Page 3 - Value Plus Jan 2016

YEAR GONE BY-
KEY ECONOMIC
REFORMS

INSURANCE BILL MERGER OF FMC SUGAR SECTOR
WITH SEBI REFORM
Government raised FDI
cap in insurance from In the first ever merger The Cabinet Committee
26% to 49% through a of two regulators, over 60-year-old on Economic Affairs
notification issued by the DIPP. commodities regulatory body Forward (CCEA) decided to pay a production
Markets Commission (FMC) merged linked subsidy of Rs 4.50 per quintal
BLACK MONEY with the capital markets watchdog directly to cane farmers in 2015-16
BILL Securities and Exchange Board of season to help cash-starved sugar
India (SEBI). mills clear arrears a move that would
A Bill to deal with cost the exchequer about Rs 1,147
black money stashed SWACHH crore.
abroad was passed in May 2015. The BHARAT MISSION
Bill is aimed at bringing to justice FOREIGN DIRECT
and punishing Indians who have The Government of INVESTMENT
undeclared accounts/assets abroad. India launched Clean India Mission or (FDI)
Swachh Bharat Mission covering 4,041
NEW UREA statutory cities and towns, to clean the The government announced big
POLICY streets, roads and infrastructure of the bang Foreign Direct Investment (FDI)
country. The campaign was officially reforms across 15 sectors including
The Cabinet approved launched on 2nd October 2014. World defence, banking, construction, single
the New Urea Policy 2015, which Bank approved $1.5 bln loan for brand retail, e-commerce, agriculture
looks at adding urea production Swachh Bharat Mission in December. & animal husbandry, broadcasting and
capacity in the country to make India civil aviation. The government also
self-sufficient in the next four years. 7TH PAY raised the limit of Foreign Investment
COMMISSION Promotion Board from current
SPECTRUM Rs 3,000 crore to Rs 5,000 crore.
SHARING The Seventh Central
Pay Commission’s GOLD
The government recommendation of a 23.55% hike MONETISATION
approved spectrum sharing between in pay scales and pension of central SCHEME
telecom companies to tackle the government employees is expected to
issue of spectrum shortage. Telecom generate a $15-billion stimulus (Rs 1 This scheme will allow
companies can now trade frequencies lakh crore approx) for consumption holders of gold to earn some regular
in 800 MHz, 900 MHz, 1800 MHz, demand in India. The move has interest on personal gold and save
2100 MHz, 2300 MHz and 2500 MHz largely lifted the spirit of India’s carrying costs as well. It is a gold
bands, but only two years after being consumer-focused companies and is savings account which will earn
assigned or winning an auction. expected to boost their overall growth. interest for the gold that you deposit
in it.
MAT EXEMPTION UDAY POWER
SECTOR REFORM
Government exempted
Foreign Portfolio Cabinet cleared a $7
Investor (FPIs) from MAT. billion debt recast and reform package
to revive loss making state utilities in
ONE RANK ONE November. Under this, state can also
PENSION POLICY issue bonds and the balance discom
debt will be converted into loans or
Government announced bonds at concessional rates.
One Rank One Pension policy for ex-
servicemen with effect from July 1, 2014.

3 ARIHANT CAPITAL ¡ JANUARY 2016