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The Morning Wrap: Barack Obama Bids Farewell; Automobile Sales Hit By Demonetisation

Our selection of interesting news and opinion from the day's newspapers.

11/01/2017 8:17 AM IST | Updated 11/01/2017 9:15 AM IST
John Gress / Reuters

The Morning Wrap is HuffPost India's selection of interesting news and opinion from the day's newspapers. Subscribe here to receive it in your inbox each weekday morning.

Essential HuffPost

India is inching towards a trial run of a Universal Basic Income (UBI), conversations with bureaucrats and economists over the last two weeks have indicated. The annual UBI figure supported by leading economists range from ₹3,500 to ₹10,000. But what is the thinking behind the magic numbers and how successful will it be?

35-year-old Mohammad Farooq and his wife Sakila Khatoon are facing a strange predicament following demonetisation. The entirety of their life savings, a sum they had painstakingly squirrelled away from Farooq riding a cycle rickshaw and cleaning cars, is now stuck in his wife's Jan Dhan account. Read more about his predicament and watch him speak about it.

Barack Obama ends his second term as the President of the United States and steps down from office. Donald Trump will be sworn in on 20 January as the new President of the country. Read Obama's farewell address here.

Main News

The eighth edition of the Vibrant Gujarat Global Summit that kicked off on Tuesday saw global business leaders extol Prime Minister Narendra Modi for his 'Make In India' drive and digital push. Modi banked on these campaigns to hard-sell India as the most profitable destination, assuring corruption-free governance while addressing a 5,000-strong audience and political and business delegations from around 100 countries.

Uttar Pradesh chief minister Akhilesh Yadav would not step down as the Samajwadi Party president, at least not till the election was over, sources said, dealing another blow to hopes of reconciliation in the faction-riddled party.

Suspense over the date for the presentation of the Union budget continued on Tuesday after the cabinet secretary communicated the government's response to the Election Commission's (EC) query on the budget date clashing with the poll schedule.

Off The Front Page

The Centre says it has unearthed a cash trove of ₹3 to ₹4 lakh crore that it believes is black money channelled into bank accounts, in an effort to hoodwink tax sleuths. The income tax department has been asked to analyse the data and send notices to the depositors.

India has denied security clearance to plans by mainland China's oldest bank to open a branch in Mumbai, sources in the Union home ministry said today. Keen to open a branch in India's financial capital, Bank of China had applied for security clearance in July last year.

Automobile sales for December 2016 fell the most for a month in 16 years pointing to a possible impact of demonetisation, prompting consumers to delay their purchases of cars, motorcycles and trucks. The data, released by the Society of Indian Automobile Manufacturers, show that sales of two-wheelers slid 22% in December 2016 compared to December 2015.

Opinion

Social scientist Badri Narayan analyses Mayawati's conception of the 'bahujan' in The Indian Express. Even though she came to power using the Dalit card that is the hallmark of the Bahujan Samaj Party (BSP), the leader of the party and former chief minister of Uttar Pradesh is apprehensive of losing the votes of the other castes if she doesn't embrace the interests of a wider spectrum of people.

Taking the long view since the incident of mass molestation in Bengaluru on New Year's Eve 2016, Narayan Lakhsman argues in The Hindu that it is time that attitudes changed and the law asserted that all women have an inviolable right to space and untrammelled dignities.

The nation has been in a turmoil since the testimony of a Border Security Force (BSF) on video about the miserable living condition of soldiers in the borders. While social media is rife with speculation about the causes that precipitated such a confession, only a systematic investigation into the matter can reveal the fissures in the army, writes Harinder Baweja in the Hindustan Times.

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