Today's Sector News – 19.07.2019
* AVIATION: Go Airlines (India) has got on-board new senior management, including former Airbus and Rolls-Royce executive Miranda Mills as its chief operating officer.
-The government reconstituted a group of ministers tasked to work out the modalities for sale of Air
India.
* ENERGY: The government has approved a proposal for early regulatory approval for transmission schemes for 66.5 GW National Renewable Energy Mission projects by Central Electricity Regulatory Commission.
* FINANCE: The National Company Law Tribunal allowed investigating agencies to implead IL&FS
Financial Services' auditors--Deloitte Haskins and Sells Llp and BSR & Associates Llp, along with 21 other entities--in the Infrastructure Leasing & Financial Services case.
* INFRASTRUCTURE: Industry body Confederation of Indian Industry has proposed applying the tolloperate- transfer model prevalent in the road sector for monetising existing power transmission lines in states.
-National Highways Authority of India is tapping Life Insurance Corp of India for a funding of 300 bln rupees in the current financial year.
* RAILWAYS: The Union government is looking to open up the ambitious 1-trln-rupee railway stations redevelopment programme to private equity players and pension funds.
* REGULATORY: In an attempt to curtail the frenzy caused by the sudden resignations of statutory auditors, the Securities and Exchange Board of India has proposed stricter norms regulating the resignation of auditors and enlarging the role of audit committees of listed companies.
-The Securities and Exchange Board of India has told the government that recent budget proposals
could undermine its role as regulator, particularly with respect to the recommendation that the minimum public shareholding be raised to 35% from 25%.
* TELECOMMUNICATION: The Department of Telecommunications has sought a slew of measures,
including a reduction in goods and services tax on telecom services and gear, lower levies and also refund GST input tax credits as part of a relief package for the debt-laden telecom industry.
-The government is taking steps to make Bharat Sanchar Nigam more competitive, including
upgradation of technology and capital infusion.
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-The government reconstituted a group of ministers tasked to work out the modalities for sale of Air
India.
* ENERGY: The government has approved a proposal for early regulatory approval for transmission schemes for 66.5 GW National Renewable Energy Mission projects by Central Electricity Regulatory Commission.
* FINANCE: The National Company Law Tribunal allowed investigating agencies to implead IL&FS
Financial Services' auditors--Deloitte Haskins and Sells Llp and BSR & Associates Llp, along with 21 other entities--in the Infrastructure Leasing & Financial Services case.
* INFRASTRUCTURE: Industry body Confederation of Indian Industry has proposed applying the tolloperate- transfer model prevalent in the road sector for monetising existing power transmission lines in states.
-National Highways Authority of India is tapping Life Insurance Corp of India for a funding of 300 bln rupees in the current financial year.
* RAILWAYS: The Union government is looking to open up the ambitious 1-trln-rupee railway stations redevelopment programme to private equity players and pension funds.
* REGULATORY: In an attempt to curtail the frenzy caused by the sudden resignations of statutory auditors, the Securities and Exchange Board of India has proposed stricter norms regulating the resignation of auditors and enlarging the role of audit committees of listed companies.
-The Securities and Exchange Board of India has told the government that recent budget proposals
could undermine its role as regulator, particularly with respect to the recommendation that the minimum public shareholding be raised to 35% from 25%.
* TELECOMMUNICATION: The Department of Telecommunications has sought a slew of measures,
including a reduction in goods and services tax on telecom services and gear, lower levies and also refund GST input tax credits as part of a relief package for the debt-laden telecom industry.
-The government is taking steps to make Bharat Sanchar Nigam more competitive, including
upgradation of technology and capital infusion.
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