General Affairs
Keep It Short: PM Modi's Warning On Cellphone Chats To Party Lawmakers
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NEW DELHI: Prime Minister Narendra Modi has advised BJP lawmakers to limit their use of mobile phones, suggesting it would help them conserve time and energy that can be put to better use.
The Prime Minister, who also admonished party lawmakers for not handing in progress reports on the work they have done in their parliamentary constituencies, said they must learn how to manage their time.
For the lesson in time management, PM Modi quoted US author and inventor Benjamin Franklin, whose writings have inspired management courses on the subject - "Time is money" and "time lost is never found again," the PM said at a weekly meeting of party lawmakers, the last before the Monsoon session ends.
Talk less was also the message of an additional session by new Parliamentary Affairs Minister Anant Kumar, who cautioned the lawmakers against casual conversations that can be used in sting operations. He reminded them of how BJP lawmakers were expelled from the parliament some years ago after a sting operation accused them of taking money to ask questions in the parliament.
PM Modi said he was worried that many lawmakers had not given an account of their work in constituencies in the two years since they were elected, despite repeated reminders.
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Now, he said, they must send their reports online at the earliest, either to him or to Jitendra Singh, minister of state in the Prime Minister's Office.
The Prime Minister wants included in the report, details of how each lawmaker has implemented central schemes.
He has also asked them to travel across their constituencies on two-wheelers holding national flags eight-feet long as part of the BJP's Tiranga Yatra to celebrate Independence Day.
They must upload about 500 to 1000 photos each from the yatra on Facebook, PM Modi has instructed.
The Prime Minister, who also admonished party lawmakers for not handing in progress reports on the work they have done in their parliamentary constituencies, said they must learn how to manage their time.
Talk less was also the message of an additional session by new Parliamentary Affairs Minister Anant Kumar, who cautioned the lawmakers against casual conversations that can be used in sting operations. He reminded them of how BJP lawmakers were expelled from the parliament some years ago after a sting operation accused them of taking money to ask questions in the parliament.
PM Modi said he was worried that many lawmakers had not given an account of their work in constituencies in the two years since they were elected, despite repeated reminders.
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Now, he said, they must send their reports online at the earliest, either to him or to Jitendra Singh, minister of state in the Prime Minister's Office.
The Prime Minister wants included in the report, details of how each lawmaker has implemented central schemes.
He has also asked them to travel across their constituencies on two-wheelers holding national flags eight-feet long as part of the BJP's Tiranga Yatra to celebrate Independence Day.
They must upload about 500 to 1000 photos each from the yatra on Facebook, PM Modi has instructed.
70% Of Class VI Government School Students Can't Read A Paragraph: Survey
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NEW DELHI: Over 70 per cent of class six students in government schools cannot read a paragraph from a textbook, a baseline assessment survey has revealed.
The assessment conducted by government school teachers using appropriate tools was aimed at revealing the level of learning of 2,01,997 children studying in 1011 schools under the Delhi government's Directorate of Education (DoE).
According to the survey, 74 per cent students could not read a paragraph from their own Hindi textbook, 46 per cent could not read a simple story of class 2 competency and 8 per cent could not identify letters.
Similarly, 67 per cent children could not do simple 3 digits by 1 digit division, 44 per cent children could not do 2 digits subtraction with borrowing and 5 per cent children could not recognize single digit numbers.
"With only 54 pc children of Class 6 being able to read something (and just 26 pc who can read their own textbooks), the remaining 46 pc would require additional support to first of all learn to read and write," an official statement said.
The baseline survey has been conducted to chalk out a plan of action for "Chunauti 2018", the AAP government's new education reform plan seeking to check drop-out of students and improve education quality with special focus on the weakest students.
Under Chunauti 2018 scheme, students will be mapped and the weakest students given "special focus" to enhance learning levels from Class 6 to 9.
The government will especially focus on "weakest students" of class 9 and ensure that they pass class 10 by 2018, a move aimed at leaving no child behind in its schools.
"Children are being reorganised in two groups- Nishtha and Pratibha. While the focus in Nishtha group will be to build basic reading, writing and numeracy skills of children in next couple of months, Pratibha will proceed with grade specified curriculum.
"As soon as children of Nishtha group learn to read, the grade specific curriculum would be introduced to them as well so that they can participate in learning activities more confidently," the statement said.
The assessment conducted by government school teachers using appropriate tools was aimed at revealing the level of learning of 2,01,997 children studying in 1011 schools under the Delhi government's Directorate of Education (DoE).
According to the survey, 74 per cent students could not read a paragraph from their own Hindi textbook, 46 per cent could not read a simple story of class 2 competency and 8 per cent could not identify letters.
Similarly, 67 per cent children could not do simple 3 digits by 1 digit division, 44 per cent children could not do 2 digits subtraction with borrowing and 5 per cent children could not recognize single digit numbers.
"With only 54 pc children of Class 6 being able to read something (and just 26 pc who can read their own textbooks), the remaining 46 pc would require additional support to first of all learn to read and write," an official statement said.
The baseline survey has been conducted to chalk out a plan of action for "Chunauti 2018", the AAP government's new education reform plan seeking to check drop-out of students and improve education quality with special focus on the weakest students.
Under Chunauti 2018 scheme, students will be mapped and the weakest students given "special focus" to enhance learning levels from Class 6 to 9.
The government will especially focus on "weakest students" of class 9 and ensure that they pass class 10 by 2018, a move aimed at leaving no child behind in its schools.
"Children are being reorganised in two groups- Nishtha and Pratibha. While the focus in Nishtha group will be to build basic reading, writing and numeracy skills of children in next couple of months, Pratibha will proceed with grade specified curriculum.
"As soon as children of Nishtha group learn to read, the grade specific curriculum would be introduced to them as well so that they can participate in learning activities more confidently," the statement said.
Lok Sabha To Discuss Atrocities On Dalits On Thursday
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NEW DELHI: A discussion on the issue of atrocities on Dalits will be taken up by the Lok Sabha on Thursday.
A decision to this effect was taken by the Business Advisory Committee of the House which also decided to have a debate on the flood situation in the country on Friday, the last day of the session.
Earlier, a demand by the opposition for a debate on the Dalit atrocity issue was rejected by the government at a previous meeting of the committee.
The government, sources said, is now more comfortable in holding the discussion on atrocities after Prime Minister Narendra Modi hit out at those indulging in violence in the name of cow protection.
The bill relating to amending the Motor Vehicles Act, which aims to improve road safety in the country, is likely to be referred to a Parliamentary Standing Committee. Several opposition members had suggested on Tuesday in the Lok Sabha that the amended bill should be referred to the standing committee for a thorough scrutiny. The opposition also alleged that copies of the bill were not circulated to them in advance as per existing rules, before the bill was introduced.
The amended Motor Vehicles Bill will bring about hefty penalties for traffic rule violations, juvenile driving, drunken driving, driving without licence, dangerous driving, over-speeding, overloading and so on.
A decision to this effect was taken by the Business Advisory Committee of the House which also decided to have a debate on the flood situation in the country on Friday, the last day of the session.
Earlier, a demand by the opposition for a debate on the Dalit atrocity issue was rejected by the government at a previous meeting of the committee.
The government, sources said, is now more comfortable in holding the discussion on atrocities after Prime Minister Narendra Modi hit out at those indulging in violence in the name of cow protection.
The bill relating to amending the Motor Vehicles Act, which aims to improve road safety in the country, is likely to be referred to a Parliamentary Standing Committee. Several opposition members had suggested on Tuesday in the Lok Sabha that the amended bill should be referred to the standing committee for a thorough scrutiny. The opposition also alleged that copies of the bill were not circulated to them in advance as per existing rules, before the bill was introduced.
The amended Motor Vehicles Bill will bring about hefty penalties for traffic rule violations, juvenile driving, drunken driving, driving without licence, dangerous driving, over-speeding, overloading and so on.
Najeeb Jung Behaving Like Churchill, Has No Faith In Democracy: AAP
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NEW DELHI: Lt Governor Najeeb Jung is using the language of Winston Churchill who as British Prime Minister had strongly opposed granting Independence to India, said Delhi Home Minister Satyendar Jain, a day after the LG ordered review of all decisions by AAP government which were not cleared by him.
Mr Jain, whose department has had confrontations with the LG over a range of issues, said Mr Jung doesn't have "faith" in democracy and that he has been using language of former British viceroys and Churchill.
Mr Jain also criticised Mr Jung's directive yesterday to heads of all departments to "review" orders and "identify" files for which his approval was required but not taken by the AAP government, saying he cannot directly communicate with the bureaucrats and must route the directions through ministers.
The bitter war of words between AAP government and Delhi Lieutenant Governor continued days after the Delhi High Court ruled that the national capital is a Union Territory despite having an elected government and LG is the administrative head of the city. The AAP government is challenging the order in the Supreme Court.
"LG sahab doesn't have faith in democracy. He has never contested an election and (is) holding the top position without peoples' mandate. British viceroys used to say that India doesn't need independence. Mr Churchill said that India cannot be given independence as the people cannot govern themselves.
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"He (Jung) is using the language of former Viceroys and Churchill," the Delhi Home Minister told reporters.
"Let him (Jung) review all our files and decisions. But instead of directing officers, he should have communicated it to the ministers concerned. LG has the right to seek any file, but it should be done through proper channels," he added. The minister said that the Delhi government will obey the High Court order holding that the LG is the "administrative head" of the capital.
An order issued by Vijay Kumar, Secretary to the LG had said, "The secretaries, principal secretaries and heads of all the departments, autonomous bodies, boards, corporations and institutions concerned should immediately review all such orders and identify by August 17 those cases where prior approval of the LG was required but not taken.
"All such cases may immediately be placed with appropriate proposal before the LG through proper channel and with the opinion of the Law department, wherever required," the order said.
Mr Jain, whose department has had confrontations with the LG over a range of issues, said Mr Jung doesn't have "faith" in democracy and that he has been using language of former British viceroys and Churchill.
The bitter war of words between AAP government and Delhi Lieutenant Governor continued days after the Delhi High Court ruled that the national capital is a Union Territory despite having an elected government and LG is the administrative head of the city. The AAP government is challenging the order in the Supreme Court.
"LG sahab doesn't have faith in democracy. He has never contested an election and (is) holding the top position without peoples' mandate. British viceroys used to say that India doesn't need independence. Mr Churchill said that India cannot be given independence as the people cannot govern themselves.
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"He (Jung) is using the language of former Viceroys and Churchill," the Delhi Home Minister told reporters.
"Let him (Jung) review all our files and decisions. But instead of directing officers, he should have communicated it to the ministers concerned. LG has the right to seek any file, but it should be done through proper channels," he added. The minister said that the Delhi government will obey the High Court order holding that the LG is the "administrative head" of the capital.
An order issued by Vijay Kumar, Secretary to the LG had said, "The secretaries, principal secretaries and heads of all the departments, autonomous bodies, boards, corporations and institutions concerned should immediately review all such orders and identify by August 17 those cases where prior approval of the LG was required but not taken.
"All such cases may immediately be placed with appropriate proposal before the LG through proper channel and with the opinion of the Law department, wherever required," the order said.
Panama Papers Show Italian Bribes' Path To Algeria: Journalism Group
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WASHINGTON: Shell companies created by the law firm behind the "Panama Papers" played a central role in alleged Italian bribes paid to Algerian officials for energy contracts, an investigative journalism group said Monday.
In new revelations from the leak of millions of internal records on offshore shell companies, the International Consortium of Investigative Journalists reported that the law firm Mossack Fonseca had created 12 of 17 companies through which the Milan oil services company Saipem SpA allegedly paid $275 million to win $10 billion in oil and gas deals.
According to ICIJ, a non-profit newsroom, prosecutors in Milan believe the Franco-Algerian businessman Farid Bedjaoui used the offshore entities to funnel the bribes to Algerian officials.
He allegedly used one Mossack Fonseca-created shell company to pass up to $15 million to family members of an Algerian energy minister.
Mossack Fonseca, the Panama City firm which specializes in the creation of offshore companies, told ICIJ that its actions were both legal and several steps removed from the actions of its clients or their associates.
Transparency campaigners have long denounced offshore secrecy and banking as an industry which enables corruption and illegal plundering of resources.
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Governments have also now joined the campaign against tax havens and offshore companies to fight tax evasion, money laundering and terror finance.
An Italian judge in October ordered Saipem and several officials to stand trial over the company's business in Algeria. The company told ICIJ it was fully cooperating with Italian investigators.
Bedjaoui, 46, lives in Dubai and did not respond to requests for comment from ICIJ, but his lawyers have previously denied wrongdoing, the group said.
Interpol has issued an international alert to law enforcement that Bedjaoui is wanted by Italian police on suspicion of conspiracy to commit to corruption.
Saipem has been the focus of international corruption allegations in the past. Snamprogetti Netherlands, a subsidiary of Saipem, agreed to pay $240 million to US authorities in 2010 to resolve massive bribery allegations in Nigeria's oil sector.
A court in Algiers in February of this year ordered four companies, including Saipem, to pay fines of between 4 million and 5 million dinars ($35,500 to $44,300) for corrupt dealings with the state oil company Sonatrach.
The court also handed down sentences ranging from probation to 6 years in prison to eight people, including former Sonatrach CEO Mohamed Meziane.
In new revelations from the leak of millions of internal records on offshore shell companies, the International Consortium of Investigative Journalists reported that the law firm Mossack Fonseca had created 12 of 17 companies through which the Milan oil services company Saipem SpA allegedly paid $275 million to win $10 billion in oil and gas deals.
According to ICIJ, a non-profit newsroom, prosecutors in Milan believe the Franco-Algerian businessman Farid Bedjaoui used the offshore entities to funnel the bribes to Algerian officials.
Mossack Fonseca, the Panama City firm which specializes in the creation of offshore companies, told ICIJ that its actions were both legal and several steps removed from the actions of its clients or their associates.
Transparency campaigners have long denounced offshore secrecy and banking as an industry which enables corruption and illegal plundering of resources.
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Governments have also now joined the campaign against tax havens and offshore companies to fight tax evasion, money laundering and terror finance.
An Italian judge in October ordered Saipem and several officials to stand trial over the company's business in Algeria. The company told ICIJ it was fully cooperating with Italian investigators.
Bedjaoui, 46, lives in Dubai and did not respond to requests for comment from ICIJ, but his lawyers have previously denied wrongdoing, the group said.
Interpol has issued an international alert to law enforcement that Bedjaoui is wanted by Italian police on suspicion of conspiracy to commit to corruption.
Saipem has been the focus of international corruption allegations in the past. Snamprogetti Netherlands, a subsidiary of Saipem, agreed to pay $240 million to US authorities in 2010 to resolve massive bribery allegations in Nigeria's oil sector.
A court in Algiers in February of this year ordered four companies, including Saipem, to pay fines of between 4 million and 5 million dinars ($35,500 to $44,300) for corrupt dealings with the state oil company Sonatrach.
The court also handed down sentences ranging from probation to 6 years in prison to eight people, including former Sonatrach CEO Mohamed Meziane.
Business Affairs
RBI governor Raghuram Rajan says speeches never criticised govt
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The RBI governor Raghuram Rajan said on Tuesday he had never criticised the government in speeches that had triggered strong criticism from right-wing political leaders.
Rajan will step down as governor of the Reserve Bank of India on September 4 and his surprise decision not to make himself available for an second term had raised speculation that some of his speeches had upset Prime Minister Narendra Modi's government.
"In none of the speeches I have given has there been an explicit criticism or an implicit criticism of the government," Rajan told journalists following a policy review.
"Some of those speeches have been on economic issues outside of monetary policy. I think those economic issues are perfectly within the remit of the central bank because ultimately we have a remit of macro stability."
Rajan also strongly defended a speech on social tolerance, which was heavily criticised by some government officials as meddling into political areas.
The RBI governor Raghuram Rajan said on Tuesday he had never criticised the government in speeches that had triggered strong criticism from right-wing political leaders.
Rajan will step down as governor of the Reserve Bank of India on September 4 and his surprise decision not to make himself available for an second term had raised speculation that some of his speeches had upset Prime Minister Narendra Modi's government.
"In none of the speeches I have given has there been an explicit criticism or an implicit criticism of the government," Rajan told journalists following a policy review.
"Some of those speeches have been on economic issues outside of monetary policy. I think those economic issues are perfectly within the remit of the central bank because ultimately we have a remit of macro stability."
Rajan also strongly defended a speech on social tolerance, which was heavily criticised by some government officials as meddling into political areas.
Amazon, Flipkart and Snapdeal offer huge discounts ahead of Independence Day
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The 70th Independence day has brought India's leading e-commerce firms on a discount mode.
Amazon India, Flipkart and Snapdeal are offering huge discounts on their products, ahead of August 15.
While Amazon India has launched the 'Great Indian Sale' for three days, starting from August 8, 9 and 10, Snapdeal has launched 'Wish For India Sale' offering a discount of up to 70 per cent on its products.
Flipkart is not far behind the competition and will launch 'The Freedom Sale' from August 10 to August 12. The firm is also offering 10 per cent instant discount on use of HDFC Bank credit cards.
You can also avail additional cashback of 10 per cent on app and 7.5 per cent on the Amazon website.
Flipkart is selling Xiaomi Redmi 3S Prime Sale from 12 pm today. The website is offering buyers up to Rs 7,000 discount on the exchange of their old smartphones.
For those who want to buy Reliance smartphones and enjoy Reliance Jio's 4G preview, Reliance LYF Wind 3 will start selling on Flipkart from August 10.
Under the Reliance 4G preview, one can use unlimited 4G data for three months.
LeEco too is offering Smart TVs on Flipkart from August 10. Customers can also avail 'no cost EMI offer' on all credit cards to buy LeEco Le 2, Le Max2 and Le 1s Eco smartphones ahead of the Independence Day.
On Snapdeal too, Samsung Galaxy J3 is available at Rs 8,290 at a discount of Rs 700. Micromax Unite 4 is available at 26 per cent discount at Rs 6,999. Micromax's 50C5220MHD 127 cm (50) Full HD LED Television is available at Rs 29,990 (57 per cent discount) With 1 + 2 Year extended warranty.
On Amazon India, the Samsung Galaxy Note Edge (Black) is available at a 25 per cent discount at Rs 36,999. OnePlus X (Limited Edition Ceramic) can be bought at Rs 18,999, a discount of 17 per cent on its original price.
The 70th Independence day has brought India's leading e-commerce firms on a discount mode.
Amazon India, Flipkart and Snapdeal are offering huge discounts on their products, ahead of August 15.
While Amazon India has launched the 'Great Indian Sale' for three days, starting from August 8, 9 and 10, Snapdeal has launched 'Wish For India Sale' offering a discount of up to 70 per cent on its products.
Flipkart is not far behind the competition and will launch 'The Freedom Sale' from August 10 to August 12. The firm is also offering 10 per cent instant discount on use of HDFC Bank credit cards.
You can also avail additional cashback of 10 per cent on app and 7.5 per cent on the Amazon website.
Flipkart is selling Xiaomi Redmi 3S Prime Sale from 12 pm today. The website is offering buyers up to Rs 7,000 discount on the exchange of their old smartphones.
For those who want to buy Reliance smartphones and enjoy Reliance Jio's 4G preview, Reliance LYF Wind 3 will start selling on Flipkart from August 10.
Under the Reliance 4G preview, one can use unlimited 4G data for three months.
LeEco too is offering Smart TVs on Flipkart from August 10. Customers can also avail 'no cost EMI offer' on all credit cards to buy LeEco Le 2, Le Max2 and Le 1s Eco smartphones ahead of the Independence Day.
On Snapdeal too, Samsung Galaxy J3 is available at Rs 8,290 at a discount of Rs 700. Micromax Unite 4 is available at 26 per cent discount at Rs 6,999. Micromax's 50C5220MHD 127 cm (50) Full HD LED Television is available at Rs 29,990 (57 per cent discount) With 1 + 2 Year extended warranty.
On Amazon India, the Samsung Galaxy Note Edge (Black) is available at a 25 per cent discount at Rs 36,999. OnePlus X (Limited Edition Ceramic) can be bought at Rs 18,999, a discount of 17 per cent on its original price.
Govt raises demands for recovery of losses from telcos
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The government has taken action against telecom firms who understated their revenue in the past and has issued regular demands to recover dues from them.
A Comptroller and Auditor General report this year found that six telecom operators understated revenue by Rs 46,045.75 crore, for four financial years 2006-07, 2007-08, 2008-09 and 2009-10, the government said in Parliament on Tuesday.
"As per the report, the shortfall in licence fee amounts to Rs 3,752.37 crore, in spectrum usage charges amounts to Rs 1,460.23 crore and interest on short fall up to March 2015 amounts to Rs 7,276.33 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha.
The CAG report which had come in March had said that there was a loss of Rs 12,488.93 crore on the government exchequer because six telecom firms had reported under-invoicing of their gross revenues.
As per the CAG report, which was tabled in Parliament, Reliance Communications, Tata Telecom, Vodafone, Airtel, Idea and Aircel had under reported their adjusted gross revenue by Rs 46,045.75 crore during the four fiscal years running from 2006-07 through 2009-10.
"The government has issued regular demands for all the four financial years and special audit demands for two financial years 2006-07 and 2007-08. These demands overlap the short falls pointed out in the CAG report," Gangwar said.
For these two financial years, the minister said CAG has pointed out a short fall of licence fees of Rs 1,269.36 crore.
"Department of Telecom (DoT) had already issued demands for license fee amounting to Rs 896.07 crore in 2012 itself based upon the report of special auditors," he added.
Besides, DoT conducted special audit of five major telecom companies in 2009.
"On the basis of special audit demands of Rs 1,846.51 crore and Rs 1,118.54 crore as license fees and spectrum usage charges were raised. These demands are subjudice," Gangwar said.
The minister also informed the house that whenever any information regarding evasion of taxes, including under reporting of revenue is received, appropriate action is taken under relevant laws.
Searches, surveys, enquiries, assessment of income, levy of taxes, penalties and filing of prosecution in criminal courts and show cause notices are the way through which the Government takes action, the minister said.
The financial impact due to understatement of revenues are of the order of Rs 3,728.54 crore for Reliance Communications; Rs 3,215.39 crore for Tata Teleservices; Bharti Airtel (Rs 2,651.89 crore); Vodafone (Rs 1,665.39 crore), Idea (Rs 964.89 crore) and Aircel (Rs 262.83 crore), as per CAG.
The government has taken action against telecom firms who understated their revenue in the past and has issued regular demands to recover dues from them.
A Comptroller and Auditor General report this year found that six telecom operators understated revenue by Rs 46,045.75 crore, for four financial years 2006-07, 2007-08, 2008-09 and 2009-10, the government said in Parliament on Tuesday.
"As per the report, the shortfall in licence fee amounts to Rs 3,752.37 crore, in spectrum usage charges amounts to Rs 1,460.23 crore and interest on short fall up to March 2015 amounts to Rs 7,276.33 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha.
The CAG report which had come in March had said that there was a loss of Rs 12,488.93 crore on the government exchequer because six telecom firms had reported under-invoicing of their gross revenues.
As per the CAG report, which was tabled in Parliament, Reliance Communications, Tata Telecom, Vodafone, Airtel, Idea and Aircel had under reported their adjusted gross revenue by Rs 46,045.75 crore during the four fiscal years running from 2006-07 through 2009-10.
"The government has issued regular demands for all the four financial years and special audit demands for two financial years 2006-07 and 2007-08. These demands overlap the short falls pointed out in the CAG report," Gangwar said.
For these two financial years, the minister said CAG has pointed out a short fall of licence fees of Rs 1,269.36 crore.
"Department of Telecom (DoT) had already issued demands for license fee amounting to Rs 896.07 crore in 2012 itself based upon the report of special auditors," he added.
Besides, DoT conducted special audit of five major telecom companies in 2009.
"On the basis of special audit demands of Rs 1,846.51 crore and Rs 1,118.54 crore as license fees and spectrum usage charges were raised. These demands are subjudice," Gangwar said.
The minister also informed the house that whenever any information regarding evasion of taxes, including under reporting of revenue is received, appropriate action is taken under relevant laws.
Searches, surveys, enquiries, assessment of income, levy of taxes, penalties and filing of prosecution in criminal courts and show cause notices are the way through which the Government takes action, the minister said.
The financial impact due to understatement of revenues are of the order of Rs 3,728.54 crore for Reliance Communications; Rs 3,215.39 crore for Tata Teleservices; Bharti Airtel (Rs 2,651.89 crore); Vodafone (Rs 1,665.39 crore), Idea (Rs 964.89 crore) and Aircel (Rs 262.83 crore), as per CAG.
Anti-dumping duty imposed on steel products from 6 nations
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India on Tuesday imposed anti-dumping duty on import of hot-rolled steel products from six nations, including China and South Korea, in a bid to shield domestic manufacturers against cheaper inward shipments.
An anti-dumping duty of $474-557 per tonne was imposed on 'hot-rolled flat products of alloy or non-alloy steel' import from China, Japan, South Korea, Russia, Brazil and Indonesia, the Department of Revenue in the Ministry of Finance said in a notification.
The duty would be in force for six months till February 7, 2017. The anti-dumping duty was imposed on recommendation of the Directorate General of Anti Dumping (DGAD).
An anti-dumping duty of $474 per tonne was imposed on import of hot-rolled flat products of alloy or non-alloy steel of a width up to 2100 mm and thickness up to 25 mm from Korea and Japan.
Korean firms attracting the anti-dumping duty are Hyundai Steel Company and POSCO. Three Japanese companies JFE Steel Corp, Nippon Steel and Sumitomo Metal Corp are also featuring in the list.
A similar anti-dumping duty was slapped on import of similar products from China, the exporter company being Angang Steel Company and Zhangjiagang.
Imports of the same from Indonesia, Russia and Brazil too attracted $474 per tonne duty. Hot rolled flat products of alloy or non-alloy steel not in coils (commonly known as sheets and plates) of a width up to 4950 mm and thickness upto 150 mm imported from Korea, Japan, China, Russia, Brazil and Indonesia would attract $557 per tonne anti-dumping duty.
DGAD "has come to the provisional conclusion that the subject goods have been exported to India from the subject countries below normal value (and) the domestic industry has suffered material injury on account of subject imports from the subject countries," the notification said. Also, DGAD felt "the injury has been caused by the dumped imports of the subject goods from the subject countries".
India on Tuesday imposed anti-dumping duty on import of hot-rolled steel products from six nations, including China and South Korea, in a bid to shield domestic manufacturers against cheaper inward shipments.
An anti-dumping duty of $474-557 per tonne was imposed on 'hot-rolled flat products of alloy or non-alloy steel' import from China, Japan, South Korea, Russia, Brazil and Indonesia, the Department of Revenue in the Ministry of Finance said in a notification.
The duty would be in force for six months till February 7, 2017. The anti-dumping duty was imposed on recommendation of the Directorate General of Anti Dumping (DGAD).
An anti-dumping duty of $474 per tonne was imposed on import of hot-rolled flat products of alloy or non-alloy steel of a width up to 2100 mm and thickness up to 25 mm from Korea and Japan.
Korean firms attracting the anti-dumping duty are Hyundai Steel Company and POSCO. Three Japanese companies JFE Steel Corp, Nippon Steel and Sumitomo Metal Corp are also featuring in the list.
A similar anti-dumping duty was slapped on import of similar products from China, the exporter company being Angang Steel Company and Zhangjiagang.
Imports of the same from Indonesia, Russia and Brazil too attracted $474 per tonne duty. Hot rolled flat products of alloy or non-alloy steel not in coils (commonly known as sheets and plates) of a width up to 4950 mm and thickness upto 150 mm imported from Korea, Japan, China, Russia, Brazil and Indonesia would attract $557 per tonne anti-dumping duty.
DGAD "has come to the provisional conclusion that the subject goods have been exported to India from the subject countries below normal value (and) the domestic industry has suffered material injury on account of subject imports from the subject countries," the notification said. Also, DGAD felt "the injury has been caused by the dumped imports of the subject goods from the subject countries".
Gold prices linger near 1-week low on steady dollar
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Gold slipped on Tuesday and continued to hover near one-week lows hit in the previous session as the dollar firmed amid increasing possibilities of a rate hike by the US Federal Reserve this year.
Spot gold eased 0.2 per cent to $1,331.97 an ounce by 0632 GMT. The metal touched its lowest since July 29 at $1,329.55 on Monday.
US gold edged down 0.3 per cent to $1,337.60 an ounce.
The dollar index, which gauges the greenback against a basket of six major rivals, erased earlier slight losses and edged up 0.1 per cent to as much as 96.514.
"Gold prices are in defensive mode after suffering quite a bit on Friday. It reflects market's expectations of a rate hike by the US Fed in December," said Vyanne Lai, an economist at National Australia Bank.
"However, the prices are not going to weaken significantly in the near term."
Prices have been resilient in the face of a rising US dollar and prospects of a rate hike as other countries are increasingly looking to raise stimulus, Lai said.
The US economy is at increasing risk of becoming trapped in a prolonged phase of slow growth that points to the need for lower interest rates than previously expected, Federal Reserve policymaker Jerome Powell was quoted as saying.
Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.
There were significant long positions last week and the liquidation after the non-farm payrolls data put pressure on prices, a Hong Kong-based precious metals trader said.
"Investors are still putting more money into gold. There is something on the horizon that they should be looking, especially the US elections. That will give uncertainty to the markets and will be good for gold."
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.67 per cent to 973.81 tonnes on Monday.
Asian shares stood atop one-year peaks on Tuesday as a desperate search for yield drove a record inflow into emerging market funds, while oil prices tried to sustain their latest bounce.
Silver was down 0.2 per cent at $19.66 an ounce after touching a near two-week low on Monday.
Platinum fell 0.5 per cent to $1,144.
Palladium, which touched a fresh two-week low at $685.47, was down 0.7 per cent at $685.63.
Gold slipped on Tuesday and continued to hover near one-week lows hit in the previous session as the dollar firmed amid increasing possibilities of a rate hike by the US Federal Reserve this year.
Spot gold eased 0.2 per cent to $1,331.97 an ounce by 0632 GMT. The metal touched its lowest since July 29 at $1,329.55 on Monday.
US gold edged down 0.3 per cent to $1,337.60 an ounce.
The dollar index, which gauges the greenback against a basket of six major rivals, erased earlier slight losses and edged up 0.1 per cent to as much as 96.514.
"Gold prices are in defensive mode after suffering quite a bit on Friday. It reflects market's expectations of a rate hike by the US Fed in December," said Vyanne Lai, an economist at National Australia Bank.
"However, the prices are not going to weaken significantly in the near term."
Prices have been resilient in the face of a rising US dollar and prospects of a rate hike as other countries are increasingly looking to raise stimulus, Lai said.
The US economy is at increasing risk of becoming trapped in a prolonged phase of slow growth that points to the need for lower interest rates than previously expected, Federal Reserve policymaker Jerome Powell was quoted as saying.
Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.
There were significant long positions last week and the liquidation after the non-farm payrolls data put pressure on prices, a Hong Kong-based precious metals trader said.
"Investors are still putting more money into gold. There is something on the horizon that they should be looking, especially the US elections. That will give uncertainty to the markets and will be good for gold."
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.67 per cent to 973.81 tonnes on Monday.
Asian shares stood atop one-year peaks on Tuesday as a desperate search for yield drove a record inflow into emerging market funds, while oil prices tried to sustain their latest bounce.
Silver was down 0.2 per cent at $19.66 an ounce after touching a near two-week low on Monday.
Platinum fell 0.5 per cent to $1,144.
Palladium, which touched a fresh two-week low at $685.47, was down 0.7 per cent at $685.63.
General Awareness
74th Quit India Movement Commemorated on August 8, 2016
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74th Quit India Movement commemoration is followed throughout the country on August 8, 2016. It is noted that the Quit India or August Kranthi Movement was launched at the Bombay Session of All India Congress Committee on August 8,1942.
Quit India:-
The Quit India Movement, or the India August Movement (August Kranti), was a civil disobedience movement launched at the Bombay session of the All-India Congress Committee or more simply by Mohandas Karamchand Gandhi on 8 August 1942, during World War II, demanding an end to British Rule of India.
- The Cripps Mission had failed, and on 8 August 1942, Gandhi made a call to Do or Die in his Quit India speech delivered in Mumbai at the Gowalia Tank Maidan. The All-India Congress Committee launched a mass protest demanding what Gandhi called “An Orderly British Withdrawal” from India.
- Even though it was wartime, the British were prepared to act. Almost the entire leadership of the INC was imprisoned without trial within hours of Gandhi’s speech. Most spent the rest of the war in prison and out of contact with the masses.
- The British had the support of the Viceroy’s Council, of the All India Muslim League, the princely states, the Indian Imperial Police, the British Indian Army and the Indian Civil Service.
- Many Indian businessmen profiting from heavy wartime spending did not support Quit India. Many students paid more attention to Subhash Chandra Bose, who was in exile and supporting the Axis Powers.
- The only outside support came from the Americans, as President Franklin D. Roosevelt pressured Prime Minister Winston Churchill to give in to some of the Indian demands. The Quit India campaign was effectively crushed.
- The British refused to grant immediate independence, saying it could happen only after the war against the Axis powers had ended.
- Sporadic small-scale violence took place around the country and the British arrested tens of thousands of leaders, keeping them imprisoned until 1945.
- In terms of immediate objectives Quit India failed because of heavy-handed suppression, weak co-ordination and the lack of a clear-cut programme of action.
- However, the British government realized that India was ungovernable in the long run due to the cost of World War II, and the question for postwar became how to exit gracefully and peacefully. For several weeks there was widespread rioting and the British lost control in some parts of the country.
- Only the strongest measures, including the use of machine guns and aerial bombing, restored their rule – at the cost of thousands of Indian lives.
- The British swiftly responded with mass detentions. Over 100,000 arrests were made, mass fines were levied and demonstrators were subjected to public flogging. Hundreds of civilians were killed in violence many shot by the police army.
- Many national leaders went underground and continued their struggle by broadcasting messages over clandestine radio stations, distributing pamphlets and establishing parallel governments.
Celebrations:-
On marking this day, Maharashtra Govt. launched Quit India II from Swaraj to Suraj Movement which would emphasize on freedom in literacy, water, Addiction among youth and corruption and also the honorable CM presents awards to several prize winners in these celebrations.
PM Narendra Modi Unveils Yaad Karo Kurbani on the Quit India Day
In order to mark the 70 years of Independence and 74 years of Quit India Movement, Prime Minister Narendra Modi unveiled the ‘Yaad Karo Kurbani’ celebrations at Alirajpur, birthplace of freedom fighter Chandra Shekhar Azad in Madhya Pradesh on August 8.
- BJP leader and Union Information and Broadcasting Minister Venkaiah Naidu addressed that all the Union Ministers will visit 150 places all over the country associated with Indian freedom movement. The list of Mnisters and their visiting places as follows,
- Home Minister Rajnath Singh – Jharkhand, birthplace of Birsa Munda and Asfaqullah Khan in Uttar Pradesh.
- Defence Minister Manohar Parrikar – Cellular jail in Andaman and Nicobar Islands and Rewari, Haryana the birthplace of Rao Tularam. Finance Minister Arun Jaitley – Jallianwala Bagh in Amritsar and Hiranagar in Jammu and Kashmir.
- Information and Broadcasting Minister Venkaiah Naidu – Azad Maidan in Mumbai and Thoothukudi in Tamil Nadu, the birthplace of Tamil poet Subramania Bharathiyar and V O Chidambaram Pillai. It is noted that Azad Maidan is from where the Quit India movement was launched.
- BJP president Amit Shah – Kakori.
74th Quit India Movement commemoration is followed throughout the country on August 8, 2016. It is noted that the Quit India or August Kranthi Movement was launched at the Bombay Session of All India Congress Committee on August 8,1942.
Quit India:-
The Quit India Movement, or the India August Movement (August Kranti), was a civil disobedience movement launched at the Bombay session of the All-India Congress Committee or more simply by Mohandas Karamchand Gandhi on 8 August 1942, during World War II, demanding an end to British Rule of India.
- The Cripps Mission had failed, and on 8 August 1942, Gandhi made a call to Do or Die in his Quit India speech delivered in Mumbai at the Gowalia Tank Maidan. The All-India Congress Committee launched a mass protest demanding what Gandhi called “An Orderly British Withdrawal” from India.
- Even though it was wartime, the British were prepared to act. Almost the entire leadership of the INC was imprisoned without trial within hours of Gandhi’s speech. Most spent the rest of the war in prison and out of contact with the masses.
- The British had the support of the Viceroy’s Council, of the All India Muslim League, the princely states, the Indian Imperial Police, the British Indian Army and the Indian Civil Service.
- Many Indian businessmen profiting from heavy wartime spending did not support Quit India. Many students paid more attention to Subhash Chandra Bose, who was in exile and supporting the Axis Powers.
- The only outside support came from the Americans, as President Franklin D. Roosevelt pressured Prime Minister Winston Churchill to give in to some of the Indian demands. The Quit India campaign was effectively crushed.
- The British refused to grant immediate independence, saying it could happen only after the war against the Axis powers had ended.
- Sporadic small-scale violence took place around the country and the British arrested tens of thousands of leaders, keeping them imprisoned until 1945.
- In terms of immediate objectives Quit India failed because of heavy-handed suppression, weak co-ordination and the lack of a clear-cut programme of action.
- However, the British government realized that India was ungovernable in the long run due to the cost of World War II, and the question for postwar became how to exit gracefully and peacefully. For several weeks there was widespread rioting and the British lost control in some parts of the country.
- Only the strongest measures, including the use of machine guns and aerial bombing, restored their rule – at the cost of thousands of Indian lives.
- The British swiftly responded with mass detentions. Over 100,000 arrests were made, mass fines were levied and demonstrators were subjected to public flogging. Hundreds of civilians were killed in violence many shot by the police army.
- Many national leaders went underground and continued their struggle by broadcasting messages over clandestine radio stations, distributing pamphlets and establishing parallel governments.
Celebrations:-
On marking this day, Maharashtra Govt. launched Quit India II from Swaraj to Suraj Movement which would emphasize on freedom in literacy, water, Addiction among youth and corruption and also the honorable CM presents awards to several prize winners in these celebrations.
PM Narendra Modi Unveils Yaad Karo Kurbani on the Quit India Day
In order to mark the 70 years of Independence and 74 years of Quit India Movement, Prime Minister Narendra Modi unveiled the ‘Yaad Karo Kurbani’ celebrations at Alirajpur, birthplace of freedom fighter Chandra Shekhar Azad in Madhya Pradesh on August 8.
- BJP leader and Union Information and Broadcasting Minister Venkaiah Naidu addressed that all the Union Ministers will visit 150 places all over the country associated with Indian freedom movement. The list of Mnisters and their visiting places as follows,
- Home Minister Rajnath Singh – Jharkhand, birthplace of Birsa Munda and Asfaqullah Khan in Uttar Pradesh.
- Defence Minister Manohar Parrikar – Cellular jail in Andaman and Nicobar Islands and Rewari, Haryana the birthplace of Rao Tularam. Finance Minister Arun Jaitley – Jallianwala Bagh in Amritsar and Hiranagar in Jammu and Kashmir.
- Information and Broadcasting Minister Venkaiah Naidu – Azad Maidan in Mumbai and Thoothukudi in Tamil Nadu, the birthplace of Tamil poet Subramania Bharathiyar and V O Chidambaram Pillai. It is noted that Azad Maidan is from where the Quit India movement was launched.
- BJP president Amit Shah – Kakori.
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