Plan and Policy

Plan & Policy

Crew shortage, tech issues ground six A-I Dreamliners

Air-India, the national carrier, is under-utilising its flagship Boeing Dreamliner fleet due to flight crew shortage as well as technical issues. Of the 27 Boeing 787-800 (Dreamliner), only 21 are being deployed for operations every day, an airline source said.

PSBs asked to set up one platform for sale of defaulters’ assets

Strengthening another channel for recovery of dues by the public sector ba­nks (PSBs), the government on Tuesday asked lenders to set up a common platform for auctioning defaulters’ seized properties to attract competitive bids and increase recoveries from sales. PSBs, along with the Indi­an Banks’ Association, are in the process of launching an e-auction platform for st­andardising details of properties to be auctioned, financial services secretary Rajiv Kumar said. The platform may be ready in two-three months, he added.

Windfall for states as rupee depreciates

In the last six months states have made windfall gains from the current spurt in fuel prices even though it is burning a bigger hole in consumers’ pockets. They are being forced to pay all-time high prices for petrol and diesel.

Samsung doubles down in India, opens its biggest store world-wide

Samsung Electronics Co Ltd opened its biggest mobile store in the world in India on Tuesday as it tries to take pole position in the world’s second-biggest smartphone market amid fierce competition from Chinese brands.

The South Korean tech giant’s roughly 33,000 square foot (3,000 square meter) store in the southern tech hub of Bengaluru will help it extend its lead in India over global rival Apple Inc, which has yet to open any flagship stores in the country.

AAP gets EC notice in hawala case

Suspecting fudging of records, the Election Commission (EC) has issued a show-cause notice to Aam Aadmi Party (AAP) and asked it to explain discrepancies in the electoral funding statement.

The EC notice is based on information available with it and the tax department. The notice has mentioned transactions with hawala dealers claiming that the party has taken "accommodation entries from hawala operators to the tune of Rs 2 crore. A Delhi-based hospital chain is learnt to have donated the money to the start-up political party.

Suppliers liable to pay penalty for not passing GST rate cut benefits: NAA

In a first of its kind ruling, the National Anti-Profiteering Authority (NAA) on Mo­n­day ruled that suppliers will be liable to pay penalty for not passing the benefits of GST (goods and services tax) rate reduction on sale of goods. NAA gave its ruling in a case against Jaipur-based Sharma Trading Company, wherein it was alleged that the supplier had not red­uc­ed the price of ‘Vaseline’ in line with  reduction of GST and thus indulged in pr­ofiteering in contraventi­on of section 171 of CGST Act.

India’s economic growth to slow in H2 of FY19, says UBS

India’s economic growth is expected to moderate in the second half of this financial year after a strong first quarter, owing to tighter financial conditions, high oil prices and slowing global growth, says a UBS report.

The global financial services major expects real gross domestic product (GDP) growth to slow to 7-7.3 per cent in the second half of this financial year from 8.2 per cent in June 2018 quarter.

Google to comply with RBI norms for payment services

Internet major Google is learnt to have agreed to following the RBI’s local data storage norm for payment services but wants time until December to comply with.

“Google during the US visit of law and IT minister Ravi Shankar Prasad conveyed to him that they are ready to comply with RBI rules but want two months more to comply with data storage rule,” a government source told reporters.

Prasad visited Google headquarters in California in August-end where he met Google CEO Sundar Pichai.