News digest: PM forms EAC, markets fall, Antrix to sell map data, and more

PM revives Economic Advisory Council

While the country waited for steps to boost economic growth, the government on Monday announced setting up an Economic Advisory Council to the Prime Minister (EAC-PM), headed by Bibek Debroy. Read More

PM Modi promises to light up all homes by 2018-end with Rs 16k-cr scheme

Setting the bar for higher government spending in the infrastructure sector, Prime Minister Narendra Modi on Monday unveiled a flagship programme called “Saubhagya — Pradhan Mantri Sahaj Bijli Har Ghar Yojana” to provide power to all households in the country by December 2018. The Rs 16,320-crore scheme aims at providing “last-mile electricity connectivity to all rural and urban households”.  Read more

Markets fall 2.4% in five sessions

Concerns of economic slowdown continued to weigh on Indian equities, as the benchmark indices closed in losses for a fifth session in a row on Monday. While the benchmark Sensex lost 295 points or 0.93 per cent to close at 31,626, the National Stock Exchange’s Nifty closed at 9,872, 92 points or 0.92 per cent lower. This takes the total fall in the past five sessions to 2.4 per cent.  Read more

Antrix to sell map data to local companies

Antrix Corporation, the commercial arm of the Indian Space Research Organisation (Isro), is looking to sell map data to local companies for building highways, and help truck operators firm up routes and car-service providers map cities. Read more

GMR builds cash pile on divestment plank

On November 8, 2016, the GMR Group signed an agreement with the Goa government for developing an international airport. The event was preceded by months of speculation that the group would divest stake in its airport portfolio. But, as it turned out, GMR had further entrenched itself in this business, 10 years after it started operating Delhi International Airport Ltd (DIAL). Read more

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