General Affairs
Bihar Moves Supreme Court Against Patna High Court's Order On Liquor Ban
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NEW DELHI: The Bihar government today moved the Supreme Court challenging the Patna High Court order quashing the notification banning consumption and sale of liquor in the state.
The appeal against the high court's September 30 decision was mentioned before a bench headed by Chief Justice TS Thakur which agreed to give Bihar government an urgent hearing on Friday.
The petition, which was mentioned through senior advocate Rajiv Dhavan and advocate Keshav Mohan, urged the top court to stay the high court order, quashing the government notification to ban liquor.
However two days after the high court quashed the order on prohibition, Bihar government on Gandhi Jayanti came out with a new law banning liquor with harsher provisions like arrest of all adults in the event of recovery of the contraband in their house.
In its notification, the government notified the Bihar Prohibition and Excise Act, 2016 to ensure that the ban on sale and consumption of alcohol including Indian Made Foreign Liquor (IMFL) as well spiced and domestic liquor, continued in the state.
While assailing September 30 high court verdict, Bihar government urged the court to decide whether the State can impose absolute prohibition on distribution and consumption of liquor and whether an individual can claim right to consume liquor as his or her fundamental right under the Constitution.
It claimed that as a consequence of the high court order, the state government's efforts to bring complete prohibition on liquor, in performance of its constitutional obligations, has been frustrated.
The appeal against the high court's September 30 decision was mentioned before a bench headed by Chief Justice TS Thakur which agreed to give Bihar government an urgent hearing on Friday.
The petition, which was mentioned through senior advocate Rajiv Dhavan and advocate Keshav Mohan, urged the top court to stay the high court order, quashing the government notification to ban liquor.
However two days after the high court quashed the order on prohibition, Bihar government on Gandhi Jayanti came out with a new law banning liquor with harsher provisions like arrest of all adults in the event of recovery of the contraband in their house.
In its notification, the government notified the Bihar Prohibition and Excise Act, 2016 to ensure that the ban on sale and consumption of alcohol including Indian Made Foreign Liquor (IMFL) as well spiced and domestic liquor, continued in the state.
While assailing September 30 high court verdict, Bihar government urged the court to decide whether the State can impose absolute prohibition on distribution and consumption of liquor and whether an individual can claim right to consume liquor as his or her fundamental right under the Constitution.
It claimed that as a consequence of the high court order, the state government's efforts to bring complete prohibition on liquor, in performance of its constitutional obligations, has been frustrated.
Forces Giving Befitting Reply to Terror Attacks, Says Rajnath Singh
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LEH: Home Minister Rajnath Singh said that security forces were giving a befitting reply to attacks by Pakistan-based terror groups, hours after terrorists struck adjoining camps of army and Border Security Force (BSF) in Kashmir's Baramulla.
One BSF personnel died in the attack and another was severely injured.
Last night's attack on the security forces camp in Baramulla, 50 km from capital Srinagar, took place a fortnight after fidayeen or 'suicide squad' terrorists sneaked into an army base in Uri and attacked with grenades and heavy gunfire. 19 soldiers died in the attack.
The Home Minister is on a two-day visit to Leh and Kargil to interact with a cross-section of people and take their suggestions on resolution to the Kashmir issue. Asked about his visit to Ladakh, Mr Singh said he has come to understand the problems of the region by interacting with a cross section of people.
"Whatever problems the people face here, we will try to resolve them," he told reporters in Leh.
This is Mr Singh's fourth visit to Jammu and Kashmir ever since the unrest began in the state following the killing of Hizbul Mujahideen terrorist Burhan Wani on July 8.
Mr Singh was also part of an all-party delegation to Srinagar and Jammu on September 4-5. The leaders of various political parties met over 400 people who came in 50 different delegations representing various sections of society in Srinagar and Jammu.
One BSF personnel died in the attack and another was severely injured.
Last night's attack on the security forces camp in Baramulla, 50 km from capital Srinagar, took place a fortnight after fidayeen or 'suicide squad' terrorists sneaked into an army base in Uri and attacked with grenades and heavy gunfire. 19 soldiers died in the attack.
"Whatever problems the people face here, we will try to resolve them," he told reporters in Leh.
This is Mr Singh's fourth visit to Jammu and Kashmir ever since the unrest began in the state following the killing of Hizbul Mujahideen terrorist Burhan Wani on July 8.
Mr Singh was also part of an all-party delegation to Srinagar and Jammu on September 4-5. The leaders of various political parties met over 400 people who came in 50 different delegations representing various sections of society in Srinagar and Jammu.
Supreme Court Scrutinises Impact Of Mobile Towers, Seeks Centre's Report
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NEW DELHI: The Supreme Court today initiated a scrutiny of "deleterious" effects of radiation emanating from mobile towers and sought a report from the centre on several aspects including steps taken to enforce standards for such emissions.
"What are adverse impacts of such mobile towers? Is there any agency to monitor? Have you (Department of Telecom) got a system in place to enforce the standards, if any, for radiation from such towers," a bench comprising Chief Justice TS Thakur and Justices C Nagappan and AM Khanwilkar asked.
The bench directed Additional Solicitor General PS Patwalia, appearing for the DoT, to file a report apprising the court about issues including the effects of radiation and steps taken to contain them.
During the hearing, the bench asked DoT how it has been enforcing standards for emission of radiation from these towers.
"Are the standards of radiation from cell towers in the country at par with international standards," it asked, adding how many mobile towers have been installed by the service providers in the country so far and whether they have been checked by the DoT.
On being pointed out by lawyer Prashant Bhushan, appearing for a Noida resident, that such towers have been installed in residential areas and near schools, the bench wanted to know from the government whether there were any regulations on the issue and if yes, what are those.
"How many violations of regulations have been reported," the bench asked and sought information from DoT about the action taken so far against the violators.
The top court also asked the government to set a time-frame to make all phone service providers "fully compliant" to radiation standards and norms.
"I need some time to respond," Mr Patwalia said. The bench then posted the batch of petitions, including the one filed by Noida resident Naresh Chand Gupta, for further hearing on October 17.
Earlier, the court had sought response from the centre and others on a plea seeking protection of citizens from "deleterious" effects of radiation emanating from mobile towers.
"What are adverse impacts of such mobile towers? Is there any agency to monitor? Have you (Department of Telecom) got a system in place to enforce the standards, if any, for radiation from such towers," a bench comprising Chief Justice TS Thakur and Justices C Nagappan and AM Khanwilkar asked.
The bench directed Additional Solicitor General PS Patwalia, appearing for the DoT, to file a report apprising the court about issues including the effects of radiation and steps taken to contain them.
During the hearing, the bench asked DoT how it has been enforcing standards for emission of radiation from these towers.
"Are the standards of radiation from cell towers in the country at par with international standards," it asked, adding how many mobile towers have been installed by the service providers in the country so far and whether they have been checked by the DoT.
"How many violations of regulations have been reported," the bench asked and sought information from DoT about the action taken so far against the violators.
The top court also asked the government to set a time-frame to make all phone service providers "fully compliant" to radiation standards and norms.
"I need some time to respond," Mr Patwalia said. The bench then posted the batch of petitions, including the one filed by Noida resident Naresh Chand Gupta, for further hearing on October 17.
Earlier, the court had sought response from the centre and others on a plea seeking protection of citizens from "deleterious" effects of radiation emanating from mobile towers.
Terror, Hatred Can Never Succeed: Rahul Gandhi On Baramulla Attack
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NEW DELHI: Condemning the terror attack on two adjoining camps of the BSF and the Army in Baramulla in Jammu and Kashmir, Congress Vice President Rahul Gandhi today said terror and hatred can never succeed against the courage and resolve of our soldiers.
"Strongly condemn the attack on the army base in Baramulla.Terror&hatred can never succeed against the courage&resolve of our bravehearts," he said on Twitter.
A BSF personnel was killed while another was injured when terrorists attacked two adjoining camps of the Army and the paramilitary force in Baramulla.
The heavily-armed terrorists attacked the two camps belonging to Rashtriya Rifles and the BSF late last night, leading to a fierce gun-battle with the security forces.
"My thoughts&prayers are with our soldiers as they defend and protect our country. Salute to the martyr who laid down his life," Mr Gandhi said.
"Strongly condemn the attack on the army base in Baramulla.Terror&hatred can never succeed against the courage&resolve of our bravehearts," he said on Twitter.
A BSF personnel was killed while another was injured when terrorists attacked two adjoining camps of the Army and the paramilitary force in Baramulla.
The heavily-armed terrorists attacked the two camps belonging to Rashtriya Rifles and the BSF late last night, leading to a fierce gun-battle with the security forces.
"My thoughts&prayers are with our soldiers as they defend and protect our country. Salute to the martyr who laid down his life," Mr Gandhi said.
Goa BJP Cancels Defence Minister Manohar Parrikar's Felicitation After Baramulla Attack
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PANAJI: In the wake of the terror attack on camps of the Army and the BSF in north Kashmir's Baramulla last night, the Goa unit of BJP today said it has cancelled a felicitation ceremony of Defence Minister Manohar Parrikar which was scheduled for on Tuesday.
"The felicitation, which was planned to be held tomorrow (October 4), stands cancelled due to the terrorist attack on army base at Baramulla," BJP state unit president Vinay Tendulkar said.
He added that the ceremony has not been postponed but cancelled altogether.
Stating that it was Mr Parrikar's request to cancel the function, Mr Tendulkar added that the BJP local unit too had decided last night not to go ahead with the event following the attack.
At least two terrorists and a BSF personnel were killed, while one BSF jawan was injured when terrorists attacked two adjoining camps of the Army and the paramilitary force at Baramulla late last night.
BJP had decided to host a public reception for Mr Parrikar at Azad Maidan in Panaji on Tuesday for the "successful surgical strikes" across the Line of Control (LoC). On Saturday, the party had announced that they would bring Mr Parrikar in a procession from Dabolim airport to Panaji.
BJP's decision had evoked strong reaction from different quarters, including party's ally Maharashtrawadi Gomantak Party (MGP) stating that such an event should not be held when our soldiers are braving terrorists on the border.
MGP leader Sudin Dhavalikar had told reporters in Vasco that even Mr Parrikar would not accept such a felicitation.
Newly-formed Goa Forward Party, which was the first one to oppose the felicitation, had cautioned BJP against politicising the efforts of brave soldiers.
"The felicitation, which was planned to be held tomorrow (October 4), stands cancelled due to the terrorist attack on army base at Baramulla," BJP state unit president Vinay Tendulkar said.
He added that the ceremony has not been postponed but cancelled altogether.
Stating that it was Mr Parrikar's request to cancel the function, Mr Tendulkar added that the BJP local unit too had decided last night not to go ahead with the event following the attack.
At least two terrorists and a BSF personnel were killed, while one BSF jawan was injured when terrorists attacked two adjoining camps of the Army and the paramilitary force at Baramulla late last night.
BJP's decision had evoked strong reaction from different quarters, including party's ally Maharashtrawadi Gomantak Party (MGP) stating that such an event should not be held when our soldiers are braving terrorists on the border.
MGP leader Sudin Dhavalikar had told reporters in Vasco that even Mr Parrikar would not accept such a felicitation.
Newly-formed Goa Forward Party, which was the first one to oppose the felicitation, had cautioned BJP against politicising the efforts of brave soldiers.
Business Affairs
Sensex regains its crucial 28,000 level: Five factors that drove the market higher
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The market started off the October quarter on a stellar note with S&P BSE Sensex rising 377 points to reclaim its crucial 28,000-mark, while the broader Nifty50 topped its key 8,700-mark riding on positive manufacturing data at home along with favourable global cues.
The 30-share index ended the day at 28,243, up 377.33 points, while broad-based 50-share index quoted 8,738, up 126.95 points at close.
Below are five factors that are fuelling the rally in the benchmark indices:
- Business conditions hold positive momentum: Market rallied buoyed by manufacturing PMI for September that came in above the 50-mark for the ninth straight month signalling expansion, and improving business conditions. However, the rate of expansion eased since August and was relatively modest at 52.1 in September as compared to 52.6 in August. A reading above 50 points to expansion while one below means contraction.
- RBI rate cut hopes: While concensus says Reserve Bank of India (RBI) will adopt a wait-and-watch approach on its policy review tomorrow, many believe it will take a dovish stance on future rate trajectory as consumer inflation fell to a five-month low in August and manufacturing also contracted slightly in September. "There is some optimism because of an expectation of a rate cut," Saurabh Jain, assistant vice president of research at SMC Global Securities told Reuters.
- Auto stocks boost index gains: Auto makers gained on the back of upbeat monthly sales in September. Maruti Suzuki rose as much as 4.43 per cent to a record high after posting a rise of 31 per cent in September vehicle sales. Mahindra and Mahindra and Eicher Motors rose over 3 percent each, while Tata Motors was up 2.08 per cent.
- Deutsche fears recede: Shares of Deutsche Bank recovered slightly on Friday on reports that the bank was negotiating a much smaller fine with the US Department of Justice, though the Wall Street Journal reported on Sunday that the talks were in flux. The DOJ fined Germany's largest bank $14 billion earlier in September for what it alleged were sales of toxic mortgage-backed securities.
- UK to trigger Brexit process by March 2017: British Prime Minister Theresa May said she will formally trigger the process of the UK's exit from the 28-nation EU by the end of March 2017, ending the speculation surrounding the timing of the important move. May confirmed the deadline for triggering Article 50 of the Lisbon Treaty, which sets in place a two-year process of withdrawal from the European Union or so-called Brexit, as the first quarter of next year.
The market started off the October quarter on a stellar note with S&P BSE Sensex rising 377 points to reclaim its crucial 28,000-mark, while the broader Nifty50 topped its key 8,700-mark riding on positive manufacturing data at home along with favourable global cues.
The 30-share index ended the day at 28,243, up 377.33 points, while broad-based 50-share index quoted 8,738, up 126.95 points at close.
Below are five factors that are fuelling the rally in the benchmark indices:
- Business conditions hold positive momentum: Market rallied buoyed by manufacturing PMI for September that came in above the 50-mark for the ninth straight month signalling expansion, and improving business conditions. However, the rate of expansion eased since August and was relatively modest at 52.1 in September as compared to 52.6 in August. A reading above 50 points to expansion while one below means contraction.
- RBI rate cut hopes: While concensus says Reserve Bank of India (RBI) will adopt a wait-and-watch approach on its policy review tomorrow, many believe it will take a dovish stance on future rate trajectory as consumer inflation fell to a five-month low in August and manufacturing also contracted slightly in September. "There is some optimism because of an expectation of a rate cut," Saurabh Jain, assistant vice president of research at SMC Global Securities told Reuters.
- Auto stocks boost index gains: Auto makers gained on the back of upbeat monthly sales in September. Maruti Suzuki rose as much as 4.43 per cent to a record high after posting a rise of 31 per cent in September vehicle sales. Mahindra and Mahindra and Eicher Motors rose over 3 percent each, while Tata Motors was up 2.08 per cent.
- Deutsche fears recede: Shares of Deutsche Bank recovered slightly on Friday on reports that the bank was negotiating a much smaller fine with the US Department of Justice, though the Wall Street Journal reported on Sunday that the talks were in flux. The DOJ fined Germany's largest bank $14 billion earlier in September for what it alleged were sales of toxic mortgage-backed securities.
- UK to trigger Brexit process by March 2017: British Prime Minister Theresa May said she will formally trigger the process of the UK's exit from the 28-nation EU by the end of March 2017, ending the speculation surrounding the timing of the important move. May confirmed the deadline for triggering Article 50 of the Lisbon Treaty, which sets in place a two-year process of withdrawal from the European Union or so-called Brexit, as the first quarter of next year.
Manufacturing growth moderates in September: PMI
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Manufacturing growth in India eased slightly amid a slower increase in new business orders while subdued inflationary pressure may prompt RBI to reduce key policy rate, a monthly survey said.
The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) - a gauge of manufacturing performance - fell to 52.1 in September from 52.6 in August, indicating that growth in the sector lost some momentum.
"The Indian manufacturing industry lost momentum in September as growth of new orders eased from August's 20-month high," said Pollyanna De Lima, Economist at IHS Markit that compiles the data and author of the report.
Despite the fall in manufacturing growth rate, business conditions improved for the ninth straight month as the index held above the crucial 50 threshold. However, the rate of expansion eased since August and was relatively modest. A reading above 50 points to expansion while one below means contraction.
"Output is still rising at a decent clip and the sector looks likely to have delivered a stronger contribution to GDP growth in Q2 of 2016/17, with the quarterly reading for the PMI output index up from 51.4 during April-June to 53.6," Lima added.
Meanwhile, foreign new orders for India-manufactured goods expanded markedly in September - and at the quickest rate in 14 months.
Greater workplace activity led companies to scale up their buying activity and hire additional workers in September, but only marginally.
On the prices front, the report said average purchase costs rose at a faster pace in September, but it was weak compared to its long-run trend.
"Although inflation rates edged higher, these remain weak by historical standards and indicate that we may still see RBI loosening monetary policy in 2016," Lima added.
The next policy review meet is scheduled to be held on Tuesday.
It will also be the first review under the new RBI Governor Urjit Patel, who assumed charge effective September 4 after end of his predecessor Raghuram Rajan's three-year tenure.
Manufacturing growth in India eased slightly amid a slower increase in new business orders while subdued inflationary pressure may prompt RBI to reduce key policy rate, a monthly survey said.
The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) - a gauge of manufacturing performance - fell to 52.1 in September from 52.6 in August, indicating that growth in the sector lost some momentum.
"The Indian manufacturing industry lost momentum in September as growth of new orders eased from August's 20-month high," said Pollyanna De Lima, Economist at IHS Markit that compiles the data and author of the report.
Despite the fall in manufacturing growth rate, business conditions improved for the ninth straight month as the index held above the crucial 50 threshold. However, the rate of expansion eased since August and was relatively modest. A reading above 50 points to expansion while one below means contraction.
"Output is still rising at a decent clip and the sector looks likely to have delivered a stronger contribution to GDP growth in Q2 of 2016/17, with the quarterly reading for the PMI output index up from 51.4 during April-June to 53.6," Lima added.
Meanwhile, foreign new orders for India-manufactured goods expanded markedly in September - and at the quickest rate in 14 months.
Greater workplace activity led companies to scale up their buying activity and hire additional workers in September, but only marginally.
On the prices front, the report said average purchase costs rose at a faster pace in September, but it was weak compared to its long-run trend.
"Although inflation rates edged higher, these remain weak by historical standards and indicate that we may still see RBI loosening monetary policy in 2016," Lima added.
The next policy review meet is scheduled to be held on Tuesday.
It will also be the first review under the new RBI Governor Urjit Patel, who assumed charge effective September 4 after end of his predecessor Raghuram Rajan's three-year tenure.
Will the monetary policy review herald a fresh take on inflation-interest dynamics?
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At the fourth bi-monthly monetary policy review for 2016/17 in Mumbai tomorrow (October 4), all eyes would be on the six-member monetary policy committee (MPC) that would for the first time decide the future course of interest rates in the economy. This is a clear departure from the earlier practice of RBI governor taking the final call. And hence the suspense.
The MPC is empowered to fix the repo rate or the policy rate, which is at 6.5 per cent from April this year, to contain inflation within a target of 4 per cent (+/-2 per cent). So, there is a big band of 2 per cent to 6 per cent. There is a view in the market that the three members (of repute) appointed by the government would push for a 25 basis points rate cut as the mandate of the new committee is to maintain price stability and keep in mind growth objectives. In the past two years, the new government's biggest concern was about growth with some ministers attacking former RBI governor Raghuram Rajan for not doing enough on easing the interest rates.
This is also Urjit Patel's first monetary policy review as a RBI governor, though as a deputy governor (in charge of monetary policy), Patel was part of all the deliberations for over three years. That indicates that he was in sync with Rajan's policy of taming inflation before rates could go down further. In fact, Patel authored the report on inflation targeting, which recommended the 4 per cent target with RBI accountability in case the target is not met for three quarters. How Governor Patel reacts remains to be seen.
Currently, the CPI or retail inflation is still not in the comfort zone of the RBI. At 5.05 per cent for August this year, the CPI is a tad above the 5 per cent level targeted by the RBI for 2017. In 2016, the CPI was below 5 per cent only once in March.
There are many who say inflation should be below 5 per cent on a sustainable basis. Going forward, the 7th pay commission hike would also fuel inflationary pressure. There are two new variables - bottoming out of commodity prices and possible rupee depreciation. The commodity prices have almost bottomed out and there are fears of prices moving up gradually, which would impact the inflation numbers. Similarly, the dollar deposit redemption is coming up, which would result in outflow of dollars and possible rupee depreciation against the US dollar. This event has the potential to ignite imported inflation through oil prices and other commodities.
Meanwhile, the wholesale price index (WPI), which was in the negative zone for a long time, has started its upward journey. The WPI generally shows up in the CPI with a lag effect. WPI ended at a two year high at 3.74 per cent for August.
While there are enough indications for a pause by the MPC this time around, but one should not ignore the new regime at RBI under Patel and also an MPC with half the members directly appointed by the government. There are already indications of a change in the thinking. Last week, Patel, who interacted with economists, downplayed the risk of inflation and instead talked about the growth.
At the fourth bi-monthly monetary policy review for 2016/17 in Mumbai tomorrow (October 4), all eyes would be on the six-member monetary policy committee (MPC) that would for the first time decide the future course of interest rates in the economy. This is a clear departure from the earlier practice of RBI governor taking the final call. And hence the suspense.
The MPC is empowered to fix the repo rate or the policy rate, which is at 6.5 per cent from April this year, to contain inflation within a target of 4 per cent (+/-2 per cent). So, there is a big band of 2 per cent to 6 per cent. There is a view in the market that the three members (of repute) appointed by the government would push for a 25 basis points rate cut as the mandate of the new committee is to maintain price stability and keep in mind growth objectives. In the past two years, the new government's biggest concern was about growth with some ministers attacking former RBI governor Raghuram Rajan for not doing enough on easing the interest rates.
This is also Urjit Patel's first monetary policy review as a RBI governor, though as a deputy governor (in charge of monetary policy), Patel was part of all the deliberations for over three years. That indicates that he was in sync with Rajan's policy of taming inflation before rates could go down further. In fact, Patel authored the report on inflation targeting, which recommended the 4 per cent target with RBI accountability in case the target is not met for three quarters. How Governor Patel reacts remains to be seen.
Currently, the CPI or retail inflation is still not in the comfort zone of the RBI. At 5.05 per cent for August this year, the CPI is a tad above the 5 per cent level targeted by the RBI for 2017. In 2016, the CPI was below 5 per cent only once in March.
There are many who say inflation should be below 5 per cent on a sustainable basis. Going forward, the 7th pay commission hike would also fuel inflationary pressure. There are two new variables - bottoming out of commodity prices and possible rupee depreciation. The commodity prices have almost bottomed out and there are fears of prices moving up gradually, which would impact the inflation numbers. Similarly, the dollar deposit redemption is coming up, which would result in outflow of dollars and possible rupee depreciation against the US dollar. This event has the potential to ignite imported inflation through oil prices and other commodities.
Meanwhile, the wholesale price index (WPI), which was in the negative zone for a long time, has started its upward journey. The WPI generally shows up in the CPI with a lag effect. WPI ended at a two year high at 3.74 per cent for August.
While there are enough indications for a pause by the MPC this time around, but one should not ignore the new regime at RBI under Patel and also an MPC with half the members directly appointed by the government. There are already indications of a change in the thinking. Last week, Patel, who interacted with economists, downplayed the risk of inflation and instead talked about the growth.
Group to probe Indians named in Panama Papers set up: Govt
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A Multi-Agency Group (MAG), comprising officials of CBDT, RBI, Financial Intelligence Unit and ED, has been set up to ensure "speedy and coordinated" probe against Indians whose names have figured in the Panama papers for allegedly holding bank accounts in foreign nations, government told the Supreme Court on Monday.
An undisclosed income of about Rs 8,186 crore has been brought under the tax ambit despite non-sharing of any information by the Swiss authorities, the Department of Economic Affairs told the apex court.
"However, despite best efforts, the Swiss competent authority has not shared any information (with India) on various grounds including Treaty limitations and their domestic legal barriers.
"The deponent (Centre) submits that the alternative method of assisting the tax payer to obtain the information and documents was pursued with the said bank which has led to obtaining of the requisite information/documents in a considerable number of cases...
"Tax demand of Rs 5,377 crore has been raised which includes demands of protective assessments," the affidavit filed by Manu J Vettickan, Deputy Director in the Ministry, said, as it reiterated the commitment of NDA government on unearthing blackmoney.
The Centre, which sought dismissal of the PIL seeking a court-monitored CBI probe into Panama paper leaks, said about Rs 1,282 crore has been levied in 159 cases pertaining to concealment of tax due to the goverment.
"So far 164 prosecution complaints have been filed in 75 cases. The apex court-appointed SIT on blackmoney has been kept updated on the progress in these investigations," the affidavit said.
The Finance Ministry, however, refused to respond to the allegations relating to an interim plea of advocate M L Sharma seeking a direction that the offshore portfolio investors, who invest in the Indian stock market through participatory-notes, should not be allowed to withdraw money till further orders.
It said that the issue related to market regulator SEBI, which was the competent authority in this regard.
Dealing with the issue of progress made so far in the probe into the Panama papers, the Centre said, "Till date, five reports have been submitted by the MAG to the government.
The SIT on blackmoney is being regularly updated on such issues."
Referring to the FEMA provisions on opening of foreign currency account (FCA) by Indians in offshore, the affidavit said no Indian "shall open or hold or maintain the FCA provided that FCA held or maintained before the commencement of these (FEMA) regulations by a person resident in India with special or general permission of the RBI, shall be deemed to be held or maintained under these regulations".
It, however, said the RBI may permit an Indian to open or hold or maintain a FCA if an application is made in this regard.
The Centre opposed the contention raised in the PIL that the re-appointment of U K Sinha as SEBI chief was illegal and hence be quashed.
"With regard to appointment of U K Sinha as SEBI Chairman, it may be noted that in terms of SEBI rules..., the Chairman and every whole-time member of SEBI shall be appointed by the central government on the recommendation of the search committee," it said, adding that the appointment was made in accordance with law and has been held valid by the apex court also.
A Multi-Agency Group (MAG), comprising officials of CBDT, RBI, Financial Intelligence Unit and ED, has been set up to ensure "speedy and coordinated" probe against Indians whose names have figured in the Panama papers for allegedly holding bank accounts in foreign nations, government told the Supreme Court on Monday.
An undisclosed income of about Rs 8,186 crore has been brought under the tax ambit despite non-sharing of any information by the Swiss authorities, the Department of Economic Affairs told the apex court.
"However, despite best efforts, the Swiss competent authority has not shared any information (with India) on various grounds including Treaty limitations and their domestic legal barriers.
"The deponent (Centre) submits that the alternative method of assisting the tax payer to obtain the information and documents was pursued with the said bank which has led to obtaining of the requisite information/documents in a considerable number of cases...
"Tax demand of Rs 5,377 crore has been raised which includes demands of protective assessments," the affidavit filed by Manu J Vettickan, Deputy Director in the Ministry, said, as it reiterated the commitment of NDA government on unearthing blackmoney.
The Centre, which sought dismissal of the PIL seeking a court-monitored CBI probe into Panama paper leaks, said about Rs 1,282 crore has been levied in 159 cases pertaining to concealment of tax due to the goverment.
"So far 164 prosecution complaints have been filed in 75 cases. The apex court-appointed SIT on blackmoney has been kept updated on the progress in these investigations," the affidavit said.
The Finance Ministry, however, refused to respond to the allegations relating to an interim plea of advocate M L Sharma seeking a direction that the offshore portfolio investors, who invest in the Indian stock market through participatory-notes, should not be allowed to withdraw money till further orders.
It said that the issue related to market regulator SEBI, which was the competent authority in this regard.
Dealing with the issue of progress made so far in the probe into the Panama papers, the Centre said, "Till date, five reports have been submitted by the MAG to the government.
The SIT on blackmoney is being regularly updated on such issues."
Referring to the FEMA provisions on opening of foreign currency account (FCA) by Indians in offshore, the affidavit said no Indian "shall open or hold or maintain the FCA provided that FCA held or maintained before the commencement of these (FEMA) regulations by a person resident in India with special or general permission of the RBI, shall be deemed to be held or maintained under these regulations".
It, however, said the RBI may permit an Indian to open or hold or maintain a FCA if an application is made in this regard.
The Centre opposed the contention raised in the PIL that the re-appointment of U K Sinha as SEBI chief was illegal and hence be quashed.
"With regard to appointment of U K Sinha as SEBI Chairman, it may be noted that in terms of SEBI rules..., the Chairman and every whole-time member of SEBI shall be appointed by the central government on the recommendation of the search committee," it said, adding that the appointment was made in accordance with law and has been held valid by the apex court also.
Rafale deal: Reliance, Dassault Aviation set up joint venture
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In a major deal for India's private defence industry, Anil Ambani-led Reliance Group and Rafale maker Dassault Aviation on Monday announced a joint venture (JV) that will be a "key player" in execution of offset contract worth about Rs 22,000 crore as part of the fighter jet deal.
The announcement of the JV, Dassault Reliance Aerospace, comes within days of India and France on September 23 signing an agreement for 36 Rafale fighter jets at a value of euro 7.87 billion, or about Rs 59,000 crore.
The agreement includes a 50 per cent offset obligation, the largest-ever offset contract in the history of India.
The main point of the offset agreement is 74 per cent of it has to be imported from India, which means direct business worth around Rs 22,000 crore.
The offset, spread over seven years, will be finalised soon.
There is also a technology-sharing component, which is being discussed with the Defence Research and Development Organisation (DRDO).
Other companies involved in the Rafale deal include French firms MBDA and Thales, besides Safran, which too will be part of the overall offset obligation.
The Dassault Reliance Aerospace joint venture will be a key player in the execution of offset obligations, a joint statement by the companies said.
The development has come as a boost to the Reliance Group, which entered the defence sector only in January 2015.
"This new joint venture called Dassault Reliance Aerospace will support Prime Minister Modi's Make in India and Skill India policies and develop major Indian programmes with high levels of technology transfer to benefit the entire aerospace sector," it added.
The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development projects under the IDDM programme (Indigenously Designed, Developed and Manufactured), a new initiative of Defence Minister Manohar Parrikar.
"The formation of this joint venture with Reliance Aerospace led by Anil Ambani's Reliance Group illustrates our strong commitment to establish ourselves in India and develop strategic industrial partnerships under the Make in India policy promoted by the Indian government," Eric Trappier, Dassault Aviation Chairman and CEO said.
"We are delighted to partner a world leader in aviation like Dassault Aviation. This is a transformational moment for the Indian aerospace sector and Reliance Infrastructure's subsidiary Reliance Aerospace," said Anil Ambani, Chairman of the Reliance Group.
In a major deal for India's private defence industry, Anil Ambani-led Reliance Group and Rafale maker Dassault Aviation on Monday announced a joint venture (JV) that will be a "key player" in execution of offset contract worth about Rs 22,000 crore as part of the fighter jet deal.
The announcement of the JV, Dassault Reliance Aerospace, comes within days of India and France on September 23 signing an agreement for 36 Rafale fighter jets at a value of euro 7.87 billion, or about Rs 59,000 crore.
The agreement includes a 50 per cent offset obligation, the largest-ever offset contract in the history of India.
The main point of the offset agreement is 74 per cent of it has to be imported from India, which means direct business worth around Rs 22,000 crore.
The offset, spread over seven years, will be finalised soon.
There is also a technology-sharing component, which is being discussed with the Defence Research and Development Organisation (DRDO).
Other companies involved in the Rafale deal include French firms MBDA and Thales, besides Safran, which too will be part of the overall offset obligation.
The Dassault Reliance Aerospace joint venture will be a key player in the execution of offset obligations, a joint statement by the companies said.
The development has come as a boost to the Reliance Group, which entered the defence sector only in January 2015.
"This new joint venture called Dassault Reliance Aerospace will support Prime Minister Modi's Make in India and Skill India policies and develop major Indian programmes with high levels of technology transfer to benefit the entire aerospace sector," it added.
The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development projects under the IDDM programme (Indigenously Designed, Developed and Manufactured), a new initiative of Defence Minister Manohar Parrikar.
"The formation of this joint venture with Reliance Aerospace led by Anil Ambani's Reliance Group illustrates our strong commitment to establish ourselves in India and develop strategic industrial partnerships under the Make in India policy promoted by the Indian government," Eric Trappier, Dassault Aviation Chairman and CEO said.
"We are delighted to partner a world leader in aviation like Dassault Aviation. This is a transformational moment for the Indian aerospace sector and Reliance Infrastructure's subsidiary Reliance Aerospace," said Anil Ambani, Chairman of the Reliance Group.
General Awareness
147th birth anniversary of Mahatma Gandhi – October 2 2016
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The International Day of Non-Violence is observed on October 2, the birthday of Mahatma Gandhi. This day is referred as Gandhi Jayanti in India.
About this day :
In January 2004, Iranian Nobel laureate Shirin Ebadi had taken a proposal for an International Day of Non-Violence from a Hindi teacher in Paris teaching international students to the World Social Forum in Mumbai.
- On 15 June 2007 the United Nations General Assembly voted to establish 2 October as the International Day of Non-Violence.
Gandhi Jayanthi Celebration :
The Prime Minister Narendra Modi inaugurated the Pravasi Bharatiya Kendra in New Delhi. He launched a booklet on Yoga Protocol for Diabetes control, and distributed prizes to winners of the ‘Know India’ Quiz at the exhibition on “Gandhi – Ek Pravasi.
- The President of India Pranab Mukherjee flagged-off a march for Swachh Bharat Abhiyan at Rashtrapati Bhavan in New Delhi as a symbol of the commitment of Rashtrapati Bhavan to the Swachh Bharat Mission.
Department of Posts releases two Commemorative Stamps on Gandhi Jayanti
Department of Posts organised a nation-wide competition inviting entries for designing the commemorative postage stamps of denominations of Rs 25 and Rs 5 and a miniature sheet.
- Winners : Ms. Binita Biswajeeta, Ms. Sanjula S. and Ms. Arushi Aggarwal
2nd anniversary of Swachh Bharat Mission :
Swachh Bharat Mission was launched throughout length and breadth of the country as a national movement on 2nd October , 2014.
On the occasion of second anniversary of Swachh Bharat Mission, one lakh villages have become Open Defecation Free
Gujarat, Andhra Pradesh first States to become Open Defecation Free in urban areas
The birthplace of Mahatma Gandhi Porbandar, Gujarat declared as ODF to commemorate the 147th birth anniversary of Mahatma Gandhi this October 2.
- Gujarat gave ODF status to each of its 180 cities and towns at a function in Porbandar attended by Union Minister of Drinking Water and Sanitation Narendra Singh Tomar and Gujarat Chief Minister Vijay Rupani.
- All 110 cities and towns in Andhra Pradesh were given the ODF tag by CM N Chandrababu Naidu at an event in Tirupati.
- India has created a sort of World Record for Construction of toilets or Solid and Liquid Waste Management.
Union Home Minister inaugurates several Swachh Bharat Mission programmes
The Union Home Minister Shri Rajnath Singh attended the ‘Swachhta Rally‘ and felicitated those who made contribution to the ‘Cleanliness Drive’. He also administered ‘Swachhta Shapath‘ (Cleanliness pledge)
- He also inaugurated Roll Call Shelters, Jan Aushadhi Kendra and Smart Class Rooms for NDMC area.
- By 2019, the dream of ‘Swachh Bharat, Swasth Bharat’ (Clean India, Healthy India) will be realised” said by Rajnath Singh.
Swachh Bharat short film awards 2016
Information and Broadcasting Minister M Venkaiah Naidu awarded Katyayan with a certificate and a cash prize of Rs. 10 lakh to Katyayan Shivpuri.
Winner List :
First : filmmaker Katyayan Shivpuri, from Maharashtra for ‘Murga’
The second prize “ Sudanshu Sharma, KVK Kumar and Akshay Danavale for their films Nahna Doot, Chembuku Moodindi (The Dying Vessel) and Sarkarmi Rati Wadho!,respectively.
Gangtok awarded ‘Cleanest Tourist Destination’
Union Ministry of Tourism has conferred the ‘Cleanest Tourist Destination’ on Sikkim capital, Gangtok and Clean Cities in million plus population category award to two citiesChandigarh and Mysore
- Prime Minister Narendra Modi handed over the award to Commissioner, GMC in Delhi on September 30.
- The Sikkim delegation participated in a workshop organised by the Urban Development and Ministry of Drinking Water and Sanitation for implementing the flagship programme, Swachh Bharat Mission (Urban and Gramin) at Vigyan Bhawanin New Delhi.
Other observations :
- In Indian many places , people also paid tributes to mark the birth anniversary of former Prime Minister Lal Bahadur Shashtri.
- Former Chief Minister Of Tamil Nadu Mr. K. Kamaraj’s Death Anniversary also observed on October 2, 2016.He was populalry acknowledged as Kingmaker .
The International Day of Non-Violence is observed on October 2, the birthday of Mahatma Gandhi. This day is referred as Gandhi Jayanti in India.
About this day :
In January 2004, Iranian Nobel laureate Shirin Ebadi had taken a proposal for an International Day of Non-Violence from a Hindi teacher in Paris teaching international students to the World Social Forum in Mumbai.
- On 15 June 2007 the United Nations General Assembly voted to establish 2 October as the International Day of Non-Violence.
Gandhi Jayanthi Celebration :
The Prime Minister Narendra Modi inaugurated the Pravasi Bharatiya Kendra in New Delhi. He launched a booklet on Yoga Protocol for Diabetes control, and distributed prizes to winners of the ‘Know India’ Quiz at the exhibition on “Gandhi – Ek Pravasi.
- The President of India Pranab Mukherjee flagged-off a march for Swachh Bharat Abhiyan at Rashtrapati Bhavan in New Delhi as a symbol of the commitment of Rashtrapati Bhavan to the Swachh Bharat Mission.
Department of Posts releases two Commemorative Stamps on Gandhi Jayanti
Department of Posts organised a nation-wide competition inviting entries for designing the commemorative postage stamps of denominations of Rs 25 and Rs 5 and a miniature sheet.
- Winners : Ms. Binita Biswajeeta, Ms. Sanjula S. and Ms. Arushi Aggarwal
2nd anniversary of Swachh Bharat Mission :
Swachh Bharat Mission was launched throughout length and breadth of the country as a national movement on 2nd October , 2014.
On the occasion of second anniversary of Swachh Bharat Mission, one lakh villages have become Open Defecation Free
Gujarat, Andhra Pradesh first States to become Open Defecation Free in urban areas
The birthplace of Mahatma Gandhi Porbandar, Gujarat declared as ODF to commemorate the 147th birth anniversary of Mahatma Gandhi this October 2.
- Gujarat gave ODF status to each of its 180 cities and towns at a function in Porbandar attended by Union Minister of Drinking Water and Sanitation Narendra Singh Tomar and Gujarat Chief Minister Vijay Rupani.
- All 110 cities and towns in Andhra Pradesh were given the ODF tag by CM N Chandrababu Naidu at an event in Tirupati.
- India has created a sort of World Record for Construction of toilets or Solid and Liquid Waste Management.
Union Home Minister inaugurates several Swachh Bharat Mission programmes
The Union Home Minister Shri Rajnath Singh attended the ‘Swachhta Rally‘ and felicitated those who made contribution to the ‘Cleanliness Drive’. He also administered ‘Swachhta Shapath‘ (Cleanliness pledge)
- He also inaugurated Roll Call Shelters, Jan Aushadhi Kendra and Smart Class Rooms for NDMC area.
- By 2019, the dream of ‘Swachh Bharat, Swasth Bharat’ (Clean India, Healthy India) will be realised” said by Rajnath Singh.
Swachh Bharat short film awards 2016
Information and Broadcasting Minister M Venkaiah Naidu awarded Katyayan with a certificate and a cash prize of Rs. 10 lakh to Katyayan Shivpuri.
Winner List :
First : filmmaker Katyayan Shivpuri, from Maharashtra for ‘Murga’
The second prize “ Sudanshu Sharma, KVK Kumar and Akshay Danavale for their films Nahna Doot, Chembuku Moodindi (The Dying Vessel) and Sarkarmi Rati Wadho!,respectively.
Gangtok awarded ‘Cleanest Tourist Destination’
Union Ministry of Tourism has conferred the ‘Cleanest Tourist Destination’ on Sikkim capital, Gangtok and Clean Cities in million plus population category award to two citiesChandigarh and Mysore
- Prime Minister Narendra Modi handed over the award to Commissioner, GMC in Delhi on September 30.
- The Sikkim delegation participated in a workshop organised by the Urban Development and Ministry of Drinking Water and Sanitation for implementing the flagship programme, Swachh Bharat Mission (Urban and Gramin) at Vigyan Bhawanin New Delhi.
Other observations :
- In Indian many places , people also paid tributes to mark the birth anniversary of former Prime Minister Lal Bahadur Shashtri.
- Former Chief Minister Of Tamil Nadu Mr. K. Kamaraj’s Death Anniversary also observed on October 2, 2016.He was populalry acknowledged as Kingmaker .
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