Indian Economy – Advocatetanmoy Law Library

BANK OF BENGAL ACT 1839

Posted by Advocatetanmoyon June 15, 2021June 15, 2021in Indian Economy

The existing Charter of the Bank of Bengal having been found in many respects inconvenient and imperfect, the Members of the said Corporation have by their Directors applied to the Governor General of India in Council for the amendment thereof, by a new Charter or Act of Incorporation, tendering the surrender thereupon of the said Charter

BANK OF BENGAL ACT 1836

Posted by Advocatetanmoyon June 15, 2021in Indian Economy

It is hereby enacted, that from the day of the passing of this Act, any person may hold Capital Stock of the Bank of Bengal to an amount not exceeding 1,60,000 Company’s Rupees, and that any existing Proprietor of Stock of the said Bank, may subscribe for additional Stock of the said Bank in proportion to his interest, any restriction in the Charter of the said Bank contained notwithstanding.

Gold and Silver Coinage Act 1835

Posted by Advocatetanmoyon June 15, 2021June 15, 2021in Indian Economy

And be it enacted, that these Coins shall bear on the obverse the head and the name of the reigning Sovereign of the United Kingdom of Great Britain and Ireland, and on the reverse the designation of the Coin in English and Persian, and the words “East India Company” in English, with such Embellishment as shall, from time to time, be ordered by the Governor General in Council.

RBI keeps Repo rate at 4%-GDP projected at 9.5% in 2021/22-Rs 15,000 cr liquidity support to hospitality sectors

Posted by Advocatetanmoyon June 5, 2021in Indian Economy

The Reverse Repo Rate too will remain unchanged at 3.35%. He informed that Monetary Policy Committee was of the view that policy support from all sides is required to gain growth momentum and to nurture recovery after it takes root. “Hence policy rate has been left unchanged and accommodative stance has been decided to be continued as long as necessary to revive and sustain growth, while ensuring inflation remains within target” the Governor said while delivering RBI’s bi-monthly monetary policy statement through an online address.

Reserve Bank of India Monetary Policy Report – 07/04/2021

Posted by Advocatetanmoyon April 22, 2021April 22, 2021in Indian Economy, Monetary Policy

The Indian equity market remained upbeat in October 2020 following the phased unlocking of the economy, Q2 corporate earnings and a slew of liquidity and regulatory measures by the RBI. Domestic equities, however, witnessed cautious trading towards the end of the month due to uncertainty surrounding the outcome of the US presidential elections. In November, the BSE Sensex gained by 11.4 per cent, supported by FPI inflows, positive developments on the vaccine and the Government’s approval of a ₹1.5 lakh crore production-linked incentive (PLI) scheme for 10 manufacturing sectors.

Indian Incentives to Foreign Companies under make in India Scheme

Posted by Advocatetanmoyon February 11, 2021in Indian Economy

The Government of India is making continuous efforts under Investment Facilitation for the implementation of Make in India action plans to identify potential investors. Support is being provided to Indian Missions abroad and State Governments for organising events, summits, road-shows and other promotional activities to attract investment in the country under the Make in India banner. Investment Outreach activities are being carried out for enhancing International co-operation for promoting FDI and improve Ease of Doing Business in the country

Indian Special Economic Zones (SEZs) policy-2020

Posted by Advocatetanmoyon February 11, 2021February 11, 2021in Indian Economy

The Special Economic Zones (SEZs) policy was launched in April, 2000. The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005. The SEZ Rules, 2006 came into effect on 10th February, 2006

Summary of Economic Survey-2020-21

Posted by Advocatetanmoyon January 29, 2021January 29, 2021in Indian Economy

The Survey says, India’s mature policy response to this “once-in-a-century” crisis provides important lessons for democracies to avoid myopic policymaking and demonstrates the significant benefits of focusing on long-term gains. India adopted a unique four-pillar strategy of containment, fiscal, financial, and long-term structural reforms.

Status report of Indian Eight Core Industries for December 2020

Posted by Advocatetanmoyon January 29, 2021January 29, 2021in Indian Economy

Index of Eight Core Industries (Base: 2011-12=100) for December 2020 DATE: 29 JAN 2021 1- The Office of The Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of…

Indian received US$ 58.37 billion FDI inflow during April to November 2020

Posted by Advocatetanmoyon January 29, 2021in Indian Economy

Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country. The steps taken in this direction have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country.

Copper Coinage Act-1835

Posted by Advocatetanmoyon January 14, 2021June 15, 2021in Indian Economy

BE it enacted, that from the 20th day of December 1835, the following Copper Coins only, shall be issued from any Mint, within Presidency of Bengal

CURRENT SUPREME COURT JUDGMENTS

Somesh Chaurasia Vs. State of Madhya Pradesh & Anr-22/07/21 - There are distinct doctrinal concepts in criminal law namely (i) the grant of bail before trial or, what is described as the 'pre-conviction' stage; (ii) setting aside an order granting bail when the principles which must weigh in the decision on whether bail should be granted have been overlooked or wrongly applied; (iii) the post- conviction suspension of sentence under the provisions of Section 389(1); and (iv) the cancellation of bail on the ground of supervening events, such as the conduct of the accused during the period of bail, vitiating the continuance of bail.
Union of India Vs. Rajendra N. Shah & Anr-20/07/21 - These appeals raise an important question as to the vires of the Constitution (Ninety Seventh Amendment) Act, 2011 [the "Constitution 97th Amendment Act"] which inter alia introduced Part IXB under the chapter heading 'The Co-operative Societies'. The Constitution 97th Amendment Act was passed by the requisite majority of the Lok Sabha on 27.12.2011 and the Rajya Sabha on 28.12.2011.
K.P. Natarajan & Anr. Vs. Muthalammal & Ors-16/07/2021 - There is no dispute on facts and there is no escape from the conclusion that the respondents have been grossly negligent in defending the suit as well as the execution proceedings. But the fact remains that while the parties can afford to remain negligent, the Court cannot. The High Court has found, after summoning the records from the trial Court that as a matter of fact, the trial Court failed to appoint a guardian for the third respondent/minor in a manner prescribed by law.
Sachin Kashyap & Ors. Vs. Sushil Chandra Srivastava & Ors-15/07/2021 - Writ Petition having been filed for a particular cause and with a particular prayer cannot be expanded to cover within its ambit all the issues which may be of general or public importance without there being any pleadings or prayer with regard to a particular issue.

EXECUTIVE ORDERS

Executive Order on Promoting Competition in the American Economy-09/07/2021 - The American information technology sector has long been an engine of innovation and growth, but today a small number of dominant Internet platforms use their power to exclude market entrants, to extract monopoly profits, and to gather intimate personal information that they can exploit for their own advantage.
Blocking Property and Suspending Entry Into USA of Certain Persons Contributing to Destabilizing Situation in Western Balkans-EO-08/06/21 - All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in: any person determined by the Secretary of the Treasury, in consultation with the Secretary of State
Threat posed by military Industry of China- Biden Issued Executive Order-03/06/2021 - I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats, which have their source in whole or substantial part outside the United States, to the national security, foreign policy, and economy of the United States, and I hereby expand the scope of the national emergency declared in Executive Order 13959 to address those threats.
Improving the Nation’s Cybersecurity-EO 12/05/2021 - The United States faces persistent and increasingly sophisticated malicious cyber campaigns that threaten the public sector, the private sector, and ultimately the American people’s security and privacy. The Federal Government must improve its efforts to identify, deter, protect against, detect, and respond to these actions and actors. The Federal Government must also carefully examine what occurred during any major cyber incident and apply lessons learned. But cybersecurity requires more than government action.