New Delhi

UIDAI allows face recognition for Aadhaar authentication

Aadhaar will include face recognition alongside iris or fingerprint scan as a means of verifying users, helping those who face issues in biometric authentication or have worn-out fingerprints, the authority in charge of the national identity card system said on Monday.

The face authentication will be enabled by July to help people facing difficulty in biometric authentication due to old age, hardwork or worn-out fingerprints, the Unique Identification Authority of India (UIDAI) said in a statement.

Rs 5,000 crore special fund for food processing likely

The government proposes to accord top priority to development of food processing industry in the upcoming budget by announcing a special fund with a corpus of up to Rs 5,000 crore.

The proposed fund would aim at promoting investment in the food and agro-processing units coming up in mega food parks, industrial estates and export promotion parks by offering affordable credit with easier terms.

Universal health cover on lines of Obamacare on cards

The government is likely to unveil a comprehensive universal health insurance scheme on the lines of Obamacare covering the entire population, including vulnerable sections (below poverty level) and the unorganised sector. The premium would be subsidised but would differ from category to category.

The universal health insurance scheme that could subsume the current Rashtriya Swasthya Bima Yojana (RSBY) is likely to be unveiled in the budget.

FDI easing, liquidity inflows open floodgates

It has been a fast and furious ride — almost unidirectional — this January, as government reform measures on FDI rationalisation and gushing overseas and domestic liquidity has lifted all boats. For the first fortnight of trade, bulge bracket foreign portfolio investors (FPIs) have been net buyers of Indian equity to the tune of Rs 806.20 crore.

Infosys Q3 profit up 38%

Infosys on Friday posted over 38 per cent jump in third quarter net profit after it got a one-time tax benefit from US operations.

FDI boost for innerwear brands

Innerwear companies are likely to be the biggest beneficiaries of 100 per cent foreign direct investment (FDI) through automatic route, said analysts.

On Thursday, Page Industries shares gained 0.42 per cent to close at a whopping Rs 23,065.65 on BSE after the government announced 100 per cent FDI in single brand retail through automatic route. Rupa & Company shares also gained 0.78 per cent while Lux Industries shares gained 0.18 per cent.

Onion price up at Rs 50-60/kg; will cool down soon, says govt

Retail onion price has risen to Rs 50-60/kg in some parts of the country but the government said it is a “temporary phase” and the rates will cool down by the month-end with improved arrival of the kharif crop. Onion is being sold at over Rs 50/kg in the national capital, Mumbai and Kolkata. In Chennai, the price is ruling at Rs 45/kg, as per official data. A similar trend prevails in small cities as well. “It’s a temporary phase. Traders are taking advantage of the temporary ups and downs,” agriculture secretary SK Pattanayak said.

FinMin rejects railways’ demand for 10% rise in outlay

The finance ministry may keep the plan outlay of Indian Railways at current level in the budget as the government is resorting to borrowing in the face of lower revenue collection.

The finance ministry is learnt to have rejected 8-10 per cent increase in plan outlay sought by the public sector transporter, which has been on a spending-spree to build new rail lines and upgrade existing ones.

Separate agri budget for Telangana from this year

With farmers issues becoming a hot topic during the elections, Telan­gana chief minister K Chandra­sh­ekar  Rao has announced that a separate agriculture budget would be introduced from this year onwards. However, he clarified that there is no dearth of funds to support the agricultural sector in the state.