Good Morning! News 14.11.2014 1. India and the US have agreed to bury their differences over farm subsidies, which might break the logjam at the World Trade Organization (WTO) and pave the way for future implementation of the Trade Facilitation Agreement (TFA) to ease global customs norms. 2. The logjam between the defence ministry and the department of telecommunications (DoT) over the vacation and swapping of spectrum is close to getting resolved, with communications and IT minister Ravi Shankar Prasad slated to meet defence minister Manohar Parrikar soon. 3. India Post and mobile companies have a good chance of getting a payments bank licence, according to the Reserve Bank of India (RBI), which is expected to come out with detailed guidelines by the end of the month. Besides, successful microfinance institutions may get a chance to migrate to commercial banking. 4. India on Thursday increased excise duty on petrol and diesel by Rs.1.50 per litre, but customers won’t feel the pain as state-owned fuel retailers, which make a profit on the sale of these fuels, will absorb the hike. The government hopes the duty hike will fetch Rs.6,000 crore in the rest of the fiscal year, helping it shore up revenue collections and rein in the fiscal deficit. 5. Rahul Sharma, co-founder of the most successful homegrown mobile handset maker, Micromax, has incorporated a new company in which he will control 99.9 per cent stake. The company plans to launch a new brand over the next few months.
Posted on: Fri, 14 Nov 2014 04:03:19 +0000
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