Today Sector News – 03.12.2018
* AUTOMOBILE: Ford India's total sales fell 26.3% on year to 19,905 units in November.
* AVIATION: Despite fiscal constraints, the Centre is likely to provide 122 bln rupees from the Budget - half of it this fiscal and the balance in the next year - to retire 40% of the 300 bln rupees working capital debt of Air India. The government today launched online drone registration portal 'DigitalSky'.
* COMMODITIES: The area under rabi crops across the country so far is at 35.5 mln ha, down 8.3% from a year ago. The government has restricted sugar sales by mills in the country at 1.95 mln tn for December to trim supply in the market.
* FINANCE: IL&FS Financial Services was unable to service its obligations in respect of interest on cash credit of 47.1 mln rupees and short-term loans of 7.5 mln rupees due Friday and interest on term loans of 529.5 mln rupees due on Saturday.Despite investor interest, sale of road projects is going to be a complex task for the crisis-hit IL&FS Group, which is monetising its assets to get out of the financial mess.
* NON-BANKING FINANCE COMPANIES: NBFC's are borrowing at a faster pace from banks, as the contagion from defaults on debt repayment by Infrastructure Leasing & Financial Services has made short-term market costlier for them.
* OIL AND GAS: Saudi Arabia has offered to supply oil and petroleum products to India to help the latter meet all its energy requirements.
* REAL ESTATE: Maharashtra government plans to invite financial institutions to participate in the Dharavi redevelopment project in equity financing mode, Chief Minister Devendra Fadnavis said.
* TAXATION: The central government's tax collections contracted 4.5% on year to 1.333 trln rupees in October, primarily on account of lower goods and services tax collections during the month.
- After crossing the 1-trln-rupee mark in October, the government's total collections under the goods and services tax fell to 976.37 bln rupees in November.
* TELECOMMUNICATION: The government has advised telecommunication and airline companies, which have for long sought relief from the Centre to revive their operations, to end the price war and go for a rational hike in rates.
- WhatsApp management has written to the Reserve Bank of India, seeking a formal nod to expand payments services to all its 200 mln users in India.
CLICK HERE
*********************************************************************************
* AVIATION: Despite fiscal constraints, the Centre is likely to provide 122 bln rupees from the Budget - half of it this fiscal and the balance in the next year - to retire 40% of the 300 bln rupees working capital debt of Air India. The government today launched online drone registration portal 'DigitalSky'.
* COMMODITIES: The area under rabi crops across the country so far is at 35.5 mln ha, down 8.3% from a year ago. The government has restricted sugar sales by mills in the country at 1.95 mln tn for December to trim supply in the market.
* FINANCE: IL&FS Financial Services was unable to service its obligations in respect of interest on cash credit of 47.1 mln rupees and short-term loans of 7.5 mln rupees due Friday and interest on term loans of 529.5 mln rupees due on Saturday.Despite investor interest, sale of road projects is going to be a complex task for the crisis-hit IL&FS Group, which is monetising its assets to get out of the financial mess.
* NON-BANKING FINANCE COMPANIES: NBFC's are borrowing at a faster pace from banks, as the contagion from defaults on debt repayment by Infrastructure Leasing & Financial Services has made short-term market costlier for them.
* OIL AND GAS: Saudi Arabia has offered to supply oil and petroleum products to India to help the latter meet all its energy requirements.
* REAL ESTATE: Maharashtra government plans to invite financial institutions to participate in the Dharavi redevelopment project in equity financing mode, Chief Minister Devendra Fadnavis said.
* TAXATION: The central government's tax collections contracted 4.5% on year to 1.333 trln rupees in October, primarily on account of lower goods and services tax collections during the month.
- After crossing the 1-trln-rupee mark in October, the government's total collections under the goods and services tax fell to 976.37 bln rupees in November.
* TELECOMMUNICATION: The government has advised telecommunication and airline companies, which have for long sought relief from the Centre to revive their operations, to end the price war and go for a rational hike in rates.
- WhatsApp management has written to the Reserve Bank of India, seeking a formal nod to expand payments services to all its 200 mln users in India.
