Economy
Government joins monetary framework with RBI to curb inflation: PM
Prime Minister Narendra Modi on Friday said that the government has for the first time entered into a monetary framework with the Reserve Bank of India (RBI) to curb inflation.
 
"We embarked on a course of fiscal consolidation. We entered for the first time into a monetary framework agreement with RBI to curb inflation," Modi said while speaking at the inauguration of Delhi Economic Conclave here.
 
Modi said that by almost every major economic indicator, India is doing better than when he took office 17 months ago.
 
"Maximum value for every rupee spent, maximum empowerment for our poor, maximum technology penetration among masses," said Modi.
 
On development in the banking sector, Modi said that 19 crore people were brought under the banking system in 19 months.
 
"Accounts opened under Jan-Dhan yojana have a total balance of almost Rs.26,000 crore today. For me, JAM (Jan-Dhan, Aadhaar, Mobile) Vision is just about achieving maximum," said Modi, and added that India's GDP has grown and inflation come down in the recent times.
 
He also emphasised that India should be known as a job creater nation, not a job seeker nation.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SC extends time till November 13 for collegium suggestions
The Supreme Court on Thursday extended till November 13 the time for inviting suggestions to make the functioning of collegium system transparent and eligibility criteria based for appointments to the higher judiciary.
 
A constitution bench comprising Justice Jagdish Singh Khehar, Justice J. Chelameswar, Justice Madan B. Lokur, Justice Kurian Joseph and Justice Adarsh Kumar Goel said that all the suggestions should reach the law and justice ministry till 5 p.m. on November 13, which in turn will forward then to senior counsel Arvind Dattar and Additional Solicitor General Pinki Anand to collate.
 
"All those who desire to make suggestions may do so directly, on the website of the department of justice, ministry of law and justice," the court said, adding no suggestions beyond the deadline will be entertained.
 
It, however, permitted the Bar Council of India to submit their suggestion to Dattar and Anand till November 14.
 
The court made exception as it noted the submission by its chairman Manan Kumar Mishra that the apex body of all the state bar councils "be permitted to gather suggestions from all stake holders, and submit such of the suggestions as it approves, for consideration" by the apex court.
 
All the suggestions will be limited to the point of transparency in the working of the collegium, eligibility criteria for the selection of judges, setting up of a permanent secretariat of the collegium and the procedure for entertaining the complaints in respect of the candidates being considered for judgeship.
 
Welcoming the suggestions by Attorney General Mukul Rohatgi to put the already collated suggestions on the law and justice ministry's website, the court asked the ministry to do so.
 
The court fixed two days, commencing from November 18, for hearing different counsel on the suggestions made.
 
It has constituted a three member committee comprising Rohatgi, Mishra and senior counsel Fali Nariman who will decide on the lawyers who will address the court on the suggestions during two-day hearing, starting November 18.
 
The court made it clear that no other counsel other than those short-listed by the committee would be heard.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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