Consumers shopping for eggs on Monday morning were taken aback. Prices have shot up to Rs 7 apiece in the national capital region. Till a day ago or so, they were being sold at Rs 5 apiece. The Poultry Federation of India (PFI) even said prices would go up further in the coming months. Traders attributed the sharp jump within a matter of 24 hours to higher prices in Barwala (Haryana), India’s largest wholesale market for eggs. At Barwala, rates rose by Rs 107 per 100 pieces in the first fortnight of this month.
Plan and Policy
Plan & Policy
The government has accorded infrastructure status to the logistics sector, a move that enables the segment to access low-cost funds from banks and financial institutions.
Inclusion of logistics in the overall definition of infrastructure will also mean the sector will enjoy duty and tax incentives while importing capital goods.
Industry experts said the decision is a big positive for the logistics sector and also reinforces its important position in the overall supply-chain, one of the focus areas of the government to make local industry more competitive.
As plans are afoot to include sale of land and properties under the goods and services tax (GST), the finance ministry is expected to consult the law ministry on the suggestions before taking up the matter for discussions in the next GST Council meeting.
The logistics sector has been granted infrastructure status which will help it access loans on easier terms, encourage manufacturing in the country and help improve economic growth, the government said today.
The cost of logistics in India is very high compared to developed countries and the sector's development will provide a boost to domestic as well as external demand, encouraging manufacturing and job creation, it said.
The sector covers cold chain, warehousing facilities and multimodal parks comprising Inland Container Depot (ICD), subject to certain conditions.
The President and the Vice- President continue to get less salaries as compared to the top bureaucrats and service chiefs since the laws are yet to be amended to rectify an anomaly with the implementation of the 7th Pay Commission’s recommendations nearly two years ago.
The proposal for enhancement of the salaries of the President, the Vice President and the Governors was prepared by the Union Home Ministry and forwarded to the Cabinet Secretariat more than a year ago for the approval of the Union Cabinet, a home ministry official said.
The debate on ‘dynastic politics’ on Sunday found an elaboration with Congress leader Jairam Ramesh calling it a “lazy” word coined to describe succession in politics. Ramesh was speaking at a discussion ‘Remembering Indira Commemorating Her Centenary’ at the Tata Litfest 2017 here. “Did Nehru launch a dynasty? No. Did Mrs Gandhi select her successor? Well, it appears that she did select her successor, but my views on dynasty in politics are somewhat different. I think ultimately, people have to go back and get elected. People are accountable.
Lower taxes and higher public expenditure could widen budget deficit in 2017-18, but steps taken by the government to broaden the tax base and improve spending efficiency would help in narrowing it going forward, US-based rating agency Moody’s said.
In an interview to PTI, Moody’s Investors Service vice-president (sovereign risk group) William Foster said the agency believes that the government’s commitment to fiscal consolidation remains and sustained growth would help it reduce debt burden.
Reliance Jio’ s recently launched cashback offers scheme will sail smoothly, as the telecom regulator Trai does not find any non-compliance issues with it.
The Mukesh Ambani-led Reliance Jio offer is facing charges levelled by GSM operators’ Cellular Operators Association of India or Coai, for submitting possible below cost tariff under the garb of such schemes.
The awarding of a Rs 1,000 crore contract for one of prime minister’s pet projects, GeM portal, to a small and a loss making company has raised eyebrows in the country’s IT circles. The Government e-Marketplace (GeM), under the Union commerce and industry ministry, has awarded this ambitious and innovative online e-commerce portal to a consortium led by Chennai-based Intellect Design Arena. The consortium also includes e-commerce company Infibeam.
With J&K governor NN Vohra having been appointed Tribune Trust president after the Chandigarh-headquartered newspaper’s apology for the Majithia drug syndicate story earlier this month, the government is keen on replacing him in the troubled state.
Immediately after the unsavoury episode of an ‘unconditional apology’ rendered by The Tribune for ‘illegal drug syndicate’ charges against Akali leader Bikram Singh Majithia, the newspaper’s Trust went ahead and changed its president Justice SS Sodhi with J&K governor NN Vohra.