Cabinet reshuffle highlights govt priorities ahead of 2019 Lok Sabha elections
The contours and composition of the third cabinet reshuffle and expansion by Prime Minister Narendra Modi unmistakably reflects the immediate priorities of the National Democratic Alliance (NDA) as it approaches the run-up to the 2019 Lok Sabha elections. And they are reviving economic growth, creating jobs, kickstarting private sector investment, rebooting the farm economy, closing infrastructure projects and ensuring the country’s borders are safe—especially from aggressive neighbours like China.
Nirmala Sitharaman 2nd woman defence minister after Indira Gandhi
Thirty-five years since India’s defence ministry last saw a woman at its helm, there is another: Nirmala Sitharaman. Until now, the only woman to head India’ defence ministry was Indira Gandhi: first in 1975 and again in 1980-82. Madurai-born Sitharaman, who was earlier minister of state for commerce, has a masters in economics from Jawaharlal Nehru University, New Delhi and has worked for PwC, London and briefly with BBC World Service. She joined the Bharatiya Janata Party (BJP) in 2008, and was made a member of the national executive and was nominated as party spokesperson in 2010.
Coal India quashes privatisation rumours, says no coal shortage
India is not facing any scarcity of coal and the output of Coal India Ltd is more than the country’s power demand, the state-owned firm’s interim CMD Gopal Singh said on Sunday. Singh said Coal India registered a high growth rate of 28% output in 2016-17 over 2015-16, while the average rise in power demand in the country was at 10.3%.
Why IPL rights owners will take time to cash in on the spoils
The suspense over Board of Cricket Control for India’s tender for media and digital rights is set to end soon. Both television and digital rights are up for grabs for the Indian sub-continent and media rights for Rest of the World. BCCI’s CEO, Rahul Johri, has gone on record estimating the rights will fetch in excess of Rs 18,000 crore. Going by the past BCCI estimates, this represents a 400 per cent increase! That is indeed a very very steep rise.
Self-regulation model likely for gold exchange
Spot gold exchanges, which were proposed nearly two years ago, could soon become a reality as the government plans to allow the self-regulation model. The government is likely to come out with basic rules for spot gold exchanges by early November, according to sources close to the development. Discussions on the issue are already underway, and a standing committee consisting of all stakeholders and government officials is deliberating on it, the sources said. The regulation of these exchanges was an unresolved issue, as spot trading is a state subject. Besides, gold has a currency aspect and is also an industrial input and investment instrument.
Government notifies hike in GST cess on mid, large cars to 25 PCT
The government has notified hike in GST cess on a range of cars from mid-size to hybrid variant to luxury ones to a maximum of 25 per cent, from earlier 15 per cent. Following assent by President Ram Nath Kovind, the government has notified the Goods and Services Tax (Compensation to States) Amendment Ordinance, 2017. The Ordinance was last week approved by the Union Cabinet, headed by Prime Minister Narendra Modi, and was sent to the President for his approval.
Xiamen BRICS Summit: Airport welcome ceremony for PM Narendra Modi cancelled after heavy rainfall
A scheduled airport welcoming ceremony in Xiamen for Prime Minister Narendra Mod iwas cancelled on Sunday due to the bad weather. “The aircraft carrying Indian PM arrived in Xiamen on Sept 3. A scheduled airport welcoming ceremony was cancelled due to heavy rainfall,” People’s Daily China tweeted. The Chinese explanation came to dispel the impression of a snub. Prime Minister Modi is in China to attend Brazil, Russia, India, China and South Africa (BRICS) summit. “We are really excited to meet him. He is a PM who made India popular in the whole world. We are proud that we have a Prime Minister like him,” said an Indian man. “We are really happy that we meet him. It is like a life-time achievement for us,” said another delighted Indian woman.
As RBI Governor, I was never asked to decide on demonetisation, says Raghuram Rajan
Former Reserve Bank of India (RBI) Governor Raghuram Rajan had cautioned the government that the long-term benefits of demonetisation would be outweighed by the short-term economic costs and that there were potentially better alternatives to achieve the main goals. In the introduction of his new book —” I do what I do” — Rajan writes, “At no point in my term was the RBI asked to make a decision on demonetisation,” adding that the central bank had prepared a note outlining the potential costs and benefits. He said he offered his views to the government orally in February 2016.
Apple, Samsung gear up for high-end smartphone battle this Diwali
For consumers there is a lot to look forward to in the premium smartphone segment with both Apple and Samsung planning to launch their respective phones in India, ahead of the upcoming festive season. Apple is likely to launch the iPhone 8 in the US on September 12, and the buzz is that India could be in the first wave of countries to get the smartphone given that Diwali is just around the corner.
800 engineering colleges to close over low quality, admissions
The All India Council for Technical Education (AICTE) wants to close down about 800 engineering colleges across India as there are no takers for their seats, and admissions are plunging in these institutions every year, AIC TE chairman Anil Dattatraya Sahasrabudhe told TOI. There are approximately 150 colleges which are closed down voluntarily every year due to stricter AICTE rules. According to a rule of the council, colleges that lack proper infrastructure and report less than 30% admissions for five consecutive years will have to be shut down, he pointed out.
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