The business wrap: LPG subsidy savings less than Centre’s claims, finds CAG, and 7 other top stories
Nitish Kumar will back the government’s Goods and Service Tax Bill, and Twitter said all users can now get verified blue ticks for their accounts.
A look at the headlines in the sector right now:
- CAG report refutes Centre's LPG claims, says total savings are Rs 2,000 crore, not Rs 22,000 crore: The audit found problems with the government's direct bank transfer scheme, such as subsidy for domestic consumption being diverted for commercial use.
- Nitish Kumar says he will back the Centre’s GST Bill: This leaves the Congress, JD(U)'s alliance partner in Bihar, with little support for its opposition to the legislation.
- Twitter allows all users to apply for verified ‘blue tick’ accounts: The micro-blogging site said it hopes the online process will help Twitterati find “high-quality accounts to follow' and 'connect with a broader audience”.
- FDI limit in print media sector to remain unchanged at 26%: The government had proposed raising the FDI cap to 49% to bring it on par with news television channels.
- Canada’s Brookfield plans $1 billion investment in Indian distressed assets: Brookfield and SBI have signed a preliminary agreement to set up a joint venture for the investments.
- Jairam Ramesh accuses ex-RBI chief of stirring unnecessary controversy in his memoirs: The former minister said Duvvuri Subbarao did a “grave injustice to his political masters”.
- 13 PSU banks get Rs 22,915 crore in capital from the government: The Finance Ministry said the funds were provided so that the state-owned banks can expand their lending services and raise money from the market.