LATECITY, 20 PAGES, AHMEDABAD, `3.00 ● WEDNESDAY, FEBRUARY 7, 2018 ● WWW.INDIANEXPRESS.COM TheIndian EXPRESS DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE SENSEX RECOVERS AFTER LOSING 1275 PTS, WALL STREET REVIVES Global crash has market tottering, Rs 2.7 lakh crore wiped out in a day Fall not due to new capital gains tax: Finance Secy ENS ECONOMIC BUREAU MUMBAI, FEBRUARY 6 STOCK MARKETS in India and across the world tumbled Tuesday after steep losses on Wall Street slashed the Dow Jones industrial average by 4.6 per cent, its biggest loss in six-and-half years. As the Sensex sunk by 1,275 points at one stage, amid lingering concerns over the RBI’s monetary policy to be announced Wednesday, an estimated Rs 2.7 lakh crore of wealth was wiped out in the day’s session. The benchmark managed to recover partially and close with a loss of 561 points at 34,195.94. By late Tuesday, the battered Dow Jones also showed signs of stabilising with the index staging an intra-day rally of around 600 points at one stage before giving up the gains in volatile trading. By 11.45 pm IST, the Dow was up by 93 points, or 0.38 per cent, at 24,438.88. Earlier, as investors fretted over rising bond yields and the interest rate hike in the US, the Dow suffered its worst fall by points in history, wiping out all of its gains this year. MP responds to Odisha SOS: Two tigers to be relocated SOWMIYA ASHOK NEW DELHI, FEBRUARY 6 A TIGERreserve in Odisha, on the brink of becoming tiger-less, has managed to convince Madhya Pradesh to help “re-stock” by relocating a pair of tigers from Bandhavgarh National Park. The 963 sq-km Satkosia Tiger Reserve in Odisha presently has only two old tigers — a male and a female, both over the age of 13. “They may die anytime because they are beyond productive age,” Director General of Forests Siddhanta Das said. “Hopefully, by this year, two pairs (of tigers) will be introduced there.” For now, only a pair is to be relocated. Earlier, the Odisha government had written to other states with overpopulated tiger reserves, asking if they could spare a few of the big cats. Apart from Satkosia, the western part of Rajaji National Park in Uttarakhand and West Bengal’s Buxa National Park, “need restocking”, Vaibhav C Mathur, National Tiger Conservation Authority Assistant Inspector General of Forests, said. “The Chief Wildlife Warden of Madhya Pradesh has agreed CONTINUED ON PAGE 2 GUJARAT NEW DELHI, FEBRUARY 6 THE CONTINUING fall in stock markets is linked to a global selloff and not the levy of Long Term Capital Gains (LTCG) tax, which was reintroduced in this Budget after a gap of 14 years, according to Finance Secretary Hasmukh Adhia. Adhia also said that it was not a good idea to leave one class of assets completely out of the tax net as that would lead to people parking funds in the asset where there is no tax incidence. Speaking at a post-Budget meet held by PHD Chamber of Commerce and Industry Tuesday, the Finance Secretary warned that rise in asset valuations not backed by fundamentals is a potential risk for investors, particularly small investors. CONTINUED ON PAGE 2 DECODING BUDGET Rajiv Kumar, NITI Aayog Vice-Chairman , with The Indian Express National Editor (Policy) Shaji Vikraman and National Bureau Chief Ravish Tiwari in Mumbai, Tuesday. Prashant Nadkar PAGE 13 “While the concern over the LTCG (long-term capital gains) tax continues, the correction on Tuesday was driven more by a spike in global bond yields,” said Vaibhav Agrawal, head of research, Angel Broking. “There were precautionary calls for early margins but that was more CONTINUED ON PAGE 2 Collegium nod for HC judge’s elevation: Govt In UP, 33 test HIV-positive after single syringe may ask SC to rethink fake doctor usespromised ‘magic cure’ for Rs 10 Hunt for Unnao quack who WASHED SYRINGE WITH WATER AFTER EACH USE Many senior to Uttarakhand CJ, say officials; he quashed President’s rule MAULSHREE SETH BANGARMAU (UNNAO), FEBRUARY 6 RAVISH TIWARI Uttarakhand High Court Chief Justice K M Joseph NEW DELHI, FEBRUARY 6 UTTARAKHAND HIGH Court Chief Justice K M Joseph’s elevation to the Supreme Court was recommended by the Collegium almost a month ago. But The Indian Express has learnt that the government, citing “disregard for seniority and regional representation”, may consider returning the recommendation to the Collegium for “reconsideration”. Incidentally, it was a bench headed by Chief Justice Joseph which, in April 2016, left the Centre red-faced when it quashed imposition of President’s rule in Uttarakhand and revived the Congress government of Harish Rawat, directing him to prove his majority on the floor of the House. On January 10 this year, the five-member Collegium, com- prising Chief Justice of India Dipak Misra and Justices J Chelameswar, Ranjan Gogoi, Madan B Lokur and Kurian Joseph, recommended Chief Justice Joseph’s elevation to the Supreme Court. It also approved the name of Senior Advocate Indu Malhotra for appointment as a judge of the Supreme Court — the first woman lawyer to be directly elevated to the Supreme Court from the Bar. Sources familiar with deliberations within the government on the latest recommendations of the Collegium said: “Are we going to give seniority and regional representation the go-by CONTINUED ON PAGE 2 FOR AT least a year, Rajesh Yadav went from house to house across three villages in Unnao on his cycle with the promise of “magic” treatment — an injection and teen puriya (three packets) — for just Rs 10. Yadav administered this treatment to at least 50 people a day but with the same syringe, washing it with water before injecting the next patient. Locals in Bangarmau preferred his treatment, which they said was cheaper than government medicine, but the district health department has registered an FIR against Yadav. A recently concluded probe found at least 33 residents of these villages tested HIV positive and officials believe Yadav’s injection with the same syringe caused a spike in infections over the last 10 months. All residents who tested HIV positive have been referred to The ‘clinic’ where Rajesh Yadav injected patients. Maulshree Seth the Anti-Retroviral Therapy (ART) centre in Kanpur. Unnao Chief Medical Officer (CMO) SP Chaudhary told The Indian Express that 33 HIV positive cases were identified in three health camps held on January 24, 25 and 26 in Premganj, Chakmirpur and Kirwidiyapur. 566 people were tested in the camps and, accord- ing to Chaudhary, 46 HIV cases were reported from the region in the last few months. The FIR was registered on January 31 by Dr Pramod Kumar Dohrey, Medical Superintendent of the Bangarmau Community Health Centre. Yadav is yet to be arrested. Dohrey said a spike in HIV CONTINUED ON PAGE 2 Militants kill 2 cops in Srinagar hospital, free LeT man NAVEED IQBAL SRINAGAR, FEBRUARY 6 3 ENS ECONOMIC BUREAU TWO POLICEMEN were killed at Srinagar’s Shri Maharaja Hari Singh Hospital Tuesday after militants opened fire on a police team accompanying detainees from the Central Jail to the hospital for a medical check up, police said. A top Lashkar-e-Toiba (LeT) commander, Naveed Jat alias Abu Hanzulla, escaped from police custody during the attack. Director General, Jammu and Kashmir Police, SP Vaid told The Indian Express: “At least two or three militants were involved in the incident. We are maintaining high alert and we will go after them till we neutralise them.” The police officers killed were identified as Head Constable Mushtaq Ahmad from Kupwara in North Kashmir and Constable Babar Ahmad from Anantnag in the South. A senior police officer said all angles, “including whether there was an inside hand”, were being probed. “The detainees brought to the hospital were referred to different departments and were MSMES THREATEN TO SHIFT BUSINESSES TO MADHYA PRADESH VINAY SIWACH NIRUPAMA SUBRAMANIAN & SHUBHAJIT ROY NEW DELHI, FEBRUARY 6 REACTING STRONGLY to the deepening crisis in Maldives, India on Tuesday said it was “disturbed” by the “state of emergency” imposed by President Abdulla Yameen and expressed “concern” over the arrests of Supreme Court Chief Justice Abdulla Saeed and former president Maumoon Abdul Gayoom. However, official sources told The Indian Express that while the government is mapping out its next steps, sending Indian troops to the island nation is not an option. On Tuesday, Sri Lanka-based Maldivian Democratic Party opposition leader and former president Mohamed Nasheed tweeted a “humble” request to India, “to send an envoy, backed by its military, to release judges and political detainees”. But sources said New Delhi is clear that this is “not going to happen”. CONTINUED ON PAGE 2 Former President Abdul Gayoom is taken into custody in Male. AP 10 THE EDITORIAL PAGE Why India must act now in Maldives By MOHAMED NASHEED International press award for Express Investigations Editor EXPRESS NEWS SERVICE NEW DELHI, FEBRUARY 6 THE PRESTIGIOUS International Press Institute India Award for Excellence in Journalism, 2017 has been awarded to Ritu Sarin, Executive Editor (Investigations) of The Indian Express, for outstanding work in investigative journalism during her career. This is the fourth IPI India award for The Indian Expressand its journalists. The award, comprising a trophy, citation and cash prize of Rs 2 lakh, will be presented to Sarin by Justice R M Lodha, former ChiefJustice ofIndia, at a function in New Delhi on February 23, the Vienna-based institute’s India Chapter co-coordinator K S Sachidananda Murthy said in a press release Tuesday. Sarin has been selected for her “sustained work in investigation ofcrimes, political assassinations, terrorism cases, frauds and economic offences during her journalistic career, including leading The Indian Express investigation team into the Indian accounts and account-holders mentioned in Ritu Sarin led the Express team on Panama Papers Panama Papers during 2016”. The Indian Express, in collaboration with the International Consortium of Investigative Journalists, had reported on Indians named in the Panama Papers, a trove of 11.5 million documents pertaining to 214,488 offshore entities linked to Panama-based law firm Mossack Fonseca. The team, comprising Sarin, National Affairs Editor P Vaidyanathan Iyer and Associate Editor Jay Mazoomdaar, spent eight months investigating over 500 Indians named in the leaked CONTINUED ON PAGE 2 ● PAGE ONE ANCHOR BUSINESS AS USUAL Policemen at the SMHS Hospital in Srinagar; militant Naveed Jat who fled. Shuaib Masoodi not together during the incident,” said the officer. Jat was with three policemen near the hospital’s OPD when militants opened fire. Jat, a resident of Chak No 421, district Vehari in Pakistan’s Multan was arrested in Kulgam in 2014 and was then LeT’s district commander and a close associate of Abu Qasim and Abu Dujana — both LeT Kashmir chiefs — who were subsequently killed by security forces. According to police records, Jat had joined LeT in 2011 and CONTINUED ON PAGE 2 Maldives crisis: India looks at sanctions, not boots on ground NOT QUITE KHELO INDIA: ONLY 3 WRESTLERS IN ONE EVENT, ALL WIN NEW DELHI, FEBRUARY 6 BY UNNY “MASS PARTICIPATION” and “promotion of excellence in sports” — these are the twin objectives of the Ministry of Youth Affairs and Sports behind the first Khelo India School Games (KISG), which began here on January 31. But last week, the 42-kg freestyle wrestling event for boys saw just three entries, ensuring a podium finish for all of them. In most other weight categories too — both boys’ and girls’ wrestling — there were only about 8-12 participants. The boys’ 46-kg freestyle wrestling fared the best, with 16 participants. While KISG and the Wrestling Federation of India (WFI) blamed each other for the low turnout, former School Games Federation of India (SGFI) president Satpal Singh said, “Khelo India is a very good scheme... To get the best results, it should be conducted responsibly... It ensures the future of a player, but we need to ensure that the player receives his money and there is no misuse.” Each discipline at the nineday event has a designated talent-hunt committee, which has been assigned the responsibility of picking the top two sportspersons who will each be entitled to a Rs 5 lakh annual scholarship for eight years. Khelo India CEO Sandeep Pradhan said the 42-kg boys’ event was reduced to a threeway race for gold, silver and bronze since the WFI didn’t have time to hold fresh national championships. “WFI held the national championships in March 2017. They sent us the list of participants, All categories in wrestling saw few participants but closer to our event, many of the wrestlers had moved up in weight. Since WFI did not have time to conduct fresh nationals, the category suffered,” he said. Asked why most of the other weight categories too had less than 12 wrestlers, Pradhan added: “Both SGFI and WFI told us that these are new weight categories introduced by the international federation, so sending wrestlers in those categories would be difficult.” The WFI, in turn, blamed the KISG, saying it didn’t allow participation of wrestlers approved by them. “WFI had sent the names of 136 wrestlers, but about 100 could not participate because KISG said we had delayed the list,” said WFI secretary general V N Prasood. On January 31, the first day of the event, many grapplers were turned away from the venue since their names didn’t figure on the official KISG list of participants. Confusion over the last date for entries and lack of communication between KISG and WFI are seen as the primary reasons for the depleted wrestling draws. Initially, the first of its kind CONTINUED ON PAGE 2
Indian Express Limited is an Indian news media publishing company. It publishes several widely circulated dailies, including The Indian Express and The Financial Express in English, the Loksatta in Marathi and the Jansatta in Hindi.