By March-end, trade deficit may be $100-110 billion

MUMBAI: The country’s trade deficit which improved by 25 per cent in the first nine months of financial year 2016-17 compared to last year, is likely to be in the range of $100-110 billion by Marchend, says a report.

During April-december period of the fiscal 2016-17 the trade deficit was at $76.37 billion as against $100.08 billion in the same period last year.

“The trade deficit has improved sharply by almost 25 per cent in the first nine months and with the present trend, the overall trade deficit would be in the region of $100-110 billion for the year (fiscal 2016-17),” Care Ratings said in a report.

Exports were marginally in the positive territory in the first 9 months of the fiscal 2016-17 while imports continue to decline by around 7 per cent.

Talking about the FPI flows, the report said with the US economy showing signs of accelerating and the Federal Reserve announcing its intentions to increase interest rates in a phased manner, debt investments in emerging markets would become less attractive. For the year so far, FPI flows into equity has been positive at $2.5 billion as against outflow of $2.7 billion last year same period, the report said adding that since October there have been outflows. NEW DELHI: A tableau displaying objectives of Goods and Services Tax (GST) was on Thursday showcased during the Republic Day parade at Rajpath here.

The tableau’s front part highlighted the objectives of GST like replacement of multiple Central and State level indirect taxes by it along with the basic essence of the proposed tax - one nation, one tax, one market.

Its rear portion depicted various expected benefits of the GST like growth in investment, production of goods, services leading to higher exports, employment and also increase in GDP.

Union Power Minister Piyush Goyal, who was among the other ministers present to witness the parade, stood up from his seat and clapped as the GST tableau passed through the iconic Rajpath.

The GST, which aims to subsume a multitude of taxes, is the single biggest tax reform initiative undertaken since Independence.

The Goods and Services Tax is likely to be rolled out from July 1, as against April 1 decided earlier by the government.

The tableau was presented by Central Board of Excise and Customs (CBEC), apex indirect taxes related policy making body. NEW DELHI: Us-based mutual fund Fidelity Rutland Square Trust II has marked down the value of its shareholding in e-commerce firm Flipkart by almost half over a period of one year.

In a regulatory filing on January 24, Fidelity reported value of its 52,096 shares in Flipkart at $2.7 million ($ 2,715,764), or $ 52.12 per share, as on November 30, 2016.

Fidelity, which holds less than a per cent in Flipkart, in its earlier filing had reported value of its holding at $ 5,416,421, or $ 103.96 per share, as on November 30, 2015.

Flipkart did not comment on the development.

At the same time, Fidelity has reported around 13 per cent increase in its investment made in online retail major Amazon.

Fidelity reported value of its 281,493 shares in Amazon. com at $ 211,280,201 implying value of $ 750.5 per share as on November 30, 2016.

Fidelity had earlier reported value of its 191,893 shares in Amazon.com at $ 127,570,466 as on November 30, 2015, which is $664.79 per share.

Flipkart is an electronic commerce company headquartered in Bangalore, Karnataka.