INDIAN ECONOMY: REPORT CARD
Article Abstract:
The growth in gross domestic product has fallen to 5.1 percent in 1997-98 against a growth of 7.5 percent in 1996-97. Agricultural output showed a negative growth of 3.7 percent in 1997-978 against 9.4 percent in 1996-97 while that of industrial output was 6.5 percent against 5.6 percent. The infrastructure sector showed a growth of 4.9 percent in 1997-98 against a growth of 3.6 percent in 1996-97. The savings sector showed a growth of 26 percent against 26.1 percent while investments remained stagnant at 27.3 percent in 1997-98. (khr)
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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ITC: A LOT OF FIRE UNDER THE SMOKE
Article Abstract:
ITC Ltd is being investigated by the excise authorities, which claims that its is under-invoicing sales and has attempted to defraud the authorities of Rs6.82 billion. The excise case may also become a sales tax liability because if ITC loses the case then it is liable to pay a 13 percent interest on the penalty awarded from 1996 onwards. The Enforcement Directorate has claimed that the company has been involved in FERA violation of $180 million. (khr)
Comment:
Excise auths investigates this co claiming that it is under-invoicing sales & has attempted to defraud auths of Rs6.82 bil
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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