Archive

February 20th, 2015

Signature NDA budget to give magic touch, fulfill dreams, surprises?

by Prof. Shivaji Sarkar

The first full-fledged 2015-16is a crucial budget to be presented by the NDA government. It would be seen as a turning point in economy and political process.It should be a signature document with many surprises.

It has many promises to fulfill, many new courses to set, create the roadmap for investment, set the process for doing ease in business, ease tax structure, create jobs, most-favoured treatment for farm sector and many more.

February 18th

PM promises steps to boost defence manufacturing sector

Says India should aim to manufacture 70% of military hardware domestically in next five years

Making a strong pitch to end India's dependence on defence imports, Prime Minister Narendra Modi today promised a conducive environment for manufacturers, including a discrimination-free tax system, and asked foreign firms not to be just "sellers" but "strategic partners".

S Gurumurthy challenges Maran

What has stopped Maran from filing defamation case against me, asks S Gurumurthy

Rubbishing allegations of former Telecom minister Dayanidhi Maran that CBI was trying to "fix" him, SJM National Co-convenor S Gurumurthy has said the agency was only acting in accordance with an undertaking it gave in the Supreme Court.

Aero India 2015 & Self-Reliance in Defence Production

Gets Underway in Bengaluru ‘Make In India’ Theme to Propel Self-Reliance in Defence Production

The 10th biennial edition of International Aerospace and Defence Exhibition – Aero India 2015 – got off to a spectacular start at Air Force Station, Yelahanka in Bengaluru today.

February 12th

Major re-shuffle in the Indian External Affairs Ministry

In a major shake up of the Ministry , after taking over as Foreign secretary, S. Jaishankar has asked the Prime Minister's Office to return the list of recommendations for key ambassadorial postings sent by his predecessor Sujatha Singh

Earlier External Minsiter Sushma Swaraj and Sujatha Singh had sent a list of at least six recommendations for ambassador posts and were finalizing proposals for a vacancy of more than 35 key positions reports The Telegraph , February 10. Reportedly Prime Minister Narendra Modi did not give his nod to a single recommendation.

Income Tax Department Focusing on Criminal Consequences in Serious Cases of Tax Evasion

During 2014-15 (upto Dec, 2014) the Income Tax Department (ITD) has conducted searches in 414 groups and seized undisclosed assets of Rs. 582 crore. Undisclosed income of Rs. 6769 crore has been admitted by the tax payers during such searches. The undisclosed income detected as a result of further enquiries is however much more.

Besides, 1174 surveys conducted upto November, 2014 led to detection of undisclosed income of Rs. 4673 crore.

Focus of investigation in the Income Tax Department (ITD) had so far been on civil consequences i.e. revenue augmentation.

February 9th

Constitution of sub-groups of Chief Ministers within NITI Aayog

PM asks all states to set up two task forces under aegis of NITI Aayog

The Prime Minister, Shri Narendra Modi, has announced that the NITI Aayog would constitute three sub groups: of Chief Ministers on the following themes:
• Sub-group to study the 66 Centrally Sponsored Schemes and recommend which to continue, which to transfer to states, and which to cut down.
• Sub-group to recommend how NITI Aayog can promote skill development and creation of skilled manpower within states.

February 5th

LCA –Tejas Passes Cold-Weather Test at Leh

HAL has made successful extreme cold weather trials in Jan 2015 on LCA- Tejas at Leh. “The aircraft made three consecutive starts using indigenous gas turbine starter at -15 °C with 85% charged battery a few days ago. Prior to the start, the aircraft was cold soaked for 18-20 hours (even 42 hours on one occasion) outside the hangar in Leh and no heating source was used for starting”, says Mr. T. Suvarna Raju, Chairman, HAL.

Budget 2015 – Will it Streamline Outbound FDI?

Showcasing India as an investment destination at the World Economic Forum in the third week of January at Davos, FinanceMinister Mr. Arun Jaitley promised India has a “lot in the pipeline” for global investors. And that implicitly meant furtherliberalising the Foreign Direct Investment [FDI] rules.

It may be recalled that in one of my earlier article titled Budget 2015 – Can it restore faith in the markets I had quoted a Report of Government of India under the chairmanship of Dr. C Rangarajan which pointed out how more than 98 percent of domestic investment is funded by domestic savings.

Don't Trade Away Our Health

by JOSEPH E. STIGLITZ

OP-ED NEW YORK TIMES JAN. 30, 2015: A secretive group met behind closed doors in New York this week. What they decided may lead to higher drug prices for you and hundreds of millions around the world.