SECTORS ALERT – 08.07.2014
* AGRICULTURE: The southwest monsoon continued to be weak with the
country receiving 6.3 mm of rainfall, 28% below the normal weighted average of
8.8 mm.
* COAL: Coal Minister Piyush Goyal said the government has no plans to set up
an independent pricing authority for coal.
* GEM & JEWELLERY: RBI has announced easing of norms for lending for import
of rough, cut and polished diamonds.
* GOVERNMENT: Food Corp of India has sought 100 bln rupees more under
Ways and Means Advances from the government in the current financial
year. The Centre has approved minimum pension of 1,000 rupees per month
under Employees' Pension of Scheme 1995 run by the Employees' Provident
Fund Organisation.
* INSURANCE: Agriculture Minister Radha Mohan Singh has written to all chief
ministers inviting suggestions to evolve a suitable insurance product for farmers.
* INFRASTUCTURE: Ministry of Civil Aviation may tweak norms to allow
greenfield airports to be developed within 150-km radius of existing
ones. Airports Economic Regulatory Authority says airport builders are "gold
plating" airports with unnecessary and expensive fittings.
* INTERNATIONAL: BRICS nations to formally announce the setting up of a
$100-bln fund, which will help member nations tide over a current account deficit
crisis. Deals worth 380 bln rupees were signed between India and the UK on
Monday.
* LAW: The Centre plans to amend the Factories Act, 1948, in a bid to revamp
labour laws.
* RETAIL: Carrefour, the world's second-largest retailer, has decided to exit
India, less than four years after it opened its first store in the country.
* STATES: The Telangana cabinet expansion will be completed by this month-end Chief Minister K. Chandrasekhar said. The Maharashtra government has put
on hold its decision to delist onions and potatoes from agricultural produce
market committees.
* TECHNOLOGY: The government has set up an inter-ministerial group to
examine the potential of Global Positioning System-Aided Augmented Navigation
for use in non-aviation sectors.
* TELECOM: Vodafone Group is hoping the government will either reverse the
2012 retroactive amendment to income tax laws or make it prospective in the
budget. Department of Telecommunications will implement 21 pending policy
issues including the merger of Bharat Sanchar Nigam and Mahanagar Telephone
Nigam.
* TOURISM: Foreign tourist arrivals in India rose 9% on year to 0.492 mln in
June.
* AGRICULTURE: The southwest monsoon continued to be weak with the
country receiving 6.3 mm of rainfall, 28% below the normal weighted average of
8.8 mm.
* COAL: Coal Minister Piyush Goyal said the government has no plans to set up
an independent pricing authority for coal.
* GEM & JEWELLERY: RBI has announced easing of norms for lending for import
of rough, cut and polished diamonds.
* GOVERNMENT: Food Corp of India has sought 100 bln rupees more under
Ways and Means Advances from the government in the current financial
year. The Centre has approved minimum pension of 1,000 rupees per month
under Employees' Pension of Scheme 1995 run by the Employees' Provident
Fund Organisation.
* INSURANCE: Agriculture Minister Radha Mohan Singh has written to all chief
ministers inviting suggestions to evolve a suitable insurance product for farmers.
* INFRASTUCTURE: Ministry of Civil Aviation may tweak norms to allow
greenfield airports to be developed within 150-km radius of existing
ones. Airports Economic Regulatory Authority says airport builders are "gold
plating" airports with unnecessary and expensive fittings.
* INTERNATIONAL: BRICS nations to formally announce the setting up of a
$100-bln fund, which will help member nations tide over a current account deficit
crisis. Deals worth 380 bln rupees were signed between India and the UK on
Monday.
* LAW: The Centre plans to amend the Factories Act, 1948, in a bid to revamp
labour laws.
* RETAIL: Carrefour, the world's second-largest retailer, has decided to exit
India, less than four years after it opened its first store in the country.
* STATES: The Telangana cabinet expansion will be completed by this month-end Chief Minister K. Chandrasekhar said. The Maharashtra government has put
on hold its decision to delist onions and potatoes from agricultural produce
market committees.
* TECHNOLOGY: The government has set up an inter-ministerial group to
examine the potential of Global Positioning System-Aided Augmented Navigation
for use in non-aviation sectors.
* TELECOM: Vodafone Group is hoping the government will either reverse the
2012 retroactive amendment to income tax laws or make it prospective in the
budget. Department of Telecommunications will implement 21 pending policy
issues including the merger of Bharat Sanchar Nigam and Mahanagar Telephone
Nigam.
* TOURISM: Foreign tourist arrivals in India rose 9% on year to 0.492 mln in
June.
