New Delhi

Onus of pulses procurement may go to states

The government is planning to shift the responsibility of procuring and distributing pulses to states while the Centre will play a supervisory role in the functioning of Rs 11,000 crore price stabilisation fund (PSF).
Since the fund is huge and the procurement has to be completed within a specified period, states will do a better job if they are provided the necessary policy support and funds, sources in the consumer affairs ministry said.

Trai may move court for smooth IUC rollout

New Delhi: Telecom regulator Trai is likely to file caveats soon in many courts to check the incumbent operators from getting stay against its IUC regulation, which has cut the interconnection charges to 6 paise a minute. “We may file caveats in courts next week to prevent any attempt to subvert the roll out of the new regulation from October 1, 2017, sources said.

Rangarajan sees only 6.5% growth this year

Former RBI governor C Rangarajan (in pic) on Friday said the stimulus package being contemplated by the government to boost economy should focus on raising capital expenditure to catalyse private investment.

He also made a case for recapitalisation of public sector banks (PSBs) so that they could provide more funding to the private sector.

NDTV stock jumps 5% on takeover buzz

Shares of NDTV jumped almost 5 per cent today amid reports that SpiceJet's Ajay Singh is set to take control of the media firm even as the company denied any such move.

Tata Sons now set to become private entity

Tata Sons on Thursday won shareholders’ approval to convert itself into a private limited company, a move that was opposed by ousted chairman Cyrus Mistry, sources said.

Rs 50,000 crore stimulus to boost economy on the cards

Left with little choice and headroom, the government may consider an Rs 50,000 crore stimulus to pump prime the economy.

It may be aimed to provide a boost for the slowdown-hit economy, particularly its worst performing key sectors like exports, infrastructure, manufacturing and MSMEs, where the deceleration has led to a 5.7 per cent growth in the Q1 and threatens to subvert any revival in Q2 as well.

New GST circular adds to confusion

The broad rules on splitting assessees among Centre and state tax officers for administering them could add to further confusion under the goods and services tax (GST) regime that kicked in from July 1. The circular issued by the GST Council secretariat on the principles of dividing taxpayers among authorities leaves certain grey areas while making their distribution unequal.

GoM discusses AI divestment, sans results

In less than a month, the Modi government’s top ministers went into a huddle in North Block again on Wednesday to chart out a disinvestment plan for the ailing national carrier Air India, signalling the urgency to sell it.

The group of ministers (GoM), headed by finance minister Arun Jaitley, is learnt to have taken stock of the progress made so far on selling the airline to private firms.

It was decided by the group of ministers that financial and legal advisors would be appointed at the earliest to speed up the sale process.

No festive cheer for manufacturing

Credit growth in India is unlikely to pick up during the festival season, though improvement is expected in September industrial growth numbers due to restocking by the automobile industry, according to an SBI report on Thursday.

The yearly SBI composite index for September 2017 is at 22-month high of 53.6 (moderate growth) compared with last month’s index of 50.9 (low growth), said the SBI Ecowrap report. The monthly index also jumped to one and half year high of 54.2 (moderate growth) in September, compared with 49.9 (low decline) in August.