News digest: GST composition scheme, Corporate India's profit, and more

From Jio moves from mobile to fixed broadband and TV space to FinMin seeks to get more oversight on PSBs, BS brings you up to speed with latest news

Composition scheme: Small traders set to get fresh GST relief

A high-level panel on the goods and services tax (GST) in its meeting on Sunday recommended major changes in the new indirect tax system that may ease the compliance burden for all assessees and make the composition scheme more attractive. It also proposed further easing the burden for restaurant owners. Read more

Retail lenders, RIL help India Inc's combined net profit rise 8.6% in Q2

Boosted by a better show by retail lenders, Reliance Industries (RIL), metal companies, and consumer goods makers, the second quarter (Q2) earnings season has started on a positive note for India Inc. Read more

Q2 and Q3 will be bumper quarters for GDP: HDFC Chairman Deepak Parekh

Welcoming the Rs 2.11-lakh-crore recapitalisation plan for public sector banks (PSBs) as a monumental decision, Housing Development Finance Corporation (HDFC) Chairman DEEPAK PAREKH says governance reforms and protection of bank management for decisions on write-offs and settlements for bad loans need attention. Read more

Reliance Jio moves to broadband, TV space after success in mobile telephony

After its success in mobile telephony, Reliance Jio is preparing to disrupt the market once again. This time in the fixed broadband and television (TV) space. The Mukesh Ambani-led company will launch high-speed fibre to the home (FTTH) broadband in more than 30 cities early next year. Read more

Finance ministry for hands-on approach towards govt banks

State-owned banks should expect more government oversight of their operations. “It cannot be business as usual,” says a top government official. Last week, these banks were told another Rs 2.11 lakh crore would be given to them for strengthening their capital adequacy. Read more