Fugitive Economic Offenders Ordinance, 2018 (“the Ordinance”) lays down the measures to empower Indian authorities to attach and confiscate proceeds of crime associated with economic offenders and the properties of the economic offenders and thereby deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts. Details - The Ordinance makes provisions for a Court (‘Special Court’ under the Prevention of Money-laundering Act, 2002) to declare a person as a Fugitive Economic Offender. Who is a fugitive economic offender? A Fugitive Economic Offender is a person against whom an arrest warrant has been issued [...]
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So far Harit Mehta has created 82 blog entries.
The Reserve Bank of India (RBI), like many of its global peers, has decided to look into the possibility of issuing a central bank digital currency (CBDC). Such initiatives are in response to the recent popularity of cryptocurrencies and the mind space this phenomenon has acquired. What is currency? Currency is a subset of a broader economic concept of money. Currency is the “token” which facilitates movement of money, shifting its purchasing power from the current holder to its future holder. Currency facilitates the exchange feature of money, that is, payment. What is a digital currency? Currency, driven by technology, has [...]
It has been more than a decade since the ambitious project to digitise land records across the country, called Digital India Land Records Modernisation Programme or DILRMP, was launched. It has failed to keep the required pace. We can push it in mission mode using blockchain technology. Why digitisation of land records is required? The existing legal framework, based on the system of “presumptive ownership”, lends itself to litigation as land and property undergo several mutations over generations that are not always captured on public records. Moreover, data related to a specific parcel of land is stored in silo’ed government departments, [...]
In a significant defence policy reform notified on April 18, 2018, the government has revamped the existing defence planning system by establishing a Defence Planning Committee (DPC) under the chairmanship of the National Security Adviser (NSA). Details - This new institutional mechanism, set up as a permanent body, is intended to “facilitate a comprehensive and integrated planning for defence matters”. The new measure, arguably the boldest defence reform in decades, is likely to have a far reaching consequence on the way defence planning is undertaken and on defence preparedness. Composition of DPC - The Committee has a cross-section of members drawn [...]
The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi today gave its approval for restructured Centrally Sponsored Scheme of Rashtriya Gram Swaraj Abhiyan (RGSA). Background - The Finance Minister, in his budget speech for 2016-17, announced the launch of new restructured scheme of Rashtriya Gram Swaraj Abhiyan (RGSA), for developing governance capabilities of Panchayati Raj Institutions (PRIs) to deliver on the Sustainable Development Goals (SDGs). A Committee under the Chairmanship of the Vice Chairman-NITI Aayog was constituted to restructure the existing scheme of this Ministry as Rashtriya Gram Swaraj Abhiyan. The Committee held several meetings, consultations [...]
En route to UK for the Commonwealth Heads of Government Meeting (CHOGM) Summit, Prime Minister Narendra Modi will be visiting Sweden on April 16 & 17. First Indo-Nordic Summit - It will be a bilateral visit, with multilateral engagements, for the first Indo-Nordic Summit at Stockholm at the invitation of PM Stefan Lofven. Leaders from Denmark, Finland, Iceland and Norway along with their Swedish host will interact with PM Modi for an in-depth exchange in the field of clean technologies, environmental solutions, port modernisation, ship building, food processing, health, agriculture, infrastructure, skill development and innovations. Background - Indo-Swedish ties - Diplomatic [...]
In a recent report to the Rajya Sabha, the Parliamentary Standing Committee on Home Affairs has recommended that the government should immediately revive the idea of a National Counter Terrorism Centre (NCTC) as a unified counter terrorism agency. Background - The demand to tighten internal security architecture emerged after 2008 Mumbai terror attacks. It prominently included the creation of the National Investigation Agency (NIA), the National Intelligence Grid (Natgrid) as well as the revamp of National Security Guard (NSG). There was an ambitious plan to create a single overarching body for counter terrorism purposes by combining two distinct intelligence systems—predictive intelligence [...]
Last month, Prime Minister Narendra Modi spoke of India becoming a “Five Trillion Dollar” economy. Let us find out how soon we can reach the 5T mark? How can we become a 5T economy by 2025 with over 10 percent annual growth rate? What is the plan? Model farms - Transform agriculture by setting up a thousand world-class farms across the country. Most farmers do not have the capacity or means to benefit from the existing schemes. Time to try a new model where farmers learn to be productive by working in association with a professional firm which takes [...]
In pursuance of Finance Minister Arun Jaitley’s 2018-19 budget announcement related to an “industry friendly Defence Production Policy 2018”, the Department of Defence Production (DDP) of the Ministry of Defence (MoD) released a 14-page draft policy on March 21, 2018. It seeks to replace the 2011 defence procurement policy of India. Objectives - The broad mission of the draft policy is to promote the Make in India initiative in the defence sector and create a world-class arms manufacturing base, fulfilling not only the larger goal of self-reliance but also the requirements of friendly foreign countries. Draft Defence Production Policy [...]
Ministry of Women and Child Development (MWCD) implements several schemes supporting for the welfare of the women and children including SC/ST and minority of different age groups. Here we have listed all the major 8 Government schemes for women and children. Schemes for Women and Children - SwadharGreh Scheme - MWCD implements SwadharGreh Scheme which targets the women victims of unfortunate circumstances who are in need of institutional support for rehabilitation so that they could lead their life with dignity. The Scheme envisages providing shelter, food, clothing and health as well as economic and social security for the women victims of [...]