NEWS IN BRIEF. Modi Forms 3 sub-groups of CMs under NITI Aayog

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Oswald Dalton
5 years ago
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1 ECONOMY Economic Growth/Reforms 1 Modi Forms 3 sub-groups of CMs under NITI Aayog Heeding the long pending demand of states, Prime Minister Narendra Modi on Sunday formed a sub-group of chief ministers under NITI Aayog to suggest further rationalisation of 66 centrally funded schemes. This could prune the number of programmes, transfer some of them to the states and even end the not-so-popular ones. 2 GDP growth in FY15 pegged at 7.4% against 6.9% in FY14 The Indian economy is forecast to grow 7.4% in after a robust 7.5% expansion in the October-December quarter, overtaking China as one of the fastest growing major economies but the data surprised economists. 2 Economic growth in India firming up, says OECD India s growth if firming up while most of the major economies, including China and the united States, are seeing stable momentum, according to Paris-based think-tank OECD. 3 Indian government s reforms significant, says US official The new Indian government's economic reforms are "significant and meaningful" but more work needs to be done to achieve the goals of economic growth, a senior US official has said ahead of Treasury Secretary Jacob Lew's India visit next week. 3 CII s wish list for upcoming Budget The rates of service tax, Central excise and customs duties be maintained at the current level in the Budget in order to aid the success of the "Make in India" initiative, industry body CII has said. At present, the rate of service tax and excise duty is 12 per cent each, while the customs duty stands at 10 per cent. 4 Indian IT to see moderate growth in FY16: Survey Indian information technology services are expected to have a growth rate of per cent for FY16, lower: than the forecast ( guidance') for FY15 of Nasscom, the Sector's apex business association, says a study. 4 GDP recovery not accompanied by earnings growth Goldman Sachs had forecast in December that India's gross domestic product (GDP) growth would outpace China's by FY However, the Indian government has managed the feat this year. Under the new GDP series, the economy expanded 7.5 per cent in the December quarter. 5 Budget 2015 likely to be most significant one: Morgan Stanley The upcoming Budget could be the most important one for the stock market after the early 90s, when India launched economic Iiberalisation, according to Morgan Stanley India Strategist, Ridham Desai. i

2 5 Growth factor: No desi city in Top 10 The hurly-burly is done; the electoral battle is lost and won. As the poll dust settles over Delhi, the two men who matter most in the city may want to mull over the dismal rating of India's capital and premier metropolis in the world's growth chart, a scroll in which no Indian city makes the Top 10 or even Top 15. INDUSTRY Industrial Growth & Production 6 Central packages for Telangana, AP get mixed response The incentives for industries in Andhra Pradesh and Telangana, announced by the Centre along with a special development package for the former, have generated a mixed reaction from various players in the industry and chambers. 7 Modi discusses ways to attract investment, create jobs in maiden NITI Aayog meeting India must move decisively on infrastructure financing, fiscal consolidation and implementing the goods and services to: regime to set the country on the cusp of its next stage- of growth, top economists told Prime Minister Narendra Modi on Friday at the first meeting of Nm Aayog, the successor to the Planning Commission. 8 AAP s decisive mandate could help industry Hailing Aam Aadmi Party's victory in Delhi, India Inc on Tuesday expressed hope that the decisive mandate will help create a positive governance environment for growth of businesses in the state to strengthen its economic position. 9 States seek relaxations in mining ordinance Faced with difficulty in implementing the guidelines set in the Mines and Minerals Development and Regulation Amendment Ordinance, mineral-rich states have sought a relaxation in these. 9 Growth agenda on track, says India Inc BJP's massive defeat in Delhi, just two weeks before the Union stunned by the extent of AAP's victory in the capital, which diminished the BJP arid entirely eliminated the Congress, industry leaders expressed conviction that it would not impact the reforms process going forward. 10 Manufacturing output drives industrial growth in December Led by better manufacturing performance, factory output grew 1.7 per cent in December This was substantially higher than 0.1 per cent growth recorded in December Divestment Target of `45,000 Crore Likely for FY16 Finance minister Arun Jaitley is likely to announce an ambitious `45,000 crore disinvestment programme for the year starting April 1 when he presents the ii

3 Budget in parliament on February 28. Infrastructure Projects Financing Green laws: Ministry to fast-track discussions on amending five Acts The Ministry of Environment, Forests and Climate Change will engage local officers across various departments such as forests, pollution control, and on the changes needed in the five Central Acts related to the environment, before tabling an amendment proposal in Parliament. Fadnavis Assures Infra Boost for Maximum City Maharashtra chief minister Devendra Fadnavis on Friday assured industrialists of quick and speedy completion of key infrastructure projects for Mumbai and allowed the city's civic body to float municipal bonds for the first time ever. ADB could be equity or debt partner for smart cities The Asian Development Bank (ADB) has shown interest in partnering with and lending aid to the Government for its 100 smart cities project. ADB has done a feasibility study on the Chennai-Visakhapatnam corridor. L&T eyeing smart cities push to shore up India biz L&T Infotech, the soft- ware services arm of engineering and construction major Larsen & Toubro, will look to work closely with the parent to gain more business in India amid the government's push for smart cities and digital infrastructure. 14 CEMENT INDUSTRY Growth/Marketing/Demand/Takeover Aditya Birla Group to Merge ABCIL with Grasim as Part of Recase Plan Aditya Birla Group announced a restructuring plan on 'Wednesday under which Aditya Birla Chemicals (India) (ABCIL) will merge with Grasim Industries, as the group looks to consolidate similar businesses under one roof Financing, Public Issues & Shares Slack demand hits Ramco Cement net Slack demand has contributed to Ramco Cements reporting a marginal drop in net profit for the third quarter of the current year, over the comparable previous quarter. India Cements stock climbs 12.32% Following the decision to relinquish the ownership of Chennai Super Kings Cricket Ltd, the stocks of India Cements went up by per cent on Thursday. iii

4 Housing & Building Construction Focus on building inclusive, green cities, says ADB President Asia must focus on building inclusive, green and resilient cities, said Takehiko Nakao, President, Asian Development Bank (ADB), on Thursday, adding that the ADB is firmly committed to supporting India s 100 smart cities project. Affordable housing firm plans `500 cr public listing Value and Budget Housing V Corp. Pvt. Ltd (VBHC), a company co-founded by Jerry Rao, has started consultations with investment bankers for a possible initial public offering {IPO) to raise about `500 crore, according to two bankers who have met the company. Singapore model can make Mumbai slum-free: Experts If the Maharashtra government adopts the Singapore government's housing and development board (HDB) model, then Mumbai will be slum-free and each Mumbaikar will get an affordable house in the next 10 years, say housing experts. 18 Coal ENERGY, FUEL & POWER Coal imports soften as local supply improves India's coal imports in January fell 21 per cent month-on-month, as stateowned Coal India ramped up supply from new and existing mines, online trader mjunction said, a trend that is likely to continue this month. 18 Power Projects, Generation, Distribution & Tariff India s first renewable energy summit to see 166 GW of solar investment willingness In the build-up to the government-sponsored renewable energy investment summit, RE-Invest 2015, the participating companies have provided nonbinding investment indication of 166 gigawatt (Gw) solar power generation capacity and five Gw per year of solar manufacturing capacity. Renewable energy sector to attract 200 bn: Goyal India's renewable energy sector is looking to attract $200 billion (`12.4 lakh crore) from investments as several domestic and international firms queue up to tap the potential of the green power. Highways/Roads/Bridges TRANSPORT Rs.7,000-cr project to add more lanes to expressway, NH-4 With traffic on the 95-km Mumbai-Pune Expressway on the rise, the iv

5 20 Maharashtra State Road Development Authority is planning a Rs.7,000 crore project of adding more lanes to the expressway and NH-4, the old Mumai- Pune highway. DMICDC takes off with Ujjain, Dholera next India s most ambitious infrastructure project, since Atal Bihari Vajpayee's 5,846-km Golden Quadrilateral project, the `325,000-crore Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) took off last Wednesday with the corporation putting out bids for building trunk infrastructure in Vikram Udyogpuri near Ujjain in Madhya Pradesh. All systems of Road Ministry to be made online: Gadkari Aimed at ensuring transparency and better administration, the Road Transport and Highways Ministry on Monday said it aims to bring the entire system to fall under the scope of e-governance module. Inland Waterways & Irrigation Canals India needs a vibrant national port policy India's major ports urgently need thorough organisational restructuring with a view to transforming them into viable business entities. Silk road talks take a detour around India India was barely mentioned during a two-day government-sponsored seminar on the 21 st Century Maritime Silk Road (MSR) plan, China's latest attempt to showcase President Xi Jinping's ambitious mission to link the country to Africa for trade through the Indian Ocean F1 Tenders Cement Concrete Roads (CC1 CC10) Tenders Housing (T11 T12) Tenders Canal Lining (T13 T14) Financial Results (F1-F17) ****** v

NEWS IN BRIEF. Jaitley tells investors not to panic, trust economy s strength

NEWS IN BRIEF. Jaitley tells investors not to panic, trust economy s strength ECONOMY Economic Growth/Reforms 1 Jaitley tells investors not to panic, trust economy s strength A day after the Sensex plunged 807 points, sending jitters among investors, finance minister Arun Jaitley