Daily Sector News Today – 01.01.2018
* BANKING: Growth in non-food credit of banks rose to 8.8% in November from 4.8% a year ago,
according to data released by the Reserve Bank of India.
* ECONOMY: The Lok Sabha passed The Insolvency and Bankruptcy Code (Amendment) Bill, 2017, to replace an ordinance that barred promoters and wilful defaulters from bidding for their insolvent
assets. India signed three more advance pricing agreements in December taking the total number of both bilateral and unilateral pricing pacts to 189.
* FUNDS: The average daily purchases by the mutual funds in the equities in December was at a ninemonth low, data from the Securities and Exchange Board of India showed.
* INFORMATION TECHNOLOGY: Investment in manufacturing electronics in India rose 27% to 1.57 trln rupees in 2017 as production of mobile phone rose 60%, the information technology ministry said. SEBI has shortlisted 15 entities, including TATA COMMUNICATIONS, WIPRO and TECH MAHINDRA, to identify and classify security holes in information technology infrastructure, and protect against security threats.
* INFRASTRUCTURE: India to have 10,000 seaplanes; e-highways soon, said Transport Minister Nitin Gadkari.
* TAXATION: The government has extended the deadline for filing quarterly returns under GSTR-1 for Jul-Sep to Jan 10 for registered entities with a turnover of under 15 mln rupees, a finance ministry
release said. The anti-profiteering authority set up to look into complaints of profiteering from the goods and services tax has so far received 169 complaints alleging that suppliers of goods and services have not passed on the GST benefits to customers. Nearly 600,000 taxpayers availing the simple composition scheme under the goods and services tax have paid a tax of only about 2.5 bln rupees for Jul-Aug, leading the government to suspect tax evasion. The goods and services tax provision, requiring transporters to carry an electronic way bill or e-way bill when moving goods between states, will be implemented from Feb 1.
* TELECOMMUNICATION: Bharat Sanchar Nigam is planning to launch fourth generation services in all the 22 circles in the country, and has sent a detailed project report to the Department of Telecom. The telecom department will issue notices to five telecom operators, including TATA TELESERVICES, Telenor and RELIANCE INDUSTRIES' Reliance Jio, to recover 25.78 bln rupees.
CLICK HERE
*********************************************************************************
according to data released by the Reserve Bank of India.
* ECONOMY: The Lok Sabha passed The Insolvency and Bankruptcy Code (Amendment) Bill, 2017, to replace an ordinance that barred promoters and wilful defaulters from bidding for their insolvent
assets. India signed three more advance pricing agreements in December taking the total number of both bilateral and unilateral pricing pacts to 189.
* FUNDS: The average daily purchases by the mutual funds in the equities in December was at a ninemonth low, data from the Securities and Exchange Board of India showed.
* INFORMATION TECHNOLOGY: Investment in manufacturing electronics in India rose 27% to 1.57 trln rupees in 2017 as production of mobile phone rose 60%, the information technology ministry said. SEBI has shortlisted 15 entities, including TATA COMMUNICATIONS, WIPRO and TECH MAHINDRA, to identify and classify security holes in information technology infrastructure, and protect against security threats.
* INFRASTRUCTURE: India to have 10,000 seaplanes; e-highways soon, said Transport Minister Nitin Gadkari.
* TAXATION: The government has extended the deadline for filing quarterly returns under GSTR-1 for Jul-Sep to Jan 10 for registered entities with a turnover of under 15 mln rupees, a finance ministry
release said. The anti-profiteering authority set up to look into complaints of profiteering from the goods and services tax has so far received 169 complaints alleging that suppliers of goods and services have not passed on the GST benefits to customers. Nearly 600,000 taxpayers availing the simple composition scheme under the goods and services tax have paid a tax of only about 2.5 bln rupees for Jul-Aug, leading the government to suspect tax evasion. The goods and services tax provision, requiring transporters to carry an electronic way bill or e-way bill when moving goods between states, will be implemented from Feb 1.
* TELECOMMUNICATION: Bharat Sanchar Nigam is planning to launch fourth generation services in all the 22 circles in the country, and has sent a detailed project report to the Department of Telecom. The telecom department will issue notices to five telecom operators, including TATA TELESERVICES, Telenor and RELIANCE INDUSTRIES' Reliance Jio, to recover 25.78 bln rupees.
