Plan and Policy

Plan & Policy

BJP to take up LS poll strategy on Jan 11-12

The BJP national council, the party's largest organisational body, will meet here on January 11-12, while its key wings will hold meetings across the country in the coming weeks as it steps up its campaign for the Lok Sabha polls in 2019.

The dates were finalised at a meeting, which was chaired by BJP president Amit Shah, of the party's office bearers and key leaders from states but there was no discussion on its defeat in the five state polls, party general secretary Bhupendra Yadav told a press conference. The state poll results were not on the agenda, he said.

Merchandise exports to rise by 7% to $82b in Q3

The export-import (Ex­im) bank has said India’s merchandise sh­ipment is expected to rise by 7 per cent to $82.39 billion during the third quarter th­is fiscal. Non-oil exports are projected to be increase by 7.2 per cent to $71.45 billion.

Exim bank forecasts In­d­ia’s merchandise exports to wi­tness a growth rate of 7 per cent, increasing from $77 billion to $82.39 billion, and non-oil exports to see a gr­owth rate of 7.2 per cent, increasing from $66.65 billion to $71.45 billion, during the third quarter of 2018-19, it said in a release.

Ease PCA, one-day default norms: PSBs

Newly appointed reserve bank governor Shaktikanta Das on Thursday met with the heads of public sector banks who sought some relaxations in the prompt corrective action (PCA) framework and the one-day default norms announced by the RBI in its February 12 circular. The meeting took place a day ahead of the crucial meeting of the central board of RBI here, which will take up a host of contentious issues, including the PCA norms.

RBI part of govt, must aid its vision: Gadkari

Saying the government has not “destroyed the Reserve Bank as an institution,” Union minister Nitin Gadkari on Thursday asserted the central bank is part and parcel of the government and therefore it has to support the economic vision of the government of the day.

Jaitley points to Patel-government sticking points

Asserting that the government is the most important manager of the economy, finance minister Arun Jaitley on Thursday acknowledged that there were two-three areas of differences with the RBI, but questioned how discussions on its functioning could destroy an autonomous institution like the central bank. Speaking at an economic conclave, the finance minister said the differences with RBI included credit flow in the economy and liquidity support, adding that the government had initiated a “discussion” to convey its concerns.

Farm loan waivers worst solution for rural crisis: SBI

The poll-bound Modi government may announce a holistic or selective farm loan waiver, however, it could be the “worst solution” to alleviate farmers’ distress, warn economists at SBI Research.

Instead, they suggest that income support schemes may be a more effective alternative and bold steps are needed to address rural distress, days after the ruling Bharatiya Janata Party’s (BJP) loss in three key state elections where farmers have been hit by low prices and higher input cost.

GST council may slap cess on cars to boost e-vehicles

The GST council may raise cess on cars to mobilise resources for providing subsidy to electric vehicles. The move is also aimed at reducing dependency on fossil fuel through promotion of green energy sources.

The government levies a GST (goods and services tax) of 28 per cent besides a cess of 15 per cent. The cess on bigger cars like mid-sized sedans and SUVs is higher and may be raised to 25 per cent.

IndiGo’s CEO top choice GREG Taylor resigns

In what appears to be a deep unease at the country’s largest airline IndiGo, its senior advisor Greg Taylor, who was tipped to be its next CEO, is learnt to have resigned. Industry sources claimed that Taylor was miffed over the appointment of Ronojoy Dutta as principal consultant in the company. Appointed early this month, Dutta has now emerged as the top choice for the CEO post, which is lying vacant since the exit of Aditya Ghosh. Sources said Taylor will leave the company at the end of December.