Friday, May 6, 2016
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PM's foreign visits led to higher FDI inflow: Govt
NEW DELHI, May 4 (Agencies): Prime Minister Narendra Modi's foreign visits have yielded results in terms of increase in Foreign Direct Investment inflows and overall trade in goods, Parliament was informed today. "As a result of these (visits), the FDI inflows have witnessed a 40 per cent increase in 2015 (up to December) over the corresponding period in 2014. Moreover, India's overall trade in goods with these countries has risen by 2.3 per cent from 2013-14 to 2014-15," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha. The foreign visits undertaken by the Prime Minister have been instrumental in creating a positive momentum and boosting the bilateral relations between India and respective countries, she said. The visits have also resulted i...
Kashmir Times News Report
Supply of Rs 1,000 notes sans thread stopped: Sinha
NEW DELHI, May 3 (Agencies): The banknotes of 1,000 denomination that were printed without security thread are genuine, but defective, and issuance of all such banknotes of the series is stopped from circulation, Parliament was informed today. It's one of the RBI's regional offices that had reported on December 11, 2015, that it had received some banknotes of 1,000 denomination of some particular series without any security thread, Minister of State for Finance Jayant Sinha said today in the Rajya Sabha. "Other essential features were present in the banknotes in question. The defective notes found to be in circulation amounted to Rs 7.56 lakh only. All the bank branches/currency chests and RBI offices were immediately instructed to stop issuing all banknotes of 1,000 denomination belong...
Kashmir Times News Report
Housing demand may pick up in next six months: Knight Frank
New Delhi, May 1(Agencies): Housing demand is expected to pick up in next six months as sentiments have improved after the government announced tax incentives to the real estate sector in this year's budget, according to a survey. Industry body FICCI and property consultant Knight Frank India have jointly released a report 'Real Estate Sentiment Index' for January-March 2016 that is based on survey of key supply-side stakeholders, which include developers, private equity funds, banks and non-bank financial companies (NBFCs). "Overall, there is a considerable improvement in the sentiments for the residential sector. The number of respondents with a positive outlook for the sector has gone up in Q1 2016," "Stakeholders are quite optimistic about residential sales nearly 54 percent of the...
Kashmir Times News Report
VVIP chopper scam
Parrikar questions UPA, 'Who received kickbacks?'
DEHRADUN, Apr 30 (Agencies): Parrikar claimed that Italian court had cleared that Rs 125 crores were paid as kickbacks and had disclosed the names of the receivers too. Defence Minister Manohar Parrikar on Saturday said the previous UPA dispensation will have to answer who received the alleged kickbacks in the AgustaWestland chopper deal. "The moot question is who took the money in Agusta deal. Those who were at the helm at the time when the deal was struck owe an explanation. The Italian court has clearly said that an amount of Rs 125 crore was paid. It has even disclosed some names. The government of that day needs to answer," he said on the sidelines of foundation laying ceremony in Dehradun. "Investigations will make it clear how much in kickbacks was paid and to whom but the manne...
Kashmir Times News Report
Modi govt revises EPF interest rate again; hikes it to 8.8%
New Delhi, Apr 29(Agencies): In the third roll-back in two months, the government on Friday raised the interest rate on employee provident fund (EPF) contributions to 8.8 percent for 2015-16 against 8.7 percent approved by the Finance Ministry last week. Labour Minister Bandaru Dattatreya announced the decision to raise interest rate on a day employee unions had called nationwide protests against fixing interest rates lower than 8.8 percent decided by the retirement fund body EPFO as well as 8.75 percent paid for the previous fiscal. "I am happy that finance ministry has agreed to 8.8 percent for 2015-16," he told reporters here. This is the third rollback on EPF. Last month the government was forced to withdraw the Budget proposal to tax a certain portion of withdrawals. Subsequently,...
Kashmir Times News Report
ED wants Vijay Mallya to appear in person; seeks to recall exemption
New Delhi, Apr 29(Agencies): The ED Wednesday urged a Delhi court to recall its earlier order granting permanent exemption from personal appearance to liquor baron Vijay Mallya in a case for allegedly evading summons issued by the agency in connection with purported violation of foreign exchange rules. Chief Metropolitan Magistrate (CMM) Sumit Dass, who was hearing final arguments in the case, was told by Enforcement Directorate (ED's) prosecutor N K Matta that he would file an appropriate application in this regard within a week. The court posted the matter for further hearing on May 20. During the hearing, Matta argued that court should recall its December 2000 order by which Mallya was granted permanent exemption from personal appearance as a PMLA court in Mumbai has recently issued...
Kashmir Times News Report
VVIP chopper deal scam: ED summons ex-IAF chief SP Tyagi
NEW DELHI, Apr 29 (Agencies): Enforcement Directorate (ED) has summoned ex-IAF chief SP Tyagi in connection with money laundering probe in the Agusta Westland choppers deal. A court in Italy's Milan has recently sentenced Italian defence and aerospace major Finmeccanica's former chief Giuseppe Orsi and the former CEO of the firm Bruno Spagnolini on corruption charges in the sale of a dozen AgustaWestland helicopters to India for VVIP purposes. Apart from filing a charge sheet, the ED has also attached assets worth Rs 11 crore belonging to the cousins of Tyagi and Italian national and alleged middleman in the case Christian Michel James. The ED is expected to issue follow up requests on its earlier Letters Rogatories (LRs) to at least ten countries in connection with its money launderin...
Kashmir Times News Report
VVIP Chopper deal
Cong dares govt to come out with truth in the next two months
NEW DELHI, Apr 29 (Agencies): Taking a dig at the Modi govt, Congress leader Ghulam Nabi Azad alleged that the entire government has been tasked to target the Congress and its leadership day in and day out on the issue. Congress on Friday dared government to come out with the truth on AgustaWestland deal in next two months instead of issuing threats and launching a "malicious" campaign against it . "If government has the guts, it should come out with truth in the matter in the next two months when Monsoon session of Parliament will commence", Leader of the Opposition in the Rajya Sabha Ghulam Nabi Azad said. Making light of the attacks on the party and its leadership, he posed the question whether the Congress and the UPA and their leadership would have taken several steps to unravel t...
Kashmir Times News Report

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