NRI Current Affairs - 2019

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Union Government to allow Aadhaar enrolments of NRIs, PIOs, OICs

Union Government has decided to allow Aadhaar enrollment of Persons of Indian Origin (PIOs), Overseas Citizen of India (OCIs) and Non-Resident Indians (NRIs).

It was announced by Union Planning Minister Rao Inderjit Singh in written reply to Lok Sabha.

This move will help all persons on the Indian soil (including resident Indian, OCI/PIO, NRIs and visa holding visitors) to authenticate their identity digitally.

In this regard Unique Identification Authority of India (UIDAI) is working on the policy for Aadhaar enrolment of NRIs, PIOs and OICs as per directions from the government. However, no time frame has been formulated at this stage for achieving the goal.

Presently, UIDAI is providing Aadhaar number all residents including Indian national and foreigners with valid visas who are enrolling for it.

About Aadhaar number

  • Union Government had established UIDAI in January 2009 to issue Aadhaar numbers to all citizens which can be verified digitally using the database.
  • Aadhaar  is a 12-digit unique identity number which helps enrolled persons in availing various services and benefits provided by the government.
  • It is considered the world’s largest national identification number project.
  • It is also valid as know your customers (KYC) document for various services including banking, cooking gas subsidy, government scholarships, telecom, vehicle registration and driving licence, public distribution system and pension.
  • It should be noted that UIDAI was earlier attached to Planning Commission of India and now it is attached to the NITI Aayog. So far it has allotted around 89.43 Aadhaar numbers to Indian citizens.

Month: Categories: Governance & Politics


Union Cabinet gives nod to Composite Foreign Investment Cap

Union Cabinet has given nod to introduce composite foreign investment cap in a bid to streamline the Foreign Direct Investment (FDI) structure.

Decision in this regard was taken during Union Cabinet meeting chaired by Prime Minister Narendra  Modi in New Delhi.

This move will help government to club all forms of overseas investments such as FDI, Non-resident Indians (NRIs), foreign institutional investors (FIIs) and other foreign investments to define sectoral limits as a composite cap.

Present policy has different caps for separate investment categories like FDI, FII and NRIs. The proposed sectors for composite foreign investment cap are agriculture, mining, tea, broadcasting, airports, media, retail (single brand and multi-brand), asset reconstruction companies, e-commerce, banking, insurance and commodity exchanges.

Thus it will simplify the FDI policy with a view to attract foreign investments and also improving ease of doing business in India.

Apart from this decision, Cabinet Committee on Economic Affairs (CCEA) also gave its approval for development of 6 lanning of Eastern peripheral expressway in Uttar Pradesh and Haryana.

The cost is estimated for this project is to be 7,558 crore rupees including 1,759 crore rupees for land acquisition, rehabilitation and resettlement activities.

The main objective of this project is to expedite the movement of infrastructure in the states of Uttar Pradesh and Haryana. Its development will also help in uplifting the socio-economic condition of the concerned regions of the state.

Month: Categories: Business, Economy & Banking