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Insights PT 2017 Schemes PDF
Insights PT 2017 Schemes PDF
Insights PT 2017 Schemes PDF
PT 2017 Exclusive
Economy
June 2016 March 2017
WWW.INSIGHTSONINDIA.COM
Insights PT 2017 Exclusive
Table of Contents
A. Schemes / Government Initiatives
1. Tejaswini Project....................6
2. Insolvency and Bankruptcy Code (IBC), 2016...............6
3. National Investment and Infrastructure Fund (NIIF) ......................6
4. Hydrocarbon Exploration and Licensing Policy (HELP) ...................6
5. Electoral Bonds.....................6
6. Border haats (Border Markets) ................7
7. Sovereign Gold Bond Scheme (SGBs) ..........7
8. BHIM (Bharat Interface for Money) .........7
9. Unified Payments Interface (UPI) ............7
10. Sagarmala Programme...........................8
11. Interest Subvention Scheme for farmers for the year 2016-17.....8
12. Mission Indradhanush............................8
13. special economic zone (SEZ) ..................9
14. Diamond Quadrilateral..........................9
15. Transparency in Power Sector...............9
16. DigiLocker...........................9
17. Standards & Labelling Programme..........10
18. DBT in kerosene.................10
19. National Mineral Exploration Policy (NMEP)...........10
20. Benami Transactions (Prohibition) Amendment Act, 2016.........11
21. Permanent Residency Status (PRS) to foreign investors.............11
22. National Mission on Bio Economy...........................11
23. Public Debt Management Cell (PDMC) ...................12
24. Lucky Grahak Yojana and Digi Dhan Vyapar Yojana...................12
25. North East Industrial and Investment Promotion Policy (NEIIP) ...................12
26. India INX............................12
27. Modified Special Incentive Package Scheme (M-SIPS) ...............13
28. Electronics Development Fund (EDF).......................13
29. Demonetisation in India.......................13
30. Amended Technology Upgradation Fund Scheme (ATUFS).........14
31. Trade Infrastructure for Export Scheme (TIES).........14
32. Mission Fingerling.................................14
33. Indias largest Floating Solar PV Plant......................14
34. Bharat QR code..................15
35. Revenue Insurance Scheme for Plantation Crops (RISPC) ..........15
36. Operation Clean Money (Swachh Dhan Abhiyan) ......................15
37. Rashtriya Rail Sanraksha Kosh.................................16
38. Mission 41K.......................16
39. Coal Mitra.........................16
40. DigiShala...........................16
C. Banking Sector
1. Small Finance Banks.............22
2. Green Bonds........................22
3. Stressed Asset Fund.............22
4. Export-Import Bank of India (Exim Bank) ..................23
5. Banks Board Bureau (BBB) .....................23
6. Payments banks...................23
7. Masala bonds......................24
8. Merger of State Bank of India (SBI) ..........24
9. Non Performing Asset (NPA) .................25
D. External Sector
1. Advance Pricing Agreements (APAs) ........................27
2. Foreign Currency Non-Resident (FCNR) deposits............27
3. Trade Facilitation Agreement (TFA) ..........................27
4. Participatory Notes (P-Notes) ................27
5. Multilateral Convention on Mutual Administrative Assistance in Tax Matters...................28
6. Bilateral Investment Treaty.....................28
7. Society for Worldwide Interbank Financial Telecommunication (SWIFT) ........28
8. Double Taxation Avoidance Agreement (DTAA) ........29
9. Money laundering................29
10. Anti-Dumping Duty...............................29
11. Countervailing duties (CVDs) ................30
12. Safeguard Duty...................30
13. South Asia Training and Technical Assistance Centre (SARTTAC) ...................30
14. International Chambers of Commerce (ICC) ............30
15. Permanent Court of Arbitration (PCA) .....................31
16. BRICS Rating Agency.............................31
17. External Commercial Borrowings (ECBs) .................31
18. Comprehensive Economic and Trade Agreement (CETA) ............31
19. Market Economy Status (MES) .............32
20. Base Erosion and Profit Shifting (BEPS) ...................32
21. Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA)..........32
22. Oxfam Study......................32
23. Foreign Investment Promotion Board (FIPB) ...........33
24. Investor-State Dispute Settlement (ISDS) mechanism................33
F. Departments / Agencies
1. Common Services Centres (CSCs) ...........42
2. Food Safety and Standards Authority of India (FSSAI) .................42
3. Directorate of Revenue Intelligence..........................42
4. Happiness Department..........................42
5. Central Board of Direct Taxes................42
6. National Informatics Centre (NIC) ............43
7. Financial Stability and Development Council (FSDC) ...................43
8. Serious Fraud Investigation Office (SFIO) ....................43
9. Financial Intelligence Unit......................43
10. Monetary Policy Committee................44
11. Export Credit Guarantee Corporation of India Ltd (ECGC) .........44
12. National Pharmaceutical Pricing Authority (NPPA) ...................44
13. Antrix Corporation............44
14. National Committee on Trade Facilitation (NCTF) .....................45
15. Competition Commission of India (CCI) ..................45
16. National Industrial Corridor Development & Implementation Trust (NICDIT) .................45
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17. Cell for IPR Promotion and Management (CIPAM) ....................45
18. CERT-In (Indian Computer Emergency Response Team) ............45
19. National Payments Corporation of India (NPCI) ........46
20. General Insurance Corporation of India (GIC) .........46
21. International Financial Services Centre (IFSC) .........46
22. Agricultural and Processed Food Products Export Development Authority (APEDA) .......46
23. Central Water Commission (CWC) ..........................46
24. Central Board of Excise and Custom (CBEC) ............47
25. Securities and Exchange Board of India (SEBI) ........47
G. Miscellaneous
1. Enayam Indias 13th Port....................48
2. Insurance Policy to Atomic Power Plant Operator.......................48
3. Ponzi schemes....................48
4. Diamond Quadrilateral..........................48
5. Skimming............................48
6. Social engineering attack.......................49
7. Launchpad..........................49
8. Algorithmic trading.............49
9. FOIN 2017...........................49
10. 100 million for 100 million..................49
11. Akodara becomes Indias first Digital Village.............................49
12. Geographical Indication (GI) ...............50
Objective
Infrastructure development in commercially viable projects, both Greenfield and
Brownfield, including stalled projects.
To attract investment from both domestic and international sources.
It would serve as an umbrella fund with several funds underneath it.
5. Electoral Bonds
Introduced by Finance Minister during his Budget 2017 speech in order to bring some
transparency to the electoral funding process.
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12.Mission Indradhanush
Mission Indradhanush
aimed to revamp the
functioning of public
sector banks so that PSBs
can compete with the
Private Sector Banks.
The mission is a brainchild
of PJ Nayak committee.
It is launched by Ministry
of Finance under the
Department of Financial
Services.
The mission includes the
seven key reforms of
appointments, board of
bureau, capitalisation, de-stressing, empowerment, framework of accountability and
governance reforms.
It aims to clean up the balance sheets of PSBs to ensure banks remain solvent and
14.Diamond Quadrilateral
The Diamond Quadrilateral is a project of the Indian railways to establish high speed
rail network in India.
This quadrilateral will connect the four metro cities in India, i.e. Delhi, Mumbai,
Kolkata and Chennai.
Six corridors identified are:
o (i) Delhi-Mumbai, (ii) Mumbai-Chennai, (iii) Chennai-Kolkata, (iv) Kolkata-
Delhi and both diagonals i.e. (v) Delhi-Chennai and (vi) Mumbai-Kolkata
routes.
This project is similar to Golden Quadrilateral which is a roadway project which
connects the four metros by Express Ways.
The Golden Quadrilateral falls under National Highways Development Project.
16.DigiLocker
It is dedicated personal storage space, linked to each residents Aadhaar number.
DigiLocker can be used to securely store e-documents as well as store Uniform
Resource Identifier (URI) link of e-documents issued by various issuer departments.
The e-Sign facility provided as part of DigiLocker system can be used to digitally sign
e-documents.
DigiLocker is one of the key initiatives under the Digital India Programme.
The initiative was launched by the Department of Electronics and Information
Technology, under the Ministry of Communications and IT.
To encourage mineral exploration in the country, the mines ministry has already NOTES
notified the National Mineral Exploration Trust.
On the lines of UNCOVER project of Australia, the government intends to launch a
special initiative to probe deep-seated/ concealed minerals deposits in the country.
26.India INX
Prime Minister Narendra Modi inaugurated Indias first international exchange
India INX at the International Financial Service Centre (IFSC) of GIFT (Gujarat
International Financial Tech) City Gandhinagar, Gujarat.
India INX is a wholly-owned subsidiary of the Bombay Stock Exchange (BSE). It will
enable Indian firms to compete on equal footing with offshore firms.
It will facilitate international investors and NRIs to trade from anywhere in the
world.
It will provide benefits in terms of waiver of security transaction tax, commodity
transaction tax, dividend distribution tax, long term capital gain tax and income tax.
29.Demonetisation in India
It is an act of stripping a currency unit of its status as legal tender.
The Union Government had announced that Rs. 500, Rs. 1,000 notes will cease to be
legal tender.
The first demonetization in the independent India was done in the year 1946 and
another one in the year 1978.
The legal basis for the order demonetizing currency can be found in Section 26 of
the Reserve Bank of India Act, 1934.
Under sub-section (2) of this Section, the Union Government is given the power to
declare that any notes issue by the Reserve Bank will no longer be legal tender.
Implications:
Money supply was reduced in the short run until the new notes got widely
circulated in the market.
Real Estate and Property: The level of prices in this sector is expected to fall
significantly as major part of the transaction is cash based.
This move will increase the amount of money deposited in Savings and Current NOTES
Account of commercial banks.
Surge in the online transactions and other modes of payment.
32.Mission Fingerling
The Union Ministry of Agriculture has launched Mission Fingerling, a programme to
enable holistic development and management of fisheries sector in India.
The mission aims to achieve the target to enhance fisheries production from 10.79
mmt (2014-15) to 15 mmt by 2020-21 under the Blue Revolution.
Government has identified 20 States based on their potential and other relevant
factors to strengthen the Fish Fingerling production and Fish Seed infrastructure in
the country.
34.Bharat QR code
The Union Government has launched Bharat QR code,
a quick response (QR) code to enable digital
payments without card swiping machines.
It is worlds first interoperable payment acceptance
solution launched by Indian Government to move
towards less-cash economy.
Bharat QR code has been developed by jointly by
National Payments Corporation of India (NPCI), Visa,
MasterCard and American Express under instructions from Reserve Bank of India
(RBI).
It works as common interface for the MasterCard/Visa/RuPay platforms and also
facilitate acceptance of Aadhaar-enabled payments and Unified Payments Interface
(UPI).
QR code:
o QR code (Quick Response code) is a two-dimensional (matrix) machine-
readable bar code made up of black and white square. This code can be read
by the camera of a smartphone.
o It is used for storing URLs or other information that link directly to text,
emails websites phone numbers. It is capable of 360 degrees (omni-
directional), high speed reading.
o QR Code can store up to 7089 digits as compared to conventional bar codes
which can store max 20 digits. It encodes same amount of data in one-tenth
the space of a traditional bar code.
o It carries information both horizontally and vertically. It has error
correction capability and data stored in it can be restored even if it is
partially damaged or dirty.
The Income Tax Department (ITD) launched Operation Clean Money (Swachh Dhan NOTES
Abhiyan), an e-platform to analyse large cash deposits made during the
demonetisation window (9 November to 30 December 2016).
Under it, e-verification of large cash has been done using data analytics for
comparing the demonetisation data with information in ITD databases.
38.Mission 41K
Union Railway Ministry has unveiled Mission 41K to save Rs. 41,000 crore on the
Indian Railways expenditure on energy consumption over the next 10 years.
This target of Mission 41K will be achieved by taking a slew of measures which
include moving 90% of traffic to electric traction over diesel from present 50% of
the total rail traffic.
The railways will also procure more and more electricity at cheaper rates through
open market instead of sourcing it through DISCOMs.
The Electrification Mission will help Indian Railways to reduce dependence on
imported fuel, change energy mix, and rationalize the cost of energy for Railways.
39.Coal Mitra
The Union Ministry of Coal has launched Coal Mitra, a web portal for allowing
flexibility in utilization of domestic Coal.
The Coal Mitra Web Portal aims at optimum utilisation by private as well as public
power companies of the coal.
It facilitates transfer of the coal reserves to more cost efficient State/Centre owned
or Private sector generating stations.
The portal allows coal swapping between PSUs and the Private Sector in
transparent manner and also helps to reduce operational and logistic costs, bringing
power tariffs down for the consumers.
40.DigiShala
The Union Ministry of Electronics and Information Technology (MeitY) has
launched a TV channel named DigiShala to promote cashless transactions.
The channel was launched as part of the Digidhan campaign which aims to spread
awareness about digital transactions.
DigiShala is dedicated 24*7 and 365 days free-to-air TV channel to inform citizens
about digital payment ecosystem, benefits and processes.
It is a satellite channel managed by Doordarshan (DD). It will be broadcasted
nationally on DD Free Dish DTH service.
The services on the channel initially will be available in Hindi and English and later in
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local languages as well. NOTES
It is not mandatory for the service provider and direct-to-home (DTH) airing it and
customers may opt for it.
2. FDI Inflows
According to data released by Department of Industrial Policy & Promotion (DIPP),
India attracted $ 46 billion in 2016 which is 18% higher compared to previous year.
Highest FDI included Services, Telecom, Trading, Computer Hardware and
Software.
Bulk of the FDI came from Singapore, followed by Mauritius.
5. Fat Tax
A fat tax is a tax or surcharge that is placed upon fattening food and beverages.
Kerala is the first state in India to introduce a 14.5% fat tax on pizzas, burgers,
sandwiches and tacos sold through branded outlets.
This is in sync with the World Health Organizations advocacy of using fiscal tools to
promote healthy eating.
GAAR seeks to prevent companies from routing transactions through other NOTES
countries to avoid taxes.
GAAR is set of rules under the Income Tax Act (under the proposed Direct Tax
Code).
It contains provision allowing the government to retroactively tax overseas deals
involving local assets.
It empowers officials to deny the tax benefits on transactions or arrangements which
do not have any commercial substance or consideration other than achieving tax
benefit.
It could also be used by the government to target participatory notes (P-Notes).
GAAR seeks to give the IT department powers to scrutinize transactions structured
in such a way as to deliberately avoid paying tax in India.
It will not be invoked in cases where investments are routed through tax treaties
that have a sufficient limitation of benefit (LOB) clause to address tax avoidance.
GAAR will not apply on foreign portfolio investor if its jurisdiction is based on non-
tax commercial considerations and the main purpose is not to obtain tax benefits.
The Parthasarathy Shome panel was formed in 2012, for drawing up the final
guidelines on GAAR and mainly to bring about tax clarity and address the concerns
of foreign investors.
India will be the 17th nation in the world to have laws that aim to close tax
loopholes.
At present, GAAR is in force in nations like Australia, Singapore, China and the UK.
10.Strategic Disinvestment
In Strategic disinvestment the management control and a significant proportion of
a PSUs share goes to a private sector strategic partner.
Strategic disinvestment of a PSU is different from the ordinary disinvestment in
which management of PSU is retained with Government.
For example, in a PSU, where the government holding 51%, and out of this, sale of
25% to the strategic partner while the government holding 26% share also is a case
of strategic sale. Here, the remaining shares (49%) will be dispersed among the
public.
2. Green Bonds
A green bond is a fixed income instrument for the purpose of raising debt capital
through markets.
Certifies that the proceeds will be used exclusively for specific green purposes.
Can provide a long-term source of debt capital for renewable infrastructure
projects.
Green bonds are issued by multilateral agencies such as the World Bank,
corporations, government agencies and municipalities.
Institutional investors and pension funds also have appetite for such bonds.
Axis Bank has launched Indias first internationally-listed certified green bond to
finance climate change solutions around the world at London Stock Exchange (LSE).
When banks are not willing to lend more to the promoters of stressed companies or NOTES
when the promoters are not in a position to infuse extra capital, then stressed funds
will, after weighing the pros and cons, decide to invest in the bad debt of these
companies
By selling bad loans, banks can strike them off their books and it frees up more
capital that they could lend.
If the debt-ridden company manages to turn around, the once-distressed debt will
be selling for a considerably higher price. The stressed asset funds will gain hugely
from it.
Both corporate and retail debts are sold by banks.
6. Payments banks
The Committee on Comprehensive Financial Services for Small Businesses and
Low Income Households was set up by the RBI in Sep 2013 under the chairmanship
of Nachiket Mor recommended creation of Payment Banks.
Payment banks are non-full service banks, whose main objective is to accelerate
financial inclusion.
The telecom companies, retailers, mobile wallet providers, large business houses NOTES
and several others are the main applicants for payment banks.
Capital requirement: The minimum paid-up equity capital for payments banks is Rs.
100 crore.
Leverage ratio: The payments bank should have a leverage ratio of not less than 3%,
i.e., its outside liabilities should not exceed 33.33 times its net worth (paid-up capital
and reserves).
Promoters contribution: The promoters minimum initial contribution to the paid-
up equity capital of such payments bank shall at least be 40% for the first five years
from the commencement of its business.
Foreign shareholding: The foreign shareholding in the payments bank would be as
per the Foreign Direct Investment (FDI) policy for private sector banks as amended
from time to time.
Cash Reserve Ratio (CRR): Cash Reserve Ratio (CRR) with the Reserve Bank on its
outside demand and time liabilities.
Statutory Liquidity Ratio (SLR): Invest minimum 75% of its demand deposit
balances in Statutory Liquidity Ratio (SLR) eligible Government securities/treasury
bills with maturity up to one year and hold maximum 25% in current and time/fixed
deposits with other scheduled commercial banks for operational purposes and
liquidity management.
Airtel launches India's first payments bank.
India Post Payments Bank is the third entity to receive payments bank permit after
Airtel and Paytm.
Activities of Payment Banks:
Payments banks will mainly deal in remittance services and accept deposits of up to
Rs 1 lakh.
They will not lend to customers and will have to deploy their funds in government
papers and bank deposits.
They can accept demand deposits.
They can issue ATM/debit cards but not credit cards.
Distribution of non-risk sharing simple financial products like mutual fund units and
insurance products, etc. is allowed.
7. Masala bonds
The Masala bond refers to a rupee-denominated bond through which Indian entities
(private and public sector) can raise money from foreign markets in rupee, and not
in foreign currency.
By issuing bonds in rupees, an Indian entity is protected against the risk of currency
fluctuation, typically associated with borrowing in foreign currency.
Masala bonds also help in internationalization of the rupee and in expansion of the
Indian bond markets.
These bonds are usually traded on the London Stock Exchange (LSE) and not in
India.
The Housing Development Finance Corporation (HDFC) has become the first Indian
company to issue rupee-denominated bonds masala bonds on London Stock
Exchange (LSE).
Canadas British Columbia province has become the first foreign government to
issue of masala bonds.
The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the NOTES
merger of State Bank of India (SBI) with five of its associate/subsidiary banks.
These five subsidiary banks are State Bank of Bikaner and Jaipur, State Bank of
Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of
Travancore.
It is in pursuance of the Indradhanush action plan of the Central Government.
9. Money laundering
Money laundering is the process by which large amounts of illegally obtained money
is given the appearance of having originated from a legitimate source.
What does Enforcement Directorate do?
o Directorate of Enforcement is a specialized financial investigation agency
under the Department of Revenue, Ministry of Finance, Government of
India, which enforces the following laws:
o Foreign Exchange Management Act,1999 (FEMA) A Civil Law, with officers
empowered to conduct investigations into suspected contraventions of the
Foreign Exchange Laws and Regulations, adjudicate, contraventions, and
impose penalties on those adjudged to have contravened the law.
o Prevention of Money Laundering Act, 2002 (PMLA) A Criminal Law, with
the officers empowered to conduct investigations to trace assets derived out
of the proceeds of crime, to provisionally attach/ confiscate the same, and
to arrest and prosecute the offenders found to be involved in Money
Laundering.
The Prevention of Money Laundering (PMLA) was enacted in 2002, but was
amended thrice, first in 2005, then in 2009 and then 2012.
The Act impose obligation on banking companies, financial institutions and
intermediaries to verify identity of clients, maintain records and furnish information.
10.Anti-Dumping Duty
Anti-Dumping Duty is a trade levy imposed by any government on imported
products which have prices less than their fair normal values in their domestic
market.
Anti-Dumping Duty is imposed under the multilateral World Trade Organisation
(WTO) regime and varies from product to product and from country to country.
It varies from product to product and from country to country.
In India, anti-dumping duty is recommended by the Union Ministry of Commerce
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(i.e. by Directorate General of Anti-dumping & Allied Duties (DGAD)), while the NOTES
Union Finance Ministry imposes it.
So far, India has initiated maximum anti-dumping cases against below-cost
imports from China.
Issue:
o The Indian Steel Association (ISA) has asked the Central Government not to
impose any anti-dumping duty on Metallurgical Coke (met coke).
o A levy of anti-dumping duty on met coke will have a cost-push effect on the
steel sector. It will fuel further the cost of steel making, resulting in an
increase in the cost of finished steel.
o The Union Government has extended anti-dumping duty on import of
certain Chinese products, used in garment, toys and footwear
manufacturing.
12.Safeguard Duty
The safeguard duty is tariff barrier imposed by government on the commodities to
ensure that imports in excessive quantities do not harm the domestic industry.
It is mainly temporary measure undertaken by government in defence of the
domestic industry which is harmed or has potential threat getting hared due to
sudden cheap surge in imports.
The chief executive of Bharti Group, Sunil Bharti Mittal has been elected chairman NOTES
of the International Chambers of Commerce (ICC).
It removes customs duties, open-up the services market and end restrictions on NOTES
access to public contracts.
22.Oxfam Study
According to study conducted by rights group Oxfam, Indias richest 1% now hold a
huge 58% of the countrys total wealth, indicating rise income inequality. It is higher
than the global figure of about 50%.
Oxfam Internationals global inequality report.
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In 1984, LK Jha committee also recommended the change to 1st Jan to 31st Dec. NOTES
It has three pillars: Growth and Development, Inclusion and Intergenerational NOTES
Equity, and Sustainability in order to provide a more complete measure of
economic development than GDP growth alone.
4. Happiness Department
Madhya Pradesh has become the first state in the country to set up Happiness
Department.
Bhutan, the first country to come up with the concept of Gross National Happiness.
The World Happiness Report 2016 by the UN ranks India at 118th among 156
countries.
It is responsible for administration of the direct tax laws through Income Tax NOTES
Department.
It is Indias official Financial Action Task Force unit.
The CBDT Chairman and Members of CBDT are selected from Indian Revenue Service
(IRS).
The Central Board of Direct Taxes (CBDT) has entered into several Advance Pricing
Agreements (APAs).
3. Ponzi schemes
A Ponzi can be any scheme in which the returns to promised to older investors are
paid from the money collected from new investors, and not actual profits from the
investments.
Ponzi schemes are banned under the Prize Chit and Money Circulation (Banning)
Act, 1978 and the State government concerned is the enforcement agency.
Though it is a Central Act, the respective State governments are the enforcement
agency of this law.
Ponzi schemes do not fall under the regulatory purview of SEBI.
The Union Government has issued model guidelines for states titled the Direct
Selling Guidelines 2016 framework to regulate direct selling and multi-level
marketing businesses to protect consumers from Ponzi frauds.
4. Diamond Quadrilateral
The Diamond Quadrilateral is a project of the Indian railways to establish high speed
rail network in India.
This quadrilateral will connect the four metro cities in India, i.e. Delhi, Mumbai,
Kolkata and Chennai.
Six corridors identified are:
o (i)Delhi-Mumbai, (ii) Mumbai-Chennai, (iii) Chennai-Kolkata, (iv) Kolkata-
Delhi and both diagonals i.e. (v) Delhi-Chennai and (vi) Mumbai-Kolkata
routes.
This project is similar to Golden Quadrilateral which is a roadway project which
connects the four metros by Express Ways.
The Golden Quadrilateral falls under National Highways Development Project.
5. Skimming
An electronic method of capturing a victims personal information used by identity
thieves.
The skimmer is a small device that scans a credit card and stores the information
7. Launchpad
E-commerce giant Amazon has launched its global start-ups program Launchpad in
India.
The program will enable Indian startups to sell their products overseas.
In this regard, Amazon India has tied up with Department of Industrial Policy and
Promotion (DIPP)s Start-up India and NASSCOM.
8. Algorithmic trading
Algorithmic trading in financial markets refers to transaction orders generated by
using advanced mathematical models that involves automated execution of trade.
It uses mathematical models and software codes to make transaction decisions on
exchanges and execute them at high speed.
This technology-driven trading enables traders to take advantage of any profit
making opportunities arising in the market much before a human trader can even
spot them.
At present, on the National Stock Exchange (NSE), algorithm trades accounts close to
16% of all trades. On the Bombay Stock Exchange (BSE), it was 8.56% in January
2017.
The Securities and Exchange Board of India (SEBI) is planning to further tighten the
regulations for algorithmic trading to minimise instances of misuse of such systems.
9. FOIN 2017
The Festival of Innovation (FOIN) is a unique initiative of the Office of the President
of India.
FOIN has become a national celebration of creativity and innovation at and for
grassroots.
FOIN will provide a window to innovative solutions for social development through
student ideas and other technologies for agriculture, rural development, sanitation,
health, women and child development, biotechnology and medical innovation.
Raksha coach with a corpus of Rs. 1 lakh crore for five years (for passenger safety). NOTES
Unmanned level crossings will be eliminated by 2020.
3,500 km of railway lines to be commissioned this year up from 2,800 km last year.
SMS-based ''clean my coach service'' is put in place.
Coach mitra facility will be introduced to register all coach related complaints.
By 2019 all trains will have bio-toilets.
Five-hundred stations will be made differently-abled friendly.
Rs. 64,000 crore allocated for highways.
High speed Internet to be allocated to 1,50,000 gram panchayats.
New Metro rail policy will be announced with new modes of financing.
Energy sector
A strategic policy for crude reserves will be set up.
Rs. 1.26,000 crore received as energy production based investments.
Trade infra export scheme will be launched 2017-18.
Financial sector
FDI policy reforms - more than 90% of FDI inflows are now automated.
Shares of Railway PSE like IRCTC will be listed on stock exchanges.
Foreign Investment Promotion Board will be abolished.
Computer emergency response team for financial sector will be formed.
Pradhan Mantri Mudra Yojana lending target fixed at Rs 2.44 lakh crore for 2017-18.
Digital India - BHIM app will unleash mobile phone revolution. The government will
introduce two schemes to promote BHIM App - referral bonus for the users and cash
back for the traders.
Negotiable Instruments Act might be amended.
DBT to LPG consumers, Chandigarh is kerosene-free, 84 government schemes are on
the DBT platform.
Head post office as the central office for rendering passport service.
Easy online booking system for Army and other defence personnel.
Fiscal situation
Total expenditure is Rs. 21, 47,000 crore.
Plan, non-plan expenditure is abolished; focus will be on capital expenditure, which
will be 25.4 %.
Expenditure for science and technology is Rs. 37,435 crore.
Total resources transferred to States and Union Territories is Rs 4.11 lakh crore.
Recommended 3% fiscal deficit for three years with a deviation of 0.5% of the GDP.
Revenue deficit is 1.9 %
Fiscal deficit of 2017-18 pegged at 3.2% of the GDP. Will remain committed to
achieving 3% in the next year.
Funding of political parties
The maximum amount of cash donation for a political party will be Rs. 2,000 from
any one source.
Political parties will be entitled to receive donations by cheque or digital mode from
donors.
An amendment is being proposed to the RBI Act to enable issuance of electoral
bonds. A donor can purchase these bonds from banks or post offices through
cheque or digital transactions. They can be redeemed only by registered political
parties.
Tax proposals
Indias tax to GDP ratio is not favourable.
Out of 13.14 lakh registered companies, only 5.97 lakh firms have filed returns for