Obama hosts dinner for Modi ahead of Summit talks

September 30, 2014

Obama Modi DinnerWashington, Sep 30: Ahead of their Summit talks, US President Barack Obama today hosted private dinner for Prime Minister Narendra Modi as the two leaders sought to reinvigorate bilateral ties.

The Prime Minister, who arrived here late afternoon at the Andrew Airforce Base, was received by William Burns, Deputy Secretary of State and other senior officials.

From there, Modi left for the Blair house, the American President's guest house where he will be staying during his Washington trip. Later, he drove to the White House from the Blair guest house for the dinner.

"Kem Cho," asked Obama when he welcomed Modi, who replied, "Thank you very much, President."

The dinner, with limited guests from each side in the Blue Room of the White House might have a delectable spread of dishes, but the main guest only had warm water as he was observing Navratri fasts.

However, First Lady Michelle Obama did not attend the dinner as she was travelling.

"The Prime Minister did not had anything except for warm water," External Affairs Ministry Spokesperson Syed Akabruddin said.

Later, Modi said he had a wonderful meeting with Obama during which they talked about a wide range of issues.

"Obama & I share a vision for a partnership in which our nations work together for the benefit of the entire humankind," the Prime Minister tweeted.

On the issues of discussion during the 90-minute dinner meeting, Akabruddin said discussions were largely on knowing each other and sharing the initial experiences after they took over.

They shared anecdotes to connect with each other, he said while describing the dinner meeting as a "very successful interaction".

"They did not get to discuss any of the substantive issues. This was a very cordial and comforting conversation where each of them were trying to understand others perspective and they did not get into very substantive discussion which will follow tomorrow," he added.

They agreed to take up more substantive issue tomorrow -- both in restrictive format and in delegation level talks -- but in general the thinking was that there was a lot of goodwill between India and the US for each other, he said.

"There was a feeling that they should try and focus on some big things that they can achieve in a finite time period in the next few years," the Spokesperson said.

"There was also a feeling that India-US relationship was among the most important relationships in the world today. And therefore, it was incumbent upon both of them to work towards strengthening and deepening this relationship," he said.

The Prime Minister was asked to outline his vision of what were the issues he faced so far and how he was working on it, the Spokesperson said.

"Remarkably some of those things the Prime Minister mentioned seemed to have resonance with President Obama, because he said he had similar concerns when he came in power.

Giving example of how the two leaders connected, he said Prime Minister told Obama that when he came to Delhi he found that the technological infrastructure in the Indian capital was not even as good as Gujarat to which the US President said he had similar experience.

They both talked about their focus areas of technology and e-governance.

The two leaders have jointly written an editorial in a US newspaper which would be published tomorrow.

Modi also laid out in great details his hopes and aspirations in terms of what was his development vision and how the US can help in achieving that. There was general understanding that the US and India can work not only in terms of bilateral relations but elsewhere in the world, the Spokesperson said, adding in this context they talked about Ebola disease and Afghanistan. These were the two issues that were broadly flagged, he said.

Basically, today's meeting had three major components -connecting with each other, vision for the ties and cooperation in various areas, the Spokesperson added.

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News Network
May 6,2020

New Delhi, May 6: Taking a cue from states, the Centre announced one of the steepest hikes in duties on petrol and diesel in the recent past, by raising it by Rs 10 and Rs 13 per litre, respectively, in a notification issued late on Tuesday.

Retail prices, however, will see no change as the price hike will be absorbed by oil marketing companies against the fall in crude prices.

Road and infrastructure cess was hiked by Rs 8 for petrol and diesel and the special additional excise duty (SAED) was hiked by Rs 2 per litre and Rs 5 per litre, respectively. While the road cess will only go into the Centre’s coffers, the hike on account of SAED will be passed on to states via devolution at 42 per cent. Hence, the states will get only Rs 0.84 per litre in case of petrol and Rs 2.1 in case of diesel.

The decision comes after several states increased the value added tax (VAT) on petrol and diesel making use of the lower price regime. The Delhi government on Tuesday increased VAT on petrol and diesel to 30 per cent each, from 27 and 16.75, respectively. As a result, the price of petrol in Delhi increased by Rs 1.67 to Rs 71.26 a litre and diesel by Rs 7.10 to Rs 69.29 in Delhi on Tuesday.

Amid falling international crude oil prices, the Centre introduced an enabling provision in March to raise excise duty on petrol and diesel by Rs 8 per litre in the Finance Act. The government had on March 14 raised excise duty on petrol and diesel by? 3 per litre each, which was to help raise an additional ?39,000 crore in revenue annually.

This duty hike included Rs 2 a litre increase in SAED and Rs 1 in road and infrastructure cess. It raised SAED to Rs 10 for petrol and Rs 4 for diesel. The limit has now been increased to Rs 18 a litre in case of petrol and Rs 12 in case of diesel by way of amendment of the Eighth Schedule of the Finance Act.

Economists said the move would impact retail inflation by over half a percentage point at least. “With lower consumption, there was loss of revenue for Centre and states, who earn Rs 6 trillion annually or Rs 50,000 crore monthly from fuel. Amid lockdown in April, the collection must have come down to just Rs 5,000 crore, and this will hold for May.

This means that Centre and states have lost 20 per cent of annual revenue from fuel. Hence, they have hiked duties to recover losses,” said Madan Sabnavis, chief economist, CARE Ratings. He added that the hike will impact inflation by at least 0.6-0.7 percentage points.

According to industry experts, an estimate of the additional government revenue cannot be made as the consumption of petrol and diesel has dropped to 40 per cent of what it was before the lockdown. The duty hike comes following a drop in international crude oil prices in April, owing to lower consumption figures globally. At 11.50 pm on Tuesday, Brent was priced at $30.67 a barrel, while West Texas Intermediate (WTI) crude was seen at $24.36 a barrel. On Monday, the Indian basket of crude oil was priced at $23.38 a barrel, after touching a 15-year low last month.

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News Network
March 24,2020

Kochi, Mar 24: Long queues were witnessed in front of state beverages corporation outlets across Kerala on Tuesday despite the statewide lockdown to prevent the spread of the coronavirus.

As tipplers thronged the outlets unmindful of the curfew, officials asked them to ensure that they kept a one metre distance between them as part of preventive steps to check the COVID-19 transmission.

Official sources said precautionary measures have been taken at the beverages outlets to prevent the virus spread.

Only those wearing masks were allowed to stand in queues, the sources said.

Police were deployed to ensure that the people standing in queues keep a one metre distance between them, they added.

The opposition Congress slammed the CPI(M)-led LDF government for not taking steps to restrict crowds in front of the Kerala State Beverages Corporation (Bevco) outlets, apprehending that such a situation would pave way for spreading the virus.

Ernakulam district congress committee general secretary Sherin Varghese claimed if the government had implemented a 2017 Kerala high court order directing the beverages corporation to take remedial steps to end long queues in front of the outlets, such a situation would not have arisen.

"Had the beverages corporation complied with the court order, safety and security of persons standing in queues could have been ensured.

Now there is no protective measure to prevent the possible transmission of the coronavirus from a carrier to another person," he told PTI.

Meanwhile, the state government has directed that adequate distance be kept between people standing in queues.

Chief Minister Pinarayi Vijayan on Monday justified the decision to keep the liquor shops open citing the "peculiar" situation prevailing in the state.

Kerala is in a total lockdown since Monday midnight till March 31 to check the virus spread.

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News Network
March 20,2020

New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.

"The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.

Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.

"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.

In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.

"This time, there will be no victors, only the vanquished. So every country will have to create its own post ‘virus war” marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle," Mahindra said.

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