Top Headlines: GST compensation to states; battle for 5G networks, and more

The Centre may release about Rs 35,000 crore to states as GST arrears by September-end, Business Standard has learnt, taking the compensation for the year (FY23) to Rs 1.2 trillion. Meanwhile, India may become a $5-trillion economy by 2028-29 only if the GDP grows at nine per cent per annum consistently for the next five years, former RBI Governor D Subbarao said. 

Centre may release Rs 35,000 cr to states as June GST compensation

The Centre may release about Rs 35,000 crore to states as goods and service tax (GST) arrears by September-end, Business Standard has learnt, taking the compensation for the year (FY23) to Rs 1.2 trillion. “We have so far released Rs 85,000 crore in arrears this year and will soon release around Rs 35,000 crore more for June,” a top government official said. Read more
 

5G networks: The next big battle in India's telecom space is about to begin

In its analyst call after the financial results a few days ago, Bharti Airtel CEO Gopal Vittal spent a substantial amount of time clearing the air on what he said were “misconceptions” about 700 MHz, for which Bharti did not bid, and on its decision to opt for a non-standalone (NSA) 5G network. Read more

India's sub-Rs 10,000 phone market may be reserved for domestic players

How dominant are Chinese firms in India’s sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category. Read more

India $5-trn economy by FY29 only if it grows at 9% for 5 yrs: Ex-RBI Guv

India may become a $5-trillion economy by 2028-29 only if the GDP grows at nine per cent per annum consistently for the next five years, former RBI Governor D Subbarao said on Monday. Subbarao said there are eight key challenges for India to overcome to achieve the dream of a 5 trillion economy. Read more

Red-hot market runs into resistance zone; investors may book profits

The Nifty50 Index has ratcheted up gains in seven of the past eight weeks, soaring 2,405 points, or 15.7 per cent, during this period. The benchmark gauge last closed at 17,698. Although the momentum appears durable, the Nifty now heads into a key resistance zone of 17,700-plus levels. This could lead to a pull-back due to profit-taking by traders, observe analysts. Read more