SECTORS NEWS TODAY – 03.10.2016
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* COMMODITIES: The Centre has asked Uttar Pradesh to take action against sugar companies that are yet to clear cane arrears for this season. The Securities and Exchange Board of India said the
development of commodity derivatives market will take much longer than expected and the regulator will take a cautious approach in opening of the market.
SEBI is aware of problems that could arise from regulatory arbitrage when foreign commodity exchanges start operating from the Gujarat International Finance Tec-City.
* CORPORATE: SEBI confirmed its interim order banning 20 entities for tax evasion and money
laundering besides misusing stock exchange mechanism.
* ECONOMY: India's total external debt at the end of June stood at $479.7 bln, down $5.4 bln, or 1.1%, from a quarter ago, according to the Reserve Bank of India. Employees' Provident Fund Organisation will launch a host of Aadhar-linked online services such as provident fund withdrawal and pension fixation schemes for its subscribers by March-end.
The government has so far collected 652.50 bln rupees under the Income Declaration Scheme 2016, in which 64,275 declarants have disclosed undeclared income and assets, Finance Minister Arun Jaitley said.
* ENERGY: The Centre has cut the price of domestically produced natural gas to $2.50 per mBtu for OctMar from $3.06 per mBtu in Apr-Sep on gross calorific value basis. Several state electricity regulators have sought an overhaul of the current subsidy regime in the power sector.
* FINANCE: Power Minister Piyush Goyal said 1.67 trln rupees worth of bonds have been issued under the Ujjwal Discom Assurance Yojana till date in financial year 2016-17.
* INFRASTRUCTURE: The Maharashtra government will invite bids for development of three more smart cities--Amravati, Aurangabad and Nashik--within three months.
* MINING: The government is working on a plan to find new reserves of minerals which have a high
potential for domestic production to replace expensive imports and can be used under the Make in India programme.
* TELECOM: The Telecom Regulatory Authority of India is examining complaints registered by existing operators against the new entrant Reliance Jio Infocomm, that it violated rules by giving free offers.
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* COMMODITIES: The Centre has asked Uttar Pradesh to take action against sugar companies that are yet to clear cane arrears for this season. The Securities and Exchange Board of India said the
development of commodity derivatives market will take much longer than expected and the regulator will take a cautious approach in opening of the market.
SEBI is aware of problems that could arise from regulatory arbitrage when foreign commodity exchanges start operating from the Gujarat International Finance Tec-City.
* CORPORATE: SEBI confirmed its interim order banning 20 entities for tax evasion and money
laundering besides misusing stock exchange mechanism.
* ECONOMY: India's total external debt at the end of June stood at $479.7 bln, down $5.4 bln, or 1.1%, from a quarter ago, according to the Reserve Bank of India. Employees' Provident Fund Organisation will launch a host of Aadhar-linked online services such as provident fund withdrawal and pension fixation schemes for its subscribers by March-end.
The government has so far collected 652.50 bln rupees under the Income Declaration Scheme 2016, in which 64,275 declarants have disclosed undeclared income and assets, Finance Minister Arun Jaitley said.
* ENERGY: The Centre has cut the price of domestically produced natural gas to $2.50 per mBtu for OctMar from $3.06 per mBtu in Apr-Sep on gross calorific value basis. Several state electricity regulators have sought an overhaul of the current subsidy regime in the power sector.
* FINANCE: Power Minister Piyush Goyal said 1.67 trln rupees worth of bonds have been issued under the Ujjwal Discom Assurance Yojana till date in financial year 2016-17.
* INFRASTRUCTURE: The Maharashtra government will invite bids for development of three more smart cities--Amravati, Aurangabad and Nashik--within three months.
* MINING: The government is working on a plan to find new reserves of minerals which have a high
potential for domestic production to replace expensive imports and can be used under the Make in India programme.
* TELECOM: The Telecom Regulatory Authority of India is examining complaints registered by existing operators against the new entrant Reliance Jio Infocomm, that it violated rules by giving free offers.
