Corporate India cautious in making new investments: FICCI
The Dollar Business Bureau India Inc remains cautious of making new investments as the slow demand is a key overhang for the business, there are also apprehensions over muted recovery in the industrial sector, said a survey. The economic situation globally continues to be weak and any strong recovery remains elusive as 64 percent of the respondents have signaled that the situation remains alarming, revealed the FICCI Business Confidence Survey. The survey gathered responses from around 120 companies having a turnover between Rs.3 crore to Rs.65,000 crore, spread across various sectors. It measured the expectations of the respondents from April 2016 to September 2016. Around 35 percent participants said that they are expecting more investment during April-September compared to 41 percent in the previous round. However, ...
Kotak Mahindra aims 20% credit growth in FY 2017
Sharath Chowdary Kotak Mahindra Bank is planning to increase its number of branches to 1400 in India by the end of this fiscal year from 1333 branches as on 31 March 2016. The bank had only 684 branches in the country at the end of FY 2015. Uday Kotak-led bank also aims at a 20 percent credit growth in FY 2017, the bank’s Senior Executive Vice President and Head - Branch Banking and Acquisition, Virat Diwanji told The Dollar Business. He said, “The corporate credit offtake was slow in the recent times. The bank has registered 14-15 percent credit growth in the previous year. As interest rates are being reduced, some green shoots are coming up in the economic growth of the country. This ...
Make in India Week nets Rs.15.2 lakh cr investment commitments
Out of the total investment commitments, Maharashtra alone made up for more than half, at Rs.8 lakh crore Source: PTI Amitabh Kant, Secretary, Ministry of Commerce& Industry, addressing at the conclusion of the Make in India week function, in Mumbai on Thursday. The week-long Make in India event here has secured investment commitments worth Rs.15.2 lakh crore, with host state Maharashtra alone accounting for Rs.8 lakh crore. Besides, it received investment enquiries worth Rs.1.5 lakh crore. "The multi-sectoral Make in India Week has been a great success. We've managed to get investment commitments to the tune of over Rs.15.2 lakh crore from the event," DIPP Secretary Amitabh Kant told reporters at the closing press meet at the MMRDA Grounds here on Thursday.He ...
Long-term tax incentives planned to promote clean fuel
It is raining tax incentives for Corporate India. Close to the latest development of the Vodafone tax case where the Government of India did not contest a verdict given in favour of the telecom major by the Bombay High Court on transfer pricing, the Centre is pitching for long-term tax incentives for clean fuel engine manufacturers as well as suppliers of bio-diesel, ethanol and other such fuels. The Dollar Business Bureau "Prime Minister has directed Finance Minister (Arun Jaitley) and me to prepare a policy to promote clean fuel. I have written to FM for tax exemption to manufacturers of clean fuel engines and suppliers of such fuel for five years which can be extended to another five years," said Nitin ...
