Plan and Policy

Plan & Policy

Cloud hangs over Chidambaram as PAC zeroes in on 80:20

With pressure mounting on the government to ensnare economic offenders like Nirav Modi and Mehul Choksi, finance ministry mandarins are likely to share all details related to the 80:20 gold import scheme with Parliament’s Public Accounts Committee (PAC) in the short term. PAC has zeroed in on the 80:20 gold scheme as they believe that massive jiggery pokery has taken place, a fact substantiated by the CAG performance audit report No 6. This dramatic move comes after BJP members of the panel alleged it was misused by jewellers, including Mehul Choksi for money laundering.

Higher duty of palm oil may help neither farmers nor users

The government decision to steeply raise import duty on palm oil and chana will hit consumers, as they will be forced to pay more for these commodities given domestic shortages and dependence on imports.

Prices of these commodities in the domestic market have already seen a 2.5-3 per cent increase. Analysts are projecting a further rise if global producers do not cut prices to maintain their export consignment meant for their largest customer — India. Select edible oil prices have already risen by up to Rs 100 per quintal at the wholesale oils and oilseeds market.

SFIO to summon Nirav

The Serious Frauds Investigation Office (SFIO) will shortly issue summons against Nirav Modi (in pic), the kingpin in the over Rs 12,000-crore PNB fraud. The agency is also likely to seek extension of timeline to complete probe to a minimum of one year. “SFIO wants to summon Nirav Modi to confront him on the alleged bogus companies floated by his firms to fraudulently get bank credit once we have substantial evidence to pin him.

Rio has majority, should form govt: Nagaland Guv

Neiphiu Rio has the majority and should form the government, Nagaland governor PB Acharya said on Sunday after a meeting with the NDPP leader, who claimed he has the support of 32 MLAs in the 60-member Assembly. Acharya said he has asked Rio to submit signatures of all the 32 MLAs supporting him by Monday.

Conrad Sangma stakes claim to form govt

NPP president Conrad Sangma met Meghalaya governor Ganga Prasad this evening and staked claim to form the government in the state with the support of 34 MLAs in the 60-member Assembly.

PNB fraud: NCLT bars 60 entities from selling assets

Amid the ongoing multi-agency probe into the Rs 12,700 crore Punjab National Bank scam, NCLT has restrained more than 60 entities, including Nirav Modi, Mehul Choksi, various individuals, companies and limi­t­ed liability partnership fir­ms, from selling their assets.

The National Company Law Tribunal (NCLT) have passed directions against Ni­r­av Modi and Mehul Cho­ksi, the alleged main perpetrators of the fraud, as well as their firms and relatives, am­ong other entities, as per an announcement by the corporate affairs ministry.

6.5-7% growth rate is very reasonable: NITI

Being vice-ch­airman of government th­i­nk-tank Niti Aa­yog, Rajiv Kumar is playing key role in translating prime minister Narendra Modi’s vision for a “New India”. His policy prescriptions are expected to speed up the growth that benefits one and all. One of the country’s leading economists, Kumar has endorsed the government’s decision to demonetise high-value notes to contain black money and steps to formalise the economy.

Akash Ambani to wed Shloka Mehta this year?

Is Shloka Mehta, the you­ngest daughter of diamantaire Russell Mehta, the girl Akash Ambani, the scion of India’s richest family, slated to marry later this year? The answer is yes if sources are to be believed.

While the two families have refused to comment on the wedding, if sources are to be believed an announcement of engagement can be made in next few weeks with wedding being planned for early December.

Who let the ghosts out: Spectres haunt lawmakers

An opera of phantoms is playing out across the country. And in the audience are sections of spooked out lawmakers.

A spectre seems to be haunting legislators in the states — from Bihar and Rajasthan to Madhya Pradesh and Arunachal Pradesh. And they are looking at ways of dealing with spooks with the help of purification rituals or by simply steering clear of what they believe are ghost-filled houses.

Oppn set to corner govt in Parliament on bank scams

The second part of Parliament’s Budget Session is likely to begin on a stormy note with the Congress and other opposition parties set to raise the issue of multi-crore financial scams involving public-sector banks in both the Houses. The Lok Sabha and Rajya Sabha will meet on Monday after a month-long recess in the session.