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ECONOMY
Economy hit by more bad news
Even as the Narendra Modi government tries to prop up a sagging economy, the headwinds are rising with the latest bad news coming today on the wholesale price and external trade fronts.Headline Wholesale Price Index-based inflation rose, even while remaining in the negative, at -3.81 per cent, in October on the back of costlier pulses and vegetables, while exports continued to fall for the eleventh consecutive month as global demand remained weak.
http://www.thehindubusinessline.com/todays-paper/economy-hit-by-more-bad-news/article7885104.ece
GAS
Oil Ministry calls for freeing up gas pricing in future auctions
The Ministry of Petroleum and Natural Gas proposes to provide pricing and marketing freedom to hydrocarbon exploration & production firms in the forthcoming auction rounds.In the consultation paper on new fiscal and contractual regime for award of areas, the Ministry has proposed marketing and pricing freedom for natural gas production.
http://www.thehindubusinessline.com/todays-paper/tp-news/oil-ministry-calls-for-freeing-up-gas-pricing-in-future-auctions/article7885122.ece
NUCLEAR NON –PROLIFERATION TREATY
Australian Parliament ratifies nuke deal with India, commercial talks set to begin
India will be the first country to buy Uranium from Australia despite not being a signatory to the Nuclear Non-Proliferation Treaty (NPT).With the Australian Parliament ratifying the deal, commercial agreements will be signed shortly."We expect the commercial agreements to begin soon with the Australian Parliament now ratifying the deal. However, all that will depend on the right kind of price and availability. It could be tied up with other energy resources that we import from Australia. The supplies will begin by 2016," a top official, involved in the talks, told
BusinessLine .
http://www.thehindubusinessline.com/todays-paper/tp-news/australian-parliament-ratifies-nuke-deal-with-india-commercial-talks-set-to-begin/article7885123.ece
CUSTOMS & CENTRAL EXCISE DUTIES
FinMin notifies revised duty drawback rates
The Finance Ministry on Monday notified revised rates of duty drawback that will be effective from November 23."These revised rates are based on average incidence of customs and central excise duties and service tax related with the manufacture of export goods and involve substantial total drawback for exporters," said an official release.Duty drawback is a relief or refund of certain types of customs and central excise duties as well as service tax on imports of inputs or raw materials that are used to manufacture goods for exports.
http://www.thehindubusinessline.com/todays-paper/tp-news/finmin-notifies-revised-duty-drawback-rates/article7885125.ece
FDI
'Easing FDI is start of big-bang reforms'
The Centre has liberalised FDI rules in as many as 15 sectors. Realty and construction is among the biggest beneficiaries, as all restrictions have been removed barring a three-year lock-in. Bloomberg TV India caught up with Rajeev Talwar, Group Executive Director of DLF, to discuss the implications for the real estate space.
http://www.thehindubusinessline.com/todays-paper/tp-news/easing-fdi-is-start-of-bigbang-reforms/article7885131.ece
AGRICULTURE
After noodles, Patanjali Ayurved eyes health drink, babycare segments
Yoga-guru Baba Ramdev-promoted FMCG venture, Patanjali Ayurved, which formally launched its atta instant-noodles on Monday, has now set its eyes on the health-food drinks and babycare product categories. The company also plans to expand its beauty care range with a premium cosmetic brand and launch khadi-made yoga wear apparel.At the launch of atta instant noodles, Baba Ramdev said the idea behind entering the noodles segment is to bring in the concept of healthy food as well as compete with foreign companies that dominate the FMCG segment.
http://www.thehindubusinessline.com/todays-paper/tp-news/after-noodles-patanjali-ayurved-eyes-health-drink-babycare-segments/article7885128.ece
FDI: palm oil sector wants land ceiling norms relaxed
The Oil Palm Developers and Processors Association (OPDPA) has welcomed the Centre's move to allow 100 per cent Foreign Direct Investment (FDI) in oil palm plantations. The association feels that the move would help fill the gaps in supply of the edible oil.It, however, wants relaxation of land ceiling norms to facilitate the growth of oil palm acreage and to allow large scale plantation.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/fdi-palm-oil-sector-wants-land-ceiling-norms-relaxed/article7885079.ece
Mumbai to host coffee fest in January
About 60 companies and 500 delegates are expected to participate in the India International Coffee Festival 2016 that will be held in Mumbai from January 19 to 23. The event is aimed at creating a gateway to the country's unsaturated market for the domestic and international stakeholders.The per capita consumption of coffee in India is pegged at around 90 grams, thereby leaving huge room to boost the offtake.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/mumbai-to-host-coffee-fest-in-january/article7885083.ece
Nizamabad: Rs 2,000 crore for mega food parks
Union minister of food processing industries Harsimrat Kaur Badal said that Rs 2,000 crore has been allocated for setting up food processing units in the country in 2015-16 financial year. Aiming to ensure remunerative prices to the agriculture produces and provide quality products to the consumers, the Centre is encouraging food processing units, she explained.The Union minister laid the foundation stone for Smart Agro mega food park at Lakkampally village in Nandipet mandal on Monday. Speaking on the occasion, Ms Harsimrat said that three mega food parks have been sanctioned for Nizamabad, Mahbub-nagar and Khammam districts in the current year. She said that each mega food park will provide employment opportunity for one lakh people directly and indirectly. Ms Harsimrat directed to constitute a committee and provide employment opportunities to the locals in Lakkampally food park. In first phase, processing units will be developed in 80 acres at a cost of Rs 110 crore and the Centre will release Rs 50 crore, she added.
http://www.deccanchronicle.com/151117/nation-current-affairs/article/nizamabad-rs-2000-crore-mega-food-parks
BANKING
Overdraft under Jan Dhan scheme nears Rs. 120-cr mark
Nearly Rs. 120 crore have been taken by bank account holders as overdraft under the Pradhan Mantri Jan Dhan Yojana (PMJDY).With repeated prodding by the government, banks had disbursed Rs. 11,825 lakh to 8.37 lakh account holders under the scheme as of October 30, according to Finance Ministry data.In the past banks had often shied away from providing the facility over repayment concerns. To encourage banks to provide an overdraft facility to subscribers, the Reserve Bank of India had in February also included the funding as part of priority sector lending targets.
http://www.thehindubusinessline.com/todays-paper/tp-money-banking/overdraft-under-jan-dhan-scheme-nears-rs-120cr-mark/article7885086.ece
Canara Bank to launch loan product for start-ups
Canara Bank is planning to launch a loan product exclusively for start-ups in the country. Rakesh Sharma, Managing Director and Chief Executive Officer of the public sector bank, said this on the sidelines of his visit to the Mangaluru circle office of the bank on Monday.Though he did not reveal details on the proposed loan product, he said in all probability it would be launched by the month-end. "We have to make it (product) fool-proof so that there should not be any slippages. That is why are going cautiously on that. Those details are being finalised."
http://www.thehindubusinessline.com/todays-paper/tp-money-banking/canara-bank-to-launch-loan-product-for-startups/article7885090.ece
ECBs: Govt may allow cos to tap more lenders
New external commercial borrowings (ECB) norms being finalised by the Finance Ministry are likely to introduce new lenders, such as pension and sovereign funds, that companies can tap into and lower costs."Discussions are being initiated over the draft framework proposed by the Reserve Bank of India as well as the comments on it. The final norms are likely to be unveiled by the month end or early December," said a person familiar with the development, adding that the focus will be on improving the ease of doing business in the country.
http://www.thehindubusinessline.com/todays-paper/tp-money-banking/ecbs-govt-may-allow-cos-to-tap-more-lenders/article7885092.ece
Bandhan Bank
The deposit-base of Bandhan Bank, which began operations in August, has crossed the Rs.2,500-crore mark even as it opened its 566{+t}{+h}branch. It plans to have 632 branches and 250 ATMs by March 2016. Reserve Bank of India (RBI) Deputy Governor Harun Rashid Khan, inaugurated Bandhan Bank's first branch in Bhubaneswar, Odisha, on Monday. Bandhan, which is eastern India's first new bank since independence, now has branches in 27 States. Of these 14 are in West Bengal , followed by seven in Bihar and six each in Maharashtra and Madhya Pradesh. It has five branches each in Gujarat and Rajasthan. It started off with 501 branches and 50 ATMs across 24 Indian States. It now has 160 ATMs and over 19,500 employees. Migrating from a micro-finance institution, Bandhan started with a loan book of around Rs 10,500 crore.
http://www.thehindu.com/todays-paper/tp-business/bandhan-bank/article7885237.ece
SBI to launch mobile wallet 'Batua' for basic phones
In the mobile app business, State Bank of India (SBI) wants to do one up on the private banks with plans to launch a pocket wallet 'Batua' for use on the basic phones. It had earlier launched 'Buddy' mobile app for smart phones for transactions through a phone."We are in the process of transforming ourselves. 'Batua' or 'Purse' will be launched in 13 Indian languages for non-smart phones in three weeks across the country. It will have features similar to 'Buddy', announced Rajnish Kumar, Managing Director, Group Executive, SBI. 'Buddy' was launched two months ago.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/sbi-to-launch-mobile-wallet-batua-for-basic-phones/article7885526.ece
EXPORTS
Exports shrink, trade deficit narrows
India's merchandise exports in October shrunk 17.5 per cent year-on-year to $21.35 billion, leaving the shipment in the negative territory for the eleventh consecutive month due to a persisting weak global demand.Imports contracted an annual 21.15 per cent to $31.1 billion, also for the eleventh straight month, according to data released by the Commerce Ministry on Monday.This resulted in the trade deficit narrowing to $9.76 billion from $13.57 billion in October last year.
http://www.thehindu.com/todays-paper/tp-business/exports-shrink-trade-deficit-narrows/article7885242.ece
ICICI Bank to sell 6% stake in life insurance arm
ICICI Bank, the largest private sector lender, on Monday said it would sell 4 per cent stake in its life insurance arm to Premji Investments and its affiliates while another two per cent to Compassvale Investment Pte, a wholly owned subsidiary of Temasek, the Singapore government's investment vehicle.The deal values ICICI Prudential Life at Rs.32,500 crore, the bank said.
http://www.thehindu.com/todays-paper/tp-business/icici-bank-to-sell-6-stake-in-life-insurance-arm/article7885246.ece
MARKET
Sensex rises, rupee gains
The benchmark equity indices gained ground on Monday, ending a six-day losing streak. The rupee also strengthened against the dollar.The 30-share Sensex gained 149.57 points to end the day at 25,760.10.The broader Nifty of the National Stock Exchange (NSE) closed at 7,806.60, up 44.35 points. The indices opened weak on account of negative cues from global markets after the Paris attacks. The market breadth was flat with 1,363 stocks gaining ground on the BSE, as against 1,276 losers. Frontline stocks such as Tata Steel, State Bank of India, ITC, ICICI Bank, Cipla, and L&T advanced.
http://www.thehindu.com/todays-paper/tp-business/sensex-rises-rupee-gains/article7885249.ece
COAL
Era of coal shortage is over: Piyush Goyal
Shortage of coal in the country is a thing of the past, Minister for Power, Coal and New & Renewable Energy, Piyush Goyal, said on Monday, adding that India would not need to import coal by 2017, except to meet requirements of power plants located near the coastal area."I have been on record to say that by 2017, India should not need to import coal except for those coastal plants where it is very difficult to transmit coal. I am fairly confident that the era of shortages is over," the Minister said at an event here.
http://www.thehindu.com/todays-paper/tp-business/era-of-coal-shortage-is-over-piyush-goyal/article7885245.ece
India won't need coal imports by 2017: Piyush Goyal
Coal shortages will be a thing of the past and India won't need to import dry fuel by 2017, except to meet requirements of the power plants located near coastal area, Union Minister Piyush Goyal said today. "I have been on record to say that I judged that by 2017, India should not need to import coal except for those coastal plants where it is very difficult to transmit coal. I am fairly confident the era of shortages is over," Goyal said here addressing at a KPMG event ENrich 2015."At next level of UDAY we are looking at complete ability to exchange coal or to swap coal, complete synergy in the in power and coal sectors so that coal is used most efficiently by the most efficient power plants at the nearest location and power is transmitted rather than coal," said the Minister for Coal, Power and New & Renewable Energy.
http://www.deccanchronicle.com/151117/business-latest/article/india-wont-need-coal-imports-2017-piyush-goyal
ENERGY
For all that green energy, where's the grid?
India has set itself ambitious energy and emissions targets ahead of the Paris climate conference in December. Set against the government's 'Make in India' campaign to increase manufacturing's share of the economy and its ambition to bring 24x7 power to all by 2020, the scale of the challenge seems formidable.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/for-all-that-green-energy-wheres-the-grid/article7885160.ece
STATE
'Hyderabad can be a Smart City'
Can a burgeoning megapolis like Hyderabad with growing population be turned into a smart city?It could be if tried in a step-by-step by manner although the journey would be long. "Do it neighbourhood-by-neighbourhood," said James Brainard, Mayor of the Carmel city, USA, which he transformed into a thriving smart city in two decades.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/hyderabad-can-be-a-smart-city/article7885512.ece
World Bank, AP ink $75-m credit deal for rural project
The Centre, Andhra Pradesh and the World Bank have inked a $75 million ( Rs. 500 crore) credit deal for the Andhra Pradesh Rural Inclusive Growth Project.The project seeks to enhance agricultural incomes of small and marginal farmers and ensure increased access to services related to health, nutrition, sanitation and social entitlements.
http://www.thehindubusinessline.com/todays-paper/tp-news/world-bank-ap-ink-75m-credit-deal-for-rural-project/article7885140.ece
'Green' Amaravati in the making
In Amaravati, the new capital city of Andhra Pradesh, every multiplex, hospital, hotel and commercial buildings with plot area of more than 1,000 sq mts and built-up area of more than 2,000 sq mts will have to mandatorily incorporate energy-efficient designs from construction stage itself.Chief Minister N Chandrababu Naidu has asked the Capital Region Development Authority (CRDA) to work out the modalities and prepare a comprehensive report to ensure that all government constructions in the capital city will be green buildings.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/green-amaravati-in-the-making/article7885177.ece
Rs. 5,748 cr allotted to 5 States under AMRUT action plan
As many as 81 cities in five States will invest Rs.5,748 crore to enhance basic infrastructure, including water supply and sewerage connections, under the AMRUT action plan for 2015-16, a statement from the Ministry of Urban Development said on Monday."Central assistance will be provided to an extent of Rs. 2,440 crore while the rest would be contributed by five state governments (Tamil Nadu, Madhya Pradesh, Jharkhand, Odisha and Mizoram) and urban local bodies," the statement added.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/rs-5748-cr-allotted-to-5-states-under-amrut-action-plan/article7885175.ece
SPVs to play a crucial role in smart city implementation
Special purpose vehicles (SPVs) to implement the smart city projects will play a crucial role in the functioning of the cities concerned, according to A Ravindra, former Chief Secretary of Karnataka and Chairman of Smart Cities India Foundation.Making a presentation on 'Proactive policy formulation for smart cities' at the 'Smart Cities India' conference organised by Mangaluru City Corporation, here on Monday, he said the SPV, to be formed in association with the urban local body (ULB) concerned, will handle the smart city projects. The SPV will have the characteristics of a company.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/spvs-to-play-a-crucial-role-in-smart-city-implementation/article7885174.ece
Rain shuts down Chennai industrial estate
"I have no idea about the damage. I cannot even reach my factory because the area is flooded," says P Ganapathi of Continental Thermal Engineers. His is one of the several hundred units in the Ambattur Industrial Estate submerged in water overflowing from a nearby lake.V Raju, president of Ambattur Industrial Estate Manufacturers Association, said the entire North Phase of the industrial area is inundated and over 1,200 manufacturing units hit.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/rain-shuts-down-chennai-industrial-estate/article7885171.ece
Centre gets over two thousand suggestions on collegiumsThe Centre has forwarded to senior advocate Arvind P. Datar over 2,000 suggestions it had received till November 14 from across the country from people of all walks of life on improvement of the collegium system of appointment of judges to the High Court and the Supreme Court.The suggestions will be formulated under four heads, transparency, eligibility, secretariat for collegium and mechanism to deal with complaints by Mr Datar and submitted to the Constitution Bench headed by Justice J.S. Khehar on November 18.
http://www.deccanchronicle.com/151117/nation-current-affairs/article/centre-gets-over-two-thousand-suggestions-collegium
Choking air, melting glaciers: How global warming is changing India
Its Himalayan glaciers are melting fast, its agricultural heartland is drying up and its capital is choking on the world's filthiest air.Yet India's government is one of the few major economies refusing to pledge to cut greenhouse gas emissions, ahead of this month's major climate conference in Paris.Global warming is already changing the face of rapidly developing India, a nation forecast to become the world's most populous, overtaking China, in less than a decade.
http://www.deccanchronicle.com/151117/lifestyle-petsenvironment/article/choking-air-melting-glaciers-how-global-warming-changing
Telangana stares at debt trap
With its outstanding loans piling up each passing month, Telangana state is reeling under its interest burden. While the state government has earmarked Rs 7,554 crore in the Budget this year (2015-16) to pay the interest alone, it is feared that this may have to be raised to Rs 8,500 crore next year (2016-17).Going by the pace at which the TS government is securing loans at present, it will have to shell out over Rs 50,000 crore towards interest alone in the next five years. Officials say it's an alarming trend, wherein the growth of interest payments will be faster than the rate of growth of the economy in the coming years.As per the latest report prepared by the finance department on the financial condition of the state, the government paid Rs 5,184 crore towards interest on loans during the first year of formation of the state in June 2014, to March 2015 (a 10 month period).
http://www.deccanchronicle.com/151117/nation-current-affairs/article/telangana-stares-debt-trap-0
Sub-registrars root for digitisation of records
While old property ownership records — be it land or flats — from 1964 have been digitised in Hyderabad, it is not done in other districts of both TS and AP, making them vulnerable to mischief, fire mishap and damp.In future, litigations may increase if records are not digitised, warned officials. President of the Telangana Sub-Registrars' Sangham, Mr K. Vijay Bhaskar said, "Digitalisation of old records of all the sub-registrars' offices of the state should be done on priority basis, as was taken up and completed in Hyderabad.
http://www.deccanchronicle.com/151117/nation-current-affairs/article/sub-registrars-root-digitisation-records
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