Sensex and Nifty extended gains for the second straight session today amid a report that the government was reviewing tax structures for market transactions. Reliance Jio Infocomm has written to the COAI slamming its letter to the government concerning the AGR verdict fallout. Despite ongoing economic slowdown, India's employment figures have remained steady during recent months. Read for more top stories from the world of business and economy:
1. What has propelled Sensex to 40,000 amid a slowing economy
Sensex and Nifty extended gains for the second straight session today on prospects of the government reviewing existing structure of Long Term Capital Gains (LTCG) tax, Securities Transaction Tax (STT) and Dividend Distribution Tax (DTT). Sensex and Nifty have risen 1,080 points and 300 points in the last four sessions.
2. 'Airtel, Voda Idea shedding crocodile tears': Reliance Jio in letter slamming COAI
Reliance Jio, that is part of the COAI along with Vodafone Idea and Airtel, has said that the Mukesh Ambani-helmed telecom operator was not consulted before the organisation shot the letter to the telecom minister alerting him of the "unprecedented crisis in the telecom industry".
3. Job growth improves in May-August; low-skilled jobs dominate: CMIE
Despite ongoing economic slowdown, India's employment figures have remained steady during recent months. Employment in India increased by 25 lakh from May to September 2019, according to a Centre for Monitoring Indian Economy (CMIE) survey.
4. Nirav Modi plays health card, seeks bail citing anxiety, depression
Playing the health card to get out of jail, fugitive diamond merchant Nirav Modi has filed another bail application citing "anxiety" and "depression". He has requested the authorities to keep him under house arrest as he is facing health issues.
5. Congress to hold 10-day protest against Modi govt over economic slowdown
The Congress will hold nationwide protests against the Narendra Modi government over economic slowdown in the country from November 5 to November 15. "The party will raise issues surrounding the Regional Comprehensive Economic Partnership (RCEP), current economic crisis, mounting unemployment, spiralling price rise, bank frauds, job losses in public and private sectors, and farm distress," Congress General Secretary KC Venugopal said in a statement.