Top biz headlines: Govt to sell stake in PSUs, labour law reforms, and more

From financial relief to telcos to states considering legal action against Centre for delay in GST dues, Business Standard brings you the top business headlines for the day

1. Privatisation push: Cabinet approves strategic sale of BPCL, 4 other PSUs

The Cabinet Committee on Economic Affairs on Wednesday approved the strategic disinvestment of the Centre’s entire stake in Bharat Petroleum (BPCL), Shipping Corp, THDC India, and NEEPCO, and most of its stake in Container Corp, while giving up management control in these companies.

It also gave an in-principle approval for the government to reduce stake in certain state-owned companies to below 51 per cent in some while retaining majority stake management control. Read more.

2. Breather for telcos: 2-year moratorium on payment of