Plan and Policy

Plan & Policy

Panel to meet businesses, experts today on GST return simplification

As it looks to finalise a single-page return form for businesses under the goods and services tax (GST), the ministerial panel headed by Bihar deputy chief minister Sushil Modi will meet all stakeholders on Tuesday to take them on board on the two crucial provisions.

The panel met here on Monday to discuss the rollout of reverse charge mechanism, an anti-evasion provision in the new indirect tax regime. It is expected to take up the issue again in May before taking final call on it.

CBI charge sheet against Lalu, kin in IRCTC case

The CBI on Monday filed a charge sheet against two companies and 12 people, including former railway minister Lalu Prasad, his wife Rabri Devi and son Tejashwi Yadav, for alleged irregularities in granting an operational contract of two IRCTC hotels to a private firm. The charge sheet was filed in a special CBI court here, officials said.

Ex-Union minister PC Gupta, his wife Sa­rla Gu­p­ta, then GM of IRCTC BK Agarwal, who is at present additional me­mber of Railway Board, then MD of IRCTC PK Goyal have been named in the charge sheet.

India needs to create 8.1m jobs annually

India needs to create 8.1 million jobs a year to maintain its employment rate, said a World Bank report which projected the country’s growth to accelerate to 7.3 per cent in the current financial year. It has projected the growth rate to increase further to 7.5 per cent in the following two years.

Govt to launch gas trading hub by Oct

The government plans to launch a natural gas trading hub by October, creating an Indian gas benchmark, which will spark a surge in consumption of the cleaner-burning fuel.

Death for raping minors, NC president seeks bill

Lending support to chief minister Mehbooba Mufti’s tweet, “We will never ever let another child suffer in this way. We will bring a new law that will make the death penalty mandatory for those who rape minors”, J&K Opposition National Conference (NC) president Farooq Abdullah has demanded a special session of Jammu and Kashmir Legislative Assembly to bring in a bill to award capital punishment to those who rape minors.

19 coalmines’ auction likely this quarter

After the cancellation of coalmines auction twice, the government is exploring certain relaxations for bidders and plans to put on sale 19 blocks in the current quarter, a top official has said.

The government had last year annulled the fifth round of auction on account of poor response from bidders.

“Yes we are wanting to do the next round of coal block auction. This is probably the right time,” coal secretary Susheel Kumar told PTI. “So in this quarter, it (coal block auction) should happen,” he added.

Robust exports, investment must to achieve 8% growth: ADB

India can achieve over 8 per cent growth rate in a sustained manner if it takes steps to revive investments and make exports competitive, said ADB economist Abhijit Sen Gupta.

Efforts will also have to be made to streamline agriculture marketing and improve supply chain, he said, adding that this is the area where there is scope for more reforms. “Right now, the investment and exports drivers are really not firing. Once those two engines fire up India can sustainably grow at 8 per cent,” Sen Gupta said.

IPL host cities see rise in traction for hotels, flights

Cities hosting IPL matches are witnessing a marked rise in traction this season, mainly on the back of red­u­c­ed airfares, summer vacati­o­ns and the love for cricket, according to experts.

“In India, cricket is like a religion and IPL, with its do­se of action and entertainment, has taken the excitement off to another level. The platform is witnessing a marked rise in traction during this IPL season as you­n­g­er population begins to flock for marking their support for their favourite teams,” Pay­tm V-P Abhishek Rajan said.

NPA maze: Govt for scrapping of one-day default norm

The finance ministry is said to have suggested the Rese­rve Bank of India (RBI) to sc­r­ap the one-day delay nor­ms in its stressed asset resolution framework. Und­er the present norm, failure in loan repayment by even for a day beyond the 90-day period makes the loan an NPA.