Indian-Economy

Tea production crosses 1 billion kg-mark

The feat came to light following a major exercise launched by the industry regulator, the Tea Board of India, to bring within the net all segments of tea producers — organised and unorganised — many of whom were not reporting their crop statistics. Indian tea industry has finally breached the one billion kg-mark in production


SEBI revised norms of offer for sale mechanism

The Securities and Exchange Board of India (SEBI), on Friday, revised the offer for sale (OFS) mechanism as the deadline is approaching for the promoters of listed companies to offload their stake to meet the minimum public shareholding norm of 25 per cent by June 2013.


Govt hikes import duty on gold, platinum to 6%

The government on Monday announced a slew of measures including a hike in import duty on gold and platinum to discourage their consumption. It also eased the terms of gold deposit schemes of banks to encourage individuals to deposit their idle gold, which will help increase domestic supply.


3.5 crore MGNREGA post office accounts can now be used for cash transfers

With a single stroke, the government has made over 3.5 crore existing post office accounts ready for its new Aadhaar-linked cash transfer scheme. The accounts, which belong to MGNREGA workers over the country, were originally to be used only for receiving wages under the rural employment guarantee scheme.


Govt approves the partial de-notification of RIL SEZ

The Government and The Board of Approval has given its approval to Reliance Industries’ proposal to denotify 728.43 hectares, reducing the total area of its Jamnagar SEZ to 1035.72 hectares subject to refund of all tax benefits it received for developing the area. The company has also been asked to obtain a no-objection-certificate from the State Government of Gujarat.


Google-GETIT roll-out digital marketing for Coimbatore SMEs

Digital marketing company GETIT Infoservices on Friday rolled out its ‘DigiGains’, a platform for digital marketing, for the benefit of Small and Medium Entreprises (SMEs) in the region.


Govt. raises LPG cap to 9 cylinders per year

The Cabinet Committee on Political Affairs (CCPA) on Thursday raised the cap on supply of subsidised LPG cylinders to nine bottles from six per year per household and authorised the oil marketing companies (OMCs) to undertake periodical hike in diesel prices till the Rs. 9.60 paise per litre subsidy is completely wiped out. The increase in the LPG cap would mean an additional subsidy outgo of Rs. 9,300 crore annually.


Approval to mandate continuation of JNNRUM

The Cabinet Committee on Economic Affairs today approved the continuation of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) to sanction new projects and capacity building activities till 31st March, 2014 under Urban Infrastructure and Governance (UIG) and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT) components of JNNURM.


Panel recommends food entitlements for 67 p.c. of population

The Parliamentary Standing Committee on Food and Consumer Affairs in January 2013 suggested the entitlement of the food under the National Food Security Act to the 67 percent population leaving behind the 33 percent people who are tax-payers and have pucca houses of their own.


India, Vietnam sign MoU to strengthen micro, small & medium enterprises

India and Vietnam on Tuesday signed an MoU aimed at building capacity for developing institutional framework and identifying thrust areas and opportunities for micro, small and medium enterprises in this country. It was signed during the ongoing 4-day state visit of Vice President Hamid Ansari to Vietnam.


World Economic Forum at Davos: Kamal Nath to lead India delegation

Urban Development and Parliamentary Affairs Minister Kamal Nath will lead the Indian delegation to the annual meet of the World Economic Forum (WEF) at Davos, Switzerland, starting next week. This year's meeting will open on January 22 and continue till January 27 whose theme will be 'Resilient Dynamism'.


Cabinet okays Rs 12,517-cr capital infusion in PSU banks

An in-principle approval of the Cabinet has also been accorded for need-based additional capital infusion in public sector banks (PSBs) from 2013-14 to 2018-19 so as to help them conform to the Basel-III capital rules. Simply put, PSBs need not worry about capital support from the Government for adhering to the Basel-III capital norms.


GAIL’s Dabhol LNG terminal on stream

Gas Authority India Ltd (GAIL) has announced the successful commissioning of the Dabhol LNG terminal located at Ratnagiri in Maharashtra, around 340 km south of Mumbai. This 5 million tonnes capacity LNG terminal has been set up with an investment of Rs.4,000 crore and will go a long way in meeting the demand of user industries in Maharashtra.


President gives assent to money laundering, banking bills

Three financial sectors reforms laws including, Prevention of Money Laundering (Amendment) Bill and Banking Laws (Amendment) Bill, 2012 have now become law of the land with President Pranab Mukherjee giving assent to them. The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2012 also got the President's assent, an official statement said in New Delhi on Wednesday.


Banana Production Crosses 30 Million Tonne

Tamilnadu ranks first while Maharashtra comes second.


Focus of increasing Production of Pulses and Oilseeds


Enhancement of unit assistance under the Indira Awaas Yojana

The IAY is a flagship scheme of the Ministry of Rural Development and aims at addressing rural housing issues by providing grant for construction / upgradation of dwelling units of BPL families especially giving priority to Scheduled Castes/Scheduled Tribes, freed bonded labourers and physically challenged persons with financial assistance of Rs. 45,000/- in plain areas and Rs. 48,500/- in hilly /difficult areas.


Money laundering, banking bills become law


Arunachal in pact with NSDL for adoption of National Pension Scheme

Arunachal Pradesh has entered into an agreement with National Securities Depository Ltd (NSDL), authorising it to work as a Central Record Keeping Agency (CRA) for adoption of the National Pension System (NPS). NPS is an initiative of the Centre and Arunachal Pradesh is the 26th State to adopt it.


PR Fonroche, a joint venture inaugurated first solar power in Rajasthan under national solar mission.