Panel favours FY from Jan 1; govt examining recommendation
PTI The government is examining the report of a committee which has recommended change in the financial year starting April 1, Finance Minister Arun Jaitley said on Friday. Replying to questions in the Lok Sabha, he said disclosing the recommendations of the committee and the prima facie view of the government on it at this stage would be unfair as it may amount to pre-judging the issue. The government is examining the report of a committee which has recommended change in the financial year starting April 1, Finance Minister Arun Jaitley said on Friday. Responding to supplementaries during Question Hour, he said since the move has various implications for the Centre, the states and various local bodies, it is necessary ...
Lanco Infratech reports net loss of Rs 813-cr in Oct-Dec
The Dollar Business Bureau Lanco Infratech on Tuesday reported a net loss of Rs.813.66 crore during October-December 2016-17, dragged down by a decline in its operational income. The company had registered a net profit of Rs.35.48 crore during the same period in 2015-16. Lanco Infratech announced in a BSE filing that the company’s total operational income slumped to Rs.1,740.31 crore during the third quarter of the current financial year, from Rs.2,168.48 crore during a year ago period. Lanco Infratech has operations across five sectors: engineering procurement and construction (EPC), infrastructure and property development, natural resources, power and solar. The company’s power (66%) and EPC (12%) sectors together contribute to 78% of its gross revenues. Its total outstanding receivables were Rs.1,396.70 crore ...
Godrej group on the lookout for acquisitions
PTI The Godrej group, with three companies in its fold, is looking for acquisitions in developing countries of Asia, Africa and South America. "We are giving a strong emphasis on inorganic growth. We are also looking to acquire businesses in the developing countries of Asia, Africa and South America," Chairman of Godrej group Adi Godrej said. He said the group had already acquired some businesses in the past few years, adding that organic growth had suppressed of late. Spelling out the group's vision of ten times growth in ten years, he said the acquisitions would be mainly in the personal and household care segments. "There is no budget fixed for acquisitions. We hope to fix the deals this financial year," Godrej told ...
PM reviews projects, calls for focus on rural infrastructure
The Dollar Business Bureau In a move to review the ongoing infrastructure-related projects in the country, the Prime Minister of India, Narendra Modi, recently chaired a high-level meeting focused at development of infrastructure sectors. In the review meeting, which witnessed the deliberations on overall status of the country’s infrastructure sector, a special focus was also laid on specific sectors like rural infrastructure, power, coal, renewable energy and petroleum and natural gas, among others. The Prime Minister, who reviewed the status of currently-stalled projects under infrastructure sector and other sectors, was given a detailed overview of the plans of various Ministries towards completion of pending projects within the current financial year. Besides this, the Prime Minister was also informed about ...
