Junior Digest

Nepal : Madhesis reject constitutional amendment

Kathmandu : Nepals agitating Madhesis today rejected a constitutional amendment passed by the Parliament to resolve the ongoing political crisis and blockade of key trade border points with India, calling it “incomplete” as it did not address their concerns over redrawing federal boundaries.

The amendment, endorsed with a two-thirds majority yesterday, addresses two key demands of the Madhesis – proportionate representation to the minority community largely of Indian-origin and seat allocation in the Parliament on the basis of population.

The lawmakers of the agitating parties had boycotted the voting, saying the amendment was “incomplete”, as it fell short of addressing their concerns, including redrawing of federal boundaries.

Rajendra Shrestha, co-chair of the Sanghiya Samajbadi Forum Nepal – one of the constituents of the Samyukta Loktantrik Madhesi Morcha (SLMM), said that the proposal by Nepali Congress leaders Minendra Rijal and Farmullah Mansoor was progressive than the original bill that was filed in Parliament on December 15.

As many as 24 proposals were filed by more than 100 lawmakers of different parties, seeking to amend the bill, which was endorsed in the House after incorporating the proposal registered by Rijal and Mansoor.

The agitating Madhes-based parties said the revision proposal, in line with which the Constitution Amendment Bill was endorsed, was “incomplete” despite being progressive, The Kathmandu Post reported.

Morcha leaders said that they would make further comments after thoroughly “studying the text”.

“But it will be too early to make any comment, as we are yet to go through the amendment proposal,” Shrestha said, adding that Morchas protests would continue unless “there is an agreement on redrawing federal boundaries”.

Madhesis, who are inhabitants of the Terai region, are opposed to the new Constitution that divides their ancestral homeland under the seven-province structure and have led an ongoing blockade of key border trade points with India.

The agitating community that shares strong cultural and family bonds with India is demanding demarcation of provinces, fixing of electoral constituencies on the basis of population and proportional representation, and have launched a protest for months that has claimed at least 55 lives.

@Agency news.

India to probe dumping of chemical by other nations

New Delhi : India has started a probe into alleged dumping of a chemical, used as an antiseptic and antibacterial agent, from Pakistan, Bangladesh and other countries.

Acting on a joint complaint by National Peroxide Ltd and state-owned Hindustan Organic Chemicals, the Directorate General of Anti-Dumping and Allied Duties (DGAD) has started a probe into imports of ‘Hydrogen Peroxide’ originating in or exported from Bangladesh, Taiwan, Korea, Indonesia, Pakistan and Thailand.

The move is aimed at protecting domestic players in the automobile sector against cheap imports.

In a notification, the DGAD said there was sufficient prima facie evidence of the ‘injury’ being suffered by the domestic industry caused by dumped imports from the countries to “justify” initiation of an anti-dumping investigation.

“….the Authority (DGAD) hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry…to determine the existence, degree and effect of alleged dumping and to recommend the amount of anti-dumping duty, which if levied, would be adequate to remove the ‘injury’ to the domestic industry,” it said.

After the probe, DGAD, if needed, would recommend to the Finance Ministry for imposition of the duty.

Hydrogen peroxide has strong oxidising properties and is therefore a powerful bleaching agent that has found use as a disinfectant, as an oxidiser, and in rocketry and in bipropellant systems.

It also finds application in odour control, corrosion control, disinfection/ bio-control, paper and pulp bleaching, therapeutic uses as an antiseptic and antibacterial agent, among others.

The anti-dumping duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters resorting to dumping of goods at below-cost rates.

Commercially, the product is produced and sold in 35 per cent, 50 per cent, 60 per cent and 70 per cent concentration.

Applicants, the DGAD said have submitted that 90 per cent concentration of the product is used by ISRO and the product is not produced by the domestic industry and hence the scope of product under consideration should be restricted and defined as ‘Hydrogen Peroxide (H2O2) below 90 per cent concentration’.

The DGAD said the request of the applicant for restricting the product to 90 per cent concentration could be examined during the course of the investigation and considered at the stage of final finding.

@Agency news

U N : India to be fastest growing economy at 7.3% in ’16

New Delhi : India will be the world’s fastest growing large economy at 7.3 per cent in 2016, improving further to 7.5 per cent in the following year, a United Nations world economy report said today.

“India’s economy, which accounts for over 70 per cent of South Asia’s GDP, is projected to grow by 7.3 per cent in 2016 and 7.5 per cent in 2017, slightly up from an estimated 7.2 per cent in 2015.”

India will be the fastest-growing large economy in the world, said World Economic Situation and Prospects 2016, which was released by the UN here.

The report said South Asia is expected to be the world’s fastest-growing region in 2016 and 2017.

“As in other countries of the region, the macroeconomic environment in India has improved, helped by the sharp decline in the prices of oil, metals and food.

“Consumer and investor confidence has risen even as India’s government faces difficulties in implementing its wide-ranging reform agenda and some economic indicators, such as industrial production, remain volatile”, said the report.

UN report sees majority of the countries in South Asia to see accelerated growth over the next two years on the back of strong private consumption as the main driver of growth, offsetting relatively tight fiscal policies and sluggish exports.

Talking about India, Nagesh Kumar, Economist and Head, UN-ESCAP South and South-West Asia, said using fiscal policy, it can speed up investment in education and infrastructure which will not only boost the growth rate but will also make growth for future.

“Spending on infrastructure, health and education is very low compared to other nations such as China in the region. So there is room to expand. And for that you need fiscal space and you need to look at how to increase revenues.

“The decline in oil prices of course provide some room to offset the burden of fuel bill. So this is the time for India to recheck fiscal efforts and raise revenues and do more spending on some of the social sectors,” Kumar said.

Reiterating Finance Minister Arun Jaitley’s recent statement that India will boost spending on infrastructure and social segment, he said there is a consistency in the broad role of the fiscal policy by the government. .

@ Agency report.

Junior Digest

Nepal : Madhesis reject constitutional amendment

India to probe dumping of chemical by other nations

U N : India to be fastest growing economy at 7.3% in ’16

Environment Ministry Nod For Rs 53,000 Crore KG Basin Project

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AIIMS report : Sunanda Pushkar died of poisoning

NEW DELHI :An All India Institute of Medical Sciences ( AIIMS) medical board report dated January 1, 2016 said that Sunanda Pushkar died of poisoning. The report has been handed over to the SIT.