A look at the headlines in the sector right now:

  1. World Bank reduces India’s GDP forecast from 7.6% to 7% for 2016-2017: The report said the Centre’s note ban would continue to affect business and household economic activities in the short term.
  2. Demonetisation has opened up economy, put India back on global radar, says Arun Jaitley: The Union finance minister said the Goods and Services Tax would help further by making the country ‘one common marketplace’.
  3. Sensex crosses 27,000 mark to end at a two-month high: Positive cues from Asian and European markets and anticipation over Donald Trump’s first press conference as US president-elect influenced the numbers.
  4. Demonetisation drags December automobile sales growth to 16-year low, says report: Sales of two-wheelers and three-wheelers were hit the hardest, particularly in rural areas, said data from the Society of Indian Automobile Manufacturers.
  5. Trai allowed Reliance Jio to flout regulations, Airtel alleges in new affidavit, say reports: The operator accused the telecom authority of failing to hold the new entrant accountable for violating the interconnect usage base charge of 14 paise a minute.
  6. SC gives Vijay Mallya three weeks to respond to banks’ plea seeking $40 million from him: The SBI-led consortium has accused the beleaguered businessman of violating court orders by transferring money – given to him by Diageo – to his son.
  7. Centre tells EC Budget cannot be postponed despite upcoming Assembly elections: The government told the poll panel that the Budget date needed to be advanced so that adequate provisions are allocated across sectors before April 1.