From GST Council meeting to cyclone Nada: 5 key developments

In other news, Reliance extends Jio free voice, data till March

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

Demonetisation seen dominating GST Council meeting starting today 

Forecasts about the adverse impact of demonetisation on the economy have weakened the resolve of the Narendra Modi government to push the goods and services tax (GST) related Bills in the ongoing winter session of Parliament. Finance Minister Arun Jaitley-chaired GST Council will meet on Friday, not just under the shadow of protests by the West Bengal and the Kerala governments — both of which are of the view that the time is not right for GST rollout because of the brunt that state finances have suffered after demonetisation — but also a “wait and watch policy” of the Congress-ruled state governments.

 

Reliance extends Jio free voice, data till March

Mukesh Ambani-owned Reliance Industries (RIL) further extended the free usage period for Jio services to its existing and new customers till March 31, 2017, pushing the start of Jio’s commercial operations to the next financial year. “Starting December 4, 2016, every new Jio user will get Jio’s data, voice, video and the full bouquet of Jio applications and content, absolutely free, till March 31, 2017. We are calling this Jio Happy New Year offer. The benefits will be available to all subscribers signing up for Jio services up to March 3, 2017,” said Mukesh Ambani, chairman, Reliance Industries, in a live video address over the firm’s social media channels to its stakeholders. 

Mamata protests presence of Armymen at toll plaza

West Bengal Chief Minister Mamata Banerjee on Thursday accused the Centre of creating a situation “worse than Emergency” by deploying army personnel at two toll plazas on a national highway without informing her government. Talking to reporters at the state secretariat, she alleged army was deployed at two toll plazas at Palsit and Dankuni on NH2.

Auto sales ride past the potholes of currency purge 

The passenger vehicle market felt the jitters of the government’s move to demonetise high-value currency of notes Rs 500 and Rs 1,000, with wholesale volumes rising by just four per cent last month. However, some companies, including market leader Maruti Suzuki, Tata Motors and Toyota Kirloskar, managed to post double-digit increase in November, as dealers indulged in building the inventory after Diwali and also brace for the ongoing marriage season.

Cyclone Nada to cross Tamil Nadu on Friday

The coastal areas of Tamil Nadu and Puducherry has experienced moderate to heavy rain from Thursday morning, though the cyclonic storm Nada is likely to weaken into Deep Depression and cross North Tamil Nadu coast, south of Cuddalore by earlier hours of December 2. While on Wednesday, the predication was that Nada will hit the Tamil Nadu coast on December 2, resulting in very heavy rainfall in the northern part of the state. Later, the weather department said that the storm is likely to weaken.