Page 13 - Banking Finance MAY 2017

ROUNDUP

INDUSTRY

NEWS
NEWS
NEWS
NEWS
NEWS

Sensex at BSE closes at Rajasthan levies 10 % surcharge on stamp duty for

30,000 for the first time cow protection
The benchmark Sensex at Bombay Conservation of cows in Rajasthan will entail a cost for those making rent agree-
Stock Ex- ments, mortgage papers and lease agreement as they will
change has now pay a surcharge of 10 per cent on stamp duty for cow
closed above protection. The surcharge has been imposed on all non-judi-
the 30,000 cial instruments for the conservation and propagation of cows
mark for the in BJP-ruled Rajasthan.
first time ever. Mutual fund inflows
and FPI (Foreign Portfolio Investor) Full-fledged agency for PDMA from 2018
fund flow data over the last three The Finance Ministry is mulling to set up a full-blown independent public debt
years shows that the rally this time management agency by the end of 2018 to man-
is more Made in India as retail inves- age government borrowing programme. At
tors uprooted foreign portfolio inves- present, the government debt, including market
tors to emerge as the biggest partici- borrowings, is managed by the Reserve Bank. As
pant and, thereby, the beneficiary of an interim arrangement for a full-fledged agency
the surge in Indian equities. for managing public debt to be called as Public
Private companies to run Debt Management Agency (PDMA), the government last year set up the Public
Debt Management Cell (PDMC) at RBI's Delhi. PDMA is likely be functional in
their freight train from the last quarter of 2018, sources said.

own terminals
Centre and state to have 50% equity shares in Railways
Private companies will soon be able
to run freight The Railways will have joint venture arrangements under which the Centre and
trains from States will have 50 per cent equity each and joint
their own pri- ownership in rail projects, aiming to speed up their
vate termi- implementation and improve coordination with State
nals, a move governments. "The new company formed will have
by Railways which could potentially representatives from State governments on the
break the monopoly of the national Board of Directors. They will decide on the project's
transporter. Companies from sectors priorities and its implementation," Railways Minis-
such as cement, steel, auto, logistics ter Suresh Prabhu said during Question Hour in the Rajya Sabha. He observed
and fertilisers have evinced interest. that 17 States have agreed to the new arrangement as of now.

BANKING FINANCE | MAY | 2017 | 13

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010