Economy

Anil Ambani had to sell the Reliance Energy. Adani Group has bought Reliance Energy's Mumbai business for Rs 18,800 crore. Reliance Energy, which is under Reliance Infrastructure, is active in the electricity generation, transmission and distribution sector. Along with the acquisition, Adani Transmission will now see its functioning. Adani has made this purchase agreement under the cash deal.

Reliance Energy has about 3 million subscribers in Mumbai, which will be billed in the name of Adani in the coming days. In recent times, it is being said to be the largest acquisition in the power sector.

According to the Times of India report, Reliance Infra and Adani Transmission signed the SPA (share purchase agreement) on Thursday. After getting statutory clearance, it will be formalized. Reliance Energy sees power supply in East and West Mumbai. With the purchase agreement, all the consumers will now be in Adani Transmission.

Anil Jalan, Chief Executive Officer of Reliance Infra, has confirmed this. They said that after repaying a loan of Rs 15,000 crore, Rs three thousand crore would be left. He told that Reliance Infra will now be able to focus on construction, infrastructure projects and defense sector.

Anil Jalan said that it would be easier to raise funds from the market due to non-debt. According to him, Reliance Infra has a project worth Rs. 10,000 crores. It is known that this company is India's second largest construction company.

With the purchase of Reliance Energy, Adani Group will now be able to retain its foot in the distribution area after Electricity Generation-Transmission. The company issued a statement saying, "There is a plan to provide electricity round-the-clock in India, in which power distribution is the next Sunrise sector."

In the future, the area with possibilities is called Sunrise Sector. Reliance Infra will get Rs 13,251 crore directly from the sale of Reliance Energy's Mumbai business. With this, the transfer of ownership of the company will fetch another Rs. 550 crores.

The Reserve Bank of India (RBI) had printed a total of 15,78,700 crores of rupees worth of high value till December 8, but out of this Rs. 2,46,300 crores of cash was not released in the market.

State Bank of India (SBI) gave this information on Wednesday. On the basis of the government and RBI data, SBI has given its research paper 'Is the high value of Rs 2,000 rupees kept back?' Said that after the notes ban on last year, the high value notes worth Rs. 2,46,300 crore worth of rupees have not been sent in circulation till December 8 this year.

According to the SBI Ecoflash report, Chief Economic Advisor (CEA) of SBI, Saumya Kanti Ghosh said, "According to information given by the Finance Ministry in the Lok Sabha, the RBI has issued a total of 1695.7 crore notes of 500 rupees and Rs. 365.4 crore notes were print till 8 December. The total value of these notes is 15,787 billion."

According to RBI data, a total of 3,50,100 crore notes of small value were in circulation till March 2017. SBI said, "It means that by December 8, the value of all the high value notes was 13,324 billion rupees. This means that the RBI did not send high-value notes worth 2,463 billion to the market."

"The logical reason for this is that after the notes ban, people were having difficulty in disguising the high value notes, so it is possible that the RBI intentionally stopped printing of notes of Rs 2,000 and started to print small notes and did not send high value notes in circulation."

The Government is in favour of bringing petroleum products under the ambit of the Goods and Services Tax (GST) and is awaiting a consensus among the states over the issue.

Replying to supplementaries during the question hour in the Rajya Sabha, Finance Minister Arun Jaitley said, the Centre has already reduced excise duty on petroleum products. He said it has written to all the states to decrease state duties on these products.

Parliament has passed the Companies (Amendment) Bill, 2017 with the Rajya Sabha adopting it on Tuesday. The Lok Sabha had passed it earlier in the monsoon session.

The bill seeks to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doing business.

Replying to issues raised by the members during a discussion on the bill in the Rajya Sabha, Minister of State for Corporate Affairs P P Chaudhary said the amendment would ensure better corporate governance and improve the ease of doing business in the country.

The minister dismissed the apprehensions raised by members that the government was not doing enough to ensure that companies comply with the Corporate Social Responsibility, CSR, provisions. The minister said the government has already issued notices to many companies for not complying with CSR provisions under the Companies Act. On the government’s promptness in taking action against companies at fault, Mr Chaudhary said the government has taken several step against such firms which were not taken in last several years.

He said the government has taken action against over two lakh shell companies and Special Fraud Investigation Office was looking into it.

After the increase in the retail inflation rate in India, news of the increase in the wholesale inflation rate is also coming up.

In October, wholesale inflation rose to 3.59 percent from 2.60 percent in September. In October, the inflation rate of primary articles increased from 0.15 percent to 3.33 percent. On a month-on-month basis, the inflation rate of food items has increased from 1.99 per cent to 3.23 per cent in October.

It is being said that the increase in the prices of fruits, vegetables, chicken, egg, spices, crude petroleum and natural gas has increased. However, prices of gram, tur, lentil, urad and mung have declined.

Diwali festival in India has generally been encouraging for the business and business world, but one of the chiefs of the unorganized sector traders says this picture was changed due to the notes ban and GST on this year.

The organization claims that this Diwali sale has fallen by 40 percent compared to last year and it is considered to be the slowest Diwali of the last ten years.

In a statement issued on Saturday, Confederation of All India Traders (CAT), an organization of retail business, said that there is a retail business of about Rs 40 lakh crore annually in India. In this organized sector's share is only five percent, while the remaining 95 percent contribution is from the unorganized sector.

The festival season, which started ten days before Diwali, has been about Rs 50 thousand crore in the last few years. This year, it fell 40 percent and in this view it has been the worst diwali of the last ten years.

CAT National President BC Bhartia and General Secretary Pravin Khandelwal said that the low attendance of the consumers in the markets, limited spending etc. are the main reasons for this Diwali business being short.

He also said that after the notes ban, the problems of the unstable market and GST system created an atmosphere of suspicion in the market which affected the perception of both consumers and businessmen. Ready-made clothes, gift items, kitchen utensils, electronics, durable consumer products, FMCG goods, watches, bags-trolley, home furnishings, dried fruits, desserts, snacks, furniture, light-bulbs etc. things are mainly purchased during Diwali.

Cat said that the expectations of traders are now on the wedding season.

It is notable that when only two days left in Diwali, at that time even this time silence was in the markets across the country and not only make the festive atmosphere. Purchasing at this time every year was at its upper limit. In the markets, there is a very small drop in subscribers, which has led to a decline of 40% in sales in comparison to last year.

Cat Chairman BC Bhartia and General Secretary Pravin Khandelwal said that there is a shortage of cash in consumers' pockets, due to this there is a recession of the markets.

In the year 2017, the Nobel Prize announced in the field of economics.

Richard H. Thaler has been selected for the Nobel Prize in Economics. Earlier, former RBI governor Raghuram Rajan was also included in the list of probable Nobel prizes.

Significantly, Clarivate Analytics Academic and Scientific Research also creates a list of the potential winners of the Nobel Prize on the basis of their research.

Rajan was one of the six economists whom Clarivate Analytics included in his list this year.

Rajan's name came in the list for the work done in the field of corporate finance. Rajan is a big name in the world of international economy. Rajan, who became the first non-Western IMF Chief in the youngest age (40), got great fame after a paper presentation in 2005.

The Nobel Prize for Economics was announced today (10 October) to economist Richard Thaler. He was given this award for his work on bridge the gap between economics and psychology.

In 1945 he was born in East Orange, USA.

The Judge of the Nobel Prize said in a statement that Thaler's study tells how human characteristics such as limited rationality, social preference and lack of self-control affect a person's decision on a procedural basis, and in turn, It also has the effect.

Practical economics is the study of psychology. It is related to the economic decision-making process of individuals and institutions.

Secretary of Sweden's Academy of Sciences, Göran K. Hansson said that Thaler will be given an amount of 90 lakhs kronor ($ 1.1 million) for his study on 'Understanding the Psychology of Economics'.

The Nobel Committee said, Thaler's work shows how human traits affect the market's results and individual decisions.

The Academy, in its introduction to the Thaler, said that 72-year-old Thaler is the leading economist to study practical economics. This is an area of research, where study of compliance with psychological research is done during the process of financial decision-making. This helps in making a more realistic assessment of thinking and behavior while making financial decisions for individuals.

On the Indian economy, former Finance Minister Yashwant Sinha has once again targeted the Prime Minister Narendra Modi government.

Yashwant Sinha said that you had got a mandate to handle the falling economy and not to blame the previous governments.

Along with this, he said that in the next election, people will judge with your performance and the promises made by you.

Yashwant Sinha said that Prime Minister Narendra Modi says that if we are spreading frustration, why did he decide to take corrective steps?

In a conversation with NDTV.com, Yashwant Sinha said that after my criticism the government has come into action.

He said, "If we are spreading disappointment only then why did the government reduce excise duty on oil and then why is the meeting of the GST Council?"

Yashwant Sinha, while targeting PM Modi, said, "You have not received this mandate to plead on the falling economy of the country and when it is asked about it, to put allegations on the previous government. In the next election, people will judge on based on your performance and the promises made by you."

Yashwant Sinha also targeted BJP national president Amit Shah. He says that Amit Shah has an unnecessary role in deciding economic policies.

He said, "When there is a Cabinet Committee on Political and Economic Affairs, many other ministers are part, but none of them were called. Now the question arises that the party president can be involved in running the government directly or taking important decisions."

He said in the context of the decision to leave for Kerala tour to meet Prime Minister Narendra Modi and Finance Minister Arun Jaitley in Delhi.

Tell you, Yashwant Sinha wrote an article in the Indian Express newspaper and criticized the economic policies of the Narendra Modi government. He said that this government has ruined the country's economy.

At the same time, Yashwant Sinha had questioned through this article even on the Notes ban. After this, Prime Minister Narendra Modi had defended his government saying that some people spread despair only.

The Indian economy is currently undergoing dense fog. Credit Suisse has said this.

Credit Suisse India Equity Strategist Nilkant Mishra told reporters today that due to various structural reforms including GST, there has been a situation of intense uncertainty over the near future, financial health, inflation, currency and banking system.

Neelkanth Mishra said that due to uncertainty over the macro economic front, the Indian economy is passing through a dense fog. This will affect the investment, which will bring down the growth, the GDP will also decrease, and the projections for the next financial year will also be affected.

Mishra said that there has been a lot of structural changes in the Indian economy, such as the number of lakhs of workers lost their jobs in the agricultural sector, GST has been implemented, Real Estate Regulation and Development Law and Bankruptcy Code have been implemented. These are breaking the vicious circle in which the economy was stuck.

The company of the financial services sector concluded that the government spending increase is rapidly declining, while the income growth of half the population is very weak.

He said, "Despite the good monsoon and activities in the agricultural sector increased in 2016-17, due to the softening of the prices of food grains, the gross value of area production has been weakening."

When asked about the reduction in interest rates by the Reserve Bank, Mishra said that the economy is in a time of uncertainty and there will be no cut in interest rates for the next three-four months. We will see meaningful cuts in interest rates in the next nine to 12 months.

The Delhi High Court has also given a blow to Ramdev. Delhi High Court has ordered Ramdev's Patanjali Ayurveda not to show soap advertisement on TV.

This order of Delhi High Court came after hearing petitions filed by Dettol maker Reckitt Benckiser. It has been said in the petition that the advertisement of Patanjali Ayurveda of Ramdev's company is spoiling the image of the Dettol brand.

This is the second time when the High Court has prevented Patanjali from showing soap advertising. Before the Reckitt Benckiser Hindustan Unilever Limited has also stopped the advertisement of Patanjali. Then the Bombay High Court banned it.

Reckitt Benckiser has said in the petition that the soap shown in Patanjali's ad is similar to the Dettol soap in shape, size and color. Apart from this, Dettol has been described as Dhittol in Patanjali's ad.

According to Reckitt Benckiser's lawyer, the High Court has put an interim ban on Patanjali's soap. Patanjali, as an advocate, initially uploaded the advertisement on YouTube, later started commercial ad on TV. He said that when we sent an email to Patanjali, no reply came.

The dispute began with the advertisements of Patanjali which did not take the names of Soap Brands Lux, Pears, Lifebuoy and Dove from Hindustan Unilever Limited directly, and indirect ways consumers were told that the use of 'Chemical Based Soaps' was do not being used. And replace them with natural soap.

This advertisement of Patanjali Ayurveda was being broadcast on TV from 2 September. Apart from telling Dhittol to Dettol in the advertisement, Pears of HUL was being told as Tier's, Lifebuoy was Lifejoy. Lux was targeted. In an indirect attack on HUL's brand Lux, the punch line of Patanjali's ad was 'Do not use filmstars' chemicals filled soap'.