Plan and Policy

Plan & Policy

Govt puts curbs on pvt cos for export of beach sand minerals

Concerned over rising illegal mining of beach sand minerals such as garnet, leucoxene, sillimanite, illeminite, rutile and zircon that occur along the vast coastline of India, the government has decided to canalise its exports through public sector firm Indian Rare Earths Ltd.

The move is being seen as yet another attempt to choke the operations of private sector miners that were already operating in the area with a plethora of restrictions considering that several of the beach sand minerals occur along with monazite (which contains thorium), a radioactive mineral.

Gold jewellery exports up 220%, gold bar imports leap by 302%

Without any significant growth in demand from any of the markets, gold jewellery exports from SEZ/EPZs have surged by 220 per cent between April and July, while that from DTA is down by 7 per cent. Import of gold bar too has recorded a huge leap of 450 per cent in July and 302 per cent between April and July.

Kerala: Govt sets timeline for insurers to settle claims

In a move to bring Kerala back on the track, the government has set a timeline for all insurance companies to settle their claims as soon as possible. This includes claims for damage caused by the recent floods to life, property, vehicles and other items.

Now, a government subsidy for cheaper air travel in Asia

In a bid to spur traffic growth on international routes, the Centre on Wednesday unveiled the draft scheme for launching subsidised flights to cities in the Asian region such as Singapore, Bangkok, Dhaka and Kuala Lumpur.

The scheme is the international version of domestic UDAN that promises to give wing to the common man by offering tickets priced below Rs 2,500. But unlike domestic UDAN, which is being funded by levying a fee on each departing flight connecting major cities, the international UDAN would be partially funded by state governments that opt for the scheme.

Kerala Received 41% above normal rains, S Kerala got 150% in excess

Monsoon rains and widespread flooding that wrecked Kerala and claimed around 400 lives according to some reports have a telling fact behind them — the state has received 41 per cent more rains than normal for the period June 1 to August 22. For August alone till Wednesday, it was lashed with 150 per cent above normal rains, grinding southern Kerala to a halt and ruining its economy.

Thousands of people have been displaced in the floods and Kerala chief minister Pinarayi Vijayan has pegged the state’s losses at over Rs 19,512 crore.

‘Will raise credit from global agencies for rebuilding’

Kerala, which has started its reconstruction process after state-wide floods, has estimated Rs 20,000 crore as just loss of agriculture and damage to property. The real economic loss would be much higher. Talking to Sangeetha G, Kerala Finance Minister T M Thomas Isaac said that the state would look at raising credit from multi-lateral agencies including World Bank for the reconstruction process. Short-term resource mobilization measures will include cess of SGST and cess on liquor sales.  

After sedition charge, now Rs 5 L bounty on Sidhu

A purported video in which a fringe group activist is seen announcing a reward of Rs 5 lakh on the head of Punjab minister Navjot Singh Sidhu, who recently visited Islamabad to attend the swearing-in ceremony of Imran Khan as Pakistan prime minister, has surfaced.

‘Will raise credit from global agencies for rebuilding’

Kerala, which has started its reconstruction process after state-wide floods, has estimated Rs 20,000 crore as just loss of agriculture and damage to property. The real economic loss would be much higher. Kerala Finance minister TM Thomas Issac tells Sangeetha G that the state would look at raising credit from multi-lateral agencies including World Bank for the reconstruction process.

India Inc may find loans abroad costlier as easy money ends

Indian firms have enjoyed the cheapest foreign-currency loan costs in more than a decade, but may find the tides turning as banks become more selective.

That’s the view of Sandeep Bhatt, Mumbai-based senior regional manager for India at Export Development Canada, which has been active on Indian loans including major recent deals such as NatSteel Asia Pte, a unit of Tata Steel Ltd. “Spreads on investment-grade dollar loans for Indian borrowers may rise over the next six months,” he said.

Pages