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Biz EOD: Jio's race for 5G; GDP to shrink 7.8% in FY21; will Ajay Piramal be fourth time lucky?

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twitter-logoBusinessToday.In | December 17, 2020 | Updated 22:56 IST
Biz EOD: Jio's race for 5G; GDP to shrink 7.8% in FY21; will Ajay Piramal be fourth time lucky?
Top stories from the world of business and economy

It's believed that Wednesday's spectrum auctions are not for 5G, unless Reliance Jio decides to buy 700 MHz spectrum to launch 5G services next year. India's economy would shrink 7.8 per cent in the current financial year and just 1 per cent in third quarter of FY21, ICRA in its latest report said. Billionaire Ajay Piramal is once again at a striking distance to clinch a deal in the financial services industry. Read for more top stories from the world of business and economy:

1. Race for 5G: Will Jio bid for 700 MHz or give it another miss?

While Jio has reportedly asked Department of Telecommunications to auction 700 MHz spectrum recently; it asked DoT to auction 700 MHz in 2015 as well but didn't buy anything in 2016 auctions.

2. DHFL bid: Will billionaire Ajay Piramal be fourth time lucky?

In the past, Piramal's big strategic moves like Shriram Group stake and merger proposal with IL& FS and IDFC Bank didn't reach logical conclusion.

3. GDP to shrink 7.8% in FY21; recession to end in Q4, says ICRA

ICRA says with a steady performance of agricultural sector and a lagged recovery in contact-intensive parts of services sector, it estimates a small contraction of 1 per cent in GDP in Q3.

4. 'Farmers have right to protest but can't block a city,' says Supreme Court

Farmers' protest: The independent committee can have P Sainath, Bhartiya Kisan Union and others as members. You cannot instigate violence and cannot block a city like this, said CJI Bobde.

5. Stubble burning cases surge 44% in Punjab, plummet 25% in Haryana

Stubble burning cases have surged in Punjab by over 44 percent while they are down 25 percent in neighbouring Haryana from last year, said a report submitted to the Supreme Court by the Centre.

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