by Admin 2013-03-06 | Like 30 |1785 Views

India\'s billionaire wealth much above country\'s fiscal deficit

India\'s billionaire wealth much above country\'s fiscal deficit

The total networth of India\'s 55 billionaires has fallen marginally to USD 189 billion (over Rs 10 lakh crore) in the past one year, but even half of this amount exceeds the country\'s total fiscal deficit.

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P Chidambaram is planning to cut the public spending target for fiscal 2013/14 by up to 10 per cent from this year\'s original target, in what would be the most austere budget unveiled in recent history as he tries to avert a sovereign credit downgrade.

Budget 2013-14 to be most austere in yea...

Description : P Chidambaram is planning to cut the public spending target for fiscal 2013/14 by up to 10 per cent ...

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Liquor baron Vijay Mallya on Saturday said he has learnt the hard way that wealth should not be displayed in India, and that it is better to be a multi-billionaire politician in the country. \'I have learnt the hard way that in India wealth should not be displayed. (It is) Better to be a multi-billionaire politician dressed in Khadi,\' Mallya

It\'s better to be a multi-billionaire p...

Description : Liquor baron Vijay Mallya on Saturday said he has learnt the hard way that wealth should not be disp...

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Union Finance Minister P Chidambaram has been instilling a lot of confidence in not just the markets but investors as well. Adding that this year\'s Budget will be a responsible one, he is positive that next year\'s fiscal deficit target will be lowered to 4.8 per cent. Chidambaram also said that tweaking tax rates may be required to address economy.

The rich should be ready to pay more tax...

Description : Union Finance Minister P Chidambaram has been instilling a lot of confidence in not just the markets...

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Hope rests with Senate with a week to go until deadline to avoid tax rises and the Christmas holiday beginning

US stock markets fall again as prospect ...

Description : Hope rests with Senate with a week to go until deadline to avoid tax rises and the Christmas holiday...

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Herrand Associates values our clients’ privacy as well as that of those who visit this Website. This Privacy Statement clarifies how Herrand Associates safeguards, stores and utilizes the personal records of clients and our Website visitors.

Privacy Statement of Herrand Associates ...

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Oil prices fell on Friday amid worries that Washington will not act in time to stop the United States from going over the �fiscal cliff� by an end-of-year deadline.

Oil prices fall in absence of fiscal cli...

Description : Oil prices fell on Friday amid worries that Washington will not act in time to stop the United State...

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The finance ministry\'s efforts to force export parity pricing down oil companies throats is a short-cut to a lower fiscal deficit that will damage balance-sheets unnecessarily

FM should not rob oil companies to show ...

Description : The finance ministry\'s efforts to force export parity pricing down oil companies throats is a short...

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A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.

Global banks that ship work to be processed in India, either in-house or to big IT services vendors, were already under pressure to step up oversight of back-office functions after a series of scandals last year.

ATM heist: Indias IT sector in unwelcome...

Description : A breach of security at two payment card processing companies in India that led to heists at cash ma...

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Financial express latest business and finance news: BSE Sensex starts FY\'14 on promising note, up 84 pts

BSE Sensex starts FY\'14 on promising no...

Description : Financial express latest business and finance news: BSE Sensex starts FY\'14 on promising note, up 8...

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