Business

The revenue expenditure which includes expenses on payment of salaries and maintenance of establishments has been pegged at Rs 2.09 lakh crore.

WeWork India has over 57,000 desks in 34 locations across NCR, Mumbai, Bengaluru, Pune and Hyderabad. The seats are available in range of Rs 5,000-40,000 per desk per month.

Tata Motors Ltd shares erased initial losses to jump 1.6% after the company reported a 17.7% decline in total sales at 47,862 units in January.

The benchmark Shanghai Composite Index dived 8.73 percent, or 259.83 points, to open at 2,716.70. The Shenzhen Composite Index, which tracks stocks on China's second exchange, sank 8.99 percent, or 158.02 points, to 1,598.80.

According to the Revised Estimate, the net borrowing for the current financial year was raised to Rs 4.99 lakh crore as against the Budget Estimate of Rs 4.48 lakh crore.

Revenue Secretary Ajay Bhushan Pandey said an Indian now has to stay abroad for 240 days, as against the 182 previously, to be categorised as a non-resident.

Forty-three per cent of the projects included in NIP are under implementation, 33 per cent are at conceptual stage and 19 per cent are under development.

In a scheme proposed to launch this year, VAT, electricity duties and fuel used for transportation will get refunded.

A native of Tamil Nadu, during her maiden budget speech in July last year, Sitharaman quoted from scriptures from the state.

The Economic Survey stated that if the labour force participation rate (LFPR) remains at about 60 per cent in the next two decades, about 55-60 lakh jobs will have to be created annually over the next decade.

CEO and MD Abidali Z Neemuchwala will continue to hold the office of the CEO and Managing Director until a successor is appointed for a smooth transition.

Domestic bourses opened on a positive note on Friday and the benchmark index Sensex was later trading 33.87 points higher at 40,947.69 at 0959 hrs, while Nifty was down 2.45 points at 12,033.35.

Neemuchwala, 52, will continue to hold the office of the CEO and Managing Director, until a successor is appointed.

Rahul Bajaj, who has been a director of the company since April 1, 1970, was last reappointed by the board for a five-year term with effect from April 1, 2015, and his term as executive chairman is expiring on March 31, 2020.

Following the move, the company will not be able to avail any export benefit or licence from the DGFT. Sources at Airtel said the company has not taken any such licence since April 2018, as there is no operational requirement.

Housing Development Finance Corp Ltd (HDFC) shares gained 3.2% after the mortgage lender’s Q3 profit surged nearly four times to Rs 8,372.5 crore compared with Rs 2,113.8 crore a year ago.