Budget 2018-19

  Deposits are customers’ money and not govt assets, hence can’t be attached: Lenders Indian public sector banks with substantial presence abroad are legally ready to mount a challenge abroad to counter any efforts by Cairn Energy to attach their assets. The development comes on the back of Cairn Energy saying on Tuesday that it was taking all necessary action to access the $1.7 billion it was awarded by the international arbitration tribunal after overturning the retroactive tax demand slapped by the Indian government. Given that deposits with overseas branches is public money and not a sovereign asset, attaching funds in such accounts is beyond the realm of rights of the said company, said people in the know. Senior PSB chiefs said that the government had warned them of the possibility of Cairn attaching funds, and had asked the lenders to keep them (the government) informed. The government has nominated a person for prompt and co-ordinated response. The banks’ stand is clear — d...

  Rajasthan Chief Minister Ashok Gehlot on Thursday announced a special package for the setting up of medical oxygen production plants with various incentives and facilities To prevent high number of casualties from Covid-19, Rajasthan Chief Minister Ashok Gehlot on Thursday announced a special package for the setting up of medical oxygen production plants with various incentives and facilities. According to the official release, the decision is aimed to overcome the medical oxygen shortage caused by the COVID-19 epidemic in the state. To get the advantage of the package, an investment of Rs 1 crore will be required and the plant will have to generate oxygen by September 30, 2021. “Under the package, these entrepreneurs will be exempted from the regulatory approvals and inspections for three years as per the provisions of the MSME Act, 2019,” the release reads. The state government will also help in getting necessary approvals from the central government, and an early connection of...

Of late, BJP and party chief Amit Shah's cloak of invincibility has been perceived to be slipping The Bharatiya Janata Party’s (BJP’s) celebrations over winning Tripura, and forming coalition governments through the back door in Meghalaya and Nagaland, continued at its parliamentary party meeting on Tuesday morning. BJP Members of Parliament (MPs) distributed sweets, and raised slogans that now it was the party’s turn to win Karnataka. Yes, the BJP won Tripura handsomely. But it won neither Meghalaya, where it got two of the 60 seats, nor Nagaland. The Congress was decimated in Tripura and Nagaland, and emerged the single-largest party in Meghalaya. Together, the three states send five MPs to the Lok Sabha – Tripura and Meghalaya send two each and Nagaland sends one. The BJP has put some thought into its strategy to continue celebrating its Tripura win, and form coalition governments in Meghalaya and Nagaland. It needs to restore the impression of invinc...

Another Valentine's day is upon us and young men and women across India will risk head shavings, face blackening, public thrashings and forcibly solemnised marriages   It’s that time of the year again. Time for fear to stalk hearts that beat with love and longing. Time for the memories of humiliation and harassment in the name of moral policing to haunt those who commit the “crime” of dating. Time for the looming threat of abuse and assault to strike again. Another Valentine’s day is upon us and young men and women across India will risk head shavings, face blackening, public thrashings and forcibly solemnised marriages – all in the name of saving our impressionable youth from the wicked influence of sinful Western culture and its notions of romantic love. Politically-connected petty criminals claiming to be self-appointed protectors of India’s ancient culture will be out chasing young men and women in card shops, parks, hotels, restaurants and shopping malls, thre...