I-T DEPT LOOKING AT IBC RESOLUTION CASES FOR POSSIBLE TAX
VIOLATIONS
The Income Tax Department
has sought details of the status and identification of creditors and debtors
under the Insolvency and Bankruptcy Code (IBC) to investigate possible tax
violations Senior IT officials told that the Mumbai Office of the Director of
Intelligence and Criminal Investigation has been in touch with the National
Company Law Tribunal (NCLT) seeking minute details of the parties in all such cases
where it believes that tax violations may have happened. The information on
Resolution Professionals (RPs) associated with the cases have also been sought.
The information provided by the NCLT to the Income Tax Department is under
section 133 (6) of the Income Tax Act. Under section 133 (6), department
officials are empowered to seek information from any person, banks, companies
and other institutions, which could be useful for an inquiry under the Act, the
official said. The officials said the attention of the department has been
drawn to cases, where upfront large sums of money have been paid to the
creditors for settling some of the claims. The cases where the debts have been
converted into equity capital are also been looked into. The pan numbers of creditors
and IT circles in which they file their taxes are also being examined for
further action. The interconnectedness between the IT Act and the IBC is also
being looked into by the tax authorities, so as to check whether they are
secured creditors under the IBC.
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I-T FINDS RS 12 LAKH CRORE MISMATCH IN ITRS DECLARED IN FY
2016
The indirect tax
department has detected a mismatch of Rs 12 lakh crore between the income
declared in income-tax returns (ITR) on account of services and the value of
these services declared in the corresponding service tax details in FY16. The
mismatch amount is nearly six times the service tax collected in the fiscal. A
similar exercise is under way for FY17 as well. It is believed this is also a
reason for the shortfall in goods and services tax (GST) collections in FY18
and FY19. While the government had projected Rs 13.4 lakh crore of GST
collections in FY19, it could collect only Rs 11.8 lakh crore. A big reason for
not being able to catch such tax evasion is due to the fact that the government
has not, so far, implemented the invoice-matching feature of GST. The Central
Board of Indirect Taxes and Customs (CBIC) has directed zonal heads in the
department to probe the anomaly. CBIC collected ITR data from the direct tax
department to analyse possible leakages in the service tax regime, which was
subsumed under GST in FY17-18. It has also finished an a similar analysis for
FY16-17, and has sent the reports to respective zones. The difference in
declared amounts were detected on the basis of permanent account number of ITR
filers. CBIC said some PANs from ITRs were not registered in the service tax
assessee registry while many registered ones hadn’t filed service tax returns.
In some cases there is simply a value mismatch between the turnover declared in
the ITR and the service tax returns, the chairman said in a letter to field
formations. Admitting that the mismatched amount thrown by the analysis was
surprisingly large, a revenue official said one possibility was that ITR forms
earlier didn’t have detailed fields for reporting indirect tax details. This
was tweaked by the government last year when it included mandatory fields for
detailed GST-related information. This would make the exercise for the GST
period a more accurate. Another reason, the CBIC chairman said was the
possibility of missing service tax returns, as well as the possibility that
services that are exempt from tax were not being declared in the service tax
returns. However, you would agree that the sheer magnitude of the mismatch is a
pointer to the possibility of revenue leakage which cannot be ignored, the
chairman said.
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TAXMAN TO GO AFTER 65,000 NON-FILERS FOR 2016-17
The Income Tax Department
will initiate recovery of tax along with penalty from approximately 65,000
assessees who deposited ₹10 lakh or more in their bank account during demonetisation,
but did not file return for the assessment year 2017-18 (financial year
2016-17). These 65,000 plus are part of nearly 3 lakh non-filers with large
deposit. After getting notice from the tax department, nearly 2.1 lakh filed
their return by March 31, 2018, while other nearly 25,000 only responded after
that. According to a senior Finance Ministry official, tax authorities used its
means to approach remaining 65,000 non-filers. Even notices pasted on the wall
of premises of last available address, but there is no response yet. Meanwhile,
based on past record, tax officials completed assessment of these assessees and
now process to be initiated for recovery, he said. He explained that the
process of recovery can be distributed in two parts. First part will involve
concerned Assessing Officers and he/she will make effort to recover tax due
along with penalty. If there is no success within a year, part two of the
process will start, and task to recovery will be passed on to Tax Recovery
officer (TRO). TRO will first serve a notice to the defaulter requiring him/her
to pay the amount specified in the certificate within 15 days from the date of
service of the notice and intimating that in default steps would be taken to
realise the amount. If the amount mentioned in the notice is not paid within
the time specified therein or extended time, if given, then TRO will proceed to
realise the amount by one or more of the following modes - by attachment and
sale of the defaulter’s movable property, by attachment and sale of the
defaulter’s immovable property, by arrest of the defaulter and his detention in
prison or by appointing a receiver for the management of the defaulter’s
movable and immovable properties. The official said that even at a basic system
of tax dues and penalty and assuming deposit of ₹10 lakh, average amount
recoverable could be ₹6.5 lakh per tax payer (tax at the rate of 30 per cent plus
cess at 4 per cent and 100 per cent penalty). It may be noted that an attempt
to reduce tax liability through under-reporting or misreporting of Income will
invite penalty under Section 270A (1). Penalty amount equals to 50 per cent of
income that is underreported or tax payable. In case of deliberate
under-reporting, the penalty could go up to 200 per cent of underreported or
tax payable income. Similarly, for concealing of Income or furnishing
inaccurate details penalty under Section 271(1)(c), amounting to 100 per cent
to 300 per cent of the tax evaded or meant to be evaded additionally to the tax
payable.
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DIRECT TAX COLLECTION MAY FALL SHORT OF RS 50,000 CR IN FY'19:
OFFICIAL
The government has fallen
short of Rs 50,000 crore in its direct tax collection target of Rs 12 lakh
crore for 2018-19, said a senior finance ministry official Tuesday. The shortfall
in direct tax mop-up coupled with lower Goods and Services Tax (GST)
realisation may have implications on fiscal deficit, which the government has
pegged at 3.4 per cent of the GDP. Direct tax collection for 2018-19 is around
Rs 11.5 lakh crore, the official said. The government had revised the direct
tax collection target upwards to Rs 12 lakh crore from the original Budget
Estimate of Rs 11.5 lakh crore for 2018-19. It was expecting higher collections
from corporate taxes. The revision was made during the interim Budget for
2019-20 in February.
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BJP’S MANIFESTO BETTER FOR TRADERS: CAIT
The Confederation of All
India Traders (CAIT) on Tuesday said the BJP’s manifesto is far ahead of the Congress’in
terms of addressing the issues of traders. According to the CAIT, the BJP’s
commitment to providing pension to traders over the age of 60 and ₹10
lakh-worth accident insurance to traders registered under the GST addresses
their long-standing demands. The traders’ body also lauded the BJP’s promise to
set up a National Traders Welfare Board and a National Policy for Retail Trade.
The traders’ body also said that the Congress’ promise to replace the current
GST with a uniform tax rate for all commodities is not easily possible and will
create disparities and anomalies, especially affecting the weaker sections. The
CAIT also said it has been conducting a national campaign for the past three
months to convert seven crore traders into a vote bank to play a decisive role
in the upcoming Lok Sabha elections.
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SETBACK FOR MODI GOVT, SC SAYS 'STOLEN' RAFALE DOCUMENTS
ADMISSIBLE IN THE COURT
In what could be a major
setback for the government, the Supreme Court has struck down the Centre’s
objections to petitions seeking review of the earlier judgment giving it a
clean chit on the Rafale deal. A three-judge bench of the top court ruled in
favour of allowing the use of stolen documents. The court further said that
review petitions against its December 14 verdict dismissing all petitions
against procurement of Rafale jets will be decided on merits. The court
basically dismissed Centre's objection claiming privilege over documents used
by petitioners to seek review of Rafale judgement.
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I-T RAIDS: ELECTION COMMISSION DISPLEASED WITH CBDT, REVENUE
DEPARTMENT
The Election Commission of
India is learnt to have conveyed its displeasure to CBDT chairman PC Mody and
revenue secretary AB Pandey that the poll panel machinery was not informed
about the recently conducted income tax raids in good time. Further, it has
also expressed disappointment over the revenue department’s official response
to the poll panel’s advisory to enforcement agencies on maintaining neutrality
The revenue department’s response to the EC advisory on Monday is learnt to
have raised eyebrows because its tone and tenor suggests it did not seem to
adequately acknowledge the seriousness of the concerns flagged by a
constitutional body like the EC.
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SC ALLOWS LEAKED DOCS IN RAFALE REVIEW PETITION, REJECTS
CENTRE'S OBJECTION
In a blow to the Narendra
Modi-led NDA government, the SC dismissed its objections and held that leaked
documents in the Rafale case will be admissible in review petitions This was a
unanimous verdict. The SC said that the petitions will be dealt with on merit.
The petitions had been filed against the SC's December 14 judgement refusing to
order probe in procuring 36 Rafale fighter jets from France. The apex court
dismissed Centre's preliminary objections seeking review of earlier judgment
giving clean chit to the Union Government in Rafale deal. Reacting to the
verdict, petitioner Arun Shourie said Centre's argument meant no wrong can be
done in the defence deal. We are delighted at unanimous verdict dismissing
Centre's argument on admissibility of documents, he said. The Centre had
submitted that the privilege documents were procured by petitioners in an
illegal way and used to support their review petitions against the December 14,
2018 judgement of the apex court dismissing all pleas challenging procurement
of 36 Rafale fighter jets from France. We dismiss the preliminary objection
raised by Union of India questioning the maintainability of the review
petition, a bench comprising Chief Justice Ranjan Gogoi and Justices S K Kaul
and K M Joseph said. The top court said review petitions against its December
14 verdict dismissing all petitions against procurement of Rafale jets will be
decided on merits. The apex court said it will fix a date for hearing review
petitions.
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BRITAIN'S ECONOMY RISKS A SERIOUS SHOCK IF UK LEAVES EU
WITHOUT DEAL: IMF
Britain's economy risks a
serious shock if the UK leaves the EU without a deal the International Monetary
Fund said Tuesday, warning of severe trade disruption and slower economic
growth. In a report marking the coming spring meeting, published just days
before the scheduled Brexit date of Friday, the IMF looked at the impact of
possible no deal scenarios. In the worst-case situation, the fund assumes that
a disorderly break between Britain and its largest trading partner would bring
border disruption, raising import costs for businesses and households in
Britain. It estimates that the trade disruptions in that scenario would cause a
decline in Britain's gross domestic product (GDP) of 1.4 percent in the first
year, and 0.8 percent in the next. The European Union would not be immune from
the impact, although it would be less severe, with the bloc's GDP falling 0.2
and then 0.1 percent. The IMF adds that the total impact would be a decline of
3.5 percent of British GDP between now and 2021 and 0.5 percent for the EU. The
fund notes however that it cannot predict all the effects of a no deal Brexit,
or all the mitigating measures that might be taken. The no deal scenarios
assume that, in the absence of a new trade agreement, British exports to the EU
revert to being subject to World Trade Organisation (WTO) rules. This would see
tariffs increase, while Britain would also lose access to trade agreements
struck between the EU and other countries. The IMF estimates are also based on
published British plans to dramatically slash tariffs on imports from the EU. Even
if there is a Brexit deal, the IMF is more pessimistic about the British
economy for the next two years than it was in January. It estimates an increase
in GDP of 1.2 percent this year, rising to 1.4 percent in 2020. Previous
projections unveiled at Davos predicted growth of 1.5 and 1.6 percent. The IMF
report comes at the start of a decisive week, where EU leaders will decide at a
Brussels summit on Wednesday whether to agree to London's request to delay
Brexit day. If they fail, or if Prime Minister Theresa May refuses to accept
whatever they offer, Britain is on course to leave on Friday without a deal.
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VIJAY MALLYA LOSES YET ANOTHER ROUND, MOVES CLOSER TO
EXTRADITION
THE MOVE to bring Vijay
Mallya back to India has taken another step forward, with the UK High Court
rejecting the fugitive businessman’s written application seeking permission to
appeal against his extradition order in connection with a money-laundering case
of Rs9,000 crore. Mallya’s plea was rejected by Justice William Davis on April
5, and he now has five business days to apply for oral consideration of his
appeal, according to a UK judiciary spokesperson. The next step involves a
brief oral hearing. During the hearing, Mallya’s legal team and the Crown
Prosecution Service, representing the Indian government, can renew their
respective claims to determine if the matter should proceed for a full hearing.
The process can take well over a month to conclude, said sources familiar with
the development. If the UK High Court turns down Mallya’s oral application and
approves his extradition, Mallya can make a representation to the UK Home Secretary
to prevent extradition on the grounds of human rights within 14 days of the
order.
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COMMERCE MINISTRY RECOMMENDS USD 1,633 PER TONNE ANTI-DUMPING
DUTY ON INDONESIAN SWEETENER
The commerce ministry has
recommended an anti-dumping duty of USD 1,633.17 per tonne on Saccharin, a kind
of sweetener, from Indonesia to guard domestic manufacturers from cheap imports
from the Southeast Asian country. The ministry's investigation arm - Directorate
General of Trade Remedies (DGTR) - has conducted the probe of alleged dumping
of this product following a complaint from Swati Petro Products Ltd. The
directorate has concluded in its findings that the product has been exported to
India from Indonesia below their normal values, due to which the domestic
industry has suffered material injury. The authority recommends imposition of
definitive anti-dumping duty so as to remove the injury to the domestic
industry, it said. The final call to impose the duty would be taken by the
finance ministry.
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PM MODI SLAMS RAHUL GANDHI ON NYAY, SAYS CONGRESS’ SCHEME
ACCEPTANCE OF 60 YEARS OF INJUSTICE
Prime Minister Narendra
Modi has launched a stinging attack on the Congress over Rahul Gandhi’s
ambitious minimum income guarantee scheme, saying that the party’s NYAY or
Nyuntam Aay Yojana is actually an acceptance of the ‘injustice’ that they have
done in the past decades. PM Modi lashed out at the main Opposition party over
their 2019 poll slogan ‘Ab Hoga Nyay’ and asked whether the party intends to
give justice to victims of 1984 anti-Sikh riots and Bhopal gas tragedy too.
Their (Congress) main slogan for election is ‘ab hoga nyay’. This means that
they agree that in 60 years of their rule they have done ‘anyay’ (injustice),
Modi said. So knowingly, unknowingly they have admitted that they have done
injustice for 60 years in power. When they talk about NYAY, what about justice
for the victims of the 1984 anti-Sikh riots? What about nyay for the victims of
triple talaq? What about the farmers of Chhattisgarh, Rajasthan and Madhya
Pradesh who were promised loan waivers? You promised them justice in 10 days.
It has been 100 days now, he went on to add.
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RAJNATH SINGH REJECTS POLITICAL VENDETTA CHARGE DAY AFTER
INCOME TAX RAIDS AT KAMAL NATH’S KIN
A day after Income Tax
raids were conducted at premises linked to the relatives and aides of Madhya
Pradesh CM Kamal Nath, Home Minister Rajnath Singh on Tuesday rejected the
Congress party’s accusation of political vendetta, saying the government has
nothing to do with it. Rajnath said it will be unfair to blame the government
for this as agencies probing these cases may have some credible information.
Government should not be blamed. It will not be fair to the government. This is
a continuous process. Maybe agencies have some information. But it will be
wrong to say these raids were conducted under instructions, he said.
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CITING PULWAMA AND PARLIAMENT ATTACKS, PRESIDENT KOVIND
PRAISES VALOUR, SACRIFICE OF SECURITY FORCES
Citing the Pulwama terror
attack, President Ram Nath Kovind Tuesday praised the valour and sacrifice of
security forces in protecting the country and its citizens. Forces such as the
Central Reserve Police Force (CRPF) have been playing a pivotal role in
checking separatism and terrorism in Jammu and Kashmir, he said. The valour and
bravery with which CRPF personnel faced the terrorists, who attacked the
Parliament (in 2001), have become part of the legend of the country’s security
forces. CPRF personnel have played an appreciable role in checking separatism
and terrorism in Jammu and Kashmir, he said. The service marks the annual
‘Valour Day’ of the CRPF which remembers the gallant fight back by its
personnel at the Sardar post in Gujarat’s Rann of Kutch against Pakistani troop
on this day in 1965. The president paid tributes to police and paramilitary
personnel killed in the line of duty, including the 40 CRPF jawans who lost
their lives in the February 14 Pulwama terror attack. Kovind said a pall of
gloom had descended on the country after the Pulwama attack. People queued up
to pay their respect to their (the CRPF personnel) sacrifice. I on behalf of
the whole nation paid my deepest respect in remembrance of those brave hearts,
he said. Police personnel have always been alert and active to ensure the
safety of the people, and have shown extraordinary commitment towards the
nation, he said. This is for the first time that the president has visited the
memorial located at Chanakyapuri here. Kovind, the supreme commander of the
armed forces, was accorded a national salute and presented a guard of honour by
a joint column of troops from all the Central Armed Police Forces (CAPFs) such
as the CRPF, BSF, ITBP, CISF and SSB.
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BJP MLA, 4 SECURITY PERSONNEL KILLED IN MAOIST ATTACK IN
CHHATTISGARH
A BJP legislator and at
least four of his security personnel were killed on Tuesday when Maoist rebels
bombed their convoy in Dantewada district of Chhattisgarh. Bhima Mandavi, was
campaigning for elections when he was ambushed at around 4 pm near Kuakonda
village. Mandavi, after holding two public meetings, was travelling to
Nakulnaar before the Election Commission's deadline for campaigning ended at 5
pm. Security agencies had warned public representatives to avoid the route
after Maoists asked for people to boycott the elections. Mandavi’s convoy had
at least six vehicles—some of which were mangled. Maoists opened fire after the
explosion but security personnel escorting the convoy retaliated and forced
them to retreat.
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WEAPONISED DRONES ARE ON THE TABLE FOR INDIA: USISPF OFFICIAL
Weaponised drones from
American companies for Indian defence use are on the table according to a
Senior Advisor at the US-India Strategic Partnership Forum (USISPF). I think
weaponised drones are on the table, I think the original purchase was for
surveillance but those are platforms known as the Predator. The Sea Guardian is
basically an unarmed Predator that is kitted out for maritime surveillance,
anti-submarine warfare and things like that I think the idea of armed drones
has been basically approved in principal on the US side so it’s certainly
something which is on the table, Vikram J Singh, said. India has the intent to
buy the Sea Guardian and some other versions of a drone made by General Atomics
for long endurance surveillance of the borders and the maritime space, he said.
Commenting on the impact of US-India defence dynamics in light of allegations
that Pakistan used US supplied F-16 aircrafts against India, Singh said, The
agreement to sell Pakistan those F-16s goes back to before the US and India had
completed a single defence deal. The United States has a complicated
relationship with Pakistan, there is no doubt that US views Pakistan as
enabling terrorism. But there is also no doubt that the US has been dependent
on Pakistan for a lot of things, particularly related to the war In
Afghanistan. This is where both India and US have similar objectives.
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ANYONE DOUBTING 'INDIAN AIR FORCE' IS PAKISTANI: VIJAY RUPANI
Vijay Rupani on Tuesday
reiterated that those who sought evidence of the Indian Air Force's Balakot air
strikes were anti-national and pro-Pakistan, including even the kin and family
members of the Pulwama terror attack victims. I once again say that this time
the elections are between India and Pakistan. Why? Because Pakistan is asking
for the proof of the air strikes and the Congress is also asking for the same.
Both speak the same language, Rupani told. So all those, who doubt our Sena's
actions are aiding Pakistan's objective in shaming India, he said. When asked
what would he call some of the Pulwama martyrs families who had also asked for
evidence of the air strikes, Rupani asserted: Yes! Absolutely, anyone doubting
our 'Sena' is definitely a Pakistani. Rupani said the security of the nation
was the top priority. Our government will give a free hand to the security
forces to send back the infiltrators. On terrorism front, our government won't
compromise. Asked about the party's long-standing promise of doing away with
Article 370, he claimed that a lot was happening on that front. We will abolish
Article 370. And it will be us who will be making the Ram Mandir. We will also
abolish Article 35A in Kashmir.
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EX-CIVIL SERVANTS WRITE TO RAM NATH KOVIND OVER ELECTION
COMMISSION'S CREDIBILITY
A group of former
bureaucrats and diplomats, including Najeeb Jung and Shiv Shankar Menon, has
written a letter to President Ram Nath Kovind complaining that the Election
Commission of India (ECI) was suffering from a crisis of credibility and
alleged that the Model Code of Conduct (MCC) has been violated several times,
but the poll body has failed to take action. We write to express our deep
anguish that the ECI is suffering from a crisis of credibility today. The ECI's
independence, fairness, impartiality and efficiency are perceived to be
compromised today, thereby endangering the integrity of the electoral process
which is the very foundation of Indian democracy, they said in the letter
written on Monday. The civil servants said they were distressed to note the
misuse, abuse and blatant disregard of the MCC by the ruling party at the Centre
and the ECI's pusillanimity in coming down with a heavy hand on these
violations. Referring to the ECI's clean cheat to Prime Minister's public
announcement on March 27 about the successful launch of India's first
anti-satellite weapon (ASAT), they said that parading the achievements of a
government after the announcement of elections was tantamount to a serious
breach of propriety. The ECI's decision does not stand up to the standards of
impartiality expected of it, they said. Over the controversy surrounding
release of a biopic on the Prime Minister, the group opined that it represents
a backdoor effort to garner free publicity for a political person (and his
party). If this biopic is released even while the election process is ongoing,
we contend that the entire expenses on the production, distribution and
publicity of the biopic should be debited to the election expenses of Narendra
Modi, the group said. The group also accused the ECI of acting with lethargy in
respect of the NaMo TV channel and transfer of three top police officers and
the Chief Secretary in Andhra Pradesh and four top police officers in West
Bengal. They appealed the President that the ECI to conduct itself in a manner
where its independence, fairness, impartiality and efficiency was not
questioned and to firmly exercise the extensive mandate given to it under
Article 324 of the Constitution to ensure that the Indian voter is able to
exercise her/his franchise without fear or favour.
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DID CERTIFICATION PANEL EVER CLEAR CONTENT OF NAMO TV: EC ASKS
DELHI CEO
The Election Commission is
learnt to have directed the Chief Electoral Officer of Delhi on Tuesday to
ensure that the contents of NaMo TV are pre-certified by the local media
certification and monitoring committee Such committees are formed at district
and state levels during polls. They clear political campaign and
advertisements. The EC has also asked the CEO to inform whether the political
contents were at anytime cleared by the certification committee. In its
response, the Information and Broadcasting Ministry is learnt to have responded
that the NaMo TV is an advertisement platform launched by DTH service providers
which does not require government nod. The ministry is also learnt to have said
that NaMo TV is not a regular channel and it does not figure in the official
list of approved channels of the I&B Ministry. As per the existing norms,
no approval is required from the ministry to run such advertising platforms,
the I&B ministry is learnt to have told the poll panel.
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SO MUCH COURT TIME WASTED ON NON-ISSUES: CJI ON MODI BIOPIC
PLEA
The Supreme Court on
Tuesday rejected a plea that sought to defer the release of a biopic on PM
Modi, observing that it was premature as Central Board of Film Certification
was yet to clear it, and that such issues be left to the Election Commission.
So much of court time is wasted on non-issues such as these, Chief Justice of
India Ranjan Gogoi told Manu Singhvi, who made out a case for the court to
intervene, on Tuesday. Singhvi argued that releasing the movie now will allow
it to run for at least 40 days in the middle of the general elections,
impacting level playing field. Free and fair polls, he said, were part of the
basic structure in a democracy.
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'DON'T WORRY MODI JI', PROBE WILL TAKE PLACE NOW: CONGRESS ON
SUPREME COURT'S RAFALE DECISION
The Congress Wednesday hailed
the Supreme Court's decision allowing leaked documents to be used by
petitioners seeking review of the Rafale judgement, saying skeletons in the
scam are tumbling out and now there is no official secrets act to hide behind
for the Modi government. The Supreme Court Wednesday allowed leaked documents
to be relied upon by petitioners seeking review of its Rafale judgement and
dismissed the government's preliminary objections claiming privilege over them.
Modiji, you can run and lie as much as you want but sooner or later the truth
comes out. The skeletons in Rafale scam are tumbling out one by one. And now
there is 'no official secrets act' to hide behind, Congress' chief spokesperson
Randeep Surjewala said. SC has upheld a time honoured legal principle; A
rattled Modiji had threatened to invoke Official Secrets Act against
independent journalists for exposing his corruption on Rafale.Don't worry
Modiji, an investigation is going to take place now, whether you like it or
not, he said.
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BRITISH VIRGIN ISLANDS CLAIM INFO ON KOCHHARS DESTROYED IN
CALAMITY
The British Virgin Islands
(BVI) has denied the Income Tax (I-T) Department certain account information,
saying it has been destroyed in a natural calamity sources in know told. The
information pertains to the investigation into Deepak Kochhar, husband of
former ICICI Bank chief executive Chanda Kochhar, in the quid pro quo case. In
a related development, the Enforcement Directorate (ED) — probing the Kochhars
and Videocon chairman Venugopal Dhoot of money-laundering — has for the first
time sought details on the Videocon loan, role of the sanctioning committee and
procedures followed, about a fortnight ago. The I-T department had sent Letters
Rogatory (LRs) to Mauritius, Singapore and BVI. Singapore has already replied
to the queries while a reply from Mauritius is awaited, the sources said. This
is not the first time BVI has cited natural calamity as the reason behind
failing to share information, said an official who spoke on condition of
anonymity. Monies have been moved and received from NuPower Renewable le
(Kochhar’s company) to various foreign accounts. In order to check the veracity
and the purpose of these funds, we had written to the three countries. BVI
replied saying they suffered a natural calamity in which all documents and
storage devices have been washed away and therefore, information of the
accounts sought by us cannot be parted with, the official added. The
information given by Singapore has provided certain workable leads. We are also
awaiting a response from Mauritius but aren’t hopeful that they will share it.
Our probe has concluded that the (Kochhars’) flat in the tony CCI Chambers in
south Mumbai has been bought through a web of suspicious transactions through
companies linked to Videocon group, said the official. Meanwhile, ED is also
planning to write to BVI, Mauritius and Singapore, though inside sources told
they don’t expect a positive response from the first two. These countries are
tax havens and they are averse to sharing information. We need to get details
on the foreign accounts connected to NRL so as to unearth the money trail and
connect both the source and the receiver in the chain, said an official.
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FODDER SCAM: SC DISMISSES LALU PRASAD YADAV'S BAIL PLEA
The Supreme Court on
Wednesday dismissed the bail plea of RJD supremo Lalu Prasad Ydav in
multi-crore fodder scam cases. A bench headed by Chief Justice Rajan Gogoi said
it is not inclined to enlarge Yadav on bail in the cases. The bench rejected
Yadav's arguments that he has been in jail for 24 months, saying in comparison
to the 14-year sentence awarded to him, 24 months was nothing. Senior advocate
Kapil Sibal, appearing for Yadav, said there were no recoveries and no demand
and the only major offence under which he was convicted was conspiracy. The
bench said merits of the case will be decided by the high court. At present, we
are only hearing the bail appeal, it said.
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LS POLLS: KAMAL NATH, SON NAKUL JOINTLY OWN ASSETS WORTH OVER
RS 780 CR
Madhya Pradesh chief
minister Kamal Nath's son Nakul, who Tuesday filed his nomination for the
Chhindwara Lok Sabha seat, owns movable and immovable assets worth over Rs
660.01 crore. The figure, mentioned in his affidavit filed along with the
nomination papers, is over five times the assets of his parents, which as per
MP CM Nath's affidavit stood at over Rs 124 crore. Nakul Nath, a
businessman-turned-politician, holds movable assets worth over Rs 615.93 crore
while that of his wife Priya is over Rs 2.30 crore, as per the affidavit. The
value of his immovable assets is over Rs 41.77 crore while his wife does not
own any immovable asset, as per the affidavit. The affidavit stated that Nakul
owned these properties in his own name as well as jointly and also through
family controlled companies and trusts. Nakul and Priya Nath don't own any
vehicles, the affidavit stated. He owns 896.669 grams of gold bars, 7.630
kilogrammes silver, 147.58 carat diamond and stone jewellery worth over Rs
78.45 lakh while his wife possesses over 270.322 grams gold, 161.84 carat
diamond and stone jewellery valued at over Rs 57.62 lakh, the affidavit said.
As per Income Tax Return filed for the year 2017-18, Nakul Nath has shown
annual income of over Rs 2.76 crore while his wife's income stood at over Rs
4.18 crore.
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PAKISTAN HAS 'OFFICIALLY' ALLIED WITH MODI, VOTE FOR HIM IS
VOTE FOR PAKISTAN: CONGRESS
The Congress on Wednesday
cited a media report to claim that Pakistan has officially allied with Prime
Minister Narendra Modi and said a vote for him would be a vote for the neighbouring
country. Randeep Surjewala launched a scathing attack on Modi over the report
quoting Pakistani Prime Minister Imran Khan saying he believes there may be a
better chance of peace talks with India and settling the Kashmir issue if
Modi's party BJP wins the general elections. Khan said other parties would be
afraid of right-wing backlash in case of a settlement on the Kashmir issue. Pak
has officially allied with Modi! A vote for Modi is a vote for Pakistan!
Surjewala tweeted. Modi ji, first there was love for Nawaz Sharif and now Imran
Khan is your dear friend, he added in a tweet in Hindi. The truth is out in the
open, Surjewala claimed.
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NIA ARRESTS JKLF CHIEF YASIN MALIK IN TERROR FUNDING CASE
The National Investigation
Agency on Wednesday arrested JKLF chief Yasin Malik in connection with a case
related to the funding of terror and separatist groups in Jammu and Kashmir,
officials said here. Malik was brought to the national capital Tuesday evening
after a special NIA court in Jammu gave the go ahead for his custodial
interrogation by the probe agency, they said. The Jammu and Kashmir Liberation
Front chief, who was shifted to Tihar jail under police protection, was taken
into preventive custody in February by the Jammu and Kashmir police and shifted
to Jammu's Kot Balwal jail.
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KARNATAKA ON ELECTION HIGH, RANKS SECOND IN SEIZURE OF LIQUOR
Neighbouring Tamil Nadu
has had a reputation for large amounts of gifts in various forms making their
way to the masses prior to elections. Now, Karnataka, too, appears to be
getting this dubious reputation — at least in the quantity of liquor pouring
in. It ranks second in the value of liquor seized by authorities in the run-up
to the Lok Sabha elections. Data provided by the Election Commission indicates
liquor worth Rs 33.59 crore was seized in the state as on April 8. In
comparison, liquor seized in Tamil Nadu was worth a mere Rs 2.39 crore. Apart
from liquor, flying squads, static surveillance teams, the excise department
and commercial tax officials in Karnataka also seized hard cash totalling Rs
25.71 crore. The sum of all seizures amounts to Rs 63 crore. The state ranks
seventh nationally in the value of overall seizures. In the run-up to the 2018
Assembly elections, commodities worth over Rs 150 crore were seized in the
State, the second-highest in poll-related seizures in any state after the 2014
general elections.
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MODI ACCUSES CONG OF ELECTION SCAM, LOOTING MONEY OF POOR
Narendra Modi on Wednesday
accused the Congress of a Tughlaq road election scam where money meant for
poor, pregnant women was looted from people. Notably, Congress president Rahul
Gandhi's official residence is on the Tughlaq Road in New Delhi. The Income Tax
Department recently conducted raids on close aides of Madhya Pradesh Chief
Minister and Congress leader Kamal Nath and others in four states on Sunday.
The CBDT, that frames policy for the I-T department, had said the department
has also detected a trail of Rs 20 crore suspect cash allegedly being moved to
the headquarters of a major political party in Delhi from the house of an
important person who lives on Tughlaq Road, home to many VIPs. PM Modi took a
swipe at the Congress, saying it is known by many names as far as scams are
concerned. Now it has got a new name, but with proofs. The Congress is
indulging in a 'Tughlaq Road Chunavi ghotala', where money meant for the poor
is being usurped for their own leaders. Money meant for pregnant women is
looted, Modi said. He said the Congress in its manifesto says everybody should
get bail even if they commit serious crime. For whom is this provision, is it
for your leaders? In the last five years, I have brought them to the doors of
jail and if you give me next five years, they will be inside, Modi said.
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US SENDS WARSHIP CARRYING FIGHTER JETS TO DISPUTED PART OF
SOUTH CHINA SEA
The US sent a
fighter-jet-carrying warship to join drills near the disputed Scarborough Shoal
for the first time, sending a pointed message to China as tensions simmer over
territorial claims in the region. The USS Wasp -- an amphibious assault ship
outfitted last year with F-35B jets -- joined the annual Exercise Balikatan
with the Philippines this month. A ship matching the USS Wasp’s description was
spotted in waters near the Scarborough Shoal, a feature occupied by China since
a tense standoff in seven years ago, the Philippines’ ABS-CBN News reported
Tuesday. The USS Wasp didn’t pass within 25 nautical miles of the shoal,
according to a US defense official who spoke on the condition of anonymity. The
figure suggests that the ship wasn’t conducting a so-called freedom of
navigation operation, a practice criticized by China that the US uses to assert
international sailing rights within 12 nautical miles of disputed features. The
moves come as officials in Manila escalate protests over the presence of more
than 200 Chinese ships near the Philippine-occupied South China Sea feature of
Thitu. Philippine President Rodrigo Duterte has urged China to lay off the
feature, saying he would order a military action. The U.S. has been seeking to
firm up its treaty alliance with the strategically located Southeast Asian
nation ever since Duterte was elected in 2016 and announced his separation from
Washington in favor of Beijing. In March, U.S. Secretary of State Michael
Pompeo assured local officials during a visit to Manila that their treaty would
apply to Philippine vessels or planes attacked in disputed waters. Philippine
Foreign Affairs Secretary Teodoro Locsin said earlier this week that the US
would remain the country’s only military ally. More than 7,000 soldiers from
the Philippines and the US are participating in Exercise Balikatan, according
to General Benjamin Madrigal Jr., the Philippine military chief. The combined
information bureau for the joint military drills said Tuesday that the USS Wasp
has been training with Philippine Navy ships in Subic Bay and international
waters of the South China Sea as part of the Exercise Balikatan for several
days. The training is focused on maritime security and amphibious capabilities,
as well as multinational interoperability through military exchanges, the
bureau said. This year’s joint exercise was the first to incorporate the USS
Wasp with the U.S. Marines Corps’ F-35B Lighting II aircraft. Together they
represent an increase in military capability committed to a free and open
Indo-Pacific, the bureau said. Participating in Balikatan demonstrates their
ability to forward deploy in support of an ally should a crisis or natural
disaster occur.
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FTII ANNOUNCES COURSE IN FILM CRITICISM AND THE ART OF REVIEW
Breaking yet another new
ground, Film and Television Institute of India (FTII) Pune has announced, for
the first time, a course in Film Criticism and the Art of Review The 20-day
Course would be conducted from 28th May to 19th June, 2019 in Delhi in
association with Indian Institute of Mass Communication (IIMC), Delhi. Talking
about the course, Shri Bhupendra Kainthola, Director, FTII, said that it meets
a long-standing demand of cinema critics, film reviewers, film bloggers,
research scholars, film academics and just about anyone who has more than
ordinary interest in cinema. He added that one needs to know how to ‘read’ a
film in order to review it, the tools for which will be provided through this
course. The course would be helmed by Bhopal-based filmmaker Ms. Rajula Shah,
an FTII alumnus. She studied film direction at FTII from 1997 to 2000. Her film
practice emerges from an intense dialogue with the various arts, schools of thought
and philosophies through a close collaboration with people, their work and
contexts. Her special interest of study and work is in the expanding scope of
the film practice & the digital arts. Talking about the course, Ms. Shah
said that it has been designed to provide a basic grounding in the discipline
of Film Criticism and to train the participants into becoming a serious viewers
of Cinema. She added that the course includes the study of significant films in
the history of cinema through the prism of critical thinking. The Course is
being conducted under FTII's countrywide film education outreach initiative
SKIFT (Skilling India in Film and Television) under which over 135 short-term
courses have been held in 37 cities across the country covering over 5800
learners. The Course is open to all, with no age bar. Last date for applying is
22nd April 2019. Accommodation will be made available on request for selected
participants coming from outside Delhi. Course details are available on
www.ftii.ac.in
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85% ACTIVE USERS ACCESSING YOUTUBE ON MOBILE PHONES IN INDIA
Google's video platform
YouTube on Tuesday said as much as 85 per cent of its users now access the
platform on mobile phones in the country, up from 73 per cent last year. It has
a monthly active user base to 265 million in the country (as of January 2019),
up from 225 million last year. The platform entered India 11 years ago. With
265 million active users, India is now our biggest audience and one of our
fastest-growing markets in the world, YouTube Global Chief said.
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DEMONETISATION AND GST ISSUES ONLY FOR THE OPPOSITION, NOT THE
PEOPLE: LJP LEADER CHIRAG PASWAN
Bihar, which has 40 Lok
Sabha seats, is heading to polls in seven phases starting April 11. Our
correspondent on Sunday travelled to Jamui, Lok Janshakti Party (LJP) leader
Chirag Paswan's constituency, and spent a day with the young leader. Paswan is
contesting from Jamui for the second time. In 2014, he won the election by a
decent margin. However, this time, winning from the seat may not be as easy
courtesy the Mahagathbandhan. For Jamui, Sunday was an important day. Chief
Minister Nitish Kumar was heading to the constituency, going to polls on April
11, to campaign in favour of Chirag Paswan. Chirag's kafila started from Jamui
and headed to Chakai, a distance of 80 km. Supporters en route greeted Chirag
with flowers. He talked about development work done in his constituency. He
said work on a medical college had begun and they had received approval for a
Kendriya Vidyalaya (KV). Chirag stated that every MP wanted a KV in their
constituency, hence this was a big achievement. Jamui became a district around
25 years ago, but it lacked even basic amenities. He said construction of the
building for KV had already started, and investment is around Rs 19 crore.
Along with this, we might be the only adarsh gram connected via railways, he
said. Jamui is now the fastest-growing district in the state and was named
among the top five in the entire country by Niti Aayog, the leader added. His
'kafila' soon reached Jakai. The stage was set for CM Nitish Kumar. As soon as
the veteran leader's helicopter arrived, party workers started chanting 'Nitish
Kumar Zindabad'. The second-generation leader said this was one issue he wanted
to address at length. He said, I very humbly accept that I am a part of dynasty
politics and there are many members of my family who are in this profession and
hold major posts in the party. I accept all that criticism because this is
something I can't shy away from. Having said that, I don't think being the son
of a big politician can be the only criteria for you to win or be able to
sustain. I think eventually everything boils down to your capabilities. It
might be a blessing that you come from a big political family, but to prove
yourself and to sustain, you ought to have that capability and potential in
you. Had that not been the case, I think all the previous PMs and kids of all
the previous Presidents would have been holding strong posts in politics. But
we don't even know the names of many. I accept you tend to get an easy entry
coming from a big family, but then eventually you are in that public domain. It's
the people who are going to decide your faith. They are not going to decide it
on which family you come from or what surname you hold. If that were the case,
my sister, Misa Bharti, wouldn't have lost elections. It proves that no matter
what family you come from, eventually it all boils down to your potential and
capabilities.
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PAK FEATURED ON US LIST OF COUNTRIES WHERE TOURISTS MAY GET
KIDNAPPED
The US State Department on
Tuesday (local time) introduced a new risk indicator for 35 countries including
Pakistan, to communicate more clearly to American citizens the risks of
kidnapping and hostage-taking by criminal and terrorist actors around the
world. The new K indicator is part of our ongoing commitment to provide clear
and comprehensive travel safety information to US citizens so they can make
informed travel decisions, the Department said in a statement. It said that the
travel advisories are based on risk indicators such as crime, terrorism, civil
unrest, natural disasters, health, and other potential risks. The US Department
of State has no greater responsibility than the safety and welfare of Americans
overseas, the statement said. We will continue to update our public information
as part of our ongoing commitment to serve U.S. citizens as they travel abroad,
it added.
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DONALD TRUMP HAS A MESSAGE FOR THE WORLD: MY TRADE WARS AREN'T
OVER YET
President Donald Trump is
sending a clear message to the economic policy makers gathering in Washington
for the IMF and World Bank’s spring meetings: My trade wars aren’t finished yet
and a weakening global economy will just have to deal with it. With his latest
threat to impose tariffs on $11 billion in imports from the European Union --
from helicopters to Roquefort cheese -- the US president offered a vivid
reminder that, even as he moves toward a deal with China to end their tariff
wars, he has other relationships he’s eager to rewrite. That’s not encouraging
for global growth, with the International Monetary Fund and others pointing to
the uncertainty over Trump’s assault on the global trading system as a damper
on business investment and sentiment. Should they materialize, the new tariffs
will be in retaliation for what the US has long claimed are illegal subsidies
to Airbus SE and cap a 14-year fight between Boeing Co. and its European rival
at the World Trade Organization. Importantly, the US has said it will wait for
the WTO, which has already deemed the subsidies illegal, to rule this summer on
the exact amount of retaliation allowed. That is potentially good news for the
WTO and the broader system Trump has often said he wants to blow up. The
Airbus-Boeing fight also predates Trump and it’s fair to say any US
administration would be willing to use WTO-sanctioned retaliatory tariffs. The
Trump administration has been sending some mixed signals about the World Trade
Organization, but this action suggests they still value playing by the rules.
But Trump has deeper issues with the EU. And that’s the problem hanging over
the global economy, which the IMF predicts will grow this year at its slowest
rate since the aftermath of the global financial crisis a decade earlier. The
EU has taken advantage of the US on trade for many years. It will soon stop!
Trump said on Twitter on Tuesday. The two sides have kept a fragile truce since
July when Jean-Claude Juncker, the European Commission president, and Trump
agreed to launch talks on reducing industrial tariffs. The move put on hold
Trump’s threat to impose separate tariffs on imports of cars and parts from the
EU. But the negotiations have yet to get underway in earnest with the EU’s 28
members only expected to give the European Commission the mandate it needs to
begin talks in the coming days and casting a wary eye on European elections due
next month. Moreover, Trump faces a decision in May on how he wants to proceed
with the auto tariffs, though White House officials have been telling their
European counterparts that there is a high chance that the duties could be
delayed. The threat of auto tariffs that could batter Japan’s economy has
forced Tokyo back to the negotiation table. Their chief point man on trade,
Toshimitsu Motegi has insisted that any deal must be mutually beneficial,
suggesting that Japan won’t easily cave in. It’s unclear what the scope of the
talks will be, after an agreement between Prime Minister Shinzo Abe and US
President Donald Trump in September referred to both goods and services. Canada
and Mexico are continuing to push for the US to lift steel and aluminum tariffs
imposed on them as all three countries work to have their legislatures ratify
Trump’s replacement for Nafta. India is also threatening tariffs on US apples
and other products in retaliation for Trump’s threat to kick the South Asian
country out of a preferential trade scheme for developing nations. We’re still
in the same tariff world that we were last year, said Wendy Cutler, a former
senior US trade negotiator now at the Asia Society. That still carries risks
and lots of uncertainty, though Trump has been able to use tariffs to force the
EU, Japan and other trading partners into negotiations, Cutler said. The
question is at what point does it backfire. At what point do countries just say
enough is enough?
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US BLACKLISTING OF IRAN GUARDS A ‘MISTAKE’: ROUHANI
Iranian President Hassan
Rouhani on Tuesday defended the elite Islamic Revolutionary Guard Corps as protectors
of Iran a day after the United States labelled the group as a foreign terrorist
organisation. The Guards have sacrificed their lives to protect our people, our
(1979 Islamic) revolution today America that holds a grudge against the Guards,
blacklists the Guards, Rouhani said in a speech broadcast live on state TV.
U.S. President Donald Trump designated Iran's Guards a foreign terrorist
organisation on Monday -- an unprecedented step that will raise tensions in the
Middle East. Tehran took retaliatory action by naming the United States Central
Command (CENTCOM) as a terrorist organisation and the U.S. government as a
sponsor of terror. Rouhani called the U.S. decision a mistake and other Iranian
officials have warned that it will endanger U.S. interests in the region, where
Iran is involved in proxy wars from Syria to Lebanon. This mistake will unite
Iranians and the Guards will grow more popular in Iran. America has used
terrorists as a tool in the region while the Guards have fought against them from
Iraq to Syria, he said.
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UK PARLIAMENT APPROVES BREXIT LAW FORCING THERESA MAY TO
CONSULT ON DELAY
Britain’s parliament
approved legislation on Monday that gives lawmakers the power to scrutinise and
even change Prime Minister Theresa May’s request that the European Union agree
to delay Brexit until June 30. May has already asked Brussels to extend
Britain’s EU membership to allow talks with the opposition Labour Party in
search of different exit plan – a last-ditch attempt to keep control after
parliament rejected her Brexit deal three times. But lawmakers want additional
legal guarantees against a no-deal exit happening on April 12 – the current
exit day – and have crafted a law forcing ministers to consult with parliament
on Tuesday before May goes to Brussels. The bill gives lawmakers the chance to
make legally binding changes to May’s requested departure date during a debate
scheduled to last 90 minutes on Tuesday. The prime minister would retain some
freedom to agree a different date with the EU. May is due to travel to Paris
and Berlin on Tuesday to press her request for a short delay, before it is
formally discussed by EU leaders at a special summit on Wednesday. The bill
passed through the Commons by a single vote last week and was then approved
with minor changes in the House of Lords, an unelected body whose role is to
refine and scrutinise legislation, which the Commons then had to sign off on.
The passage of the bill represents a significant blow to May’s authority,
overturning the long-standing convention that the government has sole control
of the agenda in parliament, allowing it to control what laws are passed. It
also creates another flashpoint in a deeply divided body of lawmakers that
could undermine May’s attempts to persuade Brussels she can get parliament to
back a Brexit deal if the EU gives her more time. The government had warned
that the legislation was poorly drafted, rushed through parliament and set a
dangerous constitutional precedent. Pro-Brexit lawmakers also fiercely opposed
the bill.
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INDIA TO BUILD DEVELOPING COUNTRY COALITION WITH BRAZIL, CHINA
AT INFORMAL TRADE MINISTERS’ MEET
India plans to build a coalition
of developing countries at the upcoming informal meeting of trade ministers on
May 13-14 to develop a common understanding to reform the multilateral trading
system and institutional issues at the World Trade Organization (WTO). New
Delhi has invited 20 countries for the mini ministerial including China, South
Africa, Brazil, Indonesia, Kenya and Malaysia with the objective of retaining
development at the core of the multilateral trade body. We are confronted with
multiple challenges, some of which could erode the very foundation of the WTO,
said an official aware of the details adding that unless developing countries
collectively recognise the problems and develop a common understanding on the
way forward, the multilateral trade rules may become even more asymmetric.
India’s proposal to reform the multilateral trade watchdog could also be
discussed at the two-day meet. New Delhi has sought amendment of laws on
unilateral action by members on trade issues and resolution of the WTO’s
dispute settlement system. It also seeks to revive talks to strengthen global
norms to protect traditional knowledge from reckless patenting by corporates
through commercial exploitation of natural products by obtaining patents
without fairly compensating the communities from which these originate -- an
issue that has harmed India and Africa equally.
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US PROPOSES TARIFFS OF UP TO $11.2 BN ON EU PRODUCTS OVER
AIRBUS SUBSIDIES
A simmering transatlantic
trade row risked escalating on Tuesday after the US threatened to impose tariff
counter-measures of up to $11.2 billion on a host of European products. The
threatened US tariffs are in response to subsidies received by aircraft maker
Airbus and target a host of European products including helicopters, aircraft
parts and gouda cheese. For more than 14 years, Washington and Brussels have
accused each other of unfairly subsidising Boeing and Airbus, respectively, in
a tit-for-tat dispute that long predates Trump. The Boeing-Airbus spat is the
longest and most complicated dispute dealt with by the WTO, which aims to
create a level playing field in global trade. In a statement Monday, the office
of the US Trade Representative (USTR) said the World Trade Organization (WTO) had
repeatedly found that European subsidies to Airbus have caused adverse effects
to the United States. This case has been in litigation for 14 years, and the
time has come for action, said US Trade Representative Robert Lighthizer. Our
ultimate goal is to reach an agreement with the EU to end all WTO-inconsistent
subsidies to large civil aircraft. When the EU ends these harmful subsidies,
the additional US duties imposed in response can be lifted. The EU fired back
on Tuesday, saying that the amounts claimed by the US were greatly exaggerated.
The figure quoted by USTR is based on US internal estimates that have not been
awarded by the WTO, the commission official added.
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US NAMES IRAN'S REVOLUTIONARY GUARDS A TERRORIST GROUP
Donald Trump said on
Monday he would name Iran's elite Islamic Revolutionary Guard Corps a terrorist
organization, in an unprecedented step that drew Iranian condemnation and
raised concerns about retaliatory attacks on U.S. forces. The action by Trump,
who has taken a hard line toward Iran by withdrawing from the 2015 Iran nuclear
deal and re-imposing broad economic sanctions, marks the first time the United
States has formally labelled another nation's military a terrorist group. The
U.S. step, which takes effect on April 15, prompted an immediate response from
Iran, whose Supreme National Security Council in turn designated U.S. military
forces as a terrorist organization, Iranian state-run TV reported. The U.S.
military bases and their military forces in the region will be considered
terrorist bases and terrorist forces that will be dealt with and confronted
accordingly, Iran's Deputy Foreign Minister Abbas Araqchi told Iranian state
TV, calling the U.S. decision a major strategic mistake. The IRGC is the
Iranian government's primary means of directing and implementing its global
terrorist campaign, Trump said in a statement. His administration has long
criticized Iran for its influence in Iraq, Syria and Yemen. Critics of Trump's
decision said it was largely symbolic because U.S. law already carried
penalties of up to 20 years in prison for U.S. persons who deal with the IRGC
because of its designation under another U.S. sanctions program, the U.S.
Specially Designated Global Terrorist list. Senior U.S. military commanders
share Trump's concerns about Iran and the IRGC but long opposed the designation
due to concern over a potential backlash against U.S. forces in the Middle East
and the problems it could create for U.S. partners who have a relationship with
Iran, U.S. officials say. The Pentagon declined to discuss what the U.S.
military was doing to protect American troops from any retaliation by the IRGC
or Iran-aligned militia in places like Iraq.
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GHOSN SAYS HE'S INNOCENT, ACCUSES EX-COLLEAGUES OF
BACKSTABBING HIM
Ousted Nissan boss Carlos
Ghosn said he was innocent and slammed former colleagues whom he accused of
backstabbing and conspiring against him, in a pre-recorded video that marked
his first public address since his initial arrest last year. Prosecutors took
the highly unusual step of re-arresting Ghosn last week on fresh allegations
that he used company funds to enrich himself to the tune of $5 million. The
once-feted executive had been out on $9 million bail for 30 days, during which
he recorded the video screened by his lawyers on Tuesday. The former Nissan
Motor Co chairman said he was the victim of selfish rivals bent on derailing a
closer alliance between the Japanese automaker and French partner Renault SA. Ghosn
called out some individuals by name in the video but those references were
removed due to legal concerns, his lead lawyer Junichiro Hironaka told
reporters. This is a conspiracy. this is not about greed or dictatorship, this
is about a plot, this about a conspiracy, this is about a backstabbing, Ghosn
said in the video. The conspiracy, he said, was borne out of fear that he would
bring Nissan closer to its partner and top shareholder, Renault. However,
France's finance minister said on Tuesday that political interventions might
not be the best way to help Ghosn, raising some questions about how much
pressure Paris was willing to put on Tokyo over the issue. The case has rocked
the global auto industry and also shone a harsh light on Japan's judicial
system.
#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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