Rupee near all-time low, tumbles 28 paise to 68.84
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Charlie Hebdo to launch German edition
The French magazine will print 200,000 copies in German next week to recognise the support it received after the 2015 attacks that killed its Paris editorial staff.
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Malware can turn your laptop into an eavesdropping device
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The Purani Haveli’s long held secrets
Congress initiates candidate selection process for Punjab polls
The Congress
on Wednesday initiated the process for selection of candidates for the upcoming
Punjab elections with the Central Screening Committee holding discussions with
the party’s state unit chief Amarinder Singh.
Top
Congress leaders in the state, including the party’s in charge of Punjab
affairs Asha Kumari, sat with committee chairman Ashok Gehlot and screened the
candidates for the upcoming assembly election.
Assembly
polls in Punjab are slated early next year and Congress is making desperate
attempts to get back to power after remaining in political wilderness in the
state for 10 years.
Congress
lost two successive elections to the ruling Akali-BJP combine in 2007 and 2012.
Sources
said Amarinder held discussions with Gehlot and other leaders on candidates for
various seats and will recommend names to the Central Election Committee soon.
Making a case for demonetisation
The legitimacy of demonetisation of high denomination bank notes is being questioned in legal and political circles. The Madras High Court dismissed a petition and observed that demonetisation was good for India. The PILs filed in the Karnataka High Court and Bombay High Court were too dismissed on similar grounds. While the Supreme Court refused to stay the government order, it asked the Centre to file a reply without formally issuing notice on the steps government had taken to reduce the trauma of common people. The decision of High Courts and the Supreme Court have been questioned for taking a hands-off approach when it comes to matters of economic and fiscal policy.
It is argued that the political executive, owing to the degeneration of the electoral process, normally acts out of political and electoral compulsions, and for that reason it may not act justly and independently. However, if the provision is made by the legislature, it will not only provide an opportunity for debate where several shades of opinion are represented but a balanced and unbiased decision free from the allurements of electoral gains is more likely to emerge.
It is pertinent to record at this juncture that demonetisation by law was done in 1978 by the High Denomination Bank Notes (Demonetisation) Act, 1978. The constitutional validity of this Act was challenged in Jayantilal Ratanchad Shah v. Reserve Bank of India on grounds that it was violation of the right to carry out trade and commerce and it amounted to a compulsory acquisition of property without compensation by the Government.
The Constitution bench of the Supreme Court while rejecting these contentions held that demonetisation law was in the larger public interest. Control of the problem of “unaccounted money” in any way does not amount to a violation of the right of the petitioners.
Section 26, sub-section (2) of the Reserve Bank of India Act, empowers the Union Government on the recommendation of Central Board to declare that “any notes issued by the Reserve Bank will no longer be legal tender.” The Union government on 8 November in exercise of this power passed the order demonetising Rs. 500 and Rs. 1000 currency notes. The decision was taken principally to curb the grave menace of unaccounted money which had resulted not only in affecting seriously the economy of the country but had also deprived the exchequer of vast amounts of its revenue.
Legislation on this issue may be ideal but under these circumstances the courts are not to see what is ideal or desirable but what is legal and constitutional. To what extent can the court intervene if an economic policy or measure directly impacts the fundamental rights of citizens?
The Supreme court in Balco Employees’ Union (Regd.) vs. Union of India and Ors. 2002(2) SCC 333 observed (vide paragraph 92 and 93): “In a democracy, it is the prerogative of each elected Government to follow its own policy. Often a change in Government may result in the shift in focus or change in economic policies. Any such change may result in adversely affecting some vested interests. Unless any illegality is committed in the execution of the policy or the same is contrary to law or mala fide, a decision bringing about change cannot per se be interfered with by the court. Wisdom and advisability of economic policies are ordinarily not amenable to judicial review unless it can be demonstrated that the policy is contrary to any statutory provision or the Constitution. In other words, it is not for the courts to consider relative merits of different economic policies and consider whether a wiser or better one can be evolved.”
In catena of other cases ( Peerless General Finance and Investment Co. Ltd. v. RBI, (1992) 2 SCC 343; Pallavi Refactories v. Singareni Collieries Co. Ltd., (2005) 2 SCC 227) the court has dithered about indulging itself in the executive and the legislative domains. Thus, unless policy is clearly illegal or unconstitutional, the courts should not intervene. In a democracy, the Government is constituted by chosen representatives of the people. It is for them to determine what measures should be taken or not taken to advance the welfare of the people. If the Government in its wisdom has concluded that demonetisation tends to the welfare of the State, as it prima facie appears to be, then it is not for the Courts of law to sit in judgment upon that decision. Considering the degree of evil the alleged executive action sought to remedy, it cannot be said that it is not taken for a public purpose. A decision taken in the larger public interest cannot be arbitrary.
The contention regarding violation of freedom of trade and commerce as stipulated under Article 19(1)(g) will also be a misconceived argument for the precise reason that this freedom unlike others under Article 19 is subject to complete restrictions in the interest of larger public. Another possible contention that “No person can be deprived of his property except by authority of law” may not be entertained because there is no deprivation of property. Accounted money of all the citizens will remain intact. Citizens may only be deprived of their unaccounted money because it is not legally acquired and that appears to be fair enough.
Demonetisation by an enactment would have facilitated corrupt politicians, public and private servicemen, lawyers, doctors, businessmen, traders, temples, mosques, akhadas, Trusts, Societies, private universities, private schools and others involved in unaccounted money with sufficient time to deal with it. No one would deny the possibility of backdoor arrangements this time too but they would be fewer.
Nevertheless, the sudden ban on high denomination notes has for the first time shaken the underground economy. For the first time, honesty as a virtue has got a sense of satisfaction. Are honest (real or forced) tax-payers not entitled to this minimum return of mental serenity? To keep honesty alive and encourage tax-payers to keep on paying taxes, government needs to give such treatment at regular and planned intervals.
The writer is Associate Professor of Law at NLU Odisha and currently on deputation as Deputy Registrar, Supreme Court of India.
Relentless persecution
The irony is cruel. The persecution
of the Rohingyas has intensified in Myanmar with the change of guard — from
the junta to a democratic dispensation under Aung San Suu Kyi. The democratic
world had expected quite the contrary, if not a distinct measure of improvement
in the condition of the stateless minorities of Rakhine province — a wandering
group near the Bangladesh border… floundering in search of a home. The latest
offensive by the Myanmarese military is strangely of a piece with Suu Kyi’s
silence on the issue ahead of the momentous transition early this year. No less
deafening must be her muted response at this juncture.
Now that she is in power, though
not as President, there can be no compelling reason to almost tacitly condone
the offensive.The plot thickens as satellite images have revealed the
destruction of no fewer than 820 homes in the three weeks of this month. In the
net, the Rohingyas have been displaced further still in course of what has been
packaged as “counter-insurgency operation”.
We do not know what the provocation
for the latest onslaught was. Yet we do know that Human Rights Watch has called
for the UN’s intervention, asserting
that “these alarming new satellite images confirm that the destruction
in Rohingya villages is far greater than what the government has admitted”.
Human rights is at stake as must be
the purportedly democratic government’s credibility. The withers of the Suu Kyi
administration in Naypidaw remain unwrung. Far from coming to the rescue of the
minorities, the government has acknowledged that helicopter gunships were used
in support of ground troops in the military operations. The civil
administration must have been privy to the army’s action, indeed an offensive
that has made a travesty of the democratic engagement.
Thus far, the government and GHQ
have advanced only an unsubstantiated charge — that nine police officers were
killed by “unidentified assailants” on the Bangladesh border. On closer
reflection, the junta doesn’t play the second fiddle in the overall construct
and it will be painful for the democratic bloc, not least India, to reflect
that the post-transition government has been thoroughly insensitive to the
stepped-up persecution. Its silence runs parallel to the military offensive.
It becomes direly imperative for
Myanmar to stop the offensive and no less crucially to grant citizenship to the
Rohingyas, who have lived in Rakhine for generations. Persecution is the thread
that binds the generations, and the democratic change of guard has done but little
to assuage the suffering of the stateless.
Actually, however, there has been a
palpable worsening of the human rights situation. And this must be contextualised with the caveat of
Human Rights Watch — “The government should simply look at the facts and take
action to protect all people in Myanmar, whatever their religion or ethnicity”.
—Editorial
Mistry does U-turn on Corus, TCS as Tata veterans trash claims
Springing to the defence of Ratan Tata, two retired group
veterans – FC Kohli and B Muthuraman – on Wednesday rubbished as
“frivolous and incorrect” Cyrus Mistry’s charges that the patriarch
wanted to sell TCS and his ego had inflated Corus acquisition cost, leading to
the ousted group chairman partially retracting his remarks.
Mistry said he never stated that Tatas were wanting to sell TCS to IBM or
any other company.
Within hours of the two coming out with strongly worded comments, Mistry
said his statement of Tuesday was based on “information from sources who
were close to JRD Tata who informed him that it was Ratan Tata’s intention, and
not the group’s intention, to sell TCS”.
While Kohli, the first chief executive of Tata Consultancy Services, said
at no point did the Tata Group consider selling the crown jewel to IBM,
Muthuraman said the USD 12 billion Corus acquisition was a well thought out
decision and the price paid was only 50 million pounds higher than the next
bidder.
In a late evening statement issued by his office, Mistry said he did not
“say that the ultimate decision was not unanimous, but there were
differences and reservations significantly, the fact that Corus was available
for purchase at half the price in the recent past is undisputed”.
A day after Mistry had claimed that Ratan Tata’s “ego” led to
“overpayment” for Corus, which was available for half the price a
year before the deal, Tata Steel too came out with a strongly worded statement
saying the acquisition was extensively deliberated and approved by the company
board.
Debunking Mistry’s claims that Ratan Tata had pitched for sale of TCS to
IBM when he was heading the joint venture between the two firms, Kohli said the
ousted chairman does not offer any timelines.
He said he had suffered a heart attack, claimed by Mistry, in 1984,
whereas the Tata IBM joint venture was set up much later in 1991-92.
“Mistry’s comments regarding the sale of TCS to IBM at some
‘unspecified point in time’ are not correct,” said Kohli, widely
considered as father of Indian IT industry. “At no point at that time was
there ever an intention of the Tata Group to sell TCS to IBM,” he said in
a statement.
Muthuraman, who was the head of Tata Steel when the acquisition was made
in early 2007, rubbished the Mistry’s remarks of overpayment as “frivolous
and unconsidered comments”, saying he was surprised and very sad at
“the speculative and biased views”.
In a statement, he said: “The long term strategy of Tata Steel was
well thought out after a lot of deliberation to grow the company through
capacity expansion in India and internationally through inorganic growth.
“The overseas growth strategy was also to focus on accessing new
markets through acquisitions, enhance the technology capability of the company
and develop high end premium products.” .
Sri Lanka beat West Indies by one run in ODI
The victory ensured Sri Lanka’s passage to Sunday’s final, while the West Indies must avoid defeat in their final group game against hosts Zimbabwe on Friday if they are to progress.
(Photo: AFP)
West Indian batsman Evin Lewis hit his maiden one-day
international hundred but his efforts went in vain as Sri Lanka held their
nerve to secure a one-run victory at Queens Sports Club on Wednesday and advance to
the triangular series final.
Playing just his fourth ODI, Lewis struck a superb 148 but a
series of run-outs ultimately hurt the West Indies as they finished on 329 for
nine in response to Sri Lanka’s 330 for seven.
Sri Lanka’s total was set up by Niroshan Dickwella and Kusal
Mendis, who both scored 94 after the West Indies had won the toss and opted to
bowl first.
The victory ensured Sri Lanka’s passage to Sunday’s final,
while the West Indies must avoid defeat in their final group game against hosts
Zimbabwe on Friday if they are to progress.
Brief scores
Sri Lanka: 330/7 off 50 overs (Dickwella 94, Mendis 94, de
Silva 58; Holder 3-57)
West Indies: 329/9 off 50 overs (Lewis 148, Holder 45 not
out; Kulasekara 2-73, Lakmal 2-67).
‘India will be powerful economy if Swachh Bharat Mission succeeds’
President Pranab Mukherjee has said if the Swachh
Bharat programme is implemented successfully, India can become a “powerful
modern economy”.
“If the innovative government programs like
Swachh Bharat Mission and Digital India are implemented successfully, then
India will definitely become a powerful modern economy,” the Swachh Bharat
Mission tweeted quoting the President.
The Ministry for Drinking Water and Sanitation,
which is the nodal ministry for implementation of the programme, has been
organising Swachh Bharat pakhwada in various government departments.
Swachh Bharat Mission was officially launched on
October 2, 2014 by Prime Minister Narendra Modi with an aim to eradicate open
defecation by 2019.
The programme is divided into two categories — Swachh
Bharat Mission (Gramin) and Swachh Bharat Mission (Urban).
In the rural areas, the scheme requires engagement
with community and facilitation — both of which are picking up slowly.
Rural areas facing difficulty : Odisha govt
Demonetisation has hit the rural populace in Odisha, its government told the central team here to review the scenario in the state post the announcement.
(Photo: AFP)
Demonetisation has hit the rural populace in Odisha, its
government told the central team here to review the scenario in the state post
the announcement.
“The central team discussed the problems faced by the
people in Odisha. We have told them that though situation has improved a little
in towns, but the people in rural pockets continue to suffer,” special
secretary to the finance department A K Meena told reporters after the meeting.
The government requested the team, which deliberated on
strategies to address problems faced by the people post- demonetisation, and
RBI to supply more currency notes of lower denominations like Rs 100 and Rs
500.
Appreciating steps taken by the state government in handling
the situation, the team assured that it would inform the Centre about the
difficulties faced by it.
“The demonetisation has been welcomed by all though
some difficulties exist. The state government has taken very good steps to
remove these difficulties. Specially distribution of old age pension amounting
to Rs 140 crore on November 15 is worth praising,” said Suresh Kumar
Vashisth, the joint secretary to the food and public distribution department.
The state government also suggested the Central team to
ensure easy payments to farmers through cooperative societies and Primary
Agriculture Committees during paddy procurement.
Besides Vasisth, Director of Urban Development Saurabh Jain,
Reserve Bank of India officials, other bank officials and state government officials
attended the meeting.
The central team leader Ashok Dalwai, who is the additional
secretary in the union ministry of agriculture and farmers welfare, said it
will visit Berhampur, Jajpur and other places to take stock of the situation.
Sindhu, Saina advance to second round at Hong Kong Open
PV Sindhu, Saina Nehwal, Ajay Jayaram and HS Prannoy entered the second round of the $350,000 Hong Kong Open Superseries.
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Demonetisation: Another jolt for Modi Govt in SC
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Veteran cricket administrator Samir Dasgupta passes away
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GST Council meeting rescheduled for December 2-3
The meet was earlier scheduled to be held on November 25.
The GST Council meeting, which would discuss the crucial
issue of dual control or who will exercise control over GST assessees — the
Centre or the states — has been rescheduled for December 2-3, an official
said.
The meet was earlier scheduled to be held on November
25.
“The states desired some more time to internally
deliberate on revised draft of the laws within their respective state(s).
Therefore, the GST Council meeting scheduled for November 25, 2016, has been
rescheduled on December 2-3, 2016,” the Finance Ministry said in a
statement.
Meanwhile, another meeting of the Law Sub-Committee
comprising of the officers of the states and the Centre has now been scheduled
for November 25 in the national capital to finalise the draft GST
related laws before these are placed before the GST Council.
“After finalisation of the draft GST related laws in
the meeting of officers on November 25, the same will be placed before the
GST Council,” the Finance Ministry said in a tweet.
Four draft bills — Central GST, State GST, Integrated GST
and state compensation matter for revenue losses — will have to be passed by
Parliament and state assemblies after the council approves them.
The consensus on the issue of dual empowerment remains
crucial as the government intends to place the GST bills in the ongoing winter
session of Parliament so as to implement the new indirect tax regime from April
1, 2017.
Sources in the Finance Ministry said that the government was
looking at bringing these as financial bills before Parliament, but if any
issue crops up, then it may even place them as money bills.
Nepal constitution to address Madhesi issues
An understanding was reached during a joint meeting here of the ruling alliance and the agitating Madeshi Morcha or the United Madhesi Democratic Front (UMDF).
Representational image (Photo: Getty Images)





























