Today Sector News – 09.03.2018
* AGRICULTURE: Farm crisis slows down Maharashtras growth to 7.3% from 10%.
* AVIATION: The civil aviation ministry has again voiced its concern on the high rate of taxation on aviation turbine fuel, which accounts for a significant chunk of an airline's operational costs and also impacts air fares.
-The government of Assam has offered to provide 1 bln rupees annually for three years for expansion of air connectivity to Southeast Asia under the centrally-sponsored regional connectivity scheme Ude Desh ka Aam Naagrik, or UDAN, Aviation Secretary R.N. Choubey said at Wings India 2018 in Hyderabad.
-The government will call of rebids for the state-owned helicopter operator, Pawan Hans, soon and issue the expression of interest for bidders interested in participating in the divestment of Air India in the next two weeks, Choubey said.
* BANKING: The RBI imposed a penalty of 1 mln rupees on Equitas Small Finance Bank Ltd on Mar 1, for non-compliance with one of the norms related to licensing conditions.
* ECONOMY: CRIF High Mark Credit Information Services is in discussion with the RBI's panel on
formation and implementation of a public credit registry, Managing Director Kalpana Pandey said.
-The government expects the RBI to transfer some more dividend soon, in addition to the 306.59 bln rupees already transferred for 2016-17 (Jul-Jun), Subhash Chandra Garg, secretary in the Department of Economic Affairs, said.
-A parliamentary standing committee on commerce will examine the impact of Chinese goods on Indian industry.
-The government has sought Parliament nod for additional cash spending of 853.15 bln rupees in the
current fiscal, of which 70% is earmarked to compensate states for revenue loss on account of goods and services tax roll out.
* RAILWAYS: Given that Indian Railways' annual purchases are over 500 bln rupees every year, the national transporter is trying to save by opting for reverse auction on an electronic platform.
* REGULATORY: The SEBI has returned the consent application filed by the NSE in the co-location case.
* TELECOMMUNICATION: The National Company Law Tribunal has approved Aircel's plea to initiate insolvency proceedings.
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* AVIATION: The civil aviation ministry has again voiced its concern on the high rate of taxation on aviation turbine fuel, which accounts for a significant chunk of an airline's operational costs and also impacts air fares.
-The government of Assam has offered to provide 1 bln rupees annually for three years for expansion of air connectivity to Southeast Asia under the centrally-sponsored regional connectivity scheme Ude Desh ka Aam Naagrik, or UDAN, Aviation Secretary R.N. Choubey said at Wings India 2018 in Hyderabad.
-The government will call of rebids for the state-owned helicopter operator, Pawan Hans, soon and issue the expression of interest for bidders interested in participating in the divestment of Air India in the next two weeks, Choubey said.
* BANKING: The RBI imposed a penalty of 1 mln rupees on Equitas Small Finance Bank Ltd on Mar 1, for non-compliance with one of the norms related to licensing conditions.
* ECONOMY: CRIF High Mark Credit Information Services is in discussion with the RBI's panel on
formation and implementation of a public credit registry, Managing Director Kalpana Pandey said.
-The government expects the RBI to transfer some more dividend soon, in addition to the 306.59 bln rupees already transferred for 2016-17 (Jul-Jun), Subhash Chandra Garg, secretary in the Department of Economic Affairs, said.
-A parliamentary standing committee on commerce will examine the impact of Chinese goods on Indian industry.
-The government has sought Parliament nod for additional cash spending of 853.15 bln rupees in the
current fiscal, of which 70% is earmarked to compensate states for revenue loss on account of goods and services tax roll out.
* RAILWAYS: Given that Indian Railways' annual purchases are over 500 bln rupees every year, the national transporter is trying to save by opting for reverse auction on an electronic platform.
* REGULATORY: The SEBI has returned the consent application filed by the NSE in the co-location case.
* TELECOMMUNICATION: The National Company Law Tribunal has approved Aircel's plea to initiate insolvency proceedings.
