Top headlines: Govt guarantees Rs 30,600-cr for bad bank; GST meeting today

Business Standard brings the top headlines of the day

The winner of the Air India disinvestment process will be declared in three weeks. Vodafone Idea will utilise the relief offered by the government to invest in technology and scout for equity investors.

More on these stories and other top headlines of the day:
 

Amazon, Microsoft swoop in on India farm-data trove

Amazon.com Inc., Microsoft Corp. and Cisco Systems Inc. are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry. Read more
 

Telecom relief likely to cost Rs 14,000 crore to govt

The government’s telecom package, announced on Wednesday and comprising a moratorium on spectrum charges and adjusted gross revenue (AGR) dues for four years, is likely to reduce non-tax revenues from the sector by around Rs 14,000 crore this fiscal year if companies opt for the offer. Read more

Govt may select winner in Air India's disinvestment in 3 weeks

The government will select the winner in Air India’s disinvestment in about three weeks and two high-level committees will finalise the reserve price for the national carrier within this period.

The reserve price of the carrier will be soon decided by the inter-ministerial group (IMG) headed by the secretary, Department of Investment and Public Asset Management (DIPAM), based on the inputs from government-appointed valuers. Read more

5G tech, new equity investors to be Vodafone Idea's calling card

Vodafone Idea (Vi), a joint venture between Aditya Birla Group and Vodafone Group, will continue to scout for new equity investors and invest in new technologies, including in fifth-generation-based technology, after the central government’s bailout package.

The loss-making company will be saving up to Rs 23,000 crore per annum to help it tide over its immediate cash-flow crisis. “It is a big relief to both promoters that the company will not face bankruptcy as was the case before the package,” said a source close to Vi. Read more

Compensation cess and petroleum to fire up GST Council meeting

The meeting of the Goods and Services Tax (GST) Council on Friday in Lucknow, the first physical meeting in over 20 months, is expected to see hectic discussions on two contentious issues between the Centre and the states: Extending the period of compensation cess for states and bringing petroleum products under GST. States are expected to stay firm on their demand to extend the compensation period by another five years, at the existing assumed growth rate of 14 per cent. Read more