Irani hits back at Rahul Gandhi for tweet on Jay Shah

Agencies

October 21, 2017

New Delhi, Oct 21: Union minister Smriti Irani today hit back at Congress vice-president Rahul Gandhi for his comments referring to a court barring a news portal from publishing articles on a company owned by Amit Shah's son, saying a person "out on bail" was "mocking" the courts.

The information and broadcasting minister also said the Congress leader's attempts would not help his party win the Gujarat Assembly polls and wished Rahul Gandhi on the occasion of the Gujarati New Year.

"A person out on bail mocks the courts. Lage raho Bhai Gujarat phirbhiharoge (keep trying brother, still you will lose in Gujarat)?? Saal Mubarak (Best wishes for New Year) (sic)," she said in a tweet, referring to the Congress vice president being on bail in the National Herald case.

Earlier, apparently targeting Prime Minister Narendra Modi and the BJP, Rahul Gandhi had fired a fresh salvo over the controversy surrounding Amit Shah's son Jay Shah's company.

"Mitron (friends), will not speak about 'Shah-zada', nor will let anyone speak," he had tweeted in Hindi, referring to an interim injunction granted by an Ahmedabad court on a criminal defamation plea filed against news portal 'The Wire' by Jay Shah.

He had also tagged a news report -- "Ahmedabad Court injunction: 'The Wire' barred from writing on Jay Shah" -- along with his tweet.

Jay Shah had recently filed a criminal defamation case against The Wire after it published an article claiming that the turnover of a company run by him saw a huge rise after the BJP came to power at the Centre in 2014.

An Ahmedabad court had, on Monday, restrained the portal from publishing or broadcasting reports based on the article published by it regarding Jay Shah's firm.

Both the Congress and Rahul Gandhi have repeatedly questioned Modi's "silence" on the issue.

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Finance Minister announces Rs 3 lakh crore collateral free automatic loan for businesses

Agencies

May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

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Fully automatic loan..... not reachable to poor needy......

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India's 2020 gold demand may hit 26-year low as prices rally: WGC

Agencies

July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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With highest single-day spike of 13,586 cases, India's COVID-19 count reaches 3,80,532

News Network

June 19,2020

New Delhi, Jun 19: India on Friday added 13,586 new COVID-19 cases for the first time in a single day, pushing the tally to 3,80,532, while the death toll rose to 12,573 with 336 new fatalities, according to the Union Health Ministry data.

In some positive news, the number of recoveries crossed the two lakh-mark and stands at 2,04,710, while there are 1,63,248 total COVID-19 active cases, according to the updated official figure at 8 am.

One patient had migrated.

"Thus, around 53.79 percent patients have recovered so far," an official said.

The total number of confirmed cases include foreigners.

India registered over 10,000 cases for the eighth day in a row.

Of the 336 new deaths reported till Friday morning, 100 were in Maharashtra, 65 in Delhi, 49 in Tamil Nadu, 31 in Gujarat, 30 in Uttar Pradesh, 12 each in Karnataka and West Bengal, 10 in Rajasthan, six in Jammu and Kashmir, five in Punjab, four each in Haryana and Madhya Pradesh, three in Telangana, two in Andhra Pradesh and one each in Assam, Jharkhand and Kerala.

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