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Hello Jammu News at 11:28:00 AM 0


United Nations, Oct 16 (PTI) India attracted USD 22 billion of FDI flows in the first half of 2018, according to a UN report which states that the global foreign direct investment dropped by 41 per cent in the same period due to tax reforms carried out by the Trump administration.

The UN Conference on Trade and Development (UNCTAD) said on Monday in its 'Investment Trends Monitor' report that in South Asia, India attracted USD 22 billion of FDI (foreign direct investment) flows, contributing to the subregion's 13 per cent rise in FDI in the first half of the year.

The report, however, said that with the USD 22 billion FDI, India just about managed to make it to the top 10 host economies receiving the most FDI during the period.

China was the largest recipient of FDI, attracting an estimated USD 70 billion in inflows in the first half of the year, followed by the UK with USD 65.5 billion, the US with USD 46.5 billion, The Netherlands at USD 44.8 billion, Australia with USD 36.1 billion, Singapore got USD 34.7 billion and Brazil received USD 25.5 billion, it said.

Global foreign direct investment fell by 41 per cent in the first half of 2018, to an estimated USD 470 billion from USD 794 billion in the same period of 2017, mainly due to large repatriations by the US parent companies of accumulated foreign earnings from their affiliates aboard following tax reforms, the report said.

Overall, the global financial picture is "gloomy", said James Zhan, UNCTAD's Director, Division on Investment and Enterprise.

The decline in global FDI is mainly owing to recent tax reforms implemented by US President Donald Trump's administration that led to big firms in the US to bring home earnings from abroad principally from Western European countries.

Other factors have contributed to this year's "huge difference in repatriation" of overseas profits by US multinationals, Zhan said.

These include uncertainty about the detail and impact of tax reform and the potential impact of unresolved international trade disputes; such as the tit-for-tat tariffs imposed by the US and China, Zhan added.

In contrast to the overall decline in foreign investment, the report highlights a 42 per cent increase in so-called "greenfield" projects to USD 454 billion.

These initiatives can involve building operations in a foreign country from scratch and they are seen an indicator of future trends, Zhan said, adding that investment in this sector had been at "relatively low levels" in the same period last year.

The report noted that while the fall in foreign direct investment had happened mainly in richer nations, including Ireland (down USD 81 billion) and Switzerland (down USD 77 billion), developing economies saw FDI flows declining "only slightly" in the first half of the year by four per cent to USD 310 billion compared with 2017.

This includes developing Asia - down four per cent - to USD 220 billion - in the same period, driven mostly by a 16 per cent decline in investment in East Asia.

Latin America and the Caribbean saw a six per cent drop in investment, amid uncertainty over upcoming elections that were offset by higher commodity prices, the report said.

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Hello Jammu News at 1:16:00 PM 0

Washington, Aug 8: India is a source of growth for the global economy for the next few decades and it could be what China was for the world economy, the IMF said today, as it suggested the country to take steps towards more structural reforms.

"India now contributes, in purchasing power parity measures, 15 per cent of the growth in the global economy, which is substantial," Ranil Salgado, International Monetary Fund's mission chief for India, told. This is next to only China and the US, he said.

Salgado said spillovers from India are not that big because it is not a very open economy.

"But of total global growth in Purchasing power parity (PPP) terms, it's 15 per cent of total global growth. Trading is not as high as China trade levels," Salgado said as the IMF Executive Board released the report of its annual consultations with India.

He said the IMF views India as a "long run source of global growth".

"India has three decades before it hits the point where the working age population starts to decline. So that's a long time. This is India's window of opportunity in Asia. It's somewhat only a few other Asian countries have this," he said.

"For the (next) three decades, it (India) is a source of growth for the global economy and could be even longer. But three decades where India can be almost what China was for the world economy for a while," Salgado said.

In its report, the IMF Executive Board has forecast India's growth to rise to 7.3 per cent in FY2018/19 and 7.5 per cent in FY2019/20, on strengthening investment and robust private consumption.

"The Indian economy is recovering from the two shocks that started from late 2016: demonetisation and then the kind of implementation issues related to the GST. We see growth recovering. Generally, India is benefiting from good macroeconomic policies; stability-oriented policies as well as some important reforms that have been done in recent years," he said.

Although there are short term issues, the IMF views that as a long-term major gain for India by implementing a national GST.

"It's something that's difficult to do. Other countries have struggled. In India it's much more complex because you have a 29 states and union territories and you need agreement. I think that that was a great achievement," he said.

Insolvency and the bankruptcy code is the other big achievement, he said. "We are seeing certain positive steps there and we hope that can continue," he said.

"The third (big achievement) from an economist's point of view is the inflation targeting framework that you now have in the Reserve Bank of India, formally adopted in 2016 but informally even earlier. We have seen the benefits of that have lower inflation and inflation expectations," he said.

And then there are some of the key smaller steps like things to improve the business climate, steps to further liberalised FDI.

"In the near term, it's just to make sure that effective implementation of those are ongoing. If you think of the insolvency and bankruptcy code, it's a difficult change. Basically, the underlying system to resolve bad assets from the corporate sector side is something new. It takes time and experience has to be gained. And we're seeing some of the hitches along the way there, but generally things seem to be moving in the right direction," the senior IMF official said.

Noting that the government is taking steps to "streamline and simplify" the GST, he said the IMF believes that this is important. "Overall we're seeing efforts to improve the balance sheet of banks as well as corporate sector. In our view, these are all important things that need to continue," he said.

Salgado said that for India, things are relatively positive. "India has a young population. It has the potential for a demographic dividend of the next three decades," he said but quickly cautioned that demographic dividend is not automatic.

"It takes good policies to create jobs, to create even stronger economic growth. Seven to eight per cent growth is very good. It's one of the best in the world. But for India, which is appropriately aspiring to quickly catch up with the richer advanced countries, you need even stronger growth," he said in response to a question.

"So if you think about China, China had double digit growth for many years and that's how we quickly caught out and that's something we should aspire to as well. Because if that doesn't occur, there is the risk that India could grow old before it becomes rich," he said, noting that the IMF is now suggesting India to take steps towards structural reforms.

"The second message we are saying that steps to structural reforms have to continue and, in some ways, have to even take a step further up," he said identifying labour reforms, improving the business climate, and enhancing infrastructure as key areas for continued reforms.

And finally it is importantly to finish the cleanup of bank and corporate sector balance sheets, he said. (PTI)
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Hello Jammu News at 5:23:00 PM 0

Mumbai, Aug 1: The Reserve Bank today retained the GDP forecast for the current fiscal at 7.4 per cent on robust corporate earnings and buoyant rural demand, though it flagged global trade tensions for Indian exports.

In the third bi-monthly monetary policy statement for 2018-19, RBI said various indicators suggest that economic activity has continued to be strong.

The statement issued after three-day meeting of the Monetary Policy Committee (MPC) noted that the progress of the monsoon so far and a sharper than the usual increase in MSPs of kharif crops are expected to boost rural demand by raising farmers' income.

"Robust corporate earnings, especially of fast moving consumer goods (FMCG) companies, also reflect buoyant rural demand," the central bank said, adding that investment activity remains firm even as there has been some tightening of financing conditions in the recent period.

Based on an overall assessment, the Reserve Bank of India said that the Gross Domestic Product (GDP) growth projection for 2018-19 is retained, as in the June statement, at 7.4 per cent.

As per the RBI, the growth would be in the range of 7.5-7.6 per cent in first half of the fiscal and 7.3-7.4 per cent in October-March 2018-19 period "with risks evenly balanced".

The central has also projected the GDP growth for first quarter of the next financial year at 2019-20 at 7.5 per cent.

The monetary policy statement further said that increased FDI flows in recent months and continued buoyant domestic capital market conditions bode well for investment activity.

The central bank said that activity in the manufacturing sector is expected to remain robust in Q2, though there may be some moderation in pace.

Rising trade tensions may, however, have an adverse impact on India's exports. (PTI)
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Hello Jammu News at 4:31:00 PM 0


New Delhi, Mar 29: TeamLease Services, one of India’s leading human resource service companies in the organised segment and a Fortune India 500 company has said that with 10 regulatory reforms sales domain has the potential to create around 700,000 jobs in Delhi/NCR and 10 million across the country. 
Talking to media persons on Thursday, Mayur Saraswat, Head of North Business, TeamLease Services said, “The city is going through an exciting phase with most of the sectors experiencing growth prospectus. The fact the employers here pay at least 30 per cent premium over other cities to sales professionals makes it a favored choice for job seekers.”
He said that the ability of companies to take advantage of this opportunity will depend on their capability to sell more, sell better and sell faster which in turn will stimulate the demand and make sales the inevitable and most potent profile.
According to him, the necessary regulatory reforms include consolidation of 44 central labour laws into 4 labour codes, Unique Enterprise Number (UEN), employee salary choice, PPC compliance portal, the Factories Amendment Bill 2016, Small Factories Act, amendments in contract Labour and Regulation Act 1970, amendments in Industrial Disputes Act 1947, amendments in Trade Union Act 1926 and the adoption of the Model Shops and Establishment Act. Without any reforms, the region is still expected to create at least 175,000 new sales jobs in the next 3 years.
He said that according to TeamLease analysis, while manufacturing accounted for the bulk of jobs created in some of the developed countries, India’s transition from farm-to-non-farm jobs will be spearheaded by the sales domain.
Further, from an overall hiring perspective also the city seems to be on a growth trajectory. In the coming fiscal the city will see a 17 per cent growth in the hiring outlook. Interestingly, 32 per cent of job seekers consider Delhi to be the best place to start their careers.
An in-depth study, according to the analysis, currently, Delhi employs 343,000 sales professionals across sectors, this amounts to 33 per cent of the overall 1.5 million sales profiles in the country. But with a combination of macro-economic, strategic and technological factors like GST, FDI, digitisation and Artificial Intelligence (AI) the profile will witness a significant growth. 
With an increasing retail store space of 5 million sq ft, Delhi’s retail sector will be the biggest driver of demand for sales talent. Other sectors like hospitality, real estate, etc. will push the demand for sales talent significantly.  UNI
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Hello Jammu News at 6:51:00 PM 0


New Delhi, Mar 16: Vice President M Venkaiah Naidu on Friday urged professional bodies like Cost Accountants to be in the forefront in the fight against fraud and corruption, saying that in recent scams the role of a few chartered accountants had brought bad name to the profession.
'You have the onerous responsibility to examine proposals and assess the costs and assist the decision-makers to take informed decisions. Your professional expertise must constantly be enhanced by learning from the best practices within and outside India' he said addressing the inaugural session of the 58th National Cost Convention of Institute of Cost Accountants of India here.
He noted that they could help in bringing in 'greater transparency, ethical corporate behaviour and enhanced accountability into our corporate governance system,' an official release here said.
The Vice President called on CMA professionals to expedite FDI by effective valuation of assets, liabilities, stocks, properties to facilitate investors to make the right financial decisions and fulfill regulatory obligations. 
'Introduction of Goods and Services Tax and the inclusion of anti-profiteering clause in the Act, made it mandatory to pass on the benefit of tax reduction or input tax credit to the final customer', he added.
India, he said, was currently reviewing and simplifying laws and procedures and the ease of doing business index had become a popular tool for governments to show that they offered a favorable investment climate for private businessmen. By 2022, which would be the 75th anniversary of India's Independence, the country was aiming at food security as one of India’s top policy priorities and doubling of farmers’ real income as the need of the hour. 
Turning to development, Mr Naidu said it was meaningless unless it incorporated the needs of the farming sector as no true development could be meaningful unless it incorporated the needs of the farming sector. 
The Vice President suggested six possible drivers of income for farmers’ growth, as sincere implementation of such measures would double farmers’ income by 2022. These were diversification of farm activities towards high-value crops and enterprises; improving irrigation facilities to double productivity; better price realisation for farmers through competitive markets, value chains and improved linkage between field and fork among others.
Minister of State for Law & Justice and Corporate Affairs P P Chaudhary and other dignitaries were present on the occasion. UNI 
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Hello Jammu News at 3:47:00 PM 0



New Delhi, Mar 8: The Supreme Court on Thursday asked Karti Chidambaram, an accused in the INX media case, to approach Delhi High Court for relief.
Karti is seeking quashing of the summons issued against him by the Enforcement Directorate (ED). 
A three-judge bench of the apex court, headed by Chief Justice of India (CJI) Dipak Misra and also comprising Justices AM Khanwilkar and DY Chandrachud said, "you approach Delhi High Court for relief."
The top court also requested the Delhi High Court to set up appropriate bench or to adjudicate the Karti Chidambaram matter on Friday or day after.
Karti, in his plea, had stated that the ED was probing the case against him, by crossing its jurisdiction. 
Karti (the son of former Finance Minister in the Congress-led UPA Government, P Chidambaram) is an accused for his alleged involvement in the FIPB (Foreign Investment Promotion Board) clearance for Rs 305-crore irregular Foreign Direct Investment (FDI) in the INX media case in 2007, the CBI, the investigating agency, claimed. 
The apex court had earlier in its detailed order on November 20, last year allowed Karti's plea to go to the UK from December 01 to 10 last year for the purpose of his daughter's admission with certain terms and conditions.
For the central government, Additional Solicitor General (ASG) Tusshar Mehta was appearing before the apex court. UNI
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Hello Jammu News at 1:15:00 PM 0


New Delhi, Mar 6: The Supreme Court on Tuesday refused to grant relief to Karti Chidambaram, son of former Finance Minister P Chidambaram, in the INX media case, and posted the issue for further hearing to March 8. 
A three-judge bench of Chief Justice of India (CJI) Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud, posted the matter for further hearing to March 8.
Kapil Sibal, senior lawyer appearing for Karti, pleaded to the Supreme Court for interim relief in the case. 
'We are willing to co-operate in every way in the case with the investigating agency and we also did that in the past,' Sibal said. 
The Apex Court also issued notice to the Enforcement Directorate (ED) on the PMLA (Prevention of Money Laundering Act) case registered against Karti.
The accused, in his plea, had stated that the ED is probing the case against him, by crossing its jurisdiction. He is presently in the CBI custody. 
Karti is accused of alleged involvement in the FIPB (Foreign Investment Promotion Board) clearance for Rs 305 crore irregular Foreign Direct Investment (FDI) in the INX media case in 2007, the CBI, the investigating agency, claimed. 
The Apex Court had, earlier in its detailed order on November 20, last year allowed Karti's plea to go to the UK from December 01 to 10 last year for his daughter's admission with certain terms and conditions.
For the Central government, Additional Solicitor General (ASG) Tusshar Mehta was appearing before the Apex Court. UNI
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Hello Jammu News at 1:00:00 PM 0


New Delhi, Mar 5: Karti Chidambaram, an accused in the INX media scam, on Monday approached the Supreme Court seeking quashing of the summons issued by the Enforcement Directorate (ED) against him in the case. 
Chidambaram moved the apex court's three-judge bench, headed by Chief Justice of India (CJI) Dipak Misra and also comprising Justices A M Khanwilkar and D Y Chandrachud, seeking quashing of the summons issued by the ED in the case. 
The court said it would hear the plea tomorrow. 
Chidambaram, presently in the CBI custody, stated in his plea that the ED is probing the case against him by crossing its jurisdiction. 
Son of former Finance Minister in the Congress-led UPA government P Chidambaram, Karti Chidambaram is an accused for his alleged involvement in the FIPB (Foreign Investment Promotion Board) clearance for Rs 305 crore irregular Foreign Direct Investment (FDI) in the INX media case in 2007, the CBI, the investigating agency, claimed. 
On November 20, 2017, the court in its detailed order, had allowed Karti to visit the UK from December 1 to 10 last year for his daughter's admission with certain terms and conditions.
For the Central government, Additional Solicitor General (ASG) Tusshar Mehta was appearing before the apex court. UNI
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Hello Jammu News at 1:05:00 PM 0


New Delhi, Feb 22: Karti Chidambaram -- an accused in the INX media case and son of former union minister P Chidambaram -- on Thursday requested the Supreme Court to urgently hear the Enforcement Directorate's summons against him.
The apex court three-judge bench, headed by Chief Justice of India (CJI) Dipak Misra and also comprising Justices AM Khanwilkar and DY Chandrachud, said, we would hear it tomorrow (Friday).
Karti had moved the apex court against the ED's summons against him for March 1.
Karti is an accused for his alleged involvement in the FIPB (Foreign Investment Promotion Board) clearance for Rs 305-crore irregular Foreign Direct Investment (FDI) in the INX media case in 2007, the CBI, the investigating agency, claimed.
The top court had earlier in its detailed order on November 20, last year allowed Karti's plea to go to the UK from December 01 to 10 last year for the purpose of his daughter's admission with certain terms and conditions.
For the central government, Additional Solicitor General (ASG) Tushar Mehta appeared before the top court. UNI
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Hello Jammu News at 4:41:00 PM 0


New Delhi, Jan 24: Reacting to the several state governments citing security threats as reasons for not releasing 'Padmaavat' in theatres, Delhi Chief Minister Arvind Kejriwal on Wednesday took a dig at the Centre by saying that how can the government expect investment to flow, if it cannot get a film released and run it safely.
"If all state govts, central govt and SC together cannot get one movie released and run safely, how can we expect investments to flow in? Forget FDI, even local investors wud feel hesitant. Not gud for already dwindling economy. Bad for jobs," Mr Kejriwal said in a tweet.
The CM's reaction comes amid protests by the Karni Sena across the country, demanding stay on the release of 'Padmaavat'.
Directed by Sanjay Leela Bhansali, 'Padmaavat' is an epic period drama film which stars Deepika Padukone as Rani Padmavati, Shahid Kapoor as Maharaja Rawal Ratan Singh, and Ranveer Singh as Alauddin Khilji.
The movie is based on the epic poem 'Padmavat' (1540) by Malik Muhammad Jayasi narrating the story of Padmavati, a Rajput queen who committed jauhar to protect herself from Khilji.
The flick is set to hit the theatres on January 25. UNI
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Hello Jammu News at 4:21:00 PM 0


New Delhi, Jan 12: Delhi Chief Minister Arvind Kejriwal on Friday attacked the Narendra Modi-led Government at the Centre over implementation of note ban, GST and recent changes in FDI by saying that these decisions have badly affected small and medium businessmen.
"Firstly note ban, then GST and now FDI. It has become a dying situation for the small and medium businessman," the Chief Minister said in a tweet.
Mr Kejriwal and his Aam Aadmi Party (AAP) had vehemently opposed note-ban (demonetisation) of currency notes of Rs 500/1000 denominations which was announced by Prime Minister Narendra Modi on November 8, 2106.
The party also opposed the decision of the Government to introduce the new tax regime (GST). Presently, Mr Kejriwal is opposing the recent changes made in the FDI by the central government. UNI
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Hello Jammu News at 6:16:00 PM 0


New Delhi, Jan 11: The US-India Strategic Partnership Forum (USISPF) on Thursday lauded the opening of the Foreign Direct Investment (FDI) by the Government of India. 
In a statement issued in Washington, USISPF said that this significant move by the Indian Government, which has the potential to alleviate major trade hurdles that US companies have faced in the past. 
USISPF President Mukesh Aghi alluded to the significance of the change for USISPF member companies, saying, “India continues to make economic reforms and gets rewarded with higher growth. We have seen progress in the Modi Government over the past year with the recent GST reforms and introduction of the Bankruptcy and Insolvency Act. India will continue to see growth with economic reforms such as this one—it’s a virtuous cycle.”
John Chambers, Chairman of USISPF and Chairman Emeritus of Cisco, commented on the policy and said, “This amendment is a great move by the Modi Government and it makes India much more attractive to foreign investors. I applaud the Prime Minister’s leadership in recent reforms and look forward to watching both foreign and Indian companies benefit from this significant leap forward.” 
He said, “Bold steps are necessary to make effective change in India, which holds vast potential with its size, entrepreneurial population, and significant English-speaking consumer base. Steps such as FDI reform will encourage foreign investors and allow India to realize its dream of becoming one of the world’s most powerful economies.”
Formed in 2017 by US business leaders, USISPF has carefully selected the most powerful and strategically positioned Board of Directors for US-India related matters. These members serve as both prominent business leaders and global influencers with an ability to impact international relations and corporate affairs worldwide. Headquartered in Washington, DC, USISPF has offices in New York, Silicon Valley, Mumbai, and New Delhi.
On Wednesday The Union Cabinet allowed 100 percent FDI in single brand retail through the automatic route. The move will make it easier to do business in India.
The government also allowed foreign airlines to invest up to forty-nine percent in Air India, with the condition that the majority of ownership and control of Air India would remain under Indian nationals. 
The amendment that will allow 100 percent FDI under the automatic route will affect single brand retail trading and construction development. In addition, Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) have been allowed to invest in power exchanges through the primary market. Furthermore, the definition of 'medical devices' has been amended in the FDI policy to broaden the scope of items that can attract 100 percent FDI through the automatic route. UNI 
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Hello Jammu News at 3:02:00 PM 0


New Delhi, Jan 11: The Centre of Indian Trade Unions (CITU) on Thursday condemned the Union Government’s decision to allow 49 percent FDI in the country’s national carrier, Air India. 
The Union Cabinet on Wednesday, chaired by Prime Minister Narendra Modi, approved 49 percent FDI in Air India and 100 per cent FDI in single brand retail sector. 
The Left union said that the Modi Government had already decided to privatise Air India and now permitting 49 percent FDI would expedite the move. 
“This is nothing but complete foreignisation of the national carrier – a public sector company with its huge asset base and a high-revenue earning international service network”, the Union said in a statement.
The Government is justifying the privatisation move by highlighting the huge loss made by the airline. The government is, however hiding the fact how Air India was pushed into a bad situation, thanks to disastrous decisions imposed on it by successive governments at the Centre, the Union alleged. 
“Hasty merger of Indian Airlines and Air India, forcible procurement of huge fleet of aircraft from foreign companies through direct purchase at an in-opportune time thereby imposing on the company an unbearable burden of indebtedness leading to loss”, the CPI (M) affiliated union said.
The CITU pointed out that Parliamentary Standing Committee on Transport, Tourism and Culture, comprising of representatives of all the political parties including BJP, had unanimously recommended not to privatising Air India. 
The CITU also lashed out at the Centre that when privatisation of national assets becomes the main goal of the Government then such destructive decision of foreignisation of national carrier is being taken by the Govt completely unconcerned of the national interests.
It also said by allowing 100 per cent FDI in single brand retail trade will further increase the hardship of traditional retail trade sector which is the second biggest livelihood giver after agriculture and expedites the ruin of the traditional retail trade sector. UNI
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Hello Jammu News at 5:36:00 PM 0


New Delhi, Jan 10: In a major policy decision, Cabinet on Wednesday approved 100 per cent Foreign Direct Investment (FDI) under automatic route in Single Brand Retail Trading (SBRT) and Construction Development.
The Union Cabinet chaired by the Prime Minister Narendra Modi, has also given its approval to Foreign Airlines to invest up to 49 per cent under approval route in Air India.
The cabinet also approved Foreign Institutional Investors/foreign portfolio investors (FIIs/FPIs) to invest in Power Exchanges through primary market apart from approving definition of ‘medical devices’ amended in the FDI Policy.
These are intended to liberalise and simplify the FDI policy so as to provide ease of doing business in the country. In turn, it will lead to larger FDI inflows contributing to growth of investment, income and employment.
While extant FDI policy on SBRT allows 49 per cent FDI under automatic route, and FDI beyond 49 per cent and up to 100 per cent through government approval route, it has now been decided to permit 100 per cent FDI under automatic route for SBRT.
(Eds: please pick up from earlier series) UNI
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Hello Jammu News at 5:33:00 PM 0


New Delhi, Jan 9: The government was speaking far from truth, the Congress charged 
on Friday while reacting to Prime Minister Narendra Modi's statement that Foreign direct investment (FDI) was increasing in India. 
Addressing the first PIO Parliamentarians Conference here, Mr Modi said over half the total investment into the country has come in the last three years. A record 16 billion dollars of FDI came into the country last year, Mr Modi said.
Addressing a press conference at Congress headquarters, Senior leader Raj Babbar alleged that the FDI in 2017 has been minimum in past 13 years.
During the UPA regime in 2014, fresh investment was 16.2 trillion dollars while in 2017 it was reduced to 7.2 trillion dollars, he said.
Growth in manufacturing sector has also reduced, Mr Babbar said.
He said unemployment in the country has increased to such an extent that there were 1.5 crore unemployed, according to newspapers and while his party president Rahul Gandhi was more bothered about the increasing unemployment and the health facilities in the country, the Prime Minister was always in election mode.
Mr Babbar said there was slowdown in India's real estate and manufacturing sector. 
'Now, nothing was working,' he said in a reply to the PM's sarcastic statement made 'sab chalta hai' in UPA regime.
On Congress chief Rahul Gandhi's visit to Bahrain, where he addressed delegates of 50 countries and is the chief guest, whether he was aping the Prime Minister on visits abroad, Mr Babbar said the Congress president was trying to unify people.
On the Supreme Court saying that playing of national anthem in cinema halls will henceforth be optional, a day after the Centre informed the top court that it was in favour of modification of the November 2016 order, a complete turnabout from its previous stand on the issue, the Congress leader said it was diversionary tactic of the government but they respect the court judgement.
On Unified education system in Uttar Pradesh, the Congress UP incharge said where people are dying of hunger and farmers throwing potatoes on streets in protest, the government is trying to divert attention.
About Chief Minister Vasundhara Raje opposing release of film 'Padmavat' in Rajasthan, Mr Babbar said if the Union Information ministry has given its approval, 'is the Chief Minister opposing the Centre' by stopping the release of the film. UNI
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Hello Jammu News at 4:03:00 PM 0

New Delhi, Nov 16: Union Minister for Finance Arun Jaitley has said India has become most favourable and attractive destination for Foreign Direct Investment (FDI) evidenced by the fact that it has become one of the largest recipient of FDI in the world. 
He was delivering the introductory address at the Investors’ Roundtable Meet in Singapore on Wednesday. The Investors Roundtable was jointly organised by the Ministry of Finance and the High Commission of India in Singapore. The Finance Minister said to provide further impetus to the economy, the present Government has implemented a slew of economy reforms one after the other including the roll-out of the Game Changing Tax Reform, Goods and Services Tax (GST) from July 1, 2017; introduction of Insolvency and Bankruptcy Code (IBC) and the Re-Capitalization Package for the Public Sector Banks (PSBs) - which will help to redress the twin balance sheet problem and revive private investment. The Finance Minister also spoke about the major initiatives undertaken by the present Government including the crackdown against black money through demonetization and other follow-up measures; and major changes in the Foreign Direct Investment (FDI) Policy regime, with an aim to make it more liberal and investor friendly. He also highlighted the ‘Ease of Doing Business’ measures initiated by the present Government in last three years resulting in India jumping in World Bank’s “Ease of Doing Business” Index from 146 in 2014 to 100 in October 2017. Earlier in his address at the Singapore Fintech Festival, Mr Jaitley said the three key structural reforms implemented by the present government in recent years -- Aadhar, Demonetisation and GST have brought transparency and efficiency in Governance and helped in transition from cash to less cash economy and from informal to formal economy. UNI
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Hello Jammu News at 3:52:00 PM 0

New Delhi, Nov 16: The Supreme Court on Thursday adjourned the plea filed by Karti Chidambaram, seeking to travel abroad for a week, for Monday, November 20. 
Karti, son of former Finance Minister in the Congress-led UPA Government, is allegedly involved in the FIPB (Foreign Investment Promotion Board) clearance for Rs 305 crore irregular foreign direct investment (FDI) in the INX Media in 2007, the CBI, the investigating agency, claimed. The CBI sought more time to reply to the plea filed by Karti seeking to travel abroad for a week. Karti had approached the apex court seeking its direction to allow his plea. He had stated that he wanted to go to attend a seminar for a week at the Cambridge University. The apex court three-judge bench, headed by Chief Justice of India (CJI) Dipak Misra and also comprising Justices AM Khanwilkar and DY Chandrachud asked the probe agency, Central Bureau of Investigation (CBI), to file its reply by Thursday evening. UNI
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Hello Jammu News at 5:38:00 PM 0

Manila, Nov 13: Under consistent attack back home and especially in the political backyards of his home state Gujarat for demonetisation and roll back of 'half-baked' Goods and Services Tax (GST) regime, Prime Minister Narendra Modi on Monday made use of the ASEAN Business Summit forum here to defend his government's economic policies and asserted that India has emerged as a "globally integrated economy" and also a front runner in attracting FDI.
"This year in July we have implemented the highly complex task of migration to the uniform GST.....This has done away a vast range of state level and central level taxes throughout India," Mr Modi told the ASEAN Business Investment Summit here. He also said the anti-corruption drive is already showing results and the use of technology and digital transactions have only helped the cause further. "Most of the sectors in our economy are now open for FDI. More than 90 per cent of the Foreign Direct Investment are on auto approval route," he said adding India has emerged as a "front runner in attracting FDI". Amid frequent applause by the gathering, Mr Modi said compared to last three years, India has this year received "67 per cent more FDI".
"Now we are a globally integrated economy....these milestones have been achieved even before some of the major economic reforms," Prime Minister said. He said doing away with various complex structures of taxes in the country is no mean achievement "given the vastness and diversity and the federal nature of our country". Prime Minister, however, in his characteristic style said, "this is not enough". "Friends, a very large part of India's population had no access to banking services....This deprived them of the opportunities in getting access to institutional credit". In this context, he referred to the much talked about Jan Dhan Yojana and said, "within months, the lives of millions of Indians were transformed". UNI
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