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Kisan Mukti Sansad: Farmers hold protest march, mock Parliament session in Delhi
New Delhi, Nov 20: Thousands of farmers from across the country held a protest march here on Monday and organised a 'Kisan Mukti Sansad' or mock Parliament session to present two bills on crop loans waiver and remunerative prices for farm produce.The protest march organised by the All India Kisan Sangharsh Coordination Committee (AIKSCC) -- an umbrella body of 184 farmers organisations -- started from the Ramlila Maidan and ended on Parliament Street near Jantar Mantar."We want Union Agriculture Minister Radha Mohan Singh to visit the Kisan Sansad and hold discussion with farmers," Kirankumar Vissa, a farmer activist from Telangana, said, The bills will be sent to Prime Minister Narendra Modi.All members in the mock session were women, who spoke about their sufferings due to the "wrong and anti-farmer policies" of the government.Lok Sabha member and farmer leader Raju Shetti tabled the bills, which were then discussed."We will pass these bills in the evening af...




Centre should waive agricultural loans in all states: Yogendra Yadav
New Delhi, Nov 20: Swaraj India leader Yogendra Yadav on Monday demanded that the central government should waive loans of all farmers across states, addressing a farmers' rally in the national capital."We have two demands, one that the remunerative prices should be production cost plus 50 per cent, which was recommended by the Swaminathan Commission and promised by Mr. Modi," Yadav said."And second demand is one-time waiver of all agricultural loans. Most steps in the last few years have been taken by state governments, but the experience shows unless the central government steps in, loans cannot be waived," he said."So we urge the central government to waive all agricultural loans in all states, not just election bound states," he said.Around 180 farmers organisations have come together at the Ramlila ground, and will be taking out a march to Parliament Street raising their demands. The protest is being organized under the banner of All India Kisan Sangh...




Don't foresee more changes to GST rates in next few months: Adhia
New Delhi, Nov 18: Finance Secretary Hasmukh Adhia on Saturday said the recent reduction in GST rates on mass consumer goods items has resolved nearly 90 per cent of problems and discontentment related to the indirect tax regime. According to Adhia, he does not foresees any further changes in GST rate structure in the near future after the latest changes which were incorporated after the last GST Council meet.  However, as and when the need arises rates on other items may be changed, he said. Adhia who was speaking on DD News television channel said that the country's key economic parameters like low inflation, reduction in fiscal deficit and increasing tax buoyancy show that economy is in robust shape.He added that Union government in recent times has taken long-term structural reforms to increase the tax-to-GDP ratio and to curb tax evasion through the use of technology.




BSE Sensex to be reconstituted from December 18
Mumbai, Nov 17: Asia Index on Friday informed that lenders IndusInd Bank and Yes Bank will enter the 30-scrip sensitive S&P BSE Sensex from December 18, 2017.According to Asia Index which is a 50-50 partnership between S&P Dow Jones Indices LLC and BSE, pharma majors Cipla and Lupin will exist the barometer after reconstitution. The reconstitution exercise involves re-evaluation of the constituents of a particular index. It also incorporates addition and removal of stocks from the index and their re-ranking based on the current market situation.(IANS) 




Jaitley in Singapore: Lists GST, note ban as major reforms
Singapore, Nov 16: Finance Minister Arun Jaitley has urged Singaporean businesses to invest in India, highlighting the country as one of the largest FDI recipients with the government undertaking major structural reforms, including Aadhaar, GST and demonetisation. "India has become the most favorable and attractive destination for Foreign Direct Investment (FDI)," Jaitley said while addressing an investors' roundtable here on Wednesday. He is on a two-day visit here. The roundtable was jointly organized by the Ministry of Finance and the High Commission of India in Singapore.  Jaitley said that to provide further impetus to the economy, "the present government has implemented a slew of economic reforms one after the other, including the Goods and Services Tax (GST) roll-out, introduction of Insolvency and Bankruptcy Code (IBC) and the recapitalisation package for the Public Sector Banks (PSBs)".  He said these will help to redress the b...




Indian companies account for $17.9 bn investments in US: Survey
New Delhi, Nov 15: One hundred companies with origins in India are responsible for creating more than 100,000 jobs and $17.9 billion in investments across the United States, according to a survey report.The findings were disclosed in the Confederation of Indian Industry's (CII) 'Indian Roots, American Soil' report -- a state-by-state breakdown of tangible investments made and jobs created by 100 surveyed Indian companies doing business in all 50 states, as well as Washington, D.C., and Puerto Rico. The industry body said that its survey respondents represent diverse sectors including pharmaceuticals and life sciences, telecommunications, aerospace and defence, financial services, among others.According to the report, New Jersey, Texas, California, New York and Georgia are "home to the most number of workers in America directly employed" by Indian companies.  On foreign direct investment (FDI) inflow basis, New York, New Jersey, Massachusetts, California and Wyo...




Indian companies account for $17.9 bn investments in US: Survey
New Delhi, Nov 15: One hundred companies with origins in India are responsible for creating more than 100,000 jobs and $17.9 billion in investments across the United States, according to a survey report.The findings were disclosed in the Confederation of Indian Industry's (CII) 'Indian Roots, American Soil' report -- a state-by-state breakdown of tangible investments made and jobs created by 100 surveyed Indian companies doing business in all 50 states, as well as Washington, D.C., and Puerto Rico. The industry body said that its survey respondents represent diverse sectors including pharmaceuticals and life sciences, telecommunications, aerospace and defence, financial services, among others.According to the report, New Jersey, Texas, California, New York and Georgia are "home to the most number of workers in America directly employed" by Indian companies.  On foreign direct investment (FDI) inflow basis, New York, New Jersey, Massachusetts, California and Wyo...




Jay Shah doesn't appear in court, case against Wire adjourned
Ahmedabad, Nov 14: An Ahmedabad Metropolitan Court on Monday adjourned to December 16 hearing in a criminal defamation case filed by BJP President Amit Shah's son Jay Shah against news portal The Wire after Jay Shah failed to appear in the court.The suit was filed after a report in The Wire claiming that the turnover of Jay Shah's firm grew exponentially after the Bharatiya Janata Party came to power in the country in 2014.The Wire team reached the Ahmedabad court on time and Siddharth Varadarajan, founding editor of the portal, tweeted a picture of the team outside the court, stating the accused were smiling while the complainant gave the court a miss.Additional Chief Metropolitan Magistrate S.K. Gadhvi had issued summons to journalist Rohini Singh, five editors and the non-profit company that publishes The Wire.The summons were issued after the Metropolitan Court prima facie found that a case of defamation punishable with simple imprisonment for a term which may extend to two years w...




ICIF still hopeful even as RBI shuts its door to Islamic Banking
IndiaTomorrow.net,New Delhi, Nov 13: It was widely reported in the media yesterday that the Reserve Bank of India (RBI) had effectively shut its door to Islamic Banking in India. Replying to a RTI application filed by a Press Trust of India (PTI) correspondent, India’s central bank stated: ‘’ Taking into account, the wider and equal opportunities available to all citizens to access banking and financial services, it has been decided not to pursue the proposal further’’.  However the body that has been diligently pursuing the introduction of Islamic banking in India is still hopeful that things may change in the near future and India will open its doors to Sharia or Interest-free banking. IndiaTomorrow.net got in touch with H. Abdur Raqeeb the General Secretary of (icif.in) Indian Centre for Islamic Finance (ICIF) and asked him to respond to the RBI’s decision:  India Tomorrow: Your reaction on RBI decision not to pursue the proposal to intr...




Demonetisation has failed: Yashwant Sinha
Patna, Nov 10: Senior BJP leader Yashwant Sinha on Friday rubbished Prime Minister Narendra Modi's claim that demonetisation was successful, saying that the exercise had actually failed."Notebandi has failed as its objective was not fulfilled. There is no black money return," Sinha said, adding that 99 per cent of the currency had returned."But as usual the Central government has been taking help of lies to prove that it was a success," he said at a function here organised by rebel Janata Dal-United leader Uday Narayan Choudhary.Accusing the Modi government of not being serious about fighting corruption, he asked why has a probe not been ordered into the business dealings of Bharatiya Janata Party President Amit Shah's son Jay Shah.(IANS)




Farmers face Rs 2 lakh cr loss as Modi failed to implement promise: Union
New Delhi, Nov 9: Prime Minister Narendra Modi's failure to implement his electoral promise of 50 per cent profit above the cost of production has resulted in about Rs 2 lakh crore loss to farmers in the country this kharif season, farmers unions said on Thursday.In addition, the government has failed to stop market prices from falling below the current Minimum Support Price (MSP) so farmers had to sell their produce at lower rates, even below the cost of production in some cases, causing an expected loss of Rs 35,968 crore to them, said the All India Kisan Sangharsh Coordination Committee (AIKSCC), an umbrella body of over 180 farmer organisations.Addressing media persons here, the AIKSCC sought complete loan waiver and remuneration of 50 per cent margin above the cost of production as per Modi's promise. To press their demands, farmer unions have decided to hold a protest, Kisan Mukti Sansad, in the national capital on November 20.Farmers leader from Maharashtra and Lok Sabha Member ...




People faced serious problems due to note ban: Survey
IndiaTomorrow.netNew Delhi, Nov 8: When BJP is celebrating ‘note ban’ as its great economic move on the first anniversary of demonetisation, around 63 per cent respondents of a nationwide survey released on Tuesday said they witnessed people in "serious problems" due to the government's sudden announcement on November 8 last year. The report, done by 'Anhad' and 32 other civil society organisations, also contains the names of some of the persons who died in bank queues and due to other reasons attributable to scrapping of Rs 500 and Rs 1,000 notes, and also briefly describes their heart-wrenching ordeals. A majority of the respondents (55 per cent vs 26.6 per cent) disagreed that the move will wipe out black money forever. Also, 48.2 per cent did not believe that demonetisation would have any impact on terror attacks while only 20 per cent believed the common man would benefit from the move. In the national capital Delhi, as many as 71.8 per cent respondents said ...




Demonetisation: Most reactionary and illogical policy ever
('Note-Bandi: Demonetisation and India's Elusive Chase for Black Money' is an upcoming book from Oxford University Press dedicated to the "memory of Indian citizens who lost their lives due to demonetisation"). Excerpts from the preface by R. Ramakumar.'Demonetisation'-- the withdrawal of legal tender status of notes of denomination Rs 500 and Rs 1,000 -- announced by India's Prime Minister Narendra Modi over a televised address on 8 November 2016 will go down in history as one of the most reactionary and illogical economic policies ever attempted in independent India.It crippled an economy that ran on cash and was plagued by a slowdown; it destroyed the livelihoods of millions of farmers, workers, traders, women and the elderly; and it violated the dignity and liberty of law-abiding citizens.Yet, in a post-truth world, demonetisation also left public opinion in India deeply polarised. The language of the state had a deceptive appeal. In a society marked by abject poverty and...




714 Indian links exposed in 'Paradise Papers'
New Delhi, Nov 6: India ranks 19th among 180 countries whose citizens and companies sheltered their wealth in secretive tax havens abroad, according to a fresh global investigation whose first lot of revelations were published on Monday."In all, there are 714 Indians in the tally," said the Indian Express in a front-page banner story done as part of a world-wide probe carried out by the International Consortium of Investigative Journalists (ICIJ)."Interestingly, it is an Indian company, Sun Group, founded by Nand Lal Khemka, that figures as Appleby's second largest client internationally, with as many as 118 different offshore entities," the Express added.The revelations form part of the largest ever leak of financial data involving two companies, Bermuda's Appleby and Singapore's Asiaciti, which helped the global rich and powerful, including from India, to move their money abroad.The Express said that among Appleby's Indian clients were several prominent corporates...




Those against note ban must move constitution bench: SC
New Delhi, Nov 3: The Supreme Court on Friday asked a batch of 14 petitioners seeking the deposit of their demonetised currency notes to impleaed themselves before the constitution bench for redressal of their grievances.A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said that besides raising their grievance, the petitioners could also assist the court in the adjudication of the challenge to the constitutional validity of the demonetisation decision.Attorney General K.K. Venugopal said that the government will not take any coercive action against them for possessing demonetised currency.The batch of 14 petitioners include NRIs who were not in the country when demonetisation took place and also those who were medically incapacitated.(IANS)




Bank employees shouldered worst impact of demonetisation: Unions
According to C.H. Venkatachalam, General Secretary of the All India Bank Employees' Association, the whole experience had left "a big scar in the minds of bankers".  Bappaditya Chatterjee and Venkatachari Jagannathan Kolkata/Chennai, Nov 2: As bank customers suffered by waiting in long queues to withdraw their money from November onwards last year, another group of people -- bank employees -- endured the hardship of extended work hours and customer anger.The employees, say bank unions, bore the major brunt of the sudden decision announced on November 8 last year by the Prime Minister."Banking personnel were rigorously working towards recovery of bad loans before the announcement of demonetisation, but the entire drive of recovery got derailed after the announcement as employees had to work day and night for giving service to depositors," Sanjay Das, Assistant General Secretary of the All India Bank Officers' Confederation, told IANS.The bank unions said that ...




Licences of Delhi hotels, eateries serving hookah to be cancelled
New Delhi, Oct 31: The Delhi government on Tuesday said the licences of all hotels and restaurants with hookah bars would be cancelled as many of them have been found illegally providing tobacco to customers in the garb of herbal materials.Health Minister Satyendar Jain said hookah smoking was banned in non-smoking zones after the amendment to COTPA (Cigarette and other Tobacco Products Act) that prohibits smoking in public in May 2017.The amendment, which prohibits serving food or beverages in designated smoking areas in hotels and restaurants, was approved after it was found that the law was being used by several restaurant owners to serve hookahs with non tobacco flavours along with lunch and dinner."Recent notification of the government of India from the Ministry of Health and Family Welfare completely prohibits use of hookah in the smoking zones also."Therefore, hookah bars in any form are illegal and Delhi Police and MCD (Municipal Corporation of Delhi) should cancel th...




Congress to hold nation-wide protests on Nov 8
New Delhi, Oct 30: The Congress on Monday said it will observe November 8 as "Black Day" with country-wide protests against demonetisation and won't rest till "inherent flaws" in the design, architecture and rates of the Goods and Services Tax (GST) were resolved.The party made the announcement after a meeting of its General Secretaries which was presided over by Vice President Rahul Gandhi.Briefing reporters, Congress spokesperson Randeep Singh Surjewala said demonstrations will be held in every district and state capital on November 8, the day the Modi government decided last year to junk high currency notes.Surjewala said demonetisation "was the biggest scam of the century" and said the GST had "crushed businesses and wiped out jobs". (IANS)




Did RBI have authority to issue Rs 2,000 and Rs 200 currency notes?
Quaid Najmi, Mumbai, Oct 28: In what could be a bizarre situation, the Reserve Bank Of India (RBI) does not seem to have any official records to prove that it had authorised the issue of new currency notes in denominations of Rs 2,000 and Rs 200, after demonetisation, according to documents available through RTI."As per RTI replies provided by the RBI, the country's central bank has apparently not published any Government Resolution (GR) or a circular till date to issue the new Rs 2,000 and recently, the Rs 200 currency notes," says Mumbai-based RTI activist M.S. Roy.A May 19, 2016 document -- roughly around six months before demonetisation -- shows that the RBI's Central Board of Directors approved a proposal put forth by its Executive Director on May 18, 2016.This (proposal) pertained to the new designs, dimensions and denominations of future Indian bank notes, and the Board resolved to forward it to the central government for approval, as per extracts of the minutes of tha...




Demonetisation: Dark night for realty sector, light still seems elusive
The Goods and Services Tax (GST) and the Real Estate Regulation Act (RERA) have not helped either. If anything, they have come in as additional dampeners. Quaid Najmi,Mumbai, Oct 27: It was a year when India's realty sector was shaken to its foundation. A majority of the big, medium and small realtors across the country suffered from a severe liquidity crunch, stalled projects, elusive investors and buyers and a near-blanket stay on new projects -- especially in the lucrative commercial and luxury housing segments.How did demonetisation result in such a severe impact on this segment?"Essentially, demonetisation completely drained the markets of liquidity, which is still continuing. Banks have all the money but it is not being lent out. Nor is it adequately compensated by alternatives like digital growth," Niranjan Hiranandani, leading developer and Chairman of Hiranandani Constructions, told IANS.Hiranandani, who is also President of the National Real Estate Development Cou...




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