ECONOMY - 2019 May

May 29

The Naveen Patnaik-led( BJD Biju Janta Dal government started disbursement of funds to farmers under the 'KALIA' scheme. The government has increased the target of KALIA beneficiaries to 75 lakh farm families from 42 lakh families.

May 24

An agreement to provide long-term financing of $750 million equivalent in Indian rupees was signed by the Asian Development Bank (ADB) to fund the Railway track electrification project. It is the largest single non-sovereign loan ever committed by ADB to Indian Railway Finance Corporation (IRFC) to electrify railway tracks in India.

May 19

ITC Group’s present Managing Director (MD) Sanjiv Puri was elevated as new Chairman and Managing Director of company. His appointment comes after noted industry leader and erstwhile ITC Chairman Yogi C. Deveshwar died on 11 May 2019.

May 9

Reliance Brands - Hamleys
A subsidiary of Reliance Industries Ltd. (RIL), Reliance Brands, has signed a definitive agreement, to acquire 100% shares of centuries-old British toy retailer Hamleys.
Hamleys, founded in 1760, was acquired by China's C Banner International in 2015. Hamleys is the oldest and largest toy shop in the world with 167 stores in 18 countries.
In India, Reliance has the master franchise for Hamleys and operates through 88 stores in 29 cities. Hamleys is the oldest and largest toy shop in the world with 167 stores in 18 countries.

May 2

GST revenue
The Finance Ministry in a statement said, that there is considerable increase in the total gross GST revenue collected in April. The Goods and Services Tax, GST, collection scaled all-time high of over 1.13 lakh crore rupees in April, 2019, which has gone up from 1.06 lakh crore rupees in the previous month.


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