Today Stock News – 11.09.2018
* AUTOMOBILE: Toyota Motor Corp's luxury vehicle arm, Lexus, has launched a hybrid version of its electric car ES 300h in India, priced at 5.91 mln rupees.
-The Prime Minister's Office has sought reworking of a proposal to offer incentives of as much as 55 bln rupees for electric cars as it wants to use most of the funds to encourage local manufacturing of lithium-ion batteries, which form the core of such vehicles.
* COMMODITIES: The government is considering to mandate mills across the country to export 3-4 mln tn sugar under the Minimum Indicative Export Quantity scheme for the 2018-19 (Oct-Sep) season to flush out likely surplus and also to support domestic prices, senior food ministry officials said.
* ECONOMY: The government expects at least half of the Jan Dhan accounts to avail the overdraft facility for 2,000 rupees with no conditions attached, a source said, that would translate to a 320-bln-rupee booster shot for the economy.
* FAST MOVING CONSUMER GOODS: The National Green Tribunal has directed the departments
concerned to conduct an inspection of beverage maker Parle Agro unit in Uttar Pradesh to ascertain whether the industry is releasing mercury beyond the permissible limit.
* INFORMATION TECHNOLOGY: Google Inc has agreed to abide by all the conditions of the Indian government, including the Reserve Bank of India's digital payment norms.
* OIL AND GAS: The Centre's fiscal situation means there is barely any room for the government to cut the excise duty on petrol and diesel, a senior finance ministry official said.
A day after Rajasthan cut value added tax on petrol and diesel by 4%, Andhra Pradesh has announced a 2- rupee per ltr reduction in cess on petrol and diesel.
The oil ministry is considering redefining 'arm's length sale' for oil and gas contracts to include sale to an affiliate, which would allow a producer to sell its output to a related party.
The government is likely to sign on Sep 24 contracts for 55 oil and gas exploration areas awarded under India's maiden open acreage auction Open Acreage Licensing Policy-1.
* PHARMACEUTICALS: Two members of a parliamentary panel that recommended an overhaul of India's Central Drugs Standard Control Organisation six years ago have accused the regulator of failing to perform its duty to safeguard patients in the Johnson & Johnson hip replacement case.
* POWER: The Madras High Court has granted interim reprieve to two private power companies by staying insolvency proceedings against their stressed assets.
* RAILWAYS: The Indian Railways has decided to build 100 additional barracks at key location for the Railway Protection Force in order to step up security for both passengers and rail property.
* STEEL: India has turned down a Donald Trump administration offer to waive tariff hikes on steel and aluminium in exchange for India capping exports of these items at 70% of its total exports to the US last year.
* TAXATION: The Finance Ministry has extended the last date for filing final sales return GSTR-1 for July 2017 to September 2018 period till Oct 31 and also waived the late fee for the delayed filing of returns.
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-The Prime Minister's Office has sought reworking of a proposal to offer incentives of as much as 55 bln rupees for electric cars as it wants to use most of the funds to encourage local manufacturing of lithium-ion batteries, which form the core of such vehicles.
* COMMODITIES: The government is considering to mandate mills across the country to export 3-4 mln tn sugar under the Minimum Indicative Export Quantity scheme for the 2018-19 (Oct-Sep) season to flush out likely surplus and also to support domestic prices, senior food ministry officials said.
* ECONOMY: The government expects at least half of the Jan Dhan accounts to avail the overdraft facility for 2,000 rupees with no conditions attached, a source said, that would translate to a 320-bln-rupee booster shot for the economy.
* FAST MOVING CONSUMER GOODS: The National Green Tribunal has directed the departments
concerned to conduct an inspection of beverage maker Parle Agro unit in Uttar Pradesh to ascertain whether the industry is releasing mercury beyond the permissible limit.
* INFORMATION TECHNOLOGY: Google Inc has agreed to abide by all the conditions of the Indian government, including the Reserve Bank of India's digital payment norms.
* OIL AND GAS: The Centre's fiscal situation means there is barely any room for the government to cut the excise duty on petrol and diesel, a senior finance ministry official said.
A day after Rajasthan cut value added tax on petrol and diesel by 4%, Andhra Pradesh has announced a 2- rupee per ltr reduction in cess on petrol and diesel.
The oil ministry is considering redefining 'arm's length sale' for oil and gas contracts to include sale to an affiliate, which would allow a producer to sell its output to a related party.
The government is likely to sign on Sep 24 contracts for 55 oil and gas exploration areas awarded under India's maiden open acreage auction Open Acreage Licensing Policy-1.
* PHARMACEUTICALS: Two members of a parliamentary panel that recommended an overhaul of India's Central Drugs Standard Control Organisation six years ago have accused the regulator of failing to perform its duty to safeguard patients in the Johnson & Johnson hip replacement case.
* POWER: The Madras High Court has granted interim reprieve to two private power companies by staying insolvency proceedings against their stressed assets.
* RAILWAYS: The Indian Railways has decided to build 100 additional barracks at key location for the Railway Protection Force in order to step up security for both passengers and rail property.
* STEEL: India has turned down a Donald Trump administration offer to waive tariff hikes on steel and aluminium in exchange for India capping exports of these items at 70% of its total exports to the US last year.
* TAXATION: The Finance Ministry has extended the last date for filing final sales return GSTR-1 for July 2017 to September 2018 period till Oct 31 and also waived the late fee for the delayed filing of returns.
