Page 1383 - Economy & Policy News
Reservations take SC/STs to Parliament, but not to positions of influence
Their proportional share in the Lok Sabha is not reflected in their presence in various committees, implying limited influence and authority.
 "Reservations take SC/STs to Parliament, but not to positions of influence")
IBBI puts out Aadhaar, PAN info of creditors on website; removes them later
A senior official said the details came into the public domain "inadvertently" as the regulator is working on a beta project to host the information of creditors
 "IBBI puts out Aadhaar, PAN info of creditors on website; removes them later")
Railways improves operating ratio to 97.45% in pandemic-hit FY21
Limited train services for most of year with no subsidies or concessions, severely tightening of expenses have led to Railways better its operating ratio to 97.45% in FY 21 from 98.36% previous fiscal
 "Railways improves operating ratio to 97.45% in pandemic-hit FY21")
Traders body CAIT urges govt not to dilute draft e-commerce rules
Domestic traders' body CAIT on Sunday urged the government not to dilute the draft of e-commerce rules under any pressure of foreign-funded online firms.
 "Traders body CAIT urges govt not to dilute draft e-commerce rules")
No resumption of DA, DR from July 1 for central govt employees: FinMin
The Ministry of Finance on Saturday clarified that no order regarding resumption of DA for the central government employees and DR for the central government pensioners from July 1 has been issued.
 "No resumption of DA, DR from July 1 for central govt employees: FinMin")
Indian economy poised for recovery in FY22, says SBI Chairman
SBI Chairman Dinesh Kumar Khara has expressed hope that the country's economy would recover in the ongoing financial year
 "Indian economy poised for recovery in FY22, says SBI Chairman")
478 infrastructure projects show cost overruns worth Rs 4.4 trillion
As many as 478 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.4 lakh crore, according to a report.
 "478 infrastructure projects show cost overruns worth Rs 4.4 trillion")
Some states fear proposed e-commerce rules will hurt jobs, MSME: Report
Some states fear there could be a negative impact on jobs and market access for MSMEs created by various digital platforms in recent years
 "Some states fear proposed e-commerce rules will hurt jobs, MSME: Report")
Boost connectivity beyond urban areas: CJI in letter to Ravi Shankar Prasad
The CJI also asked the Union Minister to augment the provisioning of vaccines to immunise all the functionaries associated with the Courts
 "Boost connectivity beyond urban areas: CJI in letter to Ravi Shankar Prasad")
Indian states need more financial support from the government: S&P
The Covid-19 pandemic could increase budget deficits and indebtedness of state governments as spending needs to exceed revenue collected, S&P Global analysts YeeFarn Phua and Ruchika Malhotra said
 "Indian states need more financial support from the government: S&P")
Ind-Ra lowers FY22 GDP growth forecast to 9.6% due to scale of Covid 2.0
Ind-Ra has said its earlier estimate of gross domestic product (GDP) growth at 10.1 per cent for the current financial year (FY22) is unlikely to hold due to the speed and scale of Covid 2.0
 "Ind-Ra lowers FY22 GDP growth forecast to 9.6% due to scale of Covid 2.0")
Jharkhand to ink pacts with power producers for 3,040 MW electricity
Jharkhand government is in the process of finalising pacts with several power producers for sourcing 3,040 MW electricity, an official statement said
 "Jharkhand to ink pacts with power producers for 3,040 MW electricity")
Passenger traffic at Bengaluru Airport plummets by 66 percent in FY 2020-21
As Covid pandemic continues to affect the aviation sector, Kempegowda International Airport, Bengaluru informed that passenger traffic at Bengaluru airport has plummeted by 66% in FY 2020-21
 "Passenger traffic at Bengaluru Airport plummets by 66 percent in FY 2020-21")
Indian Railways mulling makeover of 90 more stations; work on 60 underway
This comes after the corporation spruced up Habibganj, Gandhinagar stations
 "Indian Railways mulling makeover of 90 more stations; work on 60 underway")
OVL on an oil slick, struggles with geopolitical and domestic challenges
Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.
 "OVL on an oil slick, struggles with geopolitical and domestic challenges")
Success story: How 2 FPOs are rewriting the fate of tribal Odisha farmers
They have dispensed with middleman, get better crop prices
 "Success story: How 2 FPOs are rewriting the fate of tribal Odisha farmers")
Centre exempts tax on expenses incurred for Covid-19 treatment
This exemption is applicable to any amount paid by the employer, and limited to Rs 10 lakh if received from any other person, the finance ministry notified
 "Centre exempts tax on expenses incurred for Covid-19 treatment")
Treasury arm of finance firms can invest in global assets through IFSC
The treasury can be used to raise credit facilities and equity for group entities from the global markets
 "Treasury arm of finance firms can invest in global assets through IFSC")
Longer wait for depositors as RBI extends curbs on PMC Bank till Dec 31
There was considerable buzz among depositors after RBI gave in-principle nod to Centrum Financial Services and BharatPe to set up an SFB in lieu of a restoration scheme of PMC Bank
 "Longer wait for depositors as RBI extends curbs on PMC Bank till Dec 31")
RBI holds back selling 10-yr bond indicating advent of new benchmark paper
Govt has raised over Rs 1.19 trillion against existing bond, a limit after which a new paper is issued to ease redemption pressure
 "RBI holds back selling 10-yr bond indicating advent of new benchmark paper")