Finance Minister announced the approval of the scholarship scheme for students of minority communities. The scheme will be effective during 11th Five Year Plan.
In a move that could raise the hackles of neighbouring Pakistan and China, India will soon raise two new division-sized army formations to give more teeth to its mountain warfare machinery.The Defence Ministry's proposal for raising of the two mountain divisions was approved recently by the Cabinet Committee on Security, ministry sources said.The proposed mountain divisions will further enhance the tactical strength of the Indian army in its strategically important areas.
In a bid to encourage the fertiliser industry to increase its production volumes, the government has extended the system of actual freight reimbursement to all types of fertilisers. Currently, only urea enjoys this concession.
Central government employees and pensioners will get an additional 6 per cent dearness allowance from next month, putting a burden of over Rs 6,000 crore (Rs 60 billion) on the exchequer.
Retail, telecom, media and a host of sectors in which foreign direct investment is restricted stand to gain from changes in FDI policy that the Cabinet Committee on Economic Affairs cleared on Wednesday linking approvals to the concept of control for the first time.
"The prime minister asked the ministers to stay alert on the global financial situation," Rural Development Minister Raghuvansh Prasad Singh told reporters after a meeting of the Cabinet Committee on Economic Affairs.
For the second time in as many months, the Government on Wednesday night cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre, while the domestic LPG rate was also slashed by as much as Rs 25 per cylinder.
The BJP's faces for 2019 will be Dharmendra Pradhan, Piyush Goyal, Nirmala Sitharaman, Yogi Adityanath and Devendra Fadnavis, says R Rajagopalan.
The 'AH-64-E' choppers are known as one of the most advanced multi-role combat helicopters.
The Union Cabinet on Thursday approved the implementation of the national policy on biofuels.
In order to provide greater leeway to central government departments and ministries to finalise centrally-funded projects, the Department of Expenditure under the finance ministry has increased the financial limits of projects requiring approval from various cost-approving bodies.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
The clearance to raise the 10,000-strong Combat Battalion for Resolute Action (COBRA), under the command and control of the Central Reserve Police Force, was given last evening by the Cabinet Committee on Security chaired by the prime minister.
According to sources, the Department of Industrial Policy and Promotion and Ministry of IT have supported the reserve price of Rs 2,020 crore (Rs 20.2 billion) as was originally recommended by DoT. Last week, the finance ministry had asked the DoT to double the reserve price for pan-India 3G spectrum.
'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.'
Pepsico India Holding need not divest 49 per cent equity in bottling firms to Indian companies, with the government today exempting it from the obligation following change in FDI rules for the food processing sector.
Aiming at bolstering the sagging economy as well as providing housing to all, the urban poor will get 5 per cent interest subsidy for home loans up to Rs 100,000, taken during the Eleventh Plan period.
While the government expects the new urea policy to bring more investment, the fertiliser industry is less than enthused. New capacities to make urea, industry representatives say, will come up only if adequate fuel and timely payment of subsidy dues is ensured.
Announcing this in New Delhi, Civil Aviation Minister Praful Patel said trial runs on the new third runway of IGI Airport would begin in ten days from now. Once operational, it would go a long way to ease the air traffic congestion over the Delhi airspace. The two airports, as per the recommendations of the respective state governments, would be developed by the state-owned AAI and not privatised.
The government has cleared the indigenous construction of seven stealth frigates and six nuclear-powered submarines to bolster naval power.
The introduction of 10 per cent mandatory blending of ethanol with petrol is unlikely to happen from this October, as decided by the Cabinet Committee on Economic Affairs in October 2007.
"As FM, I granted approval in the normal course of business," he said in a statement.
A meeting of the Cabinet Committee on Economic Affairs was specially convened this morning to consider OVL's Imperial bid, as Tuesday is the last date for making the offer to the target company's shareholders. Prime Minister Manmohan Singh chaired the meeting that had just one agenda and lasted one-and-half hours, but no official word was available.
The decision comes after Australian mining major BHP Billiton said it would not improve the terms of its bid. BHP Billiton, the largest mining company in the world, and new entrant GVK Oil and Gas were the sole bidders for five deepwater blocks and hence the provisional winners after the bidding closed on June 30 this year.
Announcing the decision after the meeting of the Cabinet Committee on Economic Affairs, Finance Minister P Chiadambaram said this is an ad-hoc measure and the recommendation of Commission for Agricultural Costs and Prices has been referred to the Prime Minister's Economic Advisory Council. The CACP had recommended the paddy MSP at Rs 1,000 per quintal for 2008-09 Kharif season.
With shrinking employment opportunities in the state sector, the government on Thursday approved a Rs 1,800 crore (Rs 18 billion) scheme for incentivising private sector to employ 1,00,000 disabled people a year.
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
It is a 'cause for security concern' to India, Naval Chief Admiral Sureesh Mehta told media persons in New Delhi when asked about the revelations by satellite pictures that China had amassed five nuclear submarines carrying long range missiles. Defence Minister A K Antony sought to be evasive on the subject, saying the country's armed forces are capable of taking 'full care of our security interests' whether it is sea lanes or land borders.
The Cabinet Committee for Economic Affairs is expected to meet on Wednesday evening to take this decision, given the cheap crude prices in the global market. The government had last cut petrol prices on December by Rs 5, and diesel rates by Rs 2 a litre.
The government has enhanced the emoluments of the President, the Vice President and governors to Rs 1.5 lakh, Rs 1.25 lakh and Rs 1.10 lakh respectively. The Cabinet secretary and defence chiefs too have been given substantial increments.
The extent of the government's concern about inflation was evident at the meeting of the Cabinet Committee on Prices, which started at 8 pm on Monday and went on past 12 midnight. Commerce Minister Kamal Nath challenged Agriculture Minister Sharad Pawar to explain why wheat import this season had been delayed.
Ahead of the crucial meeting of the Cabinet Committee on Prices for considering options to tame rising inflation, Commerce and Industry Minister Kamal Nath said on Monday the government is looking at further cuts in duties on import of essential commodities. "Yes, we are looking at further cuts. There is increase in international oil prices and it has to be met with import duty caliberation which we are considering," Nath told reporters in New Delhi.
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.
Both houses of Parliament were prorogued on Friday, almost a month after being adjourned sine die, ending the possibility of an extension of the Monsoon session in the face of continued stand-off between government and opposition.
The monsoon session of Parliament is likely to be convened around the second week of September, at the time when the India-United States nuclear agreement is expected to go through all the processes including the final voting by the American Congress.The Cabinet Committee on Parliamentary Affairs is expected to take a decision on the matter next week, amid indications from the government as also the Congress that there is no hurry to convene the session.
India' can't succeed unless it is made easier for people to do business.
The Centre has been divided over the stand to be taken by it on the issue. The Culture Ministry wanted to be cautious on the issue by saying that no study has been conducted on whether the Ram Sethu between India and Sri Lanka was man-made or natural. The Shipping Ministry, however, wanted to state clearly in the affidavit that the bridge had been formed naturally.
The allotment is expected to attract investments of $1.5 billion, around 57 per cent less than the $3.5 billion commitment for the 52 blocks awarded under the previous auction. ONGC and its partners bagged the maximum number of 20 blocks in the seventh round, which closed on June 30. Australian mining major BHP Billiton and its partner GVK Power, bidding for the first time, won seven deepwater blocks.
The BrahMos systems for the two ships are estimated to cost Rs 25 billion, making it the world's most expensive anti-ship missile.
The government on Thursday decided to continue the ban imposed on Students' Islamic Movement of India (SIMI) for its alleged links with certain Pakistan-based terrorist outfits.
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