IndustryexpectsBudgettoprovidethrusttoUDAN

NEW DELHI, JAN 29

(IANS): Along with the increase in air traffic, the country has witnessed growth in the aviation infrastructure especially in terms of more routes and development of airports. Keeping in view the past growth in the air traffic, Industry expects that the upcoming Budget will give wings to the aviation sector.

The ambitious regional connectivity scheme UDAN (Ude Desh ka Aam Nagrik) is one such scheme of the government and it is going to add more feathers to its cap in the coming time.

While 453 routes have already been started under the scheme connecting cit- ies across the country and operationalising 70 airports, more routes and airports will be added to the list with the rising demand in affordable air travel.

The UDAN scheme is applicable for a period of 10 years from the date of its notification. The government has set a target to operationalize 1,000 UDAN routes during the currency of the scheme and to revive and develop 100 unserved and underserved airports, heliports, water aerodromes by 2024. Suprio through regional connectivity scheme (RCS) has been an ongoing focus of the government and we expect that to continue. Improving existing infrastructure and capacity at some key airports besides setting up newer airports has also been the need of the hour. Further, connectivity with the underserved/unserved airports to boost tourism needs improvement.”

Banerjee, Vice President

& Sector

- Corporate Ratings, ICRA Limited, said: “Focus on continuing improvement in regional connectivity

Head

Similarly, development of new airports as well as airport infrastructure has also recorded corresponding growth and Industry experts said that the momentum will continue in the next financial year. The total number of airports has nearly doubled from 74 in 2014 to over 141 in 2022. Keeping in view the growth in the aviation traffic, the government has accorded in-principle approval for setting up 21 Greenfield Airports across the country. Out of these, many Greenfield airports including Durgapur, Shirdi, Kannur, Pakyong, Kalaburagi, Orvakal (Kurnool), Sindhudurg, Kushinagar and Donyi Polo, Itanagar and Mopa have been operationalised.

The Ministry of Civil Aviation received an allocation of Rs 10,667 crore in the last Budget and Industry expects that the upcoming Budget will adequately address the demand of the avi- ation sector. Industry rating firm ICRA expects higher budgetary allocation for the industry as compared to the past. The government did extend the ECLGS scheme to the aviation sector and also enhanced its scope, thus providing some liquidity support to the airlines. The industry expects to continue to receive similar credit support from the government. The industry also needs favourable measures in terms of taxation, with one of the recurring demands from the industry players being rationalisation of duties on ATF and/ or bringing it under the purview of the goods and services tax (GST).

(From p-1) Special number was presented by NK Naga, vote of thanks was given by party’s State secretary Obed Sumi and benediction offered by Thahekhu Village, Block 7 Fellowship, pastor Jetovi Chishi.

Later, interacting with media persons after the programme, Singh said JD (U) would be fielding only winnable candidates, but did not disclose the number of candidates the party would field, nor the constituencies from where it would be field- ing candidates. When asked if JD (U) would be a part of any coalition government in the State with BJP as an alliance partner, he sternly replied that his party would never align with BJP in forming government in any state.

Nagas feel betrayed by BJP: JD (U) chief Eastern Nagaland require special...

(From p-1) the real problem of the ENPO during the past five or six year tenure. He said having Delhi talk over the issue with the proponents would not result in any concrete solution. Dr.Jamir lamented that the current coalition government has allowed the Centre to bypass it by allowing talks directly with eastern Nagas. He said the issue has to be dealt with by the state government since it is outside the purview of the Centre to involve with an internal matter of a state. Dr. Jamir also said he has no idea if the centre is going to accede to the demand by ENPO for Frontier Nagaland State. Dr. Jamir said maintained that the Centre ought to ensure that Naga unity and integrity of the state ought to be maintained and that special development for the eastern area could be pursued within a constitutional framework.

Naked short selling not permitted in Indian markets

NEW DELHI, JAN 29 (IANS): Naked short selling is not permitted in the Indian securities market and all investors would be required to mandatorily honour their obligation of delivering the securities at the time of settlement.

As per SEBI norms, short selling shall be defined as selling a stock which the seller does not own at the time of trade. All classes of investors, viz., retail and institutional investors, shall be permitted to short sell.

The securities traded in the F & O segment shall be eligible for short selling.

SEBI may review the list of stocks that are eligible for short selling transactions from time to time.

The institutional investors shall disclose upfront at the time of placement of order whether the transaction is a short sale. However, retail investors would be permitted to make a similar disclosure by the end of the trading hours on the transaction day. The brokers shall be mandated to collect the details on scrip-wise short sell positions, collate the data and upload it to the stock exchanges before the commencement of trading on the following trading day. The stock exchanges shall then consolidate such information and disseminate the same on their websites for the information of the public on a weekly basis. The frequency of such disclosure may be reviewed from time to time with the approval of SEBI.

Hindenburg Research report a calculated attack on India: Adani

NEW DELHI, JAN 29 (IANS): Adani Group in a statement on Sunday said it is shocked and deeply disturbed to read the report published by the “Madoffs of Manhattan” - Hindenburg Research on January 24 which is nothing but a lie.

The document is a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive, Adani Group said.

This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors.

It is tremendously concerning that the statements of an entity sitting thousands of miles away, with no credibility or ethics has caused serious and unprecedented adverse impact on our investors. The mala fide intention underlying the report is apparent given its timing when Adani Enterprises Limited is undertaking what would be the largest ever further public offering of equity shares in India. This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India, Adani Group said.

There are three key themes from the Hindenburg Report: (i) Selective and manipulative presentation of matters already in the public domain to create a false narrative. (ii) Complete ignorance or deliberate disregard of the applicable legal and accounting standards as well as industry practice. (iii) Contempt for the Indian institutions including the regulators and the judiciary, Adani Group said.

Snippets

Passenger bus in Pakistan crashes, catches fire killing 40

QUETTA, JAN 29 (AP):

A passenger bus crashed into a pillar and fell off a bridge, catching fire and killing 40 people in southern Pakistan on Sunday, a government official said.

The bus was carrying 44 passengers from Quetta in Balochistan province to Karachi in neighboring Sindh province. The accident was near the town of Bela, in Lasbela district.

Hamza Anjum

Nadeem, assistant commissioner in Bela, said the bodies of 40 people, including women and children, were recovered.

Four injured passengers were rescued.

B’desh PM Hasina likely to attend G-20 summit

DHAKA, JAN 29 (PTI):

Bangladesh Prime Minister Sheikh Hasina is expected to visit India in September to join the G-20 summit on an invitation sent by her Indian counterpart Narendra Modi, a foreign ministry official said here on Sunday. India officially assumed the G20 presidency on December 1. The country is expected to host over 200 preparatory meetings across the country. The next G20 Leaders’ Summit at the level of heads of state or governments is scheduled to be held on September 9 and 10 this year in New Delhi.

US to start receiving H1B visa applications from March 1

WASHINGTON, JAN

29 (PTI): The highly anticipated H1B visa filing season for fiscal 2023-24 will officially begin on March 1 when the US immigration agency will start accepting applications for skilled foreign workers visas, the most sought-after by Indian IT professionals. The H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.

Maldives prez to run for second term

MALE, JAN 29 (AP):

Maldives President Ibrahim Mohamed Solih won a party primary and will run for a second term in September elections.

Solih defeated Mohamed Nasheed, the parliament speaker and a former president, in the Maldivian Democratic Party primary held on Saturday night.

2 Palestinians killed by Israeli security

JERUSALEM, JAN 29

(AP): Two Palestinian men died Sunday from gunshot wounds from Israeli security personnel in separate incidents, the Palestinian Health Ministry said, as Israeli forces sealed off the home of an east Jerusalem man who killed seven people outside a synagogue on Friday.

Earthquake in northwest Iran kills 3, injures 800

TEHRAN, JAN 29

(AGENCIES): A

5.9-magnitude earthquake hit northwestern Iran overnight, killing at least three people and injuring more than 800 in the region near the border with Turkey, state officials and media said Sunday, reports AFP.

Panicked residents fled their homes as buildings collapsed and rubble crushed cars, with hundreds seeking shelter from freezing winter conditions in evacuation centres as more than 20 aftershocks rattled the region.