Today's Hot Stories - March 25, 2014 - PT education

Today's Hot Stories - March 25, 2014

10 Headlines for Today

(1) DMK expels Alagiri
(2) IM chief Tehseen Akhtar arrested
(3) Russia suspended from G8 over Ukraine crisis
(4) Axis Bank told to pay Dipika Rs.5 lakh for faulty service
(5) Bank of India launches instant money transfer scheme
(6) Dell serves up ‘hospital IT in a box’ for India
(7) Sri Lanka thrash Netherlands in fastest ever T20I win
(8) North Zone storms into Deodhar Trophy final
(9) FIDE turns to Sandeep Singh for coverage
(10) Nirbheek, world's first gun for women, to be launched today

5 Stories for Today

(1) Rumblings within: it's old guard vs rising star in BJP
(2) Japan to offer $1.5 billion aid to Ukraine
(3) Centre reaches out to eminent PIOs to help electronics sector
(4) Nokia yet to come up with concrete proposal to settle tax row
(5) FinMin sees improvement in economy

(1) Rumblings within: it's old guard vs rising star in BJP


It should have been obvious to anyone with even an iota of political sense that it would be disastrous to invite someone like Pramod Muthalik, the chief of the Sri Rama Sene, into the party.

But clearly, the man’s dodgy track record and his singularly ugly feats of hounding young women in nightclubs and courting couples on Valentine’s Day did nothing to deter the state leadership of the BJP in Karnataka from welcoming him to the fold, only to shunt him out when a furious Narendra Modi made his opposition clear.

But, this suggests that the left hand in the BJP does not know what the right hand is doing. Those present welcoming Mr Muthalik were state party president Prahlad Joshi and former chief minister Jagadish Shettar, no small fry by any stretch of the imagination.

Such controversies are something the BJP can do without. At a time when the party is showing its inclusive, women-friendly, youth-compatible side, courting someone like Mr Muthalik is bound to raise suspicions of the party’s real intentions. The logic given by the state leadership was that Mr Muthalik had helped in the assembly polls, which itself does the party no credit.

The BJP is facing enough problems without a controversy over an unsavoury non-entity. Many of its seniors seem unhappy with the way things are being run in the party. Jaswant Singh, miffed at being denied the Barmer seat, has decided to strike out on his own.

Sushma Swaraj has expressed her sadness over the treatment of Mr Singh. Murli Manohar Joshi was not at all happy to make way for Mr Modi in Varanasi. And, of course, party patriarch LK Advani’s tantrums are now legendary. But, whether all this will affect the party at the polls is not certain.

What is clear is that Mr Modi is trying to bring in a new set of leaders into the party. The old guard is naturally unhappy with this as happens in all parties. The only problem seems to be that these differences are all being aired in public, much to the glee of the BJP’s opponents. This is something that the party could have managed a whole lot better.

In the Muthalik crisis, it would seem that the state unit did not consult the central leadership. In Mr Singh’s case, perhaps the leadership could have soothed his ruffled feathers as it did in the case of Mr Advani.

But all these conciliatory moves seem to take place after the dirty linen has been washed in public. The BJP is enjoying the kind of popularity it has rarely witnessed. It is a pity that some of the party’s own members seem determined to rain on its parade.

Source: Hindustan Times

(2) Japan to offer $1.5 billion aid to Ukraine


Japan is to give up to $1.5 billion in financial aid to Ukraine, the government in Tokyo confirmed Tuesday, as the club of rich nations booted Russia off the membership list.

Prime Minister Shinzo Abe announced the figure as he and fellow world leaders, including US President Barack Obama, cancelled an upcoming G8 meeting in Sochi, and said it would be replaced by a G7 event that did not involve Moscow.

Chief cabinet secretary Yoshihide Suga told reporters in Tokyo that Kiev needed help at a time of huge strain on the country's finances.

"It is extremely important that each country in the international community gives support so that Ukraine, facing a severe economic situation amid political confusion, will be able to restore economic stability," he said.

"Against that background, the prime minister announced that Japan will provide economic assistance of up to 150 billion yen ($1.5 billion) on condition that the Ukraine government will reach an agreement with the (International Monetary Fund) on economic reforms.

"Of the sum, 110 billion yen will be (low-interest) yen loans." At the meeting in The Hague, the G7 also threatened tougher sanctions against Russia for its absorption of Crimea, which has plunged relations between the West and Moscow to their lowest point since the Cold War.

The gathering came as Ukraine ordered its outnumbered troops to withdraw from Crimea as yet another of its bases was stormed.

Earlier, the White House had said it was "very concerned" by a build-up of Russian troops on the border.

Tokyo has fallen into line with Washington and its allies in tightening the screws on Moscow, despite the differing strategic priorities for a nation entirely dependent on imports for its energy, with Russia a key global supplier of gas.

Abe has held multiple summits with Russian President Vladimir Putin since coming to office in late 2012 and was one of the few pro-Western leaders who attended the opening of the Winter Olympics in Sochi. Others stayed away to register disquiet over Moscow's anti-gay laws.

The Japanese leader has been pushing to expand the two countries' economic ties and resolve a decades-old territorial conflict at a time that Tokyo is embroiled in separate disputes with China and South Korea.

However, isolating Putin over Crimea threatens to derail progress towards resolving the issue, which has prevented Tokyo and Moscow signing a formal treaty ending World War II hostilities.

Source: The Economic Times

(3) Centre reaches out to eminent PIOs to help electronics sector


They would help by providing knowledge and expertise

The Government has reached out to eminent persons of Indian origin (PIOs) to put together a possible ‘board of global advisors’ that could help in developing the electronics sector in India, according to people with direct knowledge of the matter.

The electronics manufacturing industry has not taken off in the country, primarily due to a lack of a strong base and the failure to build a strong ecosystem.

The country’s demand for electronics is expected to reach $400 billion by 2020, with imports accounting for nearly $300 billion of that amount.

The Department of Electronics and Information Technology (DeitY), therefore, is reaching out to Indian-origin persons who could help by contributing their knowledge, experience and expertise.

As an initiation of this association, the DeitY intends to constitute an ongoing mechanism to formalise this association as a possible board of global advisors, according to sources.

“It has now gotten to a point where even sustaining growth trends in the IT and telecom industries is dependent on the ability to foster electronics design and manufacturing in the country,” said a renowned Indian-American computer scientist, who was contacted by the DeitY but did not wish to be named.

Several eminent Indian-origin scientists and entrepreneurs have, therefore, been asked to submit several proposals and ideas on what can be done to encourage an ecosystem for electronics manufacturing in the country.

This new group of advisers is a logical culmination of the Centre’s intention to remove all barriers towards encouraging electronics manufacturing, according to sources.

The National Policy of Electronics in 2012 set out a vision to create a globally-competitive electronics design and manufacturing industry, and the first practical step in this direction was the recent ‘in-principle’ decision to support the setting up of two semi-conductor wafer fabs.

The move to now have Indian-origin persons to partner with India is designed to bolster the Government’s other actions.

Source: The Hindu

(4) Nokia yet to come up with concrete proposal to settle tax row


Nokia India Pvt Ltd so far has not come to the Central Board of Direct Taxes (CBDT) with a concrete proposal to settle its tax row with the department, a senior finance ministry official said today.

"The apex court had asked Nokia India Pvt Ltd to come CBDT with a concrete proposal. They (Nokia) have not come to us. The Supreme Court (SC) has dismissed Nokia's plea. Things stand at that," CBDT Chairman R K Tewari told reporters here.

Nokia, whose devices and services unit is being bought by Microsoft, is fighting a Rs 21,000-crore claim by the Income Tax Department over royalty payments made to its parent company in Finland.

The apex court on March 14 had dismissed Nokia's plea against the Delhi High Court order directing its parent company in Finland to give an undertaking to fulfil the conditions relating to payment of tax dues.

The apex court's decision not to interfere with the High Court order had assumed importance as it would put hurdles on Nokia to transfer its Chennai plant which is a part of the USD 7.2 billion global deal with Microsoft.

The apex court had also earlier asked the Nokia India Pvt Ltd to come up with a concrete proposal to settle its tax row with the I-T Department.

The handset maker had said it would approach the tax authorities for their approval for the transfer of its assets to Microsoft along with final valuation of its Indian assets.

However, when the company submitted the report of internal valuation of its Chennai plant and not that of an expert, the bench had disapproved it.

"This is no way. You should have got valuation report by an expert. We wanted to have some authentic valuation," the Court had observed.

Nokia's counsel had submitted the projected tax demand is about Rs 21,000 crore.

The I-T Department's counsel had said the company was not fair with the court and had "not come to court with clean hands".

Solicitor General Mohan Prasaran had said Nokia India had made no profits but it gave Rs 3,500 crore dividend to its parent company Nokia Corporation Finland by taking money from its reserves.

Source: The Indian Express

(5) FinMin sees improvement in economy


Exuding confidence that growth will improve in the coming months, the Finance Ministry on Monday said economy has stabilised, which is evident from the strengthening of the stock markets as well as the rupee.

“I certainly believe... the economy has stabilised and that is reflected in rupee and stock markets. And going forward, I think, we will see growth numbers also improving,” Economic Affairs Secretary Arvind Mayaram told reporters here.

The stock market barometer BSE Sensex on Monday jumped more than 1 per cent to log new lifetime high, while the rupee appreciated 24 paise to trade at 60.65 against the US dollar, on good foreign investor inflow.

The 30-share Sensex was last trading nearly 300 points higher, or 1.39 per cent, at 22,055. It surpassed its previous intra-day record high of 22,040.72 logged on March 18.

“I think we are surely in a position where we can say that, India is among the best among the emerging markets, and this will continue to be so in future,” Mr. Mayaram said.

As per the CSO estimates, the economy would expand 4.9 per cent in the current fiscal ending March, up from 4.5 per cent recorded in 2012-13.

Growth in the first nine months (April-December) was 4.6 per cent. The economy must expand by 5.7 per cent in January-March quarter to achieve the estimated GDP expansion of 4.9 per cent in 2013-14.

Inflation is showing signs of cooling. Wholesale price-based inflation fell to nine-month low of 4.68 per cent, while retail inflation slowed to a 25-month low of 8.1 per cent in February.

Source: Hindustan Times

Disclaimer: All news stories and content sourced from freely available material on the internet. All sources are acknowledged.