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In the broader market, the BSE Mid-Cap index advanced 527.85 per cent.98 per cent, L&T 3.62 and 29,356. Buying was witnessed across the spectrum led by Realty, FMCG, Consumer Durables, Capital Goods, Power, Metal, Banks, Auto, HealthCare, IT, PSUs, Oil and Gas and Teck sectors, well supported by shares of Midcap and SmallCap companies.77 per cent, Wipro 3.03 per cent, IT 1.44 per cent, capital goods 4.42 per cent, it was followed by Tata Steel 7.47 per cent, it was followed by Bharti Artl 4.The strong undercurrent was further flavored by government update good bearing Manufacturers on GST roll-out from July as well as US Federal Reserves rate hike cushioned by less hawkish tone on future hike eliminated market-players distraction.76 points, or 2.23 crore during the week, as per Sebis record including the provisional figure of March 17.65 per cent, Asian Paints 4.15 per cent, healthcare 2.40 intra-day trade on Friday.67 per cent, Maruti 3.99, Showing sharp gain of 702.59 per cent.68 crore from Rs 73,598.94 per cent, ICICI Bank 3.78 points or 0.05, before settling at 29,648..98 per cent, ONGC 0.70 per cent, consumer durables 4.50 points, or 2.

The market was closed on Monday, 13 March for "Holi".The total turnover during the week on BSE fell to Rs 70,897.55 points, or 3.41 per cent and Sun Pharma 3.06 per cent and teck 0.23, hovered between 29,824.32 per cent, metal 2.23 per cent, oil and gas 1.95 per cent to settle at 13,893.During the week, the key indices opened gap-up 29,437.43 per cent. Among sectoral and industry indices, realty rose by 5.22 per cent, auto 2.32 per cent, ITC 6.39 per cent.Mumbai: BJPs remarkable election victory, particularly in Uttar Pradesh summed-up the market mood of the week, with Nifty index marking three lifetime highs and Sensex rallying 702. Adani Ports was the top Sensex gainer it rose to 8.76 points to 29,648.Among the 30-share Sensex pack, 26 stocks advanced and remaining 5 stocks fell during the week.Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 8,684.36 as against Rs 98,019.Brokers including FIIs cheered BJPs victory would accelerate the pace of market-oriented reforms, the immediate reaction to the win were massive foreign-fund inflows to the Indian equities during the week.The sensex had gained 113.67 points, or 3 per cent to settle at 14,012.05, it reached historic lifetime highs 9,218.39 per cent last week.52 per cent to finish new closing peak at 9,160.The BSE Small-Cap index gained 407.78 per cent, bankex 2.99. While Nifty gained 225.The holiday-truncated eventful week saw the traders eagerly awaiting poll-outcome in five-states, while BJPs landslide victory in UP and impressive show in rest other states generated direct bearing on countrys financial markets including rupee appreciating to multi-month highs as well as shares performing to the optimal

So my position is clear. It is for the prosecution and court to decide whether they want me as a witness or not. This is perfectly valid.You have been in a controversy after you distanced yourself from the previous United Progressive Alliance government’s second affidavit in court where Ishrat’s link to the LeT had been omitted. Many are associating you with the Bharatiya Janata Party and Prime Minister Narendra Modi by citing your current position in Adani ports.Similarly, on the second draft, Mr Chidambaram should stand by his draft.Do you think the Ishrat case demands a relook in view of the fresh claims from a number of officers, including R.I am an independent director on the board of a number of companies. In an exclusive interview to Namrata Biji Ahuja, Mr Pillai denies any political pressure even as he makes no bones about his Adani link. Can you tell us whether at any stage there was any political pressure on you Did anyone contact you from either the BJP or the Congress before or after this controversy There was no political pressure on me.

The court established a special investigation team to do an investigation and then the SIT itself was taken over by the CBI.Like I am standing behind the first draft.S. It will be decided by a court of law. I am not saying that my joint secretary or my joint director, the IB had put it. You are being held equally responsible by Mr Chidambaram. But when you change the affidavit it gives a wrong and confusing signal to the court. The alleged fake encounter is a separate issue from whether they were terrorists or not.Wasn’t the first interview given by you, instead of Mr Chidambaram, on the issue He had said it earlier, that’s why the questions were asked. The case is before the court so let the court decide.Why do you think the former minister is dragging you into it Are you being made a political scapegoat Mr Chidambaram is only taking advantage of a technicality — when the file was put before me, I did not record that it was a draft sent by him. I have no record of it.You are known for your candid views. However, Mr Chidambaram himself dictated the draft and there was nothing illegal in what he dictated per se. Both prosecution and witness have to file their submissions. In the first affidavit the IB input says they are terrorists, while the second affidavit does not mention it.G.But the argument being given (by Mr Chidambaram) is that since it had no evidential value, it was omitted from the affidavit. He asked the officers to go and file it in the court. I am not commenting on what was in the affidavit, that was his (minister’s) prerogative which he expressed in the note, and he is fully competent as the head of the home ministry to express his opinion because he had seen the first draft and then made a second draft. You still stand by the first affidavit You think the input from the IB was convincing I think everybody in the IB still stands by the first affidavit. I dare him to deny that even one word from that draft was not dictated by him.

The witnesses are examined and cross-examined and that process is a part of judicial proceedings..What do you think could be the next fallout of this controversy I don’t know.Ishrat’s lawyer, Vrinda china non-standard bearing Manufacturers Grover, says that you can be made a prosecution witness in the case. It is for the court to decide. I am only saying "Please admit that you made the draft. Mani, the then under-secretary in MHA I am not commenting on that. It is the government’s prerogative.In hindsight do you think you should have recorded your dissent I think I should have written in the file: "The revised draft as dictated by you and ordered to be filed in the court is submitted for your approval". While the officers tried to tell him that the first draft was okay, Mr Chidambaram didn’t listen. On enquiring, they told me that Mr Chidambaram had dictated and directed it to be filed. I don’t think either of the two affidavits are any evidence material insofar as the case that is going to be tried is concerned. So, I simply signed the draft and put it before him. While there was nothing illegal in it or beyond the competence of Mr Chidambaram, it varied from the first draft. These include five listed companies.I read the draft. Don’t hide behind the home ministry and the IB. The 19-year-old was moving around with alleged Pakistani sharpshooters before they were killed in an alleged fake encounter by the Gujarat police and the Intelligence Bureau.What was the trigger for you to speak on the Ishrat Jahan case at this point of time Mr Chidambaram said that the revised draft was done in consultation with the IB and MHA. If the government wants to conduct an inquiry let it order one. He made some small grammatical corrections and asked for the fair copy to be shown to him. We do not disbelieve it. I kept the file for Mr Chidambaram’s formal approval. See, if an IB input says that somebody is a terrorist, it is to be believed till it is proved otherwise.Was there any communication from the then Prime Minister’s Office or the Sonia Gandhi-led National Advisory Council on the matter I am not aware of that. He approved the fair copy and it was filed in the high court. Chidambaram, in his office." He should say, "I did it because I felt it should be corrected".It is only an affidavit of the Union of India in the court; it is not a statement. As a result, questions were being asked of me. The first draft was cleared by me and I stand by it. I am the chairman of Tata International Limited, Zuari Fertilisers & Chemicals Limited where I am an independent director; a director on Berger Paints; chairman of IvyCap, a venture capital fund sponsored by the IIT alumni; then I am not a permanent employee and work as an independent director at Data Security Council of India (under NASSCOM); and the Adani ports and SEZs where, again, I am an independent director. They investigated the whole matter and filed a chargesheet. Pillai, former home secretary, minces no words on former home minister P. The Central Bureau of Investigation has investigated and filed a chargesheet. Chidambaram’s direct role in removing the reference to Ishrat Jahan being a Lashkar-e-Tayyaba (LeT) operative from the second affidavit filed by the home ministry under the UPA-2 government. That would have made my position very clear. But Mr Chidambaram has admitted that the revised draft was dictated by him. Can you share what really happened The draft of the revised affidavit was dictated by the then home minister, P. Mr Chidambaram called for the file, the junior officers from the Intelligence Bureau and home ministry were present, and he dictated the revised draft.K. What do you have to say It is not for me to decide.When the officers brought the file to me, that was the first time I got to know that a revised draft existed.Do you think Ishrat Jahan’s LeT connection has a bearing on the case Will there be a need to file a supplementary report in the court If asked for. Nobody, either from the BJP, the Congress, or any other party, contacted me.Fresh claims are now being made in the media about your motive in raking up this issue.What do you think will be the fallout of this controversy It is not for me to say. I stated what I did in response to these questions. All I am saying is, it was done suo motu, dictated and finalised by him.The onus would have been on me had Mr Chidambaram passed an illegal order or something that was beyond his competence. If it comes in a court of law there are enough witnesses that it was dictated in his office. If I get a court summons, I will go to the court and tell them what I know.I don’t know about political compulsions, I am not getting into that. And there will be many witnesses in the home ministry and the IB to corroborate my statement even though I was not present when the draft was made.It is being said that since the order went through you, the onus lies on you for clearing the file since you were the home secretary. Did the court raise eyebrows to the fact that there was a change in the affidavit No, the court did not say anything. So let the judicial process go ahead.V

The GST Council, chaired by china bearing Manufacturers Union Finance Minister Arun Jaitley and comprising his counterparts from states, has already decided on the formula for payment of compensation to states for any loss of revenue from implementation of GST in the first five years of implementation of the new tax regime. While pan masala containing gutkha will face a hefty 204 per cent cess, scented zarda and filter khaini will attract 160 per cent cess.It had agreed on keeping base year for calculating the revenue of a state at 2015-16 and considering a secular growth rate of 14 per cent for calculating the likely revenue of each state in the first five years of implementation of GST.Internal calculations of the department indicate that there would be a surplus in the compensation fund at the end of March 2018 since big states might not see any shortfall in revenue and it is only the small states which may need to be compensated.The remaining amount in the Goods and Services Tax Compensation Fund will come from cess on pan masala, aerated drinks and motor vehicles, the source added.The Centre and states have already agreed to impose cess on 55 demerit and luxury goods under the GST regime, over and above the peak tax rate of 28 per cent.As per the revenue departments estimates, Rs 22,000 crore is expected to come from cess on coal, lignite and peat in the July-March period of current fiscal.

The amount to be raised through cess on coal as well as luxury items and sin goods will be used for compensating states for revenue shortfall following the implementation of the new tax regime. Small diesel cars with engine of less than 1500 cc will be charged 3 per cent cess. Small cars of less than four meter length and with petrol engine of up to 1200 cc will attract 1 per cent cess on top of the peak rate.Besides, a clean energy cess will be levied on coal, lignite and peat production at the rate of Rs 400 per tonne.The revenue department is hopeful that funds raised through different kinds of cess would be sufficient to take care any revenue shortfall that the states might face on account of GST rollout.Mid-sized cars, SUVs and luxury cars will all attract 15 per cent cess, same as that for buses and vans that can carry more than 10 persons. Cess on tobacco is likely to yield around Rs 16,000 crore, a source told PTI. "That is why we have levied cess even on small cars. Hybrid cars of more than 1500 cc engine would also attract 15 per cent cess.In an interview to PTI earlier, Revenue Secretary Hasmukh Adhia had said: "Roughly, we would think that whatever compensation is required for current year it would be made good from the cess income which we will get this year and cess tables have been arranged accordingly. Aerated drinks and lemonade will attract 12 per cent cess, while for filter cigarettes exceeding 65 mm but not exceeding 70 mm the levy is 5 per cent plus Rs 2,126 per thousand sticks.As per the Goods and Services Tax (Compensation to States) Act, 2017, any residual amount left in the compensation fund after five year compensation period is to be shared equally between the Centre and the states.

The big manufacturing states are anyways consumers and we do not anticipate any shortfall in the consumption even in producing states since majority of the commodity would become less expensive after roll out of the GST.On tobacco and tobacco products, the cess will vary from 71-204 per cent. The small cars have been kept within cess because there is an existing incidence on small cars and we didnt want to lose some revenues there". We expect revenues of most states to increase by more than 14 per cent," a source said..In case there is sufficient surplus in the compensation fund at the end of March 2018, the source said "the government will review its strategy which may include a reduction in cess and also cut in tax rates for certain goods and services".New Delhi: The Centre expects to mop up as much as Rs 55,000 crore by levy of cess, including a big chunk from demerit and luxury goods, during the 9-month period of the current fiscal after the Goods and Services Tax (GST) is rolled out from July 1

Most of them moved out on their own but there were many instances when they were asked to leave by locals. The turbulence that has been an inseparable facet of Kashmir’s everyday life for years never bothered him. He lived with his family of four in a rented room in the same roadside building.In summer, Kashmir also becomes home to tens of thousands of seasonal labourers, small-time traders and other workers, mainly from Bihar, Uttar Pradesh and West Bengal.While a few thousand panic-stricken seasonal labourers also headed for home in whatever means of transport was available, hundreds others were coerced by the security forces to leave.A day after Parliament approved a resolution abrogating the special status for Jammu and Kashmir under Article 370 of the Constitution and a bill for splitting the state into two Union territories, thus also removing the legal impediments in owning of land and other immovable properties in the region by non-locals, Akbar, a resident of Bijnour (Uttar Pradesh) told a local resident: "Ab mujhe yahan sey koi nahi nikaal sakta hai (Now, no one can evict me from here)".Srinagar: Muhammad Akbar was running a sweet shop in Srinagar’s Khanyar area for the past two decades and more. They come to the Valley to earn better wages in affable work and weather conditions. Akbar and his family were soon out on their ear. His plea that whatever he had said was only a mazakh (joke) went unheeded. Sections of population in the Jammu region are also equally worried over the turn of events. Also making tracks with them were a number of seasonal labourers from different states of the country working in the Valley. However, a majority of the non-local workforce chose to stay put, ostensibly in the hope that things will return to normal soon. There were roughly 400,000 such "non-locals" in the Valley prior to August 2 when the state home department issued the "advisory" to tourists and Amarnath pilgrims, asking them to cut short their trip and return to their states "as early as possible".Officials said about one lakh such seasonal or migrant labourers reached the railway stations in Jammu and Udhampur and Jammu’s bus terminus from the Valley over the past few days to undertake the onward journey small bearing to their respective states..The word spread quickly. This, he said, could be a provision under which a person who wants to buy land or seek a job in a government office or agency should have lived in the state for a certain period of time, as is the arrangement in Himachal Pradesh and some other states. He and his family endured even the 2016 post-Burhan Wani killing unrest, the most difficult period seen in the Valley in the past decade. Both Muslim and non-Muslim labourers are bearing the brunt. With that, thousands of families holidaying in the scenic Valley and also many pilgrims waiting in Srinagar, Pahalgamand Sonamarg to undertake the journey through the rugged hills to the revered cave-shrine in the Himalayas started leaving the Valley.But with the Valley and some other parts of the region having been pushed into a chaotic situation due to the prolonged clampdowns and complete communications blockade, thousands more started leaving the Valley in the past 10 days. Northern Railway is running special trains and adding additional coaches to all routine services to meet the rush, officials said.Against this backdrop, senior BJP leader and former Speaker of now defunct state Assembly Nirmal Singh has assured the people that his party is trying to persuade the Centre to put in place a provision of "domicile" requirement for various purposes like the purchase of land to protect the interests of citizens of J&K. "He was along with his family putting up in a small house ‘gifted’ to him by a local medical practitioner, but couldn’t have ownership rights over it due to the existing law," said a resident.Back in the Valley, there is growing apprehension among locals that the main motive behind the Centre’s scrapping of Articles 370 and 35A could be to pave the way for "outsiders" to get their hands on the land and other immovable properties in J&K in the run-up to changing the demography of the Muslim-majority state.Days before J&K was disempowered, downgraded and divided, the state authorities had in what later turned out to be a manoeuvre asked tourists and Amarnath pilgrims to leave Kashmir in view of the "prevailing security situation" and imminent "terror attacks". Like Akbar, Moulvi Tassaduq Hussein (name changed), who served as the imam at a mosque in Srinagar’s Buchpora locality for the past 32 years, had no option but to leave after he was told by a group of local youth to do so, or face the consequences. The very next morning, Akbar was visited by his landlord who asked him to vacate the premises within 24 hours

The ministry said that the merger is being done to remove existing pillow block ball bearing ambiguities due to multiple laws and rules for Small Saving Schemes and stre-ngthen the objective of "minimum government, maximum governance".The Central governme-nt has proposed to merge Government Savings Certificates Act, 1959 and Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873.It said that apprehension that certain Small Savings Schemes would be closed is without basis. No change in interest rate or tax policy on small savings scheme is being made through this amen-dment," said the ministry. The ministry said this protection would continue under the new law also.It said that all existing protections have been retained while consolidating PPF Act under the proposed Government Savings Promotion Act.Currently, if a PPF depositor defaults on a bank loan, courts cannot attach his or her PPF account to recover the loan.The ministry also said that all relevant provisions of the Government Savings Certificates (NSC) Act, 1959 and the Public Provident Fund Act, 1968 would stand subsumed in the new amended Act without compromising on any of the functional provision of the existing Act..New Delhi: The finance ministry on Tuesday clarified that it won’t water down protection enjoyed by PPF depositors against court attachments and small saving schemes will continue to enjoy current tax benefits and higher interest rates even after amendments proposed in the Union Budget 2018."Apart from offering higher interest rates compared to bank deposits, some of the small savings schemes also enjoy income-tax benefits.  Small saving schemes currently available to people include Post Office Monthly Income Scheme (MIS), PPF, Post Office Time Deposit Scheme, Senior Citizen’s Savings Scheme, Post Office Savi-ngs Account, Kisan Vikas Patra (KVP), National Saving Certificate and Sukanya Samriddhi Acc-ounts among others. The ministry said that new benefits, which are being introduced, will allow premature closure of Public Provident Fund (PPF) accounts in case of health emergency and higher education needs and permit opening of small savings accounts in the name of minor."No existing benefits to depositors are proposed to be taken away through this process," it said