On Internet rules, India now more willing to say ICANN

October 14, 2012
New Delhi, October 14: India has reinvented its position on Internet governance, hoping to become a new voice of reason in what has so far been a deeply polarised global debate.

The change, effected after detailed inter-ministerial as well as multi-stakeholder consultation, is intended to distance India from any model propagating governments taking “charge” or “balkanising” the Internet. It was unveiled at the recent Budapest Cyber Space Conference.

According to Minister of State for Telecom Sachin Pilot, who led the Indian delegation to Budapest, instead of opposing the U.S.-based Internet Corporation for Assigned Names and Numbers (ICANN) and its operations through an earlier proposal called the U.N. Committee on Internet-Related Policies (UN-CIRP), India will pursue enhanced cooperation through wider dialogue.

“In our meetings with Fadi Chehade, the new CEO of ICANN, I have sought far stronger representation of the developing world on the four ICANN Advisory committees”, Mr. Pilot told.

ICANN’s committees include the “At Large Advisory Committee (ALAC), Governmental Advisory Committee (GAC), Root Server System Advisory Committee (RSSAC) and the Security and Stability Advisory Committee (SSAC).

Countries such as Russia, China, Uzbekistan and Tajikistan have been advocating governance models that seek to place the Internet under U.N. control while the U.S. and western states have been reluctant to move away from the status quo position of ICANN-led Internet governance. India had positioned its UN-CIRP proposal as something that would lie in between these two extremes. But while the international debate continues, it is keen to step up its engagement with ICANN which remains, for the moment, the only game in town.

“The extreme views being floated by some countries on Internet governance could lead to the balkanisation of Internet and we are against any such move, including control of Internet by government or inter-governmental bodies. We seek enhanced dialogue and continuation of a working group to find ways to resolve the sharp differences that currently exist,” Mr. Pilot said.

Mr. Pilot’s position is consistent with that of Telecom Minister Kapil Sibal, who maintained at two recent meetings on Internet governance in India in September 2012, that India was firmly against government control of the Internet while seeking consensus among multi-stakeholders to develop an appropriate model for the effective management of the Internet.

India had attracted criticism from the U.S. and from corporate stakeholders who want no dilution of the current ICANN-run system after it presented its UN-CIRP model for Internet governance last October at the 66th General Assembly of the United Nations in New York.

While the UN-CIRP essentially sought a shift from the existing ICANN-run model that is perceived to be too close to the U.S. government, many domestic stakeholders were critical of the lack of consultation in the run-up to the October 2011 statement. Signs of a rethink in the government were evident when senior officials in the ministries concerned refused to entertain questions on the genesis of the UN-CIRP proposal put to them by The Hindu over the past few months.

In the run-up to the Budapest meet, a UPA task-force held closed-door consultations involving the Ministry of External Affairs, Ministry of Telecom and IT, industry bodies and others. Latha Reddy, the Deputy National Security Adviser, coordinated this effort.

On the issue of India’s earlier UN-CIRP model, Mr. Pilot also confirmed, “We are moving ahead with new proposals. While the existing system certainly needs to be changed, India’s position will include multi-stakeholder involvement and not inter-governmental bodies that may have been proposed in the past.”

The Indian government’s changed stance on Internet governance, though subtle, is expected to generate further attention at the upcoming Internet Governance Forum in Baku, Azerbaijan next month, where thousands of delegates representing governments, business, civil society, academia and media from across the world will collect to discuss the issue indian_woman_using_internet


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March 27,2020

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

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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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News Network
June 5,2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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