ANALYSIS OF THE HINDU AND ECONOMIC TIMES DATED 23RD,SEPTEMBER ,2019

• NEWS PAPER ANALYSIS
  THE HINDU AND ECONOMIC TIMES DATED 23 RD,2019
• DR SHASHI AGGARWAL
• HOWDY MODI WOULD ELEVATE INDIA –US TIES : INDIAN -AMERICANS ET(1)
  PM GETS RAPTUROUS RECEPTION AT HOWDY MODI EVENT IN THE US ( THE HINDU ) (1)

1. INDIAN –AMERICAN ARE ENTHUSIASTIC ABOUT PM MODI AND US PRESIDENT DONALD TRUMP JOINTLY ADDRESSING A MEGA HOWDY RALLY EVENT THEY BELIEVE WOULD TAKE THE BILATERAL TIES TO NEW LEVEL..
2. MR MODI SAID THE TIME HAS COME FOR A DEFINITIVE,ALL OUT FIGHT AGAINST TERRORISM AND ASSURED THE AUDIENCE OF 50,000 INDIAN –AMEICAN GATHERED AT HOUSTON TEXAS THAT US PRESIDENT WOULD COMPLETELY BACK HIS STRUGGLE.
3. DEMOCRATIC LEADER AND SENATE MAJORITY LEADER STENY HOYER SPOKE FIRST AT THE EVENT FLANKED BY PM MODI. MAKING A SIGNIFICANT REFERENCE TO BOTH MAHATMA GANDHI AND PRIME MINISTER JAWAHAR LAL NEHRU AND MR HOYER PRAISED PM NEHRU FOR HIS VISION OF INDIA AS A SECULAR DEMOCRACY WHERE RESPECT FOR PLURALISM AND HUMAN RIGHTS SAFEGUARD ALL.
4. EVENT ORGANIZED BY TEXAS INDIA FORUM WITH TAG LINE SHARED DREAMS,BRIGHT FUTURE
5. CULTURAL PROGRMME PRECEDED PRIME MINISTERS MODI’S ADDRESS SHOWCASING INDIAN-AMERICAN ARTISTES
6. THE 90 MINUTES MUSIC,DANCE AND MULTIMEDIA SHOW FEATURED CLOSE TO 400 ARTIST AND COMMUNITY MEMBERS
7. 27 GROUPS PERFORMED ,SHOWCASING THE DIVERSITY IN THE INDIAN AMERICAN COMMUNITY
8. THE SHOW THREW LIGHT ON THE UNSUNG HEROES IN THE INDIAN AMERICAN COMMUNITY.
9. MAKING HIS DEBUT AS A POET PM MODI RECITED A TWO LINE COUPLET DESPITE CHALLENGES INDIA WAS AIMING AT A TRANSFORMATION INSTEAD OF INTERNATIONAL GAIN.
10. PM MODI HOPED TO TALK ON SUBSTANTIAL MATTERS INCLUDING TRADE WITH TRUMP
11. TRUMP HAD DESCRIBED HIM AS MASTER NEGOTIATOR AND PM MODI US PRESIDENT AS THE MASTER OF THE ART OF DEAL
12. BOTH LEADER DESCRIBED THE EVENT AS HISTORY IN THE MAKING

• PETRONET TO INVEST $2.5 BILLION IN TEELURIAN FOR US LNG ( ET PAGE 2)

1. PM MODI MET 17 GLOBAL ENERGY COMPANIES IN HOUSTON AND TWO SIDES SIGNED MOU FOR INDIAN INVESTMENT OF DOLLAR 2.5 BILLION LNG SUPPLY FROM US A FOR FOUR DECADES
2. CEO OF 17 GLOBAL ENERGY COMPANIES PARTICIPATED IN ROUNDTABLE ADDRESS BY THE PM
3. THE COMBINED NET WORTH OF THE COMPANIES PRESENT IN THE MEETING WAS $ 1 TRILLION WITH A PRESENCE OF 150 COUNTRIES
4. ALL COMPANIES HAVE SOME ENGAGEMENT AND PRESENCE WITH IN AND IN INDIA
5. SIGNING OF MOU BETWEEN US NATURAL GAS COMPANY TELLURIAN INC AND INDIA’S PETRONENT LNG LIMITED AND FINA LISE THE DEAL BY MARCH 31.2020
6. THE OBJECTIVE OF THE MEETING WAS TO DEEPEN OUR ENERGY COOPERATION AS PART OF OUR STRATEGIC ENERGY PARTNERSHIP
7. THEY PRAISED THE GOVT EFFORTS TOWARDS EASE OF DOING BUSINESS,STEPS TAKEN TOWARDS  DEREGULATIONS IN THE SECTOR ,SUPPORTED REFORMS AND POLICIES AND WERE BEAT ON INDIAN ECONOMICS
8. THE MEETING WAS FRUITFUL AND PRODUCTIVE. SPECIFIC SUGGESTIONS MADE BY CEO THAT INDIA HAVING A LOT OF COAL,ESPECIALLY LOW QUALITY COAL.THEY HAVE TECHNOLOGIES THAT CAN CONVERT COAL TO SYNTHETIC GAS WHICH CAN BE USED FOR MAKING CHEMICAL AND REDUCE INDIA’S DEPENDENCE ON IMPORTED OIL.

• PM MODI ASSURES KASHMIRI PANDITS OF NEW KASHMIR IN A SPECIAL INTERACTION

1. SPECIAL INTERACTION WITH 17 MEMBER DELEGATION OF KASHMIR PANDITS
2. ASSURED THEM OF BUILDING A NEW KASHMIR WHICH WOULD BE FOR EVERY ONE
3. KASHMIR PANDITS SUPPORT FOR THE STEPS INDIAN GOVERNMENT WILL TAKE FOR THE PROGRESS OF INDIA
4. THANKED PM AND 7,00,000 COMMUNITY MEMBERS WERE INDEBTED TO MODI GOVERNMENT

• NO SLOW DOWN IN GOVT SPENDING ASSURES FM
• FM HAS RULED OUT ANY CUTBACK IN EXPENDITURE ALLAYING APPREHENSIONS SPARKED BY A HEFTY CORPORATE TAX RATE CUT

1. GOVERNMENT WOULD INSTEAD PUSH SPENDING AS THE COUNTRY LOOKS TO STAVE OFF THE ECONOMIC SLOW DOWN THAT PULLED DOWN GROWTH IN THE FIRST QUARTER OF THIS FINANCIAL YEAR
2. MINISTRIES TO SPEND. EXPENDITURE SECRETARY IS MEETING SECRETARY FROM OTHER DEPARTMENT EVERY WEEK TO PUSH SPENDING BY DEPARTMENT AND PUBLIC SECTOR UNITS
3. RATE CUTS HAD LED TO SPECULATION THAT THE GOVT MIGHT RESORT TO CUT IN SPENDING TO MEET THE BUDGETED DEFICIT TARGET OF 3.3 OF GDP BY 2020
4. TAKE STOCK OF THE FISCAL SITUATION DURING THE EXERCISE ON REVISED ESTIMATES
5. NO SLOW DOWN IN GOVT SPENDING ASSURES FM
6. HIGH TAX RATES WERE ONE OF THE KEY IMPEDIMENTS CITED BY FOREIGN INVESTORS
7. THE GOVERNMENT WOULD CONTINUE TO FOCUS ON DISINVESTMENT AS PLANNED OUT
8. 23 COMPANIES HAD BEEN APPROVED BY THE CABINET COMMITTEE ON ECONOMIC AFFAIRS

• THE ET (1)
  RBI LIKELY TO TEMPER RATES CUTS

1. MAY REDUCE REPO RATE CUT BY JUST 25 BPS N OCTOBER AGAINST THE 25-40 BPS HOPED
2. GAURAV KAPUR (CHIEF ECONOMIST AT AXIS BANK): FISCAL STIMULUS WOULD ALSO HELP THE MONETARY POLICY TO DO THE HEAVY LIFTING TO THE COUNTER THE SLOWDOWN THROUGH LOWER INTEREST RATE
3. BADRISH KULHALL HEAD ( FIXED INCOME) HDFC : IN SLOW DOWN ENVIRONMENT EXPANSIONARY FISCAL POLICY IS MORE EFFECTIVE IN STIMULATING THE GROWTH
4. FURTHER SPACE FOR MONETARY POLICY ACTION NOW LOOKS LIMITED DURING THE REST OF THE FINANCIAL YEAR

• THE EDIT PAGE (10)
  GET STRATEGIC,NOT TACTICAL

1. PUZZLING THING ABOUT PM : HE HAS PROVED TO BE MASTER STRATEGIST ON THE DOMESTIC POLITICAL AND INTERNATIONAL RELATIONS FRONTS BUT CONTINUES TO MAKE INCREMENTAL TWEEKS ON THE ECONOMIC FRONTS
2. AFTER REDUCING THE GOVT’S FIRST ANNUAL BUDGET SPEECH INTO LARGELY POLITICAL SPEECH AND IS NOW GETTING  VARIOUS MINISTRIES LED BY FM TO MAKE PIECEMEAL ANNOUNCEMENT WEEK AFTER WEEK
3. SET A MEDIUM TERM GOALS OF INCREASING THE NATIONAL INCOME TO DOLLAR 5 TRILLION ECONOMY AND REQUIRES MEDIUM AND LONG TERM APPROACH
4. MOST POLICY ANNOUNCEMENT MADE OVER THE PAST THREE WEEKS BY THE FM HAVE BEEN WELCOMED THE NECESSARY RIGHT STEPS IN THE RIGHT DIRECTION
5. THE QUESTION REMAINS WHY NONE OF THE MEASURES FORMED  A PART OF JULY BUDGET
6. THE REASON THAT GOVT HAD LITTLE TIME AFTER THE ELECTIONS WOULD BE OKAY TO SATISFY THE LOYALISTS.
7. SENIOR OFFICIALS FORMULATING POLICY IN THE MINISTRY OF FIN ACNE AND PMO COULD HAVE EASILY KEPT A STRATEGY
8. BY CHOOSING TO IGNORE THE BAD NEWS ABOUT THE ECONOMY AND PRETENDING THAT INDIA WAS WELL ON ITS WAY TO BECOME $ 5 TRILLION ECONOMY
9. PM MODI SUCCESSFULLY DIVERTED ATTENTION AWAY FROM THE ECONOMY TO NATIONAL SECURITY ISSUES AND WON A HANDSOME ELECTION
10. BUT ECONOMY NEEDED A URGENT ATTENTION AND THE JULY BUDGET WAS THE BEST OPPORTUNITY
11. LOOKING BACK OVER THE PAST COUPLE OF MONTHS ONE GETS THE IMPRESSION THAT IN JULY THE GOVT’S ECONOMIC POLICY MAKERS WERE LIVING IN A WORLD FAR REMOVED FROM ONE OF THEY HAVE NOW ENTERED
12. MORE STRATEGIC APPROACH TO MACRO ECONOMIC POLICY RATHER THAN PIECEMEAL

• KASHMIR VALLEY’S IT HUBS GASPS AS NET SHUT DOWN CONTINUES ( THE HINDU PAGE 1)

1. INTERNET WAS SNAPPED AT THE IT HUB AFTER MEHBOOBA MUFTI’S TWEETS ON THE AFTERNOON OF AUGUST 5 HOURS AFTER CONNECTIVITY WAS SUSPENDED ACROSS THE STATE
2. THE FUTURE OF THE IT SECTOR IN KASHMIR VALLEY IS IN JEOPARDY BECAUSE OF THE PROLONGED INTERNET SHUT DOWN
3. AROUND 22,000 PERSONS ARE EMPLOYED IN AROUND 500 IT FIRMS
4. THE SPRAWLING INFORMATION TECHNOLOGY HUB AT RANGERTH ON THE OUTSKIRTS OF SRI NANAGER DESERTED LOO
5. SOME FIRMS HAD TO LAY OF 60% STAFF
6. NO WORK NO PAY
7. KASHMIR VALLEY’S IT HUBS GASPS AS NET SHUT DOWN CONTINUES ( THE HINDU PAGE
8. THE INTERNET CONNECTIONS WAS NEVER SUSPENDED IN THE IT HUB EVEN DURING THE AGITATION AND UNREST IN 2008,2010 AND 2016
9. THE DEPARTMENT OF TELECOMMUNICATION HAS STRICT COMPLIANCE NORMS FOR IT COMPANIES. THEY HAVE TO MAINTAIN A LOG BOOK OF ALL URLS VISITED BY THEM AND THEIR CLIENTS FOR SIX MONTHS

• 37,000 CRORE TAX SAVING FOR TOP FIRMS ( THE HINDU  PAGE 1)

1. CRISIL RESEARCH IN IMPACT NOTE CALLED TAX S(HAVING ): THE CENTRE’S MOVE TO CUT TAX RATES FROM 30% TO 22% THROUGH AN ORDINANCE WILL YIELD TAX SAVING AT LEAST 37.000 CRORE FOR THE TOP 1,000 LISTED COMPANIES
2. THESE FIRM ACCOUNT FOR THE OVER A FOURTH OF 1.45 LACS CRORE TAX REVENUE LOSS ESTIMATED BY THE GOVT
3. TAX SAVING COULD BE HIGHER
4. OIL GAS.FINANCIAL SERVICES AND CONSUMER FACING BUSINESS WILL BENEFIT THE MOST FROM THE TAX CUTS
5. WHILE EXPORT AND IT AND PHARMACEUTICAL MAY NOT GAIN