Five must-read stories—February 11
The stories you can’t miss
In the first such scheme in the country, the Mamata Banerjee government has proposed in its budget a grant of ₹50,000 each to 50,000 migrant workers who were forced to return from other states because of demonetisation. A Telegraph report.
Governor Vidyasagar Rao has indicated that he is inclined to wait till the Supreme Court delivers its verdict on the appeals in the disproportionate assets cases against Sasikala, before deciding on the claims of majority support in the Tamil Nadu Assembly by the rival factions of the AIADMK, reports The Hindu.
French automobile major PSA Group, makers of the Peugeot, Citroën and DS, is acquiring the iconic Ambassador brand from the ailing Hindustan Motors for Rs 80 crore, reports The Telegraph.
Kanpur’s economy was once dominated by its booming leather industry, which employed a million workers in the 1990s, but now provides half as many. Slipping global demand, environmental curbs and contemporary cow politics have combined to cripple the leather industry, with exports falling 11% over six years. An IndiaSpend report.
Corporate governance may be the overarching theme in the slugfest between the founders and the current Infosys management. However, the old guard apparently believes that cash worth $5.25 billion sitting on Infosys' books, instead of improving shareholders’ return, was being used to reward certain employees, reports The Indian Express.