The back series GDP data released last year captured the structural changes in the economy and provided a better reflection of the macroeconomic aggregates, Parliament was informed on Thursday.
Plan and Policy
Plan & Policy
The telecom department is in discussion with the space department to set up a network of satellite for communication services across the country, an official source said on Thursday.
“DoT is working to set-up network of low earth orbit (LEO) satellite and medium earth orbit (MEO) satellite for telecom services. The entire expenses will be borne by the telecom ministry. Discussion in this regard has already started with Department of Space,” the source told.
The Department of Atomic Energy (DAE) informed Parliament on Thursday that 21 new nuclear power reactors with a total installed capacity of 15,700 MW are expected to be set up in the country by 2031.
It also informed Parliament that five sites — which would have total 28 nuclear reactors — have been accorded 'in principle' approval by the central government.
The printing of Rs 2000 banknote, introduced post-demonetisation in November 2016, has been reduced to the "minimum" by the Reserve Bank, a top finance ministry official said Thursday.
Soon after the sudden decision to ban old Rs 500/1000 currency notes by the government, the Reserve Bank had come out with the Rs 2000 currency note along with a new look Rs 500 note as part of its massive remonetisation exercise.
The Supreme Court on Thursday expressed dissatisfaction over the steps taken by the Meghalaya government to rescue 15 miners trapped in an illegal coal mine since December 13, saying prompt, immediate and effective operation is needed to rescue them as it was a matter of life and death.
A parliamentary panel Thursday suggested strengthening of penal provisions in the Banning of Unregulated Deposit Schemes Bill with a view to protect the interest of gullible investors.
The bill proposes to ban deposit takers from promoting, operating, issuing advertisements or accepting deposits in any unregulated deposit scheme.
The bill also recommends deterrent punishment for promoting or operating an unregulated deposit taking scheme and also stringent punishment for fraudulent default in repayment to depositors.
The National Company Law Appellate Tribunal on Thursday asked the Ahmedabad bench of National Company Law Tribunal to expeditiously take a final decision in the Essar Steel insolvency case, where ArcelorMittal has emerged as the highest bidder. A two-member bench, headed by NCLAT chairman Justice SJ Mukhopadhayam asked the NCLT bench to take an early decision in the matter as per the order passed by the Supreme Court in this regard.
A recent Supreme Court order on December 14 in an insolvency case involving a Chennai-based firm could come to the aid of the Ruias who are battling to keep Essar Steel within the Essar Group fold.
The Ruias had, in a last-minute move, proposed to withdraw insolvency proceedings against Essar Steel and offered to pay Rs 54,000 crore to the lenders. But the committee of creditors (CoC), comprising Essar Steel lenders, had chosen to go with ArcelorMittal’s offer of Rs 42,000 crore. The Ruias had appealed against this and seem to have another argument to support their case.
The new farm-focussed direct benefit transfer (DBT) scheme, to be announced by the government soon, may bring some respite to farmers battered by rising debt and falling prices for the farm produce.
As part of immediate relief measure, the government will offer Rs 3,000-4,000 per acre to each farmer for every season. The amount, to be transferred to farmers bank accounts, will vary from state to state.
The finance ministry and the RBI are set for deep engagement in the next 15 days.