Plan and Policy

Plan & Policy

PMJDY is now open-ended

The government on Wed­nesday decided to make PMJDY an open-en­ded sch­e­me and added more incentives to encourage people to open bank accounts.

Briefing reporters, fina­n­ce minister Arun Jaitley said as the pradhan mantri jan dhan yojana (PMJDY) has been a “runway success”, the government has decided to make it an open-ended scheme, meaning that it will continue indefinitely.

Hike minimum selling price of sugar, urges Isma

Sitting on a huge stock of around 10 million tonnes of sugar, industry body Isma on Wednesday demanded that the government should hike the minimum selling price of sweetener to Rs 36 per kg from the current Rs 29 per kg and fix compulsory export quota at 7 million tonnes to bail out the sector.

India produced a record 32 million tonnes of sugar in the current 2017-18 marketing year (October-September). This is estimated to rise to 35-35.5 million tonnes next marketing year as agai­nst the domestic demand of 26 million tonnes.

Apparel exports fall, may fail to stitch growth in FY19

After witnessing a 14 per cent decline in shipments in the first 4 mo­n­t­hs of the fin­a­ncial year, apparel exports are expected to register a decline this year too. A delay in export incentives and signifi­c­ant fall in demand from the UAE are likely to negate low base effect of last year.

In FY18, apparel exports had declined 4 per cent to $16.7 billion from $17.4 billion in FY17. In the first 4 months of FY19, exports have declined by 14.5 per cent to $5.3 billion from $6.2 billion in the year ago period.

Pariwartan in works to ease power woes

The government has fast-tracked work on formalising a new policy to “warehouse” about 25,000 mw stressed power assets after the Allahabad High Court denied interim relief to the sector against the Reserve Bank of India’s (RBI) February circular on stressed asset resolution.

India Inc announced M&A deals worth $34.8b in June qtr: EY

June quarter witnessed record high quarterly deal value of mergers and acquisitions activity, growing 6.8 times from the value in the same quarter last year.

M&A activity saw a significant y-o-y jump in both deal volume and disclosed deal value in the second quarter of 2018. While deal volume rose by 19 per cent to 273 deals, the disclosed deal value was 6.8 times up to $34.8 billion in comparison to $5.1 billion in the year ago quarter, as per the data from EY.

GST on overseas air tickets violates international norms: IATA chief

IATA chief Alexandre de Junica on Tuesday said that the government policies are imposing “excessive costs” on airlines in India and infrastructure constraints are limiting growth even as he projected the country’s aviation sector to register 500 million passengers by 2037.

PMFBY: Govt testing modern tech for assessment of crop damage

As many as nine pilot studies have been rolled out in 11 states to test the effectiveness of modern technologies in assessing the extent of yield loss for payment of crop insurance claims, the government said Tuesday.

The pilot studies are being carried out in Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu and Telangana.

DoT to seek applications for in-flight Internet in Oct

The department of telecommunications (DoT) in October is likely to invite applications from entities for providing in-flight Internet services, a senior government official said on Tuesday.

With in-flight connectivity, passengers would be able to make calls and browse the Internet during their flights in the Indian airspace.