March 17th, 2015

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.

Rail Technology Co-Operation Scheme Proposed to be Launched

The Union Railway Minister Shri Suresh Prabhakar Prabhu has announced the proposal to launch “Foreign Rail Technology Cooperation Scheme” in order to achieve the higher quality service for our nation. Presenting the Railway Budget for 2015-16 in Parliament today he said that Technology intensive and complex projects like speed raising and station redevelopment require lot of handholding by a specialized agency in terms of preparatory work, exploring technology options and managing bid processes.

Railway Minister Outlines Four Goals for Transforming Indian Railways over next Five Years

The Minister of Railways Shri Suresh Prabhakar Prabhu has outlined four goals for Indian Railways to transform it over the next five years. These goals are:

a) To deliver a sustained and measurable improvement in customer experience, the Indian Railways is launching initiatives that will systematically address customer concerns about cleanliness, comfort, accessibility, service quality and speed of trains.

b) To make Rail a safer means of travel.

Nine Major Thrust Areas in the Railway Budget 2015-16

The Minister of Railways Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2015-16 in Parliament today has said that there are nine thrust areas in this Budget which are as follows:

1. Indian Railways to become prime mover of economy once again
2. Resource Mobilization for higher Investments
3. Decongestion of heavy haul routes and speeding up of trains: emphasis on gauge conversion, doubling, tripling and electrification
4. Project delivery
5. Passenger Amenities.
6. Safety
7. Transparency & System Improvement.

Rail Budget 2015-16 (Highlights)

देश भर में कुल 12,617 यात्री ट्रेनें चलती हैं।

— रेल कर्मचारियों के लिए भी सुविधाएं बढेंगी।
इस बार किसी नई रेलगाड़ी का ऐलान नहीं।
— पर्यटकों को आकर्षित करने के लिए गांधी सर्किट को बढ़ावा देने का प्रस्ताव।
— सरकारी कंपनियों के साथ नई रेल लाइन बढ़ाई जाएंगी।
— रेलवे भर्ती में पारदर्शिता लाने के लिए दो कोटियों में ऑनलाइन आवेदन प्रणाली शुरू की गई है।
— प्लान साइज में 52 फीसद की बढ़ोतरी।
— स्‍टेशन-गाडि़यों का नाम कंपनियों के नाम पर किया जाएगा। इसकी एवज में कंपनियों को पैसे चुकाने होंगे।

February 20th

Signature NDA budget to give magic touch, fulfill dreams, surprises?

by Prof. Shivaji Sarkar

The first full-fledged 2015-16is a crucial budget to be presented by the NDA government. It would be seen as a turning point in economy and political process.It should be a signature document with many surprises.

It has many promises to fulfill, many new courses to set, create the roadmap for investment, set the process for doing ease in business, ease tax structure, create jobs, most-favoured treatment for farm sector and many more.