1. PGC
NEWSLETTER
19th February 2014
THOUGHT OF THE DAY
“THE BEST THING ABOUT THE FUTURE IS
THAT IT COMES ONE DAY AT A TIME”
ECONOMICS NEWS
•
With only Rs 35,000 crore budgeted towards oil subsidy, food,
fertilizer and oil ministries may have to mobilise resources via
bonds, special banking arrangements.
•
Budget for 2014-15, since the Plan expenditure is not to be
retained at the Rs 5.55 lakh crore pegged in the Vote-onaccount.
SEBI / COMPANIES UPDATES
SEBI filed an affidavit in the Supreme Court on Tuesday
rejecting Sahara's claim that it had refunded around Rs 24,000
crore by way of dues to investors.
•
Any actions taken by SEBI under the government ordinance
against capital market manipulations, will remain "valid and
the consequent effects of the same will continue".
RBI / TAX LAW UPDATES
•
SENSEX
20,686.60 52.39
CNX NIFTY
6140.85 13.75
The next government might have to raise tax rates or look for
other sources to raise revenues when it presents the full
•
MARKET UPDATES
ITAT stayed tax demand of Rs. 3,700 crores against Vodafone
DOLLAR/ RUPEE
62.2 -0.02
MCX SILVER
47574.0 -0.94
MCX GOLD
30,115.00 -109.00
MCX CRUDE OIL
6390.0 0.93
Dow Jones Industrial Average
16130.40 23.99
Nasdaq Composite
4272.78 28.75
as it appeared to have a strong case in favour.
•
HC slams ITAT for setting aside order of CIT(A) without
considering merits of case.
PGC NEWSLETTER19th February 2014
1