Top headlines: Voda Idea gets govt helping hand; bids come in for Air India

Business Standard brings the top headlines of the day

The disinvestment process of the national carrier Air India entered its last stage with the Tata group and SpiceJet promoter Ajay Singh submitting financial bids. Vodafone Idea received a big relief on Wednesday after the Cabinet cleared a proposal for telcos.

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

Tatas, Ajay Singh submit bids to acquire Air India

The Tata group and SpiceJet promoter Ajay Singh have submitted financial bids for acquiring Air India as the disinvestment process of the debt ridden national carrier entered its final stage. This comes three years after a failed attempt by the government to sell Air India. Read more

GST Council likely to reject plea on indirect tax

A request from statutory bodies like the Competition Commission of India (CCI) and the International Financial Services Centers Authority (IFSCA) for exemption of indirect tax on the services they provide is likely to be rejected at the upcoming meeting of the Goods and Services Tax (GST) Council. Read more

Govt clears telecom package, helps Voda Idea 

Vodafone Idea Ltd has got a big breather, with the Cabinet on Wednesday clearing a proposal for giving telcos a moratorium on their adjusted gross revenue (AGR) dues as well as spectrum payments prospectively for the next four years. According to analysts, the move translates into a relief in the company’s cash outflow by over Rs 65,000 crore. Read more

Cabinet clears asset reconstruction company

Clearing the path for the launch of National Asset Reconstruction Company (NARCL), the Union Cabinet is learnt to have approved the government guarantee on security receipts that will be used to buy bad loans of lenders. The Centre has earmarked about Rs 31,000 crore towards this. Read more

General Rawat reveals shape of 'joint theatre commands'

For the first time, Chief of Defence Staff General Bipin Rawat publicly des­cribed the Indian military’s deliberations on reorganising itself into “integrated theatre commands”. These are warfighting entities, containing army, navy and air force components, that would fight jointly to focus and synergise the combat power of all three services. Read more