Reliance General Insurance has reported a net profit of Rs. 165 crore in 2017-18, up 27% from a year earlier. The gross premium written by the company increased by 28% to Rs. 5,122 crore.
GST Bumps Hit Export
Roadblocks such as the delay in GST refunds and the after effects of the note ban hit India's export prospects in 2017-18 amid a revival in global demand, mainly in the U.S. and the EU.
Exports grew 10% to $302.8 billion against expectations of $325 billion in the last fiscal.
Former finance Minister Yashwant Sinha quit the Bharatiya Janata Party (BJP). He said that he is taking 'sanyas' from any kind of party politics.
Sinha had joined the BJP in the mid-90s.
Yashwant Sinha held the portfolio of External Affairs Minister in the Atal Bihari Vajpayee government. He became the Finance Minister in the same government for the next term. The veteran leader's son Jayant Sinha is currently the Minister of State for Civil Aviation in Narendra Modi's cabinet.
Death Penalty of Raping Children up to 12 Years of Age
The Cabinet approved an ordinance to award death penalty to those who are convicted of raping children up to 12 years of age. In case of rape of a girl aged under 16 years, the minimum punishment to be awarded has been increased from 10 years to 20 years, which is extendable to life imprisonment. The minimum punishment to those raping a girl aged under 12 will be 20 years imprisonment. The Cabinet has also decided to put in place measures for speedy investigation and trial of rape cases. The ordinance will now be sent to the President for his approval.