An action-packed 2017 for Indian Parliament

Agencies
December 31, 2017

New Delhi, Dec 31: Making of history, break from tradition, repeated disruptions along with entry and exit of political heavyweights made 2017 a year to remember in the history of Indian Parliament.

For the first time, the presentation of the Union budget was advanced to February 1 and the Railway budget was also merged with it.

The government termed it as a big financial reform so as to make full funds available to Union ministries for execution of their developmental projects before the beginning of the financial year.

The major landmark in the year was the passage of the Goods and Services Tax (GST) bill, which resulted in the ushering in of a new indirect tax regime in the country. All the four bills related to it were passed in the budget session.

To celebrate its passage, the government called a midnight joint parliamentary session, an unusual offing from the usually stormy Parliament, but was boycotted by the most of the opposition.

This session was called at the midnight of June 30, as the GST was to be implemented from July 1.

However, certain other important bills could not see the light of day including one seeking to give constitutional status to the OBC body, National Commission for Backward Classes (NCBC). It got stuck in the Upper House where the government lacks a majority.

At the fag end of the year, an important legislation to criminalise the practice of instant triple talaq was passed by the Lok Sabha.

During the year, Parliament also witnessed debut, retirement and resignation of political heavyweights mainly in the Rajya Sabha.

The year witnessed the entry of BJP chief Amit Shah in the Rajya Sabha, while the BSP supremo Mayawati resigned and CPI(M) general secretary Sitaram Yechury retired from the Upper House.

The Upper House also got a new chairman M Venkaiah Naidu, after he was elected as the country's Vice President, succeeding Hamid Ansari.

The action continued in the Parliament even when it was not in the session as its parliamentary standing committees called two eminent personalities RBI governor Urjit Patel and movie director Sanjay Leela Bhansali.

While Patel appeared before the Parliamentary Standing Committee on Finance, Bhansali was called by the panel on information and broadcasting over the controversy around his movie 'Padmavati'.

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Agencies
January 5,2020

New Delhi, Jan 5: A masked mob on Sunday entered the Sabarmati Hostel on the Jawaharlal Nehru University (JNU) campus and assaulted several students and professors with sticks and rods.

"I have been brutally attacked by goons wearing masks. I am bleeding. I was brutally beaten up," JNU Students' Union (JNUSU) president Aishe Ghosh told reporters.

She has been admitted to the AIIMS here for treatment.

Several other students were also injured in the incident.

In a video of the incident, a group of goons with their faces covered can be seen assaulting students with wooden sticks and rods.

A tweet from the official handle of the JNUSU said, "Sabarmati Hostel: right now. They are beating the students who are inside. Knocking on doors with rods. People are jumping from balconies. #SOSJNU #EmergencyinJNU."

"Professors who were trying to protect us have been beaten up. These are unknown ABVP goons, not all are students, they have covered their faces, and they are moving towards the hotels near the West Gate. Stay alert. Make human chains. Protect each other. #SOSJNU #EmergencyinJNU," another tweet added.

Meanwhile, the ABVP's JNU unit claimed in a tweet: "Emergency in JNU. Leftist goons of JNU accompained with their cadre from other universities have crossed every limit. They have proceeded with unimaginable violence on ABVP activists of JNU."

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Agencies
June 22,2020

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

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News Network
January 13,2020

New Delhi, Jan 13: The Jawaharlal Nehru University Students' Union (JNUSU) has alleged that the varsity administration has blocked the registration of 300 students on the basis of 'fake Proctor inquiries'.

The union had on Saturday asked students of the university to pay their academic tuition fee but not the hiked hostel fee.

"Today the Vice Chancellor first blocked the fee payment portal and then blocked the payment of tuition fees. It is clear that the VC was lying through the teeth when he said students want to register but are not being allowed to by protesters," JNUSU president Aishe Ghosh said.

She said the VC has also blocked the registration of 300 students based on fake proctor enquiries which are not even completed.

"The truth is that it is the administration which does not want students to register and is blocking their registration," she said.

JNUSU vice president Saket Moon said that in the meetings held in HRD ministry, it was decided that the administration would take a lenient view on the students' protest and not take action against them.

He said many students, who opened the portal for registration found they had been academically suspended and could not register.

He said the JNUSU had softened its stand by saying that they would register by paying the old fees but that has been kept on hold.

On Sunday, the administration extended the date for the winter semester registration till January 15.

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