TMS Ep228: Discom bailout, Chess Olympiad, markets, Google Street View

Prime Minister Narendra Modi announced a Rs 3 trillion package for reforms in the power distribution sector last week, while blaming “freebies culture” for the mounting dues of the discoms. So, will this package address the problems plaguing the country’s power sector? Or there is more to be done to lift it out of its current crisis? 

From the stalemate on power subsidies, let us move on to the one on chess boards. A small town, about 50km off Chennai, is all decked up, hosting India’s first Chess Olympiad. But a lot of efforts have gone into bringing the coveted international event to Poonjeri Village in Tamil Nadu’s Mamallapuram -- a UNESCO heritage site. Officials and chess wizards from 187 countries are brainstorming there.

Let us move on to markets now. Domestic equity markets firmed up in July as slower FII outflows, ease in commodity prices and robust corporate earnings lifted investor spirits. But is the recent recovery sustainable or is it only a short-term bounce?

While our previous segment offered a peek into the ongoing action on Mumbai’s Dalal Street, our next one will help you take a tour of the country’s financial alley. Google Street View was relaunched in India recently, about six years after being banned from the country. Let us know more about it in this episode of the podcast.