The newsletter provides updates on economics, corporate law, RBI/tax law, and markets. It notes that India's revenue from Africa can potentially grow four-fold to $160 billion by 2025 through greater presence in sectors such as IT, agriculture, infrastructure, pharmaceuticals and consumer goods. The RBI was a net seller of dollars for the first time in four months since a new governor took over. The Delhi Electricity Regulatory Commission has worked out a plan to allow the city's three private electricity distributors to recover dues totaling Rs 8,000 crore over eight years beginning 2014-15.

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PGC
NEWSLETTER
11th
March 2014
THOUGHT OF THE DAY
“Don’t wait for the perfect moment
Take the moment and make it perfect”
ECONOMICS NEWS
• India's revenue from Africa can potentially grow four-fold
to $160 billion by 2025 through greater presence in
sectors such as IT, agriculture, infrastructure,
pharmaceuticals and consumer goods, according to a
McKinsey report released Monday.
• The Reserve Bank of India was net seller of dollars for the
first time in four months since Raghuram Rajan took over
as the governor.
CORPORATE LAW UPDATES
• Corporate affairs ministry sends notices to auditors in
NSEL, FTIL case
• The Delhi Electricity Regulatory Commission has worked
out a plan to allow the city's three private discoms
recovery of dues totalling Rs 8,000 crore over eight years
beginning 2014-15.
RBI / TAX LAW UPDATES
• Consideration paid by Indian customers or end users to
assessee, a foreign company, for transfer of right to use
software/computer programme in respect of copyright
falls within mischief of 'royalty'.
• Where TPO selected a company as comparable on basis of
information obtained under section 133(6), non-
furnishing of such information to assessee would vitiate
selection of that company.
MARKET UPDATES
SENSEX
21,856.28 -78.55
CNX NIFTY
6,513.95 -23.30
DOLLAR/ RUPEE
60.63 -1.21
MCX SILVER
45854.0 -0.27
MCX GOLD
29,986.00 -137.00
MCX CRUDE OIL
6135.0 -0.71
Dow Jones Industrial
Average
16,418.68 -0.21
Nasdaq Composite
4334.45 -1.77