New Delhi

Onus of pulses procurement may go to states

The government is planning to shift the responsibility of procuring and distributing pulses to states while the Centre will play a supervisory role in the functioning of Rs 11,000 crore price stabilisation fund (PSF).
Since the fund is huge and the procurement has to be completed within a specified period, states will do a better job if they are provided the necessary policy support and funds, sources in the consumer affairs ministry said.

Kumaraswamy swearing-in or joint Oppn meet for 2019?

More than a dozen opposition leaders will be attending the oath ceremony of HD Kumaraswamy, who takes over as the Karnataka chief minister on Wednesday, pending a floor test. The mega gathering is seen as a show of strength by the opposition, which is yet to put forth a cohesive effort to stitch up a united front to take on the BJP in next year’s general elections.

On Wednesday Kumaraswamy will take oath along with his deputy, Congress’ G Parameshwara. There was no word on whether Kumaraswamy would have a second deputy.

‘Prayers’ for 2019 polls: Govt, Oppn fight over Delhi Archbishop’s letter

A letter (see pic) written by the archbishop of Delhi, Anil Couto, asking all parish priests and religious institutions of the Capital archdiocese to organise special prayers ahead of the 2019 general elections has stirred up a controversy with several BJP leaders and ministers in the Modi government taking exception to its claim that a “turbulent political atmosphere” in the country posed a threat to India’s constitutional principles and secular fabric. Couto had written the letter a few days before the May 12 Karnataka elections.

NSE moves court, but SGX says it will list Indian equity derivatives

Singapore Exchange (SGX) on Tuesday said it will list new India equity derivatives products in June despite NSE dragging the overseas bourse to court for an interim injunction on the new products.

The leading Indian bourse is making an effort to stop SGX from launching derivatives which could replace its Nifty 50 index.

"SGX has been notified by the National Stock Exchange of India (NSE) of an application made in the Bombay High Court for an interim injunction on our new products," the overseas exchange said in a statement.

Uptrend in mid-cap being challenged

After four years of dream run, mid-cap stocks seem to be heading towards a bearish phase, having retraced more than 14 per cent and broken down key support levels.

The small-cap stocks have already stepped into the bear zone, having retraced more than 20 per cent from their mid-January high. A 20 per cent drop in an index or stocks from a recent high is considered a bear market phase.

The mid-cap and small-cap indices are down roughly 9 per cent and 8.5 per cent in May alone.

CCI okays $66 billion Bayer-Monsanto deal

Fair trade regulator CCI has approved the German giant Bayer's proposed $66 billion acquisition of US-based biotech firm Monsanto, subject to certain modifications to the long-pending deal.

According to regulatory officials, the transaction will need to be modified by way of divestitures and behavioural remedies as required by the Competition Commission of India (CCI).

No penal charges for cancellation of air tickets proposed

In a comforting piece of news for air passengers, the government on Tuesday proposed abolishing cancellation charges for domestic flight tickets if the cancellation is made within 24 hours of booking. However, the proposed rule won’t apply if the tickets are booked less than 96 hours (four days) before the scheduled departure time of the flight.

FY18 fiscal deficit may come down to 3.4%

Fiscal deficit for 2017-18 is is seen at 3.4 per cent of the GDP,  lower than the revised estimate of 3.5 per cent  adequately supported by surge in direct taxes and cut in revenue expenditure.

Outcome of Fortis EGM awaited

An extraordinary general meeting of the shareholders of cash-strapped Fortis Healthcare was held at the Air force Auditorium on Tuesday morning to vote on a call for removal of four directors given by two institutional investors.

Centre brainstorms on oil pricing

Faced with strong public anger over relentless hikes in petrol and diesel prices, the government is drawing an action plan – albeit late – to resolve the vexed issue on hand. Relief to consumers, however, is still some miles away.