07-01-2017

the hindu
1.GDP growth expected to be slower at 7.1% this year.

Note ban impact to be factored into Feb. 28 estimate report

India’s gross domestic output is expected to grow at a slower pace of 7.1 per cent in 2016-17 compared to the 7.6 per cent clocked in the previous year, Chief Statistician TCA Anant said on Friday.

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2.SC stays order allowing seizure of roosters.

In a big relief for rural Andhra Pradesh and Tamil Nadu before the Pongal/Sankranti festivities, the Supreme Court on Friday stayed an Andhra Pradesh High Court order allowing joint teams of police and district administration to barge into any premises and seize roosters primed for traditional fights. The fights are conducted by farmers as part of the Pongal/Sankranti celebrations.  read more

3.When banks are awash with cash.

n an environment characterised by slowing growth, poor investor sentiment and NPA-strapped banks, the government has its task cut out. When private investment is skittish, public investment must step in

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4.Clamping down on ordinance raj.

Both superior courts and constitutional functionaries have routinely deprecated the propensity of governments to take the ordinance route for mere political expediency. The temptation to use the power vested in the President and the Governors under Articles 123 and 213 of the Constitution is generally a result of one of the following three reasons: reluctance to face the legislature on particular issues,  read more

5.Aadhaar now mandatory for EPF pension scheme.

The Centre gives Rs 850 crore every year on a tapering basis as annual budgetary support towards the pension scheme.

The Centre has made obtaining an Aadhaar number mandatory for 2.5 crore members of the Employees’ Pension Scheme of 1995, one of the benefits available to Employees’ Provident Fund subscribers.

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6.Centre plans to amend Plantation Labour Act.

The Centre is planning to amend the Plantation Labour Act (PLA), 1951 in a major way to exclude ‘in –kind’ components being regarded as wages.  read more

tio
1.GDP growth to drop to 7.1% in FY17: Govt

The economy will grow at a slower pace of 7.1% this fiscal, as against 7.6% last year, mainly due to poor showing by manufacturing, mining and construction sectors, government data showed on Friday without factoring in the demonetisation impact. read more

2.Govt may rationalise MAT in Budget 2017

A slight cut in corporate tax rates appears imminent in the forthcoming Budget 2017. However, what attains more significance is the possibility of a reduction in Minimum Alternate Tax (MAT) rates, which have increased over the past few years even as corporate tax rates have remained static ( see table ).  read more

3.Credit to small, micro units dips in Nov
Retail, Agriculture Were The Only Bright Spots In Credit Off-take, Retail Credit Jumped 15.2%, Agri Increased 10.3%
Industrial credit slowed across sub-sectors in November, with loans to micro, small and medium enterprises reporting the biggest fall. Credit growth to the services sector slowed down on a month-on-month (m-o-m) basis but performed relatively better than industries.

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1.Kick-Starting the debate on Secularism.

It appears that one of the big issues in the five state poll exercise beginning February 4 for which the Election Commission raised the curtain on the first Wednesday of the new year, would be what is communal and what is secular. And accordingly, who will qualify (or condemned depending on which side of the fence you are on) to be declared “corrupt” under our election laws. read more

2.Climate change may trigger rise in Sea level

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