“The rules for implementation of nationwide e-way bill system for inter-state movement of goods on a compulsory basis will be notified with effect from February 1, 2018. This will bring uniformity across states for seamless inter-state movement of goods,” the finance ministry said in a statement.
Observing that India has a huge population dependent on agriculture for livelihood, he said, "therefore, increase in the purchasing power of this group is extremely important for us because growth of larger economy depends on economic potential and power of this group itself."
A quick wrap of key developments in the banking sector this week.
"Today, we celebrate a significant milestone in the history of Mizoram with the completion and dedication of the 60-MW Tuirial hydropower project," the prime minister said, while addressing a public meeting here after inaugurating it.
Area under pulses was 138.19 lakh hectares so far in this rabi season as against 127.02 lakh hectares in the year- ago period, an official statement said.
MDR is charged on payments made to merchants through BHIM UPI platform and AePS (Aadhaar enabled Payment System).
"The stellar performance of exports during November, 2017 comes on the back of smart recovery in the US economy along with several other key European nations. We only have to ensure that the momentum is kept by providing an enabling environment to exporters and removing hurdles like large overdues of the Goods and Services Tax refunds, EEPC India Chairman T S Bhasin said in a statement.
"The scheme will reward hardworking, meritorious officials and will act as a catalyst to motivate other officials to work more efficiently," Road Transport and Highways Ministry said in a statement today.
The government has decided to infuse Rs 2.11 lakh crore capital in PSBs in the next two years through budgetary provisions of Rs 18,139 crore, Rs 1,35,000 crore through re-capitalisation bonds, and the balance through raising of capital by banks from the market, Jaitley said.
The Financial Resolution & Deposit Insurance Bill (or the FRDI Bill) and the ordinance amending the Insolvency and Bankruptcy Code are set to be placed before Parliament.
Axis Bank chief Shikha Sharma said the move is necessary to make the stressed asset sale more attractive.
TMC chief Mamata Banerjee has already written to the Centre opposing the Financial Resolution and Deposit Insurance (FRDI Bill and demanded its withdrawal.
It is also likely that the government will provide an additional Rs 10,000 crore as capital for PSBs through a second supplementary.
The Cabinet on Friday approved the continuation of centrally sponsored scheme of National Ayush Mission (NAM) till March 31, 2020, with an outlay of Rs 2,400 crore over the period.
This comes on the heels of RBI fining private sector lender IndusInd Bank Rs 2 crore for non-compliance of asset recognition norms.
The cabinet approved the introduction of new central sector scheme of North East Special Infrastructure Development Scheme (NESIDS) from 2017-18 with 100 percent funding from the central government.
The gold reserves remained unchanged at USD 20.703 billion, unlike in the last reporting week when it had risen by a tad.
Exports had witnessed a decline of 1.12 percent to USD 23 billion in October this year, retreating from a six-month high growth rate in September.
The imports of services increased as well, by 13.3 per cent, entailing an outgo of USD 8.7 billion in October, as per the RBI data on India’s International Trade in Services.
The FRDI Bill establishes a Resolution Corporation which will monitor the financial firms such as banks, insurance companies, stock exchanges, and depositories and pre-empt their failure, and resolve or liquidate them in case of failure.
Goods imports last month were USD 40.02 billion, a gain of 19.61 percent from a year ago.
The scheme is expected to boost exports, generate employment and make the leather and footwear industry competitive globally.
The move will help the government get an authentic estimate of jobs created under the scheme before the 2019 general election.
If in the event of a claim it is found that the asset has not been insured for its full value, the amount of loss payable is proportionately reduced.
The insurance regulator will study the report to bring out appropriate changes in regulations