Page 14 - Government Of India

Government monetised enemy properties worth Rs 3,400 crore, says official

The government has earned over Rs 3,400 crore from disposal of enemy properties, mostly movable assets like shares and gold, officials said. Enemy properties are those left behind by people who took citizenship of Pakistan and China after leaving India during the partition and post the 1962 and 1965 wars. "The Custodian of Enemy Property for India (CEPI) has realised a total of Rs 3,407.98 crore from disposal of enemy properties which include 7,52,83,287 shares (for Rs 2,708.9 crore) of 152 companies in 2018-19, 2019-20, 2020-21 and 2021-22, and Rs 699.08 crore as revenue receipts," an official of the Ministry of Home Affairs (MHA) said on Tuesday. Altogether, 1699.79 grams of vested gold has also been sold for Rs 49,14,071 and 28.896 kilogram of silver ornaments have been disposed of for Rs 10,92,175 in January 2021 through Government of India Mint, Mumbai as per provisions of the Enemy Property Act, he said. No immovable enemy property has so far been monetised by the government

Union Cabinet approves 'Vibrant Villages Programme' for northern borders

The Union Cabinet on Wednesday approved the centrally-sponsored "Vibrant Villages Programme" for financial years 2022-23 to 2025-26 with an outlay of Rs 4,800 crore, Union minister Anurag Thakur said. It will lead to infrastructure development and livelihood opportunity in four states and one Union Territory along the northern borders, he told reporters. The programme will help encourage people to stay in their native locations in border areas and reverse the out-migration from these villages, thus adding to improved security of the border. The scheme aids to identify and develop economic drivers based on local, natural, human and other resources of the villages on the northern border and development of growth centres on Hub and Spoke Model through promotion of social entrepreneurship, empowerment of youth and women through skill development and entrepreneurship.

Illegal subsidies by trade partners hurt Indian trade, business: Govt

The government on Monday said illegal subsidies by trade partners and other countries hurt Indian trade and business, and that corrective actions are taken in the form of invoking dispute settlement mechanisms. The Department of Commerce on February 9, 2023 had stated that illegal subsidies by trade partners and other countries hurt Indian trade and business, Minister of State for Corporate Affairs Rao Inderjit Singh told the Lok Sabha. "At a multilateral forum, the disciplines regulating the provision of subsidies and the use of countervailing measures to offset injury caused by subsidized imports are addressed in the Agreement on Subsidies and Countervailing Measures," he said in a written reply. According to him, the subsidies whether they are prohibited (illegal) or actionable are determined by three major steps within the Subsidies and Countervailing Measures agreement. Based on them, corrective actions are taken in the form of invoking dispute settlement mechanism, Singh said

Why the govt shouldn't just privatise factories but infrastructure too

India should consider a reverse Build Operate Transfer (BOT) model wherein the government finances a project on the EPC basis, and then when it's ready, it auctions it off to the private sector

Adani case brings back the question of infrastructure financing in India

The projects need cash, and Adani could well face serious shortfalls. Whether the govt bails them out by giving money or takes them over is a billion-dollar question

Want to make exemption-free tax regime attractive for people: FM Sitharaman

Sitharaman said large macroeconomic considerations had been kept in mind, and fiscal consolidation had not been ignored

Focus on bank governance: Pain points & what's on offer in Budget

A move to the stricter expected credit loss model in accounting for bad loans is on the cards for banks

A credible effort

The Budget makes all the right noises and avoids the temptation to be populist

Sartorial to spending: Green dominates the House during Budget speech

The word 'green' was used by the finance minister 23 times in her 60-plus-minute speech, reinforcing the jungle theme as she moved from thicket to thicket, stumbling occasionally

Union Budget 2023 augments capex without sacrificing fiscal consolidation

The quality of the fiscal deficit is also set to improve in FY24, with capex accounting for a much larger share of the same vis-a-vis FY23

Govt health spend must hit 2.5% of GDP by 2025, says Economic Survey

At the same time, out-of-pocket expenditure as a percentage of total health expenditure has declined from 64.2 per cent in FY14 to 48.2 per cent in FY19

Budget 2023: What is the Economic Survey? All you need to know about it

The Survey reviews the economic and financial trends in the nation over the past year and provides detailed data and analysis on all the major sectors of the economy

Budget expectation: PLI scheme might be extended to other industries

Currently, 384 eligible companies, global and homegrown, in 14 industries are eligible for incentives

Budget 2023-24: With all eyes on growth, it's over to FM Sitharaman

Even as India is a relatively bright spot in the global economy, most of its big trading partners in the West, and China are bracing for a deep slowdown and, in some cases, a recession

Will Budget 2023-24 be populist or pragmatic? Brokerages weigh in

Budget to focus on rural India, capex, and manufacturing push, as well as prioritising macro stability

Explained: Why Chinese electronics companies are getting a break in India

A small policy relaxation outside the rubric of Press Note 3 is designed to help global and domestic electronics manufacturing build a local supply chain ecosystem

PSE dividends likely to cross govt's target for first time in 8 years

The government has so far garnered Rs 36,835 crore, which is 92 per cent of the Budget estimate of Rs 40,000 crore

iNCOVACC: All you need to know about world's first intranasal Covid vaccine

The vaccine been approved for use as a primary as well as a heterologous (mix-and-match) booster dose in India

Budget 2023-24: T V Somanathan to Ajay Seth, meet the FM's crack squad

The Modi government will present its last full Budget on February 1 as the 2024 Budget will be a vote on account because the nation will be heading for the hustings from April next year

Govt impartial in honouring people: Ramdas Athawale on Padma awardees

Union Minister of Social Justice and Empowerment Ramdas Athawale on Thursday while speaking about the Padma awardees said that the government is impartial in honouring people