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News digest: GST Council meet, Alok Verma's removal, TCS results, and more

BS Web Team/ 11 Jan 19 | 02:51 AM

Govt doubles GST exemption limit for MSMEs; 2 million businesses to benefit

Two million additional micro, small and medium enterprises (MSMEs) in India will become eligible to opt out of the goods and services tax (GST) system from the beginning of the next financial year, the GST Council decided on Thursday. Read more here

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PM-led committee removes Alok Verma as CBI chief 48 hrs after reinstatement

The high-level selection committee led by Prime Minister Narendra Modi has removed Alok Verma 48 hours after he was reinstated as director of the Central Bureau of Investigation (CBI) by the Supreme Court. Read more here

TCS net profit crosses Rs 8,000-crore milestone in Q3, jumps 24% y-o-y

The country’s largest information technology (IT) services company, Tata Consultancy Services, earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). This was in line with market expectations, though revenue and operating margins missed consensus estimates narrowly. Read more here

Govt to carry over Rs 25,000 crore in pending petroleum subsidies to FY20

The government could carry over as much as Rs 25,000 crore in pending petroleum subsidy payments to the coming financial year (2019-20, beginning April 1), as much as the budgeted estimate for 2018-19, Business Standard has learnt. Read more here

Unemployment rose to a 4-year high during demonetisation: Govt survey

The unemployment rate rose to a four-year high in 2016-17, when the government demonetised old currency notes, at the same time as more people joined the labour force looking for jobs, according to the findings of the Labour Bureau. Read more here

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Sensex

Company Price Gain (%)
Vedanta172.702.64
Reliance Inds.1,351.101.95
Adani Ports367.501.87
St Bk of India299.201.84
NTPC138.051.77

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