Below the line

Russian President Vladimir Putin, who visited India earlier this month, had categorically asked the Indian government not to organise a ceremonial welcome for him.

Instead of spending hours being greeted with much fan-fare and watching cultural programmes organised in his honour, Putin preferred to spend a quiet evening dining and chatting with Prime Minister Narendra Modi.

According to a government official in charge of the visit, “The fact that the Russian President wanted to dispense with all formalities shows that he is completely at ease with us and regards us as his friends.”

True, but one could also say that it reflects Putin’s single-minded dedication to achieving his objective, which in this case was sealing the S-400 missile deal!

Masayoshi Son’s announcement that SoftBank will offer free power has sent the solar power sector in frenzy. And rightly so, with some players questioning the logic whether these panels will survive for 25 years, and others seeing it as a ploy to pass on the maintenance costs of aged projects to governments.

One player also pointed out that since the land is leased by the project developer for 25 years (the duration of the power purchase agreement), the project will de-facto belong to the government after the period lapses. Another said that this could be a ploy to drive up bid costs immediately in the pretext of offering free power later.

At the first International Solar Alliance assembly held here at Greater Noida, India was criticised for its dominant stand on the alliance’s direction.

Some African countries even voiced their concerns over the proposed ISA Work Plan 2019 noting that they were not taken into confidence when it was being finalised. And this is what New Delhi had to say, according to those present in the meeting – “there will be more inclusivity and representatives from countries left out will be added to a WhatsApp group to ensure more communication.”

The environmental action plan for Western Ghats proposed by an expert panel headed by noted ecologist Madhav Gadgil a few years ago should be the corner stone for rebuilding Kerala which recently witnessed one of the worst floods in its recent history, says a disaster management expert associated with the United Nations.

Muralee Thummarukudy, Chief of Disaster Risk Reduction at the United Nations Environment Programme, while addressing a media workshop in the Capital last week, not only said the recommendations of the Gadgil panel, which the previous UPA government refused to accept on account of protests by the Western Ghat States, is one of the best plans that he has come across considering the powers that have been vested in local gram sabhas to decide on restrictions to be undertaken for environmental protection. Instead of grabbing such a plan with both hands, politicians of all hues in Kerala portrayed the affable ecologist, of great international repute, as a “beast”, he said.

Now that insurance regulator IRDAI has reportedly indicated that it was in favour of allowing 100 per cent foreign ownership in insurance broking entities, the scene has shifted to the corridors of power in the Capital. All eyes are on the Centre to see if it would bite the reforms bullet on this front. The only hitch, according to some legal pundits, is that any such move may require amendment to the Insurance Act and therefore Parliament nod. Remember, insurance is probably the only sector where foreign investment limit is prescribed in the statute itself. With less than a year to go for 2019 general elections, don’t be surprised if the Centre goes in for upping the FDI limit in insurance (non broking) entities to say 74 per cent or even 100 per cent, feel many supporters of this ruling dispensation. FDI in insurance sector is currently capped at 49 per cent.

Our Delhi Bureau

COMMENT NOW