In a big boost to Narendra Modi govt, Moody's raises India's rating, hails GST

Agencies
November 17, 2017

New Delhi, Nov 17: Pinning faith in the continued progress on economic front backed by institutional reforms, Moody`s Investor Services lifted the Government of India`s local and foreign currency debt ratings to Baa2 from Baa3.

The rating agency said that the reforms will improve the business climate in the country and raise productivity.

Moody`s also changed its rating outlook to stable from positive, saying that at the Baa2 level the risks to India`s credit profile were broadly balanced.

Moody`s said the recently-introduced goods and services tax (GST), a landmark reform that turned India`s 29 states into a single customs union for the first time, will promote productivity by removing barriers to interstate trade.

"In the meantime, while India`s high debt burden remains a constraint on the country`s credit profile, Moody`s believes that the reforms put in place have reduced the risk of a sharp increase in debt, even in potential downside scenarios," the ratings agency said in a statement.

Moody`s expects India`s real GDP growth to moderate to 6.7 percent in the fiscal year ending in March 2018 from 7.1 percent a year earlier.

Moody`s also raised India`s local currency senior unsecured debt rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.

The government of Prime Minister Narendra Modi eased tax requirements last month for small- and medium-sized companies in response to growing criticism of its economic stewardship.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 13,2024

buldozerjustice.jpg

New Delhi: The Supreme Court took a firm stance on ‘bulldozer justice’ today, affirming that the Executive cannot bypass the Judiciary and that the legal process must not prejudge the guilt of an accused. In a significant judgment, the bench led by Justices BR Gavai and KV Viswanathan set new guidelines for demolition practices, responding to petitions challenging the controversial bulldozer actions taken against individuals accused of crimes.

The rise of this practice, termed 'bulldozer justice,' has seen authorities in various states demolish what they claim to be illegal structures belonging to accused individuals. However, multiple petitions questioned the legality and fairness of this approach, bringing the matter before the court.

Justice Gavai highlighted that owning a home is a cherished goal for many families, and an essential question was whether the Executive should have the authority to strip individuals of their shelter. “In a democracy, the rule of law protects citizens from arbitrary actions by the state. The criminal justice system must not assume guilt,” stated the bench, underscoring that due process is a fundamental right under the Constitution.

On the principle of separation of powers, the bench reinforced that the Judiciary alone holds adjudicatory powers and that the Executive cannot overstep these boundaries. Justice Gavai remarked, “When the state demolishes a home purely because its resident is accused of a crime, it violates the doctrine of separation of powers.”

The court issued a strong warning about accountability, stating that public officials who misuse their power or act arbitrarily must face consequences. Justice Gavai observed that selectively demolishing one property while ignoring similar cases suggests that the aim might be to penalize rather than enforce legality. “For most citizens, a house is the product of years of labor and dreams. Taking it away must be an action of last resort, thoroughly justified,” he said.

In its directives under Article 142 of the Constitution, the Supreme Court established new demolition guidelines. These include:

Mandatory Show-Cause Notice: No demolition should occur without first issuing a show-cause notice. The person served has a minimum of 15 days or the duration stated in local laws to respond.

Transparency of Notice Content: The notice must include specifics about the alleged unauthorized construction, the nature of the violation, and the rationale for demolition.

Hearing and Final Order: Authorities are required to hear the response of the affected individual before issuing a final order. The homeowner will have 15 days to address the issue, with demolition proceeding only if no stay order is obtained from an appellate authority.

Contempt Proceedings: Any breach of these guidelines would lead to contempt proceedings. Officials who disregard these norms will be personally accountable for restitution, with costs deducted from their salaries.

Additionally, the court mandated that all municipal bodies establish digital portals within three months, displaying show-cause notices and final orders on unauthorized structures to ensure public transparency and accountability.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 16,2024

Mangaluru: The Kavoor police in Mangaluru, Karnataka, have arrested three individuals from Kerala in connection with two separate cybercrime cases, including one involving extortion under the guise of a "digital arrest."

City Commissioner of Police Anupam Agrawal reported that one of the arrested individuals, Nisar, a resident of Ernakulam district, posed as a CBI officer. He allegedly threatened the complainant with arrest and extorted Rs 68 lakh. A case has been filed under sections 66 (C) and 66 (D) of the IT Act, and sections 308 (2) and 381 (4) of BNS.

In another case, the Kavoor police arrested two men, Sahil K P of Thiruvannur, Kozhikode, and Muhammad Nashath of Mappila Koyilandy, Kerala, in connection with a share trade fraud. The accused are alleged to have deceived the complainant by promising substantial profits from an investment in the stock market. Trusting the fraudsters, the complainant invested Rs 90 lakh, which was subsequently lost. A case has been registered under sections 66 (C) and 66 (D) of the IT Act, and sections 318 (4) and 3 (5) of BNS.

The accused were arrested in Koyilandi and presented before the court. The operation was carried out under the guidance of City Police Commissioner Anupam Agrawal, led by Mangaluru North Sub-Division ACP Srikanth K, Kavoor Inspector Raghavendra Byndoor, Kavoor PSI Mallikarjuna Biradara, and staff members Ramanna Shetty, Bhuvaneshwari, Rajappa Kashibai, Praveen N, and Malatesh. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 19,2024

mobile.jpg

Gone are the days of chaotic group chats and endless back-and-forth messaging. Say hello to seamless event planning with WhatsApp's new event feature—your ultimate tool for stress-free gatherings!

Why You’ll Love It:

No More Confusion: Create, organize, and share event details in a snap.
Streamlined Coordination: All your event logistics, neatly in one place.
Stay on Track: Friendly reminders for everyone—no excuses for missing out!

Here’s How It Works

Create an Event
Open your group chat, tap the + button, and select Event from the menu.

Add Event Details
Name your event, set the date and time, pin a location, and include a description for extra details.

Send Invites
Tap Send to instantly share the event with your group.

What Happens Next?

Effortless RSVP:
Your friends and family can respond with a single tap:

  • Going
  • Maybe
  • Can’t Go

All-in-One View:
From the date and time to the location and special instructions, every detail is beautifully organized and accessible in one spot.

Gentle Reminders:
WhatsApp sends timely nudges to keep everyone in the loop.

Make Every Occasion Special

Whether it’s a birthday bash, a weekend adventure, a family reunion, or a casual hangout, WhatsApp’s event feature ensures smooth planning and execution.

Pro Tip: Use this tool to turn chaotic planning into pure convenience.

So, what are you waiting for? Open WhatsApp, give it a try, and watch your gatherings transform from stressful to simple! 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.