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The Indian Express  August 29, 2018 India could be the country worst hit by the falling crop quality the world over due to rising carbon dioxide levels, according to a study led by the Harvard T H Chan School of Public Health. The study estimates that 50 million more people in India — the largest number anywhere in the world — could face zinc, iron and protein deficiency due to dipping crop quality. “The combined geographic impact across the three nutrients is concentrated in some of the poorest regions globally: India, other parts of South Asia, Sub-Saharan Africa, North Africa and the Middle East, and Southeast Asia. India alone is the largest contributor to all 3 nutritional vulnerabilities: 50 million additional people to the newly zinc-deficient population, 38 million newly protein deficient, and 502 million women of childbearing age and children under 5 who are vulnerable to disease resulting from increasing iron deficiency,” says the study, published in ‘Natu...

The Hindu August 28, 2018 By making changes to the law, the tax department and ED can now hold confiscated currency notes beyond the earlier specified limits The Centre has come to the rescue of law enforcement agencies like tax department and Enforcement Directorate, which are faced with a situation of holding confiscated currency notes beyond specified limits, by making changes in the law. A notification in this regard has been issued by the Ministry of Finance allowing agencies such as Central Board of Direct Taxes, Central Board of Indirect Taxes and Enforcement Directorate to hold banned currency notes. Under the Specified Bank Notes (Cessation of Liabilities) Act, 2017, banned currency notes beyond a certain limit could be held only by the Reserve Bank, its agencies, or other person authorised by it, and in pursuance of court order. An individual is not allowed to hold more than 10 banned notes. Besides, not more than 25 such notes could be kept for study, r...

The Statesman  August 29, 2018 Recent press reports have stated that the Congress has created multiple committees to raise the issue of the Rafale deal at different levels across the nation. It has formed a specific committee to regularly project the Rafale deal in Parliament. In its view, this is the scam of the present NDA government which can cause a situation similar to the one created for the Congress after the Bofors deal. In recent times and in various discussions in the media, Congress members have been caught on the wrong foot. They have proved that while they remain unaware of all the facts, they perhaps sense the deal is fine. However, they have desperately adopted this approach seeking to embarrass the government because of its binding on the non-disclosure clause, which is a part of the deal. Apart from the fact that the Congress has begun twisting facts and figures on the Rafale deal, it is also ignoring that it did nothing for defence preparedness dur...

DailyHunt August 29, 2018 The rupee has depreciated by around 9% from the beginning of this calendar year and is currently trading at 70.18 per dollar. Since around 45% of the Nifty's earnings per share (EPS) is linked to the global economy through exports, a falling rupee has been a tailwind for the key benchmark index in the past. Typically, a 10% fall in rupee vs dollar should boost Nifty EPS by 4% and vice versa, other things remaining the same, according to an analysis by domestic brokerage firm Edelweiss Securities Ltd. Companies in the information technology (IT) and pharmaceuticals are, of course, poised to benefit. However, the full gains of the rupee's depreciation may not accrue to them this time. A depreciating euro against the dollar and headwinds in emerging market currencies could potentially negate some of the forex gains for IT and pharma companies, respectively, said the Edelweiss note. Nonetheless, a strengthening rupee could provide a glimmer...

The Times of India  August 29, 2018 The pink bollworm crisis in cotton has taken a new turn year with two criminal cases registered in Jalna and Amravati districts against four seed companies including multinational, Bayer Crop Sciences. The farmers on whose complaint the offences have been registered were backed by activists of Swabhimani Shetkari Sanghantana (SSS) headed by MP Raju Shetti.  Other companies booked for allegedly cheating the farmers by selling genetically modified Bt cotton seeds claimed to be resistant to bollworm are — Nagpur’s Ankur Seeds, Tamil Nadu’s Rasi Seeds and Andhra Pradesh’s Nuziveedu Seeds. Farmers  claim the seeds are bogus and do not protect against bollworm. The state’s agriculture department last year had received over 13 lakh similar complaints against seed companies from farmers. Hearing has been done in 9 lakh cases and orders issued for paying a cumulative amount of Rs93 crore as compensation.  Sanjay Sable, a...

The Tribune August 29, 2018 Leading women activists have written to Prime Minister Narendra Modi, urging him to take immediate action to ban "illegal GMO imports" in India while warning about the "serious threat" the genetically engineered crops pose to India's legal framework, farmers' livelihoods, public health and democracy. "Illegal GMO imports and planting of Roundup Resistance (genetically engineered) Bt Cotton is posing a serious threat to our legal framework, our farmers livelihoods, public health and democracy," said Vandana Shiva, Executive Director, Navdanya and Dr Mohini Giri, Chairperson, Guild of Service in their letter to the Prime Minister. While raising the issues-"illegal imports of GMOs, illegal planting of Roundup Ready Bt Cotton and unnecessary imports of Roundup-laced pulses and oil seeds"-they also drew the attention of the Prime Minister towards a recent case in the US, where the jury ruled that Monsa...

DailyHunt August 29, 2018 On July 3, 2018, India became yet again the only country in the world to contribute money to the United Nation's Trust Fund for International Cooperation in Tax Matters. Despite its massive domestic challenges of tackling poverty and environmental sustainability, India has so far contributed $200,000 to the 'Trust Fund' ($100,000 last year and this year). Why has it done so? Primarily because India sees the reform of international tax governance as being in the interest of developing countries. As stated by Syed Akbaruddin, permanent representative of India to the UN: 'The global governance architecture for cooperation in taxation has not kept pace with the pace of globalisation. International tax matters remain bastions of Westphalian sovereignty As for multilateralism, while it is seen as faltering on many fronts, it has been and remains conspicuously absent in matters of international tax cooperation. Those who have champ...

The Hindu August 28, 2018 Rohingya leaders in Bangladesh on Tuesday challenged the UN to ensure that Myanmar’s generals stand trial after investigators called for top military commanders to be prosecuted for genocide against the minority. A UN fact-finding mission into violations in Myanmar said the country’s Army chief and five other senior brass should be investigated over a brutal crackdown last year that drove 7,00,000 Rohingya Muslims into Bangladesh. Community leaders for the Rohingya in Bangladesh welcomed calls for prosecution, but said they would judge the UN on its ability to deliver justice. Call for ICC trial “The commanders must face an ICC trial,” said Rohingya leader Abdul Gowffer, referring to the International Criminal Court in The Hague. The investigators have called on the UN Security Council to refer the case to the ICC or for the creation of an ad hoc tribunal. Dil Mohammad, another Rohingya leader, urged the UN to take further steps to ens...

Live Mint  August 28, 2018 US stock indexes rose on Tuesday, with the benchmark S&P 500 and the Nasdaq indexes hitting fresh all-time highs, as a trade agreement between the United States and Mexico calmed fears of a global trade war. While the trade-sensitive industrial sector rose 0.24%, the gains were led by commodity-related stocks, with metal and energy companies gaining as prices of Brent crude and metals rose. The United States and Mexico agreed to overhaul the North American Free Trade Agreement, putting pressure on Canada to remain part of the three-nation pact. Canadian Foreign Minister Chrystia Freeland is expected to travel to Washington for talks on Tuesday and US Treasury Secretary Steve Mnuchin told CNBC that he believed a deal could be reached this week. Also helping sentiment was news from the White House that US President Donald Trump and German Chancellor Angela Merkel “strongly supported ongoing discussions” on trade. “The markets...

Financial Express August 28, 2018 The Centre will likely sell a 5% stake in the country’s largest oil explorer ONGC in what could be one of its largest disinvestment exercises in the current fiscal. At current prices (the ONGC stock closed Rs 176.20 on Monday), the stake sale may fetch the exchequer Rs 11,300 crore. The department of investment and public asset management (DIPAM) held roadshows in the US last week to reach out to potential investors for the proposed offer for sale (OFS) of the government’s stake in ONGC. The exact quantum of equity to be offloaded is, however, yet to be decided, a source said, adding that it could be 3-5%. While the government achieved the largest ever disinvestment revenue of Rs 1 lakh crore last fiscal, receipts have been subdued this fiscal — only Rs 9,220 crore has been collected so far, half the amount garnered by the same time frame last year. The target for this year is Rs 80,000 crore. This year, the disinvestment strategy i...