SECTORS NEWS TODAY – 19.09.2016
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* AGRICULTURE: A committee headed by Chief Economic Adviser Arvind Subramaniam recommended hiking the minimum support price of pulses, lifting the ban on exports as well as removing stock limits.
* AUTOMOBILE: MARUTI SUZUKI INDIA, TATA MOTORS, Toyota Motor and Honda Motor have either dropped or are reviewing plans to fit diesel engines on their small cars in India due to ambiguity over the use of the fuel in passenger vehicles.
* AVIATION: Airlines have asked the government to set the goods and services tax rate at 15% to
continue with the existing tax exemptions and avoid fare hikes.
* CORPORATE: West Bengal Finance Minister Amit Mitra said the state's message to the Tata Group is "loud and clear" that it is now up to the multinational conglomerate to take a call on the fresh offer for land.
* ENERGY: Maharashtra Cabinet has approved splitting of Ratnagiri Gas & Power into two power and gas terminal entities--Ratnagiri Power Co and Ratnagiri LNG Co. The World Trade Organisation's appellate body upheld the ruling of a WTO panel which stated India's power purchase agreements with solar firms were inconsistent with international norms. SunEdison is set to sell its entire Indian portfolio to Greenko for an enterprise valuation of $315 mln.
* FINANCE: The Pension Fund Regulatory and Development Authority issued a request for proposal for the appointment of pension fund managers for private sector National Pension System. The government is readying for a massive crackdown on black money once the Income Declaration Scheme ends on Sep 30.
* FMCG: Baba Ramdev's Patanjali Yogpeeth will set up a food and herbal park in Nepal.
* INFRASTRUCTURE: The government plans to launch a bidding process to monetise National Highways Authority of India's road assets worth 700 bln rupees next month.
* INSURANCE: The Insurance Regulatory Development Authority is expected to approve, by January, a proposal for allowing foreign reinsurance companies to set up a branch in India.
* PHARMACEUTICALS: A United Nations panel has urged the use of flexibility under Trade Related Aspects of Intellectual Property Rights which provides for leeway to middle- and low-income countries on imposing patents on medicines. The National Pharmaceutical Pricing Authority has cut the ceiling price of 18 more drugs by up to 23%. The government is planning to set up eight mini drug-testing laboratories at major ports and airports to monitor the quality of imported and exported drugs, health ministry officials have said. The NITI Aayog has proposed massive changes to the process of giving approvals in the pharmaceutical and medical research sector in order to encourage investment.
* REAL ESTATE: Teva Pharmaceutical Industries has inked a deal for 125,000 sq ft office space for lease in OBEROI REALTY'S commercial complex in the Goregaon suburb of Mumbai. A group of US-based investors plan to sell stake in First International Finance Centre for around 15 bln rupees.
* TELECOM: Virtual network operators, or telecom service resellers, are better placed now to enable
telecom service providers utilise network capacity and share infrastructure, Department of
Telecommunications Secretary J.S. Deepak said. A special Central Bureau of Investigation court dealing with second generation scam cases has held that it has the jurisdiction to hear the Aircel-Maxis case.
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* AGRICULTURE: A committee headed by Chief Economic Adviser Arvind Subramaniam recommended hiking the minimum support price of pulses, lifting the ban on exports as well as removing stock limits.
* AUTOMOBILE: MARUTI SUZUKI INDIA, TATA MOTORS, Toyota Motor and Honda Motor have either dropped or are reviewing plans to fit diesel engines on their small cars in India due to ambiguity over the use of the fuel in passenger vehicles.
* AVIATION: Airlines have asked the government to set the goods and services tax rate at 15% to
continue with the existing tax exemptions and avoid fare hikes.
* CORPORATE: West Bengal Finance Minister Amit Mitra said the state's message to the Tata Group is "loud and clear" that it is now up to the multinational conglomerate to take a call on the fresh offer for land.
* ENERGY: Maharashtra Cabinet has approved splitting of Ratnagiri Gas & Power into two power and gas terminal entities--Ratnagiri Power Co and Ratnagiri LNG Co. The World Trade Organisation's appellate body upheld the ruling of a WTO panel which stated India's power purchase agreements with solar firms were inconsistent with international norms. SunEdison is set to sell its entire Indian portfolio to Greenko for an enterprise valuation of $315 mln.
* FINANCE: The Pension Fund Regulatory and Development Authority issued a request for proposal for the appointment of pension fund managers for private sector National Pension System. The government is readying for a massive crackdown on black money once the Income Declaration Scheme ends on Sep 30.
* FMCG: Baba Ramdev's Patanjali Yogpeeth will set up a food and herbal park in Nepal.
* INFRASTRUCTURE: The government plans to launch a bidding process to monetise National Highways Authority of India's road assets worth 700 bln rupees next month.
* INSURANCE: The Insurance Regulatory Development Authority is expected to approve, by January, a proposal for allowing foreign reinsurance companies to set up a branch in India.
* PHARMACEUTICALS: A United Nations panel has urged the use of flexibility under Trade Related Aspects of Intellectual Property Rights which provides for leeway to middle- and low-income countries on imposing patents on medicines. The National Pharmaceutical Pricing Authority has cut the ceiling price of 18 more drugs by up to 23%. The government is planning to set up eight mini drug-testing laboratories at major ports and airports to monitor the quality of imported and exported drugs, health ministry officials have said. The NITI Aayog has proposed massive changes to the process of giving approvals in the pharmaceutical and medical research sector in order to encourage investment.
* REAL ESTATE: Teva Pharmaceutical Industries has inked a deal for 125,000 sq ft office space for lease in OBEROI REALTY'S commercial complex in the Goregaon suburb of Mumbai. A group of US-based investors plan to sell stake in First International Finance Centre for around 15 bln rupees.
* TELECOM: Virtual network operators, or telecom service resellers, are better placed now to enable
telecom service providers utilise network capacity and share infrastructure, Department of
Telecommunications Secretary J.S. Deepak said. A special Central Bureau of Investigation court dealing with second generation scam cases has held that it has the jurisdiction to hear the Aircel-Maxis case.
