Top headlines: Digital tax proposal may end up in court, Ruia's faith

Foreign players in a fix as they will now come under levy's ambit
Budget 2021-22 proposal on digital tax likely to land up in court

The central government’s clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. Read more
Pawan Ruia's Air India bid is another example of faith in his own abilities

The move, even by his standards, seems bold. Especially, when his companies - Jessop & Co, Dunlop - that earned him the moniker "turnaround tycoon", are facing liquidation. Read more
Cap on airline capacity extended till March, but fares may rise up to 30%

The government has increased the upper and lower cap on airfare by up to 30 per cent in a move that’s expected to push up tariffs and improve the financials of airlines hit hard by the pandemic. However, the cap on airline capacity, currently at 80 per cent of the pre-Covid level, has been extended till March 31. Read more
Unacademy, Dream11 eye IPL 2021 title rights; Vivo may exit sponsorship

The appointment of Bjyu’s as an International Cricket Council (ICC) partner for three years this week has left two players in the ring for the 2021 title sponsorship rights of the Indian Premier League (IPL) – edtech firm Unacademy and IPL 2020 title sponsor Dream11, sources in the know have told Business Standard. Read more
Govt eyes different monetisation models to raise resources for investments

Monetisation and privatisation are the two planks on which the Union government is resting its blueprint for the public sector. Privatisation is a tried and tested option; monetisation is a relatively new experiment. Unlike privatisation, monetisation of assets does not require transfer of ownership to private hands; instead, projects are vested with a trust or a private operator. Read more
FM Sitharaman seeks Parliament nod for Rs 6.3-trillion extra spending

Union Finance Minister Nirmala Sitharaman on Thursday sought Parliament’s approval for an additional Rs 4.12 trillion, one of the highest, in the second supplementary demand for grants of the current fiscal year. Read more
Covid-19 drugs among top-selling brands for pharma players in India

Covid-19 drugs such as remdesivir and favipiravir now feature among the top selling pharma brands in the country. Within months of their launch in 2020, these drugs emerged in the top club, competing with long-selling cardiac, respiratory and other key brands for the pharma companies.

Data shows that cumulative sales of remdesivir was Rs 510 crore in January 2021, while for favipiravir it was Rs 471 crore. Read more
CAA to be implemented after Covid-19 vaccination, says Amit Shah

Union Home Minister Amit Shah on Thursday said the process of granting Indian citizenship to refugees under the CAA, including to the Matua community of West Bengal, will begin once the process of Covid-19 vaccination has ended. Read more

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