Ø President Pranab Mukherjee signed two key
ordinances to raise the cap on foreign direct investment in the insurance sector and facilitate e-auction of coal blocks, amid
protest from a National Democratic Alliance member, Shiv Sena, a former ally,
MDMK, and the DMK. The Coal Mines (Special Provisions) Bill, 2014, was passed
by the Lok Sabha, but could not be taken up for discussion in the Rajya Sabha,
pushing the government to recommend a re-promulgation of the coal ordinance.
The decision on taking the ordinance route was taken by the Union Cabinet,
chaired by Prime Minister Narendra Modi.
Ø Local Self-Government Institutions (LSGIs) are
reportedly heading for yet another financial crisis as they will be deprived of
around Rs.312 crore under the Special Component Plan and Tribal Sub-Plan
(SCP/TSP) in the next financial year.
Ø Prime Minister Narendra Modi-led Appointments
Committee of the Cabinet (ACC) effected yet another round of postings of
bureaucrats, approving appointments at senior positions.
Ø Union Minister for Science and Technology and
Earth Sciences Harsh Vardhan has said that the Indian National Centre for Ocean
Information Services (INCOIS) will soon extend its GIS-based 3D protocol on
tsunami warning to all vulnerable areas in the country with new methodologies
and improved warning procedures.
Ø With flood damage in the country pegged in the
range of Rs. 6,000 crore a year, according to official estimates, India is
poised to adopt a World Bank-funded hydrology project. Such a project has
already made a difference in 13 States which opted for it in the earlier two
phases. Under the proposed expansion of the project, States will be able to
generate and digitise their own data without waiting for central help. The
project for the whole country is estimated to cost Rs. 3,000 crore.
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