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Growth forecast for 2017: Between 6.75 per cent and 7.5 per cent

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Arun Jaitley ahead of the annual budget presentation in parliament last year

Demonetisation casts a long shadow

By Parsa Venkateshwar Rao Jr

According to the Economic Survey, the India economy is estimated to grow between 6.75 per cent and 7.5 per cent.

The survey taking the cue from the International Monetary Fund (IMF) forecast for world economic growth from 3.1 per cent in 2016 to 3.1 per cent in 2017, talks of Indian exports growing by 1 per cent, which would push up the GDP.

There is concern over private domestic consumption because global crude oil prices are expected to grow by 10 to 15 per cent in 2017. However, consumption is expected to grow as a result of “catch-up after the demonetisation-induced reduction” and “cheaper borrowing costs”. The spending on “housing and consumer durables and semi-durables could rise smartly”.

But there are concerns and anxieties as well. The survey says that “the extent to which the effects of demonetisation could linger into next year” remains a factor which could impede growth “if uncertainty remains on policy response”. The other factor concern is the effect of currency shortages on supplies of agricultural products like milk, sugar, potatoes and onions. The survey notes ominously, “Vigilance is essential to prevent other agricultural products becoming in 2017-18 what pulses was in 2015-16.”

The other issue is the impact of rising global crude oil prices. The survey says, “…even if the prices rose merely to $60-65/ barrel, the Indian economy would nonetheless be affected by way of reduced consumption; less room for public investment; and lower corporate margins, further denting private investment. The scope for monetary easing might also narrow, if higher oil prices stoked inflationary pressure.”

The interesting and important factor that could affect growth rates would be the rolling out of GST. The survey says, “The transition to the GST is so complicated from an administrative and technological perspective, that revenue collection will take some time to reach full potential.”

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Rahul Gandhi disqualified as Lok Sabha MP after conviction in 2019 defamation case

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Congress leader Rahul Gandhi has been disqualified from his membership as a Member of Parliament (MP) from the Lok Sabha after his conviction and subsequent two-year prison sentence in a 2019 defamation case by a court in Gujarat’s Surat city yesterday.

This is a breaking story and more details will follow.

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Amritpal Singh may be headed to Delhi: Reports

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Fugitive Khalistani leader Amritpal Singh may be headed for Delhi, a day after his last known location was traced to Haryana, reports quoting sources have claimed.

An NDTV report quoting sources said the security has been heightened across the national capital as its suspected that the notorious ‘Waris Punjab De’ chief may be headed to Delhi after last being spotted in Shahabad in Haryana’s Kurukshetra.

On Sunday, Amritpal Singh and his associate Papalpreet Singh, had stayed at Shahabad home of a woman identified as Baljeet Kaur, who was arrested yesterday, Punjab Police said.

A video with a time stamp of Monday, doing the rounds on the internet yesterday showed the fugitive Sikh preacher dressed in a white shirt and blue jeans, trying to hide his face with an umbrella as he was departing from the Baljeet Kaur’s house in Shahabad.

On Thursday, the Punjab Police arrested Amritpal Singh’s former gunman and notorious associate, Tejinder Singh aka Gorkha Baba.

A report quoted DSP Payal Harsimrat Singh of the Punjab Police as saying that Tejinder Singh, a resident of Punjab’s Mangewal village, was nabbed by the Khanna police.

DSP Harsimrat said Tejinder, who was a gunman for Amritpal Singh for a long period and often lived with the Waris Punjab De chief, is also involved in the Ajnala case. The officer said that Tejinder, also known as Gorkha Baba, was very active on social media and often posts pictures of himself brandishing different weapons due to which he’s wanted in a separate case registered against him at Malaud police station.

The official further said that Tejinder has been booked under sections 107/151 of the Indian Penal Code (IPC) and two other aides who accompanied him, have also been taken into custody and are being questioned.

A nation-wide crackdown was launched to nab Amritpal Singh after last month, the dreaded Khalistani leader and his supporters armed with swords and guns, stormed a police station in Ajnala on the outskirts of Amritsar city and clashed with police for the release of one of his aides Lovepreet Singh.

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Woman gang-raped, boyfriend assaulted in Virar near Mumbai

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Two men allegedly gang-raped a woman and thrashed her boyfriend near a temple in Virar area, near Mumbai, in Maharashtra’s Palghar district, officials said on Thursday.

According to the police, the incident happened at around 5 pm on Wednesday in the forest area near the Jivdani temple in Virar East where the 20-year-old victim and her boyfriend were chatting and sitting alone.

The two accused, identified as 25-year-old Dheeraj Soni and 24-year-old Yash Shinde—both residents of Sainath Nagar locality of Virar, a distant Mumbai suburb—spotted the couple sitting on a hillock near Jivdani temple and tried to extort money from the young lovers after they saw them hugging, said an official.

The official said that the victim’s boyfriend told them he didn’t have any cash on him and instead transferred Rs 500 to the accused men via internet banking, however the men demanded more money and started to beat up the man, adding they also smashed an empty beer bottle on his head.

The accused then stripped the boyfriend naked, tied him to a tree and raped the girl in front of him who could do nothing but helplessly watch the horrific ordeal unfold in front of his eyes.

An official from the Virar police station said the injured boyfriend could not stand up to the attackers as he watched the accused duo take turns raping his girlfriend.

He said that after the brutal rape, the accused men fled the scene with man’s clothes and his mobile father while the petrified rape survivor also fled the spot after she saw her violators departing, leaving her unconscious boyfriend behind.

The injured boyfriend was spotted by locals after he regained consciousness around 6.30 pm and came out of the secluded forest looking for something to cover his naked body. The residents informed the police, who arrived at the spot and took him to a hospital for treatment after which his statement was recorded.

Police team then arrived at his girlfriend’s home where she narrated the horrific ordeal and based on her statement, a case of gang rape, unnatural sex, assault, extortion, threatening against the two accused under sections 376(d), 324, 377, 384, 504, 506 and 34 of the Indian Penal Code (IPC), was registered against the accused who were then arrested within two hours of the incident, an official said.

Further investigation is underway, he added.

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