Modi flags off metro train, auto firms’ EV plans, and more

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Modi, Aditya Birla

‘Modi flags off the metro train, auto firms’ EV plans, and more’:

Aditya Birla, Piramal-Bain, Shree make aggressive bids for Binani Cement
India’s top cement majors, including UltraTech Cement of the Aditya Birla Group and Shree Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 percent subsidiary of BSE-listed Binani Industries. Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases.
Use public transport, save fuel costs: Modi after inaugurating Magenta Line

Prime Minister Narendra Modi on Monday made a strong pitch for the use of public transport to save fuel and costs associated with the import of petroleum. He also said traveling on a Metro train should be a “prestige issue”.

Also Read: Direct Tax Collections Surge 14% In April-November 2017

Modi was addressing a public meeting in this suburban town in Uttar Pradesh, bordering New Delhi, after launching a 12-km stretch of Delhi Metro’s newly built Magenta Line.
Adiya Birla, Modi
Truckmakers shower bounty on transporters
India’s top cement majors, including UltraTech Cement of the Aditya Birla Group and Shree Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 percent subsidiary of BSE-listed Binani Industries. Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases. Modi flags off the metro train, auto firms’ EV plans, and more.
Revenue concerns may push back further GST cuts
With revenue concerns surfacing, a reduction in goods and services tax (GST) rates for consumer durables in the 28 percent slab may take longer than expected.
With almost three months to go for the fiscal year to end, pruning the 28 percent slab again may not happen at the next GST Council meeting in January. The reduction in rates for more than 200 items in the November meeting had raised expectations that white goods would be taken out of the 28 percent slab.
Year End Specials: Automobile makers get electric shock in 2017
If 2016 was a year of bans, restrictions, and regulatory challenges for the Indian automobile industry, the current year has been no less ‘exciting’. Early in the year, when the industry had just started to recover from demonetization, Piyush Goyal, then minister for power, said the government was assessing the possibility of having an all-electric vehicle market by 2030.

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