Dear all,
Welcome.
State's Special status: The Centre & State's financial relations are closely akin to Special status. Such states get priority over tax rebates etc. During 1969, Gadgil formula was implemented. Finance Commission had granted such status to three States along with Excise tax rebates. Now, these have increased to eleven. These are North-eastern States, Assam, Manipur, Meghalaya, Nagaland, Tripura, Sikkim, Uttarakhand, J&K and Himachal Pradesh. The status was accorded due to rocky terrain, backwardness, social problems & bordering areas. This status had provided them with excise tax rebates, & invitation for setting up on industries wherein 30% of planning expenditure is incurred towards backward States. Also, planning assistance of upto 90% as compared to 30% for normal States is granted.
Welcome.
State's Special status: The Centre & State's financial relations are closely akin to Special status. Such states get priority over tax rebates etc. During 1969, Gadgil formula was implemented. Finance Commission had granted such status to three States along with Excise tax rebates. Now, these have increased to eleven. These are North-eastern States, Assam, Manipur, Meghalaya, Nagaland, Tripura, Sikkim, Uttarakhand, J&K and Himachal Pradesh. The status was accorded due to rocky terrain, backwardness, social problems & bordering areas. This status had provided them with excise tax rebates, & invitation for setting up on industries wherein 30% of planning expenditure is incurred towards backward States. Also, planning assistance of upto 90% as compared to 30% for normal States is granted.
Passport: The Mumbai blast acquittal, Sanjay Dutt, had been bereft of Indian Passport for a period of five years. The sentence would imply that he would not be able to visit 90% of the country.
Blackmoney: The crusade against black money had started showing affect as per investment statistics. The investment in tax havens had seen it lessening upto 70%. It had been more prominent in Mauritius & Singapore. Uptil 2010-11, it had increased but due to movement carried inside inside India & subsequent bowing of govt., it had reduced. In Singapore, the investment got reduced during 2011-12 of its previous year. During current fiscal year, it had remained 160 crore dollars during first nince months. Likewise in mauritius, it had become 151 crore dollars from previous 402 crore dollars. Also, Indian investment in outside countries had reduced due to lessening of investment in Mauritius & Singapore. The govt. statistics proclaim that investmnt during April 2010 upto December 2012 came 38% from Mauritius & 10% from Singapore. Many leaders like Baba Ram dev, Anna Hazare, Arvind Kejriwal etc. along with BJP's leader, Advani, had asked about this investment. The govt. believes that the investment agreement needs to be revised.
Indian investment
--------------------
Year----Mauritius--Singapore
2010-11- 509.78--401.86
2011-12- 258.13--224.46
2012-13- 159.80--153.30
Indian investment
--------------------
Year----Mauritius--Singapore
2010-11- 509.78--401.86
2011-12- 258.13--224.46
2012-13- 159.80--153.30
FDI in India
Year----Mauritius--Singapore
2010-11- 698.7-170.05
2011-12- 994.2-525.7
2010-11- 698.7-170.05
2011-12- 994.2-525.7
Saudi Labour laws: The new labour policy could render many Indians out of their jobs. Saudi's Nitaqat (labour) law mentions that all companies should have 10% of jobs reserved for Saudi's. Those found violating would be suitably deported. This could affect Andhra, Kerala & UP's labour force. Presently, 1 lakh from UP, 2 lakh from Bihar, & 5.7 lakh from Kerala are working in Saudi Arab. As per govt. statistics, 20 lakh Indian labours are working.
As per Khalij Times, around 2.5 lakh small & medium level companies were unable to implement Nitaqat law. Such labours could be deported. Most importantly, it could affect Kerala's economy. As per Kerala's immigrant's minister, the State govt. had asked for flexible approach in this regard. Centre should ensure that the deported Indians should have nothing mentioned in their Passport so that they don't face any difficulties. Also, the NGos working there states that situation had not worsened.
Political donations: The differences had crept in amidst govt. & EC on the said matter. The Election Commission had told that for amending Form 24 A, electoral reforms are not required. The law ministry had told EC about limit of 20,000 INR abolishion along with declaration of donations demand had been sent to the law commission. It would require amendment of Public representative act, 1951. But EC had told in return that amendment in Form 24 A would only require enlistment of rules by the ministry. No change is foreseen. The Act 29 C of the said Act doesnot mention about details of the donations made but it makes such details to be made compulsorily in Form 24 A. It is as per Election Rule, 1961. These rules are for making provisions regarding the act. The Election commission had asked for a notification. It is to note that Election Commission had suggested during October 2012 that Form 24 A needs amendment. It had sought abolishion of limit of 20,000 INR so that parties should compulsorily declare donations.
As per Khalij Times, around 2.5 lakh small & medium level companies were unable to implement Nitaqat law. Such labours could be deported. Most importantly, it could affect Kerala's economy. As per Kerala's immigrant's minister, the State govt. had asked for flexible approach in this regard. Centre should ensure that the deported Indians should have nothing mentioned in their Passport so that they don't face any difficulties. Also, the NGos working there states that situation had not worsened.
Political donations: The differences had crept in amidst govt. & EC on the said matter. The Election Commission had told that for amending Form 24 A, electoral reforms are not required. The law ministry had told EC about limit of 20,000 INR abolishion along with declaration of donations demand had been sent to the law commission. It would require amendment of Public representative act, 1951. But EC had told in return that amendment in Form 24 A would only require enlistment of rules by the ministry. No change is foreseen. The Act 29 C of the said Act doesnot mention about details of the donations made but it makes such details to be made compulsorily in Form 24 A. It is as per Election Rule, 1961. These rules are for making provisions regarding the act. The Election commission had asked for a notification. It is to note that Election Commission had suggested during October 2012 that Form 24 A needs amendment. It had sought abolishion of limit of 20,000 INR so that parties should compulsorily declare donations.
Sahara/SEBI: The conflict regarding shareholders interest may affect other Sahara Group companies. It is to note that SEBI had earlier asked Sahara to return investors amount with interest raised via. OCDs. Whilst Sahara group claims that it had returned the money, SEBI had approached Supreme Court for arrest of Sahara Groups persons. Supreme Court had, in it's earlier judgement, already told that SEBI has rights to recover the aforesaid amount. It can opt for recovery of money through property attachment, sale & bank account freezing etc.
After all this, Sahara had approached Securities Appellate Tribunal for challenging freezing of it's accounts. Sahara's business has entered many sectors like insurance, shares, life insurance, asset management, hospitality etc. along with prestigious Amby valley project. As such, legal war may not be contained immediately.
With regards,
After all this, Sahara had approached Securities Appellate Tribunal for challenging freezing of it's accounts. Sahara's business has entered many sectors like insurance, shares, life insurance, asset management, hospitality etc. along with prestigious Amby valley project. As such, legal war may not be contained immediately.
With regards,
M.K.Pachraiya
The Sahara chief has rubbished the claims alleged by SEBI. The Sahara boss has said that the claims by SEBI are just a malicious act of venting anger towards Sahara. The reasons for the same would be best known to SEBI. SEBI has been piling on allegations against Sahara without any proper evidence to support it.
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