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NARENDRA MODI - DAY 76 IN OFFICE


11-08-2014NARENDRA MODI - DAY 76 IN OFFICE


  • Finance Minister Arun Jaitley will on Monaday inaugurate the annual conference of the Chief Commissioners and Director Generals of Customs, Central Excise and Service Tax. In an statement, he said, “The main focus during the two-day annual conference would be the assessment of the department's performance in various spheres during the last financial year, challenges in achieving revenue targets set for indirect taxes by the government in the current financial year and preparing an action plan for meeting these revenue targets”.
  • Central Bank Governor Raghuram Rajan said RBI has started discussing proposed monetary policy with the finance ministry. After a meeting of the RBI board, he said, “We will be discussing monetary policy framework through the course of the year. Just now we have started a preliminary discussion and the framework will be developed along with the finance ministry”. Finance Minister Arun Jaitley, who was also present in the meeting, said the RBI would take steps to meet its target of getting the consumer inflation down to 6 percent.
  • Finance Minister Arun Jaitley asked market regulator, Securities and Exchange Board of India (SEBI), to remain vigilant in order to check possible market violations. He also asked it to attract retail investors more and also address their grievances. SEBI said in a press statement, “The minister advised SEBI to remain vigilant about probable violations in the market, focus more on attracting the retail investors and on redressing investor grievances”.
  • Finance Minister Arun Jaitley said he had already made it clear that there was a need to cut interest rates to boost growth. He also said that he hoped the RBI would take a decision regarding the same after considering various factors. After addressing the RBI central board, he told media, “I, on the same evening (June 3 and Aug 5) already issued a clear statement and I think that's very clear. This is an issue that the RBI decides and I am sure they factor in various circumstances”.
  • The Prime Minister Office (PMO) has asked the ministries and departments to not rush to courts every time there is a conflict with another ministry. The statement was issued in the backdrop of increasing backlog of cases in courts, where government is emerging as the main litigator. According to reports, this is the initial step to cut down the litigation in which it is a party.
  • PM Narendra Modi paid a visit to former BJP leader Jaswant Singh who is on life support system after being operated upon for a head injury at the Army Research and Referral Hospital in New Delhi. A PMO statement said, “The Prime Minister spoke to Jaswant Singh's family members at the hospital and hoped for his speedy recovery”.
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Last Updated on August 11, 2014, 2:02 pm