Plan and Policy

Plan & Policy

India’s crude steel output up 5.4% in Jan-July: WSA

India’s crude steel output increased by 5.4 per cent to 61.8 million tonnes in the first seven month of the calendar year 2018, according to World Steel Association.

The country had produced 58.6 million tonnes of crude steel in January-July of 2017, the association said in a statement. India’s crude steel production in July increased by 8.4 per cent to 9 million tonnes, over 8.3 million tonnes in July 2017, the release said.

Foodgrain output seen at 284.83m tonnes in 2017-18

India’s foodgrain production is estimated to grow to an all-time high of 284.83 million tonnes in the 2017-18 crop year ending June, driven by record output in wheat, rice, coarse cereals and pulses after a normal monsoon, according to the agriculture ministry.

Wheat output has been pegged at record 99.70 million tonnes, rice at 112.91 million tonnes and pulses at 25.23 million tonnes for the 2017-18 crop year, it said.

Nestle seals deal to market Starbucks coffee

Nespresso maker Nestle said it has sealed a deal to market the products of US coffee giant Starbucks around the world, outside of its cafes.

Swiss food giant Nestle, which also produces Nescafe instant coffee, had announced in May it would pay $7.15 billion (¤6.13 billion) for the rights to market Starbucks coffee globally.

PNB eyes IBC route for Rs 6,000cr power NPA recovery

Punjab National Bank, Ind­ia’s second largest lender, which has Rs 6,000 crore of power NPAs has decided to take the insolvency (IBC) ro­ute to resolve the issue, said an official.

It indicates that PNB will go for the NCLT route of recovery rather than debt restructuring with companies.

Bhushan Power and Ste­el, which owes more than Rs 48,500 crore to a consortium of lenders led by PNB, is one of the 12 large companies identified by RBI for early insolvency resolution.

Hue and cry over arrest of 5 human rights activists

The Maharashtra police on Tuesday raided homes of prominent Left-wing activists in several states and arrested at least five of them for suspected Maoist links, sparking a chorus of protests from human rights defenders.

The raids were carried out as part of a probe into the violence between Dalits and the upper caste Peshwas at Koregaon-Bhima village near Pune after an event called Elgar Paris­had, or conclave, on December 31 last year.

Fertiliser subsidy to be released from next week

With the government deciding to start paying fertiliser subsidy on weekly basis through a special payment gateway system from next week, farmers across the country can have a big relief as they would not have to wait for months to get their dues.

“To make the feriliser subsidy payments easy for farmer, the government will make the payment on weekly basis. The payment will be made to the beneficiaries through Aadhaar card, kisan credit card and voter identity card,” said a senior official in the fertiliser and chemicals ministry.

Piyush Goyal says Railways helping in rebuilding Kerala

As the water fury abates after the worst flooding in 100 years in Kerala, the relief and rehabilitation work gathers pace. But the displacement and pain lingers. It is clear that the road to recovery will be long and arduous. Indian Railways, which is the land's greatest connector, is also doing its bit, assiduously working 24 hours to provide relief to the beleaguered people of Kerala.

No place to hide for beneficial owners after September 11

The rich and mighty would soon find it difficult to hide their identity in companies floated to manage their business interests while avoiding scrutiny of tax authorities. By amending section 90 of the Companies Act, 2013 the government has made it mandatory to file details of significant beneficial owners in a company. It has notified the Companies (Significant Beneficial Owners or SBO) R-ules, 2018 and seems in no mood to relent on filing date or relaxing its provisions. The SBO rules came into effect last June and the deadline for filing the details is September 11, 2018.

Gujarat bank ‘scam’ charge: Defamation suit against Congress leaders

Criminal defamation suits were filed before a local court on Monday against Congresss leaders Rahul Gandhi and Randeep Singh Surjewala by the Ahmedabad District Cooperative Bank (ADCB) over their allegation that the bank was involved in a “scam” to convert “Rs 750 crore” within five days of demonetisation in 2016.

A plea filed by complainants — the ADCB and its chairman Ajay Patel — contended that the two leaders had levelled “false and defamatory allegations” against the bank.