Subsidy for green vehicles, Naresh Goyal agrees to leave Jet's cockpit, and more top news

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Owning an electric vehicle may soon get a lot cheaper. Times of India reports the government is set to announce a subsidy of up to ?2.5 lakh for 60,000 electric cars and a rebate of up to ?20,000 for hybrid cars. The subsidy will be calculated based on the vehicle’s battery capacity: ?10,000 per KWh. That means a Mahindra E-Verito may qualify for a discount of around ?1.5 lakh while a two-wheeler could be sold for ?40,000 less. The ?10,000-crore scheme is likely to come into effect from April 2019. Here's what people are saying.

Do you think the subsidy will persuade customers enough to buy an electric vehicle over a conventional one? What other steps should the government take to boost EVs' offtake?

Naresh Goyal has agreed to step down as Jet Airways chairman under a lender-driven bailout plan, several publications reported, citing sources. Economic Times said Goyal’s shareholding will fall below 20% from 51%, and his son, Nivaan, will replace him on the carrier’s board. Lenders feel Goyal’s resignation makes it easier for Jet’s partner Etihad to move in even as Reuters reported that the foreign carrier is “reticent to provide interim funding of $99 million.” Business Standard said the lenders have told Goyal and Etihad to pitch in funds for the carrier’s recovery. Here's what people are saying.

Also: Airfares are likely to rise in coming days, Times of India reports, citing two reasons. First, the price of jet aviation fuel has gone up by 10%, ending a declining trend observed since November. Second, the grounding of several Jet Airways aircraft and cancellation of Indigo flights due to a pilot shortage has shrunk the number of available seats on some routes. Here's what people are saying.

India’s GDP growth slowed to 6.6% in October-December from 7% in the previous quarter, according to data released by the Central Statistics Office. The worst performance in five quarters is attributable to weakness in consumer spending, which accounts for 60% of the economy, as well as poor external demand. The CSO also lowered the 2018-19 GDP forecast to 7% from 7.2%. Besides, core sector growth slipped to 1.8% in January due to a fall in production of crude oil and power. Mint research shows the economy is losing steam as sales of automobiles and tractors fall and growth in air traffic stagnates.

Grofers has raised $60 million in a Series F round led by existing backer SoftBank, Financial Express reports, citing data from paper.vc. SoftBank invested $37.5 million via its Vision Fund while Tiger Global and Sequoia Capital put in the rest. The fund infusion, part of a bigger round of $120 million, pushes Grofers’ valuation to $425 million. Economic Times says Vision Fund – which holds around 42% in the grocery delivery startup – may invest an additional $40 million in the firm. Grofers, which competes with bigger rival BigBasket, has started focussing on high-margin private brands.

Indians are guzzling data like never before. Citing Nokia’s Mobile Broadband Index, Times of India reports that average monthly 4G data usage hit 10.4 GB in 2018, up nearly a dozen times from 2015 and twice as much as in 2017. The reason? A video-watching frenzy fuelled by dirt-cheap internet plans and the rising popularity of 4G devices. Experts feel the sheer amount of data flowing through the network necessitates 5G, but a rollout is a ways away given the ecosystem is completely missing. Here's what people are saying.

?Idea of the Day: In a culture where being busy is applauded, smart business owners should utilise technology to make life easier, advises digital marketing coach and eCommerce specialist Kate Collinson.

“I started working for myself to do better work, earn more and work a little less—not more.”

— Abhigyan Chand and Mandar M Bakre/Share this using #DailyRundown

This article was updated. From earlier: Infosys has fined Kiran Mazumdar-Shaw ?9.5 lakh for “insider trading” after a lapse by her portfolio manager.

Yesterday’s rundown attracted responses to Jet Airways’ travails and workers’ long hours. Top Commenter Udit Agarwal pointed to three factors – a mentality that assumes production is proportional to hours of work; the need for appearances; and an inability to collaborate – that trap employees into spending more time at office. Join the conversation here.