News digest: GST composition scheme, Adani to enter airport biz, and more

From RCom open to selling 100% of tower subsidiary to Abbot Point may become a stranded asset, BS brings you up to date with latest news

Composition scheme takes a quantum leap
 
Availing of the benefits of a flat tax rate and easier compliance, the number of businesses opting for the composition scheme under the goods and services tax has gone up by 50 per cent. Read more
 
Ola to raise $2 bn from Tencent, SoftBank
 

India’s largest ride-hailing company, Ola, is in talks with SoftBank and Tencent to raise up to $2 billion in fresh funding at a time when global rival Uber is recovering from a management shakeup that saw founder Travis Kalanick ousted from the role of chief executive officer. Read more

 
Adani’s plan to enter airport business set to take off
 
Port-to-power behemoth Adani Group is set to enter the airport business with an international airport at Mundra, Gujarat. The group has firmed up plans to upgrade the existing airstrip at Mundra to a full-fledged commercial airport with integrated cargo and aerospace operations. Read more
 
RCom open to selling 100% of tower subsidiary
 
Reliance Communications is in discussions with the Brookfield Group to sell up to a 100 per cent stake in its tower subsidiary, instead of the 51 per cent it had earlier agreed upon. Read more

 
Abbot Point may become a stranded asset: Report

The Adani Group's Abbot Point Coal Terminal in Australia faces the risk of becoming a stranded asset if its proposed Carmichael mine fails to get 1 billion Australian dollar (AUD) subsidy, according to a report by US-based Institute for Energy Economics and Financial Analysis (IEEFA). Read more
 
Wish RBI cuts rates, but it may not happen: NITI Aayog's Rajiv Kumar

As the government looks for resources to perk up the economy, NITI Aayog Vice Chairperson Rajiv Kumar tells Indivjal Dhasmana that additional funds could be generated through disinvestment, and that the fiscal deficit should be widened while focusing on the revenue deficit. Kumar refuses to call demonetisation and the goods and services tax (GST) disruptive measures, and says these are “remarkable” structural reforms. Read more