Economy & Policy News Update
arrow Odisha targets 30,000 jobs in BPO sector by 2022, rolls out new policy
  Draft Odisha BPO policy-2019 offers capital investment subsidy of Rs 1.05 lakh for units within Bhubaneswar Municipal Corp; minimum 300 seats required for availing benefit
arrow Chhattisgarh recants sand mining rights from panchayats, cites misuse
  State-owned CMDC will now extract and mine sand, Baghel govt announces new royalty sharing formula
arrow Govt to infuse Rs 48,239 cr in 12 PSBs; Corporation Bank gets Rs 9,086 cr
  Allahabad Bank will be provided Rs 6,896 crore
arrow Govt's new electronics policy banks heavily on mobile manufacturing
  Government aims to generate Rs 13 trillion from handset sector by 2025 - half of the total target
arrow GST Council defers decision on rate revision for real estate to Sunday
  In its final recommendations on real estate, a GoM had favoured lowering GST rates on under-construction houses from 12% with input tax credit to 5% without input tax credit
arrow FDI equity inflows fall 7% to $33.5 bn in first nine months of FY19
  There has been a decline in FDI flows to six out of the 10 sectors during April-December 2018 as compared to last year
arrow Incomes fall as cow-related violence scuttles beef, leather exports: Report
  India is the largest exporter of beef in the world, exporting buffalo meat worth $4 billion a year. However, since 2014, exports have mostly declined
arrow Amid tragedy, Aero India 2019 to take off in Bengaluru on Wednesday
  All six vendors in the fray - Boeing and Lockheed Martin, MiG, Dassault, Saab and the Eurofighter GmbH - sent across their fighters to show off their aerobatics capabilities
arrow Cabinet clears ponzi Ordinance, fresh changes in the Companies Act
  The ordinance on ponzi schemes will prohibit all deposit-taking activities that are not regulated by various regulators
arrow Govt clears reform to enhance domestic oil and gas exploration
  Private sector to get bigger areas that belong to Oil India & ONGC
arrow Cabinet nod for long-pending KUSUM, 40GW solar rooftop schemes
  The long-pending KUSUM scheme (Kisan Urja Suraksha evam Utthaan Mahabhiyan) was approved by the CCEA
arrow Angel tax relief for startups: Funding cap for exemption raised to Rs 25 cr
  The angel tax is levied on start-ups that have received an equity infusion in excess of the fair valuation, with the premium being paid by the investors as their income
arrow Govt reverts to old system of awarding oil, gas blocks to boost production
  The new system of awarding blocks in not so prolific areas will replace a two-year-old method of awarding them to companies offering the highest revenue share to the government
arrow MSP hike to boost sugar mills' margins 300-400 bps: CRISIL Report
  On February 14, the government had announced a 7% increase in the minimum support price to Rs 31 per kg from Rs 29 for sugar
arrow CCEA approves launch of KUSUM scheme with Rs 34,000-crore central aid
  Performance-based incentives at Rs 0.40 per unit for five years will be be provided to discoms
arrow States should have roadmap to reduce fiscal deficit: Finance panel chief
  Singh made it clear that the commission wanted all the states to strictly adhere to the fiscal parameters enunciated in the FRBM Act by 2025
arrow Govt approves new national electronics policy, eyes one crore jobs by 2025
  Under the policy, the government aims to push manufacturing of strategic electronics required by defence and other strategic sector in the country
arrow ESIC board okays super speciality treatment with just 6-month contributions
  The board also decided that the ESIC would pay the entire expense of the hospitals run by the states, which are tied up by the body for treatment of its insured persons under the ESI scheme
arrow Rs 6,000 cash dole-out to each farmer may fetch votes for Modi: Report
  The report also said Prime Minister Narendra Modi's high approval rating is possibly because of the low ratings of the other contenders
arrow Odisha launches Rs 2196 cr worth projects, clears proposals of Rs 1197 cr
  The projects proposed across various sectors promised employment opportunities for 5,162 people
arrow Iron ore output likely to hit record 225 million tonnes in FY20
  Merchant producers in Odisha accelerating production with lease lapsing by March 2020
arrow ED pegs value of seized properties of Rose Valley at over Rs 4,500 crore
  The chit fund is estimated to have raised Rs 15,000 crore from investors
arrow States must ensure payment of Rs 20,000 cr to cane growers: Paswan
  Paswan has written to chief ministers of all sugar producing states, including Maharashtra and Uttar Pradesh, in this regard
arrow Politics has an unlikely victim: A plan that could end India's fuel worries
  The Maharashtra government has decided to relocate the proposed $44 billion oil refinery project to be built with investments from Saudi Arabia
arrow Govt may launch exchange traded fund of PSU bank stocks next fiscal: Report
  The bank exchange traded fund (ETF) would be in addition to the two ETFs -- CPSE ETF and Bharat-22 ETF -- launched by the government which have seen huge investor demand
arrow Income-Tax department raids drug firm Divi's Laboratories premises
  The company said the raids were conducted by the officials of Income-Tax Department under Section 132 of the Income-Tax Act
arrow Breather for startups: Govt raises investment cap for angel tax concession
  No entity with a turnover of Rs 100 crore and above can be called a startup any longer.
arrow Gold stays near 10-month peak; Palladium trades at record high
  A new round of talks between Beijing and the United States to resolve their trade spat will take place in Washington later in the day, with follow-up sessions at a higher level in the course of the we
arrow Top LPG supplier leaked millions of Aadhaar data: Security researcher
  A French researcher claimed he found a security lapse that allegedly exposed millions of Aadhaar numbers of dealers and distributors associated with Indane, an LPG brand owned by the Indian Oil
arrow How Swachh Bharat Mission's pit toilets failed to help flood-prone areas
  Flood-prone areas get twin-pit toilets, not Ecosans, all to meet Swachh Bharat Mission targets
arrow Maharashtra to move planned Saudi Aramco refinery after farmers protest
  Refinery will be built at a place where local population won't oppose the project, says Chief Minister Devendra Fadnavis.
arrow RBI to pay Rs 28,000 cr interim dividend to govt; Das to meet bank CEOs
  The dividend transfer will help the Centre meet its revised fiscal deficit target of 3.4% of GDP for FY19
arrow Saudi prince arrives today; India to raise cross-border terrorism issue
  Official sources said Saudi Arabia was no longer accepting Pakistan's narrative on Kashmir and cross border terrorism and that India will forcefully raise the issue of Pakistan's support to terrorists
arrow Govt forms committee for sale of 'enemy shares' worth Rs 3,000 crore
  The 'enemy property' refers to any property belonging to, held or managed on behalf of an enemy, an enemy subject or an enemy firm
arrow GoM favours uniform tax on lottery, GST Council to decide rate on Feb 20
  Currently, a state-organised lottery attracts 12% GST while a state-authorised lottery attracts 28% tax