OPINION, P8 SUNIL JAIN COMPANIES, P6 A big Aadhaar win, but some losses that govt can fix INTERNATIONAL, P14 EDITORIAL TACKLING TURBULENCE TESTIMONY TO US SENATE PANEL Minor govt victory in promotion quotas for SC/ST, other Nagaraj restrictions remain Talks on AI bailout package at advanced stage, says Sinha Pichai-led Google to acknowledge privacy mistakes NEW DELHI, THURSDAY, SEPTEMBER 27, 2018 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL.XLIV NO. 179, 20 PAGES, `6.00 (PATNA `6.00, RAIPUR `7.00) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E READ TO LEAD SENSEX: 36,542.27 ▼ 109.79 NIFTY: 11,053.80 ▼ 13.65 NIKKEI 225: 23,940.26 ▲ 70.33 HANG SENG: 27,816.87 ▲ 317.48 `/$: 72.62 ▲ 0.08 `/€: 85.28 ▲ 0.36 BRENT: $81.28 ▼ $0.59 GOLD: `30,672.00 ▼ `56.00 ACTION STATIONS Cabinet dials it up on telecom, sugar IN THE NEWS Quota in job promotions stays THE SUPREME COURT on Wednesday said its 2006 verdict putting quota benefits in job promotions for SC & ST employees need not be referred to a 7-judge bench, reports PTI. It also junked the Centre's plea that the overall SC/ST population be considered for granting quota. New telecom policy unclear on paring fees; sugar package to soften FRP blow FE BUREAU New Delhi, September 26 THE CABINETON Wednesday approved a newtelecom policy — the National Digital Communications Policy (NDCP) — that aims to attract $100 billion investment in the sector by 2022 and increase highspeed broadband penetration several times over. It also unveiled a newpackage forthe Sops worth `5,538 crore for sugar farmers and mills to address glut and encourage exports GST Network to be 100% government-owned against 49% now A new domestic terminal to be built at Patna airport at a cost of `1,217 crore beleaguered sugar industry, which is struggling to clear record cane arrears and facing thespectreofaworseningglut. The NCDP seeks to “rationalise”levies such as spectrum chargestorejuvenatethedebt- Farmers to be given `13.88 per quintal of cane; an aid of `1,0003,000 per tonne of sugar for mills for transporting the sweetener locally for exports A broad-gauge electrified rail line to be built from Katghora to Dongargarh in Chhattisgarh at a cost of `5,950 crore ridden telecom sectorand provide broadband access to all with 50 megabits per second speed, 5G services and create 40 lakh new jobs by 2022. Continued on Page 2 SC ‘ erifies’ Aadhaar It is better to be unique than the best. Because, being the best makes you the number one, but being unique makes you the only one — SUPREME COURT WINS Constitutionally valid Doesn't violate right to privacy Won't lead to surveillance state PAN-Aadhaar linking allowed Aadhaar must for filing I-T returns CHANGES MADE LOSSES Can't link bank accounts — may lead to use of fake PANs to open accounts. Govt will have to come up with law to fix this Can't link mobile numbers No NEET, UGC, school admissions, etc, using Aadhaar ■ Section 33 (2) struck down; Aadhaar data cannot be shared with govt on grounds of national security ■ Section 47 struck down; individuals now allowed to report any incident of data breach, not just UIDAI ■ Section 57 struck down; private parties can't seek Aadhaar identification for access to their services — this will hit fintech firms, among others RUPEE DEFENCE Customs duty hiked on 19 products FE BUREAU New Delhi, September 26 INTERVENINGTO SUPPORTa falling rupee, the government on Wednesday increased the import taxes (basic customs duty) on 19 items ranging from white goods, gold jewelleryandaviation turbine fuel to footwearand certain plastic items by 2.5 to 10 percentage points. The move covering goods whose aggregate imports last fiscal were `86,000 crore could jack up the prices of these goods in the domestic market and make air travel costlier. While many of these items like air conditioners and refrigeratorssawareductionin the goods and service tax (GST) rates recently, domestic What could get costlier… Basic customs duty (%) Earlier Air conditioners Refrigerators Washing machines* Gold jewellery Diamonds^ Aviation turbine fuel Footwear Radial car tyres Certain plastic items 10 10 10 15 5 0 20 10 10 New 20 20 20 20 7.5 5 25 15 15 *Less than 10 kg ^semi-processed etc Source: Ministry of finance manufactures could now use reduced competition from imports to hike prices, analysts said. Continued on Page 2
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