Around the Globe

Around the Globe

PM hopes for comprehensive discussions during Budget session

Ahead of the start of the Budget session, Prime Minister Narendra Modi today hoped for a comprehensive discussion in Parliament.

He noted that in the last few days, the government has held discussions with all political parties to ensure that House proceedings are not disrupted.

There should be comprehensive discussion for welfare of society, Modi told reporters outside Parliament.

The Prime Minister said he has faith that all factions will come together in Parliament for welfare of society.

President for debate on simultaneous LS, Assembly polls

President Pranab Mukherjee today favoured a constructive debate on simultaneous elections to Lok Sabha and Assemblies and funding of polls to eradicate money power.

The Government, he said, is also committed to combating terrorism and to ensure that perpetrators of such acts are brought to justice.

Akhilesh downplays Mulayam’s displeasure

Seeking to downplay Mulayam Singh Yadav’s outbursts over the alliance between Samajwadi Party and Congress, Akhilesh Yadav on Monday said he is “sure” that his father will take part in campaigning and will be “most happy” when SP is voted back to power. “I am sure Mulayam Singh Yadav will campaign for us. He (Mulayam) will be most happy if Samajwadi Party comes to power in the state,” the SP president said. He was addressing a series of public meetings in Etah, Jaithra, Patiyali and Kasganj.

Sops to common man, cut in corporate tax on the cards

Finance minister Arun Jaitley may perform a careful balancing act when he stands up to present his fourth budget on Wednesday. He is expected to offer tax sops and incentives to the common man to offset the pain of demonetisation, while also reduce corporate tax to bring in the feel-good sentiment.

Voda gets backdoor entry to bourse

The all-stock deal will also allow Vodafone a backdoor listing in the Indian bourses. The Vodafone Group has been planning to list its India business and now will be getting listed without actually going through the IPO process if the merger deal with Idea Cellular materialises.
According to analysts, the combined entity would become an industry leader in the telecom space and Vodafone’s merger with Idea may lead to a backdoor listing of the business without the IPO process.

RBI sets rupee reference rate at 68.0426 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 68.0426 against the US dollar and 72.9621 for the euro.

The corresponding rates were 68.2043 and 72.7467, last Friday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.5159 and 59.38 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

Should LG be part of plea against Del assembly session,asks HC

Delhi High Court today sought the Centre's response on whether the Lieutenant Governor was a necessary part of litigation pertaining to alleged illegal convening of a two-day session of Delhi Legislative Assembly.

The court was hearing a plea challenging the legality of the two-day winter session of the Assembly held on January 17 -18, 2017, and the decisions taken during the sitting.

Faced with protests, Trump insists travel curbs not Muslim ban

An unfazed Donald Trump has insisted that his controversial decision to impose travel curbs on people from seven predominantly Islamic countries was "not a Muslim ban" as the White House doubled down to defend the step as a move to avoid a situation that exists in parts of Europe.

"To be clear, this is not a Muslim ban, as the media is falsely reporting. This is not about religion - this is about terror and keeping our country safe," the US president said.

Toyota sold 10.2 million vehicles worldwide, fewer than VW

Toyota has relinquished the title of the world's biggest automaker, reporting today that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen's 10.31 million.

General Motors reports its tally next week. If GM's number falls short, it will be the first time the German automaker has become No. 1.

It's a milestone achievement despite the taint to VW's reputation from a huge scandal over cheating on emissions tests. Booming China sales helped offset that damage.

Cut indirect tax rates: Chidambaram

Ex-finance minister P Chidambaram has advocated cut in indirect tax ra­tes to mitigate the people’s hardships, following the demonetisation by the Centre.
“The correct tax to cut is the indirect taxes. You sho­u­ld cut service tax, excise and customs duty. Any cut in the indirect taxes will benefit millions. A direct tax cut will only benefit a small number of people – not more than 25-50 lakhs. Indirect tax cut will benefit crores and stimulate the economy,” said Chidam­baram here on Saturday. “If I was the finance minister today, I would have cut indirect taxes,” he said.