WARANGAL TUESDAY OCTOBER 13, 2020 `7.00 PAGES 12 CITY EDITION 2 STANFORD ECONOMISTS WIN NOBEL FOR AUCTION THEORY Paul R Milgrom & Robert B Wilson won the prize for improving the theory of how auctions work and inventing new formats ROBERT B WILSON PAUL R MILGROM FORMATS TO SOLVE COMPLEX AUCTIONS The Stanford University game theorists have helped develop formats for the sale of aircraft landing slots, radio spectrums, and emissions trading. The Royal Swedish Academy of Sciences said their work “benefited sellers, buyers and taxpayers” worldwide. Game theory uses mathematics to study decision-making, conflict, and strategy in social situations | P9 ■ 7 REALISING ‘PRIVATE VALUE’ OF OBJECTS ■ Milgrom, 72, developed a more general theory of auctions that takes into account what is known as the ‘private value’ of what’s being sold that can vary greatly from bidder to bidder Wilson developed a theory where the value of the object is uncertain beforehand but ends up being the same for everyone OUT OF 11 NOBEL LAUREATES THIS YEAR HAVE BEEN AMERICANS CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Govt opens purse strings further to make you spend Centre to invest `25,000 cr more on infra; states to get `12,000 crore interest-free loan; LTC cash vouchers for govt staff to buy white goods Centre plays hardball, GST meet inconclusive FINANCE Minister Nirmala Sitharaman on Monday announced a slew of measures to boost spending. These include `25,000 crore additional capital expenditure by the Centre, `12,000 crore interest-free loan for states to spend on infrastructure, cash vouchers in place of leave travel concession and a one-time interest-free festival advance of `10,000 each to government and PSU staff. States can repay the loan in one bullet payment after 50 years. Out of `12,000 crore, north-eastern states will get `1,600 crore, while Uttarakhand and Himachal Pradesh will receive `450 crore each. Rest of the states will get their share from `7,500 crore, in accordance with the devolution formula used by the Finance Commission. The remaining `2,000 crore will be given to states that fulfil reforms prescribed in the Atmanirbhar package, such as power distribution reforms, implementation of one-nationone-ration card scheme, etc. “The loan will have to be spent entirely on new or ongoing capital projects, (and) can be used to settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021,” Sitharaman said. The `25,000 crore additional capital expenditure will be spent on building roads, ports and defence projects. Government employees can use the LTC cash vouchers to buy goods worth three times Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur address the GST Council meeting in New Delhi on Monday | PTI RETAIL INFLATION UP, INDUSTRIAL OUTPUT DROPS Rising food prices pushed retail inflation to an eight-month high of 7.34% in September, above the RBI’s comfort level, while industrial output contract 8% in August, official data showed on Monday. The heightened retail inflation ahead of the festive season dims chances of a rate cut by the Reserve Bank of India to boost growth hit by the coronavirus pandemic and the resultant lockdowns the travel fare and one time the leave encashment before March 31, 2021. The condition is the goods should attract a GST of 12% or more. “Only digital transactions are allowed, GST invoice have to be produced,” the FM said, adding this will boost sales of electric appliances and consumer durables. The one-time `10,000 festival advance to central government employees will be given as a Rupay card, whose cost of which will be borne by the Centre. The government had earlier discontinued the practice of offering festival advances, which were then meant only for junior employees. This time, however, it will be for all employees, regardless of their rank. “Government employees and organised sector workers have escaped the economic effects of the pandemic. Their salaries are protected and savings have increased. They need to be incentivised to spend,” Sitharaman said, adding that through these measures, there could be an estimated `1 lakh crore boost to consumer spending, but in a fiscally prudent way, without any requirement of extra borrowing. According to her, the estimated cost of LTC cash voucher scheme for the central government is `5,675 crore for PSBs and for PSUs it is `1,900 crore, while advance payment will have no impact as it is to be refunded in 10 instalments. EXPRESS NEWS SERVICE @ New Delhi ANURADHA SHUKLA @ New Delhi A N U R A D H A S H U K L A @ New Delhi Plea in SC against Jagan over press meet against top judge AFTER five hours of intense engagement, the GST Council on Monday failed to settle the dispute over the compensation issue as the Centre refused to borrow on behalf of states to meet the revenue shortfall. Sources said 10 non-BJP states rejected the finance ministry’s proposal that state governments borrow to meet the revenue shortfall and demanded a Group of Ministers be formed to settle the dispute. This was the third meeting in a row that discussed compensation shor tfall without a decision. However, finance Minister Nirmala Sitharaman, who chaired the 43rd GST Council meeting through video-conferencing, claimed there was no dispute but only differences of opinion “I explained very clearly why the Centre cannot borrow. The Centre has issued a borrowing calendar. If I go beyond that to borrow, the G-Sec deals which are used as the benchmark for every other borrowing will go up. This will increase borrowing costs for states and the private sector, too,” she told reporters after the meeting. The FM added that the 20plus states that had opted to borrow to meet the GST revenue shortfall wanted to go ahead in view of the upcoming festive season. GST COUNCIL TOOK UNILATERAL DECISION, SAYS HARISH RAO P4 DAYS after Andhra Pradesh Chief Minister Jagan Mohan Reddy wrote to the Chief Justice of India complaining about Supreme Court judge N V Ramana and certain judges in the Andhra High Court in the context of the Amaravati land scam, a plea was filed on Monday against Jagan before the apex court. Ajeya Kallam, principal advisor to the chief minister, released copies of the letter at a recent press conference. Advocate Sunil Kumar Singh, who filed the plea, said such press briefings against judges should stop. He also sought a show cause notice against Jagan asking why suitable action should not be taken against him. “The act and deed of the respondent is an attempt to tarnish the majesty of the highest court of the country,” the plea DESCRIBING the 587-page report filed by the State government on Covid-19 issue as ‘cleverly drafted and totally vague’, a division bench of Telangana High Court on Monday warned of issuing contempt notice for misleading the court with wrong information and data particularly on number of deaths being reflected in media bulletins. “People should not be kept in dark by giving wrong picture of the pandemic situation. No explanation is given in the report regarding reduction in number of tests per day on weekends, and on the death figures which fluctuate between seven and 13 per day though there is an increase in number of positive cases. Has the State government issued any direction to Lord Yama asking him to take only 10 persons per day? It is indeed shocking that Has the State government issued any direction to Lord Yama asking him to take only 10 persons per day? It is indeed shocking that correct figures are not being published by the State government Telangana HC correct figures are not being published by the State,” the bench of Chief Justice Raghvendra Singh Chauhan and Just i c e B Vi j ay s e n Re d d y remarked. “Figures are fudged. The report was cleverly drafted to fool the court. We will not permit anyone, including the government, to take the court for a ride. We are not happy with the report and several court orders issued earlier are flouted again. If it is repeated then we have no other option but to ask the state chief secretary to appear again for explanation”, the bench cautioned and di- rected the government to furnish correct data about Coronavirus deaths in the Sate. As per World Health Organistion (WHO), there should be three beds per 1,00 persons in a State, whereas in Telangana, it continues to be 1.3 beds for 1,000 population, it noted. Referring to the second wave of Corona cases in places like Kerala, Delhi and some foreign countries, the bench asked the Telangana government whether it is prepared to face the second wave which might hit the State with the onset of winter and festival seasons, including Bathukamma, Dasara and Diwali. Keeping the state population of about 3.7 crore in view, the government should take steps ensuring adequate infrastructure facilities and increase in number of designated Covid-19 hospitals, beds strength and testing labs to prevent spread of the virus, it CONTINUED ON P4 said. hours, it can affect the image of judiciary and hence the confidence of the general public in the judiciary the plea read. ,” It said the CM is under oath and allegiance of the Constitution and is thus bound by it to respect the judiciary . In his letter to Chief Justice of India S A Bobde, Jagan had alleging that some High Court judges were attempting to protect the interests of the opposition Telugu Desom Party in politically sensitive matters. M e a n w h i l e, t h e Andhra Pradesh High Court on Monday directed the CBI to probe recent social media posts against its judges and the judiciary to unravel the conspiracy , if it exists. The court asked the CBI to take action against any person irrespective of their position, if the conspiracy angle is established. LAC TALKS Man denied transplant INDIA INSISTS ON EARLY DISENGAGEMENT India on Monday insisted on restoration of status quo ante of April and comprehensive disengagement of troops by China from all the friction points in eastern Ladakh to resolve the border standoff, sources said, as the two countries held a seventh round of military talks | P7 HC warns TS govt of contempt notice over wrong info on Covid-19 situation R R A J A S H E K A R R A O @ Hyderabad stated. The petitioner contended that Jagan had crossed all limits prescribed by the Constitution. “As per the Constitution of India as provided under Article(s) 121 and 211 of the Indian Constitution it has been mandated that no discussion shall take place in Parliament or in state legislature with respect to the conduct of any j u d g e o f S u p re m e Cour t or the High Court in the discharge of his duty .” Further, it is averred that freedom of speech and expression guaranteed under Article 19(1)(a) of the Constitution is subject to reasonable restrictions in relation to contempt of courts and defamation. “In the society of today, where the discussion in the media and on social media can go wild within days or within spends fortune to live V N I L E S H @ Hyderabad WITH 90 per cent of his lungs damaged and with no means to undergo a lung transplant in private hospitals, 48-yearold Kalluri Srinivas of Mancherial is str ug gling to survive. The bedridden man depends on supply of oxygen from five large cylinders each day to breath and stay alive as his family spends `3,500 per day. This has been the case for the last two months. The doctors have advised him to undergo lung transplant but unfortunately the government hospitals in Telangana do not offer the specialised surgery . Srinivas, who used to run a small kirana shop, is a beneficiary of Aarogyasri scheme but it proved to be of no use to him despite lung transplant being one of the surgeries included in the list of organ transplantation surgery packages under the State government’s health scheme. A well-known corporate hospital in Hyderabad that recently boasted about its capabilities to conduct lung transplant at its specialised transplantation centre, refused to offer the service to him under Aarogyasri. With 90 per cent of lungs damaged, Kalluri Srinivas of Mancherial has been surviving on oxygen cylinders for the last two months Speaking to Express, Srinivas’ wife Lavanya said that for more than 15 years they lived in Ramakrishnapur of Mandamarri mandal in Mancherial district, that is home to coal mines. In 2018, they shifted to Mancherial town following doctor’s advice as Srinivas was diagnosed with Interstitial Lung Disease, a chief cause of which is long-term exposure to hazardous materials, according to the American Lung Association. CONTINUED ON P4 EXPRESS READ Allahabad HC raps police on Hathras cremation SMILE OF SUCCESS TRS leader K Kavitha celebrates her thumping victory in the Nizamabad MLC election with her father and Chief Minister K Chandrasekhar Rao at Pragathi Bhavan in Hyderabad on Monday | REPORT ON P2 Lucknow: Bitterly criticising the cremation of the alleged gang-rape and murder victim of Hathras in the dead of night, her family questioned the intent of the district administration and expressed anguish over the insensitive approach of the district magistrate (DM), while appearing before the Lucknow bench of Allahabad High Court here on Monday. | P8 INTERESTING MIX Young & educated newbies raring to cut their political teeth in Bihar Assembly polls R A J E S H K U M A R T H A K U R @ Patna AN Oxford University alumnus, a masters from the London School of Economics, a former HR head with an electronics company a former financial ad, viser to the IDBI, an industrial and textiles designer, and a Commonwealth shooting gold medalist. This is not a roll call of candidates with impressive CVs for a corporate job interview. Rather, all of them are candidates for the forthcoming Bihar elections, the first phase of which is on October 28. Among them is also the grandson of B P Mandal of the Mandal Commission fame. These young, well qualified, political newbies are breaking the stereotype of Bihar netas, known more for their money and muscle power and possess- Nikhil Anand Shalini Mishra Ritu Jaiswal Manis Barriarr Shrenshi Singh Pushpam Priya Choudhary Nikhil Mandal Chetan Anand ing criminal records longer than their educational qualification. After finishing her MBA in marketing and advertising, Shalini Mishra, 42, worked in Faridabad, rising to become the HR head of an electronics company But politics was her . calling and today she is the Janata Dal (United)’s candidate from the Kesari seat in East Champaran. “Education is the only tool that can empower the people in real terms and political representatives ought to work more in this area,” she said, adding that Chief Minister Nitish Kumar’s vision for inclusive growth lured her to the JD(U). Trying his luck also is Nikhil Mandal, 45, the grandson of B P Mandal of the Mandal Commission fame. The commission’s report led to reservation for OBCs. After his masters in law, Nikhil worked in the corporate sector and was even the financial adviser with the IDBI. He later practised in the Patna high court and is now the J D ( U ) ’s c a n d i d a t e f r o m Madhepura. Another young and fresh face is Manish Barriarr, 42, contesting from Patna’s high profile Bankipur seat. 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