Daily Sector News Today – 16.10.2017
* BANKING: The finance ministry is working on capital infusion strategy for the public sector banks and it is expected to be finalised by December, .
* COMMODITY: The Tea Board has proposed a 1-bln-rupee relief package for tea estates in the
Darjeeling hills, where production has resumed after nearly three months of shutdown due to an
agitation for a separate state.
* ECONOMY: The government may miss the net Budget direct tax collection target of 9.8 trln rupees in the current financial year ending March, as refunds are likely to rise in the second half, a finance
ministry official said. The Pension Fund Regulatory and Development Authority is in talks with the government to renew the Centre's co-contribution in the Atal Pension Yojana, PFRDA Chairman Hemant Contractor said. The International Monetary Fund has said India's monetary policy should have a "tightening bias" given that inflation expectations are high in comparison to the inflation target.The Department of Investment and Public Asset Management invited expressions of interest to sell 51% stake in Pawan Hans, and its entire stake in Projects and Development India, according to government notifications.
* FINANCE: The Inland Waterways Authority of India has raised 6.60 bln rupees as government of
India fully serviced bonds.
* HOSPITALITY: The Tatas are preparing to bid aggressively for the Taj Mansingh hotel as the New
Delhi Municipal Council plans to fix the terms of reference and the date of auction at a crucial meeting on Monday, .
* INFRASTRUCTURE: Prime Minister Narendra Modi laid the foundation stone for 37-bln-rupee
infrastructure projects in Bihar on Saturday, the government said.
* METALS: The government raised the base import price of gold by $2 to $415 per 10 gm, and that of silver by $13 to $554 a kg, according to a notice from the Central Board of Excise and Customs.
* POWER: The government is planning to auction 4,500 MW wind projects in the next four months to upscale the wind capacity addition in the country, .
* TELECOMMUNICATION: Cellular Operators Association of India has favoured a steep hike in
international termination charges to 3.50 rupees per minute against 0.53 rupee per minute at present.
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* COMMODITY: The Tea Board has proposed a 1-bln-rupee relief package for tea estates in the
Darjeeling hills, where production has resumed after nearly three months of shutdown due to an
agitation for a separate state.
* ECONOMY: The government may miss the net Budget direct tax collection target of 9.8 trln rupees in the current financial year ending March, as refunds are likely to rise in the second half, a finance
ministry official said. The Pension Fund Regulatory and Development Authority is in talks with the government to renew the Centre's co-contribution in the Atal Pension Yojana, PFRDA Chairman Hemant Contractor said. The International Monetary Fund has said India's monetary policy should have a "tightening bias" given that inflation expectations are high in comparison to the inflation target.The Department of Investment and Public Asset Management invited expressions of interest to sell 51% stake in Pawan Hans, and its entire stake in Projects and Development India, according to government notifications.
* FINANCE: The Inland Waterways Authority of India has raised 6.60 bln rupees as government of
India fully serviced bonds.
* HOSPITALITY: The Tatas are preparing to bid aggressively for the Taj Mansingh hotel as the New
Delhi Municipal Council plans to fix the terms of reference and the date of auction at a crucial meeting on Monday, .
* INFRASTRUCTURE: Prime Minister Narendra Modi laid the foundation stone for 37-bln-rupee
infrastructure projects in Bihar on Saturday, the government said.
* METALS: The government raised the base import price of gold by $2 to $415 per 10 gm, and that of silver by $13 to $554 a kg, according to a notice from the Central Board of Excise and Customs.
* POWER: The government is planning to auction 4,500 MW wind projects in the next four months to upscale the wind capacity addition in the country, .
* TELECOMMUNICATION: Cellular Operators Association of India has favoured a steep hike in
international termination charges to 3.50 rupees per minute against 0.53 rupee per minute at present.
