Archive

April 8th, 2015

First of Scorpene Submarines-Kalvari ‘Undocked’

Kalvari, first of the Indian Navy’s Scorpene class stealth submarines being built under the Project 75, under collaboration with M/s DCNS, France, achieved a major milestone today with her ‘undocking’ at the Mazagon Dock Limited (MDL).

The event was witnessed by the Defence Minister Shri Manohar Parrikar, the Chief Minister of Maharashtra Shri Devendra Fadnavis and the Chief of the Naval Staff Admiral RK Dhowan amongst other dignitaries present at the landmark occasion.

Indian power firms want ban on Chinese equipment

Power transmission infrastructure in the country's 18 major cities could be potentially hacked leading to national security threats and major disruption of power if the concerns of a prominent trade body are to be believed.

April 7th

RSS-affiliate upset over Land Ordinance - Swadeshi Jan Sansad on GM Food Crops, Land Acquisition Ordinance & Other Economic Policies

New Delhi, Apr 6 (PTI): RSS-affiliate Swadeshi Jagran Manch (SJM) is unhappy with the government over its Land Acquisition Ordinance and some economic policies and has decided to stage a protest outside Parliament on May 5.

A meeting of the SJM's Executive saw members expressing "anguish" and "unhappiness" over government going ahead with economic policies and some of the measures without keeping in mind the interests of farmers and other affected classes, including landless labourers, sources said.

April 2nd

Foreign Trade Policy 2015-2020 Unveiled

Two New Schemes – “Merchandise Exports From India Scheme” And “Services Exports From India Scheme” Introduced

March 17th

Bad loans a major concern for many banks


Loans worth Rs 55,000cr may turn bad by March 31

Banks have identified 74 large projects that have either turned into non-performing assets or where promoters have delayed paying the instalments, putting at stake the future of loans worth close to Rs 55,000 crore that have been disbursed.

SBI aims to cut bad debt with huge online property auction

The State Bank of India will hold a record online auction to sell repossessed flats, warehouses and offices worth a total of nearly $200 million as the state lender seeks to chip away at its $10 billion mountain of bad debt.

SBI's auction will be the biggest nationwide online sale to date and is a rare public move to turn distressed loans into ready cash.

It comes weeks ahead of rule changes that will force banks to take on much larger provisions for such loans, with what were previously labelled as restructured debts being reclassified in accounts as bad debt.

March 13th

Parliament passes insurance bill

The bill raises the overseas investment cap in insurance companies to 49% from 26% .

The enactment of the bill will also raise the foreign investment cap in the pension sector since it was linked to the ceiling in the insurance sector at the time of the passage of the Pension Fund Regulatory and Development Authority bill in 2013.

February 28th

आम बजट 2015-16


— पेंशन फंड में छूट एक लाख से बढ़ाकर, 1.5 लाख की गई
— सरचार्ज को 10 फीसदी से बढ़ाकर 12 फीसदी किया गया
— कॉपोरेट करों में 5 फीसदी की छूट, इनकम टैक्स में कोई बदलाव नहीं
केबल टीवी और वाई-फाई भी महंगा होगा
— ट्रांसपोर्ट अलाउंस 800 से बढ़कर 1600 रुपए हुआ
— स्वच्छ भारत और क्लीन गंगा फंड
— गंभीर बीमारी के इलाज की छूट 60 से 80 हजार
1 हजार से ज्‍यादा के जूते सस्‍ते होंगे

February 26th

Railways for setting up a full-fledged railway university during 2015-16. Railways to undertake systematic human resource audit

The Union Railway Minister Shri Suresh Prabhakar Prabhu has announced that a systematic Human Resource Audit would be undertaken to prepare the workforce of Indian Railways for the future and for enhancing organizational performance . Presenting the Railway Budget for 2015-16 in Parliament today he informed the members that as part of the focused Human Resource strategy, measures would be adopted to raise employee productivity in line with global standards. It is also proposed to pursue creation a separate accounting head for HRD and develop ERP based Human Resource Management System.

Financial Performance of Railways during 2014-15

Railway Minister Shri Suresh Prabhkar Prabhu has said that the passenger earnings which were budgeted to increase by 22.2% have been scaled down to 17.7% keeping in view the persistent negative growth trend, particularly in non suburban non-PRS segment of travel. Presenting the Railway Budget 2015-16 in Parliament today, he said there is a net reduction in Gross Traffic Receipts by Rs 917 crore in RE compared to the BE of Rs 1,60,165 crore.