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Exports fall 10th month in row, down 28% in July
India"s exports declined by 28.4 per cent in July over the same month last year, contracting for the tenth month in a row, as overseas shipments were hit by slowdown in major global markets like the US and Europe.

Options limited for Madhya Pradesh
Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”

News of the day

State Bank of Mysore extends 8% home loan scheme
State Bank of Mysore has extended its two 8 per cent home loan schemes till March 31, but has begun levying processing charges from this month, a source in the bank’s personal and services banking department said. The schemes were set to expire on November 30.
Management

Srei Infra to raise up to $200 mn through ECBs

The country’s largest power generator, NTPC Ltd, will be officially powering the Commonwealth Games being held next year. It has got marketing rights for the games that will held in New Delhi next year, in return for a Rs 50-crore sponsorship. - No fear of asset bubble on rising inflows: RBI - RBI tightens ECB guidelines - New MFs to look beyond cities - Credit limit on structured obligations up to $1 billion - India Power combine wins bid for control of DPSC - SDCs to boost Srei rural jobs initiative “NTPC shall be the official power partner for the 19th Commonwealth Games 2010, Delhi,” said a statement released by the company. NTPC today signed an agreement to this effect with the Organising Committee of the games. NTPC plans to use the games’ imagery to market itself. “This recognition will allow the company to enjoy marketing rights, advertising, promotion and recognition to connect with its customers,” the statement read. The NTPC logo will be used with the games’ logo in all events.


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