Plan and Policy

Plan & Policy

Panel may ease IBC qualification criteria

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.

Review GST rates: PwC

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.

Prabhu appeals for common ground to strengthen WTO

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).

New reforms unlikely before 2019 polls: Rajan

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.

Oppn slams govt insensitivity in breaking news

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.

Lone survivor demands withdrawal of trafficking case against him

Harjit Masih, the lone survivor who had managed to flee from ISIS captivity in Iraq in June 2014 following his abduction along with 39 other Indians there, on Tuesday asked the government to withdraw a case of human trafficking registered against him by the Punjab police.

Bodies of 39 Indians in Iraq found

All the 39 Indians abducted by the ISIS terror outfit in Mosul in Iraq three years ago are dead and their bodies have been recovered, External Affairs Minister Sushma Swaraj said on Tuesday.

Export duty on sugar scrapped on bumper output

A bumper production of sugarcane has prompted the government to withdraw 20 per cent export duty on raw and refined sugar, giving a boost to the industry.

The Central Board of Excise and Custom has notified the removal of duty. The government had earlier doubled the import duty by 100 per cent to discourage inflows from the global market.

The sugar production is expected to cross a record 29.5 million tonnes mark in 2017-18. Till the current month, 25.80 million tonnes of sugar has already been produced.