Morning Brief: Indrani Mukerjea Names P Chidambaram In INX Media Case; India Trashes Canada’s Conspiracy Theory; Core Sector Grows 6.7 Per Cent

Good morning, dear reader! Here’s your morning news and views brief for today.

Indrani Mukerjea Names P Chidambaram In INX Media Case

In a dramatic development in the INX Media money laundering case, accused Indrani Mukerjea has named former Finance Minister and Congress leader P Chidambaram. She has reportedly told the Enforcement Directorate (ED) that she had been asked to help out the business of P Chidambaram’s son Karti Chidambaram during a meeting at North Block. Earlier, Mukerjea had admitted having paid close to Rs 3.10 crore to Karti Chidambaram’s firm for the Foreign Investment Promotion Board (FIPB) clearance to bring in foreign funds for her television venture INX Media. The FIPB comes under the Finance Ministry, the charge of which was then with P Chidambaram.

The Central Bureau of Investigation on Wednesday arrested Karti Chidambaram from Chennai for not cooperating with the agency in the ongoing probe and produced him before a court in Delhi. The court has sent him to one-day in police custody. The Congress has described Karti Chidambaram’s arrest as vendetta.

India Trashes Canada’s Conspiracy Theory

After Canada’s National Security Advisor Daniel Jean accused India of using a Sikh extremist to sabotage Prime Minister Justin Trudeau’s visit, New Delhi hit back at Ottawa saying the theory was “baseless and unacceptable.” The strongly-worded statement from Ministry of External Affairs came soon after Prime Minister Trudeau, speaking at the House of Commons during his first Question Hour since returning from India, appeared to support the top official’s claim that many in Canada and India had dismissed as a ‘conspiracy theory’. When Conservative Leader Andrew Scheer asked the Canadian Prime Minister if he agreed to or disavowed the allegations made by the senior security official, Trudeau defended the bureaucrat.

“Our professional, non-partisan public service does high-quality work. And when one of our top diplomats and security officials says something to Canadians, it's because they know it to be true,” the Canadian Prime Minister said.

Core Sector Grows 6.7 Per Cent In January

As the output of petroleum and cement in the country zoomed and production of steel, power, and coal improved, eight infrastructure sectors grew at a faster pace of 6.7 percent in January against 3.4 percent during the same period in 2017. Petroleum refinery production spurted 11 percent, cement output jumped 20.7 percent, electricity generation growth paced to 8.2 percent and Coal sector output improved by 3 percent. Crude oil production dropped 3.2 percent, fertilisers by 1.6 percent and natural gas by 1 percent. Cumulatively, the eight core sectors in the country grew by 4.3 percent during April-January this fiscal. This was significantly lower than 5.1 percent growth in the same period last fiscal.

Indigenous Anti-Tank Missile Ready For Induction Into Army

India’s indigenously developed Anti-Tank Guided Missile (ATGM) Nag has been declared ready for induction into the Indian Army after the latest desert trails of the missile against two tank targets at different ranges and timings were successful. The third-generation fire-and-forget ATGM has been developed by the Defence Research and Development Organisation (DRDO). Initially, the Army is likely to place an order for 443 Nag ATGMs and 13 NAMICA missile launch vehicles. In its perspective plan, the Army has projected the need for 7000 Nag missiles and around 200 NAMICAs.

The DRDO is currently developing two new variants of the missile for the Indian Air Force: the 8km-range ‘Helina’ to arm Dhruv Advanced Light Helicopter and a 10km-range variant capable of being launched from aircraft. A man-portable version of the missile, which would weigh less than 14 kg, is also being developed.

Monthly Allowances Of MPs To Increase By Rs 40,000

With the union cabinet approving up to 55 per cent hike, the monthly allowances of members of parliament (MPs) will increase by Rs 40,000 per month. MPs will now be paid to Rs 70,000 per month as constituency allowance instead of Rs 45,000. Office expenses allowance for the MPs has also been increased to Rs 60,000 from Rs 45,000. The furniture allowance paidonce in five years, is also set to increase to Rs 1 lakh from Rs 75,000 currently. Under the new system, all the allowances will automatically increase after every five years on the basis of cost inflation index.

Nirav Modi Refuses To Join CBI Investigation

Absconding diamantaire Nirav Modi has refused to join the Central Bureau of Investigation investigation in the Rs 12,622 crore fraud in Punjab National Bank. Citing business engagements, he has reportedly said that he can’t return to India. A Blue Corner notice has been issued against him and his uncle Mehul Choksi. Meanwhile, PNB's internal chief auditor M K Sharma, a high ranking official, was arrested by the agency in connection with the case. Sharma was responsible for auditing the systems and practices of the bank's Brady House branch and reporting deficiencies to the zonal audit office. This is first arrest of any auditor of the PNB.

MUST READ OPINIONS AND COLUMNS

Engaging To Contain: Trudeau government’s tacit support for pro-Khalistan elements in the name of free speech can’t be justified.

India Is Doing Well On Financial Inclusion: The latest all-India score on the CRISIL Inclusix financial inclusion index has surged, driven by the Jan Dhan Yojana.

Rise Of Competition Jurisprudence: Regulating competition without stifling the nascent Internet economy in India will no doubt be a tightrope walk.

SWARAJYA SPECIAL

Karti’s Arrest Singes Chidambaram, But A Lot Depends On CBI’s Ability To Link Son’s Business To Ex-FM’s Actions: Proof to link Karti’s company with his father’s decisions as finance minister may lie with Indrani and Peter Mukerjea, who will have to confirm that they paid the money. It’s their testimony that is going to be crucial.

We hope you enjoyed reading our morning brief. Have a great day ahead!

SUBSCRIBE NOW: The February issue of our magazine is out now. The cover story focuses on Aadhaar. The benefits from Aadhaar far outweigh the pitfalls. The lacunae can be remedied through some quick course correction and stricter governance – Aadhaar Explained. For more insights and detailed analysis get a copy home and enjoy reading Swarajya in print. Subscribe here to start receiving your copies for just Rs 349.

Swarajya Apps: Enjoy reading morning brief and all other articles from Swarajya on your mobile. Download our app here on Android and iOS.