TMS Ep220: Windfall tax, urban flooding, recession-proof stocks, Uber files

The government on Wednesday slashed the windfall tax on domestically- produced crude oil within three weeks after imposing it. It also reduced the levy on exports of diesel and aviation fuel. So, today, we try to find answers to two questions. What may have prompted the government to do this quick turnabout, and who all will benefit from this move?

About 176 km off the west coast of Mumbai, ONGC men are busy retrieving oil and natural gas from one of the country’s largest oilfields -- called Mumbai High Field. While on shore, as the monsoon is in full swing, Mumbai’s civic body men are working overtime to retrieve rainwater from city roads and markets. It has become an annual affair, giving sleepless nights to the municipality. Other cities are no different. A brief spell of rain brings them to a standstill. So why does a good spell of rain bring misery to urban areas rather than joy?

After the monsoon miseries, let us move on to markets which experts say are bracing for winter. Most analysts expect the US economy to enter a recession over the next few months. The impact, they said, will be felt across global financial markets. So, which sectors and stocks are investment-worthy amid this uncertainty? 

After markets, let us focus on a recent controversy involving a cab aggregator. From lobbying world leaders to circumventing local regulations, Uber indulged in many shady practices in its aggressive bid to spread business. And when The Guardian, under the International Consortium of Investigative Journalists or ICAJ, unearthed the dark secrets hidden in its closet, the ride-sharing company blamed it on its former CEO. This episode of the podcast offers insight into the Uber files and more.