Daily Sector News Today – 21.12.2017
* AUTOMOBILE: Hyundai Motor India will raise the prices of its cars by up to 2% in January due to rising input costs.
* ECONOMY: At their meeting on Dec 5-6, members of the Reserve Bank of India's Monetary Policy Committee were concerned about rising crude oil prices, and saw upside risks to their forecast for headline retail inflation.
* RAILWAY: Indian Railways will spend nearly 12 bln rupees installing bio-toilets in all coaches by March 2019.
* REGULATORY: According to a tweet by a government spokesperson, the Cabinet has approved the introduction of Consumer Protection Bill, 2017. The Securities and Exchange Board of India has raised the investment limit for foreign portfolio investment in central government securities to over 1.91 trln from next month.
* STEEL: Bankers to Essar Steel may consider extending the deadline for signing binding agreements with resolution applicants when it meets next week.
* TAXATION: The government is waiting for data on goods and services tax collections for November before reviewing the fiscal deficit situation. Society of Indian Automobile Manufacturers has urged the government to bring down the rate of goods and services tax levied on electrical vehicles to 5% from 12% at present.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India will "quickly" evolve a mechanism for telecommunication companies that are closing down services or operations to return the unused balance of pre-paid customers.
* TEXTILE: The Union Cabinet has approved a three-year skill development plan with a capital outlay of 13 bln rupees.
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* ECONOMY: At their meeting on Dec 5-6, members of the Reserve Bank of India's Monetary Policy Committee were concerned about rising crude oil prices, and saw upside risks to their forecast for headline retail inflation.
* RAILWAY: Indian Railways will spend nearly 12 bln rupees installing bio-toilets in all coaches by March 2019.
* REGULATORY: According to a tweet by a government spokesperson, the Cabinet has approved the introduction of Consumer Protection Bill, 2017. The Securities and Exchange Board of India has raised the investment limit for foreign portfolio investment in central government securities to over 1.91 trln from next month.
* STEEL: Bankers to Essar Steel may consider extending the deadline for signing binding agreements with resolution applicants when it meets next week.
* TAXATION: The government is waiting for data on goods and services tax collections for November before reviewing the fiscal deficit situation. Society of Indian Automobile Manufacturers has urged the government to bring down the rate of goods and services tax levied on electrical vehicles to 5% from 12% at present.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India will "quickly" evolve a mechanism for telecommunication companies that are closing down services or operations to return the unused balance of pre-paid customers.
* TEXTILE: The Union Cabinet has approved a three-year skill development plan with a capital outlay of 13 bln rupees.
