Today's News in Media - 20-08-2016
Ftapcci Hyd
Dear all,
INFORMATION TECHNOLOGY
TRAI moots spectrum usage charge for small ISPs
In a move that would hit broadband users of smaller internet
service providers (ISP), the Telecom Regulatory Authority of India (TRAI) has
started a debate on whether to impose spectrum usage charge on ISPs which
operate on airwaves allocated administratively. Currently, ISPs pay a flat fee
of around Rs. 3.5 lakh per year for using 5MHz of
spectrum. If TRAI imposes usage charges, the operators will have to cough up a
fee based on their annual revenues.This would mean players such as YOU
Broadband, Siti and Hathway would have to pay a higher fee for using spectrum.
Until now, specturm usage charge had been imposed only on telecom companies,
which got spectrum either bundled through the licence or through an auction.
http://www.thehindubusinessline.com/todays-paper/trai-moots-spectrum-usage-charge-for-small-isps/article9009097.ece
GST
SEZ, foreign trade laws to be made GST-compliant
The Centre may have to make necessary changes in legislations
relating to SEZs (Special Economic Zones) and foreign trade to make them
compliant with the Goods and Services Tax (GST) regime, Rita A Teaotia,
Commerce Secretary, said here on Friday.Considered to be country’s
biggest ever indirect tax reform, the GST framework has already been passed by
Parliament.“Suitable changes will have to be made in the SEZ and Foreign
Trade Acts to make them compliant with the GST. Many DGFT schemes will also
have to be moderated as well,” she said on the sidelines of an event
organised by the Confederation of Indian Industry (CII).“The GST council
will take a lot of decisions and the final contours will come up then,”
she added. According to her, the government has engaged some legal experts to
study the implications of GST on exports. “We will examine the need for a
new SEZ policy later. At this point, what I’m talking about is making our
existing SEZ law consistent with the GST,” the official maintained. She
further said the Centre was committed to zero-rating of exports after
implementation of GST.
http://www.thehindubusinessline.com/todays-paper/tp-news/sez-foreign-trade-laws-to-be-made-gstcompliant/article9009122.ece
Industry chambers seek clarity on model GST law
India Inc on Friday sought clarity on the proposed Goods and
Services Tax and gave its suggestions on the model law for the levy at a
meeting with Revenue Secretary Hasmukh Adhia.The delegation, which included
representatives from industry chambers FICCI and Assocham, raised concerns over
provisions such as dual control over small businesses, exclusion of electricity
and petroleum from GST as well as the proposed GST Council and sought suitable
changes in the Model GST Bill. The meeting was a part of the Finance
Ministry’s move to get industry’s views on the proposed law before
finalising it. In a similar exercise industry chambers will also be meeting the
Empowered Committee of State Finance Ministers on August 30. With a target to
roll out GST from April 1, 2017, Finance Minister Arun Jaitley is hopeful of
the passage of the Centre GST Bill, Integrated GST Bill and State GST Bill by
Parliament and the respective State Assemblies in the Winter
Session.“Provisions which may lead to unwarranted disputes in future may
be given a re-look before finalising the law,” FICCI said in a statement
after the meeting, adding that provisions relating to mandatory pre-deposit for
filing appeals, restrictions imposed on availing input tax credit should also
be reviewed.Similarly, Assocham raised concerns over the non-inclusion of
electricity and petroleum in GST. “Non-inclusion of electricity will lead
to significant economic distortions…Some thinking around zero rating or
concessional taxation under existing law on the inputs for these industries is
warranted,” it said, adding that draft law also needs to look into issues
of real estate sector, such as abatement and input tax credit.
http://www.thehindubusinessline.com/todays-paper/tp-news/industry-chambers-seek-clarity-on-model-gst-law/article9009126.ece
INFRASTRUCTURE
NITI Aayog plans policy push for construction industry
In order to revive the ailing construction sector, NITI Aayog is
set to come out with a series of policy measures to revive the sector and
complete projects.“This policy is at a very advanced stage right now. We
are taking series of measures to give fresh life and support to the construction
sector,” NITI Aayog Chief Executive Officer Amitabh Kant said addressing
a conference organised by real estate body NAREDCO here. The policy, which will
be finalised in 2-3 months, will aim to help debt-laden construction firms get
back in shape. “We have held discussions with construction companies and
financial institutions, we are trying to work around a package which is a
win-win for all — for financial institutions, construction industry and
the government,” Kant said. “There are construction companies with huge
debt…but arbitration awards have gone in their favour. We are going to
assess those companies to ensure that government agencies (with) whom they
worked are able to pay those awards to financial institution directly,”
he added.
http://www.thehindubusinessline.com/todays-paper/tp-news/niti-aayog-plans-policy-push-for-construction-industry/article9009123.ece
India will be third largest construction market globally by 2030:
report
The real estate and construction sector in India is expected to be
the third largest globally by 2030, contributing over 15 per cent to the
country’s GDP, according to a joint report by KPMG and real estate body
Naredco.“The sector is expected to become the largest employer in India
by 2022, providing employment opportunities to over 75 million people,”
the report said.India’s urban population is expected to increase by about
40 per cent from 420 million in 2015 to over 580 million by 2030. According to
the paper, nearly 110 million houses would be required by 2022 in urban as well
as rural India to provide housing to all citizens. This includes the current
shortage of over 60 million houses, out of which around 20 million exist in
urban areas.
http://www.thehindubusinessline.com/todays-paper/tp-news/india-will-be-third-largest-construction-market-globally-by-2030-report/article9009124.ece
INDIA’S GLOBAL RANKING
Centre to set up panel on innovation to improve India’s global
ranking
With India moving up 15 notches in the Global Innovation Index to
the 66th position this year, from 81 in 2015, the government has decided to set
up a panel on innovation to suggest ways to improve the country’s
performance further.The upward movement in ranking has come after five
consecutive years of fall. The country was ranked 62nd in 2011.“We have
to improve our performance for next year's ranking, and by doing this enable
and facilitate an environment for promoting innovation in this country,”
Commerce & Industry Minister Nirmala Sitharaman said at the launch of the
Global Innovation Index (GII) 2016 in New Delhi on Friday.“ We will have
a team to look at the challenges identified and advise the government on which
direction to move to resolve the weaknesses, the Minister added.
http://www.thehindubusinessline.com/todays-paper/tp-news/centre-to-set-up-panel-on-innovation-to-improve-indias-global-ranking/article9009127.ece
EXPORTS
Leather exports fall 10% in FY16
India’s leather exports fell 10 per cent in dollar terms in
2015-16 compared with 2014-15. The industry had achieved a cumulative annual
growth rate of 13 per cent for five years till last fiscal.The fall in leather
exports in FY16 was on account of slowdown in the EU, a major export
destination for Indian leather, with a share of more than 50 per cent of total
exports. Also, currency fluctuations and weak demand in a few other key markets
in Asia impacted exports.In 2015-16, export of leather and leather products
stood at $5.85 billion, against $6.49 billion in the previous fiscal, a 9.86
per cent fall.
http://www.thehindubusinessline.com/todays-paper/tp-news/leather-exports-fall-10-in-fy16/article9009130.ece
BANKING
‘SBI merger will help cut costs, improve productivity’
State Bank of India’s Board has cleared the deck for
the mega merger of five associate banks and Bharatiya Mahila Bank with the
country’s largest lender. The bank now requires approval from the RBI and
the government. Speaking to BTVI , SBI MD Rajnish Kumar says the
intention is to complete the entire merger process by this fiscal year. While
ruling out large-scale lay-off, Kumar outlined the need to improve
productivity, business and profit-per-employee. With SBI undergoing a digital
transformation, the bank expects to bring down the cost-to-income ratio. Maybe
in the next two years, the benefits of synergies will emerge, he says.
http://www.thehindubusinessline.com/todays-paper/tp-news/sbi-merger-will-help-cut-costs-improve-productivity/article9009135.ece
INTERNATIONAL
Chinese vendors drive smartphone sales in India
After witnessing a decline for two successive quarters, smartphone
shipments in the country have picked up thanks to Chinese vendors, including
Xiaomi and Vivo. While shipments of both global and Indian vendor’s
shipments declined in the second quarter of the calender year, Chinese handset
brands saw shipments growing at healthy 75 per cent. A total of 27.5 million
units of smartphones shipments have been reported in the period. This is a
growth of 17.1 per cent over previous quarter and a 3.7 per cent growth over
the corresponding period last year.
http://www.thehindubusinessline.com/todays-paper/tp-info-tech/chinese-vendors-drive-smartphone-sales-in-india/article9009103.ece
AGRICULTURE
Soya, maize, redgram cut into Telangana’s cotton area
Acreage of pulses and coarse grains have gained significantly in
Telangana in the ongoing kharif season, while that of the main crops —
paddy and cotton — have suffered.The area under coarse grains (ragi,
jowar, maize) has gone up to 6.21 lakh hectares (lh) as against the season
normal of 5.58 lh.The area under pulses too has gone up to 6 lh from the season
normal of 4 lh.The area under redgram, soyabean and maize has gone up
significantly as farmers have begun to look at alternatives to cotton. The
redgram area almost doubled to 4 lh from the as-on-date average of 2.29 lh.The
State grows the pulse crop on 2.60 lh on an average in the season. The
greengram area went up to 1.50 lh from the season average area of 1 lh.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/soya-maize-redgram-cut-into-telanganas-cotton-area/article9009088.ece
STATE
Jharkhand CM lists steps to woo investors
As a part of its initiative to increase the ease of doing
business, the Jharkhand government is planning to roll out a Rs. 25-crore scheme to make offices
paperless.The scheme will be carried out up to the district level. Jharkhand
ranked third in the State-wise World Bank survey last year. The state stood
first in labour regulations compliance.A Cabinet decision in this regard will
be taken within two weeks to entrust the work to PwC, according to Chief
Minister Raghubar Das. He was in the city for a roadshow to attract investment.
“The aim is to make every file and its approval process digital. Nextgen
will be designing the software for the purpose,” Das said in an exclusive
interview to BusinessLine.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/jharkhand-cm-lists-steps-to-woo-investors/article9009144.ece
Dry spell in Telangana till August 26
After a normal spread of rains in the initial phase of the
monsoon, Telangana is expected to witness a weak monsoon and dry spell till
August 26.After analysing data from various sources including the Indian
Meterological Department (IMD), the Telangana State Development Planning
Society (TSDPS) issued an advisory here on Friday. It said the week beginning
August 20 will witness a dry spell, with light to moderate rainfall in some
areas.The received 476.7 mm of rainfall till August 17 in the kharif season so
far as against 389.7 mm in the comparable period last year. The as-on-date
rainfall average is put at 491 mm.As a result of the even spread of rainfall in
different areas, agricultural operations are in full swing in the State.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/dry-spell-in-telangana-till-august-26/article9009153.ece
Medical devices park in AP to be ready in a year
Named Andhra Pradesh MedTech Zone, it would start functioning in a
year or so.“We have allocated the land - 270 acres - and formed the
special purpose vehicle for the project. Right now, 80 per cent of the medical
devices in the country are imported and this park will not only pave the way
for import substitution, but it would take up exports as well,” he
said.The cost-effective healthcare was the need of the hour, and “we, in
India, are producing cheap drugs not only for ourselves, but for the world as
well. Medical devices are still costly as they have to be imported. Therefore,
the importance of the park cannot be overemphasised.” The Chief Minister
said 40 companies had given expression of interest letters, but “we are
sure at least 200-300 units will come up here, providing jobs to 20,000 or
25,000, entailing an investment of Rs. 25,000
crore or so.”Later, interacting with entrepreneurs, he promised that high
quality common infrastructure would be provided by the State government and
clearances would be given within 14 days.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/medical-devices-park-in-ap-to-be-ready-in-a-year/article9009143.ece
Plan to earmark Rs. 11,900 cr for making highways safer: Gadkari
The Union Government plans to spend Rs. 11,900 crore for the removal of black
spots (danger/accident-prone zones) on the national highways by making the
requisite changes in the road design, Union Minister for Road Transport,
Highways and Shipping Nitin Gadkari has said. The minister was speaking at the
inaugural of the two-day national workshop on road safety 2016 which began here
on Friday. He said it was a matter of serious concern that 1.5 lakh people were
dying on Indian roads every year and the Centre, with the cooperation of the
States, was committed to bringing down the road accident deaths.The total length
of national highways was 96,000 km and the plan was to increase it to 2 lakh
km, but the focus would be on making them safer.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/plan-to-earmark-rs-11900-cr-for-making-highways-safer-gadkari/article9009154.ece
Nirmal district is KCR’s brain child
Formation of Nirmal as the third district, after Kumram Bheem
Mancherial, did evoke some opposition from people in Adilabad but it became a
certainty as the idea had come from none other than Chief Minister K.
Chandrasekhar Rao. The idea of Nirmal district first came a couple of months
back when Mr. Rao responded to the demand made by Mudhole MLA G. Vittal Reddy
and State Government representative D. Srinivas to include Mudhole Assembly
constituency in Nizamabad district. Mr. Vittal Reddy had raised the
demand at an informal private function at Yellareddy MLA Enugu Ravinder
Reddy’s home pointing out the difficulty of people in his constituency in
reaching Adilabad district headquarter, which is about 150 km away. The Chief
Minister had assured him that the problem would be solved once Nirmal became a
district with 15 mandals of Mudhole, Nirmal and Khanapur Assembly
constituencies.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/nirmal-district-is-kcrs-brain-child/article9010216.ece
Centre’s assistance sought for leather complex at Station
Ghanpur
Minister for Information Technology and Industries K.T. Rama Rao,
on Friday, urged the Union Government to provide a grant of Rs.105 crore to the
TS government towards setting up an international leather complex at Station
Ghanpur village in Warangal district.Mr. Rao presented the project proposal
estimated to cost about Rs. 270 crore prepared by IL&FS cluster development
initiative limited in an extent of 117 acres, to the Union Commerce Minister,
Nirmala Sitharaman, when he called on her in New Delhi. The Minister also urged
the Centre to expedite the proposed new policy for integrated solar PV
manufacturing and put out the draft in public domain to enable prospective
investors to go through it, give suggestions and even start planning for the
investment at the earliest.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/centres-assistance-sought-for-leather-complex-at-station-ghanpur/article9010202.ece
Karimnagar to plant 4 crore saplings
The Karimnagar district administration, which has already crossed
plantation of 3 crore saplings as part of Haritha Haram programme, is gearing
up to cross the 4-crore mark by taking all measures to plant another one crore
saplings before August 31. At a review meeting here on Friday, District
Collector Neetu Prasad asked the authorities to take all measures for the
plantation of one crore saplings by August 31 to emerge as number one district
with the highest number of saplings plantation in Telangana. Stating that they
had adequate quantity of saplings at the nurseries, she instructed the MPDOs to
collect the saplings from their respective places. She also instructed the
officials to ensure that the watering was done for the saplings with Rs. 30
lakh funds allocated to various grama panchayats in the district. She asked the
MPDOs to take up mass plantation of saplings under the NREGS programme. She
also directed the officials to motivate the farmers to take up plantation of
teak saplings.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/karimnagar-to-plant-4-crore-saplings/article9010582.ece
Medak set to lose its prominence
With Chief Minister K. Chandrasekhar Rao making up his mind for
trifurcation of Medak district, the existing district would lose its importance
of being the Chief Minister’s native district.The existing district would
get trifurcated into Siddipet, Medak and Sangareddy districts.Siddipet will
stand to gain with two most powerful persons - Mr. Chandrasekhar Rao and Mr.
Harish Rao - representing the district. Coming to Medak, it would be
represented by Deputy Speaker M. Padma Devender Reddy.Coming to Sangareddy
district, it will have no representation in the Cabinet. The agitation taken up
by the locals had finally influenced Mr. Chandrasekhar Rao to take a decision
in favour of forming Medak district. Though some analysts predicted that there
may not be formation of Medak district, the Chief Minister proved them wrong.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/medak-set-to-lose-its-prominence/article9010214.ece
‘A.P. slack in utilising funds for capital, backward
districts’
The State government, which has been persistent in reminding the
Centre about release of funds promised under the State Reorganisation Act, has
not utilised even part of funds for the purpose for which they were released.
This admission, interestingly, came from State government sources, which said
that every time the State pointed out the delay in the sanction of either
promised funds or mandatory assistance under the Act, Central Government
officials sought details of expenditure for the amounts sanctioned so far.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/ap-slack-in-utilising-funds-for-capital-backward-districts/article9009795.ece
CM urges Centre to set up NIRTS in Vizag
Chief Minister N. Chandrababu Naidu has requested the Centre to
set up the proposed National Institute of Road and Transport Safety (NIRTS) in
Visakhapatnam. The Chief Minister held a meeting with Union Minister for Road
Transport, Highways and Shipping Nitin Gadkari here on Friday to discuss with
him the plans for development of roads and ports in Andhra Pradesh.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/cm-urges-centre-to-set-up-nirts-in-vizag/article9009801.ece
‘M Wallet’ introduced in Telangana
The Telangana government has introduced Digital Driving License
and Registration Certificate, which could be downloaded by the motorist
concerned in Telangana State from the RTA M Wallet, according to Telangana
Transport Commissioner Sandeep Kumar Sultania.Speaking to newsmen on the
sidelines of the two-day National Workshop on Road Safety, which got under way
here on Friday, the Telangana Transport Commissioner spoke about the various
initiatives being taken by the Telangana Government to improve road safety and
reduce road accidents in Telangana.He said 13 lakh downloads of ‘M
Wallet’ were made in the first three months of its launch in the State.
The replica of the driving license, RC and insurance could be stored on the
mobile phone and produce them, whenever demanded by the enforcement
authorities.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/m-wallet-introduced-in-telangana/article9010234.ece
Ensure social maladies ‘quit India’, says Venkaiah Naidu
Union Minister for Information & Broadcasting M. Venkaiah
Naidu on Friday called upon people from all sections of society to re-dedicate
themselves to protecting ‘Swarajya’ (Independence) while striving
to convert it into ‘Surajya’ (good rule).Presiding over an
impressive gathering of freedom fighters, artistes, poets and people from other
sections of the society at a function titled ‘70{+t}{+h}Independence Day-
Yaad Karo Qurbani’ as part of the ongoing ‘Tiranga Yatra’, he
made a special reference to the Quit India Movement of 1942.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/ensure-social-maladies-quit-india-says-venkaiah-naidu/article9010186.ece
Governor, KCR pat the shuttler
Governor E.S.L. Narasimhan has in a message, appreciated the
stellar performance of ace shuttler P.V. Sindhu during the finals at the Rio
Olympics and acknowledged her contribution to sports in the country.A Raj
Bhavan staffer said that Mr. Narasimhan personally spoke to Sindhu’s
parents and her coach Pullela Gopichand.He also spoke to the Chief Minister K.
Chandrasekhar Rao over telephone suggesting that a suitable reward be announced
by the Government for her achievement in winning an Olympic silver medal.In a
release from the Chief Minister’s Office, Mr. Rao congratulated Sindhu
for her scintillating and spectacular performance at the Olympics.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/governor-kcr-pat-the-shuttler/article9010176.ece
New fiscal year cycle not for now
A new financial year cycle is unlikely to make its debut from
2017-18 as it would require a number of changes including accounting
practices.However, the government is set to introduce two crucial Budgetary
changes from next fiscal — merger of the Railway Budget with the Union
Budget and scrapping the expenditure classification of Plan and
Non-Plan.“Work has started on how best to merge the Railway Budget with
the Union Budget. Most likely, there will be one consolidated Budget from
2017-18,” said a person familiar with the development. The Railway
Ministry, along with the Finance Ministry, is understood to be working on how
to transfer railway assets as well as liabilities including debt into the
General Budget.
http://www.thehindubusinessline.com/todays-paper/new-fiscal-year-cycle-not-for-now/article9009098.ece
ATM-maker NCR India to provide tech solutions for retail,
hospitality sectors
NCR Corporation India — largely focussed on the banking
sector — is looking to widen its net and provide technological solutions
in verticals such as retail and hospitality, according to Managing Director
Navroze Dastur.Better known in India as a leading ATM manufacturer, NCR
Corporation wants to change this perception and position itself as a leading
‘self-service technology provider’ for the Indian market, akin to
its standing in markets abroad.
http://www.thehindubusinessline.com/todays-paper/tp-news/atmmaker-ncr-india-to-provide-tech-solutions-for-retail-hospitality-sectors/article9009118.ece
Centre to pay outstanding dues to realty firms soon
In a move that could bring significant relief to the debt-laden
construction sector and their lenders, the government is close to finalising a
policy to ensure that government agencies expeditiously pay out a large chunk
of the estimated Rs.1 lakh crore of outstanding dues they owe to
developers.This is a critical component of a special package of measures being
readied by the Niti Aayog to alleviate the cash crunch faced by the
construction sector that is now the largest employer in the country after
agriculture, but has little or no capacity to take up new infrastructure
projects.
http://www.thehindu.com/todays-paper/tp-business/centre-to-pay-outstanding-dues-to-realty-firms-soon/article9009601.ece
Intel unveils ‘merged reality’ with Project Alloy device
Signalling Intel’s goal of taking centre stage in the fields
of virtual reality, machine learning and connected devices, CEO Brian Krzanich
unveiled a host of technologies and products that he said would make the
impossible possible.Addressing a huge gathering of coders and other delegates
at the opening of the Intel Developer Forum, Mr. Krzanich spoke of
‘merged reality’, a new way of experiencing virtual reality and
real world together, using cutting-edge technology.
http://www.thehindu.com/todays-paper/tp-business/intel-unveils-merged-reality-with-project-alloy-device/article9009616.ece
Panel to review India’s innovation landscape: Nirmala
Sitharaman
The Commerce and Industry Ministry has decided to set up a
committee to examine the country’s innovation landscape and recommend new
government interventions and specific domains where the Centre should refrain
from meddling in the innovation process altogether.The move comes even as India
climbed 15 notches in the Global Innovation Index to attain the 66{+t}{+h}rank
in the world this year.
http://www.thehindu.com/todays-paper/tp-business/panel-to-review-indias-innovation-landscape-nirmala-sitharaman/article9009600.ece
India ranks 39th in Asia Pacific on fixed broadband
India ranks a low 39th in terms of fixed broadband adoption
among Asia Pacific countries, with just 1.3 per cent of its citizens
subscribing to such a service in 2015, according to a study by the United
Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
http://www.thehindu.com/todays-paper/tp-business/india-ranks-39th-in-asia-pacific-on-fixed-broadband/article9009607.ece
Immovable property to attract tax from acquisition date
Capital gains tax on future sale of immovable property disclosed
under the black money disclosure scheme will be levied from date of its
acquisition, while for other assets, it will be computed from June 1, the day
the scheme became operational, the Central Board of Direct Taxes (CBDT)
said.The CBDT issued the clarification a day after it released the fifth set of
frequently asked questions (FAQs) containing answers to 12 questions on the
Income Declaration Scheme (IDS).
http://www.thehindu.com/todays-paper/tp-business/immovable-property-to-attract-tax-from-acquisition-date/article9009602.ece
Tata Power, Cennergi start 95-MW wind project
Tata Power’s 50:50 joint venture with Exxaro Resources
in South Africa, Cennergi (Pty) announced start of commercial operations for
its 95 MW Tsitsikamma Community wind farm project on Thursday. “The said
wind farm comprises 31 3.075 MW Vestas-make turbines,” Tata Power said in
a press statement on Friday. Cennergi was picked as the preferred bidder for
two wind projects under the Renewable Energy Independent Power Producer
Procurement Programme of the South African government. With the commissioning
of this project, Cennergi’s portfolio has increased to 229 MW as it
achieved commercial operations of its 134 MW Amakhala Emoyeni wind project last
month.
http://www.thehindu.com/todays-paper/tp-business/tata-power-cennergi-start-95mw-wind-project/article9009610.ece
MFs cut banking stocks exposure to Rs.82,000-cr
Mutual funds’ allocation for bank stocks slumped to
Rs.82,000 crore at the end of July, after touching a record high in the
preceding month. Earlier, fund managers had been raising their allocation to
banking shares since February. Although, they had trimmed exposure to the
sector between November and January due to higher bad loans. Experts have
attributed the trim in allocation to banking stocks to mounting bad loans of PS
banks. However, due to sheer size of financial sector in India, MF exposure to
this sector is still the highest as compared to others such as auto and
software.
http://www.thehindu.com/todays-paper/tp-business/mfs-cut-banking-stocks-exposure-to-rs82000cr/article9009613.ece
Agro-tech industry flays GM seed licensing policy
The agro-tech industry, including seed companies
and biotech licensees, have strongly opposed the proposed GM seed licensing policy,
which was introduced for public comment in May. The guidelines have been criticised as
introducing a regime of 'compulsory licensing' for patented technology. They
are also said to hamper innovation and adversely affect future investment in
farm technologies in India.
http://economictimes.indiatimes.com/articleshow/53779895.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Ministries pooling data to account for
environmental damage in GDP
India has taken the first step to account for
environmental damage while calculating its national income or gross domestic
product. Various ministries have begun pooling data to create environment
accounts for forest cover, water, waste and soil resources, among others, under
a newly introduced System of Environmental Economic Accounting.
http://economictimes.indiatimes.com/articleshow/53780045.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Government selects four investment banks for share
sale in HUDCO
Department of Investment and Public Asset
Management (DIPAM), the nodal agency under the finance ministry that
co-ordinates government disinvestment programme has selected four investment
banks for the proposed share sale in HUDCO (Housing & Urban Development
Corporation Limited).
http://economictimes.indiatimes.com/articleshow/53770924.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Cabinet Secretary-headed panel holds third meet to
shortlist names to head RBI
Below the radar of the speculations of the next
RBI governor, Prime Minister Narendra Modi's insistence to follow a rigorous
process has got the Cabinet Secretary-headed selection panel to work overtime
to complete process to recommend a panel of names to the Prime Minister and
Finance Minister for the selection as the next RBI governor.
http://economictimes.indiatimes.com/articleshow/53779098.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
This is for the information of the members.
R. KULKARNI
Joint Director