Plan and Policy

Plan & Policy

FY19 growth to moderate after strong start: Report

The growth rate is expected to moderate this fiscal despite a strong start in the April-June quarter largely owing to tighter financial conditions, limited fiscal headroom and upcoming elections, says a DBS report.

“We doubt that India can sustain a growth trajectory above 8 per cent for the rest of this fiscal,” DBS said in a research note, adding that “We expect FY19 growth to moderate to 7.4 per cent this year.”

No relief on fuel prices soon, worse ahead likely

Consumers may have to wait for another month before there is any moderation in the retail price of petrol and diesel that reached new highs in the past few days in the wake of the rise in global oil prices and a sharp depreciation of the rupee.

Sources in the government said that though the centre has ruled out any immediate cut in excise duty on petroleum products, it may re-examine the situation next month and could consider changes if oil prices remain over $75 a barrel for most part of September and state governments come on board to reduce VAT rates.

Big crackdown against Maoists ‘overground’ supporters planned

A first-time concerted crackdown has been launched against ‘overground’ Maoist supporters in various states and about 500 such people have been apprehended by the security forces in Chhattisgarh alone over the last one year, the chief of country’s lead anti-Naxal operations force, the CRPF, has said.

CRPF Director General RR Bhatnagar said that this fresh action is being undertaken by them in coordination with state police forces with an aim to deny ‘space’ to the Left Wing Extremists and to counter them beyond the field operations.

15,000 FB likes, 5,000 Twitter followers must for Cong ticket in MP

Months to go for Assembly elections, the Madhya Pradesh Congress Committee (MPCC) has asked ticket aspirants to increase their social media presence making it mandatory for its leaders to have Twitter and Facebook accounts.

In a letter on September 2, MP coordination committee chief Chandra Prabhash Shekhar writes, “Candidates in upcoming polls must have 15,000 likes on their Facebook page, 5,000 followers on Twitter and a WhatsApp group of booth-level workers. They must like and also retweet every post on MPCC's Twitter account.

Cong wins closely fought civic polls in Karnataka; BJP falters

Less than four months after the Assembly election, the Congress on Monday won the most seats in Karnataka’s 105 urban local bodies, pushing the BJP to the second spot, and voicing confidence that a Congress-JD(S) combine will sweep the Lok Sabha polls.

About 1,800 businesses opt for migration to GST regime

About 1,800 businesses that were registered under the earlier VAT and service tax regime have applied for migrating to the GST regime.

The GST Council, in its meeting in July, had allowed businesses with provisional GST ID to migrate to the new GST regime.

RBI staff’s 2-day mass leave deferred

The two-day mass casual leave on September 4 and 5 called by the United Forum of Reserve Bank Officers and Employees (UFRBOE) has been deferred after discussion with the bank management, the union said Monday.

“Consequent to series of meeting between top management of Reserve Bank of India with unions, the forum has decided to defer the programme of mass causual leave scheduled on September 4 and 5 to first week of January, 2019 in response to the bank’s request to give some more time to resolve the demands,” a UFRBOE statement said.

SC construction ban hits realty stocks, could hamper sector revival

Realty stocks have dropped following a Supreme Court ban on construction activities in Maharashtra, Madhya Pradesh, Uttarakhand and the union territory of Chandigarh due to non-compliance with the Solid Waste Management Rules put into effect by the Ministry of Environment and Forests in April 2016.

Focused on inflation targeting, Patel took Rajan policies forward

Urjit Patel completes two years as the Reserve Bank of India (RBI) governor on Tuesday. When Patel took charge at the RBI, he had a tough task ahead of him as he had to step into Raghuram Rajan’s shoes by continuing with the reforms agenda.

His tenure so far has been full of ups and downs.

Late monsoon exit will help rabi growers

Farmers have reason to cheer as the rabi harvest is expected to bring higher yields due to the delayed departure of the southwest monsoon. The rains will help all the rabi crops — wheat, barley, oats and oilseed – in some states like Punjab, Haryana, Uttar Pradesh and Rajasthan because moisture is expected to stay longer in the soil.