NTPC appoints Arup Roy Choudhury as CMD

NTPC Ltd said it appointed Arup Roy Choudhury as its chairman and managing director (CMD).

Earlier, Mr Roy was the CMD of National Buildings Construction Corp Ltd.
On Wednesday, NTPC shares closed 0.6% up at Rs196 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.3% higher at 18,205 points.

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Fiscal deficit falls 42% to Rs91k crore during Apr-July

New Delhi: The Centre's fiscal deficit fell by 42% to Rs90,915 crore during April-July, 2010, year-on-year, on increased revenue receipts from the auction of third generation (3G) spectrum, reports PTI.

The deficit represents 23.8% of the estimate for the current financial year. The budget for 2010-11 estimates the fiscal deficit, which represents excess government expenditure over its revenue, at Rs3,81,408 crore.

Towards the end of the first quarter, the government had collected over Rs1.06 lakh crore through the sale of spectrum (radio waves) for both 3G and Broadband Wireless Access (BWA) against the budget target of Rs35,000 crore.

In the first four months of the current fiscal, non-tax revenue receipts were Rs1,25,703 crore, 84.9% of the full year target. During the corresponding period last year, non-tax revenue receipts were at 13.6% of the estimate.

On the other hand, tax revenue receipts during April-July period reached 21.1% of 2010-11 estimate at Rs1,12,821 crore. The overall revenue receipts target is pegged at Rs5,34,094 crore for the current fiscal.

The total expenditure in the first four months of the current fiscal stood at Rs3,32,700 crore, thereby reaching 30% of the target for the full year.

The plan expenditure during April-July period is at Rs1,09,800 crore while non-plan expenditure stood at Rs2,22,900 crore.

The government's expenditure for the current fiscal is targeted at Rs11,08,749 crore. The revenue deficit in the first four months of the current fiscal stood at Rs50,075 crore, representing 18.1% of the target for the full fiscal.

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Tata Communications opens Exchange data centre in Singapore

Tata Communications said it has opened Tata Communications Exchange (TCX) data centre in Singapore, built to meet the growing IT outsourcing needs of enterprises in Asia Pacific.

The six-storey data centre in Tai Seng will provide increased capacity for both domestic and international firms, bringing them cost and resource efficiencies as well as greater IT service availability and performance.

TCX is part of the $430 million that Tata Communications pledged to invest in Asia Pacific between 2009 and 2011. TCX will also support Tata Communications' cloud computing and managed hosting and storage services to be launched in the near future, the company said in a regulatory filing.

On Wednesday, Tata Communications shares gained 4.9% to Rs348 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.3% higher at 18,205 points.

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