SITHARAMAN BLAMES PUTIN’S WAR, UPA OIL BONDS FOR FUEL PRICE HIKE

The Budget will help keep the focus on sustained growth recovery but the Ukraine war poses a fresh set of challenges, from disruption in supply chains to rising oil prices, said Union Finance Minister Nirmala Sitharaman in Rajya Sabha Tuesday.

“….this Finance Bill has been presented at a time when the revival from the pandemic days is still an ongoing job and we are focusing on a sustained growth recovery, with a predictable taxation regime and ensuring newer challenges before us. At the time of the Budget presentation, I had not taken on board the Omicron (wave) and now we are also facing the situation of a full-blown war in Ukraine which is not some war in some corner of the world but it seems to be having an impact on all countries like the way the pandemic had but this impact is disruption to very many supplies,” Sitharaman said.

Underlining that the government will not take taxation as a route for mobilising resources, she said. “If we just go back to the realities — it holds good for the Budget of last year and the Budget of this year — the reflection in the Finance Bill is that we have not taken taxation as a route for mobilising resources.”

On oil prices, Sitharaman said the supply disruption has been for a couple of weeks now and the government is responding to it. “(The Opposition is saying) the war has been raging for a long time. You have not raised it (oil prices) at that time; now you are raising it. It is absolutely untrue. Disruption, a resultant increase in the global price of oil, and also disruption to supplies are all happening since a couple of weeks ago and we are responding to them. Various steps have been taken by the Government,” Sitharaman said.

“…But let me remind this House that taxpayers of today are paying for the subsidy which was dished out to consumers more than a decade ago in the name of oil bonds and they will continue to pay for the next five years as the redemption of bonds continues till 2026,” she added. “So that burden is also on us now for the benefits given apparently through the oil bonds raised ten years ago. So, I would like to put that on record.”

ISRAELI PM NAFTALI BENNETT TESTS COVID POSITIVE, PUTS OFF INDIA VISIT

Israeli Prime Minister Naftali Bennett, who contracted Covid-19, has postponed his maiden trip to India planned for next week, his office said on Tuesday. Bennett (50) was scheduled to visit India from April 3 to 5 to mark the 30th anniversary of the establishment of diplomatic relations between the two countries.

Besides, Israel Defence Minister Benjamin Gantz, who was also due to fly to India in the coming days, announced that he was postponing his trip. Gantz met Bennett on Sunday morning.

Prime Minister Narendra Modi had invited the duo to mark the 30th anniversary of diplomatic relations between New Delhi and Jerusalem.

ASSAM, MEGHALAYA RESOLVE BORDER DISPUTE AT 6 LOCATIONS

The Chief Ministers of Assam and Meghalaya yesterday signed a memorandum of understanding (MoU) to resolve the long-pending border dispute between the two states in the presence of Union Home Minister Amit Shah, who termed it “historic”.

The MoU was signed by Assam CM Himanta Biswa Sarma and Meghalaya CM Conrad Kongkal Sangma to resolve six of the 12 sore border points between the two states. According to the MoU signed for the 36.79 sq km land, Assam will keep 18.51 sq km and give 18.28 sq km to Meghalaya.

On January 31, the CMs of Assam and Meghalaya had submitted a draft resolution to the Shah for examination and consideration by the MHA.

Speaking during the event at the North Block, Shah congratulated the two CMs and the people of the two states. “I am happy that both parties agreed to resolve the 50-year-old dispute. It is historic. This agreement is in line with the vision of PM Narendra Modi, who wants to make the North-East prosperous and secure,” he said. Shah said though the two states have agreed to resolve six of the 12 points of border dispute, “it is heartening to note that in terms of geographical spread it covers 70 per cent of the area”. He went on to add that the rest of the points of difference would be resolved soon.

SRI LANKA'S ECONOMIC REFUGEES BEGIN TO TRICKLE INTO TN

The ripples of Sri Lanka’s economic crisis are now being felt on Indian shores. On Tuesday, 16 Sri Lankan nationals, all Tamils from the Jaffna and Mannar regions in the north, reached Tamil Nadu in two batches. The first set of six refugees, including three children, were stranded near an island off the coast of Rameswaram and rescued by Coast Guard. The second group of ten reached late in the night.

The refugees are said to be fleeing unemployment and shortage of food in Sri Lanka. And reports from the northern Tamil-dominated regions of Lanka indicate that this may just be the beginning. Intelligence officers in Tamil Nadu have obtained information that “around 2,000 refugees” are likely to arrive in the coming weeks.

COVID DASHBOARD – INDIA

As of 0800 IST / March 30

from mohfw.gov.in ,

New Cases on Tuesday 1,233

Active Cases 14,704 (-674)

Total Deaths (Deaths Yesterday) 5,21,101 (15)

INTERNATIONAL AFFAIRS

======================

BIDEN OPEN TO MEETING PUTIN DESPITE CALLING HIM ‘BUTCHER’

US President Joe Biden indicated yesterday that he is open to meeting President Vladimir Putin for talks despite calling him a “war criminal” and a “butcher” and calling for his ouster. “The question is: Is there something to meet on that would justify him being able to end this war and be able to rebuild Ukraine. That’s the issue,” Biden said in a press conference, amid signs of a breakthrough in talks between Russian and Ukrainian officials in Turkey.

Pressed by reporters wanting to know whether or not he would be willing to meet with President Putin again, Biden said, “It depends on what he wants to talk about. ”

Russia responded positively to the signal, with Kremlin spokesman Dmitry Peskov saying, “One way or another, sooner or later, we will have to speak about questions of strategic stability and security and so on. ”

Biden, however, laid down markers for any prospective talks, reminding correspondents of his last meeting with Putin in Geneva in 2021 where the Russian leader had identified two objectives: Making sure Ukraine never becomes part of Nato and making sure there are no long-range missiles in Ukraine. “I said, ‘We can deal with the second one easily, but we can’t close the door on the first’. Because when we talk about missiles, we want to talk about what’s also on the Russian border heading towards Europe. Do both,” he recalled, explaining that since that meeting Putin’s “demand list. . . has escalated significantly. ”

Biden had a conference call with French President Emmanuel Macron, German Chancellor Olaf Scholz, British PM Boris Johnson, and Italian PM Mario Draghi to discuss what the White House said was “latest developments” on the Russia-Ukraine front, including progress made in talks between Kyiv and Moscow.

Russia has announced that it will “radically reduce” military activity outside Kyiv and Chernihiv after “meaningful” negotiations, days after signalling it was changing its military objectives after completing the initial phase of its operation. Ukraine is reported to have agreed to maintain a neutral status. There is even talk of a meeting between Putin and Ukraine’s leader Voldymyr Zelensky to seal a deal.

While Biden maintained that his remarks on Putin and calling for his ouster would not complicate any talks with Russia, the Kremlin said “Personal insults cannot but leave their mark on relations between heads of state”, although it did not rule out a meeting.

PUTIN TO MACRON: PEOPLE IN MARIUPOL MUST LAY DOWN ARMS FOR AID TO BE ALLOWED

The conditions for carrying out a humanitarian operation sought by France to help citizens in the besieged Ukrainian port of Mariupol are not met “at this stage”, President Emmanuel Macron’s office said after the French leader spoke by telephone with his Russian counterpart Vladimir Putin.

According to the Kremlin, Putin told Macron that Ukrainian “nationalists” in Mariupol would have to “lay down their arms” before Russian forces allow any emergency humanitarian assistance.

It was the ninth telephone call between the two leaders since Russia invaded its neighbour on February 24, as Macron presses to keep a diplomatic line open in hopes of ending the conflict.

VOTING ON NO-TRUST MOTION AGAINST PAK PM TO BE HELD ON APRIL 3

The voting on the no-confidence motion against Pakistan PM Imran Khan will be held on April 3, interior minister Sheikh Rashid said on Tuesday. “There will be a debate on the no-confidence motion on March 31, followed by voting on April 3,” he said, adding that Khan would emerge victorious. He predicted that all estranged allies would come back to support the government headed by Khan.

PM Imran Khan is ready to share a letter that he claimed during the PTI’s March 27 rally contained evidence of a “foreign-funded conspiracy” to topple his government with Chief Justice of Pakistan Umar Ata Bandial, federal minister Asad Umar said on Tuesday. Addressing a press conference alongside information minister Fawad Chaudhry, Umar said he had seen the letter himself, adding that if someone had doubts, the “PM is ready... he thought we can share with the chief justice”.

THE REST

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MAMATA WRITES TO OPPN LEADERS, CALLS FOR UNITED FIGHT AGAINST BJP

Trinamool Congress supremo Mamata Banerjee has written to all non-BJP Chief Ministers and opposition parties, including the Congress which her party had been attacking recently, calling on all “progressive forces” to come together and put up a united fight against the “oppressive BJP regime”.

Following his meeting with Union Home Minister Amit Shah on Monday, West Bengal Governor Jagdeep Dhankhar on Tuesday invited CM Mamata Banerjee for an interaction to discuss “worsening” law and order in the state. In his letter, Dhankhar claimed that the state of governance had been further strained by the Birbhum killings.

Expressing “concern” over the BJP’s use of “Central agencies such as the ED, CBI, Central Vigilance Commission and Income Tax Department to target, harass and corner political opponents across the country”, Banerjee called upon opposition leaders to hold a meeting “to deliberate on the way forward”.

While Mamata’s nephew and political successor Abhishek Banerjee and his wife Rujira are facing ED investigation in a coal pilferage scam, the ED also recently attached assets of a company owned by the brother-in-law of Maharashtra CM Uddhav Thackeray. Heavyweight opposition politicians facing heat from Central agencies also include former PM HD Deve Gowda, whose wife has been recently given notice by the Income Tax Department. Banerjee wrote that even though she was having the highest regard for judiciary, due to certain biased political interferences people were not getting justice.

IN MAHARASHTRA, MVA, BJP SLUG IT OUT VIA STATE, CENTRAL AGENCIES

On March 22, the Enforcement Directorate (ED) attached properties worth Rs 6.45 crore of a company owned by Shridhar Patankar, brother-in-law of Maharashtra Chief Minister and Shiv Sena president, Uddhav Thackeray.

Three days later, the ED attached properties worth Rs 11.35 crore of Sena MLA Pratap Sarnaik in a case of Rs 5,600 crore fraud at the National Spot Exchange Limited (NSEL).

The ED’s move came after the Sena-ruled BMC issued a notice to Opposition BJP leader Mohit Kamboj Bhartiya for “inspection” of his residential building in Mumbai.

Soon after the ED’s 22 March move, NCP chief Sharad Pawar called it a “gross abuse of central agencies to settle political scores”. Sena leader and its most vocal face, Sanjay Raut said, “If the Opposition feels that by pressuring the main pillar (Uddhav) of MVA you can get the government to fall and implement President’s rule, then all I can say is – wake up.”

PM HANDS OVER 5.21 L HOUSES TO PMAY BENEFICIARIES IN MADHYA PRADESH

Prime Minister Narendra Modi yesterday handed over 5.21 lakh houses to beneficiaries of the Pradhan Mantri Awas Yojana (PMAY)-Gramin in Madhya Pradesh, which goes to polls next year, virtually participating in the “Grah Pravesham”, the ceremony to hand over houses to owners.

Addressing the programme, PM Modi said his government had given topmost priority to providing houses to poor. So far, 2.5 crore houses have been constructed under the PMAY scheme in the country, including two crore in rural areas.

Under the Nal-Jal scheme, six crore families were provided with tap water connections in their houses across the country, the PM added.

Over four crore fake ration cards had been cancelled since 2014 to prevent theft of foodgrains worth crores meant for the poor, he said, adding that his government followed the policy to ensure that the last man in the queue gets the benefit of government schemes.

REGRET NOT BEING ALLOWED TO ENSURE RATION AT DOORSTEP: ARVIND KEJRIWAL

Delhi Chief Minister Arvind Kejriwal said Monday that he regrets not being allowed to implement the doorstep delivery of ration scheme in Delhi.

Kejriwal, whose government in Delhi has been at near-constant loggerheads with the Centre, said its government in Punjab will implement the schemes that were not being allowed in Delhi.

“I became the CM but there’s a regret that I have. I haven’t been allowed to implement this (doorstep delivery of ration) scheme in Delhi. For the last four years, I have pleaded with the Centre but they refuse to allow it. Our shoes have worn off making rounds of their offices to get this done, but they have their own vested interests. But then, God has been very kind. When there were roadblocks on one path, he opened another for us. We’ve implemented the scheme in Punjab… The Centre has only put roadblocks in our way. They held up the Mohalla clinic project for two years. Then they stopped the CCTV project. We were forced to protest inside the L-G house to get the file (for CCTVs) cleared.”

Addressing the house during the ongoing budget session of the Delhi Assembly, he said AAP’s ideology was love for the country, staunch honesty and humanity.

GOVT APPEALS AGAINST DISABILITY PENSION GIVEN TO ARMY OFFICERS DRAWS SC IRE

The Supreme Court has expressed displeasure over the Centre filing appeals against disability pension given to Army officers, even in cases where the legal position is settled.

The Supreme Court on Tuesday issued notice to the Karnataka Government on a petition challenging the permission given to Kodavas, a martial community, to carry and possess firearms without licence under the Arms Act. TNS

“We must observe and express our displeasure at the manner in which the appellants have been filing appeals against grant of disability pensions, even where the legal issue is settled,” a Bench led by Justice Sanjiv Khanna said. It dismissed the Centre’s appeal against an order of the Armed Forces Tribunal (AFT) in a case of disability pension of a retired Lt Colonel.

The AFT (Chandigarh Bench) had in 2018 allowed his claim for rounding off the disability element of his pension to the extent of 50 per cent as against 20 per cent in view of the Supreme Court’s 2014 verdict in the Union of India versus Ram Avtar in which it was held that the benefit of rounding off disability element was available not just to officers invalidated out of service, but also to officers who superannuated after completion of tenure.

“The dismissal of these matters will be taken note of by high courts as well as tribunals in granting appropriate relief to the pensioners before them, if any, who are getting or are entitled to the disability pension,” the top court had noted in its 2014 verdict.

IL&FS RESOLVES RS 55,000-CR DEBT; UDAY KOTAK TO EXIT AS TENURE ENDS

Infrastructure Leasing & Financial Services Ltd (IL&FS) has addressed debt resolution of Rs 55,000 crore, or nearly 55 per cent of the debt, after the group became a defaulter, and the government superseded its board in October 2018.

The tenure of Uday Kotak as non-executive Chairman will end on April 2 and the Ministry of Corporate Affairs has appointed CS Rajan Chairman and MD of IL&FS for six months with effect from April 3. The IL&FS group retained its overall resolution estimate at Rs 61,000 crore, representing 62 per cent of overall — fund-based and non-fund based — debt of over Rs 99,000 crore as of October 2018.

“IL&FS is a case study for how we should think about the future of structure, regulation and governance and how we built a resolution framework in areas that are non-man’s land,” Kotak said.

“The debt addressed till date (Rs 55,000 crore) represents over 90 per cent of the overall estimated resolution value. Resolution of remaining Rs 6,000 crore debt will move into FY23,” IL&FS MD CS Rajan said.

IPL MATCH 5: RAJ ROYALS CRUSH SRH

A new-look and re-energised Rajasthan Royals attacked from the outset and inflicted on Sunrisers Hyderabad a 61-run hammering to begin their campaign in IPL-15 on a rousing note, in Pune, on Tuesday.

RR got the better of SRH in every department after skipper Sanju Samson led from the front with a scintillating 27-ball 55 to power his team to an imposing 210 for six.

Smarting from the pounding in the first half of their opening fixture, SRH failed to pose any serious threat to RR after a disastrous start to their innings, which saw them slip to 9/3 and then 29/4.

In the end, Kane Williamson's (2) team was stopped at 149 for seven, with the captain himself enduring a bad day in office.

SRH wouldn't have got even that many had it not been for Aiden Markram's unbeaten 57 and Washington Sundar's 14-ball 40, the latter somewhat making up with the willow after his forgettable outing with the ball.

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THOUGHT FOR THE DAY

Three minutes thought would suffice to find this out; but thought is irksome and three minutes is a long time. - A.E. Houseman

OFF TRACK

Fifteen minutes after the Titanic sank, Arthur and Jon find themselves hugging a piece of wreckage from the great ship. The water is freezing, it's dark and lonely all around.

"Oh well," says Art, "It could have been worse."

"Worse? How could it have been worse?" screams Jon.

"We could have bought return tickets."