FISCAL DEFICIT MAY EXCEED ESTIMATES BY Rs10,000 CR, SAYS I-SEC

Article Abstract:

ICICI Securities & Finance Company (I-Sec) has projected that the fiscal deficit of the Government of India is likely to be higher by Rs8,000-10,000 crore in 1999-2000. Raising of excise and customs duties on diesel and 10 percent surcharge on customs duty is likely to fetch Rs4,500 crore. The indirect taxes will fall short by Rs4,000-5,000 crore, according to ICICI Securities & Finance Company. It has projected a shortfall of Rs2,000 crore in direct taxes. Since private investment is poor, 8 percent growth will be difficult to achieve, according to ICICI Securities & Finance Company. (rk) (kvr)

Comment:

ICICI Securities & Finance Company (I-Sec) has projected that the fiscal deficit of the Government of India is likely to be higher by Rs8,000-10,000 crore in 1999-2000.

International economic relations, Petroleum Refineries, Diesel Oil, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Securities industry, Diesel fuels, ICICI Securities and Finance Co.

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VADILAL DAIRY GETS SEBI EXEMPTION

Article Abstract:

Vadilal Dairy, an ice-cream producer of Ahmedabad, has been exempted from making a public offer by the Securities and Exchange Board of India. The company had asked for exemption as it is issuing shares to promoters in place of warrants already allotted to them. This share allotment will increase the stakes of some of the promoters to 5 percent and above. Exemption was sought as the rules specify that a public issue is mandatory if a promoter's stake goes beyond 2 percent in one year. (khr)

Comment:

Ice-cream producer is exempted from making public offer by Securities and Exchange Board of India

Securities issued, listed, Ice Cream and Frozen Dessert Manufacturing, Ice Cream, Article, Vadilal Dairy

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