August 24, 2019

Page 1

Nagaland Post www.nagalandpost.com

Vol XXIX No. 258

DIMAPUR, SATURDAY, AUGUST 24, 2019 Pages 12 ` 5.00

Pak remains in FATF terror ‘blacklist’

Sindhu, Praneeth reach World C'ships semi-finals

Priti Patel to discuss Channel migrants with France

national, Page 5

sports, Page 12

international, Page 9

FM announces new measures to boost economy MEASURES to REVIVE economic growth

Home, auto, other retail loans to become cheaper NEW DELHI, AUG 23 (PTI): The government on Friday announced a raft of measures, including rollback of super-rich tax on foreign and domestic equity investors, exemption of startups from 'angel tax', a package to address distress in the auto sector and upfront infusion of Rs 70,000 crore to public sector banks, in efforts to boost economic growth from a five-year low. To bolster consumption, the government also said that banks have decided to cut interest rates, a move that would lead to lower EMIs for home, auto and other loans. Finance Minister Nirmala Sitharaman promised to continue the reforms and announce more measures next week. While the applicability of higher income tax surcharge on those earning more than Rs 2 crore a year has been withdrawn for foreign and domestic equity market investors, demand

Governor greets

D I M A P U R , AU G 2 3 (NPN): Governor of Nagaland, RN Ravi, has conveyed greetings to the people of Nagaland on the occasion of Janmashtami. In his message, Ravi called upon all to strive and build a society free from malice and full of brotherhood and compassion. Governor prayed that the occasion of Janmashtami bring “amity, harmony, prosperity and happiness in our lives.”

Road restriction

D I M A P U R , AU G 2 3 (NPN): Dimapur district administration has informed that total restriction of all traffic movement from Chathe River Bridge (Patkai Bridge) to New Chumoukedima (Pakala Pahar Bridge) from 10:30pm to 5am has been extended with effect from August 25, 2019 to September 24, 2019. In a circular, deputy commissioner (DC) Dimapur Kevekha Kevin Zehol also informed that in addition to the above restriction, all traffic movement would also be restricted from 3-3:30pm and also 4:30- 5pm to facilitate the use of explosive. Alternative route from Dimapur -Kohima/Kohima -Dimapur for light vehicles is available via 7th Mile- New DC office - Shokhuvi - Razaphe-Mhaikam - Pimla - Mhainamtsi - Jhornapani/Medziphema and vice versa.

This is it!

"No. Our state has not issue with central policies. Our only issue is fund and projects." K Y M C

 Drops super-rich surcharge problems of startups on FPIs, domestic investors on  BS-IV vehicles purchased till

Finance Minister Nirmala Sitharaman with finance secretary Rajiv Kumar during a press conference in New Delhi, Friday. (PTI)

for auto sector was sought to be raised by slew of measures. The steps include a plan to encourage scrapping of old vehicles and removal of ban on government departments in buying new petrol/ diesel vehicles. In a bid to give fillip to job-creating Micro, Small and Medium Enterprises (MSME), Sitharaman said pending GST refunds would be done within 30 days, while startups - a major avenue for employment and new entrepreneurship - would be exempt from socalled 'angel tax'. She also announced an immediate infusion of Rs 70,000 crore into banks to boost their liquidity and lending capacity of banks by Rs 5 lakh crore while housing finance companies

would get up to Rs 30,000 crore with a view to revive the real estate sector. Sitharaman said banks would be required to link lending rates to the RBI's benchmark rate in order to accelerate the transmission of the central bank's policy easing. Till now, banks generally lagged in transmitting RBI's reduction in repo rates to borrowers. So far this year, RBI has cut interest rates by 110 basis points in four installments but banks have passed only a part of it to borrowers. Before the last reduction, earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019. Giving relief to start-

gains from stock market  Upfront release of Rs 70,000 cr to PSBs; enhances lending capacity by Rs 5 lakh cr  Banks to pass on rate cuts; to benefit all borrowers  Reduction on EMIs for housing loans, vehicle and other retail loans  To provide protection to honest decision-making by bankers for boosting lending  Additional liquidity support to HFCs raised to Rs 30,000 cr  Pending GST refunds to MSMEs to be paid within 30 days  Amendment to MSME Act to move towards single definition to be considered  Issue of IT orders, notices, etc through a centralised system to cut harassment  Startups registered with DPIIT exempt from Income Tax, subject to certain conditions  To set up a dedicated cell under CBDT for addressing the

March 31, 2020 to be operational for registration period  Allows additional 15 pc depreciation on all vehicles till March 31, 2020  Delayed payments from Govt/ CPSEs to be monitored by Expenditure Dept  CSR violation not to be treated as criminal offence  To set up an entity for credit enhancement for infrastructure, housing projects  Task force to be set up to finalise the pipeline of infrastructure projects  Further action on development of Credit Default Swap markets soon  Simplification of KYC procedure to improve market access for foreign investors  To announce more measures in the coming weeks for other sectors  Announcement with regard to real estate sector to be made next week.

ups, Sitharaman said angel tax provisions would not be applicable on them and their investors. For the auto sector, she doubled depreciation to 30 per cent and lifted the ban

on government departments to buy new vehicles. BS-IV vehicles purchased till March 31, 2020, before the country switches to lower-emitting BS-VI vehicles, would continue to be

Naga CSOs of Myanmar urge Nagas to remain vigilant, united DIMAPUR, AUG 23 (NPN): Naga civil society organisations (CSOs) from Myanmar – Council of Naga Affairs (CNA) and Naga Students’ and Youth Federation (NSYF) – have urged Nagas from all walks of life to remain vigilant and united so that they did not fall into the hands of those trying to “rob” their rights and dignity. A joint press statement by acting CNA president Naw Aung Sann and NSYF president Solomon Theibung urged Naga leaders on all fronts to be more watchful at this decisive moment so that “we will not repeat the same mistake which have left us divided and confused”, while extending their sincere appreciation and acknowledgement for the contributions of the past and present leaders. The two organisations expressed support and solidarity towards Naga Hoho that, according to them, had been playing an

important role in connecting Naga peoples across the “imposed borders and regions” regardless of foreign powers that deny Nagas as a people to live together under one roof. They also appreciated Naga Hoho for having stood with the vision of “oneness” for Naga people and urged it to continue holding the torch of unity and a shared future of Nagas. CNA and NSYF further urged all Nagas in the west to give full support and stand with Naga Hoho by leaving aside all the differences so that the hoho, as the parental body of all Naga CSOs, was able to further the mission of common vision for all Nagas. As Naga people had paid too heavy a price for disunity and division amongst themselves, both the organisations prayed and encouraged every single Naga regardless of background to walk on the path of the common goal all Nagas longed to experience again.

LOU NH-29 threaten to move court against govt DIMAPUR, AUG 23 (NPN): Land Owner Union (LOU) NH-29 (Purana Bazaar to Chumoukedima) has issued a “final notice” to all concerned that it would file a case in the court of law against the government’s “apathetic behaviour” towards the land compensation issue pertaining to NH-29 road widening from Purana BazaarChumoukedima. In a notice, LOU, NH-29 information & publicity secretary Kewetso Kenye pointed out that the Gauhati High Court, Kohima Bench had passed judgement in favour of the union through its Order No. W.P(C) No.98 (K) 2000. passed on dated 25/09/2000. Subsequently, the union said it had had approached the government on three occasions. However, LOU NH-29 said the government defiance to the call was “unfortunate”. And as such, the union said it was constrained to issue the final notice that it would file a case in the court after one week from the date of publication of this notice. Therefore, the union has urged the public to understand its s stand and not construe it otherwise.

operational valid for till their registration period. "Reforms is a continuous process and the momentum of reforms will continue," Sitharaman said. The Finance Minister also assured the industry that tax authorities will not "overreach" in line with Prime Minister Narendra Modi's message of respecting wealth creators. Income tax notices and orders would be only issued through a centralised system to curb harassment. Also, violation of Corporate Social Responsibility (CSR) obligations would not be treated as a criminal offence and only as a civil liability, the minister said. Industry players had raised concerns about penal provisions in the Companies Act, 2013 for non-compliance with CSR requirements. Other measures announced to boost the economy include setting up of an entity for credit enhancement for infrastructure and housing projects, a task force to finalise the pipeline of infrastructure projects and simplification of Know Your Client (KYC) procedure to improve market access for foreign investors.

KOHIMA, AUG 23 (NPN): Altogether 291 employees of District Rural Development Agency (DRDA) in 11 districts of the State began their pen-down strike from Friday, in protest against non-release of their salary. Their stir would continue till August 30. A DRDA project director claimed that agency’s employees in all the districts were taking part in the phase-2 of their agitation. He said the stir would affect official works, which would have a bearing on 1,200 villages across the State. DRDA is the nerve centre for rural development department. “If DRDA’s functioning gets affected, it will lead to the block offices becoming immobile. The functioning of the rural department directorate too will be affected if

DRDA offices stop functioning,” the PD explained. As DRDA staff had to adhere to timelines and worked for various schemes in a time-bound manner, he said the pen-down strike would largely effect submission of reports. He added that if these reports were left unattended, they would jeopardise many rural development programmes, especially the Centrally-sponsored schemes (CSS). It may be mentioned here that DRDA employees of Wokha district have not received their salary for the past 12 months, Kohima for 11 months, Dimapur, Mokokchung, Phek and Tuensang districts for six months, Kiphire, Longleng and Mon districts for five months and Peren and Zunheboto for three months. The striking employees have informed this correspondent that after the expiry of

their pen-down strike on August 30 and if their demand was not met by then, they would go for mass casual leave from September 2 to 6, and complete shutdown from September 7 onwards. Meanwhile, rural development commissioner & secretary Bendangkokba told Nagaland Post that the department had discussed the matter with finance department and that files had been sent to chief minister’s office. But, he added as the chief minister was out of station, the salary would be release only after he returned and the files were cleared. Mentioning that this was the only means to clear the salary, he explained that unless the department got assistance from the State government, it was not possible to clear the salary directly from the fund received from the Central government. However, Bendangkokba

NEW DELHI, AUG 23 (PTI): The Supreme Court Friday granted protection from arrest till August 26 to former Union finance minister P Chidambaram in a money laundering case lodged by ED in connection with INX media scam, for which he is already facing custodial interrogation by CBI in a related case of corruption. The relief granted by the top court in the case of Enforcement Directorate (ED) will have little effect as Chidambaram has been remanded in CBI's custody till Monday by a trial court in the graft case. However, the Friday order came as a setback to the ED as the apex court refused to accept its arguments opposing Chidambaram's submission that he was entitled for protection from arrest, granted by the Delhi High Court on July 25, 2018, in the money laundering case. A bench comprising justices R Banumathi and A S Bopanna said it will hear on August 26 the pleas filed by Chidambaram in which he has challenged the August 20 order of the

Delhi High Court rejecting his anticipatory bail pleas in ED and CBI cases. The bench said it would also hear a fresh plea filed by Chidambaram, challenging Thursday's order of remand passed by trial Court by which he was sent to the CBI custody till August 26. "In our view, having regard to the fact that the petitioner was also granted interim protection on July 25 and that the co-accused were also granted bail by the High Court, the petitioner is granted interim protection, insofar as the Enforcement Directorate case is concerned...till the next date of hearing. List the matter on August 26," the bench said. It also sought reply of ED on Chidambaram's plea by Monday itself. As soon as the order was dictated, Solicitor General Tushar Mehta, appearing for ED, tried to hand over some documents in sealed cover to the court. However, the bench refused to peruse the documents at this stage and asked Mehta to submit them on Monday.

‘Unprecedented situation for govt in 70 yrs’: NITI Aayog sounds alarm on eco slowdown N E W D E L H I , AU G 2 3 (AGENCIES): Niti Aayog vice chairman Rajiv Kumar has described the current economic slowdown as an “unprecedented situation that India has not faced in last 70 years”. His comments have come at a time when the country’s economy is facing the worst pace of growth in nearly five years. “From last 70 years, government of India has not faced this sort of liquidity situation where entire financial sector is in churn and nobody is trusting anybody else,” news agency ANI quoted Kumar as saying on Thursday. He further said that the government is considering a number of measures which will be taken at an appropriate time to deal with financial stress and unleash animal spirit in the economy. Both the government and the RBI have taken a series of measures to deal with stress in the financial sector triggered by default in the group companies of IL&FS.

Pen-down strike by DRDAs, 1200 villages to be affected Correspondent

SC grants interim protection to Chidambaram in ED case

could not give a timeline by when the ending salary would be paid as he said it depended on the chief minister agreeing to release the pending salary. It was up to the chief minister to decide, he added. Wokha Correspondent adds: Interacting with Nagaland Post here at her office chambers, DRDA Wokha project director Thungdeno Mozhui said DRDA employees across the state had been compelled to go for such a move as their demands submitted in their representation to the government of Nagaland remains unfulfilled till date. Mozhui also informed that it has been the longpending desire and demand of DRDA employees that their pay and allowances be included under the state’s non-plan as the present system is based on the 90:10 ratio to be shared between the Centre and the state.

In a bid to improve liquidity, Kumar said the central bank has taken various steps in the past few months as a result of which the cash position in the system has stabilised. He further said public sector banks have provided liquidity to non-banking finance companies (NBFCs). He said the RBI has reduced repo rate four consecutive times this year and also directed the banks to pass rate cut benefits to borrowers. Kumar further said that the government has taken a series of measures to improve the financial health of the NBFC sector. The government permitted public sector banks to purchase high-rated pooled assets of financially sound NBFCs. For this, the government provided one-time six months’ partial credit guarantee to PSBs for first loss of up to 10%. Earlier this month, the Centre issued guidelines on operationalising Rs 1lakh crore partial guarantee scheme under which publicsector banks can purchase high-

rated pooled assets of financially sound non-banking finance companies (NBFCs). The partial guarantee would help rework the Asset Liability structure within three months to have positive Asset Liability Management in each bucket for the first three months and on cumulative basis for the remaining period. As per the guidelines issued, the window for one-time partial credit guarantee will be for a period of six months, or till such date by which Rs 1 lakh crore assets get purchased by banks. Assets originated up to March 31, 2019 will only be eligible under this scheme, it said, adding assets should be standard in the books of NBFCs/HFCs on the date of sale. Among others the government also allow NBFCs to raise funds in public issues, and the requirement of creating a debenture redemption reserve (DRR), which is currently applicable for only public issues as private placements are exempt, will be done away with.

Noose tightening around corrupt: Modi PARIS, AUG 23 (AGENCIES): Prime Minister Narendra Modi on Friday said the big mandate for the BJP in the 2019 Lok Sabha elections was for building a “new India”, and asserted that corruption, nepotism, loot of people’s money, and terrorism have been reined in like never before. Addressing the Indian com- Narendra Modi munity at the Unesco headquarters in Paris, Modi talked about “major decisions” such as banning the practice of triple talaq, taken by his government in its second term. In an indirect reference to the scrapping of Article 370 in J&K, Modi said: “There is no scope for temporary in India. You would have seen that a country of 1.25 billion people, the land of Mahatma Gandhi, Gautam Buddha, Ram, Krishna, took 70 years to remove what was temporary. To remove temporary it took 70 years, I don’t know whether I should laugh or cry... Reform, perform, and transform and with permanent systems, the country is moving forward to achieve its goal.” Modi, who was in France on the first leg of his three-nation tour, said there have been a number of constructive changes in the last five years. “India is racing ahead not because of Modi... it is because of the stamp of approval that the people of India have given in the form of their votes,” Modi said.

4 from Manipur, Nagaland held with drugs in Kolkata KOLKATA, AUG 23 (PTI): Two persons each from Nagaland and Manipur were detained by Kolkata Police on Friday, after huge quantity of banned drugs were seized from their possession in the city's Maidan area. Acting on a tip-off, Kolkata Police intercepted a vehicle carrying them near Syed Baba Mazar ground under Maidan Police Station limits, and recovered 23.30 kg of party drug 'Yaba', a senior officer said. "There were nearly two lakhs pieces of 'Yaba' tablets inside the body panel of the vehicle and their luggage. The approximate value of these drugs in the local market is around Rs 80 lakh," he said. Police are interrogating the four for more details, he added. K Y M C


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