Bihar tipplers pay fines, spend nights in Nepal lockups
Tipplers from Bihar have been crossing into adjoining Nepal in thousands for their daily liquor quota ever since the Indian state went dry on April 1. However, scores end up spending the night in Nepal Police lockups and pay hefty fines.
 
Police in Rautahat district of Nepal said at least 70 Indian nationals have been fined Rs.1,000 each for drinking in dozens of shacks that have mushroomed in Nepal territory along Bihar's border with the Himalayan nation.
 
These makeshift but illegal huts were set up specially to cater to the needs of the Bacchus-worshipers from India.
 
"In the last week, we have fined 70 Indians who came here to consume liquor," said Ganesh Regmi, the superintendent of police in Rautahat.
 
These Indian nationals were also kept in custody for a night and let off the following day, the SP said.
 
On Saturday, police rounded up nine Indians, kept them in custody for a night and set them free only after getting written undertakings that they will not show up again in Nepal territory to consume alcohol, Regmi added.
 
Nepal Police have began taking action against the makeshift shops due to apprehensions of a surge in crime due to short visits by tipplers from India to satisfy their liquor craving.
 
Police routinely raid liquor shops set up in hutments after 6 p.m. everyday to look for boozing Indians.
 
Police on the Indian side too have sought coordination with their Nepali counterparts and local authorities to keep a tab on the influx of Indian nationals into the Himalayan nation since it could impact crime on the open India-Nepal border.
 
Since the international border between India and Nepal is open, free flow of people from either side is allowed after routine security checks.
 
Now, to avoid any brush with the Nepal Police, many Bacchus-worshipers from India visit nearby Nepali towns, consume alcohol, spend a night there and return to their homes the next day.
 
After the liquor ban in Bihar, not only have new liquor shops sprung up in Nepal areas along the border but also many enterprising Indians have set up small restaurants in Nepal border towns to specially target Indian tipplers.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Two Years of Modi Sarkar: a Mixed Bag
Earlier this month, the National Democratic Alliance (NDA) marked the completion of two years in office, with the same planning and precision that it approaches its election campaigns. Specific ministers were dispatched to different cities to participate in discussions on the government’s achievements. Those heading important ministries, such as power, roads, railways and finance, have spewed details of their achievements on social media and were generous with interviews to Indian and foreign media. That the second anniversary coincided with elections in four important states probably meant that the publicity was an indirect campaign tool as well, and given the results, it seems like a smart move too. 
 
I was invited to one such panel discussion on the Modi government’s performance. The questions from the audience and its reactions to the designated minister’s replies made one thing very clear—most people are happy to lap up the hype and the claims, whether or not there is any impact on their own lives even in terms of lower food inflation which is understood by all. 
 
Of course, there are plenty of positives that the NDA can justifiably tout.  GDP growth is strong; foreign direct investment is high; and overall inflation is under control. Prime minister Narendra Modi’s personal popularity remains higher than that of any other politician today, even though it may have waned a bit under the burden of massive public expectations of high-speed reform and rapid change. There have been no major corruption scandals in the past two years, although corruption issues are just as bad when it comes to dealing with lower rung officials in most government departments. Many of the problems that the government is grappling with, such as the bad loans of banks ballooning to a massive Rs8 lakh crore, are a legacy of the past and cannot be laid at the NDA’s door. However, the bigger worry is that the government has failed to take advantage of the low oil prices that have shown a steady uptrend in recent weeks. Let’s look at some hits and misses of the past two years.
 
Among the earliest successes claimed by the government are the Pradhan Mantri Jan Dhan Yojana (PMJDY) and the two insurance schemes. Going by the government’s figures, it is, indeed, a stupendous success with 218.1 million accounts opened and Rs37,616 crore in deposits. The Jandhan accounts come with a Rupay debit card which has a built-in accident insurance of Rs100,000. The government reports that 94.3 million Suraksha Bima Policies and 29.6 million Jeevan Jyoti policies have been sold since the launch of the schemes. 
 
The key to any insurance is the number of claims settled. Here, too, the record is very good, so far, albeit with very low claims. Under the Rs30,000 life cover offered under PMJDY, 2,799 claims were received and 2,425 were settled (with 360 invalid claims), until 13th May this year. The Rupay card has also received 1,080 claims of which 735 were paid, 261 rejected and 84 are under process. The real question here is: How many PMJDY accounts are examples of true inclusion through first-time accounts and how many have used easy KYC norms to park funds in second accounts? 
 
On the flip side, the same public sector banks (PSBs) that have been forced to lead the financial inclusion effort are also leaders when it comes to massive bad loans estimated at a stupendous Rs8 lakh crore rupees. While the Reserve Bank of India’s (RBI’s) loan recognition norms have exposed the extent of behest lending, crony capitalism or lax project appraisal in PSBs, the government seems to have no clear idea of how to set things right. Is the Bank Board Bureau going to provide answers? What we know is that two Gyan Sangams have not shown the way.
 
There is no change in slow and confused appointment policies, or any attempt to provide more autonomy to senior management along with increased accountability. Meanwhile, protests by trade unions are likely to escalate, since most employees are clueless about what the government has in store for them. The unions squarely blame bad loans on cronyism and political interference and have some justifiable concerns about their future, since the government has yet to articulate its plan or policy with regard to bank mergers, new bank licensing or privatisation. All of this is already overdue. 
 
There is a general consensus that three infrastructure ministries are doing excellent work: power, railways and roads. Of these, the power ministry, under Piyush Goyal, has been on a fast track, in line with the prime minister’s announcement on 15 August 2015 that all un-electrified villages (18,452 villages have been identified) would be electrified within 1,000 days. According to a Reuters report, the PM is pushing for the target to be met before the Union Budget of 2017. In effect, the PM hopes that this will pay dividends in the crucial assembly elections for Uttar Pradesh. Like the PMJDY, there is a dashboard that is constantly updating progress at http://garv.gov.in/dashboard with details of the officials who can be contacted for work to be done. 
Without going into details about road, rail and infrastructure projects, one can only say that grand announcements and project outlays running into thousands of crores of rupees must only be evaluated in terms of actual implementation, because many key projects are stuck for over 50 years and mired in controversy. 
 
A big damp squib of the NDA is the Black Money Bill that has only ended up giving draconian powers to the income-tax (I-T) department. This has been partly offset by reworking the double taxation treaty with Mauritius with plans to extend this to other tax havens, to plug treaty shopping designed to avoid taxes. The long over due Insolvency and Bankruptcy Bills touted as another big achievement of the NDA. However, as Debashis Basu wrote in Business Standard, the plans for a large regulator like SEBI (Securities & Exchange Board of India) and cadre of certified insolvency professionals could turn it into another unwieldy bureaucracy that defeats the intent of the legislation itself. 
 
The past two years have been about huge schemes with catchy names, launched at mega events in a blitz of publicity. Some have worked, others have flopped and the jury is still out on a few. These include Skill India, Start Up India, Make in India, Digital India, Mudra and Swachh Bharat and improving the ease of doing business. There is apparently a lot happening with all these initiatives, but we have still to see tangible results in terms of higher employment numbers and greater investment. Indeed, we need to worry about the inevitable slowdown in e-commerce and logistics, which has been a big employer of unskilled youth, who have led the consumption of mobile phones, motorcycles and other consumer goods, usually purchased on equated-monthly-instalments. We see no concern, as yet, on the implications of this slowdown.
 
A granular assessment of every ministry of the Modi government shows that it has done a lot more than any previous government; but much of the good work is marred by three problems. First, there is excessive hype, slogans and announcements. Without an engagement with key stakeholders, or a clear plan and vision, such hype raises questions about the targets claimed to be have been achieved. Second, reliance on the same bureaucracy to deliver different results seems to be tripping up the government too often. This is evident in the handling of tax issues, whether at the corporate level (Vodafone) or individuals. Thirdly, the slogan of “minimum government, maximum governance” which gladdened our hearts in the run up to May 2014, still seems a distant dream. 

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COMMENTS

Y.Markandeya

12 months ago

Taken for Granted!!!!!!!!
Loans by thousands of no, lakhs of crores taken by the august NPAs are written off generously by the dynamic governor of the RBI. How did the banks get so much money? Of course it is from the wretches the fixed depositors. If those wretches stop depositing, the generosity, no, the economy will come to an end. But there is no need to worry. Can anyone expect the milch cow to refuse to give milk? One can happily milk it and also kick it.
The rate of interest on the fixed deposits can be reduced, without any fear of the wretches. That interest which is less than the rate of inflation can be added to the taxable income, bloating it and thus over taxing the other incomes like salaries, pensions etc.Inflation not only means the reduction in the value of money, it automatically reduces the capital value if the fixed deposit also. In fact thanks to the sky rocketing of the price of land, relationally the capital value of the fixed deposits is becoming nil. The fixed deposits make the banks function and as a result allow the economy to live.
Now the income tax department has given an advertisement, giving opportunity to the tax evaders to disclose their real income and also pay a penalty of 45 per cent of the evaded tax. Very good indeed. But will it not be fair to also calculate the income tax already paid all these years on the fake income, called the interest on fixed deposits and refund it to the fixed depositors? The excess tax paid as a result of including the fake income to the taxable income, is also entitled to an increase of 45 per cent.
The NPAs are walking free without paying lakhs of crores to the banks. But those responsible for the survival of the banks are not getting anything. In fact the gross injustice of including the fake income into the taxable income is to be continued!!!!!!
Let us organize bhajan and Pooja to save the fixed depositors, the meekest among the meekest. I think the so called evaded tax includes the tax evaded on the fake income also. After all what can the cows do when you happily kick them?
YM
Taken for Granted!!!!!!!!
Loans by thousands of no, lakhs of crores taken by the august NPAs are written off generously by the dynamic governor of the RBI. How did the banks get so much money? Of course it is from the wretches the fixed depositors. If those wretches stop depositing, the generosity, no, the economy will come to an end. But there is no need to worry. Can anyone expect the milch cow to refuse to give milk? One can happily milk it and also kick it.
The rate of interest on the fixed deposits can be reduced, without any fear of the wretches. That interest which is less than the rate of inflation can be added to the taxable income, bloating it and thus over taxing the other incomes like salaries, pensions etc.Inflation not only means the reduction in the value of money, it automatically reduces the capital value if the fixed deposit also. In fact thanks to the sky rocketing of the price of land, relationally the capital value of the fixed deposits is becoming nil. The fixed deposits make the banks function and as a result allow the economy to live.
Now the income tax department has given an advertisement, giving opportunity to the tax evaders to disclose their real income and also pay a penalty of 45 per cent of the evaded tax. Very good indeed. But will it not be fair to also calculate the income tax already paid all these years on the fake income, called the interest on fixed deposits and refund it to the fixed depositors? The excess tax paid as a result of including the fake income to the taxable income, is also entitled to an increase of 45 per cent.
The NPAs are walking free without paying lakhs of crores to the banks. But those responsible for the survival of the banks are not getting anything. In fact the gross injustice of including the fake income into the taxable income is to be continued!!!!!!
Let us organize bhajan and Pooja to save the fixed depositors, the meekest among the meekest. I think the so called evaded tax includes the tax evaded on the fake income also. After all what can the cows do when you happily kick them?
YM

PRAVIN PATEL

12 months ago

I do not agree with Sri Pravin Gandhi that this government has been the first to invite public comments on policy. Trade and industries associations have been invited in the past too who are known lobbyist.
I would like to talk about pathetic justice delivery system that is moving at a snail speed in our country. Despite BJP made tall promises to do judicial reforms for a time bound faster justice delivery system, they have not done anything in last two years. At a conference held in New Delhi in April, 2016, inaugurated by Modi, Chief Justice TS. Thakur took on the government over the failure to come up with judicial reforms and made an emotive appeal to the government to have more judges to ensure justice for all. Sadanand Gowda, Union minister for law and justice has no time to engage in talk with the concerned citizens and ngos working in this field.

I would also like to share concerns expressed by eminent lawyer Sri Ram Jethmalani who in a recent interviews with India Legal, an independent legal news magazine has stated The Government Doesnt Want To Spend Money On The Judiciary. Discussion is on need of fund for creating additional infrastructure while in quick reaction, Minister of Law and Justice, Sadananda Gowda responded via Tweet: We don't agree. Close to Rs. 2000 cr per annum is spent on Judiciary by Centre and State Governments. Remember, while the discussion is on need of infrastructure fund, Minister talks of recurring expenses that is spent to run the existing set up. Modi Govt. has all the money in the world for showering monetary concessions to the corporate but has not even 7000 crores required for putting the justice delivery system on track despite 3.71 crore cases pending in the courts of the country,
I conclude with what Ram Jethmalani in the said interview also stated I am ashamed that I helped Modi become the prime minister. I am ashamed that Modi made Amit Shah the BJP president. I am ashamed that I supported Modi during his election campaign. We have everything but we have neutralized everything with the wrong people being in power. We had great hopes on Modi. But he did not turn out to be a shining star as we thought. The BJP is as corrupt as the Congress.

Pravin Gandhi

12 months ago

"without engaement of key stakeholders". Actually this govt has been the first to invite public comments on policy through portal. Most recent is Manohar Parrikar's call for all industry associations to give inputs on defence manufacturing policy and given 10 days. Whats more, there is Progress Review and Measurement at highest level

REPLY

Sucheta Dalal

In Reply to Pravin Gandhi 12 months ago

We think there is a big difference between engaging with people and with industry associations. They are basically lobbying organisations and rarely every have the courage to tell the truth. Anyway, everyone is entitled to their views based on their perspective, access to information etc.

Pravin Gandhi

In Reply to Sucheta Dalal 12 months ago

Damned if you do and damned if you dont (involve industry)

ramchandran vishwanathan

12 months ago

The Government needs to publish what each ministry will do & then measure themselves against it . Eg: Railways must mention that they will reduce number of accidents say by 10%, the automation they will do to achieve the same. The achievements mentioned are very subjective in nature & have had no impact on the citizens . The Government must not loose focus & must engage with the opposition to make a difference in governance

Srinivas Sreeram

12 months ago

Modi govt lacks talented & skilled ministers. There is shortage of talent pool. BJP govt to source it from free lancing experts that are available in the market place. Remove the IAS & appoint technocrats in their place and support them to deliver. This point has been lacking in BJP.

REPLY

Pravin Gandhi

In Reply to Srinivas Sreeram 12 months ago

On the contrary, this govt has a high-performing team of Gadkari, Prabhu, Piyush, Sushma, Nirmala, RaviPrasad, Venkaiah, Jayant Sinha, D Pradhab, Ajit Doval. Arvind Sub, Panigrahi, Bibek Debroy

PRAVIN PATEL

In Reply to Srinivas Sreeram 12 months ago

I agree with Sriniwas Shreeram. I would like to add that presently quality of our political masters be it of any party has gone down to bottom including of Modi's party. Spineless bureaucrats dancing to the tunes of their political masters muffling away public money is a hard reality. A debate is also need of the hour that do we need IAS to be the boss of a district or have technocrats and management experts to run departments professionally free from political interference.

dev

1 year ago

good to read it. i beleive this new govt/set of people are making more noise than the action. the govt. back-stepped on almost every tough stance which it shouted when in opposition. Be it Blackmoney, its stand on Pakistan, independent CBI, election Funding and criminalisation of politics.

Veeresh Malik

1 year ago

Very fair assessment of the first two years of this Government by MoneyLife / Sucheta Dalal . . . the one point I would like to add here is the immense improvement in service delivery of the Public Grievance system (as opposed to the crumbling and clogged RTI system) for issues pertaining to the Union / Central Government and it's agencies / PSUs / similar.
(Almost nil progress on this Public Grievance system with State Governments, though, which is symptomatic of how we shall progress in India eventually - local issues will need local solutions.)

Anand Vaidya

1 year ago

You forgot to mention Swach Bharat Abhiyan - which I consider PM Modi's key contribution. Many people I meet are nowadays sensitized towards cleanliness, and we have some hope that India too can be a clean and green nation - thanks to the "hype" generated by our beloved PM. Did you notice the many volunteer efforts underway?
I am surprised you did not highlight the groundbreaking change Suresh Prabhu is implementing.
Another "hype" Make In India - Did you know that a large portion of mobile phone manufacturing has already shifted to India? A lot more is coming via defence etc? Hype indeed?

REPLY

Ankur Bhatnagar

In Reply to Anand Vaidya 12 months ago

Swachchh Bharat is mentioned in the article. It can only be put in the hype category. The basic mechanisms to implement it, like waste collection, waste management, pollution, etc. at the ground level remain the same with little change.

Jyoti Dua

1 year ago

A realistic and balanced analysis. Modi Govt have laid down the foundation of certain policies which need time show results. The focus on Make In India in Defense armament, Shipping, aviation industry will definitely go long way in improving economy and generating jobs. Swachh Bharat mission has a potential to create jobs in rural India. The work on Clean Ganga will start showing results soon. There will be many employment opportunities in that scheme.

Mahesh S Bhatt

1 year ago

With Brashta(corrupt) in Mind ( Maan) any number Gyan ( Knowledge ) Sangams shall not fructify thats old Vedic knowledge.Property land corruption continues.

For fructification there has to be truth.

Good Marketing gimmicks poor Media presentations/excellent manipulations makes look good eg BJP seats in 5 states =64 Congress = 115.

But only tom tomming Assam & garluous Arnab colours facts differently.

Modi as leader felt Land Bill shall pass assuming Governments are totally honest but truth was different.Grand Misreading.

Second GST poor floor management more foreign management sees Modi in arrogance light.

Third Maan ki Baat on TV & Twitter handles well used so that one sided doctored communications happen.After becoming PM how many TV interviews/Janta Chai Pe Charcha's have happened? ZERO.


Om Shanti Om Mahesh

PRAVIN PATEL

1 year ago

Two years are not enough to judge the overall performance but for a person who made tall promises which are not yet fulfilled raises serious doubts that in remaining three years those promises will be honoured.
Coal mines put on auction is due to the Supreme Court order despite Modi Govt tried in vain to take notification route.
Despite favourable oil prices, rupee instead of being stronger is more weak than before.
Tension on international borders has increased. Bringing Black money or even Lalit Modi remains ZUMLA.

Badly needed Judicial Reforms are not even in Man kind Baat nor any concrete steps are in sight. Few more issues also needs discussion.

PRAVIN PATEL

1 year ago

Two years are not enough to judge the overall performance but for a person who made tall promises which are not yet fulfilled raises serious doubts that in remaining three years those promises will be honoured.
Coal mines put on auction is due to the Supreme Court order despite Modi Govt tried in vain to take notification route.
Despite favourable oil prices, rupee instead of being stronger is more weak than before.
Tension on international borders has increased. Bringing Black money or even Lalit Modi remains ZUMLA.

Badly needed Judicial Reforms are not even in Man kind Baat nor any concrete steps are in sight. Few more issues also needs discussion.

hamed kazi

1 year ago

There are no bold reforms. Arun Jaitley is no Manmohan Singh or even Chidambaram . One can argue mnrega, rti and even gst were morepathbreaking.

hamed kazi

1 year ago

There are no bold reforms. Arun Jaitley is no Manmohan Singh or even Chidambaram . One can argue mnrega, rti and even gst were morepathbreaking.

hamed kazi

1 year ago

There are no bold reforms. Arun Jaitley is no Manmohan Singh or even Chidambaram . One can argue mnrega, rti and even gst were morepathbreaking.

MSSN conducts its 5th Investors Club Meeting with a presentation of screener.in
The 5th Investors Club event organised by Moneylife Smartsavers Network (MSSN) was conducted at the iconic Bombay Stock Exchange (BSE). The seminar, “How to use Screener.in to find great new stock ideas, analyse them & track them” was conducted by Ayush and Pratyush Mittal, the brains behind the website screener.in. Moneylife was among the first to introduce stock screens in India in 2006 in Moneylife magazine.
 
Moneylife has always believed that screeners are the very first and absolutely essential tools for stock picking. This is because finding a few stocks for detailed analysis from among thousands of listed stocks can be virtually impossible for retail investors who do not have access to paid databases. Fortunately, Mittal brothers have created screener.in, a web-based stock screening tool, which is available free to anyone. The brothers, who came to Mumbai all the way from the city of Lucknow, gave a brilliant presentation in how to use this powerful and essential tool. The brothers, who also helped launch the platform ValuePickr.com (a forum for value investors), enlightened the audience on how to create stock screens and track stocks based on such screens. 
 
 
Ashishkumar Chauhan, MD and CEO of BSE gave a brief introduction, highlighting the significance of investing. The seminar started with Debashis Basu, editor & publisher of Moneylife, explaining briefly why people could not rely on media, market experts and tips to pick stocks and there was a need of an objective method of stock-picking that scans all listed companies. 
 
Ayush and Pratyush Mittal explained how a free tool like Screener.in could be used by investors to shortlist stocks under financial and valuation parameters. They elaborated on how investors could use the website's customisation features to create their own unique screens for stocks. Ayush Mittal said, 'We have created 300 odd variables and allowed the user to create their own variables.' Chartered accountants by qualification and also full time investors, they shared their vast investing experience to an eager audience. They explained their ideas using real-life examples from well-known companies like Ajanta Pharma to little-known smaller companies like KG Denim. Ayush Mittal said that the pros and cons section, which has been created using an automated algorithm is an important feature of screener.in. Giving the importance of cons of a company, he remarked, 'If you reduce errors in the market while investing, you will do well.'
 
The event concluded with an interactive Q&A session where the brothers resolved doubts from the audience regarding how to use this powerful tool. They patiently answered questions regarding reading Annual Reports, identifying turnarounds, exiting companies, assessing management quality and identifying undervalued companies among other issues.
 

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COMMENTS

venkataramana pakam

9 months ago

Hi, Please share the recording of the video .

Sameer Wakude

12 months ago

Hi, Please share the recording of the video. Let me know what is the cost, I will transfer online, as done for previous video.

Prem

1 year ago

Pls share recording for a fee for people not in Mumbai.

Manish Avashia

1 year ago

Very Informative and felt nice hearing two young, bright and humble mind speak.

Ashish Saraf

1 year ago

Can I get the recording of the event?

Roy Aranha

1 year ago

excellent must get schools and colleges also aware and involved

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