Top headlines: Windfall tax, India's 5G market, US Fed rates, and more

India to account for about 15% of worldwide market for the 3.5 GHz-based 5G radio and network: Global telecom gear makers

Rs 94,800-cr gains from windfall tax an overestimation: Govt sources

The government would have earned less than Rs 48,000 crore in the nine months of the current fiscal year (2022-23, or FY23) if the windfall tax rates remained constant. It termed the figure of Rs 94,800 crore floating around as an ‘overestimation’, said two senior government officials. Read more

Strong signal: India likely to be among top three global markets for 5G

Global telecom gear makers say that they expect India to account for about 15 per cent of the worldwide market for the 3.5 GHz-based 5G radio and network. The vendors are assuming that the telcos will be able to provide 5G coverage to over 50 per cent of the geographical area of the country in the next two years. Read more

Amended Energy Conservation Bill seeks to build carbon credit market

In line with the climate commitments made by India at the 26th session of the Conference of the Parties, commonly called COP26, the Centre has introduced amendments to its the Energy Conservation Act, 2001, to meet the targets embracing green fuels, industrial energy efficiency, and build the country’s own carbon credit market. Read more

Airtel gears up for 5G roll-out this month; partners with Ericsson, Nokia

Bharti Airtel on Wednesday signed agreements with global telecom equipment majors Ericsson, Nokia, and Samsung to commence the deployment of 5G services across the country this month. The company is likely to start with Delhi, Hyderabad, Bengaluru, and Pune. The launch could coincide with the Independence Day, sources indicated. Read more

US Fed shrinking balance sheet at a much slower pace than planned earlier

The stock market's worst fears of a "too" hawkish monetary stance by the US Federal Reserve has turned out to be unfounded. The American central bank is shrinking its balance sheet at a much slower pace than planned earlier which has kept the liquidity conditions in the market much more benign. Read more