World Bank cuts India's FY22 GDP growth drastically to 8.3% : Bulletin: Business Today
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World Bank cuts India's FY22 GDP growth drastically to 8.3%

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Rashi Bisaria | June 9, 2021

Anil Agarwal's Vedanta to acquire Videocon from insolvency

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved Vedanta Group's Twin Star Technologies' resolution plan for beleaguered Videocon Industries Ltd. As per the resolution plan, Twin Star Technologies will pay Rs 2,962 crore against Videocon's total debt of Rs 31,000 crore.

Centre caps vaccine prices for private hospitals; Covishield at Rs 780, Covaxin Rs 1,410

A day after Prime Minister Narendra Modi said private hospitals will be able to charge Rs 150 as service charge on vaccines, the Centre capped prices of Covid-19 vaccines on Tuesday. As per the latest notification from the health ministry, the charges for administration of Serum Institute's Covishield have been fixed at Rs 780; Covaxin at Rs 1,410; and Sputnik V at Rs 1,145 for private hospitals.

World Bank cuts India's FY22 GDP growth drastically to 8.3%

The World Bank has slashed India's GDP forecast for fiscal year 2021-22 to 8.3 per cent from 11.2 per cent predicted earlier, as the second COVID-19 wave hits India hard. The World Bank said economic activity will benefit from policy support, including higher spending on infrastructure, rural development, and health, and a stronger-than-expected recovery in services and manufacturing.

Bonanza for MSMEs! World Bank approves $500 million program for Indian enterprises

The World Bank's Board of Executive Directors has approved a $500 million program to support the Government of India's nationwide initiative to revitalise MSME (micro, small and medium enterprise) sector, which has been heavily impacted by the COVID-19 crisis. The program targets improvements in the performance of 5,55,000 MSMEs and is expected to mobilise financing of $15.5 billion

'Infosys regrets initial glitches': Nilekani on FM's remarks on glitches in new tax e-filing portal

After finance minister Nirmala Sitharaman's directions, Infosys co-founder and its chairman Nandan Nilekani said on Tuesday that he and his team are working to resolve issues observed on Day 1 of the launch of the new e-filing income tax platform. She had earlier asked Infosys and Nilekani to fix technical glitches in the new income tax e-filing portal. The e-filing portal 2.0, the new income tax filing portal, was launched on Monday.

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