Daily Archive: March 27, 2017

YogiAdityanath impact: BPL homes to get free power in UP, others to get 100% financing option

All below poverty line (BPL) households in the urban and rural areas of Uttar Pradesh will get free power connection while those above poverty line (APL) will be given 100 per cent financing option with easy EMIs. These decisions were taken today after a marathon meeting between Union Power Minister Piyush Goyal and Uttar Pradesh Energy Minister Shrikant Sharma, which lasted over 3 hours, a Power Ministry statement said.

Towers will be demolished if built without proper sanction: Supreme Court

The Supreme Court today said if the two 40-storey residential buildings of Supertech’s Emerald Towers in Noida were constructed without a proper sanction, these would be "demolished". "The buildings, if built without a proper sanction, will be demolished," a bench comprising Justices Dipak Misra and A M Khanwilkar said. It was hearing pleas against the Allahabad High Court’s April 11, 2014 verdict ordering demolition of the two 40-storey residential twin towers -Apex and Ceyane – in Noida and directing Supertech to refund money to homebuyers with 14 per cent interest in three months.

Finance Bill makes taxmen too strong, Govt snooping on people : Opposition #loksabha #rajyasabha

New Delhi, March 27 (IANS) It is time the Parliament revisited the Constitution’s Article 110 in order to lift the veil of ambiguity from over the definition of a money bill, CPI-M leader Sitaram Yechury said on Monday.

“Time has come for us to revisit Section 3 of Article 110 of the Constitution which gives this right to Speaker of Lok Sabha to decide whether a bill is a money bill or not,” Yechury said during a discussion on the Finance Bill 2017 in Rajya Sabha.

Article 110(1) defines what is a money bill and Article 110(2) what is not a money bill, but Article 110(3) holds if any question arises whether a bill is a money bill or not, “the decision of the Speaker of the House of the People thereon shall be final”.

The Communist Party of India-Marxist (CPI-M) General Secretary however contended that this right does not negate what has been said in Articles 110(1) and 110 (2) “but that is exactly what is happening today”.

“This negation is allowing this sort of subterfuge and smuggling of non-tax proposals and changes into them into the Finance Bill whereby fundamental issues are going to be amended, enacted, legislated without the opinion and concurrence of this House. This is anti-constitutional,” he said.

Yechury demanded that the upper House “must return the Finance Bill 2017 bill to Lok Sabha with a very serious concern saying you reconsider these aspects and non tax matters should be deleted from the bill”.

He said that at least 40 new legislations were being “smuggled in” through the Fiance Bill.

“I think this is an effort to undermine the very institution of parliamentary democracy. By smuggling non-financial matters into the Finance Bill, defining it as a money bill thereby depriving the Rajya Sabha of its right to discuss these matters is actually undermining the entire Constitutional scheme of things,” he said.

The BJP does not have a majority in the Rajya Sabha and it is difficult for the government to win its backing for any contentious legislation.

However, the Rajya Sabha has no power to amend any money bill, and can only send it back to Lok Sabha for reconsideration with its suggestions which are not binding on the lower house.

The opposition has been alleging for some time now that the Narendra Modi government has been taking the money bill route as frequently as it can to evade the upper House where it is in minority.

“It is an unconstitutional Bill that has been brought. We are seeing the revival of the inspector raj of the worst form,” said Yechury.

Yechury also strongly objected to the provision in the Bill that makes it compulsory to give Aadhaar for filing income tax return (ITR).

“Why are you saying today that Aadhaar is required for me to file my ITR? Why do I have my PAN card at all then?” he asked, adding that if the government wants to make Aadhaar compulsory, it should bring a straightforward bill saying as much.

“If you want to make it compulsory, bring a bill saying Aadhaar is compulsory. Why this subterfuge? Why do you want to smuggle it into the Finance Bill? Have the courage to bring a straightforward bill,” Yechury said.

“This Aadhaar insistence is leading up to the creation of a surveillance state in India. It is violative of my fundamental right to liberty. My privacy is being violated by this Aadhaar. Anybody with my Aadhaar number can access all my details including financial and personal details,” he said.

Cyclonic storm hits Arunachal Pradesh, massive damage to buildings

A cyclonic storm accompanied by heavy rain lashed Deomali in Tirap district of Arunachal Pradesh causing massive damages to several dwellings and uprooting many trees. The cyclone yesterday also snapped power supply lines and it may take some time to restore electricity, official reports said today. Several roads in and around Deomali have been blocked by the uprooted trees and the local administration and police have swung into action to clear the roads.

Online Health and Wellness Venture, MyDermacy raises a fresh round of funding from Chinese VC Cyber Carrier and Existing Investors

New Delhi: A market leader and rapidly-growing platform for skin, hair and aesthetic wellness, MyDermacy, has raised a fresh round of undisclosed funding from Cyber Carrier, an India-focused Chinese venture capital fund as well as existing investors. The current round has been reportedly raised against fresh equity amounting to 15%-18%. This is a second round of funding having previously raised $150,000 from prominent angels including Promoters of Spectranet and Mr. Daljit Singh (President – Fortis Healthcare), besides others.

Cyber Carrier, which launched with a target corpus of $45million by China headquartered intelligent mobile advertising platform Yeahmobi, founded by Peter Zou, had recently announced plans to back startups in India.The early stage venture fund usually invests $50,000 to $3 million in the second and third round of funding.

The 2-year-old health and wellness startup, MyDermacy commenced its journey as an online Q&A platform allowing people to consult online with qualified dermatologists for skin, hair and other wellness-centric concerns.

The venture has expanded it’s scope from valuable online consultations to adding personalized aesthetic packages such as Laser Hair Reduction, Tattoo Removal, Hair Transplants, etc. with dermatologists and plastic surgeons, along with providing informative content to educate and spread awareness amongst rapidly growing, aesthetically conscious population. MyDermacy performs quality assessment of clinics through its “trusted clinics” certification that ensures the highest quality care for its customers, and global best practices for aesthetic clinics.

The business has been growing consistently since inception with a healthy 70%-100% growth Q-o-Q, with positive unit metrics. MyDermacy has a unique business model with a host of value added services on the B2B side contributing further to the profitability, whilst bringing more doctors into main stream aesthetic medicine.

Founder & Chief Executive Officer at MyDermacy, Ankit Khurana said, “This funding will primarily be utilized towards the expansion of the product offering and leadership hiring. The health and wellness industry is undergoing a revolution in terms of technology and services. MyDermacy is focused on being at the forefront of this change in the digital world. While many consumers endure various problems in discovering and buying the ideal solutions for their skin and hair, through MyDermacy, we strive to bring transparency and credibility to people searching for aesthetic results. We are also working on our next level of a diversified product offering on both consumer and B2B side. The investment from Cyber Carrier for our venture has allowed us to aggressively execute our strategically-planned expansion in the tremendous and competitive wellness market in the country.

India currently ranks number 4 globally in the number of aesthetic procedures done including surgical and non-surgical. The beauty and wellness industry in India has a huge market and currently stands at around INR 615 billion with CAGR of 14% as per Technopak.

According to Jessica Wong, Founder and Managing Partner at Cyber Carrier: “MyDermacy is targeting a large market, with immense understanding of both the consumer and the business. The team has been deeply immersed in the industry for many decades now, and has demonstrated strong strategic and execution capabilities. We look forward to

Aadhaar not mandatory for social schemes: SC #aadhar

New Delhi, March 27 (IANS) The Supreme Court on Monday said the unique identification number – Aadhaar card – cannot be made mandatory for availing benefits under social welfare schemes.

This was stated by a bench of Chief Justice Jagdish Singh Khehar, Justice D.Y. Chandrachud and Justice Sanjay Kishan Kaul.

Senor counsel Shyam Divan had challenged a spare of orders issued by the government making Aadhaar mandatory to access benefits under various schemes.