GujaratSchoolBag-kDJC--621x414LiveMintAkhilesh Yadav may have lost power in Uttar Pradesh, but he can claim that he is ruling the roost in BJP-ruled Gujarat’s Chhota Udepur.

For some 12,000 school bags distributed in government run primary schools in this tribal-dominated district bear the picture of the Samajwadi Party leader.

The state education department has ordered an inquiry into how these bags ended up in Gujarat.

The school bags came with stickers of school enrolment drive of Gujarat government. However, beneath these stickers is a picture of a smiling Akhilesh Yadav.

The bags were distributed to students under the state government’s Shala Praveshotsav programme, an annual drive to enrol students in class 1.

That they have Akhilesh’s picture was first discovered by teachers at a school in Vasedi village when the stickers reading Jilla Panchayat Shala Praveshotsav came off.

District panchayat had procured 12,000 of these bags through an e-tender from a Surat-based company, said the district primary education officer Mahesh Prajapati.

Minister of state for education Bhupendrasinh Chudasama said an inquiry will be conducted and “action will be taken” against those responsible for this goof-up.

The bags were apparently manufactured for distribution in Uttar Pradesh when the Samajwadi Party was in power. Opposition Congress took this opportunity to take a swipe at the BJP government.

“Instead of providing teachers, the government is distributing recycled bags of a former UP government by carrying out this drama of Shala Praveshotsav. It shows how serious the government is towards education,” Gujarat Congress spokesman Manish Doshi said.

News Source: LiveMint News

Published in Politics

bse-kxlEconomic growth in India has been hobbled by what has been termed the twin balance sheet problem excessive corporate debt, mirrored in the mounting bad loans of banks. Companies are reluctant to take on more debt as a result, while banks are wary of lending. Do the corporate financial results for the March quarter show any improvement in corporate balance sheets, any signs of breaking away from this logjam?

One important yardstick to find out whether the corporate debt problem is getting better is to look at the interest cover. Interest cover measures the extent to which a firm’s earnings are sufficient to pay interest charges. It is the earnings before interest and tax divided by interest charges. The higher the cover, the more comfortable can the firm pay its interest expenses. The Centre for Monitoring Indian Economy (CMIE) database shows a distinct improvement in the interest cover of the manufacturing sector, excluding petroleum products. Interest cover moved up from 2.6 times for the December 2016 quarter to 3.2 for the March 2017 quarter. It’s easy to figure out why banks lowered their interest rates substantially during the last quarter and this has been reflected in the financial results of BSE companies. One big reason for banks’ lowering interest rates, of course, is the huge influx of deposits as a result of demonetization, which led them to lower deposit rates as well as loan rates.

New source: livemintnews

Published in Health

s3.reutersmedia.netIndia's Prime Minister Narendra Modi will hold talks with U.S. President Donald Trump in Washington on June 26, the Indian foreign ministry and the White House said on Monday, the first meeting between the leaders.

Ties between the two big democracies grew rapidly under the administration of former President Barack Obama which saw India as a partner to balance China's growing weight in Asia.

But Trump has focused on building ties with China, seeing it as key to tackling regional problems such as North Korea's nuclear programme.

The Indian ministry said Modi's talks with Trump would lay the ground for a further expansion in ties, allaying some of the anxiety that had crept in about a drift in relations.

"Their discussions will provide a new direction for deeper bilateral engagement on issues of mutual interest and consolidation of multidimensional strategic partnership between India and the U.S.," the ministry said in a statement.

In Washington, White House spokesman Sean Spicer said the two leaders will discuss topics including economic growth, the fight against terrorism, expanding defense cooperation and growing U.S.-India trade.

"You can expect the two of them to set forth a vision that will expand the U.S.-India partnership in an ambitious and worthy way," Spicer said.

The United States has emerged as a top arms supplier to India and the two sides will be looking to move forward with deals such as unarmed drones that India wants for its navy, sources said.

One issue that the two leaders face is resolving conflict arising out of the push they are both making at home to boost industry and create jobs.

Modi has been driving a make-in-India campaign to press foreign arms suppliers to set up factories in India and transfer technology instead of selling off-the-shelf, which has made India one of the world's biggest arms importers without any domestic production base.

Trump, on the other hand, has railed against firms moving factories outside the United States and has demanded U.S. companies invest at home as part of his "America First" campaign.

Trump's review of a visa programme under which thousands of skilled Indian workers go to the United States is also a top concern for India.

News Source: Reuters News

 

Published in Politics

supreme-court 650x400 41487589850The Supreme Court today asked the CBSE to declare the results of the NEET examination for admission to MBBS and BDS courses by putting a stay on the Madras High Court order restraining publication of results. The apex court order comes as a relief for 12 lakh medical aspirants who had given the exam. The apex court directed the authorities concerned to proceed with the process of declaration of results, subsequent counselling and admission as per the schedule fixed by it earlier. However, a vacation bench of Justices P C Pant and Deepak Gupta said the declaration of results as well as the subsequent counselling and admission will be subject to the decision of the apex court in the matter pending before it.

The bench also requested all the high courts not to entertain petitions in the matters relating to the National Eligibility-cum-Entrance Test (NEET) examination 2017.

The order came on the plea by the Central Board of Secondary Education (CBSE) and others challenging the May 24 order of the Madras High Court which had restrained the Board from publishing the results of NEET examination 2017 in which around 12 lakh aspirants had appeared.

Additional Solicitor General (ASG) Maninder Singh, appearing for the CBSE, told the bench that due to high court's order the process of declaration of results and subsequent admission have stalled and the order was in conflict with the schedule fixed by the apex court earlier.

The bench also observed that the high court's order was "indirectly diluting the schedule" fixed by the apex court.

"On one ground we are inclined to stay the high court's order. What indirectly this order is doing is that it is diluting the schedule fixed by the Supreme Court",the bench said while staying the high court's order.

"In view of the above, the interim order is stayed and it is directed that the authorities concerned will proceed further with declaration of results for the NEET 2017 examination subject to decision of this court," the bench said while listing the matter for further proceedings after summer vacation.

The CBSE had on June 9 moved the Supreme Court seeking an immediate stay on the Madras High Court order.

The high court had on May 24 granted interim stay on the publication of NEET results on a batch of pleas alleging that a uniform question paper was not given in the examination and there was a vast difference between the ones in English and in Tamil.

The CBSE had said that due to the high court's order, the entire schedule of counselling and subsequent admission for medical courses through NEET has gone "haywire". ASG Singh had earlier told the apex court that out of 12 lakh aspirants who appeared in the NEET 2017, around 10.5 lakh students have given the exam in either Hindi or English while around 1.25 lakh to 1.50 lakh students have appeared in eight vernacular languages. He had said that a number of pleas have been filed in various high courts in NEET-related matters and high courts have entertained these petitions despite the apex court's order that no other court shall hear such matters.

He had also sought transfer of petitions from various high courts to the apex court which concerns the NEET for the academic year 2017-18. Singh had said that challenge to different sets of questions in vernacular languages were on wrong assumptions that they were difficult as the experts had examined that they were different from those in English or Hindi medium but the level of difficulty cannot be said to be different.

He had said that questions were different to keep the larger interest protected on the ground that if there was a leakage of a set of paper in a vernacular language, the majority of students would be protected as candidates appearing in any particular language were less than those opting for English or Hindi.

The Madras high court had also directed the Medical Council of India, the director of CBSE and the Union Health Ministry to file counter affidavits on these pleas pending before it.

The petitioners before the high court demanded that the NEET 2017 be cancelled and a fresh exam with a uniform question paper be conducted. They have claimed that different sets of question paper had been used at various places, though a common syllabus had been announced.

In Tamil Nadu, the question papers were different for those who opted English and Tamil and the one in Tamil was easier, they have claimed.

News Source: NDTV News

Published in Politics

gold2 In what could be a huge relief for jewellery and diamond processing industry before India's biggest tax reform kicks in from July 1, the Goods and Service Tax (GST) Council reduced the applicable rate on making charges from 18 per cent to just 5 per cent.

"The GST Council has received 133 representations. An officers' committee made recommendations after studying these representations. The GST Council has reduced the tax levels in 66 out these 133 cases. The diamond processing and others would attract a levy of five per cent now," Union Finance Minister Arun Jaitley said while addressing a press conference after 16th GST meeting.

Earlier, All India Gem and Jewellery Federation, the India Bullion and Jewellers Association (IBJA), and other trade representatives had pressed for lower taxes on jewellery making charges.

Currently, a tax is exempted on jewellery making charges. Early this month, the GST Council meeting had fixed GST on precious metals and diamonds, including jewellery, at 3 per cent. However, tax on making charges of jewellery was kept at 18 per cent.

Tax on making charges would have in turn raised tax for consumers to over 4 per cent, almost double of what was being currently charged in the form of 1 per cent each on VAT and excise on jewellery.

Among the items on which the GST rates have been reduced by the GST Council include cashew nut, sauces, pickles, insulin, children's coloring and drawing books, cutlery.

GST rates were also revised for computer printers, tractor components. Cinema tickets under Rs 100 would be taxed at 18 percent, while above Rs 100 would be charged at Rs 28 percent.

New source: businesstoday news

Published in Economics

telangana1Telangana's GSDP  grew at 10.1 per cent (at constant prices) during the last financial year to Rs 5.11 lakh crore as against 9.5 per cent in FY16, state Industries and Commerce Minister K. T. Rama Rao said today.

"Telangana has achieved a 10.1 per cent y-o-y growth in Gross State Domestic Product (GSDP), compared to a national average of 7.1 per cent y-o-y growth in 2016-17 and the share of Telangana 's economy in national

GDP  has increased seven basis points in 2016-17," KTR said after releasing the annual report of the industries and commerce department.  

"TS-iPass (Telangana state industrial policy), launched in June 2015, under the guidance of our chief minister, has generated Rs 73,000 crore in investments, and created 2.46 lakh jobs in the process," he said.  

The share of Telangana's contribution to the national GDP was at 4.28 per cent against 4.21 per cent during 2015-16.  

The minister also launched the logo and website for Telangana Industrial Health Clinic Ltd (TIHCL), an industries' initiative for revival and growth of sick manufacturing MSMEs.

The initiative will be supported by the state government, high net-worth individuals, financial institutions and industry stakeholders.    

According to KTR, the proposed pharma city's phase - 1 is being developed across 8,200 acres even as 6,300 acres land is already under the possession of Telangana State Industrial Infrastructure Corporation Ltd (TSIIC) and acquisition of the remaining land is expected to be completed shortly.  

The state government is planning to create Life Sciences Infrastructure Fund with an initial corpus of Rs 1,000 crore which will be used to set up sophisticated modular plug-and-play specialized infrastructure for pharmaceuticals, biotechnology, and medical devices industry. 

New source: economic times

Published in Economics

arun-jaitleyReserve Bank of India (RBI) is at an advanced stage of preparing a list of bad loans where resolution is required under the country's insolvency and bankruptcy rules, Finance Minister Arun Jaitley said on Monday.

Last month, India tweaked its laws to help tackle a record $150 billion in troubled bank debt. The government has authorised the RBI to direct banks to initiate an insolvency resolution process in the case of a default under provisions of the bankruptcy code. "The RBI is at a fairly advanced stage of preparing a list of those debtors where a resolution is required through the IBC (Insolvency and Bankruptcy Code) process and you'll shortly be hearing about it," Jaitley told reporters after meeting bank chief executives.

New source: TOI news

Published in Business

indigo-airlinesBudget airlines IndiGo has announced a three - day 'All Time Low' offer across its 39 domestic destinations with ticket prices starting as low as Rs 899.

The 'All Time Low' sale is on until June 14 and is applicable between July 1 and September 30, 2017.

IndiGo said that the offer is valid only for one-way routes in select cities across the country.

"This offer is valid only on non - stop flights from Agartala, Ahmedabad, Amritsar, Bagdogra, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Dehradun, Delhi, Dibrugarh, Goa, Guwahati, Hyderabad, Imphal, Indore, Jaipur, Jammu, Kochi, Kolkata, Kozhikode, Lucknow, Madurai, Mangalore, Mumbai, Nagpur, Patna, Port Blair, Pune, Raipur, Ranchi, Srinagar, Thiruvananthapuram, Udaipur, Vadodara, Varanasi and Visakhapatnam," IndiGo said on its website.

IndiGo also said that all flight tickets are available on first - come - first serve basis and are non - refundable.

IndiGo chief commercial officer Sanjay Kumar said, "After receiving a positive response on the summer special sale, we are delighted to announce another three - day monsoon special offer. We are anticipating an increase in demand beyond summer vacations and are pleased to introduce special fares," reported the Times of India.

New source: business today news

Published in Business
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