General Affairs
In A First, Special Medals For Indo-Tibetan Border Police Canines, Horses
-
NEW DELHI: For the first time, four-legged 'soldiers' who accompany troops in combat zones for sanitisation exercises and logistical tasks will be decorated with special medals instituted exclusively for them on lines of those given to troops.
The initiative has been taken by Sino-India border guarding force ITBP which has instituted an 'Animal Transport' and a 'K9' (canine) medal and has chosen its workhorse 'Thubderbolt' and female dog 'Sophia' for the maiden decoration to be awarded to them during its forthcoming 55th anniversary celebrations.
While the Indo-Tibetan Border Police force has been credited for inducting the first Belgian Malinois dogs for anti-Maoist operations in the country and other tough assignments like infantry patrols few years back, the force traditionally has a strong animal transport unit comprising horses, mules and ponies to aid troops guarding the high-altitude posts along the 3,488 km long Indo-China border.
Officials said this will be the first time that a security force had ordered the minting of special medals in this regard and till now exemplary work by these four-legged soldiers was recognised by issuing of regular commendation cards by the force chief or others.
The ITBP, they said, has made a beginning in recognising the exemplary and loyal support of these animals who literally walk shoulder-to-shoulder with the men in uniform whether in operations or any task in the internal security domain.
"The canines, horses and other animals are our silent arm which keeps working relentlessly.
"The institution of medals is a special way to convey that we are thankful to them for their loyal services. "The metal medals have been designed and minted in-house," ITBP Spokesperson Deputy Commandant Vivek K Pandey told Press Trust of India.
The special medals were recently approved by ITBP Director General Krishna Chaudhary who will himslef honour Sophia and Thunderbolt by putting the medals around their neck after a majestic parade to mark the force's anniversary in Greater Noida near here, they said.
While Sophia is credited with successfully sanitising events attended by VVIP dignitaries including numerous attended by Prime Minister Narendra Modi and has sniffed out numerous Improvised Explosive Devices in the Naxal theatre, Thunderstorm has worked for a number of years in providing ammunition and rations to high-altitude ITBP posts on the border under hazardous climate, blizzards and thin oxygen all year round.
Sophia is at present deployed in the Naxal theatre in Chhattisgarh, while Thunderstorm is training at the ITBP centre in Bhanu near Chandigarh.
The 80,000-personnel strong ITBP was raised in 1962 in the aftermath of the Chinese aggression and the force, apart from rendering border guarding duties, is tasked to carry out various activities in the internal security domain in the country while its special squad is deployed to secure Indian diplomatic missions in Afghanistan.
The initiative has been taken by Sino-India border guarding force ITBP which has instituted an 'Animal Transport' and a 'K9' (canine) medal and has chosen its workhorse 'Thubderbolt' and female dog 'Sophia' for the maiden decoration to be awarded to them during its forthcoming 55th anniversary celebrations.
Officials said this will be the first time that a security force had ordered the minting of special medals in this regard and till now exemplary work by these four-legged soldiers was recognised by issuing of regular commendation cards by the force chief or others.
The ITBP, they said, has made a beginning in recognising the exemplary and loyal support of these animals who literally walk shoulder-to-shoulder with the men in uniform whether in operations or any task in the internal security domain.
"The canines, horses and other animals are our silent arm which keeps working relentlessly.
The special medals were recently approved by ITBP Director General Krishna Chaudhary who will himslef honour Sophia and Thunderbolt by putting the medals around their neck after a majestic parade to mark the force's anniversary in Greater Noida near here, they said.
While Sophia is credited with successfully sanitising events attended by VVIP dignitaries including numerous attended by Prime Minister Narendra Modi and has sniffed out numerous Improvised Explosive Devices in the Naxal theatre, Thunderstorm has worked for a number of years in providing ammunition and rations to high-altitude ITBP posts on the border under hazardous climate, blizzards and thin oxygen all year round.
Sophia is at present deployed in the Naxal theatre in Chhattisgarh, while Thunderstorm is training at the ITBP centre in Bhanu near Chandigarh.
The 80,000-personnel strong ITBP was raised in 1962 in the aftermath of the Chinese aggression and the force, apart from rendering border guarding duties, is tasked to carry out various activities in the internal security domain in the country while its special squad is deployed to secure Indian diplomatic missions in Afghanistan.
Dalits Targeted In Name Of Cow Protection, Says Mayawati At Lucknow Rally
-
LUCKNOW: Bahujan Samaj Party chief Mayawati today attacked the Narendra Modi government at the centre, saying it is spreading hatred and communalism in Uttar Pradesh and has failed to keep its promises for the state.
Ms Mayawati was addressing a BSP rally at Babasaheb Bhimrao Ambedkar ground in Lucknow.
Attacking the central government, the BSP chief said the BJP-led government is spreading communalism and hatred in the country and the cases of crimes against Dalits and minorities have increased.
She said: "Dalits are being targeted in various parts of the country in the name of cow protection. Minorities and Dalits are being harassed, as BJP wants to convert India into a Hindu nation."
"Harassment of Dalits and minorities would stop in the state once a BSP government comes to power in Uttar Pradesh," Ms Mayawati promised the one of the large party gatherings.
She hoped to form a majority government in the state and said better law and order, especially safety of women, would be the main focus of her government.
Ms Mayawati was addressing a BSP rally at Babasaheb Bhimrao Ambedkar ground in Lucknow.
She said: "Dalits are being targeted in various parts of the country in the name of cow protection. Minorities and Dalits are being harassed, as BJP wants to convert India into a Hindu nation."
"Harassment of Dalits and minorities would stop in the state once a BSP government comes to power in Uttar Pradesh," Ms Mayawati promised the one of the large party gatherings.
She hoped to form a majority government in the state and said better law and order, especially safety of women, would be the main focus of her government.
Parliamentary Panel Invites Suggestions On Transgender Bill
-
NEW DELHI: The parliamentary panel examining the Transgender Bill has invited public suggestions with an aim to involve the community in making of the law which seeks to protect their rights.
The Transgender Persons (Protection of Rights) Bill, 2016, which seeks to define the term transgender and prohibits discrimination against the community, was introduced in the Lok Sabha in the Monsoon Session.
Speaker Sumitra Mahajan later referred the Bill, as introduced in the Lower House, to the Standing Committee on Social Justice and Empowerment for examining it.
The Bill was referred to the committee amid criticism from a section of the transgender community.
"Considering the wider implications of the proposed legislation for protection of the rights of transgender persons and for an in-depth study of the proposals in the bill, the standing committee decided to invite suggestions... from the public in general and from NGOs ... stakeholders and Institutions in particular ...," according to a Lok Sabha statement.
The Bill confers the right upon transgender persons to be recognised as such and also grants them the right to "self- perceived" gender identity.
It provides for grievance redress mechanism within each establishment to ensure rights of transgenders are protected and they are insulated from harassment or discrimination.
The measures envisaged under it provide for jail term for a minimum of six months to a maximum of two years with a fine for those found guilty of using transgender people for bonded labour or for begging.
Also, those who deny them any basic right or force them out of their homes or villages will be handed down similar punishment.
According to the 2011 Census, India has six lakh people belonging to the transgender community.
The community is among the most marginalised in the country because they don't fit into the categories of the two recognised genders of men and women.
They face issues ranging from social exclusion and discrimination to lack of education and medical facilities, and unemployment.
The Transgender Persons (Protection of Rights) Bill, 2016, which seeks to define the term transgender and prohibits discrimination against the community, was introduced in the Lok Sabha in the Monsoon Session.
The Bill was referred to the committee amid criticism from a section of the transgender community.
"Considering the wider implications of the proposed legislation for protection of the rights of transgender persons and for an in-depth study of the proposals in the bill, the standing committee decided to invite suggestions... from the public in general and from NGOs ... stakeholders and Institutions in particular ...," according to a Lok Sabha statement.
The Bill confers the right upon transgender persons to be recognised as such and also grants them the right to "self- perceived" gender identity.
It provides for grievance redress mechanism within each establishment to ensure rights of transgenders are protected and they are insulated from harassment or discrimination.
The measures envisaged under it provide for jail term for a minimum of six months to a maximum of two years with a fine for those found guilty of using transgender people for bonded labour or for begging.
Also, those who deny them any basic right or force them out of their homes or villages will be handed down similar punishment.
According to the 2011 Census, India has six lakh people belonging to the transgender community.
The community is among the most marginalised in the country because they don't fit into the categories of the two recognised genders of men and women.
They face issues ranging from social exclusion and discrimination to lack of education and medical facilities, and unemployment.
Now, Women Can Also Be Tried For Domestic Violence, Says Supreme Court
-
NEW DELHI: In a landmark verdict, the Supreme Court has widened the scope of the Domestic Violence Act by ordering deletion of the words "adult male" from it, paving the way for prosecution of women and even non-adults for subjecting a woman relative to violence and harassment.
The top court has ordered striking down of the two words from section 2(q) of the Protection of Women from Domestic Violence Act, 2005, which deals with respondents who can be sued and prosecuted under the Act for harassing a married woman in her matrimonial home.
Referring to earlier verdicts, the top court said "the microscopic difference between male and female, adult and non adult, regard being had to the object sought to be achieved by the 2005 Act, is neither real or substantial, nor does it have any rational relation to the object of the legislation."
Section 2(q) of the Act reads: "'respondent' means any adult male person who is, or has been, in a domestic relationship with the aggrieved person and against whom the aggrieved person has sought any relief under DV Act."
A bench of Justices Kurian Joseph and R F Nariman paved way for prosecution of any person irrespective of gender or age under the Domestic Violence Act, ordered deletion of the words "adult male" from the statute book saying it violated right to equality under the constitution.
The bench said that the words "adult male person" were contrary to the object of affording protection to women who have suffered from domestic violence "of any kind".
"We, therefore, strike down the words 'adult male' before the word 'person' in Section 2(q), as these words discriminate between persons similarly situated, and far from being in tune with, are contrary to the object sought to be achieved by the 2005 Act," it said.
The major verdict came on an appeal against the Bombay High Court judgement, which had resorted to the literal construction of the term 'adult male' and discharged four persons, including two girls, a woman and a minor boy, of a family from a domestic violence case on the ground that they were not "adult male" and hence cannot be prosecuted under the Domestic Violence Act.
The top court has ordered striking down of the two words from section 2(q) of the Protection of Women from Domestic Violence Act, 2005, which deals with respondents who can be sued and prosecuted under the Act for harassing a married woman in her matrimonial home.
Section 2(q) of the Act reads: "'respondent' means any adult male person who is, or has been, in a domestic relationship with the aggrieved person and against whom the aggrieved person has sought any relief under DV Act."
A bench of Justices Kurian Joseph and R F Nariman paved way for prosecution of any person irrespective of gender or age under the Domestic Violence Act, ordered deletion of the words "adult male" from the statute book saying it violated right to equality under the constitution.
The bench said that the words "adult male person" were contrary to the object of affording protection to women who have suffered from domestic violence "of any kind".
"We, therefore, strike down the words 'adult male' before the word 'person' in Section 2(q), as these words discriminate between persons similarly situated, and far from being in tune with, are contrary to the object sought to be achieved by the 2005 Act," it said.
The major verdict came on an appeal against the Bombay High Court judgement, which had resorted to the literal construction of the term 'adult male' and discharged four persons, including two girls, a woman and a minor boy, of a family from a domestic violence case on the ground that they were not "adult male" and hence cannot be prosecuted under the Domestic Violence Act.
Maratha 'Silent March' To Reach Nagpur On October 25
-
NAGPUR: A "silent march" will be taken out in the city on October 25 as part of statewide mobilisation by Marathas for their demands like reservation in jobs and education, but the Kunbis, a dominant community in Vidarbha region, have been excluded from the agitation.
With cracks seem to be developing between the two factions of the community, the Sakal Maratha Samaj, which is organising the silent march in the city, has excluded the Kunbis from the protest.
On October 25, the march will start from Reshimbagh and trek through Cotton Market, Tekdi Road and Sitabuldi to reach Kasturchand Park. From there, it will proceed to the district collector's office with young girls carrying a memorandum of demands.
It will be a silent march and follow all norms like being non-political and maintaining cleanliness that the community is adhering to in different cities, the organisers told reporters Nagpur last evening.
According to sources, the clubbing and naming the banner as Maratha-Kunbi Samaj March is apparently the point of discord between the two factions.
There is one section of Marathas (essentially the warrior clan) which has nothing to do with the Kunbi community having agriculture as occupation, they said.
The Maratha-Kunbi is a mix typical to Vidarbha region where the two seem to have assimilated.
Over six decades ago, this happened with the initiatives of stalwarts like late Panjabrao Deshmukh, the Agriculture Minister in the then Jawahralal Nehru Cabinet, allowing 'roti-beti' (exchanging food and allowing marriages) relations between the two.
The descendants of the warrior community, tracing back to Chhatrapati Shivaji, want to assert their lineage and maintain separate identity, the sources said.
So far, the Maratha-Kunbi Samaj, that has overwhelming presence of members of Maratha Vidya Prasarak Mandal and Maratha Sewa Samiti, has been dominating the morcha scene.
It had earlier planned the march on October 16, but later claimed that the state-level coordination committee instructed it to defer it till December when the winter session of the Legislature commences here, to put pressure on the state government, the sources added.
With cracks seem to be developing between the two factions of the community, the Sakal Maratha Samaj, which is organising the silent march in the city, has excluded the Kunbis from the protest.
It will be a silent march and follow all norms like being non-political and maintaining cleanliness that the community is adhering to in different cities, the organisers told reporters Nagpur last evening.
According to sources, the clubbing and naming the banner as Maratha-Kunbi Samaj March is apparently the point of discord between the two factions.
There is one section of Marathas (essentially the warrior clan) which has nothing to do with the Kunbi community having agriculture as occupation, they said.
The Maratha-Kunbi is a mix typical to Vidarbha region where the two seem to have assimilated.
Over six decades ago, this happened with the initiatives of stalwarts like late Panjabrao Deshmukh, the Agriculture Minister in the then Jawahralal Nehru Cabinet, allowing 'roti-beti' (exchanging food and allowing marriages) relations between the two.
The descendants of the warrior community, tracing back to Chhatrapati Shivaji, want to assert their lineage and maintain separate identity, the sources said.
So far, the Maratha-Kunbi Samaj, that has overwhelming presence of members of Maratha Vidya Prasarak Mandal and Maratha Sewa Samiti, has been dominating the morcha scene.
It had earlier planned the march on October 16, but later claimed that the state-level coordination committee instructed it to defer it till December when the winter session of the Legislature commences here, to put pressure on the state government, the sources added.
Business Affairs
'Middle India' critical to India's economic take off: Survey report
-
A recent survey report by People Research on India's Consumer Economy (PRICE), in partnership with Mastercard Center for Inclusive Growth, throws new light on the income-based classification and India's middle class.
According to the report, what is commonly referred to as the "middle class" in India has nothing to do with Middle India, the households located in the middle 60 per cent of the income spectrum. Rather, they are actually the top 20 per cent of households by income. The consumer class, which is actually upper class households by income, consists of some 62 million households and is sharply differentiated from the rest of the population, 208 million households and close to a billion people, according to the report.
"At 20 per cent of total households, the consumer class accounts for 55.5 per cent of total household income and has an average per capita GDP of $3,982. In contrast, the remaining 80 per cent of Indian households are left with only a 44.5 per cent share of total household income. Their per capita GDP is estimated at just under $700.12," says the report.
Marketing Consultant Rama Bijapurkar, who has also co-authored the report, says that there is call for policy to look beyond the so-called 'middle class' and start looking at productivity of Middle India.
"The top 20 per cent is the focus of the government policy because they are connected to the market economy and we are a consumption driven economy. The bottom 20 per cent get benefits of subsidies and welfare programmes but there is a need to look at the middle 60 per cent, as they are stuck in a low labour productivity situation," she adds.
The report argues that middle India or middle-income India has been neglected in the last two decades since India's first wave of economic reforms in the 1990s. If it continues to be left behind, then domestic demand is unlikely to be strong enough to help drive India's growth acceleration, it says.
However, according to the report, transforming Middle India into the nation's genuine middle class would fundamentally support the government's ambitious efforts to increase GDP growth rates to the 8-10 per cent range.
"Transforming Middle India into India's genuine middle class would fundamentally support the government's efforts in growth acceleration. With faster growth in household income in Middle India, domestic demand would become stronger, faster. This in turn would open up new opportunities for more productive business investment targeting the domestic market, including opportunities for small businesses and start-ups," the report adds.
A recent survey report by People Research on India's Consumer Economy (PRICE), in partnership with Mastercard Center for Inclusive Growth, throws new light on the income-based classification and India's middle class.
According to the report, what is commonly referred to as the "middle class" in India has nothing to do with Middle India, the households located in the middle 60 per cent of the income spectrum. Rather, they are actually the top 20 per cent of households by income. The consumer class, which is actually upper class households by income, consists of some 62 million households and is sharply differentiated from the rest of the population, 208 million households and close to a billion people, according to the report.
"At 20 per cent of total households, the consumer class accounts for 55.5 per cent of total household income and has an average per capita GDP of $3,982. In contrast, the remaining 80 per cent of Indian households are left with only a 44.5 per cent share of total household income. Their per capita GDP is estimated at just under $700.12," says the report.
Marketing Consultant Rama Bijapurkar, who has also co-authored the report, says that there is call for policy to look beyond the so-called 'middle class' and start looking at productivity of Middle India.
"The top 20 per cent is the focus of the government policy because they are connected to the market economy and we are a consumption driven economy. The bottom 20 per cent get benefits of subsidies and welfare programmes but there is a need to look at the middle 60 per cent, as they are stuck in a low labour productivity situation," she adds.
The report argues that middle India or middle-income India has been neglected in the last two decades since India's first wave of economic reforms in the 1990s. If it continues to be left behind, then domestic demand is unlikely to be strong enough to help drive India's growth acceleration, it says.
However, according to the report, transforming Middle India into the nation's genuine middle class would fundamentally support the government's ambitious efforts to increase GDP growth rates to the 8-10 per cent range.
"Transforming Middle India into India's genuine middle class would fundamentally support the government's efforts in growth acceleration. With faster growth in household income in Middle India, domestic demand would become stronger, faster. This in turn would open up new opportunities for more productive business investment targeting the domestic market, including opportunities for small businesses and start-ups," the report adds.
Govt must relook at 700 Mhz spectrum pricing, says Sunil Mittal
-
Terming as a "missed opportunity" the non-bidding for the high quality but expensive 700Mhz in the just concluded spectrum auction, Bharti Enterprises Chairman Sunil Mittal said on Friday the government needs to have a relook at the pricing of the particular band.
"Three or four solid networks around the 700Mhz would have taken care of a lot of rural broadband networks. This is a missed opportunity. I hope the government will look into this and correct that particular part," Mittal said in New Delhi at the India Economic Summit organised by the WEF and CII.
India's biggest-ever spectrum auction ended on Thursday without yielding the expected results with telecom players placing bids worth just Rs 65,789 crore in five days, leaving nearly 60 per cent of airwaves, including premium 4G bands, unsold. The auctions could have fetched Rs 5.6 lakh crore to the exchequer if all spectrum was sold at the reserve price.
According to the industry, the premium 700 MHz and 900 MHz spectrum found no takers, mainly because of high reserve or auction start price set by the government. The 700MHz band alone had the potential to fetch Rs 4 lakh crore, when sold at the base price.
"I have always maintained that. The pricing, you yourself have seen. Nearly Rs 60,000 crore for a small little tiny 5 MHz, it was bound not to get any response. Nobody should be surprised," Mittal said when asked if the telecom companies did not bid for 700 Mhz band due to the high pricing.
Lamenting on missing out on the 700MHz, he said it is truly a very high quality spectrum, "which in fact Sri Lanka has not got it from broadcasters as yet, we have been able to get it, still have not been to put into good use".
Although only 40 per cent of the spectrum that was put up for auction was taken, Mittal refused to call the process a failure.
"It is not a failure. It is $10 billion, Rs 66,000 crore (auction). Why do you call it a failure? I think the government did very well by putting on the table a lot of spectrum and it must be congratulated for running a fantastic, open process," he said.
When asked whether service quality will improve now as more airwaves are available, he said: "In the coming months, you will see massive improvement across the country, not just from my company but all the industry players who have participated in the auction."
Stating that the ingredient that drives high quality networks is "clearly nothing but spectrum", Mittal said: "India is finally getting out of fractured spectrum. It was earlier very small, it was then fractured among 12 players, we are getting down to four players now and spectrum will not be an issue. This industry is also investing enough and more towers are coming up."
He said that earlier the Indian spectrum position was woefully inadequate when compared with any other parts of the world.
"We have come from that problem in a dramatically quick way and fast manner... I think the government is trying to harmonise lot of spectrum. A lot of spectrum have been put on the table, parts in section, and segments of that spectrum are extremely expensive," he added.
On whether the amount of money that Airtel and Vodafone had spent on spectrum auction was a response to the capital pumped by Reliance Jio, Mittal said: "People have their own spectrum gaps, people have gone for what they needed."
Market leader Bharti Airtel acquired 173.8 Mhz spectrum in bands of 1800MHz, 2100 MHz and 2300 Mhz through auction for Rs 14,244 crore in circles including Kerala, Assam, Maharashtra, Delhi, Mumbai and North East.
Terming as a "missed opportunity" the non-bidding for the high quality but expensive 700Mhz in the just concluded spectrum auction, Bharti Enterprises Chairman Sunil Mittal said on Friday the government needs to have a relook at the pricing of the particular band.
"Three or four solid networks around the 700Mhz would have taken care of a lot of rural broadband networks. This is a missed opportunity. I hope the government will look into this and correct that particular part," Mittal said in New Delhi at the India Economic Summit organised by the WEF and CII.
India's biggest-ever spectrum auction ended on Thursday without yielding the expected results with telecom players placing bids worth just Rs 65,789 crore in five days, leaving nearly 60 per cent of airwaves, including premium 4G bands, unsold. The auctions could have fetched Rs 5.6 lakh crore to the exchequer if all spectrum was sold at the reserve price.
According to the industry, the premium 700 MHz and 900 MHz spectrum found no takers, mainly because of high reserve or auction start price set by the government. The 700MHz band alone had the potential to fetch Rs 4 lakh crore, when sold at the base price.
"I have always maintained that. The pricing, you yourself have seen. Nearly Rs 60,000 crore for a small little tiny 5 MHz, it was bound not to get any response. Nobody should be surprised," Mittal said when asked if the telecom companies did not bid for 700 Mhz band due to the high pricing.
Lamenting on missing out on the 700MHz, he said it is truly a very high quality spectrum, "which in fact Sri Lanka has not got it from broadcasters as yet, we have been able to get it, still have not been to put into good use".
Although only 40 per cent of the spectrum that was put up for auction was taken, Mittal refused to call the process a failure.
"It is not a failure. It is $10 billion, Rs 66,000 crore (auction). Why do you call it a failure? I think the government did very well by putting on the table a lot of spectrum and it must be congratulated for running a fantastic, open process," he said.
When asked whether service quality will improve now as more airwaves are available, he said: "In the coming months, you will see massive improvement across the country, not just from my company but all the industry players who have participated in the auction."
Stating that the ingredient that drives high quality networks is "clearly nothing but spectrum", Mittal said: "India is finally getting out of fractured spectrum. It was earlier very small, it was then fractured among 12 players, we are getting down to four players now and spectrum will not be an issue. This industry is also investing enough and more towers are coming up."
He said that earlier the Indian spectrum position was woefully inadequate when compared with any other parts of the world.
"We have come from that problem in a dramatically quick way and fast manner... I think the government is trying to harmonise lot of spectrum. A lot of spectrum have been put on the table, parts in section, and segments of that spectrum are extremely expensive," he added.
On whether the amount of money that Airtel and Vodafone had spent on spectrum auction was a response to the capital pumped by Reliance Jio, Mittal said: "People have their own spectrum gaps, people have gone for what they needed."
Market leader Bharti Airtel acquired 173.8 Mhz spectrum in bands of 1800MHz, 2100 MHz and 2300 Mhz through auction for Rs 14,244 crore in circles including Kerala, Assam, Maharashtra, Delhi, Mumbai and North East.
India needs to overcome global challenges to realise full potential, says Arun Jaitley
-
Finance Minister Arun Jaitley has said the Indian economy needs to overcome global challenges if it has to realise the full potential.
"There are global challenges and one of the lessons for India to learn, therefore, is to build such firewalls around its own economy that the impact of these global developments can be minimised," Jaitley said in an interview to ET Now.
Jaitley's statement comes few days after the IMF said India would see a 7.6 per cent growth for the year 2016-17.
The IMF said that India's GDP will expand so long it continues to reform its tax system and eliminate subsidies to provide more resources for investments in infrastructure, education and healthcare.
Arun Jaitley highlighted major issues facing the Indian economy, including ability for banks to lend for growth, low demand and need for robust private sector.
The Finance Minister said India will have to face the non-performing assets (NPA) crisis and work on re-structuring the banking sector.
Yet, a growth rate of 7-8 per cent that was recorded by India is comendable taking into account the darwbacks.
"We are growing much faster than any other economy in the world, but it does not really reflect our real potential, which is helping us grow amidst several adversities," Jaitley said.
Meanwhile, Jaitley outlined that the Chinese economy is slowing down after a good run of three decades.
Last year, the India's GDP grew at 7.6 per cent as compared to China whose GDP was 6.9 per cent.
"The Chinese themselves are conceding that the growth now would be relatively slower than what it was in the past. Fortunately, for us in India, we are not a part of the Chinese supply chain and therefore we are not so intrinsically linked but when the world gets impacted, India cannot remain isolated," explained Jaitley.
The Finance Minister also discussed other challenges India faces in the global front, including the uncertainty in international markets after the Brexit vote and the upcoming US presidential elections.
The US presidential elections according to Jaitley is fearsome because there is a possibility of the world's most powerful economy to turn protectionist.
If this happens it will have a trickle down effect on other economies, especially India.
Finance Minister Arun Jaitley has said the Indian economy needs to overcome global challenges if it has to realise the full potential.
"There are global challenges and one of the lessons for India to learn, therefore, is to build such firewalls around its own economy that the impact of these global developments can be minimised," Jaitley said in an interview to ET Now.
Jaitley's statement comes few days after the IMF said India would see a 7.6 per cent growth for the year 2016-17.
The IMF said that India's GDP will expand so long it continues to reform its tax system and eliminate subsidies to provide more resources for investments in infrastructure, education and healthcare.
Arun Jaitley highlighted major issues facing the Indian economy, including ability for banks to lend for growth, low demand and need for robust private sector.
The Finance Minister said India will have to face the non-performing assets (NPA) crisis and work on re-structuring the banking sector.
Yet, a growth rate of 7-8 per cent that was recorded by India is comendable taking into account the darwbacks.
"We are growing much faster than any other economy in the world, but it does not really reflect our real potential, which is helping us grow amidst several adversities," Jaitley said.
Meanwhile, Jaitley outlined that the Chinese economy is slowing down after a good run of three decades.
Last year, the India's GDP grew at 7.6 per cent as compared to China whose GDP was 6.9 per cent.
"The Chinese themselves are conceding that the growth now would be relatively slower than what it was in the past. Fortunately, for us in India, we are not a part of the Chinese supply chain and therefore we are not so intrinsically linked but when the world gets impacted, India cannot remain isolated," explained Jaitley.
The Finance Minister also discussed other challenges India faces in the global front, including the uncertainty in international markets after the Brexit vote and the upcoming US presidential elections.
The US presidential elections according to Jaitley is fearsome because there is a possibility of the world's most powerful economy to turn protectionist.
If this happens it will have a trickle down effect on other economies, especially India.
Reliance Jio iPhone users to get free service for 15 months
-
Mukesh Ambani-led Reliance Jio will offer free voice calls, 20GB data and unlimited SMS for one year, worth Rs 18,000, to all new iPhone users on its network .
All new iPhone users on Jio network can avail this offer from January 1 next year after their 'welcome plan' expires on December 31, 2016.
Under this new scheme, the iPhone users on Jio's networkwill receive one year of complimentary services, sources said.
This means people who buy any iPhone device from Reliance Retail or Apple store and use Jio connection would get the 'Welcome Offer' completely free till December 31, 2017.
From January 1, all these iPhone users will get the Rs 1,499 plan completely free for 1 year, which equals value worth Rs 18,000.
The Rs 1,499 plan includes unlimited local and STD voice calling and national roaming, 4G Data of up to 20 GB, unlimited 4G data at night, 40GB of WiFi data, unlimited SMS and unlimited Jio Apps subscription.
Sources said this translates into 15 months of Jio services absolutely free for new iPhone buyers.
The Jio offer is not restricted only to newly launched iPhone 7 and 7-Plus and would also be valid on iPhone 6, 6-Plus, 6S-Plus, SE.
Also, for the first time ever, enterprise customers will get a 25 per cent discount on the device and attractive tariff plans.
Jio is a 4G-only network, as compared to all other networks in India that are 100 per cent 2G, 50 per cent 3G and 10 per cent 4G.
Apple users on Jio network would get to enjoy 100 per cent 4G-data experience, High Definition voice calls (powered by VoLTE), High Definition Facetime calls, Buffer-free HD video viewing and 300+ channels of Live TV.
Mukesh Ambani-led Reliance Jio will offer free voice calls, 20GB data and unlimited SMS for one year, worth Rs 18,000, to all new iPhone users on its network .
All new iPhone users on Jio network can avail this offer from January 1 next year after their 'welcome plan' expires on December 31, 2016.
Under this new scheme, the iPhone users on Jio's networkwill receive one year of complimentary services, sources said.
This means people who buy any iPhone device from Reliance Retail or Apple store and use Jio connection would get the 'Welcome Offer' completely free till December 31, 2017.
From January 1, all these iPhone users will get the Rs 1,499 plan completely free for 1 year, which equals value worth Rs 18,000.
The Rs 1,499 plan includes unlimited local and STD voice calling and national roaming, 4G Data of up to 20 GB, unlimited 4G data at night, 40GB of WiFi data, unlimited SMS and unlimited Jio Apps subscription.
Sources said this translates into 15 months of Jio services absolutely free for new iPhone buyers.
The Jio offer is not restricted only to newly launched iPhone 7 and 7-Plus and would also be valid on iPhone 6, 6-Plus, 6S-Plus, SE.
Also, for the first time ever, enterprise customers will get a 25 per cent discount on the device and attractive tariff plans.
Jio is a 4G-only network, as compared to all other networks in India that are 100 per cent 2G, 50 per cent 3G and 10 per cent 4G.
Apple users on Jio network would get to enjoy 100 per cent 4G-data experience, High Definition voice calls (powered by VoLTE), High Definition Facetime calls, Buffer-free HD video viewing and 300+ channels of Live TV.
India's mobile user base declines to 103.42 crore in July: Trai
-
The country's mobile user base declined marginally to 103.42 crore at the end of July this year from 103.51 crore in June, primarily due to operators like Reliance and Tata Teleservices losing subscribers.
Total telecom customer base (wireless and wireline) at the end of July stood at 105.88 crore, down 1.01 per cent from 105.98 crore at the end of June 2016, sectoral regulator TRAI said today.
This is not the first time that telecom base in the country has seen a month-on-month decline. In the month of May, the mobile userbase had shrunk 1.1 per cent, while the overall subscriber base had fallen 1.26 per cent compared to the base in April.
The overall tele-density -- described as number of people with phones per 100 people -- in India declined from 83.20 at the end of June to 83.04 at the end of July, 2016.
TRAI said the wireline (landline) userbase fell 0.13 per cent to 2.46 crore at the end of July 2016.
Reliance Communications lost a whopping 32.4 lakh customers, while Tata Teleservices and Sistema lost 6,96,325 and 2,28,626 subscribers, respectively in the said month.
Bharti Airtel led the growth tally with a net addition of 10.7 lakh new mobile customers, taking its total subscriber base to 25.68 crore.
Vodafone added 3,26,248 new subscribers, taking its total base to 19.97 crore, while Idea added 2,56,170 new users taking its subscriber base to 17.64 crore at the end of July, 2016.
Aircel added 4,03,603 new users and Telenor added 19,049 users, while state-run telcos -- BSNL and MTNL -- added 1.17 million and 6,730 users in the said month.
The number of broadband subscribers increased to 16.69 crore at the end of July from 15.98 crore in June. Of these, 14.89 crore were mobile devices users (phones and dongles), while 1.75 crore were wired subscribers and 5.4 lakh used fixed wireless (WiFi, WiMax, Point-to-Point Radio and VSAT), TRAI said.
The country's mobile user base declined marginally to 103.42 crore at the end of July this year from 103.51 crore in June, primarily due to operators like Reliance and Tata Teleservices losing subscribers.
Total telecom customer base (wireless and wireline) at the end of July stood at 105.88 crore, down 1.01 per cent from 105.98 crore at the end of June 2016, sectoral regulator TRAI said today.
This is not the first time that telecom base in the country has seen a month-on-month decline. In the month of May, the mobile userbase had shrunk 1.1 per cent, while the overall subscriber base had fallen 1.26 per cent compared to the base in April.
The overall tele-density -- described as number of people with phones per 100 people -- in India declined from 83.20 at the end of June to 83.04 at the end of July, 2016.
TRAI said the wireline (landline) userbase fell 0.13 per cent to 2.46 crore at the end of July 2016.
Reliance Communications lost a whopping 32.4 lakh customers, while Tata Teleservices and Sistema lost 6,96,325 and 2,28,626 subscribers, respectively in the said month.
Bharti Airtel led the growth tally with a net addition of 10.7 lakh new mobile customers, taking its total subscriber base to 25.68 crore.
Vodafone added 3,26,248 new subscribers, taking its total base to 19.97 crore, while Idea added 2,56,170 new users taking its subscriber base to 17.64 crore at the end of July, 2016.
Aircel added 4,03,603 new users and Telenor added 19,049 users, while state-run telcos -- BSNL and MTNL -- added 1.17 million and 6,730 users in the said month.
The number of broadband subscribers increased to 16.69 crore at the end of July from 15.98 crore in June. Of these, 14.89 crore were mobile devices users (phones and dongles), while 1.75 crore were wired subscribers and 5.4 lakh used fixed wireless (WiFi, WiMax, Point-to-Point Radio and VSAT), TRAI said.
General Awareness
Singapore PM Lee Hsien Loong visit to India – An Overview
-
Prime Minister of Singapore Lee Hsien Loongarrived in India for a five day visit(October 3 to October 7) aimed at deepening bilateral ties in a range of areas including trade and investment.
About Lee Hsien Loong :
Lee Hsien Loong is a Singaporean politician and the current Prime Minister of Singapore. In 2004, Lee became the nation’s third prime minister after taking over the leadership of the People’s Action Party (PAP) when former prime minister Goh Chok Tong stepped down from the position.
- Lee subsequently led his party to victory in the 2006, 2011 and 2015 general elections. He began his current term on 15 January 2016. Lee is the eldest son of Singapore’s first Prime Minister,Lee Kuan Yew.
- Lee graduated fromTrinity College, Cambridge University as senior wrangler in 1974 and later earned a Master of Public Administration at Harvard’s Kennedy School of Government.
- From 1971 to 1984, he served in the Singapore Armed Forces where he rose to the rank ofbrigadier general.
- He won his first election for Member of Parliament in 1984, contesting as a member of the People’s Action Party. Under Singapore’s second prime minister, Goh Chok Tong, Lee served as the Minister for Trade and Industry, Minister for Finance and Deputy Prime Minister.
His Visit to India :
The Singaporean Prime Minister was accompanied by his wife Ho Ching, a number of key Ministers and senior officials.
- During the visit, he was hosted for lunch by Prime Minister Narendra Modi and the two leaders hold bilateral talks to explore ways to bolster ties between the two countries.
- Both leaders witnessed the exchange of an MOU on cooperation in industrial property between the Department of Industrial Policy and Promotion and Singapore’s Intellectual Property Office.
Besides that, two more MOUs will be exchanged on cooperation on
- Establishment of a North East Skills Centre in Assam between the Assam Government and the Institute of Technical Education Education Services, and
- Cooperation in skills development between the National Skill Development Corporation and Singapore’s Institute of Technical Education Education Services.
Both shared their know-how with them as goodwill and it is a base from which we can talk about other things, other areas of cooperation in tourism, projects, investments, hotels.
- Investors in Singapore may also be hit if India amends its 2006 tax treaty with the Republic so investors will no longer be able to avoid capital gains tax.
- India’s review of its tax treaty with Mauritius to end round-tripping of black money (illegally undeclared income) from India in May this year spurred worries that it would be making similar changes to its agreement with Singapore.
MoUs were signed in the field of industrial property cooperation and skill development
India and Singapore signed three agreements, including two in the area of skill development, following delegation-level talks headed by Prime Minister Narendra Modi and Singapore PM Lee Hsien Loong.
- One memorandum of understanding (MoU) was signed between Singapore’s Institute of Technical Education (ITE) Education Services (ITEES) andIndia’s National Skill Development Corporation on collaboration in technical and vocational education and training.
- Another MoU was signed between the Assam government and ITEES Singapore also on collaboration in technical and vocational education and training.
- A third MoU was signed in the field of industrial property cooperation.
Singapore :
- It is one of the Country in Asia
- Capital : Singapore
- Currency: Singapore dollar
Prime Minister of Singapore Lee Hsien Loongarrived in India for a five day visit(October 3 to October 7) aimed at deepening bilateral ties in a range of areas including trade and investment.
About Lee Hsien Loong :
Lee Hsien Loong is a Singaporean politician and the current Prime Minister of Singapore. In 2004, Lee became the nation’s third prime minister after taking over the leadership of the People’s Action Party (PAP) when former prime minister Goh Chok Tong stepped down from the position.
- Lee subsequently led his party to victory in the 2006, 2011 and 2015 general elections. He began his current term on 15 January 2016. Lee is the eldest son of Singapore’s first Prime Minister,Lee Kuan Yew.
- Lee graduated fromTrinity College, Cambridge University as senior wrangler in 1974 and later earned a Master of Public Administration at Harvard’s Kennedy School of Government.
- From 1971 to 1984, he served in the Singapore Armed Forces where he rose to the rank ofbrigadier general.
- He won his first election for Member of Parliament in 1984, contesting as a member of the People’s Action Party. Under Singapore’s second prime minister, Goh Chok Tong, Lee served as the Minister for Trade and Industry, Minister for Finance and Deputy Prime Minister.
His Visit to India :
The Singaporean Prime Minister was accompanied by his wife Ho Ching, a number of key Ministers and senior officials.
- During the visit, he was hosted for lunch by Prime Minister Narendra Modi and the two leaders hold bilateral talks to explore ways to bolster ties between the two countries.
- Both leaders witnessed the exchange of an MOU on cooperation in industrial property between the Department of Industrial Policy and Promotion and Singapore’s Intellectual Property Office.
Besides that, two more MOUs will be exchanged on cooperation on
- Establishment of a North East Skills Centre in Assam between the Assam Government and the Institute of Technical Education Education Services, and
- Cooperation in skills development between the National Skill Development Corporation and Singapore’s Institute of Technical Education Education Services.
Both shared their know-how with them as goodwill and it is a base from which we can talk about other things, other areas of cooperation in tourism, projects, investments, hotels.
- Investors in Singapore may also be hit if India amends its 2006 tax treaty with the Republic so investors will no longer be able to avoid capital gains tax.
- India’s review of its tax treaty with Mauritius to end round-tripping of black money (illegally undeclared income) from India in May this year spurred worries that it would be making similar changes to its agreement with Singapore.
MoUs were signed in the field of industrial property cooperation and skill development
India and Singapore signed three agreements, including two in the area of skill development, following delegation-level talks headed by Prime Minister Narendra Modi and Singapore PM Lee Hsien Loong.
- One memorandum of understanding (MoU) was signed between Singapore’s Institute of Technical Education (ITE) Education Services (ITEES) andIndia’s National Skill Development Corporation on collaboration in technical and vocational education and training.
- Another MoU was signed between the Assam government and ITEES Singapore also on collaboration in technical and vocational education and training.
- A third MoU was signed in the field of industrial property cooperation.
Singapore :
- It is one of the Country in Asia
- Capital : Singapore
- Currency: Singapore dollar
No comments:
Post a Comment