From bypoll results to GST exemption list: 5 key developments

In other news, Cyrus Mistry says Ratan Tata wanted to sell TCS to IBM

Business Standard brings to you a list of five key developments across the country.

Bypoll results show BJP untouched by demonetisation

Parliamentary affairs minister Ananth Kumar on Tuesday claimed bypoll results were a thumbs-up for Narendra Modi government’s demonetisation decision. Trinamool Congress chief and West Bengal chief minister Mamata Banerjee claimed those were a vote against demonetisation.

Cyrus Mistry fires fresh salvo at Ratan Tata

Ousted chairman of Tata Sons Cyrus Mistry on Tuesday said several decisions by his predecessor Ratan Tata were taken primarily to satisfy his ego and this resulted in huge financial losses for the Tata group. Mistry also said Ratan Tata had planned to sell the group’s current cash cow and India's largest software exporter TCS to IBM in its initial years but his proposal was rejected by JRD Tata on advice from FC Kohli, who helped set up the company.

Sebi board to give a fillip to angel funding

Capital market regulator Securities and Exchange Board of India (Sebi) is likely to relax guidelines governing angel funds in the country. The regulator could also introduce more checks and balances for compensation agreements between private equity (PE) firms and senior management or promoters of a listed company. The announcements are likely after Sebi board meeting on Wednesday in Mumbai.

Parliament deadlock continues over demonetisation

The Opposition, which has not allowed the parliament to function for the past four days over the note ban issue, said it was planning to bring a contempt of parliament motion against PM Modi as he has not attended the house so far. The deadlock in parliament is basically over two demands that the PM should listen to the concerns of the opposition in the house and the government should debate the note ban issue under a rule which entails voting.

GST exemption list

About 80 items are likely to make it to the exemption list under the proposed goods and services tax (GST), including grains, green coconut, poha, unprocessed green tea leaves, and non-mineral water. Items such as coffee and processed foods like biscuits, rusk, butter and cheese currently exempted from excise duty, may draw GST.