OPINION, P2 The anti-national newspaper! IT’S ALLABOUTTHE ART SUNDAY, MARCH 10, 2019, 16 Pages, `10 (Patna `11, Raipur `10) 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 , Thoughts & laces First time in New Delhi as part of urban street art festival St+art Delhi 2019, Polish artist NeSpoon talks about her love for laces and the mandala pattern to connect people across continents ■ WORDS WORTH, P5 Burning boundaries Line on Fire is a rigorously researched work detailing the skirmishes on the 740-km-long line of control between India and Pakistan Naya Pakistan should show naya action on terror: India PAKISTAN WILL be judged not by words but on basis of the action it takes to dismantle terror infrastructure on its soil, India said on Saturday, asserting that its non-military strike on the Jaishe-Mohammed (JeM) terrorist training camp in Balakot achieved its desired objective, reports PTI. External affairs ministry spokesperson Raveesh Kumar said if Pakistan claimed to be a 'naya Pakistan' (new Pakistan) with a 'nayi soch' (new thinking), it should demonstrate 'naya' action (new action) against terror groups operating with impunity from its soil. The MEA's comments came a day after Pakistan Prime Minister Imran Khan said he would not allow Pakistani soil to be used for terror directed at other countries. Khan has been saying that a 'naya Pakistan' is embarking on a new journey under his leadership. Kumar said Pakistan has been making identical statements after separate terror attacks and now Islamabad will have to take up the concrete action. PAGE 11 PRESS TRUST OF INDIA London/New Delhi, March 9 UK HOME SECRETARY Sajid Javid has certified India's extraditionrequestforfugitive diamantaire Nirav Modi, wanted in the `13,500-crore Punjab National Bank (PNB) fraud case, officials involved with the proceedings in the UK confirmedonSaturday,evenas hewas tracked living openlyin a swanky 8-million pound apartment in London's West End and running a new diamond business. Under the India-UK extradition treaty arrangements, the paperwork is nowwith the district judge at Westminster Nirav Modi spotted in London Magistrates’ Court in London to issue an extraditionwarrant against Modi to be executed by Scotland Yard. TheIndianauthoritieswere informed of the development on Thursday, with officials in London indicating that an arrest warrant against Modi may now be a matter of weeks, moving the extradition request to the next stage. The confirmation of the certification of the extradition request, filed by the Indian authorities inAugust lastyear, came just as The Daily Telegraph reported on Saturday thatithaddiscoveredModiliv- ROHNIT PHORE ARUN NAYAL New Delhi, March 9 ever costs that are reported by the airport operators. They couldbetoohighandunnecesAIRPORT OPERATORS MAY sary.That iswhyit is important soon have to face scrutinyover to know if those costs are fair efficiency of costs incurred at andbecauseultimatelypassentheir aerodromes as the regu- gers have to bearit,”a civil avialator feels some reported tion ministry official said. expenses are high, which burCurrently,airport operators den the passengers. giveanoperatingcostcertificate Airports Economic Regula- to theAERAwhich is considered tory Authority (AERA) is plan- while deciding tariffs across the ning to conduct efficiency airports.Theairporttariffsareset studies,startingwithDelhiand foradurationoffiveyearscalled Mumbai airports, controlperiod. which are due for The regulator The regulator tariff revision from also hopes to fix a wants to April 2019. benchmark for determine if Under the effiideal operating tariffs imposed ciency study, the costs from tariff are just or not regulator wants to determining exerdetermine if costs cise at Delhi and like maintenance Mumbaithatcanbe andlabourarereasonableforfix- applied at other airports. ingtariffs.Airporttariffsmainly “There is a global benchcomprise user development fee mark for costs like these. We (UDF) paid by passengers, and want to have a standard model parking and landing charges for our airports,” the official levied on airlines.At Delhi, for said. AERA is yet to appoint instance, a flat fee of `77 is consultants to conduct efficharged on each departing pas- ciency study at these airports. senger while the carriers pay The official said airlines too `171-228/MT (metric tonne) have raised the issue of high for landing aircraft and operatingcostsatairportswith `7.40/MTasparkingfee. the ministry. “Sofar(fortariffdetermination)wehavebeentakingwhat- Continued on Page 11 Auto component firms’ revenues also slide as vehicle sales slow down AS VEHICLE SALES continue to remain in the slowlane,several autocomponentcompaniesare witnessing a sluggish demand fromthemanufacturers,which isdraggingdowntheirrevenues and profitability. The advance order inflow by auto companies have fallen H Y D E R A B A D , K O C H I , ● UK home secy certifies India's extradition request even as Modi found living in London and running diamond business there Airports to soon face efficiency audits QuickPicks RIDE’S NOT SO SMOOTH ■ Passenger vehicle and two-wheeler demand has been dwindling since August READ TO LEAD K O L K A T A , L U C K N O W , Nirav Modi’s arrest warrant could be matter of weeks ■ LEISURE, P9 PRITISH RAJ New Delhi, March 9 While Gully Boy rakes in the moolah, rappers and hip-hop artistes in the country still strive to be recognised Page 7 PNB SCAM WHAT'S INSIDE ● Owing to decline in demand by car manufacturers SPOTLIGHT A RAP FOR CHANGE FINANCIAL EXPRESS ON SUNDAY NEW DELHI ‘One surgical or aerial strike may not force Pak to stop aiding terror. But we have raised the costs’ Page 4 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL .XVIII NO.19 ODD & EVEN Gautam Bambawale New luxury buildings are providing gallery-like residences for collectors who want to live with their art Page 10 ACROSS THE AISLE , P CHIDAMBARAM P U B L I S H E D IDEA EXCHANGE MIND & GAMES ■ Commercial vehicle volumes fell due to increase in axle load limit significantly since October compared to the previous months,impacted bymoderation in vehicle demand across ■ For most auto component makers, India revenues either declined or stayed virtually flat categories in the domestic as well as overseas markets, say industry sources. “Orders from manufactur- ers such as Hero MotoCorp and TVSMotorCompanyhavegone down by around 20% since Novemberlastyearand as such our operating revenue has also seenasignificantdecline,”Amit Kothari,joint MD,KayJayForgings, which supplies forging partsandprecisionsheetmetal components,told FE. Nishant Arya, executive director, JBM Group, said the demand from manufacturers in the second half of FY19 is subdued and on an year-onyear basis the order inflow is flat.“We have seen a hit of 58% during the October-January period,”he said. Continued on Page 11 THE DAILYTELEGRAPH ing openly in the heart of London and running a new diamondbusinessjustyardsaway. Modi,48,wastrackeddown to a three-bedroom flat occupyinghalfofafloorofthelandmark Centre Point towerblock of luxury apartments, where rent is estimated to be around 17,000 pounds a month, the newspaper reported. The Indian High Commission in London had confirmed in August 2018 that India had handed in the extradition request documents for Modi, whichhavebeenunderconsideration by the UK government since then. The UK Home Office on Saturday refused to comment on“individual cases”and indicated that anyextradition proceedings can go ahead only after an extradition warrant hasbeenissuedforthearrestof the accused, as was the case with liquorbaronVijayMallya. The 63-year-old former KingfisherAirlines boss,wanted for fraud and money laundering charges in India, had surrendered to Scotland Yard following such a warrant in April 2017 and is now undergoing an appeal process against his extradition order by Javid, the senior-most Pakistani-origin minister in the UK Cabinet. Reacting to the reports, the external affairs ministry said Saturday the government is taking all steps to extradite NiravModifromtheUK,assertingthattheextraditionrequest made to that country shows thatIndiawasawareheisthere. Even the Enforcement Directorate confirmed Saturday that UK’s home secretary has referred India's request for extraditing Modi to a court for initiating legal proceedings against the diamantaire. Continued on Page 11 M U M B A I , N E W D E L H I , P U N E India gears up for costliest LS polls ● BJP alone likely to spend thrice on advertising in 2019 compared to around `350 cr in 2014 ANKITA RAI New Delhi, March 9 Total ad spend : Around `5,000 cr Likely share (%): WITH STAKESVERY high forall political parties in the upcoming Lok Sabha elections, the polls are expected to be the most expensive ever in terms of media and advertising spends, besides being the highly contested, as parties pull out all the stops. While the total advertising spends on general elections this year is expected to be `5,000 crore,the actual figure spent on the elections overall could touch almost `30,000 crore,say experts,if the cost of OOH (out-of-home) and onground activities is included. “`5,000 crore is the transparent figure reported bypolitical parties to the Election Commission. But if we include the cost of rallies, transportation, handouts,etc,the real number will be closer to `20,000- Radio Digital OOH TV and 10 15 25 print 50 `30,000 crore,” says Bindu Balakrishnan, country head, India, DCMN, a full stack marketing company. Compared to the previous generalelectionsin2014,there mightbemuchmorefervourto political advertising in 2019. Balakrishnansaysaccording to numbers submitted to the Election Commission in 2009, the BJP and Congress together spent around `790 crore. Continued on Page 11
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