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Biz EOD: Data Protection Bill to burden firms; India's copper output shrinks 6.4%; Big changes likely in GST rates

Catch top stories from the world of business and economy with BusinessToday.In's end of day report

twitter-logoBusinessToday.In | December 11, 2019 | Updated 20:56 IST
Biz EOD: Data Protection Bill to burden firms; India's copper output shrinks 6.4%; Big changes likely in GST rates
Top stories from the world of business and economy

The Personal Data Protection Bill, 2019 is expected to substantiate the managerial, organisational, business practices and technical systems that a company has designed to anticipate, identify and avoid harm to the person whose data is being processed. The domestic production of refined copper in the current fiscal continues to remain stressed falling 6.4 per cent to 229 thousand tonnes in the first seven months. Grocery bills are likely to go up soon if the GST council decides to increase the current 5% tax rate on essential products and services to 6-8% at its meet on December 18. Read for more top stories from the world of business and economy:

1. Personal Data Protection Bill to burden firms with long-drawn, expensive compliance process

Personal Data Protection Bill: Every company that processes data, has to prepare a 'Privacy by Design' policy which must be submitted to the Authority for certification within a specified period.

2. India's copper production shrinks 6.4%; Sterlite Copper, Hindustan Copper see massive slump in output

In the first of this current financial year, consumption of refined copper grew 8.8 per cent against a fall of 2.7 per cent in the corresponding period last fiscal. The domestic copper demand was thus met through imports.

3. Slowdown Blues: India economy won't surpass Japan in 2024, will take 5 years longer

Analysts attribute a sharp plunge in India's GDP in the first and second quarters of FY 20 -- 5 per cent in April-June and 4.5 in July-September quarter -- for a delay in achieving the target.

4. PM Ujjwala Yojana misused? 3.44 lakh beneficiaries refilled 2 to 20 times a day

According to CAG, as on 31 March 2019, OMCs had issued 7.19 crore LPG connections which is approximately 90 per cent of the target of 8 crore connections.

5. Big changes likely in GST rates next week; these items can get expensive

The 5% GST tax slab is the noteworthy one as it includes essential commodities such as food items, footwear and basic clothing. The GST council is expected to increase the tax rate under this slab to 6-8%.

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