ICICI Prudential Mutual Fund new issue closes on 7th March
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan - Series 55-15 Months Plan B, a close-ended income scheme.
The investment objective of the plan is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenor of the plan is 15 months.
The new issue opens on 28th February and closes on 7th March. The minimum investment amount is Rs5,000.
CRISIL Composite Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager
Birla Sun Life Mutual Fund new issue closes on 28th February
Birla Sun Life Mutual Fund has launched Birla Sun Life Short Term FMP-Series 10, a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 91 days from the date of allotment.
The new issue opens on 28th February and closes on the same day. The minimum investment amount is Rs5,000.
CRISIL Liquid Fund Index is the benchmark index. Kaustubh Gupta would be the fund manager for the scheme.
Food, fuel and fertiliser subsidies for 2011-12 estimated at Rs1,34,210 crore compared to Rs1,53,962 crore in the current financial year
New Delhi: The government has pegged the outgo on food, fuel and fertiliser subsidies in the 2011-12 at about 13% lower than that in the revised estimates for the current fiscal. According to the budget proposals, the government's subsidy bill on food, petroleum and fertilisers is estimated at Rs1,34,210 crore for the financial year 2011-12, compared to Rs1,53,962 crore in the revised estimates for the current financial year.
The oil subsidy which is given to state-run oil firms such as Indian Oil, BPCL and HPCL, for selling diesel, domestic LPG to households and kerosene through the PDS system below cost, is estimated at Rs23,640 crore for FY12, compared to Rs38,386 crore in the current fiscal, PTI reports.
The government's food subsidy, given to run the public distribution system, is estimated to decline marginally to Rs60,572 crore in the next fiscal from Rs60,599 crore. Food subsidy is provided to meet the difference between the economic cost of foodgrains and the sales realisation at the central issue price fixed under the public distribution system (PDS) and other welfare schemes.
The fertiliser subsidy is also pegged lower at Rs49,997 crore in the next fiscal, as against Rs54,976 crore in the 2010-11 financial year. Under the fertiliser subsidy, the government would provide Rs13,308 crore for indigenous (urea) fertilisers, Rs6,983 crore for imported (urea) fertilisers and Rs29,706 crore for the sale of decontrolled fertilisers (DAP, MOP and complexes) at a subsidised rate to farmers.