Govt approves SEB debt restructuring: In an effort to boost the ailing power sector, the centre approved restructuring of Rs 1.9 lakh crore debt of State Electricity Boards. According to the scheme, 50 percent of the short-term outstanding liabilities of near-bankrupt discoms will be taken over by state governments.
SC auction rule: The Supreme Court upheld the Presidential Reference as maintainable and clarified that the auction order in the 2G scam was only restricted to telecom spectrum and not all natural resources. The verdict has provided clarity on auctions and has been lauded by the government as well as experts.
Pharma pricing policy: A ministerial panel finalised the pharma pricing policy whereby 348 essential drugs will come under price control of the government. The Group of Ministers (GoM) will be sending their recommendations to the Cabinet within a week for approval.
Rupee gains strength: The rupee on Friday shot up to a five month high of 52.55 to the dollar on fresh selling of the greenbacks by exporters and banks.
Core sector slows: Indicating persistent sluggishness in the economy, output of eight key sectors of the industry including fertilisers, crude oil and cement pulled down the growth rate to 2.1 per cent in August from 3.8 a year ago.
Politics in focus: After the Trinamool Congress' exit from the UPA, key positions in the ministries are lying vacant. A cabinet reshuffle was expected to take place this week but, it will take place only after October 14. The Maharashtra government too is seeing some trouble over the irrigation scam.