Top Headlines: PPF and NSC interest rates unchanged; SpiceJet settles dispute

Interest rates on small savings plans unchanged for the first quarter of FY23

The government on Thursday kept interest rates on small savings schemes, including NSC and PPF, unchanged for the first quarter of 2022-23 due to a high level of inflation.

The interest rate has not been revised since the first quarter of 2020-21. Read more

India’s budget deficit hit 82.7% of annual target at end-February

The Centre’s budget deficit at the end of February stood at 82.7% of the full-year budget target, mainly due to higher spending, according to government data released on Thursday.

In the last fiscal year, the budget deficit or the gap between expenditure and revenue was 76% of the revised estimate (RE) for 2020-21. Read more

Shah announces reduction of areas under AFSPA in Nagaland, Assam and Manipur

In a major campaign to raise awareness in the northeast, Union Home Secretary Amit Shah on Thursday announced the reduction of disturbed areas imposed under the Armed Forces (Special Powers) Act (AFSPA ) in Nagaland, Assam and Manipur after decades.

A Home Office spokesman, however, said the decision did not imply that AFSPA had been completely withdrawn from the three states affected by the insurgency, but that it would continue to be in force in some areas. of the three states. Read more

Reliance Group in a letter defends its takeover of Future Retail stores

India’s biggest retailer, Reliance, has privately defended a brutal takeover of stores from indebted rival Future Retail, saying soaring dues of $634 million forced it to act beyond expectations, a letter says. of the company.

The takeover was part of a race to dominate a $900 billion retail sector that sparked a bitter dispute in which India’s Supreme Court will decide whether Reliance or Inc can recover the assets of Future. Read more

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