Today's Sector News – 11.07.2019
* ECONOMY: Chief Statistician Pravin Srivastava said efforts were being made to improve quality of official data following intense criticism of the credibility of the Central Statistics Office.
* INFORMATION TECHNOLOGY: Gartner Inc has cut its forecast for growth in spending on technology globally to 0.6% in 2019 from 1.1% estimated earlier.
* INFRASTRUCTURE: The Union Cabinet approved the launch of the third phase of the Pradhan Mantri Gram Sadak Yojana, with an estimated cost of 802.50 bln rupees, covering 125,000 km of roads. The National Highways Authority of India is working towards raising 750 bln rupees through market borrowings to fund its highway and road projects in 2019-20 (Apr-Mar), said Chairman Nagendra Nath Sinha.
* METALS: Prices of iron ore are expected to fall 25% from the current levels amid weakening of demand and enhanced supply.
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* INFORMATION TECHNOLOGY: Gartner Inc has cut its forecast for growth in spending on technology globally to 0.6% in 2019 from 1.1% estimated earlier.
* INFRASTRUCTURE: The Union Cabinet approved the launch of the third phase of the Pradhan Mantri Gram Sadak Yojana, with an estimated cost of 802.50 bln rupees, covering 125,000 km of roads. The National Highways Authority of India is working towards raising 750 bln rupees through market borrowings to fund its highway and road projects in 2019-20 (Apr-Mar), said Chairman Nagendra Nath Sinha.
* METALS: Prices of iron ore are expected to fall 25% from the current levels amid weakening of demand and enhanced supply.
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