Saudi Aramco's biggest asset could also be a liability. The state-energy giant's vast oil reserves it can sustain current production levels for the next 50-years make it more exposed than any other company to a rising tide of environmental activism and shift away from fossil fuels. Aramco told Reuters it was ready for a listing and the timing would be decided by the government.

A government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul of the six-decades old tax act. The panel headed by Akhilesh Ranjan, a member of the central board of direct taxes, delivered its report to Sitharaman on Monday.

NCP leader Ajit Pawar on Tuesday attacked the ruling allies BJP and Shiv Sena over their respective pre-poll yatras, saying they undertook the mass outreach initiatives as their government "failed" to perform. Chief Minister Devendra Fadnavis began his mass outreach campaign, 'Mahajanadesh Yatra', on August 1 while Shiv Sena's Aaditya Thackeray launched his 'Jan Ashirwad Yatra' on July 18.