Swamy links Sonia with chopper deal, Cong forces adjournments

April 27, 2016

New Delhi, Apr 27: Angry exchanges between opposition Congress and ruling BJP members over Subramaniam Swamy seeking to drag Sonia Gandhi's name in the controversial AgustaWestland helicopter contract bribery case led to two adjournments of the Rajya Sabha in the pre-noon session.

SwamyHowever, Gandhi's name was later expunged by Deputy Chairman P J Kurien.

Swamy had raised the issue through a zero hour notice, his first intervention since he took oath in the House yesterday, and referred to the allegations made by Christian Micheal, the middleman in the scandal, through a letter in the High Court of Italy.

The naming of Gandhi led the Congress members to angrily storm into the Well, with a handful even moving closer to the treasury benches menacingly. Members of the treasury benches too got up on their seats to counter the opposition.

Fearing an ugly showdown, a couple of marshalls too stepped into the Well to act as a wall between the opposition and the ruling side.

Before things got out of hand, Deputy Chairman P J Kurien adjourned the House for 10 minutes.

When the House reassembled, Kurien expunged Swamy's reference to Gandhi saying he should not name a member who cannot come and defend himself or herself.

"I am not admonishing you as this is your first speech in the House" after being nominated to the Upper House. "But the name is expunged," Kurien said.

This did not satisfy the Congress members who were in the Well again shouting slogans against Swamy.

Kurien said though it was Swamy's first day today after being nominated to the Rajya Sabha, "you have been member of this House before and you should know that the name of a member of the other House cannot be taken here".

As Congress members continued to raise slogans from the Well, the Deputy Chairman again adjourned the House till noon.

During the 10 minute break, Swamy was surrounded by BJP members, seemingly complimenting him for provoking an angry reaction from Congress.

Defence Minister Manohar Parrikar walked up to him and was seen exchanging notes with Swamy. HRD Minister Smriti Irani too walked up and complimented him.

Few Congress leaders including Anand Sharma and Leader of the House and Finance Minister Arun Jaitley walked into the Chairman's chamber during the break.

Just before the House reassembled, Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi took Swamy aside, apparently to give him some advice.

After the second adjournment, Jaitley took Swamy with him for a chat on the issue.

Earlier Jaitley, while responding to Leader of Opposition Ghulam Nabi Azad's question, said the reports about a meeting between Prime Minister Narendra Modi and his Italian counterpart were "false and untrue in entirety."

"No such meeting at all has been held," he said debunking a media report of Modi offering to free Italian marines in exchange of information on Gandhi family.

He said the principal issue was that there were allegation of bribe being paid to secure the defence deal. "The bribe giver has been convicted and now bribe taker has to be identified," he said adding written admission by the alleged middle man has to be examined.

"Investigation is underway," he said.

Earlier, Azad quoted media reports to ask the government if the Prime Minister had during a meeting with his Italian counterpart in September last year offered to free two Italian marines in exchange of information on Gandhi family in the controversial chopper deal.

"Pronouncement of judgment (on the chopper deal) has come and now NDA government is now allowing Italian marines to return home. So the deal is struck," he said.

Azad said the Congress-led UPA government had in 2013 cancelled the deal when wrong-doings were reported and had directed the CBI and ED to investigate corruption charges.

Also, the then Government had encashed bank guarantee and got back advance money paid. Besides, three helicopters received as part of the deal were not returned, he said.

The VVIP chopper deal relates to a 2010 decision of the UPA government to buy 12 helicopters from Italian manufacturer, Finmeccanica. But reports later said the Italian company had paid a bribe of up to Rs 3,565 crore to swing the deal.

Though the Italian company was blacklisted by UPA, it was part of Modi government's 'Make in India' drive, the Congress leader alleged.

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Fair talker
 - 
Wednesday, 27 Apr 2016

Swamy( Asamy) is receiving Wahee from the shaitan.

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News Network
February 28,2020

Feb 28: Market benchmark Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

The 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, while the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80.

All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

In the previous session, the Sensex settled 143.30 points, or 0.36 per cent, lower at 39,745.66, and the Nifty fell 45.20 points or 0.39 per cent to end at 11,633.30.

According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

Further, incessant selling by foreign investors is also spooking domestic market participants, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 4 per cent in their morning sessions.

On Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

World oil prices too tumbled by more than 4 per cent overnight as traders fretted about the impact of spreading coronavirus on crude demand, particularly from key consumer China.

Brent crude oil futures fell another 2.47 per cent to USD 50.45 per barrel early in the day.

The rupee depreciated 28 paise to 71.89 against the US dollar in morning session.

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Agencies
May 31,2020

New Delhi, May 31: The income tax department has notified forms for filing income tax returns for the financial year 2019-20.

The Central Board of Direct Taxes (CBDT) has notified Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V for the assessment year 2020-21.

The department has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the COVID-19 outbreak.

The government has extended various timelines under the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

Accordingly, the time for making investment or payments for claiming deduction under Chapter-VIA-B of IT Act that include Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim) and 80G (Donations) for the financial year 2019-20 had been extended to June 30, 2020.

ClearTax founder and CEO Archit Gupta said, "The new forms require a separate table to disclose tax saving investment made in the first quarter of 2020 for availing them in FY 2019-20. Taxpayers must assess their tax liability for FY 2019-20 and make sure they are maximising their Section 80C benefits if not already done so."

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News Network
January 14,2020

Chennai/New Delhi, Jan 14: India's annual electricity demand in 2019 grew at its slowest pace in six years with December marking a fifth straight month of decline, government data showed, amid a broader economic slowdown that led to a drop in sales of everything from cars to cookies and also to factories cutting jobs.

Electricity demand is seen as an important indicator of industrial output in the country and a sustained decline could mean a further slowdown in the economy.

India's power demand grew at 1.1% in 2019, data from the Central Electricity Authority showed, the slowest pace of growth since a 1% uptick seen in 2013. The power demand growth slowdown in 2013 was preceded by three strong years of consumption growth of 8% or more.

In December, the country's power demand fell 0.5% from the year-earlier period, representing the fifth straight month of decline, compared with a 4.3% fall in November.

But in India's western states of Maharashtra and Gujarat, two of India's most industrialised provinces, monthly demand increased.

In October, power demand had fallen 13.2% from a year earlier, its steepest monthly decline in more than 12 years, as a slowdown in Asia's third-largest economy deepened.

Industry accounts for more than two-fifths of India's annual electricity consumption, while homes account for nearly a fourth and agriculture more than a sixth.

The slower demand growth is a blow for many debt-laden power producers, who are facing financial stress and are owed over $11 billion by state-run distribution companies.

India's overall economic growth slowed to 4.5% in the July-September quarter, government data released in November showed, the weakest pace since 2013 as consumer demand and private investment fell.

The government has estimated growth in the current financial year that runs through to March will be the slowest since the 2008 global crisis.

"This reflects overall economic slowdown, because if you look at other high frequency data like diesel consumption, everywhere you are seeing contraction," Rupa Rege Nitsure, chief economist at L&T Financial Holdings.

But India's central bank will not have much scope to cut rates to stimulate the economy because inflation has been rising sharply and reached 7.35% in December compared with 1.97% in January last year.

Economists say India's growth will continue to hover around 4.5% levels in the Oct-Dec quarter.

"In the Oct-Dec quarter as well growth (GDP) will be around the same level as July-September. My estimate for the full year is around 4.7% growth," Nitsure said.

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