Govt may miss divestment target by Rs 20,000 cr: Report

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January 18, 2019

The government is unlikely to meet the Rs 80,000-crore disinvestment target by Rs 20,000 crore, leading to fiscal slippage, according to a report.

Fiscal deficit will come at 3.5 per cent as against the targeted 3.3 percent on the shortfall in disinvestment mop-up and also the dip in the GST collections, domestic rating agency Care Ratings said on Friday.

“In this fiscal year, meeting the disinvestment target of Rs 80,000 crore will be challenging given the volatile conditions in the financial markets. We expect that disinvestment proceeds could be around Rs 60,000 crore for FY19,” it said, adding in the past four years, it has not been able to achieve the divestment target except in 2017-18.

On an average, the government has achieved nearly 65 per cent of the budgeted divestment target between FY14 and FY17, it said, pointing out that FY14 was the lowest with divestment proceeds being only 53 per cent of the targeted.

In FY18, total disinvestment proceeds came in at Rs 1 trillion, exceeding the budgeted target of Rs 72,500 crore, the report added.

With a little over two months to go for the fiscal year to end, the government had raised Rs 32,142 crore, or 43 per cent of the target as of December, it said.

A bulk of Rs 25,325 crore has been raised through the Central public sector enterprises exchange traded fund (ETF) route, which allows simultaneous sale of government stake in various CPSEs across diverse sectors through single offering, it said.

Offer-for-sale comes in second with Rs 5,218 crore, followed by over Rs 1,500 crore raised through buybacks.

As the government is far from the target, it has decided to come up with another tranche of ETF in the form of further fund offer of Bharat 22 ETF, and can raise about Rs 14,000 crore by selling 52.63 percent stake in Rural Electrification Corporation, the report said.

It can raise another Rs 12,000 crore through buybacks of shares of public sector units, the agency said, doubting how much of the alternatives that can be used given the volatile markets.

BJP leader resigns from the party: ready to join grand..

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January 18, 2019

(BIHAR)

Former BJP MP Uday Singh, who has represented the Purnea Lok Sabha constituency in Bihar twice, announced his resignation from the party here on Friday alleging that it has surrendered before the discredited JD(U) headed by Bihar Chief Minister Nitish Kumar.

Singh did not reveal his cards saying until resigning from the BJP, I had no right to negotiate with any other party but gave ample hints saying I may join a Grand Alliance constituent. He stated that he saw Congress president Rahul Gandhi’s popularity growing even as Prime Minister Narendra Modi of whom he had been an ardent supporter, seemed to have withdrawn himself from reality even if he has good intentions. He also said that even while in the BJP, I never approved of the slogan of Congress-mukt Bharat. A democracy cannot survive if the opposition is wiped out. It will degenerate into a totalitarian regime.

Singh, whose elder brother N K Singh is the Chairman of the 15th Finance Commission, had lost his seat in 2014 to JD(U)s Santosh Kushwaha by a margin of more than one lakh votes notwithstanding the strong Modi wave. With the BJP and the JD(U) having agreed to fight 17 seats each, leaving six for Ram Vilas Paswans LJP, and Purnea being a sitting seat of Nitish Kumars party, there is little likelihood for Singh being considered for the seat, which he had won in 2004 and 2009 and his mother Madhuri Singh had represented as a Congress nominee in the 1980s.

Singh, however, maintained that his decision had nothing to do with the possibility of getting a ticket from my seat as NDA constituents are yet to finalize which constituency will be fought by which party. Replying to a query, he said so far that I have had no talks with Rahul Gandhi or (RJD supremo) Lalu Prasad. But I am looking forward to speaking to them after taking my supporters into confidence. He also claimed that there was widespread resentment among the party’s cadre over the undemocratic style of current leadership and remarked it is so difficult to meet BJP president Amit Shah. RLSP chief Upendra Kushwaha kept requesting for an appointment, which was never given, and he ultimately had to resign from the Union council of ministers and quit the NDA in sheer disappointment.

Committed BJP workers are appalled over the manner the party agreed to share power with Nitish Kumar, forgetting our bitter experiences with him in the past, and also over the fact that his government is rapidly losing goodwill. Now the BJP will end up sharing the blame for his misdeeds. And as if that was not enough he was given such a massive share of seats, he remarked.

‘Don’t rely on rumours’, Thane Commissioner convinces parents about vaccinating kids

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January 18, 2019

Thane Commissioner Sanjeev Jaiswal appealed religious gurus, representatives of various political parties, social activists, teachers at Kausa in Thane to take initiative about awareness for vaccination campaign .He also appealed the public to not to believe the rumours spread around & should vaccinate their kids with rubella and measles vaccination as they are very essential for their wellness. Jaiswal further said that this vaccine meets international standards in quality and had been injected to 20 crores of students so far. Parents should not believe any spread around rumours and should vaccinate their kids to maintain their good health.

A meeting has been hold by local corporaters and MNC to create awareness and also to clear clouds of rumours among the locals spread about rubella and measles vaccines. Maulvis, political party representatives, social organisation representatives attended this meeting at Diamond hall in Kausa. Additional commissioner Arun Ahivar , corporator Rupali Gote, social worker Rutuja Avhad were also present at the meeting which saw huge response from local parents and teachers.

CBFC should lift ban from ‘No Fathers In Kashmir’: Alia Bhatt

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January 18, 2019

(BOLLYWOOD)

Actor Alia Bhatt has come out in support of her mother Soni Razdan’s film “No Fathers in Kashmir”, which is has been stuck over certification issues, saying that the movie is about compassion and the CBFC should lift the ban on it. However, The Central Board of Film Certification (CBFC) has denied having imposed a ban on the movie, saying that it is unfortunate that the unwarranted pressure is being put by spreading misinformation of a ban.

The board said that any news of CBFC banning the film is completely false and all responsible people should take account. However, the film has been stuck with the CBFC for over six months and has been offered an ‘A’ certificate and Its makers have challenged the board’s decision and demanded a ‘U/A’ certification, according to media reports.

“Really hope the CBFC would #lifttheban. It’s a film about empathy & compassion let’s give love a chance, Alia said on Twitter”. However, the media reports claimed that the CBFC has given an ‘A’ certificate to “No Fathers in Kashmir” and the makers think it is a completely inappropriate decision. The makers have challenged censor board’s decision and appealed to a higher authority, the Film Certification Appellate Tribunal (FCAT), to look into the matter, according to the reports.

Regional Officer CBFC Mumbai Tushar Karmarkar said that we are disappointed with the misinformation being spread about the film ‘No fathers in Kashmir’. Any news of CBFC banning this film is completely false and all responsible people should take account of that. We want to again clarify that filmmakers of ‘No fathers in Kashmir’ have already been offered an adult certificate and the reasons there of have clearly been communicated to them. He further added that it’s unfortunate that the unwarranted pressure is being put by spreading misinformation of a ban’. CBFC will continue to do its work in a fair and transparent manner without succumbing to misguided pressure tactics.

Reportedly, fresh cuts were again demanded in the film and Kumar has been running between the CBFC and the FCAT to get a ‘U/A’ certificate for his film as he thinks that his film deserves a wider audience.

No alliance with Cong, AAP to contest all seats in Delhi, Punjab and Haryana

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January 18, 2019

The AAP on Friday said that it will not go for an alliance with the Congress in the upcoming Lok Sabha polls, accusing the Grand Old Party of being “arrogant”, and added that it will field candidates on all the parliamentary constituencies of Delhi, Punjab and Haryana.

Senior AAP leader and the party’s Delhi unit convener Gopal Rai said the decision came in the wake of the recent statements of Punjab Chief Minister Amarinder Singh and Delhi Congress chief Sheila Dikshit, opposing an alliance with the Aam Aadmi Party (AAP).

“In the interest of the country, we were ready to drink the poison of the Congress, but the statements show that the Congress is still seeped in its arrogance. The AAP will contest all the Lok Sabha seats in the three states on its own,” Rai said.

He added that the names of the candidates for the Lok Sabha polls will soon be announced by the party.

Reliance with new plans, to invest Rs 3 lakh cr in Gujarat in next 10 years: Ambani

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January 18, 2019

India’s richest person Mukesh Ambani on Friday committed to invest Rs 3 lakh crore in various projects in the next 10 years in Gujarat that may range from energy and petrochemical to new technology and digital business.

Ambani’s Reliance Industries operates the world’s largest oil refining complex at Jamnagar in Gujarat as well as petrochemical units at multiple locations in the state.

“Gujarat is Reliance’s Janmabhoomi (birthplace) as well as its Karmabhoomi (workplace). Gujarat has always been – and will always remain – our first choice,” he said at the 9th Vibrant Gujarat Global Summit here.

Reliance Industries has also invested billions of dollars in the roll out of telecom venture, Jio.

“We have so far invested nearly Rs 3 lakh crores in the state of Gujarat. And created and catalyzed over one million livelihood opportunities in Gujarat. In comparison to the past decades, Reliance will double this investment and employment numbers over the next ten years,” he said.

Ambani said, while Jio’s network is now fully 5G ready, the telecom arm and the retail division will launch a new commerce platform to connect small retailers and shopkeepers with customers.

The twin oil refineries at Jamnagar will produce more value-added products like petrochemicals and less of fuel as the world moves towards electric vehicles.

He, however, did not say when Jio, that started operations in 2016, will launch 5G services.

“Today, Gujarat is the showcase for Jio’s 4G wireless broadband network… And Jio’s network is fully 5G ready; which means Gujarat will continue to remain on the forefront of digital connectivity for years to come,” he noted.

Without giving timelines, he said Jio and Reliance Retail, which has over 9,000 stores across the country, will launch “a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat which are part of over 3 crore community in India.”

Ambani had previously spoken of leveraging the Jio network for launching some sort of e-commerce venture.

“As the world moves towards electrical vehicles, Reliance will use hydrocarbons less for fuel and more for producing high-value new materials with a wide range of uses in society,” he said adding the oil to chemicals strategy will greatly boost exports and create employment.

Also, Reliance Foundation will invest Rs 150 crore to make Pandit Deendayal University in Gujarat even stronger and an institution of international repute, he said.

Rafale deal: Prithviraj Chavan attacks Centre’s ‘urgency’ defence

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January 18, 2019

Senior Congress leader Prithviraj Chavan on Friday termed the Centre’s “urgency” argument regarding the purchase of 36 Rafale fighter jets, instead of an earlier agreed number of 126, as “ludicrous”.

He also questioned the Narendra Modi government on why the entire order of 126 fighter aircraft was not given to Dassault (manufacturers of the Rafale jet) itself.

“According to Defence Minister Nirmala Sitharaman, the first Rafale will come to India only by the end of 2019, or four years and eight monnths after PM Modi’s announcement in Paris on April 10, 2015. Egypt got its first batch of Rafales delivered in six months. Why not India,” Chavan asked in a tweet.

Posting the time line of the Egypt-France Rafale deal, Chavan said the deal was signed in Cairo for 24 Rafale jets on February 16, 2015.

The first batch of three Rafales was delivered on July 21, 2015, the second batch of three jets came in January 2016, another three in the 3rd batch came on April 4, 2017, fourth batch of two jets was delivered on July 27, 2017 while another three came in the 5th batch on November 28, 2017, he tweeted.

Chavan, a former MoS in the PMO and former Maharashtra chief minister, asked if the Indian Air Force needed 126 aircraft, why was the number reduced to 36.

“Did the then IAF chief object? If according to Arun Jaitley, the cost of one jet was nine per cent less, why wasn’t the entire order of 126 jets given to Dassault alone,” Chavan asked.

Describing the defence minister’s statement about “urgency” as ludicrous, Chavan said even after four years and eight months, India is yet to get the first delivery of Rafale jet.

He said Egypt, which signed the deal in February 2015, has already got 14 of its 24 Rafale jet deal over two years.

‘The Kominsky Method’ season two to start soon: Netflix

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January 18, 2019

Netflix has renewed its Golden Globe-winning series “The Kominsky Method” for season two. The announcement was made by Netflix’s dedicated news handle See what’s Next on Twitter.

@goldenglobes winning comedy #TheKominskyMethod has been renewed for Season 2! read the tweet.

The show, featuring veteran actors Michael Douglas and Alan Arkin in the lead, follows two friends tackling life’s inevitable curveballs as they navigate their later years in Los Angeles, a city that values youth and beauty. The season two will also mark the return of Sarah Baker and Nancy Travis.

“The Kominsky Method” has been created by Chuck Lorre, the man behind several popular sitcoms such as “Roseanne”, “Two and a Half Men” and “The Big Bang Theory, among others.

At the recently concluded Golden Globe Awards, the show won the Best Television Series Musical or Comedy, while Douglas took home the trophy for Best Actor in a Television Series Musical or Comedy.

Production on season two is expected to start soon.

A whistleblower alleges Sun Pharma for various irregularities

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January 18, 2019

(COMPANY)

Shares of Sun Pharma came under massive selling on Friday, tumbling over 13 per cent, amid reports of fresh allegations by a whistleblower against the company. The scrip after a weak opening further tumbled 12.11 per cent to hit a multi-year low of Rs 375.40 on BSE. At NSE, shares of the company plummeted 13.21 per cent to hit a low of Rs 370.20.

The stock was the worst hit among the blue chips on both the key indices during the morning trading session. In terms of equity volume, 38.20 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day.

According to reports, the complaint, sent to the capital market regulator SEBI, is the second in over a month. Meanwhile, the BSE has sought clarification from Sun Pharmaceutical Industries on January 18, 2019, with reference to news that Sun Pharma plummets over buzz of fresh whistleblower complaint.

A whistleblower had in November last year approached Sebi with a document alleging various irregularities by the company, its promoter and others.

SBSP threatens to break alliance from the BJP in 2019 general election

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January 18, 2019

Suheldev Bharatiya Samaj Party leader Om Prakash Rajbhar, a BJP ally and Uttar Pradesh minister, has threatened to go it alone in the 2019 Lok Sabha elections if the party’s demand for earmarking a part of the 27-per cent OBC quota for most backward castes is not met.

Speaking to reporters here on Friday, Rajbhar said that, as of now we are in the NDA (National Democratic Alliance), but the BJP has to decide whether we will remain with them or not. If the BJP does not give shape to our demand by February 24, we will take a decision on the tie-up during a party programme in Varanasi and announce the decision on contesting on all the 80 Lok Sabha seats in Uttar Pradesh the next day.

The SBSP, which enjoys considerable support among the Rajbhar community, is part of the BJP-led coalition government in Uttar Pradesh. The party has been demanding that a part of the Other Backward Castes (OBC) quota in government jobs and higher educational institutions be earmarked for most backward castes and maha dalits so that they can avail its benefits more. According to the party, benefits under the reservation policy are at present largely cornered by the relatively upper castes.

The BJP promised that there would be a split in the 27-per cent quota for OBC and that it would be implemented six months before the polls. Now barely 100 days are left for the polls, we have given an ultimatum to the BJP that if the announcement is not made in the next 100 days through a cabinet decision then we will part ways and contest Lok Sabha elections on our own, he said.