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Morning Brief: South Asia Satellite Launch Set; New Real Estate Act; ‘Moon Village’ Planned
Prime Minister Narendra Modi. (GettyImages)
Good Morning, Swarajya Readers! Here's What You Need To Know Today.
South Asia Satellite Launch On 5 May: Prime Minister Narendra Modi announced on Sunday that the South Asia Satellite will be launched on 5 May, describing it as India’s ‘priceless gift’ to its neighbours as part of the sabka sath, sabka vikas concept. Seven out of eight South Asian Association for Regional Cooperation countries are a part of the project which Pakistan refused to join as it did not want the ‘gift’ from India. The concept of sabka sath, sabka vikas is not confined to India but is relevant globally too, especially in the context of the neighbourhood, he said.
Fuel Prices To Be Revised Daily From 1 May: Petrol and diesel prices will be revised on a daily basis from today in select towns in sync with international rates, much like it happens in most advanced markets. State-owned fuel retailers, which own more than 95 per cent of the nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities from 1 May and gradually extend it to other parts of the country. A pilot for daily revision of petrol and diesel prices will be first implemented in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh, Indian Oil Corporation said in a statement.
Real Estate Act Comes Into Effect Today: The much-awaited Real Estate Act comes into force on Monday. The Real Estate (Regulation and Development) Act promises to bring in the much-desired transparency, accountability and efficiency in real estate sector. The government has described the implementation of the act as the beginning of an era where the consumer is king. However, only 13 states and Union Territories have so far notified rules under the act, which Union Minister Venkaiah Naidu said, will enable only regulation of the sector and not “strangulation”.
Government May Cut Gold Import Duty Ahead Of GST: The government may reduce import duty on gold before deciding on the levy on the yellow metal under the goods and services tax (GST) regime. Policy think tank NITI Aayog is in talks with the Finance Ministry for reduction of import duty on gold. The Aayog is of the view that an import duty as high as 10 per cent at present is not only a hurdle in jewellery exports, but has also given rise to gold smuggling. Sources said the reduction in import duty may come ahead of fixing of tax rate on gold under the proposed GST to keep a tab on its prices.
Patanjali Vows To Drive Out MNCs In Five Years: Patanjali Ayurveda will steal the march over multinational firms manufacturing consumer products, yoga guru Baba Ramdev said. Comparing them to the East India Company that had entered the country with a purpose to “loot”, Ramdev, promoter of Patanjali Ayurveda, said that he aims to make India free from the multi-national companies (MNCs). “Patanjali agle panch varshon mein in videshi kampaniyon ko moksh de degi (Patanjali will finish the MNCs up from the Indian market in next five years),” he said.
Pakistan Will Support Kashmiris, Says General Bajwa: Pakistan's Army chief General Qamar Javed Bajwa said his country would continue to support the “political struggle” of the Kashmiris for the right of "self-determination". Bajwa said this when he visited the Line of Control on Sunday and toured the areas in the Haji Pir sector. He said he was briefed by the Pakistani troops about the alleged "ceasefire violation" by the Indian troops and the state of preparedness of the army to face any aggression. He accused India of "state-sponsored" terrorism in Kashmir. India has repeatedly rejected Pakistan's allegations of rights violations in Kashmir.
China-Europe Planning ‘Moon Village’: In a first, China and Europe are planning to set up “moon village”. The plan was first revealed by China’s space agency secretary general Tian Yulong. European Space Agency (ESA) spokesperson Pal Hvistendahl confirmed the discussions. Johann-Dietrich Worner, the director general of the 22-member ESA, has described its proposed “moon village” as a potential international launching pad for future missions to Mars and a chance to develop space tourism or even lunar mining.
Hafiz Saeed To Remain Under House Arrest For 90 Days More: The Punjab government extended on Sunday the house arrest period of Jamaat-ud Dawa (JuD) chief Hafiz Muhammad Saeed and four of his aides for another 90 days for their activities that “harmed peace and security”. According to media reports, the Nawaz Sharif government had detained Mumbai attack mastermind after the Donald Trump administration, which had just taken over, had told Pakistan that it may face sanctions if it did not act against JuD and its chief.
MUST READ OP-EDS
Romancing The Maoists: The silence of the human rights activists is as dangerous as the violence of the Maoists. Such people should realise that they are weakening the unity and integrity of the country by silently condoning Maoist violence.
Will RBI Walk The Talk On Banks Consolidation? Talks on mergers and consolidation of state-run banks have revived due to the Rs 7 trillion bad loans problem in the Indian banking system. Now, the government and the banking regulator need to ensure the mergers are painless and beneficial for all the stakeholders.
The Real Estate Act Is A Potential Game Changer: The transformation in business practices with RERA being a catalytic force would ensure that only serious and strong players remain within the real estate sector. It will have a far-reaching impact on builders who will need to recalibrate their business practices to stay relevant.
South Asia’s Missing Intra-Regional Trade: Lack of economic integration in South Asia sharply limits the contribution of trade to regional growth. The drive for regional integration can only come from India.
UDAN: Giving Flight To Aam Aadmi’s Aspirations: The UDAN regional aviation scheme has shattered another glass ceiling in air travel. What takes roughly 10 hours of road travel can now be covered in an hour and is affordable too – this is indeed amazing empowerment.
SWARAJYA SPECIAL
A NITI Aayog Model For Education: Why Campuses Should Welcome Research With Open Arms: NITI Aayog’s recommendations must be implemented honestly, and without fear or favour, to generate leadership in science.
We hope you enjoyed reading our morning brief. Have a great day ahead!
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