PM Modi presents 9-point agenda against fugitive economic offenders at G20 Summit

Agencies
December 1, 2018

Buenos Aires, Dec 1: Prime Minister Narendra Modi on Friday (local time) presented a nine-point programme to take action against fugitive economic offenders during his address in the second session of the ongoing G20 Summit here.

Ministry of External Affairs (MEA) Spokesperson Raveesh Kumar took to his Twitter handle to share an image of the programme that the Prime Minister presented at the G20 summit earlier today.

As part of the programme, Prime Minister Modi suggested "strong and active" cooperation among the G-20 nations. He highlighted the importance of cooperation in legal processes such as "effective freezing of the proceeds of crime; early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined", so as to "deal comprehensively and efficiently with the menace of fugitive economic offenders".

He further suggested joint efforts to be made by the G20 nations to form a mechanism that denies entry and safe havens to all fugitive economic offenders. He stressed the "effective" implementation of the principles of the United Nations Convention Against Corruption (UNCAC) and the United Nations Convention Against Transnational Organised Crime (UNOTC). The Prime Minister underscored the need to implement features related to "International Cooperation" in the two conventions.

The Prime Minister said that the Financial Action Task Force (FATF) should be called upon "to assign priority and to focus on establishing international co-operation that leads to a timely and comprehensive exchange of information between the competent authorities", adding that the FATF should be tasked to formulate a standard definition of fugitive economic offenders.

The document added that the FATF "should also develop a set of commonly agreed and standardised procedures related to identification, extradition and judicial proceedings for dealing with fugitive economic offenders to provide guidance and assistance to G-20 countries, subject to their domestic law".

The programme suggested the setting up of a common platform "for sharing experiences and best practices including successful cases of extradition, gaps in existing systems of extradition and legal assistance."The G20 forum should consider initiating work on locating properties of economic offenders who have a tax debt in the country of their residence for its recovery, the Prime Minister concluded.

Prime Minister Modi`s programme for curbing the menace of fugitive economic offenders comes amid heightened efforts by India to apprehend a number of such offenders, including liquor baron Vijay Mallya, absconding diamantaire Nirav Modi and his uncle-cum-business-partner Mehul Choksi.

The three fugitives are involved in separate scams to the tune of billions of dollars.

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News Network
January 31,2020

New Delhi, Jan 31: Slamming the BJP over the Jamia firing incident, Congress leader Priyanka Gandhi Vadra on Friday said such incidents were possible with the ruling party's leaders inciting people to shoot, and asked Prime minister Narendra Modi to answer whether he stands with violence or non-violence.   

Her attack on the government comes a day after tensions in the Jamia area spiralled on Thursday after a man fired a pistol at a group of anti-CAA protesters, injuring a student, before walking away while waving the firearm above his head and shouting "Yeh lo aazadi" amid heavy police presence in the area.

"When the BJP government ministers and party leaders incite people to shoot, give provocative speeches, then all this becomes possible. The Prime Minister should answer what kind of a Delhi he wants to build?" Priyanka Gandhi said in a tweet in Hindi.

Does the PM stand with violence or non-violence, she asked.

"Does he stand with development or with anarchy?" the Congress general secretary said.

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News Network
June 5,2020

New Delhi, Jun 5: India registered its highest spike in COVID-19 cases with 9,851 more cases and 273 deaths reported in the last 24 hours. The total number of cases in India reached 2,26,770 including 1,10,960 active cases, said the Union Ministry of Health and Family Welfare.

The Ministry informed that 1,09,462 persons have been cured/discharged/migrated while 6,348 people have succumbed to the disease so far.

Maharashtra has so far reported 77,793 cases, more than any other state in the country, while the total number of active cases in the state stands at 41,402.

In Tamil Nadu, 27,256 cases have been detected so far while Delhi has reported 25,004 coronavirus cases.

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News Network
January 1,2020

New Delhi, Jan 1: In the backdrop of huge losses borne by airlines, Aviation Minister Hardeep Singh Puri has said the government is concerned that more airlines will shut down if predatory pricing continues. "Some predatory pricing is taking place" in airfares, the minister told reporters on Tuesday. Mr Puri however ruled out any plan by the government to regulate airfares. The remarks come amid high competition in the country's aviation sector, struggling against high fuel prices and other operating costs.

"The interesting thing that we have observed is that on Delhi-Mumbai route 20 years ago, the average fare was Rs 5,100. Today, the average fare is Rs 4,600. Some predatory pricing is taking place. It means people are selling tickets below their cost," he said.

"One of our concerns is that if there is predatory pricing, then the airlines will stop functioning. This is not Air India's problem only. Jet Airways got shut down. Before that, it was Kingfisher airline," he said.

IndiGo and SpiceJet - two of the country's biggest airlines - reported losses of Rs 1,062 crore and Rs 463 crore respectively in the second quarter of 2019-20. Other airlines have also reported losses in the quarter that ended on September 30, 2019.

Asked if predatory pricing is the reason for the ill health of the airlines, the minister said, "No, there are many reasons... Predatory pricing is one of the factors. But the profitability of an airline is dependent on (a) number of things."

Asked if the trend of predatory pricing has come down after regular discussion with the airlines, he said, "Yes, absolutely."

"It is (a) constant battle. An ideal situation from an airline's point of view is that they grow and they are also able to charge more fares. What fares they charge is their business. Our advice to them is to charge realistic fares," he added. "It should not be too high. And it is not in your business interests if you are imposing predatory fares."

The minister also said that the government is not planning to regulate fares. "No regulation. It has to be done within deregulation system.... If I put a cap on fare, the airline will start charging that cap only... that cap will become the normal fare... So, within a deregulated structure, we have to bring about an equilibrium," the minister said.

"Government, periodically, at my level or at secretary''s level, we sit down with the main aircraft operators and tell them it is in your interest not to allow such practices which undermine the civil aviation sector."

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