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Money Control Dated 10.09.2020 By Prime Minister Narendra Modi on Thursday launched Rs 20,050 crore-Pradhan Mantri Matsya Sampada Yojana (PMMSY) to boost production and exports in the fisheries sector as part of the government''s aim to double farmers'' income. Through video conference, the Prime Minister also launched several other initiatives in the fisheries and animal husbandry sectors in Bihar, a state which is heading for the assembly polls in October-November. Modi launched a mobile app e-Gopala that will provide solutions to farmers on livestock related issues and inaugurated Semen Station with state-of-the-art facilities in Purnea with an investment of Rs 84.27 crore on 75 acres of land made available by the Bihar government. After the launch, the Prime Minister interacted with farmers focusing on the livestock and fisheries sector. The PMMSY is a flagship scheme for focused and sustainable development of fisheries sector in the country with an estimated invest

The Print Dated 10.09.2020 By Bhadra Sinha  New Delhi: The Supreme Court Thursday extended its 3 September order on loan moratorium, saying accounts that have not been declared non-performing assets (NPAs) as on 31 August cannot be declared as such until further notice. The interim order will continue until the next hearing on 28 September. A bench led by Justice Ashok Bhushan also gave over two more weeks to the Narendra Modi government to decide on waiver of interest for the moratorium period, observing it was keen to do so as the court saw it as a penal interest. The bench was hearing a batch of petitions seeking waiver of interest on deferred EMIs during the moratorium period, which was introduced by the Reserve Bank of India (RBI) in March to ease the burden on existing borrowers due to Covid-19-related restrictions. Solicitor General Tushar Mehta informed the court that the government has formed an expert committee at the highest level to take a decision on the issue of moratoriu

Mint Dated 10.09.2020 By   The ceremony was attended by Defence Minister Rajnath Singh, his French counterpart Florence Parly, Chief of Defence Staff General Bipin Rawat, Air Chief Marshal RKS Bhadauria and Defence Secretary Ajay Kumar. The five Rafale aircraft which arrived on July 27 at Ambala Air Force Station have been formally inducted to the Indian Air Force’s 17 Squadron ‘Golden Arrows’ on Thursday at Air Force Station in Ambala. The ceremony was be attended by Defence Minister Rajnath Singh, his French counterpart Florence Parly, Chief of Defence Staff General Bipin Rawat, Air Chief Marshal RKS Bhadauria and Defence Secretary Ajay Kumar. Rafale induction ceremony highlights: France is committed to support India for permanent membership in UN Security Council: French minister. We will ensure timely delivery of remaining 31 Rafales. Our partnership will be even more crucial in the post-COVID world: Florence Parly, French Minister of the Armed Forces. Trust me, I know the Rafale i

The Indian Express Dated 09.09.2020 By Subhajit Roy Jaishankar, who was on his way to Moscow for the Shanghai Cooperation Organisation Foreign Ministers’ meeting on Monday, made a “technical halt” for refuelling the special aircraft. Two days after Defence Minister  Rajnath Singh met his counterpart   in Iran, External Affairs Minister S Jaishankar on Tuesday flew to Tehran and met Iranian Foreign Minister Javad Zarif and discussed the Chabahar port project and the situation in Afghanistan,  The Indian Express  has learnt. Jaishankar, who was on his way to Moscow for the Shanghai Cooperation Organisation Foreign Ministers’ meeting on Monday, made a “technical halt” for refuelling the special aircraft. Two back-to-back high-level ministerial visits from India to Iran, sources said, signals Delhi’s commitment to ties with Tehran at a difficult time like this. Jaishankar on India- China  standoff in Ladakh |  ‘Serious situation… need deep conversations at political level’ The visit comes

The Indian Express Dated 10.09.2020 By Sunny Verma and Sandeep Singh NBFCs, however, say that while short-term liquidity has gone up significantly in July and August, it won’t result in credit flow in the economy. In an indication of stabilising financing conditions, fundraising by Non Banking Financial Companies (NBFCs) in the short-term money market has risen nearly 15 times over the last four months. NBFCs raised Rs 63,677 crore in August through the issuance of commercial papers (CPs), a dramatic increase from the Rs 4,275 crore that they raised in April. In August, housing finance companies (HFCs), too, raised over four times the funds they did in April; and over the same period, fundraising by financial institutions more than doubled. Any market-wide challenges related to financing, as well as the subsequent stability, are manifested first in the short-term money market. A CP is an unsecured money market instrument that can be issued for maturity periods ranging from seven days t

  Hindustan Times Dated: September 10, 2020 By:  Shankhyaneel Sarkar Foreign minister S Jaishankar met Russia’s foreign minister Sergey Lavrov on Wednesday and discussed strategic ties focusing on special and privileged strategic partnership between both the nations. Both foreign ministers also spoke about the current international situation. Following the meeting, the union minister for foreign affairs tweeted, “Pleasure to meet FM Sergey Lavrov, this time in person. Excellent talks that reflect our Special and Privileged Strategic Partnership. Value our exchanges on the international situation.”  Russian foreign minister Lavrov said that Russia highly appreciates the discussions and looks forward to further developing strategic bilateral ties across all areas including BRICS and UN. Jaishankar had earlier met the foreign ministers from Kyrgyzstan and Tajikistan. He called his meeting with his Kyrgiz counterpart C Aidarbekov ‘fruitful’ and then later on went to meet Tajikistan foreign

Hindustan Times Dated 10.09.2020 By Shaankhyaneel Sarkar The Palestinian foreign minister has called on Arab states to dismiss a deal between the United Arab Emirates and Israel to normalise relations, describing the agreement scheduled to be finalised next week as “an earthquake”. The UAE and Israel announced the deal to establish full diplomatic relations on August 13. It reflected a changing Middle East in which shared concerns about arch-enemy Iran have largely overtaken traditional Arab support for the Palestinians. Most of the Arab world has long rejected diplomatic ties with Israel in the absence of a peace deal establishing a Palestinian state on lands captured by Israel in 1967. That steadfast support for the Palestinians, however, has begun to weaken in recent years, in large part because of shared enmity with Israel toward Iran and Iranian proxies in the region. The Palestinians have repeatedly voiced their rejection of the US-brokered Israel-UAE deal as trading away one of

  Hindustan Times Dated: September 10, 2020 BY: Rahul Singh The Chinese PLA has deployed 5,000 to 6,000 soldiers in the area, and the armed forces are fully prepared to deal with any contingency, they added. The Indian Army has rushed its front-line tanks and infantry combat vehicles (ICVs) to strategic heights held by its soldiers on the southern bank of Pangong Tso in eastern Ladakh, in response to intimidating military moves by the Chinese People’s Liberation Army (PLA) in the theatre, where conflict is below the threshold of a shooting war but could take any trajectory, top government officials told HT on Wednesday. The PLA is parading its tank squadrons, mechanised infantry squads, and thousands of soldiers in the area in a show of strength to threaten the Indian Army after it swiftly occupied key heights to prevent the PLA from grabbing Indian territory on August 29, the officials said, requesting anonymity. The Chinese PLA has deployed 5,000 to 6,000 soldiers in the area, and th

  The Indian Express Dated: 10 September 2020 By: Sandeep Singh The sharp decline in technology stocks, that include some of the biggest companies in world, had a ripple effect on global markets too and has kept the markets in Asia and Europe under stress over the last week. Over the last three trading sessions, Nasdaq Composite in the US has declined 10 per cent in line with sharp correction in stock prices of technology giants including  Apple , Amazon,  Facebook , Nvidia, Tesla, Netflix and Zoom Video Communications among others. The sharp decline in technology stocks, that include some of the biggest companies in world, had a ripple effect on global markets too and has kept the markets in Asia and Europe under stress over the last week. While the fall has been sharp, it is in line with expectations of corrections following concerns over high valuations that they were trading on. The rise before the fall Before the fall it is important to see and understand the rise in markets. As t

 The Indian Express' Dated: September 10, 2020 BY:  RITIKA CHOPRA The Law Ministry, sources said, received a proposal from the EC last week on amending Rule 90 of the Conduct of Election Rules 1961 to raise the expenditure cap ahead of the Assembly elections in Bihar. The Election Commission (EC) has proposed a 10 per cent increase in the campaign expenditure limit for all future elections given the constraints posed by the  Covid-19   pandemic ,  The Indian Express  has learnt. The Law Ministry, sources said, received a proposal from the EC last week on amending Rule 90 of the Conduct of Election Rules 1961 to raise the expenditure cap ahead of the Assembly elections in Bihar. The current ceiling for state polls in Bihar is Rs 28 lakh. This will increase to Rs 30.8 lakh once the Law Ministry accepts the proposal and notifies the change. The last hike in the expenditure ceiling was effected before the 2014 Lok Sabha elections. According to government sources, the EC has argued that

Hindustan Times Dated 10.09.2020 By Girish Chandra Prasad Any amount sent abroad to buy foreign tour packages, and every other foreign remittance made above ₹7 lakh, will attract a tax-collected-at source (TCS) beginning 1 October unless you are making the remittance from income that is already tax-deducted at source (TDS). . While the tax on foreign tour packages will be 5% for any amount, for other foreign remittances, the tax will kick in only for the amount spent above ₹7 lakh. For education-related foreign remittances funded by loans, though, the tax will be just 0.5% for the amount above ₹7 lakh, considering many Indian students take loans to pursue education abroad. Under the Reserve Bank of India’s liberalized remittances scheme, individuals can remit a maximum of $250,000 abroad every year. The provision to collect tax on remittances was introduced in the Finance Act of 2020 subject to riders and notified on 27 March to take effect from 1 October. Many financial institutions h

  The Indian Express Dated: September 10, 2020 BY:    Harikishan Sharma  ,  Krishn Kaushik Under the existing policy, the defence industry can bring FDI up to 49 per cent under the automatic route, and above it “under government route, wherever it is likely to result in access to modern technology or for other reasons to be recorded”. The new policy raising the cap of foreign direct investment through automatic approval in the defence sector from 49 per cent to 74 per cent now has a ‘National Security’ clause as a condition. The policy was approved by the Union Cabinet on Tuesday. According to sources, the new condition has been proposed by the Ministry of Commerce and Industry. “Foreign investment in the Defence Sector shall be subject to scrutiny on ground of National Security and the Government reserves the right to review any foreign investment in the Defence Sector that may affect national security,” says the new condition. Under the existing policy, the defence industry can bring

 Mint Dated: September 09, 2020 By:  Anulekha Ray The nomination was submitted by Christian Tybring-Gjedde, a Norwegian parliamentarian Earlier, Tybring-Gjedde nominated Trump for the award for his diplomatic efforts with North Korea United States President  Donald Trump  has been nominated for  Nobel Peace Prize 2021  for his role in brokering a deal between Israel and United Arab Emirates, according to reports. The nomination was submitted by Christian Tybring-Gjedde, a Norwegian parliamentarian to the NATO Parliamentary Assembly. "It is for his contribution for peace between  Israel and the UAE . It is a unique deal," Christian Tybring-Gjedde told  Reuters . “No matter how Trump acts at home and what he says at press conferences, he has absolutely a chance at getting the Nobel Peace Prize," Tybring-Gjedde, told  The Associated Press . Earlier, Tybring-Gjedde nominated Trump for the award for his diplomatic efforts with North Korea. Last year Trump said he deserved to