Others - Corporate Law Reporter

National Water Policy – Need for Augmentation, conservation and efficient management

The National Water Resources Council (NWRC) at its sixth meeting held on 28th December, 2012 based on the broader consensus that emerged, adopted the National Water Policy (2012) containing recommendation for setting up of an independent Statutory Water Regulatory Authority by each State to fix and regulate the water tariff system. Several steps for augmentation,… Read More

Salient features of the Tax Forgone Statement

The salient features of the Tax Forgone Statement issued by the Government are as under: ¢ This Statement seeks to list the revenue impact of tax incentives or tax subsidies that are a part of the tax system of the Central Government. ¢ This Statement attempts to estimate some of the major tax expenditure under… Read More

Inclusion of Ayurveda/Homoeopathy in Mediclaim Insurance

Insurance Regulatory and Development Authority (IRDA) has informed that the insurance coverage to AYUSH treatments has been facilitated through the Regulation 5 (1) of the IRDA (Health Insurance) Regulations, 2013 which are published in the official gazette and came into force with effect from 18.02.2013. As per this regulation the insurers may provide coverage to… Read More

Government sets up Inclusive Innovation Fund

The Government has set up an Innovation Fund for inclusive economic growth. National Innovation Council in collaboration with Ministry of Micro, Small and Medium Enterprises (MSME) has proposed to set up a dedicated fund in the name of ˜India Inclusive Innovation Fund™ for promoting grass root innovations with social returns as well as modest economic… Read More

Kisan Credit Card (KCC) Norms Simplified

Kisan Credit Card (KCC) Norms Simplified The procedure for determining validity/renewal of Kisan Credit Card (KCC) has been simplified under the revised KCC Scheme issued by the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) in 2012. As per the revised Scheme, the KCC is valid for five years… Read More

IRDA clarification on Process of providing Clearance to Insurance Products

The clearance to Insurance Products takes a lot of time in the country. Policyholders™ protection is the prime concern of the Insurance Regulatory and Development Authority (IRDA) and it does exercise a thorough diligence while approving products accordingly. IRDA has informed that the scrutiny process involves detailed examination of whether: ¢ Product is suitable to… Read More

No Proposal for Waiving off Education Loan for Students without jobs

At present, there is no proposal under the consideration of the Government to waive off the education loans sanctioned to the students who could not get a job after completing their studies. The Government had in the Budget 2012-13 announced setting up of a Credit Guarantee Fund for Education Loans to ensure better flow of… Read More

National Pharmaceutical Pricing Policy, 2012 – Price Control on Essential Medicines

Under the provisions of the Drugs (Prices Control) Order, 1995 (DPCO, 1995) the prices of 74 scheduled bulk drugs and the formulations containing any of these scheduled drugs are controlled. In respect of those scheduled medicines, which are part of National List of Essential Medicines-2011 (NLEM), National Pharmaceutical Pricing Authority (NPPA) fixes the prices as… Read More

CLR Snippets :: Call Rates of PSU Telecom Companies

As per the existing tariff framework, tariff for telecommunication access services is under forbearance except for national roaming and Rural Fixed Line Services. The service providers have the flexibility to offer different tariff schemes depending on the market conditions and other commercial considerations. Each service provider devices various schemes in such a manner as to… Read More

CLR Snippets :: Setting Up of NMRA

The Government has introduced the Mines and Minerals (Development and Regulation) Bill, 2011 in the Lok Sabha on 12.12.2011 which was referred to the Standing Committee on Coal and Steel on 5.1.2012. The Mines and Minerals (Development and Regulation) Bill, 2011 provides for establishment of the National Mining Regulatory Authority for, inter-alia, conducting investigation and… Read More

CLR Snippets :: Committee on Cost Cutting Measures Recommends Strong Accountability

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that in accordance with Turn Around Plan (TAP) approved by Government for Air India, some flights, which were not meeting the fuel cost /cash cost of operations, have been withdrawn by the airline. However, commencement and withdrawal of flights by any… Read More

CLR Snippets :: Air India to Emerge Ebitda Positive

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that Government has approved the Turn Around Plan (TAP) and Financial Restructuring Plan (FRP) of Air India under which there would be equity investment in Air India spread over 10 years. The equity would be brought in by Government against achievement… Read More

Government Approves High Level Air Space Policy Body

Government Approves High Level Air Space Policy Body Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that the concept of Flexible Use of Airspace (FUA) for sharing of airspace between civil and military users has been agreed in principle. The Government has accorded approval for constituting a High Level… Read More