Daily Sector News Today – 02.08.2017
* AVIATION: India will need 2,100 new commercial aero planes in the next 20 years, The Boeing Co said in Current Market Outlook for 2017.
* BANKING: The government is examining public sector banks for their Apr-Jun financial performance, credit growth projection and provisioning requirement, before announcing the capital infusion plan for 2017-18 (AprMar).
* ECONOMY: The Goods and Services Tax Council is likely to give its approval to the electronic-way bill rules at its meeting Saturday.
* INFORMATION TECHNOLOGY: The information technology ministry has sought a review and a subsequent hike in financial incentives to electronics manufacturing sector under the Modified Special Incentive Package Scheme as the government commitment to the subsidy has already topped 100 bln rupees.
- The government has formed an expert committee to study and identity key data protection issues as well as recommend methods to address problems faced by the information technology sector. Technology outsourcing companies are seeking fewer work visas from the US government, evident from the declining number of petitions filed this year, according to data from the US Citizenship and Immigration Services.
* INFRASTRUCTURE: LARSEN & TOUBRO and RELIANCE INFRASTRUCTURE are set to bag orders worth 13 bln rupees each for Mumbai metro project jobs.
* MEDIA: A single-window security clearance system and well-defined timeline for such approvals will improve the ease of doing business in the television broadcasting sector, Telecom Regulatory Authority of India said.
* OIL AND GAS: The price of petrol has been hiked by 7 paise per ltr for today to 64.47 rupees, ex-Delhi, according to INDIAN OIL CORP's website. The price of diesel has been increased by 6 paise per ltr to 55.64 rupees. Stateowned oil retailers are estimated to incur a loss of 7.02 rupees a ltr on the sale of subsidised kerosene in August, against 6.82 rupees per ltr in the first fortnight of July and 6.57 rupees in the second fortnight.
* RAILWAYS: The freight traffic of Indian Railways rose 4.4% on year to 93.22 mln tn in July, the first full month of the nationwide implementation of the goods and services tax.
* REALTY: As many as 21 ongoing real estate projects in and around Mumbai by six exchange-listed developers have been registered under the state's real estate regulation law.
* REGULATORY: The Securities and Exchange Board of India has constituted a committee to suggest measures for improved surveillance of the markets, insider trading laws, and fraudulent trade practices laws.
* TELECOM: TRAI has asked all carriers to submit from Tuesday their tariff plans online within seven working days of announcement, and is likely to put all such rates in the public domain by year end.
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* BANKING: The government is examining public sector banks for their Apr-Jun financial performance, credit growth projection and provisioning requirement, before announcing the capital infusion plan for 2017-18 (AprMar).
* ECONOMY: The Goods and Services Tax Council is likely to give its approval to the electronic-way bill rules at its meeting Saturday.
* INFORMATION TECHNOLOGY: The information technology ministry has sought a review and a subsequent hike in financial incentives to electronics manufacturing sector under the Modified Special Incentive Package Scheme as the government commitment to the subsidy has already topped 100 bln rupees.
- The government has formed an expert committee to study and identity key data protection issues as well as recommend methods to address problems faced by the information technology sector. Technology outsourcing companies are seeking fewer work visas from the US government, evident from the declining number of petitions filed this year, according to data from the US Citizenship and Immigration Services.
* INFRASTRUCTURE: LARSEN & TOUBRO and RELIANCE INFRASTRUCTURE are set to bag orders worth 13 bln rupees each for Mumbai metro project jobs.
* MEDIA: A single-window security clearance system and well-defined timeline for such approvals will improve the ease of doing business in the television broadcasting sector, Telecom Regulatory Authority of India said.
* OIL AND GAS: The price of petrol has been hiked by 7 paise per ltr for today to 64.47 rupees, ex-Delhi, according to INDIAN OIL CORP's website. The price of diesel has been increased by 6 paise per ltr to 55.64 rupees. Stateowned oil retailers are estimated to incur a loss of 7.02 rupees a ltr on the sale of subsidised kerosene in August, against 6.82 rupees per ltr in the first fortnight of July and 6.57 rupees in the second fortnight.
* RAILWAYS: The freight traffic of Indian Railways rose 4.4% on year to 93.22 mln tn in July, the first full month of the nationwide implementation of the goods and services tax.
* REALTY: As many as 21 ongoing real estate projects in and around Mumbai by six exchange-listed developers have been registered under the state's real estate regulation law.
* REGULATORY: The Securities and Exchange Board of India has constituted a committee to suggest measures for improved surveillance of the markets, insider trading laws, and fraudulent trade practices laws.
* TELECOM: TRAI has asked all carriers to submit from Tuesday their tariff plans online within seven working days of announcement, and is likely to put all such rates in the public domain by year end.
