* AVIATION: Ministry will not raise objections on the airline joint venture between Tata Sons and Singapore Airlines when it comes for consideration at the FIPB meeting, Aviation Secretary K.N. Srivastava said. Mahindra Aerospace plans to enter the small aircraft market in India and is awaiting the Director General of Civil Aviation's pproval for the same.
* BANKING: After the finance ministry's notification to exempt annuity payments received under the reverse mortgage scheme from income tax, National Housing Bank expects the market for such schemes to grow significantly.
* COMMODITIES: India 's sugar output for the new season beginning Oct 1 is seen at 24.0 mln tn, compared to an estimated demand of 23.5 mln tn. India 's cotton output is seen at a record 38.1 mln bales in the new marketing season that began Oct 1, up nearly 7% from a year ago.
* COURTS: Supreme Court declined to entertain a public interest litigation that urged the court to monitor excavation for gold under the ruins of a 19th century fort in Unnao district of Uttar Pradesh. Bombay High Court has asked submission from Forward Markets Commission on the regulatory jurisdiction of spot exchanges by Friday.
* ENERGY: PETRONAS Lubricants International plans to set up a lubricant oil blending plant near Mumbai at an investment of $50 mln.
* ECONOMY: Adviser to Finance Minister and Tax Administration Reforms Chairman Parthasarathi Shome said transfer pricing was an instrument to tackle tax avoidance, and should not be seen as a mode of revenue generation. Tax Administration Reforms Commission will submit its first report within six months and will give quarterly progress reports thereafter.
* INFRASTRUCTURE: Government has decided to tighten eligibility norms for selecting bidders for infrastructure projects.
* INSURANCE: Shriram General Insurance is scouting for acquisitions in Asia .
* REGULATORS: RBI has advised banks to settle claims of people missing in the Uttarakhand natural disaster on submission of death certificate issued by the designated officer and letter of indemnity.
* SPECIAL ECONOMIC ZONE: The government has allowed manufacturing units in special economic zones to outsource production to units located outside the export enclave for up to three years.
* TELECOM: Department of Telecommunications has decided to allow an entity that is formed by merger of two or more mobile service providers to have up to 50% market share in a circle.
* BANKING: After the finance ministry's notification to exempt annuity payments received under the reverse mortgage scheme from income tax, National Housing Bank expects the market for such schemes to grow significantly.
* COMMODITIES: India 's sugar output for the new season beginning Oct 1 is seen at 24.0 mln tn, compared to an estimated demand of 23.5 mln tn. India 's cotton output is seen at a record 38.1 mln bales in the new marketing season that began Oct 1, up nearly 7% from a year ago.
* COURTS: Supreme Court declined to entertain a public interest litigation that urged the court to monitor excavation for gold under the ruins of a 19th century fort in Unnao district of Uttar Pradesh. Bombay High Court has asked submission from Forward Markets Commission on the regulatory jurisdiction of spot exchanges by Friday.
* ENERGY: PETRONAS Lubricants International plans to set up a lubricant oil blending plant near Mumbai at an investment of $50 mln.
* ECONOMY: Adviser to Finance Minister and Tax Administration Reforms Chairman Parthasarathi Shome said transfer pricing was an instrument to tackle tax avoidance, and should not be seen as a mode of revenue generation. Tax Administration Reforms Commission will submit its first report within six months and will give quarterly progress reports thereafter.
* INFRASTRUCTURE: Government has decided to tighten eligibility norms for selecting bidders for infrastructure projects.
* INSURANCE: Shriram General Insurance is scouting for acquisitions in Asia .
* REGULATORS: RBI has advised banks to settle claims of people missing in the Uttarakhand natural disaster on submission of death certificate issued by the designated officer and letter of indemnity.
* SPECIAL ECONOMIC ZONE: The government has allowed manufacturing units in special economic zones to outsource production to units located outside the export enclave for up to three years.
* TELECOM: Department of Telecommunications has decided to allow an entity that is formed by merger of two or more mobile service providers to have up to 50% market share in a circle.
