SECTORS ALERT – 11.06.2014
* AGRICULTURE: India Meteorological Department said Jun 1-10 rainfall
was 20.6 mm, 43% below normal, and Jun 10 rainfall was 2.9 mm, 32% below
normal.
* BANKING: Loss-making CKP Co-operative Bank, which is currently run
under an administrator appointed by the Reserve Bank of India, is attracting
interest from two prospective investors.
* ECONOMY: Terming sub-5% growth rate in the last two years as
"disappointing", Finance Minister Arun Jaitley said reviving the economy was
a major challenge for the new government. Finance Minister Jaitley said
restoring economic growth; curbing inflation and attaining fiscal consolidation
will be the priorities of government.
* ENERGY: The government may tweak the formula suggested by the
Rangarajan committee, to end controversies around the impending increase in
price of domestic natural gas.
* FINANCE: IL&FS has begun talks with International Finance Corp to sell a
minority stake in the company, and seek loans for a $5-bln infrastructure debt
fund that it plans to raise.
* GOVERNMENT: Has decided to reconstitute three Cabinet committees on
economic affairs, parliamentary affairs and political affairs and to discontinue
four cabinet panels.
* MINING: The Confederation of Indian Industry has requested the
government to allow transfer of mining licences by creating a market for them,
and also sought seamless clearances from one mining stage to another.
Supreme Court-appointed panel investigating Odisha iron ore and manganese
mining illegalities has disagreed with the state's decision to claim a market
rate of all ore mined in excess of permits.
* ROADS: The ministry of road transport and highways wants the share of
public private partnership projects, awarded by National Highways Authority
of India, to be brought down to 30% from 48%.
* REGULATORY: The Securities & Exchange Board of India has urged the
finance ministry not to tax investors when they buy stocks.
* RETAIL: French retailer Carrefour SA is planning to invest 1.45 bln rupees
in its arm India Carrefour.
* TAX: Maharashtra Chief Minister Prithviraj Chavan has asked mayors to
take feedback from traders on the two options proposed by the state--either the
local body tax be collected by the sales tax department or revert to the octroi
regime.
* AGRICULTURE: India Meteorological Department said Jun 1-10 rainfall
was 20.6 mm, 43% below normal, and Jun 10 rainfall was 2.9 mm, 32% below
normal.
* BANKING: Loss-making CKP Co-operative Bank, which is currently run
under an administrator appointed by the Reserve Bank of India, is attracting
interest from two prospective investors.
* ECONOMY: Terming sub-5% growth rate in the last two years as
"disappointing", Finance Minister Arun Jaitley said reviving the economy was
a major challenge for the new government. Finance Minister Jaitley said
restoring economic growth; curbing inflation and attaining fiscal consolidation
will be the priorities of government.
* ENERGY: The government may tweak the formula suggested by the
Rangarajan committee, to end controversies around the impending increase in
price of domestic natural gas.
* FINANCE: IL&FS has begun talks with International Finance Corp to sell a
minority stake in the company, and seek loans for a $5-bln infrastructure debt
fund that it plans to raise.
* GOVERNMENT: Has decided to reconstitute three Cabinet committees on
economic affairs, parliamentary affairs and political affairs and to discontinue
four cabinet panels.
* MINING: The Confederation of Indian Industry has requested the
government to allow transfer of mining licences by creating a market for them,
and also sought seamless clearances from one mining stage to another.
Supreme Court-appointed panel investigating Odisha iron ore and manganese
mining illegalities has disagreed with the state's decision to claim a market
rate of all ore mined in excess of permits.
* ROADS: The ministry of road transport and highways wants the share of
public private partnership projects, awarded by National Highways Authority
of India, to be brought down to 30% from 48%.
* REGULATORY: The Securities & Exchange Board of India has urged the
finance ministry not to tax investors when they buy stocks.
* RETAIL: French retailer Carrefour SA is planning to invest 1.45 bln rupees
in its arm India Carrefour.
* TAX: Maharashtra Chief Minister Prithviraj Chavan has asked mayors to
take feedback from traders on the two options proposed by the state--either the
local body tax be collected by the sales tax department or revert to the octroi
regime.
