Rs. 1,86,000 crore worth fiscal stimulus to counter global slow down

October 7th, 2009 NEW DELHI - Despite the economic slowdown, Indian Railways saw its earnings rise 6.65 percent to Rs. 40,910 crore during the first half year of this fiscal ended Sep 30 from Rs.38,358 crore in the like period of last fiscal.

October 6th, 2009 NEW DELHI - Net direct tax collections during the first half this fiscal grew 3.69 percent from the corresponding period last year, the Central Board of Direct Taxes (CBDT) said Tuesday. In a statement, CBDT said tax collection from April to September was at Rs.152,625 crore, up from Rs.147,197 crore in the like period last fiscal, registering a growth of 3.69 percent.

July 27th, 2009 NEW DELHI - Construction and engineering major Punj Lloyd Monday said it has posted a net profit of Rs.125 crore in the first quarter this fiscal, up 27 percent from the Rs.98 crore it earned in the corresponding quarter last fiscal. Revenues increased 12 percent to Rs.2,979 crore, compared to Rs.2,658 crore in the year-ago period, the company said in a regulatory statement.

July 15th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Wednesday told the Rajya Sabha that the result of the stimulus measures have started showing results with recovery in many sectors. "The stimulus measures have started yielding results and I must say it is visible but it is slow, the minister said in his reply during the debate on the national budget in the Rajya Sabha, the upper house of the parliament.

June 24th, 2009 NEW DELHI - The consolidated net profit of state-run oil refiner, the Oil and Natural Gas Corp (ONGC), fell 0.4 percent last fiscal to Rs.19,795.34 crore from Rs.19,872.28 crore in 2007-08, the company said Wednesday. The refiner, however, registered its highest turnover in 2008-09 at Rs.109,294 crore, up 7.4 percent from Rs.101,835 crore earned the previous fiscal.

May 27th, 2009 NEW DELHI - Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said. The report, 'Investment Prospects in Indian Economy 2008-09' by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

May 22nd, 2009 NEW DELHI - The state-owned power utility NTPC Ltd, formerly National Thermal Power Corp, posted a net profit after tax of Rs.8,201 crore in 2008-09 against Rs.7,415 crore netted the last fiscal, an increase of Rs.786 crore, the company announced Friday. Total income increased from Rs.40,018 crore 2008-09 to Rs.45,273 crore the previous fiscal, NTPC said in a regulatory statement.

May 22nd, 2009 MUMBAI - Tobacco, FMCG and hospitality major ITC saw its net profit for 2008-09 increase 4.6 percent to about Rs.3,264 crore from Rs.3,120 crore earned the previous fiscal. The company's turnover similarly registered a 10.5 percent growth during the year to Rs.16,844 crore from Rs.15,245.3 crore in 2007-08, it said in a regulatory statement Friday.

May 21st, 2009 NEW DELHI - India's direct tax receipts were up 8.33 percent to Rs.3.38 lakh crore in 2008-09, the finance ministry said in a statement Thursday. However the direct tax collections fell Rs.6,000 crore short of the target of Rs.3.45 lakh crore for 2008-09 fiscal.

April 27th, 2009 CHENNAI - State-run Indian Bank Monday reported 23.4 percent rise in its net profit for 2008-09 at Rs.1,245.32 crore from Rs.1,008.73 crore the previous fiscal. 'The bank's total business went up by 23 percent to Rs.124,413 crore (deposits Rs.75,582 crore and advances Rs.51,831 crore),' M.S.

April 4th, 2009 RANCHI - State-run Heavy Engineering Corp (HEC) Saturday reported a 286.33 percent jump in its net profit last fiscal. 'During 2008-09, the company has posted a profit of Rs.16.11 crore, compared to Rs.4.17 crore in 2007-08,' HEC Chairman-cum-Managing Director G.K.

April 2nd, 2009 MUMBAI - State-run engineering and manufacturing major Bharat Heavy Electricals Ltd (BHEL) Thursday reported 6.29 percent growth in net profit for 2008-09. The company said in a statement that its net profit rose to Rs.3,039 crore ($607.8 million) last year from Rs.2,859 crore the year before.

March 31st, 2009 THIRUVANANTHAPURAM - Unfazed by the global economic crisis, tipplers in the state will have consumed an estimated Rs.4,600 crore worth of liquor this fiscal - a record - to clock the highest ever annual sales in Kerala's history. According to a senior official of the Kerala State Beverages Corp (KSBC), the sole wholesalers of liquor and beer that is promoted by the state government, sales this fiscal are expected to touch Rs.4,600 crore by end of Tuesday - the last day this fiscal - as against Rs.3,669 crore the previous financial year.

February 9th, 2009 NEW DELHI - Interest rates for the Indian corporate sector were still 'very high' and must be reduced, Commerce Minister Kamal Nath said here Tuesday. 'This is under the domain of the RBI (Reserve Bank of India) but my own view is that interest rates are very high and the interest rate should be reduced,' Kamal Nath told reporters ahead of the interim budget Feb 16.

February 4th, 2009 NEW DELHI - The government will come out with a 'stimulus like package' by the end of this month to help the country's corporate sector tide over the impact of the current global financial crisis, Commerce Secretary G.K. Pillai said Thursday.