Today's Sector News – 25.07.2019
* AUTOMOBILES: The revenue growth of the Indian automobile component sector is likely to remain flat in 2019-20 (Apr-Jun) due to a slowdown in auto sales, the Automotive Component Manufacturers Association of India said.
* COMMODITY: The Cabinet approved creation of a 4 mln tn sugar buffer stock for 2019-20 (Aug-Jul), Minister of Information and Broadcasting Prakash Javadekar said.
* ECONOMY: In a major bureaucratic reshuffle, the Appointments Committee of the Cabinet on Wednesday shifted Finance and Economic Affairs Secretary Subhash Chandra Garg to the power ministry.
* ENERGY: The Ministry of New and Renewable Energy has undertaken amendments to guidelines on tariffbased competitive bidding process for procurement of power from grid connected wind power projects to reduce investment risk and incentivise early commissioning of projects.
* FINANCE: The centre is considering an option to raise $10 bln in one go from its first overseas bond sale as early as October.
* INFRASTRUCTURE: Assets of infrastructure investment trusts are expected to grow fivefold to over two trln rupees over the next two years, CRISIL Ratings said.
* TAXATION: The government has extended anti-dumping duty on Purified Terephthalic Acid used as raw material for manufacturing polyester coatings resins, as well as for other uses in the plastic industry, for five years, the finance ministry said in a notification.
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* COMMODITY: The Cabinet approved creation of a 4 mln tn sugar buffer stock for 2019-20 (Aug-Jul), Minister of Information and Broadcasting Prakash Javadekar said.
* ECONOMY: In a major bureaucratic reshuffle, the Appointments Committee of the Cabinet on Wednesday shifted Finance and Economic Affairs Secretary Subhash Chandra Garg to the power ministry.
* ENERGY: The Ministry of New and Renewable Energy has undertaken amendments to guidelines on tariffbased competitive bidding process for procurement of power from grid connected wind power projects to reduce investment risk and incentivise early commissioning of projects.
* FINANCE: The centre is considering an option to raise $10 bln in one go from its first overseas bond sale as early as October.
* INFRASTRUCTURE: Assets of infrastructure investment trusts are expected to grow fivefold to over two trln rupees over the next two years, CRISIL Ratings said.
* TAXATION: The government has extended anti-dumping duty on Purified Terephthalic Acid used as raw material for manufacturing polyester coatings resins, as well as for other uses in the plastic industry, for five years, the finance ministry said in a notification.
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