Business

Airlines misguiding people, forcing passengers to pay more, says Parliamentary Panel

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Parliamentary Standing Committee has taken note of the high air fares charged by some airline operators in the domestic sector

Published Date – 07:06 PM, Sat – 18 March 23

Airlines misguiding people, forcing passengers to pay more, says Parliamentary Panel
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New Delhi: A Parliamentary Standing Committee has taken note of the high air fares charged by some airline operators in the domestic sector, and held that they are misguiding the public and forcing passengers to pay more.

The Committee also pointed out the wrong information published by the private airlines on their websites, regarding the number of seats left in the flight and the prices of the tickets.

“The level of misinformation can be gauged from the fact that even after the last tickets have been sold, the same number of seats show on the website, as indicated before the tickets sale. This indicates that airline operators are misguiding the public and forcing passengers to pay more,” the panel said in the Demand for Grants (2023-24) report of the Civil Aviation Ministry.

In view of the above, it recommended that the Ministry should formulate appropriate guidelines regarding rationalisation of fares and publishing the correct information on the website of the airlines.

It also pointed out that ‘Predatory Pricing’ is being restored to by the domestic airlines sector. “A particular airline may sell its air tickets at such a low level, that other competitors cannot compete and are forced to exit the market. A company that does this will see initial losses, but eventually it benefits by driving competition out of the market and raising its prices again,” said the report.

The Committee desired to know whether aviation regulator, the DGCA had at any point of time intervened to check the fares of air tickets. It also expressed concern at the fact that in the domestic sector, private airlines are charging different fares for the same sector, route and same direction of flights.

This is specifically so for the northeastern region and hilly areas including Jammu & Kashmir and Ladakh, where the prices of domestic sector tickets are, sometimes, even more than the international airline sector prices.

The Committee took note of the fact that after the repeal of the Air Corporations Act, 1953, the airfare is market driven and depends on market fares, and is neither established nor regulated by the government.

“It notes the DGCA’s comments that the airfares were regulated for a fixed period during the Covid pandemic in compliance with Aircraft Act, 1934 and the regulation was withdrawn as the Covid pandemic abated and that airlines are free to fix reasonable tariffs under the Aircraft Rules, 1937, with regard to cost of operation, services, reasonable profit and generally prevailing tariff,” said the report.

Middle East

Nasrallah, Islamic Jihad head discuss closer coordination against Israel

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Secretary-General of the Lebanese Hezbollah resistance movement, Sayyed Hassan Nasrallah, (R) and Palestinian Islamic Jihad chief Ziyad Nakhalah meet in a southern suburb of Beirut, Lebanon, on March 18, 2023.

Secretary-General of the Lebanese Hezbollah resistance movement, Sayyed Hassan Nasrallah, and Palestinian Islamic Jihad chief Ziyad Nakhalah have discussed increased cooperation between the two groups in the face of the Israeli regime and talked over the latest developments in the Middle East.

The two sides reviewed the challenges facing the Palestinian resistance during a meeting in a southern suburb of Beirut on Saturday and underlined the need for greater future cooperation between the two movements in a way that would further bolster the resistance front to counter Israeli plots, Lebanon’s Arabic-language al-Mayadeen television news network reported.

Nasrallah and Nakhalah also praised the heroism of the Palestinian nation, and the bravery of resistance fighters “who have been courageously standing up against Israeli militia groups and military forces across the occupied  Palestinian territories, especially in al-Quds and the West Bank.”

Last week, the Hezbollah leader stressed the significance of all developments taking place throughout Palestinian lands.

“Special attention should now be paid to rendering assistance to Palestinian resistance fighters, who are trying to push the occupying Israeli regime into the abyss,” he said at the time.

Over the past months, Israel has ramped up attacks on Palestinian towns and cities throughout the occupied territories. As a result of these attacks, dozens of Palestinians have lost their lives and many others have been arrested.

Most of the raids have focused on Nablus and Jenin, where Israeli forces have been trying to stifle a growing Palestinian resistance in the occupied cities.

Local and international rights groups have condemned Israel’s excessive use of force and “shoot-to-kill policy” against Palestinians.

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India's Forex Kitty Drops By USD 2.39 Billion To USD 560 Billion: RBI

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India's Forex Kitty Drops By USD 2.39 Billion To USD 560 Billion: RBI

India’s forex reserves fell by USD 2.39 billion to a three-month low of USD 560.003 billion

Mumbai:

The country’s forex reserves fell by USD 2.39 billion to a three-month low of USD 560.003 billion for the week to March 10, the Reserve Bank said in its latest weekly data release.

In the week to March 3, the reserves rose by USD 1.46 billion and stood at USD 562.40 billion.

On an annualised basis, the RBI said, the reserves are down by USD 47.31 billion during the week under review while on a fiscal year basis, the same plunged by USD 62.23 billion.

With this erosion, the forex kitty is at the lowest since early-December, according to the weekly statistical supplement released by the RBI on Friday.

The loss in the reserves is due to the revaluation of the foreign currency assets, which are the largest component of the forex kitty, to the tune of USD 2.2 billion to USD 494.86 billion for the week to March 10.

On a year-on-year basis, the value of foreign currency assets fell by USD 45.86 billion and from a fiscal year perspective, they lost USD 59.49 billion.

Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US units like the euro, the pound and the yen held in the foreign exchange reserves.

The reserve losses are primarily due to the RBI selling dollars to stem the rupee volatility in the spot and forwards market to prevent runaway moves in the exchange rate.

Last week, the rupee stood ground and lost just 10 basis points against the dollar and the currency traded in the 81.61-82.29 range. The rupee ended at 82.55 on Friday.

The country’s gold reserves and SDR holdings too saw a reduction in the week under review with both reserves falling USD 110 million and USD 53 million, respectively. The gold reserves and SDR holdings stand at USD 41.92 billion and USD 18.12 billion, respectively.

The country’s reserve position in the IMF also fell by USD11 million, taking it to USD 5.1 billion.

The reserves have been falling from the peak as the rupee has been under pressure and the monetary authority has been taking measures to defend the rupee from extreme volatility. In 2022, the cost of defending a falling rupee was over USD 115 billion of the reserves.

The worst drop was in the week to February 10 when the reserves plunged by a steep USD 8.32 billion to USD 566.95 billion.

In October 2021, the forex kitty had reached an all-time high of USD 645 billion.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Middle East

Syrian president pays official visit to UAE

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Upon his arrival at Abu Dhabi Airport, Assad was officially welcomed by the President of the United Arab Emirates Sheikh Mohammed bin Zayed Al Nahyan.

Emirati fighter jets also accompanied the plane carrying Bashar Assad as it entered the airspace of the UAE.

An official welcoming ceremony was also held at the Qasr Al Watan with the firing of 21 cannonballs as a sign of respect.

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India

Iran, Iraq top security officials stress boosting cooperation

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In his remarks, Iran’s top security official referred to the Tehran-Baghdad joint efforts to finalize a comprehensive security agreement that will guarantee stability and improve the security conditions at the borders of the two countries and said that the strict implementation of this agreement will lead to reduce of terrorist threats and prevent of border insecurity.

The implementation of the agreement will also prepare the ground for developing Iran-Iraq relations in different fields more than before, according to him.

Stating that the Islamic Republic of Iran considers the crisis-causing policies and actions of the United States as the main source of insecurity in the region, Shamkhani stressed that the US’s mischief is continuing and the continuation of this process, which disrupts security and stability in the region, cannot be tolerated.

Considering the assassination of anti-terror commanders to be a clear example of the US’s crisis-causing policies, Iran’s top security official added that pursuing the trial and punishment of the perpetrators of this terrorist crime is one of the main priorities of the security cooperation between Iran and Iraq.

Elsewhere in his remarks, Shamkhani considered the anti-security movements of terrorist elements in northern Iraq as another component of insecurity in the region, calling for strict implementation of the security agreement between the two countries which can prevent the evil actions of these groups completely.

He also hailed the role of Iraq in reaching the recent agreement between Iran and Saudi Arabia.

Al-Araji, for his part, said that Baghdad will spare no effort to fully implement the security agreement, adding that his country will not allow any group or country to use Iraqi soil to create insecurity in Iran.

Welcoming the recent agreement between Tehran and Riyadh, the Iraqi security official stressed that the Iraqi government is fully prepared to help the realization of the agreements reached between Tehran and Riyadh as soon as possible, which will benefit both countries and increase stability and security in the region.

He also said that the Iraqi government is committed to the implementation of the law of the parliament regarding the withdrawal of foreign military forces.

Referring to the huge damages that the insecurity has imposed on Iraq and the region during the past years, al-Araji called for developing joint efforts to counter insecurity, as well as boosting Iran-Iraq cooperation in the fields of economy, trade, and industry.

MP/IRN85061612

Top News

North Korea Fires Short-Range Ballistic Missile

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North Korea Fires Short-Range Ballistic Missile

North Korea fired a short-range ballistic missile on Sunday, Seoul’s military said, the fourth show of force in a week as South Korea and the United States stage major military drills.

Seoul and Washington have ramped up defence cooperation in the face of growing military and nuclear threats from the North, which has conducted a series of increasingly provocative banned weapons tests in recent months.

South Korea and the United States are in the middle of 11 days of joint drills known as Freedom Shield, their largest in five years.

North Korea views all such exercises as rehearsals for invasion and has repeatedly warned it would take “overwhelming” action in response.

“Our military detected one short-range ballistic missile fired from around the Tongchang-ri area in North Pyongan province at 11:05 am (0205 GMT) towards the East Sea,” South Korea’s Joint Chiefs of Staff (JCS) said, referring to the body of water also known as the Sea of Japan.

The missile flew 800 kilometres (500 miles) and was under analysis by US and South Korean intelligence, the JCS said in a statement, calling the launch “a serious provocation” that violated UN sanctions.

“Our military will maintain a solid readiness posture based on its ability to overwhelmingly respond to any provocation by North Korea, while carrying out intensive and thorough combined exercises and drills,” it said.

Tokyo also confirmed the launch, with deputy defence minister Toshiro Ino telling reporters Japan had “lodged a vehement protest to and strongly condemned (North Korea) through our embassy in Beijing”.

The US military’s Indo-Pacific Command condemned the launch, saying it highlighted “the destabilising impact” of North Korea’s banned weapons programmes.

South Korea’s defence ministry said hours after the launch it had staged joint air drills with the United States featuring at least one US B-1B long-range bomber.

The drills also involved South Korean F-35A stealth fighter jets and US F-16 fighters and took place as part of the Freedom Shield exercise. The exercise had “greatly enhanced the allies’ interoperability… and wartime capabilities”, the ministry said in a statement.

– ‘War maniacs’ –
The latest launch came a day after North Korean state media reported that more than 800,000 young North Koreans had volunteered to join the army to fight “US imperialists”.

The young volunteers were determined to “mercilessly wipe out the war maniacs” and joined the army to “defend the country”, the Korean Central News Agency (KCNA) said.

On Thursday, Pyongyang test-fired its largest and most powerful intercontinental ballistic missile, the Hwasong-17, its second ICBM test this year. It described the launch as a response to the “frantic” US-South Korea drills.

The UN Security Council is expected to hold an emergency meeting Monday over the ICBM launch at the request of the United States and Japan, Yonhap news agency reported.

In a statement carried by KCNA on Sunday, the North’s foreign ministry “strongly” warned the US and other countries to include “legitimate self-defensive countermeasures of the DPRK for the discussion of the UNSC.” DPRK is the acronym of North Korea’s official name.

Analysts previously said North Korea would likely use the drills as an excuse to carry out more missile launches and perhaps even a nuclear test.

The ICBM launch followed two short-range ballistic missiles on Tuesday and two strategic cruise missiles fired from a submarine last Sunday.

The recent flurry of aggression by Pyongyang has pushed Seoul and Tokyo to mend fences over historical disputes and try to boost security cooperation.

Just hours after the ICBM was fired Thursday, South Korean President Yoon Suk Yeol arrived in Japan for the first full-scale leaders’ summit between the countries in 12 years.

Yang Moo-jin, a professor at the University of North Korean Studies in Seoul, said the recent missile launches had several purposes, including protesting against the joint drills as well as testing trilateral responses from South Korea, the United States and Japan.

North Korea declared itself last year an “irreversible” nuclear power and leader Kim Jong Un recently called for an “exponential” increase in weapons production, including tactical nuclear weapons.

Kim also ordered the North Korean military this month to intensify drills to prepare for a “real war”.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Hyderabad

Telangana: Deccan Development Society founder PV Satheesh passes away

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PV Satheesh, founder of Deccan Development Society, fondly called as the Telangana Millet Man passed away in Hyderabad.

Updated On – 02:18 PM, Sun – 19 March 23

Telangana: Deccan Development Society founder PV Satheesh passes away

Sangareddy: Founder of Zaheerabad-based Deccan Development Society (DDS) PV Satheesh (77) passed away in a private hospital in Hyderabad while undergoing treatment for health issues in the early hours of Sunday. He was fondly called as the Telangana Millet Man.

Satheesh founded the DDS in 1983 in Zaheerabad to conserve traditional crops besides improving the lives of women from  backward sections of Zaheerabad area. During the last four decades, the DDS has won several awards for its work. The DDS women had won the Equator prize presented by United National Development Programme. 

As the news of the demise of Satheesh spread in the Zaheerabad area, the people associated with DDS turned emotional. 

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Manipur Chief Minister Hints At Drive To Detect Illegal Immigrants

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Manipur Chief Minister Hints At Drive To Detect Illegal Immigrants

N Biren Singh was addressing a press conference in Imphal (File)

Imphal:

Manipur Chief Minister N Biren Singh has hinted that his government is contemplating strong measures to detect illegal immigrants in the state and initiate legal proceedings for their deportation.

This in the backdrop of escalating protests by different student organisations and other outfits, demanding the implementation of National Register of Citizens (NRC) in Manipur.

Government sources have not ruled out NRC type detection, deletion and deportation of illegal immigrants mostly from neighbouring Myanmar.

“It is a positive sign of the indigenous people’s concern regarding the escalating infiltration of outsiders in the state. I feel now the indigenous people of Manipur have started knowing the gravity of the seriousness of influx”, the chief minister said at a press conference in Imphal on Saturday.

The chief minister also highlighted that the centre has already extended the Inner Line Permit System (IIP) to the state in recognition of the potential threat to the native population posed by the rising number of immigrants.

“There has to be a mechanism of illegal immigrant movement from across the international border,” Mr Singh opined.

Sources added that the focus is now on verification drive to be taken up in five districts, including Chandel, Churachandpur, Tengnoupal, Kamjong and Pherzawl for identifying illegal immigrants.

Business

Indian economy losing steam, says Chidambaram

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India is growing but the sequential quarter growth is declining and the economy is losing steam, said former Union finance minister P Chidambaram

Published Date – 07:45 AM, Sun – 19 March 23

Indian economy losing steam, says Chidambaram
File photo: Chidambaram

New Delhi: Senior Congress leader and former Union finance minister P Chidambaram Saturday said India is growing but the sequential quarter growth is declining and the economy is “losing steam”. He also accused the Narendra Modi government of “neglecting” the poor and the very poor.

“The reality is we are growing but the quarter upon quarter growth or the sequential quarter growth is declining — 13.2 per cent, 6.3 per cent, 4.4 per cent and the fourth quarter, my estimate is, between 4.1 per cent and 4.3 per cent.

“So, it is a declining quarterly growth rate, which means the Indian economy is losing steam,” Chidambaram said at the India Today Conclave.

Asked about India growing faster among the major economies of the world, the former finance minister said, “There is no boast in saying ‘I am the one-eyed monarch of the blind’. The point is China, when it grows at 3 per cent or 3.5 per cent, will still add every year to its annual wealth or annual output several times more than India growing at 7 per cent.” “China is five-and-a-half-times larger than India. Therefore, the relevant number is the per capita income and (according to) per capita income, we are still a very poor country, he said.

Chidambaram also said the BJP-led NDA government was wrong in not providing fiscal stimulus during the pandemic.

“The government was wrong in not giving a fiscal stimulus. That’s why three crore people had to migrate from other cities and states, back to Bihar and Uttar Pradesh,” he said.

Asked what would be the one thing he would credit the government with, Chidambaram said he would give credit to this government for its single-minded focus on containing the deficit and debt management.

“I have no hesitation in giving credit where it is due, but all I am pointing out is there is so much more to be done,” Chidambaram said.

“A prime minister with so much energy, drive and control over his party can do so much more. Instead of that, we are talking about a non-interview and documentary. Why are we wasting time on those things?” he posed.

Neelkanth Mishra, who is a member of the Economic Advisory Council to the Prime Minister, said what is extremely important right now is that in this global financial turbulence if India is seen as a stable economy, it will continue to attract foreign investors, foreign companies, which can bring skills and technology.

“So on a five-year basis, the expectations of India’s GDP growth should be that India will contribute 12-15 per cent of incremental GDP in the next five years,” he said.

Mishra also contended that the quarterly GDP numbers are extremely inaccurate.