The online data-theft controversy hit the Indian shores with IT minister Ravi Shankar Prasad threatening to summon Facebook promoter Mark Zuckerberg even as he stirred a political storm by questioning Congress’ links with Cambridge Analytica accused of misusing data sourced from the social media giant.
Plan and Policy
Plan & Policy
The Central Board of Excise and Customs (CBEC) has advised its officers to not withhold exporters’ refunds on account of minor procedural lapses or “non-substantive errors.”
RBI Deputy Governor Viral Acharya will meet Economic Affairs secretary Subhas Chandra Garg on March 22 to discuss the borrowing calender for 2018-19 fiscal.
The government has plans to borrow Rs 4.07 lakh crore from the money market in 2018-19. According to sources, they would along with other ministry officials, discuss the issues on the timing, tools of the government borrowing.
With FY18 fiscal approaching end, the government is quite confident of sticking to the revised fiscal deficit target of 3.5 per cent despite overshooting the full-year revised estimate in January this year.
The panel reviewing the Insolvency and Bankruptcy Code (IBC) may suggest easing of qualification criteria to allow larger participation in resolution process.
Sources said the panel is in favour of allowing companies that have not been in management of non-performing assets (NPA) to bid for stressed assets. Thus the treatment would bring out a clear distinction between promoters of defaulting firms that don’t have a managerial role, from those
who also manage stressed assets.
The government has practically closed the door for Ruias to take back control of Essar Steel post a resolution plan is approved by lenders and the loan defaulting entity is offered to the highest bidder.
Top consultancy firm PwC has suggested the government to cut peak GST (goods and services tax) rate to 20-22 per cent from 28 per cent now while clubbing the two rates of 12 and 18 per cent and keep it somewhere between 14-16 per cent.
Commerce minister Suresh Prabhu on Tuesday appealed to the WTO members to identify common ground for strengthening the multi-lateral trade body amid challenges being faced by it following the deadlock at the Buenos Aires ministerial in December.
Delegates from as many as 52 countries, including the US and China, are participating in the informal meeting of the WTO called by India amidst increasing protectionism in global trade. India has called this meet to explore options to reinvigorate the World Trade Organization (WTO).
Former Rsereve Bank of India (RBI) governor Raghuram Rajan on Tuesday said reforms are likely to be put on the shelf till the next general elections (2019) but expressed hope that the country will move up to a “higher plane of growth” thereafter.
A row erupted over the government’s handling of the abduction of 39 Indians in Iraq by ISIS four years ago after it was announced they were dead. Opposition parties and some family members slammed the government over the delay in announcing the death, saying it gave their families “false hope” that they were alive. External Affairs ministry rejected the charge.