Today's Sector News - 09.03.2020: 09.00 Am
* AVIATION: The government will consider providing relief to the airline industry, which is grappling with the impact of coronavirus outbreak, discussions are going on between the domestic and international airlines.
* BANKING: The takeover of the YES Bank board of directors by the Reserve Bank of India has cast light on governance risks in India's banking sector and has highlighted systemic risks, Fitch Ratings said.
* COMMODITY: The Assam government has withdrawn income tax on tea for the next three financial years in its Budget for 2020-21 (Apr-Mar) to support the sector.
* ECONOMY: India is looking at concluding a mini trade deal with the US in the near term before a
comprehensive free trade agreement is finalised, said Hardeep Singh Puri, the minister of state for
commerce and industry.
* INFRASTRUCTURE: Crisis-hit IL&FS has sought extension of bid validity for five road projects that are faced with debts totalling over 100 bln rupees.
* MINING: The Lok Sabha passed the Mineral Laws (Amendment) Bill, 2020 that seeks to amend the Mines and Minerals (Development and Regulation) Act, 1957 and the Coal Mines (Special Provisions) Act, 2015.
* REAL ESTATE: The Maharashtra government cut the stamp duty on real-estate deals in Mumbai and Pune by 1%, and said the concessional stamp duty on some deals will be available for two years.
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