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Government hooks inflation target at 4% for 5 years




Government today notified 4 percent inflation target with a range of plus or minus 2 percent for the next five years under the monetary policy framework agreement with the Reserve Bank.

A notification tabled in the Lok Sabha fixed inflation target at 4 percent with upper tolerance level of 6 percent, while the lower limit could be fixed at 2 percent.

“In view of the powers conferred by Section 45ZA of the RBI Act, 1934, the central government, in consultation with the bank (RBI), hereby notifies the inflation target beginning from the date of publication of this notification and ending on March 31, 2021,” the notification said.

The announcement is seen as an important strategy of the inflation-fight policy pioneered by the outgoing RBI Governor Raghuram Rajan.

The government and the RBI had in early 2015 entered into a monetary policy framework agreement, under which RBI would set the policy interest rates and aim to bring inflation below 6 per cent by January 2016.

Against this backdrop, the central government had also amended the RBI Act through Finance Act, 2016. However, the inflation target was not mentioned.

MPC will set interest rates by majority, with a casting vote for the central bank governor in the event of a tie.

The government has kicked off the process of setting up an MPC, which will take over the job of interest rate setting from the central bank. The rates would be based on inflation target set up by the government and RBI.

Wefornews Bureau


IAF fake recruitment website found, FIR filed



New Delhi, March 22: The Indian Air Force on Thursday filed an FIR against unidentified persons for creating a fake website to provide employment opportunities in the IAF.

The fake IAF website was identified by one of the officers of IAF and hence a complaint was registered on March 16, under the Information Technology Act, ANI reported.

According to FIR, the reprobates, who created the fake website called applications for various posts.

Wing Commander Manjit Singh, said “The application form said it was for a vacancy in the ‘civilian group C posts in the Air Force record offices.”

Singh posted at the Army headquarters in New Delhi immediately noted down the website’s name “”.


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PM Awas Yojana: Only 8 percent houses built in 3 years



New Delhi, March 22: The Pradhan Mantri Awas Yojana (PMAY) for urban areas which promised “housing for all” by 2022, has barely completed target of  8%, or 3 lakh of the 40.6 lakh houses in last three years.

However, the condition of the rural version of PMAY is better, as under this scheme 30%, or 28.8 lakh houses, have been completed against the 95.4 lakh targeted by the rural development ministry in 15 months since the plan was inaugurated, the Times of India reported.

According to data on the websites of the urban affairs and rural development ministries, on March 5 this year, the ministry had considered 8,341 projects under PMAY involving 40.6 lakh houses.

But only 3.4 lakh houses have been constructed so far. while work is underway on 18 lakh or about 44% of the target.

However, the data doesn’t show the stage of development for these houses.

Among those completed, about 3 lakh houses are occupied.

On June 25, 2015, the PMAY (Urban) was launched by Prime Minister Modi aiming to build two crore houses for the poor in urban areas by 2022.

Responding to TOI’s questions, the joint secretary and mission director, housing for all, in the urban housing ministry stated, “Keeping in view that housing projects take 18-24 months to complete (in case of projects under two categories), we can expect that in the financial year 2018-19, the pace of PMAY (U) will pick up quite significantly”.

While, PMAY (Rural) was inaugurated on November 20, 2016, and projected to build 1 crore new houses by March 31, 2019. Ou of which, 51 lakh houses were to be completed by end-March 2018. Thus, the 27.7 lakh actually completed are only about 54% of the target at present.


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Delhi Budget 2018-19: 26 % allocation for Education, Health gets 12.7 %



New Delhi, March 22: Delhi Finance Minister Manish Sisodia on Thursday presented Budget for 2018-19 before the assembly with emphasis on environment and health. 

While announcing the Budget, Sisodia said it estimates are pegged at Rs 53,000 crore which is 19.45 percent more than the revised budget estimates of Rs 44,370 crore for the last fiscal.

Sisodia also described the budget a “Green Budget” and vowed of round-the-year, real-time pollution study.

The study will be a part of a 26-point programme to control pollution in Delhi.

“We are going to thread 26 programmes and schemes of transport, power, environment and PWD for devising a unified system of pollution control, bringing down levels of different pollutants,” he added.

Below we have enlisted top announcements of the Budget 2019-19:

Rs 6,729 crore has been allocated for the health sector, which is 12.7 percent of the total

Project to install 200-250 CCTVs will be completed by June 2019

Rs 100 crore sanctioned for free WiFi scheme

Rs 1500 crore allocated for infrastructure development of unauthorised colonies.

1000 electric buses to be on roads by March 2019

Rs 403 crore had been allocated for Mohalla Clinics and Polyclinics. Also, mobile van clinics were to be established with Rs 15 crore

For Infrastructure development Rs. 1,500 crore allocated

1,000MW of solar and wind power will be bought

Tablets will be provided to all teachers in government schools in a bid to help them keep an online record of students

Twenty-six percent of the Rs 53,000 crore has been allocated for education


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