General Affairs
'Voting For Shiv Sena Is Like Bringing Congress Back To Power': Devendra Fadnavis
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Voting for the Shiv Sena in the upcoming Nanded-Waghala Municipal Corporation polls would mean bringing the Congress to power, Chief Minister Devendra Fadnavis said here today while launching a vicious attack on the Uddhav Thackeray-led Shiv Sena party.
He said Shiv Sena, the ruling ally of the BJP in Centre and state governments, is not even in the reckoning for the civic polls, scheduled on October 11.
Addressing a public rally, Chief Minister Fadnavis also didn't spare sitting Member of Parliament (MP) and Congress stalwart Ashok Chavan, who has parked himself in the constituency to ensure that his party retains the civic body.
Chief Minister Fadnavis' attack on the Sena came a day after Mr Thackeray dared the BJP to "resign" from the Maharashtra government and face mid term polls. Mr Thackeray had also slammed Prime Minister Narendra Modi over his visit to Gujarat, which he dubbed a "poll campaign".
"Entire Maharashtra is standing behind the BJP today. In the recent elections to 16 municipal corporations, the BJP came to power in 13. There is no trace left of the Congress. As far as the Sena is concerned, it is not even in the race here. So I do not feel the need to say anything much about them," Chief Minister Fadnavis told the gathering.
He recalled that the Sena had joined hands with the Congress against the BJP when the party was voted to power in Aurangabad municipal corporation polls. He said Sena had sided with the Congress in Jalna, Parbhani and Hingoli civic bodies as well.
Attacking the Sena, which has been firing salvos at Prime Minister Modi and the BJP-led NDA governments at Centre and state despite being an alliance partner, the Chief Minister said the Thackeray-led party had also helped the Congress in securing a victory in Nanded Zilla Parishad (ZP) polls.
"Sena is not fighting in Nanded to win but to ensure that the BJP loses the election. Voting for them (Sena) means giving direct votes to the Congress. The Sena is in the poll fray only on the directions of the Congress," the CM said.
Chief Minister Fadnvais said the BJP came to power in 18 states because of "good governance" under the leadership of the Prime Minister.
"In Modiji, people have got a leader who actually works for the poor. In the last 70 years of the Congress rule, they could not even provide people with houses. But under Modiji'svision, he has promised housing for all by 2022. He does not merely talk but the construction of crores of homes across the nation has already started," he said.
The Nanded civic polls is viewed as a litmus test for former Chief Minister and current state Congress unit president Ashok Chavan, whose father late Shankarrao Chavan, a former defence minister, had nurtured the constituency over years.
The 81-member civic body is currently controlled by the Congress. In the 2012 polls, the Congress had won 41 seats, Sena 14, BJP 2, NCP 10, MIM 11, Others (2), Independent 1.
Out of 81 seats, 41 seats are reserved for women candidates, 15 seats for SC candidates, 2 for ST and 22 seats for Backward Class communities.
The counting of votes will be done on October 12 and results will be declared on the same day. A total of 578 candidates are in the poll fray. Meanwhile, targeting Mr Chavan, the CM said, "As many as 50,000 people in Nanded lack a proper house to live. In all these years of power, the MPCC president only cared about himself".
He said various civic works and the condition of roads in Nanded would have been better had the funds been allotted to "right people" and not "laundered".
"If Rs. 300-350 crore had been allotted to right people and the money was not laundered, it would have been ensured that all roads in Nanded are of good quality. No money would have been needed for the next 20 years, but they (Congress) were interested only in taking commissions," the CM alleged.
He said Shiv Sena, the ruling ally of the BJP in Centre and state governments, is not even in the reckoning for the civic polls, scheduled on October 11.
Addressing a public rally, Chief Minister Fadnavis also didn't spare sitting Member of Parliament (MP) and Congress stalwart Ashok Chavan, who has parked himself in the constituency to ensure that his party retains the civic body.
Chief Minister Fadnavis' attack on the Sena came a day after Mr Thackeray dared the BJP to "resign" from the Maharashtra government and face mid term polls. Mr Thackeray had also slammed Prime Minister Narendra Modi over his visit to Gujarat, which he dubbed a "poll campaign".
"Entire Maharashtra is standing behind the BJP today. In the recent elections to 16 municipal corporations, the BJP came to power in 13. There is no trace left of the Congress. As far as the Sena is concerned, it is not even in the race here. So I do not feel the need to say anything much about them," Chief Minister Fadnavis told the gathering.
He recalled that the Sena had joined hands with the Congress against the BJP when the party was voted to power in Aurangabad municipal corporation polls. He said Sena had sided with the Congress in Jalna, Parbhani and Hingoli civic bodies as well.
Attacking the Sena, which has been firing salvos at Prime Minister Modi and the BJP-led NDA governments at Centre and state despite being an alliance partner, the Chief Minister said the Thackeray-led party had also helped the Congress in securing a victory in Nanded Zilla Parishad (ZP) polls.
"Sena is not fighting in Nanded to win but to ensure that the BJP loses the election. Voting for them (Sena) means giving direct votes to the Congress. The Sena is in the poll fray only on the directions of the Congress," the CM said.
Chief Minister Fadnvais said the BJP came to power in 18 states because of "good governance" under the leadership of the Prime Minister.
"In Modiji, people have got a leader who actually works for the poor. In the last 70 years of the Congress rule, they could not even provide people with houses. But under Modiji'svision, he has promised housing for all by 2022. He does not merely talk but the construction of crores of homes across the nation has already started," he said.
The Nanded civic polls is viewed as a litmus test for former Chief Minister and current state Congress unit president Ashok Chavan, whose father late Shankarrao Chavan, a former defence minister, had nurtured the constituency over years.
The 81-member civic body is currently controlled by the Congress. In the 2012 polls, the Congress had won 41 seats, Sena 14, BJP 2, NCP 10, MIM 11, Others (2), Independent 1.
Out of 81 seats, 41 seats are reserved for women candidates, 15 seats for SC candidates, 2 for ST and 22 seats for Backward Class communities.
The counting of votes will be done on October 12 and results will be declared on the same day. A total of 578 candidates are in the poll fray. Meanwhile, targeting Mr Chavan, the CM said, "As many as 50,000 people in Nanded lack a proper house to live. In all these years of power, the MPCC president only cared about himself".
He said various civic works and the condition of roads in Nanded would have been better had the funds been allotted to "right people" and not "laundered".
"If Rs. 300-350 crore had been allotted to right people and the money was not laundered, it would have been ensured that all roads in Nanded are of good quality. No money would have been needed for the next 20 years, but they (Congress) were interested only in taking commissions," the CM alleged.
Look Into Accounts Of Political Parties Over Foreign Funding, Centre Told
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The Delhi High Court today granted six-months time to the Centre to look into accounts of political parties, including the Congress and the BJP, for traces of foreign funds.
A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar gave the "last opportunity" to the Ministry of Home Affairs for compliance of its 2014 judgement, in which the high court had found both parties flouting the norms of the FCRA by accepting donations from Indian subsidiaries of UK-based Vedanta Resources.
Section 4 of the Foreign Contribution (Regulation) Act (FCRA) prohibits a political party or legislature from accepting foreign contributors.
On March 28, 2014, the high court had ordered the Election Commission and the Ministry of Home Affairs to look into the accounts of political parties and take action within six months. However, MHA represented by central government's standing counsel Monika Arora, sought extension of time till March 31, 2018 to comply with the court's directions.
The Centre in its application said the records are voluminous in nature and are of few decades old, hence, to collect, collate and then analyse them requires more time.
A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar gave the "last opportunity" to the Ministry of Home Affairs for compliance of its 2014 judgement, in which the high court had found both parties flouting the norms of the FCRA by accepting donations from Indian subsidiaries of UK-based Vedanta Resources.
Section 4 of the Foreign Contribution (Regulation) Act (FCRA) prohibits a political party or legislature from accepting foreign contributors.
On March 28, 2014, the high court had ordered the Election Commission and the Ministry of Home Affairs to look into the accounts of political parties and take action within six months. However, MHA represented by central government's standing counsel Monika Arora, sought extension of time till March 31, 2018 to comply with the court's directions.
The Centre in its application said the records are voluminous in nature and are of few decades old, hence, to collect, collate and then analyse them requires more time.
Indian Soldiers Killing Five To Six Terrorists Every Day, Says Rajnath Singh
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Union Home Minister Rajnath Singh has said that Indian soldiers have been neutralising at least five to six terrorists every day, and that he has asked them to give a fitting reply if Pakistan opened fire on them.
Mr Singh said yesterday that he had ordered Indian soldiers not to fire at their Pakistani counterparts first, but give them a fitting reply by "firing countless bullets" if Pakistan dared to open fire.
Speaking about the Dokalam issue, Mr Singh said India was not a weak country anymore, but a strong one, and was in a position to resolve the contentious matter with its neighbour China.
"India is no more a weak nation, but a strong country. You ought to know how India resolved the Dokalam issue with China, especially when most people across the world were anticipating an India-China conflict," the home minister said.
"If India was a weak country, it could not have been in a position to resolve the Doklam issue with China," he added.
Indian and Chinese soldiers were engaged in a standoff in Doklam in Sikkim sector for more than two months earlier this year after Chinese troops tried to build a road in the disputed area claimed by India's ally Bhutan.
The standoff was lated resolved through diplomatic negotiations.
Mr Singh said yesterday that he had ordered Indian soldiers not to fire at their Pakistani counterparts first, but give them a fitting reply by "firing countless bullets" if Pakistan dared to open fire.
"India is no more a weak nation, but a strong country. You ought to know how India resolved the Dokalam issue with China, especially when most people across the world were anticipating an India-China conflict," the home minister said.
"If India was a weak country, it could not have been in a position to resolve the Doklam issue with China," he added.
Indian and Chinese soldiers were engaged in a standoff in Doklam in Sikkim sector for more than two months earlier this year after Chinese troops tried to build a road in the disputed area claimed by India's ally Bhutan.
The standoff was lated resolved through diplomatic negotiations.
7th Pay Commission: Annual 'Dress' Allowance For Special Officers, Envoys Goes Up
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The annual 'dress allowance' for officers attached to Prime Minister Narendra Modi, former prime ministers and their families, has got a big lift. As part of the Seventh Central Pay Commission, diplomats and elite Special Protection Group (SPG) officers during operational duties would get Rs. 27,800 annually and Rs. 21,225 on non-operational work, according to an official order.
Before the implementation of the panel's recommendation, the officers got Rs. 9,000 annually as uniform allowance. The SPG is responsible for the safety of PM Modi, former PM Manmohan Singh, Congress chief Sonia Gandhi, her children Rahul and Priyanka, among others.
The pay commission had in its report recommended an annual grant of Rs. 10,000 as dress allowance. The panel's report was examined by a Committee on Allowances headed by Finance Secretary Ashok Lavasa. The Commission examined 196 allowances given to various categories of central government employees.
Outfit allowance for Indian Foreign Service (IFS) officers and employees has been increased Rs. 5,625 to Rs. 10,625 per posting abroad, depending on their grade, as uniform allowance, the order by the finance ministry said.
The uniform allowance given to all categories of employees was recommended to be abolished as a separate grant by the pay commission that had recommended it is subsumed in the newly proposed dress allowance.
Officers of the Indian Army, Air Force, Navy, central armed police forces, central police organisations and coast guards would get a dress allowance of Rs. 20,000 per year. Except for the Navy and the Coast Guard, other officers were getting an initial annual allowance of Rs. 21,000 and a renewal grant of Rs. 4,500 (payable every three years). Those in the Navy and the Coast Guard were entitled for an initial grant of Rs. 24,000 and then Rs. 7,500 (payable every three years).
"The amount of dress allowance shall be credited to the salary of employees directly once a year in the month of July," the order said, adding that the new charges take effect from July 1, 2017.
Before the implementation of the panel's recommendation, the officers got Rs. 9,000 annually as uniform allowance. The SPG is responsible for the safety of PM Modi, former PM Manmohan Singh, Congress chief Sonia Gandhi, her children Rahul and Priyanka, among others.
Outfit allowance for Indian Foreign Service (IFS) officers and employees has been increased Rs. 5,625 to Rs. 10,625 per posting abroad, depending on their grade, as uniform allowance, the order by the finance ministry said.
The uniform allowance given to all categories of employees was recommended to be abolished as a separate grant by the pay commission that had recommended it is subsumed in the newly proposed dress allowance.
Officers of the Indian Army, Air Force, Navy, central armed police forces, central police organisations and coast guards would get a dress allowance of Rs. 20,000 per year. Except for the Navy and the Coast Guard, other officers were getting an initial annual allowance of Rs. 21,000 and a renewal grant of Rs. 4,500 (payable every three years). Those in the Navy and the Coast Guard were entitled for an initial grant of Rs. 24,000 and then Rs. 7,500 (payable every three years).
"The amount of dress allowance shall be credited to the salary of employees directly once a year in the month of July," the order said, adding that the new charges take effect from July 1, 2017.
PM Modi Meets Global Oil Chiefs, Targets More Energy Reforms
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Prime Minister Narendra Modi sees scope for further reform of the country's energy sector and has received "focused suggestions" from some of the world's leading energy companies, his office said on Monday.
Under PM Modi, India, which is the world's third-biggest oil consumer, is trying to use its market size to strike better deals with oil exporters and attract investment into exploration and refining industries in the country.
Executives from companies including Rosneft, BP, Exxon Mobil, Reliance Industries, Saudi Aramco, Royal Dutch Shell, Vedanta, Schlumberger and Halliburton met PM Modi as the industry gathered in New Delhi for the three-day India Energy Forum, which finishes on Tuesday.
"Participants appreciated the pace and drive with which Prime Minister Modi has brought about reform in the energy sector," the Prime Minister's Office said in a statement after the meeting.
"Subjects such as the need for a unified energy policy, contract frameworks and arrangements, requirement of seismic data sets, encouragement for biofuels, improving gas supply, setting up of a gas hub and regulatory issues came up for discussion," it said, and also that many suggestions at the last meeting in 2016 have helped guide Indian policy-making. PM Modi said he appreciated the "focused suggestions" made this year and that "scope for reform in many areas still exists," his office said.
The Prime Minister was quoted as saying that he looks forward to "various opportunities" for cooperation between India and Saudi Arabia, the second biggest oil exporter to the country behind Iraq.
State-run Saudi Aramco, which on Sunday launched a new office near New Delhi, is in talks with several Indian refiners for a possible joint venture by next year. Its Chief Executive Amin Nasser told the conference after the meeting with PM Modi that India's oil demand would double by 2040 to about 10 million barrels per day, making it the world's largest market for the fuel and a priority for the company.
In the meeting, PM Modi thanked Russian President Vladimir Putin and Rosneft for their support to India's energy sector. The two leaders were instrumental in helping seal Rosneft's $12.9 billion acquisition of India's debt-laden Essar Oil, strengthening ties between the world's largest oil producer and the fastest-growing fuel consumer.
In another vote of confidence for India's energy sector, BP and Reliance have previously said they would jointly invest $6 billion to boost India's gas output. A BP executive said on Monday that the company was "excited about gas, upstream and digital innovation in India".
Alay Patel, a senior analyst with consultancy Wood Mackenzie, the global president of which also met PM Modi, said that India's domestic energy production outlook was positive thanks to steps such as a simplified licensing regime and clarity on contracts.
"But more is needed," said Mr Patel. "Allowing marketing and pricing freedom for all gas production, regardless of shore status and contract vintage, would incentivise companies to develop gas in the less explored basins."
Under PM Modi, India, which is the world's third-biggest oil consumer, is trying to use its market size to strike better deals with oil exporters and attract investment into exploration and refining industries in the country.
Executives from companies including Rosneft, BP, Exxon Mobil, Reliance Industries, Saudi Aramco, Royal Dutch Shell, Vedanta, Schlumberger and Halliburton met PM Modi as the industry gathered in New Delhi for the three-day India Energy Forum, which finishes on Tuesday.
"Subjects such as the need for a unified energy policy, contract frameworks and arrangements, requirement of seismic data sets, encouragement for biofuels, improving gas supply, setting up of a gas hub and regulatory issues came up for discussion," it said, and also that many suggestions at the last meeting in 2016 have helped guide Indian policy-making. PM Modi said he appreciated the "focused suggestions" made this year and that "scope for reform in many areas still exists," his office said.
The Prime Minister was quoted as saying that he looks forward to "various opportunities" for cooperation between India and Saudi Arabia, the second biggest oil exporter to the country behind Iraq.
State-run Saudi Aramco, which on Sunday launched a new office near New Delhi, is in talks with several Indian refiners for a possible joint venture by next year. Its Chief Executive Amin Nasser told the conference after the meeting with PM Modi that India's oil demand would double by 2040 to about 10 million barrels per day, making it the world's largest market for the fuel and a priority for the company.
In the meeting, PM Modi thanked Russian President Vladimir Putin and Rosneft for their support to India's energy sector. The two leaders were instrumental in helping seal Rosneft's $12.9 billion acquisition of India's debt-laden Essar Oil, strengthening ties between the world's largest oil producer and the fastest-growing fuel consumer.
In another vote of confidence for India's energy sector, BP and Reliance have previously said they would jointly invest $6 billion to boost India's gas output. A BP executive said on Monday that the company was "excited about gas, upstream and digital innovation in India".
Alay Patel, a senior analyst with consultancy Wood Mackenzie, the global president of which also met PM Modi, said that India's domestic energy production outlook was positive thanks to steps such as a simplified licensing regime and clarity on contracts.
"But more is needed," said Mr Patel. "Allowing marketing and pricing freedom for all gas production, regardless of shore status and contract vintage, would incentivise companies to develop gas in the less explored basins."
Business Affairs
FinMin asks taxpayers to file GST return for July by tomorrow
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The government on Monday asked businesses to file final GST returns for the month of July by tomorrow as it ruled out any extension to the due date. "An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately," the finance ministry said in a statement.
Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer will be generated automatically.
The buyer shall finalise his GSTR-2 after making modifications, if required, in GSTR-2A and avail the Input Tax Credit (ITC).
"If a taxpayer does not file GSTR-1 by October 10, then his buyer may face difficulty in availing ITC of the tax paid on his supplies," it said.
The ministry said all suppliers of goods or services, especially B2B suppliers, furnish their outward supply details in GSTR-1 by the due date so that no difficulty is faced by their buyers in availing ITC.
As per the latest figure, about 53 lakh taxpayers had filed GSTR-3B return for the month of July 2017. An equal number of taxpayers need to file GSTR-1 by October 10, 2017.
The government has already collected over Rs. 95,000 crore as GST in July, the first month of roll out of the Goods and Services Tax.
The government on Monday asked businesses to file final GST returns for the month of July by tomorrow as it ruled out any extension to the due date. "An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately," the finance ministry said in a statement.
Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer will be generated automatically.
The buyer shall finalise his GSTR-2 after making modifications, if required, in GSTR-2A and avail the Input Tax Credit (ITC).
"If a taxpayer does not file GSTR-1 by October 10, then his buyer may face difficulty in availing ITC of the tax paid on his supplies," it said.
The ministry said all suppliers of goods or services, especially B2B suppliers, furnish their outward supply details in GSTR-1 by the due date so that no difficulty is faced by their buyers in availing ITC.
As per the latest figure, about 53 lakh taxpayers had filed GSTR-3B return for the month of July 2017. An equal number of taxpayers need to file GSTR-1 by October 10, 2017.
The government has already collected over Rs. 95,000 crore as GST in July, the first month of roll out of the Goods and Services Tax.
Tata Group to exit telecom sector amidst growing losses; 5000 jobs hang in balance: Report
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Tata Teleservices, the telecom arm of Tata Group, is planning to cease operations after mounting losses. Fate of around 5,000 employees presently engaged with the company hangs in the balance if the salt-to-software conglomerate decides to pull out of the telecom business. This will also be the first major unit under Tata Sons to shut shop in the group's 149-year history.
With things turning for the worse, reports state that Tata Teleservices is readying exit plans for its staff members. The company employs a staff of 5,101 as on March 31, 2017, according to its latest annual report. The employees are to be offered notice periods of six to three months, and severance packages for those who wish to leave earlier, said a report by The Economic Times.
A voluntary retirement scheme will be rolled out in a few months for senior members of staff above a certain age limit. Only a small percentage of employees will be absorbed in other companies of the Tata Group. Only those staffers who have a specific qualification which can be put to use in other group companies will be taken up for absorption, the report said.
"The Tata Group has always taken care of its people, but very few will get absorbed in other group companies. It is unfair to saddle other Tata companies with employees of TTSL," an anonymous senior official was quoted by the ET.
The 21-year old telecom company had reportedly asked its circle heads back in September earlier this year to leave by March 31, 2018, when the current financial year ends. Circle heads who leave now will receive the salary for the rest of the financial year, search firms looking into telecom industry have informed, which could be close to Rs one crore.
Tata Group, however, has clarified that it is looking into every option available before finally closing down. Closing down business is bound to hurt the interests of stakeholders who have invested in the company. Tata Group was in talks with other firms for selling its telecom arm, to avoid this eventuality, but its debt amounting to Rs 30,000 crore played spoilsport.
Representatives from Tata Teleservices have met officials of Department of Telecommunication, to apprise them of decision to close down the company and to discuss sale or surrender of the spectrum allocated to or purchased by them. The process in this direction could reportedly begin by next month. The 800MHz spectrum owned by the company could attract competitors looking to expand their 4G network.
Tata Teleservices commenced operations in 1996 with landline services. The company launched CDMA services in 2002 and later moved on the GSM services 2008. Upon this, it received Rs 14,000 crore investment from NTT Docomo. The Japanese telco later exited the joint venture in 2014 on account of poor financial returns.
Meanwhile, the Tata Group is planning to streamline its extensive portfolio and consolidate group companies to simplify operations. The conglomerate could merge companies based on clusters like realty, agriculture and others.
Leaving five major Tata Group companies alone - TCS, Tata Steel, Tata Motors, Tata Power and IHCL - the rest could well be clustered as communications and ITES companies, consumer and retail companies, realty and infrastructure companies, agriculture and chemicals companies, service-related companies and financial services companies, as so on.
Tata Teleservices, the telecom arm of Tata Group, is planning to cease operations after mounting losses. Fate of around 5,000 employees presently engaged with the company hangs in the balance if the salt-to-software conglomerate decides to pull out of the telecom business. This will also be the first major unit under Tata Sons to shut shop in the group's 149-year history.
With things turning for the worse, reports state that Tata Teleservices is readying exit plans for its staff members. The company employs a staff of 5,101 as on March 31, 2017, according to its latest annual report. The employees are to be offered notice periods of six to three months, and severance packages for those who wish to leave earlier, said a report by The Economic Times.
A voluntary retirement scheme will be rolled out in a few months for senior members of staff above a certain age limit. Only a small percentage of employees will be absorbed in other companies of the Tata Group. Only those staffers who have a specific qualification which can be put to use in other group companies will be taken up for absorption, the report said.
"The Tata Group has always taken care of its people, but very few will get absorbed in other group companies. It is unfair to saddle other Tata companies with employees of TTSL," an anonymous senior official was quoted by the ET.
The 21-year old telecom company had reportedly asked its circle heads back in September earlier this year to leave by March 31, 2018, when the current financial year ends. Circle heads who leave now will receive the salary for the rest of the financial year, search firms looking into telecom industry have informed, which could be close to Rs one crore.
Tata Group, however, has clarified that it is looking into every option available before finally closing down. Closing down business is bound to hurt the interests of stakeholders who have invested in the company. Tata Group was in talks with other firms for selling its telecom arm, to avoid this eventuality, but its debt amounting to Rs 30,000 crore played spoilsport.
Representatives from Tata Teleservices have met officials of Department of Telecommunication, to apprise them of decision to close down the company and to discuss sale or surrender of the spectrum allocated to or purchased by them. The process in this direction could reportedly begin by next month. The 800MHz spectrum owned by the company could attract competitors looking to expand their 4G network.
Tata Teleservices commenced operations in 1996 with landline services. The company launched CDMA services in 2002 and later moved on the GSM services 2008. Upon this, it received Rs 14,000 crore investment from NTT Docomo. The Japanese telco later exited the joint venture in 2014 on account of poor financial returns.
Meanwhile, the Tata Group is planning to streamline its extensive portfolio and consolidate group companies to simplify operations. The conglomerate could merge companies based on clusters like realty, agriculture and others.
Leaving five major Tata Group companies alone - TCS, Tata Steel, Tata Motors, Tata Power and IHCL - the rest could well be clustered as communications and ITES companies, consumer and retail companies, realty and infrastructure companies, agriculture and chemicals companies, service-related companies and financial services companies, as so on.
Petrol pumps nationwide to be shut for 24 hrs from Oct 12 midnight
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The United Petroleum Front (UPF) today announced a 24-hour closure of outlets by petroleum dealers nationwide from October 12 midnight to press the government on their demands, including rectification of trade anomalies.
The UPF has said that if the government does not relent, it would go for an indefinite closure of purchase and sale from October 27 till the trade anomalies are resolved.
Speaking to reporters, the president of All Karnataka Front of Petroleum Traders B R Ravindranath said Oil Marketing Companies (OMCs) are not keen on resolving the issues and demands which they had earlier agreed on November 4 last year.
"OMCs had agreed to resolve issues pertaining to revision on return of investment, revision of dealer margin every six months, revised manpower requirement,fresh study on petroleum product handling losses, product transportation issues and ethanol blending without proper equipment. Sadly none of them have been addressed," said Ravindranath.
The petroleum dealers said that the recent amendment in Marketing Discipline Guidelines (MDG) to penalise dealers up to Rs 2 lakh is arbitrary and unjustified.
He was also critical about the zero tolerance policy, saying that manufacturers of the equipment themselves do not guarantee a 'zero tolerance' behaviour of their equipment.
Ravindranath demanded that the daily price mechanism and the proposed 'home delivery' be reconsidered as it has not benefited the traders.
He said the UPF also demands implementation of the Goods and Services Tax on petroleum products.
"GST must be implemented on petroleum products so that 'one nation, one rate' can be fulfilled to benefit consumers," said Ravindranath.
The United Petroleum Front (UPF) today announced a 24-hour closure of outlets by petroleum dealers nationwide from October 12 midnight to press the government on their demands, including rectification of trade anomalies.
The UPF has said that if the government does not relent, it would go for an indefinite closure of purchase and sale from October 27 till the trade anomalies are resolved.
Speaking to reporters, the president of All Karnataka Front of Petroleum Traders B R Ravindranath said Oil Marketing Companies (OMCs) are not keen on resolving the issues and demands which they had earlier agreed on November 4 last year.
"OMCs had agreed to resolve issues pertaining to revision on return of investment, revision of dealer margin every six months, revised manpower requirement,fresh study on petroleum product handling losses, product transportation issues and ethanol blending without proper equipment. Sadly none of them have been addressed," said Ravindranath.
The petroleum dealers said that the recent amendment in Marketing Discipline Guidelines (MDG) to penalise dealers up to Rs 2 lakh is arbitrary and unjustified.
He was also critical about the zero tolerance policy, saying that manufacturers of the equipment themselves do not guarantee a 'zero tolerance' behaviour of their equipment.
Ravindranath demanded that the daily price mechanism and the proposed 'home delivery' be reconsidered as it has not benefited the traders.
He said the UPF also demands implementation of the Goods and Services Tax on petroleum products.
"GST must be implemented on petroleum products so that 'one nation, one rate' can be fulfilled to benefit consumers," said Ravindranath.
Supreme Court rules for ban on firecrackers sale during Diwali in Delhi, NCR up till Nov 1
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In a decision that has high likelihood of polarising the citizens of Delhi, NCR, the Supreme Court has banned the sale of firecrackers till November 1. This means that Diwali, which will be celebrated on October 19, is likely to be firecracker-free and silent this year. A plea was sought so as to restore the verdict passed in 2016.
While firecrackers are not the only factor, last year the Delhi-NCR region saw alarming levels of air pollution towards the end of the year. In order to curb pollution, the Supreme Court had suspended all licences that permitted sale - wholesale and retail - of firecrackers in the Delhi, NCR region on November 11. However, on September 12 this year the ban was relaxed.
Now, after petitioner Arjun Gopal petitioned to reinstate the ban, so as not to let a surge of air pollution levels like last year, the Supreme Court has given a green signal. Advocate Gopal Shankarnarayan argued that while there are many factors leading up to this state of pollution, firecrackers is one of them, while the other side argued that the same points were being considered when the ban was lifted a month ago and it was done so keeping all the parties who are involved, including the traders and the pollution board, in mind.
The Supreme Court bench, headed by Justice AK Sikri said that we must at least see the impact of cracker-free festivities on at least one Diwali.
It must be mentioned here that citizens of Delhi-NCR have been suffering the impact of dangerously high pollution levels every year post-Diwali up till spring season. In fact, according to a report in The Hindu , during Diwali night last year, the city's air pollution levels were 14-16 times beyond the safe limits. Seeing that the condition was not getting better, some schools even suspended classes, visibility was down to 200 mt, environmentalists called it an emergency and the government received flak for not being able to help the situation.
In a decision that has high likelihood of polarising the citizens of Delhi, NCR, the Supreme Court has banned the sale of firecrackers till November 1. This means that Diwali, which will be celebrated on October 19, is likely to be firecracker-free and silent this year. A plea was sought so as to restore the verdict passed in 2016.
While firecrackers are not the only factor, last year the Delhi-NCR region saw alarming levels of air pollution towards the end of the year. In order to curb pollution, the Supreme Court had suspended all licences that permitted sale - wholesale and retail - of firecrackers in the Delhi, NCR region on November 11. However, on September 12 this year the ban was relaxed.
Now, after petitioner Arjun Gopal petitioned to reinstate the ban, so as not to let a surge of air pollution levels like last year, the Supreme Court has given a green signal. Advocate Gopal Shankarnarayan argued that while there are many factors leading up to this state of pollution, firecrackers is one of them, while the other side argued that the same points were being considered when the ban was lifted a month ago and it was done so keeping all the parties who are involved, including the traders and the pollution board, in mind.
The Supreme Court bench, headed by Justice AK Sikri said that we must at least see the impact of cracker-free festivities on at least one Diwali.
The Supreme Court bench, headed by Justice AK Sikri said that we must at least see the impact of cracker-free festivities on at least one Diwali.
It must be mentioned here that citizens of Delhi-NCR have been suffering the impact of dangerously high pollution levels every year post-Diwali up till spring season. In fact, according to a report in The Hindu , during Diwali night last year, the city's air pollution levels were 14-16 times beyond the safe limits. Seeing that the condition was not getting better, some schools even suspended classes, visibility was down to 200 mt, environmentalists called it an emergency and the government received flak for not being able to help the situation.
Chinese goods sale may come down by 45% this Diwali, says Survey
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Sale of Chinese goods like lights, gift items, lamps and wall hangings may decline by 40-45 per cent this Diwali as compared to last year as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report.
Chinese products had recorded a 30 per cent decline in sales last year on Diwali, the festival of lights which coincides with the Hindu New Year.
A survey by Assocham-Social Development Foundation mapped responses of wholesalers, retailers, traders in cities of Ahmedabad, Bengaluru, Bhopal, Chennai, Dehradun, Delhi, Hyderabad, Jaipur, Lucknow and Mumbai to estimate the demand for Chinese products across India.
"There seems to be a decline of about 40-45 per cent in consumption of Chinese products on this Diwali in comparison to last year. Chinese items that are most sought fancy lights, lampshades, Ganesha and Laxmi idols, rangolis and crackers etc. As per the findings, this Diwali, people are preferring Indian products over Chinese goods," Assocham said.
According to the survey, the demand of electronic items like LCDs, mobile phones and other items made in China has also declined by 15-20 per cent.
Shopkeepers who took part in the survey said most of the customers are demanding Indian lights or earthen diyas.
According to an estimate, the value of Chinese goods sold in 2016 during Diwali was around Rs 6,500 crore, out of which Rs 4,000 crore was for products such as toys, fancy lights, gift items, plastic ware, decorative goods etc.
Sale of Chinese goods like lights, gift items, lamps and wall hangings may decline by 40-45 per cent this Diwali as compared to last year as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report.
Chinese products had recorded a 30 per cent decline in sales last year on Diwali, the festival of lights which coincides with the Hindu New Year.
A survey by Assocham-Social Development Foundation mapped responses of wholesalers, retailers, traders in cities of Ahmedabad, Bengaluru, Bhopal, Chennai, Dehradun, Delhi, Hyderabad, Jaipur, Lucknow and Mumbai to estimate the demand for Chinese products across India.
"There seems to be a decline of about 40-45 per cent in consumption of Chinese products on this Diwali in comparison to last year. Chinese items that are most sought fancy lights, lampshades, Ganesha and Laxmi idols, rangolis and crackers etc. As per the findings, this Diwali, people are preferring Indian products over Chinese goods," Assocham said.
According to the survey, the demand of electronic items like LCDs, mobile phones and other items made in China has also declined by 15-20 per cent.
Shopkeepers who took part in the survey said most of the customers are demanding Indian lights or earthen diyas.
According to an estimate, the value of Chinese goods sold in 2016 during Diwali was around Rs 6,500 crore, out of which Rs 4,000 crore was for products such as toys, fancy lights, gift items, plastic ware, decorative goods etc.
General Awareness
India slips to 8th among most valuable brands – Nation Brands 2017
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India has ranked as 8th most valuable nation brand as per Brand Finance’s Nation Brands 2017 report.
Highlights of Nation Brands 2017 report:
In 2017, India has slipped down by one spot as compared to 2016 ranking.India’s National Brand Value in 2017 at USD 2.04 trillion too has eroded by nearly one percent from last year’s USD 2.06 trillion.
- Recent slowdown in India’s economic growth has been considered as the main reason behind this drop. Report has outlined that less than impressive track record of implementing reforms has dampened the future outlook for India.
- It also stated that India has been stronger in attributes related to culture and weaker in attributes related to business.
- It has been recommended that Indian Government must introduce reforms to increase job creation, provide fiscal support and boost economic growth.
- US retained its top spot as most valuable nation brand; however meagre growth of 2% percent is putting its dominance at risk. Besides, perception about Donald Trump’s Presidency is not helping ‘Brand America’.
- China occupied the second spot and has been adjudged as fastest growing nation brand in 2017. China’s national brand value grew by 44 per cent in 2017. Penetration of Chinese brands in world markets and the transformed national image of China as an emerging global power are the key factors for rise in its nation brand value.
- Surprisingly, brand value of Iceland has shot up by 83% this year. This surge has been ascribed to hit television show ‘Game of Thrones’ (GOT). Major scenes in GOT have been shot in Iceland and the related buzz brought in a record 1.8 million foreign visitors in 2016 (40% more than 2015).
Top 10 Nation Brands 2017
1st US 2nd China 3rd Germany 4th Japan 5th United Kingdom 6th France 7th Canada 8th India 9th Italy 10th South Korea
India has ranked as 8th most valuable nation brand as per Brand Finance’s Nation Brands 2017 report.
Highlights of Nation Brands 2017 report:
In 2017, India has slipped down by one spot as compared to 2016 ranking.India’s National Brand Value in 2017 at USD 2.04 trillion too has eroded by nearly one percent from last year’s USD 2.06 trillion.
- Recent slowdown in India’s economic growth has been considered as the main reason behind this drop. Report has outlined that less than impressive track record of implementing reforms has dampened the future outlook for India.
- It also stated that India has been stronger in attributes related to culture and weaker in attributes related to business.
- It has been recommended that Indian Government must introduce reforms to increase job creation, provide fiscal support and boost economic growth.
- US retained its top spot as most valuable nation brand; however meagre growth of 2% percent is putting its dominance at risk. Besides, perception about Donald Trump’s Presidency is not helping ‘Brand America’.
- China occupied the second spot and has been adjudged as fastest growing nation brand in 2017. China’s national brand value grew by 44 per cent in 2017. Penetration of Chinese brands in world markets and the transformed national image of China as an emerging global power are the key factors for rise in its nation brand value.
- Surprisingly, brand value of Iceland has shot up by 83% this year. This surge has been ascribed to hit television show ‘Game of Thrones’ (GOT). Major scenes in GOT have been shot in Iceland and the related buzz brought in a record 1.8 million foreign visitors in 2016 (40% more than 2015).
Top 10 Nation Brands 2017
| 1st | US |
| 2nd | China |
| 3rd | Germany |
| 4th | Japan |
| 5th | United Kingdom |
| 6th | France |
| 7th | Canada |
| 8th | India |
| 9th | Italy |
| 10th | South Korea |
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