Over 92+ nations in pipeline
.@MEAIndia says from 20 Jan, India gifted over 5.5 million doses to neighbours
Sri Lanka (500,000)
He was famously called 'Mamata's Billionaire' by a news magazine.
Others called him 'Mamata's Moneybag'.
He used to fly in the sky only in private jets and drove around in snazzy, customised cars on land. (Incidentally, the car designer was arrested recently in an unrelated case)
The family loves cars...really, really digs a fancy set of wheels!
Chandigarh residents would recognise the car in the images below - the super high-end 2008 Arancio Atlas (Pearl Orange) Lamborghini Murcielago LP640 coupe.
It is not just cars.
The family has interests in many businesses incl healthcare, pharma, a republic of chicken shops, townships, infrastructure, tea estates.
But no biz got it as much money (and infamy) as Chit Funds.
The flagship is publicly listed but the share has languished.
Since a Congressman is critical of India's move to not join China-backed RCEP treaty, here's a reporters memory on an Indian commerce ministry led delegation to Pakistan via Attari-Wagah in Feb 2012.
It was supposed to be a historic, breakthrough visit in which Pakistan...(1/2)
..was to bestow Most Favored Nation status on India (we had already granted MFN to Pakistan & imposed no formal trade restrictions on them)
The 80+ Indian delegation was full of excitement. After all, it was the 1st visit by an Indian commerce minister in over 3 decades....
...to our perennially hostile, pain-in-the-arse neighbour.
There were no major outcomes from the visit for India. Even as the Indian minister was speaking at an event in Karachi, the Pakistan Cabinet met in Islamabad and refused to reciprocate with MFN status for India!
Unfortunately, some of the crappiest comments on the impact of the #chineseapp ban are from some very experienced analysts & commentators in India.
Come on, folks!
Pause, think, reflect before you vomit all that ignorance out of your guts!
China BANS every app from overseas!
The Chinese economy has been BUILT on denying market access. Ask FB, ask Twitter, ask Google, ask so many others!
China's BAT economy (Baidu, Alibaba, Tencent) copied successful US & Western co biz models. What wasn't copied, was pilfered.
China blocks access to its mkt& users.
Have you heard about the Great Wall of China? No, I am not talking about that construction marvel. It is the Digital Great Wall. Google it.
India has been one of the MOST OPEN economies.
But, what do you do when data is stolen? What about privacy-is it only required for Aadhaar?
Govt says attempts being made in some quarters to give a mischievous interpretation to remarks by the Prime Minister at the All-Party Meeting (APM) yesterday.
PM’s observations on no Chinese presence on our side of LAC pertained to situation as a consequence of the bravery of our armed forces.
“Those who tried to transgress our land were taught a befitting lesson by our brave sons of soil”, summed up ethos & values of our armed forces.
What is Indian territory is clear from the map of India. This Govt is strongly & resolutely committed to that. Insofar as there is some illegal occupation, the APM was briefed in great detail how over the last 60 years, more than 43,000 sq.km has been yielded...
Thread on what I call 'Project Deep Eyes':
•Even as talks continue with China to further deescalate at the LAC, it bears repetition that India does not go around grabbing territory.
•It is China which has a history of incursions.
•So, how do we preempt these incursions? (1/8)
Recall the latest standoff at 3 points in Galwan Valley & near Pangong Lake, East Ladakh.
Initiated by China's PLA mid-April, the incursion, Indian Express alleges, caught us napping.
But, how could ITBP & Army have got early warning of China’s dirty designs on the LAC?
As is well known, in 2014, twin-engine patrol boats & long-range high-res camera were acquired for surveillance of & across the Pangong Tso.
Military planners wanted this due to past history of various incursions by the Chinese forces.
How did it go & what did it yield?
Here's a sample of social media posts by several Kashmiri Muslims celebrating the cowardly murder of a 35-year old Hindu earlier today.
•His family believed in 'Kashmiriyat'.
•He was 5 years old in 1990 when hundreds of other Hindus were killed similarly in Kashmir.
This is the blood of the Hindus of Kashmir.
•It has spilt long.
•It has spilt too much.
•The terrorists call him a political leech, a stooge & the favourite canard to describe a hapless minority person in Kashmir - a "collaborator".
This is exactly what they said in the 90's.
To those who celebrate yet another murder of a member of the minority in Kashmir, I say:
•"Tum kitne Ajay maroge, har ghar mein Bharti jeeta hain. Tum kitna bhi khoon bahaoge, ek Singh hi kaafi hota hain"
My homage to another martyr at the hands of brutal terrorists of Kashmir.
Insolvency & Bankruptcy Code:BIG
●Debts related to #Covid_19india will be excluded from default under IBC
●No fresh insolvency proceedings for 6 months (1yr)
●Special insolvency framework for MSMEs u/a 240A
●Minimum threshold for MSME insolvency raised to Rs 1Cr via Oridnance
●Most sections in Companies Act related to technical violations to be decriminalized
●Amendments via Ordinance to drop 7 compoundable offenses + 5 others.
4th package focusses on measures for self-reliant India.
☆"We are not looking inwards. Its about making India strong to face global challenges."
☆"Policy simplification, decongesting sectors for necessary growth boost. Deep systemic reforms".
FM says not a single phone call to banks (from anyone in govt) seeking loans for someone since 2014.
Structural reforms is focus of 4th economic package.
Fascinating details from a Reliance Industries (RIL) corporate presentation on the behemoth.
Thread on highlights from "New Reliance for a New India" for investors feeling left out after recent Jio deals with FB etc (the prospects of great returns will be tantalizing).
RIL's Oil-to-Chemicals (O2C) is world class platform & most profitable biz. Past investments make O2C biz future-proof.
Consumer biz rapidly scaled up to mkt leadership in 5 years, with 2x EBITDA growth. $23.4bn cash & equivalent.Imprvd cash flow gen=greater shareholder benefits.
RIL says re-rating of stock to continue with increasing share of consumer businesses in earnings.
Digital platforms & ecosystems being created by Jio will be primary drivers of growth, "company best placed to capitalize on India's massive growth opportunity".
3 senior IRS officers issued chargesheets, for creating policy uncertainty & panic by unauthorisedly publishing tax hike report and misguiding younger officers
Chargesheets under Rule 14 of CCS (CCA) Rules, 1965 for violation of CCS (Conduct) Rules, 1964.
Officer divested of current responsibilities. Action taken by CBDT in view of their role and complicity in the preparation of the “tax hike” report named ‘FORCE’ which was being circulated and widely covered in media since Apr 25.
CBDT prelim inquiry concluded that the FORCE report created panic and tax policy uncertainty in the already stressed economic conditions in India. (3/4)
@FinMinIndia sources say the IRS Officers tax hike report is ‘irresponsible’. An explanation has been sought for the "ill-conceived report" by a group of officers through IRS Association giving suggestions on increasing taxes, etc in difficult time of Covid-19 pandemic. (1/2)
Releasing the report in media via IRS Association Twitter & website is ‘an irresponsible act’ of a few officers.
"Neither IRS Association nor any group of officers were ever asked by the Govt to give any report. It was not even part of their duty to prepare such a report." (2/3)
"Therefore, it is prima-facie an act of indiscipline & violation of conduct rules which prohibit officers to go to media with personal views on official matters without prior sanction/permission of govt. Concerned officers will have to explain their misconduct." (3/4)
DIPP seeks free movement of all vehicles, manpower for continuing activities permitted so far by MHA.
"We are facing a lot of problems on this and very clear reiteration of the MHA stand to allow free movement of vehicles and manpower in these sectors needs to be done": @DIPPGOI
@DIPPGOI to MHA: Big companies with proper sanitation and distancing norms in place in sectors such as textiles, automobiles and electronic manufacturing (20% to 25% capacity in single shift may be considered to start with).
Many Indian consumers, staring at personal loan repayment defaults, to need help.
1.Waive interest & penalty for 3-6 months 2. Extend term correspondingly. 3. Reset interest rate. 4. No foreclosure or recall.
(For personal loan categories, barring credit cards)
Create NEW consumer demand:
*Purchase of home <2000 sq.ft super area:
Offer one-time tax deduction on down payment (up to 20% of cost) for home loan taken via all banks.
Scheme period: Apr-Sep 2020
100% deduction on amount paid from FY21 income tax liability of purchaser. (2/3)
Offer one-time tax dedn on upfront payment made (30% of cost of upto Rs 1 lakh) for loan taken via all banks.
Scheme period: Apr-Sept 2020.
Allow full deduction of amount paid from FY21 income tax liability of purchaser. (3/4)
"Pakistan has given up on azadi & shut the door on us. Resistance will now be a futile exercise"
That is the sense of the street in #Kashmir even as there is visible disappointment about the perceived loss of the special status. "Modi has shocked & surprised Pakistan again" (1)
Small demonstrations have happened, injuries & two deaths claimed. Yet, consensus gaining ground in #Kashmir that no major flare up will happen as #Pakistan has been rendered incompetent to do anything."UN jaane se kya hoga? UN toh Srinagar mein itne saal se!"
No mass resignations in govt or local police services. Reports of a RPO quitting in protest. However, what is key to note is the SP rank officer, said to be related to Sajjad Lone, had ALREADY quit 20 days ago! @ahmedalifayyaz tells me his resig not linked to 370, 35A move (3)