OPINION, P6 ECONOMY, P2 INTERNATIONAL, P14 UTTAM GUPTA SUNIL JAIN POLLUTION PROBLEM DESPERATE EFFORT Can’t curb urea Govt must spend now; those No overnight solution, Trump leans into fear focusing on deficit must realise diversionwithout this will rise, in relation to the continuous efforts tactics in bid to win price reforms,DBT GDP size, if growth slows needed:Javadekar Midwest states PUNE, MONDAY, OCTOBER 19, 2020 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL. XI NO. 226, 14 PAGES, `6.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD NO CALLYET DISINVESTMENT PATH TO REVIVAL Vodafone Idea in a Plans afoot to raise Strong demand for blue-collar bind as Jio,Bharti workers, full-time jobs on offer `1 lakh crore in FY21 SHUBHRATANDON ment is expected to surpass Mumbai, October 18 January2020levels. delaytariff hikes The good news is that Mop-up to be FY21 disinvestment target, only BUSINESSACTIVITY MAY not nearly80%ofthejobsonoffer `2.1 lakh cr half of this amount may be realised have recovered to pre-pan- are for full-time employment, The top two Vodafone Idea almost half the demiclevelsbut,at0.5million, Pravin Agarwala, co-founder (` crore) April-June Likely strategic sales* 500 326.65 FE 400 318 openings for blue collarwork- and CEO, Betterplace told . operators feel a hike 10,659 target, Centre to Centre’s stake Market value (` cr) 300 ILLUSTRATION: ROHNIT PHORE Revenue BPCL ers in the July-September “The demand during the fes- being sold (%) (as on Oct 16, 2020) 200 at this stage would rely mainly on 100 (BSE, `) periodwerereasonablystrong. sourced from Betterplace, a tiveseasonstemsmainlyfrom Ebitda 4,098 BPCL 0 privatisation of 39,069 May 15, Oct 15 Some of this relates to the technology platform for man- the retail sector so some some help VIL revive itself 52.98 upcoming festive season but a aging the lifecycle of informal of this is for temporary jobs. Net loss -25,467 2020 2020 BPCL, IDBI Bank IDBI Bank 18,995 60 largepartofthisdemandisfor and semi-formal workforce, But demand for full-time jobs RISHI RAJ Total AGR 47.1 20.25 33.6 58,250 40 permanent jobs. shows nine million interviews is expected to sustain post the New Delhi, October 18 dues ConCor Experts say it’s likely 2020 have been targeted. The festive season,”Agarwala said. AGR dues 6,957 20 IDBI Bank PRASANTA SAHU 30.8 (BSE, `) could end with 1.4 million demand in segments such as paid 8,000 0 WITH RELIANCE JIO and New Delhi, October 18 Shipping Corp. 1,547 May 15, Oct 15 vacancies being filled. Data delivery and healthcare seg- Continued on Page 2 BhartiAirtelplayingthewaiting Outstanding 50,250 63.75 2020 2020 AGR dues BEML game and being in no hurry to DESPITETHE MARKETcondi- 1,353 500 378.2 357.35 raise tariffs,Vodafone Idea has tions not being conducive,the 54.03 400 Gross `1.18 300 COVID-19 beencaught in a bind.While Jio Centre will strive to garner at *No revenue from Air India privatisation, only the Centre’s ConCor debt debt liability will reduce; Centre’s stakes in BPCL and 200 lakh cr (BSE, `) and Bharti can afford to delay least `1 lakh crore from disin- Concor were worth `60,000 crore and `11,000 crore 100 0 taking a decision on hiking tar- vestment this year. Yet, this respectively in November 2019; stake sales are expected May 15, Oct 15 Festivals are super spreaders iffs, the same cannot be said court. represents a big slippage from at a premium to current market prices 2020 2020 about Vodafone Idea. While Thelasttimethethreeoper- theall-timehighBudgettarget ISHAAN GERA assembleinlargenumbersdur- companiesarenotcommenting ators had raised tariffs byup to of `2.1 lakh crore. been factored in. Friday’s closing price. The New Delhi, October 18 ing the festival season. An FE Kerala sees big on their strategy and timing of 50%wasinDecember,2019. Strategic sales in fuel While bulk of the shortfall process is on despite the BPCL analysis of infections during surge in infections announcing a hike in tariffs, "We do not think Vodafone retailer-refiner BPCL, Con- willbeduetoalikelydeferment stocklosing35%invaluefrom WHILE FESTIVITIES ACROSS GaneshChaturthiinMaharash- analysts have noted that any Idea (VIL) can raise enough risk tainer Corporation (ConCor) of the mega IPO of Life Insur- about`60,000croreinNovem- thecountryhavebeensubdued, traandMumbaishowsfestivals KERALA WAS consid- delay on the part of Vodafone capitaltosurvivewithoutaprice and IDBI Bankwould be com- anceCorporation(a10%stake ber 2019,around the time the the government is justified in canbesuperspreaders. ered a model state in Idea is going to cost the com- hike for too long.The viability pleted in the year,an official salecouldhavefetchedaround stake sale proposal was tellingpeopletomaintainsocial terms of managing the panydearly. challenge facingVILis real and source said. `80,000 crore), the Air India approvedbytheUnionCabinet. distancingandaskingthemnot Continued on Page 2 coronavirus but last Telecom operators were massive.A moratorium here,a Recently,while the Centre privatisation won’t yield any However, the actual week it became the hoping that theTelecom Regu- deferral there, a small cash has announced its decision to revenue to the Centre. While receipts will depend on valua- Maha celebrations, maha infections eighth state in India to latoryAuthority of India (Trai) inflowfrom Indus stake sale to not alter the enhanced bor- the government hasn’t offi- tion and consideration of a Case additions Daily growth in cases (%, compounded cross three lakh infec- will come outwith a regulation Bharti Infratel, some inflows rowinglimitof`12lakhcrore ciallyputofftheLIClisting,the premium (ONGC had bought over the fortnight daily growth rate, RHS) tions, reports FE fixing floor price for tariffs from fibermonetisation,resid- when it unveiled the H2 cal- paceofprocessclearlyindicates the Centre’s stake in HPCL in 40,000 1.6 Bureau. 1.28 which would take care of the ual contracted cash inflow of a endar,economicaffairssecre- thereceiptswon’tcomeinearly FY18 at a premium of 14% to 28,578 Onlytwo months ago,it hikes.However,withchancesof billiondollarfromVodafonePlc tary Tarun Bajaj said it fac- enough to be budgeted for the the stock’s price).The Centre 30,000 1.2 had one of the lowest 1.01 suchamovefadingwithtime – pertaining to regulatoryliabili- tored in potential stimulus currentyear. recently extended the expres- 20,000 0.8 infection rates in the with a new chairman taking ties,etc do not change the big requirement and lower-than- Withhalfoftheyearalready sion of interest submission 15,777 country but now it charge onlyearlier this month, picture,” Kotak Institutional expected disinvestment rev- over,theCentreisnowmakinga deadline from potential bid- 10,000 0.4 ranks third in terms of FE ifatallsuchamovematerialises, Equitieswroteinarecentreport. enues. has learnt that a determined effort to sell its ders forBPCLto November16. 0 0 daily case infections. itwouldtakequitealongtime– slippage of over `1 lakh crore 52.98% stake in BPCL,which 23 5 18 3 17 30 13 ■ Page 2 theballisbackintheoperators' Continued on Page 2 in disinvestment revenue has wasworth`39,069croreatlast Continued on Page 2 July Aug Sept Oct ● EXCISE/CESS SPECIALS Centre to rake in 90% more FE from auto fuels in FY21 ANUPAM CHATTERJEE Boon in difficult times New Delhi, October 18 Tax revenue from petrol & diesel (post-devolution) BOTHTHE CENTRE andstates (` lakh crore) Change (y-o-y) are facing unprecedented tax Centre States 93% 10% revenue deficits this year, but 4.0 petrol and diesel will still be a 3.0 cashcowforthem.TheCentre’s 2.0 3.8 tax revenue from the two auto 1.0 2.2 2.0 fuels, post-transfers to the 1.97 0.0 states,could be `3.8 lakh crore FY20 FY21(E) FY20 FY21(E) ■ BRANDWAGON, P10 in FY21,up a whopping 90%, accordingtoanFEestimate.The for the year (annual sales are Kia Motors’hinterland drive states could also find their tax seendownby11%byCrisil)and The automaker is making inroads into tier IV towns, revenuefromthefuelsrisingin the sharp increase in tax rates but its low brand awareness could come in the way theyear– an estimated 10% is (mainlybyCentre)comparedto stilladecentgrowthinthepan- theratesprevailedinFY20. ■ demic year.The estimates are eFE, P8 basedonlatestsalesprojections Continued on Page 2 AI is reinventing business models Al can deliver solutions fast but actual decision still ● START OF SEASON belongs to humans, says Genpact’s Sanjay Srivastava Most summer crops being ■ PERSONAL FINANCE, P9 Keep it simple: Saral Jeevan Bima sold below support prices Saral Jeevan Bima will be offered by all insurers as a standard PRABHUDATTAMISHRA individual term life insurance policy but the price may vary New Delhi, October 18 ■ INFRASTRUCTURE, P11 MANDI PRICES OF seven among the 10 key summer- Hydrogen gains traction for storage sown crops are ruling below With expensive batteries a hurdle in adoption of green energy, their minimum support prices the use of hydrogen technology promises a viable alternative (MSPs),indicatingthatprocure- ment by the designated agen- abean at prices 8-38% below ■ SCIENCE & TECH, P12 cies hasn’t yet gathered their MSPs during October 1- momentum.Kharif harvesting 15.Onlyarharanduradarecost- Digitally ready seasonstartedafortnightago. lier to wholesalers than their An analysis of prices by FE MSPs,whiletherateforpaddyis Start-ups need to factor in the cost of cybersecurity, showedthatfarmerssoldseven closertotheMSP. "all is well" approach will