The Centre clarified that the members of the retirement fund body EPFO, who have made EPF contributions on wages above the statutory limit, would be benefited accordingly, reported PTI. At present, the statutory wage limit for becoming a member of the Employees Provident Fund Organisation (EPFO) is Rs 15,000 per month. In order to contribute more than the statutory ceiling, the employers are re
The Indian Government has said that it has given in principle approval to upgrade 57,500 km of state highways to national highways so as to augment the existing 1.13 lakh km of NHs across the country. Commenting on the issue, Minister of State for Road Transport and Highways Pon Radhakrishnan told the media, "About 57,500 km length of state roads have been approved 'in principle' f
The Indian Government has said that it has approved Rs 5,021 crore as assistance to 10 states hit by calamities, including flood and drought. As per reports, the High Level Committee, headed by Home Minister Rajnath Singh, approved the central assistance to Andhra Pradesh, Assam, Bihar, Himachal Pradesh, Karnataka, Manipur, Rajasthan, Tamil Nadu, Telangana and Uttar Pradesh.
The Indian Government has said that there have been over 57,000 technical snags reported by airlines in India between 2014 and February this year. Commenting on the issue, Minister of State for Civil Aviation Jayant Sinha told the media, “The number of snags have also grown by over 20 per cent in 2016 compared to the previous year with these glitches going up from 17,483 to 21,500.”
The Indian Government has said that the use of energy efficient LED bulbs has led to reduction of power bills by Rs 20,000 crore. Commenting on the issue, Power Minister Piyush Goyal told the media, “The per piece cost of these bulbs has gone down from over Rs 300 to Rs 38.” He said in the first wind power auction conducted by SECI, the non-windy states will get wind power from wind
Asserting that the government fully stood by its November 8 demonetisation, Union Finance Minister Arun Jaitley on Thursday said the decision was needed to "shock the shadow economy" running parallel to the country's economy.
Responding to a lengthy debate in the Rajya Sabha on the 2017-18 General Budget, the minister said that in the last seven decades, Indians have fou
T the next few days, you will hear of some policy decisions taken between the RBI and the government, in order to bring pressure to bear in resolving the NPAs situation," Jaitley said at the CNBC awards event here.
He said that although the NPA amounts are large, the major ones are restricted to a limited number of companies.
"Big NPAs are confined to to 30..40..at
The central government on Thursday said facilities like lifts, ramps, toilets and wheelchairs are being provided at all the airports managed by the Airports Authority of India (AAI) to persons with disabilities.
This was being done to ensure dignified treatment during their air travel, the government said.
According to the Ministry of Civil Aviation, it has laid down regulat
The government said it was working on steps to reduce India's dependence on large scale import of active pharmaceutical ingredients (APIs), as members in Rajya Sabha expressed concern over the issue, reported PTI. Responding to the concerns during the Zero Hour, Commerce Minister Nirmala Sitharaman said huge imports of pharmaceutical raw materials was a matter of serious concern.
The government has approved a Rs 2,029-crore project for widening of Mumbai harbour channel at the Jawaharlal Nehru Port in Mumbai. "The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved fresh estimates of the project Deepening and Widening of Mumbai Harbour Channel and JN Port Channel (Phase-II). The cost of the project will be Rs 2,029 crore exc
The Goods and Services Tax (GST) enabling bills will be placed in Parliament for approval this week itself, Minister of State for Finance Arjun Ram Meghwal said on Thursday.
The four GST Bills -- Central Goods and Services Tax (CGST) Bill 2017, Integrated Goods and Services Tax (IGST) Bill 2017, Union Territory Goods and Services Tax Bill (UTGST) 2017, and Goods and Services Tax (Comp
The union cabinet has approved the proposal for Fund of Funds of Start-ups (FFS) which was established in June, last year with a corpus of Rs 1,000 crore, as per the government release. The government said in a release that, “The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the following proposals with regard to the Fund of Funds of Start-ups (FFS) which was esta
The policies of the government should be market-friendly rather than being business friendly, former RBI Governor Y V Reddy said as per the PTI report. Addressing an event here, he said the primary role of the state is to protect the rights of its citizens. Reddy advocated that the government policies should be market-friendly, rather than being business friendly.
Referring to the Cen
The Cabinet Committee on Economic Affairs (CCEA) has approved policy for extension to the Production Sharing Contracts (PSC) inked by government awarding pre-NELP exploration blocks, as per the government release.
The CCEA said in a statement that, “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has approved a policy for grant of extension
Chennai-based state lender Indian Overseas Bank will get Rs 1,100 crore as "turnaround-linked capital" infusion from the government. The bank said it has received a communication from the Finance Ministry for a capital allocation of Rs 1,100 crore as part of turnaround linked capital infusion plan.
The government has approved the second tranche of capital infusion in public
The Indian Government has said that it is planning to set up a single window online system for providing all information and services related to international trade. As per reports, the plan is to provide importers and exporters the facility to submit applications and clearance documents as well as obtaining approvals and benefits electronically at a single point only in a digital mode.
The Indian Government has said that action will be taken against 9.29 lakh entities who have not responded to the I-T department's queries over cash deposited by them which did not match their income profile. Commenting on the issue, Finance Minister Arun Jaitley told the media, “During the 50-day demonetisation period, 18 lakh entities deposited scrapped notes of Rs 500 and 1000, whi
The government has approved Rs 6,721-crore projects in Meghalaya and Mizoram for development of 403 kms of National Highways. "The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for development of 403 kms of National Highways in Meghalaya and Mizoram," a statement from the Ministry of Road Transport and Highways said after the CC
The Finance Minister has said that five legislations will soon be introduced in Parliament with the objective of rolling out the comprehensive indirect tax reform GST from July 1. Commenting on the issue, Finance Minister Arun Jaitley told the media, "The Government will bring before Parliament four GST legislations and there will be a fifth legislation as Excise and Customs Acts will have
The Indian Government has said that it's credit-linked interest subsidy scheme for housing loans taken by people in mid-income groups has been made effective from January 1 under which EMIs will go down by over Rs 2,000 per month. As per reports, Prime Minister Narendra Modi had on December 31 last year announced Credit Linked Subsidy Scheme for Middle Income Groups -- CLSS(MIG).
The Indian Government has said that nuclear power generation capacity in the country is expected to reach nearly 15,000 MW by 2024 as it has expedited the process of setting up new plants. Commenting on the issue, Minister of State for PMO Jitendra Singh told the media, “A number of steps have been taken by the Narendra Modi government to fast-track all ongoing nuclear projects and settin
The Indian Government has said that seventeen states have agreed to form joint ventures with the Railways to fast-track infrastructure projects. Commenting on the issue, Railways Minister Suresh Prabhu told the media that by entering into a joint venture, the states will have ownership over projects and ensure that the infrastructure develops at a faster pace.
“A new scheme will
Chennai-based state lender Indian Overseas Bank has said that it will get Rs 1,100 crore as turnaround-linked capital infusion from the government. The bank has said it has received a communication from the Finance Ministry for a capital allocation of Rs 1,100 crore as part of turnaround linked capital infusion plan.
As per reports, the Government has approved the second tranche of ca
Big infrastructure projects worth Rs 150 crore and above are running behind schedule and have cost overrun, Parliament was informed today. As many as 1,186 such projects were under the monitoring of the ministry at the end of December 2016, Minister of Statistics and Programme Implementation D V Sadananda Gowda said in a written reply in Lok Sabha. "Of these 1,186 projects, 94 projects are
The Foreign Exchange Earnings (FEEs) through tourism increased by 12 per cent at over Rs 15,200 crore in February in comparison to the same month last year, the government said. "FEEs during the month of February 2017 were Rs 15,260 crore as compared to Rs 13,627 crore in February 2016," the Tourism Ministry said in a statement. During the January-February period, the FEEs were Rs 31,