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DAILY NEWS ANALYSIS from THE HINDU 17th August 2017 By Jatin Verma Educator Unacademy
*Analysis: View of Analysts: Analysts say that having PPPs at the construction stage is not advisable since the construction risk in an urban environment is very high. They suggest that it is far better for Govt. to be the front entity rather than a private party. However PPP may work in the operations and maintenance space Positive aspect of the policy is its focus on last mile connectivity through feeder services for a catchment area of 5km. The move comes at a time of rising demand for metro rail networks and various state governments making project proposals. . From 2014 to 2017,the Union urban development ministry sanctioned Rs30,653.78 crore for metro rail projects, out of which only Rs12,345.33 crore was released to companies overseeing them. . In the current fiscal year, the ministry has allocated around Rs17,960 crore for metro rail companies, of which, till the first quarter ended June, only Rs4,650 crore had been spent. The figures are for Uttar Pradesh, Maharashtra, Gujarat, Rajasthan, Tamil Nadu, Kerala, Karnataka, and Delhi NCR. [Mass Rapid Transport Systems]
Page-7: Corpus fund for proceeds of education cess. . The Cabinet approved the setting up of a single corpus fund, in which all proceeds of secondary and higher education cess will be credited.These will be utilised for the government's schemes in the education sector. The HRD Ministry will be responsible for the administration and maintenance of the non-lapsable pool that will be known as "Madhyamik and Uchchtar Shiksha Kosh (MUSK). The funds arising from the MUSK will be utilised for schemes in the education sector which would be available for the benefit of students of secondary and higher education. Background: (i) During the 10th Plan, an education cess of 2% on all central taxes. Finance Minister, in his budget speech of 2007 proposed an additional cess of 1% on central taxes for secondary and higher education. (ii) A cess @ 1% on central taxes, called the "Secondary and Higher Education Cess" was levied through Finance Act, 2007 to "fulfil the commitment of the Government to provide and finance secondary and higher education" (Section 136 of the Act).
Page-10: Smartphones under scanner for 'leaking' data . Concerned about instances of Indian mobile phone users' contact lists, details and text messages being leaked to other countries, including China, the government has asked all firms selling smartphone handsets in the country to share details of the processes they follow to ensure there is no possibility of data thefts or leakages from their devices. . The government is concerned not just about the security features of the handsets being sold, but also of d programmes that are a part of the user experience, such as the operating system,browser and pre-loaded applications. . As a first step in this direction, Govt. has asked all smartphone sellers in the country to inform us of the security procedures they follow to ensure data security of the users of those devices.They have to report to the Electronics and IT Ministry on this issue by August 26. . While he refused to name specific companies whose phones have been compromising user data, the official said that the government will take steps to independently verify the claims made by mobile phone sellers about their security systems,and this could include independent third party audits, if need be. . Section 43A of the Information Technology Act puts the onus on corporates to secure the data in their possession, and the compensation they may be liable to pay for a breach of data or the loss caused by data theft could be unlimited.
PAGE-12: International: U.K.seeks to work together with India over North Korea crisis Britain hopes to work with India to exercise influence over China on North Korea. Country's Foreign Secretary, Boris Johnson expressed his hope that the two allies could work together to "persuade our friends in China of the truth. It's in the Chinese government's hands to exercise that economic pressure to achieve the diplomatic resolution that we need. . Mr.Johnson's remarks mark a shift away in Britain from rhetoric focussed largely on trade cooperation with India in the wake of the Brexit referendum to a more holistic discussion of the relationship . Senior figures in India have expressed their concerns about the focus on boosting trade. Last year, Commerce and Industry Minister told the BBC that India was no longer being treated as old friends" but that relationship had become a "tight professional engagement. Mr. Johnson also acknowledged factors that stood in the way of greater cooperation, including over visas, and student visas in particular
Business Page 13: India aims to widen oil import sources . Indian Oil Corporation placed India's first ever shale oil order two days ago with the U.S. The prices from the U.S. were very competitive even when compared with those from Gulf nations. Speaking after his meeting with Turkmenistan Deputy Prime Minister in New Delhi on August 14, Petroleum Minister said that, regardless of the current tensions between India and China on the border, China was showing keen interest in maintaining business relations between the two countries. . Increasing oil imports from new sources such as the U.S. was also putting pressure on OPEC countries to reduce the Asian premium' on oil prices they charge Asian countries, including India. India used to buy oil on an FOB (Free On Board) basis. Now, these small shale producers cannot give a complete supply,so we have allowed them to aggregate and ship it to us. It is their ship that will deliver to us. . Under the FOB model, the buyer takes delivery of the item as soon as it leaves the seller's shores, which means that shipping costs are borne by the buyer.The deal with U.S. companies by lOC and BPCL, for 3.5 million barrels and 1.9 million barrels respectively, has PetroChina transporting the oil on behalf of the U.S. companies China's red carpet,: Recently, several ministers have traveled to China and found that, whatever is happening on the border or on the dinlomatic front the Chinese do not want tolet business sto between the two countries.
Ministerial group to oversee disinvestment . The Cabinet empowered a ministerial group led by Finance Minister to decide on details of strategic disinvestment of public sector firms, starting from the terms of sale till inviting financial bids from prospective buyers. . The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Department of Investment and Public Asset Management (DIPAM) for setting up an Alternative Mechanism (AM) consisting of the Finance Minister, Minister for Road Transport & Highways and Minister of Administrative Department, to decide on the matters relating to terms and conditions of the sale from the stage of inviting of Express of Interests (Eols) till inviting of financial bid. . The Cabinet also approved empowering of the Core Group of Secretaries (CGD) to take policy ral issues and to decide on deviations as and whenn implementation of the decisions taken by the CCEA. The approval will help in speedy completion of strategic disinvestment transactions. The government has committed to raise 72,500 crore of disinvestment proceeds this financial year, including 46,500 crore from minority stake sales, 5,000 crore from strategic disinvestments, and 1,000 crore from the listing of insurance companies.
The Hindu-Daily Editorial Analysis for August 2017 Enroll 4.9k 16 lessons, 3h 47m unacademy Kprev n xt The order of the Securities and Exchange Board of India imposing trading restrictions on 331 companies suspected of being shell entities is an example of rash regulatory action. The Securities Appellate Tribunal has since rightly ordered the lifting of the trading restrictions imposed on two of the companies that approached it, namely J Kumar Infraprojects and Prakash Industries. In fact, the tribunal stated in its order that"it is apparent that SEBI passed the impugned order without any investigation." Interestingly, the regulatory body had acted on a list of suspect companies that the Ministry of curb invisible money (Electoral 6. 4th August 2017 Editorial-1: Restoring Parliament's Primacy Corporate Affairs had forwarded after consultation with the Serious Fraud Investigation Office and the Income Tax department. 5th August 2017 Editorial-1: Punishing the Victim (On Dowry Law) Instead of conducting an independent investigation into these suspect companies, SEBI passed the buck to the exchanges and asked them to impose immediate trading restrictions on the companies efore a proper investigation by SEBI or the exchanges, the companies were put under stage four of the Graded Surveillance Measure, whereby trading is limited to one day a month, the trading price is capped, and buyers are required to deposit money It is suspected that trading on the shares of these "shell" companies was used as a way to launder black money In fact, 169 out of the total list of 331 companies had already been suspended from trading before the order. But on the list were also companies with huge market capitalisations,and it is reasonable to assume that the predominant share of trading on any given day is legitimate. 8. 8th August 2017 Editorial-1: A gathering crisis (On groundwater depletion 9. 8th August 2017 Editorial-2: Raging Rupee (Fundamental Economics explained) 10. 9th August 2017 Editorial-1: Food for Action (on NFSA) 1:34 14:59 11 9th August 2017 Editorial-2: Rouhani's 15th August 2017 Editorial-1: A Hasty Order-On Sebi's Trade Restrictions 52 challenge 10th August 2017 Editorial-1: Working on the App based mode!... 12. 809 plays
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