EPFO retains 8.5percent on PF for current fiscal

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government has taken several measures to counter the negative fall-out of the global slow down on the Indian economy. Presenting the budget for 2009-10, Mukherjee said: Firstly, the Government responded by providing three focused fiscal stimulus packages in the form of tax relief to boost demand and increased expenditure on public projects to create employment and public assets.

July 4th, 2009 NEW DELHI - The Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) is meeting today to discuss the rate of interest for provident fund for the current financial year. Labour Minster Mallikarjun Kharge will chair the meeting.

May 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, wants to raise Rs.20,000 crore in the current fiscal, a top company official said here Friday. 'SBI wants to raise Rs.20,000 crore this fiscal.

April 24th, 2009 NEW DELHI - Despite the global slowdown and recession in Europe and the US, India expects at least $40 billion as foreign direct investment (FDI) in the current fiscal, a senior industry ministry official said here Friday. 'The overall outlook for foreign investment is positive.

March 14th, 2009 KOCHI - Despite the global slowdown, the current fiscal is another good business season for the Cochin Port, which would host 36 cruise ships by March-end, an official statement said Friday. 'By the end of this fiscal, the port would host about 22,000 cruise tourists and about 10,000 crew members.

February 27th, 2009 NEW DELHI - The fears of a sharp slowdown in India were confirmed Friday, with official data showing economic growth at just 5.3 percent for the third quarter of the current fiscal - the slowest since 2003 - against 8.9 percent in the like period the previous year. The growth in gross domestic product (GDP) has dipped from 7.6 percent for the second quarter and 7.9 percent for the first quarter, showed statistics released by the Central Statistical Organisation (CSO).

February 21st, 2009 NEW DELHI - India’s consolidated fiscal deficit may increase to 10.3 percent of gross domestic product (GDP) this fiscal and 10 percent the next year, according to an estimate by global investment bank Goldman Sachs. 'We do not think that the deficit will come down substantially over the next few years,' Tushar Poddar, economist with Goldman Sachs, said in a statement.

February 19th, 2009 NEW DELHI - India’s consolidated fiscal deficit may increase to 10.3 percent of gross domestic product (GDP) this fiscal and 10 percent the next year, according to an estimate by global investment bank Goldman Sachs. 'We do not think that the deficit will come down substantially over the next few years,' Tushar Poddar, economist with Goldman Sachs, said in a statement.

February 15th, 2009 NEW DELHI - The government Monday said high fiscal deficit was inevitable given the global economic scenario and increasing public expenditure. External Affairs Minister Pranab Mukherjee in his interim budget speech pegged the current fiscal's deficit at 6 percent of the gross domestic product (GDP), but hoped that it would come down to 5.5 percent in next financial year.

February 8th, 2009 NEW DELHI - The Indian economy is expected to log its lowest growth in six years and fall to 7.1 percent for the current fiscal, against 9 percent in the previous year, as per official projections on national income released here Monday. The estimates, compiled by the Central Statistical Organisation, said growth figures for all the three main components of the national income, namely agriculture, manufacturing and services, were expected to fall during the current fiscal.

February 1st, 2009 NEW DELHI - India's merchandise exports registered a decline for the third straight month in dollar terms and were valued at $12.690 billion, down 1.1 percent over $12.825 billion logged during the like month of last fiscal. Cumulatively, however, the exports grew 17.1 percent during the first nine months of the fiscal to $131.990 billion, against $112.737 billion during the corresponding period of the previous fiscal, official data showed Monday.

February 1st, 2009 NEW DELHI - After registering a decline for two successive months, India's merchandise exports were marginally up 1.1 percent in December at $12.690 billion, as against $12.825 billion during the like month of last fiscal. Cumulatively, the exports grew 17.1 percent during the first nine moths of the fiscal to $131.990 billion against $112.737 billion during the corresponding period of the previous fiscal, official data showed Monday.

January 20th, 2009 KOLKATA - The city-based UCO Bank has posted a net profit of Rs.1.72 billion (Rs.171.64 crore) in the quarter ended Dec 31, as against Rs.827 million (Rs.82.78 crore) in the corresponding quarter last fiscal, reflecting an increase of over 100 percent, a top company official said here Wednesday. 'The net profit in this quarter jumped by 107.35 percent.

January 19th, 2009 MUMBAI - HT Media, which publishes leading dailies like Hindustan Times and Mint, Tuesday reported a sharp drop of 79 percent in its net profit during the third quarter of this fiscal. In a regulatory filing, the company said its net profits fell to Rs.78 million for the third quarter of this fiscal from Rs.369 million for the corresponding period the previous fiscal.

December 31st, 2008 KOLKATA - Undeterred by the recent strained relationship with Pakistan, the Tea Board of India expects to export 11,000 tonnes of tea to that country this year, a top official said here Thursday. 'We expect that the export to Pakistan will be decent this fiscal.