India's First AC EMU in function

Introduction of India’s First Ever Broad Gauge Air-conditioned AC EMU (Suburban Train) of 12-car rake fitted with Indigenous 3-phase Propulsion system On Mumbai Suburban Section of W. Railway on 25th December 2017

Railways’ New Year Bonanza For The Nation Especially for Mumbaikars.

Introductory run is scheduled from Borivali station in Mumbai.

2 Coaches earmarked as Ladies Coaches, Certain seats are earmarked for Senior Citizens and Divyangs

RPF to be deployed in each coach to ensure safety.

Discount in the fare to be given during the introductory period of initial 06 months.

Missing the pulse: on policies for farmers

Missing the pulse: on policies for farmers

Farmers, like investors, need predictability and coherence in government policies .

A 30% customs duty has been slapped on the import of chana dal and masoor dal. 

The official reasoning is clear. Cheap imports could hit farm incomes especially at a time when domestic production of pulses is at a record high and a bumper rabi crop is expected. 

With an adequate domestic stockpile of pulses and with international prices remaining low for a prolonged period, the Centre fears that traders may still prefer to import some pulses rather than buy the fresh crop from local farmers at higher prices. 

There has been a significant upsurge in imports, in the range of 30% to 46%, in four out of the first six months of this financial year. 

Chana and masoor were the key contributors for India’s pulses imports rising to over $1.6 billion between April and September, compared to $1.2 billion in the same period last year. 

The value of chana imports in this period rose 373%, while masoor grew 204% year on year. In September, masoor imports shrank 56% in value terms while chana imports grew by a little over 200%. 

Disaggregated data for the last two months are not available, but overall pulses imports have cooled off since September, with total pulses imports shrinking nearly 30% in October and about 38% last month.

The mazor concern : 

In the case of a key protein source like pulses, import duties may be counterproductive going forward. 

Just last year, while prices were soaring in the Indian market, Prime Minister Narendra Modi signed a pact to double pulses imports from Mozambique. 

A bumper crop or two will not diminish the importance of such deals in harder times.

India has dal diplomacy interests with more than 40 other countries, for whom the latest move will be of concern, 

especially since there is already 10% import duty on toor dal and a hefty 50% duty was levied on yellow peas in November.

Way forward .

Farmers, like investors, need predictability and coherence in government policies.

 Just as a duty hike on electronic goods won’t directly prop up local manufacturing or curb their consumption, hiking import duties on one dal or another won’t make farmers better-off — though traders who accumulated cheaper imports will benefit.

 The government must devise better means to shore up farm incomes without stirring up inflation or upsetting carefully cultivated food security partnerships around the world.

Amendments to Companies Act

The Rajya Sabha has passed the Companies (Amendment) Bill, 2017. It was adopted by the Lok Sabha in July this year. The Bill provides for more than 40 amendments to the Companies Act, 2013.

Features of the Bill: 

The amendment seeks to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doing business in the country.
The major changes include simplification of the private placement process; rationalization of provisions related to loans to directors; replacing the requirement of approval of the central government for managerial remuneration above prescribed limits by approval through special resolution of shareholders and aligning disclosure requirements in the prospectus with the regulations made by Sebi (Securities and Exchange Board of India).
The Bill also provides for maintenance of register of significant beneficial owners and makes offence for contravention of provisions relating to deposits as non-compoundable.
It also provides for stringent penalties in case of non-filing of balance sheet and annual return every year, which will act as deterrent to shell companies. This would facilitate ease of doing business, and result in harmonization with Sebi, RBI (Reserve Bank of India) and rectify certain omissions and inconsistencies in the existing Act.