Plan and Policy

Plan & Policy

Mevani makes Delhi debut with scathing attack on Modi

Gujarat MLA Jignesh Mevani, who is accused of inciting caste violence in Pune’s Bhima-Koregaon area, came out all guns blazing against prime minister Narendra Modi at his Yuva Hunkar rally that took place in Parliament Street here on Tuesday, despite the denial by police to hold such a gathering.

Most first-time jobbers get below Rs 25,000 a month

Majority of young graduates get less than Rs 25,000 for their first job. No wonder, many of them leave their first job within one year for better professional growth and job opportunities.

As per a survey by Monster.com, 76 per cent of youngsters across different sectors are paid less than Rs 25,000 a month from their first job. Only 17 per cent ea­rned between Rs 25,000 and Rs 45,000 monthly. As a result, around 60 per cent of the respondents left their fir­st job for professional growth and work opportunities and 29 per cent exited their first job in less than one year.

Rs 6,000 cr Bharat-22 ETF round II fund raising likely in Feb

Buoyed by success of the first tranche of receipts, the finance ministry is finalising plans to launch another round of fund raising thro­ugh the exchange-traded fund (ETF) Bharat-22.

It plans to raise about Rs 6,000 crore and bridge the shortfall in government revenues to tide over the fiscal deficit. The second round is likely to be launched by the middle of February and the government is hopeful about a similar response as in the first tranche, sources said.

Rs 6,000 cr Bharat-22 ETF round II fund raising likely in Feb

Buoyed by success of the first tranche of receipts, the finance ministry is finalising plans to launch another round of fund raising thro­ugh the exchange-traded fund (ETF) Bharat-22.

It plans to raise about Rs 6,000 crore and bridge the shortfall in government revenues to tide over the fiscal deficit. The second round is likely to be launched by the middle of February and the government is hopeful about a similar response as in the first tranche, sources said.

DoT relaxes curbs on spectrum trade, holdings

The Department of Telecom (DoT) on Tuesday approved regulator Trai’s recommendations on relaxing the spectrum caps in a circle or in bands, a decision that would facilitate smooth consolidation and spectrum trading in the highly competitive telecom sector.

Govt asks CPSEs to consider taking over stressed infra assets under IBC

The government is improving the terms of endearment as far as stressed assets are concerned.

It has asked infrastructure sector public sector enterprises such as SAIL, NTPC, NMDC to consider taking over stressed power and steel assets brought up for bidding by resolution professions under the terms of Insolvency and Bankruptcy Code (IBC).

Sources said the Centre is pushing for PSUs’ participation in resolution process after public sector banks (PSBs) nudged it to get their active involvement to prevent them from taking deep haircuts on outstanding loans.

Revenue shortfall, ease of filing returns to top GST Council meet

Monthly fall in revenue, simplifying filing of returns and measures to boost the handicraft sector would top the agenda of the GST Council meet next week.

The Council will also brainstorm ways to ease spasms caused by the roll out of new indirect tax regime.

Ahead of the crucial meeting, a series of meetings of senior officers has kicked off to consider rate rationalisation and proposed changes in the GST law to make the new regime more taxpayer-friendly.

New industrial policy in few months: Prabhu

The new industrial policy which seeks to promote emerging sectors will be released within a few months, Commerce and Industry Minister Suresh Prabhu said today.

"The new industrial policy should be releasing in next few months," he told reporters here.

The proposed policy, the draft of which has been prepared by the ministry, will completely revamp the Industrial Policy of 1991.

Among other things, it would endeavour to reduce regulations and bring in new industries currently in focus.

PM to interact with leading economists tomorrow

Prime Minister Narendra Modi will interact with leading economists and sectoral experts tomorrow to deliberate on economic policy roadmap for promoting growth and employment.

The meeting, being organised by government think tank NITI Aayog, will be attended by a host of ministers including Finance Minister Arun Jaitley, NITI Aayog functionaries and leading economists.

"Prime Minister Narendra Modi will interact with leading economists and the experts across sectors from all over the country at NITI Aayog tomorrow," an official statement said today.

Sebi seeks new tax rules for hedge funds

Market regulator Sebi has recommended new tax rules for alternative investment products that would boost the country’s fledgling hedge fund industry.

The Securities and Exchange Board of India (Sebi) is seeking “unit-based” taxation for products broadly classified as hedge funds as part of its proposals for the federal budget due on February 1, said people familiar with the matter.

If approved, the designation would reduce fund managers’ administrative burdens and make the country’s equity hedge-fund investors

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