Gold price hits new high at 31k

August 24, 2012

gold-bar

New Delhi, August 24: Gold price on Thursday surpassed all previous records to touch the Rs 31,035-mark per 10 grams, in tune with global prices that touched a 16-week high.

In the spot market, the price of gold rose by Rs 290 to Rs 31,035 per ten grams in the national capital, surpassing the previous record of Rs 30,750 set on June 19.

In Mumbai, gold prices increased by Rs 135 to Rs 30,515, while in Kolkata the rates rose by Rs 235 to Rs 30,960. In Chennai, the price surged by Rs 270, to Rs 30,685 per 10 grams, from the previous day close.

Traders said domestic gold price was supported by a strong rally in the overseas market and rise in demand from stockists and jewellers for the upcoming wedding season.

“Any change in global prices reflect in the domestic market. International prices rose on hopes of third round of stimulus by the US government to boost economy, lifting investment sentiments,” commodity brokerage firm SMC Comtrade Managing Director D K Aggarwal said.

Weak dollar index against other currencies also helped gold price surge, he said, adding that weaker dollar increased the metal’s appeal as an alternative asset.

The Indian rupee appreciated to 55.41 against the US dollar on Thursday. In the international market, gold price rose to a 16-week high to $1,665.09 an ounce, and silver gained by 2.5 per cent to $30.57 an ounce.

Silver price in the country also increased by Rs 1,000, to Rs 57,000 per kg on strong global cues. Price of silver coins rose by Rs 3,000, to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.


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News Network
January 1,2020

Jan 1: The ban on the practice of instant triple talaq, making it a penal offence and the increase in the strength of Supreme Court judges were two of the major achievements of the law ministry in 2019.

In July, Parliament gave its nod to The Muslim Women (Protection of Rights on Marriage) Bill, 2019. The new law makes talaq-e-biddat or any other similar form of talaq having the effect of instantaneous and irrevocable divorce pronounced by a Muslim husband void and illegal.

It makes it illegal to pronounce talaq three times in spoken, written or through SMS or WhatsApp or any other electronic chat in one sitting.

According to the new law, any Muslim who pronounces the illegal form of talaq upon his wife shall be punished with imprisonment for a term which may extend to three years, and shall also be liable to fine.

During the year, four new judges were appointed to the Supreme Court in September, taking its strength to 34, the highest-ever.

However, vacancies in high courts and lower courts are on the rise and convincing state governments and the 25 high courts to come on board to create an all-India judicial service to recruit judges for the subordinate courts tops the agenda of the Law Ministry in 2020.

Besides creating a consensus on setting up the All-India Judicial Services, the ministry will also have to focus on filling up vacancies in the high court. On an average, the vacancies stood at 400 throughout this year.

With more than 5,000 positions of judicial officers in district and subordinate courts lying vacant, the Law Ministry has pitched for setting up all-India judicial services.

The sanctioned strength of the judicial officers in district and subordinate courts was 22,644. The number of judicial officers in position and vacant posts is 17,509 and 5,135, respectively.

The government has proposed that while states and high courts can recruit judicial officers, the Union Public Service Commission (UPSC) can hold pan-India entrance tests.

The ministry has made it clear that such services would not encroach on the powers of the states.

As of now, the selection and appointment of judges in subordinate courts is the responsibility of the high courts and state governments concerned.

The Narendra Modi government has given a fresh push to the long-pending proposal to set up the new service to have a separate cadre for the lower judiciary in the country.

But there is a divergence of opinion among state governments and respective high courts on the constitution of the All India Judicial Service (AIJS).

One of the problems cited is that since several states have used powers under Code of Criminal Procedure (CrPC) and Code of Civil Procedure (CPC) to declare that the local language would be used in lower courts even for writing orders, a person say selected from Tamil Nadu may find it difficult to hold proceedings in states like Uttar Pradesh and Bihar.

The other point of opposition is that an all India service may hamper the career progression of state judicial services officers.

Another key issue the ministry has to handle in 2020 is vacancies in the 25 high courts.

Throughout 2019, on an average, the high courts faced a shortage of 400 judges.

According to Law Ministry data, as on September 1, the high courts had 414 vacant positions as compared to the sanctioned strength of 1,079 judges. The figure was 409 in August and 403 in July, as per the data.

A three-member Supreme Court collegium recommends the names of candidates for appointment as high court judges. In case of appointments to the Supreme Court, the collegium consists of five top judges of the top court.

High court collegiums shortlist candidates for their respective high courts and send the names to the law ministry.

The ministry, along with background check reports by the Intelligence Bureau, forwards it to the Supreme Court collegium for a final call.

The government has maintained that appointment of judges in the high courts is a "continuous collaborative process" between the Executive and the Judiciary, as it requires consultation and approval from various Constitutional authorities.

Vacancies keep arising on account of retirement, resignation or elevation of judges and increase in judges' strength. In June last year, the vacancy position stood at 399, while it was 396 in May.

In April, 399 posts of judges were vacant, while the figure was 394 in March. The vacancy position in February stood at 400 and in January, it was 392, according to the data collated by the Department of Justice.

Over 43 lakh cases are pending in the 25 high courts.

Another priority would be the finalisation of the memorandum of the procedure to guide the appointment and transfer of the Supreme Court and high court judges. The issue had now been pending for over two years now with the SC collegium and the government failing to reach a consensus.

Successive governments have also been working on making India a hub of international arbitration. It has taken several steps to change laws dealing with commercial disputes.

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News Network
June 23,2020

New Delhi, Jun 23: With an increase of 14,933 new cases and 312 deaths in the last 24 hours, India's COVID-19 count reached 4,40,215 on Tuesday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 14,011 deaths have been recorded due to the infection so far in the country.

The rise in confirmed cases today is lower than the highest spike of 15 thousand plus cases registered on Sunday.

The count includes 1,78,014 active cases, and 2,48,190 cured/discharged/migrated patients.

Maharashtra with 1,35,796 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 61,807 active, 67,706 cured, discharged patients while 6,283 deaths have been reported due to the infection so far.

Meanwhile, the national capital's confirmed coronavirus cases reached 62,655.

2,233 deaths have been reported in Delhi due to the infection so far.

Tamil Nadu has reported 62,087 cases so far with toll increased to 794.

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Agencies
July 30,2020

New Delhi, Jul 30: Even as COVID-19 cases continue to surge in various parts of India, more than 1 million people have recovered and discharged till now, informed Rajesh Bhushan, Secretary, Ministry of Health, here on Thursday.

"More than 1 million people have recovered from COVID-19 in the country. This landmark recovery has been achieved because of the selfless work and dedication of our doctors, nurses and frontline workers," Bhushan said at a press conference.

Giving the number of cured persons, Bhushan said, "More than 1,020,000 patients have recovered. They have been discharged. It is a great achievement."

He said, "The recovery rate has shown positive trends. It was 7.85 per cent in April and today it is 64.4 per cent, which is another heartening news which tells us that whatever battle is put by the Union government in collaboration with state governments is showing results."

"Sixteen states of the country have a recovery rate that is more than the national average. Of these, Delhi has a recovery rate of 88 per cent, Ladakh 80 per cent, Haryana 78 per cent, Assam 76 per cent, Telangana 74 per cent, Tamil Nadu & Gujarat 73 per cent, Rajasthan 70 per cent, Madhya Pradesh 69 per cent and Goa 68 per cent," Bhushan said.

He said effective clinical management lead to a decrease in case fatality rate. In June it was 3.33 per cent and now 2.21 per cent.

Bhushan said the case fatality rate in India today is 2.21 per cent and it's among the lowest in the world. Twenty-four states and Union Territories have lesser fatality rate than that of the country.

Herd immunity in a country of the size and population of India can not be a strategic option. It can only be achieved through immunisation.

"Over 18,190,000 tests have been conducted in the country including RT-PCR and rapid antigen tests. There has been a week-on-week increase in average tests per day. India is conducting 324 test per 10 lakhs population per day," Bhushan said.

He added, three vaccine candidates, are in phase 3 clinical trial. These three are in the US, UK and China. In India, two indigenously developed vaccine candidates are in phase I and II of clinical trials. 

Trial of the first vaccine involves 1,150 subjects at eight sites, second on 1,000 subjects at five sites.

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