LS Speaker advises Mann not to attend House till security issue resolved

 issue resolved

New Delhi/Chandigarh, Jul 25 (PTI) AAP MP Bhagwant Mann, whose videography of Parliament House complex kicked up a row, was today "advised" not to attend Lok Sabha by Speaker Sumitra Mahajan till a decision is taken on the alleged security breach which will be probed by a nine-member House panel.

Mann on his part accused BJP, Congress and Akali Dal of joining hands to "suppress his voice" in view of the Punjab Assembly polls due in 2017.

The panel set up by the Speaker has been asked to submit its report by August 3, while Mann has time till tomorrow morning to submit his explanation to the committee.

It is chaired by BJP member Kirit Somaiya,

"The act of the member of audio-visual recording of the Parliament and posting it on the social media puts the security of Parliament in peril," the Speaker said, adding that several members had expressed concern over the issue on Friday last.

The member is "advised not to attend the sittings of the House" until a decision is taken in the matter, Mahajan said.

Mann was not present in the House.

As soon as the House assembled, she informed it about the action being taken on the issue which had led to the adjournment of Lok Sabha proceedings on July 22.

"The inquiry committee shall inquire into the serious security implications and related aspects.... (and) suggest suitable remedial measures to avoid recurrence of such incidents in future and recommend appropriate action in the matter," the Speaker said.

Last week, Mann had put out in the social media a video of his vehicle passing security barricades and entering the Parliament complex. He had also videographed a room where Parliament questions were being sorted out.

Apart from chairperson Somaiya, the panel has two other BJP members -- Meenakshi Lekhi and Satyapal Singh. Others are Anandrao Adsul (Shiv Sena), B Mahtab (BJD), Ratna De (TMC), Thota Narasimham (TDP), K C Venugopal (Cong) and P Venugopal (AIADMK).

The panel has no member from Shiromani Akali Dal. Mann represents Sangrur in Punjab.

The panel would look into the serious security implications and related aspects "germane to and arising out of the conduct of audio-visual recording around Parliament House by Mann on July 21, 2016 and subsequent uploading of the said audio-visual recording by him on social media".

Mann claimed he has been "barred" from raising issues of public by being not allowed to attend the House proceedings.

He said the "grand alliance" of BJP, Congress and Akalis has hatched a "conspiracy against me as I am very active in the House and raise issue of the public".

"It has happened in the wake of Punjab polls," he told reporters in Chandigarh.

"With this decision, it means that I cannot raise issues of public till August 3. They could have told me to appear before the committee and allowed me to attend the House to raise issues of the public. Attending the Session in Parliament is my right. They have encroached upon the rights of lakhs of people," he said.

Sensex zooms 292 pts to regain 28,000, Nifty hits 15-mth high

 Mumbai, Jul 25 (PTI) Market made a stunning comeback from early losses today as the BSE Sensex reclaimed the 28,000-mark by surging 292 points while Nifty closed at its highest level in 15 months, fuelled by widespread gains on optimism over passage of the GST bill in Parliament.

Moreover, continued foreign fund inflows and a firm trend in Asian and European bourses following assurances from global policymakers on the need to boost growth, lifted market sentiment.

Leaders from the Group of 20 countries agreed at the weekend to work to support global growth and better share the benefits of trade, in a meeting dominated by the impact of Britain's exit from Europe and fears of rising protectionism.

"Markets closed on strong note as participants engaged in widening their bets on hopes that much-awaited GST bill may by passed in Rajya Sabha," Manoj Choraria, a Delhi-based NSE stock broker said, adding foreign fund inflows will pick up further once the bill is passed.

The Sensex after resuming down at 27,753.96 slipped further to the day's low of 27,736.51. Thereafter, it staged a solid comeback to reclaim the 28,000-mark and hit a high of 28,110.37, before finishing 292.10 points or 1.05 per cent higher at 28,095.34, its highest closing since August 10.

The 50-share NSE Nifty recaptured the 8,600-level and went up to hit the day's peak of 8,641.15. It finally settled higher by 94.45 points or 1.11 per cent at 8,635.65. This is the highest close since April 16 last year when the index ended at 8,706.70.

From the Sensex pack, Maruti Suzuki India, the country s biggest carmaker, climbed 3.11 per cent to Rs 4,550.60 followed by SBI, rising by 2.86 per cent at Rs 229.85.

Other blue-chips that supported the rally included Asian Paint, ICICI Bank, ONGC, Sun Pharma, HDFC Ltd, TCS, M&M, HDFC Bank, Lupin Ltd, Cipla, Wipro, Bharti Airtel, L&T and Infosys.

Axis Bank after initial hesitancy on disappointing earning numbers, ended 0.14 per cent higher at Rs 538.30.

Sector-wise, BSE PSU gained the most (1.92 per cent) followed by banking (1.65 per cent), oil&gas (1.52 per cent), consumer durables (1.38 per cent), realty (1.15 per cent) infra (1.10 per cent) teck (0.96 per cent), power (0.96 per cent) and IT (0.96 per cent).

Buying activity in broader markets also gathered momentum, with the BSE small-cap index rising 1.05 per cent and mid-cap gaining 1 per cent.

Globally, Asian markets closed the day mixed with Hang Seng rising 0.13 per cent, Shanghai Composite Index up 0.10 per cent, while Japan's Nikkei fell 0.04 per cent.

European stocks were higher in their early session. Key indices, like the UK's FTSE was up 0.17 per cent, Paris CAC gained 0.77 per cent and Frankfurt's DAX rose 0.98 per cent.

Belgium parliament to consider resolution on lifting EU sanctions against Russia — MP

The member of the parliament Aldo Carcaci said the draft resolution discussion may be organized after the parliamentary holidays

© EPA/OLIVIER HOSLET


BRUSSELS, July 24. /TASS/. Belgium's parliament has registered for further consideration a resolution on lifting of the European Union's sanctions against Russia, author of the draft resolution MP Aldo Carcaci told TASS on Sunday.

The member of the parliament said the draft resolution discussion may be organized after the parliamentary holidays.

The EU economic sanctions against Russia remain in force to January 31, 2017. This autumn, the EU Council will have a wide discussion on further relations between the European Union and Russia, including milder sanctions or lifting them.

Sanctions and import substitution

For incorporation of Crimea after last year’s coup in Ukraine, Russia came under sanctions on the part of the United States and many European countries. The restrictive measures were soon intensified following Western and Ukrainian claims that Russia supported militias in self-proclaimed republics in Ukraine’s southeast and was involved in destabilization of Ukraine.

As countermeasures, Russia imposed on August 6, 2014 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the European Union, the United States and Norway.

The Russian authorities have repeatedly denied accusations of "annexing" Crimea, because Crimea reunified with Russia voluntarily after a referendum.

A system of import substitution had to be introduced in Russia in connection with imposition of Western sanctions on Russia for developments in Ukraine and Moscow’s countersanctions.

No clue of missing IAF plane, satellite imagery sought

 Chennai/Vishakhapatnam, Jul 24 (PTI) As the arduous operation to trace the IAF's missing AN32 aircraft with 29 people on board stretched into the third day today, the search and rescue team is now seeking satellite imagery to find any clue of the plane that lost contact over the Bay of Bengal.

"There is no sign of the plane as yet," a senior defence official said.

At least 18 navy and coast guard ships including a submarine, and eight aircraft like P 81, C 130 and Dorniers are involved in the round the clock operation to search for the Port Blair-bound transport plane which went missing after it took off from the Tambaram air base near Chennai at 8.30 AM on July 22.

Inclement weather was posing a major challenge in the operation. The authorities are now seeking satellite imagery of the area.

"The search operation is continuing on a 24-hour basis and all resources at disposal are being used.

"We have also sought satellite information," Eastern Naval Command chief Vice Admiral HCS Bisht said in Vishakhapatnam.

"The depth of water there is about 3,500 metres and in some place it is even more. As the depth increases, challenges also increase," he said, adding that the weather was rough and it was raining.

He said the family members are being updated on a regular basis.

Meanwhile, airforce authorities have lodged a formal complaint with Tamil Nadu police over the missing AN-32 aircraft.

"We have received a complaint that Air Force's AN-32 transport aircraft has gone missing," a senior police official said today.

"The complaint was lodged last night with Selaiyur police," he said.

"The complaint says that 29 personnel on board AN-32 and the aircraft have gone missing. Among the missing personnel is one person from Tamil Nadu," the official told PTI.

The complaint has been lodged for legal purposes. A similar complaint was filed when Coast Guard's Dornier aircraft went missing last year. The wreckage of the CG Dornier aircraft and bodies of its crew were later found off Cuddalore in Tamil Nadu.

The Russian-made workhorse made the last radio contact at 0846 hours, 16 minutes after take off, on Friday.

Worries mounted for the authorities as time was running out and no positive signals emerged from the operations 

Defence Minister Manohar Parrikar yesterday undertook an aerial survey to personally monitor the search and rescue operations.

GST listing in RS likely this week, Jaitley to meet state FMs

 New Delhi, Jul 24 (PTI) Government is likely to list the much-delayed GST Bill for discussion in the Rajya Sabha this week after Finance Minister Arun Jaitley meets state finance ministers on Tuesday.

Jaitley, who has been engaged in back-channel negotiations with Congress leaders to get the main opposition party on board, will discuss proposed amendments to the GST legislation passed by the Lok Sabha at the meeting of the empowered committee of state finance ministers.

The meeting may take up changes as demanded by the Congress in the constitutional amendment Bill, including one for scrapping of one per cent additional tax in hands of the states, official sources said.

The Goods and Services Tax (GST) Bill will be listed for discussion in the Rajya Sabha after taking on board views of the states.

On Friday, while listing out government business for the week beginning July 25, Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi told the Rajya Sabha that the GST Bill will come up for discussion next week.

"(This is for) further consideration and passing of the Constitution 122nd Amendment Bill, 2014, as passed by the Lok Sabha and as reported by the Select Committee of the Rajya Sabha," he said in the Upper House.

The Congress, which originally mooted GST in 2009 to replace all indirect taxes, has been demanding that the overall rate be capped at 18 per cent and scrapping of an additional 1 per cent tax designed to compensate manufacturing states that fear losing out on revenue. It also wants an independent mechanism to resolve disputes between states over revenue sharing.

While Jaitley has indicated his openness in scrapping the 1 per cent additional tax after a panel headed by Chief Economic Advisor Arvind Subramanian favoured it, the issue needs to be discussed with the manufacturing states.

In order to mobilise support from regional parties for the long-pending indirect tax reform, Jaitley met Bihar Chief Minister and JD(U) leader Nitish Kumar and courted senior leadership of Andhra Pradesh and Telangana over the weekend.

SC junks plea for action against Bollywood actor Aamir Khan

 New Delhi, Jul 22 (PTI) The Supreme Court today dismissed a plea seeking registration of an FIR against Bollywood super star Aamir Khan for allegedly making "improper" use of national emblem on his TV show 'Satyamev Jayate'.

A bench comprising Chief Justice T S Thakur and Justices F M I Kalifulla and A M Khanwilkar rejected the plea of Chandigarh-based NGO Arrive Safe Society and said if the petitioner has any grievances, the proper forum like police could be approached.

Harman S Sidhu, who runs the Chandigarh-based NGO, had approached the apex court after his plea was dismissed by the Punjab and Haryana High Court.

Sidhu in his plea argued that offences punishable under Emblems and Names (Prevention of Improper Use) Act, 1950 and The State Emblem of India (Prohibition of Improper Use) Act, 2005 has been committed by the actor by showing the emblem without due permission of the Union government.

He had also alleged that Khan and others made improper use of national emblem "for private commercial gains," which is illegal.

To buttress his claims, Sidhu had referred to an episode of the 'Satyamev Jayate' series in which Khan had highlighted how a majority of road accidents cannot be dismissed as accidents and should be termed murders.

Sensex ends 93 pts up on earnings lift, fund inflows

Mumbai, Jul 22 (PTI) Extending its consolidation phase, the BSE Sensex today recovered marginally by 93 points on selective buying by retail investors and sustained foreign inflows even as Asia ended weak, tracking a pullback in US markets from record highs.

The market opened positive on overnight earning numbers of FMCG major ITC, while subdued Asian cues weighed on trading momentum after Bank of Japan (BOJ) chief Haruhiko Kuroda's comments dashed hopes for so-called 'helicopter money'.

The indices moved between gains and losses till late afternoon, but saw emergence of buying on string of positive earning results and reports that Rajya Sabha will take up the GST Bill for discussion next week.

Besides, encouraging first quarter earning numbers by some bluechips buoyed trading sentiment.

However for the week, markets turned lower with Sensex and Nifty down 33.26 points and 0.20 points, respectively.

On the day, Biocon climbed 15.28 per cent to Rs 808.70 after the firm posted 17 per cent rise in net profit for the first quarter, while Cairn India ended 8.72 per cent up at Rs 192 after hitting a fresh 52-week high of Rs 198.40.

"Neither weak Asian markets nor Europe through the day failed to drag Indian stocks lower as a week long consolidation had already brought several stocks to lower levels, attracting value-buying and short covering," said Anand James Chief Market Strategist Geojit BNP Paribas FS.

The Sensex opened a shade higher at 27,721.72 and advanced to hit a high of 27,832.45, before settling at 27,803.24, a gain of 92.72 points or 0.33 per cent.

The 50-share NSE Nifty after hovering between 8,548.95 and 8,489.80, settled higher at 8,541.20, recording a gain of 31.10 points or 0.37 per cent.

Mortgage lender HDFC rose 1.78 per cent to Rs 1,355.65 on plans to raise Rs 2,000 crore via non-convertible debentures on a private placement basis.

Elsewhere, Japan's Nikkei ended 1.09 per cent down while Hong Kong's Hang Seng shed 0.16 per cent. Shanghai composite index lower by 0.86 per cent.

Besides, Europe was trading higher with London's FTSE rising 0.26 per cent, Paris up 0.41 per cent and Frankfurt 0.14 per cent in the green.

The US stocks snapped a nine-day string of gains, as a hot equity market cooled ahead of key central bank meets.

Brexit

Government has assessed the impact of Brexit on the Indian economy. Thus far, India has not only avoided adverse impacts, it has in fact emerged as a safe haven for investors around the world. 

For example, the rupee depreciated against the US dollar by around 1 per cent for one day post-Brexit referendum, while currencies of other emerging markets depreciated for many days. But on a cumulative basis, the rupee has actually appreciated by 0.3 per cent on 19th July 2016 over 23rd June 2016. Similarly, the Sensex fell only on one day by around 2 per cent while the equity index of many other developed and developing countries fell by a higher percentage for many days after Brexit referendum. On cumulative basis, the Sensex has risen by 2.9 per cent on 19th July 2016 over 23rd June 2016. The G-sec rate has also declined from 7.48 per cent to 7.28 per cent over this period. By virtue of its domestic policies, India is seen as a haven of stability and opportunity in these turbulent times. 

As a part of the global economy, India will obviously be affected if there is slowdown in growth in the UK and EU following Brexit. India’s exports in goods to the UK and EU (including UK) have been around 3 per cent and 17 per cent of our total exports. India also exports roughly $10 billion in software to both the UK and EU. Overall though, India’s exports to both UK and Europe have been on a downtrend in the past two years on account of subdued demand led by a frail and scattered recovery in the region. The forecast of global growth for 2016 has also been revised downward by the IMF from 3.2 per cent to 3.1 per cent in the aftermath of Brexit. 

However, these potential effects on India’s growth could be offset by the weaker price of oil, which will help maintain macro-stability, and by the likelihood of more policy support in the advanced economies. Moreover, the impact of Brexit on trade, if any, in the medium term, would also depend on bilateral trade negotiations that will determine India’s future market access to these countries. 

While the Government and the RBI are closely monitoring the situation, India’s macroeconomic fundamentals are strong. Besides, the strong forex reserves position can provide a buffer against any temporary episodes of volatility in the domestic foreign exchange market. Further, RBI’s proactive liquidity management could ensure stability and calm in money markets. As regards the stock market, the Government and Securities and Exchange Board of India (SEBI) are keeping a constant vigil. SEBI has laid down various regulations and guidelines for protecting investors’ interest and ensuring orderly functioning of the stock market. 

This information was given by Union Minister for Finance Shri. Arun Jaitley today in reply to a Lok Sabha question. 

Indian Navy puts its might in search operations for Missing air force aircraft AN-32

ENC deploys two P8i Long Range Maritime Patrol Aircraft with advanced Electro-optics and radars, two Dornier aircraft and twelve ships with integral helicopters to join the search operations initiated to locate the Indian Air Force AN-32 transport aircraft reported missing approx 300 km due East of Chennai this morning. The AN-32 was on a routine sortie from Air Force Station Tambaram to Port Blair and reported to have 29 personnel onboard including the crew. 

Four ships of ENC which were deployed in the Bay of Bengal on different missions, have been diverted to the search area and eight ships of Eastern Fleet with Fleet Cdr embarked onboard which are on return passage from the South China Sea are also proceeding at best speed to join the search operations. A submarine at sea is also diverted to the area for locating the transmissions from emergency locator beacon onboard the aircraft. 

Need mix of fiscal, monetary policies to deal with Brexit: FM

 Shanghai, Jul 21 (PTI) India has underlined the need for a judicious mix of fiscal, monetary and structural policies by major economies to deal with the heightened uncertainty on account of Brexit.

"Governments, Central Banks and regulators have to mitigate the pressure of such vulnerabilities through judicious mix of fiscal, monetary and structural policies," Jaitley said in his speech at the meeting of the Board of Governors of the New Development Bank (NDB).

In his speech, read out by Joint Secretary in the Finance Ministry Raj Kumar, Jaitley said that Britain's decision to exit from the European Union, commonly termed as Brexit has further heightened uncertainty, market volatility and risk-averse behaviour.

Kumar represented India at the first annual general body and board of governors meetings of the NDB which took place in Shanghai yesterday, as Jaitley could not attend it because of the ongoing Parliament session back home.

Outlining the challenges, he said the current global economic context is far from being robust and is marked by a modest pickup in some advanced economies from their low levels of growth.

He also said that decline in growth in emerging markets and developing economies, increased financial sector volatility, and, in general, a downward revision of global growth projections by the International Monetary Fund (IMF) also pose challenges.

IMF earlier this week has cut global growth forecast for 2017 by 0.1 percentage point to 3.4 per cent citing "substantial" increase in economic, political, institutional uncertainty on account of Brexit.

Jaitley said the structural problems of emerging markets and developing economies (EMDE) continue to affect their growth.

"The sluggish global trade and low commodity prices have also adversely affected commodity-exporting EMDEs, by aggravating their corporate and other economic vulnerabilities," he added.

India, Jaitley stressed, is following the approach of 'Reform to Transform' through far reaching structural reforms.

"We have taken several initiatives to boost investment climate and improve the ease of doing business," he said.

Referring to the initiates, he said setting up National Infrastructure Investment Fund would stimulate investment in infrastructure and Insolvency and Bankruptcy Code 2016, for easier exit of companies have been passed by Parliament.

Besides, programmes such as Make in India, Start-up India, and Skill India are focused on encouraging innovation, entrepreneurship and job creation.

The government has launched a massive financial inclusion programme and more than 20 crore bank accounts have been opened for the unbanked persons.

"We are now using Aadhaar, a unique identification system with statutory backing, as backbone for targeted delivery of financial and other subsidies, benefits and service," Jaitley said.