Citizens' Issues
No breakthrough on GST in Modi-Congress meet, more talks soon
Prime Minister Narendra Modi on Friday met his predecessor Manmohan Singh and Congress president Sonia Gandhi to discuss the contentious Goods and Services Tax (GST) bill and though no breakthrough was achieved, they agreed to meet again to break the deadlock.
 
Meanwhile, Congress termed the meeting as constructive and hoped that the government would seriously reflect on their demands on GST.
 
Speaking to reporters after the meeting, Finance Minister Arun Jaitley, who had also been present, said: "The Congress party leaders put forth their position with regard to the three issues of the bill, which they felt are of concern to them. The history and background of the legislation and the government's response to three issues in detail was explained to them."
 
"The Congress party leaders would be discussing it within their own party and there would be after sometime a fresh contact between the government and them to discuss the subject further," he added.
 
Jaitley said the government has also considered the position the opposition has taken.
 
The prime minister had invited the Congress leaders to discuss issues pending before parliament, particularly a large amount of legislative business that has accumulated over the last two sessions.
 
"Parliamentary Affairs Minister M. Venkaiah Naidu will be in touch with the leaders of Congress party in both the houses of parliament to discuss each one of the specific legislations so that work could proceed in parliament next week," Jaitley said.
 
Apart from Jaitley, Naidu was also present during the meeting.
 
The Congress said that it has been a constructive engagement and it will be a work in progress.
 
"It has been agreed that we as Congress, after this meeting, have our own discussion and deliberations and the government will also seriously reflect on demands of the Congress, which is in the interest of the economy and interest of the people of India and after that once the deliberations are complete then there would be any further contact," senior party leader Anand Sharma told reporters.
 
"We hope that the government has registered our concerns and the merits of what we are saying," he added.
 
Sharma said that the Congress was the original author of GST and its demand was neither political nor partisan.
 
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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Infant deaths: Bengal suspends, transfers Kolkata hospital staff
The West Bengal directorate of health services on Friday said four staffers of the state-run Medical College and Hospital Kolkata have been transferred and several others suspended following the death of two babies allegedly due to overheating in a warmer apparatus.
 
According to state health services director B.R. Satpathi, punitive action has been initiated against at least seven healthcare workers at the hospital, including the head of the paediatric unit and three junior doctors.
 
"The decision has been approved by Chief Minister Mamata Banerjee. Four people have been transferred to RG Kar Medical College and Hospital, including head of the paediatric unit, nursing head and the deputy. Three junior doctors and the nursing staff are on suspension. The sister-in-charge has been put on immediate suspension," Satpathi said.
 
However, a section of the nursing unit launched a protest against the suspension and transfer orders accusing the state government of not providing adequate infrastructure and staff to support the care of newborns.
 
A probe panel was set up by the authorities following allegations by their parents that the babies died in the radiant warmer apparatus due to overheating caused by negligence of the hospital staff.
 
The bereaved parents also accused the hospital of misleading on the cause of the death in the death certificate.
 
Admitted to the sick neonatal care unit, the infants died on November 21.
 
According to the WHO, newborn babies, in particular pre-term and those with low birth weight, are predisposed to hypothermia and warming devices, namely incubators and radiant warmers, are needed for them.
 
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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COMMENTS

Maulik Sanghavi

1 year ago

Don't you think these people should be charged with the case for murder?

Nifty, Sensex headed higher – Weekly closing report
As long as Nifty stays above 7,800, it will be bullish
 
We had mentioned in last week’s closing report that Nifty, Sensex will struggle but if Nifty does not breach 7,700, it is likely to head higher. The major indices in the Indian stock markets were in the red on Monday and Tuesday, but rallied on Thursday and Friday, after a holiday on Wednesday. The central government's efforts to get a key economic legislation passed during the winter session of parliament cheered the Indian equity markets on Friday. The government’s initiatives in economic reforms have been keeping the markets stable for around two weeks. The weekly trends of the major indices through the week’s trading are given in the table below:
 
 
Heightened chances of a US rate hike coupled with the upcoming stormy winter session of parliament and derivatives expiry subdued Indian equity markets on Monday. The upcoming winter session of parliament and derivatives expiry subdued Indian equity markets on Tuesday. The government needs to get the Goods and Services Tax (GST) bill passed in the Winter session to meet the 1 April 2016, roll-out deadline. The US Fed held an 'unscheduled' meet on Monday. The meet precedes the Federal Reserve policy meet in December, when a rate hike is expected to be announced. The US central bank has given signs that it might go in for a series of gradual rate hikes starting from December. However, in the short term, higher interest rates in the US are expected to lead away FPIs (Foreign Portfolio Investors) from emerging markets such as India.
 
Japanese life insurer Nippon Life Insurance will increase its stake in Reliance Life Insurance to 49%  by acquiring 23% stake from Reliance Capital for Rs2,265 crore, the two groups said on Tuesday. In line with the new shareholding structure, the name of the company will also be changed to Reliance Nippon Life Insurance Company Ltd. 
 
 Admitting that there were still a number of regulatory and taxation issues in India, Prime Minister Narendra Modi on Tuesday tried to hard sell the country's business potential to Singapore's corporate community and assured that he will do the hand-holding when they come to India. Wednesday was a market holiday for the Indian stock markets. Moody's Investors Service on Wednesday said the failure to implement reforms by passing the GST and land bills in parliament could potentially hurt investments amid weak global growth and prove to be a "downside factor" for Indian companies. "It seems highly unlikely that the major reforms will get enacted by the upper house of the Indian parliament where the ruling coalition is in minority. A failure to implement these reforms could hamper investment amid weak global growth," Moody's vice president Vikas Halan said in a report. "The government is unlikely to win a majority in the upper house if it keeps losing state elections like it did recently in Delhi and Bihar. Opposition parties are unlikely to allow key reforms to go through," he added. The constitution amendment bill for Goods and Services Tax (GST) has been passed by Lok Sabha, and is pending in the Rajya Sabha, where the ruling NDA does not have majority. Minister of State for Finance Jayant Sinha told reporters on Monday that the government is making efforts to convince the opposition about the GST bill.
 
Heightened chances of key economic legislations getting passed during Parliament's winter session coupled with hopes of a stimulus package in European Union buoyed the Indian equity markets on Thursday. Initially, both the bellwether indices of the Indian equity markets opened on a weak footing but gained strength in line with their Asian and European peers. Furthermore, better-than-expected outcome of the derivatives expiry cheered investors. 
 
The government on Thursday announced indirect tax incentives for India's stressed shipbuilding industry in a bid to give a push to the sector. The finance ministry notified it had exempted all raw material parts used in the manufacture of ships, vessels, tugs and pusher crafts and the like from customs and central excise duties. The export oriented units (EOUs) too will be eligible for this incentive. These benefits were earlier available if the manufacture was in a customs bonded warehouse, which condition is being withdrawn, the statement said. "Instead, these exemptions will now be subject to actual user conditions," the ministry said. The shipping ministry told parliament late last year that it had asked the Reserve Bank of India and the finance ministry to relax some of the financial regulations on banks engaged in corporate debt restructuring (CDR) of shipyards. Shipping is highly capital intensive and depends largely on the debt market to finance its acquisitions.
 
On Friday, GST hopes buoyed the stock markets and there is a feeling that the winter session of Parliament will be productive for legislation related to economic reforms. The stock markets promptly rallied and the gains of the indices on a daily basis were around 0.65%-1.96%.
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 

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