Plan and Policy

Plan & Policy

Rs 18,000 crore subsidy in works for stressed gas-based power projects

The government may launch a new Rs 18,000 crore subsidy scheme for stressed gas-based power projects that will enable these fuel starved plants to run using a mix of domestic and imported gas. The move is expected to benefit 31 stranded projects worth 15,000 MW belonging to Essar Power, Torrent Power, GSPC, Reliance Infra, GMR, GVK, NTPC and Lanco. Another 10,000 MW of projects running but at lower load factor of 25-30 per cent could also take advantage of the scheme.    

Jhawar family feud deepens, RoC summons officials

The family feud in the Kolkata-headquartered Usha Martin (UML), one of the world’s largest wire rope manufacturing company that is facing tough times – both financially and in terms of reputation – seems far from over.

LS polls: Rahul, Pawar discuss seat-sharing in Maharashtra

Congress president Rahul Gandhi on Wednesday met Nationalist Congress Party (NCP) supremo Sharad Pawar and are learnt to have discussed the seat sharing arrangement between the two parties in Maharashtra for the Lok Sabha polls.

The Nationalist Congress Party (NCP) and the Congress are understood to have given final shape to the seat sharing arrangement and the same will be announced soon, sources said

Budget session likely from Jan 31 to Feb 13

The Budget session of Parliament is likely to be held from January 31 to February 13 and the interim Budget is expected to be presented on February 1, government sources said.

Alok Verma revokes almost all transfers effected in his absence

The selection committee on CBI chief comprising Prime Minister Narendra Modi, chief justice of India and leader of largest opposition party in Lok Sabha Mallikarjun Kharge met on Wednesday evening to discuss the case of reinstated director Alok Verma. The panel is reported to have decided to hold a second meeting on the matter on Thursday.

Strike affects bank operations

Banking operations were partially affected on Tuesday, as a section of employees refrained from work in support of the two-day strike call given by 10 central trade unions to protest alleged anti-labour policies of the government.

The All India Bank Employees Association (AIBEA) and the Bank Employees Federation of India (BEFI) have supported the strike, which impacted banking operations where these two unions are strong.

IT, ITeS exports may see 10% growth in FY19

Indian IT and ITeS exports may clock 8 to 10 per cent growth during the current fiscal a senior official of Electronics and Computer Software Export Promotion Council (ESC), a body under the Department of Commerce said here Tuesday.

Executive director of ESC, D K Sareen also said the export of electronic hardware may also witness positive growth at about seven to eight per cent on the back of newer avenues such as Solar power electronics, UPS systems and electronic energy meters.

Centre, states, industry to discuss ways to boost export on Jan 10

In the wake of growing protectionism globally, centre, state governments and industry representatives will meet on January 10 to discuss ways to boost the country's exports, an official said Tuesday.

The issues would be deliberated upon in the fourth meeting of the Council for Trade Development and Promotion, which will be chaired by the Commerce and Industry Minister Suresh Prabhu.

Trade ministers from different states including Uttar Pradesh, Punjab, Haryana and Karnataka are expected to attend the meeting, the official added.

CAG favours policy framework for off-budget financing

The government should frame a policy on off-budget financing and sources of such funding in view of its fiscal implication, said a CAG report on the Fiscal Responsibility and Budget Management (FRBM).

In the report tabled in Parliament Tuesday covering fiscal 2016-17, the Comptroller and Auditor General of India (CAG) said off-budget financing was being used to defer fertiliser arrears, food subsidy bills and outstanding dues of Food Corporation of India (FCI) through borrowings.