Updates From The Business & Finance World

 

BMC to Present a Budget of Rs. 33,000 crore in February

The Brihanmumbai Municipal Corporation (BMC), Maharashtra will present a Rs.33,000 crore budget in the first week of February. No new taxes are likely to be introduced and the BMC is counting on its capital receipts. Hospital revamp projects will kick-start with the health department receiving a sizeable chunk of the budget, somewhere around 14%.

 

MUDA Receives Rs. 700 crore Loan from SBI

The State Bank of India approved a loan of Rs.700 crore to the Machilipatnam Urban Development Authority (MUDA). The loan in the first phase will initiate the creation of infrastructure facilities. This will speed up major projects including the deep sea port and the Integrated Logistics Management Zone (ILMZ), in the long run.

 

Jharkhand Budget an Estimated Rs. 85,429 crore

The Chief Minister of Jharkhand Raghubar Das has presented an estimated Rs.85,429 crore budget for the financial year 2019-20 in the State Assembly. Raghubar Das was presenting his fifth straight budget and also holds charge of the Finance Department.

Rishi Vasudev to Head Myntra-Jabong Fashion

The Fashion department head of Flipkart Rishi Vasudev has been promoted to head Myntra-Jabong’s Fashion and lifestyle categories. Walmart backed Flipkart has given these to Vasudev as an additional responsibility. Rishi Vasudev will be reporting to Flipkart CEO Kalyan Krishnamurthy.

 

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