Business Current Affairs - 2019

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Government relaxes norms for shares with differential voting rights

Union Ministry of Corporate Affairs (MCA) has amended provisions relating to issue of shares with Differential Voting Rights (DVRs) provisions under Companies Act. This move is aimed at enabling promoters of Indian companies to retain control of their companies in their pursuit for growth and creation of long-term value for shareholders, even as they raise Read More…

Month:  Categories: Business, Economy & Banking

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Government to constitute working group for revision of Wholesale Price Index

Central Government has constituted Working Group for the revision of the current series of Wholesale Price Index (Base 2011-12). It will be chaired by Prof. Ramesh Chand, Member, NITI Aayog. Office of Economic Adviser, Department for Promotion of Industry & Internal Trade will be nodal office for Working Group. It will process report / recommendation Read More…

Month:  Categories: Reports & Indices

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Sanjiv Puri appointed ITC’s New Chairman

ITC Group’s present Managing Director (MD) Sanjiv Puri was elevated as new Chairman and Managing Director of company. His appointment comes after noted industry leader and erstwhile ITC Chairman Yogi C. Deveshwar died on 11 May 2019. Background Y C Deveshwar (aged 72) had stepped down from ITC’s executive role in 2017 but remained non-executive Read More…

Month:  Categories: Business, Economy & Banking

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IIP grows 8.1% in October 2018

According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) grew 8.1% in October 2018 as against 4.5% in September 2018. The growth was aided by favourable base effect and robust output in all key sectors—manufacturing, electricity and mining. IIP is the closest approximation for Read More…

Month:  Categories: Business, Economy & Banking

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ADB retains India’s growth forecast at 7.3% for FY19

Asian Development Bank (ADB) in its Outlook Supplement has retained India’s growth forecast at 7.3% for current fiscal (2018-19) and 7.6% in following financial year (2019-20). It held that India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output. Key Facts India saw GDP growth moderate to 7.1% in Q2 of Read More…

Month:  Categories: Business, Economy & Banking

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Economist Surjit Bhalla resigns from Prime Minister’s Economic Advisory Council

Eminent economist and columnist Surjit Bhalla has resigned as part-time member of Economic Advisory Council to the Prime Minister(EAC-PM). His resignation comes day after Reserve Bank of India (RBI) governor Urjit Patel, quit abruptly after months-long tussle over policy with government. Prime Minister’s Economic Advisory Council (PMEAC) PMEAC is non-constitutional and non-statutory, non-permanent and independent Read More…

Month:  Categories: Persons in News

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Government raises its contribution in National Pension System to 14% from 10%

Union Cabinet has decided to raise contribution of Central Government to National Pension System (NPS) corpus of its employees from 10% to 14%. This will increase in eventual accumulated corpus of all central government employees covered by NPS. There are 18 lakh central government employees at present. The revenue impact from higher government contribution to Read More…

Month:  Categories: Government Schemes & Projects

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