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Business Briefs

Car export up 56%

New Delhi, Oct. 19: Car exports soared 55.93 per cent in the first six months of this fiscal, while sales in the domestic market increased by a mere 5.39 per cent. According to data by the Society of Indian Automobile Manufacturers, car export stood at 1,54,787 units during April-September compared with 99,266 units in the same period last year. Hyundai Motor India led the pack of exporters at 1,20,649 units compared with 67,626 units in the year-ago period.

Sugar output

New Delhi, Oct. 19: Sugar production in Maharashtra may decline 30 per cent to 60 lakh tonnes in the 2008-09 season because of less production of sugarcane. The state is the largest producer of sugar in the country. Sugarcane area in Maharashtra has slipped to 7.88 lakh hectares this year.

Debit card

New Delhi, Oct. 19: The volume of payment cards in the country is projected to touch 210 million in the next two years, with debit cards accounting for more than half of the total. The debit cards in circulation are expected to touch 169 million by 2010, consultancy firm Celent said in a report.

Hero Honda

New Delhi, Oct. 19: Two-wheeler maker Hero Honda has launched four variants of its existing models with a target to sell about six lakh units during the festive period.

Tax mop-up

New Delhi, Oct. 19: Goldman Sachs expects the Indian government’s net tax revenue to increase 20 per cent in the current fiscal, higher than the budget estimate of 17 per cent, because of the robust direct tax collection.

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