News digest: Petrol price freezes, traders to fight Flipkart deal, and more

Govt may have to cut excise duty as price freeze hits oil firms' margins

Marketing margins of oil companies have come under severe pressure with the government freezing the daily revision of petrol and diesel prices ahead of the Karnataka polls. Read more

Tomato farmers see red as 3 years of bumper crop pull down prices

Distress in the farm sector has spread from oilseeds, pulses and cotton to horticulture crops. If it was potato a few weeks ago, tomato farmers are now struggling with low prices.  Read more

Fearing job losses, traders plan to fight Walmart-Flipkart merger

With the biggest retail chain of the world, Walmart, just a few steps away from being the biggest investor and virtual owner of e-commerce major Flipkart, many home-grown trader unions, seller associations and retailers have begun voicing their protest. They are not just approaching officials in the finance and commerce ministries, but are also planning to knock the doors of the Competition Commission of India (CCI), so that the deal can be blocked. Read more

PMO asks agencies to identify beneficiaries of NuPower-Videocon loan case

 

The Prime Minister’s Office (PMO) has ordered the Central Bureau of Investigation and the income tax department to probe transactions involving NuPower Renewables, Videocon Industries and other related parties in connection with the Rs 32.5 billion ICICI Bank-Videocon loan case. The PMO wants the agencies to identify the actual beneficiaries of these transactions made in India and abroad. Read more