RSS chief pays tribute to Gauri Lankesh, Dharam Singh

Dubai, Jul 5: Three Indians, who were repatriated on a chartered flight from the UAE on Friday, have been held in the state of Rajasthan after officials seized gold worth Dh2.2million from them, the government announced on Saturday.

They are likely to be placed under arrest along with 11 others, who were repatriated from Saudi Arabia, from whom gold worth Dh5.5million was seized, a statement from the government tweeted by Press Information Bureau in Rajasthan said.

The gold bars were hidden in emergency lamps, photos attached to the tweets showed.

The 14 passengers had arrived at the Jaipur International Airport by two chartered flights.

They were intercepted by the Customs team at the airport and 31.9kg of gold valued at Rs156,759,820 (Dh7.7million) concealed in the baggage was recovered from these passengers.

Three passengers arrived from Ras Al Khaimah by Spice Jet Flight SG9055 and 12 gold bars/bricks weighing 9.3kg valued at Rs.45,761,100 (Dh2.2million) were recovered from them, the statement said.

The Indian Consulate in Dubai confirmed to Gulf News that the flight was chartered by a private company for repatriating its employees.

It is suspected that the passengers were used as carriers to smuggle gold.

The other 11 accused had arrived from Riyadh and 22.65kg of gold bars, predominantly with Suisse markings, valued at Rs110,998,720 (Dh5.5million) were recovered from them.

“The said recovered gold bars have been seized under Section 110 of the Customs Act, 1962. The said passengers are being interrogated and are likely to be placed under arrest in terms of section 104 of the Customs Act, 1962,” the statement added.

Indian media had earlier reported similar cases in which stranded Indians were apparently lured to be carriers for smuggling gold on repatriation flights from various countries.

A spike in gold smuggling attempts using Indians getting repatriated after losing jobs was also reported from the Indian state of Kerala.

Bengaluru, Jun 5: With the easing of COVID-19 lockdown norms under unlock 1.0, the Karnataka government on Thursday permitted state transport buses to operate even during the night curfew hours 9 pm to5 am.

Autos, taxis and cabs have also been given permission to operate during these hours for picking commuting passengers from pickup points or bus stands.

Chief Secretary T M Vijay Bhaskar in an order said, state transport corporations (BMTC, KSRTC, NEKRTC and NWKRTC) buses have been allowed to operate during night curfew hours from 9 pm to 5 am.

On the basis of their bus tickets, passengers would be allowed to commute to bus stand or from there to home, in accordance with the COVID-19 control measures, SOPs and other guidelines, it said.

Further, during the curfew hours autos, taxis and cabs have been given permission to pick commuters from pickup points or bus stands, it added.

Earlier, the government had revised the night curfew time from the previous 7 pm-7 am to 9 pm-5 am, and said the movement of individuals shall remain strictly prohibited between 9 pm and 5 am throughout the state, except for essential activities.

The government has also said that jungle lodges and resorts, also private organisations providing similar facilities, along with activities they provide like safari, trekking among others would be permitted from June 8, in compliance with the guidelines and SOP issued and following the social distancing norms.  

Jan 6: India’s Finance Ministry has delivered a challenge to its revenue collectors: meet tax targets despite $20 billion of corporate tax cuts.

Through a video conference on Dec. 16, officials were exhorted to meet the direct tax mop-up target of 13.4 trillion rupees ($187 billion), a government official told reporters. Collection in the eight months to November grew at 5% from a year earlier, against the desired 17%.

The missive shows Prime Minister Narendra Modi’s urgent need to buoy public finances in a slowing economy where April-November tax collections were half the amount budgeted. Authorities withheld some payments to states and have capped ministries’ expenditure as the fiscal deficit ballooned beyond the target.

The government’s efforts to maintain its deficit goal goes against advice from some quarters, including central bank Governor Shaktikanta Das, who urged more spending to spur economic growth.

It’s uncertain though how much room Modi’s administration has to boost expenditure, given that it may already be borrowing as much as 540 billion rupees through state-run companies, a figure that isn’t reflected on the federal balance sheet. Uncertainty about public finances pushed up sovereign yields in November and December, compelling Das to announce unconventional policies to keep costs in check.

“This is not a time to conceal the fiscal deficit by off-budget borrowing or deferring payments,” said Indira Rajaraman, an economist and a former member of the Reserve Bank of India’s board. “If they were to stick to the target, that would be catastrophic because there is so much pump-priming that is needed right now.”

GDP grew 4.5% in the quarter ended September, the slowest pace in more than six years as both consumption and investments cooled in Asia’s third-largest economy. Only government spending supported the expansion, piling pressure on Modi to keep stimulating.

S&P Global Ratings warned in December it may downgrade India’s sovereign ratings if economic growth doesn’t recover. Government support seems to be waning now, with ministries asked to cap spending in the final quarter of the financial year at 25% of the amount budgeted rather than 33% allowed earlier. This new rule will hamstring sectors including agriculture, aviation and coal, where not even half of annual targets have been disbursed.

As the federal government runs short of money, it’s been delaying payouts to state administrations.

Private hospitals have threatened to suspend cash-less services to government employees over non-payment of dues, while a builder informed the stock exchange about delayed rental payments from no less than the tax office itself.

India is considering a litigation-settlement plan that will allow companies to exit lingering tax disputes by paying a portion of the money demanded by the government, the Economic Times newspaper reported Saturday.

The move will help improve the ease of doing business besides unlocking a part of the almost 8 trillion rupees ($111 billion) caught up in these disputes. The step, which is being considered as part of the annual budget, could also bridge India’s fiscal gap.

Finance Minister Nirmala Sitharaman has refused to comment on the deficit goal before the official budget presentation due Feb. 1.

A deviation from target, if any, “will need to be balanced with a credible consolidation plan further-out,” said Radhika Rao, an economist at DBS Group Holdings Ltd. in Singapore.