Business highlights

DEL108 BIZ-2NDLD SURVEY Economic Survey sees pick up in growth but calls for expansionary policy New Delhi: The Economic Survey on Friday projected revival of economic growth to 6-6.5 per cent in the next fiscal beginning April 1 but suggested the government to relax the budget deficit target to boost growth from a decade low.

DEL149 BIZ-LD GDP GROWTH GDP growth rate for 2018-19 revised downwards to 6.1 pc New Delhi: The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier, mainly due to deceleration in mining, manufacturing and farm sectors. DEL128 BIZ-LD STOCKS Markets recoil as Eco Survey stokes fiscal slippage fears; all eyes on Budget Mumbai: The Sensex skidded 190 points while the Nifty closed below the 12,000-mark on Friday after the Economic Survey suggested relaxing fiscal deficit target to boost growth from a decade low.

DEL135 BIZ-INFRA-GROWTH Core sector growth recovers to 1.3 pc in Dec New Delhi: Growth of eight core industries recovered to 1.3 per cent in December 2019 after remaining in the negative zone in the previous four months helped by expansion in production of coal, fertiliser and refinery products.

DEL134 BIZ-RUPEE-CLOSE Rupee rises 25 paise to 71.33 against US dollar Mumbai: The Indian rupee on Friday appreciated by 25 paise to end at 71.33 against the US dollar on Friday after the Economic Survey 2019-20 predicted bullish growth figures for the next financial year. DEL122 BIZ-SURVEY-LD-THALINOMICS Thalinomics in times of rising prices: Veg, non-veg thalis more affordable, says Eco Survey New Delhi: Rising inflation may have burnt a hole in common man's pocket but Finance Ministry's chief economic advisor believes otherwise as he brought a novel 'thali' concept to otherwise heavy-duty data crunching to drive home the point that affordability of a plate of meal has improved.

DEL77 BIZ-RESULTS-SBI SBI profit jumps 41pc to Rs 6,797cr in Q3 on lower provisioning New Delhi: The country's largest lender SBI on Friday reported a 41 per cent jump in net profit to Rs 6,797.25 crore in the October-December quarter this fiscal compared to Rs 4,823.29 crore in the year-ago period.

DEL44 BIZ-WIPRO-LD CEO Wipro CEO Abidali Z Neemuchwala to step down, board scouts for successor New Delhi: IT services major Wipro on Friday said its CEO Abidali Z Neemuchwala has decided to step down, and the company's board has started scouting for his successor.

DEL32 BIZ-BANK-STRIKE Two-day PSU bank strike impacts services New Delhi: Services of public sector banks were impacted as employee unions went on a two-day nationwide strike from Friday to press for wage revision. DEL58 PREZ-INFRA Over Rs 100 lakh cr to be spent in next 5 yrs on building modern infrastructure: Prez New Delhi: The government has decided to invest more than Rs 100 lakh crore on building modern infrastructure in the country with a special emphasis on connectivity, President Ram Nath Kovind said on Friday.