Plan and Policy

Plan & Policy

Bharatmala network puts 25 toll road projects at risk

Around 25 toll road projects with an Rs 19,435 crore debt are at risk due to the planned economic corridors under the Bharatmala project, says a report.

The Bharatmala network designed on the shortest possible route connecting the origin and destination is bound to impact the existing network by directly competing with a few stretches including some of the existing BOT (build, operate and transfer) road projects, rating agency Icra said.

Banks to create special clearing window for govt accounts on Mar 31

The Reserve Bank of India (RBI) has directed all banks to participate in the special clearing operations to be he­ld on March 31 to clear government accounts. RBI said on Thursday a special clearing will be conducted on March 31, 2018, at all clearing houses across the country to facilitate accounting of all government transactions for the current financial year that ends this month.

Unemployment major challenge for India: IMF

Acknowledging that unemployment is a major challenge that India is facing currently, the International Monetary Fund (IMF) on Th­u­rsday exuded confide­nce that the reforms being carried out in India in the last few years would end up creating new jobs.

“Clearly India faces a ch­allenge in terms of providing sufficient employment for a number of people looking for work and particularly young people. But yes, the measur­es and the reforms that India is undertaking will over me­dium term create jobs,” IMF spokesperson, Gerry Rice, told reporters at a news conference in Washington.

CBSE paper leak: Students take to streets demanding accountability

Students took to the streets on Thursday to protest the CBSE’s decision to hold re-examination of Class 10 Mathematics and Class 12 Economics papers, after reported leak of the two papers, even as the Congress demanded sacking of HRD Minister Prakash Javadekar and the board chairperson.

Amid massive protests over the paper leaks issue, Javadekar, however, put up a brave face and said the culprits will not go scot-free. He said that the CBSE will declare the date of re-examination probably on Monday or Tuesday. “We have also instituted internal inquiry,” he said.

FinMin may seek overturn of RBI’s 1-day default report norm

The government has started discussions with the Reserve Bank of India (RBI) on relaxation of banking regulator’s bad loan identification and reporting guidelines under which even a one-day default can lead to classification of a loan as a special mention account (SMA).

FinMin may nudge RBI to roll back ban on LoUs

The finance ministry may ask the Reserve Bank to reconsider the ban on letters of undertaking (LoUs), a key import financing tool, as demands from industry and banks to reintroduce this mechanism is gathering steam. The government wants stiff inbuilt safeguards in LoUs instead of a bar on them.

Centre seeks report from West Bengal govt on violence

The Centre has sought a report from the West Bengal government on incidents of arson and violence during Ram Navmi processions in the last two days and offered assistance to deal with the situation, an official spokesperson said.

April-February fiscal deficit touches 120% of full-year target: CGA

India’s fiscal deficit soared to Rs 7.15 lakh crore at the end of February, exceeding the revised target of Rs 5.94 lakh crore for the 2017-18 financial year. As per data released by the controller general of accounts (CGA), fiscal deficit for April-February was 120 per cent of the rev­ised estim­ates on account of increased expenditure and subdued revenue receipts.

Exports from SEZs up 18% in February

Exports from special economic zones (SEZs) grew 18 per cent in February to Rs 22,364 crore compared with the year-ago month, EPCES said on Wednesday.

EPCES said the maj­or sectors recording he­a­lthy growth include ch­emicals, pharmaceutic­a­ls, electronics, engine­ering, plastics, rubber, and gems and jewellery.

“Total exports in February this year from SEZs amounted to Rs 22,364 crore against Rs 18,990 crore in February 2017,” the Export Promotion Council for SEZ and Export-Oriented Unit (EPCES) said in a statement.

Rahul meets Twitter influencers, takes dig at BJP over media sting

Unperturbed by the government’s onslaught linking Congress with dubious social media company Cambridge Analytica, party president Rahul Gandhi on Wednesday calmed those mocking him on Twitter by saying that he doesn’t hate those who earn a living out of spinning lies about him.