Indo-Sino ties can't take strain of another Doklam

Agencies
June 18, 2018

New Delhi, Jun 18: Bilateral ties between India and China can't take the strain of another Doklam episode, the Chinese envoy to India Luo Zhaohui said on Monday, emphasising on the need to find a "mutually acceptable solution" on the boundary issue through a meeting of the Special Representatives.

The Chinese envoy said at an event here that "some Indian friends" had suggested a trilateral summit comprising India, China and Pakistan, which was a "very constructive" idea.

Dwelling on Sino-Indian ties, he said it is quite natural to have differences but they need to be controlled and managed through cooperation.

"We need to control, manage, narrow differences through expanding cooperation. The boundary question was left over by history. We need to find a mutually acceptable solution through Special Representatives' Meeting while adopting confidence-building measures," he said.

"We cannot stand another Doklam (sic)," the envoy said.

He was delivering a keynote address on 'Beyond Wuhan: How Far and Fast can China-India Relations Go' at an event organised by the Chinese Embassy here.

Indian and Chinese troops were involved in a 73-day stand-off at the Doklam tri-junction of India, Bhutan and China between June to August last year.

One of the immediate fallouts of the Doklam stand-off was the suspension of the Kailash Mansarovar Yatra from Nathu-La side and the annual military exercise between the two countries. China also did not give the hydrological data of the Brahmaputra and the Indus river that originates in Chinese Tibet.

The envoy today said China will continue to promote religious exchanges and make arrangements for Indian pilgrims going to Kailash Mansarovar in Tibet.

Post-Doklam, there have been frequent high-level engagements between the leaders of the two countries.

This year alone, Prime Minister Narendra Modi and Chinese President Xi Jinping have met twice in the last two months in Wuhan and Qingdao.

Luo said the two leaders are also likely to meet on the sidelines of the BRICS Summit and G20 Summit later this year.

He noted that security cooperation is one of the three pillars of the Shanghai Cooperation Organisation, an eight-member grouping also comprising India, China and Pakistan.

The envoy said the proposal of India, China and Pakistan holding a trilateral summit was "very constructive". Leaders of China, Russia and Mongolia hold a similar meet, he noted.

"This is a proposal suggested by some Indian friends and it is a very a good and constructive idea. Maybe not now, but in the future, that is a great idea."

The envoy added that relations between India and China have gone beyond the bilateral scope.

"We need to enhance coordination and cooperation in SCO, BRICS and join hands to tackle social challenges," he said.

Responding to a question on India-China cooperation in Afghanistan, Luo said the two countries have identified a programme to train Afghan public servants and diplomats.

"This is the first step and in future, there is more...," he said.

In the informal summit between Modi and Xi at the Wuhan, the two countries had agreed to work jointly on an economic project in Afghanistan.

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Agencies
August 1,2020

Chandigarh, Aug 1: The death toll in the Punjab spurious liquor tragedy rose to 86 on Saturday even as Chief Minister Amarinder Singh suspended seven excise officials and six policemen, officials said.

The government also announced a compensation of Rs 2 lakh for each of the families of the deceased, they said.

Tarn Taran alone accounted for 63 deaths, followed by 12 in Amritsar and 11 in Gurdaspur’s Batala. Till Friday night, the state had reported 39 deaths in the tragedy unfolding since Wednesday night.

According to an official statement, the CM ordered the suspension of seven excise officials, along with six policemen.

Among the suspended officials are two deputy superintendents of police and four station house officers.

Strict action will be taken against any public servant or others found complicit in the case, said the chief minister, describing the police and excise department failure to check the manufacturing and sale of spurious liquor as shameful.

Nobody will be allowed to get away with feeding poison to our people, he added.

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News Network
June 23,2020

New Delhi, Jun 23: In an unexpected development, the pump price of diesel is all set to surpass the petrol price in the capital, making it the most expensive transport fuel for the first time in a long time.

Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. But in India, due to the lopsided taxation structure, diesel attracts lesser of the tax between the two auto fuels keeping its prices lower than petrol for last several years.

Diesel is currently priced at Rs 79.40 a litre in the Capital, just 36 paise short of petrol price that is being retailed at Rs 79.76 a litre. Going by the trend of price movement in the two products for the last few days where diesel prices have consistently increased by 50-60 paise per litre while the daily increase in petrol prices have fallen to just 20 paise on Tuesday, it is set to surpass petrol prices in next few days.

"Diesel price movement is sharper in international market and if oil companies follow the global price trend, diesel prices will surpass that of petrol later this week. It will be after many years that this would happen and is expected to sustain for some time unless government changes the tax structure of the petroleum products again," said an oil sector expert from one of the big four audit and advisory firms asking not to be named.

Interestingly, even in India the base price of diesel is expensive than petrol. According to the Indian Oil Corporation (IOC), while the base price of petrol in Delhi currently comes to Rs 22.11 per litre, the same for diesel is higher at Rs 22.93 per litre (effective from June 16, 2020). This has been the case for a long time, but retail price of petrol can be higher than diesel due to central and state taxes.

What has now brought diesel prices to a whisker of petrol prices in the capital is the Delhi government's decision early May to increase the Value Added Tax on diesel from 16.75 per cent to 30 per cent and on petrol from 27 per cent to 30 per cent. This increased the retail price of diesel and petrol in Delhi by Rs 7.10 and Rs 1.67 a litre respectively. With Central taxes on the two products already reaching identical levels, the Delhi governments move hastened price parity between petrol and diesel.

Currently, the Central excise on petrol is Rs 32.98 a litre while that on diesel it is Rs 31.83 a litre. The VAT on petrol in Delhi is Rs 17.71 a litre and that on diesel is Rs 17.60 a litre.

While the movement of retail pricing is being seen with a sigh of relief by vehicle owners whose cars run on petrol, those buying the relatively expensive diesel cars are now repenting on their decision. The development is also being seen with caution by automobile companies who have spent millions to ramp up their facilities for diesel run vehicles. The expectation is that demand for such cars will now fall, causing more damage to companies where sales are already impacted due to persistent economic slowdown and now the spread of COVID-19 pandemic.

"The pricing development would push automobile companies to strategies being followed by companies in the western markets where diesel run cars are not sold on fuel pricing differential, but on overall make and quality that puts them ahead of petrol run cars," the expert quoted earlier.

Yes, but for commercial vehicle sector the rising price of diesel had not been welcomed. In fact, the commercial transport sector had time an again threatened strike against the move to raise fuel prices.

With petrol and diesel retail prices closing, the case for adultering fuel has also gone down much to the relief of vehicle owners.

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Agencies
March 6,2020

Mumbai, Mar 6; The Indian equity indices slumped on Friday morning, with the BSE Sensex falling over 1,450 points

The slump across the sectoral indices was led by the finance and banking stocks as the Reserve Bank of India on Thursday superseded the board of directors of Yes Bank and placed it under moratorium.

Persistent fears of the coronavirus outbreak severely impacting global economy also weighed on the investor sentiments, analysts said.

At 9.36 a.m., the BSE Sensex trimmed some losses and was trading at 37,376.66, lower by 1,093.95 points or 2.84 per cent from the previous close of 38,470.61

So far, the index has touched an intra-day low of 37,011.09, falling by 1,459.52 points.

It had opened at the intra-day high of 37,613.96.

The Nifty50 on the National Stock Exchange was trading at 10,938.75, lower by 330.25 or 2.93 per cent from its previous close.

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