Tax kitty short of target

New Delhi, April 25: Total tax collections in 2004-05 was Rs 3,03,856 crore, marginally falling short of the revised estimate of Rs 3,05,314 crore mainly because of lowering of excise duty on petro products and lower income tax owing to under-recovery from oil PSUs. Indirect tax mopup grew by over 16 per cent to Rs 1,71,131 crore, exceeding the revised estimate of Rs 1,71,120 crore in the previous fiscal.

Birla Corp

Calcutta, April 25: The Company Law Board (CLB) today dismissed a petition in connection with shareholding in Birla Corporation, the MP Birla Group flagship company. Besides, the plea for investigation in Birla Corporation to check whether the Securities and Exchange Board of India procedures were violated in the company was also dismissed by the CLB.

NGO funds

Mumbai, April 25: The Reserve Bank of India (RBI) today said that non-government organisations (NGOs), engaged in micro finance activities, can raise external commercial borrowings up to $5 million in a single financial year for permitted end-use. This facility follows Union finance minister P Chidambaram's budget statement requesting the RBI to open a window to enable qualified NGOs to use the ECB route.

Exim Bank

Mumbai, April 25: Export-Import Bank of India (Exim Bank) plans to raise Rs 3,000 crore through various financial instruments, including bonds and term deposits and foreign currency resources in 2005-06.

Tata Motors

New Delhi, April 25: An extraordinary general meeting of Tata Motors will be held in Mumbai tomorrow to seek shareholders? and creditors? approval for the merger of Tata Finance Ltd with itself.

LIC Housing

Mumbai, April 25: Mauritius? Goldman Sachs Investments Ltd has acquired 17.71 lakh shares of LIC Housing Finance Ltd (LICHF).

JK Paper

New Delhi, April 25: JK Paper Ltd will invest Rs 235 crore to expand its business.