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Politics Business Expressions General Sports Leisure States 30 March 1998   Tax concessions unlikely in budget Faced with a high fiscal deficit and falling revenue collections, the BJP government has an arduous task in preparing the full-fledged budget for 1998-99 and there is little elbow room for granting any tax concessions. With fiscal deficit soaring to 6.1% of GDP in 1997-98 against the projected 4.5%, the finance minister Yashwant Sinha will have to work double time.   UTI accounting policy changes benefit US64 The Unit Trust of India (UTI) has made significant changes in its accounting policy in 1996-97 (July-June) which have had different impact on various schemes managed by the trust. US 64 happens to be the single largest beneficiary with accretions of over Rs 98 crore to reserves. DCA seeks nod for govt director on Dunlop board The Department of Company Affairs will seek the Company Law Board's approval for appointment of a government director on the board of tyremaker Dunlop India Ltd under Section 408 of the Companies Act. The DCA's move was cleared by the finance ministry on March 5 this year. Inflation drops below 5% mark For the first time in 11 weeks, the annual rate of inflation went below the 5 cent mark to finish the week ended on March 14 at 4.92%. During the week, the annual rate of inflation based on the wholesale price index (WPI) eased by 0.15 percentage points to 4.92% (provisional) from 5.07% (P) the week before and 7.22% during the corresponding week last year.   ITC plans reshuffle to fill top positions In a top level reshuffle at tobacco major ITC Ltd, Kurush N Grant is tipped to take additional charge of sales. Grant is currently the head of brands in ITC's tobacco division. The restructuring is aimed at filling up the void created by Kamal Ramnath's death in November, 1996. Hard times for hostile takeovers The fate of hostile takeover bids seems to have been sealed. With financial institutions not showing much enthusiasm and the existing promoters of takeover targets putting up a spirited fight, it is unlikely that the much-trumpeted hostile takeover bids will become a success. Three open offers -- that too hostile ones -- have been made in the last two months.     Excise probe into Bausch & Lomb   Quickbites   Opening windows behind closed doors   `Mergers are unlikely in the Indian banking sector'   Guestcolumn By V. Suresh   SiteinSight   Faith flows   Edible oil prices up, exports slip   Investors in soup as Agro bonds flop   CBI dredges up scams from sunken ship