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Larsen and Toubro on Tuesday reportedly bought 20% stake in IT firm Mindtree in a blockdeal worth ₹3,300 crore. Nearly 3.28 crore shares changed hands and the stake was sold by Cafe Coffee Day's VG Siddhartha who owns 20.32% stake in Mindtree. With this move, the tech and engineering major has completed its first step of a three-part deal to take over the IT firm.

Larsen and Toubro on Tuesday reportedly bought 20% stake in IT firm Mindtree in a blockdeal worth ₹3,300 crore. Nearly 3.28 crore shares changed hands and the stake was sold by Cafe Coffee Day's VG Siddhartha who owns 20.32% stake in Mindtree. With this move, the tech and engineering major has completed its first step of a three-part deal to take over the IT firm.

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Elon Musk's Tesla has reached out in a last resort to PM Modi's office with the hope of getting import tax on EVs cut before starting the India road trip. 

Elon Musk to PM Modi: Please cut import tax on Electric Vehicles

Elon Musk is knocking at PM Modi's office door as a last resort , hoping to get import duty cut for imported Tesla cars. 

Musk to Modi: Please cut import tax on Electric Vehicles

Tesla cars will fall into the bracket of 100% import duty as the cost exceeds $40,000 as per India's current duty structure.&nbsp;

<a href="https://www.editorji.com/business-news/why-has-elon-musk-dumped-california-tesla-hq-moved-to-texas-1633657377338">Elon&nbsp;Musk</a>'s Tesla has reached out in a last resort to PM Narendra&nbsp;Modi's&nbsp;office with the hope of getting import tax on EVs&nbsp;cut before starting the India road trip.&nbsp;
<h3>Knock, Knocking on the PM's door</h3>
Reuters reports that&nbsp;Tesla's officials had a meeting with executives at PM Modi's&nbsp;office reiterating&nbsp;in a closed-door meeting that the import taxes were too high.&nbsp; Quoting unnamed sources the wire news service said that Tesla's urged a cut in dues as the&nbsp;current structure would not make its business in the country a "viable proposition".&nbsp;
<h3>Speed bump at the Road Ministry</h3>
This comes as the same request to the Road Ministry seems to have hit a bump. Union Minister Nitin&nbsp;Gadkari&nbsp;recently stated&nbsp;"I have told Tesla that don't sell electric cars in India which your company has manufactured in China. You should manufacture electric cars in India, and also export cars from India," he said, adding Tesla had been assured of all necessary support from the Indian government.
<h3>Tesla's struggle to enter Indian market</h3>
At present, India levies one of the highest import duties internationally. It imports&nbsp;60% on electric vehicles that cost $40,000 or less, and 100% duty on those priced over $40,000 (which is the category Tesla cars fall into.)&nbsp; Tesla has been lobbying for a reduction of the customs duty to 40% for EVs
Also Read |&nbsp;<a href="https://www.editorji.com/business-news/elon-musk-and-grimes-break-up-technoking-says-he-is-semi-separated-from-partner-1632545697806">Elon Musk and Grimes break up; technoking says he is 'semi-separated' from partner</a>

The Union Cabinet headed by Prime Minister Narendra Modi on Thursday approved a hike in Dearness Allowance and Dearness Relief by 3 per cent for central government employees and pensioners with effect from July 1, 2021.Information and Broadcasting Minister Anurag Thakur made the announcement during a media briefing.
The move comes months after the Centre approved an 11 percentage point hike in DA and DR given to central government employees and pensioners&nbsp;from 17 per cent to 28 per cent. The hike was applicable from July 1, 2021, and benefitted more than 48 lakh central government employees, and 65 lakh pensioners.&nbsp;With the latest revision, the rate of DA and DR stands increased to 31 per cent, the minister said adding that this is set to benefit 47.14 lakh government employees and 68.62 lakh pensioners.
&nbsp;In a press briefing after the Cabinet meeting, Thakur informed that the total cost incurred by the central government will be Rs 9,488.74 crore annually.

Dearness Allowance hiked by 3% for central employees and pensioners

Dearness Allowance hiked by 3% for central employees and pensioners: Here are the complete details.

The Union Cabinet headed by Prime Minister Narendra Modi on Thursday approved a hike in Dearness Allowance and Dearness Relief by 3 per cent for central government employees and pensioners with effect from July 1, 2021.
Thakur&nbsp;SOT
The move comes months after the Centre approved an 11 percentage point hike in DA and DR given to central government employees and pensioners&nbsp;from 17 per cent to 28 per cent.
&nbsp;

The move comes months after the Centre approved an 11 percentage point hike in DA and DR given to central government employees and pensioners&nbsp;from 17 per cent to 28 per cent.

The Union Cabinet headed by Prime Minister Narendra Modi on Thursday approved a hike in Dearness Allowance and Dearness Relief by 3 per cent for central government employees and pensioners with effect from July 1, 2021. Information and Broadcasting Minister Anurag Thakur made the announcement during a media briefing.
The move comes months after the Centre approved an 11 percentage point hike in DA and DR given to central government employees and pensioners&nbsp;from 17 per cent to 28 per cent. The hike was applicable from July 1, 2021, and benefitted more than 48 lakh central government employees, and 65 lakh pensioners. &nbsp; With the latest revision, the rate of DA and DR stands increased to 31 per cent, the minister said adding that this is set to benefit 47.14 lakh government employees and 68.62 lakh pensioners.
&nbsp; In a press briefing after the Cabinet meeting, Thakur informed that the total cost incurred by the central government will be Rs 9,488.74 crore annually.

BTC&nbsp;to the moon! Bitcoin&nbsp;investors saw their investments blasting out with profit as the world's most popular digital token surpassed $66,000 mark to hit a new all time high (ATH). Investors and analysts have largely attributed the rally to optimism over mainstream acceptance following the successful launch of the inaugural exchange-traded fund for U.S. investors. &nbsp;The cryptocurrency has rallied 120% in 2021 and doubled form it's June low but the last two years have been a rollercoaster&nbsp;ride for the crypto backers.&nbsp;Bitcoin entered 2020 as the top-performing&nbsp;asset of the last 10 years. BTC&nbsp;gained more than 300% in 2020 before plunging to the lows of $30,0000 on&nbsp;concerns of curbs from China to US.&nbsp;Digital token enthusiasts are backing their bets to set sights on $80,000 and took to social media to drum up their conviction.&nbsp;

Bitcoin soars to new record high, crypto bet gives 120% this year

Bitcoin blasting to a new ATH, has the crypto backers get a big thumbs up as crypto from Mar 20 bottom #BTC is up nearly 20x. The HODL anthem gets louder! 

Bitcoin blasts to new high, HODL'ers chant out a new ATH anthem

Instructions&nbsp; 1. Use Bitcoin&nbsp;taking off -&nbsp;https://twitter.com/CoinSmart/status/1450821904793849864?s=20 https://twitter.com/iswholdings/status/1450820870465851393?s=20 2. Record high&nbsp; https://twitter.com/bitfinex/status/1450852010740396043?s=20 Shots of ETF&nbsp;launch -&nbsp;https://twitter.com/Bitcoin/status/1450474199131242499?s=20 Last Para&nbsp;use -&nbsp;https://twitter.com/BTC_Archive/status/1449054268774813697?s=20 https://twitter.com/JonNoorlander/status/1450544953944281088?s=20 Last line use and breath with loudness&nbsp; https://twitter.com/ThinkingCrypto1/status/1449061018232102919?s=20

The token has doubled from it's June low of $30,000 after China imposed curbs on crypto&nbsp;mining.&nbsp;

BTC&nbsp;to the moon! Bitcoin&nbsp;investors saw their investments blasting out with profit as the world's most popular digital token surpassed $66,000 mark to hit a new all time high (ATH). Investors and analysts have largely attributed the rally to optimism over mainstream acceptance following the successful launch of the inaugural exchange-traded fund for U.S. investors. &nbsp; The cryptocurrency has rallied 120% in 2021 and doubled form it's June low but the last two years have been a rollercoaster&nbsp;ride for the crypto backers.&nbsp;Bitcoin entered 2020 as the top-performing&nbsp;asset of the last 10 years. BTC&nbsp;gained more than 300% in 2020 before plunging to the lows of $30,0000 on&nbsp;concerns of curbs from China to US.&nbsp;Digital token enthusiasts are backing their bets to set sights on $80,000 and took to social media to drum up their conviction.&nbsp;

Petrol and diesel prices are back on their upward march after just a two-day break. Both petrol and diesel became costlier by 35 paise per liter. Fuel prices have seen 14 hikes in 20 days in the month of October.At the beginning of the year, petrol was retailing at&nbsp;Rs 83.97 and diesel at Rs 74.12 per liter. They have now escalated to Rs 106.19 and Rs 94.92 per liter respectively. That is, within just 10 months, petrol has become costlier by Rs 22 and diesel by Rs 20.
Let's see the price of petrol and diesel in big cities...
City&nbsp; &nbsp; &nbsp; &nbsp;Petrol&nbsp; &nbsp;Diesel
Delhi&nbsp; &nbsp; &nbsp; 106.19&nbsp; 94.92
Mumbai&nbsp; 112.11&nbsp; 102.89
Kolkata&nbsp; &nbsp;106.43&nbsp; 97.68
Chennai&nbsp; &nbsp;103.16&nbsp; 99.07


14 hikes in 20 days, Petrol and diesel prices continue to sky rocket

Petrol prices are up Rs 20 in just the last 10 months and showing no respite. Are fuel prices poised to cross the Rs 120 mark?

Fuel on fire and it is burning a hole in your pocket! 

Let's see the price of petrol and diesel in big cities...
City&nbsp; &nbsp; &nbsp; &nbsp;Petrol&nbsp; &nbsp;Diesel
Delhi&nbsp; &nbsp; &nbsp; 106.19&nbsp; 94.92
Mumbai&nbsp; 112.11&nbsp; 102.89
Kolkata&nbsp; &nbsp;106.43&nbsp; 97.68
Chennai&nbsp; &nbsp;103.16&nbsp; 99.07

Both petrol and diesel became costlier by 35 paise per liter on Wednesday.&nbsp;

Petrol and diesel prices are back on their upward march after just a two-day break. Both petrol and diesel became costlier by 35 paise per liter. Fuel prices have seen 14 hikes in 20 days in the month of October. At the beginning of the year, petrol was retailing at&nbsp;Rs 83.97 and diesel at Rs 74.12 per liter. They have now escalated to Rs 106.19 and Rs 94.92 per liter respectively. That is, within just 10 months, petrol has become costlier by Rs 22 and diesel by Rs 20.

IMF's&nbsp;chief economist Gita&nbsp;Gopinath will leave the post in January to resume her job at Harvard University. The 49-year-old prominent Indian-American economist had joined the International Monetary Fund (IMF) as the Chief Economist in January 2019.Mysuru-born Gopinath&nbsp;who is the first-ever woman Chief Economist of the IMF&nbsp;will rejoin Harvard University in January to retain her tenured faculty post.&nbsp;The normal maximum leave&nbsp;granted under Harvard&rsquo;s rules is two consecutive years for public service. The university had extended her leave by one year on an exceptional basis.&nbsp;Born in December 1971 to Malayalee parents, Gopinath had her schooling in Kolkata and graduated from the Lady Shri Ram College of Commerce in Delhi. Gopinath did her Ph.D in economics from Princeton University in 2001 and she was guided by Kenneth Rogoff, Ben Bernanke and Pierre-Olivier Gourinchas.
She joined Harvard in 2005 to became a tenured Professor there in 2010. She is the third woman in the history of Harvard to be a tenured professor at its economics department and the first Indian since the Nobel laureate Amartya Sen to hold that position.

IMF Chief Gita Gopinath to leave post and return to Harvard

Mysuru-born Gita Gopinath who is the first-ever woman Chief Economist of the IMF will rejoin Harvard to retain her tenured faculty post. 

Gita Gopinath heads back to academia, IMF thanks her for crisis navigation

The 49-year-old prominent Indian-American economist had joined the International Monetary Fund (IMF) as the Chief Economist in January 2019.

IMF's&nbsp;chief economist Gita&nbsp;Gopinath will leave the post in January to resume her job at Harvard University. The 49-year-old prominent Indian-American economist had joined the International Monetary Fund (IMF) as the Chief Economist in January 2019. Mysuru-born Gopinath&nbsp;who is the first-ever woman Chief Economist of the IMF&nbsp;will rejoin Harvard University in January to retain her tenured faculty post.&nbsp;The normal maximum leave&nbsp;granted under Harvard&rsquo;s rules is two consecutive years for public service. The university had extended her leave by one year on an exceptional basis.&nbsp;
Also watch:&nbsp;<a title="Facelift for Facebook; likely to get a new name next week: reports" href="https://www.editorji.com/business-news/facelift-for-facebook-likely-to-get-a-new-name-next-week-reports-1634704107270">Facelift for Facebook; likely to get a new name next week: reports</a> Born in December 1971 to Malayalee parents, Gopinath had her schooling in Kolkata and graduated from the Lady Shri Ram College of Commerce in Delhi. Gopinath did her Ph.D in economics from Princeton University in 2001 and she was guided by Kenneth Rogoff, Ben Bernanke and Pierre-Olivier Gourinchas.
She joined Harvard in 2005 to became a tenured Professor there in 2010. She is the third woman in the history of Harvard to be a tenured professor at its economics department and the first Indian since the Nobel laureate Amartya Sen to hold that position.

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L&T acquires 20% stake in Mindtree: report

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