British lawmakers will vote on Tuesday on whether to try to take control of the Brexit process in a series of crunch votes that threaten to pile more pressure on Prime Minister Theresa May.

With the Brexit deadline only 60 days away, MPs will vote on <a href="http://www.wionews.com/opinions/theres-no-brexit-plan-b-this-is-still-plan-may-191929">May's "Plan B"</a>, which she presented to parliament last week after her initial deal was comprehensively rejected on January 15.

They will also vote on amendments that will indicate whether lawmakers have the numbers to instigate a legally-binding parliamentary takeover of the process.

One amendment would open the door for the Remain-dominated House of Commons to bring in legislation preventing Britain leaving the European Union without an official deal on March 29.

It would force May to delay Brexit for nine months if her deal is not approved before February 26, and give lawmakers the ability to indefinitely extend the deadline.

Increasing numbers of government ministers have warned they will not accept the prospect of Britain leaving without a deal, which would immediately sever all ties with its largest trading partner.

Conservative leader May is seeking to salvage her agreement, and hopes to win over MPs in another future ballot, despite losing the last by 230 votes.

The government said that this second "meaningful vote" would also be amendable, possibly convincing some MPs not to take any drastic action on Tuesday, knowing they will have another chance.

Internal divisions 
Parliamentary experts also warned that MPs' efforts may be unconstitutional.

"The Commons... cannot legally compel the government to negotiate an arrangement to which it is opposed," King's College London professor Vernon Bogdanor wrote in The Times, adding their plans would constitutionally require a change in government.

Amid the bitter wrangling Queen Elizabeth II appeared to make a rare foray into politics last week, emphasising in a speech the need for Britons to come together to "seek out the common ground".

May's plan B hinges almost entirely on convincing the EU to reexamine the existing deal's so-called backstop proposal, which could see Britain tied to the bloc's trade rules to keep open the border with Ireland.

An amendment potentially up for a vote on Tuesday would call for her to go back to Brussels and secure changes to the backstop.

May reportedly told Tory MPs at a Monday meeting the government will support the measure and would order them to follow suit.

But an ardently pro-Brexit group of Conservative lawmakers led by backbencher Jacob Rees-Mogg said they would not back the move because it does not force the reopening of the withdrawal agreement.

No deal 'by accident' 
If passed, the amendment could put pressure on Brussels to reopen the deal by offering a clear path through the current impasse.

But the EU has consistently said there will be no major changes to the deal and on Monday accused Britain of risking a no-deal Brexit "by accident".

In some of her toughest remarks to date Sabine Weyand, deputy to EU negotiator Michel Barnier, criticised May's handling of divorce talks, arguing she had kept colleagues too in the dark during the 18 months of gruelling negotiations.

Meanwhile MPs in favour of another referendum pulled their amendment after it crucially failed to win the support of Labour leader Jeremy Corbyn, although the idea will remain on the backburner if Brexit is delayed.&nbsp;

Not all amendments will be put to a vote, with Commons Speaker John Bercow to make the selection on Tuesday morning, with votes cast from 7:00 pm (1900 GMT).

The speaker sparked outrage when he ignored convention and the advice of his clerks to approve the initial move forcing May to reveal her revised plan, which also gave MPs a motion on which to tag their amendments.

Leave supporting MPs have accused the speaker, who publicly declared that he voted for Remain, of using his position, which is traditionally impartial, to try to scupper Brexit, and will be keeping a close eye on his actions on Tuesday.

May's office has said it was considering extending House of Commons hours and cancelling MPs' week-long February holiday to make time to pass all the laws needed to prepare for Brexit.

British lawmakers will vote on Tuesday on whether to try to take control of the Brexit process in a series of crunch votes that threaten to pile more pressure on Prime Minister Theresa May.

British lawmakers will vote on Tuesday on whether to try to take control of the Brexit process in a series of crunch votes that threaten to pile more pressure on Prime Minister Theresa May. With the Brexit deadline only 60 days away, MPs will vote on May's "Plan B", which she presented to parliament last week after her initial deal was comprehensively rejected on January 15. They will also vote on amendments that will indicate whether lawmakers have the numbers to instigate a legally-binding parliamentary takeover of the process. One amendment would open the door for the Remain-dominated House of Commons to bring in legislation preventing Britain leaving the European Union without an official deal on March 29. It would force May to delay Brexit for nine months if her deal is not approved before February 26, and give lawmakers the ability to indefinitely extend the deadline. Increasing numbers of government ministers have warned they will not accept the prospect of Britain leaving without a deal, which would immediately sever all ties with its largest trading partner. Conservative leader May is seeking to salvage her agreement, and hopes to win over MPs in another future ballot, despite losing the last by 230 votes. The government said that this second "meaningful vote" would also be amendable, possibly convincing some MPs not to take any drastic action on Tuesday, knowing they will have another chance. Internal divisions Parliamentary experts also warned that MPs' efforts may be unconstitutional. "The Commons... cannot legally compel the government to negotiate an arrangement to which it is opposed," King's College London professor Vernon Bogdanor wrote in The Times, adding their plans would constitutionally require a change in government. Amid the bitter wrangling Queen Elizabeth II appeared to make a rare foray into politics last week, emphasising in a speech the need for Britons to come together to "seek out the common ground". May's plan B hinges almost entirely on convincing the EU to reexamine the existing deal's so-called backstop proposal, which could see Britain tied to the bloc's trade rules to keep open the border with Ireland. An amendment potentially up for a vote on Tuesday would call for her to go back to Brussels and secure changes to the backstop. May reportedly told Tory MPs at a Monday meeting the government will support the measure and would order them to follow suit. But an ardently pro-Brexit group of Conservative lawmakers led by backbencher Jacob Rees-Mogg said they would not back the move because it does not force the reopening of the withdrawal agreement. No deal 'by accident' If passed, the amendment could put pressure on Brussels to reopen the deal by offering a clear path through the current impasse. But the EU has consistently said there will be no major changes to the deal and on Monday accused Britain of risking a no-deal Brexit "by accident". In some of her toughest remarks to date Sabine Weyand, deputy to EU negotiator Michel Barnier, criticised May's handling of divorce talks, arguing she had kept colleagues too in the dark during the 18 months of gruelling negotiations. Meanwhile MPs in favour of another referendum pulled their amendment after it crucially failed to win the support of Labour leader Jeremy Corbyn, although the idea will remain on the backburner if Brexit is delayed. Not all amendments will be put to a vote, with Commons Speaker John Bercow to make the selection on Tuesday morning, with votes cast from 7:00 pm (1900 GMT). The speaker sparked outrage when he ignored convention and the advice of his clerks to approve the initial move forcing May to reveal her revised plan, which also gave MPs a motion on which to tag their amendments. Leave supporting MPs have accused the speaker, who publicly declared that he voted for Remain, of using his position, which is traditionally impartial, to try to scupper Brexit, and will be keeping a close eye on his actions on Tuesday. May's office has said it was considering extending House of Commons hours and cancelling MPs' week-long February holiday to make time to pass all the laws needed to prepare for Brexit.

British MPs to vote today on taking control of Brexit from government

Myanmar leader Aung San Suu Kyi on Monday urged global investors to put their money into Myanmar, seeking to offset the negative impact of the Rohingya crisis and slow pace of economic reforms.

Suu Kyi touted Myanmar's economic potential, its attractive geographical location, expanding domestic markets and young population. She also listed some of the reforms undertaken by her government since coming to power in 2016.

"I stand here to reaffirm our commitment to continue our reform and to build an investment-friendly environment," Suu Kyi said in the capital Naypyitaw, launching the first official investment conference hosted by her administration.

"Please do come to Myanmar, soak in an atmosphere brimming with opportunities and witness our new-found economic vibrancy with your own eyes," she told a crowd of business people, diplomats and journalists gathered at a conference hall.

While there were relatively few details on planned reforms, the conference itself could signal a shift in the government's approach to the business community.

Until now, investors have complained the government has focused largely on ending the country's myriad armed conflicts, neglecting economic reforms and their needs.

Suu Kyi did not mention in her speech the Rohingya crisis and the chilling impact it has had on investment. Many businesses worry that some of the Western sanctions that stifled the economy under army rule could be reinstated.

About 730,000 Rohingya Muslims have fled from western Rakhine State into Bangladesh since a military crackdown in 2017 after Rohingya insurgents attacked security posts.

A UN-mandated fact-finding mission said that Myanmar's military carried out mass killings and gang rapes of Rohingya with "genocidal intent" and called for top generals to be prosecuted. Myanmar rejected the findings.

The International Monetary Fund said last year its data indicated that some foreign investors were delaying final approval of projects until there was clarity about how the situation may unfold.

The European Union is considering trade sanctions on Myanmar over the crisis, potentially stripping the country of tariff-free access to the world's largest trading bloc. The measures could include Myanmar's lucrative textile industry and potentially put thousands of jobs at risk.

Separately this month, the EU imposed tariffs on rice from Myanmar and Cambodia to curb a surge in imports.

Suu Kyi did not mention the EU measures in her speech.

The World Bank said last month it expected Myanmar's gross domestic product to fall to 6.2 per cent in 2018-19 fiscal year from 6.8 per cent the year before. It saw "elevated downside risks from intensifying impacts of the Rakhine crisis," among other factors contributing to slowing growth.

Investors have credited the government's appointment of a new finance minister, Soe Win, who has a background in international finance.

The government has also continued to reform the legal framework for investing and establishing companies, liberalizing some of the junta-era restrictions on investment, and has created a bank of key projects it wants to implement.

Myanmar leader Aung San Suu Kyi on Monday urged global investors to put their money into Myanmar, seeking to offset the negative impact of the Rohingya crisis and slow pace of economic reforms.

Myanmar leader Aung San Suu Kyi on Monday urged global investors to put their money into Myanmar, seeking to offset the negative impact of the Rohingya crisis and slow pace of economic reforms. Suu Kyi touted Myanmar's economic potential, its attractive geographical location, expanding domestic markets and young population. She also listed some of the reforms undertaken by her government since coming to power in 2016. "I stand here to reaffirm our commitment to continue our reform and to build an investment-friendly environment," Suu Kyi said in the capital Naypyitaw, launching the first official investment conference hosted by her administration. "Please do come to Myanmar, soak in an atmosphere brimming with opportunities and witness our new-found economic vibrancy with your own eyes," she told a crowd of business people, diplomats and journalists gathered at a conference hall. While there were relatively few details on planned reforms, the conference itself could signal a shift in the government's approach to the business community. Until now, investors have complained the government has focused largely on ending the country's myriad armed conflicts, neglecting economic reforms and their needs. Suu Kyi did not mention in her speech the Rohingya crisis and the chilling impact it has had on investment. Many businesses worry that some of the Western sanctions that stifled the economy under army rule could be reinstated. About 730,000 Rohingya Muslims have fled from western Rakhine State into Bangladesh since a military crackdown in 2017 after Rohingya insurgents attacked security posts. A UN-mandated fact-finding mission said that Myanmar's military carried out mass killings and gang rapes of Rohingya with "genocidal intent" and called for top generals to be prosecuted. Myanmar rejected the findings. The International Monetary Fund said last year its data indicated that some foreign investors were delaying final approval of projects until there was clarity about how the situation may unfold. The European Union is considering trade sanctions on Myanmar over the crisis, potentially stripping the country of tariff-free access to the world's largest trading bloc. The measures could include Myanmar's lucrative textile industry and potentially put thousands of jobs at risk. Separately this month, the EU imposed tariffs on rice from Myanmar and Cambodia to curb a surge in imports. Suu Kyi did not mention the EU measures in her speech. The World Bank said last month it expected Myanmar's gross domestic product to fall to 6.2 per cent in 2018-19 fiscal year from 6.8 per cent the year before. It saw "elevated downside risks from intensifying impacts of the Rakhine crisis," among other factors contributing to slowing growth. Investors have credited the government's appointment of a new finance minister, Soe Win, who has a background in international finance. The government has also continued to reform the legal framework for investing and establishing companies, liberalizing some of the junta-era restrictions on investment, and has created a bank of key projects it wants to implement.

Suu Kyi to investors: Myanmar is open for business

British MPs could sit long hours and their February holiday may be scrapped as the government races to pass its Brexit legislation before Britain leaves the EU on March 29, Downing Street said Sunday.

Prime Minister Theresa May's government is looking at making the House of Commons sit on more Fridays — which it does not normally do — and extend debating time well into the evening on some days.

It is also "reviewing" the week-long February recess, a Downing Street spokeswoman said.

There are still eight laws the government wants to pass to prepare the statute books for Brexit, covering areas of trade, fisheries, and agriculture, immigration, the environment, and healthcare.

These include any bill needed to implement a divorce deal with the EU, which MPs have yet to agree to.

"We remain committed to ensuring all necessary legislation is in place for exit day on March 29, 2019, and it is important to stress we are confident of meeting that commitment," the spokeswoman said.

"We are aware this is a challenging timetable, so as a precautionary measure we are in preliminary discussions about extending sitting times -- but only if necessary."

She said MPs would have a chance to debate and vote on any decision, adding that the government recognised the need to balance their constituency and family responsibilities.

Andrea Leadsom, the leader of the House of Commons, suggested this week that Brexit could be delayed if necessary by a few weeks to get the bills through.

"I'm absolutely certain that if we needed a couple of extra weeks or something, that that would be feasible," she told the BBC's "Newsnight" programme.

But she added that "with goodwill and a determination, we can still get the legislation through in time".

Meanwhile, officials are looking at whether they might need sweeping powers, including the introduction of martial law, if there is disorder after Brexit, the Sunday Times newspaper reported.

There has been a discussion about using the Civil Contingencies Act 2004, which allows curfews, travel bans and the deployment of the army to quell any social unrest if Britain leaves the EU with no deal.

A separate Downing Street spokeswoman said: "The prime minister has said that there will be the disruption in the event of no deal."

"But as a responsible government, we are taking the appropriate steps to minimise this disruption and ensure the country is prepared."

British MPs could sit long hours and their February holiday may be scrapped as the government races to pass its Brexit legislation before Britain leaves the EU on March 29, Downing Street said Sunday.

British MPs could sit long hours and their February holiday may be scrapped as the government races to pass its Brexit legislation before Britain leaves the EU on March 29, Downing Street said Sunday. Prime Minister Theresa May's government is looking at making the House of Commons sit on more Fridays — which it does not normally do — and extend debating time well into the evening on some days. It is also "reviewing" the week-long February recess, a Downing Street spokeswoman said. There are still eight laws the government wants to pass to prepare the statute books for Brexit, covering areas of trade, fisheries, and agriculture, immigration, the environment, and healthcare. These include any bill needed to implement a divorce deal with the EU, which MPs have yet to agree to. "We remain committed to ensuring all necessary legislation is in place for exit day on March 29, 2019, and it is important to stress we are confident of meeting that commitment," the spokeswoman said. "We are aware this is a challenging timetable, so as a precautionary measure we are in preliminary discussions about extending sitting times -- but only if necessary." She said MPs would have a chance to debate and vote on any decision, adding that the government recognised the need to balance their constituency and family responsibilities. Andrea Leadsom, the leader of the House of Commons, suggested this week that Brexit could be delayed if necessary by a few weeks to get the bills through. "I'm absolutely certain that if we needed a couple of extra weeks or something, that that would be feasible," she told the BBC's "Newsnight" programme. But she added that "with goodwill and a determination, we can still get the legislation through in time". Meanwhile, officials are looking at whether they might need sweeping powers, including the introduction of martial law, if there is disorder after Brexit, the Sunday Times newspaper reported. There has been a discussion about using the Civil Contingencies Act 2004, which allows curfews, travel bans and the deployment of the army to quell any social unrest if Britain leaves the EU with no deal. A separate Downing Street spokeswoman said: "The prime minister has said that there will be the disruption in the event of no deal." "But as a responsible government, we are taking the appropriate steps to minimise this disruption and ensure the country is prepared."

UK government may scrap MPs' holiday to pass Brexit laws

<a href="https://www.google.com/url?q=http://www.wionews.com/world/malaysia-probes-claim-china-offered-to-bail-out-1mdb-188963&amp;sa=U&amp;ved=0ahUKEwjkxIPB44rgAhUJrY8KHcHsAc8QFggRMAQ&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2sdLJepHoHyZYr2oCNmOxW">Malaysia's economics minister</a> said on Saturday the country will cancel its $20 billion <a href="https://www.google.com/url?q=http://www.wionews.com/world/malaysian-pm-heading-to-china-with-mega-projects-in-focus-159601&amp;sa=U&amp;ved=0ahUKEwjkxIPB44rgAhUJrY8KHcHsAc8QFggUMAU&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3MotepaChwQNDGonqXnCf_">East Coast Rail Link (ECRL) project</a> with contractor China Communications Construction Co Ltd (CCCC).

Mohamed Azmin Ali said at a media event that the project's cost was too great, while also giving an assurance that Malaysia would welcome investment from China on a case by case basis.

"The cabinet has made this decision because the cost to develop the ECRL is too big and we don't have (the) financial capacity," said Azmin.

The government was still determining how much to pay CCCC for the project cancellation fee, he said.

The interest on the project alone amounted to half a billion ringgit ($120 million) a year.

"We cannot afford to bear this, so this project needs to be terminated without affecting our good relationship with China."

Malaysian Prime Minister Mahathir Mohamad said last August that the rail project would be cancelled "for now", but the government has since said it was in negotiations with CCCC on the rail line's future.

He also announced in August the cancellation of another China-backed project, a natural gas pipeline in the East Malaysia state of Sabah.

CCCC did not immediately respond to a request for comment from Reuters by phone and text message.

Since coming into power last May, Mahathir has repeatedly vowed to renegotiate or cancel what he calls "unfair" Chinese infrastructure deals authorised by his predecessor Najib Razak, whose near-decade long rule ended in electoral defeat amid a massive financial scandal.

The ECRL project was the centrepiece of China's infrastructure push in Malaysia but work had been suspended pending discussions over pricing and graft accusations.

Malaysia's finance minister said last year that the cost of the ECRL project had been inflated, according to local financial newspaper The Edge.

The ECRL project is one of the biggest China has signed under its signature Belt and Road initiative, as well as one of state-owned contractor CCCC's largest railway projects.

In November, the US-China Economic and Security Review Commission issued a report ranking the ECRL as the second-largest Belt and Road project by estimated cost, behind the $21.4 billion Moscow-Kazan high-speed railway project in Russia.

Malaysia's economics minister said on Saturday the country will cancel its $20 billion East Coast Rail Link (ECRL) project with contractor China Communications Construction Co Ltd (CCCC).

Malaysia's economics minister said on Saturday the country will cancel its $20 billion East Coast Rail Link (ECRL) project with contractor China Communications Construction Co Ltd (CCCC). Mohamed Azmin Ali said at a media event that the project's cost was too great, while also giving an assurance that Malaysia would welcome investment from China on a case by case basis. "The cabinet has made this decision because the cost to develop the ECRL is too big and we don't have (the) financial capacity," said Azmin. The government was still determining how much to pay CCCC for the project cancellation fee, he said. The interest on the project alone amounted to half a billion ringgit ($120 million) a year. "We cannot afford to bear this, so this project needs to be terminated without affecting our good relationship with China." Malaysian Prime Minister Mahathir Mohamad said last August that the rail project would be cancelled "for now", but the government has since said it was in negotiations with CCCC on the rail line's future. He also announced in August the cancellation of another China-backed project, a natural gas pipeline in the East Malaysia state of Sabah. CCCC did not immediately respond to a request for comment from Reuters by phone and text message. Since coming into power last May, Mahathir has repeatedly vowed to renegotiate or cancel what he calls "unfair" Chinese infrastructure deals authorised by his predecessor Najib Razak, whose near-decade long rule ended in electoral defeat amid a massive financial scandal. The ECRL project was the centrepiece of China's infrastructure push in Malaysia but work had been suspended pending discussions over pricing and graft accusations. Malaysia's finance minister said last year that the cost of the ECRL project had been inflated, according to local financial newspaper The Edge. The ECRL project is one of the biggest China has signed under its signature Belt and Road initiative, as well as one of state-owned contractor CCCC's largest railway projects. In November, the US-China Economic and Security Review Commission issued a report ranking the ECRL as the second-largest Belt and Road project by estimated cost, behind the $21.4 billion Moscow-Kazan high-speed railway project in Russia.

Malaysia to cancel $20 billion China-backed rail project: Minister

The government in Pakistan's Khyber Pakhtunkhwa province has decided to convert a historic fort built by a Sikh commander into a museum.&nbsp;

The fort in Haripur district was named after Hari Singh Nalwa, the commander-in-chief of the Sikh Khalsa Army, the army of the Sikh Empire.&nbsp;

The fort was built by Nalwa in 1822 over an area of 35,420 square feet.

Nalwa was Commander-in-Chief of the Sikh Khalsa Army, the army of the Sikh Empire.&nbsp;

The archaeology department of the Khyber Pakhtunkhwa sent a note to Chief Minister Mehmood Khan for taking control of the fort and its opening for the tourists.&nbsp;

The district administration Haripur has expressed readiness to handover the fort to the archaeology department.&nbsp;

The Britishers also carried out some construction work in the fort.

The government in Pakistan's Khyber Pakhtunkhwa province has decided to convert a historic fort built by a Sikh commander into a museum. The fort in Haripur district was named after Hari Singh Nalwa, the commander-in-chief of the Sikh Khalsa Army, the army of the Sikh Empire.

The government in Pakistan's Khyber Pakhtunkhwa province has decided to convert a historic fort built by a Sikh commander into a museum. The fort in Haripur district was named after Hari Singh Nalwa, the commander-in-chief of the Sikh Khalsa Army, the army of the Sikh Empire. The fort was built by Nalwa in 1822 over an area of 35,420 square feet. Nalwa was Commander-in-Chief of the Sikh Khalsa Army, the army of the Sikh Empire. The archaeology department of the Khyber Pakhtunkhwa sent a note to Chief Minister Mehmood Khan for taking control of the fort and its opening for the tourists. The district administration Haripur has expressed readiness to handover the fort to the archaeology department. The Britishers also carried out some construction work in the fort.

Pakistan provincial government to turn Hari Singh Nalwa fort into museum

<a href="https://www.google.com/url?q=http://www.wionews.com/south-asia/uae-to-deposit-3-billion-in-pakistan-central-bank-185664&amp;sa=U&amp;ved=0ahUKEwj9tajHiIPgAhVIbn0KHY3VCLMQFggLMAI&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3UsF9OAaAk0Q1gZDuno97Q">Pakistan and the United Arab Emirates (UAE)</a> on Tuesday signed a $3 billion bailout package, as part of Abu Dhabi's support to boost the cash-strapped country's dwindling dollar reserves. 
&nbsp; 
<a href="https://www.google.com/url?q=http://www.wionews.com/south-asia/uaes-us-62-billion-bail-out-package-for-pakistan-188460&amp;sa=U&amp;ved=0ahUKEwj9tajHiIPgAhVIbn0KHY3VCLMQFggIMAE&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2OI50rM-3WQ1PPSaS3cSlz">The UAE </a>in December last year had announced to provide $3 billion financial assistance to Pakistan after Saudi Arabia made a similar commitment to help Islamabad successfully overcome international payment crisis and to avoid a stringent International Monetary Fund (IMF) deal.

Tuesday's agreement was signed between State Bank of Pakistan (SBP) chief Tariq Bajwa and Abu Dhabi Fund for Development (ADFD) Director General Mohammed Saif Al Suwaidi.

"UAE has formalized $3 billion deposit in the State Bank of Pakistan. DG ADFD &amp; the Governor SBP inked the agreement at #ADFD Headquarters in Abu Dhabi," Foreign Office spokesman Mohammad Faisal tweeted.

He said the agreement will help Pakistan achieve financial stability and overcome economic challenges and noted ADFD's support over the years to stimulate Pakistan's economic growth and sustainable development.&nbsp;

Speaking on the occasion, Suwaidi said, "The directive to deposit USD 3 billion with the State Bank of Pakistan aligns with the UAE leadership's keenness to bolster Pakistan's economy, help its government achieve financial stability and overcome economic challenges, and drive comprehensive development in the country."

He added, "ADFD and the Government of Pakistan have enjoyed strong and long-standing ties dating back to 1981. The Fund's efforts have significantly contributed to improving socio-economic conditions in the country, boosting strategic growth and achieving the development priorities of the Pakistani government.

To date, ADFD has provided AED 1.5 billion to fund sustainable development projects in Pakistan spanning diverse sectors, including transport, water and agriculture, healthcare, and education, according to a press release.

The UAE had committed the financial assistance during Prime Minister Imran Khan's visit to Qatar last month to seek investment and provision of LNG on deferred payments.&nbsp;

Pakistan has a 15-year contract with Qatar for the supply of LNG.

The Saudi and the UAE governments have played a major role in helping Pakistan to meet around $12 billion shortfall in balance of payments in 2018-19 fiscal year, government officials said.

Pakistan and the United Arab Emirates (UAE) on Tuesday signed a $3 billion bailout package, as part of Abu Dhabi's support to boost the cash-strapped country's dwindling dollar reserves.

Pakistan and the United Arab Emirates (UAE) on Tuesday signed a $3 billion bailout package, as part of Abu Dhabi's support to boost the cash-strapped country's dwindling dollar reserves. The UAE in December last year had announced to provide $3 billion financial assistance to Pakistan after Saudi Arabia made a similar commitment to help Islamabad successfully overcome international payment crisis and to avoid a stringent International Monetary Fund (IMF) deal. Tuesday's agreement was signed between State Bank of Pakistan (SBP) chief Tariq Bajwa and Abu Dhabi Fund for Development (ADFD) Director General Mohammed Saif Al Suwaidi. "UAE has formalized $3 billion deposit in the State Bank of Pakistan. DG ADFD & the Governor SBP inked the agreement at #ADFD Headquarters in Abu Dhabi," Foreign Office spokesman Mohammad Faisal tweeted. He said the agreement will help Pakistan achieve financial stability and overcome economic challenges and noted ADFD's support over the years to stimulate Pakistan's economic growth and sustainable development. Speaking on the occasion, Suwaidi said, "The directive to deposit USD 3 billion with the State Bank of Pakistan aligns with the UAE leadership's keenness to bolster Pakistan's economy, help its government achieve financial stability and overcome economic challenges, and drive comprehensive development in the country." He added, "ADFD and the Government of Pakistan have enjoyed strong and long-standing ties dating back to 1981. The Fund's efforts have significantly contributed to improving socio-economic conditions in the country, boosting strategic growth and achieving the development priorities of the Pakistani government. To date, ADFD has provided AED 1.5 billion to fund sustainable development projects in Pakistan spanning diverse sectors, including transport, water and agriculture, healthcare, and education, according to a press release. The UAE had committed the financial assistance during Prime Minister Imran Khan's visit to Qatar last month to seek investment and provision of LNG on deferred payments. Pakistan has a 15-year contract with Qatar for the supply of LNG. The Saudi and the UAE governments have played a major role in helping Pakistan to meet around $12 billion shortfall in balance of payments in 2018-19 fiscal year, government officials said.

Pakistan, UAE sign $3 billion bailout package

The government has carried out elaborate liberalisation and simplification of the passport issuance process, and work is on for an e-passport facility, officials said Tuesday.

Speaking about the welfare of overseas Indians at the inauguration of the 15th Pravasi Bharatiya Divas here, Prime Minister Narendra Modi said passport and visa rules have been simplified and e-visa has made it much easier for them to travel.&nbsp;

"Our Embassies and Consulates are being connected to the Passport Seva Project worldwide. This will prepare a centralised system connected to the passport service for all of you. Now, one step ahead, work is also going on for issuing chip-based e-passport," Modi said.

Along with passports, the rules related to visas are also being simplified, he said.

Dnyaneshwar Mulay, Secretary, Consular, Passport and Visa division at the Ministry of External Affairs, at a briefing, said passport seva has seen a revolution in the past few years.

Over 290 passport centres have been opened in the country and the aim is to have such facilities in all 543 Lok Sabha constituencies, he said.

"There has been an elaborate liberalisation and simplification of the passport seva," he said.

The whole world is moving towards e-passports and India has also decided to go for it, Mulay said.

The government has carried out elaborate liberalisation and simplification of the passport issuance process, and work is on for an e-passport facility, officials said Tuesday.

The government has carried out elaborate liberalisation and simplification of the passport issuance process, and work is on for an e-passport facility, officials said Tuesday. Speaking about the welfare of overseas Indians at the inauguration of the 15th Pravasi Bharatiya Divas here, Prime Minister Narendra Modi said passport and visa rules have been simplified and e-visa has made it much easier for them to travel. "Our Embassies and Consulates are being connected to the Passport Seva Project worldwide. This will prepare a centralised system connected to the passport service for all of you. Now, one step ahead, work is also going on for issuing chip-based e-passport," Modi said. Along with passports, the rules related to visas are also being simplified, he said. Dnyaneshwar Mulay, Secretary, Consular, Passport and Visa division at the Ministry of External Affairs, at a briefing, said passport seva has seen a revolution in the past few years. Over 290 passport centres have been opened in the country and the aim is to have such facilities in all 543 Lok Sabha constituencies, he said. "There has been an elaborate liberalisation and simplification of the passport seva," he said. The whole world is moving towards e-passports and India has also decided to go for it, Mulay said.

Work is on for e-passport facility: Central government

Sweden ended a four-month political vacuum Friday when lawmakers elected <a href="http://www.wionews.com/india-news/in-a-first-swedish-pm-stefan-lofven--to-receive-modi-at-airport--130780">Prime Minister Stefan Lofven </a>to a second term after he elbowed out the far-right to save one of Europe's few leftwing governments.

Lofven, 61, may have won a victory, but the former welder and union leader emerges weakened by months of wrangling in the wake of September's inconclusive legislative elections that forced him to make major concessions to centre-right parties to win their support.

Lofven will formally present his new minority centre-left government, comprising his Social Democrats and the Greens, and its programme on Monday.

His new administration will be one of the weakest in Sweden in 70 years, with just 32.7 per cent of voters have cast ballots for the two parties.

He therefore secured the backing of the Centre and Liberal parties, until now members of the four-party, centre-right opposition Alliance, agreeing to a policy document that includes, among other things, the introduction of market rates for newly produced rental housing and easing Sweden's strict labour laws.

Together, the four parties hold 167 of 349 seats in parliament, eight fewer than the 175 that constitutes a majority in the Riksdag.

'We stand up for democracy'

"All around our world we see the rising influence of rightwing extremism. But in Sweden we stand up for democracy, for people's equal rights," Lofven said after the vote.

"Sweden will have a vigorous government that is not dependent on the (far-right) Sweden Democrats," he stressed.

The nationalist and anti-immigration Sweden Democrats came third in the legislative elections in September with 17.6 per cent of the vote, putting the party in a position to act as kingmaker.

In the long weeks that followed, both Lofven and the head of the rightwing opposition Alliance, Ulf Kristersson, failed repeatedly to form a government.

Neither was able to build a majority due to their refusal to negotiate with the Sweden Democrats, with lawmakers rejecting both of the party's nominations for prime minister.

"For a long time Swedish politics was dominated by a two-bloc conflict. After the rise of the Sweden Democrats, a three-block situation occurred. Now the situation has changed dramatically," political scientist Olof Petersson told AFP.

Divide and conquer

Lofven was the most shrewd in the post-election negotiations, analysts said.

"Lofven has reached his strategic goals: to remain in power and to split up the non-socialist Alliance opposition," Petersson said.

But the deal between the coalition and centre-right parties contains "worrisome" elements for the left wing, in particular, tax policies that "risk increasing inequalities in Swedish society," said Gothenburg University political science professor Ulf Bjereld, who is affiliated with the Social Democrats.

The ex-communist Left Party had backed Lofven's previous minority government since 2014, helping pass legislation in parliament.

But this time, the Left, which now holds 28 seats in parliament, was excluded as Lofven shifted toward the centre.

The Left had considered blocking Lofven's election, arguing that he had given away too much to the centre-right, but decided against it in order to block the Sweden Democrats from wielding any influence.

The Left Party reiterated its warning Friday that while it allowed Lofven's re-election, that did not mean the party was giving the new government carte blanche.

It said it was ready to topple the new administration if it went ahead with its proposed plans for the labour market and market rates for rentals.&nbsp;

Petersson said the threat was an empty one because it would be "political suicide" to carry it out.

"At least 35 MPs are required to table a motion of non-confidence. The Left only controls 28 seats," the analyst said.

"It would be political suicide if the Left reached out to the conservative Moderates, the Christian Democrats or the Sweden Democrats to secure the 35 seats necessary."

The Moderates and Christian Democrats, the other two parties in the Alliance, together hold 92 seats.

Opposition leader Kristersson of the Moderates criticised the new government as "very shaky".

"The Left is threatening to topple it if it goes through with its reform pledges, and the Centre and Liberals are threatening to topple it if it doesn't. This is a government without a political compass or direction," he said.

Sweden ended a four-month political vacuum Friday when lawmakers elected Prime Minister Stefan Lofven to a second term after he elbowed out the far-right to save one of Europe's few leftwing governments.

Sweden ended a four-month political vacuum Friday when lawmakers elected Prime Minister Stefan Lofven to a second term after he elbowed out the far-right to save one of Europe's few leftwing governments. Lofven, 61, may have won a victory, but the former welder and union leader emerges weakened by months of wrangling in the wake of September's inconclusive legislative elections that forced him to make major concessions to centre-right parties to win their support. Lofven will formally present his new minority centre-left government, comprising his Social Democrats and the Greens, and its programme on Monday. His new administration will be one of the weakest in Sweden in 70 years, with just 32.7 per cent of voters have cast ballots for the two parties. He therefore secured the backing of the Centre and Liberal parties, until now members of the four-party, centre-right opposition Alliance, agreeing to a policy document that includes, among other things, the introduction of market rates for newly produced rental housing and easing Sweden's strict labour laws. Together, the four parties hold 167 of 349 seats in parliament, eight fewer than the 175 that constitutes a majority in the Riksdag. 'We stand up for democracy' "All around our world we see the rising influence of rightwing extremism. But in Sweden we stand up for democracy, for people's equal rights," Lofven said after the vote. "Sweden will have a vigorous government that is not dependent on the (far-right) Sweden Democrats," he stressed. The nationalist and anti-immigration Sweden Democrats came third in the legislative elections in September with 17.6 per cent of the vote, putting the party in a position to act as kingmaker. In the long weeks that followed, both Lofven and the head of the rightwing opposition Alliance, Ulf Kristersson, failed repeatedly to form a government. Neither was able to build a majority due to their refusal to negotiate with the Sweden Democrats, with lawmakers rejecting both of the party's nominations for prime minister. "For a long time Swedish politics was dominated by a two-bloc conflict. After the rise of the Sweden Democrats, a three-block situation occurred. Now the situation has changed dramatically," political scientist Olof Petersson told AFP. Divide and conquer Lofven was the most shrewd in the post-election negotiations, analysts said. "Lofven has reached his strategic goals: to remain in power and to split up the non-socialist Alliance opposition," Petersson said. But the deal between the coalition and centre-right parties contains "worrisome" elements for the left wing, in particular, tax policies that "risk increasing inequalities in Swedish society," said Gothenburg University political science professor Ulf Bjereld, who is affiliated with the Social Democrats. The ex-communist Left Party had backed Lofven's previous minority government since 2014, helping pass legislation in parliament. But this time, the Left, which now holds 28 seats in parliament, was excluded as Lofven shifted toward the centre. The Left had considered blocking Lofven's election, arguing that he had given away too much to the centre-right, but decided against it in order to block the Sweden Democrats from wielding any influence. The Left Party reiterated its warning Friday that while it allowed Lofven's re-election, that did not mean the party was giving the new government carte blanche. It said it was ready to topple the new administration if it went ahead with its proposed plans for the labour market and market rates for rentals. Petersson said the threat was an empty one because it would be "political suicide" to carry it out. "At least 35 MPs are required to table a motion of non-confidence. The Left only controls 28 seats," the analyst said. "It would be political suicide if the Left reached out to the conservative Moderates, the Christian Democrats or the Sweden Democrats to secure the 35 seats necessary." The Moderates and Christian Democrats, the other two parties in the Alliance, together hold 92 seats. Opposition leader Kristersson of the Moderates criticised the new government as "very shaky". "The Left is threatening to topple it if it goes through with its reform pledges, and the Centre and Liberals are threatening to topple it if it doesn't. This is a government without a political compass or direction," he said.

Swedish centre-left PM wins second term after months of wrangling

The top Democrat in Congress on Wednesday urged <a href="http://www.wionews.com/world/stupid-to-suggest-trump-is-working-for-russia-top-putin-aide-190814">President Donald Trump</a> to postpone his upcoming annual State of the Union address, citing security shortcomings due to the ongoing partial government shutdown.

Trump was due to deliver his speech, in which a president lays out his legislative agenda and provides an economic status report to the nation, on January 29.

"Sadly, given the security concerns and unless government re-opens this week, I suggest that we work together to determine another suitable date after government has re-opened for this address or for you to consider delivering (it) in writing to the Congress on January 29th," House Speaker Nancy Pelosi said in a letter to the president.

The United States is in the grips of its longest-ever government shutdown, with about 25 per cent of federal agencies and offices shuttered.&nbsp;

The US Secret Service, which is charged with the protection of the president, provides security for what are known as national special security events, including the State of the Union.&nbsp;

"However, both the US Secret Service and the Department of Homeland Security have not been funded for 26 days now -– with critical departments hamstrung by furloughs," Pelosi noted in her letter.

She also said that "since the start of modern budgeting in Fiscal Year 1977, a State of the Union address has never been delivered during a government shutdown."

The notion that Trump, a billionaire businessman who dramatically boosted his national prominence through his reality television show "The Apprentice," would send in a written version of his address seems quaint in today's screen-dominated digital era.

But Pelosi pointed out that up until Woodrow Wilson's presidency in the early 20th century, "these annual State of the Union messages were delivered to Congress in writing."

The top Democrat in Congress on Wednesday urged President Donald Trump to postpone his upcoming annual State of the Union address, citing security shortcomings due to the ongoing partial government shutdown.

The top Democrat in Congress on Wednesday urged President Donald Trump to postpone his upcoming annual State of the Union address, citing security shortcomings due to the ongoing partial government shutdown. Trump was due to deliver his speech, in which a president lays out his legislative agenda and provides an economic status report to the nation, on January 29. "Sadly, given the security concerns and unless government re-opens this week, I suggest that we work together to determine another suitable date after government has re-opened for this address or for you to consider delivering (it) in writing to the Congress on January 29th," House Speaker Nancy Pelosi said in a letter to the president. The United States is in the grips of its longest-ever government shutdown, with about 25 per cent of federal agencies and offices shuttered. The US Secret Service, which is charged with the protection of the president, provides security for what are known as national special security events, including the State of the Union. "However, both the US Secret Service and the Department of Homeland Security have not been funded for 26 days now -– with critical departments hamstrung by furloughs," Pelosi noted in her letter. She also said that "since the start of modern budgeting in Fiscal Year 1977, a State of the Union address has never been delivered during a government shutdown." The notion that Trump, a billionaire businessman who dramatically boosted his national prominence through his reality television show "The Apprentice," would send in a written version of his address seems quaint in today's screen-dominated digital era. But Pelosi pointed out that up until Woodrow Wilson's presidency in the early 20th century, "these annual State of the Union messages were delivered to Congress in writing."

Top Democrat urges Trump to delay State of Union until government reopens

India's GDP (gross domestic product) is estimated to grow at 7.2 per cent in 2018-19 compared to 6.7 per cent attained during the previous fiscal, official data showed here on Monday.

The annual economic growth had fallen to a worse-than-expected 7.1 per cent in the July-September quarter, from 8.2 per cent in the previous quarter, dragged down by a slower consumer spending and farm growth, posing a risk to Modi who plans a populist budget to win back voters.

With the fall in global crude oil prices and strengthening of the rupee in recent weeks, the Modi administration plans to prop up rural demand through higher state spending and a financial package for farmers in the annual budget to be presented on February 1.

Gross domestic product is estimated to grow 7.2 per cent in 2018/19, faster than a provisional 6.7 per cent growth in 2017/18, Ministry of Statistics said in a statement.

Manufacturing is now forecast to grow 8.3 per cent this fiscal year compared with 5.7 per cent in the previous year. Farm output may grow by 3.8 per cent, up from 3.4 per cent.

Most private economists have already lowered India`s growth forecast to around 7 per cent for the 2018/19 fiscal year, compared with the Reserve Bank of India`s earlier estimate of 7.4 per cent, citing weakening consumption and a slowdown in credit offtake.

"Sequential growth has slowed down across the board. The slowdown in manufacturing, construction and select services are the main reasons for slowdown seen in 2018/19," said Rupa Rege-Nitsure, chief economist at L&amp;T Financial Holdings Ltd.

She said the government could prop up rural demand ahead of the elections and the first half of 2019 could remain volatile due to political uncertainty and global headwinds.

Having swept to power in 2014 promising to galvanise the economy, Modi has been criticised for failing to create enough jobs for the more than 12 million young Indians entering the labour force each year.

India needs growth of 8 per cent-plus to generate enough jobs for those workers.

The unemployment rate shot to a 27-month high of 7.38 per cent in December and numbers of those employed fell by about 11 million over the last 12 months, data released by the Centre for Monitoring Indian Economy, a Mumbai-based think tank, showed.

The statistics office will release economic growth data for the October-December quarter on Feb. 28, along with revised full-year growth estimates.

India's GDP (gross domestic product) is estimated to grow at 7.2 per cent in 2018-19 compared to 6.7 per cent attained during the previous fiscal, official data showed here on Monday.

India's GDP (gross domestic product) is estimated to grow at 7.2 per cent in 2018-19 compared to 6.7 per cent attained during the previous fiscal, official data showed here on Monday. The annual economic growth had fallen to a worse-than-expected 7.1 per cent in the July-September quarter, from 8.2 per cent in the previous quarter, dragged down by a slower consumer spending and farm growth, posing a risk to Modi who plans a populist budget to win back voters. With the fall in global crude oil prices and strengthening of the rupee in recent weeks, the Modi administration plans to prop up rural demand through higher state spending and a financial package for farmers in the annual budget to be presented on February 1. Gross domestic product is estimated to grow 7.2 per cent in 2018/19, faster than a provisional 6.7 per cent growth in 2017/18, Ministry of Statistics said in a statement. Manufacturing is now forecast to grow 8.3 per cent this fiscal year compared with 5.7 per cent in the previous year. Farm output may grow by 3.8 per cent, up from 3.4 per cent. Most private economists have already lowered India`s growth forecast to around 7 per cent for the 2018/19 fiscal year, compared with the Reserve Bank of India`s earlier estimate of 7.4 per cent, citing weakening consumption and a slowdown in credit offtake. "Sequential growth has slowed down across the board. The slowdown in manufacturing, construction and select services are the main reasons for slowdown seen in 2018/19," said Rupa Rege-Nitsure, chief economist at L&T Financial Holdings Ltd. She said the government could prop up rural demand ahead of the elections and the first half of 2019 could remain volatile due to political uncertainty and global headwinds. Having swept to power in 2014 promising to galvanise the economy, Modi has been criticised for failing to create enough jobs for the more than 12 million young Indians entering the labour force each year. India needs growth of 8 per cent-plus to generate enough jobs for those workers. The unemployment rate shot to a 27-month high of 7.38 per cent in December and numbers of those employed fell by about 11 million over the last 12 months, data released by the Centre for Monitoring Indian Economy, a Mumbai-based think tank, showed. The statistics office will release economic growth data for the October-December quarter on Feb. 28, along with revised full-year growth estimates.

Government estimates GDP growth at 7.2% for 2018-19

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, <a href="http://www.wionews.com/india-news/government-not-seeking-rbi-reserves-to-meet-fiscal-deficit-arun-jaitley-187546">Finance Minister Arun Jaitley</a> Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme.

He further said, on an average 5,000 claims are being settled every day since its roll out on September 23, 2018.

"Once awareness of the scheme increases, It is anticipated that in the next few years, almost 1 crore plus families will benefit each year," Jaitley said in a Facebook post titled '100 days of Ayushman Bharat'.

The total number of hospitals covered by this scheme are both Government hospitals and private hospitals presently numbering 16,000 and increasing steadily. More than 50 per cent of the implementing hospitals are in the private sector.

Jaitley said in the first 100 days, 6.85 lakh patients have been provided hospital treatment and 5.1 lakh claims have availed of the scheme, for which payment has been released.

Prime Minister Narendra Modi in September launched the Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana which aims to provide a coverage of Rs 5 lakh per family annually, benefiting more than 10.74 crore poor families or over 50 crore people for secondary and tertiary care hospitalisation through a network of empanelled health care providers Jaitley said this scheme is a "game changer" in healthcare and will cover 40 per cent of country's population which cannot afford to pay their medical bills.

"Many people from the weaker sections avoided hospital treatment in order to avoid the burden of an unbearable payment. Today 40 per cent of India's poorest are assured of a treatment in a hospital at the cost of public expenditure," he said.

He said although government employees, armed forces personnel and some corporate employees have healthcare support facilities, but 62.58 per cent of the Indian population has to pay their healthcare bills themselves and most find it unaffordable.

He said the launch and implementation of the scheme, which is cashless and paperless, has been relatively problem free.

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, Finance Minister Arun Jaitley Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme.

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, Finance Minister Arun Jaitley Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme. He further said, on an average 5,000 claims are being settled every day since its roll out on September 23, 2018. "Once awareness of the scheme increases, It is anticipated that in the next few years, almost 1 crore plus families will benefit each year," Jaitley said in a Facebook post titled '100 days of Ayushman Bharat'. The total number of hospitals covered by this scheme are both Government hospitals and private hospitals presently numbering 16,000 and increasing steadily. More than 50 per cent of the implementing hospitals are in the private sector. Jaitley said in the first 100 days, 6.85 lakh patients have been provided hospital treatment and 5.1 lakh claims have availed of the scheme, for which payment has been released. Prime Minister Narendra Modi in September launched the Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana which aims to provide a coverage of Rs 5 lakh per family annually, benefiting more than 10.74 crore poor families or over 50 crore people for secondary and tertiary care hospitalisation through a network of empanelled health care providers Jaitley said this scheme is a "game changer" in healthcare and will cover 40 per cent of country's population which cannot afford to pay their medical bills. "Many people from the weaker sections avoided hospital treatment in order to avoid the burden of an unbearable payment. Today 40 per cent of India's poorest are assured of a treatment in a hospital at the cost of public expenditure," he said. He said although government employees, armed forces personnel and some corporate employees have healthcare support facilities, but 62.58 per cent of the Indian population has to pay their healthcare bills themselves and most find it unaffordable. He said the launch and implementation of the scheme, which is cashless and paperless, has been relatively problem free.

Ayushman Bharat a 'game changer', 6.85 lakh patients treated in 100 days: Arun Jaitley

The government has appointed Sudhir Bhargava as new Chief Information Commissioner (CIC) along with four new Information Commissioners in the Central Information Commission which had been functioning with just three of them as against a sanctioned strength of 11, including the Chief Information Commissioner.

Highly placed sources said Bhargava, who is Information Commissioner in the CIC, has been appointed as new chief of the panel.

President Ram Nath Kovind has approved the appointment of former IFS officer Yashwardhan Kumar Sinha, former IRS officer Vanaja N Sarna, former IAS Neeraj Kumar Gupta and former Law Secretary Suresh Chandra as Information Commissioners in the Central Information Commission, a government order accessed by PTI said.

Sinha is a 1981-batch Indian Foreign Service officer who was the High Commissioner of India in the United Kingdom.

An alumnus of St Michael's High School in Patna and St Stephen's College in Delhi, Sinha had served a number of important postings in the Ministry of External Affairs including the crucial Pakistan-Afghanistan-Iran Division, which he headed for four years as Additional Secretary.

The only woman in the CIC will be Sarna, a 1980-batch Indian Revenue Service (Customs and Excise) officer, who was the Chief of Central Board of Excise and Customs (CBEC).

Neeraj Kumar Gupta, a 1982-batch IAS officer, was Secretary in the Department of Investment and Public Asset Management.

Chandra, an Indian Legal Service officer, retired as Union law secretary this year and was also private secretary to the then Law Minister Arun Jaitley between 2002 and 2004.

All the bureaucrats appointed by the government have retired this year.

After recent retirements of Chief Information Commissioner R K Mathur and Information Commissioners Yashovardhan Azad, Sridhar Acharyulu and Amitava Bhattacharyya, the Commission, the highest adjudicating authority in RTI matters, was left with three Information Commissioners, prompting activists to approach the Supreme Court on the issue of vacancies.

The Supreme Court had asked the Centre and states to maintain transparency in appointments of Chief Information Commissioner and Information Commissioners and upload the details of search committees and applicants on website.

Commenting on the appointment process, Commodore Lokesh Batra, one of the petitioners in the case, said the government has failed to comply with the Supreme Court directions of posting the details on website.

"As my gut feeling said, the government did not comply with the Supreme Court directions viz transparency as it did not post details on its website," Batra told PTI.

During the hearing, the Centre had told the top court that the search committee has shortlisted names for the post of CIC and a final decision will be taken soon.

A bench of Justices A K Sikri, S Abdul Nazeer and R Subhash Reddy asked the Centre to put on the website details of search committee for CIC and ICs.

Additional Solicitor General Pinky Anand, appearing for the Centre, had informed the court that a total of 65 applications were received for the CIC post and 280 applications for the post of four ICs in the Central Information Commission.

She had said that after these posts are filled up, notification will be issued for inviting applications for remaining posts of ICs.

The Centre seems to have ignored the plea of former Information Commissioner Sridhar Acharyulu who had called for adequate representation of non-bureaucrats in the Commission in accordance with the Right to Information (RTI) Act.

Citing Section 12 (5) of the RTI Act, he had written to the President that the Act provides for selecting people of eminence, having experience in law, science and technology, social service, management, journalism, mass media or administration and governance.

If the government selects more number of former bureaucrats for these posts, it will be a breach of the letter and spirit of the transparency law and more particularly that of Section 12(5) of the RTI Act, which may not stand the scrutiny by the judiciary, he argued.&nbsp;

The government has appointed Sudhir Bhargava as new Chief Information Commissioner (CIC) along with four new Information Commissioners in the Central Information Commission which had been functioning with just three of them as against a sanctioned strength of 11, including the Chief Information Commissioner.

The government has appointed Sudhir Bhargava as new Chief Information Commissioner (CIC) along with four new Information Commissioners in the Central Information Commission which had been functioning with just three of them as against a sanctioned strength of 11, including the Chief Information Commissioner. Highly placed sources said Bhargava, who is Information Commissioner in the CIC, has been appointed as new chief of the panel. President Ram Nath Kovind has approved the appointment of former IFS officer Yashwardhan Kumar Sinha, former IRS officer Vanaja N Sarna, former IAS Neeraj Kumar Gupta and former Law Secretary Suresh Chandra as Information Commissioners in the Central Information Commission, a government order accessed by PTI said. Sinha is a 1981-batch Indian Foreign Service officer who was the High Commissioner of India in the United Kingdom. An alumnus of St Michael's High School in Patna and St Stephen's College in Delhi, Sinha had served a number of important postings in the Ministry of External Affairs including the crucial Pakistan-Afghanistan-Iran Division, which he headed for four years as Additional Secretary. The only woman in the CIC will be Sarna, a 1980-batch Indian Revenue Service (Customs and Excise) officer, who was the Chief of Central Board of Excise and Customs (CBEC). Neeraj Kumar Gupta, a 1982-batch IAS officer, was Secretary in the Department of Investment and Public Asset Management. Chandra, an Indian Legal Service officer, retired as Union law secretary this year and was also private secretary to the then Law Minister Arun Jaitley between 2002 and 2004. All the bureaucrats appointed by the government have retired this year. After recent retirements of Chief Information Commissioner R K Mathur and Information Commissioners Yashovardhan Azad, Sridhar Acharyulu and Amitava Bhattacharyya, the Commission, the highest adjudicating authority in RTI matters, was left with three Information Commissioners, prompting activists to approach the Supreme Court on the issue of vacancies. The Supreme Court had asked the Centre and states to maintain transparency in appointments of Chief Information Commissioner and Information Commissioners and upload the details of search committees and applicants on website. Commenting on the appointment process, Commodore Lokesh Batra, one of the petitioners in the case, said the government has failed to comply with the Supreme Court directions of posting the details on website. "As my gut feeling said, the government did not comply with the Supreme Court directions viz transparency as it did not post details on its website," Batra told PTI. During the hearing, the Centre had told the top court that the search committee has shortlisted names for the post of CIC and a final decision will be taken soon. A bench of Justices A K Sikri, S Abdul Nazeer and R Subhash Reddy asked the Centre to put on the website details of search committee for CIC and ICs. Additional Solicitor General Pinky Anand, appearing for the Centre, had informed the court that a total of 65 applications were received for the CIC post and 280 applications for the post of four ICs in the Central Information Commission. She had said that after these posts are filled up, notification will be issued for inviting applications for remaining posts of ICs. The Centre seems to have ignored the plea of former Information Commissioner Sridhar Acharyulu who had called for adequate representation of non-bureaucrats in the Commission in accordance with the Right to Information (RTI) Act. Citing Section 12 (5) of the RTI Act, he had written to the President that the Act provides for selecting people of eminence, having experience in law, science and technology, social service, management, journalism, mass media or administration and governance. If the government selects more number of former bureaucrats for these posts, it will be a breach of the letter and spirit of the transparency law and more particularly that of Section 12(5) of the RTI Act, which may not stand the scrutiny by the judiciary, he argued.

Government appoints Sudhir Bhargava as new Chief Information Commissioner

India's finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters.

The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding payments to NIOC. Those have been building up since Tehran was put under stringent US sanctions in early November.

The two countries on November 2 signed a bilateral agreement to settle oil trades through an Indian government-owned bank, UCO Bank, in the Indian currency, which is not freely traded on international markets.&nbsp;

However, the income of a foreign company that is deposited in an Indian bank account is subject to a withholding tax of 40 per cent plus other levies, leading to a total take by the authorities of 42.5 per cent.

That made the agreement unworkable for Iran and led to the freeze in payments by the refiners until the exemption could be introduced.

Iran will be able to use the rupee funds for a range of expenses - including&nbsp;imports from India, the cost of its missions in the country, direct investment in Indian projects, and its financing of Iranian students in India, according to another government document reviewed by Reuters. It can also invest the funds in Indian government debt securities.

"In the previous round of sanctions Iran was allowed to use funds for imports from India but this time we have expanded the scope for use of funds to benefit both nations," said an Indian government official, who declined to be named because of the sensitivity of the issue.

The move may help India fix its trade balance, which is currently tilted in favour of Iran.

PAYMENTS TO START SOON

The tax exemption order, though, only refers to crude oil. That means it does not apply to imports of other commodities, such as fertiliser, liquefied petroleum gas and wax.

India, Iran`s top oil client after China, has turned to paying for Iranian oil in rupees as major banking channels dealing in global currencies are closed off by the US sanctions.

"Passing of this notification eases constraints for Indian refiners to make payment," said Sanjay Sudhir, joint Secretary in India`s oil ministry.

An official from India`s top refiner and Iran`s top customer in the country, Indian Oil Corp, said his company would start making payments to Iran from January.

The finance ministry did not respond to a request for comment. Indian Oil Corp and UCO Bank also did not respond.

Last month, the United States introduced the sanctions aimed at crippling Iran`s oil revenue-dependent economy because of its nuclear and ballistic missile programmes and its support for militant proxies in the Middle East.&nbsp;

Washington did, though, give a six-month waiver from sanctions to eight nations, including India, and allowed them to import some Iranian oil.

India`s overall imports from Iran totalled about $11 billion in April-November 2018, with oil accounting for about 90 per cent of the imports.

Iran will be able to register as a foreign portfolio investor, allowing it to invest in Indian government debt.

The direct investment provision could help Iran in participating in Indian oil refiner Chennai Petroleum Corp Ltd`s expansion plans. Iran owns 15.4 per cent of the company.

Iran which used to be the third biggest oil supplier to India slipped to No. 6 in November, according to ship-tracking data and industry sources.

India's finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters.

India's finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding payments to NIOC. Those have been building up since Tehran was put under stringent US sanctions in early November. The two countries on November 2 signed a bilateral agreement to settle oil trades through an Indian government-owned bank, UCO Bank, in the Indian currency, which is not freely traded on international markets. However, the income of a foreign company that is deposited in an Indian bank account is subject to a withholding tax of 40 per cent plus other levies, leading to a total take by the authorities of 42.5 per cent. That made the agreement unworkable for Iran and led to the freeze in payments by the refiners until the exemption could be introduced. Iran will be able to use the rupee funds for a range of expenses - including imports from India, the cost of its missions in the country, direct investment in Indian projects, and its financing of Iranian students in India, according to another government document reviewed by Reuters. It can also invest the funds in Indian government debt securities. "In the previous round of sanctions Iran was allowed to use funds for imports from India but this time we have expanded the scope for use of funds to benefit both nations," said an Indian government official, who declined to be named because of the sensitivity of the issue. The move may help India fix its trade balance, which is currently tilted in favour of Iran. PAYMENTS TO START SOON The tax exemption order, though, only refers to crude oil. That means it does not apply to imports of other commodities, such as fertiliser, liquefied petroleum gas and wax. India, Iran`s top oil client after China, has turned to paying for Iranian oil in rupees as major banking channels dealing in global currencies are closed off by the US sanctions. "Passing of this notification eases constraints for Indian refiners to make payment," said Sanjay Sudhir, joint Secretary in India`s oil ministry. An official from India`s top refiner and Iran`s top customer in the country, Indian Oil Corp, said his company would start making payments to Iran from January. The finance ministry did not respond to a request for comment. Indian Oil Corp and UCO Bank also did not respond. Last month, the United States introduced the sanctions aimed at crippling Iran`s oil revenue-dependent economy because of its nuclear and ballistic missile programmes and its support for militant proxies in the Middle East. Washington did, though, give a six-month waiver from sanctions to eight nations, including India, and allowed them to import some Iranian oil. India`s overall imports from Iran totalled about $11 billion in April-November 2018, with oil accounting for about 90 per cent of the imports. Iran will be able to register as a foreign portfolio investor, allowing it to invest in Indian government debt. The direct investment provision could help Iran in participating in Indian oil refiner Chennai Petroleum Corp Ltd`s expansion plans. Iran owns 15.4 per cent of the company. Iran which used to be the third biggest oil supplier to India slipped to No. 6 in November, according to ship-tracking data and industry sources.

India exempts rupee payments for Iran oil from hefty taxes: Government order

British authorities have informed India that bank fraud fugitive <a href="http://www.wionews.com/india-news/efforts-on-to-bring-back-29-economic-offenders-including-vijay-mallya-nirav-modi-mehul-choksi-government-185383">Nirav Modi</a> is living in the UK, the government has said.

Replying to a question, Minister of State for External Affairs V K Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location of Nirav Modi in the UK.

"In August 2018, the government sent two requests, one from the CBI and the other from the Enforcement Directorate, to the authorities of the UK seeking the extradition of Nirav Modi to India," he said.

He said the requests are presently under the consideration of the authorities concerned of the UK.

In June, the Ministry of External Affairs (MEA) had written to several European countries seeking help in tracing Nirav Modi.

Nirav Modi is wanted in connection with Punjab National Bank fraud case.

British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said. Replying to a question, Minister of State for External Affairs V K Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location of Nirav Modi in the UK.

British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said. Replying to a question, Minister of State for External Affairs V K Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location of Nirav Modi in the UK. "In August 2018, the government sent two requests, one from the CBI and the other from the Enforcement Directorate, to the authorities of the UK seeking the extradition of Nirav Modi to India," he said. He said the requests are presently under the consideration of the authorities concerned of the UK. In June, the Ministry of External Affairs (MEA) had written to several European countries seeking help in tracing Nirav Modi. Nirav Modi is wanted in connection with Punjab National Bank fraud case.

Nirav Modi located in UK, British authorities inform India: Government

The Centre Friday said in the Lok Sabha that there was no other option left with the Governor but to recommend President's Rule in Jammu and Kashmir as no party or alliance staked claim to form government and asserted that it was ready to hold assembly polls in the state.

Replying to a discussion on the resolution on a presidential proclamation about imposition of President's Rule in the state, <a href="Rajnath Singh targets Congress for opposing triple talaq bill in Lok Sabha">Home Minister Rajnath Singh</a> also rejected claims of some opposition parties that the BJP was propping up a regional party to form government.

The resolution was adopted by a voice vote.

If the BJP wanted to indulge in horse-trading to form government, then it would have done so during the six-month Governor's Rule, he said.

The Home Minister said the then Governor N N Vohra had sent a report in June after speaking to leaders of all major parties that none of them had expressed any intention to form a government.

The Central government would take no wrong or immoral action in the state, Singh asserted, saying it is ready for assembly polls but the decision has to be taken by the Election Commission.

"We are totally committed to democratic process," he said.&nbsp;

The Centre Friday said in the Lok Sabha that there was no other option left with the Governor but to recommend President's Rule in Jammu and Kashmir as no party or alliance staked claim to form government and asserted that it was ready to hold assembly polls in the state.

The Centre Friday said in the Lok Sabha that there was no other option left with the Governor but to recommend President's Rule in Jammu and Kashmir as no party or alliance staked claim to form government and asserted that it was ready to hold assembly polls in the state. Replying to a discussion on the resolution on a presidential proclamation about imposition of President's Rule in the state, Home Minister Rajnath Singh also rejected claims of some opposition parties that the BJP was propping up a regional party to form government. The resolution was adopted by a voice vote. If the BJP wanted to indulge in horse-trading to form government, then it would have done so during the six-month Governor's Rule, he said. The Home Minister said the then Governor N N Vohra had sent a report in June after speaking to leaders of all major parties that none of them had expressed any intention to form a government. The Central government would take no wrong or immoral action in the state, Singh asserted, saying it is ready for assembly polls but the decision has to be taken by the Election Commission. "We are totally committed to democratic process," he said.

Government ready to hold assembly polls in Jammu & Kashmir: Rajnath Singh

India will announce a new draft policy for<a href="http://www.wionews.com/business-economy/flipkart-amazon-sale-may-become-history-as-govt-tightens-e-commerce-norms-186710"> e-commerce in a few weeks</a>, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

The new e-commerce policy could entail provisions for a regulator in the sector dominated by US tech giant Amazon.com and homegrown Flipkart, which was bought over by retail giant Walmart for $16 billion earlier this year.

India on Wednesday introduced changes to foreign direct investment rules, banning e-commerce players from selling products from entities in which they have an equity interest, a move the source said was aimed at preventing anti-competitive practices. The source declined to be named as the matter was not public.

Meanwhile, the Indian government said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1.

"An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity," the commerce ministry said in a statement.

E-commerce companies can make bulk purchases through their wholesale units or other group companies that in turn sell the products to select sellers, such as their affiliates or other companies with which they have agreements. Those sellers can then sell the products to other companies or direct to consumers, often at attractively low prices.

India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector. The new e-commerce policy could entail provisions for a regulator in the sector dominated by US tech giant Amazon.com and homegrown Flipkart, which was bought over by retail giant Walmart for $16 billion earlier this year. India on Wednesday introduced changes to foreign direct investment rules, banning e-commerce players from selling products from entities in which they have an equity interest, a move the source said was aimed at preventing anti-competitive practices. The source declined to be named as the matter was not public. Meanwhile, the Indian government said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1. "An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity," the commerce ministry said in a statement. E-commerce companies can make bulk purchases through their wholesale units or other group companies that in turn sell the products to select sellers, such as their affiliates or other companies with which they have agreements. Those sellers can then sell the products to other companies or direct to consumers, often at attractively low prices.

Online shopping set to change: Govt to issue draft e-commerce policy in a few weeks

Government to introduce revised Triple Talaq bill today

BJP MLA and former minister P Manikyala Rao Tuesday sent his "resignation" letter to Andhra Pradesh Chief Minister N Chandrababu Naidu protesting the state government's 'failure' to implement the promises made to his Tadepalligudem constituency.

Rao also threatened to go on an indefinite fast if the chief minister did not address the issues within 15 days.

Naidu, however, brushed it aside saying the resignation was "politically motivated."

Manikyala Rao served as the Endowments minister in the Naidu Cabinet from June 2014 to March 2018 when the TDP and the BJP were in alliance.

He quit as minister after the TDP pulled out of the NDA and severed ties with the BJP.

Addressing a press conference in his hometown, Rao alleged the Naidu government totally neglected the development of West Godavari district in general and Tadepalligudem Assembly constituency in particular.

"For the past three months, I have been repeatedly requesting the chief minister to resolve the problems related to my constituency but to no avail.&nbsp;

The government has not been taking up any development in the constituency only because the TDP doesn't exist here," he alleged.

"I feel ashamed being a member of the House. Develop the constituency at least by removing me. You may forward my resignation to the Assembly Speaker," Rao said in the letter.

Asked about this, the Chief Minister said at a press conference that he would have been happy if the MLA resigned in protest against the Centre's indifference towards Polavaram project.

"West Godavari is special to me as people of the district gave me all the 15 Assembly seats. I will do everything for the district's development even going out of the way. The MLA's resignation is politically motivated," Chandrababu remarked.&nbsp;

BJP MLA and former minister P Manikyala Rao Tuesday sent his "resignation" letter to Andhra Pradesh Chief Minister N Chandrababu Naidu protesting the state government's 'failure' to implement the promises made to his Tadepalligudem constituency.

BJP MLA and former minister P Manikyala Rao Tuesday sent his "resignation" letter to Andhra Pradesh Chief Minister N Chandrababu Naidu protesting the state government's 'failure' to implement the promises made to his Tadepalligudem constituency. Rao also threatened to go on an indefinite fast if the chief minister did not address the issues within 15 days. Naidu, however, brushed it aside saying the resignation was "politically motivated." Manikyala Rao served as the Endowments minister in the Naidu Cabinet from June 2014 to March 2018 when the TDP and the BJP were in alliance. He quit as minister after the TDP pulled out of the NDA and severed ties with the BJP. Addressing a press conference in his hometown, Rao alleged the Naidu government totally neglected the development of West Godavari district in general and Tadepalligudem Assembly constituency in particular. "For the past three months, I have been repeatedly requesting the chief minister to resolve the problems related to my constituency but to no avail. The government has not been taking up any development in the constituency only because the TDP doesn't exist here," he alleged. "I feel ashamed being a member of the House. Develop the constituency at least by removing me. You may forward my resignation to the Assembly Speaker," Rao said in the letter. Asked about this, the Chief Minister said at a press conference that he would have been happy if the MLA resigned in protest against the Centre's indifference towards Polavaram project. "West Godavari is special to me as people of the district gave me all the 15 Assembly seats. I will do everything for the district's development even going out of the way. The MLA's resignation is politically motivated," Chandrababu remarked.

Andhra Pradesh: BJP MLA 'resigns' over government's failure to fulfil promises

India is working towards a single <a href="http://www.wionews.com/india-news/gst-council-slashes-rates-of-7-items-from-28-jaitley-calls-meeting-fruitful-185843">national sales tax rate</a> which could be a mid-point between 12 and 18 per cent, finance minister Arun Jaitley said on Monday, in an effort to simplify the tax structure.

The government set the range for the <a href="http://www.wionews.com/india-news/opposition-ruled-states-oppose-rate-cuts-in-gst-citing-revenue-consideration-185889">Goods and Service Tax</a> from 28 per cent to 5 per cent on most items when the signature reform was introduced last year.

<div class="ui-state-default" contenteditable="false">
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Eighteen Months of the GST <a href="https://t.co/eIU3DCd90l">https://t.co/eIU3DCd90l</a>
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1077079145186803713?ref_src=twsrc%5Etfw">December 24, 2018</a></blockquote>
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&nbsp;

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The GST from the date of its implementation, has changed the situation radically. All seventeen taxes were combined into one. The whole of India became one market. The interstate barriers disappeared. Entry into the cities became open with abolition of the entry tax.
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1077083957848616960?ref_src=twsrc%5Etfw">December 24, 2018</a></blockquote>
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"Multiple slabs were fixed transiently in order to ensure the tax of no commodity goes up radically. This contained the inflation impact," Jaitley wrote in his blog.

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Multiple slabs were fixed transiently in order to ensure the tax on no commodity goes up radically. This contained the inflation impact. Most Aam Aadmi items were placed in the 0 or 5% tax bracket. Returns became online; assessments will be online; multiple inspectors disappeared
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1077084558707908610?ref_src=twsrc%5Etfw">December 24, 2018</a></blockquote>
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"A future roadmap could well be to work towards a single standard rate instead of two standard rates of 12 per cent and 18 per cent. It could be a rate at some mid-point between the two."

He also said the country should look towards having slabs of zero, five per cent and a standard rate for luxury and sin goods (alcohol, drugs, cigarettes, etc).

The government will also look at transferring cement into a lower tax slab as the next priority, he wrote.

India is working towards a single national sales tax rate which could be a mid-point between 12 and 18 per cent, finance minister Arun Jaitley said on Monday, in an effort to simplify the tax structure.

India is working towards a single national sales tax rate which could be a mid-point between 12 and 18 per cent, finance minister Arun Jaitley said on Monday, in an effort to simplify the tax structure. The government set the range for the Goods and Service Tax from 28 per cent to 5 per cent on most items when the signature reform was introduced last year. Eighteen Months of the GST https://t.co/eIU3DCd90l — Arun Jaitley (@arunjaitley) December 24, 2018 × The GST from the date of its implementation, has changed the situation radically. All seventeen taxes were combined into one. The whole of India became one market. The interstate barriers disappeared. Entry into the cities became open with abolition of the entry tax. — Arun Jaitley (@arunjaitley) December 24, 2018 × "Multiple slabs were fixed transiently in order to ensure the tax of no commodity goes up radically. This contained the inflation impact," Jaitley wrote in his blog. Multiple slabs were fixed transiently in order to ensure the tax on no commodity goes up radically. This contained the inflation impact. Most Aam Aadmi items were placed in the 0 or 5% tax bracket. Returns became online; assessments will be online; multiple inspectors disappeared — Arun Jaitley (@arunjaitley) December 24, 2018 × "A future roadmap could well be to work towards a single standard rate instead of two standard rates of 12 per cent and 18 per cent. It could be a rate at some mid-point between the two." He also said the country should look towards having slabs of zero, five per cent and a standard rate for luxury and sin goods (alcohol, drugs, cigarettes, etc). The government will also look at transferring cement into a lower tax slab as the next priority, he wrote.

Future GST roadmap will be to work towards single standard rate: Jaitley

The government is considering an additional soft loan of Rs 7,400 crore to sugar mills for <a href="http://www.wionews.com/business-economy/india-plans-to-export-two-million-tonnes-of-sugar-to-china-from-next-year-176213">creating ethanol capacity </a>under a recently launched scheme, according to sources.

The food ministry is also considering tweaking the scheme to ensure that non-molasses-based distilleries are also able to avail soft loans under the scheme launched in June for expansion and setting up of new ethanol plants.

Under the scheme, the government had announced a soft loan of Rs 4,400 crore and provided an interest subvention of Rs 1,332 crore to mills over a period of five years, including a moratorium period of one year.

However, the ministry has received 282 applications seeking Rs 13,400 crore soft loans. Out of this, 114 applications for a loan amount of Rs 6,000 crore has been approved, the sources said.

Sources further said the ministry is planning to seek a Cabinet approval for the balance 168 applications and sanction an additional soft loan of Rs 7,400 crore.

The subsidy burden would be Rs 1,600 crore for the balance loan amount, they added.

A proposal is being prepared to seek approval for an additional soft loan under the scheme as well as amend the rules to allow even grain-based distilleries take the benefits, the sources added.

Currently, molasses-based distilleries are allowed under the scheme. The entry of standard distilleries will help diversion of more cane during the surplus season.

Ethanol extracted from sugarcane will be used for blending in petrol and will provide cane farmers with a remunerative price for their crop. Ethanol doping in petrol will also help the country cut its oil imports.

India, the world's second-biggest producer, is likely to produce 31.5 million tonnes (MT) of sugar in the 2018-19 marketing year, slightly lower than 32.5 MT last year, according to industry body ISMA's forecast.

The government is considering an additional soft loan of Rs 7,400 crore to sugar mills for creating ethanol capacity under a recently launched scheme, according to sources.

The government is considering an additional soft loan of Rs 7,400 crore to sugar mills for creating ethanol capacity under a recently launched scheme, according to sources. The food ministry is also considering tweaking the scheme to ensure that non-molasses-based distilleries are also able to avail soft loans under the scheme launched in June for expansion and setting up of new ethanol plants. Under the scheme, the government had announced a soft loan of Rs 4,400 crore and provided an interest subvention of Rs 1,332 crore to mills over a period of five years, including a moratorium period of one year. However, the ministry has received 282 applications seeking Rs 13,400 crore soft loans. Out of this, 114 applications for a loan amount of Rs 6,000 crore has been approved, the sources said. Sources further said the ministry is planning to seek a Cabinet approval for the balance 168 applications and sanction an additional soft loan of Rs 7,400 crore. The subsidy burden would be Rs 1,600 crore for the balance loan amount, they added. A proposal is being prepared to seek approval for an additional soft loan under the scheme as well as amend the rules to allow even grain-based distilleries take the benefits, the sources added. Currently, molasses-based distilleries are allowed under the scheme. The entry of standard distilleries will help diversion of more cane during the surplus season. Ethanol extracted from sugarcane will be used for blending in petrol and will provide cane farmers with a remunerative price for their crop. Ethanol doping in petrol will also help the country cut its oil imports. India, the world's second-biggest producer, is likely to produce 31.5 million tonnes (MT) of sugar in the 2018-19 marketing year, slightly lower than 32.5 MT last year, according to industry body ISMA's forecast.

Government mulls additional soft loan of Rs 7,400 crore to mills for ethanol expansion

Days after <a href="http://www.wionews.com/india-news/karnataka-over-10-dead-dozens-hospitalised-after-consuming-prasad-govt-announces-5-lakh-to-families-of-deceased-184107">15 people died</a> of poisoning and over 120 ended up in hospitals after <a href="http://www.wionews.com/india-news/at-least-11-dead-over-50-hospitalised-after-consuming-prasad-at-a-temple-in-karnataka-184133">eating prasad at a temple in Karnataka</a>, a local seer and three others were arrested on Wednesday on charges of conspiring to kill devotees to defame the management and take control of the shrine. Police say 15 bottles of pesticides were mixed with the prasad&nbsp;(temple offerings) while it was being prepared.

The 52-year old seer and his three accomplices -- a woman, her husband and his friend -- have been charged with murder, attempt to murder and criminal conspiracy, senior police officer KV Sharath Chandra said.

"Mahadeshwara Hill Saluru Math seer Pattada Immadi Mahadeshwara Swamy or Devanna Buddhi connived not only to take over the temple trust but also to defame the existing trust members," he told reporters in Chamarajanagar.

The seer was in control of the temple trust till 2017, but was sidelined later, which infuriated him, the officer said.

On orders of the seer, the 35-year old woman allegedly arranged for pesticide and her husband and his friend mixed it in the prasad while it was being prepared, he said.

15 died and more than 100 people are still in hospitals after consuming the poisonous prasad on December 14 at Sulvadi at an event to celebrate the groundbreaking ceremony for construction of the tower of the Kichchugutti Maramma Devi temple.

He said the temple was under the total control of the seer till April 2017 generating huge money for him. However, at the insistence of local villagers and devotees, a trust was formed for expansion of the temple.

"The seer was upset with the formation of the trust without his wish as his source of income almost dried up. Since then, shadow boxing between the temple management and the seer began," he said.

In October this year, the trust decided to build the 'gopuram' (tower) and revealed its plan to the seer, who readily volunteered and got an action plan for Rs. 1.5 crore from a temple architect in Tamil Nadu, he said.

The seer allegedly planned to mint money but the trust discarded his plan, saying that it was a sheer wastage of money and prepared another for Rs. 75 lakh and decided to hold the groundbreaking ceremony on December 14, which irked him, the officer said.

The seer directed the woman to mix poison in the prasad to defame the temple management and avenge his insult, the officer claimed.

On December 14, the two men had poured 15 bottles of pesticide in the prasad after sending away the cooks, he said.

The cooks returned and noticed a bad smell. They misled the cooks by saying that it was smell of edible camphor added to the prasad.

Days after 15 people died of poisoning and over 120 ended up in hospitals after eating prasad at a temple in Karnataka, a local seer and three others were arrested on Wednesday on charges of conspiring to kill devotees to defame the management and take control of the shrine.

Days after 15 people died of poisoning and over 120 ended up in hospitals after eating prasad at a temple in Karnataka, a local seer and three others were arrested on Wednesday on charges of conspiring to kill devotees to defame the management and take control of the shrine. Police say 15 bottles of pesticides were mixed with the prasad (temple offerings) while it was being prepared. The 52-year old seer and his three accomplices -- a woman, her husband and his friend -- have been charged with murder, attempt to murder and criminal conspiracy, senior police officer KV Sharath Chandra said. "Mahadeshwara Hill Saluru Math seer Pattada Immadi Mahadeshwara Swamy or Devanna Buddhi connived not only to take over the temple trust but also to defame the existing trust members," he told reporters in Chamarajanagar. The seer was in control of the temple trust till 2017, but was sidelined later, which infuriated him, the officer said. On orders of the seer, the 35-year old woman allegedly arranged for pesticide and her husband and his friend mixed it in the prasad while it was being prepared, he said. 15 died and more than 100 people are still in hospitals after consuming the poisonous prasad on December 14 at Sulvadi at an event to celebrate the groundbreaking ceremony for construction of the tower of the Kichchugutti Maramma Devi temple. He said the temple was under the total control of the seer till April 2017 generating huge money for him. However, at the insistence of local villagers and devotees, a trust was formed for expansion of the temple. "The seer was upset with the formation of the trust without his wish as his source of income almost dried up. Since then, shadow boxing between the temple management and the seer began," he said. In October this year, the trust decided to build the 'gopuram' (tower) and revealed its plan to the seer, who readily volunteered and got an action plan for Rs. 1.5 crore from a temple architect in Tamil Nadu, he said. The seer allegedly planned to mint money but the trust discarded his plan, saying that it was a sheer wastage of money and prepared another for Rs. 75 lakh and decided to hold the groundbreaking ceremony on December 14, which irked him, the officer said. The seer directed the woman to mix poison in the prasad to defame the temple management and avenge his insult, the officer claimed. On December 14, the two men had poured 15 bottles of pesticide in the prasad after sending away the cooks, he said. The cooks returned and noticed a bad smell. They misled the cooks by saying that it was smell of edible camphor added to the prasad.

Karnataka: Bottles of pesticides were mixed in temple offerings, says Police

The Congress on Saturday alleged that the BJP-led government at the Centre had misled the Supreme Court over the Rafale deal and committed contempt of court and perjury.

The Supreme Court on Friday dismissed petitions seeking a direction to the CBI to register an FIR for alleged irregularities in the multi-billion dollar deal between India and France for procurement of 36 Rafale jets.

It said there was no occasion to "really doubt the decision making the process" warranting setting aside of the contract.

Speaking to media persons here, Congress spokesperson Abhishek Manu Singhvi said the basis of the court ruling was a report by the Comptroller and Auditor General (CAG) which has not been seen by anyone, nor has it been shared with Parliament's Public Accounts Committee (PAC).

The apex court said it was ill-equipped to conduct judicial review of issues related to pricing, and this has been the Congress' stand. Hence, the party is demanding a probe by a Joint Parliamentary Committee (JPC), he said.

"The BJP has hoodwinked the nation and cheated the people. Now it has the guts to do the same to mislead the apex court. There is a serious misrepresentation of vital, significant facts to the apex court. This amounts to contempt (of court), (breach of) privilege as well as perjury," he claimed.

'Modi' now stands for 'Misleading Of Democratic Institutions', he quipped. 
The government has now moved an application before the SC, seeking correction of reference to CAG report, the Congress leader said.

"If this is true, it means a clear admission by the government that what is reported in para 25 of the judgement is a misrepresentation of facts...The government is saving its skin. How can the SC imagine a CAG report and its vetting by the Public Accounts Committee on its own?" Singhvi asked.

He also contested a mention in the SC judgement that relations between Dassault, the manufacturer of Rafale, and Reliance dated back to 2012.

"Reliance Defence was set up on March 28, 2015, and Reliance Aerostructure on April 24, 2015. It is during this time that Prime Minister Narendra Modi visited France on April 10, 2015," he said.

On Finance Minister Arun Jaitley terming the JPC as a divided political body, Singhvi said the BJP, when in opposition, had demanded a JPC probe many times, including in Bofors, 2G and VVIP helicopter scams.

"This is the worst kind of hypocrisy," he said.

The SC judgement said the material placed before it showed that the Centre disclosed pricing details of the jets to the CAG, and the CAG report was examined by the PAC.

However, PAC chairman and Congress leader Mallikarjun Kharge have said he never received any such report.

The Congress on Saturday alleged that the BJP-led government at the Centre had misled the Supreme Court over the Rafale deal and committed contempt of court and perjury.

The Congress on Saturday alleged that the BJP-led government at the Centre had misled the Supreme Court over the Rafale deal and committed contempt of court and perjury. The Supreme Court on Friday dismissed petitions seeking a direction to the CBI to register an FIR for alleged irregularities in the multi-billion dollar deal between India and France for procurement of 36 Rafale jets. It said there was no occasion to "really doubt the decision making the process" warranting setting aside of the contract. Speaking to media persons here, Congress spokesperson Abhishek Manu Singhvi said the basis of the court ruling was a report by the Comptroller and Auditor General (CAG) which has not been seen by anyone, nor has it been shared with Parliament's Public Accounts Committee (PAC). The apex court said it was ill-equipped to conduct judicial review of issues related to pricing, and this has been the Congress' stand. Hence, the party is demanding a probe by a Joint Parliamentary Committee (JPC), he said. "The BJP has hoodwinked the nation and cheated the people. Now it has the guts to do the same to mislead the apex court. There is a serious misrepresentation of vital, significant facts to the apex court. This amounts to contempt (of court), (breach of) privilege as well as perjury," he claimed. 'Modi' now stands for 'Misleading Of Democratic Institutions', he quipped. The government has now moved an application before the SC, seeking correction of reference to CAG report, the Congress leader said. "If this is true, it means a clear admission by the government that what is reported in para 25 of the judgement is a misrepresentation of facts...The government is saving its skin. How can the SC imagine a CAG report and its vetting by the Public Accounts Committee on its own?" Singhvi asked. He also contested a mention in the SC judgement that relations between Dassault, the manufacturer of Rafale, and Reliance dated back to 2012. "Reliance Defence was set up on March 28, 2015, and Reliance Aerostructure on April 24, 2015. It is during this time that Prime Minister Narendra Modi visited France on April 10, 2015," he said. On Finance Minister Arun Jaitley terming the JPC as a divided political body, Singhvi said the BJP, when in opposition, had demanded a JPC probe many times, including in Bofors, 2G and VVIP helicopter scams. "This is the worst kind of hypocrisy," he said. The SC judgement said the material placed before it showed that the Centre disclosed pricing details of the jets to the CAG, and the CAG report was examined by the PAC. However, PAC chairman and Congress leader Mallikarjun Kharge have said he never received any such report.

Government lied to Supreme Court on Rafale; committed contempt of court, perjury: Congress

At least 11 people have died and over 50 were hospitalised on Friday after consuming 'prasad' at a temple in Karnataka, the Chamarajanagar Superintendent of Police, Dharmendra Kumar Meena said.

The ill-stricken people were admitted to various hospitals in multiple locations in Chamarajanagar and Mysuru district.

The district health officer said that poison might have gotten mixed with the 'prasad', which eventually lead to this tragedy.

“It is suspected that the prasad was laced with poison. A team would be constituted to conduct a probe. The samples of the Prasad have already been sent to the lab. The exact reason would be ascertained only after receiving the reports," Chamarajanagar Deputy Commissioner B B Kaveri said.

Chief Minister H D Kumaraswamy announced an initial compensation of Rs 5 lakh for the deceased, also&nbsp;the government will pay for treatment charges and ordered the Director General of Police to investigate further and report the matter immediately.

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Chief minister HD Kumaraswamy has announced Rs 5 lakh as compensation to the families of the deceased in the Chamrajanagar food poisoning incident. 
The CM held a meeting to discuss the accident that took place at Sulvadi village.
— CM of Karnataka (@CMofKarnataka) <a href="https://twitter.com/CMofKarnataka/status/1073622660926636032?ref_src=twsrc%5Etfw">December 14, 2018</a></blockquote>
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CM has announced that the Govt will bear the medical expenses of all those affected in the food poisoning incident. He also ordered the Director General of Police to investigate further &amp; report the matter immediately.
— CM of Karnataka (@CMofKarnataka) <a href="https://twitter.com/CMofKarnataka/status/1073622664558841862?ref_src=twsrc%5Etfw">December 14, 2018</a></blockquote>
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Chief minister HD Kumaraswamy visited the K.R. Hospital, Mysuru, where the injured from the Chamarajanagar food poisoning incident is being treated. He consoled the victims of the tragedy, in which 8 people were dead and several others were taken ill. <a href="https://twitter.com/hashtag/Chamarajanagar?src=hash&amp;ref_src=twsrc%5Etfw">#Chamarajanagar</a> <a href="https://t.co/ZsYyhLckJr">pic.twitter.com/ZsYyhLckJr</a>
— CM of Karnataka (@CMofKarnataka) <a href="https://twitter.com/CMofKarnataka/status/1073626238915395585?ref_src=twsrc%5Etfw">December 14, 2018</a></blockquote>
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Kumaraswamy described the incident as unfortunate stating that, "there is an unfortunate food poisoning incident in Kamgere village. Principal Secretary and the commissioner has instructed DHOs Mandya and Mysore to provide help to Chamrajnagar health administration."

"The concerned program officer is monitoring calls at 108 call centre and coordinating services of ambulances. Commissioner has instructed ADC Mysore to provide services of private ALP ambulances. 2 senior officers are on way from state HQ to coordinate and supervise activities," Kumaraswamy added.&nbsp;

At least 11 people have died and over 50 were hospitalised on Friday after consuming 'prasad' at a temple in Karnataka, the Chamarajanagar Superintendent of Police, Dharmendra Kumar Meena said.

At least 11 people have died and over 50 were hospitalised on Friday after consuming 'prasad' at a temple in Karnataka, the Chamarajanagar Superintendent of Police, Dharmendra Kumar Meena said. The ill-stricken people were admitted to various hospitals in multiple locations in Chamarajanagar and Mysuru district. The district health officer said that poison might have gotten mixed with the 'prasad', which eventually lead to this tragedy. “It is suspected that the prasad was laced with poison. A team would be constituted to conduct a probe. The samples of the Prasad have already been sent to the lab. The exact reason would be ascertained only after receiving the reports," Chamarajanagar Deputy Commissioner B B Kaveri said. Chief Minister H D Kumaraswamy announced an initial compensation of Rs 5 lakh for the deceased, also the government will pay for treatment charges and ordered the Director General of Police to investigate further and report the matter immediately. Chief minister HD Kumaraswamy has announced Rs 5 lakh as compensation to the families of the deceased in the Chamrajanagar food poisoning incident. The CM held a meeting to discuss the accident that took place at Sulvadi village. — CM of Karnataka (@CMofKarnataka) December 14, 2018 × CM has announced that the Govt will bear the medical expenses of all those affected in the food poisoning incident. He also ordered the Director General of Police to investigate further & report the matter immediately. — CM of Karnataka (@CMofKarnataka) December 14, 2018 × Chief minister HD Kumaraswamy visited the K.R. Hospital, Mysuru, where the injured from the Chamarajanagar food poisoning incident is being treated. He consoled the victims of the tragedy, in which 8 people were dead and several others were taken ill. #Chamarajanagar pic.twitter.com/ZsYyhLckJr — CM of Karnataka (@CMofKarnataka) December 14, 2018 × Kumaraswamy described the incident as unfortunate stating that, "there is an unfortunate food poisoning incident in Kamgere village. Principal Secretary and the commissioner has instructed DHOs Mandya and Mysore to provide help to Chamrajnagar health administration." "The concerned program officer is monitoring calls at 108 call centre and coordinating services of ambulances. Commissioner has instructed ADC Mysore to provide services of private ALP ambulances. 2 senior officers are on way from state HQ to coordinate and supervise activities," Kumaraswamy added.

At least 11 dead, over 50 hospitalised after consuming prasad at a temple in Karnataka

The government has rejected a long-standing demand of the armed forces for higher Military Service Pay (MSP) for over 1.12 lakh military personnel including Junior Commissioned Officers of the Army, official sources said Tuesday.

They told PTI that the Army headquarters is "very anguished" over the decision by the Finance Ministry, and will seek its immediate review.

Around 1.12 lakh military personnel including 87,646 JCOs and 25,434 personnel of equivalent rank from the Navy and the Indian Air Force will be affected by the decision.

The demand was to increase the monthly MSP from Rs 5,500 to Rs 10,000 and the total annual financial outgo would have been Rs 610 crore if the government had accepted the demand, sources said.

The MSP for the military personnel was introduced recognising their unique service conditions and hardships.

"The proposal for higher MSP for JCOs and equivalent rank of the Navy and IAF has been rejected by the Finance Ministry," said a source.

At present, the MSP has two categories -- one for officers and another for JCOs and jawans.

The seventh Pay Commission had fixed Rs 5,200 as MSP per month for JCOs and jawans while putting it at Rs 15,500 for officers between Lieutenant-rank and Brigadier-rank.

The Army has been pressing for granting an higher MSP to the JCOs, arguing that they are gazetted officers (Group B) and play a very vital role in command and control structure of the force.

"Since JCOs are Group B gazetted officers and also have a considerable length of service, it is incorrect to grant them MSP on par with the jawans.&nbsp;

It is very unfair," said a military officer who wished not to be named.

The Army had taken up the issue strongly with the Defence Minister and the three services as well as the Defence Ministry were on the same page on the issue, the sources said.

The MSP was first introduced by the 6th Pay Commission, accounting for compensation for intangible aspects of military service.

It accounts for a range of "hardships and disadvantages" which cannot be evaluated while assessing pay comparability.

The concept of MSP for armed forces personnel is widely prevalent in European countries.

The armed forces were pressing for a separate slab of MSP for JCOs and equivalent rank.

In November last year, the Army clarified JCOs are gazetted officers and cancelled a seven-year-old note describing them as "non-gazetted" officers.

The decision by the Army came amid growing resentment among a large section of its officers over the controversial issue of rank-parity between them and their civilian counterparts in the service headquarters.

The government has rejected a long-standing demand of the armed forces for higher Military Service Pay (MSP) for over 1.12 lakh military personnel including Junior Commissioned Officers of the Army, official sources said Tuesday.

The government has rejected a long-standing demand of the armed forces for higher Military Service Pay (MSP) for over 1.12 lakh military personnel including Junior Commissioned Officers of the Army, official sources said Tuesday. They told PTI that the Army headquarters is "very anguished" over the decision by the Finance Ministry, and will seek its immediate review. Around 1.12 lakh military personnel including 87,646 JCOs and 25,434 personnel of equivalent rank from the Navy and the Indian Air Force will be affected by the decision. The demand was to increase the monthly MSP from Rs 5,500 to Rs 10,000 and the total annual financial outgo would have been Rs 610 crore if the government had accepted the demand, sources said. The MSP for the military personnel was introduced recognising their unique service conditions and hardships. "The proposal for higher MSP for JCOs and equivalent rank of the Navy and IAF has been rejected by the Finance Ministry," said a source. At present, the MSP has two categories -- one for officers and another for JCOs and jawans. The seventh Pay Commission had fixed Rs 5,200 as MSP per month for JCOs and jawans while putting it at Rs 15,500 for officers between Lieutenant-rank and Brigadier-rank. The Army has been pressing for granting an higher MSP to the JCOs, arguing that they are gazetted officers (Group B) and play a very vital role in command and control structure of the force. "Since JCOs are Group B gazetted officers and also have a considerable length of service, it is incorrect to grant them MSP on par with the jawans. It is very unfair," said a military officer who wished not to be named. The Army had taken up the issue strongly with the Defence Minister and the three services as well as the Defence Ministry were on the same page on the issue, the sources said. The MSP was first introduced by the 6th Pay Commission, accounting for compensation for intangible aspects of military service. It accounts for a range of "hardships and disadvantages" which cannot be evaluated while assessing pay comparability. The concept of MSP for armed forces personnel is widely prevalent in European countries. The armed forces were pressing for a separate slab of MSP for JCOs and equivalent rank. In November last year, the Army clarified JCOs are gazetted officers and cancelled a seven-year-old note describing them as "non-gazetted" officers. The decision by the Army came amid growing resentment among a large section of its officers over the controversial issue of rank-parity between them and their civilian counterparts in the service headquarters.

Army upset as government rejects demand for higher military service pay

The Government expects to mop up about Rs 9,000 crore by selling off land and real estate properties of debt-laden Air India, an official said Monday.

The sale of land, building and other realty assets is part of the government's plan to trim the Rs 55,000 crore debt burden of Air India as this will make the airline competitive and fetch a better valuation when the government plans the strategic sale of national carrier again.

Finance Minister Arun Jaitley headed ministerial panel had last week approved transferring Rs 29,000 crore debt to a special purpose vehicle (SPV) -- Air India Asset Holding Company.

The funds raised through the sale of the properties would be used to reduce the Rs 29,000 crore debt, held in the SPV.

"We are looking to raise about Rs 9,000 crore from sale of land and property assets of Air India. These include Airlines House in Bombay, realty property in Delhi's Vasant Vihar and land in Baba Kharak Singh Marg, next to Connaught Place," an official told PTI.

Last week the ministerial panel on Air India disinvestment had cleared the strategic sale of Air India ground handling subsidiary Air India Air Transport Services Limited (AIATSL).

The proceeds from the sale of AIATSL will also be used to reduce the debt held in the SPV.

AIATSL earned Rs 61.66 crore profit in the financial year 2016-17.

"We are going step by step to reduce the debt of Air India. When we hit the markets again with the strategic sale of Air India, potential investors will find it lucrative to purchase the carrier. These are all steps towards the sale of Air India," the official added.

The national carrier had in September invited bids to sell its properties located across India.

The airline had put up for sale 28 flats in Mumbai, seven flats in Ahmedabad, and two flats and office space in Pune, besides several other properties across the country.

The government had originally proposed to offload 76 per cent equity share capital of the national carrier as well as transfer the management control to private players.

However, the stake sale failed to attract any bidders when the bidding process got completed on May 31. In June, the ministerial panel decided not to go ahead with Air India stake sale in an election year.

It was decided to make Air India competitive by way of cutting down debt and raising resources by selling land assets and other subsidiaries.

The Government expects to mop up about Rs 9,000 crore by selling off land and real estate properties of debt-laden Air India, an official said Monday. The sale of land, building and other realty assets is part of the government's plan to trim the Rs 55,000 crore debt burden of Air India as this will make the airline competitive and fetch a better valuation when the government plans the strategic sale of national carrier again.

The Government expects to mop up about Rs 9,000 crore by selling off land and real estate properties of debt-laden Air India, an official said Monday. The sale of land, building and other realty assets is part of the government's plan to trim the Rs 55,000 crore debt burden of Air India as this will make the airline competitive and fetch a better valuation when the government plans the strategic sale of national carrier again. Finance Minister Arun Jaitley headed ministerial panel had last week approved transferring Rs 29,000 crore debt to a special purpose vehicle (SPV) -- Air India Asset Holding Company. The funds raised through the sale of the properties would be used to reduce the Rs 29,000 crore debt, held in the SPV. "We are looking to raise about Rs 9,000 crore from sale of land and property assets of Air India. These include Airlines House in Bombay, realty property in Delhi's Vasant Vihar and land in Baba Kharak Singh Marg, next to Connaught Place," an official told PTI. Last week the ministerial panel on Air India disinvestment had cleared the strategic sale of Air India ground handling subsidiary Air India Air Transport Services Limited (AIATSL). The proceeds from the sale of AIATSL will also be used to reduce the debt held in the SPV. AIATSL earned Rs 61.66 crore profit in the financial year 2016-17. "We are going step by step to reduce the debt of Air India. When we hit the markets again with the strategic sale of Air India, potential investors will find it lucrative to purchase the carrier. These are all steps towards the sale of Air India," the official added. The national carrier had in September invited bids to sell its properties located across India. The airline had put up for sale 28 flats in Mumbai, seven flats in Ahmedabad, and two flats and office space in Pune, besides several other properties across the country. The government had originally proposed to offload 76 per cent equity share capital of the national carrier as well as transfer the management control to private players. However, the stake sale failed to attract any bidders when the bidding process got completed on May 31. In June, the ministerial panel decided not to go ahead with Air India stake sale in an election year. It was decided to make Air India competitive by way of cutting down debt and raising resources by selling land assets and other subsidiaries.

Government to raise Rs 9,000 crore from sale of land, building, other assets of Air India

The Centre Monday told the Supreme Court that it may not be necessary to substitute retired IPS officer Rajdeep Singh who has declined to be a part of three-member SIT supervising further probe into 186 cases of the 1984 anti-Sikh riots citing personal reasons. The government told a bench of Justices Madan B Lokur and Deepak Gupta that they have no objection if the other two members of the special investigation team (SIT) — former Delhi High Court judge Justice S N Dhingra and serving IPS officer Abhishek Dular — continue with the work.

The bench said however that since the January 11 order constituting a three-member SIT was passed by a bench of three judges, they cannot modify it while sitting in a combination of two judges. The bench has posted the matter for hearing tomorrow. Additional Solicitor General (ASG) Pinky Anand, appearing for the Centre, said she has no objection to the suggestions given by the counsel for the petitioner that the other two members should continue with the work.

On January 11, the top court had constituted a three-member SIT headed by Justice (retired) Dhingra to supervise further probe into the 186 cases, in which closure reports had been filed earlier. Large-scale riots had broken out in the national capital in the aftermath of the assassination of the then Prime Minister Indira Gandhi by her two Sikh security guards on the morning of October 31, 1984. The violence had claimed 2,733 lives in Delhi alone.

On February 5, the Centre had moved the court requesting it to include former DG-rank officer Navneet Rajan Wasan, who had earlier served as the Director General of Bureau of Police Research and Development (BPR&amp;D), in the SIT to replace Singh. Wasan, now retired, is a 1980-batch Andhra Pradesh cadre officer and had also served as Special Director General in the National Investigation Agency (NIA). During the hearing on Monday, the ASG told the bench that they have suggested the name of former IPS officer Wasan to substitute Singh.

“You cannot choose your own judge. Give two-three names,” the bench told the ASG, who said that the apex court could appoint anybody to substitute Singh. Senior advocates R S Suri and H S Phoolka, representing the petitioner, said appointing a third member in the SIT might delay the process and the other two members should continue with their work. The top court had earlier appointed the three-member SIT after the Ministry of Home Affairs and counsel for petitioner S G S Kahlon arrived at a consensus with regard to the persons who could be appointed in the fresh SIT.

The court had earlier said the previous SIT did not carry out a further probe into the 186 cases in which closure reports were filed, and had directed setting up of a fresh SIT comprising a former high court judge and two police officers. Justice Dhingra, who had retired from Delhi High Court, had dealt with several high-profile cases including the 2001 Parliament Attack case as a trial judge. As the judge of the trial court, he had dealt with many of the 1984 riot cases, and his verdicts had resulted in a conviction in 16 cases. On August 16 last year, the apex court had appointed a supervisory panel to examine the earlier SIT’s decision to close 241 cases.

The Centre had said that out of 250 riots cases which were probed by that SIT, closure reports were filed in 241. It said some cases were still being investigated by the SIT, and two by the CBI. The earlier SIT was headed by Pramod Asthana, an IPS officer of 1986 batch, and had Rakesh Kapoor, a retired district and sessions judge, and Kumar Gyanesh, an additional deputy commissioner of Delhi Police, as its members.

Petitioner S Gurlad Singh Kahlon had earlier told the bench that a total of 293 riot-related cases were taken up for scrutiny by the earlier SIT which had decided to close 199 of them. Kahlon, a member of the Delhi Sikh Gurdwara Management Committee, had sought the court’s direction for setting up another SIT to ensure speedy justice to the riot victims.

The Centre Monday told the Supreme Court that it may not be necessary to substitute retired IPS officer Rajdeep Singh who has declined to be a part of three-member SIT supervising further probe into 186 cases of the 1984 anti-Sikh riots citing personal reasons.

The Centre Monday told the Supreme Court that it may not be necessary to substitute retired IPS officer Rajdeep Singh who has declined to be a part of three-member SIT supervising further probe into 186 cases of the 1984 anti-Sikh riots citing personal reasons. The government told a bench of Justices Madan B Lokur and Deepak Gupta that they have no objection if the other two members of the special investigation team (SIT) — former Delhi High Court judge Justice S N Dhingra and serving IPS officer Abhishek Dular — continue with the work. The bench said however that since the January 11 order constituting a three-member SIT was passed by a bench of three judges, they cannot modify it while sitting in a combination of two judges. The bench has posted the matter for hearing tomorrow. Additional Solicitor General (ASG) Pinky Anand, appearing for the Centre, said she has no objection to the suggestions given by the counsel for the petitioner that the other two members should continue with the work. On January 11, the top court had constituted a three-member SIT headed by Justice (retired) Dhingra to supervise further probe into the 186 cases, in which closure reports had been filed earlier. Large-scale riots had broken out in the national capital in the aftermath of the assassination of the then Prime Minister Indira Gandhi by her two Sikh security guards on the morning of October 31, 1984. The violence had claimed 2,733 lives in Delhi alone. On February 5, the Centre had moved the court requesting it to include former DG-rank officer Navneet Rajan Wasan, who had earlier served as the Director General of Bureau of Police Research and Development (BPR&D), in the SIT to replace Singh. Wasan, now retired, is a 1980-batch Andhra Pradesh cadre officer and had also served as Special Director General in the National Investigation Agency (NIA). During the hearing on Monday, the ASG told the bench that they have suggested the name of former IPS officer Wasan to substitute Singh. “You cannot choose your own judge. Give two-three names,” the bench told the ASG, who said that the apex court could appoint anybody to substitute Singh. Senior advocates R S Suri and H S Phoolka, representing the petitioner, said appointing a third member in the SIT might delay the process and the other two members should continue with their work. The top court had earlier appointed the three-member SIT after the Ministry of Home Affairs and counsel for petitioner S G S Kahlon arrived at a consensus with regard to the persons who could be appointed in the fresh SIT. The court had earlier said the previous SIT did not carry out a further probe into the 186 cases in which closure reports were filed, and had directed setting up of a fresh SIT comprising a former high court judge and two police officers. Justice Dhingra, who had retired from Delhi High Court, had dealt with several high-profile cases including the 2001 Parliament Attack case as a trial judge. As the judge of the trial court, he had dealt with many of the 1984 riot cases, and his verdicts had resulted in a conviction in 16 cases. On August 16 last year, the apex court had appointed a supervisory panel to examine the earlier SIT’s decision to close 241 cases. The Centre had said that out of 250 riots cases which were probed by that SIT, closure reports were filed in 241. It said some cases were still being investigated by the SIT, and two by the CBI. The earlier SIT was headed by Pramod Asthana, an IPS officer of 1986 batch, and had Rakesh Kapoor, a retired district and sessions judge, and Kumar Gyanesh, an additional deputy commissioner of Delhi Police, as its members. Petitioner S Gurlad Singh Kahlon had earlier told the bench that a total of 293 riot-related cases were taken up for scrutiny by the earlier SIT which had decided to close 199 of them. Kahlon, a member of the Delhi Sikh Gurdwara Management Committee, had sought the court’s direction for setting up another SIT to ensure speedy justice to the riot victims.

No objection if 2 members of SIT continue to supervise 1984 anti-Sikh riots cases, Government tells SC

Congress president Rahul Gandhi Tuesday accused the Narendra Modi-led government of interfering in the functioning of important institutions like the Election Commission and the CBI.

Addressing an election rally in poll-bound Mizoram's capital Aizawl, Gandhi said being an RSS man is sufficient qualification to be governor or vice chancellor.&nbsp;

He also reiterated his allegations of corruption in the Rafale deal and said Prime Minister Narendra Modi has robbed public money and used it to buy publicity.

The government has denied the opposition party's allegations on the fighter jet deal with France.

"The Modi government is interfering in the functioning of the Planning Commission, RBI, CBI and Election Commission. Four judges of the Supreme Court said they could not do their jobs due to government interference," Gandhi said.

In January, four senior-most judges of the Supreme Court -- Justices J Chelameswar, Ranjan Gogoi, M B Lokur and Kurian Joseph -- called a press conference to say the situation in the top court was "not in order". Gogoi is now chief justice.

"To be governor or VC of a university, being an RSS man is sufficient qualification," Gandhi, who had addressed a rally in Champhai in the state earlier in the day, said while hitting out at the ruling BJP's ideological mentor.&nbsp;

The Congress president also attacked the opposition MNF for allegedly working with the BJP in the Mizoram elections.

Lauding his party government in the state for the past 10 years, he said the per capita income of Mizoram is higher than the national average.

"This happened due to united efforts of the people, churches and civil societies," he added. 
Elections to the 40-member Mizoram assembly will be held on November 28.

Congress president Rahul Gandhi Tuesday accused the Narendra Modi-led government of interfering in the functioning of important institutions like the Election Commission and the CBI.

Congress president Rahul Gandhi Tuesday accused the Narendra Modi-led government of interfering in the functioning of important institutions like the Election Commission and the CBI. Addressing an election rally in poll-bound Mizoram's capital Aizawl, Gandhi said being an RSS man is sufficient qualification to be governor or vice chancellor. He also reiterated his allegations of corruption in the Rafale deal and said Prime Minister Narendra Modi has robbed public money and used it to buy publicity. The government has denied the opposition party's allegations on the fighter jet deal with France. "The Modi government is interfering in the functioning of the Planning Commission, RBI, CBI and Election Commission. Four judges of the Supreme Court said they could not do their jobs due to government interference," Gandhi said. In January, four senior-most judges of the Supreme Court -- Justices J Chelameswar, Ranjan Gogoi, M B Lokur and Kurian Joseph -- called a press conference to say the situation in the top court was "not in order". Gogoi is now chief justice. "To be governor or VC of a university, being an RSS man is sufficient qualification," Gandhi, who had addressed a rally in Champhai in the state earlier in the day, said while hitting out at the ruling BJP's ideological mentor. The Congress president also attacked the opposition MNF for allegedly working with the BJP in the Mizoram elections. Lauding his party government in the state for the past 10 years, he said the per capita income of Mizoram is higher than the national average. "This happened due to united efforts of the people, churches and civil societies," he added. Elections to the 40-member Mizoram assembly will be held on November 28.

Government interfering in functioning of important institutions like EC, CBI: Rahul Gandhi

Bangladesh will hold a national election on December 23 despite bitter wrangling between the government and opposition, authorities announced Thursday.

Chief Election Commissioner Nurul Huda said in a nationally broadcast speech that all preparations have been made for "fair" polls. The opposition has expressed fears that the election will not be democratic and has threatened protests.

"Voting will be held on Sunday, December 23," Huda said, adding that nominations had to be submitted by November 19.&nbsp;

Opposition leader Khaleda Zia has been sent back to jail after a month of treatment in hospital. &nbsp;

Bangladesh will hold a national election on December 23 despite bitter wrangling between the government and opposition, authorities announced Thursday. Chief Election Commissioner Nurul Huda said in a nationally broadcast speech that all preparations have been made for "fair" polls.

Bangladesh will hold a national election on December 23 despite bitter wrangling between the government and opposition, authorities announced Thursday. Chief Election Commissioner Nurul Huda said in a nationally broadcast speech that all preparations have been made for "fair" polls. The opposition has expressed fears that the election will not be democratic and has threatened protests. "Voting will be held on Sunday, December 23," Huda said, adding that nominations had to be submitted by November 19. Opposition leader Khaleda Zia has been sent back to jail after a month of treatment in hospital.

Bangladesh general election set for December 23

Reserve Bank of India Governor Urjit Patel may consider resigning from his post given a <a href="http://www.wionews.com/india-news/government-very-upset-with-rbi-for-making-rift-public-sources-174359">breakdown in relations</a> with the government, TV channels reported on Wednesday, sparking a sell-off in the rupee and bonds.

Indian television channels CNBC-TV18 and ET Now cited sources as saying that Patel could quit.

The RBI and the finance ministry declined to comment.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/government-invokes-never-used-before-powers-to-issue-directions-to-rbi-report-174517">Government invokes never-used-before powers to issue directions to RBI governor</a>

The government has invoked never-before-used powers under the RBI Act that allow it to issue directions to the central bank governor on matters of public interest, the Economic Times newspaper reported.

It said the government had sent letters to the RBI governor in recent weeks exercising powers under Section 7 of the RBI Act on issues ranging from liquidity for non-bank finance companies, capital requirements for weak banks and lending to small- and medium-sized companies.

Section 7 says that 'the Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest', a statute that has not been used in independent India, according to the Economic Times.

The 10-year benchmark bond yield rose to 7.87 per cent from its previous close of 7.83 per cent.

The rupee fell to 73.99 to the dollar from 73.6750 on Tuesday, after touching 74.04, its lowest since October 15.

"It is difficult to believe that the RBI governor will resign because it is unprecedented and would look quite irresponsible and (an) immature step," said a senior trader at a foreign bank. "But it is quite worrisome to see the government trying to continuously interfere into the RBI's operations."

IN THE OPEN

Tensions between the RBI and the government have spilled into the public domain after Deputy Governor Viral Acharya said last week that undermining central bank independence could be "potentially catastrophic", indicating the authority is pushing back against government pressure to relax its policies and reduce its powers ahead of a general election due by May.

Adding to the row, Finance Minister Arun Jaitley blamed the central bank for failing to stop a lending spree during 2008-2014 that left banks with $150 billion of bad debt.

Patel and other regulators, including the Securities and Exchange Board of India, the Insurance Regulatory and Development Authority and the Pension Fund Regulatory and Development Authority, met Jaitley and other top finance ministry officials at a meeting of the Financial Stability and Development Council on Tuesday to discuss the liquidity crunch.

However, there was no sign of resignation by Patel at the meeting, officials said.

Patel and his deputy governors are expected to meet top finance ministry officials on Friday.

Reserve Bank of India Governor Urjit Patel may consider resigning from his post given a breakdown in relations with the government, TV channels reported on Wednesday, sparking a sell-off in the rupee and bonds.

Reserve Bank of India Governor Urjit Patel may consider resigning from his post given a breakdown in relations with the government, TV channels reported on Wednesday, sparking a sell-off in the rupee and bonds. Indian television channels CNBC-TV18 and ET Now cited sources as saying that Patel could quit. The RBI and the finance ministry declined to comment. Also read: Government invokes never-used-before powers to issue directions to RBI governor The government has invoked never-before-used powers under the RBI Act that allow it to issue directions to the central bank governor on matters of public interest, the Economic Times newspaper reported. It said the government had sent letters to the RBI governor in recent weeks exercising powers under Section 7 of the RBI Act on issues ranging from liquidity for non-bank finance companies, capital requirements for weak banks and lending to small- and medium-sized companies. Section 7 says that 'the Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest', a statute that has not been used in independent India, according to the Economic Times. The 10-year benchmark bond yield rose to 7.87 per cent from its previous close of 7.83 per cent. The rupee fell to 73.99 to the dollar from 73.6750 on Tuesday, after touching 74.04, its lowest since October 15. "It is difficult to believe that the RBI governor will resign because it is unprecedented and would look quite irresponsible and (an) immature step," said a senior trader at a foreign bank. "But it is quite worrisome to see the government trying to continuously interfere into the RBI's operations." IN THE OPEN Tensions between the RBI and the government have spilled into the public domain after Deputy Governor Viral Acharya said last week that undermining central bank independence could be "potentially catastrophic", indicating the authority is pushing back against government pressure to relax its policies and reduce its powers ahead of a general election due by May. Adding to the row, Finance Minister Arun Jaitley blamed the central bank for failing to stop a lending spree during 2008-2014 that left banks with $150 billion of bad debt. Patel and other regulators, including the Securities and Exchange Board of India, the Insurance Regulatory and Development Authority and the Pension Fund Regulatory and Development Authority, met Jaitley and other top finance ministry officials at a meeting of the Financial Stability and Development Council on Tuesday to discuss the liquidity crunch. However, there was no sign of resignation by Patel at the meeting, officials said. Patel and his deputy governors are expected to meet top finance ministry officials on Friday.

RBI Governor Urjit Patel may consider resigning after rift with government: Report

The reported landing of an Israeli private jet has created uproar in Pakistan, with the government issuing a denial on the media reports.

The controversy started after Israeli newspaper Haaretz's English edition Editor Avi Scharf tweeted details of a mysterious jet landing in Islamabad along with snippets of the flight details.

"Israeli business jet flew from Tel Aviv to Islamabad, Pakistan, on the ground 10 hours and back to Tel Aviv. Cleared flight-plan with usual 5 minute ground time trick in Amman," Scharf wrote on Twitter on October 25.

He quoted the data of flight tracking website, flightradar24, to further back his claims. It was alleged that flight had descended near Islamabad before going out of coverage. The aircraft reappeared 10 hours later heading south-west from Islamabad.

The issue raked up an uproar in Pakistan as Islamabad does not recognise Israel and, therefore, doesn't have diplomatic relations with it.

Quoting Pakistan People's Party vice-president Sherry Rehman, Pakistani media outlet the Dawn said, "The government should explain who came in the aircraft. The decisions that would be taken without taking the nation into confidence would not be acceptable."

On October 27, Pakistan's Civil Aviation Authority categorically rejected any news regarding landing of Israeli plane in the country. The government said there was no truth in any Israeli jet landing at any Pakistani airport.

Following the explanation by the government, Scharf had also taken to his Twitter handle and slightly diluted his claims saying that the craft might only have flown overhead Pakistan.

"Pakistan gov't issues denial. I'm sure @flightradar24 can tell what was final altitude and when landed. But I assume they won't. Maybe it only flew overhead Pakistan to goto China... Up to you investigative minds in Pakistan," he wrote on Saturday.

As per reports, the only known interaction between Pakistan and Israel took place on September 1, 2005 between the then Pakistani foreign minister Khurshid Kasuri and his Israeli counterpart Silvan Shalom.

The reported landing of an Israeli private jet has created uproar in Pakistan, with the government issuing a denial on the media reports. The controversy started after Israeli newspaper Haaretz's English edition Editor Avi Scharf tweeted details of a mysterious jet landing in Islamabad along with snippets of the flight details.

The reported landing of an Israeli private jet has created uproar in Pakistan, with the government issuing a denial on the media reports. The controversy started after Israeli newspaper Haaretz's English edition Editor Avi Scharf tweeted details of a mysterious jet landing in Islamabad along with snippets of the flight details. "Israeli business jet flew from Tel Aviv to Islamabad, Pakistan, on the ground 10 hours and back to Tel Aviv. Cleared flight-plan with usual 5 minute ground time trick in Amman," Scharf wrote on Twitter on October 25. He quoted the data of flight tracking website, flightradar24, to further back his claims. It was alleged that flight had descended near Islamabad before going out of coverage. The aircraft reappeared 10 hours later heading south-west from Islamabad. The issue raked up an uproar in Pakistan as Islamabad does not recognise Israel and, therefore, doesn't have diplomatic relations with it. Quoting Pakistan People's Party vice-president Sherry Rehman, Pakistani media outlet the Dawn said, "The government should explain who came in the aircraft. The decisions that would be taken without taking the nation into confidence would not be acceptable." On October 27, Pakistan's Civil Aviation Authority categorically rejected any news regarding landing of Israeli plane in the country. The government said there was no truth in any Israeli jet landing at any Pakistani airport. Following the explanation by the government, Scharf had also taken to his Twitter handle and slightly diluted his claims saying that the craft might only have flown overhead Pakistan. "Pakistan gov't issues denial. I'm sure @flightradar24 can tell what was final altitude and when landed. But I assume they won't. Maybe it only flew overhead Pakistan to goto China... Up to you investigative minds in Pakistan," he wrote on Saturday. As per reports, the only known interaction between Pakistan and Israel took place on September 1, 2005 between the then Pakistani foreign minister Khurshid Kasuri and his Israeli counterpart Silvan Shalom.

Israeli jet landing reports create uproar in Pak, government denies

Pitching for "effective independence", RBI Deputy Governor Viral Acharya Friday said governments that do not respect central bank's independence would sooner or later incur the wrath of <a href="http://www.wionews.com/opinions/markets-need-rbis-assurance-169531">financial markets</a>.

Amid instances of apparent differences between the government and the RBI, Acharya emphasised that undermining a central bank's independence is akin to committing a "self goal" for any government.

Wiser politicians will give a central bank necessary autonomy so that they reap electoral benefits of stable macroeconomic conditions which such independence will bring, Acharya said here.

Delivering the AD Shroff Memorial Lecture, he said, "What matters is the effective independence with which these powers (vested in the Acts governing the RBI or any central bank) can be exercised in practice."

"Governments that do not respect central bank's independence will sooner or later incur the wrath of financial markets, ignite economic fire and come to rue the day they undermined an important regulatory institution," Acharya said.

Noting that markets have a keen eye on this aspect, he said that if uncertainty grows and confidence in central bank's independence and credibility erodes, "then markets rap bond yields and exchange rate on the knuckles!"

"Wiser governments which accord the necessary leeway will benefit through lower costs of borrowing, the love of international investors and longer life spans," he said.&nbsp;

In recent months, the RBI and the government have been apparently differing on approach to certain issues, such as those pertaining to payment systems regulator and Prompt Corrective Action (PAC) norms for banks.

In his over 85-minute long speech, the academic-turned-central banker seemed to be expressing some satisfaction with the level of independence achieved by the RBI but underlined the need for more leeway, especially for regulating state-run banks where the RBI cannot effect any management changes, balance sheet management where fiscally pressured government eyes the surplus, and "regulatory scope" like its ongoing tussle on who manages the payments landscape with government.

To illustrate the achievements, he pointed out the inflation targeting framework and the setting up of the rate setting panel and introduction of bankruptcy laws.

He termed the RBI as a "friend" of the government, which will "tell the government unpleasant but brutally honest truths and correct, to the extent it can, any adverse long-term consequences of government policies".

Acharya cited global experience to point out that not maintaining independence of central banks has led to deep economic troubles as in Argentina in 2010 and also pointed out that issues faced by countries like Turkey have their roots in central bank's independence.

The basic difference between a central bank and a "myopic" government is of the time horizon for which decisions are made, he said, comparing central banks with cricket Test teams and the executive arms of the government as T-20 teams looking for quick results.

The speech comes amid a host of issues on which the RBI is reportedly sparring with the government.

It comes exactly a week after it decided to go public with its displeasure on who will regulate payment systems by posting a dissent note, and amid pressure from the government to relax the prompt corrective action (PCA) norms which restrict lenders' activities for having high levels of dud assets and depleting capital reserves.

"Sweeping bank loan losses under the rug by compromising supervisory and regulatory standards can create a facade of financial stability in the short run, but inevitably cause the fragile deck of cards to fall in a heap at some point in future, likely with a greater taxpayer bill and loss of potential output," he said, pointing to the over&nbsp; 
Rs 10.50 lakh crore NPAs the banking system is plagued with.

He also spoke about the scenarios which can compromise the central bank's independence such as appointment of government officials rather than technocrats to key positions such as governor, erosion of its powers through "piece-meal legislative amendments", blocking of rule-based central bank policies and setting up of parallel regulatory agencies.

Acharya concluded his speech asserting that "independent central bankers will remain undeterred", making clear the institutional resolve.&nbsp;

Pitching for "effective independence", RBI Deputy Governor Viral Acharya Friday said governments that do not respect central bank's independence would sooner or later incur the wrath of financial markets.

Pitching for "effective independence", RBI Deputy Governor Viral Acharya Friday said governments that do not respect central bank's independence would sooner or later incur the wrath of financial markets. Amid instances of apparent differences between the government and the RBI, Acharya emphasised that undermining a central bank's independence is akin to committing a "self goal" for any government. Wiser politicians will give a central bank necessary autonomy so that they reap electoral benefits of stable macroeconomic conditions which such independence will bring, Acharya said here. Delivering the AD Shroff Memorial Lecture, he said, "What matters is the effective independence with which these powers (vested in the Acts governing the RBI or any central bank) can be exercised in practice." "Governments that do not respect central bank's independence will sooner or later incur the wrath of financial markets, ignite economic fire and come to rue the day they undermined an important regulatory institution," Acharya said. Noting that markets have a keen eye on this aspect, he said that if uncertainty grows and confidence in central bank's independence and credibility erodes, "then markets rap bond yields and exchange rate on the knuckles!" "Wiser governments which accord the necessary leeway will benefit through lower costs of borrowing, the love of international investors and longer life spans," he said. In recent months, the RBI and the government have been apparently differing on approach to certain issues, such as those pertaining to payment systems regulator and Prompt Corrective Action (PAC) norms for banks. In his over 85-minute long speech, the academic-turned-central banker seemed to be expressing some satisfaction with the level of independence achieved by the RBI but underlined the need for more leeway, especially for regulating state-run banks where the RBI cannot effect any management changes, balance sheet management where fiscally pressured government eyes the surplus, and "regulatory scope" like its ongoing tussle on who manages the payments landscape with government. To illustrate the achievements, he pointed out the inflation targeting framework and the setting up of the rate setting panel and introduction of bankruptcy laws. He termed the RBI as a "friend" of the government, which will "tell the government unpleasant but brutally honest truths and correct, to the extent it can, any adverse long-term consequences of government policies". Acharya cited global experience to point out that not maintaining independence of central banks has led to deep economic troubles as in Argentina in 2010 and also pointed out that issues faced by countries like Turkey have their roots in central bank's independence. The basic difference between a central bank and a "myopic" government is of the time horizon for which decisions are made, he said, comparing central banks with cricket Test teams and the executive arms of the government as T-20 teams looking for quick results. The speech comes amid a host of issues on which the RBI is reportedly sparring with the government. It comes exactly a week after it decided to go public with its displeasure on who will regulate payment systems by posting a dissent note, and amid pressure from the government to relax the prompt corrective action (PCA) norms which restrict lenders' activities for having high levels of dud assets and depleting capital reserves. "Sweeping bank loan losses under the rug by compromising supervisory and regulatory standards can create a facade of financial stability in the short run, but inevitably cause the fragile deck of cards to fall in a heap at some point in future, likely with a greater taxpayer bill and loss of potential output," he said, pointing to the over Rs 10.50 lakh crore NPAs the banking system is plagued with. He also spoke about the scenarios which can compromise the central bank's independence such as appointment of government officials rather than technocrats to key positions such as governor, erosion of its powers through "piece-meal legislative amendments", blocking of rule-based central bank policies and setting up of parallel regulatory agencies. Acharya concluded his speech asserting that "independent central bankers will remain undeterred", making clear the institutional resolve.

A govt that does not respect RBI's independence will incur wrath of markets: RBI Deputy Governor

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