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As On 04-Jul-2022 EOD, Market Closed
SENSEX
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  • Defence sector gets marginal hike in Budget allocation

    Allocation for defence increased by 5.6% in the Union Budget 2017–18.

    Finance Minister Arun Jaitley allocated Rs 2,74,114 crore for defence which represents a 5.6% increase over the revised estimates of the present year. Defence pension is not part of this allocation.

    This accounts for 12.77% of the total allocation of the central government expenditure of Rs 21,46,735 crore for 2017–18.

    Of this, Rs 1,82,534.42 crore is for revenue expenditure and Rs 91.579.7 crore capital expenditure. Of the capital allocation, meant for new purchases, the services get Rs 6,488 crore, a 10% hike from this year's allocation of Rs 78,586.68 crore.

    The Budget allocation for last year was Rs 2,58,589.32 crore which was revised to Rs 2,59,480.13 crore. The capital allocation for the defence services this year was Rs 78,587 crore of which Rs 71,700 crore had been spent by the ministry leaving Rs 6,886 crore unspent.

    Adding pensions to the allocation, the Indian defence spend for 2017-18 would be Rs 3,59,854 crore. It is 5.5% more than the budget allocation for this year and 4.2% more compared to the revised estimate for 2016-17.

    The amount earmarked for pensions is Rs 85,740 crore. With One Rank One Pension (OROP) having been implemented last year and a separate allocation made for the arrears, the pension has remained largely same as that of last year.

    The FM addressed some of the long-standing concerns of the armed forces in his speech. He announced a comprehensive web- based interactive pension disbursement system for defence pensioners as well as a centralised defence travel system for the personnel to book train tickets online.

    The pension disbursement system to be established will receive pension proposals and make payments centrally.

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Flash News 04-Jul-2022
  •  ( 15:45) Tata Power signs pact for solar manufacturing plant in TN  
  •  ( 14:53) Mahindra Finance disbursement soars 115% YoY in June'22  
  •  ( 14:50) Va Tech Wabag wins order from Reliance Industries  
  •  ( 14:31) Private bank stocks advance  
  •  ( 14:31) Shares trade near the day's high  
  •  ( 13:43) Dilip Buildcon emerges as lowest bidder for Rs 702 cr project  
  •  ( 13:35) Sensex adds 100 pts; european stocks edged higher  
  •  ( 13:32) Ashoka Buildcon JV emerges as the lowest bidder for Rs 611-cr project  
  •  ( 12:41) Renaissance Global D2C biz Q1 FY23 revenue up 63% YoY  
  •  ( 12:35) Nifty hovers above 15,750 level, FMCG shares in demand  
  •  ( 12:10) DCB Bank increases MCLR rates  
  •  ( 11:33) Bank stocks in demand  
  •  ( 11:33) Sensex, Nifty trade sideways  
  •  ( 11:3) Brigade Enterprises unit acquires stake in Tandem Allied Services  
  •  ( 11:05) Adani Ports handles total cargo volume of 31.88 MMT in June 2022  
  •  ( 10:58) HDFC Bank Q1 advances jumps 22% YoY  
  •  ( 10:48) IDFC First Bank total deposits grow 21% YoY in Q1  
  •  ( 10:35) Metal stocks decline  
  •  ( 10:35) Nifty slides below 15,700  
  •  ( 10:19) CSB Bank total deposits jump 9% YoY in Q1 FY23  
  •  ( 1) Federal Bank rises as Q1 retail deposits grow 10% YoY  
  •  ( 09:45) National Fertilizers reports strong fertilizer sales in Q1 FY23  
  •  ( 09:43) Angel One client base soars 97% YoY in June  
  •  ( 09:30) Strong market breadth  
  •  ( 09:30) Benchmarks trade with minor gains  
  •  ( 08:38) Asian stocks trading mixed  
  •  ( 08:36) Paisalo Digital board to mull NCDs issue on 6 July  
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04 July 2022 00:00
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