Central Government
Central govt's total gross liabilities increase marginally by 2.6% in Q3 FY 2022-23
According to the quarterly report released by the Department of Economic Affairs, this represented a quarter-on-quarter increase of 2.6 per cent in Q3 FY2022-23. Public debt accounted for 89.0 per cent of total gross liabilities at end-December 2022 in contrast to 89.1 per cent at end- September. Nearly 28.29 per cent of the outstanding.
Government received Rs 20.39L cr till Feb, spent Rs 34.93L cr
Meanwhile, total expenditure incurred by the government stood at Rs 34,93,590 crore, out of which Rs 29,03,363 crore was on revenue account and Rs 5,90,227 crore on capital account. Out of the total revenue expenditure, Rs 7,98,957 crore was on account of interest payments and Rs 4,59,547 crore was on account of major subsidies.
Government hikes interest rate of small saving schemes, maximum in Sukanya Samridhi Yojana
However, savings deposit interest rates and PPF interest rates have been kept unchanged at 4 per cent and 7.1 per cent respectively. The interest rate of Sukanya Samriddhi Yojana has been significantly hiked to 8 per cent from the existing 7.6 per cent, while interest rate of NSC has been hiked from the existing 7 per cent to 7.7 per cent.
Automobile exports record growth of 35.9% from 2020-21 to 2021-22
According to the reply, the Central government has taken multiple measures to promote India's export. Foreign Trade Policy (2015-20) has been extended up to March 31, 2023 and Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended up to March 31, 2024.
Despite losing market share, The New India Assurance continues to lead industry
As per the data released by the industry lobby body General Insurance Council, The New India had earned a gross premium of Rs 26,092.47 crore as against Rs 25,477.44 earned during the previous year corresponding period. It should also be noted that the other three government owned general insurers -- The Oriental Insurance, United India Insurance and National Insurance -- have also lost market share to the private sector during the period under review.
Delhi govt not inclined towards payment of dues: DMRC to HC
The Delhi government has claimed that it is not inclined to offer Rs 3565.64 crore towards equity for payment of the arbitral sum with interest, according to the affidavit filed by the Delhi Metro Rail Corporation (DMRC). Before a single-judge bench Yashwant Sharma, the Central government and DMRC, represented by Attorney General R. Venkataramani, informed the court that the issue was being actively considered and deliberated by the relevant authorities, and that they anticipated a resolution by January 16.
Centre receives Rs 903 cr as dividend from Indian Railway Finance Corporation
Department of investment and public asset management (DIPAM) tweeted the information through the Twitter handle of DIPAM secretary Tuhin Kanta Pandey. It further informed that Rs 503 crore and Rs 66 crore have also been received from Hindustan Aeronautics Ltd (HAL) and Rashtriya Chemicals and Fertilizers Ltd (RCFL) respectively as dividend tranches.
Cross selling, operational synergies exist with merger of 4 PSU general insurers with LIC
Industry experts had earlier told IANS that the five companies can be merged into one under the composite insurance regime. According to Jefferies, the global experience in favour of the composite insurer are: better cross-sells, operational expense synergies and diversification.
Centre receives Rs 5,001 crore as dividend from ONGC
This was informed by Secretary in the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey.On November 11, the government had received about Rs 690 crore from Bharat Petroleum Corporation Limited (BPCL) as dividend tranche.
Wheat prices being closely monitored: Government
Food Secretary Sanjeev Chopra said while addressing media persons that the ban on wheat exports has led to a rise in stock availability. Wheat prices, Chopra said, have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent. He further said that wheat and rice stocks position is comfortable and much above the government's buffer requirements. Government had banned exports of wheat in May this year to boost domestic supplies and control prices.
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