Wednesday, September 18, 2019

ANALYSIS OF THE HINDU AND ECONOMIC TIMES DATED 18 TH SEPTEMBER,2019 WITH EDITORIAL


  • NEWS PAPER ANALYSIS
    THE HINDU AND ECONOMIC TIMES
    DTD 18/9/2019

  1. THE HINDU: (1)
    GOVT TO PEG MGNREGA WAGES TO INFLATION IN BID TO HIKE INCOME
  2. THE GOVERNMENT WANTS TO REVISE WAGES MGNREGA (MAHATMA GANDHI NATIONAL RURAL EMPLOYMENT GUARANTEE ACT EMPLOYMENT GUARANTEE ACT (MGNREGA) TO ADDRESS THE SLOW DOWN IN THE RURAL ECONOMY.
  3. WAGES WILL INCREASE MGNREGA EXPENDITURE BY 10%
  4. MAY INCREASE PURCHASING POWER AND REVIVE PURCHASE DEMAND
  5. WAGES UNDER THE SCHEME TO AN UPDATED INFLATION INDEX
  6. SOME ECONOMISTS QUESTION WHETHER THE MOVE WILL BE SUFFICIENT TO REVIVE DEMAND WITHOUT INCREASING THE SCHEME’S BASE PAY RATES WHICH ARE FAR BELOW MARKET RATES IN MOST STATES.
  7. EVEN WITH THE EXISTING WAGES,SCHEME IS RUNNING OUT OF FUNDS DUE TO INCREASED DEMAND FOR THE WORK
  8. RD MINISTRY DEMANDED MORE FUNDS 15,000 TO 20,000
  9. GOVT TO PEG MGNREGA WAGES TO INFLATION IN BID TO HIKE INCOME
  10. RECEIVED A BUDGETARY ALLOCATION OF 60,000 CRORE THIS YEAR OF WHICH IS MORE THAN 75% HAS BEEN ALREADY RELEASED. DROUGHT AND FLOODS IN SEVERAL STATES LED TO INCREASE THE DEMAND

  • US ,INDIA KEEN TO WRAP UP TRADE DEALS ( PAGE 1) (ET) INDO US TRADE ISSUES WILL BE RESOLVED SOON (2)
  1. US AND INDIA ARE FRANTICALLY WORKING ON WAYS TO RESOLVE LONG DISPUTED TRADE ISSUES ESPECIALLY RELATED TO MEDICAL DEVICES,AGRICULTURE AND E COMMERCE
  2. MEETING OF US AMBASSADOR  KENNTH I WITH COMMERCE MINISTER PIYUSH GOYAL
  3. THE US GOVERNMENT’S DEMANDS ON BEHALF OF PHARMACEUTICAL COMPANIES IS FOR THE REMOVAL OF PRICE CAPS IT HAS PLACED ON MEDICAL DEVICES ESPECIALLY ON BIO ABSORBABLE STENTS
  4. MR TRUMP WILL BE VISITING MR MODI DURING THE INDIAN LENDER’S HOWDY MODI EVENT IN HOUSTON FOR INDIAN AMERICAN ON SEP 22
  5. US ,INDIA KEEN TO WRAP UP TRADE DEALS ( PAGE 1)
  6. POSSIBILITY OF ANNOUNCEMENT OF A MAJOR TRADE DEALS
  7. THE INDIA US RELATIONSHIP IS IN VERY GOOD HEALTH AND ALL THE SHARPER EDGES WILL BE SMOOTHENED IN NOT SO TOO DISTANT FUTURE : FOREIGN MINISTER S JAISHANKAR
  • PAGE 12
    US INTEL SAYS SAUDI ATTACKS WERE STAGED FROM IRAN
  1. SHARED INTELLIGENCE WITH RIYAD INDICATING THAT IRAN WAS STAGING GROUND FOR THE DEVASTATING DRONE ATTACKS ON SAUDI ARABI’S OIL INSTALLATION
  2. THE WEEKEND STRIKES ON ABQAIQ-THE WORLD’S LARGEST PROCESSING PLANT AND THE KHURAIS OIL FIELD HAVE KNOCKED OUT 5.7 MILLION BARREL PER DAY OR 6% OF GLOBAL PRODUCTION
  3. WASHIGNTON BLAMED TEHRAN
  4. THE US ASSESSMENT DETERMINED THAT IRAN LAUNCHED MORE THAN 20 DRONES AND AT LEAST DOZEN MISSILES
  5. BUT SAUDI OFFICIALS : US INFORMATION WAS NOT DEFINITIVE AND US SAID THAT ARE READY TO HELP
  6. IRAN  SUPPORTED HOUTHI REBELS WHO ARE FIGHTING A SAUDI LED COALITION IN YEMEN CLAIMED THE STRIKE
  7. TENSIONS BETWEEN IRAN AND THE US AND ITS ALLIES  WHEN PRESIDENT DONALD TRUMP ABANDONED 2015 NUCLEAR DEAL AND BEGAN REIMPOSING SANCTIONS IN COMPAIGN OF MAXIMUM PRESSURE
  8. RULED OUT ANY NEGOTIATION WITH US
  9. US ADOPTED THE POLICY OF MAXIMUM PRESSURE ON IRAN BECAUSE IT BELIEVES IT CAN NOT BRING THE ISLAMIC REPUBLIC TO ITS KNEES
  10. THE POLICY OF MAXIMUM PRESSURE IS USELESS
  • EDITORIAL  PAGE 8
    FIRE TO FUEL
  1. THE IMMEDIATE IMPACT OF LAST WEEK’S DRONE ATTACKS ON THE SAUDI ARAMCO OWNED KHURALS OIL FIELDS AND ABQUAIQ OIL PROCESSING FACILITY HAS BEEN IN SUSPENSION OF MORE THAN HALF OF SAUDI ARABIA’S DAILY CRUDE OIL OUTPUT AND AFFECTING GLOBAL SUPPLY
  2. SUDDEN DISRUPTION RESULTED IN THE HIGHEST SPIKE (NEARLY 20%) IN BRENT CRUDE PRICES IN MORE THAN A DECADE BEFORE THE US PRESIDENT’S STATEMENT THAT AMERICA WOULD RELEASE SOME OF ITS STRATEGIC RESERVE RESULTING IN PRICE EASING BACK TO 66$ PER BARREL
  3. HOUTHI CLAIMED RESPONSIBILITY AND US BLAMED IRAQ
  4. THE SAUDI MUST HALT THEIR YEMEN INTERVENTION AND LEAVE IT TO THE UN TO BROKER PEACE

  • IMPACT
  1. THE SUDDEN DISRUPTION OF GLOBAL CRUDE OIL SUPPLY IS THE UNINTENDED CONSEQUENCES OF THE UNRAVELLING OF THE PAINSTAKINGLY CRAFTED P5+1+EU IRAN NUCLEAR DEAL.THE SAUDI’S RECKLESS ADVENTURE IN YEMEN AND THE IRANIAN EMPOWERMENT OF IT PROXIES IN WEST ASIA AS A RESPONSE
  2. DEVELOPMENT IS BOUND TO AFFECT MANY EMERGING ECONOMIES INCLUDING INDIA
  3. WITH INDIA IMPORTING MORE THAN 2/3 FROM WEST ASIA, A PRICE SURGE IS EXPECTED TO IMPACT THE CURRENT ACCOUNT
  4. HIGH FUEL COST AND IMPORTED INFLATION GOING TO HURT THE CONSUMER
  • STEPS BY GOVT: REEVALUATING THE EXCISE DUTIES ON PETROLEUM PRODUCTS

  • THE EDITORIAL PAGE 8
    DEADLY SPREAD
  1. 30 % INCREASE IN MEASLES CASES WORLD WIDE IN 2018,THE WORLD HEALTH ORGANIZATION IN JAN 2019 INCLUDED VACCINE HESITANCY AS ONE OF 10 THREATS TO GLOBAL HEALTH THIS YEAR
  2. THE THREAT FROM VACCINE HESITANCY WHICH IS DEFINED AS THE RELUCTANCE OR REFUSAL TO VACCINATE DESPITE THE AVAILABILITY OF VACCINES.
  3. 3.65,000 MEASLES CASES REPORTED FROM 182 COUNTRIES IN THE FIRST SIX MONTHS OF 2019
  4. BIGGEST INCREASE  OF 900% IN THE FIRST SIX MONTHS AS COMPARED TO PREVIOUS YEAR FROM WHO AFRICAN REGION WITH THE DEMOCRATIC REPUBLIC OF THE CONGO
  5. SHARP INCREASE IN WHO EUROPEAN REGION
  6. THE EDITORIAL PAGE 8
    DEADLY SPREAD
  7. 1,74,000 CASES FROM 49 OF THE 53 COUNTRIES BETWEEN JAN 2018 AND JUNE 2019
  8. LAST MONTH THE UK,GREECE,THE CZECH REPUBLIC AND ALBANIA LOST THEIR MEASLES ELIMINATION STATUS
  9. 2018 REPORTS ON VACCINE CONFIDENCE AMONG THE EUROPEAN UNION MEMBERS STATES SHOWS WHY VACCINE COVERAGE HAS NOT BEEN INCREASING
  10. YOUNGER PEOPLE ( 18-34 YEARS)  AND LESS EDUCATION ARE LESS TO AGREE THAT THE MEASLES,MUMPS AND RUBELLA VACCINE ARE SAFE
  11. 52% OF THE RESPONDENTS AS PER 2019 REPORTS FROM 28 EU MEMBERS AGREED THAT THEY ARE SAFE. 38% THINK IT IS CAUSED BY VACCINATION
  12. THE EDITORIAL PAGE 8
    DEADLY SPREAD
  13. 2018 STUDY IN INDIA FOUND LOW AWARENESS IS THE MAIN REASONS
  14. 45% MISSED DIFFERENT VACCINATION INDIAN DISTRICTS THAT HAVE HIGHEST RATE OF UNIMMUNISED CHILDREN
  15. 24% DID NOT GET VACCINATED DUE TO APPREHENSION ABOUT ADVERSE EFFECTS
  16. 11% WERE RELUCTENT GET IMMUNISED CHILDREN
  17. SPREADING OF AWARENESS
  • THE ET: (1)
    BULLS STAY ON SLIPPERY GROUND OVER OIL SPILL
  1. INVESTORS CONCERNED HIGHE CRUDE PRICES WOULD WIDEN COUNTRY’S DEFICIT,MAKE IT TOUGH TO REVIVE GROWTH
  2. STOCK CONTINUED TO FALL ON TUESDAY DUE TO RISE IN THE PRICE AND WEAKENING OF RUPEES
  3. INDIA THE EFFECT OF HIGHER OIL PRICES ON THE ECONOMY IS SEVER AS THE COUNTRY IMPORTS 80% OF ITS CRUDE NEEDS
  4. SENSEX ENDED :DOWN BY 644.22 POINTS,NIFTY ENDED DOWN BY 185.90
  5. EVERY 10$ BARREL INCREASE IN OIL PRICES LEADS TO 1 $ 15 BILLION OR 50 BASIS POINT OF GDP IMPACT ON THE CURRENT ACCOUNT DEFICIT
  • OVERSEAS DIRECT INVESTMENT STANCE OF RBI STUMPS COS ( 1 0N ET)
  • AN OBSERVATION BY THE RBI MANY CHANGE AND EVEN DERAIL OVERSEAS DIRECT INVESTMENT PLANS OF MANY CORPORATES.
  1. SET OF FREQUENTLY ASKED QUESTION ON ODI RELEASED BY THE REGULATORS A FEW MONTHS AGO NO INDIAN COMPANY CAN ACQUIRE STAKE IN AN OFFSHORE COMPANY WHICH HAS INVESTMENT IN THE INDIAN ENTITY.
  2. APPLICABLE TO THOSE COMPANIES EVEN IS INDIAN COMPANY BUY AN INSIGNIFICANT STAKE IN AN OVERSEAS COMPANY WHICH IN TURN HOLDS OR PICKS A MINORITY INTEREST IN  INDIAN COMPANY
  3. AIMED AT MINIMISING ROUND TRIPPING OF FUNDS AND CURBING INFLOW OF CHEAPER DEBT RAISED ABROAD IN THE FORM OF FOREIGN DIRECT INVESTMENT THE RULE MAY IMPACT GENUINE ODI
  4. EVEN  HOLDING A SINGLE SHARE I CONSIDERED AS JOINT VENTURE
  5. INDIAN COMPANIES BUYING A  LITTLE 1% OR2% EQUITY IN OVERSEAS COMPANY UNDER THE AUTOMATIC ODI ROUTE WILL HAVE TO MAKE SURE THAT OFFSHORE COMPANY DOES NOT HOLD IN ANOTHER INDIAN COMPANY
  • CCI LENS ON ECOMM DEEP DISCOUNT
    PAGE 1
  1. INDIA’ COMPETITION REGULATOR IS CLOSELY WATCHING THE ISSUE OF DEEP DISCOUNTING BY ECOMMERCE PLAYERS AS IT GEARS UP TO DEAL WITH POSSIBLE ANTI COMPETITIVE BEHAVIOR
  2. DEEP DISCOUNT WILL MAKE SOME BUSINESS UN VIABLE AND ERODE THE VALUE OF PRODCTS
  3. ASHOK KUMAR GUPTA CHAIRMAN OF CCI “ WILL CONDUCT A STUDY ON ECOMMERCE TO UNDERSTAND ISSUES AND LOOKING TO TAKE UP MORE CASES SUO MOTO
  4. WILL BALANCE THE INTEREST OF BOTH ONLINE PLATFORM AND SMALL BUSINESS
  • LESS BAGGAGE” AIR INDIA SALE OFFER MAY EXCLUDE WORKING CAPITAL DEBT
  1. THE GOVT IS LIKELY TO SELL AIR INDIA SUCH THAT A POTENTIAL ACQUIRER DOES NOT HAVE TO TAKE ON THE WORKING CAPITAL DEBT,HALVING THE BURDEN AND MAKING MORE ATTRACTIVE PROSPECTS
  2. FAILED IN 2018 TO SELL CARRIER
  3. THE PROPOSAL WILL BE DISCUSSED AT THE FIRST MEETING OF MINISTERIAL GROUP ON AIR INDIA ;S DISINVESTMENT HEADED BY HOME MINISTER AMIT SHAH,OTHER MEMBERS FINANCE MINISTER,COMMERCE AND RAILWAY MINISTER AND CIVIL AVIATION MINISTER HARDEEP SING PURI

  • POST SAUDI ATTACKS INDIA BEGINS CRUDE SUPPLY TALKS WITH RUSSIA
  1. OIL MINISTER DHARMENDRA PRADHAN AND IGOR SACHIN THE CEO OF RUSSIAN ENERGY GIANT ROSENEFT DISCUSS THE GLOBAL SUPPLY AND ONGOING COOPERATION BETWEEN TWO COUNTRIES
  2. A SPECIAL FOCUS WAS ON INCREASING OF CRUDE OIL SUPPLIES FROM RUSSIA TO INDIAN REFINERIES
  3. THE FOCUS WAS MADE ON BILATERAL COOPERATION AND THE ESTABLISHMENT OF AN EFFICIENT ENRGY BRIDGE ON THE VERTICAL CONCEPT
  4. PARTICIPATION OF THE INDIAN PARTNERS IN PRODUCTION PROJECTS AND INVESTMENT IN REFINING AS WELL AS JOINT OPERATIONS ON THE GLOBAL AND REGIONAL MARKETS
  5. ROSNEFIT PLANS TO DOUBLE GUJARAT REFINERY CAPACITY,SPEND 850$ MILLION TO ADD PETCHEM UNIT
  6. RUSSIA IS SECOND LARGEST PRODUCER IN THE WORLD
  7. INDIAN REFINERY CAN USE RUSSIAN CRUDE OIL BUT FREIGHT PROHIBITIVE
  8. REFINERS ARE HOPING A TERM DEAL WITH RUSSIA THAT WILL  ADDRESS FREIGHT ISSUE



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