Piyush Goyal back as interim Finance Minister, to present interim Budget

Intrim Budget 2019:

With eight days to go before the Narendra Modi government presents its interim Budget on February 1, the Prime Minister on Wednesday entrusted Railway Minister Piyush Goyal with ministerial portfolios of finance and corporate affairs till Arun Jaitley comes back from the US.

Jaitley underwent a surgery in the US on Tuesday. With doctors having advised him two weeks’ rest, Goyal is set to present the interim Budget — the final Budget of the Modi-led government’s current tenure, which comes less than 90 days before the Lok Sabha polls and could contain key announcements.

According to a Rashtrapati Bhavan communique, issued at 8.55 pm, the President, as advised by the PM, directed that during the period of Jaitley's indisposition, the finance and corporate affairs portfolios, held by him, be temporarily assigned to Goyal. It said Goyal would continue to hold his existing portfolios: Railways and coal.


 The communique stated that Jaitley “be designated as minister without portfolio during the period of his indisposition or till such time he is able to resume his work as minister of finance and minister of corporate affairs.”...Read More

Ahead of polls, Google promises a new search for political advertisements

Google signage is seen at Google headquarters in the Manhattan borough of New York City, New York, U.S.,

Technology News:

As the country braces for the general elections this year, technology giant Google on it is bringing more openness to election advertising online and is enabling voters to get the election-related information they need.

To bring more transparency to the online election ads, Google is introducing an India-specific ‘Political Advertising Transparency Report’ and searchable ‘Political Ads Library.’

Through these initiatives, which will go live in March this year, the company is looking at providing comprehensive information about who is purchasing election ads on Google platforms and how much money is being spent. This year, over 850 million Indians are expected to cast their votes to elect the country’s next government.


 “We’re thinking hard about elections and how we continue to support democratic processes in India and around the world,” said Chetan Krishnaswamy, director, public policy, Google India, adding, “We are bringing more transparency to election advertising online, and surfacing relevant information to help people better navigate the electoral process...Read More

Vistara to raise frequency on existing domestic routes, says Leslie Thng

Companies News:

Vistara, joint venture of Tata Sons and Singapore Airlines, is to raise its frequency on existing domestic routes, besides adding one or two destinations, Chief Executive Leslie Thng said.

It began flying in January 2015 and operates 130 daily flights, with 22 aircraft. Thng said they were aiming at double-digit capacity growth and would add six to 10 of Airbus’ A320neo planes in 2019. Deliveries will begin from the second half of the year. There is no plan to take more aircraft on lease.

The airline has 56 planes on order — 50 of Airbus (A320s and A321neos) and six of the Boeing 787-9s. It will induct the Boeing planes from the first quarter of 2020 and has begun training its pilots for this.

ALSO READ: Govt committee to decide if Vistara should get foreign flying permit


 “We are still waiting for final approval for international operations,” said the chief executive. The airline was originally aiming to ply abroad from the end of 2018. Government rules require an airline to have a minimum of 20 planes before this could be allowed. Vistara became eligible last year and had applied the civil aviation ministry in June, with a plan for flights to Bangkok, Phuket, Colombo and Male by the winter schedule of 2018...Read More

Demonetisation, GST affecting Mudra loan recovery, says Shiv Sena

CURRENT AFFAIRS:

Demonetisation and haphazard implementation of Goods and Services Tax have impacted the recovery of Rs 11,000 crore of loans disbursed under the Centre’s Micro Units Development and Refinance Agency (MUDRA) scheme, the Shiv Sena said Tuesday.

In an editorial in party mouthpiece Samana, it said, “Loans worth Rs 2.46 lakh crore have been disbursed so far to 4.81 crore small scale industrialists. The outstanding amount of these loans has piled up to Rs 11,000 crore, which is a serious issue.”

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“In the early stage, these entrepreneurs suffered from decisions such as Demonetisation and haphazard implementation of Goods and Services Tax. It has affected loan recovery,” the Sena editorial claimed.

“This sector is also affected due to the slowing of country’s economic growth in last two years. It can easily be deduced that some policies of the government are responsible for Rs 11,000 crore outstanding loans under the Mudra Scheme,” the BJP’s ally in the Maharashtra and Union governments alleged… Read More.

Mumbai: No end to impasse as BEST bus strike enters 8th day, all eyes on HC

CURRENT AFFAIRS:

 In an unfavourable development for Mumbai's nearly 25-lakh daily bus commuters, the deadlock between BEST workers' union and the Maharashtra government entered eighth day on Tuesday, with both sides failing to reach an agreement before the Bombay High Court to end the stir.

The high court on Monday said it would pass appropriate orders on Tuesday on the BEST bus strike if the union and state authorities failed to end the deadlock, adding that "things cannot continue as they are".

The high court bench also directed the high power committee, constituted by the Maharashtra government last week to negotiate with the striking union, to submit a report in a sealed cover clarifying its views on some of the urgent demands of the union.