Plan and Policy

Plan & Policy

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.

Caps on spectrum holding for telcos set to go up soon

A telecom operator buying out another telco may soon be allowed to hold up to 65 per cent of a specific band spectrum of the acquiring company, a development which will have significant impact on the sector which is witnessing a slew of M&As.

FM did not apply mind on GST, PM should remove him: Yashwant

Veteran BJP leader Yashwant Sinha today launched a fresh attack on the government, saying Finance Minister Arun Jaitley had not applied his mind while rolling out GST and should be removed from his post.

Sinha, who served as finance minister in the Atal Bihari Vajpayee government, said demonetisation has not achieved its goal of flushing black money out of the system.

He also charged the current regime with resorting to lies on the note ban and the new tax regime.

Rate on 200 items likely to be cut to 18%

A big relief ongoods and services tax (GST) front is on the way for consumers and businesses. The GST Council is all set to slash the rate on 200 daily use items from 28 per cent to 18 per cent, making them cheaper. In its two-day meet being held at Guwahati, the Council is also likely to ease compliance burden on small businesses.

Household items such as sanitary ware, suitcase, wallpaper, plywood and stationery articles would see the tax incidence coming down.

Put scrapping of road projects in abeyance, Gadkari tells NHAI

Days after the National Hi­g­hways Authority of India (NHAI) named 20 developers, including L&T and Hi­ndustan Construction Co­mpany, and sought to debar them from bidding for upc­oming projects, Union tra­nsport and shipping mi­nister Nitin Gadkari (in pic) has asked the regulator to put its decision in abeyance.

SBI chief hints at end of the rate cut cycle

SBI on Thursday virtually ruled out any softening of interest rates for lending, as there is little scope for doing so with bond yields rising. “It seems so”, SBI chairman Rajneesh Kumar said cryptically, in reply to a question if the rate cut cycle is over for now.

Pollution emergency in Delhi

Waking up to the alarming rise in air pollution in the national capital, the authorities have rolled out a multi-pronged strategy, including the tested odd-even scheme for regulating private car use, ban on construction activities and entry of trucks to Delhi except the ones carrying essential items, to deal with the emergency situation.

No MSP for seven kharif crops could cost farmers Rs 2L cr

Farmers in the country will lose as high as Rs 2.03 lakh crore in selling only seven kharif crops due to delay in implementing BJP’s election promise of fixing the support price at 50 per cent over their cost of production.

These crops include paddy, maize and soybean.

Calling it a plunder, leaders of All India Kisan Sangharsh Coordination Committee (AIKSCC) said 184 organisations in the country have come together to press for the demand that the government should implement its election promise in fixing the minimum support price (MSP).

45 towns identified as potential mega-cities

Forty-five cities, which include Nagpur, Lucknow, Jaipur, Kochi, Bhopal, Ah­medabad and Varanasi have been identified as potential mega-cities.

These cities can potentially see accelerated growth in the manufacturing, industrial, tourism and warehousing sectors and emerge as India’s new mega-cities, according to a report, jointly released by international real estate consultants, JLL India and Credai (the Confederation of Real Estate Developers Association of India). It also emphasised the need for new urban centers in the country.