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Today Sector News – 29.05.2018

Today Sector News – 29.05.2018


* AGRICULTURE: More than 110 farmer outfits across the country have planned a nationwide strike from Jun 1-10 to press for demands like higher rates for their produce, complete loan waiver, payouts to small farmers to match their income with that of a class IV government employees, and lifting the ban on cow slaughter.

* ECONOMY: Government bond yields, which have jumped by around 130 basis points since August, may have "peaked out", Economic Affairs Secretary Subhash Chandra Garg said today.

* FINANCE: The public issue of non-convertible debentures by JM Financial Credit Solutions has seen robust subscription, with the base issue size of 3 bln rupees being fully subscribed on the first day itself.

* HEALTHCARE: The Delhi government has issued draft rules to regulate the profit margins of private hospitals and curb unethical practices.

* OIL AND GAS: The government is expected to soon come out with a "long-term" map or solution on how to deal with high prices of crude oil and fuel, while being fair to consumers, the country's fiscal health, and the oil companies, Economic Affairs Secretary Subhash Chandra Garg said. India on Monday said it had no plans to use Venezuela's local cryptocurrency 'petro' in oil trade with the Latin American nation, which is facing sanctions from the US.

* POWER: Moscow-headquartered Inter RAO Export has signed a memorandum of understanding with Essar Power to jointly develop power projects, the company promoted by Ruia brothers said.

* REGULATORY: The Securities and Exchange Board of India has started investigating last week's technical glitches and trading halts at the National Stock Exchange and Multi Commodity Exchange.

* STEEL: The National Company Law Appellate Tribunal will today hear lenders who pleaded that cases related to Essar Steel be heard at the earliest.

* TAXATION: The government has clarified that there is no change in the goods and services tax law related to farmers and services supporting agriculture, forestry, fishing and animal husbandry, and it remains exempted from the new indirect tax regime.

* TELECOMMUNICATION: The Department of Telecommunications and Department of Industrial Policy and Promotion will write to states to ensure implementation of right of way rules, and for lowering the cost of setting up network, as part of a joint exercise for smoother conduct of business. The telecom department will hold deliberations on Wednesday with stakeholders, including Telecom Regulatory Authority of India, on standards and regulatory issues related to the launch of 5G services in the country.

* TRADE: India's trade with Iran will continue despite sanctions imposed by the US, as New Delhi recognises restrictions imposed only by the United Nations, Foreign Minister Sushma Swaraj said.