Top headlines: Future seeks time; RIL weighs in on Videocon's oil assets

The government's borrowing in the FY23 Union Budget may get trimmed by Rs 63,500 crore. More on that in our top headlines.

Reliance Industries Ltd, India’s largest company in market valuation, is planning to make a bid for Videocon’s oil assets after the lenders called for fresh bids for them. More on that in our top headlines. 

Future Retail asks SC two weeks' time to arrive at a solution with lenders 

Kishore Biyani's Future Retail (FRL) has sought two weeks from the Supreme Court (SC) to hammer out a solution with lenders on the issue of clearing dues and avoid being tagged a non-performing asset (NPA).  Read more

Reliance Industries plans to make a bid for Videocon's oil assets 

Reliance Industries Ltd (RIL), India’s largest company in market valuation, is planning to make a bid for Videocon’s oil assets after the lenders called for fresh bids for them. If RIL succeeds in acquiring them, it will be its another big-ticket acquisition under the Insolvency and Bankruptcy Code (IBC), 2016, after it won the race for Alok Industries, a textile firm, and Reliance Communications’ telecom tower assets. Read more

Want to push new exemption-less tax regimes further: Revenue Secretary 

On the face of it, a 9.6 per cent gross tax revenue growth rate in FY23 on the back of 11 per cent nominal GDP growth may seem like a reasonable target. However, Revenue Secretary Tarun Bajaj says if one removes the lower expected proceeds from excise duties, the revenue growth target is a much more challenging 14 per cent, something which he will strive to meet. Read more

Budget 2022: Gati Shakti to take states on board, says DPIIT Secretary 

Land acquisition-related challenges can be resolved to a great extent through the PM Gati Shakti, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain tells Shreya Nandi in an interview. He also says the kirana stores will benefit the most from the government’s Open Network for Digital Commerce (ONDC). Read more

Budget 2022-23: Gross borrowing likely to fall Rs 63.5K crore in FY23 

The massive borrowing plan announced by the government in the FY23 Union Budget may get trimmed by Rs 63,500 crore. This is because the Reserve Bank of India, earlier, had announced that the government has opted for conversion or switch of securities with market participants. Read more