Daily Sector News Today – 23.11.2017
* AVIATION: Passengers should brace for a fare increase, as the government is likely to raise the passenger service fee by at least by 38% to meet the cost of security at Indian airports.
* ECONOMY: The Cabinet Committee on Parliamentary Affairs has decided to hold the Winter Session of Parliament between Dec 15 and Jan 5. The Union Cabinet has approved an ordinance to amend the Insolvency and Bankruptcy Code, Finance Minister Arun Jaitley said in a briefing to the media. The Union Cabinet has allowed central public sector enterprises to start negotiations on wages for their employees.
* INFRASTRUCTURE: The National Highway Authority of India has borrowed 50 bln rupees from debt buyer Employees' Provident Fund Organisation by selling long-tenure bonds to aid the government's Bharatmala road project.
* INFORMATION TECHNOLOGY: The tax department has raised service tax demand of about 100 bln rupees from information technology and IT-enabled services companies in the country, sending a shockwave through the industry already reeling under tighter US immigration laws and increasing automation.
* OIL AND GAS: Oil marketing companies have received bids for supply of 1.55 bln ltr of ethanol
as against 3.13 bln ltr sought in the first tender for 2017-18 (Apr-Mar).
* PHARMACEUTICALS: The government is contemplating changes in the Drugs and Cosmetics Act, 1940, to make pharmaceutical firms liable to pay compensation for injuries and damage caused to consumers by their products, including drugs and medical devices.
* TAXATION: The government has constituted a task force to draft a new legislation on direct tax, the Central Board of Direct Taxes said in a release.
* TELECOMMUNICATION: India is unlikely to be hit by the US Federal Communications Commission's plan to repeal net neutrality regulations.
CLICK HERE
*********************************************************************************
* ECONOMY: The Cabinet Committee on Parliamentary Affairs has decided to hold the Winter Session of Parliament between Dec 15 and Jan 5. The Union Cabinet has approved an ordinance to amend the Insolvency and Bankruptcy Code, Finance Minister Arun Jaitley said in a briefing to the media. The Union Cabinet has allowed central public sector enterprises to start negotiations on wages for their employees.
* INFRASTRUCTURE: The National Highway Authority of India has borrowed 50 bln rupees from debt buyer Employees' Provident Fund Organisation by selling long-tenure bonds to aid the government's Bharatmala road project.
* INFORMATION TECHNOLOGY: The tax department has raised service tax demand of about 100 bln rupees from information technology and IT-enabled services companies in the country, sending a shockwave through the industry already reeling under tighter US immigration laws and increasing automation.
* OIL AND GAS: Oil marketing companies have received bids for supply of 1.55 bln ltr of ethanol
as against 3.13 bln ltr sought in the first tender for 2017-18 (Apr-Mar).
* PHARMACEUTICALS: The government is contemplating changes in the Drugs and Cosmetics Act, 1940, to make pharmaceutical firms liable to pay compensation for injuries and damage caused to consumers by their products, including drugs and medical devices.
* TAXATION: The government has constituted a task force to draft a new legislation on direct tax, the Central Board of Direct Taxes said in a release.
* TELECOMMUNICATION: India is unlikely to be hit by the US Federal Communications Commission's plan to repeal net neutrality regulations.
