Growth has fallen, but govt. can reverse trend, says PM
Prime Minister Narendra Modi on Wednesday took on critics of the government’s handling of the economy, stressing that the first quarter of this year was not the first time that India’s growth had slipped to 5.7%. Although Mr. Modi indicated that a fiscal stimulus may not be in the offing, he said the government was capable of and committed to take all necessary steps to revive growth and resolve all glitches that have arisen in the first three months of the Goods and Services Tax (GST) regime.
RBI holds interest rates, warns against fiscal laxity
The Reserve Bank of India (RBI) on Wednesday kept interest rates unchanged citing concerns about upward risks to inflation and cautioned the government against steps to relax fiscal discipline to spur growth as such a move could potentially adversely impact the deficit and add to inflationary pressure.
Tripura govt suspends Internet services again
The Tripura government on Wednesday suspended Internet services for the second time this month after a fresh spell of violence at Khumulwng, near the State capital. A number of people, including women, were injured after paramilitary forces lobbed tear gas shells and resorted to baton charge to disperse a mob that was protesting against the arrest of a youth in connection with the kidnapping of a driver on September 20.
Bengal BJP chief faces protests during visit to Darjeeling hills
West Bengal Bharatiya Janata Party (BJP) president Dilip Ghosh faced demonstrators when he visited Kalimpong in the Darjeeling hills on Wednesday, almost a week after the withdrawal of three-month-long indefinite strike demanding creation of separate State of Gorkhaland.
Water recedes in Assam, Food situation improves
The flood situation in Assam improved considerably on Wednesday with the water level receding further, leaving only three districts affected by the fourth wave of deluge, according to a report by the Assam State Disaster Management Authority (ASDMA).
Pakistan living in the past, India tells UN
Pakistan has raked up the Kashmir issue again at the U.N. with its Permanent Representative, Maleeha Lodhi, accusing India of spreading terrorism in the Valley, but India described her diatribe as a “lonely voice from the wilderness”.
RBI flays banks for keeping rates high
The Reserve Bank today flayed lenders for keeping interest rates high and flagged concerns over the base rate and the marginal cost of fund-based lending rate (MCLR), saying these have not improved monetary transmission.
Natco surges on USFDA nod for Mylan’s MS drug.
Natco Pharma shares on Wednesday surged by 20%, or ₹159.05 apiece, after the USFDA approved marketing partner Mylan’s application for a generic version of Teva’s Copaxone, used totreat multiple sclerosis (MS).
BJP takes out march against ‘political violence’ in Kerala.
Union Ministers Jitendra Singh and Vijay Goel, along with other senior BJP leaders, marched in Delhi on Wednesday to protest against the Communist Party of India (Marxist)’s alleged targeting of its party cadre in Kerala. BJP president Amit Shah had on Tuesday flagged off a ‘Janaraksha Yatra’ in Kerala and had announced that a ‘padyatra’ would be held in all the State capitals from Wednesday over the issue of political violence in Kerala.
Coal fired projections
The Niti Aayog in the Draft National Energy Policy (DNEP) has predicted that between the present year and 2040, there will occur a quantum leap in the utilisation of renewable energy and a considerable reduction in the use of fossil fuel energy. The Prime Minister too recently stated that the govenrment would be investing around $2.5 billion for providing electricity connections across every home in india towards the end of 2018. However, the DNEP in wake of its prediction fails to shed light on some of the major issues. In the boost to the renewable energyy sources, the DNEP failed to analyse the future of coal mines and their produce. While at present India would keep on relying on the coal driven energy, the future of coal and a reduced demand of coal across has been a cause of worry for the coal producers. The second failure of analysis is that DNEP fails to give priority to electricity vehicle concept. By boosting the oil production and urging the people to opt for public transportation systems to reduce use of oil, the DNEP has ruled out electric transportation facilities. The authorities should focus on these two analysis to bring about a radical change and materalise its goal of a cleaner and renewable energy equipped economy.
Gathering clouds over West Asia
West Asia has clouds looming over its fate. with the regional powers in the region trying to cope up with the gap created by the dismantling of Islamic State, the relations with Europe turning sourer by the day and the crisis in the Gulf Cooperation Council (GCC), the big cloud is perhaps the Joint Comprehensive Plan of Action ( JCPOA). This is a nuclear deal that was agreed between Iran and six other major powers and will celebrate its second anniversary this month. This deal is a towering example of diplomacy recognizinf Iran's right to utilise uranium in exchange for resstrained nuclear activities.However, forces in Arab World, the conservative spectrums in Israel and the U.S. denounced the agreement. The forces stated that the deal it did not address Iran’s non-nuclear behaviour like its support for Hezbollah and associate militant organisations to name a few. If the nuclear deal is to somehow collapse, Tehran is most unlikely to expel the inspectors entirely or withdraw itself from the Nuclear Non-Proliferation Treaty (NPT). Iran would then consider restarting the nuclear build-up which was halted post an interim deal on November 2013.