The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
FinMin has already sought inputs from different central ministries for the Budget speech, which would be the last Budget of the current BJP-led NDA government before the 2019 general polls.
The Central Bureau of Investigation will be filing a fresh case in connection with alleged irregularities in connection with allocation of coal blocks by the end of this month in which it may name a corporate and certain former officials of the Union coal ministry.
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Britain said it had imposed asset freezes on Chelsea soccer club owner Roman Abramovich
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
The companies are crying foul over the cancellation of 25 blocks held by 68 firms over the past two days.
Ex-coal secy HC Gupta and other officials were later granted statutory bail as the jail term was below four years.
SAIL chairman Sushil Kumar Roongta had recently said the company was looking to issue additional equity in the market.
The state government had recommended prospecting licence in favour of Posco-India thrice, but was unable to get them through.
Enunciating slew of measures initiated by the UPA to augment the sector, the finance minister said 19 oil and gas blocks were given out for exploration and 7 new airports are under construction.
Cement production contracted by 2.7 per cent as against an expansion of 6.2 per cent in October 2016.
The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 5.7 per cent in January 2016.
The development comes in the wake of a high-level panel formed to address issues impeding mega projects in the steel sector, reviewing the stalled projects this month.
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
The highest water-use efficiency of more than $ 50 per cubic metre is in Oceania, Australia, New Zealand, Singapore, Israel, Denmark, Finland, and Great Britain while the lowest is in Central and South Asia, including India, at less than $ 10 per cubic metre.
After rallying 543 points in the morning session and touching the 40,000-mark, the BSE Sensex surrendered all gains to close at 38,628.29, showing a loss of 839.02 points or 2.13 per cent. Similarly, the NSE Nifty tanked 260.10 points or 2.23 per cent to end at 11,387.50.
It was 55.3 per cent for the same period last year, and data shows the fiscal deficit for April-May was kept in reasonable check in spite of heavy frontloading of expenditure.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
Bids for eight coal blocks were sent for re-examination.
The NINL management can see this as their moment of giving back to the nation and humanity. Its plant has an oxygen unit that can produce 418 tonnes of oxygen every day. 418 tonnes is about 58% of Delhi's daily demand for oxygen, notes Sudhir Bisht.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Top gainers in the Sensex pack included Maruti, Bajaj Finance, Vedanta, HDFC twins, HUL, Kotak Bank and ICICI bank, which surged up to 3.36 per cent.
The growth rate in September too was 3.2%.
By refusing permission for the proposed ship-breaking facility, India can send a categorical message to the foreign ship owning countries that they should keep their own waste and recycle
Cumulatively, the eight core sectors grew by 4.2 per cent in 2017-18, lowest in the last three financial years.
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
However, production of coal, crude oil and natural gas declined in April this year.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
Yuan's fall would worsen India's trade deficit with China.
The government has already decided to accord priority to fertiliser and power units for allocation of gas from the Krishna-Godavari basin. According to sources, the empowered group of ministers on gas, which met last week, has made it clear it will be able to provide additional gas to steel firms only after meeting the requirements of the power and fertiliser units. Among the steel majors, Essar, Ispat and Vikram Ispat have gas-based units.
IIP is expected to post a subdued volume growth in February 2017
'I suspect the recovery that the banks are going to get out of this IBC is not going to be more than 30 per cent.' 'If you leave the steel industry aside, the recovery rates are not looking very, very healthy,' Jairam Ramesh tells the Rajya Sabha.
Top gainers in the Sensex pack included HCL Tech, Tata Motors, M&M, Bajaj Auto, RIL, Hero MotoCorp, Yes Bank, Maruti, HDFC Bank and Bajaj Finance, which surged up to 6.43 per cent.
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