Tag Archives: government

Rajasthan HC restricts OBC quota bill’s implementation

JAIPUR: The Rajasthan high court on Thursday restricted the state government from implementing the OBC Reservation Bill 2017, which hikes the quota given to Other Backward Classes from 21% to Continue reading

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Speed up the cases of politicians, says SC

NEWDELHI: The Supreme Court on Wednesday gave the Centre six weeks to come up with a scheme for setting up special courts for speedy trial of lawmakers  or politicians facing criminal charges, saying “this is in the interest of the nation”.

The court also sought the status of the 1,581 criminal cases mentioned in poll affidavits by the candidates in 2014, when elections were held for the Lok Sabha and eight state assemblies.

“In the interest of the nation, trials in such cases must end within a year,” a bench led by justice Ranjan Gogoi said, asking the Centre to specify the money it would set aside for such courts.

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China plans a 1,000-km tunnel to divert water of river Brahmaputra

BEIJING: Top scientists backed by the ruling Communist Party of China are working on a plan to drain the Yarlung Tsangpo (Brahmaputra) river near the Indian border and divert the water through a 1,000-km tunnel, the world’s longest, to arid Xinjiang.

The Tsangpo flows into India through Arunachal Pradesh as the Siang before becoming the Brahmaputra in Assam — the source livelihood for millions in the country’s northeast.

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RBI and IRDAI object to new bankruptcy bill

NEW DELHI: The Reserve Bank of India and the country’s top insurance regulator, Insurance Regulatory and Development Authority, have objected to a draft law on bankruptcy in financial institutions, saying some of its provisions undermine their authority.

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SC may modify the order National anthem in Cinema Halls

The Supreme Court on Monday asked the Centre to consider amending the national flag code for regulating the playing of national anthem in cinema halls across the country.

A bench including Chief Justice Dipak Misra and others said the Centre has to take a call uninfluenced by its earlier order on the playing of national anthem in the theatres. Continue reading

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You might get opportunity to deposit banned notes

New Delhi : The Supreme Court asked the Centre and the Reserve Bank of India (RBI) on Tuesday to come up with a policy to offer a window to people who could not deposit their demonetised notes for legitimate reasons before last year’s December 30 deadline.

“What if someone is ill and could not deposit the money. If someone has a genuine reason, you cannot deny him the opportunity to deposit the money. You cannot be allowed to deprive a person of his money,” a bench headed by Chief Justice JS Khehar told solicitor general Ranjit Kumar. Continue reading

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Centre will not fund farm loan waivers, says Jaitley

farmer

NEWDELHI: Union finance minister Arun Jaitley hinted on Monday that the central government will not help with money for farm loan waivers, underscoring a major economic challenge for Maharashtra, which promised to write off loans equal to nearly 80% of its fiscal deficit, and for at least four other states facing similar demands.

Maharashtra, Madhya Pradesh, Haryana, Rajasthan and Punjab have witnessed growing resentment in the agriculture sector where stagnant incomes have left millions with piling debt. The crisis has triggered violent protests recently, with a debt write-off a central demand in all the regions.

Protests in Madhya Pradesh left five people dead last week and cultivators in Maharashtra held a more than a week-long agitation that ended on Sunday only after the government agreed to waive off loans for 1.34 crore farmers.

There have also been rumblings in Haryana, Rajasthan and Punjab, weeks after Uttar Pradesh’s new government wrote off ₹35,500 crore in loans to small farmers.

“States which want to go for these kind of schemes, will have to generate them from their own resources. Beyond that as the central government, I have nothing to say,” Jaitley said.

An HT analysis shows that if the governments agree to waive off loans, most states will almost double their fiscal deficit and be left with practically no money for welfare projects (see box).

“The waiver will translate into a cut in development spending by 30%”, said a Maharashtra finance department official.

Officials in UP say the loan waiver has led to pruning of allocations of all departments as the Centre was not willing to share the burden.

In almost all major agrarian states, the loans of small farmers are close to 80% of the fiscal deficit last year.

The last big farm debt waiver came in 2009, when the UPA government waived ₹72,000 crore before the general election.

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