National Security Advisor to visit Kabul today

NEW DELHI: As the timetable for withdrawal of ISAF forces from Afghanistan draws near, the day after is assuming greater significance for India.

Having had an unprecedented run in stabilizing Afghanistan for the past decade, India's role in keeping Afghanistan safe from the Taliban will be crucial not only for the region, but also for New Delhi's own security.

National Security Advisor (NSA) Shivshankar Menon will be in Kabul for a day on Tuesday, where he will meet President Hamid Karzai and other Afghan government officials, and also engage with a cross-section of emerging leaders in that country.

The withdrawal timetable, intersecting with the election schedule in Afghanistan, has made the transition even more complex. Of particular importance to India is who the next generation of leaders in Afghanistan would be. That would be the key in determining whether Afghanistan will fight for a more stable future, or whether it will dissolve into civil war.

India has made massive investment in Afghanistan, mainly in economic and infrastructure sectors. New Delhi is stepping up its security presence in the country, but not fast enough, according to the Afghan government. India's security presence is likely to stop short of sending troops to the country, which could be one of the reasons why Karzai, deeply apprehensive about his survival, is trying to stitch up partnership pacts with his neighbours.

In a recent trilateral summit with Pakistan and the UK, Karzai promised to ink a similar agreement with Pakistan within six months.

What will Karzai's role be after the elections? India is trying to preserve and promote the central role for the Afghan government. This holds the key, because the Western countries — in their rush to secure some kind of reconciliation — have ended up making the Afghan government one of the factions, locked in bloody feuds, in the war-torn nation. That has only heightened Karzai's feeling of insecurity.

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IT industry seeks MAT reduction to 5% in Union Budget

HYDERABAD: The IT and IT-enabled services industry has sought the reduction in minimum alternate tax (MAT) to 5% in the Budget 2013-14 for all IT companies operating in SEZs.

The finance minister is slated to announce on Thursday the budget proposals for the next fiscal.

"With the introduction of MAT for SEZ units, it has become very difficult for the IT companies in India (specifically for SME) sector to operate competitively and in a profitable manner," ITsAP (the IT and ITES Industry Association of AP) said in a statement.

"This has reduced the employment generation rate and further FDI investment in India. Hence the MAT should be rolled back or decreased to 5%," it said.

Under the present IT laws, business losses can be forwarded only for a minimum of 10 years and the same should be allowed to carry forward without any limitation.

In the current economic downturn globally, recouping the losses in 10 years may not be possible and many countries are allowing losses without any limitation to period, the IT body requested.

ITsAP also requested the FM to give an opportunity to set -off the taxes payable against refund due to the assessee which will increase the liquidity and save time in following up for the refunds.

On Service Tax issues, the ITsAP said all export companies in IT/ITES are entitled for refund paid on the input services.

"However, the same is not a reality as of today barring a very few cases. A series of meetings with Nasscom and other agencies with the Central Excise and Service Tax officers is not improving the refund process. Further, many small companies are not applying for the refund considering the hassles being created in the chain of refund claim," the industry body said.

BVR Mohan Reddy, Founder and Chairman of Infotech Enterprises Ltd, said for the software industry, withdrawing the MAT on SEZs, initiating a new SEZ policy to further improve IT exports, implementing a policy for R&D in software industry and promoting Tier II/III towns for inclusive growth will help accelerate growth in the software industry ( IT Industry).

As SME sector is the backbone for the industry and employs 59 million people, it can be a growth driver for future. And hence a special package for the SME sector will help sustainable growth, Reddy said.

The tax on SEZ was introduced in the Union Budget 2011-12. The SEZ players said the benefits offered in the SEZ Act 2005, provided a wide range of incentives to investors in SEZs including exemption from MAT and 100 per cent income tax exemption on export income.

According to a recent survey by research firm Ipsos, companies attributed exemption from tax as the key reason for investment in SEZs, which stood nullified with the imposition of the MAT.

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Jailed INLD leader Ajay Chautala faces probe for public speech via jail phone

NEW DELHI: Tihar authorities have ordered an inquiry against jailed Indian National Lok Dal leader Ajay Chautala for allegedly addressing a public rally in Haryana through a telephone call made from the prison, an official said on Monday.

"All the inmates are allowed to talk to their family every day for five minutes through phone. Ajay Chautala telephoned his son on February 19-20 who called his supporters. Chautala then addressed them through speaker phone," director general of prisons Vimla Mehra told IANS.

"An inquiry was set up Saturday. We are looking at every angle. The report might be submitted by today (Monday) or tomorrow (Tuesday)," said Mehra.

"Suitable action will be taken if the allegation against Chautala is found true," added Mehra.

Another jail official said Chautala addressed a rally in Sonipat district February 20 for five minutes when his son Dushyant patched him up through the speaker phone.

Chautala used the occasion to update the crowd about the health of his jailed father and former chief minister of Haryana Om Prakash Chautala and inquired about the well-being of the villagers, the official said.

The father and son are in jail after being indicted by a Delhi court for their involvement in irregular appointment of teachers in 2000.

The trial court last month sentenced both the convicts and eight others to 10 years in jail while one convict was sentenced to five years and 45 others were handed out four-year jail terms.

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Bihar asks Centre for helicopter to fight Maoists

PATNA: Bihar government has requested the Centre for a helicopter to carry out operations against Maoists, water resources minister Vijay Kumar Chaudhary told the assembly today.

The state government has written to the Centre recently and would do so in the future, requesting it to provide a helicopter to deal with the Maoist insurgency, Chaudhary said while replying to a short notice question by BJP MLA Avanish Kumar Singh.

Regretting the delay in requisitioning a helicopter, he said the state government had written to the Centre in 2011 seeking guidelines for availability of one to Bihar.

Since the Centre had not framed guidelines and conditions required for hiring a helicopter for anti-Maoist operations, the state government has sought one from neighbouring Jharkhand, he said.

Although Jharkhand has been cooperating with Bihar as far as availability of helicopter was concerned, it was imperative that the state government has one at its disposal for anti-Maoist campaigns, the minister said.

Apart from Bihar, the Maoist-affected states of Odisha, Chhatisgarh, Jharkhand and Andhra Pradesh have helicopters for such use, the minister added.

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Over dozen corporates, PSUs queue up for banking licences

The author has posted comments on this articlePTI | Feb 24, 2013, 11.10AM IST

NEW DELHI: More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, will apply to the Reserve Bank for licence to open banks.

While announcing comprehensive guidelines for new bank licences two days ago, the RBI said interested entities can file their applications by July 1.

Other entities keen to enter the banking space are IFCI, Shriram Group, Religare, ADA Group, Srei Infra, India Infoline Ltd and IndiaBulls Ltd, Reliance Industries Ltd and Tata Group, which are speculated to be mulling entry into the banking space, have remained tight-lipped about their plans.

Power Finance Corporation (PFC) chairman and managing director Satnam Singh has said the company would seek approval for entering into banking space in the next board meeting.

"We qualify in both the categories...either we can set up a bank or convert ourselves into a bank," he said.

Larsen & Toubro spokesperson said the group would be interested in applying for new bank licence.

Commenting on the norms, non-banking financial entity Shriram Capital Chairman Arun Duggal said RBI has come up with comprehensive guidelines.

"We remain interested in foraying into the banking space and promoting financial inclusion," Duggal said, adding that the Group has required capital to enter in the banking sector.

As per the new norms, entities with a minimum track record of 10 years would be eligible for licence after clearance from sector regulators, enforcement, investigative agencies such as I-T department, CBI and ED.

The minimum paid-up capital for setting up a bank will be Rs 500 crore. The cap on the foreign investment, including FDI/FII and NRI, has been set at 49 per cent.

An official in the Finance Ministry, which controls majority stake in term lender IFCI, said the entity would also like to be considered for new bank licence.

IFCI lost out on bagging licence in 1993 when two other term lender ICICI and IDBI were permitted to open banks.

The company will discuss about foraying into the banking sector in the board meeting, IFCI CEO and Managing Director Atul K Rai said.

Aditya Birla Group CEO Ajay Srinivasan Chief Executive of Aditya Birla Group's Financial Services said: "Our group remains committed to meeting financial needs of its target customers. We intend to apply for a banking licence."

CEO of Reliance Capital Sam Ghosh said: "We will be interested in applying for a banking licence."

When asked whether IndiaBulls will apply for a banking licence, its group director Ajit Mittal said: "We have an open mind. We will take a view. The Board will decide in due course of time."

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Low intensity earthquake in parts of Rajasthan, no reports of damage

JAIPUR: A low intensity earthquake measuring 4.1 on the Richter Scale was felt in parts of Rajasthan on Sunday.

The epicentre was Tonk in the eastern part of the state. The tremor was felt in Jaipur and nearby region in the morning at 6.27am.

However, there is no report of loss from anywhere, according to the state police control room.

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Veteran communist leader Baldev Bakshi passes away at 90

CHANDIGARH: A revolutionary and veteran communist leader, BaldevBakshi, 90, passed away at PGI, Chandigarh on Sunday after short illness.

Baldev Bakhshi was one among the founder leaders of communist movement in joint Punjab after Independence.

He was arrested many times for participating in the movements of peasants and agriculture tenants (mujharas) in Punjab and Haryana. Bakshi was kept in custody in Lahore's Shahi Qila for two months in the early forties.

After partition, Bakshi had moved to Sirsa in Haryana (then joint Punjab) from Sekhupura town of Pakisthan in 1947.

Here, he started focusing on building the communist movement and organizational structure of Communist Party of India (CPI). Later, he became deputy secretary of CPI's Haryana unit. He remained active member of CPI till the last.

Bakshi has left behind two sons, two daughters and his wife, Sushila.

Bakshi's elder son, Ashwani Bakshi is well known lawyer in Punjab and Haryana high court while his younger son, Manoj Bakshi stays at Sirsa.

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Forty-five arrested in Spain after anti-austerity protest

MADRID: Spanish police say they arrested 45 people, including nine minors, in street violence after a large anti-austerity protest outside parliament. Dozens sustained minor injuries.

Tens of thousands of people marched to parliament to demonstrate against tax hikes, spending cuts, sky-high unemployment and alleged corruption. As the protest ended late Saturday, groups of youths threw bar chairs into a road and burned garbage containers.

Police later found four firebombs in a backpack abandoned on a street. The Interior Ministry says officers then seized 22 firecrackers, five flares and a stick from two minors near Madrid's main railway station.

The ministry also said in a statement Sunday that 40 people, including 12 police officers, received minor injuries in the clashes. Two of the officers received hospital treatment.

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LeT has sent threat letter claiming responsibility for blast: Andhra BJP

HYDERABAD: Andhra Pradesh BJP chief G Kishan Reddy on Sunday said he has received a threat letter purportedly written by Lashkar-e-Taiba (LeT) in which it claimed responsibility for the Dilsukhnagar bomb blast.

He received the letter by post on Saturday written in Urdu and English, he claimed at a press conference here.

He, however, refused to give a copy of the letter saying he has handed it over to Abids police station.

In the letter, the LeT stated that its next target is Begam Bazar, Reddy claimed.

Begum Bazar is another crowded wholesale market in the city.

When contacted, Abids police said, "We have received a letter from Kishan Reddy today (Sunday) and it is being verified."

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Hyderabad bomb blasts: Andhra Pradesh Police register case

HYDERABAD: The Andhra Pradesh Police has registered a case on the twin blasts that ripped through a crowded market in Dilsukhnagar area of the state capital, leaving 16 dead and 120 injured.

The case was registered at Saroornagar police station under relevant sections of IPC on charges of sedition, promoting enmity between two groups on grounds of religion, voluntarily causing hurt by using dangerous weapons, conspiracy and also under Explosives Act, a senior police official said.

Some of the sections of IPC mentioned include 324, 326, 307, 302, 124-A, 153-A, 201 read with 120-B, he said.

Meanwhile, it has come to light that Hyderabad city police commissioner Anurag Sharma had offered prayers at the famous Saibaba Temple in Dilshuknagar area, which is a few hundred yards away from the blast site, minutes before two blasts took place.

"The commissioner visited the temple at 6.30pm. As a security precaution, there were more police than usual," a police official said.

The first blast took place at 6.58pm on Thursday. Devotees throng the temple on Thursdays, which is considered special for Saibaba, to offer prayers making the area highly crowded.

The famous Saibaba temple at Dilsukhnagar witnessed a blast in 2002 in which two persons were killed and several others injured.Another senior official said two CCTV cameras installed on traffic posts at Dilsukhnagar bus stand.

However, it was found that one was not functioning. When asked about the possibility of capturing blast images by the camera, he said it may not be possible as they were focused towards traffic.

He, however, said they are in the process of going through the footage.

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