Cabinet clears proxy vote proposal for NRIs; to be placed before Parliament

News Network
August 3, 2017

New Delhi, Aug 3: The Union Cabinet has cleared a proposal to extend proxy voting to overseas Indians by amending electoral laws. If the proposal passes political muster in Parliament, NRIs will be able to exercise their voting rights through “proxy”.

For overseas Indians, the Representation of the People Act needs to be amended to include proxy voting as other means to cast their votes.

While NRIs and overseas Indians are free to cast their votes in constituencies where they are registered, according to the proposal, they would also be allowed to use the option of proxy, which as of now is only available to service personnel.

An expert committee in the Election Commission working on the issue had, in 2015, forwarded the legal framework to the law ministry to amend electoral laws to allow overseas Indians use proxy voting.

Data shows that only 10,000 to 12,000 NRIs have voted because they do not want to spend foreign currency to come to India and exercise their franchise. 

Restrictions

The proxy voting facility for NRIs will not be the same as that enjoyed by service personnel. For instance, voters in the armed forces can nominate their relatives as permanent proxy to vote on their behalf. But the Union Cabinet’s approval for proxy voting by NRIs carries a caveat: they cannot nominate one proxy for all polls.

Overseas electors will have to appoint a nominee afresh for each election — one person can act as proxy for only one overseas voter. With the Cabinet’s approval, sources said, suitable rules and guidelines will be framed to make this move effective soon. Currently, voters residing abroad can only cast their votes in their respective constituencies. This regulation is seen as restrictive as only a few thousand Indians living overseas have registered as voters, the maximum being from Kerala. Of these, barely anyone has travelled to the country to exercise his or her franchise.

The government was earlier considering granting them postal voting rights similar to voters in the armed forces, who can receive ballot papers electronically and print them. Service voters mark their preference on ballot printouts and send them through post after verification by station officers for counting. However, the government felt this procedure will be too cumbersome to implement in case of NRIs who live all over the world — a team of Ministers were constituted to discuss this aspect, and a final decision is awaited.

According to rough estimates, there are about 1 crore Indians settled abroad, of which 60 lakh could be of eligible voting age. They could hold considerable sway in election results, especially in states such as Punjab, Gujarat and Kerala, where a number of expats hail from. The move to grant proxy voting rights to overseas electors is significant against the backdrop of BJP’s claims of enjoying huge goodwill among NRIs. The party sought to deepen its electoral appeal among them through Prime Minister Narendra Modi’s public outreach programmes during his foreign visits after coming to power in 2014.

The proposal to permit NRI voters to cast their vote from overseas was taken up seriously by the election commission in 2014 after it received several requests regarding this matter, including one from Rajya Sabha MP and industrialist Naveen Jindal and the Ministry of Overseas Affairs.

Interestingly, during the election commission’s consultations with political parties on proxy voting for NRIs, BSP, CPI and Congress did not support the idea while the BJP was in favour of it. BSP, CPI and Congress felt that there was no guarantee that the proxy voter will vote as per the wishes of the actual elector. The parties also argued that the plan suffers from the problem of “trust deficiency” and violates the principle of “secret ballot”.

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News Network
June 16,2020

New Delhi, Jun 16: Jet fuel or ATF price on Tuesday was hiked by 16.3 per cent while petrol price was increased by 47 paise per litre and that of diesel by a record 93 paise on the back of firming international oil rates.

Aviation turbine fuel (ATF) price was hiked by ₹5,494.5 per kilolitre (kl), or 16.3 per cent, to ₹39,069.87 per kl in the national capital, according to a price notification by state-owned oil marketing companies.

This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (₹12,126.75 per kl) on June 1.

Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.

Petrol price in Delhi was hiked to ₹76.73 per litre from ₹76.26, while diesel rates were increased to ₹75.19 a litre from ₹74.26, the price notification said.

In 10 hikes, petrol price has gone up by ₹5.47 per litre and diesel by Rs 5.8 a litre.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

The hike in diesel rates is the highest daily increase since the state-owned fuel retailers started daily revision in rates in May 2017.

Hike for 10th consecutive day

Tuesday’s increase in petrol and diesel price marks the 10th straight day of rise in rates since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) instead of passing on the excise duty hikes to customers adjusted them against the fall in the retail rates that was warranted because of fall in international oil prices.

The June 1 hike in jet fuel price had come after seven consecutive reductions in rates since February. ATF price in Delhi before the reduction cycle began in February was ₹64,323.76 per kilolitre, which got reduced to ₹21,448.62 last month.

Industry officials said the hike was necessitated because benchmark international rates have bounced back from a two-decade low.

While ATF prices are revised on 1st and 16th of every month, petrol and diesel prices are revised on a daily basis.

Oil companies used to revise ATF prices on the first of every month, but adopted fortnightly revisions on March 21 to pass on the benefit of falling international oil prices to airlines.

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News Network
January 10,2020

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

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News Network
July 11,2020

Geneva, Jul 11: The World Health Organization said Friday that it is still possible to bring coronavirus outbreaks under control, even though case numbers have more than doubled in the past six weeks.

WHO chief Tedros Adhanom Ghebreyesus said the examples of Italy, Spain, South Korea and India's biggest slum showed that however bad a outbreak was, the virus could still be reined in through aggressive action.

"In the last six weeks cases have more than doubled," Tedros told a virtual press conference in Geneva.

However, "there are many examples from around the world that have shown that even if the outbreak is very intense, it can still be brought back under control," said Tedros.

"And some of these examples are Italy, Spain and South Korea, and even in Dharavi -- a densely packed area in the megacity of Mumbai -- a strong focus on community engagement and the basics of testing, tracing, isolating and treating all those that are sick is key to breaking the chains of transmission and suppressing the virus."

The novel coronavirus has killed at least 555,000 people worldwide since the outbreak emerged in China last December, according to a tally from official sources compiled by AFP on Friday.

Nearly 12.3 million cases have been registered in 196 countries and territories.

"Across all walks of life, we are all being tested to the limit," Tedros said, "from countries where there is exponential growth, to places that are loosening restrictions and now starting to see cases rise.

"Only aggressive action combined with national unity and global solidarity can turn this pandemic around."

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