New Delhi

Onus of pulses procurement may go to states

The government is planning to shift the responsibility of procuring and distributing pulses to states while the Centre will play a supervisory role in the functioning of Rs 11,000 crore price stabilisation fund (PSF).
Since the fund is huge and the procurement has to be completed within a specified period, states will do a better job if they are provided the necessary policy support and funds, sources in the consumer affairs ministry said.

By end of FY18 pending investor grievances declined 16%, says Sebi

Investor grievances pending with Sebi dropped by 16 per cent to nearly 3,800 at the end of 2017-18 with the markets regulator working on their expeditious disposal, according to a Sebi report.       

The number of pending actionable grievances stood at 4,476 as on March 31, 2017.

According to the SCORES data, such complaints numbered at 3,771 as on March 31, 2018, registering a fall of 15.75 per cent from the year-ago period.

July witnesses 11 PE exits worth $376 million: EY

Indian PE funds have returned significant amount of capital to their investors and July 2018 recorded 11 exits totalling $376 million, says an EY report.

According to the report, there were eight exits worth $352 million in July last year.

Through exit route, private equity investors realise the return on their investment after a certain amount of time. Some of the widely used exit routes include Initial Public Offering (IPO), secondary buyout and through open market.

Small stocks fall 13% so far this year

The BSE's Small-cap and Mid-cap indices have failed to impress, with smaller stocks falling up to 13 per cent so far this year against their bigger peers.

While the Mid-cap Index fell by 1,580.74 points, or 8.86 per cent so far this year, fall in the Small-cap has been more sharp as it plunged 2,488.03 poi­nts, or 12.93 per cent, an analysis of the performance of the indices showed. On the other hand, the 30-share blue chip Sensex has gained 3,795.17 points, or 11.14 per cent.

Spectrum auction to be taken up on August 31

The telecom commission, apex decision making body at the telecom department, is likely to meet on August 31 to discuss Trai’s recommendation on spectrum allocation, according to official sources. “The next telecom commission meeting is proposed for August 31,” a source told without disclosing agenda of the meeting.

Another DoT source said, though agenda has not been freezed for the meeting but it is likely to take up some of the recommendation made by the telecom regulatory authority of India (Trai) regarding spectrum allocation.

CPI inflation seen at 4.4% in FY19

Retail inflation is expected to average 4.4 per cent this financial year, up from 3.6 per cent recorded in the last fiscal, says a report. According to Kotak Economic Research, CPI inflation is expected to remain at sub-5 per cent level but uncertainties in domestic, global front could impact its trajectory. “We expect CPI inflation to stay broadly capped at 5 per cent in FY19,” Kotak economic research said in a note, adding, “We expect CPI inflation to average 4.4 per cent in FY19 (3.6 per cent in FY18)”.

House panel for cut in price of power tillers

A parliamentary panel has pulled up the government for not taking steps to lower the prices of power tillers and check cartels in the agri-machinery sector. Most farmers in the country are small and marginal, who could hardly afford costly agri-equipment and machineries. In this sc-enario, power tillers with flexibility, multi-purpose nature and low cost are considered ideal to enhance mechanisation level, it said.

PM pledges space mission, healthcare plan

India will launch its first manned space mission by 2022 and roll out a health insurance scheme fro-m September, prime ninister Narendra Modi said on Wednesday in his last Independence Day speech ahead of next year’s general elections.

Modi, a powerful speaker who will seek re-election in the world’s biggest democracy early next year, used the speech to broadcast his government’s achievements, amid concerns about lack of jobs and rising violence against the Muslim minority.

FinMin mulling auction of some stressed power assets

Sensing that the Reserve Bank of India (RBI) may not budge from its hard position on giving relief to stressed power assets, the finance ministry, along with the power ministry, is mulling a proposal to auction some of these power plants. It has also favoured higher reserve price for these assets to help debtors realise maximum value and prevent distress sale of power plants having potential to generate cash quickly.

Govt asks TV channels not to air magic pill ads

Companies offering magic pills for ailments ranging from common illness to life threatening diseases such as cancer and AIDS are now under the government scanner. The I&B ministry through advisories has asked television channels not to air their promos.

Alongside fake and substandard medicines, the market of magic pills has been thriving on misleading and false claims. It has emerged a big menace with social media and sponsored content in TV fuelling the growth of magic pills.