Plan and Policy

Plan & Policy

BJP-Cong war of words over Gujarat continues

The Gujarat poll outcome sparked a political war of words on Tuesday with Congress president Rahul Gandhi calling it a “massive jolt” to the BJP, drawing ridicule from the ruling party that he was “enjoying defeat as victory” under an illusion.

Govt proposes new firm to manage CPSE funds

The government proposes to set up a new company to manage surplus funds of central public sector enterprises (CPSEs).

These include maharatnas, as the government looks to professionalise treasury operations of these entities ensuring higher efficiency and returns.

CPSEs have reserves and surpluses of close to Rs 8 lakh crore, but in the absence of professionally managed treasury operations and restrictive regulations, most of these funds get parked with low return-bearing bank deposits and government bonds.

Extend pre-GST duty drawback rates till June: Par panel

A parliamentary panel has suggested the government to extend the pre-GST duty drawback rates until June next year or till the revenue department comes out with the revised rates for exporters.

In its report on the 'Impact of Goods and Services Tax (GST) on Exports' placed in Parliament today, the Standing Committee on Commerce chaired by Naresh Gujral recommended that a formal mechanism for grievance redressal of exporters must be put in place.

Extend pre-GST duty drawback rates till June: Par panel

A parliamentary panel has suggested the government to extend the pre-GST duty drawback rates until June next year or till the revenue department comes out with the revised rates for exporters.

In its report on the 'Impact of Goods and Services Tax (GST) on Exports' placed in Parliament today, the Standing Committee on Commerce chaired by Naresh Gujral recommended that a formal mechanism for grievance redressal of exporters must be put in place.

Govt recovered less than 9% service tax arrears in FY17: CAG

The revenue department recovered only around 9 per cent of service tax arrears in 2016-17 even as the number of cases detected increased from the previous fiscal, government auditor CAG said today.

The department had an opening balance of Rs 2,658.31 crore in arrears to be realised in 2016-17, but with an addition of Rs 6,176.31 crore during the fiscal the total went up to Rs 8,834.62 crore.

Parliament passes Companies Amendment Bill

A bill to amend the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doing business in the country, was passed by Parliament today.

The Rajya Sabha passed the Companies (Amendment) Bill, 2017 by a voice vote. It was adopted by the Lok Sabha in July this year during the Monsoon Session.

Himachal follows tradition: ousts cong for BJP

The BJP wrested power from the ruling Congress  in Himachal Pradesh reducing it to just 21 seats in the 68-member Assembly. With a 10 per cent jump in vote share that touched 48.7 per cent, it garnered 44 seats. It had won 26 seats in 2012. It had 36 seats earlier, and its vote share declined by 1 percentage point to 41.8 per cent. The CPI(M) won the Theog seat, while the Dehra seat went to an independent.

Crop insurance growth to taper down in FY18

After a three-fold growth in premiums in 2016-17, crop insurance might see the growth tapering down to 10 to 15 per cent this year and government may miss the target of covering 40 per cent of crop area, find industry insiders. Apa­rt from delay in the payme­nt premium subsidy from the government and consequent delay in claim settlement, GST on reinsurance premium too will act agai­nst the growth in crop insurance segment.

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