New Delhi

Centre seeks report from J&K govt on IAS Shah Faesal’s ‘rapistan’ tweet

The Centre has sought a report from Jammu and Kashmir government on IAS officer Shah Faesal’s “rapistan” tweet. The state government has been asked by the Department of Personnel and Training (DoPT) to share details of the case based on which future course of the action in the matter will be decided, they said.

Faesal, a 2010-batch IAS officer currently pursuing a mid-career masters programme in the US, is facing disciplinary proceedings over his controversial tweet.

Either restore Taj Mahal or demolish it: SC to Govt

Restore the pristine beauty of the historic Taj Mahal or “you can demolish it if you like.”

An angry Supreme Court made these observations on Wednesday as it came down heavily on the Centre, the Uttar Pradesh government and various authorities for their “lethargy” and “apathy” in taking steps to protect the iconic monument, dubbing the issue of its preservation as a “hopeless cause”.

DoT accepts Trai’s net neutrality rules

The Department of Telecom (DoT) on Wednesday approved net neutrality rules recommended by Trai that debar internet and telecom service providers from blocking or throttling content or services or granting greater speed access to a select few. A few critical care services have, however, been exempted from this law.

Telecom regulator Trai has already grounded Facebook’s Free Basics and Airtel’s Zero under the policy of free and open internet. An intense debate had preceded the Trai decision, with some favouring an open internet policy and some others opposing it.

GST on some more items to be cut

The GST Council may consider reduction in tax rates on host of items with low revenue implications as part of the tax rationalisation exercise in its next meeting on July 21.

The items, which could be considered for cutting of tax rates might include sanitary napkins, handicrafts and handloom goods, besides certain services.

Several industry bodies and stakeholders have been demanding duty cut on items, especially those linked to general health and employment generation in the unorganised sector.

Banks fear Mudra loans sans Collateral may become NPAs

Sensing a bigger credit risk on the government’s Mudra loan disbursement to the tune of Rs 6 lakh crore till date, mostly to first-time entrepreneurs, the lender community has expressed concerns in this regard to the finance ministry and sought stricter procedures to prevent the segment from becoming the latest poster boy for bad loans.

Govt mulls 1% cess on luxury items to build farm corpus

The GST Council may consider a fresh proposal to levy 1 per cent agriculture cess on luxury items to provide resources for meeting additional subsidy needs for the farming sector, particularly cane farmers whose dues from sugar mills have reached unsustainable levels.

BSNL to invest Rs 7000 crore to upgrade to 4G network: Anupam Shrivastava

Government is trying to find a way to allot 4G spectrum to BSNL and very soon some positive developments could take place in this regard, Telecom Minister Manoj Sinha said on Wednesday.

“We are trying to find out methods to allot spectrum  to BSNL .. . I think very soon some positive decisions are expected on this:, the Minister told Financial Chronicle. 

Andhra number 1 in ease of doing biz; Telangana second

Andhra Pradesh has topped the ease of doing annual business ranking of states and Union Territories by the World Bank and Department of Industrial Policy and Promotion (DIPP). Telangana and Haryana are at the second and third positions, respectively, according to a statement issued by DIPP. Others in the top ten are Jharkhand (4), Gujarat (5), Chhattisgarh (6), Madhya Pradesh (7), Karnataka (8), Rajasthan (9) and West Bengal (10). Meghalaya was ranked last at 36th position.

IndusInd Bank Q1 net up 24% at Rs1,036 crore

Private sector lender IndusInd Bank on Tuesday posted a 24 per cent rise in net profit at Rs 1,036 crore for the June quarter on the  back of higher advances and core interest income. The Mumbai-based bank had posted a net profit of Rs 837 crore in the year-ago period.