Press Information Bureau

11.01.2018

Property

Income Tax Department steps-up actions under Prohibition of Benami Property Transactions Act : Benami properties of more than Rs. 3,500 crore in more than 900 cases attached

MANU/PIBU/0076/2018

Due to intensive efforts undertaken by the Income Tax Department, provisional attachment has been made in more than 900 cases of properties under the Prohibition of Benami Property Transactions Act (the 'Benami Act'), which came into force w.e.f 1st November, 2016. These attachments include plots of land, flats, shops, jewellery, vehicles, deposits in bank accounts, fixed deposits etc. The value of properties under attachment is more than Rs. 3,500 crore including immovable properties of more than Rs. 2,900 crore.

In five cases, the provisional attachments of Benami properties, amounting to more than Rs. 150 crore have been confirmed by the Adjudicating Authority. In one such case, it was established that a Real Estate Company had acquired about 50 acres of land, valued at more than Rs.110 crore, using the names of certain persons of no means as benamidars. This was corroborated from the sellers of the land as well as the brokers involved. In another case, post demonetization, two assessees were found depositing demonetized currency into multiple bank accounts in the names of their employees, associates etc. to be ultimately remitted to their bank accounts. The total amount attempted to be remitted to the beneficial owners was about Rs. 39 crore. In yet another case, a cash amount of Rs. 1.11 crore was intercepted from a vehicle with a person who denied the ownership of this cash. Subsequently, no one claimed ownership of this cash and it was held to be benami property by the Adjudicating Authority.

Earlier, the Income Tax Department had stepped-up actions under the Prohibition of Benami Property Transactions Act (the 'Benami Act'. The Act provides for provisional attachment and subsequent confiscation of benami properties, whether movable or immovable. It also allows for prosecution of the beneficial owner, the benamidar and the abettor to benami transactions, which may result in rigorous imprisonment up to 7 years and fine upto 25% of fair market value of the property.

The Department had set-up 24 dedicated Benami Prohibition Units (BPUs) under its Investigation Directorates all over India in May, 2017 to ensure swift action in respect of Benami properties. The Department is committed to continue its concerted drive against black money and action against Benami transactions will continue to be intensified.

Tags : Actions Benami Property Attachment

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Reserve Bank of India

11.01.2018

Banking

Interest rates for Small Savings Schemes

MANU/RMIC/0004/2018

1. Please refer to our circular DGBA.GBD.954/15.02.005/2017-18 dated October 12, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016-NS dated December 27, 2017 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2017-18 (copy enclosed).

2. The contents of this circular may be brought to the notice of the branches of your bank operating Government Small Saving Schemes for necessary action. These should also be displayed on the notice boards of your branches for information of the subscribers to these Schemes.

Tags : Interest Rates Schemes

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Press Information Bureau

10.01.2018

Civil

Shri Nitin Gadkari holds bilateral talks with Iranian Minister of Roads and Urban Development, Says Chabahar Port will present a win- win situation for both countries

MANU/PIBU/0068/2018

Shri Nitin Gadkari, Minister of Shipping, Road Transport and Highways, Water Resources, River Development and Ganga Rejuvenation held bilateral talks with Dr. Abbas Akhoundi, Iranian Minister of Roads and Urban Development in New Delhi today. The talks were preceded by an Indo-Iran Joint Business Seminar attended by officials and nearly a hundred delegates from the public and private sector and various trade bodies from both countries .

Talking to media persons after the talks Shri Gadkari termed the discussions as very fruitful. He said the Chabahar Port was very important for both India and Iran, and offered a win-win situation to both countries. He said the port would be a growth engine for India as it opened up an alternate route for exports to Afghanistan and Russia. It would also open up business opportunities for investors of both India and Iran to invest in each other's country, he said. The Minister further informed that the two countries have sorted out all issues pertaining to the Chabahar Port in their discussions today. He also said the Indo-Iran Joint Business Seminar was a fruitful exercise for exploring business opportunities in the two countries. He expressed confidence that today's meeting would help to further strengthen the good relations between the two countries.

Dr. Akhoundi spoke of various infrastructure projects in Iran and highlighted the investor friendly business environment, particularly in the transportation and logistics sector. The Indo-Iran Joint Business Seminar held earlier during the day focussed on Chabahar Port, opportunities in Free Zone and Transit Corridors. The Minister of State for Shipping, Road Transport & Highways and Chemicals & Fertilizers Shri Mansukh Mandaviya spoke about the initiatives taken by the Government of India to enhance bilateral cooperation in the maritime sector. Presentations were made by the Managing Director, India Port Global Limited, the Managing Director of Port and Maritime Organisation of Iran and by their Deputy Minister of Transport, on Transit Corridors and Transhipment. The business event was attended by nearly a hundred delegates from the public and private sector and various trade bodies from both countries. The meeting closed with an insightful open house session in which relevant questions were posed and discussed with stakeholders and potential investors.

Tags : Bilateral talks Ports Business opportunities

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Press Information Bureau

10.01.2018

Law of Medicine

5th Bilateral Meeting on cooperation in the field of Traditional Systems of Medicine between India and Malaysia held in New Delhi

MANU/PIBU/0071/2018

The 5th Bilateral Technical Meeting on cooperation in the field of Traditional Systems of Medicine between Govt. of India and Malaysia was held today at New Delhi which was a part of agreement signed between both countries in 2010. The Meeting was presided by Sh. Pramod Kumar Pathak, Joint Secretary, Ministry of AYUSH from Indian side and Deputy Director General Health (Medical), Ministry of Health Malaysia.

Secretary, Shri Vaidya Rajesh Kotecha Ministry of AYUSH in his closing remarks stated that any initiative from Malaysian side for promotion and propagation of Traditional Systems of Medicine and Homeopathy is welcomed and Ministry of AYUSH is ready to offer its full support. The Meeting had discussed the following agenda:-

(a) Establishment of Ayurveda Chair in University of UTAR, Malaysia.

(b) Professional training in Panchakarma therapy for Malaysian experts in India.

(c) The evaluation of safety and efficacy of combination Ayurvedic/ traditional products for clinical trials.

(d) Safety evaluation of Ayurvedic products based on Good Laboratory Practices (GLP).

(e) Bilateral MoU between National Medicinal Plants Board (NMPB), Ministry of AYUSH and Malaysia for Cooperation in the field of Medicinal Plants.

(f) Registration of Homeopathic Practitioner and their capacity building module in Malaysia.

The Malaysian side briefed about recent development in the field of Traditional Medicine in their country. It was informed that Traditional and Complementary Medicine (T&CM) Council has been constituted to overlook various activities related to T&CM Systems of Medicine. They expressed their keen desire for capacity building programmes for their experts in India to understand analytical parameters with regard to Indian Medicine and for Panchkarma courses being conducted in India.

Ministry of AYUSH highlighted the issues of registration of AYUSH practitioners and products in Malaysia. It was informed that there exists robust system of regulation in the country for AYUSH product, practices and providers in India which could be shared with Malaysian side for reference purpose. Ministry intends to enhance cooperation for designing and developing the policies and strategies in the field of Traditional Medicine in Malaysia.

Tags : Bilateral Meeting Cooperation Medicine

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Press Information Bureau

10.01.2018

Civil

Cabinet approves continuation of Members of Parliament Local Area Development Scheme beyond 12th Plan

MANU/PIBU/0073/2018

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to continuation of Members of Parliament Local Area Development Scheme (MPLADS) till the term of the 14th Finance Commission i.e. 31.03.2020.

Details:

The Scheme would entail an annual allocation of Rs. 3,950 crore and a total outlay of Rs. 11,850 crores over the next three years with an additional annual allocation of Rs. 5 crore per year for monitoring through independent agency(ies) and for capacity building/training to State/District officials to be imparted by the Ministry.

The MPLADS funds are released to the nodal District Authorities on receipt of requisite documents and as per provisions of Guidelines on MPLADS.

Impact:

The entire population across the country stands to benefit through creation of durable assets of locally felt needs, namely drinking water, education, public health, sanitation and roads etc., under MPLAD Scheme. The MPLAD Scheme has resulted into creation of various durable community assets which have impacted the social, cultural and economic life of the local communities in one way or the other.

Background:

The MPLAD Scheme is an ongoing Central Sector Scheme which was launched in 1993-94. Since the inception of the Scheme till August, 2017, a total number of 18,82,180 works for Rs. 44,929.17 crore have been sanctioned from MPLADS fund.

The Scheme enables the Members of Parliament to recommend works for creation of durable community assets based on locally felt needs to be taken up in their constituencies in the area of national priorities namely drinking water, education, public health, sanitation, roads etc. The Scheme is governed by a set of guidelines, which have been last revised in June, 2016.

Tags : Cabinet Approval Development Scheme

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Press Information Bureau

09.01.2018

Environment

National Conference of CPCSEA on Welfare of Laboratory Animals Held In Environment Ministry

MANU/PIBU/0064/2018

A one-day National Conference on Welfare of Laboratory Animals was organised by CPCSEA, Ministry of Environment, Forest and Climate Change, with the theme of "Implementation of 3Rs (Replacement, Reduction and Refinement) while using animals in academic research and regulatory testing in India", here today. The conference deliberated upon elaborating the understanding of animal use in academics, as well as regulatory testing and evaluating the use of alternatives, wherever animals can be exempted from testing. The conference also included brainstorming sessions in the form of panel discussions, which had eminent scientists working with animals, versus those working in the field of alternatives.

The conference laid emphasis on the issue of ethical use of animals in academics and regulatory testing in India. The discussions were focussed on evaluating the possibilities of exemption of animal experiments in academics and regulatory testing. Eminent speakers who disseminated valuable information regarding the ethical use of animals were Director, National Institute of Animal Biotechnology (NIAB), Dr. Subeer Majumdar, Professor, School of Life Sciences, University of Hyderabad, Dr. K. Muralidhar, Professor and Head, Department of Pharmacology, AIIMS, Dr. Y.K Gupta and Director, Indian Institute of Toxicology Research, Dr. Alok Dhawan,. The conference was also attended by representatives from animal welfare organisations like PFA, and PETA India, to encourage exchange of views between the stakeholders.

The Conference was attended by 200 participants from all over the country from various research establishments. The inaugural session of the Conference was chaired by Additional Secretary, MoEF&CC, Shri A.K Jain and Drug Controller General of India (DCGI), Dr. G. N. Singh.

The CPCSEA is mandated to alleviate pain & suffering to the laboratory animals before, during or after the performance of experiments on them. CPCSEA is trying to find appropriate alternatives to the use of animals in experiments in India.

Tags : Conference Welfare Laboratory Animals

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Press Information Bureau

09.01.2018

Civil

MOU Signed For Providing Centralized Platform for Processing Interest Subsidy to Eligible Beneficiaries under Sep Component of Day-Nulm

MANU/PIBU/0065/2018

A Memorandum of Understanding(MOU) has been signed in the presence of Shri Hardeep Singh Puri, Minister of State(I/C) Ministry of Housing and Urban Affairs to provide a centralized platform for processing interest subsidy to eligible beneficiaries under Self Employment Programme (SEP) component of Deendayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY-NULM). The MOU was signed between Ministry of Housing and Urban Affairs (MOHUA) and Allahabad Bank here today. Smt. Usha Anantha subramaniyan, MD &CEO, Allahabad Bank and Shri Sanjay Kumar, Joint Secretary from the Housing Ministry signed the MOU. Ms. Archana Mittal, Director, NULM and senior officials from the Ministry were also present on the occasion.

The Web-portal will provide an end-to-end solution for processing interest subsidy for NULM schemes. The subsidy will be credited to Aadhaar linked beneficiary account in a seamless process through DBT mode. The portal will also facilitate on-line validation of loans granted by Banks, through Urban Local Bodies.

Under the Self-Employment Component (SEP) of NULM, bank loans for setting up micro- enterprise are available to individuals (upto 2 lakhs) and groups (upto 10 lakhs) of urban poor; consumption loans (as per the savings) are also available for Self Help Groups (SHGs). Interest subvention from Ministry is available for the amount of interest charged over and above 7%, by the banks and women SHGs are eligible for additional 3% subvention on timely loan repayment.

Currently, processing of interest subvention is manual - banks submit claims to ULBs on a monthly basis, who then verify and settle them - tedious and time-taking process.

Delay or non-submission of claims by banks for interest subsidy.

No mechanism to ascertain whether beneficiary has received subsidy or not.

As on 31st December 2017, the interest subsidy claimed by banks is Rs 204.27 crore, against an estimated amount of subsidy claim of Rs 700 crores (FY 2014-15 to Q3 2017-18).

Under the Proposed System, Common centralized IT platform for all states, to streamline release of interest subsidy and facilitate proper monitoring - Allahabad Bank selected for the design and development of portal. Claims will be uploaded by Central/Zonal HQ of banks on the portal; concerned States/ULBs will verify the beneficiaries, after which the claim amount will be transferred to the beneficiary through Direct Beneficiary Transfer (DBT) mode; SMS will be sent to beneficiary intimating him about release of subsidy in his account; Allahabad Bank will charge a service fee of 1.05% of interest subsidy amount released; Ministry, States and ULBs will get reports to monitor interest subvention delivery; Web Portal will be functional by beginning of FY 2018-2019.

Tags : MOU signing of Interest Subsidy

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Press Information Bureau

09.01.2018

Civil

Indian Railways launches transparent and efficient "New Online Vendor Registration System" in its research arm RDSO

MANU/PIBU/0066/2018

Tremendous business opportunity for growth of new SMEs thus aiding job creation. The new system is simpler and user friendly. No need for vendors to visit RDSO office for any activity related to his case for registration. The fixed date schedule system has been done away with & the vendors can register for the listed items throughout 365 days of the year. Parallel verification processes to help reduce cycle timelines. Registration process to be completed within defined timelines. All information & data pertaining to vendor registration now made available on RDSO Website.

In-line with the philosophy of the Government to make systems and procedures digital and transparent,Research Designs & Standards Organisation (RDSO), (headquartered at Lucknow), the research arm of Ministry of Railways, has launched "New Online Vender Registration System". This system was evolved after Minister of Railways & Coal, Shri Piyush Goyal undertook comprehensive review of the functioning of the RDSO. This new system provides major improvements and paradigm changes in the registration system over the earlier system. Public access to the information, expeditious process completion with defined timelines, simplification of procedures, round-the-year services, availability of all related information on RDSO Website, constant monitoring at all levels, reduction in cycle timelines, regular updation of online data, user friendly interface etc. are the hallmarks of the new system. Some of the salient features of this new system are given below:-

a. Vendor need not come to RDSO for any activity related to his case for registration.

b. All activities in vendor registration cycle have been tied to specific timelines and in case these activities exceed the allotted timelines, a system generated alert is flashed to all concerned officials and higher ups for immediate corrective action in the matter.

c. The process of documents scrutiny and physical verification of the Vendor's facility has been made a parallel exercise. Earlier 8 to 11 months would elapse before physical verification activity used to start. It used to start only after completion of document scrutiny. Now both the activities i.e. document scrutiny & physical verification start simultaneously. This is a major improvement over earlier process and would help in reduction of cycle timelines.

d. Process has been made simpler and user friendly. With the new online system implemented by RDSO, the Vendor can now deposit registration fee, submit documents, download technical drawings & specifications and interact with RDSO online. At each stage the vendor would get a system generated alert / acknowledgment regarding status of his case with details.

e. Management dashboard has been provided for centralized monitoring of the whole procedure and the process work-flow with the objective of identifying bottlenecks , if any, and initiating corrective action

RDSO has invited Expression of Interest (EOI) for all the 600 plus items and has kept the window open with no timelines to enable wider participation and association of industries and interested vendors in developing products and new technologies for the Railways. Now vendors can register for any of the item throughout 365 days of the year. It will provide tremendous business opportunity for growth of new SMEs thus aiding job creation.

All RDSO controlled items have now been listed on RDSO website with specific timelines for Vendor Registration process for each individual item. RDSO will endeavor to complete the registration process for which the vendor applies within defined timelines.

All information and data pertaining to cases of vendor registration and all references pending at RDSO has now been brought into public domain by uploading it on RDSO website. Details of all cases are now available in public domain and can be accessed by everybody. Regular updation of this data is now being ensured by RDSO for information of all stake holders and general public.

Tags : Launch Online Vendor Registration System

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