Government unveils package to boost exports, revive housing sector

News:Government has announced a set of measures aimed at two sectors of the economy namely exports and housing sector.These measures are aimed to reverse a deepening economic slowdown. Facts: Special Fund for Housing Projects: A special fund will be set up for providing last-mile funding for housing projects.It will focus on the construction of unfinished… Continue reading Government unveils package to boost exports, revive housing sector

Centre responds to downturn with steps to boost growth

Government has announced a number of economic measures which seeks to revive economic growth through fiscal stimulus. These measures were brought in the backdrop of the economic slowdown in India.The measures announced are:- The surcharge announced in the budget on Foreign Portfolio Investors (FPIs) has been withdrawn.This will check the outflow of FPI from India.… Continue reading Centre responds to downturn with steps to boost growth

Sitharaman gives MSME sector a breather

Finance minister has announced several measures to provide some relief to Micro,Small and Medium Enterprises(MSMEs) sector. Finance Minister has announced that all pending Goods and Services tax(GST) dues for the MSME sector shall be cleared within 30 days.In the future,all such dues would be cleared within 60 days of application. Further,the banks will issue improved… Continue reading Sitharaman gives MSME sector a breather

Why lower fiscal deficit isn’t always good news

According to the data,there is growing concern about the slowdown in India’s economic growth.Recently,RBI had also cut repo rates by 35 basis points, which was the sharpest cut in nine years. In macroeconomy,there are two components.One is the structural or the permanent component which is largely determined in the long term by factors such as… Continue reading Why lower fiscal deficit isn’t always good news

Rural ministry to focus on 3-5 lakh women SHGs to scale up enterprises

Ministry of Rural Development(MoRD) has decided to focus on select 3-5 lakh women Self Help Groups(SHGs) with a view to convert their nano enterprises into micro enterprises. This Initiative is taken up as part of Aajeevika-National Rural Livelihood Mission(NRLM). The NRLM mission aims to organize the rural poor women into SHGs and continuously nurture and… Continue reading Rural ministry to focus on 3-5 lakh women SHGs to scale up enterprises

Govt. in talks with foreign lenders for loans to SMEs

The Indian government is in talks with foreign lenders to provide credit to millions of small and medium enterprises(SME). This step is being taken after state owned banks have not been able to drive increased lending because they are burdened with more than $145 billion in bad loans.This has led to a severe credit squeeze… Continue reading Govt. in talks with foreign lenders for loans to SMEs

RTI Amendment Bill to be introduced in Lok Sabha today

The Government has introduced a Bill to amend the Right to Information Act,2005 in the Lok Sabha.The amendment bill proposes two fundamental changes. First,it proposes to change the tenure of the Central Information Commissioner(CIC) and Information Commissioner(IC) at the centre and state levels from five years or until the age of 65 years at present… Continue reading RTI Amendment Bill to be introduced in Lok Sabha today

Centre raises over Rs 10,000 crore on net basis via CPSE ETF

The Central Government has raised over Rs 10,000 crore on a net basis from the 5th further fund offer(FFO) of the Central Public Sector Enterprises(CPSE) Exchange Traded Fund(ETF). The government aims to raise Rs 1.05 lakh crore through disinvestment in 2019-20 up from Rs 85,000 crore raised last fiscal.Disinvestment is defined as the action of… Continue reading Centre raises over Rs 10,000 crore on net basis via CPSE ETF

Centre rejects SEBI plea to amend provision for transferring reserves

The Finance Ministry has refused to accept the request from the Securities and Exchange Board of India(SEBI) to amend the provision that mandates transferring 75% of the market regulator’s surplus funds to the central government. SEBI had written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market… Continue reading Centre rejects SEBI plea to amend provision for transferring reserves

SEBI opposes Centre’s proposal to transfer surplus money to CFI

Securities and Exchange Board of India(SEBI) has written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market regulator’s surplus funds to the central government SEBI said that the proposal would result in compromising its autonomy and its ability to function effectively towards the progress and development of… Continue reading SEBI opposes Centre’s proposal to transfer surplus money to CFI

Steps Taken to Deal with Cyber Crime and Cyber Security

Minister of State for Home Affairs has informed the Parliament about the steps taken by the Government to deal with Cyber Crime and Cyber Security. The Government has launched the online cybercrime reporting portal to enable complainants to report complaints pertaining to Child Pornography or sexually explicit content.  The Central Government has also rolled out… Continue reading Steps Taken to Deal with Cyber Crime and Cyber Security

Bimal Jalan panel finalises report on RBI capital, surplus transfer

RBI had constituted a panel on Economic capital framework(ECF) to address the issue of RBI reserves.The panel was headed by Bimal Jalan. The panel has decided to recommend the RBI to transfer the excess capital from RBI to the government over 3 to 5 years.It will also recommend that the framework should be reviewed periodically.… Continue reading Bimal Jalan panel finalises report on RBI capital, surplus transfer

Jalan panel report on RBI reserves by June end

RBI had constituted a panel on economic capital framework to address the issue of RBI reserves.It is headed by Bimal Jalan.The panel will meet one more time before finalising its report. The panel was formed after the government has said that the RBI should hand over its surplus reserves amid a shortfall in revenue collections.… Continue reading Jalan panel report on RBI reserves by June end

Centre asks Supreme Court to rethink elevation of two High Court judges

The Centre has returned the proposals forwarded by the Supreme Court collegium for elevation of High court judges to the Supreme Court. The Government has asked the Supreme Court to reconsider the recommendation to maintain the principle of proper regional representation. Collegium system in India is the system by which the judges are appointed by… Continue reading Centre asks Supreme Court to rethink elevation of two High Court judges

Rafale review pleas: govt seeks time to file response

Government has asked the Supreme Court to defer the hearing of the review petitions in the Rafale case.The Government has said that it needed more time to file a fresh affidavit. However,the apex court allowed the Central government to circulate the letter for adjournment among parties which include petitioners who have filed review pleas. Recently,the… Continue reading Rafale review pleas: govt seeks time to file response

RBI sells entire stake in NHB, Nabard to govt. for ₹ 1,470 cr. in total

The Reserve Bank has divested its stake in National Housing Bank (NHB) and National Bank for Agriculture & Rural Development (Nabard), by making them fully government-owned. This move is part of ending the cross-holding in regulatory institutions and follows the recommendation of the second Narasimham committee report of October 2001.The Narasimham panel had said RBI… Continue reading RBI sells entire stake in NHB, Nabard to govt. for ₹ 1,470 cr. in total

Voters needn’t know source of political funding: govt.

The government has told the Supreme Court that anonymity should be maintained in the electoral bond scheme to protect donors and recipients right to privacy. The government’s statement came during a hearing on electoral bonds in the Supreme Court.The petition had challenged the validity of the Electoral Bonds scheme on the grounds that (a)It keeps… Continue reading Voters needn’t know source of political funding: govt.

In SC, govt. defends electoral bonds

The Government has opposed in the Supreme Court on the concerns raised by the Election Commission on issuing electoral bonds. Earlier,theElection Commission of India had filed an affidavit in the Supreme Court.It said that the introduction of electoral bonds and the removal of the cap on corporate funding by the government will have a serious… Continue reading In SC, govt. defends electoral bonds

RBI order on defaulters lacked govt. nod, says SC

The Supreme Court has struck down the Reserve Bank of India’s Feb. 12 circular on the grounds that the regulator can give directions to banks on stressed assets only upon the central government’s authorisation and in case of a specific default. Several companies in the power,sugar,fertiliser and infrastructure sectors objected to the circular’s one size… Continue reading RBI order on defaulters lacked govt. nod, says SC