The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
Food Corporation of India will be the nodal agency.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
The proposal will now be considered by the Cabinet Committee on Economic Affairs.
To sell five Boeing 777s, replacing these with cheaper aircraft
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
Private lenders were among the top losers along with RIL.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
Sir Graham Brady, who is in-charge of collating the letters of no-confidence received by the 1922 Committee, said the threshold of 15 per cent of the Tory parliamentary party, or 54 MPs, seeking such a vote has been met and it will place on Monday evening in the House of Commons.
The Cabinet Committee on Parliamentary Affairs took the decision to extend the session till September 6 at a meeting held in Parliament House.
RIL may go to arbitration which may lead to further delay in production and extra cost associated with the arbitration.
Bullet trains are run by state-owned agencies in France and Germany.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
It appears the row over the article penned by senior Bharatiya Janata Party leader Yashwant Sinha refuses to die down.
Thailand, Indonesia want unconditional access to India's multi-brand retail space.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
The government has given up plans to reconvene a parliament session to secure approval for a common goods and services tax.
Etihad earns about 23 per cent of its passenger revenue from code-share and equity partners, and this would increase after its tie-up with Jet.
'Modi personally provides the higher direction of the ministry and the minister then works with bureaucrats on implementation,' points out Aakar Patel.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before next general election.
From Swachh Bharat to spearheading the Make in India campaign, the PMO seems to be at the centre of all policies, writes Nivedita Mookerji.
The railways ministry has a capex target of Rs 1 lakh crore for the financial year.
He is at present secretary (economic relations) in the Ministry of External Affairs.
Special Judge O P Saini took strong objection to the agencies seeking repeated adjournments.
'National assets, created over the years through tax-payers's money, should not be handed over to business houses at throwaway prices.'
Known to be having extensive expertise in dealing with India's neighbourhood as well as the US, China and Europe, the 1988-batch Indian Foreign Service (IFS) officer pipped nearly half-a-dozen others in the race for the coveted post including Indian High Commissioner to UK Gaitri Issar Kumar (1986-batch IFS) and Ruchira Kamboj (1987 batch IFS).
'Obviously, MSP hike raises chances of a reduction in exports. Even without an MSP hike, India's exports of a number of agri-commodities, like sugar, were unviable in the overseas markets.'
Sunak, 42, has consistently topped the shortlist since voting began last week and on Monday he bagged 115 votes in the third round, which leaves only four candidates in the race.
Naidu 'disturbed' by media reports that Opposition parties will now be more emboldened to unite and stall the government's Parliamentary agenda for the Winter Session.
Modi has appointed P K Sinha, who superannuated as cabinet secretary on Friday, as Officer on Special Duty (OSD) in the Prime Minister's Office (PMO), he said.
The government's disinvestment programme is set to get a boost this Diwali, with the finance ministry planning to hit the market to sell a five per cent stake in Steel Authority of India Ltd (SAIL) by October.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
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