BUSINESS
Fiscal deficit of states to hit peak of Rs 8.7 lakh crores as tax collections slide
With this, the states' aggregate gross fiscal deficit (GFD) will not only get expanded to an all-time high of Rs 8.7 lakh crore, or 4.7 per cent of GSDP, but also skew its composition towards revenue deficit which is relatively less value-accretive towards future tax potential, the report said.
Netflix surpasses 200mn paid subscribers
The numbers were revealed on Tuesday as Netflix reported its results for the fourth quarter which saw an addition of over 8.5 million paid subscribers to the platform. Average paid streaming memberships increased 23 per cent year over year in Q4, while average revenue per membership was flat year over year both on a reported and foreign exchange neutral basis, the company said.
Share Market: Sensex above 49,700; RIL shares up nearly 2%
Rise in the share price of index-heavyweight Reliance Industries (RIL) also supported the Sensex. Around 1.55 p.m. RIL shares on the BSE were trading at Rs 2,050.25, higher by Rs 33.95 or 1.68 per cent from its previous close.
Adani Green commission 150 MW solar power plant in Kutchh
In a regulatory filing, Adani Green said that despite all the challenges of global pandemic Covid-19, unprecedented rain and flood in Kutchh, Gujarat, the company's team of experts made it possible to commission the project three months prior to its scheduled commissioning date.
Fuel prices unchanged on Wednesday after hitting record levels nationwide
The pump price of petrol and diesel has increased by Rs 1.49 and Rs 1.51 per litre respectively in January so far with OMCs deciding to break an earlier longer period of pause increasing the retail prices first time this year on January 6. The price had been raised on five different days since then.
Jack Ma makes first public appearance since Oct, keeps mum over his feud with Chinese regulators
Jack Ma, China’s most famous entrepreneur who is also known for his quirky lifestyle was seen addressing teachers via live stream during an annual event he hosts to recognize rural educators. In a video of the even that has been circulated widely online, Ma talked about how he will spend more time on philanthropy.
Expert sees high-quality development of China's economy
The country is expected to be the only major economy to post growth in the pandemic-ravaged year, according to the National Bureau of Statistics (NBS). The latest World Economic Outlook report released by the Organization for Economic Cooperation and Development predicts that China will contribute more than one-third of global economic growth in 2021.
Centre convenes all-party meet on Jan 30 ahead of Budget session
Parliament's Budget session will be held in two phseses amid all precautions against coronavirus -- from January 29 to February 15, and from March 8 to April 8. The all-party meeting will be chaired by Prime Minister Narendra Modi and attended by Defence Minister Rajnath Singh, Home Minister Amit Shah, BJP's Rajya Sabha leader Thawarchand Gehlot, Deputy Leader Piyush Goyal, Parliamentary Affairs Minister Prahlad Joshi, Arjun Ram Meghwal and V Muralitharan.
Equity indices rise, Sensex above 49,600
The index was trading above the 49,600 mark.Healthy buying was witnessed in auto and IT stocks. Around 10 a.m., Sensex was trading at 49,603.64, higher by 205.35 points or 0.42 per cent from its previous close of 49,398.29.
Amazon ties up with Startup India to boost e-commerce exports
As part of the startup accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, venture capital funds and senior leaders from Startup India and Invest India who will engage with emerging brands and provide them tailored resources, mentorship on the global demand patterns and insights on building successful exports business through e-commerce, said an Amazon statement.
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