Plan and Policy

Plan & Policy

Zojila Pass tunnel project gets green light

The Narendra Modi-led cabinet on Wednesday approved the construction of Asia’s longest bi-directional Zojila Pass tunnel at an estimated cost of Rs 6,089 crore, which will reduce the travel time between Srinagar and Leh to 15 minutes from the current 3.5 hours.

The cabinet committee on economic affairs gave its go-ahead to the 14.2-km-long tunnel project in Jammu and Kashmir to provide all-weather connectivity between Srinagar, Kargil and Leh, which remains cut-off from the rest of the country during winters due to heavy snowfall.

Bihar urges Centre to sort out issues before e-way bill rollout

The Bihar government has urged the Centre to sort out all issues around the e-way bill, before rolling out the digital system aimed at containing tax evasion in the new indirect tax regime. The move comes weeks after the all-powerful GST Council decided to introduce the electronic-way or e-way bill for movement of goods.

The Bihar government has asked for a 24-hour troubleshooting mechanism and setting up a helpdesk to address issues that could crop up in the midst of implementing the e-way bill.

Budget relief likely on property investment and rental income

If you are a homeowner get ready for a slew of goodies when the Union budget is presented this year.

On that day, finance minister Arun Jaitley may be preparing a Union Budget to lower your interest burden on home loans, while nudging you to buy a second home or first home where your rental earnings would see higher deductions from taxes. The budget this year may provide relief on property investments.

Banks face mounting criticism

Facing public ire for levying hefty penalty from customers for not maintaining monthly average balance (MAB) in savings accounts, bankers have come out justifying the heavy fine.

Maharashtra burns as Pune caste clash fire spreads

Several towns and cities in Maharashtra were on edge on Tuesday as Dalit protests against Monday’s violence in Pune spilled over to capital Mumbai, with agitators damaging scores of buses, and disrupting road and rail traffic, officials said.

Clashes between Dalit groups and supporters of right-wing Hindu organisations during the 200th anniversary celebrations of the Bhima-Koregaon battle in Pune district had left a man dead on Monday.

Doval’s wings clipped, Khanna is deputy NSA

Rajinder Khanna, former chief of the country’s external intelligence agency RAW, was on Tuesday appointed as deputy national security adv­iser (NSA), according to an official order.

India faces power paradox

India is adding the least amount of coal-fired power in more than a decade as tepid demand from indebted state retailers fails to utilise the nation’s existing generation capacity.

Coal-fired capacity, which accounts for more than three quarters of the nation’s electricity, rose by 809 megawatts during the April-November period, according to Bloomberg calculations based on the latest available data from the Central Electricity Authority (CEA), the planning wing of the power ministry.

Disclosing liquidation value to bidders not must

The government on Tuesday notified amendments to the Insolvency & Bankruptcy Code (IBC) that makes it not necessary for liquidation value of a stressed asset to be disclosed in the information memorandum to prospective bidders. At the same time, it is mandatory to identify sources of funds used for paying off lenders.

Govt notifies 1% GST on manufacturers under composition scheme

The government has notified lower 1 per cent GST rates for manufacturers who have opted for composition scheme as well as easier norms for traders opting for it.

The finance ministry has notified the changes decided by the GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state counterparts, in November 2017.

The notification stipulates that manufacturers who have opted for composition scheme will now have to pay 1 per cent Goods and Services Tax (GST) as against 2 per cent earlier.

Islamabad bars Saeed’s JuD, FiF from collecting donations

Pakistan’s financial regulatory body on Monday banned Mumbai attack mastermind Hafiz Saeed-led Jamaat-ud Dawa and Falah-i-Insaniat Foundation from collecting donations, according to a media report.

The Securities and Exchange Commission of Pakistan (SECP) prohibited the collection of donations by the JuD, the front organisation of banned outfit Lashkar-e-Taiba, as well as several other such organisations named in a list of banned outfits by the UN Security Council, the Dawn reported.