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Demonetisation hits rural economy, Pakistan violates ceasefire again, Trump invited to testify about Comey: Top stories to look out for

How demonetisation disrupted India’s rural economy, bill proposes Rs 100-crore fine for hurting river Ganga, concerns about Macron’s parliamentary majority in France: Here are the top stories to look out for.

india Updated: Jun 12, 2017 11:34 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Demonetisation,Mandsaur agitation,MP farmers
Farmers throw onions and other vegetables on the road during their protest in Shajapur of Madhya Pradesh on Thursday.(PTI Photo)

Mandsaur agitation: How demonetisation brought MP farmers onto streets

Traders rued their burnt shops, farmers mourned the death of their sons to police bullets; but as four days of violence drew to a close, both sides could only speak of one thing: demonetisation. In Mandsaur, demonetisation has disrupted every aspect of the rural economy – land markets, credit networks, procurement, and crop prices. “Notebandi destroyed the trust between farmer and trader…It finished off our market,” says a soybean farmer.

Read the story here.

Over 15,000 Indian companies made profits in 2015-16 but paid no tax. Here’s why

Tax incentives allowed 15,080 profit-making Indian companies to have effective tax rates of zero, and in some cases less than zero, in 2015-16, according to an IndiaSpend analysis of the latest available national tax data or more specifically a government analysis called the Revenue Impact of Tax Incentives under the Central Tax System. The central government introduced minimum alternate tax (MAT) in the late 1980s to tackle this anomaly, but even MAT has exemptions that appear to have negated its original intent partially: 52,911 companies made profits in 2014-15 and paid no tax, IndiaSpend reported in March 2016.

Read the story here.

Fine of up to Rs 100 cr, 7 yrs jail in offing for hurting ‘living entity’ Ganga

Robbery, cheating, causing grievous hurt and attempt to commit culpable homicide are all punishable by up to seven years in prison. Now add one more crime to that list that may soon attract such a stringent punishment: messing with Ganga. A Centre-appointed panel has drafted a bill, the National River Ganga (Rejuvenation, Protection and Management) Bill 2017, which if passed into a law will also prescribe seven years in jail and a fine of up to Rs. 100 crore for anyone who commits a range of offences on the river, including blocking its flow, quarrying its banks or constructing jetties without permission.

Read the story here.

Sensex plunges 156 points, focus shifts to IIP and inflation data

The Sensex picked up cues from a lacklustre Asia as it stumbled 156 points today in the beginning of the week after investors started to take profit ahead of key IIP and inflation numbers due later in the day. Asian shares traded in the negative territory after polls in the UK threw up a hung Parliament and markets await the results of the first round of France’s parliamentary elections.

Read the story here.

Pakistan continues ceasefire violations, opens fire in Krishna Ghati sector in J-K

Pakistani troops began firing and mortar shelling along the Line of Control (LoC) in Krishna Ghati sector in Poonch district of Jammu and Kashmir on Monday with the Indian army retaliating to the attack. According to ANI, Pakistan Army initiated indiscriminate firing of small arms, automatics and mortars from 0620 hours in Krishna Ghati sector. “Since 1st June, this is ninth ceasefire violation done by Pakistan army and in last 72 hours this is the sixth ceasefire violation,” a defence spokesperson said.

Read the story here.

Macron’s possible majority in France parliament a worry for democracy, say rivals

There will be no room for debate in parliament and democracy will be stifled if French President Emmanuel Macron wins the landslide parliamentary majority pollsters are predicting, his rivals said after Sunday’s first round of voting. “It is neither healthy nor desirable for a president who gathered only 24% of the vote in the first round of the presidentials and who was elected in the second round only by the rejection of the extreme right should benefit from a monopoly of national representation,” said Socialist party leader Jean-Christophe Cambadelis as results flowed in.

Read the story here.

Britain PM Theresa May brings back party rival, aims to unite Tories before Brexit

Prime Minister Theresa May reappointed most of her ministers but brought a Brexit campaigner and party rival into government to try to unite her Conservatives after a disastrous election, days before Brexit talks begin. The 60-year-old leader said she had tapped experience across the “whole of the Conservative Party” when she appointed Michael Gove, a long-serving cabinet minister who had clashed with May when she was home secretary, as environment and agriculture minister. Gove was sacked as justice minister by May last year after his bid to become party leader forced now-foreign minister Boris Johnson from the race, amid accusations of treachery and political backstabbing.

Read the story here.

US President Trump invited to testify about his interactions with Comey

US Senate Democratic Leader Chuck Schumer on Sunday invited US President Donald Trump to testify before the Senate about his interactions with former Director of the Federal Bureau of Investigations (FBI) James Comey. “I’d like to invite the president to testify before the Senate. I think we could work out a way that it could be dignified, public with questions with (Senate Republican) Leader (Mitch) McConnell,” Schumer told CBS News. Schumer said Trump could “clear up that cloud” surrounding his presidency by testifying or publicly releasing tapes he alluded to recording his interactions with Comey.

Read the story here.

First Published: Jun 12, 2017 11:34 IST