Plan and Policy

Plan & Policy

3.2% fiscal deficit goal likely for FY19

A fiscal slippage in FY18 will likely result in the government opting to go for a wider gap for 2018-19 in the upcoming budget, according to foreign lender DBS on Thursday.

The fiscal deficit number for 2017-18 will come at 3.5 per cent against the targeted 3.2 per cent of the GDP (gro­ss domestic product) and it will result in the government opting to settle for a target of 3.2-3.3 per cent rather than the 3 per cent under the fiscal consolidation roadmap.

BSF destroys 2 Pak posts; kills intruder along IB

BSF troops on Thursday destroyed two Pakistani posts in retaliation to the killing of its jawan in unprovoked firing and foiled an infiltration bid, killing an intruder along the International Border (IB) in Jammu  district. Following the killing, the force launched “Operation Alert” along the over 200-km long IB) to curb the increasing movement of infiltrating militants from across the border.

Pak releases another ‘confessional’ video of Jadhav

Pakistan on Thursday released another video of Kulbhushan Jadhav in which he purportedly claimed that he has not been harmed in custody, prompting a strong reaction from India, which called it a “propagandistic exercise” by Islamabad that simply carried no credibility.

Cong flags Rs 5.5L cr oil duty in House

The Cong­r­­ess on Th­u­rsday accused the Narendra Modi government of not passing on to consumers the benefits of revenue it has earned by hiking excise duty on oil products, saying it garnered over Rs 5.5 lakh crore and should tell the people what it has done with the money.

Mallikarjun Kharge, Congress leader, raised the issue in the Lok Sabha, noting that the price of crude was $110 per barrel in March 2014, two months before the BJP came to power, which had come down to $40 in June 2016. It was $60 on Wednesday, he said.

India risks landing on currency manipulator watch list

India and Thailand may have to give freer rein to the rupee and baht this year to avoid triggering US accusations that they’re manipulating their currencies to support exports. The Reserve Bank of India has already exceeded a key threshold on how much it can intervene to curb the rupee’s gains that the US monitors, according to Nomura Holdings Inc.

Policymakers in Thailand have also passed this level with the baht, said Bank of Tokyo-Mitsubishi UFJ.

Maharashtra bandh turns violent; rail, road traffic hit

The day-long Maharashtra bandh to protest the violence post an event to mark 200th anniversary of Bhima Koregaon battle, was called off on Wednesday evening. Bharipa Bahujan Mahasangh leader and Dalit icon BR Ambedkar's grandson Prakash Ambedkar, who had called the bandh, told reporters that nearly 50 per cent of the state’s population took part in the shut-down. Road blockades, arson and stone-pelting incidents were reported in Mumbai and elsewhere during the day. However, Ambedkar, claimed that the bandh was peaceful. 

Revised concession pact for PPP projects at ports gets cabinet nod

In an attempt to spur private investment in the port sector, the government has cleared changes in the PPP (public-private partnership) framework allowing developers to exit a project after two years of commercial operation. The revenue sharing provisions have also been relaxed to make the sector more investor-friendly. The move, seen as a big po­sitive for the sector, will allow developers to monetise assets by diluting stake in projects. It will bring new cl­a­ss of investors such as pension and sovereign funds.

RS nominees: AAP war in open as Kejriwal sides with outsiders

With the Aam Aadmi Party on Wednesday nominating senior party leader Sanjay Singh and two little-known faces, a Delhi-based businessman with past links with the Congress and a veteran chartered accountant, as its Rajya Sabha nominees ignoring senior party leader Kumar Vishwas, the rifts in the party were out in the open.

H-1B visa changes will hit US too: Nasscom

Any disruptive move on the visa front will be detrimental for both India and the US, with reports suggesting that Washington may be mulling new rules to prevent H-1B visa extensions, software body Nasscom has said.