Data protection Bill arms Centre with exemption powers; tech firms worried
The Personal Data Protection Bill, which was cleared by the Cabinet last week, gives the Centre powers to exempt any agency from the provisions of the legislation. The Draft Bill was circulated to Lok Sabha members on Tuesday, and is scheduled to be tabled in Parliament on Wednesday. It may be referred to a joint select committee subsequently. Read more.
New GST rates likely from April 1; rate structure decision on Dec 18
Consumers must brace themselves for higher goods and services tax (GST) rates from April 1, with the GST Council likely to decide on overhauling the rate structure next week in a bid to boost revenue collection. Proposals from the Centre’s side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move because it involves hiking tax on items consumed by the poor. They have instead proposed raising the 18 per cent slab. Read more.
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The government is likely to miss its fiscal deficit target for 2019-20 (FY20) and the actual number could be anywhere between 3.5 per cent and 3.8 per cent of gross domestic product (GDP), as against the budgeted 3.3 per cent, top government officials told Business Standard. Read more.
Yes Bank mulls Citax Holdings offer, Erwin Singh Braich still in fray
Private sector lender Yes Bank has told the exchanges it is considering the $500 million offer made by Citax Holdings and Citax Investment Group. A decision regarding allotment will be taken at the next board meeting. Read more.
Paradigm shift in making: Non-metros take to online video streaming
Online video viewership is steadily growing in the non-metro cities in India leading to growth in demand for regional content, revealed the India Watch Report 2019, released by premium streaming platform Hotstar that crossed 400 million downloads this year. Read more
Lack of bilateral pacts may hamper India's trade, investment positions
Experts say the lack of bilateral investment pacts with most major nations may hamper India's position. After unilaterally terminating pacts in 2016, India has pushed for individual deals based on Bilateral Investment Treaty. Three years later, few have materialised. Read more.
Liquidity crunch is mostly behind us, says Tata Sons' N Chandrasekran
The liquidity crunch that had gripped various sectors after the IL&FS crisis is mostly behind us, said N Chandrasekran, chairman, Tata Sons at ExpressAdda, an Indian Express event on Tuesday. Read more
Coal linkage rationalisation helps thermal plants save Rs 3,770 cr annually
Coal India Ltd (CIL) on Tuesday said about 58 thermal power plants (TPPs) in the country are saving around Rs 3,770 crore per annum in coal transportation cost after the miner had implemented the fuel linkage rationalisation. Read more.
EaseMyTrip Plans to Raise Rs 700 cr from Public Issue
EaseMyTrip is set to become the first online travel agency to be listed on the Indian stock market as it plans a Rs 700 crore maiden public share sale, according to sources quoted in a report by The Economic Times.
Million-$ CEO club swells with record 22 new entrants in FY19
In what has turned out to be by far the best fiscal for the elite club in the last four years despite the falling rupee, the number of CEOs earning a million-dollar (Rs 7 crore) salary annually surged to 146 from 124 in the previous year — an 18% jump, according to a report by Times of India.