1. Jalan panel to suggest plan for levy of user charges on Govt services
The Modi-led Government has asked Bimal Jalan headed Expenditure Management Commission to suggest an effective strategy for meeting reasonable proportion of expenditure on services through user charges.
It has also asked the Jalan panel to review the fiscal responsibility and budget management (FRBM) rules to suggest improvements for enforcing better fiscal discipline.
Also, the newly set up commission will have to review the major areas of Central Government expenditure and suggest ways for creating fiscal space required to meet developmental expenditure needs.
2. Modi announces Rs.1,000-crore aid for flood-hit Jammu and Kashmir
The flood situation in Jammu & Kashmir was declared a “national level disaster”
by Prime Minister Narendra Modi on Sunday even as the Army alone evacuated 15,000 people from flooded areas across the State.As more personnel of the National Disaster Relief Force (NDRF), Air Force and the Army were pressed into action, Mr. Modi asked other States to pitch in. Union Home Minister Rajnath Singh made a separate appeal to NGOs to mobilise their resources to help deal with the situation.
3. Ready to fly, Tatas’ ‘luxury’ airline Vistara poaches key men from IndiGo, JetLite
Vistara, the Tata-Singapore Airlines joint venture, which is awaiting flying permit from the aviation regulator DGCA, has inducted a senior pilot from IndiGo to head its safety team, according to sources. Besides, the carrier has also picked up JetLite quality manager Deepak Joshi to be a part of its safety wing, sources familiar with the development told.
Vistara, in which Tata Sons has 51 per cent stake with the rest being held by Singapore Airlines, is likely to take off next month subject to issuance of the air operator permit (AOP) by the Directorate General of Civil Aviation (DGCA).
"IndiGo senior Commander Ashutosh Verma has moved to Vistara where he has been made head of the safety wing," the sources said.
4. US Open: Federer, Djokovic lose in semifinals
Roger Federer could not pull off another big escape at the US Open, losing 6-3, 6-4, 6-4 in the semifinals on Saturday against Croatia's Marin Cilic.
It was the second significant surprise of the day, coming after Novak Djokovic was beaten 6-4, 1-6, 7-6 (4), 6-3 by Japan's Kei Nishikori, who became the first man from Asia to reach a Grand Slam singles final.
5. Govt to go ahead with key appointments without LoP
Government has decided to go ahead with the appointments to various statutory bodies like CVC, NHRC and Lokpal without the leader of opposition in the Lok Sabha as a member of the selection committee choosing them.
The move comes following a recent reference from the Lok Sabha secretariat in this regard, official sources said.
The Department of Personnel and Training (DoPT) had written to the Lok Sabha seeking information on the LoP. The secretariat has informed the DoPT that there is no recognised LoP in the Lok Sabha, they said.
The government will go ahead with the appointments to various statutory bodies without the LoP, the sources said.
6. BRICS bank not aimed at challenging IMF, WB: Rajan
The move to establish BRICS bank is meant to provide patient money
and not to challenge the existing multilateral financial institutions like the IMF and the World Bank, RBI Governor Raghuram Rajan has said.“I don’t think it was primarily meant to challenge the existing multilateral institutions but it certainly is saying look we have plenty of money ourselves, why don’t we put some of this money to use in a way that benefits us rather than necessarily depending on the multilateral institutions to change which is taking much more time than anybody thought of,” he said.
The BRICS bank is meant to provide patient money, risk capital to long term projects, he said in a speech at an event organised in Chicago on Friday by the Chicago Council on Global Affairs.
7. BSNL, MTNL merger likely by July next year
he much-awaited merger of telecom PSUs, BSNL and MTNL, is likely to take place by July next year as the two companies look at synergising operations by offering services as a single entity.
At present, BSNL offers services in the whole country, except Delhi and Mumbai. MTNL provides telecom services in these two zones.
“The deadline of June-July 2015 has not been officially commissioned to the organisation but the merger is likely to take place in the time frame,” BSNL Director (consumer mobility) Anupam Shrivastava
8. Introduce GST but take states into confidence, experts urge Centre
The proposed goods and services tax (GST) by the Union Government will give a great boost to the Indian economy by removing the anomalies in the taxation system and making it more rational besides increasing tax revenue and exports substantially, according to taxation experts.
However, the Union Government should take care to protect the interests of the States in the process and address their concerns.
9. Government of India can print Re 1 note: Law Ministry
Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination.
While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values of Rs. 2, Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1,000, Rs. 5,000 and Rs. 10,000, the one rupee note was printed and issued by the central government.
The Government of India also has the sole right to mint coins of all denominations.
10. Govt to come up with ‘comprehensive policy’ for MSME sector
he government will soon introduce a new comprehensive policy for the MSME sector after incorporating suggestions from related associations, Union Minister, Kalraj Mishra said today.
He counted the problems of entrepreneurs in setting up a Micro, Small and Medium Enterprises (MSME) unit and said that the government would incorporate suggestions from the industry bodies and association so that a progressive environment can be made.
“I held meeting with representatives of 80 associations in Delhi and sought their suggestions to make the draft policy. We will incorporate important suggestions and soon introduce the draft policy,” he said here at a meeting of “Laghu Udyog Bharti”, which represents small scale industries.
1. Jalan panel to suggest plan for levy of user charges on Govt services
The Modi-led Government has asked Bimal Jalan headed Expenditure Management Commission to suggest an effective strategy for meeting reasonable proportion of expenditure on services through user charges.
It has also asked the Jalan panel to review the fiscal responsibility and budget management (FRBM) rules to suggest improvements for enforcing better fiscal discipline.
Also, the newly set up commission will have to review the major areas of Central Government expenditure and suggest ways for creating fiscal space required to meet developmental expenditure needs.
2. Modi announces Rs.1,000-crore aid for flood-hit Jammu and Kashmir
The flood situation in Jammu & Kashmir was declared a “national level disaster”
by Prime Minister Narendra Modi on Sunday even as the Army alone evacuated 15,000 people from flooded areas across the State.As more personnel of the National Disaster Relief Force (NDRF), Air Force and the Army were pressed into action, Mr. Modi asked other States to pitch in. Union Home Minister Rajnath Singh made a separate appeal to NGOs to mobilise their resources to help deal with the situation.
3. Ready to fly, Tatas’ ‘luxury’ airline Vistara poaches key men from IndiGo, JetLite
Vistara, the Tata-Singapore Airlines joint venture, which is awaiting flying permit from the aviation regulator DGCA, has inducted a senior pilot from IndiGo to head its safety team, according to sources. Besides, the carrier has also picked up JetLite quality manager Deepak Joshi to be a part of its safety wing, sources familiar with the development told.
Vistara, in which Tata Sons has 51 per cent stake with the rest being held by Singapore Airlines, is likely to take off next month subject to issuance of the air operator permit (AOP) by the Directorate General of Civil Aviation (DGCA).
"IndiGo senior Commander Ashutosh Verma has moved to Vistara where he has been made head of the safety wing," the sources said.
4. US Open: Federer, Djokovic lose in semifinals
Roger Federer could not pull off another big escape at the US Open, losing 6-3, 6-4, 6-4 in the semifinals on Saturday against Croatia's Marin Cilic.
It was the second significant surprise of the day, coming after Novak Djokovic was beaten 6-4, 1-6, 7-6 (4), 6-3 by Japan's Kei Nishikori, who became the first man from Asia to reach a Grand Slam singles final.
5. Govt to go ahead with key appointments without LoP
Government has decided to go ahead with the appointments to various statutory bodies like CVC, NHRC and Lokpal without the leader of opposition in the Lok Sabha as a member of the selection committee choosing them.
The move comes following a recent reference from the Lok Sabha secretariat in this regard, official sources said.
The Department of Personnel and Training (DoPT) had written to the Lok Sabha seeking information on the LoP. The secretariat has informed the DoPT that there is no recognised LoP in the Lok Sabha, they said.
The government will go ahead with the appointments to various statutory bodies without the LoP, the sources said.
6. BRICS bank not aimed at challenging IMF, WB: Rajan
The move to establish BRICS bank is meant to provide patient money
and not to challenge the existing multilateral financial institutions like the IMF and the World Bank, RBI Governor Raghuram Rajan has said.“I don’t think it was primarily meant to challenge the existing multilateral institutions but it certainly is saying look we have plenty of money ourselves, why don’t we put some of this money to use in a way that benefits us rather than necessarily depending on the multilateral institutions to change which is taking much more time than anybody thought of,” he said.
The BRICS bank is meant to provide patient money, risk capital to long term projects, he said in a speech at an event organised in Chicago on Friday by the Chicago Council on Global Affairs.
7. BSNL, MTNL merger likely by July next year
he much-awaited merger of telecom PSUs, BSNL and MTNL, is likely to take place by July next year as the two companies look at synergising operations by offering services as a single entity.
At present, BSNL offers services in the whole country, except Delhi and Mumbai. MTNL provides telecom services in these two zones.
“The deadline of June-July 2015 has not been officially commissioned to the organisation but the merger is likely to take place in the time frame,” BSNL Director (consumer mobility) Anupam Shrivastava
8. Introduce GST but take states into confidence, experts urge Centre
The proposed goods and services tax (GST) by the Union Government will give a great boost to the Indian economy by removing the anomalies in the taxation system and making it more rational besides increasing tax revenue and exports substantially, according to taxation experts.
However, the Union Government should take care to protect the interests of the States in the process and address their concerns.
9. Government of India can print Re 1 note: Law Ministry
Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination.
While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values of Rs. 2, Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1,000, Rs. 5,000 and Rs. 10,000, the one rupee note was printed and issued by the central government.
The Government of India also has the sole right to mint coins of all denominations.
10. Govt to come up with ‘comprehensive policy’ for MSME sector
he government will soon introduce a new comprehensive policy for the MSME sector after incorporating suggestions from related associations, Union Minister, Kalraj Mishra said today.
He counted the problems of entrepreneurs in setting up a Micro, Small and Medium Enterprises (MSME) unit and said that the government would incorporate suggestions from the industry bodies and association so that a progressive environment can be made.
“I held meeting with representatives of 80 associations in Delhi and sought their suggestions to make the draft policy. We will incorporate important suggestions and soon introduce the draft policy,” he said here at a meeting of “Laghu Udyog Bharti”, which represents small scale industries.
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