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Biz EOD: Non-BJP states allege GST dues; Redmi Note 7S explodes; Patanjali slows down

BusinessToday.In     November 21, 2019

Five non-BJP ruled states have raised concerns over delay in the payment of outstanding Goods and Services Tax (GST) compensation by the Centre. One of the most reputed and popular smartphone brands, Xiaomi is in the spotlight after one of its smartphone caught fire and the company refused to take the blame. Yoga guru Baba Ramdev-promoted Patanjali Ayurved reported 2.38 per cent growth in revenue at Rs 8,330 crore in the financial year 2018-19. Read for more top stories from the world of business and economy:

1. Five non-BJP ruled states allege delay in payment of GST compensation, seek urgent intervention

The finance ministers of- West Bengal, Kerala, Delhi, Rajasthan and Punjab said that the GST compensation for August and Sept required to be paid by the Centre sometime in October continues to be outstanding till date.

2. GDP growth rate to slow down to 4.7% in Q2: ICRA

ICRA forecasted that there would be a further deterioration in the growth rate of India's GDP and the gross value added (GVA) at basic prices in YoY terms to 4.7 per cent and 4.5 per cent, respectively, in Q2 FY20, from 5 per cent and 4.9 per cent, respectively, in Q1 FY20.

3. What went wrong with Patanjali's fairy-tale growth story?

The company, which had seen a revenue jump of over Rs 10,000 crore between 2011 and 2017 on the back of array of products such as toothpaste, soaps, atta, honey and ghee, suddenly seems to have much less visibility.

4. Reliance Jio may not be pleased with govt's spectrum moratorium to telcos; here's why

Spectrum charges: Reliance Jio had stated that even if the two telecom operators - Vodafone Idea and Airtel - shut down, there would be enough "vibrant competition" including the PSUs.

5. Xiaomi Redmi Note 7S allegedly explodes; company says fire 'customer induced'

When asked about the issue, Xiaomi in a statement said that the damage occurred due to "external force."

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