A look back at some of our biggest and best stories from this week. In case you missed them, here's a recap:
1) Push for local, population control… decoding PM Modi’s speech on I-Day
Prime Minister Narendra Modi has reimagined the art of political communication. On Thursday, he delivered another master class performance. His Independence Day speech endorsed his role as the ‘unifier-in-chief’ of the country.
2) PM Modi asks Nirmala Sitharaman to streamline ideas to spur job growth, business sentiment
Prime Minister Narendra Modi on Thursday met finance minister Nirmala Sitharaman and took a comprehensive review of the current state of the economy.
3) From oil to telecom to Jio: 10 key highlights from the RIL AGM
India's oil-to-telecom conglomerate Reliance Industries Ltd' annual general meetings are quite akin to the big bang Apple launch events during Steve Jobs’ time. And not unlike Steve Jobs, Mukesh Ambani usually pulls a surprise in his 90-minute plus speech. At RIL's 42nd AGM, Ambani focused on the three core areas that will lead the group's growth in the coming years.
4) Saudi Aramco to buy 20% stake in RIL's oil to chemical business
Mukesh Ambani's Reliance Industries and major oil producer Saudi Aramco have signed a nonbinding letter of intent under which Saudi Aramco will buy a 20 percent stake in RIL's oil-to-chemical business at an enterprise value of $75 billion.
5) India in the process of correcting incorrect business models, says Rakesh Jhunjhunwala
In an exclusive interview with CNBC-TV18, Rakesh Jhunjhunwala said the liquidity crisis in the non-banking financial companies and the current fiscal situation have led to a short-term slowdown. “The markets being in the state that they are, I cannot be happy about it, but we have to accept reality as it is rather than what we would like it to be,” Jhunjhunwala said.
6) Passenger vehicle output down 13.18% in April-July as major auto companies cut production
Passenger vehicles production in India was down 13.18 percent in April-July this fiscal with top manufacturers such as Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Ford, Toyota and Honda reducing output massively.
7) ONGC feels the pinch of higher taxes, cess on domestically produced crude
India’s biggest oil producer, Oil and Natural Gas Corporation (ONGC), says producing every additional barrel of oil has become more difficult, complex and costly in the country and managing costs is vital to securing profitability in the business.
8) Regulatory and taxation changes hurt automobile sales, says Maruti chairman RC Bhargava
A major reason for the current slowdown in the domestic automobile sector is the regulatory and taxation changes which have led to a substantial increase in the price of vehicles for the customer, Chairman of Maruti Suzuki India Limited RC Bhargava stated.
9) Rahul Gandhi declines to take back resignation, Sonia Gandhi appointed interim Congress chief
Sonia Gandhi was appointed as interim president of the Congress at a crucial meeting of the party's working committee after Rahul Gandhi refused pleas by partymen to take back his resignation.
As the economy grapples with slowdown concerns, the government is meeting stakeholders across various sectors and today the finance minister Nirmala Sitharaman will meet market stakeholders.
10) India Inc expresses serious concerns on slowdown