SECTORS NEWS TODAY – 09.09.2016
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* ECONOMY: A decision on advancing the date of presentation of the Union Budget is likely this month, two finance ministry officials said. The government-appointed committee looking into the feasibility of merging the Union Budget and the Railway Budget has recommended merging the two. A meeting of the finance ministry and Reserve Bank of India officials to decide the government's borrowing for Oct-Mar is likely to be held between Sep 27 and Sep 30, a senior finance ministry official said.
* FERTILISERS: The government has removed the 'actual user' condition for import of industrial urea, allowing private traders to import the product.
* FINANCE: The Reserve Bank of India said 14 states will raise 163.25 bln rupees through the sale of 2- year, 5-year, 10-year and 15-year bonds on Monday. Municipal bodies of various states have started applying for ratings to issue municipal bonds and a few are already in advanced stages of receiving ratings, the Securities and Exchange Board of India Chairman U.K. Sinha said.
* TELECOMMUNICATION: Falling tariffs are good for consumers, Telecom Minister Manoj Sinha said, adding the Department of Telecommunications will keep a close watch on the outcome of today's meeting between top telecom companies and Reliance Jio Infocomm on the dispute over points of interconnection.
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* ECONOMY: A decision on advancing the date of presentation of the Union Budget is likely this month, two finance ministry officials said. The government-appointed committee looking into the feasibility of merging the Union Budget and the Railway Budget has recommended merging the two. A meeting of the finance ministry and Reserve Bank of India officials to decide the government's borrowing for Oct-Mar is likely to be held between Sep 27 and Sep 30, a senior finance ministry official said.
* FERTILISERS: The government has removed the 'actual user' condition for import of industrial urea, allowing private traders to import the product.
* FINANCE: The Reserve Bank of India said 14 states will raise 163.25 bln rupees through the sale of 2- year, 5-year, 10-year and 15-year bonds on Monday. Municipal bodies of various states have started applying for ratings to issue municipal bonds and a few are already in advanced stages of receiving ratings, the Securities and Exchange Board of India Chairman U.K. Sinha said.
* TELECOMMUNICATION: Falling tariffs are good for consumers, Telecom Minister Manoj Sinha said, adding the Department of Telecommunications will keep a close watch on the outcome of today's meeting between top telecom companies and Reliance Jio Infocomm on the dispute over points of interconnection.
