Floating rate bond coupon determination based on Treasury bill yield average plus auction markup fixes coupon.
Rate of interest on Floating Rate Bonds, 2017 for the half-year Jan 2, 2014 to July 1, 2014 is fixed at 9.33% per annum, calculated as the variable base rate - the average implicit yields of the last six Government of India 364-day Treasury Bill auctions (rounded to two decimals, 8.99%) - plus the auction-determined mark-up of 0.34% set on July 1, 2002.

Foreign investment approvals, deferrals, abeyance and withdrawals recorded; approvals span broadcasting, aviation investment, holding company infusion and logistics merger.
Four foreign investment proposals were approved, covering down linking of non news television channels, downstream investment for aircraft management and charter services, infusion of additional foreign investment into a holding company, and a court approved merger in the logistics sector. Two proposals were deferred: a proposal to increase foreign equity to full ownership in a telecom operator and an application to admit minority foreign equity in an aerospace related automated test equipment manufacturer. One proposal was kept in abeyance for defence ministry review of a helicopter model substitution; withdrawals and a noted downstream investment report were also recorded.

Voluntary Compliance Encouragement Scheme filings facilitated by weekend opening of service tax offices to enable timely submission.
To facilitate declarations under the Voluntary Compliance Encouragement Scheme required by Section 107(1) of the Finance Act, 2013, all offices handling service tax will remain open on the immediately preceding weekend days to enable taxpayers to submit declarations before the statutory deadline.

Standards compliance ensures government-certified silver refining creates authenticated precious-metal provenance for institutional and private users.
A government-operated silver refining plant at the India Government Mint, Hyderabad, provides certified refining using electrolytic refining and an acid process to produce high-purity silver for temples, organizations, and private jewellery; it operates under IS 2113:2002 assaying standards and conforms to a European environmental safety benchmark, creating a government-certified provenance for refined precious metal.

Minimum export price reduction for onions announced to support domestic availability and balance farmers' and consumers' interests.
The Minimum Export Price (MEP) for onions was substantially reduced to discourage exports and support domestic supply and price stability. Secretaries of Commerce, Consumer Affairs and Agriculture, via the Inter-Ministerial Committee on onions, will regularly monitor arrivals, wholesale modal prices and retail rates and will make interventions as needed to ensure adequate domestic availability, stabilize consumer prices and afford price protection to farmers, balancing producers' and consumers' interests.

Welfare scheme for fishermen expanded: enhanced benefits, insurance coverage, housing, training and strengthened savings measures.
The National Scheme of Welfare of Fishermen during the Twelfth Plan is an ongoing central programme with objectives of basic amenities, better living standards, social and economic security. It comprises four components: Group Accident Insurance, development of model fishermen villages, Saving-cum-Relief, and Training and Extension, with targeted annual outputs for housing, savings coverage, insurance enrolment, and training. The scheme specifies a central outlay for the remaining Plan period and enhances assistance rates and compensation for housing, tube wells, community halls, relief payments, and accident insurance, while retaining training stipends and grant support to FISHCOPFED.

Non-plan budgetary support ordered to clear statutory dues and salaries in multiple sick CPSEs to sustain operations.
The Cabinet Committee on Economic Affairs approved non-plan budgetary support to liquidate statutory dues (Provident Fund, Gratuity, Pension, Employees State Insurance and Bonus) and to pay salary and wages for a specified period for eleven sick or loss-making Central Public Sector Enterprises under the Department of Heavy Industry, as interim assistance pending finalisation or implementation of revival, restructuring, closure or disinvestment plans, to prevent operational disruption and to fulfil statutory obligations.

Interest subvention for sugar industry working capital loans to secure cane price payments under central scheme with state guarantees.
The Central Government will fund an interest subvention on additional working capital loans-charged to the Sugar Development Fund-exclusively for effecting cane price payments; undertakings with accounts classified as Non Performing Assets remain eligible if state governments provide guarantees, and subvention covers the prescribed loan tenor including a moratorium but excludes periods of default in principal repayment.

Foreign investment cap increase permitted, subject to preserving the aggregate FII holding limit and related conditions.
Approval was granted for an increase in the permissible foreign investment ceiling from 49 percent to 62 percent, subject to the constraint that aggregate foreign institutional investor holding shall not exceed 49 percent of the bank's paid-up equity capital.

Merger clearance: regulator found no appreciable adverse effect on competition, allowing the cement asset acquisition.
The regulator concluded, after merger control assessment of Ultratech's proposed acquisition of Sewagram and Wanakbori cement assets from Jaypee, that the transaction did not raise concerns of an appreciable adverse effect on competition in India and cleared the combination under the statutory approval route.

Coal Bed Methane exploration allowed in mining leases, enabling degasification, commercial supply, and environmental benefits.
Approval authorizes Coal India Limited to conduct Coal Bed Methane (CBM) exploration and exploitation within its coal mining lease areas, enabling degasification of seams ahead of mining and capture of CBM for commercial supply instead of flaring. The policy aims to mitigate safety hazards, reduce greenhouse gas emissions, generate additional revenue for governments and the mine operator, and permit potential carbon credit earnings through proper CBM utilization.

National dairy and bovine breeding programme consolidates schemes to expand artificial insemination, conserve indigenous breeds, and build dairy infrastructure.
A central programme consolidates existing dairy and bovine-breeding schemes into two components: National Programme for Bovine Breeding, focusing on expansion and monitoring of field artificial insemination, indigenous breed conservation and breeders' associations; and National Programme for Dairy Development, providing financial and technical assistance for grassroots infrastructure, production, procurement, processing, marketing, and farmer training, with an integrated policy-strategy-programme framework to transform breeding into an economic activity.

Floating Rate Bonds interest reset set by average implicit yields from recent treasury bill auctions, determining the coupon rate.
The rate of interest on Floating Rate Bonds, 2020 for the half year December 21, 2013 to June 20, 2014 is 8.92% per annum. The coupon is set at the average of the implicit yields at the cut off prices of the last three auctions of 182 day Treasury Bills up to the period preceding the coupon reset date (December 21), with implicit yields computed on a 365 day basis and the average rounded to two decimal places.

Price Stabilisation Fund reform underway as government formulates a modified scheme to address operational bottlenecks.
Government committees recommended restructuring the Price Stabilisation Fund; a Modified Price Stabilisation Fund (MPSF) is being formulated to address operational bottlenecks and make the scheme more beneficiary-friendly, and the restructured MPSF is under government consideration.

Line of Control trade operates as a zero duty cross LoC mechanism confined to Jammu and Kashmir, not bilateral India Pakistan trade.
The Line of Control (LoC) trade is a distinct administrative cross LoC mechanism implemented as a confidence building measure, permitting eligible items produced on either side to be traded at zero duty between Jammu and Kashmir and Pakistan Occupied Kashmir; this LoC trade is not to be classified as India-Pakistan bilateral trade. The document also reports three years of India-Pakistan trade data with exports, imports and total trade values sourced to DGCIS, Kolkata.

Coherent long-term trade policy needed to align institutions and standards, preserving market access and guiding sustained national interests.
Strengthening institutional capacity is required to formulate a coherent long-term trade policy at federal, State and local levels by identifying relevant variables that affect trade and establishing mechanisms to monitor and input those variables into policy formulation, and to align regulatory standards with international disciplines to preserve market access.

Wholesale Price Index signals higher annual inflation as primary articles, fuels and selected manufactured goods push prices up.
The Wholesale Price Index rose in November 2013 with the annual inflation rate increasing and a higher build up inflation for the financial year; primary articles (notably food and oilseeds), selected manufactured product groups and certain fuels contributed to the month on month rise while other subgroups recorded declines, with detailed subgroup indices provided in annexes.

Advance tax deadline extended for December installment, allowing payment without interest for short deferment due to bank holiday
The due date for the December installment of advance tax has been extended from 15th to 17th December to accommodate bank closures; taxpayers may pay at designated branches of authorized banks or electronically, and payments made by the extended date will not attract consequential interest for the deferment.

Cabinet Committee on Investments streamlines approvals by expediting licensing decisions and does not itself approve investments.
The Cabinet Committee on Investments (CCI), chaired by the Prime Minister, is designed to accelerate time bound decisions on licences, permissions and approvals for project implementation by expediting and coordinating administrative clearances; it does not receive or grant investment approvals itself.

Composite development index directs central development allocations to states by need and performance, with periodic updates and incentives.
A composite development index will rank States by underdevelopment using measures like per capita income and human development indicators to identify least developed States for additional Central support and to channel a portion of development funding based on need and measurable performance, with assigned weightages, periodic updates, performance measurement relative to the prior update, review of the allocation formula after experience, and assessment of States' absorptive capacity to incentivize effective use of funds.