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3``Devc Dy`E W`C Drxxz X VT` `^J %' D; ! E ! E E - .-/'012 ) !"!)". ()*+,- $ )*,/ 62<:71: >76 * ,7*6( 2+ , 8:2 66,<67 ;:,< ,>*1(6& '<6 ,'<>'(:7&2 6;:+6*2*C 2(*< 2 >2 *<(; 2< 72:, 72 1: ( 2F 27:(,( :,; ;:<2;>( <C;:2';8 /C&; G, * *,4)--% ##H G7 : 3 ! 42345'67 '14 # $% P (:&;:,< !"#$%!&%! '&&(% % & ' day after Chief Economic AAdviser (CEA) 73 = Krishnamurthy Subramanian > 5$$$$ 7'? @ ruled out a major stimulus package for the economy trig- ' ? gering a massive sell-off in the < equity market, the Government 3 did just the opposite on Friday. Finance Minister Nirmala +7+: 7 A$ Sitharaman on Friday *72 announced a slew of measures to perk up the economy and ## (:&;:,< address the concerns of foreign 7 ; % The sale of tags will con- portfolio investors , who pulled *'; he South Delhi Municipal tinue on the points-of-sale out nearly $3 billion from the TCorporation (SDMC) on (POS) installed at 13 RFID toll India stock markets ever since Friday announced that only plazas. Additional six points $ ( ) ) $ * ' 4@ the Budget imposed surcharge + A4#$#$ those commercial vehicles have been set up in satellite on their investment. Relentless ( % $ which have radio-frequency towns of UP and Haryana. selling by the foreign portfo- identification tags (RFID) will The SDMC had earlier lio investors (FPIs) and con- within 30 days, amendment to The reveral of FPI sur- be allowed to enter the nation- extended the last date for pre- cerns about the health of econ- MSME Act to move towards charge shows that the people % al Capital after three weeks. registration and subsequent omy saw sensex losing more single definition to be consid- engaged in the Budget making 7 1C* With the RFID system issuance of RFID tags from than 4,000 points in less than ered, issue of IT orders, notices, completely failed to under- coming into force at 13 busy August 16 to August 23, con- two months. etc through a centralised sys- stand the mindset of foreign border points from August 23 sidering difficulties being The stimulus package tem to cut harassment, etc. investors. midnight, non-RFID vehicles faced by owners of commercial included rollback of super- Besides, the Government It is also baffling why will have to pay penalties in vehicles and taxis in getting rich surcharge on FPIs, domes- said it will set up an inter- someone like the CEA made order to enter the city. pre-registered and subse- tic investors on gains from Ministerial task force to short- such a comment about no Government revenues by per cent and 42.74 per cent, investors, it has been decided However, after three weeks, quently obtaining RFID tags stock market, frontloading of list infrastructure projects for stimuls, the news was one of 1,400 crore. respectively. that section 56(2)((viib) of non-RFID vehicles will not be for entry into Delhi from 13 already announced 70,000 its ambitious target of spending the prime reason of sail-off in Sitharaman had in her Some 40 per cent FPIs the Income Tax Act shall not allowed to enter the city, SDMC toll plazas. crore of recapitulation package 100 lakh crore in the sector. the market and estimated loss maiden Budget hiked the sur- automatically came under the be applicable to a start-up authorities said. Additional Commissioner for PSU banks, CSR violation With several major com- of nearly 2 lakh crore of charge on income tax paid by higher tax rate as they have registered with DPIIT,” she “After three weeks, those of SDMC Randhir Sahay said not to be treated as criminal panies reporting sinking prof- investors’ wealth in a single day. super-rich individuals. The been investing as a non-cor- said. without RFID will not be after Friday midnight, non- offence, reduction on EMIs it and announcing job cuts, the “In order to encourage surcharge, levied on top of the porate entity such as trust or The Government also allowed to enter the city,” a RFID vehicles will have to pay for housing loans, vehicle and Government had a few option, investment in the capital mar- applicable income tax rate, was association of persons (AOPs), announced several relief mea- senior corporation official said. twice the basic amount of envi- other retail loans and provid- but to come out with some ket, it has been decided to with- hiked from 15 per cent to 25 which in the Income Tax law sures, including deferring one- The 13 entry points receive ronment compensation charge ing protection to honest deci- relief for both the equity mar- draw the enhanced surcharge per cent for those with taxable are classified as an individual time registration fee, lifting 85 per cent of the incoming in the first week. It will become sion-making by bankers for ket and corportates as well as levied by Finance (No.2) Act, income of 2-5 crore and to 37 for the purpose of taxation. ban on purchase of traffic in Delhi. Once a person four times in the second week boosting lending. Also it commoners. The Finance 2019 on long/short term capi- per cent for those earning Sitharaman also petrol/diesel vehicles and buys an RFID tag and it is past- and six times in the third included additional liquidity Minister did try to cover all the tal gains arising from the trans- more than 5 crore. This announced exempting start-- allowing higher depreciation, ed on his registered vehicle, the week. “After three weeks, the support to HFCs raised to key stakeholders within the fer of equity shares/units,” increased the effective tax rate ups from the so-called angel but it remained non-commit- environment compensation entry of non-RFID commercial 30,000 crore, pending GST constraints of not too rosy tax Sitharaman told reporters here. for these two groups by 3.12 tax. “To mitigate genuine dif- tal on the demand for a reduc- charge will be deducted at the vehicles will be completely refunds to MSMEs to be paid revenue scenario. The move will dent per cent and 7 per cent to 39 ficulties of start-ups and their tion in GST rates. 13 toll plazas automatically. banned,” he added. R !"# 2 7 cry...Reform, perform, and $ transform and with perma- N O rime Minister Narendra nent systems, the country is PModi on Friday said the moving forward to achieve its * + the Aircel-Maxis case against resounding mandate to the goal.” Chidambaram and his son BJP in the 2019 Lok Sabha polls Modi, who was in France -$ Karti on the pleas by the CBI ! was for building a “new India”, on the first leg of his three- ) & and the ED, which sought the and asserted corruption, nepo- nation tour, said there have adjournment saying that tism, loot of people’s money, been a number of constructive another case pertaining to INX and terrorism have been reined changes in the last five years. (:&;:,< Media involving them was in like never before. “India is racing ahead not pending before the Supreme #$% Addressing the Indian because of Modi...It is because n a relief to former Union Court. community at the UNESCO of the stamp of approval that IMinister P Chidambaram in Special Judge OP Saini &' O(#) headquarters here, Modi also the people of India have given the INX media scam, the took strong objection to the * talked about “major decisions” in the form of their votes,” the Supreme Court on Friday agencies seeking repeated ++ ' % ! such as banning of practice of Prime Minister said amid granted him protection from adjournments, saying “things triple talaq, taken by his loud cheering of “Modi hai arrest by the Enforcement have become very embarrass- !" Government. toh mumkin hai” (it is possi- Directorate till August 26. August 26. However, his legal ing for me”. # In a veiled reference to ble if Modi is there) from the Chidambaram is in the CBI team sees the order as the first The court then reserved "$$% abrogation of Article 370 in ( ' .(/)#0P) % -1 crowd. custody in the INX case till victory since the ED vehe- order on Chidambaram’s antic- Jammu & Kashmir, Modi said, * * $ * He also asserted “in ‘new August 26. mently opposed ipatory bail plea for September , *-,*. “There is no scope for tempo- India’, corruption, nepotism, In real term, the SC’s deci- Chidambaram’s plea for inter- 3 and extended the / 01 O2 % rary in India. You would have Mahatma Gandhi, Gautam porary. To remove temporary dynasty, loot of people’s money, sion does not matter much for im protection. interim protection from seen that a country of 1.25 bil- Buddha, Ram, Krishna, took 70 it took 70 years, I dont know and terrorism have been reined Chidambaram as her is Meanwhile, a Delhi Court Chidambaram’s arrest by the lion people, the land of years to remove what was tem- whether I should laugh or in like never before.” already in the CBI custody till on Friday refused to adjourn agencies till then. ! # &'( # !" # $ % O P 33 +345 1 O' &' % !" #5 (:&;:,< praised whenever he says or &7< ( 6( continuing to call for calm and (:&;:,< Khurshid, who was appearing does the right thing, which restraint, including on 3 for one of the petitioners. ongress leaders Abhishek would add credibility to our onald Trump is “ready to rhetoric,” a senior adminis- ! ) he Supreme Court on Khurshid said there were CSinghvi and Shashi criticisms whenever he errs. I Dassist” India and Pakistan tration official said on TFriday
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