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August 23, 2017 PTI-Indian Express Tillerson's remarks came after President Donald Trump unveiled the US strategy in Afghanistan which included expanded authorities to target terrorists. India is emerging as a very important regional strategic partner for the US that can help modernise Afghanistan both politically and economically, Secretary of State Rex Tillerson said today. Tillerson’s remarks came after President Donald Trump unveiled the US strategy in Afghanistan which included expanded authorities to target terrorists. “India is emerging as a very important regional strategic partner with the United States, and has played an important role supporting the Afghan government and in particular supporting their economy,” Tillerson told reporters. He also praised India’s role in Afghanistan. “India has provided development assistance. They’ve provided economic assistance. They are hosting an important economic conference in India this next week. All of that is import...

August 23, 2017 Kavya Chandrasekaran-The Economic Times NEW DELHI: The Centre has asked wind energy-producing states to ensure regulatory approval of power purchase agreements (PPAs) signed when tariffs and equipment costs were higher, and use special powers under the Electricity Act to issue directions to autonomous regulators in public interest, if necessary. Wind energy tariffs set by regulators varied between Rs 4 and Rs 6 per khH but tumbled toRs 3.46 per kwH after the sole wind energy auction in February. This prompted many states to seek lower tariffs from old projects, while several State Electricity Regulatory Commissions (SERCs) held back approval of PPAs already signed, raising serious concerns among wind energy developers and lenders.  The Ministry of New and Renewable Energy (MNRE) has written to seven states for invoking Section 108 of the Electricity Act, 2003.  It has come to the notice of the MNRE that some SERCs are not according consent f...

August 22, 2017 PTI-The Times of India MUMBAI: Even though as a whole states' revenue may clip past at a CAGR of 16.6 per cent in FY18 over FY16 under the GST, 11 of them may need an additional Rs 9,500 crore compensation from the Centre this year, says a report.  All states combined will grow at a CAGR of 16.6 per cent in FY18 over FY16 under the new goods and services tax regime, but since the picture at the individual state level differs, 11 states will need a Rs 9,500 crore Central support this financial year," India Ratings said in a note today.  While large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre for any revenue loss under baseline scenario worth Rs 5,600 crore in FY18 smaller states like Goa, Jammu & Kashmir and Jharkhand would need Rs 3,900 crore compensation, the agency said.  This is needed as it expects the GST component of the states' own tax revenue...

A ugust 23, 2017 Arun S-The Hindu Australian official rejects reports of delay, and says move won’t slow down coal exports Discussions are at a ‘well-advanced’ stage for Australia’s uranium sale to India, to fuel nuclear power plants in the energy-starved developing nation, according to an Australian government body’s top official. Dismissing allegations that uranium supply was facing ‘delays’ due to the Australian coal mining sector ‘lobbying’ to protect its interests, the official, however, said coal exports will not slow down any time soon from Australia for use in India’s thermal power stations. Leonie Muldoon, Minister Commercial and Senior Trade and Investment Commissioner, South Asia, Australian Trade and Investment Commission (or ‘Austrade’) told The Hindu that the process of uranium sale was progressing as anticipated by the two sides and without delays. She said: “In mid-July, we sent a sample [of uranium] for testing purposes, as was anticipated [at the ...

June 07, 2017 Sarah Macfarlan-Marketwatch Russia's sale of one-fifth of its state-owned oil company to Qatar and commodities giant Glencore PLC last year had an unusual provision: Moscow and Doha agreed Russia would buy a stake back, people familiar with the matter said. Russian President Vladimir Putin hailed the EUR10.2 billion ($11.5 billion) sale of the PAO Rosneft stake in December as a sign of investor confidence in his country. But the people with knowledge of the deal say it functioned as an emergency loan to help Moscow through a budget squeeze. Moscow agreed with Qatar that Russia would buy back at least a portion of the stake from the rich Persian Gulf emirate, the people said. The Qatar Investment Authority and Glencore, the Swiss-based commodities giant, formed a partnership to buy the 19.5% stake in Russia's energy jewel at a time when Mr. Putin's government needed cash. The people with knowledge of the deal say the buyback arrangement was ...

A ugust 23, 2017 Shaurya Karanbir Gurung-The Economic Times NEW DELHI: The Indian Navy has requested defence companies for information on technologies and capabilities they have for manufacturing 123 Naval Multi Role Helicopters (NMRH) and 111 Naval Utility Helicopters (NUH) under a strategic partnership model.  The Navy’s fresh start to develop and manufacture helicopters for anti-submarine warfare and other primary operations, under the Make in India initiative, comes at a time when it faces a depleting fleet of choppers. Interested firms have time until October 6 to respond.  Under the strategic partnership model of the Defence Procurement Procedure, 2016, the two types of helicopters will be manufactured by an Indian private entity that will tie up with a foreign original equipment manufacturer. The manufacture of these helicopters will be the second such project under the model. The construction of Project 75 (I) submarines was the first project. The tradi...

August 22, 2017 Rakhi Bagga-The Indian Express Meanwhile, Ram Singh, member of the political arm of the Dera Sacha Sauda, told The Indian Express, “We have got no instructions from the Dera and hence we are organising our regular satsangs at Nam Charcha ghars across the state." DAYS AHEAD of the verdict in a rape case against Dera Sacha Sauda chief Gurmeet Ram Rahim Singh, deputy commissioners and SSPs held meetings with representatives of the Dera and officials of various departments across the state on Monday. Representatives from BSF, Armed Battalion, Rapid Action Force, Punjab Commandos and CRPF also took part in the meetings. Besides, a flag march is also being conducted in all the districts. Security has already been stepped up near Naam Charcha Ghar of the Dera across the state and the district administrations, SSPs have appealed to the people on Monday to maintain peace and not to fall prey to rumours. Malwa Punjab has a large base of Dera followers and there ...

August 22, 2017 Virendrasingh Ghunawat-India Today A parallel probe has begun by the I-T department in coordination with all central agencies, both in Maharashtra and Delhi, to trace the roots of this case. Vikas Rasal could be the tip of an iceberg and small victim in a big illegal syndicate working between the states and the Centre to promote a non-revenue cadre officer to an IAS officer. The Income Tax (I-T) department has begun an investigation to get into the roots of this scam and expose it completely. In July, the air intelligence unit (AIU) of Customs Department and I-T officials apprehended Rasal, the Chief Executive Officer (CEO) of the Mumbai Metropolitan Region Iron and Steel Market Committee, at the airport. He was intercepted with nearly Rs 50-65 lakh undisclosed cash in his backpack while arriving from Delhi to Mumbai. The investigation has revealed that Rasal possess disproportionate assets (DA) in crores, including few benami investments. Of late, the A...

August 23, 2017 FE Bureau-Financial Express This is Rs 75.48 more than the per share price of `262.8 at which the minority shareholders had tendered their shares during delisting. Essar Oil’s former minority shareholders who tendered their shares during delisting will receive Rs 880 crore as an additional payout. The promoters will shortly issue a public notice in this regard and as committed to the delisting offer of December 2015, the additional payout will be made within two months thereafter, the release said. Rosneft and the Trafigura-UCP consortium had announced the closure of the deal to acquire the 98.26% stake in Essar Oil, for Rs 338.28 per share on Monday. This is Rs 75.48 more than the per share price of Rs 262.8 at which the minority shareholders had tendered their shares, the company said in a press release. Russia’s Rosneft and a Trafigura-United Capital Partners consortium acquired India’s Essar Oil for $12.9 billion. The Securities and Exchange Board of Indi...

AUGUST 23, 2017  The hindu netdesk Ashwani Lohani, CMD of Air India, has been named the Chairman of the Railway Board following the resignation of A.K. Mital. The move comes after former Railway Board Chairman A.K. Mital tendered his resignation on Tuesday evening. Sources said he resigned owing moral responsibility of the Puri-Haridwar Utkal Express derailment in Uttar Pradesh on Saturday evening due to several lapses in the track maintenance work. According to sources, Mr. Mital, a Principal Secretary-level officer, had sent his resignation to Railway Minister Suresh Prabhu on Tuesday. His resignation came two days after the Railway Ministry decided to send Railway Board Member Engineering and Secretary-level officer Aditya Kumar Mittal on leave holding him responsible for the Utkal Express train accident at Khatauli railway station near Muzaffarnagar that had killed at least 21 passengers and injured over 80 people. Mr. Lohani, an Indian Railway Service of Mecha...

August 23, 2017,  PTI A new policy for cadre allocation has been finalised by the Central government for IAS, IPS and other officers, aimed at ensuring "national integration" in the country's top bureaucracy. Officers of all-India services -- the Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFoS) -- will have to choose cadres from a set of zones instead of states. The officers of the three services are currently allocated a cadre state or a set of states to work in. They may be posted on central deputation during the course of their service after fulfilling certain eligibility conditions. The existing 26 cadres have been divided into five zones in the new policy proposed by the personnel ministry. Zone-I has seven cadres -- AGMUT (also known as Arunachal Pradesh-Goa-Mizoram and Union Territories), Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Punjab, Rajasthan and Haryana. Zone-II consists of Utta...

AUGUST 24, 2017 Jay Shankar-The hindu Deal involves providing and maintaining communication equipment, network over a 13-year period State-owned ITI is hoping to secure a ₹7,000-crore contract from the Indian army for providing and maintaining its strategic communication network over a 13-year period, according to a top official. “It is a 13-year-long project in which we will provide the equipment and warranty for five years and maintain it (the network) for eight years,” said S. Gopu, ITI chairman and managing director. In an interview, Mr. Gopu said “We did phase one, two and three of ASCON. We are technically qualified. Other companies including BEL and RailTel are in the fray.” Order pipeline The struggling PSU, which currently has an order pipeline of ₹1,600 crore, is targeting ₹10,000 crore worth of deals within the next two years, including the ASCON project. Army Static Switched Communication Network (ASCON ) is the army’s telecom network backbon...

AUGUST 24, 2017  Krishna das rAJGOPAL-tHE HINDU A nine-judge Constitution Bench of the Supreme Court on August 24 ruled that right to privacy is “intrinsic to life and liberty” and is inherently protected under the various fundamental freedoms enshrined under Part III of the Indian Constitution. Reading out the common conclusion arrived at by the nine-judge Bench, Chief Justice of India J.S. Khehar said the court had overruled its own eight-judge Bench and six-judge Bench judgments of M.P. Sharma and Kharak Singh cases delivered in 1954 and 1961, respectively, that privacy is not protected under the Constitution. The Union government had argued that privacy is a common law right. Read: Supreme Court verdict on Right to Privacy The nine-judge Bench comprised, besides Chief Justice Khehar, Justices J. Chelameswar, S.A. Bobde, R.K. Agrawal, Rohinton F. Nariman, Abhay Manohar Sapre, D.Y. Chandrachud and Sanjay Kishan Kaul.  The Bench was formed as the 1...