Business Highlights Of The Day

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New Delhi, Mar 22 (PTI) Following are the top business stories at 19 25 hours:

New Delhi: Fitch Ratings Friday cut India’s GDP growth forecast for the next fiscal to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum.

DISINVESTMENT
New Delhi: The Government Friday said it has exceeded its disinvestment target for the current fiscal by Rs 5,000 crore and the proceeds have touched Rs 85,000 crore.

EPFO JOBS
New Delhi: Net employment generation in the formal sector touched a 17-month high of 8.96 lakh in January, according to the latest EPFO payroll data.

RUPEE CLOSE
Mumbai: The rupee Friday declined by 12 paise to close at 68.95 against the US dollar on rise in demand for the greenback from importers and sell-off in domestic equities.

STOCKS
Mumbai: Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India’s growth forecast.

AUTO LPG EVs
New Delhi: A Rs 10,000 crore scheme to subsidise sale of electric and hybrid vehicles as part of efforts to curb pollution is welcome, but the government is missing out on low-hanging fruits like Auto LPG, that can have an immediate impact on urban air quality, Indian Auto LPG Coalition (IAC) said.

TWITTER
New Delhi: Social media firm Twitter Friday welcomed the Election Commission’s awareness programme on its platform starting with the launch of a new emoji for the upcoming polls.

TAX DEPARTMENT
New Delhi: Amid allegations of former Karnataka chief minister B S Yeddyurappa having paid Rs 1,800 crore to BJP leaders, the Income Tax Department Friday issued a clarification saying its one-and-half-year-old searches yielding “loose sheets” of papers containing “numerical entries” against “some individual names” appear to be doubtful as the originals are not available.

EXPORTERS EXEMPTION
New Delhi: Giving relief to exporters, the government has extended IGST (Integrated Goods and Service Tax) and compensation cess exemptions for goods procurement under certain export promotion schemes till March 2020.

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