OPINION, P2 MIND & GAMES Revisiting Jammu and Kashmir IDEA EXCHANGE FIBRE IS GOOD FOR YOU. NOW SCIENTISTS MAY KNOWWHY Ashok Gehlot A series of unusual experiments in mice finds that dietary fibre fine-tunes the immune system and may help prevent chronic inflammation Page 10 ACROSS THE AISLE, P CHIDAMBARAM Vol XIV No. 19 Follow us on Twitter & Facebook. App available on App Store & Play Store 'In villages, urban areas, people sit on one side, Dalits in another corner. No one discusses this' Page 4 WWW.FINANCIALEXPRESS.COM SPOTLIGHT SWEET DEAL KOLKATA SUNDAY, JANUARY 7, 2018 12 Pages, `8 (NE States & Andaman `13) LEISURE CLICKTO FUTURE FINANCIAL EXPRESS ON SUNDAY READ TO LEAD PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE REVIVAL MODE FE BUREAU New Delhi, January 6 WORDS WORTH JEFF KOEHLER The author of Where the Wild Coffee Grows tells us about the threats to our morning cup of joe Page 5 FINANCE MINISTER ARUN Jaitley on Saturday said greens hoots of an economic recovery are visible and asked stressed public sector banks (PSBs) to get theiract togetherand get back to shape at the earliest,so that they can support growth through improved lending. The Central Statistics Organisation on Friday forecast that the country’s growth could drop to a four-year low of 6.5% in the current financial year. However, it projected the gross domestic product(GDP)toriseto7%inthe second half of this financial year, against 6% in the first half when the impact of structural changes like the Goods and Services Tax (GST) and demonetisation had weighed on growth. Exhorting PSBs to rebound from the current stress, the financeministersaidthetaxpayers and the government are doing their bit to keep them in good shape and that’s why a massive (% rise, y-o-y) 12.0 10.5 7.5 6.0 — ARUN JAITLEY, Finance minister `2.11 lakh crore package was announced for capital infusion into them.This unprecedented move in late October has driven up credit growth,Jaitleysaid. “The taxpayers are making a sacrificetokeepthebanksingood health.... In the next few years, your performance is on test.I am sure the banks will come out of thetransientchallengesstronger,” Jaitley said here at the Platinum jubilee celebration of UCO Bank. Around a half of PSBs are alreadyunderpromptcorrectiveac- I-T dept relaxes norms for MAT on firms facing insolvency THE INCOME tax department on Saturday relaxed norms for levy of minimum alternate tax (MAT) on companies facing corporate insolvency proceedings, reports PTI. Under Section 115JB of the Income Tax Act, MAT is levied on book profit after deducting the amount of loss brought forward or unabsorbed depreciation, whichever is less. “With effect from assessment year 2018-19 (FY2017-18), in case of a company, against whom an application for corporate insolvency resolution process has been admitted by the adjudicating authority under...the IBC, the amount of total loss brought forward (including unabsorbed depreciation) shall be allowed to be reduced from the book profit for the purposes of levy of MAT under section 115JB of the Act," it said. ROHNIT PHORE tion by the Reserve Bank of India (RBI). Earlier this week, the government sought Parliamentary approval to issue the recapitalisation bonds of `80,000 crore this financial year.As per the plan, of the total recapitalisation package of `2.11 lakh crore overtwoyears through FY19, the government will infuse as much as `1.35 lakh crore through such bonds. Commenting on economic growth,Jaitley said India is growing at a reasonable pace and that it’s probably the only large econ- FE BUREAU Mumbai, January 6 CM Devendra Fadnavis said the state would be a hub for 'industrial innovation and smart manufacturing' innovation and smart manufacturing”. He added, “With our maiden global investment summit,we aim to strengthen Maharashtra’s position as the gateway for all industrial investments in India where the best minds, industries and government machineries converge to co-create.” Continued on Page 11 Reality shows: Battling the fatigue Broadcasters and producers feel the need to bring in newer genres of reality formats to combat the fatigue factor CHANDNI MATHUR January 6 IN 2000, AMITABH BACHCHAN and Star India heralded a new wave in non-fiction contentwith the launch of the quiz showKaun Banega Crorepati (KBC). Until then, saas-bahu sagas ruled the roostwith the occasional singing reality shows Saregama and Antakshari whetting the appetite for familyviewing. Given that viewers today are spoilt for choice, one must be smart enough to understand their pulse and tweak the con- ON TUESDAY THE REEL AND ‘REAL’ FORMULA tent accordingly,states Manisha Sharma, programming head, Colors.“Ashow like Bigg Boss has been on for11 seasons; it is upon us to entice the audience with fresh thoughts each time.” Last year, the show tweaked the format to include commoners and became a hit.Likewise,for a seri- ous stunt-based show like Khatron ke Khiladi, the channel infused some humour to bring in freshness. Now, consider KBC. Running successfully for 15 years, the show hit a bump in 2015 when the format of question and answerfailed to enticeviewers.The show was forced to take a break for over a year and returned in 2017with an interactive piece to engage with audiences, and it propelled Sony Entertainment Television (SET) to the top of the charts during the course of its airing. Ashish Golwalkar, SVP 7.2 Oct 28, 2017 Dec 22, 2017 Source: DFS Maha unveils plans to become ‘future-ready’ THE MAHARASHTRA GOVERNMENT on Saturday announced its plans to host a global investment summit, the first such event to be held in the state, in a bid to attract foreign investment.The summit: ‘Magnetic Maharashtra: Convergence 2018’, will be held between February 18 and February 20 in Mumbai. With the proposed event, Maharashtra joins a long list of states that have organised investment summits.The Vibrant Gujarat Investment Summit, anchored for manyyears by present Prime Minister Narendra Modi, has been perhaps the most prominent of all such events. Speaking at the curtain raiser event, chief minister Devendra Fadnavis said the government is focusing on building a “future-ready” state, which would be a hub for “industrial 10.7 9.0 GLOBAL INVESTMENT SUMMIT QuickPicks ODD & EVEN ❝ This is the second time that Lalu Prasad has been jailed in the fodder scam FILE PHOTO Credit growth Taxpayers are making a sacrifice to keep banks in good health.... In a few years, your (banks’) performance is on test PHOTO: NIRMAL HARINDRAN Page 9 Investment guru Mobius to retire after 30 years Green shoots visible, but PSBs need to do more: FM ● Jaitley says credit growth took off following bank recapitalisation What will the future generations see of the present day? A digital installation by Google seeks some answers Can stevia, a sweetener and sugar substitute, be a safe substitute for sugar? Page 7 and senior creative director, Sony Entertainment Television, reveals,“KBC was almost dead in the last season and it did not work well in terms of monies or ratings. So we took a break and kept the core of the format the same and infused some fresh elements of interactivity. Strong formats don’t come with an expiry date if they are willing to change.” Myleeta Aga, SVP and GM, South East Asia and South Asia, BBC Worldwide, highlights that audiences like two things — familiarity and difference.The familiarity of a format brings them comfort as you don’t want to work hard to understand it when watching TV, yet it should be fresh. For example, Dancing with the Stars just ran its 25th season in the US and 20th season in the UK. In other markets like Indonesia, Japan, etc there are shows that have been going on forever as well. Continued on Page 11 omyto have dared to effect major structuralchangesevenwhenthe global economy was going through turbulent times. “Thosestructuralchangescan create a transient hiatus in an economyandpossiblyshort-term challenges.As soon as those challenges get over,the growth curve starts moving up.And we can see the green shoots....” Financial services secretary Rajeev Kumar expressed confidence that the stressed PSBs will turn the cornerat the earliest. Fodder scam: Lalu jailed for 3½ years ● Special CBI court also fines RJD chief `10 lakh PRESS TRUST OF INDIA Ranchi, January 6 ASPECIALCBIcourtonSaturday sentenced RJD chief Lalu Prasad to three-and-a-half years in jail andimposedafineof`10lakhon himinafodderscamcaserelating to fraudulent withdrawal of `89.27 lakh from the Deoghar Treasury21years ago. The punishment was handed down to 69-year-old Prasad by CBI court judge Shiv Pal Singh. Thisisthesecondtimethathehas been jailed in the fodderscam. The judge also imposed a fine totalling `10 lakh on him. He was sentenced to threeand-a-halfyears in jail in a fodder scam case for offences of cheating,alongwith criminal conspiracy,and othersections underthe Indian Penal Code (IPC). Prasad was also given a jail term of three years and six months in the case under the Prevention of Corruption Act (PCA). Hewas fined `5 lakh each undertheIPCandthePCA,CBIcounsel Rakesh Prasad said, adding that failure to pay the fine would entail another six months in jail. The sentences will run concurrently,he said. Prasad,who was convicted in the second case on December 23, is at present lodged in the Birsa Munda Central Jail. Continued on Page 11 Mark Mobius BLOOMBERG Lima/Boston, January 6 VETERAN INVESTOR MARK Mobius,the bald-headed market guru who became one of the most recognised authorities on money-making opportunities in Africa,Asia, Eastern Europe and Latin America, plans to retire from Franklin Templeton Investments afterthree decades at the firm. The company announced his retirement,effective January 31. After accepting a job offer from moneymanagerJohnTempleton in 1987, Mobius headed one of the first emerging-market equity fund available to US customers. “My idea of a bargain is, by the way, not very complicated,” he wrote in‘Passport to Profits’, his 1999 book. “I buy stocks in companies with good growth potential over a fiveyear period.”
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