88 LAKH TAXPAYERS DIDN’T FILE RETURNS IN YEAR OF NOTEBAN,
10-FOLD JUMP OVER PREVIOUS YEAR
Claiming the success of
demonetisation in increasing tax compliance, the government said it added 1.06
crore new taxpayers in the financial year 2016-17, almost 25 per cent more than
the previous year. Massive spike in the number of stop filers in the same year,
reversing a four-year trend. Stop filers are individuals who filed returns in
the earlier years but did not do so in the current year even though they are
liable to do so. They do not include taxpayers who have passed away or whose
PAN cards have been cancelled or surrendered. In 2016-17, the number of stop
filers jumped 10-fold to 88.04 lakh from 8.56 lakh in 2015-16. This is the
highest increase in almost two decades since 2000-01, tax officials said. The
number of stop filers was consistently falling from 37.54 lakh in fiscal 2013
to 27.02 lakh in fiscal 2014, 16.32 lakh in fiscal 2015 and 8.56 lakh in fiscal
2016. The spike in stop filers, according to officials, could be due to loss of
jobs or drop in income due to fall in economic activity following
demonetization of Rs 500 and Rs 1,000 notes which added up to almost 86 per
cent of the total currency in value terms. The radical policy decision of
noteban remains a contentious issue since the GDP data for 2016-17, which was
originally estimated at 7.1 per cent, was revised to 8.2 per cent in January
end this year. Typically, the number of stop filers reflects a compliance and
enforcement gap, which the tax administration fails to enforce. But this huge
increase in stop filers for 2016-17 cannot be attributed to sudden changes in
compliance behavior. The spike could be due to a fall in income or loss of jobs
during the year, said a tax official who did not want to be named. In 2016-17,
tax data also shows a sharp drop of more than 33 lakh TDS (tax deducted at
source) deductees, who did not file returns in the past. This too may imply
that persons who undertook some specified transactions in previous year, did
not undertake it during the year in question, suggesting a fall in economic
activity, said another tax official. The CBDT said: There are a large number of
persons (more than 1.75 crore) in whose case TDS/TCS is deducted, but who do
not file return Majority of such persons do not have taxable income. Assessment
year wise analysis of such taxpayers and the reasons for any unusual variation
in their numbers over different assessment years will require some more time.
Tax officials also said a change in the definition of terms such as tax base,
taxpayer and new taxpayer, by the Central Board of Direct Taxes (CBDT) in 2016,
could be one reason for a 25 per cent jump in India’s taxpayer base to 7.41
crore in 2016-17. In the previous three years too, the taxpayer base
consistently grew, although the compounded annual growth rate (CAGR) was lower
at about 18 per cent. In April 2016, the CBDT changed the definition of a tax
payer to include people who paid tax through TDS /TCS (tax collected at source)
for the financial year, even if they did not file returns. The definition of
the tax base was also tweaked to include such persons and others in whose case
TDS and TCS has been paid, but returns not filed, in any of the three financial
years previous to the year under consideration. To this, the CBDT said, The definitions
were not changed, rather these non-legal words of common parlance were defined
for the first time for consistency within the department and across different
time periods. The definition of taxbase and filer base have been consistently
followed over last six years and there is no artificial jump in taxpayer/filer
data merely on account of a formal definition of these terms. Records show that
after adopting the new definition in 2016, the tax department added about 1.13
crore TDS deductees — those who had never filed returns — retrospectively to
the original taxpayer base of 4.14 crore reported in the assessment year
2013-14, expanding the base to 5.27 crore. The department has added about 39.34
lakh such TDS deductees to the taxpayer base between assessment years 2014-15
and 2016-17.
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CBDT SIGNS 18 ADVANCE PRICING AGREEMENT IN MARCH 2019
The Central Board of
Direct Taxes (CBDT) has entered into 18 APAs in the month of March 2019, which
includes 03 Bilateral APAs (BAPAs). With the signing of these APAs, the total
number of APAs entered into by the CBDT in the year 2018-19 stands at 52, which
includes 11 BAPAs. The total number of APAs entered into by the CBDT as of now
stands at 271, which inter alia includes 31 BAPAs. The BAPAs entered into
during the month of March 2019 were with the following treaty partners:-
·
Australia – 1
·
Netherlands – 1
·
USA – 1
The BAPAs and Unilateral
APAs (UAPAs) entered into during the month of March 2019 pertain to various
sectors and sub-sectors of the economy like anti-friction bearings, risk
management solutions platforms, BPO, IT/ITeS, ATMs, industrial and
institutional cleaning and hygiene products, etc. The International
Transactions covered in all these Agreements inter alia, include the following,
–
·
contract manufacturing
·
provision of software
development services
·
back office engineering
support service
·
provision of back office
(ITeS) support services
·
provision of marketing
support services
·
payment of royalty for use
of technology and brand
·
trading
·
payment of interest
The progress of the APA
scheme strengthens the Government’s resolve of fostering a non-adversarial tax
regime. The Indian APA programme has been appreciated nationally and
internationally for being able to address complex transfer pricing issues in a
fair and transparent manner.
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GUJARAT: E-WAY BILL GETS NOD FROM TRADERS, SOME CLAIM EVASION
STILL PREVAILS
The E-Way Bill – the
requirement under Goods and Services Tax (GST) to trace the last mile
transportation of goods – that got rolled out a year ago, has got a thumbs up
from traders and tax practitioners. They claim that e-Way Bill has, to a larger
extent reduced tax evasion but also say that tax evasion still continues.
Monish Bhalla, opined that e-Way Bill has shaped up quite well after initial
hiccups The sheer number of e-way bills generated in Gujarat is a testimony to
the fact that businessmen have quickly adapted to the new regime. However, he
pointed out that in some cases, the penalties are as high as 100 per cent and
often penalties are levied without any merit. Government should review the
cases now, since it has lots of data points available. There should be more
uniformity among the state in terms of operating the new check posts. The fact
that suppliers, buyers and transporters have the option to generate e-Way Bill
is often causing confusion as to who should generate it. Ideally, it is the
suppliers who should generate it, said Bhalla. However, P D Vaghela,
commissioner of Commercial Tax said that it is necessary to be strict to ensure
that tax evasion is minimized. Of late administration has adopted a liberal
approach in terms of penalties, where it is found that there was no intention
to evade tax. Self-regulation is the key to the successful rollout of e-Way
Bill and GST. If that does not happen, the government will have to act strict,
said Vaghela. Gujarat constitutes nearly 20 per cent of all e-Way Bill
generated in the country, second only to Maharashtra. Gujarat has exempted
e-Way Bill for intra-city transport of goods and for job work in the textile
sector. The representatives of traders say that in spite of all the measures, tax
evasion has still continued However, they agree that evasion has reduced.
Honest businessmen are the losers if tax evasion continues, said Hiren Gandhi,
co-chairman of Food Committee of Gujarat Chamber of Commerce and Industry
(GCCI). Hiten Vasant, said that slowly things are getting streamlined but
authorities should be taken into account the fact that transporters are less
literate and therefore they should not be subjected to heavy compliances. One
should also focus on increasing compliance in rural areas. If that happens,
there will be a case to reduce tax rates, said Vasant.
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GST INPUT TAX CREDIT NOT ALLOWABLE ON INWARD SUPPLIES FOR
CONSTRUCTION OF WAREHOUSE: AAR
The West Bengal Authority
for Advance Rulings (AAR) has held that the input tax credit is not allowable
for the inward supplies for the construction of Warehouses. The authority
clarified that the warehouse being constructed is a immovable property, not eligible
input tax credit as the credit of such tax is blocked under section 17(5)(d) of
the GST Act. The applicant, supplying warehousing services, is constructing a
warehouse on leasehold land, using pre-fabricated technology. According to the
Applicant, it can be dismantled and reconstructed at a different location. He seeks
a ruling on whether the input tax credit is admissible on the inward supplies
for construction of the said warehouse. The applicant relied on the decision of
the Uttarakhand AAR in Vindhya Telelinks Ltd wherein relief was granted to the
applicant. Distinguishing the said order from the instant case, the authority
observed that the ld AAR in Uttarakhand has been dealing with mobile towers
fixed to a pit with a concrete base. Clearly, the intention is beneficial
enjoyment of the mobile tower and not of the concrete base. The mobile tower
can, of course, be easily dismantled and fixed elsewhere. The ld AAR has,
therefore, treated the mobile tower infrastructure, including the pole, as
movable property. In the case of the warehouse, however, the pre-fabricated
movable structures do not constitute the property of the warehouse. They are
building blocks applied to a civil structure attached to the land to construct
a complete warehouse. The warehouse cannot be conceived without the beneficial
enjoyment of the civil structure, which is an integral part of the property.
The decision in Vindhya Telelinks Ltd (supra) is not, therefore, relevant. In
this connection, reference may be made to clause 4(v) of the Circular No.
58/1/2002-CX dated 15/01/2002, where it is concluded that if items assembled or
erected at site and attached by foundation to earth cannot be dismantled
without substantial damage to its components and thus cannot be reassembled,
then the items would not be considered as moveable and will, therefore, not be
excisable goods. Clearly, the warehouse cannot be relocated by unfixing the
pre-fabricated structures alone. The dismantling of the floor, which is the
most important component of the warehouse, is not possible without substantial
damage to the foundation, the authority said. In the light of the above
discussion, it is concluded that the Applicant is constructing a warehouse that
is intended to be used as a permanent structure, and associated with beneficial
enjoyment of the land on which it is being built. The technology used for the
construction of the warehouse involves the application of pre-fabricated
structures and also civil work for supporting the pre-fabricated structure and
developing the floor of the warehouse. The warehouse cannot be conceived
without beneficial enjoyment of the civil structure embedded on earth. The
warehouse being constructed is, therefore, an immovable property, and the input
tax credit is not admissible on the inward supplies for its construction, as
the credit of such tax is blocked under section 17(5) (d) of the GST Act, it
said.
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FIRM BOOKED FOR NOT DEPOSITING GST
On charges of collecting
tax amount and not depositing it with the government officials of the goods and
services tax (GST) department have booked Randhawa Constructions Company. GST
officials said that a partner in the company, Tarlochan Singh Randhwana
collected taxes but didn’t deposit it with the government even three months
after the payments were due. GST officials said that Randhawa was arrested and
later released on bail bond of Rs 20 lakh. Randhawa admitted to being an active
partner and and depositing the collected GST amount to the government, said an
official release by the GST.
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CENTRE TO GAIN MORE FROM GST THAN STATES: FORMER RBI GOVERNOR
Y V REDDY
Y V Reddy said that the
Union government would gain more from GST than the states in the longer run
Reddy also opined that trust deficit has increased with regard to
administration of the Goods and Services Tax. The way GST has been implemented,
it does not command trust of the states. The trust deficit has increased in
regard to the administration of the GST, said Reddy. Reddy said the problem is
outside the commission. Everyone is trying to find problems in finance
commission. But problem is not with the commission. Problem is outside the
commission allow the commission to do its work, he said.
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GST RATES: RESTAURANT OWNERS SEEK DUAL TAX REGIME LIKE IN REAL
ESTATE
The National Restaurant
Association of India (NRAI) has appealed to the government to consider
introducing a dual goods and services tax (GST), on the lines of what has been
done for real estate, for the organised restaurant sector as the withdrawal of
input tax credit (ITC) under revised GST rate of 5% for restaurants have hit
businesses NRAI president Rahul Singh told. We are suggesting that let there be
an option. Those who want a levy of 5% without ITC and those who want 12% GST
along with ITC. Restaurants within hotels are charging 18% with ITC and
consumers are not complaining about it, Singh said. Singh said under the
organised restaurant sector, there are three segments — single-run eateries,
stand-alone restaurants and restaurant chains (brands having more than three
outlets). Singh said eateries that form a major chunk of the organised sector
have no input tax credit to claim since they are not sitting on leased land and
do not buy processed materials and hence have no operating expense. These
eateries are willing to pay 5% without ITC. However, the stand-alone and
restaurant chains are getting hit. When you do not get input tax credit, you
basically nudge a restaurant to go illegit. ITC is one of the principals of GST
because GST was to subsume all taxes and prevent cascading of taxes. Now since
the cascading of taxes is happening, it is a double whammy for consumers, Singh
said. He said restaurants’ expenses are shooting up, so they are cutting down
on expansion plans. There will be flight of investment outside India, he said.
In the last twelve months, in the organised restaurant sector, there has been
hardly any investment as investors are wary, he said. The removal of input tax
credit has greatly affected our industry‘s already slim margins. We are not
going to very significantly change our expansion plans, however, we are going
to focus more on overseas restaurants as returns on investments are greater
than India and the margins are significantly higher, said Zorawar Kalra.
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EXPORTS IN MARCH TO REACH $32.38 BILLION; OVER $330 BILLION IN
2018-19: SURESH PRABHU
India's exports are expected
to reach USD 32.38 billion in March, the highest in any month so far, on
account of healthy growth in sectors such as pharmaceuticals, Suresh Prabhu
said Wednesday. He said that exports would cross USD 331 billion mark in the
2018-19 fiscal year. He said that for the first time, India has crossed USD 19
billion figure in pharma exports this fiscal. The commerce ministry will
release the trade data on April 15. Imposition of high customs duties by the US
on certain steel and aluminium products have triggered a trade war kind of
situation. India's exports grew by 8.85 per cent to USD 298.47 billion during
April-February 2018-19. Since 2011-12, India's exports have been hovering at
around USD 300 billion. During 2017-18, the overseas shipments grew by about 10
per cent to USD 303 billion.
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GOVT TO DISCUSS STRATEGY TO BOOST EXPORTS TO CHINA
To increase exports to
China in order to make a substantial dent in the trade imbalance the Commerce
Ministry has scheduled a brainstorming meeting this week with other line
ministries and export promotion organisations to identify sectors and
strategies to step up performance. Exports to China have increased but not to
the extent India was hoping for. Commodities such as sugar and soyabean, which
hold a lot of promise, haven’t delivered yet. However, there are farm items
such as grapes and pomegranate where there is a big scope to increase exports.
The meeting will focus on bringing together stakeholders so that the right
strategy can be adopted, a government official told. Suresh Prabhu is expected
to chair the meeting scheduled on April 4. While India’s exports to China
increased 36.87 per cent to $11.10 billion in the April-November 2018-19
period, performance decelerated in the next three months and export growth in
April-February 2018-19 slowed 28.6 per cent to $15 billion.
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POLL SAYS POLITICS, MONETARY POLICY EASING TO HURT RUPEE, MAY
CROSS 70/$
India's rupee is expected
to reverse recent gains and weaken over the coming year hurt by monetary policy
easing, but the outcome of the national election is also likely to be key
driver of its direction, a Reuters poll found. The rupee was the worst
performing Asian currency last year but gained over 2 percent in March despite
the Reserve Bank of India easing policy in February and expectations for it to
do so again later on Thursday. However, those gains are expected to be
short-lived amid rising uncertainty around the national election and other
factors such as a steady increase in oil prices and a slowdown in economic
growth, dampening the currency's outlook. In the latest survey of nearly 50
strategists, taken April 1-3, the rupee was forecast to weaken about 3 percent
over the next year to 70.38 per dollar from around 68.45 on Wednesday. The
coming general elections carry a near-term risk for the currency, especially if
results are contrary to what markets expect, noted Rini Sen. However, a
comprehensive party or a coalition victory could add to the rupee's upside, in
line with its performance during past election cycles. We are mindful of the
rupee's stretched valuations, as well, which will likely deteriorate further
given recent currency strength. The currency is not expected to get support
from the RBI as it prepares for further policy easing in response to tepid
retail inflation and a slowdown in economic growth.
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GOVT PERMITS IMPORT OF FEED GRADE MAIZE AT CONCESSIONAL IMPORT
DUTY OF 15 PC FOR POULTRY SECTOR
The government Wednesday permitted
import of feed grade maize at a concessional import duty of 15 per cent with a
view to meet the shortage of the poultry feed in the country. The import of up
to one lakh tonne feed grade maize will be allowed on actual user condition. Keeping
in view the urgency, the feed grade maize is proposed to be imported under TRQ
(tariff rate quota) with certain relaxations and conditions, the Directorate
General of Foreign Trade (DGFT) said in a notice. It said applications are
invited from state trading enterprises for import of feed-grade maize (corn)
under the TRQ scheme at 15 per cent customs duty and meant only for actual
users. It added that the import for trading purpose is not allowed. This
decision was taken after the government received many representations from the
poultry sector, highlighting an unprecedented shortage of feed grade maize
mainly because of draught, pest attack and significant reduction in cultivable
areas, the DGFT said.
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TRYING TO IDENTIFY 'RG' WHOSE NAME APPEARS IN AGUSTAWESTLAND
PROBE, ENFORCEMENT DIRECTORATE TELLS COURT
Enforcement Directorate
told a Delhi court Wednesday that it was trying to identify one RG whose name
has appeared multiple times during the AgustaWestland VVIP chopper case probe.
The agency made the submissions while seeking extension of custodial
interrogation of an accused -- Sushen Mohan Gupta -- arrested in the case. ED's
special public prosecutors D P Singh and N K Matta told the court that the
agency wanted to identify one RG in whose name entries of over Rs 50 crore were
made in Gupta's diaries. The custodial interrogation of Gupta is required as he
is misguiding the probe by deliberately giving wrong explanation of
abbreviations in his diaries wherein abbreviation 'RG' finds mention in many
pages as well as pen drive data. More than Rs 50 crore shown to have been
received from 'RG' between 2004 to 2016, whereas the 'RG' identified by Gupta,
i.e., Rajat Gupta, had admitted to have cash transactions wish Sushen from 2007
onwardds and the same are being quantified, the agency told the court. The
agency submitted that Sushen said he only knew one 'RG' who was Rajat Gupta,
whereas Rajat denied the transactions which were made in the name of RG and
said he not the person being referred to.
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VVIP CHOPPER SCAM: ED SUMMONS KAMAL NATH'S NEPHEW FOR
INTERROGATION
Enforcement Directorate
informed a Delhi court Wednesday that it has summoned Ratul Puri, nephew of
Madhya Pradesh Chief Minister Kamal Nath, for interrogation in a money
laundering case related to the AgustaWestland VVIP chopper scam. ED told
Special Judge Arvind Kumar that Puri, was summoned for confronting him with
Sushen Mohan Gupta, an arrested middleman in the case, whose custodial
interrogation was today extended by three more days by the court. ED told the
court that he was required to be confronted with various people including Puri
in the case pertaining to the now scrapped Rs 3,600 crore chopper deal. Puri,
who was summoned to join the probe on Wednesday, denied having any connection
or involvement of any kind in defence or the case. ED's advocate Samvedna Verma
sought extension of Sushen's custodial interrogation by six more days, saying
that he was non-cooperative and evasive in his replies.
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CONGRESS CLAIMS RS 1.8 CR SEIZED FROM ARUNACHAL CM PEMA
KHANDU’S CONVOY HOURS BEFORE PM’S VISIT
The Congress on Wednesday
alleged that a cash for votes scam was busted in Arunachal Pradesh with the recovery
of Rs 1.8 crore in cash from Chief Minister Pema Khandu’s convoy and asked the
poll panel to register a case against Prime Minister Narendra Modi as well as
the chief minister and his deputy. Accusing the BJP of using money power to woo
voters in the northeast, Randeep Surjewala said Rs 1.8 crore was allegedly
recovered from the chief minister’s convoy in Pasighat around midnight, hours
before Modi was to address a rally there on Wednesday morning. Khandu and his
deputy Chowna Mein should be immediately sacked, he said and also sought the
termination of the candidature of Tapir Gao, the BJP’s Arunachal Pradesh
president who has been fielded from the Arunachal West Lok Sabha constituency.
Surjewala showed two videos purportedly showing the cash being recovered in the
presence of officials of the Election Commission, the local administration and
the police. Surjewala alleged the BJP is trying to hush up the matter and
sought to know whether the prime minister knew about the stacks of cash being
transferred. If yes, an FIR should be immediately filed against PM Narendra
Modi, Arunachal CM Prema Khandu and BJP’s Arunachal Pradesh President Tapir
Gao, he said.
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FUEL TAX FANTASY
The Congress’ promise of bringing
fuel under the goods and services tax (GST) if voted to power raises the hope
of a lighter burden on consumers But it may be too early for anyone to rejoice.
Going by the stance taken by state representatives of both the Congress and the
Bharatiya Janata Party (BJP), it seems unlikely that the move will see the
light of day, irrespective of which party leads the next government. In
principle, both parties claim they are in its favour, but this has proved to be
nothing more than political posturing so far. In meetings of the GST Council,
of which key ministers of all states are members, both parties have opposed any
such move. States would rather tax fuel as they see fit. After all, fuel is a
cash cow for their coffers, given that its consumption rarely ever falls as
prices rise. The states as well as the centre are guilty of milking it through
tax rate hikes. So, even if the Congress wins and tries to place it under GST,
its own state-level administrations might resist the idea. Assuming they do
fall in line with their party’s line, there would still be BJP representatives
of 20 states who are unlikely to budge. The proposal looks like a tough sell.
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I-T OFFICIALS RAID CONGRESS LEADER'S HOME IN KARNATAKA
A week after the income
tax department raided associates of top JD(S) leaders, Income Tax sleuths on
Wednesday raided the house of Mandya district Congress chief and former
minister MS Atmananda. These income tax department raids follow similar ones on
the relative of minister C S Puttaraju, and PWD contractors in Hassan, Mandya
and Shivamogga last week which triggered a massive joint protest by Congress
and JD(S) leaders in Bengaluru.
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TRUMP SLAMS INDIA, CALLS IT ONE OF THE HIGHEST TAXING NATIONS
IN THE WORLD
India is one of the
highest taxing nations in the world, US President Donald Trump has alleged as
he again slammed the country for imposing 100 per cent tariffs on American
products, including the iconic Harley-Davidson motorcycles. Such a high tariff
is not fair Trump said. I got a call from Prime Minister (Narendra) Modi of
India. They're one of the highest taxing nations in the world. They taxed us
100 per cent, Trump said reiterating his often-heard remarks on Indian tariff
structure. They charge us 100 per cent tariffs on goods. So they send a
motorcycle--and they make a lot of them--Indian cycles. They send them to our
country, we charge them nothing. We send a Harley Davidson to India and they
charge us 100 per cent. Not fair, okay. Not reciprocal. It's not fair, Trump
said. Trade talks with China are going on very well, he said. The world's two
largest economies are locked in a trade war since Trump imposed heavy tariffs
on imported steel and aluminium items from China in March last year, a move
that sparked fears of a global trade war. Trump imposed tariff hikes of up to
25 per cent on $250 billion of Chinese goods. In response, China, the world's
second largest economy after the US, imposed tit-for-tat tariffs on $110
billion of American goods. Top trade officials from America and China are
holding talks to negotiate a comprehensive trade deal. I think we're doing very
well. They need the deal more than we do. They need the deal. And they getting
hurt badly with they're paying 25 per cent on $50 billion worth of technology
stuff and they were going to pay 25 per cent on another $200 billion, he said.
Trump said his administration is fixing broken trade deals to protect the
American workers. Trump described Chinese President Xi Jinping as a king. I was
in China making a speech, Trump recounted. President Xi, who is a strong man, I
call him 'king.' He said, 'But I am not king, I am president'. I said, 'No, you
are president for life, and therefore you are king.' He said, 'Huh. Huh.' He
liked that. I call him 'king.' I get along with him great, he said. So I call
him King. I get along with them great. But I was really hitting him hard about
how they've hurt our country. And I had 5,000 Chinese people, I'm China, I'm in
Beijing doing this, can you believe it? And I'm looking down, he's getting
angrier and angrier. And then I saved it. I said, You know, I don't blame you.
I blame the leaders of our country for allowing it to happen. And it's really
true. We should never have allowed that to happen, Trump said.
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US LIKELY TO RENEW WAIVERS TO COUNTRIES IMPORTING IRANIAN OIL,
INCLUDING INDIA
The Donald Trump
Administration is likely to let a small group of countries, including India
continue buying Iranian oil after a US deadline on sanctions waivers expires in
May, say analysts. Five countries - India, China, Turkey, South Korea and Japan
which were among the eight that were allowed in November to keep importing
Iranian crude and condensate without facing penalties are now likely to be
given new waivers, according to US-based analysts Eurasia Group. The US will
probably fail to meet its goal to reduce Iranian oil exports to zero, despite
renewed talk from the White House about letting all oil import waivers expire
on May 2, a move that will limit oil exports from Iran, the fourth-largest
producer in OPEC. Given OPEC+ production cuts and conditions in Venezuela, the
oil market probably cannot absorb the loss of 1.3 million barrels per day of
Iranian crude without a significant effect on domestic gasoline prices- a red
line for US President Donald Trump, said. If waivers are renewed, countries
importing the crude oil will most likely be required to reduce purchases. In
that case, Iranian exports are likely to fall between 900,000 bpd and 1.1
million bpd on average through the May-November waiver period. Brian Hook said:
We're still currently under the existing waivers that expire on May 2. There
will be an announcement on that in due course. We are not looking to grant any
exceptions to our campaign of maximum economic pressure. As I've said in my
remarks and I've said in other forums that in 2018 we had a very tight and
fragile oil market and the President did not want to lift the price of oil. We,
I think, very carefully and correctly calibrated balancing our national
security and economic objectives. 2019 is a much better picture in global oil
markets. We forecast more supply than demand. And that creates much better
conditions for us to accelerate our path to zero, he added.
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BELT-TIGHTENING: VIJAY MALLYA MAY HAVE TO CURB WEEKLY SPENDING
OF $24,100
Vijay Mallya, the
ex-billionaire known as the king of good times in India, may have to prepare
for a bout of relative austerity as he fights multiple lawsuits against
creditors. Mallya’s lawyers told State Bank of India, which is among lenders
owed 1.142 billion pounds ($1.5 billion) by his defunct Kingfisher Airlines,
that their client is willing to cut his spending to 29,500 pounds ($38,848) a
month, SBI’s lawyers told a London court Wednesday. He is currently spending
about 18,300 pounds ($24,100) a week. The banks are seeking to seize about
258,000 pounds held in Mallya’s ICICI Bank UK Plc account. They have accused
Mallya of willfully defaulting on debts of Kingfisher Airlines, which was
founded in 2005 and folded in 2012. The U.K. resident is fighting his extradition
to India to face criminal fraud charges. Mallya, who added a portfolio of real
estate, yachts, Scotch whisky and Formula 1 racing to his United Breweries Ltd.
business over the last two decades, continues to live a lavish lifestyle,
according to a written application from SBI’s lawyers. Mallya is suffering no
real hardship as would be understood by the man on the street, the lawyers
said. He has other sources of income including a 7,500-pound monthly payment
from Kingfisher Beer Europe Ltd. and his family’s wealth, much of which is tied
up in trusts, SBI’s lawyers said. Dr. Mallya continues to do all he can to
support a court process in India which should see creditors paid off in full,
Jonathan Isaacs, his lawyer, said in an emailed statement. No one creditor
should be allowed to break rank and grab assets at the expense of all other
creditors. Dr. Mallya meanwhile lives well within the court-ordered limits and
looks forward to its conclusion in the coming months.
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NYAY FUNDS WILL COME FROM POCKETS OF ‘CHOR’ BUSINESSMEN: RAHUL
Rahul Gandhi said on
Wednesday that funds for the ambitious ‘NYAY’ scheme will come from pockets of
chor businessmen favoured by ‘Chowkidar’ Narendra Modi. Gandhi said the
Congress, if voted to power, guarantees to deposit ₹72,000
annually to 20 per cent poor Indian families under the NYAY scheme. Modi had
promised to deposit money in the accounts of people, but he has done it only in
the case of some rich businessmen like the Ambanis.
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SUBRAMANIAN SWAMY FIRES FRESH SALVO AT CONGRESS PRESIDENT,
CLAIMS RAHUL GANDHI HAS FOUR PASSPORTS
Subramanian Swamy, who is
known for attacking the Gandhi family often, has once again come out with a
sensational claim This time, the Rajya Sabha MP has claimed that the Congress
president has four passports Making this claim, Swamy said that Rahul Gandhi
has a passport with the name of Raul Vinci. He also contradicted Rahul Gandhi’s
claim saying he didn’t get an MPhil degree as he did not appear for the
Economics paper. The BJP leader also attacked ‘Janeu-Dhari’ Rahul Gandhi,
claiming that the Congress chief did not know how to wear the sacred thread. He
pointed out that Rahul Gandhi often wears his janeu over his clothes, which is
a wrong way. Claiming that Rahul Gandhi is actually Christian, Swamy further
said there is a chapel in Rahul Gandhi’s house, and that every Sunday a priest
visits there. He also claimed that Congress general secretary Rahul Gandhi is
forced to visit temples as currently there is a perception that parties
perceived to be anti-Hindus may not get votes.
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BJP DISMISSES CONG’S ‘ACHIEVABLE’ GOALS, SAYS THEY ARE
DANGEROUS
The BJP leadership questioned
the financial viability of the promises made by the Congress and termed the
manifesto as unimplementable and dangerous. The Congress, on its part, defended
the electoral promises and argued that a growing economy will provide resources
for welfare of socially and financially weaker sections. Party leaders
described the manifesto as the voice of the people and pointed out that wealth
and welfare were the central themes. Senior BJP leaders alleged that the
Congress had taken the help of sympathizers of separatists and Maoists to draft
its manifesto and the document will only strengthen those who are working
against the country. The allegations against Congress comes in the wake of its
decision to amend the controversial Armed Forces Special Powers Act (AFSPA) if
the party comes to power in the 2019 general elections. The Congress wants to
remove the sedition law. The party which makes such promises should not get
even a single vote. The move will protect terrorists and Maoists. Let this
election be contested on the issue of nationalism. The Congress president has
made unimplementable and dangerous promises and the country will not oblige him
in the elections, said Union finance minister Arun Jaitley. Former finance
minister P. Chidambaram said that the ruling BJP was not ready to discuss the
real issues but was instead making hyper nationalism an election issue. Jaitley
also asked how the Congress would raise resources for its minimum income
guarantee scheme, NYAY. The promises of the Congress cannot be believed. Former
Prime Ministers Indira Gandhi and Rajiv Gandhi had indulged in fiscal
mismanagement and the country had faced a debt trap. India was on the verge of
insolvency when Mammohan Singh became Prime Minister. The Congress now says
NYAY will be funded by the Union government and state governments, he said.
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CHIDAMBARAM SAYS BJP GOVT SITTING ON NCTC, NATGRID, MAKING
INDIA VULNERABLE
P Chidambaram Wednesday
accused the ruling BJP of making India vulnerable to terrorist attacks by sitting
on two key initiatives of the previous UPA government — the anti-terror hub
National Counter Terrorism Centre (NCTC) and the National Intelligence Grid
(NATGRID). In a series of tweets, the former home and finance minister wondered
whether the Narendra Modi government has not moved forward on the NCTC and the
NATGRID because the two initiatives were conceived and started by the Manmohan
Singh government. It is the BJP that has made India vulnerable to terrorist
attacks by sitting on two vital initiatives for 5 years. Why has NATGRID not
been operationalised in 5 years? Why has the National Counter Terrorism Centre
(NCTC) been put on the back burner for 5 years?, he asked. The idea behind
setting up of the NCTC, as a single, unified counter-terrorism agency, was
conceived by Chidambaram as the then Home minister soon after the Mumbai terror
attack in 2008, which claimed 166 lives. However, the move was opposed by
several chief ministers, including Narendra Modi as the then Gujarat chief
minister, alleging that such a structure will interfere with the functioning of
state security agencies and it would be a threat to the federal structure of
the country. Even though the central government made several efforts to evolve
a consensus by initiating talks with state governments, it received no
response. The NATGRID, once fully operationalised, will connect data providing
organisations and users, besides developing a legal structure through which
information can be accessed by law enforcement agencies. As per the plans,
initially, 10 user agencies and 21 service providers will be connected. Later,
about 1,950 additional organisations will be linked in the subsequent phases.
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112 FIRS, DD ENTRIES AGAINST POLITICAL PARTIES, OTHERS FOR
POLL CODE VIOLATION: DELHI CEO OFFICE
As many as 112 FIRs and
daily diary (DD) entries have been registered till date against various
political parties and others for violation of the model code of conduct in the
run up to the Lok Sabha polls, the poll body in Delhi said Wednesday. The statistics
surveillance team of Delhi's chief electoral office constituted to keep an eye
on the expenses of political parties, has seized Rs 1.21 crore in cash Out of
these, 13 are against the Aam Aadmi Party (six FIRs and four DD entries), 11
against the Bhartiya Janata Party (eight FIRs and three DD entries), three
against the Congress (all DD entries), one against the Bahujan Samaj Party (one
DD entry) and Samajwadi Party (one DD entry), and 83 against others or
non-political (entities), the CEO office said in a statement. The office of the
Delhi CEO said more than 2.6 lakh posters, banners and hoardings have been
removed since the poll code came into force. As many as 30,533 posters, banners
and hoardings were removed from areas under the New Delhi Municipal Council,
43,075 from East Delhi Municipal Corporation areas, 2,411 from Delhi Cantonment
Board, 90,415 from South Delhi Municipal Corporation, and 89,162 from North
Delhi Municipal Corporation areas, the statement said. Police have registered
599 FIRs and arrested 592 people under the Excise Act, it said, adding, 203
FIRs have been registered under the Arms Act in which 243 people were arrested.
They have also seized 316 unlicensed arms and weapons, and 2,354 cartridges and
explosives. As many as 44,477 people have been booked till date under various
sections of the CrPC and the Delhi Police Act. Till date, 738 bottles, 67
half-sized bottles, 86,968 quarter-sized ones of Indian Made Foreign Liquor
(IMFL) and 643 bottles, 779 half-sized and 1,64,202 quarter-sized ones of
country liquor and 4,974 bottles of beer have been seized, it said.
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JAMMU AND KASHMIR'S RELATION WITH INDIA WILL END IF TERMS AND
CONDITIONS OF ITS ACCESSION ALTERED
Mehbooba Mufti said on
Wednesday that the relation of Jammu and Kashmir with India will end if the
terms and conditions of the state's accession to the Union were changed. 2020
will also be a deadline from Jammu and Kashmir to the nation. If you remove
those terms and conditions on which Jammu and Kashmir acceded to India, our
relation with the country will also end, Mehbooba told. The former chief
minister was responding to BJP president Amit Shah's assertion that Article
35A, which guarantees special status to Jammu and Kashmir in terms of residency
rights, will be repealed by 2020.
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CLARIFY STAND ON OMAR’S SEPARATE PM FOR J&K DEMAND: AMIT
SHAH TO RAHUL
Amit Shah on Wednesday
asked Congress chief Rahul Gandhi to clarify his stand on the issue raised by
his electoral ally. The Bharatiya Janata Party (BJP) president also asserted
that his party, whether in power or in opposition, would never let such let
such a demand get fulfilled. Omar Abdullah says there should be a separate
prime minister in Jammu and Kashmir His associates are shouting pro-Pakistan
slogans and Congress is silent, Shah said.
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CONGRESS SAYS AMIT SHAH'S GANDHINAGAR RALLY VIOLATED MODEL
CODE OF CONDUCT
The state Congress on
Tuesday complained to the state's Chief Electoral Officer (CEO) against BJP
president Amit Shah for allegedly violating the model code of conduct for
holding a rally near hospitals. The BJP held a rally and road-show near Sardar
Patel statue cross-road in Naranpura before Shah went to Gandhinagar for filing
his nomination papers for Gandhinagar Lok Sabha seat on March 30. The Congress
alleged in the complaint that three big hospitals, with emergency and trauma
care wards, exist near the crossroad, and holding a rally around such an area
was a violation of model code of conduct. How can permission for using
loudspeakers be given in the vicinity of hospitals, where so many patients are
undergoing treatment, state Congress spokesperson Manish Doshi, said. In a
letter to CEO S Murali Krishna, Doshi alleged that traffic was stopped on
public roads all of a sudden for the road-show without the police commissioner
issuing any notification or public circular. These are serious lapses. The
administration has ignored its functions, and there is a clear violation of
model code of conduct. A complaint should be filed against the BJP candidate,
he demanded.
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CONGRESS HAS DNA OF MAXIMUM CORRUPTION, CONSIDERS POVERTY
POLITICAL PROPERTY: NAQVI
Mukhtar Abbas Naqvi on
Wednesday said the party which has a DNA of maximum corruption is talking about
giving minimum income to the poor. Naqvi, alleged that the Congress and the
SP-BSP want to make a coalition of crime in Uttar Pradesh. Naqvi said those who
failed in the Congress-SP alliance in UP Assembly polls, are now undertaking
the acid test through the SP-BSP alliance. But neither their chemistry nor
their physics match, Naqvi was quoted as saying by a statement from his office.
This alliance will also fail disastrously, the minority affairs minister
claimed. The Modi government has worked with a commitment to economic
empowerment of the poor, he said. The Congress, which has a DNA of maximum
corruption, is now talking about minimum income, he said, slamming the
opposition party. The entire country knows Modi is the perfect prime minister
for the progress, prosperity and safety of the country Naqvi said.
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GOA LOKAYUKTA EXAMINING POSSIBILITY OF SUO MOTU
DISPROPORTIONATE ASSETS COMPLAINT AGAINST CM
Goa Lokayukta Justice
(retd.) P.K.Misra is examining if the documents submitted by activist lawyer
Aires Rodrigues pertaining to the alleged disproportionate assets accumulated
by Chief Minister Pramod Sawant could be taken as a suo motu complaint sources
in the Lokayukta Secretariat confirmed to The Hindu on Wednesday. Mr. Rodrigues
on Monday had placed before the Lokayukta a copy of the documents obtained by
him from the Anti-Corruption Branch (ACB) under the Right to Information (RTI)
Act pertaining to the February 20, 2017 complaint filed by Sudip Tamhankar, a
local RTI activist against then MLA Pramod Sawant. Mr. Sawant was the Chairman
of the State-owned Goa State Infrastructure Development Corporation (GSIDC),
and the complaint alleged that he had acquired disproportionate assets,
accusing him of cheating, criminal breach of trust and criminal conspiracy. Sources
in the Lokayukta Secretariat on the condition of anonymity said that the
complaint by Mr. Rodrigues is not in the appropriate form but just forwarded
all the documents obtained by Mr. Tamhankar through RTI. As the said document
cannot be taken as a complaint, the Lokayukta is examining the documents to see
if it could be taken up as a suo motu case. Amongst the properties purchased by
Pramod Sawant’s partnership firm was land measuring 16,480 sq.m. in Bordem at
Bicholim for ₹1.31 crore and another 19,989 sq.m. also at Bordem for an
amount of ₹1.23 crore.
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SONIA GANDHI UNHAPPY OVER CONGRESS MANIFESTO LAYOUT
UPA Chairperson Sonia
Gandhi was apparently unhappy over the layout of party manifesto released on
Tuesday as she wanted a bigger picture of party President Rahul Gandhi on the
cover, sources said on Wednesday. Sonia Gandhi, who did not look her usual
self, conveyed her viewpoint to party leader Rajeev Gowda, the convener of the
manifesto committee, before she went to the stage to release the manifesto. Sonia
Gandhi was seen talking to Gowda, who also heads the party's research
department. She apparently also wanted a bigger image of party's hand symbol as
also a brighter layout. The manifesto -- Congress will Deliver -- carries a
large picture of a big gathering of people. At the bottom, it has a small
picture of smiling Rahul Gandhi along with the party's hand symbol. There is
also big picture of the party President sitting among rural women on Page 9 of
the manifesto. The slogan Congress will deliver is written in large font size,
while the words Manifesto - Lok Sabha elections 2019 Indian National Congress
are in smaller fonts at the bottom. Sonia Gandhi did not take any questions at
the manifesto launch event on Tuesday and was seen intermittently talking to
Rahul Gandhi sitting next to her. Rahul Gandhi had suggested that party
spokesperson Randeep Singh Surjewala let the media ask questions to other
senior leaders on the stage. Surjewala, however, said that the reports of Sonia
Gandhi being upset were not correct. It is not correct, he said.
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SETBACK FOR HARDIK PATEL: SC REFUSES URGENT HEARING ON PLEA
CHALLENGING HC ORDER
The Supreme Court Tuesday refused
to accord urgent hearing to Congress leader Hardik Patel’s plea challenging the
Gujarat High Court order which rejected his plea to stay his conviction in the
2015 Vispur rioting case. The matter was mentioned for urgent listing before a
bench headed by Justice Arun Mishra. The bench also comprising Justices M M
Shantanagoudar and Navin Sinha told the counsel appearing for Patel that there
was no urgency in hearing the matter as the high court order was passed in
August last year.
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PM CRITICISES BENGAL CM FOR STALLING CENTRAL SCHEMES
Prime Minister Narendra
Modi chose to toe a fine line between criticism of West Bengal Chief Minister
Mamata Banerjee and nationalism at his rally in Siliguri, 600 kms from Kolkata.
Calling Banerjee a ‘speedbreaker to development’, Modi criticised her brand of
politics as ‘anti-poor’. Obviously, Modi’s pet schemes like the Ayushman Bharat
health scheme and the PM Kissan Samman Yojana - cash benefits to farmers - were
cited as prime instances as ones that the ruling Trinamool Congress was not
implementing here in West Bengal. Development projects could have been speeded
up here in Bengal. But you have a speed breaker Didi. What does she do? Slams
break on development projects here in the State,’ Modi said. The Mamata
Banerjee government wants the poor to remain in poverty so as to further its
political ambitions, he alleged. Moreover, it has adopted a stand of objecting
to Central policies thereby inconveniencing the common man. Ayushman Bharat is
not implemented here. Why? Do you not want the poor to get treatment? the Prime
Minister further questioned. It was only a matter of time before he switched
over to the nationalism narrative. Didi sitting in Kolkata was more pained by
Balakot air-strikes. Even her companions and so called allies felt bad because
of the air-strikes. And, they became heroes in Pakistan, Modi said.
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US MOVE TO BLACKLIST AZHAR AT UNSC COMPLICATES ITS RESOLUTION,
SAYS CHINA
China on Wednesday hit out
at the US for threatening to use all available resources to designate
Pakistan-based JeM chief Masood Azhar as a 'global terrorist', saying
Washington's move is complicating the issue and not conducive to peace and
stability in South Asia. After China put a hold on a French proposal to list
Azhar under the 1267 Al Qaeda Sanctions Committee of the Council, the US on
March 27 circulated a draft resolution to the powerful 15-nation Council to
blacklist Azhar and subject him to a travel ban, an assets freeze and an arms
embargo. The US on Tuesday reportedly said it will utilise all available
resources to ensure Jaish-e-Mohammad founder Azhar, was held accountable. The
State Department was responding to China criticising the US, France and the
United Kingdom for moving a draft resolution at the UNSC as not a constructive
move and that it set a bad example. China, on Monday criticised the US for
directly taking the issue of listing Azhar as global terrorists to UN Security
Council after it had put a technical hold on the US, UK and French resolution
earlier to declare him a global terrorist in the UN's 1267 Sanctions Committee
dealing with counter-terrorism issues. On Monday, Geng claimed positive
progress has been made to resolve the vexed issue and accused the US of
scuttling its efforts. On Wednesday, the Chinese Foreign Ministry spokesman
said vast majority of the UNSC members believe that efforts should be made
under the 1267 Sanctions Committee to solve this designation through dialogue
and consultation instead of pushing the draft resolution at the UNSC. China
will continue to adopt constructive and responsible attitude to participate in
discussions and deliberations on the designation issue, he said. We hope this
issue will finally be resolved properly, he said.
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A US REQUEST TO EXTRADITE NIRAV MODI MAY SEND HIM BACK TO
INDIA INSTEAD
The United States may try
to stake claim for fugitive Nirav Modi's extradition from the UK so that he can
be charged under the stringent Racketeer Influenced and Corrupt Organizations
(RICO) Act in an American bankruptcy court. This move may prompt the Indian
diamond merchant who is behind bars in London not to contest his extradition
back home since he faces a stiffer punishment in the US. In February 2018,
three companies linked to Nirav – Firestar Diamond International, A Jaffe and
Fantasy Inc – filed for bankruptcy protection in the United States of America (USA).
However, earlier this week the bankruptcy court has charged him and two of his
associates- Mihir Bhansali and Ajay Gandhi, -top executives of the three
bankrupt US companies, under the Racketeer Influence and Corrupt Organisations
Act (RICO Act), which is a United States Federal Law designed to combat
organised crime, and has been famously used to prosecute members of the fabled
5 Mafia families of New York city and other Italian mafia families across
America. The court accused them of breach of fiduciary duty, aiding and
abetting breach of fiduciary duty, corporate waste, and violations of the RICO
Act. The conviction under the RICO Act could see Modi and his two associates
facing up to 20 years in prison and an award of treble damages plus attorney’s
fees. A US statute allows a court to triple the amount of damages that a
defendant must pay to a plaintiff. Reports quoting Enforcement Directorate
officials said in such a scenario Nirav Modi may not contest India’s
extradition request as aggressively as he is now.
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AGUSTAWESTLAND SCANDAL: ROLE OF MORE INDIVIDUALS UNDER THE
SCANNER; IDENTIFYING MYSTERIOUS RG, ED TELLS COURT
The Enforcement
Directorate (ED) claims to have unearthed the involvement of several persons
linked to the VVIP chopper scandal. The agency has issued summons to more
individuals for questioning, of which two have been hospitalised after receipt
of summons, thwarting the pace of investigation, it said today. Seeking further
custodial interrogation of defence agent Sushen Mohan Gupta, the agency today
claimed that it’s investigation has revealed names of several persons linked to
the case. ED has said that Sushen is misleading the agency with regard to
abbreviations maintained in documents procured from accused turned approver
Rajiv Saxena. One such abbreviation is RG. While Sushen has claimed that the
said RG is one Rajat Gupta, Director of Ram Hari Ram Jewellers. When confronted
by ED, Rajat has denied concern with the said abbreviation. In his statement to
ED, Rajat has said I have no concern with the abbreviation RG and only Sushen
can explain. ED confronted Sushen with Rajiv Saxena (approver) on April 2 and
will be confronting him with co-accused lawyer Gautam Khaitan in Tihar jail.
The agency, in the remand paper, has also given names of ten individuals who
were confronted with Sushen.
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EC SERVES NOTICE TO U.P. CM YOGI ADITYANTH FOR ‘MODI JI KI
SENA’ REMARK
The Election Commission of
India (ECI) on Wednesday served a show cause notice to Uttar Pradesh Chief
Minister Yogi Adityanath for his remarks, describing the armed forces as Modi
ji Ki Sena. The Chief Minister has been asked to furnish his response by
Thursday, said an U.P. election official. At a rally in Ghaziabad on March 31,
Mr. Adityanath had targetted the Congress saying that it served biryani to
terrorists, while Mr. Modi’s forces treated them with bullets and bombs. He
said the Congress leaders used Ji for terrorists like Masood Azhar, but the
BJP-led government was destroying their camps under the Prime Minister’s
leadership.
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WILL JAIL ELECTION COMMISSION FOR TWO DAYS IF VOTED TO POWER:
PRAKASH AMBEDKAR
Bharipa Bahujan Mahasangh
chairperson and grandson of BR Ambedkar, Prakash Ambedkar, on Thursday came
into spotlight for threatening to take action against the Election Commission
of India (ECI) if his party is voted to power. Ambedkar called the Election
Commission biased and slammed the organisation for directing political parties
to not talk about the terror attack in Pulwama. I would like to know why we are
not allowed to talk about the Pulwama terror attack when it is permitted under
Constitution. Let our government come to power, we will not spare the Election
Commission. We will keep them in jail for two days. The Commission is no more
neutral. It is functioning as a BJP aide, he said.
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STAY ON PM MODI'S BIOPIC: SC AGREES TO HEAR CONGRESS LEADER'S
PLEA ON APRIL 8
The Supreme Court Thursday
agreed to hear on April 8 a Congress leader's plea seeking stay on release of a
biopic on Prime Minister Narendra Modi. A bench headed by Justice S A Bobde
said it will hear the plea on Monday. Senior advocate A M Singhvi, appearing
for petitioner advocate Aman Panwar, spokesperson of the Congress, said two
high courts have refused to interfere with the release of the movie starring
Vivek Oberoi. He submitted that the release of the movie may affect free and
fair election as mandated in the Constitution. Singhvi said the movie was
slated to be released on April 5 but there were some media reports Thursday
which said the release has been deferred by a few days. The Indore bench of the
Madhya Pradesh High Court had on Wednesday rejected a plea seeking ban on the
release of the movie, 'PM Narendra Modi'.
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ORIGINAL PROMOTER OF NAMO TV DENIES RUNNING CHANNEL ON PM MODI
ANYMORE
One of the original
promoters of a company that first aired NaMo TV, a channel dedicated to Prime
Minister Narendra Modi, has said that he or his company isn't involved in
running the channel anymore NaMo TV beamed on major direct-to-home networks
Sunday. We were earlier involved with NaMo TV. We are not running it anymore,
Sujay Mehta told. Mehta was asked when and to whom he transferred operations of
NaMo TV. He replied, I am not involved anymore. I do not know anything. While
NaMo TV’s funding and ownership is still not clear, Narendra Modi’s official
mobile application has a link to NaMo TV which carries content related to him
including his speeches and other promotional material. The developer of the
application hasn’t been specified but the address in the application
information section has been specified as the BJP’s headquarters in Delhi’s
Deen Dayal Upadhyay Marg.
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ED IDENTIFIES GAUTAM KHAITAN’S SIX UNDECLARED SINGAPORE
ACCOUNTS
The Enforcement
Directorate (ED) claims to have identified six undeclared foreign bank accounts
in Singapore maintained by Gautam Khaitan in Singapore. In its charge sheet
filed, on charges of Black Money, last month , the agency has claimed that
Khaitan created structures viz companies which are under his control to launder
the proceeds of crime related to criminal activities. Of these proceeds of
crime, he generated funds for himself and used them to create assets for
himself, the 1500 page charge sheet. His assets so generated have been
transferred to the accounts and or other foreign accounts or applied to create
assets. He has not transferred the funds received abroad in his accounts back
to India, the charge sheet states.
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CHINA OUTLINES FRESH TAX CUTS TO LIFT ECONOMY
China has unveiled tens of
billions of dollars worth of tax and fee cuts as part of a drive to kickstart
the stuttering economy, extending pledges worth USD 300 billion announced last
month. With growth at a two-decade low and the economy struggling under the
weight of the US trade row and a soft global outlook, leaders are looking to
grease the cogs by getting the country's vast army of consumers to start
spending. The State Council, or cabinet, said late Wednesday it would reduce
electricity and internet costs, port and railway charges and a variety of fees
for individuals and businesses to cut their annual burdens by about 300 billion
yuan (USD 45 billion). For businesses, the government will lower average
electricity fees by 10 percent and cut broadband fees for small- and
medium-sized businesses by 15 percent, the official Xinhua news agency
reported. It will also cut trademark registration fees, the State Council said.
For individuals, China will cut a variety of bureaucratic red tape like fees on
postal imports, real estate registration, passport issuance and mobile internet
rates. Tax and fee cuts are our key measures to tackle the downward economic
pressure this year, said Premier Li Keqiang, according to Xinhua.
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MADRAS HIGH COURT DIRECTS CENTRE TO PROHIBIT TIKTOK DOWNLOAD
The Madurai Bench of the
Madras High Court has directed the Central Government to prohibit the download
of Chinese video share mobile application Tik Tok on grounds that it serves as
a platform for the distribution of explicit and inappropriate content likely to
harm children. A division bench comprising justice N and justice SS Sundar have
also directed media organizations in the interim order to not telecast the
videos made using the Tik Tok mobile app., besides directing the Centre to
respond on whether a legislation similar to the Children’s Online Privacy
Protection Act, as in the US, can be brought in India. It is said that Tik Tok
App., is mostly played by the teenagers and young people and it has proved to
be an addictive one. By becoming addicted to Tik Tok App., and similar Apps.,
or cyber games, the future of the youngsters and mind set of the children are
spoiled, the court observed in its interim order delivered on Wednesday. The
petition, which has sought the banning of Tik Tok, has been posted for further
hearing on April 16.
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GOVT MAY BLACKLIST TATA MOTORS FOR DELAY IN DELIVERY OF
E-BUSES: REPORT
The government may blacklist
Tata Motors for delaying delivery of e-buses to transport departments of six
cities. The automobile major might have failed to deliver the buses on time due
to battery issues and delays in manufacturing. In all, Tata Motors was to
supply 62 per cent of the total bus requirement across 10 cities. The company
has delayed deliveries in all these cities. The Department of Heavy Industries
sanctioned 1440 crore to 11 states in December 2017 for the procurement of
electric buses, electric taxis and e-autos as a pilot project under FAME. The
transport departments now risk losing the subsidy if it is not claimed in time.
Now the states have to decide the action against the company. Some states have
levied liquidated damages on the company, a government official aware of
developments told.
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ISRO TO LAUNCH 5 MILITARY SATELLITES THIS YEAR TO BOOST
'STRATEGIC ASSETS IN SPACE'
Starting 2019 with the
liftoff of two surveillance satellites for Defence Research and Development
Organisation (DRDO), one of which was used as a target for the A-Sat missile
test , Indian Space Research Organisation (Isro) is gearing up to launch a slew
of advanced military satellites this year that will enhance surveillance capabilities
of security forces and boost the country’s strategic assets in space. Isro is
scheduled to launch four new series Risat satellites and an advanced Cartosat-3
satellite. The images from old Risat-series satellites were used to plan the
surgical strike in 2016 and the air strike on a Jaish camp in Pakistan’s
Balakot this year. In the past, the space agency had launched one or two
military satellites a year but its focus has now shifted towards boosting
defence assets in space amid heightened tension along the Pakistan border and
increased Chinese naval activities in the Indian Ocean. K Sivan told, We are targeting
to launch 33 missions including satellites and rockets, this year. In the
middle of May, PSLV-C46 rocket will launch Risat-2B and thereafter in the
fourth week of June, PSLV-C47 will launch Cartosat-3. Cartosat-3 is the
advanced version with the capability to zoom up to a resolution of 0.2 metre
(20 cm), which is considered the best in the world. The resolution of
Cartosat-3 will be so refined that it will be able to capture clear images of
very small objects like a gun or an enemy bunker. The old Cartosat-2 series
satellites had a resolution of only up to 0.5 metre. Sivan said Risat-2BR1 will
be launched in July, Risat-2BR2 in October and Risat-1A in November. Risat-2B
series is a lighter version of the spy satellite with an X-band synethic
aperture radar that can penetrate clouds and zoom up to a resolution of 1
metre. The Isro chief said, In September, we are going to launch a new series
of remote-sensing satellite Geo-Imaging Satellite-1 (Gisat-1) and Gisat-2 in
November. Gisat will carry a geo-imager with multi-spectral (visible, near
infra-red and thermal), multi-resolution (50m to 1.5 km) imaging instruments
that will enhance the country’s land mapping capabilities. Gisat has both
military and civilian use. Till now, old imaging satellites could map a
particular area only once in 22 days. With Gisat, military can scan or map an
area every other day. The satellite will provide near real-time pictures of
large areas of the country under cloud-free conditions. Besides military
satellites, Isro is also planning to launch high-profile Chandrayaan-2 mission
and first demonstration test of the mini-PSLV or SSLV this year. Advanced
communication satellites like Gsat-20, Gsat-30 and Gsat-32 will also be
launched by early next year. Gsat-32 will replace Gsat-6A, which was lost in
space after the successful launch due to a communication failure and was meant
to mainly serve ground forces.
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
Thanks & Regards,
CS Meetesh Shiroya
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