Page 49 - Centre

Rs 1.45 trillion extra resources for FCI's capital needs, says govt

The IEBR of FCI for FY24 - in line with the Budget documents - is projected to jump a staggering 164 per cent to nearly Rs 1.45 trillion, from the 2022-23 (FY23) Revised Estimates (RE) of Rs 55,000 cr

Centre now largest Vodafone Idea shareholder as firm gives it 33.4% stake

Operational and management control of the company will remain with existing promoters

Centre appoints K Satyanarayana Raju as new MD & CEO of Canara Bank

State-owned Canara Bank on Tuesday said the Union Government has appointed K Satyanarayana Raju as its Managing Director and CEO, with immediate effect. He will be replacing L V Prabhakar who demitted office on December 31, 2022. Raju, who is a Physics Graduate, Post Graduate in Business Administration (Banking and Finance) and CAIIB (Certified Associate of Indian Institute of Bankers), had earlier served Canara Bank as Executive Director since March 10, 2021. He has a very rich and vast experience in all segments of banking including Branch Banking, Corporate Credit, Retail Credit, Agri Financing, Credit Monitoring, Credit Recovery, Compliance etc. Also his rich experience and exposure led to digital transformation of banking products and services, the bank said in a release.

India's coal production target at 1,017 mn tonnes for next fiscal: Joshi

The country's coal production target has been fixed at 1,017 million tonnes for the next fiscal, Parliament was informed on Monday. In a written reply to the Rajya Sabha, coal minister Pralhad Joshi said the steps were being taken by the Centre to augment the coal output in the country by engaging mine developers and operators. "The target of all India coal production has been fixed at 1,017 million tonnes (MT) for the financial year 2023-24," the minister said. State-owned CIL has identified 15 projects having a total project rated capacity of 168.58 million tonnes per year for implementation through MDO mode. Out of these 15 projects, Letter of Award has already been given to nine projects. NLC India Ltd is implementing two MDO projects.

Sovereign Green Bonds of Rs 16,000 cr to be issued in current fiscal

Sovereign Green Bonds (SGBs), amounting to Rs 16,000 crore, are proposed to be issued in the current financial year for mobilising resources for green infrastructure projects, the Parliament was told

Govt blocks 138 betting, 94 loan lending apps with Chinese links

The crackdown on these platforms began after the government received an alert from a nodal officer of the Ministry of Home Affairs

Centre approves Pune-Nashik high speed rail connectivity: Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis on Sunday said the Ministry of Railways has accorded "in principle approval" for the Pune-Nashik high-speed rail project. Fadnavis made the announcement after a meeting with Railway Minister Ashwini Vaishnaw here. "I thank the Railway minister for granting in-principle approval to the Pune-Nashik high-speed railway project," the Maharashtra deputy chief minister said. He said officials from Maharashtra and the railway ministry will make a technical appraisal of the project and then take the proposal to the Union Cabinet for approval. "Pune and Nashik are important cities of Maharashtra economically and culturally. It would be our endeavour to provide rail connectivity to these two cities," Vaishnaw said. "We had a detailed discussion on the technical aspects of the project and will now take it forward," the Railway minister said. Fadnavis said high-speed rail between Pune and Nashik will boost development and provide seamless ..

Govt to push producers to use recycled steel as 50% input by 2047: Scindia

Union Steel Minister Jyotiraditya Scindia on Saturday said his ministry will push primary steel producers to use 50 per cent of their input from scrapped/recycled steel by 2047 to help achieve the government target of moving into a circular economy. Currently, the level of recycled steel usage in primary steel production is only around 10 per cent even though recycled steel contributes to 22.5 per cent of the domestic total steel production of 140 million tonnes, the minister said while addressing the last day of the three-day international conference of material recycling here. The 10th conference is being organised by the Material Recycling Association of India and is attended by over 2,000 delegates from 38 countries. Noting that recycling is the key cog in the wheel of manufacturing as economies move into a circular model of development, he said, "Going forward the industry should focus on the 6Rs philosophy of reduce (exploitation of natural resources), recycle, reuse, recover,

BJP govt at Centre fighting with everyone, alleges Delhi CM Kejriwal

Delhi Chief Minister Arvind Kejriwal on Saturday accused the BJP government at the Centre of "fighting with everyone", including states, judges, farmers as well as traders. Citing a news report on the Collegium system of appointment of judges becoming a major flashpoint between the Supreme Court and the Centre, Kejriwal advised the Narendra Modi government not to meddle in others' work. "Why does the central government fight with everyone? With judges, Supreme Court, state governments, farmers and traders? The country will not progress by quarrelling with everyone. Do your job and let others do theirs. Don't interfere in other's work," Kejriwal said in a tweet in Hindi. The AAP government in Delhi is involved in a running battle with the Centre-appointed Lt Governor over a range of governance and jurisdiction-related matters. Last month, Kejriwal along with Deputy Chief Minister Manish Sisodia and AAP MLAs marched to Raj Niwas over an alleged delay in approving his government's ...

Working for welfare of deprived, backward sections our priority: PM Modi

Prime Minister Narendra Modi on Friday asserted that welfare of the deprived and backward sections is the Central government's priority. Modi, during a virtual address at the Krishnaguru Eknaam Akhand Kirtan' in Assam's Barpeta district, also said special provisions have been made in the Union Budget 2023-24 to increase the interest rates on women's savings to empower them. The PM, draped in a white and green 'gamosa', said that the demand for the traditional hand towels have gone up in the last eight years. Lakhs of women organised under Self Help Groups (SHGs) are weaving these. Behind every gamosa' is the hard work of the women of Assam, he said. The month-long kirtan, which began on January 6, is being held at the Krishnaguru Sevashram.

'Higher for longer' interest rate approach needed to inflation down: IMF

Global central banks need to make clear to financial markets the probable need for interest rates to remain higher for longer in order to bring inflation sustainably back down, the IMF said

NHRC sends notices to Centre, others on high death rate of factory workers

The NHRC has sent notices to the Centre and various states and Union Territories over the reported high death rate of workers in accidents at registered factories, officials said on Thursday. The National Human Rights Commission (NHRC), in a statement, said it has taken suo motu cognisance of a newspaper article that according to the Ministry of Labour and Employment's Directorate General Factory Advice Service and Labour Institutes (DGFASLI) data, three people died and 11 were injured each day on an average between 2017 and 2022, due to accidents at registered factories in the country. Reportedly, as many as 3,331 deaths were recorded between 2018 and 2020, but only 14 people were imprisoned for offences under the Factories Act, 1948, it said. The data collected by DGFASLI from Chief Inspectors of Factories and Directors of Industrial Safety and Health represents that only registered factories provided the figures, whereas, 90 per cent workers in India are employed in the informal

Centre asked SC to finalise MoP for appointment of judges, says Rijiju

The government on Thursday said it has suggested to the Supreme Court that the search-cum-evaluation committee for the appointment of judges in the apex court and chief justices of high courts should consist of a representative nominated by the Centre. In a written reply to two separate questions in the Rajya Sabha, Law Minister Kiren Rijiju also said the Centre has not asked the Supreme Court to include a government nominee in the collegium for appointments to the higher judiciary. Rijiju said in a communication to the apex court January 6, the government has also emphasised the need to finalise the memorandum of procedure (MoP) in view of various judicial pronouncements. The MoP is a set of documents that guide the elevation, appointment and transfer of Supreme Court and high court judges. The minister said for the appointment of judges in the high courts, the committee should consist of a representative each nominated by the Centre and the respective state governments. The ...

Call on FY24 green bond, H2 borrowing to be taken together: Ajay Seth

We are at 57 per cent of GDP for the central government, we have to see that every year we nibble away may be a percentage point, said Ajay Seth, Economic Affairs Secretary

Devolution to states: Cess, surcharge help Centre keep major chunk of taxes

Among a few tweaks to surcharges, Sitharaman announced the Centre would reduce the highest surcharge levied under personal income tax from 37 per cent to 25 per cent under the new tax regime

Gati Shakti push: 18 road projects headed for the fast lane in FY24

62 critical projects to be awarded by FY25

Govt exploring legal options on pending CCI approval of 16 mergers

Seeks solutions within statutory framework of Competition Act to speed up approvals

Centre notifies GACs to look into complaints against social media firms

The Centre on Friday notified three grievances appellate committees that will address users' complaints against social media and other internet-based platforms. According to the notification, each of the three GACs (grievances appellate committees) will have a chairperson, two whole-time members from different government entities and retired senior executives from the industry for a term of three years from the date of assumption of office. The first panel will be chaired by the chief executive officer of the Indian Cyber Crime Coordination Centre under the Ministry of Home Affairs. Retired Indian Police Service (IPS) officer Ashutosh Shukla and Punjab National Bank's (PNB) former chief general manager and chief information officer Sunil Soni have been appointed as the whole-time members of the panel. The second panel will be chaired by the joint secretary in charge of the Policy and Administration Division in the Ministry of Information and Broadcasting. Indian Navy's retired ...

Republic Day: CM Mann slams Centre for not including Punjab's tableau

Punjab Chief Minister Bhagwant Mann on Wednesday slammed the BJP-led Centre for not including the state's tableau in the Republic Day parade, saying there cannot be anything more shameful than this. He said in the country's freedom struggle, Punjab and Punjabis made 90 per cent contribution -- be it Shaheed Bhagat Singh, Udham Singh, Lala Lajpat Rai, Kartar Singh Sarabha, Madan Lal Dhingra and thousands of unknown martyrs who made supreme sacrifices to give the country its independence. "Punjab's tableau for Republic Day not included this time. There cannot be anything more shameful than this. The BJP government has shown its mindset...," Mann said in a video message. He said the entire world wants to see Punjab's rich culture and contribution of Punjabis towards the nation's freedom struggle. On Punjab's tableau not being part of the Republic Day parade, Mann said, "We strongly condemn this. Punjab cannot be overlooked at such events". It is painful, he said, adding that his part

Determination of fake news cannot be in sole hands of govt: Editors Guild

The Editors Guild of India on Tuesday urged Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, to expunge the draft amendment to IT Rules 2021