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CCI imposes penalty on Chemists and Druggists Association of Baroda

3 days ago
The Competition Commission of India has imposed a penalty on the Chemists and Druggists Association of Baroda after it found it to be in contravention of the provisions of the Competition Act, 2002. The move was undertaken after a complaint alleged that the CDAB has indulged in restrictive trade practices.

Government constitutes Group of Ministers on issues relating to lottery

3 days ago
The Secretary of the GoM on issues relating to lottery shall be Manish Sinha, Joint Secretary (TRU-II), CBIC. The GoM will submit its report to the GST Council in next Meeting of the GST Council.

Cabinet approves Recapitalisation of Export-Import Bank of India

Jan 16, 2019
Exim Bank is the principal export credit agency for India. The infusion of capital into Exim Bank will enable it to augment capital adequacy and support Indian exports with enhanced ability.

7-Member GoM constituted for boosting Real Estate Sector under GST regime

Jan 16, 2019
The group has been tasked to provide a Composition Scheme for Residential Construction Units. It will examine and suggest ways for Composition Scheme or any other Scheme for boosting Real Estate Sector and suggest Scheme for Transition and its introduction

Sushil Modi to head committee to look into GST revenue shortfall faced by states

Jan 14, 2019
Bihar Deputy Chief Minister Sushil Modi will be heading the seven-member group of ministers (GoM) that will look into revenue shortfall being faced by the states after the GST roll-out and suggest steps for augmenting collections.

India set to become third-largest consumer market: WEF

Jan 10, 2019
India is set to become the third-largest consumer market behind only the US and China and consumer spending in India is expected to grow from USD 1.5 trillion at present to nearly USD 6 trillion by 2030, as per a World Economic Forum report.

RBI forms Nandan Nilekani led Committee to boost digital payments

Jan 10, 2019
The five-member committee will be headed by UIDAI’s former Chairman Nandan Nilekani. The committee will review the existing status of digitisation of payments and suggest ways to bridge any gaps in the ecosystem.

SEBI constitutes advisory panel to link research to policy making

Jan 9, 2019
Market regulator Security and Exchange Board of India has constituted a "research advisory" committee that will assist in formulating policy to undertake research relevant for development and regulation of capital markets.

RBI constitutes U.K. Sinha led Expert Committee on Micro, Small & Medium Enterprises

Jan 3, 2019
The central bank announced the constitution of the Committee in its Fifth Bi-Monthly Monetary Policy Statement 2018-19, that was released on December 5, 2018.

Top Cabinet Approvals: 3 January 2019

Jan 3, 2019
The Union Cabinet has approved the continuation of Rastriya Yuva Sashaktikaran Karyakram scheme for the period 2017-18 to 2019-2020 with a budget outlay of Rs 1160 crore as recommended by EFC.

Cabinet approves merger of Vijaya Bank, Dena Bank and Bank of Baroda; first-ever three way merger in Indian Banking

Jan 3, 2019
The amalgamation will be the first-ever three-way consolidation of banks in India. The amalgamated entity will be India's second largest Public Sector Bank and India’s third largest bank with a total business of more than Rs 14.82 lakh crore.

RBI releases guidelines on restructuring MSMEs loans; allows restructuring of debt up to Rs 25 crore

Jan 2, 2019
The central bank allowed a one-time restructuring of existing debt of up to Rs 25 crore for the MSMEs which have defaulted on payment, however, the loans given to them continue to be classified as standard assets.

RBI constitutes Expert Committee headed by Bimal Jalan on Economic Capital Framework

Dec 27, 2018
The Committee will review status, need and justification of various provisions, reserves and buffers presently provided for by the Reserve Bank of India.

MSME Ministry proposes to establish governing council to boost shipments

Dec 26, 2018
The Ministry of Micro, Small and Medium Enterprises has proposed to establish a governing council to ensure efficient delivery of all export-related interventions, as a part of its action plan to boost shipments from micro, small and medium enterprises.

GST Council reduces GST Rates of 23 goods and services; revised rates effective from January 1, 2019

Dec 24, 2018
The GST rate on movie tickets, costing up to Rs 100, was cut to 12 percent from 18 percent, while tickets over 100 rupees will attract 18 percent tax against 28 percent. Monitors and TV screens up to 32-inches and power banks will attract 18 percent GST, as against 28 percent earlier.

SDG India Index 2018: Himachal Pradesh, Kerala, Tamil Nadu ranked as Front Runners

Dec 21, 2018
The SDG India Index acts as a bridge between these mandates, aligning the SDGs with the Prime Minister’s clarion call of ‘Sabka Saath, Sabka Vikas’, which embodies the five Ps of the global SDG movement – People, Planet, Prosperity, Partnership and Peace.

Union Government to set up panel to look into tax issues faced by start-ups

Dec 21, 2018
The Union Government has decided to set up an expert committee to look into all the taxation issues being faced by startups and angel investors. The key objective behind the move is the promotion of startups in India.

Top Cabinet Approvals: 18 December 2018

Dec 18, 2018
The Union Cabinet has approved the establishment of two new AIIMS at Madurai, Tamil Nadu and Bibinagar, Telangana. Each new AIIMS will add 100 undergraduate seats and 60 B.Sc. seats and would have 15-20 super specialty departments and around 750 hospital beds.

Supreme Court dismisses all petitions alleging irregularities in Rafale Deal

Dec 15, 2018
The Supreme Court has dismissed a group of petitions that demanded an independent probe into the controversial Rafale fighter jet deal, stating that it was satisfied with the procurement process. The court stated that the perception of individuals cannot be a ground for the Court to interfere.

India, ADB sign USD 60 Million loan agreement to reduce floods in Assam

Dec 14, 2018
The loan agreement aims to continue financing riverbank protection works, renovation of flood embankments, and community-based flood risk management activities in critically flood-prone areas along the Brahmaputra River in Assam.

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