The Cellular Operators Association of India had earlier sought a 14-year period to pay off these dues. (Photo: ANI)
Finance Minister Nirmala Sitharaman. (ANI)
The move is aimed at cutting losses at the ride hailing company’s food delivery business in India (MINT_PRINT)

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India’s EV production will rely on imports from China of lithium chemicals used to make cathodes and battery cells. (Bloomberg)
India’s EV production will rely on imports from China of lithium chemicals used to make cathodes and battery cells. (Bloomberg)

India’s electric vehicle ambitions could stumble on lack of Lithium

  • Prime Minister Narendra Modi’s administration unveiled a slew of measures in 2019 to promote the clean-energy vehicles
  • Several plans are under way to build lithium-ion battery factories in India

DHFL’s assets under management are at  ₹1.19 trillion, of which  ₹63,690 crore is in retail loans and the remaining in wholesale.
DHFL’s assets under management are at 1.19 trillion, of which 63,690 crore is in retail loans and the remaining in wholesale.

DHFL lenders ease bidding criteria for prospective buyers

  • Eligibility norms pertaining to minimum net worth, AUM and committed funds were lowered for potential bidders
  • The 4,100 crore claim on DHFL by Prudential International Insurance Holdings has been rejected

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Gita Gopinath, chief economist at the International Monetary Fund, speaks during a news conference ahead of the World Economic Forum in Davos, Switzerland, on Monday (Photo: Bloomberg)
Gita Gopinath, chief economist at the International Monetary Fund, speaks during a news conference ahead of the World Economic Forum in Davos, Switzerland, on Monday (Photo: Bloomberg)

India’s slow growth is a drag on the world: IMF

  • Fund slashes India’s FY20 growth forecast to 4.8%, also trims global outlook
  • 'Growth in India slowed sharply owing to stress in the NBFC sector and weak rural income growth,' said IMF chief economist Gita Gopinath

A slowdown in consumption, raising the threshold for GST registration, tax cuts and instances of tax evasion have contributed to the GST revenue shortfall (Photo: PTI)
A slowdown in consumption, raising the threshold for GST registration, tax cuts and instances of tax evasion have contributed to the GST revenue shortfall (Photo: PTI)

Govt could be losing 5 tn in GST revenue over defaults, evasion

  • The revenue loss is equivalent to 2.4% of GDP or 40% of the GST collection target
  • GST authorities have zeroed in on about 40,000 companies for claiming excess or wrongful tax rebates

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'The board discussed the current state of the financial sector with special focus on the regulatory and supervisory architecture of commercial and cooperative banks as also NBFCs,' the minutes said
'The board discussed the current state of the financial sector with special focus on the regulatory and supervisory architecture of commercial and cooperative banks as also NBFCs,' the minutes said

RBI pre-empts RTI by releasing minutes of October board meet

  • This is the first time RBI has revealed the proceedings of its central board to the public
  • The minutes of the 579th meeting were released as part of the central bank’s transparency initiative

Gold prices today: On MCX, gold rates moved higher to  ₹40,128 per 10 gram
Samsung on Twitter announced that the Galaxy Note 10 Lite will launch tomorrow in India (Samsung)
Police stop farmers trying to lay siege to the assembly in protest against the three-capital proposal for state of Andhra Pradesh,  (MINT_PRINT)
Axis MF ESG fund: The New Fund Offer (NFO) for the fund will run from 22 January to 5 February
Axis MF ESG fund: The New Fund Offer (NFO) for the fund will run from 22 January to 5 February

Axis MF launches ESG fund with foreign twist

  • Its partial allocation to foreign stocks places the fund in a unique basket of hybrid India-international combo funds which benefit from equity taxation while participating in foreign markets.

This service allows the bank customers to withdraw cash from any ICICI Bank ATM without a debit card 24X7. (Reuters)
This service allows the bank customers to withdraw cash from any ICICI Bank ATM without a debit card 24X7. (Reuters)

ICICI Bank introduces new way of ATM cash withdrawal

  • ICICI Bank's cardless cash withdrawal facility is safe and secure
  • This service allows the bank customers to withdraw cash from any ICICI Bank ATM without a debit card 24X7

Flight operations of all airlines are likely to be impacted. (Pradeep Gaur/Mint)
The Competition Commission of India has approved the divestment of Reliance Jio Infocomm Ltd’s telecom tower assets to Canada's Brookfield Infrastructure
Zomato, which CB Insights valued at $2.2 billion, confirmed the sale in a blogpost Tuesday but didn’t specify details of the transaction. (Photo: Reuters)
Zomato, which CB Insights valued at $2.2 billion, confirmed the sale in a blogpost Tuesday but didn’t specify details of the transaction. (Photo: Reuters)

Uber sells India food business to rival Zomato to cut losses

  • Uber Technologies has agreed to sell Uber Eats in India to local rival Zomato, underscoring the US ride-hailing giant’s effort to cut back on loss-making operations globally
  • Uber will offload the business in return for 9.9% of the Indian startup

Fire breaks out in Surat's Raghuveer Market. (ANI)
In July, Sitharaman said the government would inject 700 billion rupees ($9.9 billion) of capital into state-run banks, including Union Bank of India, Bank of Baroda and Canara Bank.
In July, Sitharaman said the government would inject 700 billion rupees ($9.9 billion) of capital into state-run banks, including Union Bank of India, Bank of Baroda and Canara Bank.

Union Budget: Here’s how the ‘winners’ from budget last year fared

  • Finance Minister Nirmala Sitharaman prepares to deliver her second budget on February 1
  • Here’s a look at how the expected winners from last year’s fiscal plan fared

Earlier on January 1, Paswan had said that 'one nation, one ration card' scheme has been started in 12 states in the country on the first day of the New Year.
Earlier on January 1, Paswan had said that 'one nation, one ration card' scheme has been started in 12 states in the country on the first day of the New Year.

'One nation, one ration card' scheme to be implemented by June 1 across India

  • 'We will implement the 'one nation, one ration card' scheme by June 1 in the whole country,' says Ram Vilas Paswan
  • Under this scheme a beneficiary will be able to avail benefits across the country using the same ration card

U.S. President Donald Trump  (REUTERS)
The unemployment rate among males in the 15-29 age group was 18.7% and for females it was 27.2%, according to the Periodic Labour Force Survey 20178-18
The unemployment rate among males in the 15-29 age group was 18.7% and for females it was 27.2%, according to the Periodic Labour Force Survey 20178-18

Budget’s biggest task is to create employment opportunities

  • The impact of the slowdown has been accentuated by the absence of jobs. People hope that the budget will ease this pain point
  • The economy is going through a tough time with GDP growth sliding to 4.5% in the September quarter, the lowest since March 2013

Photo: iStock
Photo: iStock

Opinion | Our GST has deficiencies but let us not jump to judgement

The regime may have had teething issues but it has now stabilized and will show results in time

Photo: iStock
In New Delhi, a litre of petrol today costs  ₹74.82 and diesel  ₹68.05. In Mumbai, a litre of petrol comes at a price of  ₹80.42 a litre and diesel  ₹71.35 a litre. (Bloomberg)
Thanks to the higher provisions, the net non-performing assets stood at about 0.89% in Q3 (Photo: Bloomberg)
Photo: ANI
A Sukhoi-30MKI fighter jet lands at the Thanjavur airbase during its induction ceremony into the Indian Air Force on Monday. (PTI)
A Sukhoi-30MKI fighter jet lands at the Thanjavur airbase during its induction ceremony into the Indian Air Force on Monday. (PTI)

IAF deploys 6 Sukhoi jets in TN, boosting capabilities in Indian Ocean

  • The development comes against the backdrop of China increasing its presence in the Indian Ocean region
  • Defence ministry says the Sukhois will ‘provide protection to our island territories and sea lines of communication in the Indian Ocean Region’

Bank of Baroda has already been merged with two smaller state-run banks - Dena Bank and Vijaya Bank
Former IAS officer Yudhvir Singh Malik will chair the board, which will craft a scheme in two months to accelerate Unitech’s pending projects. (HT)
Former IAS officer Yudhvir Singh Malik will chair the board, which will craft a scheme in two months to accelerate Unitech’s pending projects. (HT)

Supreme Court clears government’s 7-member board to take over Unitech

  • The court also granted a two-month moratorium from any legal proceedings against the new management.
  • The bench clarified that no existing projects shall be stalled by the appointment of the new board.

Bharti Airtel, which has to pay  ₹35,586 crore to the govt by 24 Jan, and Vodafone Idea, which owes the govt  ₹50,000 crore, had on Thursday also said they were evaluating filing curative petitions (Photo: Mint)
Bharti Airtel, which has to pay 35,586 crore to the govt by 24 Jan, and Vodafone Idea, which owes the govt 50,000 crore, had on Thursday also said they were evaluating filing curative petitions (Photo: Mint)

Vodafone Idea, Airtel, Tata file joint plea in SC for more time to pay AGR dues

  • Modification application, in which telcos may present a definite payment plan, is likely to be heard in SC on Tuesday
  • The modification application is the final attempt by the debt-laden telcos to negotiate for an easier payment schedule with the DoT

Long Reads
Retail food inflation climbed to 14% in December, the highest in six years. Given gross domestic product growth slowed down to just 5%, this has stoked fears of stagflation

Why food inflation may turn sticky

9 min read . 12:11 AM IST
Samsung displayed its ‘artificial human’ called NEON (right), at the Consumer Electronics Show 2020 in Las Vegas. (Photo: Getty Images)

The age of artificial humans is here

11 min read . 16 Jan 2020
Photo: iStock
Poor women and girls—at the bottom of the economic heap—put in  ₹19 trillion of unpaid care work a year, said Oxfam India.
Poor women and girls—at the bottom of the economic heap—put in 19 trillion of unpaid care work a year, said Oxfam India.

Richest 10% of Indians have three-fourths of nation’s wealth: Oxfam

  • The top 1% holds over four times the wealth held by 953 million, who make up the poorest 70% of India’s population
  • The report, 'Time to care', released in Davos, Switzerland said the bottom 50%, the majority of the population, has a mere 2.8% share of the national wealth

PM Narendra Modi with newly elected BJP national president J.P. Nadda (centre) and home minister Amit Shah (right), at the party headquarters in New Delhi on Monday. (Ramesh Pathania/Mint)
PM Narendra Modi with newly elected BJP national president J.P. Nadda (centre) and home minister Amit Shah (right), at the party headquarters in New Delhi on Monday. (Ramesh Pathania/Mint)

Former Union minister Nadda unanimously elected BJP chief

  • Nadda takes the reins at a time when the party is facing pressure over the controversial citizenship Act, NRC
  • The immediate electoral challenge for Nadda will be Bihar in Nov and Bengal in May 2021

Retail food inflation climbed to 14% in December, the highest in six years. Given gross domestic product growth slowed down to just 5%, this has stoked fears of stagflation
Retail food inflation climbed to 14% in December, the highest in six years. Given gross domestic product growth slowed down to just 5%, this has stoked fears of stagflation

Why food inflation may turn sticky

  • Despite the slowdown in rural demand, the spike in food prices is not showing any signs of cooling. Here’s why
  • This is the best time for the budget to address the volatility in food prices. Reliable market intelligence on crop production and timely advisories to farmers can help stabilize prices

The EasyDay app is limited to customers in Delhi-NCR.
Plain Facts
Unless the govt pulls back spending sharply in the last quarter, we are about to witness a major fiscal slip this year (Photo: Reuters)

How deep is India's fiscal hole?

5 min read . 20 Jan 2020
Scholars attribute the Indian Constitution’s endurance to its design and the care with which it was crafted (Photo: HT)

The Indian Constitution, in numbers

5 min read . 20 Jan 2020
Rafael Nadal of Spain and Karolina Pliskova of Czech Republic.

The European stamp on tennis

4 min read . 17 Jan 2020
Farmer suicides may not have risen in recent years and may have more complex causes than falling income, suggests new data (Photo: Bloomberg)

The geography of farmer suicides

3 min read . 16 Jan 2020
Unless the govt pulls back spending sharply in the last quarter, we are about to witness a major fiscal slip this year (Photo: Reuters)
Unless the govt pulls back spending sharply in the last quarter, we are about to witness a major fiscal slip this year (Photo: Reuters)

How deep is India's fiscal hole?

Taking into account a likely shortfall in revenue and off-budget spending, the real fiscal deficit could be as high as 5.5% of GDP in the current fiscal

From left) Kuldip Kumar of PwC, Shyam Sekhar of iThought, Madan Sabnavis of CARE Ratings and Naveen Wadhwa of Taxmann
From left) Kuldip Kumar of PwC, Shyam Sekhar of iThought, Madan Sabnavis of CARE Ratings and Naveen Wadhwa of Taxmann

Is there room for income tax cuts in Budget 2020?

At a time when economic growth is trending southwards and consumption has taken a hit, hopes are high that FM Sitharaman will announce some incentives in the upcoming budget. Disha Sanghvi and Ashwini Kumar Sharma ask experts if the govt has room to accommodate further tax cuts considering the widening fiscal deficit

Davos 2020
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On 31 December, 2019, WhatsApp withdrew support for Windows Phones (Bloomberg)