Today's Sector News – 17.07.2019
* AUTOMOBILE: Financing constraints due to reduced liquidity in the non-banking financial sector continue to affect the working of retail automobile dealers, both on the retail front as well as in terms of working capital needs, the Federation of Automobile Dealers Associations said.
* FERTILISERS: The Centre wants to introduce harmonised system codes for all types of fertilisers and agrochemicals to maintain quality and check counterfeiting and duplication, Secretary for Chemicals and Petrochemicals P. Raghavendra Rao said.
* INFRASTRUCTURE: Asian Development Bank has sanctioned 70 bln rupees for adopting safety measures on Indian highways, Minister for Road Transport and Highways Nitin Gadkari said.
* NON BANKING FINANCIAL COMPANIES: IL&FS Financial Services has appointed Mukund M Chitale and Co as the statutory auditor which will hold office till the forthcoming annual general meeting concludes.
* OIL AND GAS: Iran is hopeful that India will resume buying its crude oil, said a senior official from the West Asian nation, claiming that restarting the imports will be "in India's own interest".
-The government has no plan to completely ban vehicles powered by petrol and diesel but it will work
to promote electric vehicles, Petroleum Minister Dharmendra Pradhan said.
-The government has set up a committee to consider allowing private sector players to sell subsidised
liquefied petroleum gas, Petroleum Minister Dharmendra Pradhan said.
-The government is set to introduce rules in six months that could lead to the phase-out of monopolies
controlled by natural gas distribution companies in 34 cities, including New Delhi and Mumbai, allowing many consumers to choose a new supplier, a regulatory official said
* TELECOMMUNICATIONS: The Department of Telecommunications has signed a pact with the Indian Council for Research on International Economic Relations for development of a Broadband Readiness Index for states and Union territories.
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* FERTILISERS: The Centre wants to introduce harmonised system codes for all types of fertilisers and agrochemicals to maintain quality and check counterfeiting and duplication, Secretary for Chemicals and Petrochemicals P. Raghavendra Rao said.
* INFRASTRUCTURE: Asian Development Bank has sanctioned 70 bln rupees for adopting safety measures on Indian highways, Minister for Road Transport and Highways Nitin Gadkari said.
* NON BANKING FINANCIAL COMPANIES: IL&FS Financial Services has appointed Mukund M Chitale and Co as the statutory auditor which will hold office till the forthcoming annual general meeting concludes.
* OIL AND GAS: Iran is hopeful that India will resume buying its crude oil, said a senior official from the West Asian nation, claiming that restarting the imports will be "in India's own interest".
-The government has no plan to completely ban vehicles powered by petrol and diesel but it will work
to promote electric vehicles, Petroleum Minister Dharmendra Pradhan said.
-The government has set up a committee to consider allowing private sector players to sell subsidised
liquefied petroleum gas, Petroleum Minister Dharmendra Pradhan said.
-The government is set to introduce rules in six months that could lead to the phase-out of monopolies
controlled by natural gas distribution companies in 34 cities, including New Delhi and Mumbai, allowing many consumers to choose a new supplier, a regulatory official said
* TELECOMMUNICATIONS: The Department of Telecommunications has signed a pact with the Indian Council for Research on International Economic Relations for development of a Broadband Readiness Index for states and Union territories.
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