⚫The fifth round of meeting between protesting farmer groups and the central Govt once again failed to reach any conclusion, with farmers sticking to their stand of a total repeal of the contentious new farm laws, and the Central Govt once again reiterating that all sticking points, including concerns over the minimum support price mechanism, could be addressed.
⚫African nation Angola has invited Indian companies to invest in diamond mining and processing. Angola is the third largest producer of diamonds in Africa and has only explored 40% of the diamond-rich territory within the country, but has had difficulty in attracting foreign investment.
⚫Petrol price on Saturday breached the Rs 83 per litre-mark in Delhi for the first time in more than two years after a rally in international oil prices forced a 13th increase in rates in the last fortnight.
⚫PNB to hold roadshow for the proposed Rs 7,000 crore qualified institutional placement issue next week.The bank has already taken approval from the board for raising Rs 14,000 crore by way of Tier II, Additional Tier 1 (AT-1) bonds and QIP.
⚫PM will lay the foundation stone on December 10 for a new Parliament building and the construction is expected to be completed by 2022 at an estimated cost of Rs 971 crore.
⚫India's economic growth is likely to reach pre COVID-19 levels by the end of the 2021-22 as the GDP contraction in this f/y is expected to be less than 8%, Niti Aayog vice chairman said on Sunday.The RBI has also revised its forecast of economic growth for the 2020-21 to (-)7.5% as against its earlier forecast of (-)9.5%.
⚫Overseas investors remained net buyers to the tune of Rs 17818 crore in Indian markets in first four trading sessions of Dec amidst better than expected economic recovery around the world and positive sentiment on the back of various vaccine results.Continuing their selling spree for the sixth straight month, mutual funds pulled out Rs 30760 crore from equities in Nov on profit booking and experts believe the outflow trend will continue unless there is correction in markets.
⚫The NCLAT has stayed the order directing Arcelor Mittal to pay Rs 1,300 crore as corporate insolvency resolution process cost to Odisha Slurry Pipeline Infrastructure for using its assets.
⚫Entities filing declaration under the direct tax dispute resolution scheme 'Vivad Se Vishwas' can revise them till the time tax authorities issue certificate mentioning details of tax arrear and the amount payable, the I-tax Dept said. Issuing a set of FAQs on 'Vivad Se Vishwas' scheme, CBDT also said the scheme cannot be availed in a case where proceedings are pending before Income Tax Settlement Commission or where writ has been filed against the order of ITSC.
⚫Auto fuel prices are on the upswing in the country with the pump price of petrol set to breach all-time high levels next week. The OMCs on Sunday increased the retail price of petrol by 28p/litre & diesel price also increased by 29p/litre.
⚫PM asserted that reforms are needed for development, and said some laws of the past century have become a "burden" in the current times.
⚫The Centre has asked all states and Union Territories to tighten security during Tuesday's 'Bharat Bandh' called by the farmers unions and supported by opposition parties, while asserting that peace and tranquillity must be maintained on that day.
⚫More than 380 stocks were locked in their respective upper circuit on the BSE after strong rally in smallcap stocks on Monday.
⚫With three weeks to go before the Vivad Se Vishwas direct tax dispute resolution scheme window closes, Finance Secretary & the CBDT Chairman pulled up tax officers for the dismal declarations. It was argued that the declarations were 'not even 10% of the potential level, while the final payments made after the declarations remained dismal.
⚫Jewellery exporters have sought equalisation levy exemption from the finance ministry as new changes to the I-Tax Act have impacted the procurement of rough diamonds through online auctions.The procurement from global miners and traders through the e-auction process attracts additional 2% equalisation levy.
⚫After Pfizer and Serum Institute of India, now Hyderabad based Bharat Biotech has applied for emergency use authorisation for their investigational vaccine candidate Covaxin to the Indian regulator.
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