The GRM fell for the straight fifth quarter to $8.8 a barrel; rise of Petchem offsets the refining crisis

With no retrospective relief in sight for startups, which have already received an assessment order, the notification has yet again given rise to a new set of discretionary processes with no certainty.

With this acquisition the Bangalore-based startup expands into a new age demographic of 3-8 year olds.

CLSA predicts the Ambani firm to clock revenues of $137 billion by 2028. Reliance Retail continues to be the largest and fastest growing retailer in India with a reach across over 5,800 towns and cities.

Announced in December, just months before a general election due by May this year, the rules were seen as an attempt by Modi government to appease millions of small traders and shopkeepers.

In the two-page letter seen by Business Today, start-up founders have cautioned the government that if the issue is not resolved immediately, Modi's 'Startup India' movement could be derailed forever.

The decision was made after Centre received representations from start-ups seeking relief from the often ambiguous angel tax.