NO GOLD SHIFTED OUTSIDE INDIA IN 2014 OR THEREAFTER: RBI
The Reserve Bank of India
(RBI) on Friday said no gold was shifted outside the country in 2014 or
thereafter. The statement comes against the backdrop of reports in certain
sections of the print and social media regarding the central bank shifting
abroad a part of its gold holding in 2014. It is a normal practice for central
banks world over to keep their gold reserves overseas with central banks of
other countries like Bank of England for safe custody, according to the
statement. Thus the media reports cited above are factually incorrect, the
statement said. The Congress party had tweeted a report regarding shifting of
200 tonne of the RBI’s gold to Switzerland in 2014.
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RBI SLAPS PENALTY ON VODAFONE M-PESA, PHONEPE AND 3 OTHERS
The Reserve Bank of India
Friday said it has imposed penalties on five prepaid payment instrument (PPI)
issuers including Vodafone m-pesa and PhonePe, for violation of regulatory
norms. Also, penalties have been imposed on Western Union Financial Services
Inc and MoneyGram Payment Systems Inc, both US firms, for non-compliance of
guidelines. In exercise of powers vested under Section 30 of the Payment and
Settlement Systems Act, 2007, the Reserve Bank of India (RBI) has imposed
monetary penalty on five PPI Issuers for non-compliance of regulatory
guidelines the central bank said in a statement. A penalty of Rs 3.05 crore has
been imposed on Vodafone m-pesa and Rs 1 crore each on Mobile Payments,
PhonePe, Private and GI Technology. Also, a penalty of Rs 5 lakh has been
imposed on Y-Cash Software Solutions. In another statement, the RBI said it has
imposed penalty of Rs 29,66,959 and Rs 10,11,653 on Western Union Financial
Services Inc, USA, and MoneyGram Payment Systems Inc, USA, respectively, for
non-compliance of regulatory guidelines.
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EPFO MAY MOVE SUPREME COURT AGAINST HIGH PENSION
If you were celebrating
the prospects of higher pension from the Employees Provident Fund Organisation
(EPFO) after the Kerala High Court ruling, here’s some bad news. The EPFO is
reportedly planning to challenge the high court order in the Supreme Court
Under the existing rules, a person covered by the Employees’ Pension Scheme of
the EPFO will be paid a monthly pension based on his last drawn salary. But the
salary used to calculate pension is capped at Rs 15,000 a month. The Kerala HC
had directed the retirement body to remove the cap and pay pension based on the
full salary of the worker. EPFO officials argue that the monthly contribution
to the EPS pool is too low and will not be able to sustain the higher pension.
They point out that a cash crunch has already forced the EPFO to shelve a plan
to double the minimum pension from Rs 1,000 to Rs 2,000. Right now, workers
covered by EPFO contribute 12% of their salary to the Provident Fund and an
equal amount is contributed by their employers. Of the 12% contributed by the
employer, 8.33% goes into the EPS. But this amount is capped at Rs 1,250 a
month. If a worker desires a higher pension equal to 50% of his last drawn
salary, the entire 8.33% of his basic salary will have to flow into the EPS.
That’s not all. Such workers will also have to make good the arrears of the
previous years by shifting money from their Provident Fund accounts to the EPS.
This will reopen the books and pose a computation challenge to the EPFO.
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GOVERNMENT WANTS SUPREME COURT TO TAKE ACTION AGAINST WHATSAPP
FOR FLOUTING RBI RULES
The government on Friday urged
the Supreme Court to take action against WhatsApp for operating in India its
payment service without complying with the RBI’s data localisation norms a
charge WhatsApp denied, but the court said that it would first examine the
issue in depth before taking a call on the legality of it or otherwise. Think
tank Centre for Accountability and Systemic Change had challenged WhatsApp’s
decision not to have an India grievance officer while doing business in the
country. It had also challenged WhatsApp’s decision to conduct trial runs in
the country without complying with data localisation norms. The PIL, which is
being heard by Justices RF Nariman and Vineet Sharan, will now be heard in the
third week of July. The bench said that it would hear arguments at length from
all sides and take a call on the issue. Counsel for the think tank Virag Gupta
argued that even the data related to trials involving one million users must be
housed in India. He alleged that this was violative of the National Payments
Corporation of India’s nod to WhatsApp to operate in India. As per the RBI’s
circular of April 6, 2018, he said, data cannot be kept outside India. WhatsApp
counsel senior advocate Kapil Sibal denied any formal agreement between the
company and the NPCI. Senior advocate Arvind Datar insisted that WhatsApp was
only having a trial run which would be completed by July and any payment
service would not be introduced without first obtaining the RBI’s mandatory
nod. Solicitor General Tushar Mehta also sought prosecution of the company for
failing to abide by the RBI’s data localisation norms which mandate it to house
the data in India. He also objected to WhatsApp grievance officer not sitting
in India. The bench, however, said that it would examine the issue at length first.
Don’t worry. Our arms are longest. They would not escape the law (if they are
wrong), Justice Nariman said.
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PAYMENT SERVICE WILL BE LAUNCHED AFTER COMPLYING WITH RBI
NORMS: WHATSAPP TO SC
WhatsApp on Friday told
the Supreme Court that it is conducting a trial run of its payment service and
will comply with the Reserve Bank of India (RBI) norms on data localisation
before launching the full service. The trial run is likely to be completed by
July end this year, it said. A bench of Justices R F Nariman and Vineet Saran
was hearing a plea filed by a non-governmental organisation (NGO), Centre for
Accountability and Systemic Change (CASC), which has claimed that WhatsApp has
not fully complied with RBI’s circular which prescribed data localisation
norms. Kapil Sibal and Arvind Datar, appearing for the messenger app owned by
US-based Facebook, told the bench that they are only having a trial run which
is likely to be completed by July and it will not launch payments services
without fully complying with RBI norms. We cannot launch the product without
complying with the norms, Sibal said. Virag Gupta, appearing for the NGO, said
that WhatsApp was allowed to run the trial of its payments services with one
million users. Relying on the RBI’s circular of April 6, 2018, he said that
trial data of users cannot be allowed to be kept outside India. This may be violative
of permission granted by National Payment Corporations of India (NPCI) to
Whatsapp, he said. Sibal said there was no formal agreement between WhatsApp
and NPCI till now. Tushar Mehta, appearing for the Centre, said that WhatsApp
was not complying with data localisation norms which is evident from the
affidavit filed by the RBI. To this, the bench said that if norms laid down by
RBI are not followed by Whatsapp, then it can be prosecuted. Don’t worry our
arms are long enough. They cannot escape the law, it said and added that the
issue requires detailed hearing and listed the matter in July.
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JOBLESS RATE HIGHEST SINCE OCTOBER 2016: CMIE DATA
India’s unemployment rate
in April rose to 7.6% the highest since October 2016, and up from 6.7% in
March, according to data compiled by the Centre for Monitoring Indian Economy (CMIE).
The lower unemployment rate in March was a blip, and it has again climbed
following the trend of earlier months, Mahesh Vyas, said. The figures could be
a setback for PM Narendra Modi during a general election that will end on May
19, with opposition parties criticising the government over weak farm prices
and low job growth. The government recently withheld jobs data because
officials said they needed to check its veracity. India usually releases
official unemployment data every five years. But December unemployment figures
were leaked and showed that the jobless rate rose to its highest level in at
least 45 years in 2017-18. The government has said it will release jobs data
once a year. CMIE said in a report released in January that nearly 11 million
people lost jobs in 2018 after the demonetisation in late 2016, and new goods
and services tax (GST) in 2017 hit millions of small businesses.
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FINANCE MINISTRY TO TAKE CALL ON BANK RECAP AFTER SEPTEMBER
The Finance Ministry will review
the capital infusion requirements of PSU banks after September and there will
be separate allocation for recapitalisation in the general Budget likely to be
presented in July. Sources said the interim Budget did not have the provision
for any recap from April to July as the banks were adequately capitalised till
September. According to official sources, by September (end of second quarter),
the capital position with regard to the regulatory requirements and growth of
all the PSU banks which received funds in 2018-19 will be clear. The remaining
PCA (Prompt Corrective Action) banks will also require fresh funds to come out
of the Reserve Bank of India's (RBI) framework for weak banks. But for this,
the banks would have to match the performance parameter targets required for
PCA removal and would have to show improved performance.
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CIC POSTPONES HEARING ON REFUSAL OF PMO TO GIVE DETAILS OF
GRAFT COMPLAINTS AGAINST MINISTERS
Citing paucity of time,
the Central Information Commission (CIC) has postponed till mid-June the
hearing on an appeal against the PMO's refusal to disclose details of
corruption complaints against Union ministers. The transparency watchdog was hearing
an appeal filed by whistle blower bureaucrat Sanjiv Chaturvedi after being
denied the information on the graft complaints against the ministers and on
other queries by the Prime Minister's Office despite the CIC's order. Replying
to an RTI application filed by Chaturvedi, the PMO had in October last year
said it receives complaints against various Union ministers and high-level
functionaries from time to time. These complaints received relate to a variety
of matters including corruption related and non-corruption related matters. To
identify, examine and categorise each of these complaints as corruption related
complaints may be a subjective as well as a cumbersome exercise, the PMO had
said citing Section 7 (9) of the Right to Information Act to justify the
denial. The section says an information shall ordinarily be provided in the
form in which it is sought unless it would disproportionately divert the
resources of the public authority or would be detrimental to the safety or
preservation of the record in question. Aggrieved over the reply, Chaturvedi
had approached the CIC. In his submission to the Commission, he had said the PMO
cannot deny the information under Section 7 (9) of the RTI Act. The information
can only be denied under Section 8(1) of the act, Chaturvedi said. The
Commission, after hearing the submissions of both the parties and perusing the
records, observes that due to paucity of time, the hearing in the matter could
not be concluded. Therefore, the matter is adjourned to June 17, 2019, said
Sudhir Bhargava, Chief Information Commissioner, in an order dated May 1.
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SUBMIT EXPENDITURE DETAILS IN 90 DAYS: POLL OFFICIALS TO MNS
The Maharashtra Navnirman
Sena (MNS) has been asked to submit details within 90 days of expenses incurred
on the election rallies of its president Raj Thackeray. An election official
said the notice for submission of election expenditure was issued after
consultations with the Election Commission following a complaint from the BJP
demanding that expenditure incurred on MNS rallies be shown in the accounts of
opposition candidates in the nine Lok Sabha constituencies where Raj Thackeray
addressed rallies. We sought guidance regarding the complaint and were told
that the MNS is a registered political party and should give details of the
expenses incurred on its election rallies. The notices to this effect are being
sent to Raj Thackeray through district collectors of the areas where he
addressed rallies, the official said. The official said this was a routine
procedure and all national, state and registered parties have to submit their
statement of accounts. Though the MNS is not contesting Lok Sabha elections,
Thackeray held nine rallies in Maharashtra last month, in which he attacked the
BJP governments at the Centre and in the state and asked people not to vote for
Prime Minister Narendra Modi and BJP president Amit Shah. The BJP had written
to the state's Chief Electoral Officer (CEO) demanding that the expenses of Raj
Thackeray's campaign rallies be added to the accounts of the Congress-NCP
candidates who were in fray against the BJP-Sena nominees.
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NATIONAL COMPANY LAW TRIBUNAL GETS 14 JUDICIAL MEMBERS AND 10
TECHNICAL MEMBERS
Based on recommendations
of the Selection Committee, the Appointments Committee of the Union Cabinet has
approved the appointment of 14 judicial members and 10 technical members for
the National Company Law Tribunal for a term of three years.
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NON-PAYMENT BY DEVELOPERS HITS DELHI-NCR BROKERS HARD
Property brokers in
Delhi-NCR are grappling with non-payment from builders while those in other top
residential markets are facing delayed payments, the Association of Certified
Realtors of India (ACRI) has alleged. According to the industry body, over the
last few years, several brokers have lost on brokerage due to non-payment by
developers in the backdrop of the financial crunch in the realty market.
Sometimes, builders offer a flat to recover the brokerage and also pay in small
instalments. Developers are not sensitive to our hard work. There are many
people who had to leave the trade, said Ravinder Aggarwal. In some cases, the
delay in payment has been up to five years, according to ACRI, which said it
now takes a minimum of three to six months to receive payments from builders
once the deal is concluded, compared with 30 days earlier. Once 10% payment is
received from the buyer, the developers have to pay brokerage to the brokers,
said Ashwin Chawwla, that helps home buyers use an escrow account in a tieup
with ICICI Bank and Axis Bank. Brokers get their payment through the escrow
account once the deal is concluded. Broker across the country are grappling
with a slowdown in sales and what they allege is builders’ refusal to pay goods
and services tax (GST) on sales. We have appealed to the housing ministry to
reduce the 18% GST levied on brokers on the brokerage they earn from builders
on each transaction, said ACRI’s Aggarwal.
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16% MARATHA QUOTA NOT APPLICABLE TO PG MEDICAL ADMISSIONS THIS
YEAR, SAYS HC
THE NAGPUR bench of the
Bombay High Court on Thursday held that the 16 per cent reservation granted to
the Maratha community will not apply to postgraduate medical admissions this
year, as the Socially and Educationally Backward Class Act, 2018 — which
effected the reservation — came into force after the admission procedure had
already begun. The court was of the view that the reservation applied in the
admissions to postgraduation courses in medical sciences this year is arbitrary
and deserves to be quashed and set aside. A Division Bench of Justice Sunil B
Shukre and Justice Pushpa Ganediwala held, the revised seat matrix published on
27.3.2019 providing for reservation of SEBC (Socially and Educationally
Backward Class) candidates has to be held and is held as arbitrary, violative
of the mandate as it creates unequal competition and violates principles of
rule of law, hit by the rigor of Articles 14 and 21 of the Constitution of
India and as such deserves to be quashed and set aside. The petitions were
moved by Dr Sanjana Wadewale and several Bachelor of Dental Surgery and
Bachelor of Medicine graduates. The students informed the court of a
notification issued by the state on March 8, announcing 16 per cent reservation
of seats for SEBC, including the Marathas, in educational institutions. The
petitioners added that the notification had affected the ongoing admission
process for postgraduation courses in MDS, MD, MS and Diploma in Medical
Sciences for 2019. The bench held: Those medical admissions in which the
procedure for entrance test has already been initiated would not be affected by
the applicability of the Act. The court said that in this case, the procedure
for entrance test has begun on October 16, 2018 for MDS (Master of Dental
Surgery) course and on November 2, 2018 for MD/MS/PG courses. This was well
before November 30, 2018 — the date of the commencement of the Act. The court added
that there was no delay caused by the petitioners as alleged by the state
government in filing the petition. The bench held, This procedure was for
holding of the entrance test and not for filling seats in the state quota.
Therefore, the provisions of the Act would have no application to the current
admission process. If such an interpretation is not given, the whole provision
of Section 16 (2) of the Act would turn into a dead letter of law, thereby
rendering the legislative intent to be redundant.
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BOEING 737 WITH 136 ON BOARD CRASHES INTO A RIVER OFF THE
RUNWAY IN US
A Boeing 737 plane
arriving from Cuba crashed into a river off the runway near Jacksonville,
Florida, according to the Naval Air Station. The lives of all aboard had been
accounted for and teams were working to control jet fuel in the water, Mayor
Lenny Curry said in a Twitter post. The plane was carrying 136 people, Reuters
reported, citing a spokesman for Naval Air Station.' The aircraft arrived from
Naval Station Guantanamo Bay, Cuba, at Naval Air Station Jacksonville, before
sliding off the runway into the St. Johns River, Naval Air Station Jacksonville
said in a post on its Facebook page.
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AGAINST CRONY CAPITALISM, NOT CORPORATES: RAHUL GANDHI
Rahul Gandhi has disputed
the notion that he is anti-business, calling it an absurd idea. He, however,
told that he has a problem with crony capitalism of the kind he claimed was
followed in awarding the offsets contract in the Rafale deal. I want to be very
clear — there are large numbers of Indian corporates who India should be
absolutely proud of and protect. You can’t build a modern nation without
corporates, so it’s an absurd idea that Rahul Gandhi doesn’t like corporates.
It’s crazy. I am absolutely convinced that India has to be developed and grown
keeping in mind all stakeholders, he told. Gandhi said he stood for fairness
and would not hesitate to back companies if such a need arose. My point is
there should be fairness. Wherever there is pain, I will go. It doesn’t matter
who is hurting — big business, small business, shopkeepers, farmers. And if
tomorrow I find that the honest corporates of this country are in pain, I will
be the first person to defend them. At the same time, Gandhi singled out
Reliance Group promoter Anil Ambani to explain where his discomfiture lay. But,
there are also crony capitalists like Anil Ambani, who are dishonest and who
are the problem. The Congress president exuded confidence that he will be able
to put in place a simplified GST if his party comes to power. We are pretty
confident that we’ll be able to deliver a simplified GST — one tax, minimum
tax, covering larger parts of the Indian economy, he said. Further, Gandhi
accused the government of using Aadhaar for surveillance. We view the
instrument as something that liberates India, that helps India flower. The PM
views Aadhaar as something that allows him to see what people are doing, what
they’re saying, what they’re spending (on), what they’re buying. So we’re
against that aspect of Aadhaar. We want it to be an instrument of the Indian
people, but we don’t want it to become a weapon of surveillance. On the
question of land acquisition for government and private projects, Gandhi feels
the need for a conversation among stakeholders — the government, farmers and
corporates. I actually think that partnership between farmers, corporates and
small and medium businesses is the way forward. A conversation is required, he
added. He also called for similar discussion on reservations in the private
sector, assuring that the Congress will not act without consultations. I would
like a discussion on it. I don’t do politics based on what I think should be
done. I don’t do politics like Mr Modi, who thought demonetisation should be
done and went ahead and did it without consulting anyone. Talking about the
challenge from China and Chinese goods flooding Indian markets, Gandhi said
there are serious problems with the Chinese business model, which is being felt
across the globe and, in turn, creating an opportunity for India. If we lay the
groundwork properly, we will become a competitor to China. But we are losing
the opportunity because we’re not being strategic.
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JET AIRWAYS MIGHT LOSE FOREIGN FLYING RIGHTS SOON
The government is likely
to start distributing foreign flying rights of Jet Airways among other carriers
towards the end of next week if the airline does not find new owners quickly.
We plan to award the rights to airlines which have put in requests, said an
aviation ministry official who did not wish to be identified. The demands are
primarily for destinations such as Singapore, Thailand and the Middle East, he
added. The move is likely to worry prospective bidders for Jet who are banking
on the stricken airline’s ability to retain lucrative flying rights and slots
at airports. The official added that they had a meeting with airlines on the
issue and have been assured that the carriers will return the routes allocated
to them when demanded by the government and Jet Airways. We would have liked to
award these routes to other carriers as early as possible but we have decided
to wait till Jet Airways finds a buyer, as we got requests from various quarters
to not award these rights right now, said the official. Employees and banks
have written to the government to protect the interests of Jet Airways till the
time a winner is chosen. Jet received initial interests from Etihad, TPG and
NIIF but none of them have initiated the process further to bid for the
airline. Foreign flying quota between India and countries such as Dubai, Qatar
and Singapore have got exhausted and the governments of these countries have
been seeking an increase from the Indian government, which has refused to raise
the quota. Foreign flying quota is measured in terms of seats per week airlines
can operate. With Jet’s grounding, a large number of seats will come back to
the system and can be reallocated to other Indian carriers which can add
flights on these routes. A senior Directorate General of Civil Aviation
official added that the government and the regulator’s initial focus was to
stabilise domestic operations. With new flight launches and plans, the domestic
sector is stabilising but problem in the international routes is severe and
these rights will need to be awarded to stabilise the situation, the official
said on condition of anonymity. Among Indian carriers flying international, Jet
Airways was the second-largest after Air India and its grounding has created a
huge gap in demand and supply of seats on international routes. Due to the
mismatch, fares on international routes to and from India are already about 35%
higher and is set to go up further with the peak travel season approaching.
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14,231 CANDIDATES TAKE HARYANA CIVIL JUDGE TEST, JUST 9 MAKE
IT TO LAST LEG
In what could possibly be
one of the toughest selection processes for a job in the world only nine out of
the 14,231 candidates who appeared for the three-tier examination for
recruitment of junior division civil judge in Haryana have made it past the
first two levels. The Supreme Court took note of the extremely rigorous
standards and sought a response from the Punjab and Haryana High Court. It also
asked retired SC judge A K Sikri to randomly check answer sheets of the 1,195
candidates who took the main examination. In response to an advertisement
issued by the Punjab and Haryana HC in March 2017 inviting candidates to appear
in a three-stage screening-cum-examination system — preliminary, main and
interview — 34,000 law graduates applied for 109 posts of civil judge (junior
division), which is the entry-level post in judiciary. In August 2017, the
number of posts was reduced to 107. Of those who applied, 32,230 were found
eligible to take the preliminary examination. The exam was held nine months
after the date of advertisement and only 14,231 took the preliminary test. On
January 16 this year, the HC shortlisted 1,451 candidates from among those who
appeared. Of the shortlisted ones, 1,282 candidates were found eligible to
appear for the main exam conducted by Haryana Public Service Commission. The
main examination was held on March 15 and 1,195 candidates appeared for it. On
April 11, the results were declared and just nine were picked for the
interview. The final stage of the recruitment process is not complete and yet
more than 99% of candidates who appeared for the test have been eliminated.
Thus, out of 34,000 who applied, only 0.026% were held eligible for the
interview and out of 14,231 who actually appeared in the preliminary
examination, only 0.06% succeeded in getting through the two-tier process and
went through to the interview round. After a petition brought the matter to its
notice, the SC sought a response from the Punjab and Haryana HC and asked its
registrar general to be present in court. On Friday, senior advocate Maninder
Singh and advocate Prabhas Bajaj appeared for the HC and gave statistical
details of the examination to a bench of Chief Justice Ranjan Gogoi and Justice
Deepak Gupta. Singh agreed to an independent scrutiny of the evaluation system
and the bench asked retired SC judge A K Sikri to randomly check answer sheets
of the 1,195 candidates who took the main examination. We request Justice Sikri
to look into some of the answer scripts of the main written examination at his
discretion to make an assessment whether the evaluation undertaken should be
accepted by the court. The HC will place before Justice Sikri the answer
scripts of all the candidates who have appeared in the main written
examination, out of which, at his discretion, he may select some of the answer
scripts for further evaluation. We request Justice Sikri to communicate his
views and findings at the earliest, the bench said.
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RS 4,412-CRORE DROUGHT RELIEF FUND DISBURSED TO 68 LAKH
FARMERS: CM FADNAVIS
Two days after writing to
the Election Commission to relax the model code of conduct in order to fast
track drought relief measures, Devendra Fadnavis on Thursday directed all
ministers to tour their respective districts to provide relief and announced
that Rs 4,412-crore funds have been disbursed to 68 lakh farmers so far. Fadnavis
issued the directive while chairing a Cabinet meeting to discuss short and
long-term measures for drought mitigation. The Cabinet also discussed and
adopted a resolution condemning the Naxal attack against 15 police personnel
and a private vehicle driver at Gadchiroli. Chief minister said, The India
Meteorological Department’s prediction of a possibly delayed monsoon was a
cause for concern. Even if the monsoon is delayed by a week or fortnight, it
would call for greater preparations to meet all the challenges, especially
sustained supply of drinking water and cattle fodder. Apart from this, Rs 3,200
crore under the Prime Minister Crop Insurance would also be disbursed to
eligible farmers shortly, he said. On relief measures for cattle, the chief
minister said, Rs 90 has been sanctioned per day for big animals, and Rs 45 per
day for smaller animals. It is slightly higher than the National Disaster
Relief Fund (NDRF) guidelines. Since fodder cultivation was carried out on 58
lakh hectares of land, in anticipation of a summer crisis, the chief minister
said there was no shortage on that front. On low water levels in dams across
Maharashtra, Fadnavis said, At Jaikwadi, live water stock is over. The water is
being drawn from dead level. But there is still plenty of water. In
drought-prone districts, people are being enrolled under the Mahatma Gandhi
National Rural Employment Guarantee Act (MGNREGA). At the moment, 2.75 to 3
lakh people are enrolled under the scheme.
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CENTRE EFFECTS SENIOR-LEVEL BUREAUCRATIC REJIG
As many as 10 additional
secretaries have been appointed in various central government departments as
part of a senior-level bureaucratic reshuffle effected by the Centre. IAS
officer Vijoy Kumar Singh has been appointed additional secretary and financial
adviser in the Ministry of Textiles, an order issued by the Ministry of
Personnel said. Currently, he is the joint secretary at the Department of
Personnel and Training. Anurag Agarwal has been named additional secretary and
financial adviser in the Ministry of Power. Agarwal, at present, is the joint
secretary, Ministry of Corporate Affairs. Meenakshi Sharma, a 1988-batch
officer of the Indian Audit and Accounts Service, has been appointed director
general (tourism). She, at present, is additional director general (tourism). IAS
officer Sanjay A Chahande has been named textile commissioner, Ministry of
Textiles. He is currently deputy director general, Unique Identification
Authority of India, Mumbai. Ravi Agrawal, joint secretary in the Department of
Investment and Public Asset Management, will now be the additional secretary,
Ministry of Environment, Forest and Climate Change. The posts held by a few
officers have been upgraded to the level of additional secretary by the
government. Bharat Lal, joint secretary to President Ram Nath Kovind, will now
be the additional secretary to the president. He is a 1988-batch Indian Forest
Service officer of the Gujarat cadre. Annie George Mathew and Meera Swarup,
both joint secretary in the Department of Expenditure, have been made the
additional secretary in the same department. Deputy Election Commissioner
Sandeep Saxena has been promoted as the additional secretary at the same post. IAS
officer Arun Baroka, who served as the joint secretary in the Ministry of
Drinking Water and Sanitation, will now be the additional secretary in the same
ministry.
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US ADDS 263,000 NEW JOBS IN APRIL, UNEMPLOYMENT FALLS TO 3.6%,
49-YEAR LOW
The United States had
another giant month of job creation in April, with strong hiring in the vast
service sector while unemployment fell to a level not seen since 1969, the
government reported Friday. Employers added a total of 263,000 workers for the
month, well above economists' expectations, while worker pay continued to
climb. The jobless rate fell two tenths to 3.6 percent but this was in part
because the pool of workers shrank and fewer people were looking for jobs,
pulling them out of the labor force.
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DELHI GOVT EXTENDS BAN ON MANUFACTURE, SALE OF GUTKHA, PAN
MASALA, TOBACCO PRODUCTS FOR ONE YEAR
The Delhi government has extended
the ban on manufacture, storage, sale or distribution of gutkha, pan masala and
any other tobacco products for one year in the national capital. The Food
Safety Department has issued a notification extending the ban on these
products. The notification has been issued by Food Safety Commissioner L R
Garg. Commissioner (Food Safety), National Capital Territory of Delhi,
prohibits in the interest of public health for a period of one year in NCT the
manufacture, storage, distribution, or sale of tobacco which is either
flavoured, scented or mixed with any of the said additives, and whether going
by the name or form of gutkha, pan masala, flavoured/scented tobacco, kharra it
stated. No such ban, however, will be enforced on cigarettes.
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THIS COUNTRY’S CURRENCY NOTE WAS NAMED WORLD’S BEST
Canadian $10 bill has been
adjudged as the best bank note for 2018 by the International Bank Note Society
(IBNS). Bank of Canada’s note, featuring civil rights activist Viola Desmond,
beat 15 other banknotes from countries such as Switzerland, Norway and Russia.
The IBNS Banknote of the Year award is an initiative to recognise an
exceptional banknote issued every year, IBNS said on its official website.
Globally renowned social justice icon Viola Desmond has been featured on the
note, on whose back the Canadian Museum for Human Rights in Winnipeg, Manitoba
has been printed. The Nova Scotia businesswoman, in the year 1946, became a
symbol of resistance in Canada’s early civil rights movement after she refused
to make exit from the whites-only area of a movie theatre. The Canadian Bank
Note Company has printed the currency note in the same purple colour used in
the earlier horizontal version of $10 polymer note. The size of the note is
just larger than currency bills printed by the United States (US). The Canadian
$10 bill are easy to check and tough to counterfeit, IBNS also said. The note
used the best technological standards and security features, it added. The
first IBNS Bank Note of the Year Award held in 2004 was also won by Canada. and
finished second three years in a row In 2011, 2012 and 2013, the country
finished second for consective three years. It stood in the third place in the
previous year. Switzerland (200 Franc human hands), Norway (500 Kroner sailing
ship), Russia (100 Ruble soccer) and the Solomon Islands (40 Dollar man blowing
conch shell) were the runner ups in the competition.
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OVER ₹1,000 CR RELEASED IN ADVANCE FOR STATES
AFFECTED BY CYCLONE FANI: MODI
Narendra Modi on Friday
said over ₹1,000 crore had been released in advance for the States
affected by cyclone Fani. Modi said as the ‘extremely severe’ cyclonic storm
hit Odisha on Friday morning. Lakhs of families are affected by the cyclone in
the coastal areas of Odisha, West Bengal, Andhra Pradesh, Tamil Nadu and
Puducherry and the Centre is in touch with the state governments. I got the
latest update from officers sometime ago and also held a detailed review
meeting yesterday. More than ₹1,000 crore have been released in advance, he said. The
National Disaster Response Force (NDRF), the Indian Coast Guard, the Navy and
the Army were engaged in the relief works, he pointed out. I want to assure the
people of the cyclone-affected states that the entire country and the Centre
are standing by the affected families and the state governments, Mr. Modi said.
The Prime Minister also ramped up his attack against the Congress, saying the
party is distraught about Jaish-e-Mohammed (JeM) chief Masood Azhar being
declared as an international terrorist during the election and is questioning
the timing of the announcement. He alleged that the opposition party is unhappy
with India’s security situation. Instead of celebrating the decision of the
United Nations (UN) designating the JeM chief as an international terrorist,
the opposition party is questioning its timing, the Prime Minister said. Should
the UN ask the Congress, should it consult ‘Madam’ or ‘Naamdar’, before
declaring him as a global terrorist?, he asked the gathering, in a mocking
reference to UPA chairperson Sonia Gandhi and Congress president Rahul Gandhi. Questioning
the Congress’s response to the development, he said the decision on the Pakistan-based
terrorist was not taken by the ruling Bharatiya Janata Party (BJP). Modi said.
India’s biggest enemy, Masood Azhar, who had been wounding India for several
years, was declared an international terrorist two days ago, he said, adding
that the UN declaring the JeM chief as an international terrorist was the third
surgical strike on Pakistan. Have I dealt with Pakistan’s arrogance or not?, he
asked the crowd.
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CEMENT COMPANIES TO FACE ACTION FOR TRUCK OVER-LOADING IN
CHHATTISGARH
Truck over-loaded with
cement bags would now land even the manufacturer of the product into trouble in
Chhattisgarh. The state government had taken a decision to lodge an First
Information Report (FIR) with the police against a cement company if vehicle
ferrying its product is intercepted with over load. The company would face
legal action for damaging the state’s resources as over-loaded trucks ruin
roads. For the first time since the inception of the state in November 2000,
the Chattisgarh government cracked the whip on the cement industry.
Chhattisgarh accounts for about 15 per cent of India's total cement output. All
major cement players have a facility in the state that had been endowed with
high-grade limestone reserves. The cement manufacturers cannot escape from
their responsibility if trucks loaded beyond prescribed capacity roll out from
its facility, a senior official with the transport department said. Two cement
companies (the names were not revealed) have been booked for the violation of
norms, the official added. The action is seen as the new government’s
initiative to tightening grip on the cement industry. The manufacturers had
hikes cement prices last four months that coincided the change of guard,
reportedly after forming a cartel. The cement price in Chhattisgarh reached Rs
270 per bag, a hike of about Rs 23 after the UPA government came to power. The
sluggish demand following infrastructure development projects coming to a halt
was cited as one of the reasons for the increase. The manufacturers were
planning further hike. However, the state government pressure yielded results
as cement price were slashed to Rs 247 per bag.
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CUTTING DIRTY FUEL USE MAY SAVE 2.7 LAKH LIVES ANNUALLY IN
INDIA: STUDY
India could make a major
dent in air pollution and save about 270,000 lives a year by curbing emissions
from dirty household fuels such as wood, dung, coal and kerosene, a study
co-led by researchers from IIT Delhi has found. Eliminating emissions from
these sources -- without any changes to industrial or vehicle emissions --
would bring the average outdoor air pollution levels below the country's air
quality standard, according to the study published in the journal Proceedings
of the National Academy of Sciences. Mitigating the use of household fuels
could also reduce air pollution-related deaths in the country by about 13 per
cent, which is equivalent to saving about 270,000 lives a year, said
researchers, including Sagnik Dey of the Indian Institute of Technology (IIT)
Delhi. Household fuels are the single biggest source of outdoor air pollution
in India, said Kirk R Smith. We looked at what would happen if they only
cleaned up households, and we came to this counterintuitive result that the
whole country would reach national air pollution standards if they did that,
Smith said in a statement. In many rural areas of the world where electricity
and gas lines are scarce, the bulk of air pollution originates from burning
biomass, such as wood, cow dung or crop residues to cook and heat the home, and
from burning kerosene for lighting. There are 3,000 chemicals that have been
identified in wood smoke, and taken at a macro level, it is very similar to
tobacco smoke, Smith said. In 2016, India instituted a national programme to
distribute clean burning stoves and propane to 80 million impoverished
households, or about 500 million people, researchers said. The rationale behind
this programme was to prevent illness due to cooking and heating smoke trapped
within the home.
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SC REMARK ON ‘FOREIGNERS’ DETENTION IN ASSAM DEFIES
CONSTITUTIONAL OBLIGATIONS: RIGHTS BODY
A rights body, comprising
a retired Supreme Court judge and a former Assam police chief, has said the
apex court’s remark on the detention of ‘foreigners’ in Assam was unfortunate
and flies in the face of India’s constitutional and international obligations.
One of the reasons, the Commonwealth Human Rights Initiative (CHRI) has pointed
out, is that accounts from Assam indicate arbitrariness and not rule of law is
often used to define those who came post 1971 from Bangladesh — of whatever
religious denomination — and those who are Indian nationals. Lakhs are in limbo
and now fear that they may become stateless because of a process that is mired
in a mix of complexity, confusion, lack of precision and prejudice, a statement
issued by the CHRI on Thursday night said. The Supreme Court needs to reaffirm
India’s constitutional and international obligations to rights on complex
issues of nationality, detention and deportation and not be unmindful of its
own commitment to these duties, the CHRI said. As concerned citizens, we look
to the Supreme Court to reaffirm India’s constitutional and international
obligations to rights on sensitive issues. That is why we are disappointed by
recent statements by the Chief Justice of India on a complex matter relating to
illegal detention and deportation, without heeding India’s own constitutional
and international obligations, it said. The statement was in reference to Chief
Justice of India Ranjan Gogoi’s admonition of Assam Chief Secretary Alok Kumar
for proposing a methodology for the release of a handful of foreign prisoners
who had been in detention beyond their term of sentence for illegal entry. The
rebuke was while advocating greater detention of suspected ‘foreigners’. We
regard these remarks as unfortunate as the case concerned the wilful violation
of the human rights of hundreds of detainees who were languishing in what the
court itself accepts are inhuman conditions, the CHRI said, referring to
Article 21 that says no person in India can be deprived of her/his right to
life and liberty without due process. There is no deportation agreement with
Bangladesh. International law lays down that such deportations can take place
only with the consent of the country of origin. Bangladesh has consistently
refused to accept that its citizens migrate in large numbers to India. Indeed,
Bangladesh regards such unilateral efforts as harmful to a bilateral
relationship that is critical for the security and stability of both countries
and especially of our eastern region. We cannot place ourselves in a situation
where we are seen as forcing people out at gunpoint; it would be ethically
unjust, wrong in law and draw international condemnation, it said. The rights
body said its members were sensitive to the concerns in Assam and other parts
of the country about the problem of illegal migration from Bangladesh, a
long-standing issue that has defied official proclamations and pledges of push
back, deportation and detection. Any method used must be undertaken within the
rule of law frame, be just and fair and designed to minimise individual
hardship and tragedy. We believe there is a need that this is a tragedy of
growing intensity which is gathering momentum as a result of the current
National Register of Citizens (NRC) exercise in Assam, the CHRI said. Many of
those at risk of being marked foreigners were from the bottom of the economic
pyramid, unable to sustain the complex adjudication process needed to establish
their citizenship. Large numbers were already in detention camps, the CHRI
pointed out. Plea to not hurry the process
It also urged the Supreme
Court to not hurry through the process of verifying the applications of 38 lakh
people out the 40.07 lakh left out of the complete draft of the NRC. The court
has set July 2019 as the deadline for the final list.
__ _ _ _ _ _ _ _ _ _ _ _ _
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INDIA PRODUCES 32.11 MILLION TONNES OF SUGAR IN OCT-APR, TO
HIT NEW RECORD: ISMA
Sugar output in India has reached
32.11 million tonnes in the first seven months of the ongoing marketing year
that started October 2018, and the total production could touch a new record of
33 million tonnes, the industry body ISMA said Friday. Much of the sugar has
already been manufactured and only a few mills are in operation at present, it
said. The country's sugar output during the 2017-18 marketing year
(October-September) was a record 32.5 million tonnes. The annual domestic
requirement of India, which is the world's second largest producer, is only 26
million tonnes. According to the Indian Sugar Mills Association (ISMA), mills
have manufactured 32.11 million tonnes of sugar between October 2018 and April
this year. Only 100 mills were in operation as on April 30. The country's top
three sugar producing states -- Uttar Pradesh, Maharashtra and Karnataka --
have produced 11.26 million tonnes, 10.7 million tonnes and 4.32 million tonnes,
respectively, during the October-April period of the 2018-19 marketing year. Even
though the quantum of sugarcane crushing in the current year is less than that
in the last year, the sugar production in 2018-19 will be marginally more than
last year, it said in a statement. Sugar recovery in northern India has been
substantially better than last year. In the other parts of the country,
including Maharashtra and Karnataka also, the sugar recovery is better than
last year, though not as high as it achieved in north India. Therefore, the
sugar production in the current year for the whole country is expected to be
around 33 million tonnes, about 5,00,000 tonnes more than last year, the ISMA
predicted. The pace of sugar production in the last 15-20 days has slowed down,
with large number of sugar mills shutting their crushing operations faster than
what was seen in the last season. ISMA said the sugar stocks at the end of the
2018-19 marketing year would be at a higher level at around 14.7 million tonnes
taking into account the opening balance of 10.7 million tonnes as on October 1,
2018, and estimated record output of 33 million tonnes and domestic demand of
26 million tonnes as well as export of 3 million tonnes. The industry body also
indicated that sugar output in the 2019-20 marketing year is likely to decline
on lower sugarcane output due to lack of rains in key growing state Maharashtra
and diversion to ethanol production.
__ _ _ _ _ _ _ _ _ _ _ _ _
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CYCLONE 'FANI': 'DGCA WILL ISSUE REVISED GUIDELINES TO
AIRLINES AS AND WHEN NECESSARY'
Aviation regulator DGCA
will issue revised advisories to airlines as and when necessary in view of the
cyclone 'Fani', said civil aviation minister Suresh Prabhu on Friday. Prabhu
also said that he has directed Pradeep Singh Kharola, to continuously monitor
the situation. Cyclone 'Fani' rolled through Odisha on Friday, packing rain and
windstorm that gusted up to 175 kmph, leaving at least three people dead,
blowing away thatched houses, and swamping towns and villages. Prabhu said he
will pledge funds from Members of Parliament Local Area Development Scheme
(MPLADS) if necessary as per the extant rule. DGCA will be issuing revised
advisories to Airlines as and when necessary. Taking all possible steps for passenger
safety and to minimise their inconvenience, he added. The Directorate General
of Civil Aviation (DGCA) Friday said no flights will depart or arrive at
Kolkata airport from 3 pm Friday to 8 am Saturday in view of the cyclonic storm
'Fani'.
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POTATO FARMERS HIT BACK AT PEPSICO, SEEK COMPENSATION FOR
HARASSMENT
Calling for an unconditional
withdrawal of its legal case, sued potato growers in Gujarat on Friday said
that they have sought compensation from PepsiCo India Holdings Ltd. (PIH) for
harassment caused to them due to the lawsuit. Three of the potato farmers sued
by PepsiCo along with farmer union leaders and farmers’ rights activists
asserted that Indian farmers' seed freedoms were non-negotiable. With support
from other farmer organisations and activists, including RSS-affiliate
Bharatiya Kisan Sangh (BKS), the potato growers have not only sought
compensation but also called for boycott of the food giant's products. PepsiCo
should withdraw the cases unconditionally. The also company has to pay us
compensation for all the harassment we were put through even though the law is
clear on the subject, said Bipin Patel in a media briefing on Friday. Patel is
one of the four potato growers against whom PepsiCo had filed a suit. We would
like the state government to reveal the full details of the ongoing discussions
with the company since we are demanding an unconditional withdrawal based on a
reiteration of Sec. 39 (1) (iv) of PPV&FR Act 2001, and anything else is not
acceptable, the sued potato growers said. On Friday, farmers and activists also
announced forming of a new outfit called Bij Adhikar Manch (Rights for Seeds
Forum). A meeting of 30 members under the new entity, comprising farmers, farm
leaders, civil right representatives, lawyers and scientists, was also held on
Friday in Ahmedabad where the forum decided to call for a nation-wide boycott
of PepsiCo products. The forum will now continue to fight for farmers'
sovereign rights seeds, said its co-ordinator Kapil Shah. Friday also saw
PepsiCo India officials hold a meeting with Gujarat government officials
including chief secretary of the state and additional chief secretary for
agriculture, Government of Gujarat in the state capital Gandhinagar. Addressing
mediapersons after the meeting in Gandhinagar, Jagrut Kotecha, vice president
snacks, PepsiCo India said, We had come to update the state government about
the statement we had issued earlier on Thursday and are looking forward to an
amicable solution for everyone.
__ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
NRC REGISTRATIONS MAKING IT DIFFICULT FOR BIHAR MIGRANTS TO
CAST THEIR CONSTITUENCIES' VOTES
Rajkumar is all set to
travel to Muzaffarpur, the Lok Sabha constituency in Bihar which goes to polls
on May 6. The barber-shop owner in Rehabari in Guwahati is a fan of RJD leader
Tejashwi Yadav. I will reach my village in Muzaffarpur on May 5. Though RJD
chief Lalu Prasad Yadav is not in the fray this time, his son there is leading
the anti-BJP front and I am supporting him, Rajkumar told. Meanwhile, Giri
Chopal, who owns a small shop in ABC in Guwahati, has already left for
Sitamarhi along with his family. Rajkumar and Chopal are among the lakhs of
migrants from Bihar who have settled across Northeastern India and are
travelling to cast their ballot in their home state. The ruling JDU-BJP
coalition is the favourite among them. Nitish Kumar-led government has restored
Bihari pride and pulled Bihar out of jungle raj. People no longer equate Bihar
with lawlessness, as was the case in the past, said Chopal. Nationally, Prime
Minister Narendra Modi has done commendable work and the country is developing
under him. However, amid the election din, there are some who are giving polls
a miss and coming to Assam to attend the hearing of the claim and objection
process of updation of National Register of Citizens (NRC), which is underway
at 1,436 centres. Around 3.628 million people have made an appeal for inclusion
and 200,000 have registered their objections.
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BIHAR TO GO TO POLLS IN PHASE V OF GENERAL ELECTIONS 2019
In Phase V of General
Elections, 5 Parliamentary Constituencies (PC) namely Sitamarhi, Madhubani,
Muzaffarpur, Saran and Hajipur in Bihar will go to Polls on 6th May. 82
candidates including 6 Women will be contesting for the 5 Lok Sabha seats. As
per the data available, there are total 8766722 voters (8749847 General and
16875 Service voters) in these 5 PCs, out of which 4678401 are males, 4088096 females
and 225 third gender voters. 8,899 Polling stations have been set up for phase
five elections in the state.
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12 LOK SABHA SEATS TO GO TO POLLS IN RAJASTHAN IN PHASE V ON
6TH MAY
Rajasthan will go to Polls
in Phase V of General Elections on 6 May. Polling will take place in 12
Parliamentary Constituency (PCs). 134 candidates including 16 women candidates
will be contesting for these 12 Lok Sabha seats. As per the data sourced from
CEO Rajasthan website, 23179623 voters (23068868 General and 110755 Service
voters), which includes 12253615 males, 10925883 females and 125 third gender
voters will cast votes in phase five elections. 23783 Polling stations have
been set up in place for smooth conduct of polls in this Phase.
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_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
DR. KRISHNAMURTHY SUBRAMANIAN IS NEW MEMBER OF FINANCE
COMMISSION’S ADVISORY COUNCIL
The Chief Economic
Advisor, Government of India, Dr. Krishnamurthy Subramanian had been included
as Member of the Advisory Council of the Fifteenth Finance Commission. It may
be recalled that on 16th April, 2018 the Fifteenth Finance Commission had
constituted an Advisory Council with the following Members:
·
Dr. D.K. Srivastava.
·
Dr. Indira Rajaraman.
·
Dr. Arvind Virmani.
·
Dr. Surjit S. Bhalla.
·
Dr. Sanjeev gupta.
·
Prof. Pinaki Chakraborty.
·
Shri Sajjid Chinoy.
·
Shri Neelkanth Mishra.
·
Dr. Prachi Mishra.
·
Dr. M. Govinda Rao.
·
Dr. Omkar Goswami.
·
Dr. Krishnamurthy
Subramanian will be the twelfth Member of the Council.
The role and function of
the Council is to:
·
To advise the Commission n
any issue or subject related to the Terms of Reference (ToR) of the Commission,
which may be of relevance.
·
To assist in the
preparation of any paper or research study which would enhance the Commission’s
understanding on the issue contained in its ToR: and
·
To help in broadening the
Commission’s ambit and understanding to seek best national and international
practices on matters pertaining to fiscal devolution and improving the quality
and reach and enforcement of its recommendations.
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WATER RELATED ISSUES SHOULD NOW BECOME OUR PRIORITY- U.P. SINGH
Shri U.P. Singh, expressed
concern that inspite of reports of water crisis in many parts of the country,
water related issues have not got adequate space in our conversations and our
concerns in society as whole. New developments in the field of
tele-communication and automobile sector easily get our attention and find
space in centre stage but water which is the source of all life forms and
essential for many of our needs is still not a subject of our concern in
society as a whole. He said that the quality of water is worsening due to
industrial pollutants and new technologies have to be devised to maintain the
quality of water to fulfil all our needs. The main purpose was to create a
platform to discuss and showcase the best concepts of water conservation and
management in synchrony with the UN’s sustainable development goals (SDG). Masood
Husain, stressed the need of water management to fulfil our needs of drinking
water, irrigation and industrial sector for entire population. He said that 80
percent of water is being used for agriculture and practices of micro
irrigation, drip irrigation should be encouraged for efficient use of water.
Civil society still do not understand all aspects of water crisis and mass
awareness movement is required to educate masses. He further said that to check
over exploitation of ground water, inter basin transfer of river water, micro
irrigation techniques and recycle and reuse of water is the need of the hour.
__ _ _ _ _ _ _ _ _ _ _ _ _
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EXPECT MILK SHORTAGE IN TAMIL NADU ON MAY 5, SAY DEALERS
The Tamil Nadu Milk
Dealers Employees Welfare Association (TNMDEWA) has requested the public to
purchase and store milk on Saturday as most shops will be shut on May 5 on
account of Traders Day. On an average 1.5 crore litres of milk is sold everyday
across the state. However most of it sold through shops. On May 5, close to 50%
sales will be affected. As shops will be shut, the milk dealers cannot store
huge quantity of milk. So there will be shortage, said S.A. Ponnusamy. He added
that on May 5, milk dealers will keep their shops open till 9 a.m. instead of
the usual 8 a.m.
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ROUT MAY NOT BE OVER
FOR INDIAN CAR STOCKS AFTER LOSING $42 BN IN VALUE
India’s
car stocks have lost $42 billion in value in the last 16 months, and some
analysts say the rout may not be over. A gauge of automobile companies has fallen
30 percent since reaching a record in December 2017, and is the worst-performer
among 19 sector indexes in the nation’s equity market this year. That’s as the
benchmark S&P BSE Sensex Index rallied to a fresh peak last month. A
slowdown in consumption amid a cash crunch in the banking system has left
carmakers with a pile of unsold vehicles in what was one of the world’s
fastest-growing auto market until last year. Little surprise then that Maruti
Suzuki India Ltd., Hero MotoCorp Ltd. and Mahindra & Mahindra Ltd. are
among the biggest decliners on the Sensex this year, notching losses of up to
20 percent. Initial trends are looking weaker than expected, Nomura Holdings Inc.
analysts Kapil Singh and Siddhartha Bera wrote in a May 2 note. Most companies
in the sector have further earnings risks due to weaker-than-expected demand. Passenger
vehicle growth in the financial year ended March was the slowest since 2014,
according to the Society of Indian Automobile Manufacturers. Maruti Suzuki, the
nation’s largest by market share, slid for seven days through Tuesday after
saying April revenue declined 17 percent from the year-ago month. Only two of
the 16 companies on the S&P BSE Auto Index have held their heads above
water this year: Tata Motors Ltd., the maker of Jaguar Land Rover, rebounded
last month after declining to its lowest level since 2011 in February. Bajaj
Auto Ltd. is up 11 percent amid an increase in its sales of two-and-three
wheelers for the year ended March by a quarter to 5 million units. Auto
companies that have attractive products, are disciplined in managing their
inventories and invest in research and development should still outperform
during the slowdown, Pramod Kumar and Anubhav Bajpai, analysts from Goldman
Sachs Group Inc. wrote in a report. But they are still cautious: We don’t see
any relief in the near term.
__
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_ _ _ _ _ _ _ _
DEPLOYING 5G NETWORK WILL BE CRITICAL FOR OPERATORS, SAYS
SWEDEN'S ERICSSON
The troubled telecom
sector in India will need to turn to 5G deployments to reduce costs and improve
performance, spokespersons of Swedish telecom equipment provider Ericsson said
on Friday. So far, Ericsson has announced eighteen commercial 5G deals globally
and are part of the first wave of live 5G networks across US, Europe and Asia.
While the Indian telecom sector continues to struggle with financial turmoil,
merged telco Vodafone Idea (VIL) was the first one to speak out against 5G
spectrum auctions, in December 2018, in the absence of affordable spectrum and
a robust 4G network. The important aspect is that its is critical for our
customers (operators)) to move into 5G than for the end subscribers. 5G will
drive down the cost per gigabit and by deploying it they can deploy much higher
capacity at a much lower cost to cater to the rapidly growing demand and
smoother user experience, said Ludvig Landgren. Indian telecom operators deal
with lowest posible global average revenue per user (ARPU) and highest possible
demand in India. He added, operators have to be a little careful about where
they spend so resulting in technology that allows reuse of existing equipment,
which means that they can take easier steps rather than full rollout and seek
to continuously trying to bring down costs. Ericsson announced that it has been
selected by Vodafone Idea Limited (VIL) to deploy its Cloud Packet Core to
enhance its existing core network. As part of this deal, VIL will deploy
Ericsson’s core network applications and Network Functions such as Ericsson
virtual Evolved Packet Gateway (vEPG), Service Aware Policy Controller (vSAPC)
and Virtualization Infrastructure (NFVi) solution enabling fast introduction of
new services and providing full service continuity. Ericsson also has 5G MoUs
with Bharti Airtel, BSNL and IIT, Delhi as part of its efforts to strengthen
the 5G ecosystem in the country. Apart from tehse in recent times, both Bharti
Airtel and VIL have announced deals in recent months with Ericsson for rapid 4G
rollout. They have also been rolling out 5G use cases with Reliance Jio,
however, no comprehensive equipment deals have been announced yet on the lines
of VIL or Airtel deal.
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