Plan and Policy

Plan & Policy

FY19 fiscal deficit likely to stay below budgeted level of 3.3%

Finance minister Piyush Goyal has said India will be able to restrict the fiscal deficit below the budgeted level of 3.3 per cent of GDP (gross domestic product) in 2018-19, which has hit 55 per cent of the annual target in the first two months of the financial year.

He said the revenues from goods and services tax (GST) in the current fiscal is expected to exceed Rs 13 lakh crore as the full benefits of electronic way of e-way bill starts flowing in.

Infra sector growth dips to 10-month low of 3.6% in May

Growth of eight infrast­r­ucture industries drop­p­ed to a 10-month low of 3.6 per cent in May due to a decline in production of cr­ude oil and natural gas.

The eight sectors, which also include coal, refinery products, fertilisers, steel and cement, had expanded by 3.9 per cent in May 2017, according to the data released by the commerce and industry ministry on Monday.

This is the lowest growth rate since July 2017 when infrastructure industries had expanded by 2.9 per cent. The growth rate in April was 4.6 per cent.

India to provide tariff concessions on 3,142 items to APTA members

India has agreed to provide tariff concessions on 3,142 products to Asia Pacific Trade Agreement (APTA) members, including Bangladesh and Sri Lanka, from July 1, the commerce ministry said on Monday.

However, these duty concessions will be more for least developed countries (LDCs) and less for developing nations. APTA is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region. It is in place since 1975.

Relatives dismiss suicide pact theory, allege family was killed

As mystery deepened over the deaths, two members of the extended Bhatia clan insisted on Monday that their relatives were killed and did not commit suicide. Police are investigating whether the 11 members of one family aged between 15 and 77 killed themselves on Sunday as part of a suicide pact after they found handwritten notes from the house, which indicated a “religious or spiritual angle” to the deaths.

Cong, NC rule out any govt formation attempts in J&K

Amid reports of the National Conference and the PDP approaching the Congress for government formation in Jammu and Kashmir, National Conference (NC) leader Omar Abdullah on Monday said the party will not be part of any attempts at government formation in the state as it does not believe in sacrificing ideology for power.

 The Congress is in a wait and watch mode in the state, which is under Governor’s Rule after the BJP pulled out of its alliance with the PDP and senior Congress leader Ghulam Nabi Azad has ruled out that the party will form a government with the PDP.

Burari deaths: 8 victims showed no signs of struggle

The Delhi Police on Monday launched a manhunt for a tantrik ‘Baba Janegadi’ in connection with the Burari case even as bodies of the 11 members of the Bhatia family, who were found dead in their house in North Delhi’s Burari area were cremated at the Nigambodh Ghat on Monday. Ten of the 11 members of the Bhatia family were found hanging from an iron-mesh in the ceiling yesterday, while the body of 77-year-old Narayani Devi, the head of the family, was lying on the floor in another room of the house.

May retail inflation for industrial workers remains flat at 3.96%

Retail inflation for industrial workers remained flat at 3.96 per cent in May compa­r­ed with 3.97 per cent in Ap­ril this year, a labour ministry statement said on Monday.

According to the stateme­nt, the food inflation based on CPI-IW (consumer price index-industrial workers) st­o­od at 1.66 per cent in May against 1.33 per cent in the previous month and (-) 1.63 per cent during May 2017.

Is govt planning to go soft on defaulters?

Union minister Nitin Gadkari on Monday warned that taking action against every defaulting entrepreneur will chill economic activity and the country will be left with no people willing to take business risks.

Modi: Govt did what it could with ‘sincerity’ for A-I

Prime minister Narendra Modi has said the government has done what it had to with “utmost sincerity” for Air India and emphasised the need to differentiate between lack of response to one sale offer and a policy decision. The government has cleared the sale of Air India and several other loss-making public sector companies but that they are yet to be sold is the “result of timing and process,” Modi said. His remarks come against the backdrop of the government’s proposal for strategic disinvestment of debt-laden Air India failing to attract any bidders.

Political circles abuzz with talk of early Lok Sabha polls

The monsoon session of Parliament will start on July 18 amid a renewed buzz that it might be the last sitting of the present Lok Sabha as the government is likely to call for a fresh mandate this year itself. The opposition is not sure about the government’s move, but BJP president Amit Shah’s nation-wide tour is being seen as a preparation for the elections.

The Modi government will complete its term in May 2019. Before that assembly elections are scheduled in Madhya Pradesh, Rajasthan and Chhattisgarh, three key BJP-ruled states.