Dear all,
Welcome.
Welcome.
Pakistan: Pakistan's Marine security agency had arrested 58 fishermen folks who had entered into Pak's territorial waters. It is to note that recently 337 fishermen folks had been released from Pak's prison. The Security agency had confirmed that Indian fishermen had been arrested and nine boats had been seized. MSA commander had stated taht security personnel had arrested 58 fishermen folks. He stated that they had crossed regional borders and entered into Pak's region for catching fishes. Despite warnings, they had continued to be there.
Railways: The Iron Ore transportation non-tax paying Steel companies would be targeted by Railways. The Railway Board had issued notices to 17 companies including Essar Steel, Rashmi Metallics etc. However, Railway is not agreeing upon CAG estimate of loss of 17,000 crore worth revenue. As per Railways, it is around 2,000 crores INR including four years tax & penalty.
The CAG's interim report stated that Iron ore mining and exporting cos. had caused a loss of 17,000 crores INR during the period from 2008-09 upto 2011-12. These companies had not paid the goods tariff. They had paid for domestic rates rather than exporting rates. As per Railway Officials, the matter was brought to the notice by the Railways itself and complained to CVC.
During past four years, these cos. had caused damage of 300 crores INR which is around 2000 crores after fine imposed. The Rail ministry had, in 2008, implemented goods tariff policy for pellets. The export rate for pellets is four times more than domestic one.
Later, Essar Steels had agreed to pay 89 crores as penalty. But Rashmi Metallics had gone to the Court for alleged damage of 132 crores INR. A total of 660 crores INR is liability along with 528 crores INR as penalty. Many other cos. had gone to the Court.
Railways: The Iron Ore transportation non-tax paying Steel companies would be targeted by Railways. The Railway Board had issued notices to 17 companies including Essar Steel, Rashmi Metallics etc. However, Railway is not agreeing upon CAG estimate of loss of 17,000 crore worth revenue. As per Railways, it is around 2,000 crores INR including four years tax & penalty.
The CAG's interim report stated that Iron ore mining and exporting cos. had caused a loss of 17,000 crores INR during the period from 2008-09 upto 2011-12. These companies had not paid the goods tariff. They had paid for domestic rates rather than exporting rates. As per Railway Officials, the matter was brought to the notice by the Railways itself and complained to CVC.
During past four years, these cos. had caused damage of 300 crores INR which is around 2000 crores after fine imposed. The Rail ministry had, in 2008, implemented goods tariff policy for pellets. The export rate for pellets is four times more than domestic one.
Later, Essar Steels had agreed to pay 89 crores as penalty. But Rashmi Metallics had gone to the Court for alleged damage of 132 crores INR. A total of 660 crores INR is liability along with 528 crores INR as penalty. Many other cos. had gone to the Court.
Judicial Commission: Law minister had presented an amendment bill in which political executive would have an role in appointment of Judges. Also, a bill regarding appointment of Judges is presented and sent to Committee. In a Supreme Court's decision during 1993, it had stressed upon making it more transparent. Citing anomalies in Collegium system presently adopted, Parliamentary committees have opposed it besides National Commission headed by CJI to review the working of the Constitution.
The Commission had presented it's report during 2002. In the report, Supreme Court's proposed collegium system was opined as giving seniority to other's viewpoint. It includes President too. The Commission had stated that as per Art. 124, Judges appointing powers is reserved with President. He uses it after taking advise of CJI. In S.P.Gupta case, Supreme Court had stated that as per Art. 217, Judges recruitment process had three parties standing on same foot. Whereas Second Judges case had reverting of decision by Supreme Court. In it, Supreme Court had stated that CJI should consult two senior Judges and the decision should be of the group. In any case, decision of the President would be final.
As per proposed bill, Judicial appointment Commission would be headed by Chief Justice of India. It would have two senior Judges besides Law minister and two other chief members. The Secretary, law ministry would be it's co-ordinator.
However, the proposal brought up by Congress needs attention as it had been reluctant to autonomy of the institutions. During the decade of 70s, it had attacked Judicial system. During April 1973, it had ignored Senior Judges and again in January 1977, it had sidelined seniority. It had brought 42nd amendment. Since 1980s, it reverted back to traditional approach. It is alleged of appointing CVC, Election Commissioner without considering eligibility. Also, 2G & Coal block allocation scam revelation had been hit. CBI is stated to have been misused in Bofors case too. After twenty five years of checking, it had no outcome.
The Judges appointment process would have secretary as coordinator and as he is responsible for putting up proposals, it would not be appropriate to give him the said responsibility. It is oft happening that bureaucrats work under political pressure. This appears to be a weak link.
The Commission had presented it's report during 2002. In the report, Supreme Court's proposed collegium system was opined as giving seniority to other's viewpoint. It includes President too. The Commission had stated that as per Art. 124, Judges appointing powers is reserved with President. He uses it after taking advise of CJI. In S.P.Gupta case, Supreme Court had stated that as per Art. 217, Judges recruitment process had three parties standing on same foot. Whereas Second Judges case had reverting of decision by Supreme Court. In it, Supreme Court had stated that CJI should consult two senior Judges and the decision should be of the group. In any case, decision of the President would be final.
As per proposed bill, Judicial appointment Commission would be headed by Chief Justice of India. It would have two senior Judges besides Law minister and two other chief members. The Secretary, law ministry would be it's co-ordinator.
However, the proposal brought up by Congress needs attention as it had been reluctant to autonomy of the institutions. During the decade of 70s, it had attacked Judicial system. During April 1973, it had ignored Senior Judges and again in January 1977, it had sidelined seniority. It had brought 42nd amendment. Since 1980s, it reverted back to traditional approach. It is alleged of appointing CVC, Election Commissioner without considering eligibility. Also, 2G & Coal block allocation scam revelation had been hit. CBI is stated to have been misused in Bofors case too. After twenty five years of checking, it had no outcome.
The Judges appointment process would have secretary as coordinator and as he is responsible for putting up proposals, it would not be appropriate to give him the said responsibility. It is oft happening that bureaucrats work under political pressure. This appears to be a weak link.
Govt. reduction: To curb fiscal deficit, Fin.ministry had issued new list of measures to curtail it. The Fin. minister had kept target of fiscal deficit to be within 4.8% of GDP. But the rupee value fall out had increased subsidy. Seeking it, a 10% reduction is planned in all ministries expenses. Some of the measures are;
1. Economy class domestic air travel.
2. No assistance to colleagues during travel.
3. The Five Star Hotel conference and meetings are withheld.
4. All new recruitments and new vehicle purchase are restricted.
5. The foreign delegation to be kept short.
6. The foreign tours to be limited by dept. secretary.
7. Reduction in study tours, workshops, conference, seminar, and paper presentation.
1. Economy class domestic air travel.
2. No assistance to colleagues during travel.
3. The Five Star Hotel conference and meetings are withheld.
4. All new recruitments and new vehicle purchase are restricted.
5. The foreign delegation to be kept short.
6. The foreign tours to be limited by dept. secretary.
7. Reduction in study tours, workshops, conference, seminar, and paper presentation.
With regards,
M.K.Pachraiya
Original_app_mssg(1) Monetary policy
RBI had in it's monetary policy meeting increased the Repo rate. As per Governor, the steps taken would be taken back slowly. The liquidity problem had to be corrected and viewing the dearness, it was important to increase repo rate. But it is difficult to ascertain whether repo rate would be increased or not?
A quarterly mid term review of monetary policy:
1. Repo rate increased by 0.25% to 7.50%.
2. Reverse Repo rate is 6.5%.
3. CRR is stable at 4%.
4. CRR daily lmit is reduced to 95% from 99%.
5. MSF rate is reduced by 0.75% to 9.50%.
6. Bank Rate is 9.5%
WPI based Inflation would be more than estimated.
RBI had in it's monetary policy meeting increased the Repo rate. As per Governor, the steps taken would be taken back slowly. The liquidity problem had to be corrected and viewing the dearness, it was important to increase repo rate. But it is difficult to ascertain whether repo rate would be increased or not?
A quarterly mid term review of monetary policy:
1. Repo rate increased by 0.25% to 7.50%.
2. Reverse Repo rate is 6.5%.
3. CRR is stable at 4%.
4. CRR daily lmit is reduced to 95% from 99%.
5. MSF rate is reduced by 0.75% to 9.50%.
6. Bank Rate is 9.5%
WPI based Inflation would be more than estimated.
Original_app_mssg(2) GST
Rural Development Minister Jairam Ramesh on Friday accused Gujarat Chief Minister Narendra Modi of "single handedly" derailing the ambitious tax reform - GST - a brain child of the BJP-led NDA government, and championed by his Bihar party colleague Sushil Modi.
Rural Development Minister Jairam Ramesh on Friday accused Gujarat Chief Minister Narendra Modi of "single handedly" derailing the ambitious tax reform - GST - a brain child of the BJP-led NDA government, and championed by his Bihar party colleague Sushil Modi.
"The man who is the most powerful proponent of Goods and Services Tax (GST) today is Sushil Modi. But the most powerful opponent of GST is Narendra Modi.
New Delhi: Rural Development Minister Jairam Ramesh on Friday accused Gujarat Chief Minister Narendra Modi of "single handedly" derailing the ambitious tax reform - GST - a brain child of the BJP-led NDA government, and championed by his Bihar party colleague Sushil Modi.
"The man who is the most powerful proponent of Goods and Services Tax (GST) today is Sushil Modi. But the most powerful opponent of GST is Narendra Modi.
GST, which seeks to subsume various indirect taxes like excise, sales and service tax, was proposed by the Atal Bihari Vajpayee government and subsequently supported by Congress led UPA government.
However, Ramesh said the "revolutionary change in economic policy" has not turned into a realty because of opposition by the Prime Ministerial candidate of BJP.
"He (Narendra Modi) communicates on everything under the sun, I would like him to communicate to the country why he is opposing GST, why he is opposing his own party, why he is opposing Sushil Modi...Sushma Swaraj...Nitin Gadkari... Yashwant Sinha...Let him explain," the Rural Development Minister said.
He further said there is a universal consensus on GST and all industry associations and corporates who are supporting Narendra Modi are in favour of GST.
"All industrialists who appear on TV singing the praises for Modi want GST. His party is responsible for GST, his party manifesto say GST, his party leaders want GST but this one man has single handedly derailed the entire introduction of GST," he said. - PTI
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