General Affairs
Anti-fidayeen drills for soldiers before deployment in counter insurgency operations
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Post Pathankot terrorist attack, the ministry of defence has taken several steps for the security of defence installations. Defence personnel have been sensitized on the prevailing security situation and necessity of maintaining high level of alertness. The response mechanism have been reviewed and streamlined.
Measures like strengthening security fences, improvement in security lighting, installation of intrusion alarm system with sensors and surveillance are other steps taken to counter such attacks. Further, intelligence infrastructure has been strengthened and re-organised for real time collection and sharing of intelligence.
Upgradation of capabilities and equipment is a continuous process. Soldiers are adequately trained and sufficiently equipped to counter such attacks. Pre-induction mission specific training including counter fidayeen drills is imparted to soldiers before deployment in counter insurgency/counter terrorism operations. Further response mechanism to counter such attacks is well laid down.
To meet the various internal security challenges, the central government and the state governments are focusing on improving border management, strengthening intelligence collection and sharing, raising special forces, training and equipping the security forces with modern weapons and implementing area development programmes.
Ministry of defence had constituted a committee to review the security arrangement of various defence installations in the country. Based on the recommendations of this committee, broad guidelines for security of defence installations has been issued to service headquarters.
Post Pathankot terrorist attack, the ministry of defence has taken several steps for the security of defence installations. Defence personnel have been sensitized on the prevailing security situation and necessity of maintaining high level of alertness. The response mechanism have been reviewed and streamlined.
Measures like strengthening security fences, improvement in security lighting, installation of intrusion alarm system with sensors and surveillance are other steps taken to counter such attacks. Further, intelligence infrastructure has been strengthened and re-organised for real time collection and sharing of intelligence.
Upgradation of capabilities and equipment is a continuous process. Soldiers are adequately trained and sufficiently equipped to counter such attacks. Pre-induction mission specific training including counter fidayeen drills is imparted to soldiers before deployment in counter insurgency/counter terrorism operations. Further response mechanism to counter such attacks is well laid down.
To meet the various internal security challenges, the central government and the state governments are focusing on improving border management, strengthening intelligence collection and sharing, raising special forces, training and equipping the security forces with modern weapons and implementing area development programmes.
Ministry of defence had constituted a committee to review the security arrangement of various defence installations in the country. Based on the recommendations of this committee, broad guidelines for security of defence installations has been issued to service headquarters.
Chargesheet filed against MP Babul Supriyo for insulting fellow Trinamool woman Mohua Mitra
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The Kolkata Police has filed a charge sheet against Union minister Babul Supriyo at a city court here on the basis of a complaint filed by a Trinamool Congress MLA.
TMC MLA Mohua Moitra had on January 4 lodged a complaint against Supriyo alleging that the BJP lawmaker had used words intended to "insult her modesty" during a live show on a TV channel.
On the basis of her complaint, a case has been registered against him for allegedly insulting the modesty of a woman.
"We filed a charge sheet against Supriyo at Alipore court here yesterday. He had been summoned thrice but he did not turn up," a senior police officer said today.
The police also submitted footage of the TV programme in which the remarks were allegedly made, he said.
Supriyo was not available for comments.
Moitra had lodged the complaint at the Alipore police station, alleging that Supriyo had tried to make fun of her name by linking it to Mahua, a local drink, during a live TV show on January 3.
The Kolkata Police has filed a charge sheet against Union minister Babul Supriyo at a city court here on the basis of a complaint filed by a Trinamool Congress MLA.
TMC MLA Mohua Moitra had on January 4 lodged a complaint against Supriyo alleging that the BJP lawmaker had used words intended to "insult her modesty" during a live show on a TV channel.
On the basis of her complaint, a case has been registered against him for allegedly insulting the modesty of a woman.
"We filed a charge sheet against Supriyo at Alipore court here yesterday. He had been summoned thrice but he did not turn up," a senior police officer said today.
The police also submitted footage of the TV programme in which the remarks were allegedly made, he said.
Supriyo was not available for comments.
Moitra had lodged the complaint at the Alipore police station, alleging that Supriyo had tried to make fun of her name by linking it to Mahua, a local drink, during a live TV show on January 3.
Supreme Court issues bailable warrant against Calcutta HC judge CS Karnan for contempt
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The Supreme Court today issued a bailable warrant against Calcutta High Court judge CS Karnan for showing contempt to the apex court by not appearing before it as ordered.
A seven-judge constitution bench headed by Chief Justice Jagdish Singh Khehar also asked Justice Karnan to furnish a personal bond of Rs 10,000 and appear before it on March 31.
The Supreme Court has directed the West Bengal Director General of Police to personally execute the warrant against Justice Karnan to ensure his appearance before it on March 31.
The order came as Attorney General Mukul Rohatgi told the court that Justice Karnan has refused to appear before the court in contempt case and under the Supreme Court Rules, if a person does not appear, a bailable warrant be issued against him.
On February 8, the Supreme Court had, in an unprecedented move, issued the contempt notice to a sitting High Court judge and had asked Justice Karnan to appear on February 13, which he didn't.
The issuance of the contempt notice to Justice Karnan was significant as it was for the first time in the history of the Supreme Court that it had invoked powers to initiate contempt proceedings against a sitting judge of a High Court.
WHAT IS JUSTICE KARNAN ACCUSED OF
Justice Karnan is accused of writing disparaging letters to the Prime Minister, Law Minister, Supreme Court Registrar about sitting and retired top court and High Court judges. In case of some judges, Justice Karnan had even levelled the allegation of corruption and caste discrimination.
Justice Karnan had also stayed the top court collegium's decision transferring him from Madras High Court to Calcutta High Court.
At the outset of the hearing, Attorney General Mukul Rohatgi has told the apex court that the nature of various communications by Justice Karnan were "very very scandalous" and "embarrassing" and the "time has come for this court to act". He urged the court to act so that a clear message should go to the citizens that the top court will not hesitate in taking action against its own judge in the High Court.
TOP COURT EMPOWERED TO PUNISH HIGH COURT JUDGES: AG
AG said that the top court was empowered under Article 129 of the Constitution read with Article 142(2) to punish the High Court judges and the members of subordinate judiciary.
However, Chief Justice Khehar said that since it was happening for the first time. "We must be as careful as we can be. We have to see what we can so, what we can't do... it is a vital issue. We have to see cause and effect," said Chief Justice Khehar.
"This is presumptuous. You are presuming," the bench said. "We are receiving letters from him for a long time. Suppose if he denies writing letters, it will change the situation. We will have to hear him and we have to hear every one," the bench added.
JUSTICE KARNAN's VERSION
Meanwhile, Justice Karnan has described the verdict as an attempt to ruin his life, adding that the Supreme Court is not supreme.
Claiming to be a Calcutta High Court judge, Keenan has issued an order to the CBI director to conduct an inquiry against the ruling and all the seven judges.
He has also sent a letter to the President requesting that the bailable warrant against him be recalled.
A suo moto directive has been issued to P.S of the PM, cabinet secretary, Secretary General of the Lok Sabha and Rajya Sabha, Registrar SC of India and the CBI director.
The Supreme Court today issued a bailable warrant against Calcutta High Court judge CS Karnan for showing contempt to the apex court by not appearing before it as ordered.
A seven-judge constitution bench headed by Chief Justice Jagdish Singh Khehar also asked Justice Karnan to furnish a personal bond of Rs 10,000 and appear before it on March 31.
The Supreme Court has directed the West Bengal Director General of Police to personally execute the warrant against Justice Karnan to ensure his appearance before it on March 31.
The order came as Attorney General Mukul Rohatgi told the court that Justice Karnan has refused to appear before the court in contempt case and under the Supreme Court Rules, if a person does not appear, a bailable warrant be issued against him.
On February 8, the Supreme Court had, in an unprecedented move, issued the contempt notice to a sitting High Court judge and had asked Justice Karnan to appear on February 13, which he didn't.
The issuance of the contempt notice to Justice Karnan was significant as it was for the first time in the history of the Supreme Court that it had invoked powers to initiate contempt proceedings against a sitting judge of a High Court.
WHAT IS JUSTICE KARNAN ACCUSED OF
Justice Karnan is accused of writing disparaging letters to the Prime Minister, Law Minister, Supreme Court Registrar about sitting and retired top court and High Court judges. In case of some judges, Justice Karnan had even levelled the allegation of corruption and caste discrimination.
Justice Karnan had also stayed the top court collegium's decision transferring him from Madras High Court to Calcutta High Court.
At the outset of the hearing, Attorney General Mukul Rohatgi has told the apex court that the nature of various communications by Justice Karnan were "very very scandalous" and "embarrassing" and the "time has come for this court to act". He urged the court to act so that a clear message should go to the citizens that the top court will not hesitate in taking action against its own judge in the High Court.
TOP COURT EMPOWERED TO PUNISH HIGH COURT JUDGES: AG
AG said that the top court was empowered under Article 129 of the Constitution read with Article 142(2) to punish the High Court judges and the members of subordinate judiciary.
However, Chief Justice Khehar said that since it was happening for the first time. "We must be as careful as we can be. We have to see what we can so, what we can't do... it is a vital issue. We have to see cause and effect," said Chief Justice Khehar.
"This is presumptuous. You are presuming," the bench said. "We are receiving letters from him for a long time. Suppose if he denies writing letters, it will change the situation. We will have to hear him and we have to hear every one," the bench added.
JUSTICE KARNAN's VERSION
Meanwhile, Justice Karnan has described the verdict as an attempt to ruin his life, adding that the Supreme Court is not supreme.
Claiming to be a Calcutta High Court judge, Keenan has issued an order to the CBI director to conduct an inquiry against the ruling and all the seven judges.
He has also sent a letter to the President requesting that the bailable warrant against him be recalled.
A suo moto directive has been issued to P.S of the PM, cabinet secretary, Secretary General of the Lok Sabha and Rajya Sabha, Registrar SC of India and the CBI director.
Reliance Jio, PayTm apologise for using PM Narendra Modi's picture in ads without permission
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The government today said Reliance Jio and PayTm have tendered their apologies for using Prime Minister Narendra Modi's picture in their advertisements without its permission.
Last month, the government had issued notices to the two companies, under the Emblems and Names (Prevention of Improper Use) Act of 1950, which bars use of Prime Minister's name and picture for commercial use, asking them whether they had taken prior permission to use Modi's photographs on their advertisements.
"Clarifications were sought by the Department of Consumer Affairs from Paytm and Reliance Jio wherein they have apologised for their inadvertent mistake," Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha.
Responding to a query whether there is any mechanism to approve use of Prime Minister's photo by private firms or if the government plans to introduce one, the minister said a committee is in place to examine such proposals.
The Section 3 of the Act provides that no person shall use or continue to use any name or emblem for the purpose of any trade, business, calling or profession without the previous permission of the central government.
The law provides that "any person who contravenes the provisions of Section 3 shall be punishable with fine, which may exceed to Rs 500".
In September last year, Mukesh Ambani-promoted Reliance Jio Infocomm had used Modi's picture in full-page advertisements, which triggered a heated political debate and resulted in a number of PILs in the courts.
Two months later on November 9, the morning after Modi announced demonetisation on TV, PayTm released full-page ads in newspapers welcoming the decision to ban Rs 500 and Rs 1000 bank notes and the push towards digital economy.
The government today said Reliance Jio and PayTm have tendered their apologies for using Prime Minister Narendra Modi's picture in their advertisements without its permission.
Last month, the government had issued notices to the two companies, under the Emblems and Names (Prevention of Improper Use) Act of 1950, which bars use of Prime Minister's name and picture for commercial use, asking them whether they had taken prior permission to use Modi's photographs on their advertisements.
"Clarifications were sought by the Department of Consumer Affairs from Paytm and Reliance Jio wherein they have apologised for their inadvertent mistake," Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha.
Responding to a query whether there is any mechanism to approve use of Prime Minister's photo by private firms or if the government plans to introduce one, the minister said a committee is in place to examine such proposals.
The Section 3 of the Act provides that no person shall use or continue to use any name or emblem for the purpose of any trade, business, calling or profession without the previous permission of the central government.
The law provides that "any person who contravenes the provisions of Section 3 shall be punishable with fine, which may exceed to Rs 500".
In September last year, Mukesh Ambani-promoted Reliance Jio Infocomm had used Modi's picture in full-page advertisements, which triggered a heated political debate and resulted in a number of PILs in the courts.
Two months later on November 9, the morning after Modi announced demonetisation on TV, PayTm released full-page ads in newspapers welcoming the decision to ban Rs 500 and Rs 1000 bank notes and the push towards digital economy.
Sri Lankan Navy releases 53 Indian fishermen as goodwill gesture
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Days after the killing of an Indian fisherman allegedly by the Sri Lankan Navy, the country today released 53 fishermen.
"53 fishermen have been released from Jaffna jail while 32 others are still in custody in Vuvuniya jail," Fishery Ministry officials said.
Sri Lanka had earlier informed the Indian High Commission in Colombo that it will release all 85 Indian fishermen in their custody, External Affairs Ministry Spokesperson Gopal Baglay said.
Sri Lanka and India on Wednesday agreed to release fishermen held in each other's custody after a high-level discussion between the two sides in Colombo in a bid to defuse the tension following the killing of an Indian fisherman.
A 22-year-old fisherman from Tamil Nadu was killed and another injured on March 6 allegedly by the Sri Lankan Navy.
Days after the killing of an Indian fisherman allegedly by the Sri Lankan Navy, the country today released 53 fishermen.
"53 fishermen have been released from Jaffna jail while 32 others are still in custody in Vuvuniya jail," Fishery Ministry officials said.
Sri Lanka had earlier informed the Indian High Commission in Colombo that it will release all 85 Indian fishermen in their custody, External Affairs Ministry Spokesperson Gopal Baglay said.
Sri Lanka and India on Wednesday agreed to release fishermen held in each other's custody after a high-level discussion between the two sides in Colombo in a bid to defuse the tension following the killing of an Indian fisherman.
A 22-year-old fisherman from Tamil Nadu was killed and another injured on March 6 allegedly by the Sri Lankan Navy.
Business Affairs
Maruti factory violence case: 31 convicted, 117 acquitted by Haryana Court; here's what happened on July 18, 2012
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A Haryana district court on Friday convicted 31 people and acquitted 117 others in the 2012 Maruti Suzuki factory violence case.
Additional District and Sessions Judge of Gurugram District Court gave the verdict.
The court will announce the quantum of punishment for the convicted workers later in the afternoon.
On July 18, 2012, violent clashes took place between the workers and management during which Awanish Kumar Dev, HR Manager at the company's Manesar plant was charred to death and several other executives were injured.
Around 148 workers were arrested and charged with the murder of Dev. They also faced charges of murder, attempt to murder, rioting, unlawful assembly, assault, and trespass among other sections of the penal code.
After the clash, around 546 workers were laid off. The case was in court for the last five years.
What happened in Manesar in 2012 and other related facts:
- July 18, 2012, was a dark day in the Maruti's otherwise proud history of three decades. Awanish Kumar Dev, General Manager of Human Resources was killed by the same workers he used to look after, and command and cajole, every day at the Manesar factory. His charred body was discovered late in the night.
- At least 100 other managers were injured: broken arms and bleeding heads were the most common injuries. Some hurt themselves as they jumped off the first floor to avoid rampaging workers, who took whatever they could find - tools lying about in the factory, parts of the cars they used to put together, hinges pulled off doors - and did things they had never seemed capable of doing.
- The Manesar plant was locked out for almost a month. Maruti's share of the passenger vehicles market plunged to nearly 38 per cent, a far cry from the vertigo-inducing 55.5 per cent in the year 2000. Net profit after tax fell 5.4 per cent in the July-September quarter of 2012.
- At the heart of Maruti's Manesar unrest in 2012 were contract labourers who were new to the company and their age profile young. They made over 50 per cent of the workforce as per estimates. The company eventually did away with such workers.
- India has plenty of experience of militant labour which hit industrial production badly during the 1960s, 1970s and 1980s. In the auto sector, militant trade unionism in West Bengal, encouraged by the ruling Left Front government, forced the closure of Hindustan Motors, makers of the iconic Ambassador brand. Also, Faridabad, once a flourishing industrial cluster, famous for its units making automotive parts, was destroyed by labour wage disputes.
A Haryana district court on Friday convicted 31 people and acquitted 117 others in the 2012 Maruti Suzuki factory violence case.
Additional District and Sessions Judge of Gurugram District Court gave the verdict.
The court will announce the quantum of punishment for the convicted workers later in the afternoon.
On July 18, 2012, violent clashes took place between the workers and management during which Awanish Kumar Dev, HR Manager at the company's Manesar plant was charred to death and several other executives were injured.
Around 148 workers were arrested and charged with the murder of Dev. They also faced charges of murder, attempt to murder, rioting, unlawful assembly, assault, and trespass among other sections of the penal code.
After the clash, around 546 workers were laid off. The case was in court for the last five years.
What happened in Manesar in 2012 and other related facts:
- July 18, 2012, was a dark day in the Maruti's otherwise proud history of three decades. Awanish Kumar Dev, General Manager of Human Resources was killed by the same workers he used to look after, and command and cajole, every day at the Manesar factory. His charred body was discovered late in the night.
- At least 100 other managers were injured: broken arms and bleeding heads were the most common injuries. Some hurt themselves as they jumped off the first floor to avoid rampaging workers, who took whatever they could find - tools lying about in the factory, parts of the cars they used to put together, hinges pulled off doors - and did things they had never seemed capable of doing.
- The Manesar plant was locked out for almost a month. Maruti's share of the passenger vehicles market plunged to nearly 38 per cent, a far cry from the vertigo-inducing 55.5 per cent in the year 2000. Net profit after tax fell 5.4 per cent in the July-September quarter of 2012.
- At the heart of Maruti's Manesar unrest in 2012 were contract labourers who were new to the company and their age profile young. They made over 50 per cent of the workforce as per estimates. The company eventually did away with such workers.
- India has plenty of experience of militant labour which hit industrial production badly during the 1960s, 1970s and 1980s. In the auto sector, militant trade unionism in West Bengal, encouraged by the ruling Left Front government, forced the closure of Hindustan Motors, makers of the iconic Ambassador brand. Also, Faridabad, once a flourishing industrial cluster, famous for its units making automotive parts, was destroyed by labour wage disputes.
India's January industrial output grows 2.7% as demonetisation impacts demand
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India's industrial output rose 2.7 per cent in January from a year earlier, government data showed on Friday.
The industrial output's slower growth now keeps strong hopes alive for a RBI rate cut in coming months. During April-January, the IIP was up just 0.6% as against 2.7% a year ago.
According to the government data, manufacturing output grew 2.3 per cent in December, electricity was up 3.9 per cent and mining was 5.3 per cent.
While, the capital goods output was up 10.7 per cent as against 21.6 per cent fall in the same month last year. The Consumer goods output was lowered to 1 per cent with durables growing 2.9 per cent and non-durables falling 3.2 per cent.
Earlier on February 28, the CSO retained the growth projection for the current fiscal at 7.1 per cent.
Modi's decision last November to outlaw old 500 rupee and 1,000 rupee banknotes was widely expected to exact a heavy toll on an economy where most people are paid in cash and buy what they need with cash.
In its February monetary policy review, the Reserve Bank of India (RBI) kept its repo rate unchanged at 6.25 per cent against a widely-anticipated cut of 25 basis points.
The Central Bank expected the inflation to firm up due to the quick pace of remonetisation.
India's industrial output rose 2.7 per cent in January from a year earlier, government data showed on Friday.
The industrial output's slower growth now keeps strong hopes alive for a RBI rate cut in coming months. During April-January, the IIP was up just 0.6% as against 2.7% a year ago.
According to the government data, manufacturing output grew 2.3 per cent in December, electricity was up 3.9 per cent and mining was 5.3 per cent.
While, the capital goods output was up 10.7 per cent as against 21.6 per cent fall in the same month last year. The Consumer goods output was lowered to 1 per cent with durables growing 2.9 per cent and non-durables falling 3.2 per cent.
Earlier on February 28, the CSO retained the growth projection for the current fiscal at 7.1 per cent.
Modi's decision last November to outlaw old 500 rupee and 1,000 rupee banknotes was widely expected to exact a heavy toll on an economy where most people are paid in cash and buy what they need with cash.
In its February monetary policy review, the Reserve Bank of India (RBI) kept its repo rate unchanged at 6.25 per cent against a widely-anticipated cut of 25 basis points.
The Central Bank expected the inflation to firm up due to the quick pace of remonetisation.
Avenue Supermarts IPO subscribed 104 times on last day
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The initial public offer of Avenue Supermarts, the operator of retail chain D-Mart, saw robust investor demand and was oversubscribed 103.72 times till late afternoon trade on the last day of the offer on Friday.
The IPO, the biggest since PNB Housing Finance's Rs 3,000 crore offer in October last year, received bids for 460.22 crore shares against the total issue size of 4.43 crore shares, data available with the NSE till 1545 hrs showed.
Avenue Supermarts on Tuesday raised nearly Rs 561 crore by allotting shares to anchor investors.
The price band for the IPO has been set at Rs 295-299. Avenue Supermarts plans to raise Rs 1,870 crore through the IPO and the proceeds would be utilised for various purposes, including loan repayment.
Nine merchant bankers-Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, JM Financial Institutional Securities, Inga Capital, SBI Capital Markets and Motilal Oswal Investment Advisors-are managing the offer.
The initial public offer of Avenue Supermarts, the operator of retail chain D-Mart, saw robust investor demand and was oversubscribed 103.72 times till late afternoon trade on the last day of the offer on Friday.
The IPO, the biggest since PNB Housing Finance's Rs 3,000 crore offer in October last year, received bids for 460.22 crore shares against the total issue size of 4.43 crore shares, data available with the NSE till 1545 hrs showed.
Avenue Supermarts on Tuesday raised nearly Rs 561 crore by allotting shares to anchor investors.
The price band for the IPO has been set at Rs 295-299. Avenue Supermarts plans to raise Rs 1,870 crore through the IPO and the proceeds would be utilised for various purposes, including loan repayment.
Nine merchant bankers-Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, JM Financial Institutional Securities, Inga Capital, SBI Capital Markets and Motilal Oswal Investment Advisors-are managing the offer.
Siam predicts 3-million car to be sold in the current fiscal
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Indian car market may finally cross the magical 3-million sales mark, as demand has revived post demonetisation and customers interest in new models is reviving industry fortunes, Society of Indian Automobile Manufacturers' (Siam), apex body of vehicle-makers has said.
The passenger car sales had hit the 2.96 million sales and missed the target by a whisker in calendar year 2016, but the recovery of past two months is likely to bring back the charm, Vishnu Mathur director general of Siam told Business Today.
Domestic passenger vehicle sales rose 9.01per cent to 2,55,359 units in February from 2,34,244 units in the same month last year.
"The growth is in-line with our estimates and 3-million sales are achievable in the fiscal. Helped by 14.4 per cent growth in January when 2,65,000 lakh units were sold, we can surely breach the 3-million annual sales mark in the fiscal," Mr Mathur said.
New models like the Maruti Baleno RS, Kwid Climber and Honda City 2017 have been received well in the market while, fresh launches of Honda's compact SUV WR-V and Tata Tigor will keep the momentum going.
The April-February passenger cars growth stood at 9.16 per cent, keeping alive the chances of double digit growth for FY17, with a total of 2,76,4206 units sold.
Siam data showed the recovery is largely led by the higher demand for sports utility vehicle of SUV, which grew 31 per cent to 6,84,306 units till February. Car sales grew a meager 3.44 per cent to 19,12,931 units.
February also remained robust for other segments. Sales of commercial vehicles were up 7.34 per cent to 66,939 units in February, SIAM said
Two wheeler sales were flat and saw sales of 8,32,697 motorcycle units as against 8,59,582 units a year earlier, a decline of 3.13 per cent; however, scooter sales went up in the period (4,52,295 units) by 3.70 per cent, and this pulled up the segment. Total two-wheeler sales in February declined marginally to 13,62,045 units as compared with 13,62,177 units in the year-ago month.
Cumulative vehicle sales across categories registered a marginal increase to 17,19,699 units from 17,03,736 units in February 2016, it added.
Indian car market may finally cross the magical 3-million sales mark, as demand has revived post demonetisation and customers interest in new models is reviving industry fortunes, Society of Indian Automobile Manufacturers' (Siam), apex body of vehicle-makers has said.
The passenger car sales had hit the 2.96 million sales and missed the target by a whisker in calendar year 2016, but the recovery of past two months is likely to bring back the charm, Vishnu Mathur director general of Siam told Business Today.
Domestic passenger vehicle sales rose 9.01per cent to 2,55,359 units in February from 2,34,244 units in the same month last year.
"The growth is in-line with our estimates and 3-million sales are achievable in the fiscal. Helped by 14.4 per cent growth in January when 2,65,000 lakh units were sold, we can surely breach the 3-million annual sales mark in the fiscal," Mr Mathur said.
New models like the Maruti Baleno RS, Kwid Climber and Honda City 2017 have been received well in the market while, fresh launches of Honda's compact SUV WR-V and Tata Tigor will keep the momentum going.
The April-February passenger cars growth stood at 9.16 per cent, keeping alive the chances of double digit growth for FY17, with a total of 2,76,4206 units sold.
Siam data showed the recovery is largely led by the higher demand for sports utility vehicle of SUV, which grew 31 per cent to 6,84,306 units till February. Car sales grew a meager 3.44 per cent to 19,12,931 units.
February also remained robust for other segments. Sales of commercial vehicles were up 7.34 per cent to 66,939 units in February, SIAM said
Two wheeler sales were flat and saw sales of 8,32,697 motorcycle units as against 8,59,582 units a year earlier, a decline of 3.13 per cent; however, scooter sales went up in the period (4,52,295 units) by 3.70 per cent, and this pulled up the segment. Total two-wheeler sales in February declined marginally to 13,62,045 units as compared with 13,62,177 units in the year-ago month.
Cumulative vehicle sales across categories registered a marginal increase to 17,19,699 units from 17,03,736 units in February 2016, it added.
Gold slips to Rs 108; suffers worst fall since October
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Gold prices were trading lower by Rs 108 to Rs 28,338 per 10 grams in futures trade on Friday as participants cut down their holdings amid a weak global cues.
The precious metal is seen sliding toward $1,200 an ounce, longest losing streak since October, as positive US economic figures reinforce expectations that yields on other investments will rise this year.
At Multi Commodity Exchange, gold for delivery in April was trading lower by Rs 108, at Rs 28,338 per 10 grams, in a business turnover of 516 lots.
Also, the metal for June delivery shed Rs 96, to Rs 28,410 per 10 grams in 47 lots.
Analysts say that a weakening trend in the overseas markets on growing hopes of a rate hike by the US Federal Reserve next week is diminishing demand for the precious metals as a safe haven and have weighed on gold futures here.
Profit-booking at the prevailing levels also contributed in the fall in the precious metal prices, they added.
A better-than-expected US private jobs data this week also boosted the dollar, which makes gold costlier for those with other currencies.
Globally, gold fell 0.34 per cent, to USD 1,196.70 an ounce in Singapore.
Gold prices were trading lower by Rs 108 to Rs 28,338 per 10 grams in futures trade on Friday as participants cut down their holdings amid a weak global cues.
The precious metal is seen sliding toward $1,200 an ounce, longest losing streak since October, as positive US economic figures reinforce expectations that yields on other investments will rise this year.
At Multi Commodity Exchange, gold for delivery in April was trading lower by Rs 108, at Rs 28,338 per 10 grams, in a business turnover of 516 lots.
Also, the metal for June delivery shed Rs 96, to Rs 28,410 per 10 grams in 47 lots.
Analysts say that a weakening trend in the overseas markets on growing hopes of a rate hike by the US Federal Reserve next week is diminishing demand for the precious metals as a safe haven and have weighed on gold futures here.
Profit-booking at the prevailing levels also contributed in the fall in the precious metal prices, they added.
A better-than-expected US private jobs data this week also boosted the dollar, which makes gold costlier for those with other currencies.
Globally, gold fell 0.34 per cent, to USD 1,196.70 an ounce in Singapore.
General Awareness
India Has Highest Bribery Rate Among 16 Asia-Pacific Nations: Transparency International Survey
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According to the Global Corruption Barometer for the Asia Pacific Region released by Transparency International on March 7, in Berlin for 16 Asia Pacific countries, India tops the list for being the most corrupt nation.
- The Transparency International (TI), an anti-corruption global civil society organisation, surveyed 21,861 people in 16 countries across the Asia Pacific region between July 2015 and January 2017 about their perceptions and experiences of corruption to present the report.
- According to the survey, about 69 percent of the population in India paid bribe to get their work done.
- India was followed by Vietnam (65%), Thailand (41%), Cambodia, Pakistan and Myanmar, each with 40%.
- Besides, China (26%) was one of the least corrupt nations and it was the lowest in Japan (0.2%).
Highlights of the Report
The report said that nearly 7 in 10 Indians paid bribe to access public services.
- More than 40% of the respondents viewed that corruption had increased over the past twelve months.
- In India, 53% respondents said the government was doing well and only 35% said the government was doing badly in the anti-graft fight.
- 63% of the respondents in India said that individuals had the power to fight corruption.
- Besides, the report said that approximately 90 crore people across 16 countries in Asia Pacific including India and China are estimated to have paid a bribe to access public services.
- The report stated that in India (73%), Pakistan (64%) and Thailand (46%), poorer section of the society mostly paid bribe to get things done while in China, the richer sections were more likely to pay a bribe.
- In India, 59% respondents reported the highest bribery was paid for procuring government healthcare services and even identification related documents. Bribes paid for education were next on the list with 58% having reported doing so.
- As per the survey in the Asia Pacific region, police topped the list of public services which often demanded bribe with about 30% respondents across the region stating that they paid a bribe.
- The TI concentrated on bribes paid for procuring six key public services like public schools, public hospitals, official documents (such as identification card, voters card), public utility services, the police and courts.
- The TI suggested that governments must take effective steps do more to deliver on their anti-corruption commitments. It said that corruption exists without proper law enforcement.
About Transparency International (TI)
Transparency International (TI) is an international non-governmental organization which is based in Berlin, Germany, and was founded in 1993.
- Its nonprofit purpose is to take action to combat corruption and prevent criminal activities arising from corruption.
- It publishes the Global Corruption Barometer and the Corruption Perceptions Index.
- The Global Corruption Barometer published by Transparency International is the largest survey in the world tracking public opinion on corruption. It surveys 114,000 people in 107 countries on their view of corruption.
According to the Global Corruption Barometer for the Asia Pacific Region released by Transparency International on March 7, in Berlin for 16 Asia Pacific countries, India tops the list for being the most corrupt nation.
- The Transparency International (TI), an anti-corruption global civil society organisation, surveyed 21,861 people in 16 countries across the Asia Pacific region between July 2015 and January 2017 about their perceptions and experiences of corruption to present the report.
- According to the survey, about 69 percent of the population in India paid bribe to get their work done.
- India was followed by Vietnam (65%), Thailand (41%), Cambodia, Pakistan and Myanmar, each with 40%.
- Besides, China (26%) was one of the least corrupt nations and it was the lowest in Japan (0.2%).
Highlights of the Report
The report said that nearly 7 in 10 Indians paid bribe to access public services.
- More than 40% of the respondents viewed that corruption had increased over the past twelve months.
- In India, 53% respondents said the government was doing well and only 35% said the government was doing badly in the anti-graft fight.
- 63% of the respondents in India said that individuals had the power to fight corruption.
- Besides, the report said that approximately 90 crore people across 16 countries in Asia Pacific including India and China are estimated to have paid a bribe to access public services.
- The report stated that in India (73%), Pakistan (64%) and Thailand (46%), poorer section of the society mostly paid bribe to get things done while in China, the richer sections were more likely to pay a bribe.
- In India, 59% respondents reported the highest bribery was paid for procuring government healthcare services and even identification related documents. Bribes paid for education were next on the list with 58% having reported doing so.
- As per the survey in the Asia Pacific region, police topped the list of public services which often demanded bribe with about 30% respondents across the region stating that they paid a bribe.
- The TI concentrated on bribes paid for procuring six key public services like public schools, public hospitals, official documents (such as identification card, voters card), public utility services, the police and courts.
- The TI suggested that governments must take effective steps do more to deliver on their anti-corruption commitments. It said that corruption exists without proper law enforcement.
About Transparency International (TI)
Transparency International (TI) is an international non-governmental organization which is based in Berlin, Germany, and was founded in 1993.
- Its nonprofit purpose is to take action to combat corruption and prevent criminal activities arising from corruption.
- It publishes the Global Corruption Barometer and the Corruption Perceptions Index.
- The Global Corruption Barometer published by Transparency International is the largest survey in the world tracking public opinion on corruption. It surveys 114,000 people in 107 countries on their view of corruption.
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