India showed great character, says Kohli after series win against England

Agencies
July 9, 2018

Bristol, Jul 9: Indian captain Virat Kohli praised his teammates for showing character in tight situations in the seven-wicket win in the third and final T20 International to clinch the series 2-1.

Kohli lauded the effort of his bowlers to come back at the back end and restrict England to a sub-par score while praising Hardik Pandya and centurion Rohit Sharma for their efforts with the bat.

"The comeback from the bowlers was outstanding. At one stage we thought they'd end up getting 225-230. But the character they showed, that's something we're very proud of. Just hit our areas better I guess," Kohli said at the post match presentation ceremony.

"We have the qualities to bowl wicket-taking deliveries as well. 25-30 runs in this format can be massive," he added.

Talking about the run chase, Kohli said, "(Hardik) Pandya is a really good all-round cricketer. He's confident with his skills with bat and ball. The way he came back after his first over is what you want to see as a captain. It was difficult for the bowlers.

"We enjoyed ourselves as batsmen. I don't like to look at hindsight and say we could have added another bowler. Guys came up with the good. We're gonna continue and try different things. You saw the kind of energy and attitude we had on the field. It's a great way to start the tour."

Man-of-the-match and series, Rohit Sharma said he assessed the conditions first before going for the big strokes.

"That's the style of my play. Assessing conditions was important at the start of the innings. Once we see off the new ball, we always knew wicket was a good one with short boundaries. Held my shape well. I like to be calm, not to panic too much," he said.

"I know once you're there, you can make it up later. Always important to try and assess the bowlers as well. With four fielders inside, there's always that option to take chances," said Rohit who hit 100 not out off 56 balls.

About Pandya, he said, "Pandya has done that for few years now. More often than not he will play such innings in the back end. The way he bowled gave him confidence. He's a fearless individual. That's what the team wants him to do."

England captain Eoin Morgan said his team faltered in execution.

"It was a tremendous start with the bat. Roy and Buttler prove a dominant force at the top but we didn't do their platform justice. Normally it's one of the best parts of our game. On a small ground on a flat wicket we're expected to score more than that. Difficult to defend on grounds like this. It's more the conditions," he said.

"Teams like Pakistan, India, they have a big following and we're used to it. Hopefully we can learn as we go along. This series has had three different tests for us. It's exciting. Trent Bridge has been a good ground for us. The last couple of times we've lost the toss there, we've been able to get a result."

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Thanzeel
 - 
Monday, 9 Jul 2018

Congrats Team India. The very talented team .

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Agencies
June 14,2020

New Delhi, Jun 14: Petrol price on Sunday was hiked by a record 62 paise per litre and that of diesel by 64 paise as oil companies for the eighth day in a row adjusted retail rates in line with cost since ending an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 75.78 per litre from Rs 75.16 while diesel rates were increased to Rs 74.03 a litre from Rs 73.39, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

The 62 paise a litre increase in petrol and 64 paise hike in diesel price is the highest surge in rates since the daily price revision was started in June 2017.

This is the eighth daily increase in rates in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

In eight hikes, petrol price has gone up by Rs 4.52 per litre and diesel by Rs 4.64 -- a record increase in rates in any eight days since the daily price revision was introduced.

The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of international oil prices falling to two-decade lows.

The government had first raised excise duty on petrol and diesel by Rs 3 per litre each on March 14 and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.

State-owned fuel retailers IOC, BPCL and HPCL had frozen petrol and diesel prices since March 16, as if anticipating the government move and set off gains they accrued from continuing drop in international oil prices against the excise duty hike.

They, however, promptly passed the increase in local sales tax or VAT by state governments such as Rs 1.67 increase in VAT on petrol and Rs 7.10 in diesel by the Delhi government on May 4.

The total incidence of excise duty on petrol has risen to Rs 32.98 per litre and that on diesel to Rs 31.83. The excise tax on petrol was Rs 9.48 per litre when the Narendra Modi government took office in 2014 and that on diesel was Rs 3.56 a litre.

The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting global oil prices.

In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.

It cut excise duty by Rs 2 in October 2017 and by Rs 1.50 a year later. But it raised excise duty by Rs 2 per litre in July 2019.

It again raised excise duty on March 14 by Rs 3 per litre.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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