December 2 Page 8

December 2 Page 8

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08
State revenue loss caused by GST roll out will be compensated for five years: Nirmala Sitharaman
THE DAILY EPISODE
Thursday, December 2, 2021
New Delhi
Market
Nikkei edging closer to 17,200 mark with 600-point surge on Sensex
Shiksha Dev | The Den

On Wednesday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) opened more than 1% higher led by information technology (IT), banking and financial stocks.

S&P BSE Sensex rose 612.66 points to 57,677.53, while Nifty 50 surged 207.80 points to 17,191.00.

Early deals on the Sensex were led by Infosys, Reliance Industries, ICICI Bank, and Tata Consultancy Services.

RCAP administrator assistance panel

The Daily Episode Network
For Reliance Capital Ltd, which entered into the insolvency process on Monday, the Reserve Bank of India has constituted a three-member advisory committee. The Advisory Committee includes Sanjeev Nautiyal, former director general of the State Bank of India, Srinivasan Varadarajan, former director general of Axis Bank, and Praveen P Kadle.

With consumption and farm growth, economy grows 8.4% in second quarter

The Daily Episode Network
India's economy recorded a healthy growth rate of 8.4 percent in July-September of its financial year 2021-22, aided by an uptick in agriculture, public administration, and defense services, and primarily driven by a low base. RBI had forecast 7.9 percent growth in Q2 this year.

Opening day for Tega Industries
The Daily Episode Network
Today, December 1, 2021, Tega Industries opened its initial public offering (IPO) for subscription at a price band of Rs 443-453 per share. The offer is available through Friday, December 3, 2021.

A Kolkata-based company makes mining consumables. In its wide product portfolio, Tega Industries provides comprehensive solutions for mining, mineral beneficiation, and bulk solids handling industries.

State revenue loss caused by GST roll out will be compensated for five years: Nirmala Sitharaman

The Daily Episode Network
Finance Minister Nirmala Sitharaman said the Centre will compensate states for five years for the revenue loss due to the implementation of the GST.

During the transition period, the states' revenue is protected at 14 per cent per year over base year revenue 2015-16, a state official said, as per the GST Constitutional

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