On the weather forecasts, the PM was briefed that as per IMD forecasts, the heat wave is likely to continue in parts of Rajasthan, Gujarat and Madhya Pradesh.
Prime Minister Narendra Modi on Sunday chaired a meeting of top bureaucrats to review the 100-day agenda plan of the new government to be sworn after the Lok Sabha results are announced on June 4, official sources said. The meeting was one among the many others, which included those for reviewing post cyclone Remal situation in the northeast, inspecting the heatwave situation in the country, and preparations to celebrate World Environment Day at a large scale which the prime minister chaired on Sunday, as per official sources.
The meetings were held after major exit polls on Saturday predicted a landslide victory for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) in the Lok Sabha elections, hat were concluded on June 1. As many as ten exit polls said that the BJP-led NDA will win 350 seats or more in the 543-member lower house.
As per an official statement, the PM was briefed about the impact of the cyclone on the affected states during the meeting. The loss of human lives and damage to houses and properties due to landslides and floods in Mizoram, Assam, Manipur, Meghalaya and Tripura was also discussed. The PM said that the Centre will continue to extend full support to the states affected by cyclones.
On the weather forecasts, the PM was briefed that as per IMD forecasts, the heat wave is likely to continue in parts of Rajasthan, Gujarat and Madhya Pradesh. This year, the monsoon is likely to be normal and above normal in most parts of the country and below normal in parts of Peninsular India, as per the IMD said.
PM Modi had earlier asked different ministries to prepare a 100-day agenda for the new government. He had asked the Cabinet Ministers to prioritise programmes and initiatives for the first 100 days.
FE had reported earlier that the Narendra Modi government will launch the revamped rural and urban housing schemes in the first 100 days, if voted back to power for a third term, citing official sources.
It’s also likely to operationalise 12 new coal mines, near-exclusive transfer of coking coal blocks to steel companies willing to set up washeries via auction route, and a policy for the critical minerals. The coal ministry further aims to launch the “Request for Proposals” for gasification projects announced in FY24 and come up with a revised production plan for the country’s coal mines, officials had told FE earlier.
Moreover, the government has firmed up a plan to create a national financial information registry. The National Financial Information Registry (NFIR) Bill, which is ready for introduction in Parliament, seeks to provide a 360-degree information system that will be readily available to lending institutions to quicken the process and cost of credit.
NFIR will likely be jointly held by lenders. For individuals or enterprises which want a lower interest rate, the banks will ask for their consent to access data about their business volume, electricity consumed, GST paid, etc, from NFIR. If consent for data is not given, banks will likely ask for collateral and loans may also be costlier.
The new government may also amend the Insurance Act, 1938, and IRDAI Act, to allow composite licensing for an insurer to undertake life, general, or health insurance under one entity.
On the insolvency front, the new government may move a crucial bill to amend the Insolvency and Bankruptcy Code (IBC). The corporate affairs ministry is also aiming to streamline the existing rules under the Companies Act, 2013, bolster the National Company Law Tribunal (NCLT), and finalise a stricter governance framework for large unlisted firms, especially in the backdrop of alleged irregularities at firms like Byju’s.
The IBC amendments on the cards include introduction of cross-border and group insolvency mechanisms. The amendment also include removal of the interim moratorium provision for personal guarantors assets, introduction of project-wise insolvency under real-estate, and introduction of creditor-led resolution plan (CLRP) mechanism, a method to settle cases out-of-court.
Source:financialexpress.com