It would benefit 11 lakh employees and would cost the exchequer Rs 2,024 crore, said Union Minister Prakash Javadekar.
In line with gold, silver prices also declined by Rs 770 to Rs 47,690 per kilogram.
Petrol price was increased by 25 paise per litre to Rs 72.42 and diesel by 24 paise to Rs 65.82 in the Delhi market.
The acquisition was pursuant to a scheme of arrangement not directly involving Reliance, the filing said without giving details.
The announcement has come just ahead of the festive season sales and would positively impact the sales of LED TV panels.
Economic growth hit over six-year low of 5 per cent for the first quarter ended June 2019 mainly driven by demand slowdown.
Last week, the government announced a slew of measures to boost exports and the real estate sector.
Total annual revenue loss could be as much as 500 bn rupees if the panel decided to lower tax rates for auto sector to 18 pc from 28 pc.
The government on Monday exhorted Apple to expand manufacturing base in India and use the country as an export hub.
The deal would help Coffee Day Enterprises Ltd (CDEL) pare its debt of nearly Rs 5,000 crore.