Around the Globe

Around the Globe

There’s no intention of privatising railways

Blatant tool of shameless populism, the Indian Railways has been run into the ground by the constant pressures of coalition politics; now for the first time in 92 years, there will be no Railway Budget, as the Union Budget will subsume it. With PM Narendra Modi and the BJP deciding to cut the umbilical cord with the past in more ways than one, technocrat Suresh Prabhu came to be the Railway Minister in November 2014 replacing Sadanand Gowda.

Mulayam, son race against time to muster majority support

With all attempts at brokering peace in the ruling SP having come to naught, rival factions led by Mulayam Singh Yadav and his son Akhilesh were today racing against time to enlist support of party MPs, MLAs and delegates to prove majority before the Election Commission.

Amazon.In sees 160% growth in seller base in 2016

Global marketplace Amazon today said that the seller base on Amazon.In grew by 160 per cent in 2016 from the previous year.

In line with its vision "to transform the way India buys and sells through its innovations, technology support and seller-centric services", Amazon.In till date has attracted over 140,000 sellers (160 per cent year-on-year growth) across India to the marketplace, Amazon said in a statement here.

Sebi relaxes rules for angel funds to boost startup funding

To give a fillip to startup funding, markets regulator Sebi has relaxed its rules for investment by angel funds, including allowing them to invest in up to five-year old entities.

Besides, the lock-in requirement has been reduced from three years to one year for angel funds and their minimum investment threshold has been slashed from Rs 50 lakh to Rs 25 lakh.

Angel funds are allowed to invest in overseas venture capital undertakings up to 25 per cent of their investible corpus in line with other AIFs.

Rahul attacks PM on Sahara issue latching on to ITSC order

Latching on to an order from I-T settlement authority giving relief to Sahara Group, Rahul Gandhi today demanded an inquiry into Sahara diaries asking Prime Minister Narendra Modi why he fears such a probe.

"Immunity for Sahara or immunity for Modiji? If your conscience is clear Modiji why fear investigation?", the Congress Vice President tweeted.

Can't deny justice in over zealousness to dispose cases: HC

Courts must never deny justice to anyone in "over zealousness" to dispose cases, the Delhi High Court has said while observing that "docket explosion" of matters is a problem for the judicial system to contend with.

A bench of Justices Badar Durrez Ahmed and Ashutosh Kumar said this while setting aside a judgement passed by a single judge who had dismissed a suit filed by a petitioner seeking permanent injunction restraining infringement of trade mark allegedly by the respondent firm.

BSP first off the blocks with list for 100 UP Assembly seats

BSP today surged ahead of its rivals by declaring names of its official candidates for 100 of the 403 Assembly seats in Uttar Pradesh, giving over one third to Muslims.

Muslims account for nearly 20 per cent of the state's electorate and perhaps keeping this in mind, members of that community have been given tickets in 36 of the 100 seats spread over 20 districts declared by her today.

"List of candidates for other seats will be released soon," BSP said in a release here.

Control regime may return to sugar sector

Sugar prices in retail markets are rising on falling output, giving a fresh headache to the Centre. If prices go beyond Rs 45 a kg, the government may well ask mills to release a fixed quantity of the sweetener every month.
Mills selling a fixed quantity in open markets is the best option as of now to control prices.
“In short-term, this is the only option to control prices if sugar moves beyond a certain level,” an official said. Even if it is imposed, it will be temporary to bring down the prices, he added.

Raids cast shadow on reforms

The arrest of key Trinamool Congress leaders in the Rose Valley scam has cast its shadow on the already rocky relations between the Centre and non-BJP ruled states like Bengal.
Finance minister Aru Jaitley on Wednesday reeled off tax collection data to counter Bengal FM Amit Mitra’s charge that demonetisation has led to a drastic drop in Bengal’s tax revenues. There was evidence that the war of words between the Centre and non-BJP states are set to escalate even further.

GST sure to miss April 1 deadline

The April 1 deadline for the launch of goods and services tax (GST) appeared increasingly uncertain on Wednesday.
With the Centre and states unrelenting on their positions over right to control assessees and taxing high-sea trade in the new indirect tax regime, the government’s deadline now seemed difficult to meet.