SECTORS ALERT – 04.07.2014
* AGRICULTURE: The India Meteorological Department has forecast
improvement in rains after Sunday, Agriculture Minister Radha Mohan Singh said.
* AUTOMOTIVE: The government has constituted a panel to develop fuel
economy norms for heavy-duty vehicles. Nissan plans to introduce a hatchback
priced below the Alto.
* AVIATION: Air India has invited bids from banks to arrange financing of up to
$44 mln for taking delivery of two GEnx spare engines. Indian air traffic grew by
4% in May, even as the overall global air traffic rose by 6.2%.
- AirAsia India will accelerate its fleet induction plans on high passenger
demand. Its founders will pump excess of $200 mln into the airline every year.
* FOREIGN TRADE: India has told the World Trade Organisation it will not ratify
trade facilitation agreement because there has been no progress on finding a
permanent solution to the sticky issue of food subsidy caps.
* GOVERNMENT: The Narendra Modi-led government is reviewing the outgoing
government's decision to have a uniform gas price, as the cost of production of
new fields is much higher than old ones and coal-bed methane.
- The government may take the middle path to resolve its long-pending
tax dispute with Vodafone by waiving off interest by amending the law. The
government is likely to introduce four education bills during the budget session.
To curb diversion of domestic liquefied petroleum gas, the government is
planning to transfer subsidy amounts directly to the consumer's bank account,
but without the use of Aadhar.
- The government is planning to allow consumers in the power, steel and
cement sectors to swap fuel linkages between associated companies and special
purpose vehicles.
* MEDIA: Private FM radio channels will soon be allowed to air news.
* MONSOON: The India Meteorological Department has said that India's rainfallon Jul 3 was 4.4 mm, 48% below normal.
* NATIONAL SECURITY: Ahead of Prime Minister Narendra Modi's visit to Jammu
and Kashmir, the Army foiled a second infiltration bid in less than 24 hours along
the Line of Control in Poonch district on Thursday.
* PHARMACEUTICALS: The government has decided to bring four new vaccines
under Universal Immunisation Programme.
* REGULATORY: The tax department has told the Supreme Court it seeks 70 bln
rupees from Sahara as tax deducted at source on 257 bln rupees collected by the
company through debentures between 2008-11. RBI has restored the limit of
overseas direct investment under the automatic route to 400% of a company's
net worth.
* REAL ESTATE: Urban Development Minister M. Venkaiah Naidu has said the
government would open an escrow account to fund affordable housing in the
country.
* ROADS: The Committee on Public Undertakings, Parliament's watchdog, has
asked the Ministry of Road Transport and Highways to place the National
Highways Authority of India under its purview.
- The government will initiate measures to turn around the highways sector in
two years by garnering funds to the tune of 1 trln rupees in a year, Road
Transport Minister Nitin Gadkari said.
* TAXATION: The Centre and states moved closer to evolving a consensus on
rolling out the Goods and Services Tax in the country with both sides narrowing
their differences.
* TELECOMMUNICATIONS: A Department of Telecommunications panel has
given its report on segregation of revenues earned by telecom operators from
use of broadband wireless access spectrum meant for high-speed data services.
* AGRICULTURE: The India Meteorological Department has forecast
improvement in rains after Sunday, Agriculture Minister Radha Mohan Singh said.
* AUTOMOTIVE: The government has constituted a panel to develop fuel
economy norms for heavy-duty vehicles. Nissan plans to introduce a hatchback
priced below the Alto.
* AVIATION: Air India has invited bids from banks to arrange financing of up to
$44 mln for taking delivery of two GEnx spare engines. Indian air traffic grew by
4% in May, even as the overall global air traffic rose by 6.2%.
- AirAsia India will accelerate its fleet induction plans on high passenger
demand. Its founders will pump excess of $200 mln into the airline every year.
* FOREIGN TRADE: India has told the World Trade Organisation it will not ratify
trade facilitation agreement because there has been no progress on finding a
permanent solution to the sticky issue of food subsidy caps.
* GOVERNMENT: The Narendra Modi-led government is reviewing the outgoing
government's decision to have a uniform gas price, as the cost of production of
new fields is much higher than old ones and coal-bed methane.
- The government may take the middle path to resolve its long-pending
tax dispute with Vodafone by waiving off interest by amending the law. The
government is likely to introduce four education bills during the budget session.
To curb diversion of domestic liquefied petroleum gas, the government is
planning to transfer subsidy amounts directly to the consumer's bank account,
but without the use of Aadhar.
- The government is planning to allow consumers in the power, steel and
cement sectors to swap fuel linkages between associated companies and special
purpose vehicles.
* MEDIA: Private FM radio channels will soon be allowed to air news.
* MONSOON: The India Meteorological Department has said that India's rainfallon Jul 3 was 4.4 mm, 48% below normal.
* NATIONAL SECURITY: Ahead of Prime Minister Narendra Modi's visit to Jammu
and Kashmir, the Army foiled a second infiltration bid in less than 24 hours along
the Line of Control in Poonch district on Thursday.
* PHARMACEUTICALS: The government has decided to bring four new vaccines
under Universal Immunisation Programme.
* REGULATORY: The tax department has told the Supreme Court it seeks 70 bln
rupees from Sahara as tax deducted at source on 257 bln rupees collected by the
company through debentures between 2008-11. RBI has restored the limit of
overseas direct investment under the automatic route to 400% of a company's
net worth.
* REAL ESTATE: Urban Development Minister M. Venkaiah Naidu has said the
government would open an escrow account to fund affordable housing in the
country.
* ROADS: The Committee on Public Undertakings, Parliament's watchdog, has
asked the Ministry of Road Transport and Highways to place the National
Highways Authority of India under its purview.
- The government will initiate measures to turn around the highways sector in
two years by garnering funds to the tune of 1 trln rupees in a year, Road
Transport Minister Nitin Gadkari said.
* TAXATION: The Centre and states moved closer to evolving a consensus on
rolling out the Goods and Services Tax in the country with both sides narrowing
their differences.
* TELECOMMUNICATIONS: A Department of Telecommunications panel has
given its report on segregation of revenues earned by telecom operators from
use of broadband wireless access spectrum meant for high-speed data services.
