Today's Sector News - 19.08.2019: 09.00 Am
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* AUTOMOBILE: Hyundai Motor India announces "no production days" this month at its Sriperumbudur facility, near Chennai, due to the prevailing market conditions.
* AVIATION: The aviation ministry has formed a committee to rationalise additional taxes that airlines have to pay while uplifting Air Turbine Fuel at airports across India.
* COMMODITIES: A committee on structural reforms in farming has called for restricted use of genetically modified oilseeds, and suggested amending the Essential Commodities Act to protect farm prices from falling. Finance Minister Nirmala Sitharaman hinted that there is no need to subsidise import duty on gold.
* ECONOMY: The government's Make in India initiative has failed to create enough jobs as companies across sectors still prefer to import goods instead of manufacturing locally, larsen & Toubro Chairman A.M. Naik said.
* POWER: Electricity generation in India increased 5.5% on year to 108.37 bln kWh in July, up from 8.6% growth the previous month.
* REGULATORY: The Securities and Exchange Board of India has rejected ICRA's settlement application in the matter of ratings agencies not having given warning of the IL&FS default in September in the Infrastructure Leasing & Financial Services case.
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