Blog - The Purbottar

11 Feb

Economic Growth Set To Bounce Back As Slump Bottoms Out: Sanjeev Sanyal

editor0 CommentsNorth East

The economic growth is poised to bounce back after slipping to a more than six-year low of 4.5 per cent in the July-September quarter as the government has taken measures to prop up investments and consumer demand, a top government adviser said."Corporate tax reductions, the Insolvency and Bankruptcy Code and the banking sector reforms have helped and will help propel growth further," Sanjeev Sanyal, principal economic adviser at the finance ministry, told Reuters.The Insolvency and Bankruptcy Code, introduced in May 2016, has helped banks to recover billions of dollars stuck in outstanding corporate loans and offer loans to new borrowers.

11 Feb

RBI Releases Draft Framework For New Payment System

editor0 CommentsNorth East

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems.The central bank has invited comments on the draft framework from all stakeholders by February 25.At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

11 Feb

Economy Not In Trouble; Green Shoots Visible, Says Nirmala Sitharaman

editor0 CommentsNorth East

Finance Minister Nirmala Sitharaman on Tuesday said the economy is not in trouble and green shoots are visible with the country moving towards a $5 trillion economy. Listing initiatives taken by the government, she said, increasing Foreign Direct Investment (FDI), rise in factory output and over Rs 1 lakh crore GST collection in the past three months are indications of green shoots in the economy.

10 Feb

Apollo Gleneagles Times Half Marathon concluded amidst much fun fare

editor0 CommentsSports

The much awaited Apollo Gleneagles Times Half Marathon was flagged off today in the presence of Lt Gen Anil Chauhan, GOC, Eastern Command, Ms Nusrat Jahan,MP, INDIA, MR Debasish Kumar, MMIC, KMC, Mr Prasenjit Chatterjee, actor & Ms Ritabhari Chakraborty, actor. Thousands of runners participated in the marathon for clean & fresh air in the city. The Air Quality Index (AQI) in Kolkata was recorded at 343, which falls in the ‘very poor’ category, at the green zone Fort William automated air monitoring station recently. According to WHO, murky air kills an estimated 7 million people worldwide every year and…

10 Feb

Two-wheeler industry need more time for positive turnaround as Hero MotoCorp reports revenue of Rs. 6,997 Crore in Q3 of FY’ 20

editor0 CommentsBusiness

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters today reported it’s financial performance for the third quarter (October-December 2019) of the financial year 2020. The company’s Revenue from Operations for the quarter stood at Rs. 6,997 Crore as compared to Rs. 7,865 Crore in Q3 FY’19. Consolidated Revenue and PAT stood at Rs. 7075 Crore and 905 Crore respectively for the quarter. EBIDTA margin for the quarter stood at 14.8%. Hero MotoCorp today also announced an interim dividend of 3250% amounting to Rs. 65 per share. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “The two-wheeler industry continues to face challenges amidst an…

09 Feb

Shikara: The Untold Story of Kashmiri Pandits

editor0 CommentsEntertainment

Shikara – The Untold Story of Kashmiri Pandits is an upcoming Indian Hindi language historic drama, Romantic operate movie produced and directed by Vidhu Vinod Chopra beneath his private banner, Vinod Chopra Motion pictures. The movie is based on the Kashmiri Pandit exodus from Kashmir. This full movie based mostly totally on precise incidents. Nonetheless screenplay and dialogue creator took an very important place. With dialogues and screenplay, it makes it easy to know real-time situations. Abhijat Joshi is an expert creator. He works in a number of movies. Abhijat Joshi was moreover with Vidhu Vinod Chopra. three Idiots, Sanju,…

08 Feb

Petrol Price Cut By 23-24 Paise Per Litre, Diesel By 25-27 Per Litre In Metros

editor0 CommentsNorth East

Petrol and diesel prices were reduced in metros on Saturday, February 8 - a third straight day of downward revision. While the price of petrol was lowered by 23-24 paise per litre in Delhi, Mumbai, Kolkata and Chennai, the rate of diesel was brought down by 25-27 paise per litre, according to data from Indian Oil Corporation. The prices of petrol and diesel have been lowered more than 3 per cent each in the four metros so far this year.

08 Feb

Importers Call Strike Against Toy Duty Hike, Say 1 Lakh Retailers To Be Impacted

editor0 CommentsNorth East

More than one lakh retailers across the country will be hit by a three-fold hike in duty, according to toy importers who went on strike on Saturday. In the Union Budget for financial year 2020-21, the government proposed to raise the import duty applicable to toys from 20 per cent to 60 per cent, saying that the step would support micro, small and medium enterprises (MSMEs), and promote local manufacturing.Protesting against the move, the toy wholesalers of the city went on a one-day strike, contending that the import duty hike will result in the closure of businesses and a spurt…

08 Feb

How Stock Markets Read Budget 2020, RBI Policy Review This Week

editor0 CommentsNorth East

Domestic stock markets rallied this week with benchmark indices clocking gains of nearly 4 per cent after the February 1 Budget announcements triggered their worst single-day fall in at least 17 months. The S&P BSE Sensex index registered a gain of 1,406.32 points (3.54 per cent) for the week while the broader NSE Nifty benchmark added 436.5 points (3.74 per cent). That marked the biggest weekly gain for the 30-scrip benchmark index since March 2019. Analysts say that the Budget may support the economy in the long term, even though it fell short of near-term market expectations.

07 Feb

Lockheed Martin Inks Pact With BEL To Explore Opportunities For F-21 Fighter

editor0 CommentsNorth East

US defence giant Lockheed Martin on Friday inked an agreement with the state-run Bharat Electronics Limited (BEL) to explore opportunities in the F-21 fighter jet programme.Lockheed Martin has exclusively offered its F-21 military aircraft to India, with an eye to bag the Indian Air Force's $18 billion dollar deal to procure 114 jets."Lockheed Martin signed a memorandum of understanding (MoU) with defence PSU BEL to explore industrial opportunities in the F-21 programme at DefExpo 2020," the company said in a statement.