DIRECT TAX TARGET MAY BE SCALED DOWN IN BUDGET
The direct tax target of
Rs 13.80 lakh crore for the current fiscal may be scaled down in the regular
Budget to be announced after the formation of the new government at the Centre,
a source said. The Department of Revenue may pitch for lowering the current
target of Rs 13.80 crore in the Budget. It is difficult to grow 21 per cent
(over the actual revised direct tax collections of Rs 11.4 lakh crore). The
current target is a huge order to be filled. In the last fiscal, a target of Rs
12 lakh crore could not be accomplished, said the source. The quantum of
reduction could be discussed, it added. The Interim Budget in February
estimated to collect Rs 13.80 lakh crore in direct taxes, including corporate
tax and personal income tax, compared to Rs 12 lakh crore in the last fiscal --
representing a growth of 15 per cent. But the Rs 12 lakh crore target could not
be fulfilled due to sluggish personal income tax collection which fell short by
Rs 50,000 crore. The original direct tax target for 2018-19 was Rs 11.5 lakh
crore, which was later increased to Rs 12 lakh crore. The revised target for
the current fiscal would be discussed and detailed before it makes it to the
final print of the general Budget in July this year. The source said that
revenue targets are set by the Department of Revenue in consultation with the
Budget division of the Economic Affairs Department. At the time of the Interim
Budget, Revenue Secretary A.B. Pandey had said that Rs 13.80 lakh crore was a
'realistic' target for the current fiscal.
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AMITABH BACHCHAN SHELLS OUT RS 70 CRORE AS TAX
Mr Bachchan has paid Rs 70
crore tax for the financial year 2018-19, his spokesperson said in a statement.
In the recent past, Big B also paid off loans of 2,084 farmers in Muzaffarpur,
Bihar. He has also donated Rs 10 lakh to the family members of each victim of
the February 14 Pulwama terror attack.
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DAS TO REPORT TO THE MINISTRY ON DEFENCE PURCHASES ACROSS THE
WORLD AND ABOUT POTENTIAL EXPORT OPPORTUNITIES
Nirmala Sitharaman on
Tuesday said that defence attaches in Indian missions abroad have been asked to
report and discuss with the defence ministry on the latest defence purchases
across the world and potential export opportunities for India in this. She also
said that the reporting by the attaches will help officials who are involved in
purchasing new defence equipment. The attaches, numbering at least 40, have met
ministry officials during the defence expo last year and the Aero India-2019 in
February. She also said that the defence ministry has held discussions with the
finance ministry that a part of the budget allocated to defence which has not
been utilised in a particular year should not be taken back, so that it is
available for upcoming expenditures in the next few years. Sitharaman said, I
was really surprised that our defence attaches don’t even report to the
ministry. Once posted out, they are dealing with the foreign service and
ambassador. But what is happening in the global world tell me every six months
why should the report come through MEA. Tell me what kind of technologies are
attracting the globe towards that country or tell me what a country needs some
of the things that you produce here. She added that the attaches were asked to
return to India and discuss with the ministry on the defence technologies across
the world. For the first time we had to make it a point for the DAs to come
here. Once in a year to sit and consult us as to what we should do periodic
reports also helps those officials who have to plan purchasing of equipment.
The defence attache should be alerted of what is happening in different parts
of the world on defence equipment, she said. There have already been two
meetings with defence attaches during the expo and the air show, she said. We
had the defence attaches come and tell us what is happening across the world on
defence purchases and marketing and related production, she explained. She
added that several countries are willing to purchase defence equipment from
India. I am glad to say that today our missiles are so sort after by many countries.
The underlying point we are placing before these organisations (DPSUs) whether
producing missiles or aircraft is that there is a market outside. They
(countries) want to purchase from India. Even our warship building capability
is well recognised outside. There are a lot of countries saying give us that
capacity, she said.
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BUILDERS FACING TOUGH CHOICE IN GST RATES FOR ONGOING REALTY
PROJECTS
Builders and home buyers
are trying to understand the best deal for them under the new Goods and
Services Tax (GST) rates for ongoing projects and it seems to be turning into a
double-edged sword for some. Real estate developers have time until May 10 to
decide on whether to stick to the old 12 (residential) or 8 per cent
(affordable housing) rate with input tax credit or the new 5 per cent
(residential) and one per cent (affordable housing) rate with no credits.
However, the choice between the two rates for ongoing real estate projects is
not proving to be an easy one with concerns over how the over-used credit will
be calculated and adjusted in case the new rate is taken and the customer
reaction if the builder chooses to stay with the old rate and there is no
reduction in the prices. According to Niranjan Hiranandani, the problem is only
transitional in nature and for under construction and ongoing projects. This is
a transition issue and once newer projects take over, this problem will go away.
But the transition will take some time, he pointed out. This is further
compounded by the fact that with the ongoing Lok Sabha elections, there is
little opportunity for any clarity from the GST Council or the Finance
Ministry. The confusion may continue for a while till the time the developer
and buyer settle on which rate should be adopted that will benefit both, noted
Suresh Nandlal Rohira, adding that having faced such situations in the past on
change in rates in restaurants, the government should give additional
moratorium period to transition and settle such issues. Experts pointed out
that there were a number of complaints to the National Anti-Profiteering
Authority following the rate GST changes for restaurants. Some builders are
also unsure whether revised agreements and prices can be submitted for
registration under the Real Estate Regulatory Authority. It's not an easy
decision for the builder to decide whether to stay with the old scheme or opt
for the new scheme for ongoing projects. If they continue with the old scheme,
then managing the customer sentiment would be a challenge. In the new scheme,
the mechanism for recovery of input tax credit from the customer needs to be
well thought through, said Pratik Jain.
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VIJAY MALLYA FAILS TO DELAY USD 40MN DIAGEO CLAIM, LEGAL COSTS
MOUNT IN UK
Even as Vijay Mallya
renewed an appeal against his extradition to India, the liquor tycoon suffered
another legal setback on Friday in a separate USD 40-million claims case
brought by British liquor giant Diageo plc in the UK High Court. Justice Clare
Moulder ruled against the 63-year-old businessman's application to seek a delay
in the full hearing in the case scheduled for May 23 and additionally ordered
him to pay legal costs of 34,000 pounds. She was extremely critical of the
unexplained delays by Mallya in clearing the unpaid invoices of his previous
solicitors Greenwoods, which resulted in his new solicitors Joseph Hage
Aaronson (JHA) finding themselves in difficulty and wanting to seek an unfair
adjournment. The delay is at best unexplained and arguably of the defendant's
[Mallya] own making. In my view, the claimants [Diageo] are entitled to have
their claim progressed expeditiously, Justice Moulder said, concluding that
Mallya was the author of its own misfortune. The claimants say that if the May
hearing is adjourned they will suffer prejudice there would be a race in
relation to Mallya's assets which are subject to a number of competing claims;
Mallya may be extradited and this will affect the ability to enforce the
judgment against him, the judge noted, in reference to the extradition order
and worldwide freezing order already in place against Mallya. While the judge
agreed to a short extension until April 23 for Mallya's new lawyers to submit
their evidence to the court, having missed an April 5 deadline, the judge
ordered that meanwhile the businessman must pay additional legal costs of 34,000
pounds for Diageo's lawyers within 28 days. Diageo, which had acquired Mallya's
United Spirits nearly six years ago, is claiming USD 40 million paid to him as
part of an alleged breach of agreement. The UK-based drinks giant is also
claiming USD 140 million from Mallya, his son Sidhartha and two companies
linked to them for alleged questionable payments. The case, dating back to
November 2017, is being contested by Mallya and will now go ahead for a full
hearing at the Business and Property Courts of the UK High Court on May 23.
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VIJAY MALLYA RENEWS APPLICATION FOR APPEAL AGAINST EXTRADITION
Embattled liquor tycoon
Vijay Mallya has submitted a renewal application in the UK High Court, making
another attempt at appealing against his extradition to India to face fraud and
money laundering charges amounting to ₹ 9,000 crore. The
63-year-old former Kingfisher Airlines boss failed in his first attempt at an
application seeking leave to appeal in the court last Friday and had five
business days to renew that application to seek a brief oral hearing before a
High Court judge, where his lawyers will further plead his case against being
extradited to India. A renewal form has been received and will be listed in due
course, a High Court official said on Friday. Sajid Javid had signed off on a
Westminster Magistrates’ Court order for Mallya to be extradited to face the
Indian courts back in February. Mallya then filed an application for permission
to appeal against that decision in the High Court, which was refused by Justice
William Davis, giving him a week to apply for oral consideration via a renewal
application. The case will now be listed in the coming weeks for a hearing
before a judge, where Mallya’s legal team and the Crown Prosecution Service
(CPS) — arguing on behalf of the Indian government — will go head to head to
reiterate factors for and against the businessman’s extradition to Arthur Road
Jail in Mumbai. As per legal procedure in the UK, Mallya’s first written leave
to appeal application had been passed on Justice Davis, who was to make a
decision on the basis of papers submitted and rejected that application on
papers. A judge must now decide following an oral consideration in coming weeks
if Mallya’s appeal can proceed to a full hearing.
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I-T DEPT RUBBISHES REPORTS OF RAIDS AT RESIDENCE, TEMPLE OF
DEVE GOWDA'S FAMILY PRIEST
The Income Tax (IT)
department on Friday clarified that the media reports on raids having been
conducted at places linked to the family priest of a 'prominent political
leader' in Karnataka and Goa were false. No such search or checking of any sort
has been done by the Income Tax department in Karnataka, IT Public Relation
Officer (PRO) said in a press release. The statement comes after various media
portals on April 12 reported that the IT officials raided an ancient Shiva
temple at former Prime Minister HD Deve Gowda' s native village Haradanahalli
in Hassan district. Reports also mentioned that the residence of the family
priest.
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PENDING VAT APPEALS: PUNJAB HC RESTRAINS UT ADVISOR FROM
PASSING ANY FINAL ORDER
The Punjab and Haryana
High Court Thursday ruled that appointment of Advisor to the UT Administrator
as chairman of Value Added Tax Tribunal, without inclusion of any judicial
member in the forum, is against the mandate of apex court. The High Court also
directed the advisor not to pass any final orders in any of the 30 pending
appeals against tax assessment till further orders from court. Advisor is an
IAS officer who may be a good administrator but cannot be inferred to be
totally independent, impartial and a good adjudicator, the order reads. The
division bench of Justices Jaswant Singh and Arun Kumar Tyagi in an interim
order said it needs to be examined whether the advisor has any expertise in
taxation matters, warranting his appointment without any judicial member in the
tribunal. The administration’s counsels were unable to disclose whether he had
any expertise in taxation matters. The advisor is performing part time duty of
chairman of the tribunal and full time job of advisor, and being a functionary
of UT Administration, his appointment clearly amounts to transfer of judicial
function to executive, which is not permissible, the division bench said in the
order, adding, the pendency of 30 appeals or the concurrence of the High Court
Chief Justice on administrative side to the appointment cannot be a ground to
overlook mandate of apex court. Observing that every citizen has a right to be
heard by an independent, impartial and judicious adjudicator, the division
bench in the order further stated, This court cannot doubt integrity or
administrative ability of advisor but he cannot be expected or viewed to be
independent and impartial when he is overall incharge of affairs of UT
Chandigarh. The order was passed in a petition filed by the pharmaceutical
company, Ind-Swift Limited, Chandigarh, against the advisor’s appointment as
chairman of the tribunal, under Section 4 of the Punjab Value Added Tax Act,
2005. A demand of Rs 14.33 crore tax has been raised from the company by
authorities, for alleged wrong availment of Input Tax Credit for the year
2011-12, through an order passed on January 14, and an additional demand of
interest of Rs 20.15 crore with penalty of Rs 31.61 crore has also been made. An
appeal against the tax assessment was dismissed by the Deputy Excise and
Taxation Commissioner (DETC) on February 15, for non-compliance of the
requirement of deposit of 25 per cent. The appeal against the dismissal is now
pending before the VAT tribunal, and the 25 per cent deposit has already been
paid by the company in pursuance to the High Court orders. The Director of the
company, Nav Rattan Munjal, was granted interim bail by the High Court on
February 22 in the FIR regarding alleged wrong availment of Input Tax Credit,
after nearly two and a half months of custody. Akshay Bhan, on behalf of the
company, argued that assessment order is barred by limitation because
assessment was framed after the expiry of three years period, prescribed for
framing assessment. Bhan further argued that the authorities are duty bound to
appoint a judicial member in the tribunal in accordance with the view taken by
Supreme Court in some cases and alleged the Excise and Taxation Department
appointed its own Advisor as the sole member or chairman to decide the appeals.
Though the court did not agree with the petitioner counsel’s argument that
tribunal must consist of more than one member, it observed the plea for
appointment of a judicial member in the forum.
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‘YOU WILL NOT LET THIS COUNTRY REMAIN IN PEACE’: SC JUNKS PLEA
TO PERFORM PUJA IN AYODHYA
The Supreme Court on
Friday dismissed a plea seeking permission to perform prayers at the undisputed
part of the 67.7 acres land in Ayodhya. You will never let this country remain
in peace. There will always be something, Chief Justice of India Ranjan Gogoi
told the petitioner. The apex court also refused to withdraw the Allahabad High
Court order imposing a penalty of Rs five lakh on the petitioner. Rejecting a
similar petition earlier, the high court had imposed a fine of Rs five lakh on
another petitioner seeking permission to offer namaz at the disputed site.
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BRIBERY CASE AGAINST RAKESH ASTHANA: HC ASKS CBI TO FILE
TIMELINE ON NEED FOR SENDING LRS TO NATIONS
The Delhi High Court
Friday directed the CBI to file a timeline of events relating to the ongoing
investigation in a bribery case involving the agency's former special director
Rakesh Asthana and the need for sending Letters Rogatory (LRs) to various
countries. The court questioned the CBI for not sending the LRs till now even
though it had passed in January the order dismissing the pleas of Asthana and
two others seeking to quash the FIR. Justice Mukta Gupta said the document, to be
filed through Additional Solicitor General (ASG) Vikramjit Banerjee, should
also include when the requirement of issuing LRs came to the knowledge of the
investigating officers and the details of the CBI officers who spent last 2-3
months on it. The ASG will prepare a list of dates and events indicating when
the requirement of LRs came to the notice of the IOs. Who spent these 2-3
months and how, resulting in not sending the LRs till date, the court said,
asking the agency to file the document in a sealed cover. The court listed the
matter for April 23 for further hearing on CBI's application seeking more time
to complete the probe in the case lodged against Asthana, DSP Devender Kumar
and middleman Manoj Prasad.
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SC NOTICE TO BENGAL GOVT FOR ALLEGEDLY HARASSING OFFICIALS FOR
LUGGAGE CHECKING OF TMC LEADER’S WIFE
The Supreme Court on
Friday issued notice to the West Bengal government on alleged harassment of
custom officials at Kolkata airport for checking the luggage of a Trinamool
Congress leader’s wife. Ranjan Gogoi, an apex court bench also termed the
alleged incident very very serious. Someone has drawn our attention to
something. It is very very serious. We do not know whose claims are bona fide,
said the bench, also comprising Justice Sanjiv Khanna. It did not consider the
submission of senior advocate A M Singhvi that no notice was required to be
issued on the petition.
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SC DIRECTS EX-JHARKHAND MINISTER TO SURRENDER BEFORE RANCHI
COURT BY APRIL 15
The Supreme Court Friday
directed former Jharkhand minister Yogendra Sao to surrender before a court in
Ranchi by April 15 in cases related to rioting and inciting of violence. A
bench headed by Justice S A Bobde said that Sao will have to surrender by
Monday. Advocate Tapesh Kumar Singh, appearing for Jharkhand, said that Sao can
surrender before the concerned trial court in Ranchi. He said all the case
records have been transferred to Ranchi in compliance with the apex court
order. The apex court order came on a plea of Sao seeking clarification of the
order on the place of his surrender. The top court had on April 4, trashed
Sao’s plea seeking to campaign for the Congress in the current Lok Sabha polls
and cancelled his bail, saying he has violated the bail conditions. It had
transferred the trial of 18 cases against Sao and his wife Nirmala Devi to
Ranchi from Hazaribagh district in Jharkhand.
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VOTE FOR ME, YOU WILL NEED ME ONCE ELECTIONS ARE OVER: MANEKA
TO MUSLIMS
Maneka Gandhi told Muslims
to vote for her as they will need her once the Lok Sabha elections are over. We
are not Mahatma Gandhi's children that we keep giving and not get anything in
return she said in Muslim-dominated Turabkhani area on Thursday. Gandhi, the
BJP candidate from Sultanpur Lok Sabha constituency, claimed she is all set to
win and told the Muslim audience that you might need me tomorrow. The Congress
reacted strongly with spokesperson Randeep Singh Surjewala saying she is trying
to divide people on the basis of caste and community. I am winning. I am
winning because of the help and love of the people, Maneka Gandhi said at the
meeting in Sultanpur, a constituency earlier held by her son Varun Gandhi. But
if my victory is without the Muslims, I will not feel very good, she said,
adding she will be left with a bitter feeling. If Muslims come for some work
after this, I will think why bother, what difference will it make. Suggesting
that it was matter of give and take, she added, We are not Mahatma Gandhi's
children to keep giving without getting anything in return. The minister asked
them to check with the people in Pilibhit, her earlier constituency. If there
is even one person who says there had been something wrong on my part, don't vote
for me, she said. Gandhi said she had come with an open mind and they may feel
that they might need me tomorrow. This election I have already won, and you
will need me and want to lay the foundation for this. She also asked people to
pass on this message to others.
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CONGRESS READY FOR ALLIANCE WITH AAP IN DELHI ALONE: CHACKO
The Congress officially
made it clear that an alliance with the Aam Aadmi Party (AAP) will not
materialise if it insisted on seats in Haryana and Punjab. P.C. Chacko said the
understanding with AAP was that it would contest on four seats while Congress
would contest on three on the basis of vote share of the two parties. However,
Mr. Chacko said AAP changed their demands as its leader Sanjay Singh insisted
on having a tie-up in Haryana and Punjab as well. Mr. Chacko said this was not
possible as political situation was different in every State and the party is
compelled to go alone. Even today we are ready to ally with them for Delhi, said
Mr Chacko. He also revealed that Congress chief Rahul Gandhi had authorized him
to negotiate with AAP to prevent a split in the anti-BJP votes.
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BJP COMPLAINS TO EC OVER ARJUN MODHWADIA'S REMARKS AGAINST PM
NARENDRA MODI
A day after Congress
leader Arjun Modhwadia wrote to the Election Commission demanding a complaint
be registered against prime minister Narendra Modi for seeking votes in the
name of martyrs, the Gujarat BJP complained to the EC against Modhwadia for
using unparliamentary language and words like 'donkey' while criticising the
PM. In a letter to EC on Wednesday, the state BJP's legal cell said that
Modhwadia's remarks were an insult to the constitutional post and a violation
of model code of conduct. Modhwadia during a public rally at Deesa town in
Banaskantha uttered unparliamentary, abusive and foul words against the PM by
describing him as a 'donkey. This is a clear violation of code of conduct and
an insult to the constitutional post, BJP said in the letter. The letter
claimed that Modhwadia had a record of using abusive language against the PM
since the 2002 state polls.
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PM MODI ATTACKS CONGRESS-JDS COALITION IN KARNATAKA; DUBS IT
AS ’20 PER CENT COMMISSION GOVT’
Narendra Modi Friday dubbed
it as a 20 per cent commission government. Modi said the Congress-JDS
coalition’s only mission is commission, attacking it on the issue of
corruption. Modi branded the earlier government (Siddaramaiah’s) as a 10 per
cent commision government, but now with Congress and JDS joining hands, it had
become a 20 per cent commission government. He asked whether the Lok Sabha
elections was about nation first or family first, as he attacked the dynasty
politics of several anti-BJP parties. Modi also asserted that there was a wave
across the country favouring the return of his government. In the first phase
of Lok Sabha polls on Thursday, the opposition parties would not be able to
sustain, Modi said. Phir Ek Bar Modi said, and the huge crowd roared in
approval saying, Modi Sarkar.
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PM MODI TO ADDRESS RALLY IN BENGALURU ON SATURDAY, BJP EXPECTS
2 LAKH PEOPLE
Prime Minister Narendra
Modi will address a BJP rally at Palace Grounds in Bengaluru on Saturday
evening. The rally is expected to start at around 4.30 pm. This is PM's second
rally in Karnataka in a space of four days. On Tuesday, he addressed campaign
rallies at Chitradurga and Mysuru. The party is expecting a turnout of two lakh
plus voters, and hence, has installed 11 large LCDs screens. According to
Ashok, as many as 11,000 people have registered through the online to
participate in the rally on Saturday.
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NO ONE CAN SEPARATE KASHMIR FROM INDIA TILL BJP EXISTS: SHAH
Amit Shah Friday asserted
no one can make India part with the state as long as the BJP exists Shah also
alleged that the Congress and other opposition parties are unhappy with the
success of the Indian Air Force's strike on terrorist camps at Balakot in
Pakistan in retaliation for the Pulwama terror attack. Omar Abdullah has
suggested appointing a separate prime minister for Kashmir. Is it possible to
have two PMs in a country? Can there be a second PM in Kashmir? Rahul Baba
(Gandhi) is silent on his poll ally Abdullah's suggestion (separate PM for
Kashmir). He has not uttered a word, Shah told. Asserting that Kashmir is an
inseparable and inalienable part of India, the BJP chief said, No one can take
away Kashmir from us. As long as the BJP exists, Kashmir will continue to be an
integral part of India. Lashing out at Gandhi family's close aide Sam Pitroda,
who advocated talks with terrorists, the BJP president asked, Tell me whether
we should hold a dialogue with terrorists or bomb them? If we get bullets from
Pakistan, we will retaliate with more lethal ammunition, he declared.
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CONGRESS ACCUSES SMRITI IRANI OF ‘FALSIFYING’ EDUCATIONAL
RECORDS
The Congress on Friday
called Smriti Irani a serial liar, and said that she should be disqualified
from contesting the polls. The party alleged that she had falsified records of
her educational qualification and submitted contradictory affidavits to the
Election Commission.Priyanka Chaturvedi also accused Ms. Irani of misusing her
influence and power as a Union Minister. Union Minister Smriti Irani, who had
been rubbishing Opposition’s claim that she is not a graduate, yesterday
[Thursday] accepted that she enrolled for an undergraduate course in Delhi
University, but did not complete it, she said. Chaturvedi, accusing her of
being guilty of offence under Section 125A and Section 33 of the Representation
of Peoples Act.
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MODI GOVT'S OFFICIALS INVOLVED IN BIGGEST MONEY LAUNDERING
SCAM, CLAIMS CONGRESS
Kapil Sibal, played out a
video clip of a sting operation in which, he claimed, a government official
said BJP’s top leadership was involved. The official, reportedly identified as
one Rahul Ratharekar from the government’s intelligence agency, claimed to an
undercover reporter that officials from 26 department were involved in the
money exchange operation. According to Indian media, the video was shot at a
Mumbai hotel in July last year. RBI’s deadline to exchange old currency expired
on December 31, 2016. A media outlet, citing Sibal, reported that the Indian
intelligence agency official said currency notes worth thousands of crores were
printed abroad and transported into India by special aircraft. According to
report, a team of government officials drawn from different departments were
engaged in the exchange of old notes for new post demonetisation. Another video
clip showed the official of a private bank carrying out the exchange of old
currency for new ones.
He, however, did not
authenticate the videos and maintained that all the names mentioned in the clip
were in the public domain and could be independently verified by the official.
Sibal was quoted as
saying: The government, CBI and ED will not arrest them, because ED
[Enforcement Directorate] protects those who loot the country.
The former Law Minister’s
press conference on Tuesday was said to be the second in a series on the issue
of demonetisation. On March 26, Sibal had reportedly played out another sting
by TNN, where an alleged BJP worker was involved in such an exchange of old
currency. Another Congress member Randeep Surjewala was quoted as saying: If
this is not ‘anti-national,’ then what is? Will the Supreme Court show the
courage to take note and hold the corrupt accountable?
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‘WHY IS SHARAD PAWAR SILENT ON THE ISSUE OF TWO PMS,’ NARENDRA
MODI ASKS IN AHMEDNAGAR
Targeting Nationalist
Congress Party (NCP) chief Sharad Pawar yet again, Prime Minister Narendra Modi
on Friday remarked as to why Mr. Pawar had allied with the Congress party which
in turn stood with those leaders wanting separate Prime Ministers for India and
Jammu and Kashmir. While I have no expectations from the Congress, I failed to
understand Sharadrao (Mr. Pawar). He had split the Congress [in 1999] to form
the NCP allegedly for the sake of the country. Yet today, he has allied with
the Congress and is silent and refuses to speak on those seeking two Prime
Ministers, one in India and one in J & K Mr. Pawar, how can you even sleep
after allying yourself with the Congress? said Mr. Modi, addressing a massive
rally in Ahmednagar city. Further targetting the NCP chief, the Prime Minister
said: Did you include the word ‘Nationalist’ in your newly formed party [the
formation of the NCP in 1999] merely to hoodwink the people of the country.
Since when have you begun viewing this country from a foreign prism. Each day
[of the UPA government in power] brought news of fresh scams. You [read the
electorate] will have to decide this time whether to vote for honest chowkidars
or corrupt dynastic politicians, Mr. Modi said.
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US, FRANCE AND UK GIVE 'ULTIMATUM' TO CHINA TO LIFT HOLD ON
MASOOD AZHAR: REPORT
The US, France and the UK
have asked China to lift its hold by 23 April on a resolution banning
Jaish-e-Mohammed chief Maulana Masood Azhar by the United Nations. China had on
14 March stalled a proposal co-sponsored by France, UK and the US to ban Azhar,
who group claimed responsibility for the 14 February suicide attack on an
Indian paramilitary convoy in Kashmir’s Pulwama region killing 40 personnel —
igniting tensions between India and Pakistan. Following China’s objection in
March, the US had circulated a resolution among the UN Security Council (UNSC)
members on banning Azhar by the UNSC. France, US and the UK had given an
ultimatum to China to lift its hold by 23 April on the proposal to ban Azhar
under the UN’s 1267 committee that sanctions terrorist groups like Al-Qaeda and
the Islamic States besides their affiliates. If China did not lift its hold by
then, the US would formally introduce its resolution on banning Azhar at the
UNSC bypassing the 1267 sanctions committee, the report said. Getting the
resolution to ban Azhar through the UNSC requires all five permanent members to
go along with it ie US, France, UK, Russia and China voting for the resolution
or China abstaining without vetoing the move. It also requires four other votes
in support of the resolution from the 10 non permanent members of the UNSC. Banning
Azhar under UN norms would mean placing strictures on his travel and activities
including collecting funds for his Jaish e Mohammed group. China’s hold on the
Azhar proposal in March was the fourth time it has blocked such a move. China
and Pakistan are self proclaimed all weather friends — something that has
caused deep disquiet in New Delhi. Lately Indian officials have said that New
Delhi was willing show patience as long as it takes and work to persuade
Beijing to ban Azhar.
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INDIA'S OIL IMPORTS FROM IRAN SLUMP 60% IN FEB Y/Y: SOURCES
India's oil imports from
Iran in February plunged by over 60 percent from a year ago to about 260,000
barrels per day (bpd) as New Delhi cuts imports under a sanctions waiver deal
with Washington, data compiled by Reuters showed. The United States introduced
sanctions aimed at crippling Iran's oil revenue-dependent economy in November
but gave a six-month waiver to eight nations, including India, which allowed
them to import some Iranian oil. India has been allowed by Washington to
continue to buy about 300,000 bpd oil till early May. India's February imports
from Iran were about 4 percent lower than January's purchases, the data showed.
Iran was the eighth biggest oil supplier to India in February compared with
seventh in January, and slipped from third position it held a year ago, the
data showed. In the first 11 months of this fiscal year that began in April,
India's oil imports from Iran rose by 5.6 percent to 486,400 bpd as refiners
boosted purchases ahead of the U.S. sanctions drawn by discounts offered by
Tehran, the data showed.
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CLIMBING CRUDE OIL PRICES PUT INFLATION OUTLOOK AT RISK
A rebound in oil prices
poses a risk to India’s benign inflation expectations that last week allowed
the central bank to deliver its second rate cut of 2019. With crude at a
five-month high, many investors are turning less confident about the Reserve
Bank of India’s pace of monetary easing, though a slowdown in economic growth
and subdued inflation still support an easing bias. The low headline print gave
Governor Shaktikanta Das and the rate-setting panel the space to cut rates by
25 basis points each in February and April to support the economy. Some
economists see room for one more reduction provided food and fuel costs do not
spike. Data due on Friday will probably show headline inflation quickened to
2.8 per cent last month from 2.5 per cent in February. The recent rise in crude
prices, if sustained, could pose a challenge to both economic growth and
inflation outlook, said Dharmakirti Joshi. Forecast for Brent, the benchmark
for half the world’s oil, has been lifted on the back of production cuts, and
the RBI sees prices being pushed up further should the US-China trade tensions
be resolved swiftly. The two sides are nearing a trade deal, with talks aimed
at clinching one within the next month continuing. A recent study by the
central bank showed a $10 rise from $65 a barrel will lead to a 49 basis points
increase in headline inflation, while a similar increase from $55 a barrel
would give around a 58 basis-point boost to headline inflation.
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US AGENCY CONDUCTS H-1B VISA LOTTERY FOR 2 LAKH APPLICATIONS,
OVERALL CHANCE OF SELECTION IS 42%
The number of applications
for the H-1B visa has risen slightly over last year, by a little over 10,000 to
close at 2.01 lakh for the current season 2019-20 (fiscal year 2020). The date
for accepting applications had commenced on April 1. For the fiscal 2020
season, which would permit successful visa beneficiaries to work in the US
earliest from October 1, United States Citizenship and Immigration Services
(USCIS) received 2.01 lakh applications, a slight rise of 5%, as against 1.90
lakh applications last season. This was disclosed by the USCIS in a release
issued late night on April 11. On April 5, the agency had announced that it had
received a sufficient number of H-1B cap applications to reach the annual
‘regular’ quota of 65,000. It had also announced that USCIS would determine if
it had received a sufficient number of applications to meet the masters’ cap. Annually
only 65,000 visas are allotted under the regular cap (also known as general
quota) and an additional 20,000 visas under the master’s cap (for those having
an advanced degree from US universities). For last filing season, which had
closed on April 6, 2018, USCIS had later announced that it had got 95,885
applications which were eligible for Masters cap. It has not yet disclosed this
figure for the current season. This year, at least 42% of cap filings will be
selected against the quota of 85,000, though USCIS typically accepts more than
the annual quota to account for cases that are ultimately denied or withdrawn.
The odds for advanced-degree cases are somewhat higher because these filings get
a second chance for selection if they are not chosen in the initial lottery,
states Fragomen, a global firm specialising in immigration laws.
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TRUMP'S SPACE FORCE COLLIDES WITH SKEPTICAL CONGRESS
The Space Force that
President Donald Trump wants to launch has run headlong into skeptical
lawmakers who questioned the need for a stand-alone military wing. Trump has
insisted that a separate branch of military is needed to focus on protecting
satellites, tackling vulnerabilities in space, and asserting US dominance in
orbit. Under a Pentagon proposal, the Space Force would be established as its
own branch of the military but would fall under the Air Force, similar to how
the Navy oversees the Marine Corps. Both China and Russia have weaponised space
with the intent to hold American capabilities at risk, Acting Defense Secretary
Patrick Shanahan told the Senate Armed Services Committee, whose endorsement he
sought for the new force. Not since the Air Force was stood up in 1947 has the
Pentagon created a new military branch. A Space Force would join the Army, Navy
and Marines as well as the Air Force. The bottom line is the next major
conflict may be won or lost in space, Shanahan told the committee on Thursday.
But lawmakers were less than clear on why setting up the force solely for
space-related matters made sense. I don't understand how putting a new box in
an organisational chart is going to help us to respond to the new challenge
that we face. I'm genuinely undecided, although as you can tell, I'm skeptical,
said independent Maine Senator Angus King. Republican Tom Cotton of Arkansas
wondered about the need for a new military service, as opposed to placing space
matters in an existing one. Can you explain why we need to put all space
assets, space forces into a separate service as opposed to a combatant command?
he asked. The Chairman of the Joint Chiefs of Staff, General Joseph Dunford,
recalled that a space force was first suggested two years ago and then
dismissed. At that time, Dunford said, he had his doubts but is now convinced
about the need for a separate force. General John Hyten, who heads US Strategic
Command, said creation of a Space Force is inevitable because every physical
domain we have when it becomes contested, we create a military service to deal
with that. What the committee must decide, he said, is when is that going to
happen. The Space Force would comprise about 20,000 personnel, grouping all
Pentagon military and civilians dealing with satellites, rockets, weapons and
technology related to space. This doesn't make any sense to me. I'm sorry, said
West Virginia Democrat Joe Manchin, who considered the Air Force's current
handling of space matters satisfactory. Democrat Elizabeth Warren, a
presidential hopeful from Massachusetts, said that all I see is how a new force
will create one more organization to ask Congress for money. And there is no
reason to believe that adding an entirely new Space Force bureaucracy and
pouring buckets more money into it is going to reduce our overall vulnerability
in space.
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PROSECUTORS TO QUIZ AMAZON CHIEF JEFF BEZOS ON SAUDI CLAIM
Federal prosecutors in New
York are planning to meet with Amazon CEO Jeff Bezos about his allegations that
the National Enquirer tried to blackmail him with help from Saudi Arabia, a
person familiar with the plans said on Thursday. The billionaire will meet with
prosecutors in the coming days as part of an inquiry into claims that the Saudi
government hacked his phone and obtained private information that ended up in
the tabloid's possession, the person told The Associated Press. The meeting
comes after Bezos' longtime security consultant, Gavin de Becker, told that
private investigators had concluded with high confidence that the Saudis had
access to Bezos' phone and gained private information. The Enquirer's parent
company, American Media Inc, has had business dealings with Saudi Arabia, but
the kingdom has denied any role in hacking Bezos' phone or providing his
private information to the Enquirer. Saudi Arabia's minister of state for
foreign affairs said recently that the kingdom had absolutely nothing to do
with the matter. This sounds to me like a soap opera, the minister, Adel
Al-Jubeir, told CBS' Face the Nation. This is something between the two
parties. Bezos, the world's richest man, has said the Enquirer threatened to
publish explicit photographs of him unless he publicly declared that the
tabloid's coverage of him was not politically motivated and stopped
investigating how it obtained private texts between Bezos and his mistress,
former TV anchor Lauren Sanchez.
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JAPAN COURT SAYS CARLOS GHOSN DETENTION EXTENDED UNTIL 22
APRIL
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
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