Page 11 - Banking Finance JANUARY 2017

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INDUSTRY

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Pranab alert on 'jobless Govt slashes tax on PoS machines
growth' The government has slashed levies on Point of Sale (PoS) machines that are be-
ing used by merchants in the wake of currency crunch
President Pranab post demonetisation, thus making them cheaper by
Mukherjee has about 16.5%. A notification to this effect was tabled
said the country by finance minister Arun Jaitley in the Lok Sabha amid
is witnessing "job- uproar over the demonetisation issue.
less growth" add-
ing that "mere UP announces compensation for casualties, due to
statistical enhancement of the GDP demonetisation
is not satisfactory".
Uttar Pradesh has become the first state in the country to
'Centre Citizen Portal' announce compensation for the families of those who died
standing in bank or ATM queues or by the impact of
for cyber crime com- demonetisation after November 8.
plaints Chief Minister Akhilesh Yadav have announced an ex gratia
The Centre of Rs 5 lakh to the family of Razia, widow of a daily-wager
has decided who committed suicide after she was unable to exchange
to set up a her old currency. The government also announced Rs 2 lakh financial assistance
'Centre Citizen Portal' where people to the family of those who died while standing in queues to exchange old notes.
can file a cyber crime complaint with- Centre waives off import duty on wheat
out visiting police station.
The Centre has waived the import duty on wheat within
New reforms in apparel months of lowering it to 10 per cent as retail prices show
sector little signs of abating. The duty has been waived for an in-
definite period, according to an official notification placed
The govern- in Parliament. Traders said the move could make Austra-
ment has ap- lian wheat cheaper by $23 per tonne and Ukrainian wheat
proved reforms by $10 per tonne.
in the apparel made-ups sector, aimed
at creating large-scale direct and in- Delhi Police seizes 1.71 lakh DL for breaching rules
direct employment for up to 11 lakh Delhi police have seized around 1.71 lakh driving licences for jumping the red
persons over the next three years and light, speeding and other traffic offences in one year of the implementation of a
boosting exports. The decision was Supreme Court appointed panel on road safety. A policy officer said the maxi-
taken at a meeting of the cabinet. mum numbers of driving licences were seized for jumping the red light.

BANKING FINANCE | JANUARY | 2017 | 11

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