Today's Sector News – 06.03.2019
* AVIATION: The board of directors of Air India will meet on Friday to consider raising up to 70 bln rupees through bonds to be issued on a private placement basis.
-The Wadia group-promoted GoAir has been operating with curtailed capacity as seven of its planes,
including three A320 Neos, have been unoperational for the past two-three weeks due to major repair work.
* BANKING: National Housing Bank has proposed changes to the rules pertaining to capital adequacy and borrowing limit for housing finance companies noting the considerable evolvement of their size and operations.
* CEMENT: Cement companies with significant market presence in Andhra Pradesh have been asked to ensure uninterrupted supply for ongoing infrastructure projects in the state, said Y. Ramakrishnudu, state minister for finance.
* ECONOMY: India has signed a $250-mln loan agreement with the World Bank to boost rural income in 13 states.
* OIL AND GAS: The Odisha government on Tuesday cleared a Haldia Petrochemicals' proposal to invest 287 bln rupees to set up an integrated refinery and petrochem facility in Balasore.
* TAXATION: Gratuity income up to 2 mln rupees is exempt from tax, Finance Minister Arun Jaitley
clarified. The government had earlier doubled the ceiling on gratuity to 2 mln rupees.
-The Wadia group-promoted GoAir has been operating with curtailed capacity as seven of its planes,
including three A320 Neos, have been unoperational for the past two-three weeks due to major repair work.
* BANKING: National Housing Bank has proposed changes to the rules pertaining to capital adequacy and borrowing limit for housing finance companies noting the considerable evolvement of their size and operations.
* CEMENT: Cement companies with significant market presence in Andhra Pradesh have been asked to ensure uninterrupted supply for ongoing infrastructure projects in the state, said Y. Ramakrishnudu, state minister for finance.
* ECONOMY: India has signed a $250-mln loan agreement with the World Bank to boost rural income in 13 states.
* OIL AND GAS: The Odisha government on Tuesday cleared a Haldia Petrochemicals' proposal to invest 287 bln rupees to set up an integrated refinery and petrochem facility in Balasore.
* TAXATION: Gratuity income up to 2 mln rupees is exempt from tax, Finance Minister Arun Jaitley
clarified. The government had earlier doubled the ceiling on gratuity to 2 mln rupees.
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