Highlights of this Issue
RBI increased repo rate from 4.4% to 4.9%
The standing deposit facility rate has been increased from 4.15% to 4.65%. The inflation projection for 2022-23 has been increased from 5.7% to 6.7%.
Current account deficit at 1.5% of GDP in the fourth quarter of 2021-22
India recorded a current account deficit of USD 13.4 billion (1.5% of GDP) in the fourth quarter of 2021-22, as compared to a deficit of 8.2 billion USD (1% of GDP) in the fourth quarter of 2020-21.
Cabinet approves Agnipath scheme for recruitment to armed forces
Under the scheme, candidates between the age of 17.5 to 21 years will be recruited to the armed forces for a period of four years.
Cabinet approves auction of 5G spectrum
The spectrum will be allocated for a period of 20 years, and may be surrendered after 10 years with no future liability for balance instalments.
Emergency use authorisation granted to mRNA COVID-19 vaccine, Gemcovac
DCGI granted emergency use authorisation to Gemcovac. It is developed by Gennova Biopharmaceuticals and is India’s first indigenous mRNA COVID-19 vaccine.
RBI allows the linking of credit cards to UPI
The Reserve Bank of India (RBI) has allowed the linking of credit cards to Unified Payments Interface (UPI) for making payments. Initially, only RuPay credit cards will be enabled with this facility.
Comments invited on draft amendments to the IT Rules, 2021
The draft Rules expand the obligations of intermediaries. They will be required to ensure compliance with Rules and causing users not to create, upload, or share prohibited content.
Rules regulating surrogacy and assisted reproductive technology notified
Surrogacy Rules specify necessary medical conditions, procedure, and insurance required to carry out a surrogacy. ART Rules specify the responsibilities of banks and clinics.
Criteria for appointment of Chief of Defence Staff changed
The government may appoint any serving or retired Air Marshal or Air Chief Marshal from the air force, Vice Admiral or Admiral from the navy, or Lieutenant General or General from the army as the CDS.
National Air Sports Policy released
The Ministry of Civil Aviation released a policy to regulate air sports such as parachuting and hang gliding. The Policy aims to enhance Indian ns in global air sports events and creates a four-tier governance structure.
Bharat New Car Assessment Programme to assess crash safety of cars released
Report on Promotion and Regulation of E-Commerce in India submitted
The Committee recommended measures to address anti-competitive practices in the industry such as lack of platform neutrality, deep discounting, and misuse of personal data
Macroeconomic Development
Tushar Chakrabarty (tushar@prsindia.org)
Repo rate and standing deposit facility rates increased to 4.9% and 4.65% respectively
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) increased the policy repo rate (the rate at which RBI lends money to banks) from 4.4% to 4.9%.[1] Other decisions of the Committee include:
Current account deficit at 1.5% of GDP in the fourth quarter of 2021-22
India recorded a current account deficit of USD 13.4 billion (1.5% of GDP) in the fourth quarter (January-March) of 2021-22, as compared to a deficit of 8.2 billion USD (1% of GDP) in the fourth quarter of 2020-21.[3],[4] In the third quarter (October-December) of 2021-22, the current account deficit was higher (USD 22.2 billion, which is 2.6% of GDP).
In the fourth quarter of 2021-22, the capital account registered a net outflow of USD 1.7 billion as compared to a net inflow of USD 12.3 billion in the corresponding quarter in 2020-21. This was due to an outflow of foreign portfolio investment of USD 15.2 billion in the fourth quarter of 2021-22 as compared to a net inflow of USD 7.2 billion in the fourth quarter of 2020-21.
Foreign exchange reserves decreased by USD 16 billion in the fourth quarter of 2021-22 as compared to an increase of USD 3.4 billion in the corresponding quarter of 2020-21.
Table 1: Balance of payments, Q4 2021-22 (USD billion)
|
Q4 |
Q3 |
Q4 |
Current Account |
-8.2 |
-22.2 |
-13.4 |
Capital Account |
12.3 |
22.5 |
-1.7 |
Errors and Omissions |
-0.7 |
0.1 |
-0.9 |
Change in reserves |
3.4 |
0.4 |
-16.0 |
Sources: Reserve Bank of India; PRS.
Defence
Omir Kumar (omir@prsindia.org)
Cabinet approves Agnipath scheme for recruitment to armed forces
The Union Cabinet approved the Agnipath scheme for recruitment to the armed forces.[5] Candidates recruited under the scheme will serve for four years and be known as Agniveers. Agniveers will form a separate rank under the armed forces. Key features of the scheme are:
Table 2: Benefits under Agnipath (in Rs)
Year |
Monthly package |
In hand (70% of monthly) |
Contribution to corpus fund |
Contribution to corpus fund by central government |
1 |
30,000 |
21,000 |
9,000 |
9,000 |
2 |
33,000 |
23,100 |
9,900 |
9,900 |
3 |
36,500 |
25,580 |
10,950 |
10,950 |
4 |
40,000 |
28,000 |
12,000 |
12,000 |
Sources: Press Information Bureau; PRS.
Criteria for appointment of Chief of Defence Staff changed
Tushar Chakrabarty (tushar@prsindia.org)
The central government changed the criteria for the appointment of the chief of defence staff (CDS) by amending the Air Force Regulations, 1964, Naval Ceremonial, the Conditions of Service and Miscellaneous Regulations, 1963, and the Army Rules, 1954.[8],[9],[10] Earlier, only the chiefs of the three armed services could be appointed as the CDS.[11] According to the amended Regulations, the government may appoint any serving or retired Air Marshal or Air Chief Marshal from the air force, Vice Admiral or Admiral from the navy, and Lieutenant General or General from the army as the CDS. For appointment of retired officers, the respective individuals should be less than 62 years of age. The term of the CDS can be extended until 65 years of age.
Finance
Tushar Chakrabarty (tushar@prsindia.org)
RBI allows the linking of credit cards to UPI
The Reserve Bank of India (RBI) has allowed the linking of credit cards to Unified Payments Interface (UPI) for making payments.[12] Initially, only RuPay credit cards will be enabled with this facility. UPI currently facilitates transactions by linking savings/current accounts through debit cards of users. The new facility will be available after the completion of the required system development.
RBI increases housing loan limits for co-operative banks
The Reserve Bank of India (RBI) increased the limit for individual housing loans that can be extended by urban co-operative banks (UCBs), state co-operative banks (SCBs), and district central co-operative banks (DCCBs).[13],[14] The limits have been revised for the first time since 2011 to reflect increase in housing prices.
Table 3: Revised housing loan limits per individual borrower (in Rs)
Category of Bank |
Existing Limit |
Revised Limit |
Tier-I UCBs (banks with deposits below Rs 100 crore) |
30 lakh |
60 lakh |
Tier-II UCBs (banks with deposits above Rs 100 crore) |
70 lakh |
140 lakh |
SCBs/DCCBs (net worth less than Rs 100 crore) |
20 lakh |
50 lakh |
SCBs/DCCBs (net worth of Rs 100 crore or more) |
30 lakh |
75 lakh |
Sources: Reserve Bank of India; PRS.
State co-operative banks and district central co-operative banks have been allowed to extend finance to residential housing for commercial real estate. This consists of loans to builders/developers for residential housing projects. These loans should be within the current total housing finance limit of 5% of total assets.
RBI releases report on reducing compliance burden on regulatory entities
The Reserve Bank of India (RBI) released the final report of the Regulations Review Authority.[15] The authority was set up by the RBI to suggest ways to reduce the compliance burden on regulated entities. It had recommended the withdrawal of 714 circulars in four tranches. The authority has also made recommendations to reduce the regulatory burden, streamline reporting mechanisms, and ease the accessibility of regulatory instructions.[16] Key recommendations include:
Communications
Saket Surya (saket@prsindia.org)
Cabinet approves auction of 5G spectrum
The Union Cabinet approved the proposal to conduct the auction of spectrum for 5G services.[17] A total of 72,098 megahertz (MHz) of spectrum in the following frequency bands will be up for auction: (i) low-frequency – 600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2300 MHz, (ii) mid-frequency – 3300 MHz, and (iii) high-frequency - 26 GHz. Key terms and conditions for allocation are: (i) allocation period will be 20 years, (ii) upfront payment of bid amount is not required, payment can be made in 20 equal annual instalments, (iii) recurring spectrum usage charges will not be applicable, and (iv) spectrum may be surrendered after 10 years with no future liability for balance instalments.
Telecom PLI to also incentivise design-led manufacturing
Omir Kumar (omir@prsindia.org)
The Department of Telecommunications (DoT) revised the Production Linked Incentive (PLI) Scheme for telecom and networking products to add a component for design-led manufacturing.[18],[19] The PLI scheme was launched in February 2021. It provides incentives to selected companies on incremental sale of telecom and networking products manufactured domestically. The design-led manufacturing component will incentivise designing and research and development of telecom products within India. Design led manufacturing include: (i) designing the system (software and hardware) in India, and (ii) hardware design, source code and Intellectual Property Rights (IPR) should be in India. Under the scheme, companies also need to make certain minimum investment in India during the scheme period to be eligible for incentive. Minimum investment required to become eligible for design-led component will be: (i) Rs 10 crore for MSMEs, and (ii) Rs 100 crore for other companies.
Further, the entire scheme has been extended by one year. Earlier, the scheme was available for five years from 2021-22. Beneficiaries may now choose 2021-22 or 2022-23 as the first year of availing incentives under the scheme.
Commerce
Tanvi Vipra (tanvi@prsindia.org)
Report on promotion and regulation of e-commerce submitted
The Standing Committee on Commerce (Chair: Mr. V.V. Reddy) presented its report on ‘Promotion and Regulation of e-commerce in India’.[20] Key observations and recommendations of the Committee are as follows:
For a PRS report summary, please see here.
Report on Implementation of the Districts as Export Hubs Initiative submitted
The Standing Committee on Commerce (Chair: Mr. V.V. Reddy) presented its report on ‘Implementation of Districts as Export Hubs including One District One Product Initiatives’.[21] The initiatives aim to link local producers in rural and remote districts with global supply chains, and bring them into the economic mainstream. The One District One Product initiative has been operationally merged with the Districts as Export Hubs (DEH) initiative. Key observations and recommendations of the Committee are as follows:
For a PRS report summary, please see here.
Consumer Affairs
Rakshita Goyal (rakshita@prsindia.org)
Guidelines for prevention of misleading advertisements issued
The Central Consumer Protection Authority issued the Guidelines for Misleading Advertisements and Endorsements for Misleading Advertisements, 2022.[22] The Guidelines have been issued under the Consumer Protection Act, 2019.[23] The Act defines misleading advertisements as those that: (i) falsely describe products or services, (ii) are likely to mislead about the nature, quantity or quality of the products, (iii) constitute unfair trade practice, and (iv) deliberately conceal important information.23 Key features of the 2022 Guidelines include:22
Petroleum and Natural Gas
Shashank Srivastava (shashank@prsindia.org)
Deregulation of sale of domestically produced crude oil approved
The Cabinet Committee on Economic Affairs approved the deregulation of sale of domestically produced crude oil.[24] It seeks to ensure marketing freedom for all exploration and production operators. The condition in the production sharing contracts to sell crude oil to the government, or its nominee, or government companies shall be waived off. Further, all exploration and production operators will be free to sell crude oil from their fields in domestic market.
Electronics & IT
Omir Kumar (omir@prsindia.org)
Comments invited on draft amendments to the IT Rules, 2021
The Ministry of Electronics and Information Technology released the draft amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 for public feedback.[25] The 2021 Rules specify due diligence requirements for intermediaries to claim exemption from liability for third-party content.[26] Intermediaries are entities which store or transmit data on behalf of other persons. They include social media sites, e-commerce companies, and internet service providers. Key proposed amendments are:
Comments are invited until July 6, 2022.
Space
Saket Surya (saket@prsindia.org)
Cabinet approves transfer of satellites to New Space India Limited and increase in its authorised share capital
The Union Cabinet approved the following proposals concerning the New Space India Limited (NSIL): (i) transfer of ownership of 10 in-orbit communication satellites from the government to the company, (ii) increase in its authorised share capital from Rs 1,000 crore to Rs 7,500 crore.[27] NSIL is a fully owned public sector enterprise under the Department of Space, set up in March 2019. NSIL is mandated to undertake end-to-end commercial space activities and function as a full-fledged satellite operator.
Road Transport and Highways
Tanvi Vipra (tanvi@prsindia.org)
Bharat New Car Assessment Programme for assessing crash safety of cars released
The Ministry of Road Transport and Highways released the Draft Central Motor Vehicles (Amendment) Rules, 2022.[28] The draft Rules have been published under the Motor Vehicles Act, 1988 and seek to amend the Central Motor Vehicles Rules, 1989.[29] The draft Rules seek to introduce the Bharat New Car Assessment Programme (BNCAP) for assessing crash safety performance of cars.[30]
Cars that weigh up to 3.5 tonnes and can carry up to eight passengers (excluding the driver) will be eligible for the assessment. The cars may be manufactured in the country or be imported.
Testing agencies that are accredited by the Ministry and have testing infrastructure, skilled workforce, and proven testing records will be authorised to assess the cars and provide them with a star rating.29 The star rating will be awarded on the basis of the car’s performance in three areas: (i) adult occupation protection, (ii) child occupation protection, and (iii) safety assist technologies. BNCAP will be a voluntary programme monitored by the BNCAP authority. The draft Rules are proposed to be enforced from April 1, 2023. As per the draft Rules, car manufacturers may send an application to the BNCAP authority for a star rating. The testing agency will then conduct the test, and the BNCAP authority will publish the results on a designated portal.
Comments on the draft Rules are invited until August 23, 2022.
Standing Committee submits Report on Issues relating to Road Sector
Omir Kumar (omir@prsindia.org)
The Standing Committee Transport, Tourism and Culture (Chair: Mr. T.G. Venkatesh) submitted its report on ‘Issues relating to Road Sector’.[31] Key observations and recommendations of the Committee are as follows:
Rules to collect fee for use of National Highways amended to charge fees based on actual distance travelled by a vehicle
Shubham Dutt (shubham@prsindia.org)
The Ministry of Road Transport and Highways amended the National Highways Fee (Determination of Rates and Collection) Rules, 2008.[32] The Rules empower the central government to collect fees for use of sections of national highways, permanent bridges, bypasses, and tunnels.[33] In India, tolling is generally under the open system, under which user fee is levied based on the length of the road under a project (generally 60 km).[34] The amendment enables the introduction of systems under which user fee is levied based on the actual distance travelled by a vehicle on a national highway or expressway (known as closed user fee collection system).
Railways
Saket Surya (saket@prsindia.org)
Policy to promote startups in railway technology announced
The Ministry of Railways announced the Indian Railway Innovation Policy.[35] The Policy seeks to promote innovation and startups in railway technology. Grants up to Rs 1.5 crore will be provided to selected startups in 11 specified problem areas. These include: (i) broken rail detection system, (ii) automation of track inspection activities, (iii) development of lightweight wagons, (iv) analytical tools for improving passenger services, and (v) use of geographical data for bridge inspection. Enhanced funding will be provided to scale up the deployment of successful prototypes. Intellectual property rights will remain with startups.
Standing Committee submits report on the Commission of Railway Safety
Shashank Srivastava (shashank@prsindia.org)
The Standing Committee on Transport, Tourism, and Culture (Chair: Mr T. G. Venkatesh) presented its report on ‘Commission of Railway Safety’.[36] The Commission of Railway Safety (CRS) is under the administrative control of the Ministry of Civil Aviation. It deals with the matters concerning the safety of rail travel and train operations and is charged with certain statutory functions laid down in the Railways Act, 1989. These functions include ensuring that any new railway lines conform to the standard and specifications prescribed by the Ministry of Railways. Key observations and recommendations of the Committee are as follows:
Shipping
Tushar Chakrabarty (tushar@prsindia.org)
Report on connectivity and tourist terminal facilities at ports submitted
The Parliamentary Standing Committee on Transport, Tourism, and Culture (Chair: Mr. T.G. Venkatesh) submitted its report on the ‘Connectivity and Tourist Terminal Facilities at Ports’.[37] Key observations and recommendations of the Committee include:
Energy
Saket Surya (saket@prsindia.org)
Rules to regulate payment delays by discoms notified
The Ministry of Power notified the Electricity (Late Payment Surcharge and Related Matters) Rules, 2022.[38] The Rules will apply to payments by distribution companies (discoms) to generating companies, inter-state transmission licensees, and trading licensees. The Rules have been notified under the Electricity Act, 2003. The Act regulates the electricity sector in India. Key features of the Rules include:
Rules to regulate open access to renewable energy notified
The Ministry of Power notified the Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022.[39] The Rules propose a framework for open access to renewable energy (from sources including solar, wind, hydro, and waste-to-energy). Open access means allowing a consumer to purchase electricity from a distribution company of its choice. Only consumers with demand or sanctioned load of 100 kilowatt and above will be eligible under this framework. The Rules have been notified under the Electricity Act, 2003, which regulates the electricity sector in the country. Key features of the Rules are:
Health
Shashank Srivastava (shashank@prsindia.org)
Emergency use authorisation granted to mRNA COVID-19 vaccine, Gemcovac
The Drugs Controller General of India (DCGI) granted emergency use authorisation to Gemcovac for restricted use in adults.[40] Gemcovac, developed by Gennova Biopharmaceuticals, is India’s first indigenous mRNA COVID-19 vaccine.
Apart from this, nine COVID-19 vaccines have been granted emergency use authorisation in India. These are: (i) Covishield, (ii) Covaxin, (iii) Sputnik-V, (iv) mRNA-1273 (Moderna vaccine), (v) Janssen, (vi) ZyCov-D, (vii) Covovax, (viii) Corbevax, and (ix) Sputnik light.[41],[42],[43],[44],[45],[46] These vaccines may be administered to all persons aged 18 years and above. Covaxin and Corbevax may be administered to children aged between 12-18 years as well.[47]
Assisted Reproductive Technology Rules notified
Rakshita Goyal (rakshita@prsindia.org)
The Ministry of Health and Family Welfare notified the Assisted Reproductive Technology Rules, 2022.[48] The Rules have been notified under the Assisted Reproductive Technology (ART) Act, 2021.[49] The 2021 Act seeks to provide for the regulation of Assisted Reproductive Technology services in the country. The Act defines ART to include all techniques that seek to obtain a pregnancy by handling the sperm or the oocyte (immature egg cell) outside the human body and transferring the gamete or the embryo into the reproductive system of a woman. Examples include gamete donation, in-vitro fertilisation and gestational surrogacy. ART services are provided through ART clinics and ART banks. ART clinics offer ART related treatments and procedures.49 ART banks store and supply gametes.49 Under the Act, every ART clinic and bank must be registered in the National Assisted Reproductive Technology and Surrogacy Registry.49
Key features of the 2022 Rules are:
Rules to regulate surrogacy notified
Rakshita Goyal (rakshita@prsindia.org)
The Ministry of Health and Family Welfare notified the Surrogacy (Regulation) Rules, 2022.[50] The Rules have been notified under the Surrogacy (Regulation) Act, 2021.[51] The Act defines surrogacy as a practice where a woman gives birth to a child for an intending couple/woman and agrees to hand over the child to them after the birth.49 An intending couple is one that has a medical indication necessitating surrogacy.49 An intending woman (Indian citizen, and a widow or divorcee between the age of 35 to 45 years) can also commission surrogacy.49
Agriculture
Shashank Srivastava (shashank@prsindia.org)
Cabinet approves minimum support prices for Kharif crops for 2022-23
The Cabinet Committee on Economic Affairs approved the Minimum Support Prices (MSPs) for Kharif crops for 2022-23 marketing season.[52] The MSP for paddy has been fixed at Rs 2,040 per quintal, an increase of 5.2% over the previous year’s MSP (Rs 1,940 per quintal). Table 1 below shows the MSPs notified for the marketing season 2022-23, compared to MSPs for 2021-22.
Table 4: MSPs approved for Kharif crops for the 2022-23 season (in Rs per quintal)
Crop |
2021-22 |
2022-23 |
Change (%) |
|
Paddy (Common) |
1,940 |
2,040 |
5.2% |
|
Paddy (Grade A) |
1,960 |
2,060 |
5.1% |
|
Jowar (Hybrid) |
2,738 |
2,970 |
8.5% |
|
Jowar (Maldandi) |
2,758 |
2,990 |
8.4% |
|
Bajra |
2,250 |
2,350 |
4.4% |
|
Ragi |
3,377 |
3,578 |
6.0% |
|
Maize |
1,870 |
1,962 |
4.9% |
|
Tur (Arhar) |
6,300 |
6,600 |
4.8% |
|
Moong |
7,275 |
7,755 |
6.6% |
|
Urad |
6,300 |
6,600 |
4.8% |
|
Groundnut |
5,550 |
5,850 |
5.4% |
|
Sunflower Seed |
6,015 |
6,400 |
6.4% |
|
Soyabean (yellow) |
3,950 |
4,300 |
8.9% |
|
Sesamum |
7,307 |
7,830 |
7.2% |
|
Nigerseed |
6,930 |
7,287 |
5.2% |
|
Cotton (Medium Staple) |
5,726 |
6,080 |
6.2% |
|
Cotton (Long Staple) |
6,025 |
6,380 |
5.9% |
Sources: Press Information Bureau; PRS.
Civil Aviation
Tanvi Vipra (tanvi@prsindia.org)
National Air Sports Policy released
The Ministry of Civil Aviation released the National Air Sports Policy, 2022.[53] The draft Policy was released in January 2022.[54] Air sports includes various sports activities which involve the medium of air such as parachuting and hang gliding. The Policy covers eleven such air sports.
The Policy envisions India as one of the top air sports nations by 2030. It aims to: (i) adopt international good practices in all aspects of air sports (safety, infrastructure, operations, maintenance, and training), (ii) enhance participation and success of Indian sportspersons in global air sports events, and (iii) promote design, development and manufacturing of air sports equipment in India. Key features of the Policy are as follows:
[1] Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) June 6-8, 2022, Reserve Bank of India, June 8, 2022, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR3336416D60D22514022BC8C197A992D837C.PDF.
[2] Monetary Policy Statement 2022-23, Resolution of the Monetary Policy Committee (MPC) April 6-8, 2022, Reserve Bank of India, April 8, 2022, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR3863D6040CE9CF4DE0AC9F6AF94F522C03.PDF.
[3] Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2021-22, Reserve Bank of India, June 22, 2022, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR408BOPB28AF96F2F5C44DFBEE0D855A06DAEC4.PDF.
[4] Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2020-21, Reserve Bank of India, June 30, 2021, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR4547652C1896054431A94C73B0DF2637EC8.PDF.
[5] “In a transformative reform, Cabinet clears ‘AGNIPATH’ scheme for recruitment of youth in the Armed Forces”, Press Information Bureau, Union Cabinet, June 14, 2022, https://pib.gov.in/PressReleasePage.aspx?PRID=1833765.
[6] “Extension of Entry Age: Agnipath Scheme”, Press Information Bureau, Ministry of Defence, June 17, 2022, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1834658.
[8] CG-DL-E-06062022-236355, Ministry of Defence, June 6, 2022, https://egazette.nic.in/WriteReadData/2022/236355.pdf.
[9] CG-DL-E-06062022-236354, Ministry of Defence, June 6, 2022, https://egazette.nic.in/WriteReadData/2022/236354.pdf.
[10] CG-DL-E-06062022-236353, Ministry of Defence, June 6, 2022, https://egazette.nic.in/WriteReadData/2022/236353.pdf.
[11] REGD. NO. D. L.-33004/99, Ministry of Defence, December 28, 2019, https://egazette.nic.in/WriteReadData/2019/214956.pdf.
[12] Statement on Developmental and Regulatory Policies, Reserve Bank of India, June 8, 2022, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR334FA21FB99132C4AD0BF67B8F3933BCEC3.PDF.
[13] Individual Housing loans – Enhancement in limits, Reserve Bank of India, June 8, 2022, https://rbidocs.rbi.org.in/rdocs/notification/PDFs/68UCBHOUSINGLOANDE90654D2B0844A58C0C638E70B9008A.PDF.
[14] Enhancement in Individual Housing Loan limits and credit to Commercial Real Estate - Residential Housing (CRE-RH), Reserve Bank of India, June 8, 2022, https://rbidocs.rbi.org.in/rdocs/notification/PDFs/67RCBCRERH6CC4B8D3644744EA8773889B8AA67615.PDF.
[15] Report of the Regulations Review Authority (RRA 2.0), Reserve Bank of India, June 13, 2022, https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR360RRA5163A77799924D18A962B0648D42C64B.PDF.
[16] Report of the Regulations Review Authority 2.0, Reserve Bank of India, June 2022, https://rbidocs.rbi.org.in/rdocs//PublicationReport/Pdfs/RRA20REPORT47A9026067B741129B2148CF0FC0D3C1.PDF.
[17] “Cabinet approves Auction of IMT/5G Spectrum”, Press Information Bureau, Union Cabinet, June 15, 2022, https://pib.gov.in/PressReleasePage.aspx?PRID=1834126.
[18] “Design-led manufacturing under Production Linked Incentive (PLI) Scheme for Promoting Telecom and Networking Products Manufacturing in India”, Press Information Bureau, Ministry of Communications, June 20, 2022,
[19] “Amendments in Guidelines for Production Linked Incentive (PLI) Scheme for Promoting Telecom & Networking Products Manufacturing in India”, Ministry of Communications, June 20, 2022, https://www.pli-telecom.udyamimitra.in/Default/ViewFile/?id=Amendment_file.pdf&path=MiscFiles.
[20] Report no. 172, Standing Committee on Commerce: ‘Promotion and Regulation of e-commerce in India’, Rajya Sabha, June 15, 2022, https://rajyasabha.nic.in/rsnew/Committee_site/Committee_File/ReportFile/13/159/172_2022_6_14.pdf.
[21] Report no. 117, Standing Committee on Commerce: ‘Implementation of Districts as Export Hubs (DEHs) including One District One Product (ODOP) Initiatives’, Rajya Sabha, June 15, 2022, https://rajyasabha.nic.in/rsnew/Committee_site/Committee_File/ReportFile/13/159/170_2022_6_14.pdf.
[22] F. No. J-25/4/2020- CCPA, Central Consumer Protection Authority, June 9, 2022, https://consumeraffairs.nic.in/sites/default/files/file-uploads/latestnews/CCPA%20Notification.pdf.
[23] The Consumer Protection Act, 2019, https://egazette.nic.in/WriteReadData/2019/210422.pdf.
[24] Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil, Ministry of Petroleum and Natural Gas, Press Information Bureau, June 29, 2022, https://pib.gov.in/PressReleasePage.aspx?PRID=1837895.
[25] Press Note dated June 6, 2022, Ministry of Electronics and Information Technology, June 6, 2022, https://www.meity.gov.in/writereaddata/files/Press%20Note%20dated%206%20June%2022%20and%20Proposed%20draft%20amendment%20to%20IT%20Rules%202021.pdf.
[26] The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 under the Information Technology Act, 2000, https://prsindia.org/files/bills_acts/bills_parliament/2021/Intermediary_Guidelines_and_Digital_Media_Ethics_Code_Rules-2021.pdf.
[28] “CG-DL-E-24062022-236795”, Gazette of India, Ministry of Road Transport and Highways, June 24, 2022, https://egazette.nic.in/WriteReadData/2022/236795.pdf
[29] Central Motor Vehicles Rules, 1989, https://morth.nic.in/central-motor-vehicles-rules-1989-1.
[30] AIS-197: Bharat New Car Assessment Program, Ministry of Road Transport and Highways, June 26, 2022, https://morth.nic.in/sites/default/files/ASI/Draft%20AIS%20197%20.pdf.
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