Nation
Uri attack: India to gather evidence, isolate Pakistan at global fora
The government at the highest level mulled its options in the wake of the Uri terror attack, with informed sources indicating that Prime Minister Narendra Modi has sought a concerted global effort to diplomatically isolate Pakistan as an immediate step.
 
Modi, who chaired a meeting here on Monday to review the situation in Jammu and Kashmir in the wake of the attack that left 18 soldiers dead -- one more soldier succumbed to his injuries in Delhi -- wants clear evidence of Pakistan's complicity to be presented to all major global fora, including the upcoming UN General Assembly, the sources indicated.
 
The meeting was attended by Home Minister Rajnath Singh, Finance Minister Arun Jaitley, Defence Minster Manohar Parrikar, National Security Adviser Ajit Doval, Army Chief Gen. Dalbir Singh Suhag and other senior officials in the PMO, Defence Ministry and the Home Ministry.
 
The meeting is believed to have also considered several other options, the sources said, but these were likely to be measured and well thought-out.
 
At the meeting, the Prime Minister was also briefed about the use of "incendiary" ammunition by the terrorists, though such ammunition can be found only with army establishments, a source said. 
 
Such ammunition, experts believe, points to the backing the terrorists received from the Pakistan Army. 
 
The sources said that Modi asked the security and other investigative agencies to collect all evidence that points to Pakistani involvement in the attack for presentation at international fora.
 
The sources said the broad thinking was that India must act without getting into the trap of emotions and anger after taking into account both the short- and long-term implications.
 
Speaking to reporters separately, Minister of State for Home Kiren Rijiju said India was not concerned about Pakistani denials and reactions and will react appropriately and at its own pace. 
 
"Everything is in front of the people. We must not give much attention to Pakistan's reaction. We will take our steps carefully," Rijiju said.
 
Modi's high-level meeting was held shortly after Rajnath Singh reviewed the situation along the border and the Line of Control (LoC) at a meeting with Home Ministry officials who were directed to coordinate with other border states like Punjab, Rajasthan and Gujarat.
 
In Punjab, the border districts have been put on high alert.
 
India has put the blame on Pakistan for the Sunday morning attack, with the Prime Minister asserting that the perpetrators will not go unpunished.
 
Pakistan has rejected Indian allegations that Islamabad was to blame for the killing of soldiers at the camp near Uri town on Sunday.
 
Modi is under pressure to live up to his 2014 election campaign rhetoric of showing Pakistan that India is not a "soft power" and would give a "befitting reply" to any attacks on the country.
 
Expectations of appropriate action were raised when Modi himself said soon after the attack: "I assure the nation that those behind this despicable attack will not go unpunished."
 
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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Another soldier dies, Uri toll 18
A 20-year-old soldier injured in the Uri terror attack died of injuries in a Delhi hospital on Monday, taking the toll to 18, officials said.
 
The soldier, identified as K.V. Janardan from Maharashtra, died at the Army Research and Referral Hospital, a hospital official told IANS over phone. 
 
"He lost his battle with life at 11.30 a.m. this morning," the official said.
 
Janardan, a resident of Purad village from Yamatval district in Maharashtra, is survived by his wife Sneha Vikas. 
 
Janardan was among three soldiers flown to Delhi for treatment following injuries sustained in Sunday's fidayeen attack in an army base camp in Uri in Jammu and Kashmir.
 
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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IOC investment plan not to affect its credit profile: Fitch
International rating agency Fitch Ratings on Monday said Indian Oil Corporation's (IOC) financial profile would "remain stable" even though the state-run oil marketing company (OMC) planned to invest Rs 1,700-Rs 1,800 billion over the next six years.
 
The OMC on Thursday announced that it would invest Rs 1,700-1,800 billion over the next six years, including around Rs 150 billion in the current fiscal and around Rs 250 billion each in FY18 and FY19.
 
"Fitch has already factored in most of the capex over the next three years, and we see no significant change to our current expectations as a result of this announcement. We continue to expect IOC's free cash flow to remain negative over the medium term, due to the high capex," the rating agency said, adding that it expected "IOC's financial profile to remain stable due to strong volume growth and relatively robust refining margins".
 
According to the rating agency, the oil marketing company's credit metrics is likely to weaken marginally but to remain within levels commensurate with its standalone profile over the medium term.
 
Fitch equalises IOC's ratings with that of its largest shareholder, the Indian state (BBB-/Stable) due to their strong operational and strategic linkages.
 
The agency has not factored in its investment along with the other state-owned oil-marketing companies -- Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited -- in the proposed refinery project in coastal Maharashtra.
 
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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