Top 10 business headlines: FM responds to Rahul Bajaj, car sales dip & more

From India's energy consumption growth to RSS' opposition to Air India, BPCL sale, Business Standard brings you the top business headlines of the day

Xiaomi, Samsung compromise on profits in the battle for supremacy

The country’s two leading handset companies, Xiaomi and Samsung, seem to have forgone profitability in the battle for supremacy. In the financial year 2018-19 (FY19), smartphone market leader Xiaomi ended up in the red, while runner-up Samsung’s net profit plunged 59 per cent. Read here

India's energy consumption growth falls

Growth in India’s energy consumption and power supply is at a five-year low. Each month this year except June has seen a fall in demand. Read here

FM responds to Rahul Bajaj 

Finance Minister Nirmala Sitharaman said the statement by Rahul Bajaj, chairman of Bajaj Group, on Saturday that India Inc was afraid of criticising the Narendra Modi government “can hurt national interest, if it gains traction”. Read here

No Festive cheer for auto sector
 

Sales of passenger vehicles in November declined after increasing in the previous month, strengthening industry fears that the short-term cheer was only due to the festive season’s offers. The numbers reported by companies showed that sales of four- and two-wheelers slid by almost 8 per cent. Read here

After three months, GST mop-up goes past Rs 1 trillion

Goods and services tax (GST) collection recovered to a seven-month high in November, crossing the Rs 1-trillion mark on account of the festive season demand and anti-evasion measures by the government. Read here

Telcos on a tariff hike spree

Bharti Airtel and Vodafone Idea on Sunday announced a tariff hike in the range of 15 per cent and 40 per cent across different plans. The tariff hike by both companies will be applicable from December 3, 2019. Vodafone Idea on Sunday said its new plans for its prepaid products and services would be available across India, starting 00:00 hours of December 3, 2019. Read here

AAI for privatisation of 6 airports 

The Airports Authority of India (AAI) has recommended the Centre to privatise airports at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy, a senior government official said. Read here

Air India, BPCL sale faces opposition from RSS think tank

In a repeat of what happened five years back when the Narendra Modi government had to surrender its reforms agenda, particularly its Land Acquisition bill, in the face of opposition from within the Sangh Parivar, the government on Sunday faced renewed resistance from Swadeshi Jagran Manch (SJM) on the issue of privatising public sector enterprises (PSEs). Read here

Infosys BPM expected to double its revenue

Infosys BPM, the business process outsourcing subsidiary of Infosys, is expected to nearly double its revenue to $1 billion in the ongoing fiscal year, as recent acquisitions by its parent are expected to increase business from banking and insurance clients, analysts said, the Economic Times reported

Govt plans panel to scrutinise food ads

In a first such move, the Centre will set up a panel to scrutinise and regulate product feature claims made in advertisements, seeking to fix accountability at manufacturers and help consumers choose food items more objectively, accodring to the Economic Times