Plan and Policy

Plan & Policy

GST council asks Centre, states to set up appellate authorities

The GST council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the authority for advance rulings (AAR).

With AARs in different states started giving rulings since March, it has become imperative for the Centre as well as states to set up the appellate authority for advance ruling (AAAR), an official said.

India sixth richest nation with $8,230 billion wealth

India is the sixth wealthiest country in the world with a total wealth of $8,230 billi­on, while the US is the richest nation globally, says a report. According to the AfrAsia Bank Global Wealth Mig­r­ation Review, the US is the wealthiest nation with a total wealth of $62,584 billion, followed by China ($24,803 billion) at the second place and Japan ($19,522 billion) at the third place.

Airtel’s reply on Apple Watch eSIM service sought by May 24

The DoT has sought reply within a week from Airtel on a complaint by rival Reliance Jio alleging that the operator flouted norms on activation of eSIM in Apple Watch 3, an official source said.

The department of telecom also mentioned that the security clearance tests for the service are due on May 23 and May 30, 2018.

The DoT on May 27 has sought multiple clarification within a week from Airtel about eSIM service facilitation by the company on Apple Watch 3. Both, Reliance Jio and Bharti Airtel are selling Apple Watch Series 3 since May 11 through their sales channels.

FinMin expects banks to get back Rs 1 lakh cr with resolution of 12 major NPAs

Enthused by successful conclusion of Bhushan Steel case, the finance ministry expects banks to write back more than Rs 1 lakh crore after the resolution of all 12 NPA cases referred to insolvency proceedings by the RBI it its first list.

Last week, Tata Group acquired controlling stake of 72.65 per cent in the debt-ridden Bhushan Steel for around Rs 36,000 crore. It will help in cleansing the banking system as well as boost lenders profitability.

India mulls tariff hike on 20 US products

In a retaliatory move, India has told the World Trade Organisation (WTO) that it proposes to raise duties by up to 100 per cent on 20 products such as almonds, apple and specific motorcycles imported from the US from next month, if Washington does not roll back high tariffs on certain steel and aluminium items.

C’garh: Naxals blow up police vehicle; 7 cops killed

Seven police personnel were killed after Naxals blew up their vehicle in Chhattisgarh’s Dantewada district on Sunday. The attack took place on a day when Union Home Minister Rajanth Singh was scheduled to arrive in the state. Singh is arriving in Surguja district to attend the passing out parade of the CRPF’s Bastariya battalion on Monday. The newly formed Bastariya Battalion comprises 739 tribal youths from insurgency-hit Bastar.

Kumaraswamy to meet Sonia, Rahul in Delhi today

Ahead of his swearing-in as the Karnataka chief minister, JD(S) leader HD Kumaraswamy will meet  Congress leaders Sonia Gandhi and Rahul Gandhi in Delhi on Monday to discuss the modalities of government formation. Clarifying that no discussion has taken place so far on the allocation of ministerial berths, Kumaraswamy rubbished reports on the power-sharing formula of 30 months each between the parties.

Petrol, diesel at record high; mindless govt says all well

Even as petrol and diesel prices went through the roof to touch the all-time high of Rs 76.24 per litre and Rs 67.57, respectively (in Delhi), on Sunday, the government seemed to be oblivious to the hard impact of this surge and claimed the economy is on a strong wicket.

FinMin asks Niti Aayog to rework MSP mechanism

Though it is now late, the finance ministry is waking up to the fact that the MSP mechanism approved by the Rajanath Singh-headed GoM is a sword of Democles hanging over the food subsidy bill and fiscal deficit limit. Conveying its concern, the ministry has asked Niti Aayog to rework the percentage of compensation figures to keep the outgo under control.

The government will also have to make the subsidy WTO complaint and therefore reworking the figures is a necessity now, said a ministry official.

PMO proposes overhaul of selection of IAS, IPS officers

In a radical change that would alter the entire process of selection of civil servants, the government has proposed making the service and the cadre of probationer officers only after they complete a three-month foundation course.