Rahul may take over as Congress chief after Diwali: Sachin Pilot

Agencies
October 1, 2017

New Delhi, Oct 1: Rahul Gandhi may take over as the Congress president shortly after Diwali, Rajasthan Congress leader Sachin Pilot said on Sunday, stressing that the time had come for the party vice-president to lead from the front.

The Gandhi confidant also said the last names of leaders should not be treated as a disqualification in politics. It was the performance of a leader that ultimately decided his worth, as a surname could only take him “so far,” he said.

Mr. Pilot added that Mr. Gandhi’s elevation had been in the pipeline for long.

“Organisational elections of the Congress are underway and the new president could take over shortly after Diwali. It is something that has been in the pipeline for a long time,” Mr. Pilot said in an interview.

The Congress leader said the general sentiment in the party was that the time had come for Mr. Gandhi to take charge and lead from the front, while favouring a “balanced approach” of a mix of the young and the old in the party.

“To my mind, there is a general sentiment in the party that he should take over as the party president,” Mr. Pilot said.

He pointed out that Mr. Gandhi had been handling “a lot of work” as the vice-president, but the party believed “this [Mr. Gandhi’s elevation] should happen in due course and the time has come for it to happen.”

Asked if Mr. Gandhi’s sister Priyanka Vadra should also enter active politics, the former Minister said, “Though she belongs to the Congress party, whether she should join active politics or not is her personal decision.”

On the issue of dynastic politics and accusations that the Congress promoted dynasties, Mr. Pilot said belonging to a political family might help someone initially, but it could not guarantee progress unless backed by performance.

“Belonging to a family that has been in politics should not be treated as a disqualification,” he said.

Ultimately, he said, success depended on performance.

“If you perform and win the hearts of people through work, delivery and performance, then it will decide. The mere last name will only take you so far,” said Mr. Pilot, the son of late Union Minister and Congress heavyweight Rajesh Pilot.

He brushed aside BJP’s criticism that the Congress was promoting dynasties, pointing out that several people in that party too were from political families.

“The BJP should introspect. Many of their leaders are also from political families,” he said.

Mr. Pilot added he neither promoted nor denounced dynastic politics, but sought to stress that individual calibre would decide one’s success.

”It [family] should not be the only reason to bring someone into public life. No one can be thrust upon the public and there is no short cut to hard work,” he said.

Asked if the time had come for a generational change in the Congress and for the old to make way for the young, the Rajasthan Congress chief said, “It is not a question of making way; it is a question of working together.”

The “cut-off date” system did not work in politics, he added.

Unlike the BJP, which he claimed “humiliates” its elders, the Congress uses their wisdom and moves together, he said.

“The BJP’s margdarshak mandal has become the biggest travesty of time. We don’t humiliate elders like [they do] in the BJP. I believe we should have a good mix between the old and the new while one must keep changing,” he said.

In the Congress, he held, the new generation comes in, with the old lending their support to it.

He favoured a “balanced approach” and claimed the Congress had maintained this as part of its history and tradition.

Mr. Pilot also hit out at the BJP, saying that a particular ideology should not be thrust upon others and there should not be any hatred in politics.

“One should have competitors and not enemies in politics and we must respect that basic tenet of democracy,” he said.

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Agencies
January 11,2020

Those owning a single house in joint names would continue to file their income tax returns (ITRs) in much simpler ITR-1 (Sahaj) and ITR-4 forms (Sugam) for assessment year 2020-21 with the government issuing a clarification in this regard.

The clarification has come days after the government modified the eligibility for filing the returns in ITR-1 and ITR-4, stating that those owning a property jointly, spending Rs 2 lakh on foreign travel and paying electricity bill of Rs 1 lakh in a year would not be able to file returns in the simpler forms.

They would have to file their returns with much more detailed information in other specified forms.

Following the changes in the eligibility for filing returns in the two forms, concerns were raised over it with taxpayers claiming that it will cause huge hardship for them.

"The matter has been examined and it has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions," a Finance Ministry statement said.

"It has also been decided to allow a person, who is required to file return due to fulfilment of one or more conditions specified in the seventh proviso to section 139(1) of the Act, to file his/her return in ITR-1 Form," it added.

Tax practitioners welcomed the government’s move of going back to the previous position.

"This is a welcome clarification allowing middle class taxpayers owning a single house property to file simpler ITR forms, 1 and 4, and not the detailed ITR forms even if they own house property in joint names," said Shailesh Kumar, Director, Nangia Andersen Consulting.

It may be noted that taxpayers holding multiple house properties would have to file more detailed return forms.

In the major changes notified earlier this month by the Income-Tax department, individual taxpayers were disallowed to file return either in ITR-1 or ITR 4 if he or she was a joint-owner in house property.

In another change, those who deposited more than Rs 1 crore in bank account or spent Rs 2 lakh on foreign travel or paid Rs 1 lakh on electricity bill in a financial year were also barred from using the easy-to-fill return forms.

"By today's clarification, the government has maintained status quo. Now, the taxpayers can continue filing their returns in the same fashion in which they did last year," said Naveen Wadhwa, Deputy General Manager (DGM), Taxmann.

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News Network
March 27,2020

Mumbai, Mar 27: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Monetary Policy Committee (MPC) has taken note of the global economic activity coming to a near standstill due to the coronavirus pandemic and added that large parts of the world could slip into recession in the coming days to the coronavirus crisis.
"The MPC noted that global economic activity has come to a near stand-still as COVID-19 related lockdowns and social distancing are imposed across a widening swath of affected countries. Expectations of a shallow recovery in 2020, from 2019's decade low in global growth, have been dashed," Das said.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the world will slip into recession," he added.
The RBI Governor further added that "the implied GDP growth of 4.7 per cent in Quarter 4 of 2019-20, in the second advance estimates of the National Statistics Office which was released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk."
As per the outlook for the year 2020-21, Das said, "Apart from continuing resilience of agriculture and allied activities most other sectors of the economy will be adversely impacted by the pandemic depending upon, its intensity, spread and duration."
Das also announced a reduction in the repo and reverse repo rates for banks.
"The repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent," Das said addressing the media.
The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability." 

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News Network
February 14,2020

New Delhi/Washington, Feb 14: India has offered to partially open up its poultry and dairy markets in a bid for a limited trade deal during US President Donald Trump's first official visit to the country this month, people familiar with the protracted talks say.

India, the world's largest milk-producing nation, has traditionally restricted dairy imports to protect the livelihoods of 80 million rural households involved in the industry.

But Prime Minister Narendra Modi is trying to pull all the stops for the US President's February 24-25 visit, aimed at rebuilding bonds between the world's largest democracies.

In 2019, President Trump suspended India's special trade designation that dated back to 1970s, after PM Modi put price caps on medical devices, such as cardiac stents and knee implants, and introduced new data localization requirements and e-commerce restrictions.

President Trump's trip to India has raised hopes that he would restore some of the country's US trade preferences, in exchange for tariff reductions and other concessions.

The United States is India's second-largest trade partner after China, and bilateral goods and services trade climbed to a record $142.6 billion in 2018. The United States had a $23.2 billion goods trade deficit in 2019 with India, its 9th largest trading partner in goods.

India has offered to allow imports of US chicken legs, turkey and produce such as blueberries and cherries, government sources said, and has offered to cut tariffs on chicken legs from 100 per cent to 25 per cent. US negotiators want that tariff cut to 10 per cent. The Modi government is also offering to allow some access to India's dairy market, but with a 5 per cent tariff and quotas, the sources said. But dairy imports would need a certificate they are not derived from animals that have consumed feeds that include internal organs, blood meal or tissues of ruminants.

New Delhi has also offered to lower its 50 per cent tariffs on very large motorcycles made by Harley-Davidson, a tax that was a particular irritant for President Trump, who has labelled India the "tariff king." The change would be largely symbolic because few such motorcycles are sold in India.

President Trump will be feted in PM Modi's home state of Gujarat, then hold talks in New Delhi and attend a reception that the hosts have promised will be bigger than the one organised for former president Barack Obama in 2015.

But it is far from clear whether India's offers will be enough to satisfy US Trade Representative Robert Lighthizer, who cancelled plans for a trip to India this week. Instead, he has held telephone talks with Commerce Minister Piyush Goyal.

The US dairy industry remained sceptical on Thursday that a viable deal is at hand.

"We're always looking for market access, but in terms of India, as of today I'm not aware of any real progress going on," said Michael Dykes, president of the International Dairy Foods Association and a member of USTR's agricultural trade policy advisory committee.

Mr Dykes said the US dairy industry was looking for access in viable commercial quantities.

A USTR spokesman and India's trade ministry did not respond to requests for comment.

A parliament panel is reviewing a draft data privacy law that imposes stringent controls over cross-border data flows and gives the government powers to seek user data from companies.

It is not clear whether it will be passed, or in what form, but the possibilities have unnerved US companies and could raise compliance requirements for Google, Amazon.com Inc, and Facebook.

The draft law is not part of the trade discussions, Indian officials say, because the issue is too difficult to resolve at the same time.

"The privacy and localization piece will be raised independently and in concert with the trade discussions," said a Washington-based source with knowledge of the US administration's thinking.

President Trump on Tuesday was non-committal about sealing a trade deal before his visit. "If we can make the right deal, we'll do it," he told reporters.

Two US sources said progress had been made on proposed alterations to the medical device price caps. India's new import tariffs on medical devices, walnuts, toys, electronics and other products on February 1 surprised US negotiators, however.

The new tariffs were aimed at China, which also makes medical devices, according to an Indian government source. "We have to protect our market and our companies," the source said.

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