New Delhi: Consumers are of the view that they are benefitting from the Goods and Services Tax (GST) rate cuts now more than before as businesses and traders increasingly lower prices to the extent of the reduced tax rates, an online survey of 16,000 people has found.

The survey held by online community of consumers Local Circles has shown a steady improvement in customer experience between June 2018 and April 2019 on getting the benefit of tax cuts intended for them.

Since the Rs 29,464-crore Air India working-capital debt taken over by it is backed by a sovereign guarantee, the Centre’s special purpose vehicle Air India Assets Holding (AIAHL) is set to ask banks to cut interest rate on bulk of the loan to about 8.5% from 10.5-11% now.

The shifting of this debt to AIAHAL from the carrier was one of the steps taken to make the airline attractive to potential buyers.

The Solar Energy Corporation of India (SECI) has extended the deadline for receiving bids for the government’s manufacturing-linked solar scheme to May 14. This is the third time the SECI has extended the date – original deadline was March 18, 2019. The scheme seeks to set up 3 gigawatt (GW) of solar plants against 1.5 GW of manufacturing units.

Infosys Technologies co-founder and chairman Nandan Nilekani on Monday said India’s digital infrastructure will play a major role in reviving its economy.

Nilekani was addressing members of the Federation of Indian Chambers of Commerce and Industry (Ficci) at the national executive committee meeting on ‘Digital India and its Impact on Economy and Industry’ held in Bengaluru.

Maruti Suzuki has increased the price of its compact hatchback Baleno in the range of `13,000-20,000, after updating the vehicle with a BS-VI compliant petrol engine.

Volumes of Baleno grew 11% in 2018-19 and has a market share of over 27% in the compact hatchback segment, comprising vehicles like Hyundai i20, Volkswagen Polo and Ford Figo.

Indian markets posted their worst single-day fall in 2019 as rising oil prices hurt investor sentiment and dampened economic outlook. Brent futures rose as much as 3 per cent to $74.3 a barrel, the most since November 1, before easing off slightly, as the United States appeared to end all waivers issued to eight economies, including India, allowing them to buy Iranian oil without facing sanctions.

Air India Express, the international budget arm of Air India, is examining the possibility of leasing some Boeing 737 aircraft of grounded carrier Jet Airways, which are parked at different airports due to non-payment, through a firm decision is yet to be taken, a top company official said Sunday.

Before halting operations temporarily mid-last week due to severe cash-drought, the private carrier was forced to ground 69 planes owing to non-payment of rentals to lessors.

South Korean auto major Hyundai is looking at various options for sourcing electric vehicle (EV) components in India, including local manufacturing of battery parts, a top company official said.

The automaker, which is present in India through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), said it is also looking for further clarity in Government policy to drive in hybrid models in the country.

India’s HDFC Bank Ltd reported a record quarterly net profit of 58.85 billion rupees (USD 848 million) on Saturday, meeting market expectations as the country’s biggest lender by market value raked in higher interest and fee income.

The bank also said its board had approved raising up to 500 billion rupees by issuing debt over the next 12 months.

The benchmark BSE Sensex cracked over 300 points in early trade on Monday tracking losses in index heavyweights RIL, HDFC and ICICI Bank, amid weak global cues, sinking rupee and soaring crude oil prices.

The 30-share index was trading 309.56 points or 0.79% lower at 38,830.72. The NSE Nifty too plunged to 101.80 points, or 0.87%, to 11,651.

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