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    Financial business main agenda for next week of Budget session of Parliament
    Memorandum of Understanding between Insurance Regulatory and Development Authority of India and the Insurance Authority, United Arab Emirates
    Recommendations of Kelkar committee on Public Private Partnership
    NITI Aayog to launch Urban Management Program for Capacity Building in States and Urban Local Bodies
    Extension of date for filing of ST3 returns
    Medak NIMZ
    India – Saudi Arabia Agreement
    Amendment to Provident Fund Act
    The Central Government constitutes a sub-committee of the High Level Committee under Dr. Ashok Lahiri, to interact with the trade and industry on the ...
    NITI Aayog holds regional consultation meeting of the Task Force on Elimination of Poverty in India in Jaipur
    Words Matter but so Does Intent (Dr. Raghuram Rajan, Governor - April 20, 2016 - at the 12th NIBM Convocation, Pune)
    Text of the Union Finance Minister Shri Arun Jaitley’s Speech at the Development Committee of the World Bank in Washington D.C.
    Text of the Union Finance Minister Shri Arun Jaitley’s Speech at the IMFC Plenary Session in Washington D.C.
    "This is the right time to come to India via sea route" - PM Prime Minister Narendra Modi inaugurates Maritime India Summit in Mumbai; asserts govern...
    FM: Amid weaker outlook across the globe, India’s experience of strong economic growth, comfortable price situation, low current account deficit, an...
    Interest rates for NSSF loan to Centre and States for FY 2016-17 revised and fixed at 8.8% in place of 9.5%.
    Repayment of Government of India Floating Rate Bonds (FRB) 2016
    Finance Minister: Asks the States to follow the path of fiscal discipline; Addresses the 2nd Conference of State Finance Secretaries; asked the States...
    Finance Minister to leave for United States tomorrow on a 7-Day Official Visit; to attend Spring Meetings of World Bank and IMF; To participate in Ins...
    Centre releases ₹ 12, 230 Crore to States for MGNREGA
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    April 30, 2016
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    Appropriation and Finance Bill scheduled for consideration and passage, alongside completion of Demands for Grants and ministry reviews.
    Parliamentary business prioritises completion of Demands for Grants and consideration and passage of the Appropriation (No.2) Bill and the Finance Bill, with the Lok Sabha resuming and concluding debates on specified ministry Demands for Grants before guillotine and taking up the Compensatory Afforestation Fund Bill; the Rajya Sabha will review the working of several ministries, consider and return the Appropriation (Railways) No.2 Bill and take up amendment Bills transmitted from the Lower House.
    April 28, 2016
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    Cross-border insurance supervision cooperation enables exchange of confidential regulatory and supervisory information to enforce compliance.
    A bilateral Memorandum of Understanding creates a framework for regulatory collaboration between the Insurance Regulatory and Development Authority of India and the Insurance Authority of the United Arab Emirates, providing channels of communication and authorising the exchange of regulatory and relevant supervisory information, including confidential information, to support enforcement and ensure compliance with their respective laws and regulations.
    April 27, 2016
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    Public Private Partnership recommendations reviewed; implementation steps urged for governments, financiers and private sector, with ongoing actions.
    Review of Public Private Partnership restructuring focuses on implementing the Kelkar Committee's recommendations. The Government has examined the Committee report, which sets out measures for Central and State Governments, financial institutions and the private sector, and notes that some recommended actions are ongoing.
    April 26, 2016
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    Urban capacity building to strengthen ULB governance, service delivery and sustainable infrastructure through training and partnership.
    NITI Aayog, with Singapore Cooperation Enterprise and Temasek Foundation, is launching an Urban Management Programme to build capacity of State Governments and Urban Local Bodies for the Urban Rejuvenation Mission, delivering training on Urban Planning & Governance, water, wastewater and solid waste management, and public private partnership approaches, with interactive workshops aimed at developing Strategic Baseline Frameworks and strengthening governance, financing and operational capacities of state and local urban institutions.
    April 26, 2016
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    Extension of ST-3 filing deadline: taxpayers allowed to file by the new date due to ACES application difficulties.
    Extension of filing date for ST-3 returns: the Central Government extended the filing deadline from 25.04.2016 to 29.04.2016 by Order 1/2016 - Service Tax dated 25.04.2016, citing difficulties faced by taxpayers in the ACES application and thereby deferring the filing cutoff for the specified returns.
    April 25, 2016
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    National Investment and Manufacturing Zone approval formalizes project development with DPR-led investment and employment planning.
    Final approval was granted for the National Investment and Manufacturing Zone (NIMZ) in Medak based on a Detailed Project Report submitted by the State, which specifies anticipated manufacturing investment and projected direct and indirect employment; land assembly has progressed with a portion of the earmarked acreage acquired by the State industrial agency to facilitate development.
    April 25, 2016
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    Investment promotion cooperation enables cross-border private-sector investment and investor facilitation through national investment agencies.
    A framework agreement for Investment Promotion Cooperation establishes bilateral cooperation between national investment promotion agencies to prioritise sectoral investment (including infrastructure, energy, manufacturing, ICT, chemicals, healthcare, logistics and tourism) and to provide investor hand holding. The agreement tasks the domestic investment promotion agency with providing facilitation services to prospective foreign investors to promote private sector cross border investment through agency level implementation and sectoral outreach.
    April 25, 2016
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    EPF coverage threshold: proposal to lower the minimum employee requirement under government consideration, per ministerial statement.
    Proposal to amend the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 would lower the statutory coverage threshold for applicability, reducing the minimum employee count required for mandatory EPF coverage and thereby extending the Act's scope to smaller establishments; this amendment is under government consideration as stated by the Minister of State for Labour and Employment in a written reply.
    April 23, 2016
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    Central Excise Duty on jewellery: sub committee formed to design compliance procedures and consult industry stakeholders.
    The Central Government constituted a Sub Committee of the High Level Committee under Dr. Ashok Lahiri to engage with trade and industry on the imposition of Central Excise Duty on jewellery. The Sub Committee, comprising government officials, a legal expert and forthcoming trade representatives, is tasked to consider compliance procedure for excise duty, records to be maintained, operating procedures and other relevant operational issues. Associations may submit written representations and national associations may present in person; communications are to be sent to the High Level Committee at the stated email or postal address.
    April 22, 2016
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    Poverty measurement: consensus to use poverty line for tracking progress, not for beneficiary identification, and focus on employment.
    The Task Force assembled inputs from State Task Forces and experts to prepare a national roadmap, focusing on four themes: poverty measurement and beneficiary identification including SECC-2011 data and tracking progress; employment-intensive growth to expand jobs; improving anti-poverty program effectiveness via technology and the JAM trinity; and identifying state innovations for replication. States agreed that the poverty line should track progress, not determine beneficiary eligibility, and urged measures such as a common MIS for rural schemes, attention to education quality, and watershed and water availability interventions.
    April 20, 2016
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    Language and intent shape public discourse; speakers must be careful and listeners should assess context before alleging offence.
    Public speech must be evaluated by both words and intent: speakers should avoid gratuitous offence and apologise when they hurt others, while listeners and media must place utterances in context and assess intent rather than seizing headlines. Historic idioms and common phrases can carry discriminatory connotations and perpetuate stereotypes; sensitivity is needed because literal readings can entrench bias. Balancing rhetorical force and caution is necessary to maintain respectful public dialogue and prevent divisiveness.
    April 18, 2016
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    Shareholding reforms: rebalancing partnership toward developing countries to align capital shares and voting influence.
    The speech urges expanded concessional financing-including a financial intermediary fund like the Crisis Response Window-and increased annual World Bank Group lending, supported by timely General Capital Increase and substantial Selective Capital Increase at IBRD and IFC to reflect the rising economic weight of Developing & Transition Countries. It demands adherence to Istanbul principles to rebalance shareholding toward DTCs with GDP (preferably PPP) as the primary factor, limits on the weight of IDA contributions in the dynamic formula, and pragmatic, borrower informed Environmental and Social Standards.
    April 18, 2016
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    Global Financial Safety Net: IMF quotas and predictable support must be strengthened to reflect emerging market weight.
    The address outlines India's multi pronged reform strategy-investment promotion (eased FDI, NIIF, infrastructure spending), medium term fiscal consolidation with a fiscal deficit target, corporate tax rationalisation and implementation of the Goods and Services Tax, plus structural measures (Bankruptcy Code, financial inclusion with Aadhaar backing, Digital India, Skill India, MUDRA, crop insurance)-and urges strengthening IMF resources and governance through completion of the Quota Formula Review and General Review to reinforce the Global Financial Safety Net.
    April 14, 2016
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    Port led development invites global investment to modernize and integrate India's ports with industrial and logistics hubs.
    Affirms a national policy drive to reposition India as a leading maritime economy by mobilizing private and public investment into port and allied maritime infrastructure, promoting port led development through modernization and capacity expansion of major ports, creation of new ports, and integration of ports with SEZs, Port based Smart Cities, industrial parks and logistics hubs; showcases a project pipeline to attract international partners and facilitate coastal shipping and inland waterways to improve hinterland connectivity.
    April 14, 2016
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    Investment opportunity: India's macro stability and policy reforms enhance its attractiveness to global investors.
    India's robust growth, contained inflation, low current account deficit, and fiscal consolidation are presented as creating an investment opportunity for global capital. The Government's decisive policy direction, transparency, tax reforms, Make in India, higher FDI limits, expedited project clearances, measures to improve ease of doing business, market-linked fuel pricing, and Aadhaar-linked Direct Benefit Transfer are identified as operational reforms that reduce regulatory frictions and enhance the investment climate.
    April 13, 2016
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    NSSF loan interest rate revised downward for centre and states, easing interest transmission and reducing state burden.
    The Government lowered the NSSF loan interest rate for loans from the National Small Savings Fund to the Centre and State/UT Governments for FY 2016-17, replacing the prior year's higher rate because it was deemed burdensome on State finances and to aid transmission of lower economy-wide interest rates.
    April 12, 2016
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    Repayment of floating rate bonds: repayable at par on maturity with mandatory bank mandate or tendering procedure for payment.
    Repayment of Government of India Floating Rate Bonds 2016 is scheduled at par on May 07, 2016 with no interest accruing thereafter; if a state holiday under the Negotiable Instruments Act falls on that date, repayment will be made on the previous working day. Payment of maturity proceeds will be made by pay order with bank account particulars or by electronic credit to accounts able to receive electronic funds; holders must submit bank particulars in advance or, absent those particulars, tender discharged securities at designated paying offices twenty days before maturity to facilitate repayment.
    April 12, 2016
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    Fiscal discipline: States urged to prioritise targeted development spending and use DBT and JAM to prevent leakages.
    States are urged to adhere to fiscal discipline by containing expenditures within available resources and using increased fiscal space from the 14th Finance Commission to prioritise infrastructure, social and rural development. The Centre emphasises effective spending that minimises leakages, promotes Direct Benefit Transfer and the JAM trinity for targeted delivery, and reiterates commitment to prudent macro-fiscal management and the mandated fiscal deficit target while noting enhanced Central Assistance for State and UT plans.
    April 12, 2016
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    Official visit: Finance Minister to attend IMF and World Bank meetings and engage institutional investors and pension funds.
    A week long official visit by the Union Finance Minister to the United States aligns participation in World Bank and IMF Spring Meetings, BRICS and G 20 sessions, and bilateral financial dialogue with targeted outreach to long term and pension funds, institutional investors, and policy forums to promote investment in India, together with participation in a UN General Assembly special session on drugs.
    April 9, 2016
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    MGNREGA fund release secures pending wage liabilities and reinforces wage-material allocation while boosting rural asset creation.
    Release of central funds under MGNREGA is directed to clear pending wage liabilities and sustain programme operations, with emphasis on timely wage payments via the National Electronic Fund Management System and maintaining a 60:40 wage-material ratio at district level to ensure quality rural asset creation; reforms expand entitlements and target work in drought-affected areas to promote durable, income-generating assets and large-scale household participation.

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