* AGRICULTURE: The government is in the process of finalising modalities for the modified price stabilisation fund.
* AVIATION: Despite soaring costs primarily due to rupee depreciation, airlines are selling tickets at the lowest price levels in the past two years. Global airline industry body International Air Transport Association has warned that privatization of the six major public sector airports could drastically push up fares.
- The ministry of civil aviation is planning to do away with a regulation that requires Indian carriers to have a fleet of at least 20 aircraft to start international operations.
* ELECTRICAL: After four consecutive quarters of negative growth, the Indian electrical equipment industry reported a 2% year on year growth in Apr-Jun, led by a rise in exports.
* ENGINEERING: The government may soon make it mandatory for companies executing ultra mega power projects to buy equipment from the domestic market.
* GOVERNMENT: Congress President and head of the United Progressive Alliance Sonia Gandhi said the government will have to find resources to implement the food security bill and said it is open to constructive suggestion regarding the legislation. Sonia Gandhi on Monday took ill in Parliament while debate in Lok Sabha on the Food Security Bill was still on.
* INFRASTRUCTURE: The Cabinet Committee on Investment today gave its approval to fast-track clearances to 36 stalled infrastructure projects including 28
belonging to the power sector.
* IVRCL: India Ratings & Research has downgraded the company's long-term issuer rating to IND D from IND BB with a negative outlook due to delays in the servicing of term loans, and its poor liquidity position.
* MINING: The Mines Ministry is of the view that the Mineral Resource Rent Tax, proposed by Odisha on iron ore mining, can be effectively substituted by the provisions of national and state mineral funds and the Mines and Minerals (Development and Regulation) Bill, 2011 among others.
- The Supreme Court rejected a plea to examine irregularities, other than encroachment beyond leased areas, in iron ore mining in Karnataka.
* OIL AND GAS: The Comptroller and Auditor General have asked the ministry of petroleum and natural gas to explain steps taken by it to ensure that RELIANCE INDUSTRIES complies with the gas production target from the KG-D6 fields.
* PHARMACEUTICALS: The US drug regulator has issued warning letters to Indian drugmaker Promed Exports and Posh Chemicals for violation of good manufacturing practices.
* POWER: The Cabinet Committee on Investments has asked ministry of environment and forests to expedite approvals for nearly 500 bln rupees worth of power projects.
* RATINGS AGENCIES: Fitch has warned that the space to contain expenditure is very limited in the second half of the financial year and added that India could face a downgrade if it is unable to meet its fiscal deficit target.
* REGULATORY: The BSE will suspend trading in shares of 15 companies, including Koutons Retail and Dunlop India , from Sep 18 for failing to comply with various clauses of the Listing Agreement. The Supreme Court will continue hearings on Sep 2 on the Securities and Exchange Board of India petition seeking initiation of contempt proceedings against two Sahara group companies, its three directors and group chief Subrata Roy Sahara in the debentures refund case.
- The restriction placed on buying shares of TAI INDUSTRIES and MADRAS ALUMINIUM CO by non-resident Indians and persons of Indian origin has been withdrawn with immediate effect.
* TELECOM: The government is likely to put up 285 MHz spectrum in the 1,800 MHz band, which was freed from licenses quashed by the Supreme Court in February last year in the third round of the upcoming auction.
-The government on Monday relaxed norms for foreign direct investment in the telecom sector by dropping certain security-related provisions mandatory
for 100% foreign direct investment proposals.
* AVIATION: Despite soaring costs primarily due to rupee depreciation, airlines are selling tickets at the lowest price levels in the past two years. Global airline industry body International Air Transport Association has warned that privatization of the six major public sector airports could drastically push up fares.
- The ministry of civil aviation is planning to do away with a regulation that requires Indian carriers to have a fleet of at least 20 aircraft to start international operations.
* ELECTRICAL: After four consecutive quarters of negative growth, the Indian electrical equipment industry reported a 2% year on year growth in Apr-Jun, led by a rise in exports.
* ENGINEERING: The government may soon make it mandatory for companies executing ultra mega power projects to buy equipment from the domestic market.
* GOVERNMENT: Congress President and head of the United Progressive Alliance Sonia Gandhi said the government will have to find resources to implement the food security bill and said it is open to constructive suggestion regarding the legislation. Sonia Gandhi on Monday took ill in Parliament while debate in Lok Sabha on the Food Security Bill was still on.
* INFRASTRUCTURE: The Cabinet Committee on Investment today gave its approval to fast-track clearances to 36 stalled infrastructure projects including 28
belonging to the power sector.
* IVRCL: India Ratings & Research has downgraded the company's long-term issuer rating to IND D from IND BB with a negative outlook due to delays in the servicing of term loans, and its poor liquidity position.
* MINING: The Mines Ministry is of the view that the Mineral Resource Rent Tax, proposed by Odisha on iron ore mining, can be effectively substituted by the provisions of national and state mineral funds and the Mines and Minerals (Development and Regulation) Bill, 2011 among others.
- The Supreme Court rejected a plea to examine irregularities, other than encroachment beyond leased areas, in iron ore mining in Karnataka.
* OIL AND GAS: The Comptroller and Auditor General have asked the ministry of petroleum and natural gas to explain steps taken by it to ensure that RELIANCE INDUSTRIES complies with the gas production target from the KG-D6 fields.
* PHARMACEUTICALS: The US drug regulator has issued warning letters to Indian drugmaker Promed Exports and Posh Chemicals for violation of good manufacturing practices.
* POWER: The Cabinet Committee on Investments has asked ministry of environment and forests to expedite approvals for nearly 500 bln rupees worth of power projects.
* RATINGS AGENCIES: Fitch has warned that the space to contain expenditure is very limited in the second half of the financial year and added that India could face a downgrade if it is unable to meet its fiscal deficit target.
* REGULATORY: The BSE will suspend trading in shares of 15 companies, including Koutons Retail and Dunlop India , from Sep 18 for failing to comply with various clauses of the Listing Agreement. The Supreme Court will continue hearings on Sep 2 on the Securities and Exchange Board of India petition seeking initiation of contempt proceedings against two Sahara group companies, its three directors and group chief Subrata Roy Sahara in the debentures refund case.
- The restriction placed on buying shares of TAI INDUSTRIES and MADRAS ALUMINIUM CO by non-resident Indians and persons of Indian origin has been withdrawn with immediate effect.
* TELECOM: The government is likely to put up 285 MHz spectrum in the 1,800 MHz band, which was freed from licenses quashed by the Supreme Court in February last year in the third round of the upcoming auction.
-The government on Monday relaxed norms for foreign direct investment in the telecom sector by dropping certain security-related provisions mandatory
for 100% foreign direct investment proposals.
