Today's Sector News – 18.07.2019
* COMMODITY: Tea production in Assam is expected to decline 8% this year due to heavy rainfall and floods, planters and industry executives said.
* ECONOMY: The Cabinet on Wednesday approved extending the term of the Fifteenth Finance Commission till Nov 30. The Union Cabinet on Wednesday approved a Bill to set up the National Medical Commission, which will replace the Medical Council of India. Securities and Exchange Board of India Chairman Ajay Tyagi has written to Finance Minister Nirmala Sitharaman, saying budget proposals requiring the transfer of the regulator's surplus funds to the Consolidated Fund of India and prior government nod for its annual capital expenditure plans will affect the entity's financial autonomy.
* ENERGY: The Andhra Pradesh government's move to renegotiate solar and wind power purchase
agreements is risky, with potential to hamper generators' cash flows on account of delayed payments, Fitch Ratings said.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority is mulling a proposal to increase prices of certain medicines under price control to offset potential shortages due to increasing prices of key ingredients used to make them.
* POWER: The Appellate Tribunal for Electricity stayed the controversial Jul 12 letter issued by a distribution power utility of Andhra Pradesh to three Greenko Energy group firms asking for drastic reduction in solar power tariff.
* RAILWAYS: The Cabinet on Wednesday approved railway line projects in Assam and Uttar Pradesh at an estimated cost of 60.11 bln rupees.
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* ECONOMY: The Cabinet on Wednesday approved extending the term of the Fifteenth Finance Commission till Nov 30. The Union Cabinet on Wednesday approved a Bill to set up the National Medical Commission, which will replace the Medical Council of India. Securities and Exchange Board of India Chairman Ajay Tyagi has written to Finance Minister Nirmala Sitharaman, saying budget proposals requiring the transfer of the regulator's surplus funds to the Consolidated Fund of India and prior government nod for its annual capital expenditure plans will affect the entity's financial autonomy.
* ENERGY: The Andhra Pradesh government's move to renegotiate solar and wind power purchase
agreements is risky, with potential to hamper generators' cash flows on account of delayed payments, Fitch Ratings said.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority is mulling a proposal to increase prices of certain medicines under price control to offset potential shortages due to increasing prices of key ingredients used to make them.
* POWER: The Appellate Tribunal for Electricity stayed the controversial Jul 12 letter issued by a distribution power utility of Andhra Pradesh to three Greenko Energy group firms asking for drastic reduction in solar power tariff.
* RAILWAYS: The Cabinet on Wednesday approved railway line projects in Assam and Uttar Pradesh at an estimated cost of 60.11 bln rupees.
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