Highlights of this Issue
Policy repo rate increased to 6.25%; reverse repo rate increased to 6%
The Monetary Policy Committee increased the repo rate (at which RBI lends money to banks) from 6% to 6.25%. The reverse repo rate (at which RBI borrows money from banks) was also increased from 5.75% to 6%.
CAD at 1.9% of GDP in 2017-18; fourth quarter 2017-18 CAD also at 1.9% of GDP
In 2017-18, Current Account Deficit (CAD) increased to 1.9% of GDP from 0.6% in 2016-17. CAD in the fourth quarter of 2017-18 increased to USD 13 billion from USD 2.6 billion in the corresponding quarter of 2016-17.
The Insolvency and Bankruptcy (Amendment) Ordinance, 2018 promulgated
The Ordinance clarifies that homebuyers will be considered financial creditors. It also makes certain changes to the voting threshold for the committee of creditors, and the applicability of the Code to MSMEs.
Ministry of Corporate Affairs invites comments on draft on cross border insolvency
The draft provides a comprehensive framework to access the foreign assets of companies undergoing insolvency proceedings. It will apply to all corporate debtors under the Insolvency and Bankruptcy Code, 2016.
Draft Bill introduced to repeal the University Grants Commission Act, 1956 (UGC)
The draft Bill sets up a Higher Education Commission to replace the UGC. The Commission will determine norms for granting autonomy, fees, specify learning outcomes for courses, and conduct annual reviews.
Report of the High Level Task Force on Public Credit Registry for India released
The report examines the current credit information infrastructure systems in India and recommends the setting up of a public credit registry in the country.
Cabinet approves the Dam Safety Bill, 2018
The draft Bill aims to provide proper surveillance, inspection, operation, and maintenance of all specified dams in the country to ensure their safe functioning.
Cabinet approves interventions to deal with the current crisis in the sugar sector
The Union Cabinet approved measures of Rs 7,000 crore to improve liquidity of sugar mills and enable them to clear sugarcane arrears of farmers. These include setting the minimum selling price of refined sugar at Rs 29 per kg.
Cauvery Water Management Scheme, 2018 formulated
The scheme has been formulated to implement the decision of the Cauvery Water Disputes Tribunal, that was modified by the Supreme Court in February 2018.
Long term growth trajectory for renewable purchase obligations (RPO) notified
The current RPO growth trajectory (for both solar and non-solar) is between 11.5%-17% for 2016-17 to 2018-19. This has been increased to 17.5% - 21% for 2019-20 to 2021-22.
NITI Aayog submits two reports on water management and artificial intelligence
NITI Aayog released a report on the Composite Water Management Index which ranks states on several parameters including water availability and management. It also released a paper on national strategy for artificial intelligence.
Macroeconomic Development
Roopal Suhag (roopal@prsindia.org)
The Monetary Policy Committee (MPC) released the second Bi-Monthly Monetary Policy Statement of 2018-19.[1] The policy repo rate (rate at which RBI lends money to banks) was increased from 6% to 6.25%. Other decisions of the MPC include:
India’s Current Account Deficit (CAD) in the fourth quarter (Jan-Mar) of 2017-18 increased to USD 13 billion (1.9% of GDP) from USD 2.6 billion (0.4% of GDP) in the corresponding quarter of 2016-17.[2] Note that CAD in the third quarter (Oct-Dec) of 2017-18 was USD 13.5 billion (2.1% of GDP).
Foreign exchange reserves increased by USD 13.2 billion, as compared with an increase of USD 7.3 billion in the fourth quarter of 2016-17, driven by stronger capital inflows.
Table 1 shows the balance of payments in the fourth quarter of 2017-18.
Table 1: Balance of Payments in Q4 of 2017-18 (USD billion)
Q4 2016-17 |
Q3 2017-18 |
Q4 2017-18 |
|
Current Account |
-2.6 |
-13.5 |
-13.0 |
Capital Account |
10.3 |
22.0 |
25.0 |
Errors and Omissions |
-0.5 |
0.8 |
1.3 |
Change in reserves |
7.3 |
9.4 |
13.2 |
Sources: Reserve Bank of India; PRS.
In the financial year 2017-18, CAD increased to 1.9% of GDP from 0.6% in 2016-17. India’s trade deficit increased to USD 160 billion from USD 112.4 billion in 2016-17. Table 2 shows the balance of payments in 2017-18.
Table 2: Balance of Payments in 2017-18 (USD billion)
2016-17 |
2017-18 |
|
Current Account |
-14.4 |
-48.7 |
Capital Account |
36.4 |
91.4 |
Errors and Omissions |
-0.5 |
0.9 |
Change in reserves |
21.6 |
43.6 |
Sources: Reserve Bank of India; PRS.
Finance
Ahita Paul (ahita@prsindia.org)
The Reserve Bank of India (RBI) had constituted a High Level Task Force to assess the need and scope of creating a public credit registry in India. The report was made available to the public on June 6, 2018. [3]
Currently, India has multiple entities storing credit data. For example, there are four private Credit Information Companies – (i) TransUnion CIBIL, (ii) Equifax, (iii) Experian and (iv) CRIF High Mark that maintain credit data of borrowers. There are also entities within the RBI such as the Central Repository of Information on Large Credits and the Basic Statistical Return-1 that record loans larger than five crore rupees, and credit across various sectors. Information Utilities also store financial credit data to help establish defaults by borrowers.
Challenges with current scenario: The Task Force identified various shortcomings in the current credit information structure in India, such as: (i) data stored is incomprehensive, and fragmented across different entities, for example, data on borrowings from banks, inter-corporate and overseas borrowings, are not available in a single repository; (ii) reliance on self-disclosure by the borrower; (iii) time lags and discrepancies between multiple data sources; and (iv) increased reporting burden on credit institutions from having to report to multiple entities.
Public credit registry: To bring about efficiency and transparency in the lending market, the task force recommended creating a public credit registry. The credit registry should: (i) be backed by a suitable legal framework, (ii) be for all loans regardless of amount, capture data currently not recorded in the system, for example, data on external borrowings, (iv) store supplementary credit data such as utility bill payments history to benefit individuals with no credit history, and (vi) ensure security and privacy of the stored information. Further, reporting entities should ensure the quality of data in the registry.
For a PRS report summary, see here.
Ahita Paul (ahita@prsindia.org)
The Securities and Exchange Board of India (SEBI) created an Expert Committee to examine allowing companies incorporated in India to directly list their equity overseas, and foreign companies to directly list their equity on Indian exchanges.[4] The terms of reference of the Committee require it to examine the economic feasibility as well as the legal, regulatory and operational constraints of permitting direct listing of Indian companies on foreign exchanges and vice versa. The Committee will also recommend a suitable framework for the same.
Ahita Paul (ahita@prsindia.org)
The Reserve Bank of India (RBI) released draft guidelines related to delivering bank credit to borrowers with large working capital borrowings.[5] With regard to borrowers with working capital limit of Rs 150 crore and more, the guidelines require that at least 40% of the working capital should be held as loans, limiting the cash credit component to 60%. This provision will be applicable from October 1, 2018. The 40% loan component will be increased to 60% from April 1, 2019. The banks will decide the fixed loan amount and tenure in consultation with the borrower, subject to the tenure being at least seven days.
Suyash Tiwari (suyash@prsindia.org)
The Income Tax Department launched the revised Income Tax Informants Reward Scheme, 2018 and the Benami Transactions Informants Reward Scheme, 2018.[6],[7] These schemes reward informants whose information leads to: (i) detection of substantial tax evasion, or (ii) identification of any benami property worth more than one crore rupees. Persons residing outside India, irrespective of their nationalities, are also eligible to become informants.
Corporate Affairs
Prachee Mishra (prachee@prsindia.org)
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 was promulgated. It amends the Insolvency and Bankruptcy Code, 2016. The Code provides a time-bound process for resolving insolvency in companies and among individuals. Key features of the Ordinance include:
For a PRS Ordinance summary, see here.
Gayatri Mann (gayatri@prsindia.org)
The Ministry of Corporate Affairs released draft norms on cross border insolvency under the Insolvency and Bankruptcy Code, 2016 (IBC).[8] The norms are based on the UNCITRAL Model Law on Cross Border Insolvency, 1997 which provides a uniform mechanism for cross border insolvency. Under the IBC, the central government is required to enter into agreements with countries to initiate cross border insolvency proceedings. In addition, a letter of request is issued to access assets situated in other countries. Key features of the draft norms include:
Commerce and Industry
Ahita Paul (ahita@prsindia.org)
The Union Cabinet approved guidelines on timely closure of sick central public sector enterprises and disposal of their assets.[9] According to the new guidelines, the land obtained from the closure of such public sector enterprises will be prioritised to provide affordable housing per the relevant guidelines of Ministry of Housing and Urban Affairs. The employees of these enterprises will be given voluntary retirement at 2007 notional pay scales.
The Ministry of Commerce and Industry constituted an expert group (Chair: Mr. Baba Kalyani, Chairman of Bharat Forge) to study the Special Economic Zones (SEZ) Policy of India.[10] The current SEZ Act was passed in 2005. The group will: (i) evaluate India’s SEZ policy, (ii) suggest measures to cater to the needs of exporters in the present economic scenario, and (iii) make the SEZ policy compatible with the World Trade Organisation. The group is required to submit its recommendations within three months.
The Cabinet Committee on Economic Affairs approved a grant-in-aid of Rs 1,040 crore to the National Export Insurance Account Trust.[11] The corpus is to be utilised during three years from 2017-18 to 2019-20. An amount of Rs 440 crore has already been received for the year 2017-18. The remaining Rs 600 crore will be split equally in the following two years.
The Cabinet Committee on Economic Affairs approved capital infusion of Rs 2,000 crore for strengthening the Export Credit Guarantee Corporation.[12] The amount will be distributed in the next three financial years, in the following manner, Rs 50 crore in 2017-18, Rs 1,450 crore in 2018-19 and Rs 500 crore in 2019-20.
Education
Gayatri Mann (gayatri@prsindia.org)
The Ministry of Human Resource Development has invited comments till July 7, 2018 on the Draft Higher Education Commission of India (Repeal of University Grants Commission Act) Bill 2018.[13] The draft Bill seeks to repeal the University Grants Commission Act, 1956 and set up a Higher Education Commission. The Commission will ensure: (i) maintenance of academic standards in higher education, (ii) promotion of autonomy of higher education institutions, and, (iii) periodic performance assessment of higher education institutions. Currently, the UGC is a statutory body that coordinates, determines, and maintains the standards of higher education. Key features of the draft Bill include:
Water
Roopal Suhag (roopal@prsindia.org)
The Union Cabinet has approved the introduction of the Dam Safety Bill, 2018.[14] The draft Bill aims to provide proper surveillance, inspection, operation, and maintenance of all specified dams in the country to ensure their safe functioning. Key features of the draft Bill include:
The draft Bill is not available in public domain.
The Cauvery Water Management Scheme, 2018 was formulated by the government to implement the decision of the Cauvery Water Disputes Tribunal, that was modified by the Supreme Court in February 2018.[15] The Supreme Court in its judgement increased the share of Karnataka by 14.75 TMC and reduced the share of Tamil Nadu by the same amount. To implement the scheme, the government has constituted the Cauvery Water Management Authority and the Cauvery Water Regulation Committee.[16] Key details include:
Cauvery Water Management Authority
Cauvery Water Regulation Committee
NITI Aayog has developed the Composite Water Management Index 2018 to enable effective water management in Indian states.[17] In its report released on June 14, 2018, it has noted that currently, 600 million Indians face high to extreme water stress and about two lakh people die every year due to inadequate access to safe water. In addition, by 2030, the country’s water demand is projected to be twice the available supply, implying severe water scarcity and an eventual loss of 6% to the country’s GDP. Through the Composite Water Management Index, NITI Aayog has: (i) ranked states on several parameters with regard to their water availability, use, and management, and (ii) prepared a national database on water. The index aims to increase competitiveness among states with regard to water use and conservation.
The main findings from the report include:
Housing and Urban Affairs
The RBI has increased housing loan limits for eligibility under priority sector lending.[18],[19] The revisions seek to bring convergence between the priority sector lending guidelines for housing loans and the affordable housing scheme, Pradhan Mantri Awas Yojana (PMAY).
As per the older criteria, loans to individuals up to: (i) Rs 28 lakh in metropolitan centres (with population of ten lakh and above), and (ii) Rs 20 lakh in other centres, were eligible to be classified under priority sector. The maximum cost of these dwelling units was Rs 35 lakh and Rs 25 lakh, respectively.
These limits have been increased to: (i) Rs 35 lakh in metropolitan centres, and (ii) Rs 25 lakh in other centres. The maximum cost of these dwelling unit should not exceed Rs 45 lakh and Rs 30 lakh in the metropolitan centre and at other centres, respectively.
Further, under the older criteria, for the purpose of identifying the economically weaker sections (EWS) and low income groups (LIG), the family income limit prescribed was two lakh rupees per annum. This limit has been increased to three lakh rupees per annum for EWS and six lakh rupees per annum for LIG. This is in alignment with the income criteria specified under PMAY.
The Ministry of Housing and Urban Affairs has approved revision of the carpet area of houses eligible for the Credit Linked Subsidy Scheme (CLSS) for the middle income group (MIG) under the Pradhan Mantri Awas Yojana – Urban (PMAY-U).[20] Under CLSS, subsidy is provided on home loans taken by eligible persons for buying or constructing a house. The revised carpet area will be effective retrospectively from January 1, 2017, i.e., from the date when the scheme became operational. The CLSS for MIG scheme will be implemented till March 31, 2019.
There are two categories of MIG beneficiaries: (i) MIG-I (annual income between six lakh rupees and Rs 12 lakh), and (ii) MIG-II (annual income between Rs 12 lakh and Rs 18 lakh). The carpet area of dwelling units under the scheme has been increased: (i) from 120 sq ft to 160 sq ft for MIG-I, and (ii) from 150 sq ft to 200 sq ft for MIG-II.
Benefits under CLSS had been extended to the MIG group in February 2017 (earlier they were only applicable to the economically weaker section, and the lower income groups). The carpet area of dwelling units under the MIG category were last increased in November 2017. Details of CLSS for MIG are as follows:
Table 3: Details of CLSS for MIG
Particulars |
MIG I |
MIG II |
Household Income (per annum) |
Between Rs six lakh and Rs 12 lakh |
Between Rs 12 lakh and Rs 18 lakh |
Interest subsidy (% per annum) |
4% |
3% |
Maximum loan tenure (in years) |
20 |
20 |
Eligible Housing Loan Amount for Interest Subsidy (Rs.) |
Rs 9 lakh |
Rs 12 lakh |
Carpet Area of dwelling unit |
160 sq.m. |
200 sq.m. |
Sources: Press Information Bureau, Ministry of Housing and Urban Affairs; PRS.
The Ministry of Housing and Urban Affairs constituted a Committee for Standardisation and Indigenisation in Metro Rail Systems (Chair: Dr. E. Sreedharan).[21] The Committee will look at various indigenous standards that need to be formulated for metro systems. These include: (i) layout of metro station, platforms, signage and displays, (ii) size of tunnels, (iii) fire protection systems, (iv) disaster management systems, (v) environment friendly and waste management systems, and (vi) standards for solar panels at metro stations.
These indigenous standards will seek to encourage manufacturing of metro systems in the country and help reduce the cost of the metro rail construction and operation. The committee is expected to submit its report in three months.
Shillong, the capital of Meghalaya has been selected as the 100th Smart City.[22] This completes selection of the 100 cities under the Smart Cities Mission. With the selection of Shillong, the total proposed investment in the selected 100 cities under the Mission would be Rs 2,05,018 crore.
Agriculture
Suyash Tiwari (suyash@prsindia.org)
The governing council of the NITI Aayog constituted a sub-group of Chief Ministers (CMs) to coordinate policy approaches for the agriculture sector and the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).[23] The sub-group has the CM of Madhya Pradesh as its convenor and will submit its report within three months. Its members include the CMs of: (i) Andhra Pradesh, (ii) Bihar, (iii) Gujarat, (iv) Sikkim, (v) Uttar Pradesh, and (vi) West Bengal, and Mr. Ramesh Chand, Member, NITI Aayog.
Terms of reference of the sub-group include:
The Union Cabinet has approved the continuation of the three-year action plan (2017-2020) of the Agricultural Education Division and the Indian Council of Agricultural Research (ICAR) institutes.[24] This has an outlay of about Rs 2,225 crore, of which Rs 2,197 crore shall be contributed by the central government. States shall contribute about Rs 28 crore to cover expenditure on the salary component.
The action plan aims to generate quality human resources from institutes of higher agricultural education. It also allocates funds for research to make agriculture and allied fields gender-equitable, and to address capacity building needs of all stakeholders.
Science and Technology
Suyash Tiwari (suyash@prsindia.org)
NITI Aayog released a discussion paper on National Strategy for Artificial Intelligence.[25] Artificial Intelligence (AI) refers to the ability of machines to perform cognitive tasks like thinking, perceiving, problem solving, and decision making. The discussion paper focuses on how India can leverage AI to ensure growth in line with the development priorities of the government. It emphasises on the adoption of AI solutions for: (i) agriculture, (ii) education, (iii) healthcare, (iv) smart cities and infrastructure, and (v) smart mobility and transportation.
While each sector has its barriers to successful adoption of AI, the paper identifies some key challenges across the sectors. These include: (i) lack of expertise in research and application of AI, (ii) lack of quality data ecosystems suitable for successful adoption, (iii) high resource cost and low awareness for adoption of AI, (iv) lack of formal privacy, security, and ethical regulations, and (v) absence of collaborative approach to adoption and application of AI.
In order to address these challenges, the paper gives a set of recommendations, which include:
The Union Cabinet approved Phase VI of the Polar Satellite Launch Vehicle (PSLV) continuation programme and funding for Phase I of the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk-III) continuation programme.[26],[27] These approvals will apply to the launch of satellite missions during the period 2019-2024.
The funding of Rs 4,338 crore for Phase I of GSLV programme will cover the cost of ten GSLV Mk-III vehicles, essential facility augmentation, programme management, and launch campaign. This is the first phase of operational flights that will enable the launch of four tonne class of communication satellites.
The approval for Phase VI of PSLV programme comes with a funding of Rs 6,131 crore. These funds account for the cost of 30 PSLV vehicles, essential facility augmentation, programme management, and launch campaign. This phase shall meet the demand for the launch of satellites at a frequency of up to eight launches per year, primarily for earth observation, navigation, and space sciences.
Consumer Affairs
Gayatri Mann (gayatri@prsindia.org)
The Union Cabinet approved several measures to improve liquidity of the sugar mills and enable them to clear sugarcane price arrears of farmers.[28] The following measures of Rs 7,000 crore were approved:
Energy
The Ministry of Environment, Forest and Climate Change had notified the Environment (Protection) Amendment Rules, 2015 on December 7, 2015 to introduce revised emission standards for thermal power plants (TPPs).[29] These standards would require additional infrastructure and operational costs due to large scale installation, renovations and retrofitting of existing plant machinery. The Ministry of Power has released a mechanism (or enabling guidelines) to ensure implementation of these revised environmental norms.[30] These guidelines also seek to provide regulatory certainty to TPPs to recover the additional costs through tariff.
Key guidelines include:
The Ministry of Power notified the long term growth trajectory of Renewable Purchase Obligations (RPOs) for both solar and non-solar energy.[31] RPOs are purchase obligations on electricity distribution companies to purchase certain amount of their energy requirements from renewable energy sources. The new targets seek to achieve the target of 175 GW of renewable capacity by 2022.
Between 2016-17 and 2018-19, the long term RPO trajectory was as follows:
Table 4: Long-term RPO trajectory
|
2016-17 |
2017-18 |
2018-19 |
Non-solar |
8.75% |
9.50% |
10.25% |
Solar |
2.75% |
4.75% |
6.75% |
Total |
11.50% |
14.25% |
17.00% |
Sources: Ministry of Power; PRS.
These obligations are based on the total consumption of electricity, excluding consumption met from hydro power. The new long term RPO trajectory for all states and union territories is as follows:
Table 5: Long-term RPO trajectory
|
2019-20 |
2020-21 |
2021-22 |
Non-solar |
10.25% |
10.25% |
10.50% |
Solar |
7.25% |
8.75% |
10.50% |
Total |
17.50% |
19.00% |
21.00% |
Sources: Ministry of Power; PRS.
If either RPO is achieved till 85% and above, the remaining shortfall can be met by purchasing the other energy (solar or non-solar) beyond its required RPO for that year.
The Cabinet Committee on Economic Affairs approved the Phase III of the Off-grid and Decentralised Solar Photo Voltaic (PV) Applications Programme.[33] Phase III will have the following components:
Petroleum and Natural Gas
The Cabinet Committee on Economic Affairs approved the revision of ethanol price under the Ethanol Blended Petrol Programme for supply to public sector oil marketing companies.[34] Currently, there is a flat rate for ethanol, irrespective of the mode of manufacture. Blending ethanol with petrol helps reduce vehicle exhaust emissions and reduces the import burden for petroleum. The Ethanol Blended Petrol Programme was launched in 2003 to promote the use of alternative and environment friendly fuels. However, since 2006, Oil Marketing Companies were not able to procure the required quantity of ethanol due to pricing issues of ethanol. Therefore, the government has been administering the price of ethanol under the programme since December 2014.
The revision approves different rates for ethanol manufactured from different sources, for the ethanol supply period between December 1, 2018 and November 30, 2019. Key changes approved include:
Social Justice
Gayatri Mann (gayatri@prsindia.org)
The Union Cabinet approved the extension of term of the Commission to examine the issue of sub-categorisation of Other Backward Classes (Chairperson: Justice G. Rohini) by eight weeks, from June 20, 2018 to July 31, 2018.[35] The Commission had previously received an extension of 12 weeks from March 27, 2018. The Commission started functioning on October 11, 2017. It was required to submit its report within 12 weeks from the date of appointment of its Chairperson.[36]
Information Technology
The Ministry of Electronics and Information Technology released certain amendments to the Digidhan Mission.[37] The Mission is implemented under the Digital India programme and seeks to achieve a target of 2,500 crore digital transactions in 2017-18. Key amendments include:
External Affairs
Roopal Suhag (roopal@prsindia.org)
Visit of President of Seychelles to India
The President of Seychelles visited India.[38] Six agreements were signed between the two countries on various subjects, including: (i) Indian grant assistance for implementation of small development projects through local bodies; (ii) cooperation in the area of cyber security; and (iii) sharing white shipping information between the India Navy and National Information Sharing and Coordination Center of Seychelles.
Visit of Prime Minister to China
The Prime Minister visited China and signed two bilateral agreements.[39] These relate to: (i) provision of hydrological information of Brahmaputra river in flood season by China to India; and (ii) phytosanitary requirements (measures for control of plant diseases in agricultural crops) for exporting rice from India to China.
[1] Second Bi-Monthly Monetary Policy Statement 2018-19, Press Release, Reserve Bank of India, June 6, 2018, http://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR3190CD624DC4A2BD4F20AF3F8C8CAD81A513.PDF.
[2] “Developments in India’s Balance of Payments during the fourth quarter of 2017-18”, Reserve Bank of India, Press Release, June 13, 2018, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR3265747CB80687CD49A9A1444D2B46F81400.PDF.
[3] Report of the High Level Task Force on Public Credit Registry for India, June 6, 2018 https://rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=895#C2.
[4] “Expert Committee for listing of equity share capital of companies incorporated in India on foreign exchanges and vice versa”, Press Release, SEBI, June 12, 2018
[5] “Draft guidelines on Loan System for Delivery of Bank Credit”, RBI, June 11, 2018
https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=3495.
[6] “Income Tax Department issues Revised Income Tax Informants Reward Scheme, 2018”, Press Information Bureau, Ministry of Finance, June 1, 2018.
[7] “New Benami Transactions Informants Reward Scheme, 2018 launched by the Income Tax Department”, Press Information Bureau, Ministry of Finance, June 1, 2018.
[8] “Draft on Cross Border Insolvency”, Ministry of Corporate Affairs, July 20, 2018, http://www.mca.gov.in/Ministry/pdf/PublicNoiceCrossBorder_20062018.pdf.
[9] “Cabinet approves Revised guidelines on time bound closure of sick/ loss making Central Public Sector Enterprises and disposal of movable and immovable assets”, Press Information Bureau, Cabinet, June 6, 2018.
[10] “Baba Kalyani heads group to study SEZ Policy”, Press Information Bureau, Ministry of Commerce and Industry, June 6, 2018.
[11] “Cabinet approves a Corpus to National Export Insurance Account Trust”, Press Information Bureau, Cabinet Committee on Economic Affairs, June 27, 2018.
[12] “Cabinet approves capital infusion in Export Credit Guarantee Corporation Ltd.”, Press Information Bureau, Cabinet Committee on Economic Affairs, June 27, 2018
[13] Draft Higher Education Commission of India (Repeal of University Grants Commission Act) Act 2018, Ministry of Human Resource Development, June 27, 2018
http://mhrd.gov.in/sites/upload_files/mhrd/files/HE_CoI_India_2018_act.pdf.
[14] “Cabinet approves proposal for enactment of Dam Safety Bill, 2018”, Press Information Bureau, Ministry of Water Resources, River Development and Ganga Rejuvenation, June 13, 2018.
[15] The State of Karnataka by its Chief Secretary vs State of Tamil Nadu by its Chief Secretary & Ors., Civil Appeal No. 2453 of 2007 with State of Kerala through the Chief Secretary to Government vs State of Tamil Nadu through the Chief Secretary to Government and others, Civil Appeal No. 2454 of 2007 with State of Tamil Nadu through the Secretary Public Works Department vs State of Karnataka by its Chief Secretary Government of Karnataka & Ors., Civil Appeal No. 2456 of 2007, http://supremecourtofindia.nic.in/supremecourt/2007/11993/11993_2007_Judgement_16-Feb-2018.pdf.
[16] Ministry of Water Resources, River Development and Ganga Rejuvenation Notification, June 1, 2018, http://mowr.gov.in/sites/default/files/CWMA_GazatteNotification.pdf.
[17] Composite Water Management Index 2018 – A Tool for Water Management, NITI Aayog, June 2018, http://www.niti.gov.in/writereaddata/files/document_publication/2018-05-18-Water-index-Report_vS6B.pdf.
[18] “Priority Sector Lending – Targets and Classification”, RBI/2017-18/203, Reserve Bank of India, June 19, 2018, https://rbi.org.in/Scripts/NotificationUser.aspx?Id=11308&Mode=0.
[19] “Master Direction - Priority Sector Lending – Targets and Classification (Updated as on April 16, 2018)”, RBI/FIDD/2016-17/33, Reserve Bank of India, July 7, 2016, https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10497.
[20] “Carpet Area of Houses Eligible for Subsidy Under CLSS for Middle Income Group (MIG) Increased to 160 Sq.M for MIG -I and 200 Sq.M for MIG-II”, Press Information Bureau, Ministry of Housing and Urban Affairs, June 12, 2018.
[21] “Constitution of Committee for Standardization and Indigenization in Metro Rail Systems”, Press Information Bureau, Ministry of Housing and Urban Affairs, June 26, 2018.
[22] “Shillong (Meghalaya) gets selected as the 100th Smart City”, Press Information Bureau, Ministry of Housing and Urban Affairs, June 20, 2018.
[23] “Chief Ministers Subgroup Constituted to Coordinate Policy Approaches for Agriculture and MGNREGS”, Press Information Bureau, NITI Aayog, June 19, 2018.
[24] “Cabinet approves 'Three Year Action Plan of Agricultural Education Division & ICAR Institutes”, Press Information Bureau, Ministry of Agriculture and Farmers Welfare, June 13, 2018.
[25] Discussion Paper on National Strategy for Artificial Intelligence, NITI Aayog, June 2018, http://www.niti.gov.in/writereaddata/files/document_publication/NationalStrategy-for-AI-Discussion-Paper.pdf.
[26] “Cabinet approves Continuation Programme for
Geosynchronous Satellite Launch Vehicle Mark-III”, Press Information Bureau, Cabinet, June 6, 2018
[27] “Cabinet approves Polar Satellite Launch Vehicle Mark-III
Continuation Programme – Phase 6”, Press Information Bureau, Cabinet, June 6, 2018.
[28] “Cabinet approves interventions to deal with the current crisis in the sugar sector”, Cabinet, Press Information Bureau, June 6, 2018.
[29] Environment (Protection) Amendment Rules, 2015, S.O. 3305 (E), Ministry of Environment, Forest and Climate Change, December 7, 2015, http://www.moef.gov.in/sites/default/files/Thermal%20plant%20gazette%20scan.pdf.
[30] “Mechanism for implementation of New Environmental Norms for Thermal Power Plants (TPP) supplying power to distribution licensees under concluded long term and medium term Power Purchase Agreement (PPA)”, Ministry of Power, May 30, 2018, https://powermin.nic.in/sites/default/files/webform/notices/Letter_dated_30th_May_2018_on_New_Environmental_Norms.pdf.
[31] “Long-term growth trajectory of Renewable Purchase Obligations (RPOs) for Solar and Non-Solar for a period of three years i.e., 2019-20 to 2021-22”, No.23/03/2016-R&R, Ministry of Power, June 14, 2018, https://powermin.nic.in/sites/default/files/webform/notices/RPO_trajectory_2019-22_Order_dated_14_June_2018.pdf.
[32] “Administrative Sanction – cum – Guidelines for implementation of the Central Sector Scheme, New National Biogas and Organic Manure Programme (NNBOMP) during the period 2017-18 to 2019-20, co-terminating with the 14th Finance Commission Period on 31.03.2020”, E-File No. 253/16/2017-Biogas, Ministry of New and Renewable Energy, May 30, 2018, https://mnre.gov.in/sites/default/files/schemes/New-National-Biogas-Organic-Manure-Programme%28NNBOMP%29-upto-2020-1.pdf.
[34] “Cabinet approves Mechanism for procurement of ethanol by Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme- Revision of ethanol price for supply to Public Sector OMCs”, Press Information Bureau, Cabinet Committee on Economic Affairs, June 27, 2018.
[35] “Cabinet approves extension of term of the Commission to examine the issue of sub-categorisation of Other Backward Classes”, Press Information Bureau Cabinet, June 13, 2018.
[36] “Cabinet approves setting up of a Commission to examine the Sub-Categorization within OBCs”, Press Information Bureau, Cabinet, August 23, 2017.
[37] “Notification: Extension of Digidhan Mission”, F.No.3(4)/2017-EG-II, Ministry of Electronics and Information Technology, May 25, 2018.
[38] “List of MoUs signed between India and Seychelles during the State Visit of President of Seychelles to India”, Ministry of External Affairs, June 25, 2018, http://www.mea.gov.in/incoming-visit-detail.htm?30014/List+of+MoUs+signed+between+India+and+Seychelles+during+the+State+Visit+of+President+of+Seychelles+to+India.
[39] “India-China Bilateral Agreements signed in Qingdao, China”, Ministry of External Affairs, June 9, 2018, http://www.mea.gov.in/outoging-visit-detail.htm?29966/IndiaChina+Bilateral+Agreements+signed+in+Qingdao+China.
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