Fiscal deficit fears
New Delhi, Feb. 18: The countrys fiscal deficit will shoot to about 7.8 per cent if off-budget items such as bonds issued to oil companies are included, said Planning Commission deputy chairman Montek Singh Ahluwalia. Stand-in finance minister Pranab Mukherjee on February 16 projected a fiscal deficit of 6 per cent, without including the off-budget items.
New Delhi, Feb. 18: Visa Steel has raised its stake to 65 per cent in Visa Bao, the joint venture with Chinese firm Bao Steel, by way of realigning its corporate structure. Visa Steel had entered into an agreement with Bao Steel to set up a 100,000-tonne ferro-chrome plant at an investment of Rs 260 crore.
Mumbai, Feb. 18: The RBI has said growth moderation may be steeper and more extended than earlier projected as a result of higher input costs and dampened demand, which have dented corporate margins.
New Delhi, Feb. 18: NMDC is looking to acquire iron ore mines in Africa, steel secretary P. K. Rastogi said. NMDC chairman Rana Som said the company has received a couple of proposals for forming a joint venture with African companies.
Mumbai, Feb. 18: The RBI has asked banks to provide additional information to customers on card usage from August 1 this year.