Triple Five scheme

The Union Government set up a directorate, under Tea Board, which will serve small tea growers, Jyotiraditya M. Scindia, Union Minister of State for Commerce and Industry.
The initiative is now only for the tea sector. This could be extended to other plantation sectors, if needed, Scindia said.
He added that some of the areas of importance for the tea sector were re-plantation and rejuvenation, increase in exports, and tackling challenges such as labour shortage and higher mechanisation.
The government had come out with the Triple Five (555) scheme to increase Indian tea exports.
It is 555 scheme because, the focus would be on five markets with five major measures for five years. For the first phase, the government had sanctioned Rs.6.5 crore for this scheme.

Centre confident of disinvestment target

Kelkar Committee report pegged the receipts from disinvestment this fiscal at Rs.10,000 crore, way below the budgeted target of Rs.30,000 crore. But the government appeared confident in raising Rs.25,000-30,000 crore through sell-off of the Centre’s equity in public sector undertakings (PSUs) and thereby remain as close as possible to the fiscal deficit target of 5.1 per cent of GDP (gross domestic product) set for the financial year. The disinvestment is purely based on the equity market conditions, so if the condition is good government will be able to achieve the target.
Appreciation of rupee will help reduce subsidy bill and contain inflation, says Economic Affairs Secretary Arvind Mayaram. 

New chairman of the senior selection committee of BCCI

Sandeep Patil, former Indian has been appointed chairman of the senior selection committee for a maximum term of four years to be renewed each year by the BCCI.

He is part of a new five-member panel appointed by the Board, others being Roger Binny, Saba Karim, Vikram Rathour and Rajinder Singh Hans. Indian cricket will thus have a new set of selectors.
He replaces K. Srikkanth the former head. BCCI president N. Srinivasan explained the reasons for selecting this new panel.


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