Today's Sector View – 18.01.2019
* AUTOMOBILES: Volkswagen India said it will deposit 1 bln rupees of the total 1.71-bln-rupee fine by Friday, as ordered by the National Green Tribunal. Honda Cars India will increase prices of the CR-V model by 10,000 rupees and of other models by up to 7,000 rupees, effective Feb 1.
* AVIATION: The Ministry of Civil Aviation has proposed allowing 100% foreign direct investment under the automatic route for drone services in the country, to give an impetus to the domestic sunrise industry.
* CORPORATE: To reduce the litigation period for companies referred to the National Company Law Tribunal, the government is considering introducing procedure of "deemed admission", Injeti Srinivas, the corporate affairs secretary, said at an event.
* ECONOMY: Finance Minister Arun Jaitley has hinted that the government will stick to presenting Interim Budget in an election year, but is not averse to announcing new schemes, unlike the convention.
* OIL AND GAS: The government has, for the second time, deferred the deadline for submission of bids in the auction of 25 oil and gas fields that hold resources worth an estimated 1 trln rupees.
The Organization of the Petroleum Exporting Countries has trimmed 2019 demand estimate for its oil by 60,000 barrels per day to 30.8 mln bpd.
* PHARMACEUTICAL: The government has banned 80 more fixed-dose combination drugs which include antibiotics, painkillers, medicines used for treating infections etc.
* AVIATION: The Ministry of Civil Aviation has proposed allowing 100% foreign direct investment under the automatic route for drone services in the country, to give an impetus to the domestic sunrise industry.
* CORPORATE: To reduce the litigation period for companies referred to the National Company Law Tribunal, the government is considering introducing procedure of "deemed admission", Injeti Srinivas, the corporate affairs secretary, said at an event.
* ECONOMY: Finance Minister Arun Jaitley has hinted that the government will stick to presenting Interim Budget in an election year, but is not averse to announcing new schemes, unlike the convention.
* OIL AND GAS: The government has, for the second time, deferred the deadline for submission of bids in the auction of 25 oil and gas fields that hold resources worth an estimated 1 trln rupees.
The Organization of the Petroleum Exporting Countries has trimmed 2019 demand estimate for its oil by 60,000 barrels per day to 30.8 mln bpd.
* PHARMACEUTICAL: The government has banned 80 more fixed-dose combination drugs which include antibiotics, painkillers, medicines used for treating infections etc.
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