News

The CEO’s Reading List: Nov 23, 2019

| Updated on November 23, 2019

Missed all the important economy and policy news this week because you were neck-deep in work? Here’s a curated list of BL’s top stories on the subjects through the week for you to catch up. 

Privatisation at last 

In the first such attempt after 2002, the Government is kicking off strategic sales of large stakes in PSUs to private buyers while ceding management control. Of the five PSUs cleared for strategic sales by CCEA – BPCL, Concor, Shipping Corporation, Tehri Hydro Power and North Eastern Electric Power Corporation, the last two will be acquired by NTPC.   

Read: https://www.thehindubusinessline.com/economy/union-cabinet-approves-key-disinvestment-proposals/article30029596.ece

Under protest

But the move to disinvest profitable PSUs is meeting with stiff opposition from the employees and officers’ unions of PSUs who are likening it to the sale of “family silver.” 

Read: https://www.thehindubusinessline.com/economy/policy/oil-psu-officers-maharatna-cos-association-oppose-privatisation/article30053020.ece

Red carpet to FDI

The DIPP is readying detailed plans to make a pitch to 324 global firms from Tesla to GSK and Eli Lilly to come up and set up factories in India. The investors will be provided land, power, water and other infrastructure access. 

Read: https://www.thehindubusinessline.com/economy/india-plans-incentives-to-bring-in-foreign-firms-from-tesla-to-glaxo/article30025766.ece

Readying for IBC

Using provisions under the new rules for financial firms under IBC, RBI superseded the Board of ailing DHFL, paving the way for an IBC reference.  

Read: https://www.thehindubusinessline.com/money-and-banking/rbi-superseded-dhfl-board-to-initiate-nclt-proceedings-soon/article30028077.ece

Labour law revamp

As a part of its move to rationalise 44 labour laws into four Codes, the Centre approved the Industrial Relations Code Bill this week which ill introduced in the upcoming Parliament session. The bill seeks to subsume laws such as the Trade Unions Act, Industrial Employment Act and Industrial Disputes Act. 

Read: https://www.thehindubusinessline.com/economy/policy/centre-approves-industrial-relations-code-bill/article30034828.ece

Low on charge

In a worrying sign for the economy, power generation slumped 13 percent in October on weak demand.  

Read: https://www.thehindubusinessline.com/economy/power-generation-declines-13-per-cent-in-october/article30035831.ece

AGR relief

Responding to distress calls from the telecom companies, the Cabinet agreed to defer the AGR payments by two years, saving Reliance Jio, Airtel and Vodafone Idea Rs 42,000 crore 

Read: https://www.thehindubusinessline.com/info-tech/cabinet-approves-two-year-moratorium-on-spectrum-payments-for-telecom-companies/article30029609.ece

Could’ve done better

But could the telecom companies have done something to save themselves such large hits from the AGR ruling? Yes, they could have, argues this analysis. 

Read: https://www.thehindubusinessline.com/opinion/mistakes-made-by-airtel-vodafone/article30008677.ece?utm_source=taboola

Delayed dues

States are complaining about the Centre delaying compensation payouts to them under GST, even as the Centre grapples with slowing GST mop-ups. 

Read: https://www.thehindubusinessline.com/economy/with-40000-cr-due-states-to-press-for-urgent-gst-council-meeting/article30041688.ece

Smart City update

81% of the 5151 projects proposed under the Smart City mission have been tendered but only 25 per cent are completed funds a status update on the initiative. 

Read: https://www.thehindubusinessline.com/news/national/devendra-fadnavis-sworn-in-as-maharashtra-cm-for-second-term/article30058532.ece

US-Bound 

The new rules in the EB-5 Visa program for entrepreneurs to apply for permanent residence in the US came into effect on this week.

Read: https://www.thehindubusinessline.com/news/new-eb-5-visa-rules-come-into-effect-today/article30048720.ece

Compiled by Aarati Krishnan

 

Published on November 23, 2019

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like