Blog - The Purbottar

01 Feb

Non-Resident Indians Allowed To Invest In Government Securities

editor0 CommentsNorth East

To increase participation of non-resident Indians, some categories of government securities will be opened fully for non-resident investors, apart from being available to domestic investors as well.Finance Minister Nirmala Sitharaman announced in the Union Budget on Saturday that NRIs will be allowed to invest in certain categories of GSecs.One of the Budget proposals is that the limit for foreign portfolio investment (FPI) in corporate bonds, currently at 9 per cent of outstanding stock, will be increased to 15 per cent of the outstanding stock of corporate bonds. This will in turn open avenues for foreign investments in the debt market.

31 Jan

Economic Survey Predicts Pick-Up In Growth To 6-6.5% In 2020-21: 10 Things To Know

editor0 CommentsNorth East

The government's Economic Survey 2020 pegged the gross domestic product (GDP) growth at 5 per cent in the current financial year, which it said would pick up to 6-6.5 per cent in financial year ending March 2021. That marked a sharp downward revision from the estimate of 7 per cent growth for the current financial year in last year's Economic Survey. Prepared by Chief Economic Advisor Krishnamurthy Subramanian and his team, the Economic Survey 2019-20 comes a day ahead of the presentation of the first full-year Union Budget of the Modi 2.0 administration. The government may need to relax its…

31 Jan

Government Revises GDP Growth For 2018-19 To 6.1% From 6.8%

editor0 CommentsNorth East

The government on Friday revised the country's economic growth for financial year 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier mainly due to deceleration in mining, manufacturing and farm sectors."Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at Rs 139.81 lakh crore and Rs 131.75 lakh crore, respectively, showing growth of 6.1 per cent during 2018-19 and 7.0 per cent during 2017-18," the National Statistical Office said in revised national account data released on Friday.Under the first revision released in January 2019, real GDP or GDP at constant (2011-12) prices…

31 Jan

Economic Survey Hints At Relaxing Fiscal Deficit Target To Revive Growth

editor0 CommentsNorth East

The Economic Survey 2019-20 warns against a widening fiscal deficit, stating that the government may need to relax its target for the current financial year to revive growth. The Economic Survey, tabled in parliament a day before the Budget, however pegs economic growth at 5 per cent in the current financial year - lower than its estimate of 7 per cent last year - and then projects it to pick up to 6-6.5 per cent in the next financial year. In 2019, the government targeted to contain the fiscal deficit at Rs. 7.04 lakh crore - or 3.3 per cent…

31 Jan

An awareness campaign on safe insulin injection practices

editor0 CommentsHealth

Insulin therapy is often a crucial part of diabetes management. Type 2 diabetes patients ultimately require insulin therapy in the course of the disease for effective glycemic control and injection technique remains crucial in the process. To enhance awareness on safe insulin injection practices, a multi-city educational campaign was organised by BD-India with leading endocrinologists onInsulin Injection Day. Insulin Injection Day commemorates the 98th anniversary of first successful insulin administration on 11th January 1922, at Toronto General Hospital, Canada. At the conference, Prof. Debasish Maji President, Calcutta Diabetes & Endocrine Foundation & Past President, Endocrine Society of India said, “The success of insulin injection therapy and the…

31 Jan

Aditya School of Sports collaborates with Rainbow A.C.

editor0 CommentsSports

Aditya Group formally associated itself with RAINBOW AC which shall now be known as ASOS Rainbow A.C. The sixty-four year’s old football club, NBP Rainbow AC, officially collaborates with Aditya School of Sports with a new identity- ASOS Rainbow A.C. Speaking on the occasion, the Chairman of Aditya Group, Mr. Anirban Aditya said, “We are extremely proud to collaborate with this outstanding sporting unit and welcome all to Aditya Sansar.” The formal association announced at the Calcutta Sports Journalists Association Tent was also attended by Ankit Aditya, former International footballer Debjit Ghos and officials of RAINBOW AC Aditya Group has always focused on…

30 Jan

Common Facility Center to enhance the productivity of small gem and Jewellery units

editor0 CommentsBusiness

Ground-breaking ceremony of Common Facility Centre (CFC) at Bow Bazar in Kolkata was held today in the presence of Smt. Rupa Dutta (Economic Advisor, Ministry of Commerce & Industry, Government of India), Shri Senthil Nathan (Deputy Secretary, Ministry of Commerce & Industry, Government of India), Shri Pramod Agrawal, Chairman, GJEPC; Shri Prakash Pincha, Regional Chairman, Kolkata, GJEPC, along with others. GJEPC is setting up a Common Facility Center at Bow Bazar with a view to enhance the productivity and quality of products, especially the small gem and Jewellery units set in Bow Bazar and its surrounding areas. GJEPC with the support of the Ministry of Commerce and…

30 Jan

OYO’s Corporate Channel etches strong growth trajectory; Records 80% y-o-y increase in revenue

editor0 CommentsBusiness

OYO Hotels & Homes, the world’s leading chain of hotels, homes, and spaces has witnessed a strong growth trajectory in its corporate bookings. The company’s corporate channel witnessed an 80% increase in revenue on a y-o-y basis. Today, OYO’s corporate channel contributes to over 30% of the hospitality company’s total revenues and it counts Utkarsh Small Finance, Think & Learn (P) Ltd. (BYJU’S) and Extramarks Education among its 8,400+ clients. This remarkable growth further reiterates OYO’s commitment to scaling up its engagement in the corporate travel segment. With over 8400 active corporate accounts, OYO caters to the travel needs of…

30 Jan

Start-Ups That Burn Investor Money, Disappear Won’t Get Second Chance: Ratan Tata

editor0 CommentsNorth East

Industrialist Ratan Tata on Tuesday warned that start-ups which burn investors' money and disappear will not get a second or a third chance.Mr Tata, who also invests in start-ups, also said old-age businesses will recede and the young founders of innovative companies are the future leaders of the Indian industry.The comments from Mr Tata come at a time when many start-ups have been blamed for what is termed as "cash burn", wherein the optimism of making money in the future makes venture funds to invest in such companies, and the companies keep incurring losses. At its peak, e-commerce major Flipkart…

30 Jan

Maruti Suzuki Profit Rises 5% To Rs 1,565 Crore In December Quarter; Misses Estimates

editor0 CommentsNorth East

Maruti Suzuki, the country's largest car maker, on Tuesday reported that its net profit rose 5 per cent year-on-year to Rs 1,565 crore in the quarter ended December 2019. The profit primarily came on account of cost reduction efforts, lower commodity prices and improved capacity utilization, Maruti Suzuki said in a press release. However, higher sales promotion expenses and lower fair value gain on invested surplus capped the profitability. Analysts on average had expected the country's largest car maker to report a profit of Rs 1,647 crore, according to Refinitiv data, news agency Reuters reported.