Tracking Indian Economy till general elections 2019

[sorcerer]

PAN not needed for cash sale of agri produce up to Rs 2 lakh/day

NEW DELHI: Therevenue departmenttoday said farmers do not need to quote
PANfor cash sale of their produce up to Rs 2 lakh a day.

The Central Board of Direct Taxes (CBDT) said in response to representations from stakeholders regarding the applicability of provisions of Income-tax Act, 1961 to cash sale of agricultural produce by the cultivators/ agriculturists.

The newly inserted section 269ST in the Income Tax Act bans such cash dealings on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual.

The provision implies that any cash sale of an amount of Rs 2 lakh or more by a cultivator of agricultural produce is prohibited under section 269ST of the Act.

After looking into the representations, the CBDT clarified that cash sale of the agricultural produce by its cultivator to the trader for an amount less than Rs 2 lakh "will not" attract prohibition under section 269ST in the case of the cultivator.

Also, cultivator will not be required to quote his PAN/or furnish Form No 60 (filed by a person who does not have a permanent account number).

Read more at:
//economictimes.indiatimes.com/articleshow/61498835.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


Never ever...I have seen such speedy decision making by the Govt machinery of India in span of hours and weeks after taking feedback.
This is commendable.

 

[Sakal Gharelu Ustad]

Modi's Magic Makes India's Problems Disappear




_________________________

Here's my take:

I can draw a parallel with the United States. The United States Treasury issues government bonds and gives them to the Federal Reserve Bank. The Federal Reserve Bank, in return, gives the United States Treasury dollars.

In India, the government gave bonds to the banks and in return the banks gave rupees to the government. Now, the government used that money to give back to the banks to fix the NPAs and bad loans.

To get an understanding of government bonds, here is an excerpt:

View attachment 21351
Link: http://www.investopedia.com/terms/g/government-bond.asp

_________________________

@Sakal Gharelu Ustad (and others), how much can government bonds be a liability for the government? How can this impact the sovereign credit ratings of the country?

Instead of seeding capital into the NPA ridden banks at one go, GoI has taken a longer route. Option 1 was to pump this capital directly and take the whole expense on its current balance sheet thus deteriorating the fiscal target for this year.

Instead, GoI issued bonds and thus have to serve just the interest payments. Even at 10% interest rate, I think it is 0.1-0.2% of GDP (need to check exact numbers, but this is in ball park) and hence would not screw govt finances. I don't think it will be a big drag to cause concerns on sovereign ratings.

_______________

It is much late in the picture and I don't know why Jai Italy took forever to do it. I have been asking for taking care of these NPAs for more than a year now and so have been most sane people who did not see any spurt in lending. Finally, Modi realized that banks will not lend till their books are not better.

 

[Flame Thrower]

This is over 2 months old video. I am posting this because of the funny face of the host. Boy his face in ISRO videos is great.

Let's how he responds to growth in future.

 

[sorcerer]

Benami assets worth Rs 1,833 crore attached, 'strong action' to continue: CBDT
NEW DELHI: The

Income Tax Department
has attached benami assets worth Rs 1,833 crore so far as part of its "sustained action plan" against such properties, the CBDT said on Monday.

Central Board of Direct Taxes (CBDT) chairman Sushil Chandra told PTI that the I-T department would continue taking "strong" action against benami asset holders under its sustained action plan and that this action "will not stop".

"I can assure you that this probe will not end. We are obtaining more data and information from all available avenues on such assets. More such instances and assets will be identified and strong legal action will be taken," he said.

Official data, updated till October, shows that assets worth Rs 1,833 crore have been attached by the I-T department, for which it issued over 517 notices and made 541 attachments.

The maximum of such cases, at 136, have been booked in the Ahmedabad region, followed by Bhopal (93), Karnataka and Goa (76), Chennai (72), Jaipur (62), Mumbai (61) and Delhi (55).

Prime Minister Narendra Modi, during a recent election rally in Himachal Pradesh, had hinted at a sustained crackdown on 'benami' properties, and had said that the opposition Congress was "worried" because such assets of its leaders would not be spared. "I tried to get some information from Congress leaders ... some (Congress leaders) lost their bags of Rs 500 notes, some of Rs 1,000 notes. In the meantime, Modi has come with benami law. Their worry is that Modi will start showing results. Their worry is that benami assets such as land, flats, shops that they have kept hidden like Rs 500 and Rs 1,000 notes are not going to be spared," the Prime Minister had said, referring to demonetisation and an amended legislation to prohibit benami transactions.

After the Prime Minister announced the withdrawal of Rs 500 and Rs 1,000 notes, the two highest value banknotes of the time, from circulation on November 8 last year, the I-T department had warned people against depositing their unaccounted banknotes in accounts maintained by someone else.


Such an act, it had said, would attract criminal charges under the Benami Property Transactions Act, 1988, applicable on both movable and immovable properties.


The I-T department is the nodal department to enforce the Benami Act in the country.


The department started initiating actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1 last year.


The law provides for a maximum punishment of seven years in jail and a fine.
https://timesofindia.indiatimes.com...ion-to-continue-cbdt/articleshow/61533784.cms

 

[sorcerer]

A year on, bankers say note ban has been good for them



MUMBAI: A couple of days ahead of the first anniversary of

demonetisation
, bankers said on Monday that the move was good for them as it resulted in higher deposits and pushed digitisation at a faster pace.

On November 8 last year, the Modi government demonetised Rs 500 and Rs 1,000 notes as part of its drive against black money, counterfeit notes and corruption.

"For the banking sector, I would consider it positive as lots of money has come into the formal banking system. Casa (current account, savings account) deposits have gone up by minimum 250-300 basis points which itself is a big positive," SBI chairman Rajnish Kumar said.

Deposits, which came into the banking sector, left banks with trillions of rupees in surplus funds, leading to an overall decline in money market rates.

ICICI Bank chief executive Chanda Kochhar said the note ban led to formalisation of financial savings and increased the flow of funds to mutual funds and insurance.

"Post-demonetisation, there was a faster shift towards digitisation. Going forward, the whole approach towards digitisation will continue," Kochhar said.

Although some analysts and a section of people in the government had initially claimed that the move would lead to a windfall gain of at least 20 per cent of the Rs 15.87 trillion (Rs 15.87 lakh crore) of banknotes cancelled, the Reserve Bank in June said as much as 99.1 per cent of the junked bills had returned to the banking system.


This led to widespread criticism of the move and the opposition parties are organising protests on the first anniversary of the demonetisation drive as "black day".


Formalisation of financial savings will increase the ability of banks and other players to reach out to small customers, Kochhar said.


Kumar said that post-note ban and the roll out of the Goods and Services Tax (GST), some sectors have seen improvement but there are certain segments which need to see more action.


In last one year there has been a tremendous improvement as far as the steel sector is concerned, he said.


https://timesofindia.indiatimes.com...s-been-good-for-them/articleshow/61533298.cms

 

[pmaitra]

Instead of seeding capital into the NPA ridden banks at one go, GoI has taken a longer route. Option 1 was to pump this capital directly and take the whole expense on its current balance sheet thus deteriorating the fiscal target for this year.

Instead, GoI issued bonds and thus have to serve just the interest payments. Even at 10% interest rate, I think it is 0.1-0.2% of GDP (need to check exact numbers, but this is in ball park) and hence would not screw govt finances. I don't think it will be a big drag to cause concerns on sovereign ratings.

_______________

It is much late in the picture and I don't know why Jai Italy took forever to do it. I have been asking for taking care of these NPAs for more than a year now and so have been most sane people who did not see any spurt in lending. Finally, Modi realized that banks will not lend till their books are not better.

Thanks for the explanation. Yes, I too agree, this is a low risk remedy.

What is Jai Italy? Is it a portmanteau of Amit Shah's son Jai (Jay) Shah and Sonia Gandhi's native country Italy?

 

[Mikesingh]

How the Economist uses lies and half truths to push their anti-Modi agenda
November 4, 2017

It is no secret that media outlets like the BBC and the Economist have an anti India, anti-BJP or anti-Modi slant to their editorials and coverage. A recent article published by the Economist lays threadbare their modus oprendi to malign Modi. Use half truths and debunked lies while ignoring any shred of objectivity to spin their agenda.

The article titled, India’s prime minister focuses too much on appearances, starts with the assumption that:

Mr Modi’s recent setbacks, however, stem in large part from his preoccupation with presentation over substance.

The rest of the article does not speak about this topic and the assertion is not backed up with anything objective or even remotely provable. Let us go further down the rabbit hole that is this Economist article, where we are supposed to discover ‘setbacks’:

Start with the economy. Growth has slowed, from 9.1% year-on-year in the first quarter of last year to 5.7% in the second quarter of this year. That is in part because of his policy of “demonetisation”, in which 86% of the banknotes in circulation were abruptly voided.

This ignores the fact that growth had started to slow down before demonetisation was introduced. It also ignores the fact that early indicators suggest that the Indian economy has possibly turned a corner and the economy is bouncing back.

Further, the article says:

Mr Modi presented it as a crushing blow to gangsters and tax-dodgers, but in fact it caused great hardship and disruption, without any clear benefit.

This is a very amateurish attempt that fails to provide any context and simply assumes demonetisation to be a failure. It does not talk about how demonetisation has ‘nudged’ India and Indians from a cash attached society to on that is switching to digital payments with gusto.

Tax-dodgers are not off the hook as ‘Project Insight‘ is there, and The Economist presents no data or argument to believe that crimes based on illicit or black money is not down. In fact, data shows that demonetisation indeed broke the bone of some crime syndicates, especially human trafficking.

Ranting on without substance, the article further claims:

Mr Modi triumphantly declared the GST a “good and simple tax”. But he did not listen to his own advisers’ suggestions on how to make it so.

This one truly boggles the mind – does the venerable Economist not know that Mr Modi does not dictate policy like is an authoritarian ruler? GST in particular is a triumph of co-operative federalism and is driven by a council that determines the rate structure. That aside, there is not a shred of evidence to suggest that Mr Modi was recommended only 3 rates, and he single-handedly ‘imposed’ the current structure.

The article then harps about ‘rising intolerance’ and attack on ‘press freedom’:

It does not help that the government bridles at criticism and harries its critics. Media firms are anxious not to offend it; journalists who take it on often lose their jobs. The press has been asking awkward questions about the finances of a firm owned by the son of Amit Shah, the BJP’s number two; they were greeted with rebukes from ministers and a lawsuit.

I can’t think of names of any journalists who lost their jobs, on the other hand, most anti-Modi journalists are doing very well in their professional lives and are running well-funded and well-oiled media outlets.

The “awkward questions” that The Economist refers to were so fundamentally flawed and didn’t know the difference between revenue and profits. Besides, filing a law suit is perfectly within India’s democratic norms.

Having failed at establishing any facts, The Economist then goes into the real of pushing propaganda:

Even comedians who imitate Mr Modi have mysteriously disappeared from the airwaves.

Outright calumny that takes on darker tones. No The Economist, the comedian did not disappear from the airwaves, on the contrary, in an interview he openly says that neither Mr Modi nor the BJP had anything to do with him not being allowed to perform his mimicry act. It was a decision taken by the private TV channel.

Perhaps the ‘best’ part of The Economist article is this:

The new government in Uttar Pradesh, for example, has painted buildings and buses saffron—a shade associated with Hinduism—and picked fights with Muslims, leaving the Taj Mahal (built by a Muslim emperor) off a list of the state’s main attractions.

How did content like this even get past the ostensibly high standards editorial boards in this venerable magazine? What does this even mean? This is really shoddy journalism. Thank god that they did not mention banning illegal slaughterhouses as picking fights with Muslims, which the desi media had done. Maybe The Economist is late to the party.

Now that the article is into anti-BJP mode, this is what appears next:

The party’s overriding focus is extending its own authority. Earlier this year the defence minister, Manohar Parrikar, resigned to become chief minister of the tiny state of Goa. The BJP had lost ground there in recent state elections, and the allies it needed to form a government insisted they would join it only if Mr Parrikar, a former chief minister, returned. The finance minister, for whom making the GST work was apparently not a full-time job, took on the role of defence minister as well for the next six months—a period of tension with both China and Pakistan.

It is a democracy, and in a democracy, no one is indispensable. Besides, the tensions with China was managed effectively and the Doklam issue cooled down, so why this needless angst?

In summation, the article is high on subjectivity and opinion being pushed as objective journalism, this write-up even fails to make a link between the clickbaitey headline and the body and content of the article and leaves it to the reader to make these connections. One would definitely expect more from an organisation with the stature and reputation of The Economist.

http://www.opindia.com/2017/11/how-...d-half-truths-to-push-their-anti-modi-agenda/

The Economist and the libtards just got kicked hard in the butt! Lol!

 

[sorcerer]

Demonetisation anniversary: The man who seeded note ban idea in PM Modi's head

NEW DELHI:

Anil Bokil, the founder-member of Pune-based think tank ArthaKranti Pratishthan, is the man credited with germinating the idea of demonetisation in PM Modi's head back in July 2013 when he was the Gujarat chief minister. On the eve of the first anniversary of the surprise move to outlaw high denomination currency notes from the system, Bokil opens up to timesofindia.com on a range of issues ranging from why 'demonetisation' is not the correct term, to his views on GST and how he would have carried out demonetisation differently.


Q. There are reports that you have been pitching for demonetisation for more than 15 years. Did you suggest this idea to previous governments as well? What did you find in Narendra Modi that made you think that he is the person who can implement a step like this?

We have been presenting and demanding implementation of the ArthaKranti Proposal for more than 17 years now. We have presented it to all the major political parties. For us, implementation of the proposal has been the only goal. To every leadership, we presented it with this same aim - that - the proposal would be taken up for implementation. So, we presented the proposal to PM Modi also with the same aim. This was in July 2013 when he was Gujarat CM.

Speaking about the word 'demonetisation', there are two components of money - narrow money and broad money. Of these, narrow money also called transaction money consists of two components - currency money and bank/credit money. Since the so called 'demonetisation' exercise pertained only to the currency money, the word 'demonetisation' is inappropriate. Instead, the word 'note ban' correctly describes the exercise.

In our opinion, apart from Modiji's determination, the clear mandate to this government has a vital role in taking of a radical decision like demonetisation.

Having said that, withdrawal of High Denomination Currency Notes (HDCN) is only one of the five points of the ArthaKranti Proposal.

The Five Point ArthaKranti Proposal

• Withdrawal of existing taxation system completely (except Customs/Import Duties)

*All central, state and local government taxes - direct as well as indirect

• Every transaction routed through a bank will attract a certain deduction in appropriate percentage (say 2 per cent) as a Bank Transaction Tax (BTT) - A single point tax deducted at source

* This deduction is to be effected on receiving/credit account only

* This deducted amount will be credited to different government levels like Central, State and Local (as say, 0.7 per cent, 0.6 per cent and 0.35 per cent respectively)

*Transacting bank will also have a share (say 0.35 per cent) in the deducted amount as the bank has a key role to perform

• Cash transactions will not attract any tax

• Withdrawal of high denomination currency (say above Rs. 50)

• Government should make legal provisions to restrict cash transactions up to a certain limit (say Rs 2,000). This means, cash transactions above this limit will not enjoy any legal protection.

Q. There is an opinion that the coming back of 99.5 per cent of the demonetised notes to the banking system accounts for the failure of the move. Do you agree?

What else could happen? The demonetised notes could either come back to the banking system or become invalid after the deadline. As such, what happened is not a great surprise. The less discussed but important things are: In what volume the fake currency notes either came to light or became invalid and why was the withdrawal of HDCNs so critically important.

With nearly 30 per cent of our population below poverty line, High Denomination (Rs 500 and Rs 1,000) Currency Notes (HDCNs) accounted for about 85 per cent of total currency money by value. This made cash transactions very easy, thus boosting corruption, black money generation, parallel economy and all sorts of anti-social, anti-national activities. The HDCNs were also a rational reason for large proportion of devastating fake currency notes in circulation. The adulterated and huge proportion of cash in HDCNs, meant banks were always short of primary deposits, leading to hard and costly capital supply to the national economy. This affected one and all from farmers to businessmen.

Due to all pervasive parallel economy, democratic governing systems simply failed to control and deliver. Thus, demonetisation was a much needed step which the government took. The cash gathered in HDCNs over the years came back to banks, that is, in the national formal traceable economy. Banks now have more primary deposits at their disposal and can be converted into derivative deposits for lending purpose. Apart from this, banking/card/mobile transactions are on the rise. These are positive signs for the economy and the country as a whole.

Yet, it is far from being over. Given our per capita income and our poverty line numbers, even 500 rupee notes are required to be withdrawn. We perceive 'note ban' is just a start of a structural change. It is an ongoing process. One needs to wait for some more time to assess the complete outcome of the note ban.

Q3. Do you subscribe to the government's version that demonetisation has led to widening of tax base and has brought hoarded cash into the formal economy?

Since the hoarded cash is brought back into the formal economy, widening of tax base a natural outcome. There are many more noteworthy things. Per RBI data published on 15 September 2017:

• Re-distribution of currency: 2,000 rupee notes account for nearly 50 per cent of total currency money by value; 500 rupee notes account for nearly 22 per cent of total currency money as against 47 per cent a year ago

• 500 and 1,000 rupee notes together made it nearly 85 per cent of total currency money by value a year ago while now, 500 and 2,000 rupee notes together make nearly 72 per cent of total currency money by value

• Total volume of currency stands at nearly Rs 13.3 lakh crore as on 31 March 2017 compared to nearly 16.6 Lakh Crore Rupees as on 31 March 2016, that is, nearly Rs 3 lakh crore less

• New 200 rupee notes are being printed

• Bank money/demand deposits have increased to nearly Rs 14 lakh crore leading to increased bank money to currency money ratio from 0.6 to nearly 1

Q4. Given the fact that litigation processes in India take time to materialise, how early do you feel that hoarders of black money will get prosecuted and the 'long term benefits' of demonetisation will come to fruition?

Of the two pillars, 'law' and 'order', ArthaKranti believes in and works on the 'order' part. It is under 'law' that the litigation and punishment fall. Our thinktank works only on the 'systemic' correction. We do not believe in and work on the punishment models. As such, we always put forth the ills of cash and how HDCNs promoted it. And therefore the dire need to withdraw the HDCNs.

As regards realising the long term benefits of demonetization, it will take a while. But, even 500 and 200 rupee notes are required to be withdrawn along with 2,000 rupee notes in a phased, calculated manner. This will mean more of banking and less of cash; easier and cheaper credit/capital. At the same time, taxation needs to be much simplified. To realise all the benefits, we propose a 'Taxless, Less Cash Economy'!

Q5. What about the claims that there are other ways than hoarding cash, like investing in gold and real estate, to bypass demonetisation?

In our view, it was a must to check the hyper volatility and non traceability of money which was in the form of cash, as it was the prime factor promoting the all pervasive corruption. Also one of the main objectives of note ban was to bring back hoarded cash into the formal economy and make it a less of cash economy to also address the challenges posed by fake currency to the economy as well as security.

Q6. As you mentioned, one of Arthakranti's proposals is withdrawal of the existing taxation system. Is the current structure of GST in sync with this proposal?

In our view, GST may be better than earlier indirect taxation systems. However, Bank Transaction Tax (BTT) is the best form of taxation as it is auto-compliant, and without any discrimination and political influence. We demand that the complete existing taxation system is replaced by a single, effective Tax- the BTT. This is a win-win-win solution for the government, the taxpayer and the banks. The government gets revenue as much as needed, the taxpayer gets credit in return thanks to entry in banking and the banks get a share in each transaction thus freeing them of so far costly primary deposits which also meant costly lending.

What we have proposed is an exchange, it is not a compliance. For an exchange, there is a natural gravity unlike natural resistance to compliance of tax procedures. Everything invested in compliance is a pure cost-addition and this is on top of taxes paid. We are for simplifying the taxation system which works for everyone.

Q7. The bit of chaos that ensued post the surprise move...how do you feel about that. Is there any way that could have been avoided?

The nature of such radical decision was certainly going to be a cause for some inconvenience and trouble for the society in general. It did lead to difficulties for the common man, but, it is a matter of great appreciation that people went through all the difficulties with commendable patience considering that the step being taken is required for the common good. That is why we are ok with the courageous decision taken.

• s

Q8. Lastly, would you have implemented demonetisation in a different way? If yes, then how?

Our suggestion to the government was to withdraw HCDNs in phased manner and simultaneously withdrawing taxes along with the introduction of Bank Transaction Tax.

ArthaKranti Proposal Transition Plan is outlined below:

• As a part of transition, a clean Amnesty scheme to be announced in which all demonetised currency money to be deposited in individuals' accounts

• These deposits beyond a certain limit, to be converted in government Security Bonds of designed maturity periods

• These deposits will attract a one-time tax at progressive rate

Phase 1: First Six Months:

• Withdrawal of Central government Taxes like Personal Income Tax, Central Excise, Service Tax etc.

• Withdrawal of 1000 rupee notes may be with introduction of 200 rupee notes

• 500 rupee notes to be supplied in calculated additional numbers

• In lieu of the withdrawn taxes, a Fractional Bank Transaction Tax, say 0.55 per cent to come into effect. (Breakup: 0.5 per cent to Central government account and 0.05 per cent to the Banking System for setting up required Tax Collection Mechanism).

Phase 2: Next Six Months:

• Monitoring revenue generated through Bank Transaction Tax

• Negotiating with / Counseling State governments to withdraw All State and Local government Taxes assuring nearly 25 per cent rise in their current tax revenues via their share in the Bank Transaction Tax, based on actual Bank Transaction Tax figures

• Fixing the Bank Transaction Tax Percentage to generate required Revenues for Central, State and Local governments in lieu of withdrawn taxes

• Withdrawal of 500 rupee notes

• 100 rupee notes and if required 200 rupee notes to be supplied in calculated additional numbers

Phase 3: Next 6 Months:

• Complete transition is put in place and monitored meticulously

• Withdrawal of 200 and 100 rupee notes

• 50 rupee and lower value notes to be supplied in calculated additional numbers

https://timesofindia.indiatimes.com...dea-in-pm-modis-head/articleshow/61541278.cms

 

[sorcerer]

India begins anti-dumping probe into "cheap" paper imports

India has initiated an anti-dumping probe into imports of a certain kind of paper from Indonesia, Thailand and Singapore following complaints from some domestic companies.

The West Coast Paper Mills, Tamil Nadu Newsprint, Papers Ltd, Ballarpur Industries and JK PaperBSE -1.27 % had filed an application before the Directorate General of Antidumping and Allied Duties (DGAD) for initiation of anti-dumping investigation into imports of 'Uncoated Paper' from the three countries.

The DGAD in a notification said it has found "sufficient prima facie evidence" of dumping of such paper from these countries. This paper is used as a photocopy or copy paper.

The move is aimed at protecting domestic players in the sector against cheap imports.

"The authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry," it said.

In the probe, it would determine the existence and effect of the alleged dumping and recommend the amount of anti- dumping duty, which if levied, would be adequate to remove the injury to the domestic industry, it added.


The period of probe would be April 2016 - June 2017 (15 months) for the purpose of present investigations.

However, for the purpose of injury investigation, the period will cover the data from 2013-2016.

Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in cheap imports.

As a counter measure, they impose duties under the multilateral regime of WTO.

The duty is aimed at ensuring fair trading practises and creating a level-playing field for domestic producers vis-a- vis foreign producers and exporters.

India has already imposed anti-dumping duty on several products to tackle cheap imports from countries, including China.

Read more at:
//economictimes.indiatimes.com/articleshow/61544298.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst



This is how domestic industry is protected..by acting on complaints..not complaining about economy on microphone

 

[aditya10r]

India begins anti-dumping probe into "cheap" paper imports

India has initiated an anti-dumping probe into imports of a certain kind of paper from Indonesia, Thailand and Singapore following complaints from some domestic companies.

The West Coast Paper Mills, Tamil Nadu Newsprint, Papers Ltd, Ballarpur Industries and JK PaperBSE -1.27 % had filed an application before the Directorate General of Antidumping and Allied Duties (DGAD) for initiation of anti-dumping investigation into imports of 'Uncoated Paper' from the three countries.

The DGAD in a notification said it has found "sufficient prima facie evidence" of dumping of such paper from these countries. This paper is used as a photocopy or copy paper.

The move is aimed at protecting domestic players in the sector against cheap imports.

"The authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry," it said.

In the probe, it would determine the existence and effect of the alleged dumping and recommend the amount of anti- dumping duty, which if levied, would be adequate to remove the injury to the domestic industry, it added.


The period of probe would be April 2016 - June 2017 (15 months) for the purpose of present investigations.

However, for the purpose of injury investigation, the period will cover the data from 2013-2016.

Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in cheap imports.

As a counter measure, they impose duties under the multilateral regime of WTO.

The duty is aimed at ensuring fair trading practises and creating a level-playing field for domestic producers vis-a- vis foreign producers and exporters.

India has already imposed anti-dumping duty on several products to tackle cheap imports from countries, including China.

Read more at:
//economictimes.indiatimes.com/articleshow/61544298.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst



This is how domestic industry is protected..by acting on complaints..not complaining about economy on microphone

Thank you modi for pushing Anti dumping laws against cheeni maal.

Now I will put my money on paper companies shares and I will make money.

________________________________________

Same I did when you passed anti dumping maal against cheeni steel.

 

[sorcerer]

Thank you modi for pushing Anti dumping laws against cheeni maal.

Now I will put my money on paper companies shares and I will make money.

________________________________________

Same I did when you passed anti dumping maal against cheeni steel.

SAIL (Steel Authority of India ltd )is a good bet as most govt contracts are now awarded to SAIL by the central govt than to pvt players which was the standard under SCAMGRESS GOVT and they let SAIL rot.
also sail completed its capacity enhancement just this year So for me it looks good.

 

[sorcerer]

Major rejig in GST rates for goods in 28% slab on anvil

Read more at:
//economictimes.indiatimes.com/articleshow/61539118.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[aditya10r]

SAIL (Steel Authority of India ltd )is a good bet as most govt contracts are now awarded to SAIL by the central govt than to pvt players which was the standard under SCAMGRESS GOVT and they let SAIL rot.
also sail completed its capacity enhancement just this year So for me it looks good.

Sail has grown over 33% in 1 month.

Would be difficult to carry the same momentum but that is a very great start.

 

[Peter]

Thanks for the explanation. Yes, I too agree, this is a low risk remedy.

What is Jai Italy? Is it a portmanteau of Amit Shah's son Jai (Jay) Shah and Sonia Gandhi's native country Italy?

I think he is referring to Arun Jaitly who runs the Finance Ministry.

 

[F-14B]

the Right Honorable Man Mohan "robot" Singh speaks
https://www.msn.com/en-in/money/top...n-singh/ar-AAuxc3k?li=AAaeRVN&ocid=spartandhp

 

[sorcerer]

NIA on a roll - Arrests 9 and seizes Rs 36 crore in demonetised banknotes linked to Terror Funding


The National Investigation Agency (NIA) seized over Rs 36 crore in demonetised currency notes, allegedly linked to financing of terrorist and separatist activities in Jammu and Kashmir, and arrested nine people on Tuesday.

Seven people were intercepted by an NIA team in Connaught Place area on Monday when they were carrying 28 cartons filled with demonetised Rs 1,000 and Rs 500 notes in four vehicles - BMW X3, Hyundai Creta SX, Ford EcoSport and BMW X1, an NIA spokesperson said.

They were brought to the NIA headquarters for questioning, he said, adding that Rs 36.34 crore in demonetised currency notes was seized from them.

Later in the evening, three other members of the gang were apprehended.

"After initial questioning, nine people were arrested in the Jammu and Kashmir terror funding case and they will be produced in a special NIA court on Wednesday," an official said.

The arrested are Delhi residents Pradeep Chauhan, Bhagwan Singh and Vinod Shreedhar Shetty, Deepak Toprani of Mumbai, Ejajul Hassan of Amroha, Jaswinder Singh of Nagpur, and Jammu and Kashmir-residents Umar Mushtaq Dar (Pulwama), Shahnawaz Mir (Srinagar) and Majid Yousuf Sofi (Anantnag).

The spokesperson said that agency got an input about their activities while investigating a case relating to the financing of terror activities in Kashmir Valley.

During the probe, he said, it emerged that people and entities linked to separatists and terrorists were still in possession of a significant amount of demonetised currency notes that could not be converted into new ones.

"Surveillance was mounted on such persons and entities. This led to unearthing of a conspiracy wherein a gang of such persons were making an attempt to convert this demonetised money into valid currency (notes)," the official said.

https://timesofindia.indiatimes.com...banknotes-9-arrested/articleshow/61549185.cms




Cross posting!!!! Related to Demonetization.

 

[pmaitra]

I think he is referring to Arun Jaitly who runs the Finance Ministry.

Oh, yes, you are right.

This guy is busy releasing short bursts of sweet nothings to the press. Everyday, I see some news about this. Looking forward to a white paper from him.

Today, even the Defence Minister jumped in the fray: Demonetisation 'choked funds to terrorism': Defence minister

While the Ministry of Finance does not come under her jurisdiction, the Ministry of Defence does. So, she has a legitimate position to comment from.

We were told, DeMonetization was done to reduce terror funding.

Has it worked?

A look at the data indicates that there has been no significant reduction in terrorist attacks or casualties.

Spoiler: Data 2016 and 2017 (partial)

Source: http://www.satp.org/satporgtp/countries/india/states/jandk/data_sheets/annual_casualties.htm

Coming to casualties, if we look at the past 5 years (excluding 2017, because it is not over yet), the best year was 2012.

So, we come back to the original claim:

DeMonetization was done to reduce terror funding. Fine.
What was ReMonetization done for? To increase terror funding?

Now, if demonetization is linked to terrorism, then the casualty count should also include those killed standing in front of queues. I don't think Jaitley would be particularly enthusiastic about this idea though. He is busy attacking Manmohan Singh instead.

Personally, I am glad we had Manmohan SIngh at the top in 2008 (year the recession manifested), and not this lousy leadership we have today.

 

[Kunal Biswas]

It did stopped terror funding to a great extend & Its effects are still on ..

DeMonetization was done to reduce terror funding. Fine.
What was ReMonetization done for? To increase terror funding? .

 

[pmaitra]

It did stopped terror funding to a great extend & Its effects are still on ..

No, it did not.

Look at the data first.

If you want to make a claim, please back it up with data.

 

[Kunal Biswas]

My data is my boots which are on the ground here, No new weapons and sophisticated gears so does they lack informants ..

No, it did not.

Look at the data first.

If you want to make a claim, please back it up with data.