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Though the effects of deflation are just the opposite to those of inflation, deflation also poses its own menacing threat to economic stability in a system. Effects of Production. Deflation adversely affects the level of production, investment activity, employment, and income level in an economy.
The Union Finance Minister Shri Pranab Mukherjee said that the main reason for decline in the GDP growth is slowdown in industrial growth, in particular in investment growth. The Finance Minister said that the negative growth in mining sector along with slowdown in construction sector has also contributed to the decline in GDP growth. The Finance Minister Shri Mukherjee was reacting to the figures of advance estimates of GDP for the year 2011-12 which were released here today, by the Central Statistical Organisation (CSO). The Union Finance Minister Shri Pranab Mukherjee said though figures of advance estimates for GDP for the current fiscal somewhat look disappointing by our recent growth experience, yet considering the current global context and the slowdown in the domestic industrial sector in particular, the growth performance is not all that surprising.
(i) The policy recommends production of Concentrate of Poppy Straw (CPS) in India by a company or body corporate. This would enable India to retain its status of a traditional supplier of Opiate Raw Material (ORM) to the rest of world, while remaining competitive. (ii) The consumption of poppy straw by addicts will be gradually reduced and finally stopped in a time frame decided by the States.
The Supreme Court has ruled that mandatory death penalty for an offender under the Arms Act was unconstitutional as it violated fundamental rights guaranteed to a citizen.A bench of Justices Asok Kumar Ganguly (since retd) and J S Khehar said Section 27(3) of the Arms Act, which imposed mandatory death penalty, was also “ultra vires and void” as it restricts the powers of the court in awarding sentences to an accused in such cases.
Calls for 9 percent Plus Growth for a Sustainable Period to achieve the Objective of Inclusive Growth; Industry Asks for Improvement in Outcome of Expenditure on Social Programmes, Widening of Tax Net, Shifting to Accrual Based Budgeting from Cash Based, Acceleration in the Disinvestment Process and Boost in Agricultural Growth among Others.
In a move to further make Train Reservation Ticketing System passenger friendly, the Ministry of Railways has decided to permit Short Messaging Service (SMS) sent by its PSU, Indian Railways Catering & Tourism Corporation (IRCTC) containing vital details as an instrument on par with the Electronic Reservation Slip (ERS). This has come into effect from 1st February, 2012.
A scheme was launched in 2007 to provide legal /financial assistance to the deserted or divorced overseas Indian women through the Indian Missions/Posts. It was revised and the revised scheme came into effect from November, 2011. The scheme would be available to Indian women who have been deserted by their overseas Indian / foreign husbands or are facing divorce proceedings in a foreign country, subject to the following conditions:-
The Telecom Regulatory Authority of India (TRAI) has today released a Pre-consultation Paper on “Allocation of Spectrum in 2G band in 22 Service Areas by auction” for comments of the stakeholders.The Hon’ble Supreme Court of India in its Judgment dated 2nd February 2012 in the writ petitions no 423/2010 and 10/2010, has directed TRAI to make fresh recommendations for grant of licence and allocation of spectrum in 2G band in 22 Service Areas by auction, as was done for allocation of spectrum in 3G band.
Reserve Bank of Indiashall come out with its credit policy review next week in the back drop of two important landmarks – growth in industrial output and decline in inflation, more so in food commodities. This is indeed a reversal from a long trend of unabated inflation.
Whether a complaint can be filed by a citizen for prosecuting a public servant for an offence under the Prevention of Corruption Act, 1988 (for short, ‘the 1988 Act’) and whether the authority competent to sanction prosecution of a public servant for offences under the 1988 Act is required to take an appropriate decision within the time specified in clause I(15) of the directions contained in paragraph 58 of the judgment of this Court in Vineet Narain v. Union of India (1998) 1 SCC 226 and the guidelines issued by the Central Government, Department of Personnel and Training and the Central Vigilance Commission (CVC) are the question which require consideration in this appeal.
