INDIA, CHINA DISENGAGE IN GOGRA; ALL TEMPORARY STRUCTURES DISMANTLED

After nearly 15 months of face-off, the Indian and Chinese armies have completed the disengagement process and restored the pre-standoff ground position in Gogra in eastern Ladakh, in a significant forward movement towards restoration of peace and tranquillity in the region.

Announcing the development, the Indian Army said on Friday that the disengagement process was carried out on August 4 and 5 and all temporary structures as well as other allied infrastructure created by both sides have been dismantled and mutually verified subsequently.

The disengagement in the area around Gogra or Patrolling Point-17A (PP-17A) came over five months after the two sides withdrew their troops and weapons from the North and South banks of Pangong Lake areas.

The Army said the disengagement process at PP-17A was carried out in line with the outcome of the 12th round of military talks that had taken place on July 31 at Chushul-Moldo meeting point in eastern Ladakh.

People familiar with the development said a buffer zone has been created and no patrolling will take place in the area, adding the focus in the next round of military talks will be on the Hot Springs area.

In the statement, the Army said the troops of both sides are now in their respective permanent bases. "With this one more sensitive area of face-off has been resolved. Both sides have expressed commitment to take the talks forward and resolve the remaining issues along the LAC in the Western Sector," the Army said.

NO DEBATE, LS PASSES BILL TO SCRAP RETRO TAXES

The Lok Sabha yesterday passed without any discussion Taxation Laws (Amendment) Bill, 2021, that aims to nullify the relevant retrospective tax clauses introduced in 2012 to bring past indirect transfer of Indian assets under the ambit of taxation amid Opposition protests on Pegasus snooping row and three Central farm laws. “The Bill is being brought to keep the word given by former Finance Minister Arun Jaitley under the leadership of Prime Minister Narendra Modi, keeping the commitment of BJP and that we don’t believe in retrospective collection of tax. We are fulfilling that word,” said Finance Minister Nirmala Sitharaman while moving the legislation for consideration and passage amid the din.

She said there were 17 such cases prior to 2012 for which the law was retrospectively applied. “Of these, two went to the court and the claims could not be pursued further. As promised by then FM Jaitley, in principle we don’t believe in this. However, we couldn’t act on this even in 2014 because there were two cases going on,” she said.

According to Sitharaman, like former FM Jaitley said, the government waited for them to reach a logical conclusion, which was arrived in September 2020 in one case and in December 2020 in another.

The House also passed in a jiffy the Central Universities (Amendment) Bill, 2021.

VACCINE COVERAGE CROSSES 50 CR DOSES

On March 1, the Centre opened up vaccination for the most vulnerable groups: people above the age of 60 years, and those above 45 years with associated comorbidities.

Just over six months after it launched the Covid-19 vaccination drive, India on Friday completed administering a cumulative 50 crore doses.

“India’s fight against COVID-19 receives a strong impetus. Vaccination numbers cross the 50 crore mark. We hope to build on these numbers and ensure our citizens are vaccinated under #SabkoVaccineMuftVaccine movement,” Prime Minister Narendra Modi tweeted.

KEY COVID NUMBERS

Current Active Cases Countrywide: 4,06,314

New Cases in last 24 hours: 38,688

Recovered in last 24 hours: 40,271

Change in no. of Active cases in last 24 hours: -2,199

No. of deaths in last 24 hours (Total Covid Deaths so far): 616 (4,27,401)

Daily Tests (Thursday): 16,40,287

Daily Positivity Rate (Proportion of Positives among total Tested): 2.7%

Percentage of Population Vaccinated (At Least One Dose / Two Doses): 28.9% / 8.2%

RBI KEEPS KEY RATE UNCHANGED, RETAINS GDP PROJECTION AT 9.5%

Based on an assessment of the evolving domestic and global macroeconomic and financial conditions and the outlook, the RBI decided to keep the policy interest rate unchanged at 4 per cent.

Setting out the rationale underlying the decision, RBI Governor Shaktikanta Das said, “The economy is recovering from the setback of the second wave, while the monsoon has revived after a brief hiatus and kharif sowing is gaining momentum. Some high frequency indicators are also looking up again during June-July.”

“Our expectation is that activity is likely to gather pace with progressive upscaling of vaccinations, continued large policy support, buoyant exports and benign monetary and financial conditions,” Das said, adding, “Today, we are in a much better position than in June.”

The Monetary Policy Committee of the RBI has retained its GDP growth projection of 9.5 per cent for 21-22.

The RBI panel however raised the projection for retail inflation to 5.7 per cent in the financial year 2021-22 from 5.1 per cent earlier, quite close to its upper tolerance limit in the 2-6 per cent band. It also underlined that the recovery “remains uneven across sectors and needs to be supported by all policymakers”.

INTERNATIONAL AFFAIRS

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WON’T RECOGNISE TALIBAN GOVT IF IT TAKES POWER BY FORCE, SAY UNSC ENVOYS

The entire democratic bloc at the UN Security Council on Thursday spoke in one voice against recognising a Taliban government that comes to power by force even as the militant group’s depredations continued in Afghanistan.

At the first UNSC discussion, being held under India’s presidency, the Afghan envoy said the Taliban continue to enjoy safe havens in Pakistan. The envoys of UK, US, France, Ireland, Norway and Estonia called upon the Taliban to engage meaningfully and spoke against providing aid to the government that does not respect human rights.

France called on the Taliban to end violence and said they must be held accountable for their crimes and there can be no cloak of impunity surrounding violations of international human rights. The sentiment in the ongoing discussion was that a negotiated settlement should guarantee inclusive governance and human rights protections, especially for women.

The Taliban yesterday shot dead the head of the Afghan government’s media information centre, at a mosque in the capital, days after warning they would target senior administration officials in retaliation for increased air strikes.

The Taliban also closed a key border crossing with Pakistan on Friday, saying no one would be allowed through until Islamabad dropped its visa requirements for Afghans.

G7 BLAME IRAN FOR TANKER ATTACK

Foreign ministers from the Group of Seven wealthy economies said Iran was threatening international peace and security and that all available evidence showed it was behind an attack on the Mercer Street tanker last week. “All available evidence clearly points to Iran. There is no justification for this attack,” said the statement, issued by current G7 chair, Britain. The vessel was a Japanese-owned petroleum product tanker managed by Israeli-owned Zodiac Maritime. Tehran has denied any involvement in the suspected drone attack. In a separate statement, the US military said explosives experts from the Ronald Reagan aircraft carrier — which deployed to assist the Mercer Street — concluded the drone was produced in Iran. It said the explosives experts were able to recover several pieces of a drone which it said were nearly identical to previously-collected samples of Iranian attack drones.

THE REST

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JUDGES RECEIVING THREATS BUT IB, CBI NOT HELPING, SAYS SC

The Supreme Court on Friday pulled up the CBI and the Intelligence Bureau for not properly responding to complaints with regard to harassment of judges who often receive threats in cases involving gangsters.

“There are several cases in the country which involve gangsters and where high-profile people are accused. So judges are threatened mentally through messages. Complaints were made, but the CBI has done nothing,” a Bench led by Chief Justice of India NV Ramana said.

“It’s a new trend in this country. If an adverse order is passed, the judiciary is maligned,” he added. The comments came during the hearing of a suo motu PIL proceedings initiated by the CJI on judges’ safety in the wake of alleged murder of a judge in Dhanbad, Jharkhand last month.

MODI ASKS INDIAN MISSIONS ABROAD TO MAKE BIG PUSH FOR ‘BRAND INDIA’

Prime Minister Narendra Modi Friday asked the heads of Indian missions abroad, especially those in developed countries, to make a bigger push for merchandise exports in a bid to augment India’s manufacturing sector.

In his address to all the heads of missions, and other trade and commerce stakeholders, Modi pushed for greater integration between missions abroad and Indian exporters and manufacturers.

The message came a month after the Ministry of Commerce and Industry set an export target of $400 billion for the current fiscal year. During April-July this year, exports had risen to $130.56 billion against $75.10 billion in the same period last year.

To this end, Modi said the government has taken a “big decision” for exporters under which they will get a boost of about Rs 88,000 crore in the form of insurance cover.

KHEL RATNA RENAMED AFTER HOCKEY GREAT DHYAN CHAND

The government on Friday renamed the Rajiv Gandhi Khel Ratna Award, the highest sporting honour of India, as Major Dhyan Chand Khel Ratna Award. Prime Minister Narendra Modi said the move was based on numerous requests he had received from across the nation.

"I have been getting many requests from citizens across India to name the Khel Ratna Award after Major Dhyan Chand. I thank them for their views. Respecting their sentiment, the Khel Ratna Award will hereby be called the Major Dhyan Chand Khel Ratna Award!" he tweeted with the hashtag #JaiHind.

The decision of the government has started a political slugfest. The Congress welcomed the move but insisted that if the government has made a start, it should take it to a logical conclusion. Congress communications chief Randeep Singh Surjewala said, “We sincerely hope now that a new beginning has been made. ModiJi will announce, changing the name of Narendra Modi Stadium and Arun Jaitley Stadium and name it after legendary sportspersons, like Sardar Milkha Singh, Sunil Gavaskar, Sachin Tendulkar, Kapil Dev, Leander Paes, P.T. Usha, Mary Kom, Abhinav Bindra and many, many others.”

He further added that the government has reduced the sports budget by Rs 230 crore in an Olympic year.

MARITAL RAPE A GOOD GROUND TO CLAIM DIVORCE, SAYS KERALA HC

Marital rape is a good ground to claim divorce, the Kerala High Court has said, adding that the law not recognising marital rape under penal law does not inhibit the court from recognising the same as a form of cruelty to grant divorce.

Rejecting the appeal of a husband against divorce, a division bench of the Kerala High Court said that treating a wife’s body as something that is owed to the husband and committing sexual acts against her will is nothing but marital rape. “Right to respect for his or her physical and mental integrity encompass bodily integrity, any disrespect or violation of bodily integrity is a violation of individual autonomy,” said the bench in its order.

The court also observed that the need of the hour is that marriage and divorce must come under secular law. A bench of Justices A Muhamed Mustaque and Dr Kauser Edappagath said there cannot be any difficulty in having a common code of law for all communities at least for marriage and divorce.

SC UPHOLDS AMAZON CLAIM AGAINST FUTURE-RELIANCE DEAL

The Supreme Court on Friday ruled in favour of US-based e-commerce giant Amazon by holding that Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail, was valid and enforceable under Indian laws.

A bench of Justices R F Nariman also dealt with the larger question and as a proposition of law, held that an award of an EA of a foreign country is enforceable under the Indian Arbitration and Conciliation Act.

FRL had argued that an EA is not an arbitrator under the Indian law as the term does not find any mention in the statute here.

Pronouncing the verdict, Justice Nariman said the top court has agreed with the findings of the single-judge of the Delhi high court which had found the EA award in favour of the US firm to be enforceable in India.

Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the EA award was valid and enforceable.

Amazon had told the bench that the Biyanis of Future Group had negotiated with it to enter into certain agreements and is bound by the EA award restraining FRL from going ahead with Reliance Retail merger.

‘DON’T TERRORISE US BY FILING BULKY PETITIONS’: SC TELLS LAWYERS

Frowning upon filing of bulky petitions and documents running into hundreds and thousands of pages, the Supreme Court on Friday said such voluminous materials were submitted to “terrorise” the judges.

“Yesterday, we had to arrange a lorry to carry these materials. What is the purpose of filing 51 volumes? We cannot keep on reading them. We cannot hear such a matter. You want to terrorise us by filing so many volumes,” a Bench led by Chief Justice of India NV Ramana said.

The Bench, which also included Justice Surya Kant, was hearing petitions against a Bombay High Court verdict with regard to the validity of a tariff order passed by the TRAI last year.

The purpose of filing 51 volumes seems to be that the judges do not read them, it noted and posted the matter for hearing on August 18 after asking the advocates in the case to file a “convenient compilation” of documents to enable the hearing to proceed.

OLYMPICS: HOW INDIA'S ATHLETES FARED ON FRIDAY, AUGUST 6

A medal proved elusive, but India’s women's hockey team earned the plaudits after a superb showing before going down 3-4 to Rio Games gold medallists Great Britain in the bronze medal play-off and finishing fourth at the Tokyo Olympics on Friday.

Star wrestler Bajrang Punia beat Kyrgyzstan’s Ernazar Akmataliev 3-3 (after high scoring move, a two-pointer take down) in opening round; beat Iran’s Morteza Cheka Ghiasi 2-1 in quarter-finals; lost to Azerbaijan’s Haji Aliyev 5-12 in semi-finals of men's 65kg Freestyle event; will play for the bronze medal on Saturday.

23-year-old Aditi Ashok raised hopes of a medal in golf after placing sole second on the leaderboard, carding a three-under 68 in the third round. She fired five birdies and two bogeys on the day. She was three-under after picking up shots on the fourth, sixth and seventh holes before bogeys on ninth and 11th pulled her back. She made amends with birdies on the 15th and 17th to keep herself in the hunt.

ATHLETICS

Priyanka Goswami and Bhawna Jat finished 17th and 32nd respectively in the women's 20km race walk event.

Gurpreet Singh did not finish the men's 50km race walk event.

India’s team of Muhammed Anas Yahiya, Tom Noah Nirmal, Rajiv Arokia and Amoj Jacob finished fourth in Heat 2 and ninth overall in men's 4x400 relay race; failed to qualify for final even as they made an Asian record clocking 3:00.25s

WRESTLING

Seema Bisla lost to Tunisia’s Sarra Hamdi 1-3 in first round of women's 50kg Freestyle event.

TRENT BRIDGE TEST, DAY 3: RAHUL, JADEJA GIVE INDIA AN UPPER HAND

Half-centuries from Ravindra Jadeja and KL Rahul helped India take a sizeable first-innings lead of 95 runs before rain brought an early end to play on Day 3 of the first Test against England, in Nottingham, on Friday.

England were 25 for no loss in their second innings when play ended early on the third day because of rain.

India were bowled out for 278 in their first innings, as K L Rahul top-scored for the visitors with a well-made 84, while all-rounder Ravindra Jadeja struck an enterprising 56 off 86 balls. Resuming Day 3 on 125/4, India added 153 valuable runs to their first innings score in testing conditions. India posted 278 in reply to England's first innings total of 183

For England, medium pacer Ollie Robinson emerged as the most successful bowler as he bagged an impressive 5/85, leading the team out in the presence of legends such as James Anderson, who finished with figures of 4/54 from 23 overs and in the process become the third highest wicket-taker in the format.

India's usually-fragile tail also made useful contribution with the bat in the low-scoring contest at Trent Bridge.

BANGLADESH SCORE HISTORIC T20 SERIES WIN OVER AUSTRALIA

Bangladesh secured a series win against Australia for the first time in any format after a 10-run victory in Friday's Twenty20 international in Dhaka gave them an unassailable 3-0 lead in the five-match series.

Mustafizur Rahman led an extraordinary performance from the hosts' bowling attack and conceded only nine runs in his four overs.

Earlier, the visitors restricted Bangladesh to 127-9.

Bangladesh won the series opener on Tuesday by 23 runs, claiming their maiden T20 victory over Australia, and the second game on Wednesday by five wickets. The fourth match will be played on Saturday.

INDICATORS

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US$-Rs. 74.00 GBP-Rs. 102.85, Euro-Rs. 87.26, UAE Dhm-Rs.20.14, Can$-Rs. 59.05, Aus$- Rs. 54.57GBP 0.71 /US$, Euro 0.84 /US$, Jap.Yen 110.01 /US$, Aus$ 1.35 /US$, Sing 1.35 /US$, Bang Taka 83.31 /US$, Can$ 1.25 /US$, Mal Ring 4.21 /US$,

Pak Re 163.28 /US$, Phil Peso 50.44 /US$, Russian Rouble 73.23 /US$, NZ$ 1.42 /US$, Thai Baht 33.34 /US$, Ukraine Hryvnia 26.64 /US$

Bitcoin - USD 43,208

Dollar Index 92.78 Brent Crude 70.70 BDI 3,371

Gold world Spot Price USD/aoz 1,763 India (Rs. per gm 24k/22k) 4,670 / 4,570, Silver (Rs. Per KG) 71,700

THOUGHT FOR THE DAY

All that is human must retrograde if it do not advance. - Edward Gibbon

OFF TRACK

A Hollywood director was shooting a big budget movie on location in the Sahara desert. One day an old tribesman came up to him and said, "Tomorrow rain."

And sure enough the next day it rained.

A few days later, the same old man appeared on set again, sidled up to the director and said, "Tomorrow storm."

And sure enough, the following day there was a fearful storm which brought a temporary halt to filming.

The director was hugely impressed by the old man’s weather predictions and told team to put the old man on the payroll. However, after a number of other successful forecasts, the Indian didn't show for three weeks. Then the director sent for him.

The director said, "I have to shoot a big scene tomorrow and I'm relying on you. What is the weather going to be like?"

The old Indian shrugged his shoulders, "Don't know. Radio broken."