Plan and Policy

Plan & Policy

Salaries delayed at AI for 3 months in a row

Air India, which failed to get even a single bidder for its disinvestment plan, has delayed payment of salaries to its employees for the third consecutive month, according to sources.

The airline management has also not communicated to the staff as to when the salaries for the month of May will be paid, they added. “We have still not received our salaries for May. Moreover, the management has not informed us till date as to when it will be disbursed. This is the third month in a row that the airline has delayed the salaries,” one of the sources cited above said.

Rs 8,500 cr bailout package for sugar industry okayed

Concerned over rising farmers discontent over lower payments and the build up of cane arrears, the government has approved a Rs 8,500 crore package that aims to increase farmers income by creating a buffer stock for sugar and enhancing ethanol production capacity allowing additional outlet for sugarcane produce in a bumper season. 

Prez signs IBC ordinance; relief to home buyers

President Ram Nath Kovind on Wednesday signed the ordinance to amend the Insolvency and Bankruptcy Code (IBC), a development that comes as a huge relief to home buyers.

The ordinance gives the status of financial creditors to aspiring home buyers to legally recover their funds in case builders fail to complete projects on time or don't return money. The status of financial creditors gives them due representation in the committee of creditors (CoC) and makes them an integral part of the decision making process.

Rahul promises to end farmer woes if elected to power

Sounding the poll bugle from Mandsaur, the epicentre of last year’s farmer agitation in which five people were killed in police firing, Congress chief Rahul Gandhi on Wednesday attacked prime minister Narendra Modi for his “poor” show on job creation and farm distress. Rahul promised to waive all loans of farmers in case his party comes to power in Madhya Pradesh, which goes to poll in November. He also assured farmers that payment for their crops in mandis would be made in cash, suggesting that note ban and the following shift to digital mode of payment had hurt them.

INDIA PULLS RATE TRIGGER AFTER 4.5 YEARS

When India’s top three banks in terms of lending, State Bank of India, ICICI Bank and Punjab National Bank, increased their marginal cost of lending rates (MCLR) by 10 basis points, with effect from June 1, 2018, ahead of the Reserve Bank of India (RBI) policy meeting, those prescient enough to read the tea leaves knew that a rate hike was imminent.

‘No unprovoked attack from Pakistan to go unanswered’

Defence minister Nirmala Sitharaman on Tuesday said the Army will continue to respect the ongoing Ramzan ceasefire in Jammu and Kashmir but asserted that no unprovoked attack from across the border will go unanswered as the forces have been given the right to hit back.  Sitharaman, addressing a press conference on the occasion of the fourth anniversary of the NDA government, said the Army was given the right to adequately respond to any cross border attacks or unprovoked firing.

Damage control: BJP reaches out to disgruntled allies

Reaching out to NDA allies ahead of the 2019 general elections, BJP chief Amit Shah will meet Shiv Sena president Uddhav Thackeray in Mumbai on Wednesday and Shiromani Akali Dal supremo Parkash Singh Badal in Chandigarh the following day.

225 GW renewable power by 2022 likely

The government hopes to touch renewable power capacity of 225 gigawatts (GW) by March 2022, the power minister said on Tuesday, li­k­ely breaching the 175 GW ta­rget set in 2015. “We will cross the target of renewable energy before 2022,” RK Singh said, adding bids for the entire 175 GW will be out by March 2020.

India, which is a signatory to the Paris accord for cutting greenhouse gas emissions, has an installed capa­city of over 70 GW, up from 34 GW in December 2014.

Rising use of plastics in farm sector bad for crop, land: WOTR

The Watershed Organisation Trust (WOTR), a Pune-based non-profit group, has warned the government ab­o­ut rising use of plastics in agriculture. It has suggested alternative natural materials obtained from plants, anim­als, and new generation bio­polymers, which are plastics made from biomass sources.

While lauding the gover­nment’s efforts banning single use plastics and enforcing penalties for non-compliance, WOTR has urged action that goes beyond bans and prevent contamination of soil, water, food and air.

Rs 2,600 crore package unlikely to help leather exports this year

Despite a $26 billion (Rs 2,600 crore) package sanctioned by the government, industry expects leather and leather products exports to grow only marginally by three to four per cent in the current financial year. Double-digit growth is not expected to return even next year.

Leather exports have registered a flat growth in FY18.

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