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CEO Reading List: December 21, 2019

| Updated on December 21, 2019 Published on December 21, 2019

Did you miss all the important news on the economy this week because you were wrapping up work ahead of the holiday season? Well, don’t fret. Here’s a curated reading list of BL’s top stories on the subject this past week.

No consensus

For the first time ever, consensus eluded the GST Council meeting this week as it decided to tax lotteries at 28 per cent. State FMs also urged the government to let the fiscal deficit slip to 4 per cent. 

Read more: GST Council fixes 28% uniform rate for lottery

Twist in the tale

In a bid to reduce borrowing costs and flatten out the yield curve, the RBI did its own version of Operation Twist last week, buying Rs 10,000 crore worth of long term g-secs and selling an equal amount of short-term g-secs.

Also read: RBI to buy, sell G-Secs worth ₹10,000 crore

Impeached

Donald Trump became the third US President in history to be impeached by the House of Representatives. But the move may be symbolic only, as the Senate is unlikely to vote him out.

Also read: Trump impeachment: What happens next?

Aye to Brexit

UK moved one step closer to Brexit with the British Parliament approving the Boris Johnson deal. 

Read more: British PM Johnson wins Brexit deal vote

Heating up

Oil prices have been quietly climbing as everyone’s been focussed on trade wars and impeachments.

Also read: Oil prices surf near 3-month highs after US crude inventories fall

Pep talk

In a bid to get investments restarted, the PM assured companies and banks that no actions would be taken against genuine decisions.

Read more: PM to banks, India Inc: no inappropriate action on genuine commercial decisions

Tax tinkering

A consumption boost may be coming with government sources hitting at a personal income tax cut.

Also read: Budget likely to cut tax rates for individual taxpayers, say sources

Going retail

Retail loans will double in the next five years to Rs 96 lakh crore says an ICICI-Crisil study

Also read: Retail loans seen doubling to ₹96-lakh cr in 5 years

Passing the baton

Anand Mahindra is handing over the reins of M&M to Pawan Goenka come April 1.

Also read: Anand Mahindra to step down as Chairman of M&M from April 1 next

 

Compiled by Aarati Krishnan

Published on December 21, 2019
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