LIVE: Cabinet approves Rs 520-cr package for Jammu and Kashmir, Ladakh
Supreme Court will today hear a batch of petitions that have raised issues concerning the six-month moratorium on loan payments. Stay tuned for Latest LIVE news
 "Prakash Javadekar")
File photo of Union Minister Prakash Javadekar
Govt always open for discussion with farmers on new farm laws: Javadekar
The government is always open for discussion with farmers on new farm laws, union minister Prakash Javadekar said amid farmer bodies from Punjab boycotting a meeting, convened in the national capital, demanding minister-level talks.
About 29 organisations representing farmers boycotted the meeting, saying there was no minister present to hear their concerns. They protested outside Krishi Bhavan and tore copies of new farm laws.
India's public debt ratio to jump to 90 per cent because of Covid-19: IMF
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to Covid-19, the IMF said on Wednesday.
"In our projections, the increase in public spending, in response to Covid-19, and the fall in tax revenues and economic activity, will make public debt jump up by 17 percentage points to almost 90 per cent of GDP, Vitor Gaspar, Director of the IMF's Fiscal Affairs Department told PTI.
"Going forward it is projected to stabilise in 2021, before slowly declining up to the end of the projection period, in 2025. Broadly speaking the pattern of public debt in India is close to the norm around the world, he said.
Countries will need to rebuild fiscal buffers over the medium term to long term: IMF
The International Monetary Fund said on Wednesday that the governments around the world have responded to the COVID-19 pandemic with discretionary fiscal measures amounting to USD 11.7 trillion and now they will have to rebuild the fiscal buffers over the medium-term to long-term period.
Swift and decisive fiscal action was crucial to save lives, support vulnerable people and firms, and mitigate the economic contraction, said Vitor Gaspar, Director of the IMF's Fiscal Affairs Department.
But the sharp increase in primary deficits together with the deep fall in economic activity caused the global public debt to jump up to close to 100 per cent of GDP, in 2020.
"Going forward, over the medium-term, public debt is projected to stabilise, at a high level close to 100 per cent of GDP - up to 2025, Gasper told.
50 teams of CPCB to keep a check on polluting activities in Delhi-NCR: Govt
In order to step up efforts for ensuring better air quality in the upcoming winter season, strict vigil will be maintained against polluting activities in Delhi and neighbouring towns, the Ministry of Environment said on Wednesday.
Fifty teams of the Central Pollution Control Board (CPCB) will be deployed to make extensive field visits from October 15 this year till February 28 next year, it said.
In a statement, the Ministry of Environment said the teams will visit Delhi and NCR towns -- Noida, Ghaziabad, Meerut in Uttar Pradesh; Gurugram, Faridabad, Ballabgarh, Jhajjar, Panipat, Sonepat in Haryana; and Bhiwadi, Alwar, Bharatpur in Rajasthan.
These teams will specifically focus on hotspot areas where the problem is aggravated, it said.
Cabinet okays 'STARS' project to help states better education outcomes
The Cabinet on Wednesday approved a World Bank supported 'STARS' project that will support states in terms of education, said Union Information and Broadcasting Minister Prakash Javadekar.
This project will be implemented as a new centrally-sponsored scheme under the Department of School Education & Literacy, Ministry of Education. The 6 states that are covered are Himachal Pradesh, Rajasthan, Maharashtra, Madhya Pradesh, Kerala and Odisha.
The World Bank-supported programme is known as Strengthening Teaching-Learning and Results for States (STARS). The cost of this project is going to be Rs 5,718 crore with financial support of the World Bank amounting to $500 million, said the Centre.
Union Cabinet approves Rs 520-crore package under NRLM for J&K and Ladakh
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved a special package of Rs 520 crore for Jammu and Kashmir and Ladakh under the National Rural Livelihood Mission (NRLM), Union Minister Prakash Javadekar said.
Addressing a press conference, Javadekar said the package will ensure sufficient funds under the mission to both the Union Territories.
The decision is in line with Centre's aim to universalise all centrally sponsored beneficiary-oriented schemes in Jammu and Kashmir and Ladakh in a time-bound manner, he said.
Gross NPAs of banks may jump to 11.5% by end of FY21: Care Rating
The gross non-performing assets (NPAs) ratio of Indian banks is likely to be 11 to 11.5 per cent by end of current fiscal and they are likely to restructure 4 to 5 per cent of the overall bank credit outstanding, according to Care Rating.
Besides, the asset quality data post the COVID-19 lockdown is uncertain due to a developing regulatory scenario. Multiple stakeholder objectives and moratorium computation with various firms have varying ways of computing moratorium, said the rating agency.
The disruptions caused by coronavirus pandemic have further deteriorated the health of banking industry which was already reeling under severe stress for several years.
Delhi govt to frame policy for coaching institutes; lay down norms for fees
The Delhi government is in the process of formulating a policy for regulation of private coaching centres functioning in the capital and frame guidelines with respect to basic facilities, fee and safety measures, according to officials.
Noting that private coaching centres are running a parallel education system and are still out of the ambit of any regulation and running without any statutory compliances leading to serious hazards to students, the government has asked institutes with enrolment of more than 20 students to register themselves with the Directorate of Education (DoE).
The government also proposes to collect the data of such institutes and details of their infrastructure, land area, basic facilities, fee structure, safety standards etc.
39.43 lakh domestic air passengers in Sept, 66% lower than last year: DGCA
A total of 39.43 lakh domestic passengers travelled by air in September this year, 66 per cent lower than the corresponding period last year, the country's aviation regulator DGCA said on Wednesday.
As many as 21.07 lakh and 28.32 lakh people travelled by air domestically this July and August, respectively, the regulator had said last month.
While IndiGo carried 22.66 lakh passengers in September, a 57.5 per cent share of the total domestic market, SpiceJet flew 5.3 lakh passengers, which is 13.4 per cent share of the total market, according to data shared by the DGCA.
Supreme Court on loan moratorium case LIVE:
Taking action against all violators of pollution norms, be it PWD or MCDs: Gopal Rai
Environment Minister Gopal Rai on Wednesday said strict action is being taken against those flouting dust control norms, be it the Delhi government's Public Works Department or municipal corporations.
The minister said the issue of pollution is related to people's health and all agencies are equally responsible for its prevention and control.
"It doesn't matter which agency it is ... be it PWD or MCDs, all have to take measures to prevent dust pollution. Strict action is being taken against those not following the government's directions," he told reporters during the inspection of the Chandni Chowk Redevelopment Project site.
The minister had on Tuesday issued directions to impose a fine of Rs 20 lakh on North Delhi Municipal Corporation for violating dust control guidelines at Bhalswa landfill site.
Interest waiver case will take more time, says a TV report
Discussions on extending loan moratorium and accruing interest rates begin
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First Published: Oct 14 2020 | 6:26 AM IST
