Top Headlines: Centre cuts excise on fuel, govt to miss disinvestment goals

Business Standard brings the top headlines at this hour

The govt on Wednesday reducrf excise duty on petrol by Rs 5 a litre and on diesel by Rs 10 a litre. More on that story in our top headlines this morning.
 

Lender invokes Kishore Biyani's stake

Delhi-based lender IFCI has invoked Future group promoter Kishore Biyani’s shares in Future Retail and Future Consumer after the companies failed to repay their loans to the lender. Read more.

Govt cuts excise duty on petrol, diesel

The Centre on Wednesday announced a reduction in excise duty on petrol by Rs 5 a litre and on diesel by Rs 10 a litre. This will come into effect from Thursday, when the country celebrates Diwali, and is expected to boost consumption, and bring down input costs for farmers and businesses. Read more

'Govt unlikely to meet disinvestment target'

The Budget is being made in the context of an economy that is rapidly recovering from the effects of the pandemic to one which could now be back to pre-Covid levels, Finance Secretary T V Somanathan told Shrimi Choudhary in an exclusive interaction. Read more.

Paytm allots Rs 8.2k-cr worth shares to anchor investors

Leading digital payments and financial services platform Paytm allotted Rs 8,235 crore worth of shares to anchor investors as part of its Rs 18,300-crore initial public offering (IPO), which opens on Monday. Read more.

Fed rolls out bond-buying 'taper,

The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove "transitory" and likely not require a fast rise in interest rates. Read more.