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NARENDRA MODI - DAY 94 IN OFFICE


29-08-2014NARENDRA MODI - DAY 94 IN OFFICE


  • Prime Minster Modi launched his ambitious financial inclusion scheme Jan Dhan Yojana, which aims to provide a bank account to every Indian family. Modi described the scheme as a move to integrate every Indian to the economic system and end 'financial untouchability', for nearly 40 per cent of people in the country.
  • Under the scheme, each account holder will be provided with a 'RuPay' debit card and Rs. 1 lakh accident cover. Those who join up for the scheme before January 2015 will be paid Rs. 30,000 additional insurance apart.
  • The Prime Minister approved formation of a committee that will review the laws and identify the archaic and obsolete ones, recommended by Review of Administrative Laws that was appointed in 1998 during Atal Bihari Vajpayee’s tenure. This committee will be chaired by Secretary, PMO – R Ramanujam. Narendra Modi expressed his concern regarding the fact that just 415 out of the recommended 1382 Acts were repealed till date.
  • A few days before his bilateral meet in Japan from August 30 to September 3, Modi made series of tweets aimed directly at Japanese people. One tweet in Japanese was addressed directly to PM of Japan, Shinzo Abe, mentioning his deep respect for the latter’s leadership and eagerness to meet him.  
  • During PM’s visit to Japan next week, India is hoping to get support of Japan in a nuclear energy pact. Similar to 2008 deal with the USA, India wants a nuclear energy pact with Japan too. However, Japan wants guarantee from India that the nuclear fuel as well as technology supplied for energy production will not be used for making bombs.
  • During a public programme, Union finance minister Arun Jaitley said that GAAR or General Anti Avoidance Rules are being revisited and a decision will be taken soon. On a question regarding the government’s plans on Land Acquisition Act, Jaitley hinted of coming out with Plan B which will simplify the procedure of acquisition. He has also stressed on raising the compensation value.
  • Pakistani Rangers today open fired on BSF along international borders without any provocation, just hours after holding flag meeting in Jammu and Kashmir’s Pargwal sector. No damage or casualty was reported on Indian side. Manish Tewari of Congress hit out saying the current government has failed in bringing peace at border.
  • In a release today, Moody's Investors Service has pointed out that persisting high inflation is hurting sovereign ratings of India. As per the report, recurring inflation is keeping costs of domestic capital high, eroding savings as well as purchasing power of domestic market, and also lowering India’s standing in international market.
  • According to a report submitted by former finance secretary Vijay Kelkar, only through market linked gas pricing the investors can be lured to this sector to increase domestic gas production.
  • Road Transport and Highways Ministry has been given full authority for easing MCA or Model Concession Agreement to expedite delivery of highway projects.
  • Inside the North Block housing many ministries including Personnel and Home Affairs, wooden 'idea boxes' or ‘vichar petika’ have been put so that out-of-the-box suggestions can be placed there on governance-related matters.
  • India Inc has given big thumbs-up to the Narendra Modi government. In comparison to the last UPA-II regime, its confidence has improved but there have been concerns regarding bringing an end to ‘tax terrorism’ as well as implementation of GST.
  • On the expectation that India will revive under the new Modi government, the Hedge Funds that invested in India performed extremely well. Till July, return of these Hedge Funds was 26 per cent, compared to an average of just 3.5 per cent for those who are investing in Asia as a whole.
  • Chief Ministers of different states have accused the 3-month old Narendra Modi government of high handedness. They have complained that the Union government is ignoring the federal principals.
  • Politburo Member of CPI-M, Brinda Karat, has pointed out that the call of maximum governance by the Narendra Modi government is surely becoming maximum power of PMO.
  • An alliance between the ruling party at the centre and Haryana Janhit Congress, which lasted for three years, came to an end today after a prolonged tussle. The HJC-BL leader, Kuldeep Bishnoi, alleged that BJP was not sticking to the agreed upon principles of the alliance, which forced them to snap the knot.
  • Actress Maitreya Gowda has complained against son of Union Railway minister D V Sadananda Gowda of cheating and sexual exploitation. The Union minister has said that his son was implicated falsely.  
  • Sanjeev Baliyan, Union Minister of State for Agriculture and Food Processing, offered his prayers at Muzaffarnagar in Uttar Pradesh where two Jat men were killed by a mob belonging to Muslim community. Interestingly, the minister is a riot accused himself.  

WBDB28.08.2014

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Last Updated on August 29, 2014, 5:43 pm