Government not to release consumer expenditure survey on grounds of "data quality issues". New insolvency framework in place for financial service providers with regulators in crucial role. Vedanta cuts down its net debt by 29.3 per cent to Rs 20,081 crore in the September quarter. Read for more top stories from the world of business and economy:
Government said that it is separately examining the feasibility of conducting the next Consumer Expenditure Survey in 2020-2021 and 2021-22 after incorporating all data quality refinements.
While the basic character of the insolvency law for FSPs will remain the same, respective regulators will have a significant say in the overall process including the final approval of the resolution process.
The judgement gives a final go-ahead to the resolution of Essar Steel case, one of the largest under the IBC. Second, the verdict paves the way for the amendment made by the government in the insolvency law.
Several experts have recently cautioned against selecting 2017-18 as the new base year for GDP as it was a not a normal year. This financial year witnessed the turbulence from both GST and demonetisation.
Vedanta has spent $7.2 billion so far for expanding the production of oil, zinc, aluminium and copper. Analysts expect the company to substantially gain on better price realisation scenario once the capex cycle is over.