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OPINION, P6 COMPANIES, P4 INTERNATIONAL, P8 EDITORIAL NARENDRAN-SPEAK FACING THE HEAT Vaccines to lead Covid Comprehensive digital ‘Steel demand to grow Samsung heir faces education strategya fight,but focus on must, govt needs to at rate of GDP growth nine years in jail as therapeutics R&D too partner ed-tech firms or higher in FY22’ bribery trial wraps PUNE, THURSDAY, DECEMBER 31, 2020 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL. XI NO. 286, 24 PAGES, `6.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD SENSEX: 47,746.22 ▲ 133.14 NIFTY: 13,981.95 ▲ 49.35 NIKKEI 225: 27,444.17 ▼ 123.98 HANG SENG: 27,147.11 ▲ 578.62 `/$: 73.30 ▲ 0.12 `/€: 89.91 ▲ 0.04 BRENT: $51.44 ▲ $0.35 GOLD: `49,774 ▼ `80 IN THE NEWS PUNJAB STIR COVID COMBAT POWER PACT Damage to infra: RJio writes to Farmers win in Astra gets UK nod, EU, China seal Punjab CM WITH ITS telecom two of four issues investment deal infrastructure in the state being damaged during awaits India approval PHILIP BLENKINSOP farmers' protest, Reliance No stiff penalties for Brussels, December 30 What's in the deal Jio has written to Punjab stubble burning; no Serum expects ■European ■Requirements chief minister Amarinder change in electricity To be prioritised for The BorisJohnson THE EUROPEAN UNION and firmswill gain that companies Singh seeking his most vulnerable UK government has approval in the ChinaagreedonWednesdayto permission operate as part of intervention for action subsidies; will discuss already bought an investment deal that will to operate jointventures 100 million doses of against those responsible MSP & repeal of laws groups,with shots next few days give European companies in China in with Chinese for the incidents of Govt accedes to two of the theAstraZeneca- greateraccesstoChinesemar- sectors, partnerswill starting Monday Oxfordvaccine "sabotage and vandalism", four demands of farmers: FE BUREAU kets and help redress what including be lifted electric cars, reports PTI. FE BUREAU To keep farmers outside the am- It’s the Thevac- Pune, December 30 Europe sees as unbalanced ■Chinawill ban private New Delhi, December 30 bit of air pollution Ordinance, SUZI RING second cine can economic ties. the forced transfer hospitals, ‘Pvt banks taking meaning no stiff penalties for stu- December 30 corona shot to be deployed CYRUS POONAWALLA, THE The agreement has been oftechnology real estate, THE CHANCES OF a solution bble burning; to continue current be cleared for swiftly because chairmanofSerumInstituteof nearlysevenyears in the mak- from foreign advertising away share from to the prolonged agitation electricity subsidy system for ASTRAZENECAAND the Uni- emergency use it’s easier to India (SII),said on Wednesday ing and is likelyto take at least companies PSBs in rural credit’ by farmers at the border of irrigation,where farmers pay versity of Oxford’s Covid-19 in the UK after transport and 17 million doses of the Covid- another year to enter into the national capital and at highly subsidised rates vaccine won UK clearance, the Pfizer- store than the 19 vaccine were ready to be force. It forms part of a new RURALCREDITgrowth elsewhere appeared bright for marking the first approval BioNTech one Pfizer one shipped out and that the com- relationshipwithChina,which gathered steam in FY20 and the first time on Wednesday, Demands for repeal worldwide for a shot that’s panywasawaitingthegovern- the EU views as both a partner of the three surpassed growth in other withthegovernmentacceding facedquestionsbutwillbekey earlyDecember. ment’s approval. Poonawalla and a systemic rival. contentious laws and categories after a gap of four to two of the four demands legal guarantee for MSPwill be to mass immunisations. The move will help the saidapurchaseagreementwas European firms will gain years, reports in fe Bureau raised byfarmers. discussed in the next round The vaccine will be priori- UK ramp up vaccinations as yet to be signed and that an permissiontooperateinChina Mumbai. Private banks have The government also of talks on January 4 tised for the country’s most a new surge in infections approval was expected in the in sectors including electric begun to gain share in this agreedtodiscusstheothertwo vulnerable groups,with shots strains hospitals. It has next couple of days.SII has an cars, private hospitals, real partnerswill be lifted. segment even as PSBs’ foot- (more important) demands — starting Monday,according to reported record numbers of agreementwithAstraZenecato estate, advertising, the mar- Companies that could print reduces, RBI said in its repeal of the laws and legally an expert committee be the government. cases this week,with a new manufacture and supply the itime industry, telecom cloud benefitincludeDaimler,BMW, trend and progress report. guaranteedminimumsupport formed toweigh the ramifica- It’s the second coronavirus variant of the pathogen rais- Covid-19 vaccine in India and services, airline reservation Peugeot,Allianz and Siemens, prices (MSPs) — at the next tions of a legally mandated injection to be cleared for ing concern globally. lowincomecountries. systemsandgroundhandling. all with a large presence Subscribers can round of talks on January4. MSPsystem. emergency use in the UK Some requirements that in China. The government also is after Pfizer and BioNTech’s in Continued on Page 2 Continued on Page 2 companies operate as part of now exit NPS via learnt to have suggested that Continued on Page 2 joint ventures with Chinese Continued on Page 2 online mode India-UK flights to remain suspended till January 7 PFRDAON Wednesday said In the next round of talks, the Welcome the spirit of Power demand hits all-time high subscribers can now use the remaining issues will be today’s talks, hopeful of PASSENGER FLIGHTS between the UK and country and India from December 23 to online mode also to exit from discussed and I hope there a positive outcome in India would remain suspended till January 7 December 31 as a mutated variant of the PEAK POWER demand of growth in energy demand the National Pension System will be an agreement the next round of and theywill resume in a“strictly regulated” coronaviruswas detected there. the country touched the during the pandemic and (NPS), reports PTI. Under the between government discussions. mannerthereafter,aviationministerHardeep Puri’sannouncementhascomefollowing 1,82,888-mega watt (MW) signalling a spurt in com- current process, the subscri- Singh Puri said onWednesday,reports PTI. arecommendationbytheUnionhealthmin- mark on Wednesday — an mercialandindustrialactiv- and farmer unions. —RAKESH TIKAIT bers have to physically app- The civil aviation ministry had last week istry to extend the suspension of India-UK all-time high — marking the ities, reports fe Bureau in —NARENDRA SINGH TOMAR spokeman, Bharatiya roach points of presence to Kisan Union suspended all flights between the European flights till January7. reversal of the trend of tepid NewDelhi.■ Page 2 complete the exit process. agriculture minister ● Special Feature RBI LIQUIDITY RELIEF Deadlines Keeping us sane: Best gadgets Top-rated firms of the pandemic year for filing Gadgets became get 88% of funds GST,I-T the way to connect with the FE BUREAU India forFY20. world, work and Mumbai, December 30 The TLTROs were aimed at returns stay relevant in a providingsystem-levelliquid- year that saw HIGHLY-RATED FIRMS ityaswell as targeted liquidity extended Covid-19 upset all accountedforamajorityofthe to sectors and entities experi- norms of human funds disbursed to non-bank- encing liquidity constraints FE BUREAU behaviour. Check ing financial companies and restricted market access. New Delhi, December 30 out the (NBFCs) under the central However, the data put out by smartphones, bank’s targeted long-term the central bank suggests that THE GOVERNMENT ON laptops, et al that repooperations(TLTRO).Arat- stronger companies may have Wednesday extended the due emerged winners ing-wise analysis shows that benefitedthemostfromthese dates forvarious tax filings, ■ Gadgets, P9 firms with ‘AAA’ and ‘AA’ rat- operations. includingformakingdeclara- ings accessed 88% of dis- A study of the distribution tion under the direct tax dis- bursements made under the of TLTRO funds reveals that puteresolutionschemeVivad targeted liquidity operations, `76,843 crore was requested Se Vishwas, in view of QuickPicks theReserveBankofIndia(RBI) byNBFCsandhousingfinance the difficulties faced by tax- said in its report on the trend companies (HFCs), four-fifths SHOT IN THE ARM payers due to the Covid-19 and progress of banking in of which has been disbursed. US vice-president-elect Kamala Harris receives a dose of the Moderna Covid-19 pandemic. Cabinet nod: Sops for grain-based NBFCs garnered 60% of the vaccine at United Medical Center in Washington, US Ontheindirecttaxcompli- 1.8BBB Unrated 0.3 total disbursement. ance, the government has ethanol,approval for infra projects “Non-deposit taking extended the date for filing THE CABINET committee on economic affairs A NBFCs, particularly NBFCs- annual returns under GST for (CCEA) on Wednesday cleared an additional 9.9 ND-SI(systemicallyimportant FE BUREAU financialyear2019-20toFeb- interest subsidy of `4,573 crore for setting up non deposit-taking NBFCs), External trade ruary 28 from the previous distilleries that will be free to use for not just AA havebeenmajorbeneficiaries,” deadline of December31. cane but also grains