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Monday, 27 June 2016

Grave injustice to Rajan, says PM

PM defends Rajan, rebukes Swamy

Breaking his silence over the episode, Prime Minister today said people who have questioned the patriotism of the outgoing Reserve Bank of India governor were doing him “great injustice”. The termed the attack on Rajan and other Finance Ministry officials as “improper” and declared that “no one is bigger than institutions”. The PM didn’t refer to anyone by name but said those indulging in “publicity stunts” should not think that they were furthering the cause of the nation. 

The PM strongly advocated the need for the Goods and Services Tax (GST) reform and hoped that the arithmetic, after the recent biennial elections to the Rajya Sabha, could pave the way for its passage in the forthcoming monsoon session. He singled out the Congress for stalling the government’s legislative agenda in the Upper House, including the constitution amendment, and termed those opposing the Bill as “anti-poor”. 

The PM responded to questions on a range of issues, from foreign policy to poor job growth, in an 85-minute interview to private channel Times Now. Nowhere did he refer to his party’s Rajya Sabha member by name, but seemed to say much both on Rajan as well as the GST that runs counter to Swamy’s statements on either of the two issues. 

In recent past, Swamy has doubted the patriotism of not just Rajan but also of Chief Economic Advisor Arvind Subramanian, attacked other finance ministry officials and made disparaging tweets that seemed directed at Arun Jaitley. The Finance Minister’s defence of officials was met by Swamy announcing that Jaitley can say whatever but he speaks only with the PM and party president Amit Shah. Swamy, brought into the Rajya Sabha earlier this year at the behest of the Rashtriya Swayamsevak Sangh (RSS) and a section of the Bharatiya Janata Party leadership, told industry lobby Indian Merchant Chamber on June 17 that the GST will be “no game changer”, and reminded the audience that Modi as Gujarat chief minister had opposed the tax reform. 

Party officials, in off the record briefings, have been conveying to media persons that the BJP doesn't agree with Swamy’s views but also that only the PM or Shah can make him fall in line. In a message that seemed aimed at both Swamy as well as his backers in the RSS, the PM asked people to conduct themselves responsibly and said anybody who thought they were bigger than institutions were wrong. “It is my clear message. I have no confusion about it,” he said, indications that the rift between a section of the RSS and Modi government was widening. 

In the interview, the PM stoutly defended Rajan. The PM pointed at the plethora of media reports in May-June 2014 that had wondered whether he will allow Rajan to complete his term. “But Rajan completed his entire tenure…,” Modi said. In an echo of Rajan’s statement that had announced that he was unlikely to pursue a second term at the RBI but will always serve his country, the PM said Rajan’s patriotism “is no less than any of ours”. Modi said his experience with Rajan was good and he appreciated the work Rajan had done. In comments that should assuage Non-Resident Indians willing to work for the government but unnerved after Swamy's attack, Modi said: “As much as I know Raghuram Rajan, whatever post he holds, wherever he is, he is someone who will continue to serve the country. He is someone who loves his country. Therefore, it's not like the nation won't get Rajan's services. Rajan is not that kind of a person,” the PM said. 

On other issues, Modi reiterated the need for simultaneous elections to the Lok Sabha and state assemblies, asserted that the Uttar Pradesh polls will be fought on the issue of development and advised the media to not make “heroes” out of those who claim to be BJP spokespersons and make irresponsible statements. He said development was the panacea to communal tensions as well. Modi said the investigation into the Agusta helicopter scam was on, and that it will be conducted professionally without targeting people. Modi said the scam was pulled off by those who had perfected this art and it was evident that they enjoyed a “shield”. On willful defaulters like industrialist Vijay Mallya who have gone overseas, the PM said: “I will show them what rule of law is.” 

The PM bemoaned the parliamentary logjam. He, however, said it was wrong to paint the entire opposition with the same brush as there were several non-NDA parties that have supported the legislative agenda of the government. He said GST will help the poor of UP, Bihar, Odisha and Bengal and its chief ministers – Akhilesh Yadav, Nitish Kumar, Naveen Patnaik and Mamata Banerjee – were keen for it to be passed. Modi said that only one party, the Congress, made opposing the GST a “prestige issue”. “But I will keep trying to convince…even if I have to go to someone’s house,” he said. 

On the issue of unaccounted money, Modi accused the government of allowing people with ‘black money’ opportunities from 2011 to 2014 to conceal it. The PM defended his Pakistan outreach and said his government was engaging with the democratically elected government in Islamabad, but there were other non-state actors that were also at play in that country. On India-US relations, Modi said India has been late in realizing that it was no longer a bipolar world. 

On New Delhi’s bid for an entry to the Nuclear Suppliers Group, the PM said the process has started on a “positive note” and will be pursued in conformity with the rules of the 48-member grouping. He said India and China disagreed on several issues but dialogue will continue. The important change, Modi said, was that India was keeping its concerns in unambiguous terms in front of China. Modi defended his frequent overseas tours. He said it was important for him to meet foreign leaders to dispel any misconceptions that they might have about him as an individual by reading media coverage about him. 

The PM said the cornerstone of his government’s policies was ‘Antyodaya’ or the welfare of the poorest. On the criticism that his government has failed to generate jobs, the PM said the data on job generation has failed to capture the job growth spurred by the scheme, that has disbursed loans to nearly 3.48 crore people. 

The PM said a correct assessment of his government’s two years in office should be made by comparing it with the last 10 years of the UPA, and not at the altar of the expectations that his election campaign had generated. On the promise that each Indian would have Rs 15 lakh in their bank accounts, Modi said: “That is something the opposition raises during elections. Let them have some issue to talk about.” 

Sensex stays flat after worst fall in four months

Mumbai, Jun 27 (PTI) After its biggest drop in over four months last week, market on Monday remained sandwiched in a tight band by ending with measly gains amid mixed global conditions.

There was an element of choppiness too ahead of the June derivative contract expiry coming up on Thursday.

Investors still are a worried lot as they tried to digest the full impact of the Brexit fallout.

However, the broader markets came up a little better as they outperformed Sensex, with the small-cap index rising 1.52 per cent and the mid-cap 0.80 per cent.

Sugar companies found themselves in a sweet spot as stocks led by Dalmia Bharat Sugar, Dwarikesh Sugar, Sakthi Sugars and Bajaj Hindusthan soared by up to 20 per cent in an otherwise flat market.

The 30-share Sensex closed at 26,402.96, a marginal rise of 5.25 points, or 0.02 per cent.

The gauge had plunged nearly 605 points on Friday, its biggest single-day fall since February 11, as a shock victory for 'Leave' camp in the UK referendum sent shivers down the spine of global markets.

The NSE Nifty ended higher 6.10 points, or 0.08 per cent, at 8,094.70 after shuttling between 8,039.35 and 8,120.65.

In the Sensex pack, Dr Reddy's was on top of the gainers' list by climbing 3.04 per cent, followed by SBI (2.77 per cent).

"Domestic sentiment was given a bit of a boost after global credit rating agency Moody's Investors Service reportedly said in a note that the Indian government's recent decision to relax FDI rules is credit positive," said Shreyash Devalkar, Fund Manager - Equities, BNP Paribas Mutual Fund.

Meanwhile, foreign portfolio investors sold shares worth net Rs 629.14 crore last Friday, provisional data showed.

In the 30-share Sensex basket, 14 rose while 14 declined and 2 remained unchanged.

I feel proud of Priyanka, Deepika: Anushka Sharma

Mumbai, Jun 27 (PTI) Anushka Sharma may not have any plan to try her luck in Hollywood, but the actress says she is proud of the work her contemporaries Priyanka Chopra and Deepika Padukone are doing in the West.

The 28-year-old actress, who has worked with Priyanka in "Dil Dhadakne Do," said she is happy with her achievements.

"It's great that both Deepika and Priyanka are doing good work there. Priyanka has achieved so much, she is a known name there. I feel proud of them," Anushka said in an interview.

The "NH10" star doesn't have any such dreams and will take things as they come.

"There is nothing like a dream as such (doing Hollywood films). I have never planned things in life, I believe in living life or doing things to the moment.

"I have never planned my career here in Bollywood, so planning to do Hollywood films is a distant thing. You have to see how things come. There is no active work towards getting there (to West)," she said.

Anushka will next be seen in Ali Abbas Zafar-directed "Sultan", which stars Salman Khan in the lead role. The YRF project will hit the theaters this Eid.

The actress is currently working on her next production venture "Phillauri". The movie also stars Punjabi superstar Diljit Dosanjh, who recently made his Bollywood debut with "Udta Punjab".

Thursday, 23 June 2016

Sensex zooms 295 points, regains 27k-level in pre-close trade

 Mumbai, Jun 23 (PTI) Making a strong turnaround from the cautious start, the BSE Sensex rebounded 295 points to trade above the crucial 27,000-mark in late afternoon deals, driven by a firming trend in global market as UK voters began to cast ballots on 'Brexit' referendum.

The 30-share index flared up by 295.33 points or 1.10 per cent to 27,060.98 at 1500 hrs.

Sentiment turned better largely in tune with a firming trend in other Asian markets and a higher opening in European shares as Britain began voting in a historic referendum on its future in the European Union.

The rupee strengthening by 21 paise to 67.27 against the American currency (intra-day) at the forex market, too supported the market.

Banking, auto, healthcare, FMCG, capital goods, oil&gas, PSU, IT and Metal, led the rebound.

Also, the 50-share NSE Nifty was quoting higher by 74.80 points or 0.91 per cent at 8,278.50.

Among the 30-Sensex constituents, Tata Motors, Dr Reddy's, SBI, Sun Pharma, ITC, Axis Bank, HDFC Bank, Lupin, Hindustan Unilever, Power Grid, Infosys, Bajaj Auto and M&M gained up to 3.12 per cent.

Globally, Hong Kong's Hang Seng index closed 0.35 per cent higher, while Japan's Nikkei gained 1.07 per cent. European markets were also in the positive zone with London's FTSE 0.67 per cent up, France's CAC 0.93 per cent higher and Frankfurt-based DAX 0.86 per cent in the green.

Britain votes on EU membership after tight and bitter campaign

 London : Britons were voting on Thursday on whether to stay in the European Union in a referendum that has split the nation and is being nervously watched by financial markets and politicians across the world.

Opinion polls taken before the vote indicated the outcome is too close to forecast, although two polls published late on Wednesday suggested a swing towards "Remain".

Much will depend on turnout, with younger Britons seen as more supportive of the EU than their elders but less likely to vote.

Polling stations opened at 0600 GMT (0200 EDT) and will close at 2100, with results expected to be announced by the 382 individual local counting areas between around 0100 and 0300 on Friday.

Prime Minister David Cameron called the vote under pressure from the anti-EU wing of his Conservative Party and the surging UK Independence Party (UKIP), hoping to end decades of debate over Britain's ties with Europe.

The "Leave" campaign says Britain's economy would benefit from an exit from the EU, or Brexit. Cameron says it would cause financial chaos and impoverish the nation.

He voted early, and said on Twitter: "Vote Remain - so that our children and grandchildren have a brighter future."

His main rival, former London mayor Boris Johnson, whose decision to support "Leave" galvanized its campaign, told voters on Wednesday this was the "last chance to sort this out".

It is only the third referendum in British history. The first, also about membership of what was then called the European Economic Community, was in 1975.

Most polls put the "Leave" and "Remain" camps neck-and-neck at the end of a bitter four-month campaign that was dominated by immigration and the economy, and shaken by the murder of pro-EU lawmaker Jo Cox last week.

Modi arrives in Uzbekistan for SCO summit

 Tashkent, Jun 23 (PTI) Prime Minister Narendra Modi arrived here today to a warm welcome as he kicked off a two-day visit to attend the annual summit of the SCO with an aim to expand India's engagement with the China-dominated grouping in areas of security, defence and energy.

In a special gesture, Modi was received at the Tashkent international airport by his Uzbek counterpart Shavkat Miromonovich Mirziyoev.

In the two-day summit that begins today, the Shanghai Cooperation Organisation (SCO) will start the process of India's accession to the grouping as a full-fledged member along with Pakistan.

However, the spotlight is on Modi's bilateral meeting with Chinese President Xi Jinping later in the day during which the Prime Minister is expected to seek China's support for India's membership at the Nuclear Suppliers Group (NSG) that controls access to sensitive nuclear technology.

Giving clear indications of its opposition to India's bid for entry into the atomic trading club, China had yesterday underlined the differences within NSG members, saying "parties are yet to see eye-to-eye on this issue".

It, however, said it will play a constructive role in the discussions.

Coinciding with the SCO summit, the two-day annual plenary of the NSG begins today in Seoul during which India's application for membership of the atomic trading club is set to be deliberated upon.

Prior to his departure from New Delhi to Tashkent, Modi said India looks forward to fruitful outcome from its engagement at the SCO summit.

India's entry into SCO as a full member will provide it an opportunity to have extended cooperation with member countries in areas of defence, security and counter-terrorism.

"I will travel to Uzbekistan for a brief visit to attend the SCO Summit and interact with leaders of SCO nations. India is glad to be a member of the SCO and looks forward to fruitful outcomes particularly in the field of economic cooperation through SCO," the Prime Minister said in a statement before leaving for Tashkent.

He said India attaches great importance to ties with Central Asia and always seeks to expand economic and people-to-people ties with the region.

Secretary (West) in the Ministry of External Affairs Sujata Mehta had yesterday said "The process of India's accession to the SCO will start with a signature on the base document which is called the Memorandum of Obligations".

Asked whether India will become a full member of the SCO, she said there was a schedule laid down for India to sign over 30 other documents and it will happen as the year goes by.

Wednesday, 22 June 2016

Priyanka hits back at trolls with 'pit-stopping' image

 Mumbai, Jun 22 (PTI) Bollywood star Priyanka Chopra has shared a new picture of herself flaunting her armpits, in reply to trolls which claimed they were "too perfect" in her latest photoshoot for a lifestyle magazine.

The 34-year-old "Quantico" star, who is currently vacationing in Paris, took to Instagram to share the photo.

"Heres another 'pit-stopping' picture to add to the debate. #WillTheRealArmpitPleaseStandUp #nofilter #armpitdiaries," she captioned the photo.

Wearing a casual striped top and shades, the actress has posed with her hands behind her head.

Priyanka's cover for a men's magazine recently faced a lot of flak on Twitter for photoshopping her armpits.

Twitter users called it an unrealistic expectation.

On work front, Priyanka will next be seen playing an antagonist Victoria Leeds in "Baywatch" movie, which also stars Dwayne "The Rock Johnson" and Zac Efron.

3rd National Standards Conclave

Department of Commerce, Government of India in collaboration with Confederation of Indian Industry (CII), Bureau of Indian Standards (BIS) and the National Accreditation Board for Certification Bodies (NABCB) and other knowledge partners is organizing the 3rd National Standards Conclave on 23-24 June 2016 in New Delhi. The Conclave will be inaugurated by Commerce and Industry Minister Smt. Nirmala Sitharaman. 

The objective of the two day Conclave is to bring awareness and prepare Industries, Central Government Ministries, State Governments, regulatory/standards setting and conformity assessment bodies on the growing importance of “Standards” in the changing scenario of global trade. The Standards Conclave is being held in the backdrop of diminishing importance of tariffs and rising influence of standards and regulation both in goods and services trade. 

It must be recognized that the days of differential standards – low for domestic market and high for exports - are over and if the Indian industry has to survive and thrive, it has to adopt global standards. The Ministries/regulators/state governments have to also realize that their initiatives and schemes have to be built around global standards if they have to succeed in their objectives. A good standards regime shall fulfill the vision of Hon’ble Prime Minister for “Zero Defect, Zero Effect” and Make in India campaigns. It would also help in preventing flooding of domestic market with unsafe/sub-standard imports at the expense of our domestic industry as well as consumers. 

The collective endeavor has to be in creating an ecosystem where adoption of appropriate standards leads to a sense of pride and has in-built incentive for the Industry. The Conclave would also aim at identifying gaps in our regime so that they are brought either in harmony with the international standards or conform to national requirement. 

The conclave will have 9 sessions spread over 2 days: 

a. Inaugural session 

b. Session 1: Emerging international challenges

c. Session 2: Other international and regional developments

d. Session 3: Standards eco-system

e. Session 4: Challenges for MSME sector

f. Session 5: States Case studies

g. Session 6: Service Standards

h. Session 7: Service Standards

i. Session 8: Setting the right ecosystem– Sectoral analysis

j. Session 9: Way Forward

PSLV-C34 Successfully Launches 20 Satellites in a Single Flight

  

In its thirty sixth flight (PSLV-C34), ISRO's Polar Satellite Launch Vehicle successfully launched the 727.5 kg Cartosat-2 Series Satellite along with 19 co-passenger satellites today morning from Satish Dhawan Space Centre SHAR, Sriharikota. This is the thirty fifth consecutively successful mission of PSLV and the fourteenth in its 'XL' configuration. The total weight of all the 20 satellites carried on-board PSLV-C34 was 1288 kg. 

After PSLV-C34 lift-off at 0926 hrs (9:26 am) IST from the Second Launch Pad with the ignition of the first stage, the subsequent important flight events, namely, strap-on ignitions and separations, first stage separation, second stage ignition, heat-shield separation, second stage separation, third stage ignition and separation, fourth stage ignition and cut-off, took place as planned. After a flight of 16 minutes 30 seconds, the satellites achieved a polar Sun Synchronous Orbit of 508 km inclined at an angle of 97.5 degree to the equator (very close to the intended orbit) and in the succeeding 10 minutes, all the 20 satellites successfully separated from the PSLV fourth stage in a predetermined sequence. 

After separation, the two solar arrays of Cartosat-2 series satellite were deployed automatically and ISRO's Telemetry, Tracking and Command Network (ISTRAC) at Bangalore took over the control of the satellite. In the coming days, the satellite will be brought to its final operational configuration following which it will begin to provide remote sensing services using its panchromatic (black and white) and multispectral (colour) cameras. 

The imagery sent by the Cartosat-2 series satellite will be useful for cartographic applications, urban and rural applications, coastal land use and regulation, utility management like road network monitoring, water distribution, creation of land use maps, precision study, change detection to bring out geographical and manmade features and various other Land Information System (LIS) and Geographical Information System (GIS) applications. 

Of the 19 co-passenger satellites carried by PSLV-C34, two – SATHYABAMASAT weighing 1.5 kg and SWAYAM weighing 1 kg – are University/Academic institute satellites and were built with the involvement of students from Sathyabama University, Chennai and College Of Engineering, Pune, respectively. 

The remaining 17 co-passenger satellites were international customer satellites from Canada (2), Germany (1), Indonesia (1) and the United States (13). 

With today’s successful launch, the total number of satellites launched by India’s workhorse launch vehicle PSLV has reached 113, of which 39 are Indian and the remaining 74 from abroad. 

Tuesday, 21 June 2016

20 satellites set for launch tomorrow: ISRO



 

Chennai, Jun 21 (PTI) Countdown for the launch of as many as 20 satellites including, India's earth observation Cartosat-2 Series Satellite, is in smooth progress, ISRO said today.

The countdown exercise encompasses spacecraft health checks and preparations for propellant filling operation of second stage (PS2) of PSLV-C34 is in progress.

"Spacecraft health checks and preparations for propellant filling operation of second stage (PS2) of PSLV-C34 are under progress. Countdown is progressing normally," ISRO said.

The 48-hour countdown began yesterday at 9.26 am for the launch of 20 satellites onboard PSLV C-34 from Sriharikota tomorrow.

The countdown began after the launch authorisation board (LAB) gave its nod and filling of Mixed Oxides of Nitrogen (MON-3) of PS4 was completed yesterday.

Cartosat-2 Series is similar to the earlier Cartosat-2, 2A and 2B, and 19 co-passenger satellites together weighing about 560 kg at lift-off would be injected into a 505-km polar Sun Synchronous Orbit.

According to ISRO, the total weight of all the 20 satellites is about 1,288 kg.

The co-passengers include satellites from the US, Canada, Germany and Indonesia as well as two satellites from Indian Universities.

The mission would carry LAPAN A3 of Indonesia, BIROS of Germany, SKYSAT GEN 2-1 of US, MVV of Germany among the micro satellites, ISRO sources had earlier said.