Govt. may cut spend, raise NRI deposit rates to boost economy

June 24, 2012
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New Delhi, June 24: The steps to be announced on Monday by the government and the Reserve Bank of India may include raising the interest for deposits of Non-Resident Indians, cutting down wasteful expenditures and unveiling a bond issue for overseas investors to improve capital inflows in the wake of the rout in rupee.

Economic growth has fallen to a nine-year low of 6.5 per cent in 2011-12 and industrial output continues to be sluggish with a mere 0.1 per cent growth in April. Inflation too remained at an elevated level of 7.55 per cent in May 2012.

“Private investment in India is constrained by lack of availability of funds. Government might announce some measures for attracting investments and also steps to cut down wasteful expenditures,” said Y.K. Alagh, chairman, Institute of Rural Management.

Hit by a weak global sentiment and subdued local macroeconomic performance, the rupee has lost over 25 per cent in the last one year. It also breached the 57 level against the dollar on June 22, 2012.

Market analysts expect RBI to announce an increase in interest rates for NRI deposits. They also expect government to announce a bond issue to attract inflows.

“RBI may increase the interest rate on FCNR(B) deposit further and announce the issuance of bonds for Non-Resident Indians to address the issues in the short-term” Crisil Chief Economist D.K. Joshi said.

Experts also see steps being taken to reduce the twin deficits. CNI Research Head Kishor Ostwal said, “It might take steps to tame fiscal and current account deficits.”

Finance Minister Pranab Mukherjee had on Saturday announced that the government and the RBI would take steps to arrest the declining rupee and improve market conditions.

“The steps we have taken... And we will be able to take certain measures to be announced on Monday which will improve market condition,” he had said.

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Agencies
May 1,2020

New Delhi, May 1: Amid the lockdown due to the COVID-19 pandemic, the University Grants Commission (UGC) and the Human Resource Development Ministry are planning to conduct the PhD and MPhil exams through online mediums in various universities across the country. The universities have been informed by the UGC and the MHRD about this.

Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' said, "Phd, MPhil exams, practicals, viva etc can be conducted through Skype or any other meeting apps."

When this system is implemented in colleges, students will not have to wait long for various types of examinations. Especially internal examinations can be taken online. Students' viva tests can also be conducted via Skype or any other similar meeting apps.

Regular classes in the universities will resume after the lockdown is removed. The classes for the first year will start from September 1 while for the second and third years the classes will start from August 1. However, students of various colleges will have to appear for basic exams in July.

A special committee constituted by the UGC has emphasized on conducting examinations online. The committee in its recommendation said that various colleges and universities should conduct online examinations including internal exams of colleges for 25 per cent marks.

The National Testing Agency (NTA), on the advice of the Ministry of Human Resource Development, has extended the date of filling the entrance examination forms for various universities.

According to the orders of the NTA, the date of filling the form for the entrance examinations of Jawaharlal Nehru University, National Council for Hotel Management 'G' and for Phd and MBA from IGNOU has been extended till May 15.

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News Network
January 18,2020

New Delhi, Jan 18: The Supreme Court Friday refused to entertain a PIL seeking conferment of 'Bharat Ratna' on Mahatma Gandhi saying that people hold the father of the nation in “high esteem”, beyond any formal recognition.

A bench, comprising Chief Justice S A Bobde and justices B R Gavai and Surya Kant, however asked petitioner Anil Dutta Sharma to give representation to the central government in this regard.

“Mahatma Gandhi is the father of nation and people hold him in high esteem, beyond any formal recognition,” the bench said.

The issue of directing the government to award Bharat Ratna to the father of the nation was not a “justiciable issue”, it said.

The bench however said that it agreed with the sentiments of the petitioner for granting official decoration to Mahatma Gandhi.

Disposing of the petition, the top court said, “We will allow you to give a representation to the Centre in this regard.”

Sharma, in his PIL, had sought a direction to the government to give “official decoration” to Mahatma Gandhi to honour him for the contribution to the nation.

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News Network
May 18,2020

May 18: The Central Board of Secondary Education (CBSE) on Monday announced the date sheet for the pending class 10 and 12 board exams, which will now be held from July 1 to 15.

The exams were postponed due to the nationwide lockdown imposed on March 25 to contain the spread of COVID-19.

The Class 10 board exams are pending only in the North East Delhi.

"The Class 10 exams will be staggered on four dates, starting July 1. The first paper will be Social Science, while the next day students will be required to appear for the Science exam,” said Sanyam Bhardwaj, the Controller of Examination, CBSE.

“On July 10, exams will be conducted for both courses of Hindi and on July 15 for both courses of English," he said.

On health guidelines for students, Bhardwaj said that they will be required to carry their own sanitiser bottles and wear masks to examination centres.

"Parents will have to ensure that their ward is not sick and candidates will have to strictly follow physical-distancing norms," he said.

For Class 12, the Home Science exam will be held on July 1, followed by both courses of Hindi the next day.

The Class 12 Business Studies exam has been scheduled for July 9, followed by Biotechnology on July 10 and Geography on July 11.

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