It also approved extension of the Freight Subsidy Scheme 2002 for far-flung areas till 31 March 2015. The Freight Subsidy Scheme 2002 provides for freight subsidy to PDS Kerosene and Domestic LPG consumers in far-flung areas.
This is the second time since January 2015 that RBI reduced the repo rate by 25 basis points. With this, the reverse repo rate under the LAF stands adjusted to 6.5 percent, and the marginal standing facility (MSF) rate and the Bank rate to 8.5 percent.
The agreement empowers the RBI to go for inflation targeting that is common in developed countries and it also empowers RBI to monitor its monetary policy framework.
Core sector growth declined to 13-month low of 1.8 percent in January 2015 as compare to 3.7 percent in 2014.
Arun Jaitley presented Union Budget 2015-16 in the Parliament.
The Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarises the performance on major development programmes and highlights the policy initiatives of the government
Railway Minister Suresh Prabhu on 26 February 2015 presented his maiden Rail Budget 2015-16 in the Lok Sabha.
In the budget, Prabhu gave 11 thrust areas to improve quality of life in train journeys which also includes Swachh Rail - Swachh Bharat drive.
In this regard, Rail Budget 2015 – 16 unveiled certain initiatives ranging from cleanliness drive to development of infrastructure to improving the overall quality of life in train journeys.
Passenger fair was not hiked while the facility of booking tickets in advance has been increased to 120 days instead of 60 days which was available till date.
The scheme will be implemented through NTPC and NTPC Vidyut Vyapar Nigam Limited in three tranches.
For these two benches, there will be a creation of two posts of Vice-Chairmen in the Apex scale and four posts of Members (two posts of Revenue Members and two posts of Law Members).
The MoU was signed to enhance the business skills and project-related skills of the beneficiaries under Prime Minister’s Employment Generation Programme (PMEGP).
The CCEA also fixed uniform rate of export subsidy at 4000 rupees per metric tonne for 2014-15 sugar season
The four highway projects will be carried on in Uttar Pradesh, Odisha and Chhattisgarh.
eBiz, an Indian Government-to-Business (G2B) portal was conceptualised by National Institute of Smart Government (NISG) and developed by Infosys ltd, Bangalore.
RBI permitted the nominated banks to import gold on consignment basis, whereas, all sale of gold domestically will be against upfront payments.
It was set up for settlement of EPF Inoperative Accounts having 27000 crore rupees as balance. There are about 8.15 crore inoperative provident fund accounts.
With this move, government aims to protect the domestic industry from below-cost shipments of graphite electrodes.
The notes printed by the Government of India will carry the bilingual signature of Rajiv Mehrishi, Finance Secretary.
CBI was directed to investigate the role of market regulator SEBI and the RBI for effecting a mechanism.
Among the beneficiaries, SBI leads the pack with a capitalization of 2970 crore rupees and is followed by BoB with 1260 rupees, Punjab National Bank with 870 crore rupees and Canara Bank with 570 crore rupees.
The MoU is aimed at fostering collaboration on research and exchange of technical expertise in areas of material sciences and testing capabilities for bank notes, security documents and coins.
Government divested 63.16 crores shares (10 percent) of CIL through offer for sale (OFS) at a floor price of 358 rupees per share and realized an amount of 22557.63 crore rupees through the disinvestment process.
A high Powered Committee chaired by R Gandhi constituted to re-examine and recommend set of businesses, size, conversion and licensing terms for the Urban Cooperative Banking Sector.
HDFC Bank would raise the fund through issuing of equity shares to non-resident Indians (NRIs) or foreign institutional investors (FIIs) or foreign portfolio investors (FPIs) subject to aggregate foreign shareholding not exceeding 74 per cent of the post issue paid up capital.
The Cabinet Committee on Economic Affairs (CCEA) on 28 January 2015 approved mandatory packaging of food-grains and sugar in Jute material for the Jute Year 2014-15 with certain exemptions.
RBI inked MoU on Supervisory Cooperation and Exchange of Supervisory Information with Banco Central do Brasil (BCB).
The directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. Changes are effected during the tenure of the ECB.
Shanta Kumar Committee on 21 January 2015 submitted its report on restructuring of Food Corporation of India (FCI) to the Prime Minister Narendra Modi.