Plan and Policy

Plan & Policy

Demonetisation helped formalising large part of economy: Modi

The demonetisation of high-value currency notes along with a series of other reform measures have resulted in formalising a large part of the Indian economy, Prime Minister Narendra Modi said here today.

In an address at an ASEAN business forum, Modi also highlighting rolling out of the Goods and Services Tax (GST) as well as measures for bankruptcy and insolvency proceedings, besides the linking of Aadhaar database with financial transactions as part of broader policy initiatives to bring transparency in the financial sector.

Odd-even: AAP govt moves NGT seeking modification of its order

The Delhi government today moved the National Green Tribunal seeking modification of its November 11 order refusing to exempt women and two-wheelers from the odd-even car rationing scheme to tackle pollution.

The application, filed before a bench headed by NGT Chairperson Justice Swatanter Kumar, sought exemption of women drivers from the scheme, saying it may affect the safety and security of women.

It sought that the exemptions be allowed for one year till the government procured 2,000 buses for public transport to tackle lakhs of commuters.

Govt to dispose of 5 lakh tons of pulses buffer stock by March

The Centre, which is sitting on a buffer stock of 18 lakh tonnes of pulses, is aiming to dispose of up to 5 lakh tonnes of lentils by March 2018, a senior food ministry official said today.

Last week, the cabinet committee on economic affairs (CCEA) gave approval for distributing a part of the pulses buffer stock to central schemes like Midday Meal and other state-run agencies besides state governments.

"The recent CCEA approval will help clear at least 3.5 to 5 lakh tonnes of pulses from the buffer stock by end of this fiscal," the official told PTI.

October CPI seen at 3.45%

Retail inflation in the country may have inched higher in October owing to increase in prices of miscellaneous and personal care items and impact of rise in housing rent allowances, but will remain well below the Reserve Bank of India’s (RBI) medium-term outlook of 4 per cent, according a poll of economists.

India consumer price index-based inflation, the key policy target of the central bank is likely to have quickened to 3.45 per cent in October from 3.28 per cent in September, according to the median estimate of 18 economists polled by TickerNews.

Rahul targets Modi, Rupani over Sebi fine issue

Congress vice-president Rahul Gandhi targeted Gujarat Chief Minister Vijay Rupani on Sunday over the SEBI slapping fine on his firm for alleged manipulative share trade, and asked the prime minister to speak out on the issue.

Speaking during his poll campaign tour of Gujarat, he claimed that the share market regulator has termed Rupani "beimaan" (dishonest) and imposed fine on him.

Gandhi asked Prime Minister Narendra Modi to speak out against his "dishonest" chief minister.

Winds of change, says Cong after MP assembly bypoll win

The Congress's victory in the Chitrakoot Assembly bypoll in Madhya Pradesh signals the "winds of change" blowing in the political landscape in the country, its chief spokesperson said on Sunday.

Taking to Twitter, Congress's chief spokesperson Randeep Singh Surjewala thanked the voters for reposing faith in the party.

Banks won’t get easy money under recap plan: Banking secy

State-owned banks will not get easy money and they would have to go in for reforms for claiming a part of the Rs 2.11 lakh crore recapitalisation plan cleared last month.

“Everything is linked to reforms, which each board will consider within a short time as to what kind of business and how they want to go ahead. It’s not easy money which is going to come, that is the main point. It has to be followed with a whole lot of reforms,” said financial services secretary Rajiv Kumar.

SMEs decry GST rate cut, say it’s all politics

Big political parties are indulging in a slugfest over owning credit to GST Council slashing rates last week. But small manufacturers are far from being upbeat. They termed the government decision as “just tinkering of some provisions.”

The SME (small and medium enterprises) sector’s demand for structural change in GST regime has not been met in spite of the fact that it is the largest employer in the country, they said. Small manufacturers further alleged that the move to slash GST rates is populist in nature and is aimed at winning elections.