Daily News - Tuesday, 25 June 2024

Govt’s generic pharmacy stores to stock top 200 medicines (mint)

The Indian government plans to stock the 200 most used drugs at Pradhan Mantri Jan Aushadhi Kendras to ensure 24/7 availability, targeting 15,000 stores by the end of 2024 and 25,000 by 2026-27. These stores, which currently exceed 12,000 and offer 50-90% cheaper medicines than branded versions, aim to provide affordable, quality medications to the poor by procuring from WHO-GMP-certified companies and conducting rigorous testing. The Pharmaceuticals and Medical Devices Bureau of India (PMBI) is responsible for ensuring these goals, with average monthly sales per outlet reaching up to ₹1.50 lakh.

Finance panel to address freebies, green cover (mint)

The 16th Finance Commission, chaired by Arvind Panagariya, will tackle the distribution of freebies and compensation for green cover, with an initial focus on Himachal Pradesh, where costs are high due to difficult terrain. In discussions with Himachal's government, Panagariya highlighted the state's financial challenges, including a significant debt inherited from the previous administration and the high costs associated with the old pension scheme and monsoon-related issues. The commission, maintaining neutrality since 1952, plans to visit other states to gather information before forming its recommendations.

Centre imposes stock-holding limit on wheat to check hoarding, prices (Business Standard)

The central government has re-imposed stock-holding limits on wheat to curb prices and prevent hoarding, despite an expected wheat production of over 112 million tonnes in FY24 and sufficient reserves. Retail outlets and big chain retailers can stock up to 10 tonnes of wheat, while traders and wholesalers are capped at 3,000 tonnes each, with processors allowed 70% of their monthly installed capacity for the remaining months of 2024-25. Wheat and wheat flour prices have risen, prompting this action, and the government remains vigilant on price stability, also noting improvements in tur prices and optimistic projections for onion production.

Deep tech startup policy likely to get Cabinet nod soon (Financial Express)

The National Deep Tech Startup Policy (NDTSP) is set to be presented to the Cabinet soon for approval, aiming to support early-stage technologies and their commercialization. The policy, which has cleared the Empowered Technology Group (ETG), will provide guidelines for ministries to create schemes for startups working on advanced technologies, though it will not have its own budget or funding plan. With over 10,000 deep tech startups in India, largely funded internationally, the policy proposes a dedicated capital fund and measures to reduce costs through exemptions and reduced import tariffs.

Trade unions seek higher I-T exemption limit (Financial Express)

Trade unions have proposed significant demands ahead of the Budget, including raising the income tax exemption limit to ₹10 lakh annually and doubling the MGNREGA work guarantee to 200 days per family. They've also called for extending social security coverage to 93% of unorganised sector workers, constituting an 8th Pay Commission, and restoring the old pension scheme. Additionally, they seek an end to contractual employment in government departments and PSUs, imposing an additional 2% tax on the super-rich for social security funding, and prioritising rural MSMEs under production-linked incentives for job creation.