* AGRICULTURE: Environment Minister Veerappa Moily is expected to cast his vote in favour of allowing genetically modified food crops in the country.
* AUTOMOBILE: The government has decided to make minor changes in the final notification on quadricycle to address strong concerns raised by a majority of companies including TATA MOTORS, MAHINDRA & MAHINDRA, MARUTI SUZUKI INDIA, TVS MOTOR CO and Piaggio.
* AVIATION: Appointments Committee of the Cabinet has approved the appointment of Ashok Lavasa as secretary, Ministry of Civil Aviation. Air India got approval of the Cabinet Committee on Economic Affairs to sell five Boeing 777-200LRs to Etihad Airways. Air India has put on the block a 1.33 acre property in Chennai.
* BANKS: National Housing Bank is planning to offer funds at concessional rate to Bharatiya Mahila Bank for lending to home loan seekers.
* FERTILISER: Government has appointed Shaktikanta Das as the fertiliser secretary.
* GOLD: The government will soon relax conditions for import of gold dore by refiners.
* GOVERNMENT: Union Cabinet has approved setting up of an inquiry commission to look into the incidents of physical and electronic surveillance in Gujarat, Himachal Pradesh, and Delhi , allegedly without authorisation. The environment ministry has eased state-level clearance norms and has scrapped mandatory environmental impact assessment and public hearing process in some cases. Is likely to overlook minor defects revealed during the course of multinational companies seeking refuge under India 's new safe harbour norms.
* INRASTRUCTURE: Highway developers may have to wait longer for a bailout programme as the finance ministry and plan panel have sought changes in the draft for the package. About 2 trln rupees worth of key infrastructure projects are stuck due to delay in receiving state approvals.
* INVESTMENT: Canada 's largest quick-service restaurant chain Tim Hortons plans to enter Indian market.
* IPO: Supermarket operator Spencer's Retail plans an initial public offering soon as the chain inches close to making its first profit, group Chairman Sanjiv Goenka said.
* METALS: Steelmakers are poised to raise prices from Jan 1 by 700-1,000 rupees per tn to offset higher production costs triggered by rising input costs and freight charges.
* OIL & GAS: Adani Gas Limited has reduced compressed natural gas and piped natural gas (domestic) price in Ahmedabad and Vadodara by 10.05 rupees per kg and 8.2 rupee per kg, respectively. Chairman of the Economic Advisory Council to the Prime Minister, C. Rangarajan, hinted deregulation of diesel might happen anytime soon.
- The government's plan to negotiate cheaper gas price with Qatar in exchange for increased airline seats between India and the Gulf nation is unlikely to find favour among all ministries. Directorate General of Hydrocarbons has recommended to the oil ministry that production-sharing contracts expiring in the next few years be extended by 10 years or till the economic life of the field is over.
* PHARMA: PET Container Manufacturers Association refuted recommendations suggesting ban on use of polyethylene terephthalate containers for packaging of pharmaceutical products.
* REGULATORY: Reserve Bank of India Governor Raghuram Rajan met Finance Minister P. Chidambaram and Economic Affairs Secretary Arvind Mayaram to discuss current macro-economic conditions. RBI said a steep rise in interest payment of private non-financial foreign direct investment companies in 2011-12 (Apr-Mar) resulted in a decline in the net profit, even though growth in sales of select companies at the aggregate level improved marginally. A number of bitcoin operators in India have begun suspending their business, following RBI's warning against use of such virtual currencies.
* TAX: SEBI Chairman U.K. Sinha has sought clarity on taxation policy to be applied to retirement-focused funds to tap the huge pool of capital. India is now looking to take away the favourable tax treatment available to investors from Cyprus under the bilateral tax treaty between the two countries.
* TELECOM: Telecom Secretary M.F. Farooqui said that a decision on spectrum usage charge will be taken before the scheduled spectrum auction in January. BHARTI AIRTEL, Vodafone, IDEA CELLULAR and the local unit of Telenor have stepped up pressure on the government to replace the current system for levying spectrum-usage charge with a flat structure.
* AUTOMOBILE: The government has decided to make minor changes in the final notification on quadricycle to address strong concerns raised by a majority of companies including TATA MOTORS, MAHINDRA & MAHINDRA, MARUTI SUZUKI INDIA, TVS MOTOR CO and Piaggio.
* AVIATION: Appointments Committee of the Cabinet has approved the appointment of Ashok Lavasa as secretary, Ministry of Civil Aviation. Air India got approval of the Cabinet Committee on Economic Affairs to sell five Boeing 777-200LRs to Etihad Airways. Air India has put on the block a 1.33 acre property in Chennai.
* BANKS: National Housing Bank is planning to offer funds at concessional rate to Bharatiya Mahila Bank for lending to home loan seekers.
* FERTILISER: Government has appointed Shaktikanta Das as the fertiliser secretary.
* GOLD: The government will soon relax conditions for import of gold dore by refiners.
* GOVERNMENT: Union Cabinet has approved setting up of an inquiry commission to look into the incidents of physical and electronic surveillance in Gujarat, Himachal Pradesh, and Delhi , allegedly without authorisation. The environment ministry has eased state-level clearance norms and has scrapped mandatory environmental impact assessment and public hearing process in some cases. Is likely to overlook minor defects revealed during the course of multinational companies seeking refuge under India 's new safe harbour norms.
* INRASTRUCTURE: Highway developers may have to wait longer for a bailout programme as the finance ministry and plan panel have sought changes in the draft for the package. About 2 trln rupees worth of key infrastructure projects are stuck due to delay in receiving state approvals.
* INVESTMENT: Canada 's largest quick-service restaurant chain Tim Hortons plans to enter Indian market.
* IPO: Supermarket operator Spencer's Retail plans an initial public offering soon as the chain inches close to making its first profit, group Chairman Sanjiv Goenka said.
* METALS: Steelmakers are poised to raise prices from Jan 1 by 700-1,000 rupees per tn to offset higher production costs triggered by rising input costs and freight charges.
* OIL & GAS: Adani Gas Limited has reduced compressed natural gas and piped natural gas (domestic) price in Ahmedabad and Vadodara by 10.05 rupees per kg and 8.2 rupee per kg, respectively. Chairman of the Economic Advisory Council to the Prime Minister, C. Rangarajan, hinted deregulation of diesel might happen anytime soon.
- The government's plan to negotiate cheaper gas price with Qatar in exchange for increased airline seats between India and the Gulf nation is unlikely to find favour among all ministries. Directorate General of Hydrocarbons has recommended to the oil ministry that production-sharing contracts expiring in the next few years be extended by 10 years or till the economic life of the field is over.
* PHARMA: PET Container Manufacturers Association refuted recommendations suggesting ban on use of polyethylene terephthalate containers for packaging of pharmaceutical products.
* REGULATORY: Reserve Bank of India Governor Raghuram Rajan met Finance Minister P. Chidambaram and Economic Affairs Secretary Arvind Mayaram to discuss current macro-economic conditions. RBI said a steep rise in interest payment of private non-financial foreign direct investment companies in 2011-12 (Apr-Mar) resulted in a decline in the net profit, even though growth in sales of select companies at the aggregate level improved marginally. A number of bitcoin operators in India have begun suspending their business, following RBI's warning against use of such virtual currencies.
* TAX: SEBI Chairman U.K. Sinha has sought clarity on taxation policy to be applied to retirement-focused funds to tap the huge pool of capital. India is now looking to take away the favourable tax treatment available to investors from Cyprus under the bilateral tax treaty between the two countries.
* TELECOM: Telecom Secretary M.F. Farooqui said that a decision on spectrum usage charge will be taken before the scheduled spectrum auction in January. BHARTI AIRTEL, Vodafone, IDEA CELLULAR and the local unit of Telenor have stepped up pressure on the government to replace the current system for levying spectrum-usage charge with a flat structure.
