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The Telegraph Dated May 06, 2020 Several states, including Delhi, Tamil Nadu and Haryana, have hiked the taxes on liquor and fuel as they struggle to shore up revenues choked by the coronavirus-induced lockdown, though analysts considered the measures as low-hanging fruits, easily achievable without much fuss. Price of petrol in the national capital has increased by Rs 1.67 to Rs 71.26 per litre and diesel Rs 7.10 to Rs 69.29 per litre, compared with May 4. The hike was triggered by the Delhi government’s decision to raise value-added tax (VAT) on petrol and diesel to 30 per cent each. VAT on petrol was previously 27 per cent and on diesel was much lower at 16.75 per cent. The Delhi government’s move came a day after it had slapped a 70 per cent “special corona fee” on the sale of liquor in the city. The fee has been imposed on the maximum retail price (MRP) of liquor bottles. The new rate will be applicable from May 5. Rajat Bose, partner, Shardul Amarchand Mangaldas ...

Indian Express Dated May 06, 2020 Stressing that spending is the easiest way to revive the economy, Nobel Laureate Abhijit Banerjee on Tuesday said the government should put money in the hands of the bottom 60 per centof the population post-lockdown to spur demand and trigger growth besides announcing a big stimulus package. He advocated waiving off loan repayments for small businesses in the June quarter. In a conversation with former Congress president Rahul Gandhi, Banerjee said the three-month moratorium on debt repayments announced by the RBI for the MSME sector was a wise decision and argued more should be done. “We could even say that debt payments for this quarter will be cancelled and will be taken care of by the government,” he said. But beyond that, he said, “It is not clear targeting the MSME sector is the right channel.” It is more about reviving demand, he said. Banerjee advocated cash transfers to trigger spending, but said targeting is going to be e...

Indian Express Dated May 06, 2020 A five-judge Constitution Bench of the Supreme Court (SC) on Tuesday ruled that all co-operative banks in the country could make use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi) to make recovery against defaulting persons. “We find that the SARFAESI Act qualifies the test of legislative competence, as well as the definition, cannot be said to be colourable piece or over inclusive or beyond the competence of the Parliament,” the five-judge Bench, led by Justice Arun Mishra said. In 2013, the Gujarat High Court had, while hearing a challenge to the amendment of Banking Regulation Act of 1949, to include cooperative societies as financial institutions, ruled it null and void. The high court had then agreed with the submissions of the petitioners who had argued that Sarfaesi would not be applicable to cooperative banks formed under the state law, as they were bound by the Guj...

I ndian Express Dated May 06,2020 The official handle of Aarogya Setu, the  contact-tracing app developed by the National Informatics Centre  (NIC) under the Ministry of Electronics and Information Technology, asserted late on Tuesday that “no data or security breach had been identified” in the app. The reply seemingly came in response to a tweet by Elliot Alderson, a French security researcher, earlier in the day, who claimed: “Hi @SetuAarogya, A security issue has been found in your app. The privacy of 90 million Indians is at stake. Can you contact me in private? Regards. PS: Rahul Gandhi was right.” A while later, Anderson tweeted again: “49 minutes after this tweet, @IndianCERT and @NICMeity contacted me. Issue has been disclosed to them. To be super clear: I’m waiting a fix from their side before disclosing publicly the issue. Putting the medical data of 90 million Indians is not an option. I have a very limited patience, so after a reasonable deadline, I wil...

Indian Express Dated May 06, 2020 The government Tuesday suspended all visas granted to foreign nationals, barring a few categories, till flight operations remain shut owing to the novel  coronavirus   pandemic . All existing visas granted to foreigners — except those belonging to diplomatic, official, UN international organisations, employment and project categories — shall remain suspended till prohibition on international air travel of passengers from and to India is lifted by the government, an order by the Ministry of Home Affairs read. In a separate order, the Centre also extended on ‘gratis’ basis the visas of foreigners stranded in India due the lockdown for a period of 30 days beyond opening of international travel in the country. All commercial flights, international and domestic have been suspended in the country since March 24 when the initial lockdown was announced by Prime Minister  Narendra Modi  to contain the spread of the novel coronav...

Live Mint Dated May 05, 2020 By Elizabeth Roche Prime Minister Narendra Modi on Monday said the novel coronavirus outbreak has exposed the limitations of the current global order and, after the pandemic, the world will need a new template of globalisation based on fairness and equality. In a speech to the Non-Aligned Movement’s virtual meet on the covid-19 crisis, Modi called for international institutions that are more representative of the world today. He also highlighted the need to “promote human welfare and not focus on economic growth alone." Without naming Pakistan, Modi also slammed the country whose president Arif Alvi had earlier on Monday used the NAM platform to accuse India of inciting hate speeches against India’s Muslims and denying them treatment amid the pandemic. He called to NAM countries to stand together to ensure that the international community and the World Health Organization focus on building health capacities in developing countries. ...

Hindustan Times Dated May 05, 2020 The US Commission on International Religious Freedom (USCIRF) has said that religious freedom is severely restricted in Pakistan and slammed the country for doing nothing about it. “In Pakistan, the systematic enforcement of blasphemy and anti-Ahmadiyya laws, and failure to address forced conversions of religious minorities - including Hindus, Christians, and Sikhs - to Islam, severely restricted religious freedom,” the international organisation said in its annual report. The USCIRF has recommended that the US government should redesignate Pakistan as a country of particular concern. “While there were high-profile acquittals, the blasphemy law remained in effect,” the body said, referring to the case of Asia Bibi, who spent years on death row after being accused of blasphemy. She was acquitted last year. “USCIRF is aware of nearly 80 individuals who remained imprisoned for blasphemy, with at least half facing a life sentence or death,...

NPR Dated May 04, 2020 Jackie Northam A flotilla of Saudi tankers loaded with crude oil has begun arriving on the U.S. Gulf Coast, worrying American shale producers who face uncertainty because of an oversupply of oil. At least 18 very large crude carriers, each carrying 2 million barrels of oil, are headed to the U.S., according to  Michelle Wiese Bockmann , markets editor and oil analyst for Lloyd's List, a shipping news service in London. The first tanker, the Dalian, arrived last Friday and is floating off the coast of Houston and has yet to discharge any of its cargo, according to Lloyd's shipping tracking. The last one is due to arrive at the end of May. All the ships were loaded in eastern Saudi Arabia in late March and early April, Wiese Bockmann says. The surge in Saudi oil shipments comes amid an oil glut and an estimated 30% drop in global demand because of the coronavirus pandemic. It also  adds to  tanker congestion  at U.S. ports , as ...

Business Line  Dated May 01, 2020 By C L Dadhich/ Vijaya Venkatesh In our fight against Covid-19, lockdown 1.0 lasted 21 days. Lockdown 2.0, which is now nearing the end, is for 19 days. We are already gearing for lockdown 3.0, and one doesn’t know how long will falling agricultural incomes and the forced stoppage of most of our economic activity last. India has so far been successful in keeping the number of lives lost due to Covid-19 low, but our economy in terms of production, unemployment, income, etc., has suffered a setback, besides the huge outgo on medical infrastructure. While Covid has not entered into rural India in a big way, the fallout has taken its toll in terms of loss of income flow in general and agricultural income in particular. As the authorities and leaders gather to consider the next steps, we cannot forget that the costs have, in the immediate, been borne by the weakest sections of our society. A large number of migrant workers are from rur...