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RBI to raise growth forecast for FY10: Gokarn
Buoyed by better-than-expected GDP growth of 7.9 per cent in the second quarter, the Reserve Bank today said it will have to raise the country"s growth outlook for 2009-10 from the current estimates of 6 per cent.

Fiscal autonomy worry for some states
Before the introduction of the goods and services tax (GST), a crucial doubt of many states remains to be cleared: would they be compromising on their fiscal autonomy or the power to tinker with the tax rates when the new regime is rolled out?

News of the day

Dissecting policy-making
Among professional Indian economists, C Rangarajan comes next only to Prime Minister Manmohan Singh in terms of the number of years spent in economic policy-making. His professional life, like that of the PM, began in academia. Both chose to be teachers and ended up in government. Both served as governors of the Reserve Bank of India (RBI). Both worked closely together during the crisis months of 1991-92. One went on to become prime minister, the other almost became union finance minister!
Public Company

S Kumars Nationwide shareholders okays QIP issue

Textile company S Kumars Nationwide today said its shareholders have approved the raising of additional funds through private placement of shares to institutional investors. - S Kumars Nationwide FY"09 net at Rs 60 cr - Shree Renuka Sugars raises Rs 506 cr via QIP issue - Hindalco plans to raise Rs 2,400 cr via QIP - Emami to raise funds through QIP - S Kumars to acquire US-based Hartmarx for $119 mn - GMR Infra QIP issue priced at Rs 142 a share In a filing to the Bombay Stock Exchange the company said its shareholders, by way of postal ballots, have approved further placement of shares to qualified institutional buyers (QIBs). Last month, the board had approved raising of an amount not exceeding Rs 1,000 crore through the issue of shares by way of qualified institutional placement (QIP). Further, the shareholders have approved the investment or providing loans or security to overseas subsidiary company, the filing added. Shares of S Kumars Nationwide closed at Rs 45.10, up 4.16 per cent on the BSE.


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