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Bezos’ prediction about India rests squarely on us: Murthy

IANS New Delhi Praising Amazon CEO Jeff Bezos for his comment that 21st century will be India’s century, software major Infosys founder Narayana Murthy on Wednesday said the responsibility of making that prediction come true rests squarely on our shoulders. “Nearly 85 per cent of India’s business output comes from the unorganised sector, about 10 per cent from SMBs and …

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Govt drafting fisheries policy with `45,000 cr budget

PTI New Delhi The government is drafting first national fisheries policy with a budget of Rs 45,000 crore for next five years to promote marine fishery, acquaculture and mariculture, official sources said. The only existing policy is on marine fisheries from which the production stands at 4.3 million tonnes annually, but there is no policy on inland fisheries that produces …

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Budget may offer flat tax rate

New Delhi: The government is considering a proposal to extend further incentives to salaried taxpayers in the upcoming Budget. The Finance Ministry may allow individual taxpayers to pay a lower flat rate of tax if they forego all exemptions. The new structure would be similar to tax rates proposed by Finance Minister Nirmala Sitharaman late last year where the base …

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Flipkart opens 2 largest FCs in Haryana

Gurugram: E-commerce marketplace Flipkart on Tuesday expanded its supply chain infrastructure with opening two of its largest fulfilment centres (FCs) in Farrukhnagar, Haryana which will generate more than 5,000 jobs in the region. Spread across 9 lakh square feet, the fulfilment centres will help Flipkart significantly scale up its supply chain infrastructure in north India, the company said in a statement. With these two …

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Mayuri Bhate wins Business Diva award

Panaji: Woman entrepreneur, Mayuri Bhate on Tuesday won the Business Diva competition for her innovative startup idea based on areca nut and coconut shells. In all 46 entries were received from budding women entrepreneurs in the state of which five contenders made it to the winners list. Bhate received a cash prize of Rs 15,000 and a trophy.  Nivedita Walke …

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CAA stir impact: banks on sticky wicket in N-E

Mumbai: Two private sector lenders on Tuesday said their business was impacted due to the fallout of the anti-Citizenship Amendment Act (CAA) protests in Assam last month, with the poor borrowers segment being the most hit. IndusInd Bank and Bandhan Bank, which have come out with their December quarter earnings, reported a dip in micro lending activity because of the …

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Competition hots up on Mumbai-Nairobi route, airfare drops

New Delhi: The entry of Air India on the Mumbai-Nairobi route has triggered intense competition on the popular route leading to a dip in airfares, bringing cheer for tourists flying to the African nation for a safari to Masai Mara and other leisure activities. A return economy class ticket for the Mumbai-Nairobi sector is currently being sold by Air India …

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Govt to make single regulator for pension products

IANS New Delhi A unified pension products regulator is on the anvil consolidating supervisory powers from SEBI, IRDAI where all superannuation products, schemes and corpus of private insurers will be under the single authority in a bid to make long term funds available to the government for infrastructure and growth schemes, said sources. “The new regulator will only involve pension …

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Bank seeks recovery from Chanda Kochhar

PTI Mumbai The ICICI bank has approached the Bombay High Court seeking effect to “termination of appointment” of Chanda Kochhar as its Managing Director and CEO, and also sought recovery of various amounts from her. In a monetary suit filed on January 10, the bank sought dismissal of Kochhar’s petition and stated that the issue can be decided in a …

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India contracts 28 lakh tonne of sugar exports

IANS Mumbai Indian sugar mills have benefited from the rise in sugar prices in the international market, as the demand for sugar exports from the country has increased and 28 lakh tonnes of sugar export deals have been sealed so far. The increased sugar export demand has led to a spurt in sugar prices in the domestic market. The price …

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