Image Courtesy : NDTV.com
PB’s twisty take on the top five headlines of the day.
1. Narendra Modi-Shinzo Abe sign landmark civil nuclear deal after 6 years of talks
Getting A Nuclear Deal with Japan is not easy. Japanese products are three times more expensive, that’s why they are investing 12 billion $. if the Indian bullet train is built on Japanese tech, then japan will bag the orders to supply the machines required to build and maintain the trains.
2. Tata Sons asks Tata Steel to hold EGM to oust Cyrus Mistry and Nusli Wadia as director
The Tata Sons statement said the problems that were intended to be solved with writing offs still existed. 72-year-old Wadia backed Mistry in both the Tata Chemicals and Tata Steel board meetings that took place on Thursday and Friday, respectively. It says Mistry cannot take credit for the performance of TCS and JLR, which account for around 50% of the total turnover and probably over 90% of the profits of the whole group, since they were success stories of many years.
3. Government could gain bothways even if public holds on to black money
It would be imprudent on RBI’s part to recognized revenue by extinguishing liability for notes not surrendered. But it does gives it power to withdraws governments guarantee on such notes and liability will continue. Section 26 of RBI Act only gives Government right to declare certain notes ceasing to be legal tender on advice of RBI Board.
4. Amid Scramble For Cash, Rahul Gandhi Stands In Line, Smiles For Selfies
All the onlookers are hating Congress. One cannot understand why the concept of Congress destroyed India all these years. We elected them and if they didn’t perform and BJP did well, why didn’t BJP get elected? We have what we have from previous regimes and not just from BJP. Yes, Narendra Modi claimed victory on corruption/2G scam. Had it not happened we wouldn’t be saying this.
5. Sensex tanks 376 pts on mixed Asian cues
On the global front, Asian markets were mixed as traders awaited clarity on the economic policies of the Trump-led US administration amid speculation that the Dodd-Frank Act financial-sector law may be replaced with pro-growth policies, while increased US expenditure may expand the US budget gap and stoke inflation.