Economy To Grow At 5.3%: PMEAC

C. Rangarajan

In its report on the Economic Outlook for 2013-14, the Prime Minister’s economic advisory council (PMEAC) has predicted the economy to grow at 5.3% in this fiscal year, faster than the 5% growth rate in the previous fiscal year. C. Rangarajan, chairman of the council, said the higher growth estimate is due to expectations of healthy farm output, which is … [Read more...]

Govt Sets Up Tax Administration Reform Commission

Parthasarathy Shome

The government has set up a Tax Administration Reform Commission to review the application of tax policies and tax laws in the country. The Commission under Parthasarathy Shome will submit periodic reports that can be implemented to strengthen the capacity of the country's tax system. The Commission with a term of 18 months will review the existing mechanism … [Read more...]

Indian Railways Launches Multi-Genset Locomotives

Indian Railways

The Indian Railways have manufactured the first multi-genset locomotive in India, marking another milestone in the introduction of fuel efficient technologies for diesel engines. With this initiative, multi-genset locomotives will usher in new era of emissions compliant locomotives on Indian Railways. Indian Railways have undertaken development of prototype … [Read more...]

Sebi Gets More Powers

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President Pranab Mukherjee on July 18 promulgated an ordinance to provide more powers to market regulator Securities and Exchange Board of India (Sebi) to tackle fraudulent investment schemes and to monitor call data records of persons or companies suspected of any wrongdoing. SEBI would have now powers to regulate any pooling of funds under an … [Read more...]

Telegram Service In India Closed

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The government has decided to disband the over 160-year-old telegram service in the country from July 15. State-run telecom firm BSNL has decided to discontinue the service due to a huge shortfall in revenue. The first experimental electric telegraph line was started between Kolkata and Diamond Harbour in 1850 and it was opened for use by the East India … [Read more...]

Formation of NCRTC Gets Green Signal

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The Union Cabinet on July 11 approved constitution of National Capital Region Transport Corporation Limited (NCRTC) under the Companies Act, 1956 with initial seed capital of Rs 100 crore as per Company Act, 1956 for designing, developing, implementing, financing, operating and maintaining Regional Rapid Transit system (RRTS) in National Capital Region (NCR) … [Read more...]

CCA To Replace DGCA

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The Union Cabinet, at its meeting on July 11, accorded in- principle approval to the proposal of replacing Directorate General of Civil Aviation (DGCA) by a new aviation regulator, the Civil Aviation Authority (CAA), with full operational and financial autonomy.A bill to this effect is likely to be tabled in the upcoming Monsoon Session of Parliament. The … [Read more...]

2,000 Scholarships For Students With Disabilities

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The Union  Social Justice and Empowerment Ministry will award 2,000 scholarships to students with disabilities for pursuing professional courses during the academic year 2013-14 under two different schemes. Out of them, 1,500 scholarships will be awarded under the Trust Fund Scholarship Scheme to students with disabilities for professional courses at … [Read more...]

Telecom Commission Approves Hike In FDI Cap

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The Telecom Commission has approved the enhancement of the Foreign Direct Investment (FDI) limit in the telecom sector from 74 per cent to 100 per cent to re-energize the telecom industry. At present, FDI limit in Telecom sector is at 74 per cent where 49 per cent is through automatic route and the rest with the approval of the Foreign Investment Promotion … [Read more...]

GoM Approves Restructuring Of Centrally Sponsored Schemes

Chidambaram

The Union Cabinet on June 20 decided to restructure the existing Centrally Sponsored Scheme (CSS)/ Additional Central Assistance (ACA) schemes in the Twelfth Five Year Plan into 66 schemes, including Flagship programmes. This includes 17 Flagship programmes with significant outlays for major interventions required in health, education, irrigation, urban … [Read more...]