Plan and Policy

Plan & Policy

Sebi warns PNB for late disclosures in Nirav Modi scam

PNB said today that markets regulator Sebi has warned it for delay in  disclosures to stock exchanges about the USD 2 billion fraudulent transactions allegedly carried out by Nirav Modi and Gitanjali Group of companies.

Taking serious note of delay in making disclosures, Sebi has issued a warning letter to state-owned Punjab National Bank -- the country's second largest lender.

Six states to petition president for change in finance panel ToRs

Finance ministers of six non-BJP ruled states would meet President Ram Nath Kovind in New Delhi on Thursday and submit a me­morandum, seeking amendments to the terms of reference (ToRs) of the 15th Finance Commission.

The finance ministers of Kerala, West Bengal, Pudu­cherry, Punjab and Delhi, besides Andhra Pradesh, will be part of the delegation, state finance minister Yanamala Ramakrishnudu said.

Cabinet secy assault: Police to quiz Kejriwal

The Delhi Police has sent a notice to Chief Minister Arvind Kejriwal asking him to appear before it on Friday in connection with the alleged assault on chief secretary Anshu Prakash in February, police said. Reacting sharply to the development, Aam Adami Party has alleged that Prime Minister Narendra Modi is “misusing” Delhi police to “bother” Kejriwal.

CEA to hand hold states in plugging revenue gap

With some states facing revenue shortfall even after 10 months of GST rollout, chief economic adviser Ar­vind Subramanian has been tasked with suggesting ways for the laggard states to sh­ore up their tax mop-up.

The GST council in its May 4 meeting had identified about 5 states, including Punjab and Bihar, which fa­ce maximum revenue shortfall after implementation of the indirect tax regime from July 1, 2017.

Cabinet okays setting up of Rs 5,000cr micro irrigation fund

The government on Wed­nesday approved a dedicated Rs 5,000 crore fund to bring more land area under micro-irrigation as part of its objecti­ve to boost farm production and farmers income.

The fund has been set up under Nabard, which will pr­ovide this amount to states on concessional rate of interest to promote micro-irrigation, which currently has a coverage of only 10 million hectares as against the pot­ential of 70 million hectares.

Sharad Yadav to launch Loktantrik Janata Dal on May 18

Aiming to stitch an alliance of non-BJP parties to oust the NDA major from power and introduce “politics of socialism”, supporters of rebel JD(U) leader Sharad Yadav will formally launch their party Loktantrik Janata Dal (LJD) here on May 18.

The party is being formed with Yadav as its “mentor”, a leader of the rebel group Arun Srivastava said. The foundation convention will be held at Talkatora Stadium, where around 8,000 members of the LJD are expected to converge on the day, Srivastava added.

Army moves HC against Nirmal Singh’s wife

The Army has moved an application before the J&K High Court seeking contempt proceedings against Mamta Singh, the wife of BJP leader and Speaker of the State Legislative Assembly, Nirmal Singh for going ahead with construction on a disputed piece of land in Nagrota in Jammu.

The contempt petition was filed after Mamta allegedly in violation of a court order did not stop the construction, for which the Army had raised serious objections including the one of posing a security risk to the ammunition depot of the Army situated adjacent to the piece of land owned by her.

Ten Karnataka Ministers Bite The Dust In Polls

At least 10 ministers fell by the wayside as they lost their seats in an anti-incumbency wave that swept the Siddaramaiah government out of power in the assembly polls Siddaramaiah himself lost by a huge margin of 36,042 votes in his traditional constituency of Chamundeshwari in Mysuru to JDS' GT Deve Gowda.

He, however, managed to scrape through in Badami in north Karnataka, where he won by a slender margin of 1,696 votes after a see-saw battle against BJP’s B Sriramulu, a close associate of the mining baron Reddy brothers.

MLAs cooped up, but for how long, worry Cong-JD(S)

Hiding a kitten for a fortnight is no big deal, but keeping 117 legislators safe and ‘unreachable’ is a tough proposition. Well, that’s the weighty responsibility the leaders of Congress and JDS will have until the day when BS Yeddyurappa proves his majority on the floor of the house.  He is expected to swear in at 930 am today.

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