News digest: E-commerce sector, chopper buy, diesel vehicles, and more

Single regulator for in the offing

A regulator for the sector with which all digital businesses will be legally bound to register has been recommended by a task force to the government.

It has also suggested that major e-retailers and social media platforms be made to store the data of users in local servers,apart from a limited easing of foreign direct investment (FDI) rules for certain micro, (MSME). Read more

ministry clears decks for Rs 217 billion chopper buy

The ministry on Monday announced it had approved ‘implementation guidelines for the strategic partnership model’.

The ‘strategic partner’ (SP) model of procurement, which was promulgated in outline in May 2017, provides a policy framework for Indian firms to manufacture specified defence platforms in India based on transferred by a selected foreign vendor.

The SP policy initially aims at building four categories of weaponry — fighters, helicopters, submarines, and armoured vehicles. Read more

hikes long-term deposit rates

On the first day of a three-day meeting of the (MPC), the country’s largest lender, (SBI), moved to hike its long-term deposit rates, albeit marginally.

also slashed its shorter-term bulk deposit rates (Rs 10 million to Rs 100 million) by 25-45 basis points (bps), while increasing the longer-term bulk deposit rates by 5 bps to 60 bps. Read more

vehicles could face their last gasp

When American carmaker launched its new compact utility vehicle Freestyle in India three months ago, it was expecting demand to be equally split between the petrol and the variants.

However, the company was left surprised.

As much as 65 per cent of the domestic bookings came for petrol variants; the demand for stood at just 35 per cent. Read more

Centre staring at revenue shortfall

The Centre’s collections from the (CGST) stood at Rs 504 billion at the end of the first quarter (Q1) of 2018-19. It got an additional Rs 424 billion as settlement from the integrated (IGST)

over the same period.

Assuming that tax collections grow at 10 per cent (quarter-on-quarter, or QoQ), the Centre’s collection is likely to be Rs 517 billion less than the budgeted target of Rs 6,039 billion in an optimistic scenario. Read more

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