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NARENDRA MODI - DAY 97 IN OFFICE


01-09-2014NARENDRA MODI - DAY 97 IN OFFICE


  • Narendra Modi started his Japan tour with the message of ‘Inclusive Vision’. He admired his counterpart of Japan Shinzo Abe’s nationalist politics. One of the main objectives of the Indian Prime Minister in visiting Japan is to convince Japanese PM in backing the Nuclear Energy pact, besides bullet train project. On day 2 of PM’s Japan visit, he took special interest in surveying Kyoto, the cultural capital of Japan. On the basis of experiences learned, Varanasi will be developed into a ‘Smart City’. Partner City MoU has been signed between the two countries in the presence of both PMs. Indian PM has requested for help from Japan on finding remedial solutions on Sickle Cell Anaemia, generally found among tribals of India. It is believed that Japan has responded positively on this. Modi has also gifted his counterpart copies of Bhagawad Gita as well as books on Swami Vivekananda. He also visited ancient Kinkaku-ji Temple in Kyoto.
  • Petrol price in India slashed for the third time in a row. It is cut by Rs. 1.82 per litre. However, diesel price has been increased by Rs. 0.50 per litre.
  • The Government of India is all set to ‘corporatise’ major ports of India. A world-class consultant needs to be appointed who will help in creating a draft report that will propose the amendments needed to be done in the relevant act. The process of selecting the consultant has been started.
  • Almost a month before Indian Prime Minister steps in USA to meet the US President, India today gave strong friendly signals to Washington by deciding to buy Boeing's Chinook and Apache helicopters, a deal worth $2.5 billion.
  • Government will focus on rural infrastructure development to perk up investments on one hand and spur growth on the other. Currently, the government is in the process of realistically assessing the rural infrastructure projects (including housing, bridges, roads, etc.) that can be accomplished during the current fiscal within the current allocations.
  • NDA government is on the spree of sacking independent directors in different state-owned companies, appointed by erstwhile UPA2 government. After removing IOC’s independent director, Narednra Modi government is now in the process of removing 9 more directors from the boards of MRPL, HPCL, and ONGC.
  • Suspension of talks with neigbouring Pakistan by Narendra Modi government was criticised by J&K Chief Minister Omar Abdullah. He also said that suspension of talks was demoralising for the people of Jammu and Kashmir.
  • Government wants to increase its stake at one of the oldest financial institutions of India, IFCI, from 48 per cent to 51 per cent by pumping in Rs. 60 crore.
  • Finance Minister Arun Jaitley during a press conference said that the manufacturing sector is bouncing back towards normalcy. He also seemed confident in passing the Insurance Bill during next parliamentary session. He also said that there are enough signs of inflation moderation. The Goods and Services Tax issue has been discussed with the finance ministers of Rajasthan as well as West Bengal. While replying to a question on GST, the Finance Minister of India said that too many items are not possible to be kept out of Goods and Services Tax chain.
  • ASSOCHAM said that coal block cancellation will shake investors' confidence. As a remedial measure they have suggested a two-pronged strategy.
  • Without naming any specific state-owned company, Finance Secretary, Arvind Mayaram said that the Indian government will sell some of their stakes in state-run companies.
  • Railway minister D. V. Sadananda Gowda, while pointing at the resurging GDP growth of India, said that the new government has brought back the economy on growth path.
  • Government is going to increase the OFS or Offer for Sale quota to 20 per cent (from 10 per cent currently) for retail investors in PSU during sales of stake.  
  • DA or Dearness Allowance for central government employees and pensioners will be increased from 100 per cent to 107 per cent. This will benefit 30 lakhs of central employees and fifty lakhs pensioners, which includes dependants.
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Last Updated on September 1, 2014, 3:21 pm