There are no plans to introduce new Rs 1,000 notes, said Economic Affairs Secretary Shaktikanta Das today, putting an end to speculation on the issue. "No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes," tweeted Das today after some media outlets quoted "senior government officials" yesterday saying quite the opposite. Das also addressed the issue of the ongoing cash shortage+ at ATMs, still, more than two months after the introduction of new Rs 500 and Rs 2,000 notes.
In a major breather to Micro, Small and Medium Enterprises (MSMEs), the state budget for 2017-18 announced a special package of Rs1,000 crore for the sector. Deputy chief minister Nitin Patel, who also holds the finance portfolio, also came up with a special package for conventional skilled workers. The special package offers enhanced assistance to MSMEs for market development, technology acquisition, raising finance through SME exchanges, additional assistance for power connections and capital and rental charges.
The Supreme Court upheld on Tuesday a decision by the National Consumer Disputes Redressal Commission (NCDRC) to allow flat buyers to jointly approach it in case of a dispute with a builder, allowing home buyers to leapfrog lower courts and approach the apex consumer rights body. Disputes between buyers and sellers need to be first raised at state- or district-level consumer rights panels, where they are usually stuck for a while. The national panel can be approached only for appeals or if the total value of the disputed deal crosses Rs 1 crore.