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Wednesday, 13 September 2017

Why are petrol and diesel prices rising while crude is falling? Oil Minister Dharmendra Pradhan explains the trend

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Through the daily price revision mechanism, Oil Ministry has worked out the best formula to ensure retail prices of petrol, diesel were reflective of international crude oil prices, Dharmendra Pradhan said.



In the media and assured citizens that the ministry, through the daily price revision mechanism, had worked out the best formula to ensure retail prices of petrol and diesel were reflective of the crude oil prices in the international market.

"Fortnightly pricing was pinching consumers. We made it daily so you don't have to wait for 15 days to enjoy the benefits, if the international crude prices fall", he said.
Pradhan said Hurricane Harvey and Irma in recent days had impacted fuel prices because 13 per cent refinery deficits had pushed the prices up.


But he assured that this won't be the case in the days to come. "Due to Harvey and Irma, petrol prices went up by 18 per cent and diesel by 20 per cent. Today, for instance, prices are stable. Estimates suggest that prices will ease out in the coming days", Pradhan said.

In response to the Opposition's questioning the Centre of benefitting only select oil companies, Pradhan hit back, "Should we be formula-driven or go for a knee-jerk reaction", he asked.
  • CONGRESS CALLS CENTRE 'ECONOMIC TERRORISTS'

The Congress has called the Centre "economic terrorists" for burdening consumers with some of the highest prices in petroleum products in the world.
"Because product (crude) prices drop internationally, that doesn't mean refining costs and transportation costs go down. State taxes sometimes go up too", Pradhan retorted.

He said the Ministry of Petroleum cannot interfere in the day-to-day affairs of oil marketing companies, but can only press for transparency and efficiency. Bringing oil under GST, he added, was the only way to bring in some predictability.
"We aren't hiding anything. The revenue and taxes earned are invested towards welfare schemes like healthcare, roads and railways", Pradhan concluded.


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70% people want scrapped Rs 1,000 notes back: Survey

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Following demonetisation, the Reserve Bank had also introduced new Rs 500 and Rs 2,000 notes.


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Ten months after the note-ban, which saw the scrapping of Rs 1,000 and Rs 500 notes, nearly 70 per cent of the population want the Rs 1,000 banknotes back, says a survey.

Last November, government scrapped Rs 500 and Rs 1,000 notes, which accounted over 86 per cent of the total Rs 16.24 trillion value of banknotes in circulation as of March 2016.

To the consternation of the pro-note-ban advocates and the government which was expecting trillions in savings from the move, last week the Reserve Bank had said as much as 99 per cent of the scrapped notes have come back to the system.

"Nearly 69 per cent of the surveyed population responded with 'yes' when asked if there is a need for Rs 1,000 banknotes," according to a survey conducted by Way2Online, a Hyderabad-based local language short news app.

Following demonetisation, the Reserve Bank had also introduced new Rs 500 and Rs 2,000 notes.
Having released the new Rs 500 and Rs 2,000 bills for easy swapping of old notes, the choice of denominations severely hurt the section of population that deal with smaller denomination notes, the survey said.

"Around 62 per cent of the respondents faced problems in getting change since the note ban, while a 38 per cent had no issue in getting the change," the survey said.

In August, the Reserve Bank introduced Rs 200 banknotes in a bid to fill the gap and ease cash transactions by guaranteeing getting change for larger denomination notes.
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When asked if the newly minted Rs 200 bill will help in fixing the problem, more than two-thirds of the respondents or 67 per cent, answered in the affirmative while 17 per cent said that the new note will make no difference.

Of the 62 per cent who had trouble with getting exact change, only 44 per cent believed the new 200 currency note will solve the problem, while 10 per cent are convinced that the current ratio is too big to be filled with just a single denomination note.

Only 8 per cent were unaffected by the move, probably they have accepted digital payments or have apprehensions about the availability of the new notes.

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Tuesday, 12 September 2017

Ad Shows Lord Ganesha Eating Lamb, India Lodges Protest With Australia

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Sydney: India has lodged an official complaint over an Australian advertisement that features Lord Ganesha and other religious icons endorsing lamb.




In the TV commercial from industry group Meat and Livestock Australia, a number of religious figures, including Lord Ganesha, Jesus, Buddha and Scientology founder L. Ron Hubbard, are seen sitting down together to a lamb-based meal and raising a glass to the meat.


The image of elephant-headed Lord Ganesha, who is widely considered to be vegetarian, was met with anger in Australia's Indian community.

The Indian High Commission in Canberra said it had taken the issue up with the Australian government.

"Lord Ganesha along with other religious figures is found to be 'toasting lamb', which the Indian community consider to be offensive and hurting their religious sentiments," the commission said in a statement on Saturday.


The Indian consulate in Sydney has also made a direct appeal to Meat and Livestock Australia to withdraw the commercial, according to the statement.

The industry body said it was meeting community groups to respond to their concerns. 


It said it had undertaken extensive research and consultation when producing the advertisement, which was intended to promote inclusivity and not intended to offend.


Caption: In the TV commercial, a number of religious figures, including Lord Ganesha, are seen sitting down together to a lamb-based meal and raising a glass to the meat.


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Monday, 11 September 2017

Gurugram school murder: Top Ryan officials held; murdered student's father moves SC seeking CBI probe

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GURGAON/NEW DELHI: Two top officials of the Ryan International Schoolwere arrested on Monday and the acting principal detained for questioning following the gruesome murder of a seven-year-old student on campus, even as the victim's father moved the Supreme Court seeking a CBI probe.


Ryan International Group CEO Ryan Pinto and his parents, who are its founders, approached the Bombay High Court today to seek anticipatory bail in connection with the child's murder in the chain's Gurgaon school.

SHO of Sadar Police Station on Sohna Road in Gurgaon was meanwhile suspended over a baton-charge on protesting parents, as well as journalists, outside the school premises.




Protests continued at other places with the parents of children studying in Ryan International School's Noida and Greater Noida branches seeking an assurance regarding safety of their wards.




Gurgaon police chief Sandeep Khirwar told PTI that the school's Legal Head, Francis Thomas and HR Head, Jeyus Thomas were arrested on Sunday night following interrogation.


"Acting principal Neerja Batra has been detained and is being questioned. She is likely to be arrested soon," Khirwar said.



Acting on the report of a three-member panel that had indicated lapses, the two top officials of the school management were arrested under section 75 of the Juvenile Justice act, police officials said.






Schoolbus conductor Ashok Kumar, who allegedly tried to sexually assault the class II student in a toilet and slit his throat with a knife when he resisted on Friday last is already behind bars.




The Haryana police has formed fourteen teams to probe the case, which has triggered massive outrage, according to officials. A special investigation team will reach Mumbai to question school CEO Pinto and director Albert Pinto, they said.


The father of the 7-year-old, however, approached the Supreme Court seeking a CBI probe, which prompted the apex court to seek responses from the Centre and Haryana.



A bench headed by Chief Justice Dipak Misra also sought a response from the Central Board of Secondary Education (CBSE) on the plea, which has sought framing of guidelines to fix responsibility of school managements in case of such incidents and also regarding the safety and security of children.


"This petition is not restricted only to the school concerned as it has a country-wide ramification," the court said during the brief hearing.




The bench, also comprising Justices A M Khanwilkar and D Y Chandrachud, asked the governments and the CBSE to respond within three weeks.




Barun Chandra Thakur, the father of the student said in his plea filed through advocate Sushil Tekriwal, that free and fair investigation should be conducted by the CBI under the monitoring of the apex court in the matter.


At the Bombay High Court, Ryan International Group's founding chairman, Augustine Pinto (73), and his wife Grace Pinto (62), who is the managing director of the institution, along with their son Ryan Pinto sought anticipatory bail.




Their counsel Niteen Pradhan mentioned the applications this morning before Justice Ajey Gadkari, who posted them for hearing tomorrow.




The Pintos, in their pleas, said while the death of the boy was unfortunate, the management cannot be held culpable and that they themselves were victims of the unfortunate circumstances.




The death has caused deep pain not only to the parents and family of the child but also to the trustees, management, staff and students of the school, their applications said.

"This is not only the darkest hour for the family but also for the institution. Such an incident has taken place for the first time in the past four decades since the institution was set up," the three said in their bail pleas.



Despite taking all necessary steps for security and well being of the students as required by law and prudence, if such an unfortunate incident occurs, the institution cannot be held culpable as it is itself a victim of unfortunate circumstances, they said.




According to the pleas, the Pintos read newspaper reports which mentioned that there were demands for booking the management.




"Hence, we apprehend action against us in the matter. We seek the court to grant us transit protection from arrest so that we can approach the appropriate judicial authority in Haryana," the pleas said.



The petitioners said they were residents of Mumbai from where the overall management of the institution was carried out. The day-to-day management of each school is taken care of by the local staff appointed by the management, they said.


While no outsider is allowed to enter school premises, bus drivers and conductors, who have been given identity cards, were allowed to use basic amenities like toilets on "humanitarian grounds", they said in the petitions.




Because of the CCTV placed in the corridor covering the entrance of the Gurgaon school washroom where the incident occurred, the culprit could be identified immediately and arrested, the pleas added.


Earlier, a fact-finding panel in its report had highlighted several deficiencies, including in the installation of CCTV cameras at the school, lack of separate toilets for drivers and conductors, unsafe toilets, a broken boundary wall, lack of ramps, expired fire extinguishers and lack of police verification of employees, officials said.




The district administration has asked the school to ensure safety at its premises and gave it 15 days to reply to a show cause notice, they added.






All Ryan group schools in Gurgaon have been ordered to remain shut on Monday and Tuesday.


As the outrage over the murder kept mounting, the SHO of Sadar Police Station was suspended in connection with a baton-charge on protesting parents and journalists outside the school.




Haryana Chief Minister Manohar Lal Khattar had yesterday termed as "unfortunate" the baton charging in which some mediapersons covering the protest were also injured and ordered action against erring policemen.




Hundreds of angry parents had staged a protest outside the school demanding a CBI probe into the murder of the 7- year-old.


For applying baton charge on angry mob and journalists outside the school on Sunday morning, Gurgaon Police Commissioner has suspended SHO-Sadar Sohna for negligence," ACP and Chief PRO of Gurgaon Police Manish Sehgal said.




Khattar said the government will bear the medical expenses of journalists who were injured in the police action.




There were protests in Noida and Greater Noida as well where parents gathered outside Ryan International School branches and sought assurance on the safety of their children from the management.



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Airtel consults handset companies to launch 4G smartphone for Rs 2,500 to rival Jio

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NEW DELHI: India's largest telecom operator Bharti Airtel in talks with multiple handset makers to bring a 4G smartphone for a price as low as Rs 2,500-2,700 to take on Reliance Jio.




While Mukesh Ambani-led Jio has announced plans to offer Internet-enabled feature phone for a refundable deposit of Rs 1,500, Airtel is placing its bet on a full-fledged smartphone as it believes people would be ready to shell out a little more to get a loaded handset.


A source familiar with the development said the new 4G smartphone - that will debut around Diwali - will come bundled with Airtel's 4G connection and "attractive" data and voice plan to woo mass market customers.



The planned dual SIM 4G smartphone will sport a four inch display, dual camera, VoLTE calling and a longer battery life

.

The Android handset will come with 1 GB RAM, said the source who wished not to be named.He, however, did not say when the phones would be available for booking.




Reliance Jio had, in July, announced that formal bookings for Jio Phone would open on August 24, while the phone itself is expected to be available from September.





According to industry estimates, six million bookings have been recorded for JioPhone, that offers free voice calls and sms for life. Unlimited data offering comes for Rs 153 per month.




While the details such as the name of the handset makers that Airtel is negotiating with and the exact offers on anvil are still under the wraps, it is learnt that the Sunil Mittal company will co-promote the 4G smartphone with the manufacturers.


Besides this, Airtel also plans to offer its retail distribution muscle to take the device to the masses.



"The company is talking to various handset manufacturers to bring a Rs 2,500 to Rs 2,700 Android-based 4G smartphone to the market around Diwali," the source said.



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Sunday, 10 September 2017

'Pray for everybody': Irma begins its assault on Florida

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ST. PETERSBURG, Fla. - Announcing itself with roaring 130 mph winds, Hurricane Irmaplowed into the mostly emptied-out FloridaKeys early Sunday for the start of what could be a slow, ruinous march up the state's west coast toward the heavily populated Tampa-St. Petersburg area.


"Pray, pray for everybody in Florida," Gov. Rick Scott said on "Fox News Sunday."
With an estimated 127,000 huddling in shelters statewide, the storm lashed the low-lying string of islands with drenching rain and knocked out power to over 1 million customers across Florida.
About 30,000 people heeded orders to evacuate the Keys as the storm closed in, but an untold number refused to leave, in part because to many storm-hardened residents, staying behind in the face of danger is a point of pride.
While the projected track showed Irma raking the state's Gulf Coast, forecasters warned that the entire Florida peninsula - including the Miami metropolitan area of 6 million people - was in extreme peril from the monstrous storm, almost 400 miles wide.
Nearly 7 million people in the Southeast were warned to get out of the storm's path, including 6.4 million in Florida alone.
The Republican governor said on NBC that he spoke to President Donald Trump, and "everything I've asked out of the federal government, he's made sure he gave us."
Once the storm passes, "we're going to need a lot of help," Scott warned. But he also described Florida as "a tough state. We're going to come through this."
Irma made landfall in the U.S. just after 9 a.m. at Cudjoe Key in the lower Keys, forecasters said. By midmorning, it was centered about 20 miles (30 kilometers) northeast of Key West, moving at 8 mph (13 kph).
As the hurricane's eye approached the Keys, 60-year-old Carol Walterson Stroud and her family were huddled in a third-floor apartment at a senior center in Key West.
"We are good so far," she said in a text message just before 5:30 a.m. "It's blowing hard."
Key West Police urged anyone riding out the storm in that city to "resist the urge" to go outside during the eye, the deceptively calm interlude in the middle of a hurricane. "Dangerous winds will follow quickly," police said in a Facebook post.
Irma was at one time the most powerful hurricane ever recorded in the open Atlantic, with a peak wind speed of 185 mph (300 kph) last week.

It left more than 20 people dead across the Caribbean, and as it moved north over the Gulf of Mexico's bathtub-warm water of nearly 90 degrees, regained strength.
Forecasters said Irma could hit the Tampa-St. Petersburg areas early Monday.
The Tampa Bay area has not taken a direct hit from a major hurricane since 1921, when its population was about 10,000, National Hurricane Center spokesman Dennis Feltgen said. Now around 3 million people live there.
Some 400 miles north of the Keys, the wind was picking up in St. Petersburg and people began bracing for the storm's wrath.
"I've been here with other storms, other hurricanes. But this one scares me," Sally Carlson said she snapped photos of the waves crashing against boats. "Let's just say a prayer we hope we make it through."
John Leuders, another St. Petersburg resident, said he felt confident of his storm preparations: "We tore down part of our fence because we couldn't get any plywood from Home Depot and Lowe's, and we boarded up with the fence."
The governor activated all 7,000 members of the Florida National Guard, and 30,000 guardsmen from elsewhere were on standby.
In the Orlando area, Walt Disney World, Universal Studios and Sea World all closed on Saturday. The Miami, Fort Lauderdale, Tampa and Orlando airports shut down.
Given its mammoth size and strength and its projected course, Irma could prove one of the most devastating hurricanes ever to hit Florida and inflict damage on a scale not seen here in 25 years.

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Saturday, 9 September 2017

Onion importers worry over drop in prices


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NASHIK: Onion importers, who have already given orders and are in the process of getting consignments from Egypt, are ruing their decision following to drop in onion prices.






As the maximum wholesale onion prices touched Rs 2,600 per quintal in first half of August, some of the private traders had given a bulk orders for import of onions from Egypt. Private traders have already imported around 4,000 metric tonnes of onions so far from Egypt and import of another 6,000 metric tonnes of onions are on way to Mumbai, which is expected within a week or two.The landing price of onions from Egypt in Mumbai is at Rs 20-22.


But the average wholesale onion prices currently have dropped to Rs 1,500 per quintal. And traders are ruing their decisions due to decline in wholesale onion prices in domestic market."These traders from Mumbai and elsewhere in the country are lamenting their decision to import inions since the domestic wholesale price of the commodity has dipped significantly. Their decision to import onions has gone wary and would have incur losses to sell them in the domestic market," said the sources close to the development.

According to sources there is no chance that these traders will make any profit by selling imported onions," said a onion importer, who is importing over onion laden 100 containers each with 20 tonnes.

The average wholesale onion prices in the domestic markets increased five times from Rs 450 per quintal on May 31 to Rs 2,450 per quintal on August 10, registering 20-month high price due to short of supply. Previous high of average wholesale onion price had been recorded at Rs 2,450 per quintal on November 19, 2015.



In retail markets of Nashik, onion prices have increased from Rs 10 to Rs 30 per kg after rise in wholesale onion prices in past two-three months. The retail onion prices have reached up to Rs 40 per kg in many other parts of the country.


The average wholesale onion prices are fluctuated in the range from Rs 1,550 per quintal to Rs 2,200 per quintal in past 20 days.




The average wholesale onion price at Lasalgaon APMC was recorded at Rs 1,500 per quintal on Friday. The minimum and maximum wholesale onion prices were recorded at Rs 700 and Rs 1,750 per quintal, respectively on Friday at Lasalgaon. Around 17,000 quintals of onions were auctioned at Lasalgaon on Friday.


There will be no fresh harvest of the crop up to mid-October. And the kharif plantation of onions too has been delayed due to late arrival of monsoon. Presently, the onions arriving in the market are of summer crop harvested during March and April. Since the shelf life of summer onions is much more than the kharif onions, the farmers prefer storing summer onions with a hope of getting better prices.



According to APMC sources, although the prices have dropped to Rs 1,500 per quintal, but it may increase further towards Rs 2,000 per quintal in next few days due to short of supply in the country although there has been enough stock in Maharashtra.



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