Top Headlines: Debate on RBI rate hike, Zomato biz structure change & more

The revenue department is working on a mechanism to analyse futures and options (F&O) trade data and pre-initial public offering (IPO) transactions. On the other hand, Zomato is on an internal rebranding exercise by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal. Read more on these in our top headlines. 

To achieve positive real rate, MPC needs to take repo rate closer to 6%

A rate hike in the upcoming Monetary Policy Committee (MPC) meeting on August 3-5 is a broad-based view. The debate is on the size of a likely rate hike and the MPC’s tone amid latest developments since the June MPC meeting. Will the recent correction in global commodity prices and softer economic activity data in the western world lead to a smaller rate hike? Read more

Revenue dept working on a mechanism to plug capital gains tax leakage

Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F&O) trade data and pre-initial public offering (IPO) transactions. At present, the department receives huge amounts of data on such trades from multiple sources, including stock exchanges and depositories, an official said. Read more

Zomato's growing appetite: Moves to multiple-CEO structure for biz

Zomato is on an internal rebranding exercise by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal. In an internal message to employees, Founder and CEO Deepinder Goyal said the company is at a stage where it has matured from running a single business to running multiple and large companies. Read more

No question of recession or stagflation in India, says FM Sitharaman

India is nowhere near a recession or stagflation and the government is making all efforts to bring down retail inflation below 7 per cent, Finance Minister Nirmala Sitharaman said on Monday.Replying to a debate on price rise in the Lok Sabha on the demand of opposition parties, Sitharaman said the government has taken several measures to make raw material prices cheaper and reduce inflation of food items. Read more

Centre may lower import duty on wheat to combat sharply rising prices

The government could lower import duty on wheat as part of measures to combat the sharply rising prices of the commodity over the past few weeks, say trade and market players. Though there is no official confirmation on this, market participants expect measures to ensure there is no flare-up in flour rates in the festival season, which starts this month. Read more

5G spectrum auction: Jio top bidder with Rs 88,078-cr bid, says govt

India's biggest ever auction of telecom spectrum received a record Rs 1.5 trillion of bids, with Mukesh Ambani's Jio cornering nearly half of all the airwaves sold with an Rs 88,078 crore bid. Richest Indian Gautam Adani's group, whose entry in the auction was billed by some as another flash point in the rivalry with Ambani, paid Rs 212 crore for 400 MHz, or less than one per cent of all spectrum sold. Read more