Political films don’t influence outcome of elections, says Prakash Jha

By

-

January 16, 2019

Political films are the flavour of Bollywood in 2019 ahead of Lok Sabha polls but according to filmmaker Prakash Jha these movies have no effect on elections.

While “Uri: The Surgical Strike” and “The Accidental Prime Minister” were the first releases of the new year, other films in the polarised political space to follow through are “Thackeray” and “The Tashkent Files”.

“The Accidental Prime Minister”, starring Anupam Kher as former prime minister Manmohan Singh and based on a book by his former media advisor, released amid accusations that it portrays the Gandhi family in poor light.

The Congress termed the film “propaganda” ahead of the general elections.

But Jha says labelling the films is not a new phenomenon as even his film, the critically-acclaimed “Raajneeti” (2010) was called a propaganda film.

“People will call films what they want to. They were hurt when I made ‘Raajneeti’. What propaganda will happen in ‘The Accidental Prime Minister’? All this propaganda will not affect the outcome of the elections,” the director told the agency.

Two biopics on Prime Minister Narendra Modi have been also announced, one by BJP MP Paresh Rawal and another with Vivek Oberoi in the lead.

And the filmmaker believes the trend shows that it is “an interesting subject and people are trying to make an interesting film on it”.

Meanwhile, Jha’s production “Fraud Saiyyan”, featuring Arshad Warsi and Saurabh Shukla, is slated to be released Friday.

Cabinet approves Rs 22,594-cr Numaligarh Refinery capacity expansion project

By

Web Team

-

January 16, 2019

The government on Wednesday approved a capacity expansion plan for Numaligarh Refinery in Assam from the existing 3 million metric tonne per annum (MMTPA) to 9 MMTPA at an estimated cost of Rs 22,594 crore.

The project is to be completed within a period of 48 months after the approval and receipt of statutory clearances, Union minister Piyush Goyal told reporters while briefing reporters here.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, gave its approval to the project for expansion of Numligarh Refinery Assam with capacity to be expanded from 3 MMTPA to 9 MMTPA.

The expansion project involves setting up crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri at a cost of Rs 22,594 crore, he said.

IOC to raise $3 bn more in overseas loan

By

Web Team

-

January 16, 2019

State-owned Indian Oil Corp (IOC) may raise about $3 billion more through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value, its Chairman Sanjiv Singh said on Wednesday.

IOC is already in market to raise $900 million through a bonds issue and is raising an equivalent sum through a syndicated loan for meeting its working capital requirements.

“Yes, we will certainly look at raising more overseas loans within the limit set up by RBI,” he told reporters.

RBI had in October last year relaxed external commercial borrowing (ECB) policy for IOC, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) to allow them to raise $10 billion in overseas loans for working capital needs. It had lifted the individual borrowing limit for the three firms which was set at $750 million.

“The three OMCs (oil marketing companies) were allowed to raise $10 billion and we reckon our share of that would be around $5 billion,” he said. “We will certainly look at opportunities to raise overseas funds.”

He, however, said no timelines have been set for raising of additional loans.

Singh said since India imports over 80 per cent of its crude oil and pays most of it in US dollars, an overseas loan in the American currency acts as a natural hedge during currency fluctuations.

Economic Affairs Secretary Subhash Chandra Garg had in October stated that the RBI relaxation would help the oil companies raise as much as USD 10 billion for maturity periods of three to five years.

The RBI move had followed rupee losing 13 per cent to the dollar during the year and allowing oil companies – who are the biggest buyers of US dollars – to raise overseas loans that would ease pressure on the currency.

IOC in a regulatory filing on Tuesday said that it has launched an international bonds issue of $900 million, carrying a coupon of 4.75 per cent.

SBI along with other lenders, stakeholders working on resolution plan: Jet Airways

By

Web Team

-

January 16, 2019

Crisis-hit Jet Airways on Wednesday said State Bank of India along with other lenders and stakeholders is working on a comprehensive resolution plan to turnaround the airline.

The full service carrier, which has been grappling with financial woes, defaulted on loan repayment to a consortium of Indian banks led by State Bank of India (SBI) on December 31, 2018.

In a statement, the airline said a resolution plan that contemplates various options, including proportion of equity infusion by various stakeholders and the consequent change in the company’s board, is being worked out.

“SBI in consultation with the other members of the consortium and the other stakeholders has been working on a comprehensive resolution plan towards a turnaround of the company for its sustained growth and restoration of financial health,” Jet Airways said.

The airline also said the resolution plan is presently under active discussion amongst the stakeholders and that the various options are yet to be crystallised and agreed to by the stakeholders in the best interests of the company.

RBI Governor to meet industry chambers on Thursday

By

Web Team

-

January 16, 2019

New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das will meet industry chambers on Thursday to understand their issues and concerns.

After his taking over as 25th Governor of the RBI last month, he has been holding consultations with various stakeholders including banks, non-banking financial companies and micro, small and medium enterprises. “Will meet the apex chambers/associations of industry and commerce tomorrow (17th January),” Das said in a tweet.

The meeting comes ahead of the sixth bi-monthly monetary policy statement for 2018-19 scheduled to be announced on February 7. Industry has been pitching for the rate cut amid falling inflation and factory output.

Continued decline in food prices pulled down retail inflation to an 18-month low of 2.19 per cent in December 2018. Another set of official data showed that the wholesale inflation also eased to an eight-month low of 3.80 per cent in December on softening fuel and food prices.

The inflation based on the Consumer Price Index was 2.33 per cent in November and 5.21 per cent in December 2017. The RBI, which mainly factors in retail inflation, has been tasked by the government to maintain the inflation near 4 per cent.

The factory output based on movement in the Index of Industrial Production (IIP) slumped to a 17-month low of 0.5 per cent in November on account of contraction in the manufacturing sector, particularly consumer and capital goods.

Swimmer Nataraj makes splash at Khelo; now eyes World C’ships

By

Web Team

-

January 16, 2019

Budding Karnataka swimmer Srihari Nataraj had a 100 per cent record at the Khelo India Youth Games, winning gold in each of the seven events he took part in the competition here.

At last year’s Khelo India School Games, Nataraj had won six gold medals and this time bettered his show.

Another Karnataka swimmer who caught the eye was Likith SP, who ended his campaign at the Games with six medals, including five gold, a media release said on Wednesday.

When asked about their friendship, the Karnataka boys, Likith and Srihari, said they always help each other improve as swimmers.

“I see great potential in Srihari and I am sure he will achieve big things in the time to come,” said Likith.

Having already represented India at the Youth Olympics and the Asian Games in 2018, Srihari will now turn his focus towards the World Championships to be held in South Korea later this year as he hopes to bring laurels to the country.

“I have a few important exams to finish now, after which I will begin my preparations for the World Championships,” Srihari was quoted as saying in the release.

Likith, like his friend Srihari, will be looking forward to the World Championships in July and will begin his preparation at the earliest.

Novak Djokovic, Rafael Nadal and I still Grand Slam favourites: Federer

By

Web Team

-

January 16, 2019

Roger Federer has given cold comfort to the next generation of men’s players hoping for Grand Slam glory, saying he, Novak Djokovic and Rafael Nadal are still deserving favourites to claim the game’s biggest trophies.

The top three seeds at Melbourne Park raffled all four of the majors between them last year, with Federer winning his sixth Australian Open, Nadal claiming his 11th French Open and world number one Djokovic sweeping Wimbledon and the U.S. Open.

The Swiss master is bidding for his 21st Grand Slam crown and a hat-trick of Melbourne titles this year, and he sailed into the third round on Wednesday with a straight sets win over British qualifier Dan Evans.

Before the tournament, top seed Djokovic declared the three should be favourites to win the Slams, and Federer agreed when asked after his Evans match.

“Yes, I guess so,” the third seed told reporters.

“I mean, look, I think we know how to win Slams, Novak, Rafael, myself. I mean, Rafael has to be the number one favourite, I don’t care how he feels, before the French.

“Novak is always a favourite on the hard courts, basically any court if he’s feeling 100 per cent, if he plays like last year.

“Maybe just because of my amount of titles I have at Wimbledon and other places, maybe also have to put me in the mix every time, as well.”

Youngsters focussing solely on shorter formats could have problems playing Test: Virat

By

Web Team

-

January 16, 2019

Virat Kohli has no peers when it comes to ODI cricket but he has priceless message for youngsters — sole focus on limited overs formats shouldn’t be used an “excuse” of not being able to cope with challenges that Test cricket presents.

World’s No. 1 batsman with 25 Test hundreds warned that youngsters will have mental problems if they don’t embrace the pristine form of five-day cricket.

“If we focus too much on shorter formats – yes, they’re important – but if we solely focus and look at them as an escape or an excuse to not be in the kind of situations that Test cricket presents to you, then I think there will start being a mental problem with the cricketers coming up,” Kohli was quoted as saying by Star Sports.

The Indian skipper, who has played a few defining knocks against world class bowlers like Jimmy Anderson, Stuart Broad and Mitchell Starc during the past year spoke about the hardwork that goes into making of a quality Test player.

“As long as you’re willing to wake up every morning for five days and do the hard yards and go do the dirty work – if you’re willing to bat for two hours and not score a run for the team – I think that is what people should prepare (youngsters) (for).”

Kohli said that the current batch of Indian Test cricketers are trying to set an example for the younger generation.

“That (vision) will require the team to lay out a certain things that needs to be done and for the next lot to keep following. So (when) the next lot that comes in, they have to maintain that vision and then the people coming in will follow.”

Virat Kohli has reaffirmed his commitment towards Test cricket, saying he wants India to become a superpower in the game’s longest format.

Number-one ranked India recently won their maiden Test series in Australia under Kohli’s leadership.

Kohli was made India captain for the first time in the middle of the 2014-15 Test series in Australia with MS Dhoni announcing a shock retirement. He credited coach Ravi Shastri for making his job easier.

Nehwal, Srikanth make winning start to Malaysia Masters

By

Web Team

-

January 16, 2019

Indian shuttlers Saina Nehwal and Kidambi Srikanth made a winning start to their campaign at the ongoing Malaysia Masters on Wednesday.

While Nehwal defeated Deng Joy Xuan of Hong Kong 14-21, 21-18, 21-18 to move into the second round of the women’s singles event, Srikanth eases past Honk Kong’s Angus Ng Ka Long 21-17, 21-11 to advance further in the men’s singles event of the tournament.

Nehwal looked tentative in the initial stage of the match but soon made a comeback with a resilient attitude. Having lost the opening margin of seven points, the shuttler gave an impressive performance in the consecutive games to move further in the competition.

For Srikanth, the battle was comparatively easy as he registered a dominating straight sets victory over his Hong Kong counterpart. Without showing any signs of weakness, the world number eight player maintained a firm grip on the match from start to end.

Another Indian shuttler Parupalli Kashyap also made it to the second round of the Malaysia Masters after defeating Rasmus Gemke of Denmark 19-21, 21-19, 21-10 in an exciting contest.

In mixed-doubles event, Indian pair of Pranaav Chopra and N. Sikki Reddy defeated Dutch duo of Robin Tabeling and Selena Piek 21-19, 21-17 to move into the second round of the competition.

Odisha Cong presidents resigns, ready to join BJD

By

Web Team

-

January 16, 2019

In a major setback for the opposition Congress in poll-bound Odisha, its working president and Jharsuguda MLA Naba Kishore Das has resigned from the primary membership of the party. However, he has not resigned from the membership of the Odisha assembly, election to which is slated to be held along with the Lok Sabha polls this year.

Das, a two time legislator, has sent his resignation letter to Congress president Rahul Gandhi, who is scheduled to visit the state on January 25. Das said that he will join the ruling BJD to take forward the developmental activities in his Jharsuguda assembly constituency.

A copy of the resignation letter was also sent to Odisha Congress chief Niranjan Patnaik and All India Congress Committee (AICC) general secretary in-charge of Odisha, Jitender Singh.

Das stated that he has resigned from the Congress following requests by voters of Jharsuguda who want the area to be developed. I do not have any complain against Niranjan Patnaik, president, PCC, Odisha. I have a very cordial relationship with him. I apologize for this resignation as done so for the motto i.e. development first. So I should join hands with Naveen Patnaik, he indicated that he would join the BJD on January 24.

Two days ago, when Das indicated that he would quit the Congress, Niranjan Patnaik had said it will not affect the poll prospects of the party. Das is a popular leader in Jharsuguda district. He had defeated BJD candidates in 2009 and 2014 assembly elections. He is also credited with ensuring Congress victory during the 2017 zilla parishad elections in Jharsuguda. Of the nine zilla parishad seats in Jharsuguda district, Das had ensured victory of Congress candidates in eight.

Niranjan Patnaik wrote on Twitter, “As I had clarified to media, news like this does pain me. But, in hindsight, I think this is good for us. People who are not committed to the ideology & treat politics as commercial activity are doing great service to us by quitting.