A look at the headlines in the sector right now:
- Surcharge on card payments will not be levied on petrol pump owners, customers, says petroleum minister: Dharmendra Pradhan said talks were on between banks and oil marketing companies to find a solution to this impasse.
- Direct tax collection rose by 12.01%, indirect tax by 25% between April and December, says Arun Jaitley: The value-added tax collected in most states had also increased in the same period year on year, the finance minister said.
- Vodafone India mulling a merger with Reliance Jio or Idea: The Telegraph reported on a possible tie-up, though experts feel the Indian arm of the telecom company might go for a buyout instead.
- Air India ranked world’s third-worst performing airline: Global aviation insights company FlightStats compiles the list every year based on the on-time performance records of international carriers.
- Indian markets close marginally lower after trading flat: There was a spurt in buying activity in the FMCG, basic materials, banking and realty sectors.
- There will be a 60% drop in employment in micro, small-scale industries by March 2017, finds study: In the first 34 days since the currency ban, the All India Manufacturers’ Organisation found 35% job losses and a 50% dip in revenue in the sector.
- Centre asks local mobile phone makers to create handsets that cost less than Rs 2,000: Micromax, Intex, Lava and Karbonn were reportedly given the direction at a recent meeting with Niti Aayog, as part of the government’s campaign to promote digital transactions.