Demonetization and the Goods and Services Tax (GST) have led to customary abuse of chare and counter-charge between the BJP-led government and the opposition Congress party. When there is more heat than light truth is the likely casualty. A top ranking World Bank economist recently averred that the success or failure of these measures would require more time before a just evaluation could be made. Ranen Banerjee, Partner, Public Finance & Economics, PwC India, said much the same thing: more data was necessary for final judgment (Business Line November 6).
Gujarat, Himachal polls
For both parties, however, the real issue is the Gujarat State elections, and the high octane rhetoric that is seemingly obligatory for such events. As Rahul Gandhi is a proven political lightweight, Congress fielded its heavyweight, the former prime minister and economist, Manmohan Singh. Dr Singh, well past his meridian, is less likely to make the desired impact on the Gujarat electorate. Local bookies – normally closer to the public pulse - were quoted as saying that BJP would win in Gujarat and Himachal Pradesh (Business Line November 6).
Major review of GST rates
To the great relief of industry and consumers, the GST Council announced a tax cut of 28 per cent on 178 items, with 50 remaining in that category. The Council took the decision on reduction to 18 per cent, for chocolates, washing powder, shampoos, after-shave deodorants, granite and marble and a host of other items (Business Line, Times of India November 11).
Silicon Valley’s Altman bullish
San Altman, President of Silicon Valley’s most influential startup Y Combinator is betting big on India, having inducted 18 Indian startups this year, its largest figure since its presence in India a few years ago. YC has backed a portfolio of companies worth $85 billion, and hence has the confidence to discern future trends in India. He says, ‘We have been going to India for the last few years. We’ve been fortunate enough to be an investor in a few of the companies…We continue to believe that something real happening in India… we try and take a very long-term view here [India] and not get distracted by the ups and downs.’ (Times of India November 7).
Suzuki focus on
scooters, bikes
Suzuki Motorcycles India is exiting the commuter motorcycle business to concentrate its best energies on the expanding scooter and the higher end motorcycle markets. ‘We want to hit 1 million units by the financial 2018-20, of which 800,000 units will be scooters and 200,000 motorcycles.’ said Satoshi Uchida. ‘Our current plant near Manesar has a peak capacity of 1 million units and once we cross that we will think of building another plant,’ he added (Times of India November 8).
Azhar aides killed by security forces
Masood Azhar, Pakistani-based Jaish-e-Mohammad, mastermind of the jihadi attack on the Indian Air Force base at Pathancot, lost a nephew and two aides in a shoot-out with Indian security forces in Kashmir. US-made weapons, presently under NATO, were recovered from their bodies. Pakistan’ Inter-Services directorate with Chinese support has blocked attempts to have Azhar named as a terrorist by the United Nations Security Council. Meanwhile the National Investigation Agency is keeping up its drive to unearth slush funds used to fund jihadi activities (Times of India November 8).
Terror ring busted in Punjab
A Pakistani ISI-funded terror ring, which had targeted and assassinated a number of religious leaders in the State in a bid to sow inter-faith conflict, has been busted and key members arrested, said Chief Minister Amarinder Singh in a media briefing. Four persons had been arrested, he said. Their handler was an ISI operative. Three of the arrested men were tracked down in Punjab, the fourth was a British national of Punjabi descent (Times of India November 8).
India test fires Nirbhay missile
Following failures and setbacks, India finally broke the negative cycle with the successful test-firing of a subsonic cruise, nuclear capable missile from the launch pad on India’s east coast. Nirbhay with a range of 1,000 kms (or more), is equipped to carry a nuclear warhead. A statement from the Defence Research & Development Organization, which designed and produced the missile, said: ‘The flight test achieved all mission objectives complete from lift-off till the final splashdown.’ Nirbhay is highly maneuverable and able to ‘loiter’. The BrahMos supersonic cruise missile, produced jointly with Russia, is already in service with all three branches of India’s armed forces (Times of India November 8).
DRDO railguns for Indian Navy
Scientists at India’s Defence Research & Development Organization (DRDO) have developed electromagnetic railguns (EMRG) which are undergoing trials. Capable of firing missiles at 6 mach (4,500 miles per hour), this is touted as one of the future technologies as they use kinetic and laser energy instead of controlled explosives. These weapons will give the Indian Navy a devastating force multiplier against land and sea targets and may lead to changes in the country’s military doctrine, said an expert (Russian news agency Sputnik report from Delhi, November 10).
Panama hub to aid Indian IT exports
Panama has offered to set up a Special Economic Zone for Indian IT – technology companies seeking to enter the United States and Latin American markets. The proposal was made to India’s Commerce and Industry Minister Suresh Prabhu during a meeting with Panamanian officials. The Indian government has been scouting for a platform to increase export volumes (Times of India November 9).
Telangana tops ease of business list
Telangana currently tops the ease of doing business table of Indian states. This relates to speed economic reforms in which the State scored an impressive 61.83 per cent of implementation measures set out by the Centre. Haryana is second with 54 per cent implementation, with Odisha third, Chaattisgarh fourth and West Bengal fifth, at 45.70 per cent, 45.43 per cent and 44. 35 per cent respectively (Hindu November 19).
Justice done in Nun rape case
In March 2015, West Bengal was convulsed by an armed robbery at the Jesus and Mary Convent at Ranaghat, Nadia, 20-30 miles or so from the State capital Kolkata. The robbery was accentuated by the rape of the head of the institution, a 71 year old nun, who now lives in seclusion far from the scene. The guilty men - Bangladeshis - were lured back by detectives in cooperation of local traders, then apprehended and brought to trial.
Judge’s verdict
Sessions Judge Kumkum Sinha in a comment preparatory to the sentences said: ‘Bengal is the land of Sister Nivedita and Mother Teresa. Such an act is a shame on all of us.’ Nazrul Islam was sentenced to life imprisonment for rape, with no remission; his four accomplices Mohammed Salim Sheikh, Ohidul Islam, Khodadar Rahman and Milan Kumar Sarkar received 10 year sentences for robbery, while Gopal Sarkar, convicted for sheltering the above mentioned men, was sentenced to7 years in jail. All the accused were also heavily fined.
The head of the global the Jesus and Mary order, Mother Joseph said: Today is a red-letter day because justice has been meted out.’ She thanked the police, the State government for their efforts in the case. The Papal Nuncio telephoned to the Chief Minister Mamata Banerjee and thanked her. The children in the school expressed their satisfaction at the outcome (Times of India, Telegraph November 9).
Call for revamped Indo-Russian ties
Coinciding with the 70th anniversary of diplomatic relations, two think-tanks, one Indian, the other Russian, have made a call for a revamped relationship in the context for changing ground realities across the world. The Indian document prepared by the Delhi-based Vivekenanda International Foundation (created by Ajit Doval, the government’s National Security Advisor) and Russian International Affairs Council in Moscow, called for increased ministerial and bureaucratic interaction, observing that exclusive reliance on annual Indo-Russian summits was no longer fit for purpose. Delhi desires an enlarged Russian diplomatic footprint in India’s neighbourhood, for example in Nepal, while Russia favoured greater Indian involvement with the Islamic states of Central Asia. Both sides, in a word, would need to coordinate their respective positions and responses to acts of international terrorism.
Polavaram Naidu’s Mission
Completion of the mega Polaravaram Godavari river project on was his life’s mission, declared Andhra Pradesh Chief Minister Chandrababu Naidu during a debate on the Pattiseema lift irrigation project in the State Assembly The linkage of the Godavari and Krishna Rivers had brought massive benefits to local farmers. (Business Line November 11).
Royal couple in Delhi
Prince Charles and his wife, the Duchess of Cornwall, on a two-day visit to Delhi, met with Prime Minister Narendra Modi and gave him an official invitation to next year’s Commonwealth Summit in London. The Indian government was committed to deepening ties with Britain, said the Prime Minister in a media briefing.
