General Affairs
Centre Needs to Tread Cautiously on Netaji Files: Venkaiah Naidu
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HYDERABAD: The Centre will take a decision on declassification of files related to Netaji Subhas Chandra Bose only after studying its impact on India's relations with other countries, Union Minister M Venkaiah Naidu said today.
"The West Bengal government has made public certain confidential files related to Netaji. It is good... it needs to be studied what is there in those files before the Centre takes such a decision, its impact on the international community, our relations with other countries, neighbouring countries, needs to be studied.
"The Centre will have to take a final decision after studying that. I personally feel that people of the country have the right to know the truth on the Netaji issue.
Government will think of it and decide how and when to do it," the Parliamentary Affairs minister told reporters here on the sidelines of an event.
Seventy years after his mysterious disappearance, 64 files running into nearly 13,000 pages were declassified yesterday which shows some of Netaji's family members were spied upon in independent India.
However, there was no clarity on whether Netaji Bose died in an air crash in 1945 as is widely believed.
Tucked away in police and government lockers for decades, the files containing 12,744 pages were declassified by West Bengal government in the presence of Bose's family members, who have been demanding that information on Netaji be made public.
The files have been kept inside glass cases at the Kolkata Police Museum before they are made accessible to the public on Monday.
West Bengal Chief Minister Mamata Banerjee has demanded that the Centre declassify files pertaining to the nationalist leader and said that it is unfortunate that the mystery of Netaji's disappearance has remained unresolved for 70 years.
Some of Netaji's family members have rejected the theory that he had died in a plane crash in Taihoku airport in Taiwan on August 18, 1945.
HYDERABAD: The Centre will take a decision on declassification of files related to Netaji Subhas Chandra Bose only after studying its impact on India's relations with other countries, Union Minister M Venkaiah Naidu said today."The West Bengal government has made public certain confidential files related to Netaji. It is good... it needs to be studied what is there in those files before the Centre takes such a decision, its impact on the international community, our relations with other countries, neighbouring countries, needs to be studied.
"The Centre will have to take a final decision after studying that. I personally feel that people of the country have the right to know the truth on the Netaji issue.
Seventy years after his mysterious disappearance, 64 files running into nearly 13,000 pages were declassified yesterday which shows some of Netaji's family members were spied upon in independent India.
However, there was no clarity on whether Netaji Bose died in an air crash in 1945 as is widely believed.
Tucked away in police and government lockers for decades, the files containing 12,744 pages were declassified by West Bengal government in the presence of Bose's family members, who have been demanding that information on Netaji be made public.
The files have been kept inside glass cases at the Kolkata Police Museum before they are made accessible to the public on Monday.
West Bengal Chief Minister Mamata Banerjee has demanded that the Centre declassify files pertaining to the nationalist leader and said that it is unfortunate that the mystery of Netaji's disappearance has remained unresolved for 70 years.
Some of Netaji's family members have rejected the theory that he had died in a plane crash in Taihoku airport in Taiwan on August 18, 1945.
'PM Modi Now Only Meets People Wearing Suit Boot': Rahul Gandhi in Bihar
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PATNA: Congress Vice President Rahul Gandhi took on Prime Minister Narendra Modi today in his first rally in poll-bound Bihar, saying that he only met people wearing 'suits and boots' and has stopped talking to the country's poor.
"He apparently used to be a tea seller. I don't know if that is true. But today he only meets people in suits and boots," Mr Gandhi said at the rally in Bihar's Ramnagar town in West Champaran that goes to vote next month.
Mr Gandhi invoked Mahatma Gandhi to say that while the Indian independence movement leader worked amid the poor and the labourers in the region, PM Modi only met people who wear suit boot and not the poor and the oppressed.
"Your land which costs lakhs today will be worth crores tomorrow. Modi ji and his friends want to take it away from you in the name of development," he said.
Mr Gandhi also said that the Prime Minister had promised to bring back unaccounted wealth or 'black money' of the rich, stashed away in foreign bank accounts, but that hasn't happened.
"He had promised each of us Rs 15 lakhs. He had promised 2 crore jobs. He had promised to double the minimum support price for farmers. Has any of that happened? No," he said to loud cheers from the crowd.
Mr Gandhi's rally today was a solo act and not entirely by choice. First Lalu Yadav, and then Nitish Kumar, both allies of the Congress, made it clear that they cannot attend the public meeting. Their parties said the two leaders are busy with allotting seats for the polls.
But when he arrived in Patna this afternoon, he was received by the chief minister. On stage, he sat next to Lalu Yadav's son Tejaswi.
The Congress, partnering with the Janata Dal (United) and the Rashtriya Janata Dal, is facing a stiff battle against the BJP that is allying with the Lok Janshakti and the Hindustani Awam Morcha.
PATNA: Congress Vice President Rahul Gandhi took on Prime Minister Narendra Modi today in his first rally in poll-bound Bihar, saying that he only met people wearing 'suits and boots' and has stopped talking to the country's poor."He apparently used to be a tea seller. I don't know if that is true. But today he only meets people in suits and boots," Mr Gandhi said at the rally in Bihar's Ramnagar town in West Champaran that goes to vote next month.
Mr Gandhi invoked Mahatma Gandhi to say that while the Indian independence movement leader worked amid the poor and the labourers in the region, PM Modi only met people who wear suit boot and not the poor and the oppressed.
Mr Gandhi also said that the Prime Minister had promised to bring back unaccounted wealth or 'black money' of the rich, stashed away in foreign bank accounts, but that hasn't happened.
"He had promised each of us Rs 15 lakhs. He had promised 2 crore jobs. He had promised to double the minimum support price for farmers. Has any of that happened? No," he said to loud cheers from the crowd.
Mr Gandhi's rally today was a solo act and not entirely by choice. First Lalu Yadav, and then Nitish Kumar, both allies of the Congress, made it clear that they cannot attend the public meeting. Their parties said the two leaders are busy with allotting seats for the polls.
But when he arrived in Patna this afternoon, he was received by the chief minister. On stage, he sat next to Lalu Yadav's son Tejaswi.
The Congress, partnering with the Janata Dal (United) and the Rashtriya Janata Dal, is facing a stiff battle against the BJP that is allying with the Lok Janshakti and the Hindustani Awam Morcha.
Mobile Internet Services Banned in Gujarat After Hardik Patel's Detention
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AHMEDABAD: In a bid to curb spread of rumours after detention of Patel community leader Hardik, the Gujarat administration today banned mobile Internet services across the state.
"We have decided to ban mobile Internet service in the state to tackle the law and order situation and to curb the rumours across Gujarat for an indefinite period," Director General of Police PC Thakur told PTI.
Hardik Patel, who has been agitating to get reservation under OBC quota for his community, was today detained by the Surat city police ahead of his Ekta Rally.
According to a notification issued by Ahmedabad city Police Commissioner Shivanand Jha, mobile Internet services have been banned from this afternoon to 12 PM on September 20.
Mr Jha in the notification said the action has been taken to curb rumours after Hardik Patel's detention and to control the law and order situation.
Soon after the 22 year-old's detention, Surat district collector issued notification putting ban on mobile Internet services for 24 hours.
In Rajkot also, mobile Internet services have been prohibited for a week, said District Collector Manisha Chandra.
Gujarat had witnessed violence after Hardik Patel's detention on August 25, in which ten people were killed in the state and property of crores was damaged as well.
Then too, the state administration had banned mobile Internet services for around a week to prevent rumours.
AHMEDABAD: In a bid to curb spread of rumours after detention of Patel community leader Hardik, the Gujarat administration today banned mobile Internet services across the state."We have decided to ban mobile Internet service in the state to tackle the law and order situation and to curb the rumours across Gujarat for an indefinite period," Director General of Police PC Thakur told PTI.
Hardik Patel, who has been agitating to get reservation under OBC quota for his community, was today detained by the Surat city police ahead of his Ekta Rally.
Mr Jha in the notification said the action has been taken to curb rumours after Hardik Patel's detention and to control the law and order situation.
Soon after the 22 year-old's detention, Surat district collector issued notification putting ban on mobile Internet services for 24 hours.
In Rajkot also, mobile Internet services have been prohibited for a week, said District Collector Manisha Chandra.
Gujarat had witnessed violence after Hardik Patel's detention on August 25, in which ten people were killed in the state and property of crores was damaged as well.
Then too, the state administration had banned mobile Internet services for around a week to prevent rumours.
3 Maoists Gunned Down by Security Forces in Odisha Encounter
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BHUBANESWAR: Three Maoists were killed in a gunfight with security forces in Odisha today, police said.
The gun battle took place in Malkangiri district's Bhejaguda forest when members of District Voluntary Force (DVF) located a secret camp of Maoists during a search operation.
Malkangiri Superintendent of Police Mitrabhanu Mohapatra said the security forces retaliated when the Maoists opened fire on them.
Police sources said one of the killed Maoists has been identified as Sunadhar.
The state government had announced a Rs. 5 lakh bounty on his head.
BHUBANESWAR: Three Maoists were killed in a gunfight with security forces in Odisha today, police said.The gun battle took place in Malkangiri district's Bhejaguda forest when members of District Voluntary Force (DVF) located a secret camp of Maoists during a search operation.
Malkangiri Superintendent of Police Mitrabhanu Mohapatra said the security forces retaliated when the Maoists opened fire on them.
Police sources said one of the killed Maoists has been identified as Sunadhar.
The state government had announced a Rs. 5 lakh bounty on his head.
'Indian Government, Firms Need to Set Pace of Nuclear Deal Implementation': Nisha Biswal
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WASHINGTON, UNITED STATES: Nearly nine months after the "breakthrough understanding" on India-US civil nuclear deal was achieved, a top Indian-American official has said that now it is up to Indian government entities and private companies to set the pace for the historic agreement's implementation.
"What remains is the commercial negotiations on what is the business proposition that companies can move forward on.
And that is going to move forward on its own pace," Assistant Secretary of State for South and Central Asia Nisha Desai Biswal said.
Noting that discussions are proceeding between US firms and Nuclear Power Corporation of India Ltd (NPCIL) and other relevant entities, Ms Biswal said the US is encouraged that they are continuing to pursue those negotiations and discussions.
"It is going to follow the pace that the business / commercial side pursues and it is going to be for the business and companies to manage the pace of that," she said in response to a question.
"Would we like to see its conclusion and its implementation? Of course, we would. But we understand that this is a very complex undertaking, both for the government of India and for the companies to move forward," Ms Biswal said.
According to Ms Biswal, the breakthrough understanding, that were achieved during President Barack Obama's unprecedented Republic Day visit this year, removed policy constraints in trying to address critical pieces such as ensuring India was committed to and consistent with international conventions on liability and the international convention on supplementary compensation.
"India's affirmation that its clause were consistent and its commitment that it would seek to ratify the CSC was a very important issue on addressing the concerns on liability. The understandings that were achieved with respect to tracking of fissile material were very important in addressing those concerns," she said.
Ms Biswal said ratification of the Convention on Supplementary Compensation for Nuclear Damage (CSC) would be a very important signal.
"The insurance pool are angling forward and that has been a very important aspect, but now it is really going to be about pulling together the commercial deal that can move," she said.
"That is going to be through private negotiations in which the US government has no role," Ms Biswal said.
WASHINGTON, UNITED STATES: Nearly nine months after the "breakthrough understanding" on India-US civil nuclear deal was achieved, a top Indian-American official has said that now it is up to Indian government entities and private companies to set the pace for the historic agreement's implementation."What remains is the commercial negotiations on what is the business proposition that companies can move forward on.
And that is going to move forward on its own pace," Assistant Secretary of State for South and Central Asia Nisha Desai Biswal said.
"It is going to follow the pace that the business / commercial side pursues and it is going to be for the business and companies to manage the pace of that," she said in response to a question.
"Would we like to see its conclusion and its implementation? Of course, we would. But we understand that this is a very complex undertaking, both for the government of India and for the companies to move forward," Ms Biswal said.
According to Ms Biswal, the breakthrough understanding, that were achieved during President Barack Obama's unprecedented Republic Day visit this year, removed policy constraints in trying to address critical pieces such as ensuring India was committed to and consistent with international conventions on liability and the international convention on supplementary compensation.
"India's affirmation that its clause were consistent and its commitment that it would seek to ratify the CSC was a very important issue on addressing the concerns on liability. The understandings that were achieved with respect to tracking of fissile material were very important in addressing those concerns," she said.
Ms Biswal said ratification of the Convention on Supplementary Compensation for Nuclear Damage (CSC) would be a very important signal.
"The insurance pool are angling forward and that has been a very important aspect, but now it is really going to be about pulling together the commercial deal that can move," she said.
"That is going to be through private negotiations in which the US government has no role," Ms Biswal said.
Business Affairs
FM Arun Jaitley says 7 per cent GDP growth not enough
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Finance Minister Arun Jaitley said 7 per cent growth rate recorded in the first quarter of current fiscal is not just enough, though many thought it was a fair growth rate.
"When our first quarter results were declared, in the midst of a global slowdown, many thought that 7 per cent was a fair growth rate. But I must confess that it didn't bring too many smiles on our faces, because India has actually started feeling that 7 per cent is just not enough for us," he said while addressing investors in Singapore. The GDP growth slowed to 7 per cent in the April-June quarter, from 7.5 per cent in the previous quarter, amid deceleration in farm, services and manufacturing sectors, as per CSO data released last month.
The government expects a growth rate of 8-8.5 per cent for full 2015-16 fiscal.
He said the government is boosting public investment in infrastructure sector to fuel growth and investment in railways would help push growth in other sectors, including steel.
"We have put in a lot of budgetary support into modernising the railways. In fact, if railways would spend all the money that is being available to us, we will probably be able to see a much faster impact on various other sectors such as steel, cement, employment, and so on," the finance minister said.
In a bid to boost growth, the government will divert its savings on the subsidy front towards irrigation and infrastructure sectors, Jaitley said.
Finance Minister Arun Jaitley said 7 per cent growth rate recorded in the first quarter of current fiscal is not just enough, though many thought it was a fair growth rate.
"When our first quarter results were declared, in the midst of a global slowdown, many thought that 7 per cent was a fair growth rate. But I must confess that it didn't bring too many smiles on our faces, because India has actually started feeling that 7 per cent is just not enough for us," he said while addressing investors in Singapore. The GDP growth slowed to 7 per cent in the April-June quarter, from 7.5 per cent in the previous quarter, amid deceleration in farm, services and manufacturing sectors, as per CSO data released last month.
The government expects a growth rate of 8-8.5 per cent for full 2015-16 fiscal.
He said the government is boosting public investment in infrastructure sector to fuel growth and investment in railways would help push growth in other sectors, including steel.
"We have put in a lot of budgetary support into modernising the railways. In fact, if railways would spend all the money that is being available to us, we will probably be able to see a much faster impact on various other sectors such as steel, cement, employment, and so on," the finance minister said.
In a bid to boost growth, the government will divert its savings on the subsidy front towards irrigation and infrastructure sectors, Jaitley said.
Sebi probes Castex Technologies over bond conversion
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Market watchdog Sebi has started a probe into auto parts maker Castex Technologies, after investors alleged it manipulated its stock to trigger the conversion of bonds into equity, a source with direct knowledge of the matter said.
Castex's stock price more than quadrupled in the three months to end-June, triggering the mandatory conversion of $130 million of bonds into company equity. The shares subsequently fell sharply. The company was not immediately available for comment on Friday. Last week it denied in a stock exchange filing that it had engaged in "unfair practices", submitted after local media reports of bondholder claims about share price moves.
The allegations against Castex throw a spotlight on the quality of corporate oversight at a time when the government is campaigning to attract billions in foreign cash to fuel its economic recovery.
"We have received complaints and are looking into whether there is evidence of any wrongdoing," said the source, who declined to be named as the case is not public.
He said the Securities and Exchange Board of India(Sebi) had asked for detailed trading data of the company's shares from the stock exchanges and will now analyse the data.
A representative for the regulator was not immediately available for comment.
According to a 2012 covenant, conversion of the Castex bonds, originally due in 2017, would be triggered if the company's shares traded above a certain threshold for a month.
The stock soared from April to June but lost 90 per cent of their value from a peak of Rs 363.1 on July 13. Bondholders complained to regulators, alleging that the company had artificially boosted the price to trigger a mandatory bond conversion and reduce its debt burden.
London-based law firm Quinn Emanuel Urquhart & Sullivan, which represents the Castex bondholders, accused the company of manipulating its stock in a letter sent to Sebi and reviewed by Reuters.
Sebi has stepped up its fight against market manipulation but Castex bondholders criticised its lack of response to the sharp rise in the company's shares.
"What the regulator should have done very early on is suspend the trading of the stock," East said.
Market watchdog Sebi has started a probe into auto parts maker Castex Technologies, after investors alleged it manipulated its stock to trigger the conversion of bonds into equity, a source with direct knowledge of the matter said.
Castex's stock price more than quadrupled in the three months to end-June, triggering the mandatory conversion of $130 million of bonds into company equity. The shares subsequently fell sharply. The company was not immediately available for comment on Friday. Last week it denied in a stock exchange filing that it had engaged in "unfair practices", submitted after local media reports of bondholder claims about share price moves.
The allegations against Castex throw a spotlight on the quality of corporate oversight at a time when the government is campaigning to attract billions in foreign cash to fuel its economic recovery.
"We have received complaints and are looking into whether there is evidence of any wrongdoing," said the source, who declined to be named as the case is not public.
He said the Securities and Exchange Board of India(Sebi) had asked for detailed trading data of the company's shares from the stock exchanges and will now analyse the data.
A representative for the regulator was not immediately available for comment.
According to a 2012 covenant, conversion of the Castex bonds, originally due in 2017, would be triggered if the company's shares traded above a certain threshold for a month.
The stock soared from April to June but lost 90 per cent of their value from a peak of Rs 363.1 on July 13. Bondholders complained to regulators, alleging that the company had artificially boosted the price to trigger a mandatory bond conversion and reduce its debt burden.
London-based law firm Quinn Emanuel Urquhart & Sullivan, which represents the Castex bondholders, accused the company of manipulating its stock in a letter sent to Sebi and reviewed by Reuters.
Sebi has stepped up its fight against market manipulation but Castex bondholders criticised its lack of response to the sharp rise in the company's shares.
"What the regulator should have done very early on is suspend the trading of the stock," East said.
8K Miles buys US-based NexAge, fourth takeover in a year
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Cloud computing services provider 8K Miles Software announced on Friday the takeover of US-based NexAge Technologies, that specializes in the life sciences sector, for $3 million making it the fourth acquisition over the past one year.
San Francisco-headquartered 8K Miles Software is the only listed cloud computing player in the country and has its registered office in Chennai. "The acquisition will strengthen our life sciences competency, apart from providing access to enterprise clients and pharma technology solutions of NexAge," 8K Miles Chairman and Chief Executive Suresh Venkatachari said.
The deal is expected to help add to the company's already strong pharma sector offering and will help build a long-term annuity-based recurring revenue model, he added.
Venkatachari said 8K Miles does not need to raise any debt to fund the acquisition and will mop up the funds from internal accruals. Over the past 12 months, 8K Miles has snapped up three firms in the health and pharma space alone.
Earlier this year, it had acquired the US-based Cintel Systems, Canada-based Mindprint and another US-based firm SERJ Solutions to strengthen its portfolio in the fast-growing life sciences sector.
He also said NexAge, the New Jersey-based firm, founded by an NRI and dealing in regulatory compliance and technology solutions in the life sciences sector, had $5 million in revenues last fiscal and he hopes to build on it further. The 15-year-old NexAge works with almost all the leading international pharma players such as GSK, Pfizer, among others, while 8K Miles on its own added Novartis to its clientele recently, Venkatachari added.
Explaining the deal, which he hopes to complete by the end of this month, Venkatachari said the $3 million payout is part in stocks and part in cash and includes takeover of $8 lakh debt of NexAge.
The $3-million deal is a combination of cash and stock and includes NexAge's debt of $800,000, apart from acquisition of intellectual property, technical solutions, client contracts and employees, 8K Miles said in a statement.
With NexAge, we will further boost our world class CloudEzRx solutions, that has been designed to address qualification and validation compliance for applications running on the cloud, the company said.
NexAge Founder and Chairman Suresh U Kumar said, "As a boutique firm with a niche expertise and experience in the US life sciences industry, I believe being part of 8K Miles will help us take our service offerings to an entirely new level." Shares of 8K Miles Software Services closed at Rs 1,399 per scrip on BSE, up 0.58 per cent.
Cloud computing services provider 8K Miles Software announced on Friday the takeover of US-based NexAge Technologies, that specializes in the life sciences sector, for $3 million making it the fourth acquisition over the past one year.
San Francisco-headquartered 8K Miles Software is the only listed cloud computing player in the country and has its registered office in Chennai. "The acquisition will strengthen our life sciences competency, apart from providing access to enterprise clients and pharma technology solutions of NexAge," 8K Miles Chairman and Chief Executive Suresh Venkatachari said.
The deal is expected to help add to the company's already strong pharma sector offering and will help build a long-term annuity-based recurring revenue model, he added.
Venkatachari said 8K Miles does not need to raise any debt to fund the acquisition and will mop up the funds from internal accruals. Over the past 12 months, 8K Miles has snapped up three firms in the health and pharma space alone.
Earlier this year, it had acquired the US-based Cintel Systems, Canada-based Mindprint and another US-based firm SERJ Solutions to strengthen its portfolio in the fast-growing life sciences sector.
He also said NexAge, the New Jersey-based firm, founded by an NRI and dealing in regulatory compliance and technology solutions in the life sciences sector, had $5 million in revenues last fiscal and he hopes to build on it further. The 15-year-old NexAge works with almost all the leading international pharma players such as GSK, Pfizer, among others, while 8K Miles on its own added Novartis to its clientele recently, Venkatachari added.
Explaining the deal, which he hopes to complete by the end of this month, Venkatachari said the $3 million payout is part in stocks and part in cash and includes takeover of $8 lakh debt of NexAge.
The $3-million deal is a combination of cash and stock and includes NexAge's debt of $800,000, apart from acquisition of intellectual property, technical solutions, client contracts and employees, 8K Miles said in a statement.
With NexAge, we will further boost our world class CloudEzRx solutions, that has been designed to address qualification and validation compliance for applications running on the cloud, the company said.
NexAge Founder and Chairman Suresh U Kumar said, "As a boutique firm with a niche expertise and experience in the US life sciences industry, I believe being part of 8K Miles will help us take our service offerings to an entirely new level." Shares of 8K Miles Software Services closed at Rs 1,399 per scrip on BSE, up 0.58 per cent.
FM Arun Jaitley says several economic reforms legislations in pipeline
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Expressing India's commitment to continue with economic reforms, Finance Minister Arun Jaitley on Friday said the government has several legislations in the pipeline that will be pursued in coming days.
Asserting that reforms are an ongoing process, he assured investors at a function in Singapore the government will continue them to make India an attractive investment destination and a better place to do business. Jaitley is in Singapore to participate in The Singapore Summit and has bilateral meetings with several important government functionaries lined up.
"The bankruptcy code is ready and changes to arbitration laws and several other legislations are in the pipeline... For the next few years, we have our agenda full, reforms are an ongoing process," Jaitley said, adding that the legislations which could be taken in the form of the Money Bill will be pursued.
A Money Bill is important as it cannot be blocked by the Rajya Sabha where the ruling NDA does not have a majority.
Recalling that there was a time when the experts were talking about dropping India from BRICS (Brazil, Russia, India, China and South Africa), Jaitley said: "Today, India has become the fastest-growing economy among BRICS."
India is no more a nation suffering from policy paralysis and uncertain taxation regime, he said, adding that now-a-days states are vying with each other to attract investment.
Moreover, he added, as a net importer, the country has benefited from declining oil prices in the international market. It has helped contain inflation as well as fiscal deficit.
Expressing India's commitment to continue with economic reforms, Finance Minister Arun Jaitley on Friday said the government has several legislations in the pipeline that will be pursued in coming days.
Asserting that reforms are an ongoing process, he assured investors at a function in Singapore the government will continue them to make India an attractive investment destination and a better place to do business. Jaitley is in Singapore to participate in The Singapore Summit and has bilateral meetings with several important government functionaries lined up.
"The bankruptcy code is ready and changes to arbitration laws and several other legislations are in the pipeline... For the next few years, we have our agenda full, reforms are an ongoing process," Jaitley said, adding that the legislations which could be taken in the form of the Money Bill will be pursued.
A Money Bill is important as it cannot be blocked by the Rajya Sabha where the ruling NDA does not have a majority.
Recalling that there was a time when the experts were talking about dropping India from BRICS (Brazil, Russia, India, China and South Africa), Jaitley said: "Today, India has become the fastest-growing economy among BRICS."
India is no more a nation suffering from policy paralysis and uncertain taxation regime, he said, adding that now-a-days states are vying with each other to attract investment.
Moreover, he added, as a net importer, the country has benefited from declining oil prices in the international market. It has helped contain inflation as well as fiscal deficit.
US Fed rates hike will be gradual, says NITI Aayog vice chairman Arvind Panagariya
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The US Federal Reserve decision not to raise interest rates was a "non-event", NITI Aayog vice chairman Arvind Panagariya said on Friday, adding that such hikes will be gradual whenever they begin.
"It is basically a non-event. I have said this before, even if the Fed begins to raise, it will be a very gradual rise," Panagariya told reporters on the sidelines of an event here organised by FICCI's International Chamber of Commerce. Saying that the markets were anticipating a US interest rate hike, he said this time it has been unlike in 2013, when there was a fairly large reaction on a similar expectation from the US central bank.
"That time (2013) no change did happen, there was some perception that some change might happen. And that had generated a fairly large reaction. I don't expect that (this time)," he said.
The US Federal Reserve on Thursday kept interest rates unchanged in the face of jittery financial markets and a global slowdown.
Relieved by the status quo in US interest rates, Indian share markets opened higher on Friday, and flared up further in tune with most Asian peers as investors saw momentary respite from a potential shift of global funds away from emerging economies.
The US Federal Reserve decision not to raise interest rates was a "non-event", NITI Aayog vice chairman Arvind Panagariya said on Friday, adding that such hikes will be gradual whenever they begin.
"It is basically a non-event. I have said this before, even if the Fed begins to raise, it will be a very gradual rise," Panagariya told reporters on the sidelines of an event here organised by FICCI's International Chamber of Commerce. Saying that the markets were anticipating a US interest rate hike, he said this time it has been unlike in 2013, when there was a fairly large reaction on a similar expectation from the US central bank.
"That time (2013) no change did happen, there was some perception that some change might happen. And that had generated a fairly large reaction. I don't expect that (this time)," he said.
The US Federal Reserve on Thursday kept interest rates unchanged in the face of jittery financial markets and a global slowdown.
Relieved by the status quo in US interest rates, Indian share markets opened higher on Friday, and flared up further in tune with most Asian peers as investors saw momentary respite from a potential shift of global funds away from emerging economies.
General Awareness
Rivers of Major World Cities
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Dear Readers & Aspirants,we have collected some Rivers of Major World Cities. We hope, it will help you in Competitive exams.
City Country River Alexandria Egypt Nile Amsterdam Netherlands Amstel Baghdad Iraq Tigris Bangkok Thailand Chao Phraya Belgrade Yugoslavia Danube, Sava Berlin Germany Spree, Havel Bogotá Colombia Bogotá Brussels Belgium Senne Budapest Hungary Danube Buenos Aires Argentina RÃo de la Plata Cairo Egypt Nile Calcutta India Hugli Damascus Syria Barada Delhi India Yamuna Dublin Ireland LIffey Ho Chi Minh City Vietnam Saigon Hong Kong China Pearl Jakarta Indonesia Liwung Kiev Ukraine Dnieper Lisbon Portugal Tagus Lima Peru RÃmac London England Thames Madrid Spain Manzanares Melbourne Australia Yarra Montreal Canada St. Lawrence Moscow Russia Moskva Paris France Seine Prague Czech Republic Moldau Rome Italy Tiber Saint Petersburg Russia Neva Santiago Chile Mapocho São Paulo Brazil Tietê Seoul South Korea Han Shanghai China Huangpu Tokyo Japan Sumida Vienna Austria Danube Warsaw Poland Vistula Zagreb Croatia Sava Zürich Switzerland Limmat, Sihl
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- Dear Readers & Aspirants,we have collected some Rivers of Major World Cities. We hope, it will help you in Competitive exams.
City Country River Alexandria Egypt Nile Amsterdam Netherlands Amstel Baghdad Iraq Tigris Bangkok Thailand Chao Phraya Belgrade Yugoslavia Danube, Sava Berlin Germany Spree, Havel Bogotá Colombia Bogotá Brussels Belgium Senne Budapest Hungary Danube Buenos Aires Argentina RÃo de la Plata Cairo Egypt Nile Calcutta India Hugli Damascus Syria Barada Delhi India Yamuna Dublin Ireland LIffey Ho Chi Minh City Vietnam Saigon Hong Kong China Pearl Jakarta Indonesia Liwung Kiev Ukraine Dnieper Lisbon Portugal Tagus Lima Peru RÃmac London England Thames Madrid Spain Manzanares Melbourne Australia Yarra Montreal Canada St. Lawrence Moscow Russia Moskva Paris France Seine Prague Czech Republic Moldau Rome Italy Tiber Saint Petersburg Russia Neva Santiago Chile Mapocho São Paulo Brazil Tietê Seoul South Korea Han Shanghai China Huangpu Tokyo Japan Sumida Vienna Austria Danube Warsaw Poland Vistula Zagreb Croatia Sava Zürich Switzerland Limmat, Sihl
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