New Delhi

Onus of pulses procurement may go to states

The government is planning to shift the responsibility of procuring and distributing pulses to states while the Centre will play a supervisory role in the functioning of Rs 11,000 crore price stabilisation fund (PSF).
Since the fund is huge and the procurement has to be completed within a specified period, states will do a better job if they are provided the necessary policy support and funds, sources in the consumer affairs ministry said.

Defaulters, firms with NPAs barred from bidding for assets under IBC

Willful defaulters and corporate entities, whose accounts have been marked as NPAs and senior executives holding management control in such firms, have been barred from bidding for assets under the insolvency law with the President giving his assent to an ordinance to amend the bankruptcy code.

The ordinance seeks to disqualify any unscrupulous or undesirable person from misusing or vitiating provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).

M&A among oil & gas PSUs exempted from CCI approval

The government has exempted public sector oil & gas companies from seeking the Competition Commission of India’s approval for mergers and acquisitions, paving the way for Oil and Natural Gas Corporation (ONGC) to complete its proposed acquisition of the government’s entire 51.11 per cent stake in Hindustan Petroleum Corporation (HPCL).

The relaxation comes within months of the government clarifying that the HPCL deal would also not require ONGC to make an open offer for the remaining equity under the Securities and Exchange Board of India’s (Sebi’s) takeover code.

Govt nod for raising carpet area to boost sale of ready-built flats

In a major boost to the real estate sector, the Union government has given the nod for increasing carpet areas of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme (CLSS) for the Middle Income Group (MIG) under Pradhan Mantri Awas Yojana. The move is a step in the direction of making houses more affordable for the middle class.

Hafiz Saeed release Pak attempt to ‘mainstream’ UN-proscribed terrorists: India

A day after a court in Lahore ordered to free Mumbai terror attack mastermind and banned JuD chief Hafiz Saeed from detention sources in the home department of Pakistan’s Punjab province insisted that Mumbai terror attack mastermind Hafiz Saeed will not be released from house arrest as he is being booked in another case. Saeed’s counsel advocate AK Dogar however, revealed that a large number of JuD workers have gathered outside Saeed’s residence in Jauhar Town Lahore to welcome him on his release on Thursday night.

S&P UPGRADE TO CATALYSE INDIA AS INVESTMENT HUB

Finance ministry mandarins are awaiting rating agency S&P’s verdict on India’s upgrade to match what Moody’s did recently with bated breath. The D-Day (November 24) is judgment day and it has arrived. It will announce its review on Friday. The government is anxious that it moves to the next level with a matching upgrade from the other global heavy hitter. Thereafter, if all goes well, it will strive for Baa1, which includes much smaller economies — Mauritius Thailand and Slovenia—at the moment. Policy mavens argue that there are enough grounds for a further upgrade.

Mittal sees tariffs stablising soon

After a bloody battle with Reliance Jio that saw four straight quarter drops in its net profit, country’s largest telecom operator Bharti Airtel now sees call and data charges stabilising soon as the arch rival has started not only charging but raising tariffs as well.

Politics of artistic freedom

Gujarat chief minister Vijay Rupani stalled the release of the controversial film Padmavati in the poll-bound state, and his Haryana counterpart ML Khattar said that it will be screened only after Censor Board’s clearance and Uttar Pradesh chief minister Yogi Adityanath held the film-maker equally responsible for stirring the unrest.

SC, HC judges to get salary hike; 200% jump on cards

After the Seventh Pay Commission hiked the salaries of government employees, its now the turn of the judiciary to take home a fatter pay package. The government on Wednesday approved revised salaries, gratuity, allowances and pension for the judges of the Supreme Court and the high courts, which will increase their monthly emoluments by over 200 per cent.

Brahmos test fired from Sukhoi jet, boost to IAF

In a major milestone, the Brahmos supersonic cruise missile was on Wednesday successfully test fired for the first time from the Indian Air Force’s frontline Sukhoi-30 MKI combat jet, significantly bolstering the country’s aerial prowess.

The armed forces are now capable of launching the Brahmos, which has a strike range of around 290 km and is described as the world’s fastest supersonic cruise missile, from land, sea and air, completing the tactical cruise missile triad for the country.

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