Business Today


What made news this past fortnight and business events to look forward to.
Team BT | Print Edition: September 27, 2015
Brazilian President Dilma Rousseff
Brazilian President Dilma Rousseff

"India is one-fourth to one-fifth of China's size. Even if we can overtake China in terms of growth rate, the magnitude of the effect will be far smaller for a long time to come" - RBI Governor Raghuram Rajan in an interview to the BBC. World Bank data shows China's GDP is over $10 trillion, compared with India's $2 trillion, and $17 trillion of the US

Rs 9,379 crore: The amount mopped up by the government from the recent Indian Oil share sale, the biggest this fiscal. LIC pumped in an estimated Rs 8,000 crore to pick up IOC shares in the divestment programme. Its stake in the company has gone up to 11.11 per cent from 2.52 per cent earlier

950 million Pounds:
It's a Beautiful Day indeed for Bono whose Facebook shares fetched nearly 1 billion pounds, more than his earnings in a career spanning nearly four decades. In 2009, the U2 frontman picked up 2.3 per cent share in the social media network for 56 million pounds. He edged past Beatles' Sir Paul McCartney (730 million pounds) as the world's richest pop star.

Brazilian President Dilma Rousseff is in the dock for allegedly doctoring government accounts last year to hide the deterioration of the country's finances. She is alleged to have delayed 40 billion reais ($11.50 billion) in social payments to artificially bolster fiscal accounts. If found guilty, she faces impeachment

INDIA'S RANK, in a list of 21 countries,for its financial and digital inclusion efforts, according to the latest Brookings Financial and Digital Inclusion Project Report and Scorecard. The countries received scores and ranking based on 33 indicators spanning four dimensions: country commitment, mobile capacity, regulatory environment and adoption




Skilling India

What: Report on jobs generation
When: Mid-September
What to look for: The NITI Aayog's sub-group of chief ministers on skill development will submit a report to Prime Minister Narendra Modi. The report is likely to suggest ways on improving credit and marketing linkages to improve job generation. There is a big support for overcoming shortage of trainers by involving the industry and national level institutions such as IIT, IIM and universities.

Draft Legislation

What: Goods and Services Tax legislation
When: By September 15
What to look for: The government will ready the draft legislation - central GST law, state GST law and integrate GST law - by September 15, said revenue secretary Shaktikanta Das.

Focus on Small Banks

What: Small bank licences
When: September
What to look for: RBI Governor Raghuram Rajan has said licences for small finance banks would be announced in September. There are 72 applications for small finance banks. These banks, like existing commercial lenders, will take up basic banking activities of accepting deposits and lending to unserved and underserved sections.

All Eyes On Singapore

What: Singapore snap polls
When: September 11
What to look for: Prime Minister Lee Hsien Loong is seeking a new mandate from voters worried over immigration and the high cost of living. Despite a slowing economy, the People's Action Party, which has ruled for more than 50 years, is expected to keep its overwhelming majority in parliament against a fragmented opposition.

Maran's Case

What: Dayanidhi's bail
When: September 14
What to look for: The Supreme Court has stayed the Madras High Court order cancelling former Telecom Minister Dayanidhi Maran's anticipatory bail. The apex court has asked the CBI to respond to Maran's challenge. The next hearing is scheduled for September 14.

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