Crude boost for India Inc as global oil demand dips over coronavirus epidemic

• Crude-dependent sectors such as aviation likely to gain from price drop
• Industries are realigning their strategy amid energy demand forecasts being cut due to the virus outbreak

Vodafone Idea to part pay AGR dues from loans and internal reserves

• SC’s order hits Voda Idea the most, as it had only ₹12,530 cr reserves as of Dec
• The promoters of Vodafone Idea will not infuse any additional capital to pay its dues to the government

The LIC share sale is a valuer’s nightmare and a banker’s dream

• LIC has not disclosed its embedded value, the most accurate gauge of an insurer’s market value
• The big question is if the business generated by LIC’s agents beats the profitability of smaller private insurers

Indian firms’ Q3 net sales fall to over five-year low

• The silver lining was profit before tax that grew 19.2% in the Dec quarter from a 13.68% drop in the Sep quarter
• Companies arrested a decline in earnings before tax in Q3 as cheaper raw material costs benefited them

Move over Mauritius, FPIs now eye Singapore to channel funds

• Shifting to Singapore will allow category II FPIs to escape the higher tax liability imposed on them in Mauritius
• Foreign funds are making changes to their structures to reduce their tax outgo

Why the House always wins in Goa

• The prevalence of gambling may seem unpleasant because so many people from around India and the world are invested in an entirely different Goa
• A ban on Goans in offshore casinos highlights the murky nature of the gambling business in India’s smallest state

Now, Deloitte stops non-audit services to clients in India

• The move will increase public’s confidence in auditor independence and quality, Deloitte says
• Deloitte is the third auditor to take such a call, after Grant Thornton and PW India

Coronavirus: Death toll rises to 1666,Finance Ministry to assess impact on trade

• All nations must be ready to handle coronavirus cases and prepared to prevent further transmission, says WHO
• The death toll from coronavirus epidemic has climbed to 1,666 after 142 more people died, mostly in the worst-hit Hubei, and the confirmed cases jumped to almost 70,000

Arvind Kejriwal takes oath as Delhi chief minister for third time

• Six other members from previous cabinet, including Manish Sisodia, sworn in
• Kejriwal said the support voters gave to the politics of work will help build a 21st century India

No going back on CAA despite pressure: Modi

• PM says despite global pressure, Union govt would continue to take decisions that are important for the country
• Modi says the govt was committed to work for the betterment of the financially and socially weaker sections

GST Council may discuss payout to states, review tax structure

• Federal indirect tax body may examine the suggestions received from various quarters at its next meet
• The Centre expects to collect ₹98,327 crore by way of cess by 31 March, according to FY21 budget documents.

Airtel, Vodafone Idea, Tata Tele likely to pay AGR dues on Monday: DoT source

• Vodafone Idea said that it is assessing the amount that can be paid towards AGR dues
• The three companies are jointly liable to pay dues of over ₹1 lakh crore, but they have informed the DoT of making only partial payment

Smartphone to turn dearer as stocks run out amid virus worries in China

• Smartphone prices may go up by 6-7%, while that of feature phones may increase 10% over the next 20 days, say analysts
• Premium smartphone won’t be hurt as much as their demand is already low in India

Reimagining the paper trail for the digital age

• Bengaluru’s Stelae works with global aerospace and defence companies to give legacy documents a digital makeover
• An external firm’s software is being embedded into US defence contractor Raytheon’s product line for the first time

Consumption slump hits innovation at FMCG firms

• Product innovations in 2019 were down 25% when compared with a year ago
• In 2019, FMCG firms launched 14,000 products, compared with 19,000 that were launched in 2018

Nine years on, SsangYong struggles to enter fast lane

• The Korean SUV maker has bled every year, except in 2016 when it clocked a net profit
• M&M says it will inject 500 bn won into its ailing unit via its own investments or a third party funding

2 more Indians on quarantined ship off Japan test positive for coronavirus

• India says it will provide all possible assistance to its nationals on the ship to return home after they clear all tests
• A total of 138 Indians were among the 3,711 people on board Diamond Princess ship that arrived at the Japanese coast earlier this month

Rise in coronavirus infections may affect fundraising activity

• Things could worsen if the number of new infections rises sharply, particularly in Asian financial hubs such as Hong Kong and Singapore
• Several large deals, whether equity stake sales or dollar bond offerings, have been closed by Indian companies, in the last couple of weeks

Ahead of FATF meet, India looks to keep up pressure over Pakistan terror funding

• In the case of Hafiz Saeed, New Delhi is expected to point out that his conviction last week can go into appeal
• New Delhi will push for Islamabad to take action against JeM chief Masood Azhar, say diplomats

See pics: It's a first! A seat reserved for a deity on a train by Railways

• The Kashi Mahakal Express inaugurated by PM Narendra Modi on Sunday had a seat reserved for Lord Shiva a.k.a Lord Mahakal
• Even a temple has been drawn on the seat to make people aware that the seat is reserved for Lord Mahakal in Madhya Pradesh's Ujjain, said the authorities

Coronavirus could damage global growth in 2020: IMF

• Kristalina Georgieva said it was 'too early' to assess the full impact of the epidemic
• If the disease is 'contained rapidly, there can be a sharp drop and a very rapid rebound', in what is known as the V-shaped impact, she said

India’s fiscal performance, in nine charts

Among its emerging market peers, India’s fiscal deficit and debt stand out largely because of its inability to raise enough revenues

No timeline to remove I-T exemptions: Nirmala Sitharaman

• The budget 2020-21 has introduced more tax slabs and offers higher limits provided the taxpayer is ready to forego all the existing exemptions
• Addressing a post-budget press conference on 1 February, Sitharaman had said the government intended to remove all I-T exemptions in the long run

DEA had red flagged possible risks over IL&FS crisis in 2018

• According to DEA, 'AMCs having exposure of ₹2,800 crores to IL&FS bonds would get redemption pressure from Corporate Clients'
• DEA added that it was impossible for such mutual fund schemes to get the redemption amounts in a short period of time

Politics of divisiveness can be overtaken by politics of work: Atishi

• The biggest takeaway is that people are voting on the basis of the work being done
• Priority areas for the new government will include water, which we have been talking about

Bank savings account interest rate at 7%. Check latest rates here

• The minimum balance required to maintain a savings account varies from bank to bank
• The insurance cover on your bank deposits have been increased five times

'No role for third party': India rejects UN chief's mediation offer on Kashmir

• 'The issue that needs to be addressed is that of vacation of the territories illegally and forcibly occupied by Pakistan,' said Indian foreign ministry spokesman
• The comments come against the backdrop of some remarks made by the UN Secretary General António Guterres who is on a visit to Pakistan

About 92% of large taxpayers filed annual returns for 2017-18: GSTN

• This is the first time when businesses registered under GST have to file annual return GSTR-9 and reconciliation statement GSTR-9C
• While annual return filing is optional for taxpayers having annual turnover up to ₹2 cr, the same is mandatory for those having annual turnover above ₹2 cr

Xi Jinping's early involvement in coronavirus outbreak raises questions

• Xi said he gave instructions on fighting the virus on 7 Jan and ordered the shutdown that began on 23 Jan of cities at the epicenter of the outbreak
• The disclosure of his speech indicates top leaders knew about the outbreak’s potential severity weeks before such dangers were made known to the public

Lemon Tree’s performance looks decent against pessimism in stock price

• Notwithstanding all this, the company’s December quarter results show it is reaping the fruits of consolidation
• Net revenue at ₹199.6 crore was nearly 40% higher year-on-year

Delhi Police halts protesters’ march to Amit Shah's residence

On Thursday, Shah had said that if the protesters at Shaheen Bagh wanted to discuss their reservations against CAA, his office would give time within three days

Bank frauds this fiscal have their roots in the past

During the first six months of this fiscal, frauds of ₹1 lakh and above, as reported by commercial banks, touched ₹1.13 trillion. This, after frauds worth ₹41,167 crore had been reported in 2017-18. Why is this happening? Mint takes a look