• Inflation based on wholesale prices fell to a 8-month low of 3.80 per cent in December 2018, on softening prices of fuel and some food items.

• The Wholesale Price Index (WPI)-based inflation stood at 4.64 per cent in November 2018, and 3.58 per cent in December 2017

• The Reserve Bank of India mainly takes into account retail inflation data while formulating monetary policy.

 

 

• The Finance Ministry has asked the public sector banks to gradually reduce the government’s equity to 52 per cent. Currently, some of the public sector banks have government’s holding beyond 75 per cent.

• The Ministry of Finance has authorized the Public Sector Banks to take necessary steps in bringing down the government equity based on the marketing conditions.

• A notification under the Securities Contracts Regulations (Amendment) Rules makes it mandatory for all listed entities to have a minimum public float of 25%.

• The Securities and Exchange Board of India (SEBI) was established under the provisions of the Securities and Exchange Board of India Act, 1992 on April 12, 1992. SEBI aims to protect the interests of investors in securities and to promote the development and regulate the securities market in the country.

 

 

• The London-based Times Higher Education (THE), a global organization that produces data, analysis and expertise on higher education has released the he Emerging Economies University Rankings 2019.

• The 2019 ranking comprises of 450 universities from 43 countries, across four continents.

• The Indian Institute of Science has topped the rankings among Indian institutes with 14th rank; the second spot among Indian Institutes was occupied by the Indian Institute of Technology Bombay with 27th rank.

• Comparing with other countries, China continues to lead the ranking with a many as 70 universities listed in the ranking. Also, it also has to its credit the top spots with its Tsinghua University ranked at number 1. In fact, Top 4 of the top 5 spots belong to the Chinese Universities.

 

 

• The Union Cabinet approved expenditure sanction of over 4200  crore rupees for Integrated E-filing and Centralized Processing Centre 2.0 Project. 

• Union Minister Piyush Goyal said, it will help in improving tax payers` awareness and education through continuous engagement. 

• It will help in faster processing of returns and issue of refunds to the tax payers` bank account directly. The Union Cabinet approved expenditure sanction of over 4200  crore rupees for Integrated E-filing and Centralized Processing Centre 2.0 Project. 

• Union Minister Piyush Goyal said, it will help in improving tax payers` awareness and education through continuous engagement. 

• It will help in faster processing of returns and issue of refunds to the tax payers` bank account directly.

 

 

• Cabinet Committee on Economic Affairs has decided to expand the capacity of Numligarh Refinery in 3 Million Metric Tonne Per Annum, (MMTPA) to 9 MMTPA. 

• Briefing media in New Delhi this afternoon. Union Minister Piyush Goyal said it involves setting up of crude oil pipeline from Paradip to Numaligarh and Product pipeline from Numaligarh to Siliguri at a cost of over 22 thousand crore rupees. 

• The project will be completed within a period of 48 months. Mr Goyal said the decision of expansion of refinery will meet the requirement of crude oil and petroleum products in the northeast region. He said it would also generate direct and indirect employment in Assam.

 

 

• The National Green Tribunal, NGT slammed German auto major Volkswagen for not depositing Rs 100 crore in accordance with its November 16, 2018 order and directed it to submit the amount within 24 hours.

• A bench headed by NGT chairperson Adarsh Kumar Goel took strong exception to the non-compliance of its order by the automobile giant and asked it to give an undertaking that it will submit the amount by 5 PM  tomorrow.  The bench, also comprising Justice S P Wangdi,  also asked Volkswagen to submit an affidavit of compliance after deposit.

• The tribunal deferred the matter for hearing after it was informed that the Supreme Court is also seized of the issue. On November 16 last year, the tribunal had said that the use of `cheat device` by Volkswagen in diesel cars in India leads to inference of environmental damage and had asked the German auto major to deposit an interim amount of Rs 100 crore with the Central Pollution Control Board. 

 

 

• The Sovereign Gold Bond Scheme 2018-19 (Series-V) opened on 14 January for subscription. It will continue till 18 January. 

• The issue price of the Bond during this subscription period will be three thousand two hundred and fourteen rupees per gram with the settlement date of January 22nd 2019.

• The Centre in consultation with the Reserve Bank of India has decided to allow discount of 50 rupees per gram from the issue price to those investors who apply on-line and make the payment through digital mode.

• Sovereign Gold Bond Scheme (SGBS) is one of the three gold related schemes launched by the PM in November 2015. It gives the people to invest their gold into sovereign bonds. Bonds are one of the three assets, the other being stocks and cash.

 

 

• In pursuance of decision in the 32nd Meeting of GST Council held on 10th January, 2019 at New Delhi, a Group of Ministers (GoM) for boosting the Real Estate Sector under the GST regime has been constituted.

• Shri Nitin Patel, Hon’ble Deputy Chief Minister, Government of Gujarat, will be Convener of this group.

• The Terms of Reference (ToR) for the GoM for boosting Real Estate Sector under GST regime shall be as follows:

• Analyse tax rate of GST, Examine and suggest ways for Composition Scheme or any other Scheme, for boosting Real Estate Sector, Examine and suggest any other aspect relevant to boost Real Estate Sector.

• The GoM for boosting Real Estate Sector under GST regime may invite officers from the Centre and the States, as may be required. The Conveners of Law Committee and Fitment Committee will assist the GoM.

• The Secretary for the GoM for boosting the Real Estate Sector under GST regime shall be Shri Manish Sinha.