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    News
    All› News and Press Release › News and Press Release - 2019
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    December 31, 2019
    Finance Minister Smt Nirmala Sitharaman releases Report of the Task Force on National Infrastructure Pipeline for 2019-2025
    Show AI Summary
    National Infrastructure Pipeline to coordinate multi-year infrastructure investment and mandate monitoring mechanisms to accelerate project implementation.
    The National Infrastructure Pipeline projects total capital expenditure of about Rs. 102 lakh crore for FY 2019-20 to FY 2024-25, with Energy, Roads, Urban and Railways comprising around 70% of the outlay. The Task Force's compiled pipeline classifies projects as under implementation ( 42%), in conceptualization ( 32%) and in development, and recommends sectoral policy reforms and a monitoring mechanism to ensure timely implementation and coordinated financing.
    December 30, 2019
    NITI Aayog Releases SDG India Index and Dashboard 2019
    Show AI Summary
    SDG India Index tracks state progress on sustainable development goals and ranks performance to guide policy and reveal data gaps.
    The SDG India Index 2019 provides a subnational measurement of progress on 16 SDGs using 100 indicators from the National Indicator Framework, yielding a composite 0-100 score per State/UT that aggregates performance across goals. States/UTs are classified as Aspirant, Performer, Front Runner, or Achiever based on score bands; the Index supports policy dialogue, benchmarking, and evidence-based policymaking via state profiles and an online dashboard, while flagging gaps in data collection, reporting, methodology and needs for data disaggregation and capacity building.
    December 30, 2019
    THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2019
    Show AI Summary
    Insolvency and Bankruptcy Code amendments set creditor thresholds, protect moratorium rights, secure critical supplies, and limit corporate liability after approved plans.
    The Ordinance raises creditor thresholds for initiating corporate insolvency (including specified thresholds for real-estate allottees), advances appointment timing of interim resolution professionals to the insolvency commencement date, protects licenses and critical supplies during the moratorium (subject to payment of current dues), requires the resolution professional to manage operations until plan approval or liquidator appointment, and creates limited cessation of corporate liability and protection of property for offences committed prior to insolvency where an approved plan changes control to an unaffiliated, non-implicated acquirer, while preserving prosecution of responsible officers.
    December 27, 2019
    CCI approves acquisition of shares in My Home Industries by My Home Constructions and its affiliates
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    Acquisition approval: approval granted for acquisition of shareholding in My Home Industries by My Home Constructions.
    CCI approves a combination in which My Home Constructions and its affiliates acquire fifty percent of the shareholding in My Home Industries, a joint venture between CRH India Investments B.V. and the Acquirers. My Home Industries manufactures and supplies grey cement under the "Maha Cement" brand and undertakes captive power generation from waste heat and solar sources, with operations across several Indian states and union territories. The Commission's detailed order will follow.
    December 27, 2019
    Three Technology Development Projects Inaugurated
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    Centres of Excellence expand technology development, scaling a competitiveness scheme to boost indigenous capital goods capabilities.
    The Department of Heavy Industry inaugurated multiple technology development projects and expanded a competitiveness scheme for the capital goods sector by establishing Centres of Excellence, Integrated Industrial Infrastructure, Common Engineering Facility Centres, Testing and Certification Centres, and a Technology Acquisition Fund Programme to fund institutional R&D and industry partnerships developing indigenous technologies and shared facilities to strengthen domestic manufacturing capabilities.
    December 26, 2019
    Reforms by boiler division for EoDB
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    Self-certification and third-party inspection of boilers enabled to simplify compliance while maintaining safety standards.
    Departmental reforms authorize self-certification and third-party inspection and certification of boilers to streamline administration of the Boilers Act, 1923 and promote Ease of Doing Business. Specimen notifications under section 34(3) have been provided to State Governments to enable these measures while maintaining safety standards. Implementation mechanisms include recognition of third-party inspecting authorities, authorization of independent competent persons for in-service inspection under section 8, decentralized inspection during manufacture and use, and online registration with prescribed time limits for approvals.
    December 24, 2019
    NITI Aayog to Launch SDG India Index & Dashboard 2019–20
    Show AI Summary
    SDG monitoring at the sub national level: new Index ranks and diagnoses state progress to inform policy prioritisation.
    The summary announces NITI Aayog's SDG India Index and Dashboard 2019-20 as a sub national monitoring tool developed with MoSPI, the UN in India, and the Global Green Growth Institute to measure and rank States and Union Territories on progress toward the 2030 Sustainable Development Goals. NITI Aayog's mandate to oversee SDG adoption and monitoring is linked to the Index, which uses a targeted set of indicators from MoSPI's National Indicator Framework, expands goal coverage from the prior edition, and combines quantitative rankings with a qualitative assessment of implementation architecture.
    December 24, 2019
    Cabinet approves Promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019
    Show AI Summary
    Cessation of corporate liability when a resolution plan effects a genuine change in management, subject to investigative cooperation.
    The ordinance amends the insolvency framework so that a corporate debtor's liability for offences committed before the insolvency process ceases and prosecution shall not continue from approval of a resolution plan that effects a change in management or control to persons who are neither promoters/related parties nor persons against whom investigating authorities have material and have filed a report; the corporate debtor must nonetheless assist investigating authorities, and the amendment was approved to remove ambiguities and smooth implementation.
    December 24, 2019
    GeM Samvaad takes off in Four States
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    Public procurement outreach drives seller onboarding and feedback-led enhancements to the national government e-marketplace platform.
    A national outreach initiative for the government e-marketplace was launched to facilitate onboarding of local sellers, to raise awareness of portal features, and to collect stakeholder input under a Voice of Customer mechanism. Senior GeM officers engage with buyers and sellers while State Governments arrange logistics; the programme is staged across States and Union Territories with the operational aim of using user feedback to inform portal improvements and broaden participation by State Departments, Public Sector Enterprises and MSMEs.
    December 21, 2019
    Innovation & Infrastucture will help India to become USD 5 trillion economy: Piyush Goyal
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    Regulatory reform: government seeks industry feedback to remove impediments and foster innovation and investment growth.
    The Government will act as a facilitator and enabler for industry by soliciting continuous industry feedback to identify and remove regulatory, non regulatory and judicial impediments, addressing harassment by central and state functionaries, and prioritizing reform actions. Industry-government dialogue is urged to streamline compliance and approvals.
    December 21, 2019
    Repayment of 8.19% GS 2020
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    Government securities repayment requires bank mandate or tendering discharged securities at paying offices before maturity date.
    Repayment of the Government Security scheduled for January 2020 requires payment to registered holders on the effective repayment date with interest ceasing from the scheduled date; if a state holiday under the Negotiable Instruments Act falls on that date, repayment is made on the previous working day. Payment will be by pay order or electronic credit to the holder's bank account per Government Securities Regulations, 2007, and holders must furnish bank account particulars in advance or tender duly discharged securities at paying offices up to twenty days before repayment.
    December 20, 2019
    Chairman 15th Finance Commission holds meeting with the CM Andhra Pradesh
    Show AI Summary
    Fiscal support requests: State seeks revenue deficit relief and debt relief; Commission to examine and continue dialogue.
    The State highlighted revenue shortfalls and obligations under the State Reorganisation Act, requested recognition of Special Category status and expedited release of pending central dues, and sought substantial revenue deficit grant assistance, increased borrowing limits and waiver or restructuring of legacy loan liabilities; the Finance Commission chair agreed to examine the representations, advised prioritising revenue-generating investments and committed to continued dialogue for the Commission's forthcoming recommendations.
    December 20, 2019
    Chairman 15th Finance Commission holds meeting with the CM Andhra Pradesh
    Show AI Summary
    Special Category status demand to secure fiscal support and pending dues for post bifurcation state finances.
    The Chair of the Fifteenth Finance Commission met the Andhra Pradesh Chief Minister to consider the State's fiscal challenges post bifurcation and requests for central support, including Special Category status, release of pending dues, a revenue deficit grant, increased borrowing limits and relief of past NSSF liabilities; the Chair undertook to examine the matters and continue dialogue while urging prioritised investment to secure future revenue.
    December 20, 2019
    Afghanistan first country to recognize Indian Pharmacopoeia
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    Recognition of Indian Pharmacopoeia: Afghanistan adopts IP standards for medicines quality and laboratory testing, enabling official use.
    Afghanistan has formally recognized the Indian Pharmacopoeia as a reputable standard for laboratory testing of medicines and health products, enabling the IP to be used as an accepted reference for assessing identity, purity and strength. The IP, designated under the Drugs and Cosmetics Act, provides authoritative standards and IP Reference Substances developed by the Indian Pharmacopoeia Commission to support regulatory quality control, implementation and enforcement for medicines.
    December 20, 2019
    EChO Network launched to catalyze cross-disciplinary leadership in India; will train educators and students in interdisciplinary manner
    Show AI Summary
    Interdisciplinary leadership: new national network to train educators and researchers for ecology, environment, and applied problems.
    EChO Network was launched to build cross-disciplinary leadership in Indian ecology and the environment by training educators, students, and postdoctoral leaders to address real-world problems in medicine, agriculture, ecology, and technology. It will identify knowledge gaps through stakeholder engagement, integrate public and private efforts into a national network, provide research and outreach training, promote nationwide awareness and education at all levels, and develop an international distributed institute combining expertise from industry, government, private, and academic sectors.
    December 18, 2019
    DISPOSAL MANUAL - 2019
    Show AI Summary
    Disposal Manual 2019 updates procedures for disposal of seized, confiscated and unclaimed goods, including e auction and valuation rules.
    Consolidated operational procedures for disposal of seized, confiscated, unclaimed/uncleared goods and time expired bonded goods: seven category classification with priority timelines; mandatory inventories, sealing, photographic records and secure storage; transfer of charge, stock taking and inspection protocols; valuation by a Joint Pricing Committee; and disposal modes including e auction, auction/tender and destruction, with processes for unclaimed cargo (Section 48), time expired bonds (Section 72) and apportionment of sale proceeds (Section 150).
    December 17, 2019
    GEM launches National Outreach Programme - GEM Samvaad
    Show AI Summary
    Public procurement outreach expands onboarding of local sellers to a national e-procurement marketplace, enhancing access and feedback mechanisms.
    A national outreach programme, GeM Samvaad, has been launched to facilitate onboarding of local sellers onto the Government e Marketplace (GeM) and to solicit user feedback for portal improvements. The outreach will cover all States and UTs, align seller capabilities with government buyer needs, broaden access for local suppliers including MSMEs, and collect feedback to guide functional enhancements on the GeM portal.
    December 16, 2019
    Fifth meeting of the Economic Advisory Council of the Fifteenth Finance Commission held today
    Show AI Summary
    Fiscal Responsibility focus as commission mandate extended and tasked with reports on macro, tax, GST, and fiscal transparency.
    The meeting recorded extension of the Commission's mandate via additional terms of reference requiring a one year and a multi year report; discussions centered on framing macroeconomic assumptions for the award period and on Union and State revenue and expenditure patterns, with focus on tax revenue mobilization, GST stabilization and compensation, and compliance with Fiscal Responsibility Legislations to strengthen fiscal transparency.
    December 13, 2019
    Predatory Pricing by e-COMMERCE Companies
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    Predatory pricing allegations against e commerce marketplaces risk competition scrutiny and enforcement proceedings.
    Allegations assert that e commerce marketplaces engaged in predatory pricing and discriminatory vendor treatment in breach of FDI e commerce guidelines requiring that marketplaces not influence sale prices and that services to vendors be provided at arm's length and in a fair, non discriminatory manner; platforms deny such control and contend discounts originate from sellers. These complaints implicate competition law's prohibition on unfair or discriminatory pricing by dominant enterprises and the Competition Commission's enforcement role.
    December 13, 2019
    CCI approves acquisition of shares in SBI General Insurance by Honey Wheat
    Show AI Summary
    Merger control: approval of a minority share acquisition in a general insurer under competition law with conditions pending order.
    The Competition Commission of India approved Honey Wheat Investment Limited's acquisition of a minority equity stake in SBI General Insurance, treating it as a notifiable combination under the merger control regime. The notification identifies Honey Wheat as an investor within a global investment group and SBI General Insurance as a provider of diverse general insurance products in India. A detailed CCI order setting out any conditions or further findings will follow.

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      News and Press Release

      Cabinet approves Promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019

      December 24, 2019

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      The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved a proposal to promulgate an Ordinance to amend the Insolvency and Bankruptcy Code, 2016.

      The Amendment will remove certain ambiguities in the Insolvency and Bankruptcy Code, 2016 and ensure smooth implementation of the Code.

      Under the Amendments, the liability of a corporate debtor for an offence committed prior to the commencement of the corporate insolvency resolution process shall cease, and the corporate debtor shall not be prosecuted for such an offence from the date the resolution plan has been approved by the Adjudicating Authority, if the resolution plan results in the change in the management or control of the corporate debtor to a person who was not:

      1. A promoter or in the management or control of the corporate debtor or a related party of such a person; or
      2. A person with regard to whom the relevant investigating authority has, on the basis of material in its possession, reason to believe that he had abetted or conspired for the commission of the offence, and has submitted or filed a report or a complaint to the relevant statutory authority or Court.

      Subject to relevant provisions the corporate debtor shall, as required, extend all assistance and co-operation to any authority investigating an offence committed prior to the commencement of the corporate insolvency resolution process.

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