News digest: L&T-Schneider deal, GST collections, Air India sale, and more

The goods and services tax revenue collection crossed Rs 1 trillion in April

L&T to sell electrical and automation business to Schneider for Rs 140 bn

In its biggest divestment so far, engineering conglomerate Larsen & Toubro (L&T) on Tuesday said it would sell its electrical and automation business (E&A) to France-headquartered Schneider Electric for a cash consideration of Rs 140 billion. The divestment plan, which was first discussed in the summer of 2015, took three years to mature, it is learnt. Read More 

GST surpasses Rs 1 trn in April, FM says this confirms upswing in economy

The goods and services tax (GST) revenue collection crossed Rs 1 trillion in April, the