Govt to study issuance of overseas bonds

The Prime Minister’s Office (PMO) has asked the finance ministry to conduct a study on issuance of overseas sovereign bonds in light of concerns raised by several experts. Finance Minister Nirmala Sitharaman had announced that the government would start raising a part of its gross borrowing programme from external markets in foreign currencies. She added that India’s sovereign external debt-to-GDP level is among the lowest globally at less than 5 per cent. The idea has been criticised by many as they argued that it could create long-term economic risks by exposing the government’s liabilities to currency fluctuations. The government intends to mobilise about Rs 70,000 crore through this route as part of diversification of the government’s resource mobilisation and leaving more funds for the private sector.

12.66 lakh new jobs created in May: ESIC

Around 12.66 lakh jobs were created in May, a tad higher than 11.15 lakh jobs in April this year, the Employees’ State Insurance Corporation (ESIC) payroll data showed. Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, a report released by the National Statistical Office said. The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and Pension Fund Regulatory and Development Authority. The report showed that gross new enrolments with the ESIC during September 2017 to March 2018 were 83.32 lakh. It showed that a net 9.86 lakh new enrolments with the EPFO were recorded during the month of May, which was slightly lower than 10.15 lakh in April this year.

UN nuclear watchdog names interim chief

The International Atomic Energy Agency (IAEA) has chosen Romanian diplomat Cornel Feruta as its acting director-general to replace Yukiya Amano, who died last week. The race to succeed Amano on a permanent basis will be particularly keenly watched given heightened international tensions over Iran’s nuclear activities. The agency is currently confronted with the unravelling of the 2015 nuclear accord with Iran, which began when President Donald Trump unilaterally pulled the US out of the agreement in May 2018. The IAEA is tasked with monitoring Iran’s nuclear activities to ensure they abide by the terms of the deal. Feruta, 43, who worked as a journalist before entering Romania’s diplomatic service in 1998, was one of Amano’s closest collaborators and had been serving as the agency’s chief coordinator.

PMAY(U): Nod for building 1.4 lakh houses

The Union government has approved the construction of nearly 1.4 lakh more houses under the Pradhan Mantri Awas Yojana, taking the number of houses to be built under the scheme to more than 85 lakh. The Union Housing and Urban Affairs Ministry said the approval was given in the 45th meeting of the Central Sanctioning and Monitoring Committee. It said sanction was given for building 1,40,134 more affordable houses for the benefit of urban poor. Uttar Pradesh was given the approval of 54,277 houses, while West Bengal got approval for 26,585 houses, followed by Gujarat (26,183), Assam (9,328), Maharashtra (8,499), Chhattisgarh (6,507), Rajasthan (4,947) and Haryana (3,808). A total of 492 projects will cost Rs 6,642 crore, out of which the Centre has approved a financial assistance of Rs 2,102 crore.

Ayushman Bharat: 10.74 cr families benefit

As many as 10.74 crore poor families have benefited from Ayushman Bharat, under which free treatment up to Rs 5 lakh can be availed, Health Minister Harsh Vardhan said in Lok Sabha on July 26. As on July 23, a total of 16,039 hospitals (8,059 private hospitals and 7,980 public hospitals) have been empanelled under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). “Under AB-PMJAY, states are free to add additional families at their own cost,” he said. Under the scheme, states have the flexibility to choose the mode of implementation. They can either implement it in insurance mode, or through a trust or in a mixed mode i.e. both the insurance and trust mode. States implementing the scheme through insurance mode can select insurance firms through open tender process.