Archive for ‘India alert’

29/01/2019

‘Is this promise also fake’: Mayawati on Rahul’s income guarantee plank

Mayawati,Rahul Gandhi,Minimum Income Guarantee
Hitting out both at the Congress and ruling Bharatiya Janata Party (BJP), Mayawati drew a parallel between the promise made by Rahul Gandhi with those made by Prime Minister Narendra Modi before coming to power in 2014.(PTI)

Bahujan Samaj Party (BSP) chief Mayawati took a dig on Tuesday at Congress president Rahul Gandhi over his “minimum income guarantee” promise made at a public rally in Chhattisgarh on Monday. Taking a swipe at the Congress president, Mayawati questioned if “this promise also a fake one like Gareebi Hatao’.

Hitting out both at the Congress and ruling Bharatiya Janata Party (BJP), Mayawati drew a parallel between the promise made by Rahul Gandhi with those made by Prime Minister Narendra Modi before coming to power in 2014.

“Is this promise also a fake one like ‘Gareebi hatao’ and current government’s promises on black money, 15 lakh and achhe din? Both the Congress and the BJP have failed, and proved to be two sides of the same coin,” Mayawati was quoted as saying by news agency ANI.

Earlier addressing a public rally in Chhattisgarh, Rahul Gandhi had promised that if voted to power in 2019 Lok Sabha elections, the Congress government would announce the scheme to ensure minimum income guarantee to all the poor people in the country. He pitched this promise as the main poll plank of the Congress party.

“The Congress-led government is going to give minimum income guarantee. This means, every poor person in India will have a minimum income. This means there will be no hungry, poor people in India,” Rahul Gandhi said.

The announcement by the Congress president only four days ahead of the Narendra Modi government presents interim budget before the Lok Sabha polls likely to be held in April-May this year. The statement also followed the decision by the Modi government to give 10 per cent reservation in jobs and education to the poor among the unreserved, otherwise called the general category, people.

 

Following the tie-up between the BSP and the SP, the Congress party appointed Priyanka Gandhi Vadra, the sister of party president Rahul Gandhi as the general secretary in-charge of Uttar Pradesh East in a move that aimed at galvanising the ground-level workers of the party. Senior Congress leader Jyotiraditya Scindia was given the charge of Uttar Pradesh West.

Rahul Gandhi later said that Priyanka Gandhi and Scindia had a specific target of forming the next government led by the Congress in Uttar Pradesh. The state would hold assembly elections in 2022. But before that the Congress faces a stiff task in Uttar Pradesh during the Lok Sabha elections.

Source: Hindustan Times
29/01/2019

Rahul Gandhi meets Manohar Parrikar day after his ‘Rafale audio tapes’ attack

The unexpected meeting comes days after the Congress claimed that Goa Chief Minister Manohar Parrikar has the files related to the Dassault Rafale deal in his bedroom.

SNS Web | New Delhi | 

A day after Rahul Gandhi tweeted saying that the “explosive Rafale secrets were in the possession of Goa CM”, the Congress president on Tuesday met ailing Manohar Parrikar at his office “to wish him recovery”.

The unexpected meeting comes days after the Congress claimed that Goa Chief Minister Manohar Parrikar has the files related to the Dassault Rafale deal in his bedroom.

On Monday, Rahul tweeted that even as “30 days had passed by since the Goa Audio Tapes on RAFALE were released, no FIR has been filed or an enquiry has been initiated against the minister”.

“It’s obvious that the tapes are authentic & that Goa CM, Parrikar, is in possession of explosive RAFALE secrets, that give him power over the PM,” Rahul Gandhi tweeted.

Meanwhile, Gandhi is in Goa since Saturday with his mother and UPA Chairperson Sonia Gandhi.

After meeting the CM, he tweeted his visit was a personal one.

At a press conference held earlier this month, Congress leader Randeep Singh Surjewala had claimed that a Goa minister revealed that the files related to the deal between India and France for the fighter jets are “in Parrikar’s bedroom”.

“Former Defence Minister Manohar Parrikar has the all the files relating to Rafale jet deal. The fashion in which every procedure was bypassed…it is all recorded in the files. Those files are with Mr Parrikar. Why are those files being hidden?” said Surjewala.

He also produced an audio recording, which he claimed was between Goa Health Minister Vishwajit Pratapsingh Rane and an unidentified individual, in which two voices can be heard discussing a cabinet meeting and the Rafale deal.

Read | Congress claims Rafale files are in Manohar Parrikar’s bedroom

Demanding to know from Prime Minister Narendra Modi whether that was why the government was not allowing an all-party parliamentary inquiry, Surjewala produced the audio recording before the press.

According to the Congress, Rane told the unidentified voice on the other side that Parrikar at a meeting of the Goa cabinet said that no one could remove him as “all the Rafale papers are in my flat, in my bedroom”.

The voice, which the Congress claimed is of Rane, is heard telling the other person, “You can cross-check with somebody you are close to in the cabinet. This is something he said, that means he is holding them to ransom… He said it is in my bedroom here only in my flat, each and every document on Rafale.”

The deal for 36 Rafale jets was signed between India and France when Manohar Parrikar was Union Defence Minister. Demands for his replacement as Goa CM, a charge he assumed in March 2017, have risen ever since he fell severely unwell.

Reacting to the allegations, Rane had said the audio tape was doctored. He further accused the Congress of stooping to such a low level to doctor a tape to create miscommunication between the Cabinet and the CM.

“Mr Parrikar has never made any reference to Rafale or any documents. Have asked him for a criminal investigation into this,” Rane had said.

The deal for 36 Rafale jets was signed between India and France when Manohar Parrikar was Union Defence Minister. Demands for his replacement as Goa CM, a charge he assumed in March 2017, have risen ever since he fell severely unwell.

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Source: The Statesman
28/01/2019

Will always be ‘big brother’: Shiv Sena on alliance with BJP in Maharashtra

Till 2014, the BJP and Sena used to have an understanding under which the former would contest a larger share of Lok Sabha seats and the latter would get a greater number of Maharashtra Assembly seats to fight.

SNS Web | New Delhi | 

Bharatiya Janata Party’s warring ally Shiv Sena on Monday said that it would the big brother in alliance with the saffron party in Maharashtra and will stay the same.

Speaking to reporters after a meeting chaired by party chief Uddhav Thackeray, the Sena’s Rajya Sabha MP and chief whip in Parliament, Sanjay Raut, reiterated that the party will play the role of a big brother if an alliance is made for the upcoming Lok Sabha elections.

On reports of BJP and Shiv Sena to fight on an equal number of seats, Raut said, “There is no proposal from the BJP to form any alliance with the Shiv Sena. Those who wish to forge an alliance with us are talking about it. We are not waiting for any proposal to be offered to us”.

Raut also said that the party wanted the income tax threshold to be raised from the existing Rs 2.5 lakh to Rs 8 lakh.

“Uddhav Thackrey Ji said on the 10 per cent EWS quota to General Category that people with annual income of 8 lakh must be exempted from paying Income Tax. Since you have labelled them poor, they must be exempted,” he said.

At the meeting held in Thackeray’s Matoshree residence in Mumbai’s Bandra, with party MLAs and MPs in attendance, the Sena also took some other key decisions.

During the meeting, Thackeray also discussed the drought situation and farm distress in the state with party legislators, Raut said.

Till 2014, the BJP and Sena, allies for long, used to have an understanding under which the former would contest a larger share of Lok Sabha seats and the latter would get a greater number of Maharashtra Assembly seats to fight.

In this way, both parties took the role of the elder and younger sibling in the general and state polls in their political “brotherhood”.

The 2014 Assembly polls, however, ended this “sibling” agreement as the BJP, on the back of a strong Narendra Modi wave and contesting alone, won 122 seats against the Sena’s 63 in Maharashtra.

The BJP went on to form a government in the state under Devendra Fadnavis and the Sena had to contend being the junior partner.

Source: The Statesman

27/01/2019

Three years later, India’s bankruptcy reform languishes

MUMBAI (Reuters) – When India introduced new bankruptcy resolution rules in 2016, government officials and investors said they expected debt-burdened state-owned banks to clear up some of their bad loans and create a dynamic market in restructured debt.

Ultimately, they said, they hoped the reform would remove an impediment to higher economic growth.

Almost three years later, those hopes have been badly dented. Litigation has tied down some big restructuring deals and bankers are starting to sell bad debts at fire sale prices rather than wait for the system to work better.

That is bad news for Prime Minister Narendra Modi, who is keen to get banks lending more to stimulate the economy and create more jobs ahead of an election due by May this year.

“The delay (in resolution) definitely affects the diligence and planning effort of financial investors,” said Vijay Padmanabhan, director of KKR & Co. Inc., one of world’s biggest private equity firms which has said it is keen on investing in India’s distressed assets.

Although Padmanabhan said the current bankruptcy process was faster than before, he cautioned that “litigations have to be contained and timelines have to be maintained to generate serious interest amongst financial investors.”

The Insolvency and Bankruptcy Code, introduced in May 2016, allows even small creditors to file insolvency petitions against a company that had defaulted on debt. Once the petition is accepted by a court, a resolution plan has to be decided within 270 days, failing which the company will be liquidated.

The idea was the law would provide an incentive to owners to negotiate over distressed debt, rather than face an accelerated bankruptcy process over which they would have very little control.

It would also pull in foreign investors seeking distressed investments and potentially high returns, said Siby Antony, chairman of distressed assets resolution business at Edelweiss, which specialises in turning around debt-ridden companies.

Then, the owners of one of India’s biggest defaulters – Essar Steel, which owes 508 billion rupees ($7.11 billion/£5.38 billion) mostly to state banks – challenged the bankruptcy court’s decision to sell the steel producer to Arcelor Mittal, taking it away from its previous owners, the brothers Shashi and Ravi Ruia.

The nine months set for the process has now stretched to more than one and a half years, leaving creditors still not knowing how much of their money will be returned.

RESTRICTIONS ON LITIGATION

The debt of Bhushan Power and Steel Ltd, Jyoti Structures (JYTS.NS) and scores of other companies are also stuck in similar litigation.

While the bankruptcy code was a step forward, it would have been more effective if it had included restrictions on the scope for litigation, bankers and investors said.

India has 14.5 trillion rupees ($204.16 billion) of distressed assets, of which only around 730 billion rupees ($10.26 billion), or about 5 percent, have been resolved. However, only about half of this sum has so far been recouped by the banks due to legal challenges that have stalled payments.

“It would have been helpful if all the nuances of the law and possible outcomes were thought through,” said Alok Verma, executive director at Kotak Investment Banking, part of the Kotak Mahindra Group which works with clients looking at distressed assets in India.

So far out of 1,198 cases admitted under insolvency process, only 52 have seen approval of resolution plans, and even among those, repayments are still to be made to lenders.

“Most foreign investors are sitting on the fence waiting for the resolution process to stabilise,” said Antony of Edelweiss.

But Anthony does hold some hope that the system will speed up once the Essar Steel issue is resolved as that would set a precedent. “Once the big accounts are cleared the pipeline will move fast,” he predicted.

In the meantime, bankers are now looking to sell some of their bad assets at a steep discount to free up capital.

India’s largest lender State Bank of India is looking to put its 150.4 billion rupees ($2.1 billion) exposure to Essar Steel on the block at 62 cents to the dollar. Other lenders to the company are weighing similar options as prolonged litigation might cost them more in terms of provisions for losses and loss in interest income than any final recovery they might make, one banker to Essar said.

For capital-starved Indian banks, taking such haircuts is costly. But for the economy, it is an even greater cost given banks fund more than 60 percent of India’s credit requirements.

“State-owned banks’ core capital ratios are already very weak and that is the main factor constraining their capacity to lend,” said Saswata Guha, director and head of financial institutions at Fitch Ratings. “It eventually poses a risk to economic growth.”

Source: Reuters

27/01/2019

Save farmers first: Akhilesh on Yogi’s ‘will resolve Ram Temple issue in 24 hours’ remark

On Saturday, in an interview to India TV, the Uttar Pradesh chief minister said that the people’s “patience” on the Ram Temple issue is running out.

INDIA Updated: Jan 27, 2019 17:04 IST

HT Correspondent
akhilesh yadav,yogi adityanath,farmers
Reminding the UP CM, Akhilesh said the farmers need to be saved first. (Photo by Subhankar Chakraborty/ Hindustan Times)(HT Photo)

Samajwadi Party president Akhilesh Yadav on Sunday criticised Uttar Pradesh chief minister Yogi Adityanath for his remarks that if the Supreme Court is unable to give a verdict on the Ram Temple issue, it should “hand it over to us” and it will be resolved within 24 hours.

Reminding the UP CM, Akhilesh said the farmers need to be saved first.

“I would like to tell CM that people have given him 90 days, do something to save the crops from the bulls. Farmers need to be saved first. We have just celebrated 26 January, if a CM says such things on 26 January you can imagine what kind of CM he must be,” Akhilesh said.

On Saturday, in an interview to India TV, the Uttar Pradesh chief minister said that the people’s “patience” on the Ram Temple issue is running out.

“The unnecessary delay… is causing a crisis so far as people’s patience and trust are concerned. I want to say that the court should give its verdict soon, and if it is unable to do so, it should hand over the issue to us. We will resolve the Ram Janmabhoomi dispute within 24 hours. We won’t take 25 hours,” Yogi Adityanath said.

When asked why the Centre had not brought an ordinance on the issue, he said it could not be done since Parliament can’t discuss matters that are sub judice.

Saying that they were leaving it to the court, he said, “Had the court given justice based on the 1994 affidavit filed by the then central government, a good message could have gone to the country. It would have been a nice example. But this unnecessary delay is causing a situation where people’s patience is fast running out.”

AIMIM chief Asaduddin Owaisi took to Twitter to criticise the Uttar Pradesh CM’s remarks.

“I am sure you will in an hour by destroying Constitution,& Rule of Law, by Closing all Courts of Law, if needed by Encounters also as this is your way of doing JUSTICE, but fortunately in India Ambedkars Constitution is still relevant and we are celebrating it today,” Owaisi tweeted.

The Chief Justice of India Ranjan Gogoi on Friday reconstituted the bench hearing the Ramjanmabhoomi-Babri Masjid dispute. The new five-judge bench will hear the case on January 29.

Earlier, Justice Lalit recused himself from hearing the case after it was pointed out that he had appeared in a related case in 1997. The reasons for Justice Ramana’s exclusion are not known yet.

The case has been pending before the Supreme Court since 2010. The top court was scheduled to hear the case in October last, but put it off to January 2019 after rejecting the UP government’s plea for speedy hearings with CJI Gogoi saying the court has its “own priorities”.

Source: Hindustan Times

27/01/2019

PM Modi urges youth of Tamil Nadu to reject forces of negativity

At a public event in Madurai on Sunday, the PM urged the youth of the southern state to reject the “forces of negativity”.

SNS Web | New Delhi | 

Prime Minister Narendra Modi slammed the opposition parties in Tamil Nadu saying that they were busy creating an atmosphere of mistrust to serve their own interests.

At a public event in Madurai on Sunday, the PM urged the youth of the southern state to reject the “forces of negativity”.

“It is unfortunate that an atmosphere of suspicion and mistrust is being created by a few people in Tamil Nadu, to serve their own selfish interests,” the PM said without taking any names in the presence of Tamil Nadu Chief Minister Edappadi K Palaniswami and Governor Banwarilal Purohit.

“I urge all of you to remain vigilant against such negativity and call upon the people of Madurai, and the youth of Tamil Nadu, to reject the forces of negativity,” the PM added.

The PM assured the people of the state that the 10 per cent reservation for upper castes will not impact Dalits, Tribals and OBCs, who are already availing benefits of reservation.

“I want to talk to you about one more issue. This is relating to the Devendra Kula Vellalar community and ensuring justice as well as opportunities for them,” he said.

“The issue came to me and I’m fully sensitive towards their demands,” Modi added, referring to the community’s demand to be excluded from the Scheduled Caste (SC) list.

The PM said that the Union Government is taking effective steps to rid the country of corruption and nepotism.

“Any person who has cheated or looted the country, shall be brought to justice,” he said.

The Dravida Munnetra Kazhagam (DMK), the main opposition party in Tamil Nadu, has extended support to the ‘grand alliance’ which aims to take on the Bharatiya Janata Party (BJP) in the upcoming Lok Sabha elections in the country.

DMK chief MK Stalin had on 19 January attended a mega anti-BJP rally in West Bengal on the invitation of the state’s Chief Minister, Mamata Banerjee. Stalin had then urged the people to vote BJP and PM Modi out of power.

Reports say that the ruling All India Anna Dravida Munnetra Kazhagam (AIADMK) is apparently in talks with the BJP for an alliance ahead of the elections.

Protests were organised against the Prime Minister in Madurai by opposition parties.

MDMK chief Vaiko was seen leading a protest with black flags earlier today. The DMK, on the other hand, targeted the PM on social media.

A Saravanan, DMK MLA, accused the PM of never offering any solace when Tamil Nadu was in distress. He said that the party is opposing the PM’s visit because of the majoritarian politics of the BJP.

Before his address, the PM laid the foundation stone for an All India Institute of Medical Sciences (AIIMS) in Madurai and also inaugurated super speciality blocks at three medical colleges.

The 750-bedded AIIMS will cost Rs 1,264 crore and is expected to go on stream in 2022. It will have a capacity of 100 MBBS seats and 60 for B.Sc. (Nursing).

Speaking at the function, Palaniswami thanked PM Modi for setting up the AIIMS soon after the Centre had announced its plans to set up one in each state.

Source: The Statesman
26/01/2019

India relocates crocodiles at world’s tallest statue in Gujarat

Indian officials have begun relocating some 300 crocodiles from a reservoir next to the world’s tallest statue to allow a seaplane service for visitors.

The animals, some around 3m (9ft) long, are being lured into metal cages and sent elsewhere in the western state of Gujarat.

But conservationists have criticised the plan.

The 182m statue of independence hero Sardar Vallabhbhai Patel was inaugurated last October.

The bronze-clad statue sculpture, located some 200km (125 miles) from the state’s main city of Ahmedabad, has become a popular attraction.

But there are no train services and most tourists reach the site, known as “Statue of Unity”, by bus.

The world's tallest statue, "the Statue Of Unity"Image copyrightAFP
Image captionThe statue is nearly twice as tall as the Statue of Liberty in New York
Local forestry official Anuradha Sahu said the instruction had come from the state government “for safety reasons as the tourist influx has increased”, AFP news agency reports.

So far about a dozen crocodiles have been removed and transported on the back of pick-up trucks.

Community Science Centre Director Jitendra Gavali said the decision to remove the crocodiles was a violation of the country’s wildlife protection legislation.

“The government is disturbing their habitat and putting their lives at risk,” Dr Gavali was quoted by the Times of India as saying.

“Also, the government hasn’t thought out where it will release the captured crocodiles safely.”

Bittu Sahgal, editor of the wildlife magazine Sanctuary Asia, was another critic of the plan.

Prime Minister Narendra Modi – who, like Patel, was born in Gujarat – commissioned the statue when he was the state’s chief minister in 2010.

In recent years, Mr Modi’s ruling Hindu nationalist Bharatiya Janata Party (BJP) has embraced Patel in an attempt to claim his legacy.

The statue cost 29.9bn rupees (£330m; $430m).

Source: The BBC

26/01/2019

Rescuers find second body from mine tragedy in northeast India

NEW DELHI (Reuters) – Rescuers have located a second body from the site of a “rat-hole” mining accident in India’s northeastern state of Meghalaya, a spokesperson for the country’s navy said on Saturday, two days after recovering the first body.

Fifteen miners were trapped on Dec. 13 when their illegal mine was flooded. A court stipulated ban on unregulated mining in the state in 2014 has not stopped such activities.

Thousands of workers in Meghalaya, including children, have been killed in so-called rat-hole mines, in which miners crawl into narrow shafts on bamboo ladders to dig for low-quality coal.

“Indian navy diving team finds second body 280 feet inside the rat-hole mine,” a navy spokesperson said in a tweet.

There was no immediate indication on when the body will be brought to the surface, said a rescue official, who did not want to be named.

Families and relatives of the trapped miners have given up hope that any of them will be found alive.

Source: Reuters

26/01/2019

Saina Nehwal beats He Bingjiao, reaches Indonesia Masters final

Saina Nehwal will play the winner of the other semi-final between Chen Yufei and Carolina Marin for the title on Sunday

OTHER SPORTS Updated: Jan 26, 2019 16:30 IST

HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Saina Nehwal,He Bingjiao,Indonesia Masters
Saina Nehwal will play Chen Yufei or Carolina Marin in the final. (AFP)

Saina Nehwal defeated China’s He Bingjiao 18-21, 21-12, 21-18 in their Indonesia Masters semi-final to reach the final.

It was an intense three-set battle before Nehwal held her nerves in the deciding game to win the match. The Indian shuttler started the match strongly but blew a substantial lead to surrender the first game 18-21.

She made a strong comeback in the second game to take it 21-12. The deciding game turned out to be a tense affair as both the shuttlers refused to give an inch to the other. However, Nehwal held her nerves to prevail over her Chinese opponent 21-18 to win the thriller.

Nehwal will play the winner of the other semi-final between Chen Yufei and Carolina Marin for the title on Sunday.

Source: Hindustan Times

26/01/2019

PM Modi, other leaders greet nation on 70th Republic Day; India’s military might, woman power on display

The 70th Republic Day parade showcased a dazzling display of ‘Nari Shakti’, led by the Assam Rifles contingent.

SNS Web | New Delhi | 

As India celebrates its 70th Republic Day on Saturday, Prime Minister Narendra Modi was among the first leaders to greet the nation. The Republic Day parade began after PM Modi paid tributes to the martyrs at the Amar Jawan Jyoti.

South African President Matamela Cyril Ramaphosa is the chief guest for the event.

President Ram Nath Kovind unfurled the National Flag followed which the National Anthem was played with a 21 gun salute.

Lance Naik Nazir Ahmed Wani, who lost his life while killing 6 terrorists in an operation in Kashmir, was awarded the Ashok Chakra. The award was received by his wife and mother from President Ram Nath Kovind.

The underlining theme of this year’s Republic Day celebration is Mahatma Gandhi, as India is celebrating 150th year of his birth.

The parade began from Vijay Chowk and pass through Rajpath, Tilak Marg, Bahadur Shah Zafar (BSZ) Marg, Netaji Subhash Marg and proceed for the Red Fort. CDR Major Heneral Rajpal Punia led the parade at Rajpath.

India’s military might was at display with Captain Navneet Eric of 45 Cavalry commanding T-90 (Bhishma), the main battle tank of the Indian Army, and Captain Devansh Bhutani commanding K-9 Vajra-T, a self-propelled howitzer at the parade.

Twenty-two tableaux of states and central government departments were showcased during the 90-minute parade.

The 70th Republic Day parade showcased a dazzling display of ‘Nari Shakti’, led by the Assam Rifles contingent. A lone woman officer also exhibited bike stunts on Rajpath as part of the iconic daredevil team. Contingents of the Navy, Army Services Corps and a unit of Corps of Signals was led by women officers.

In a first, four veterans of Netaji Subhas Chandra Bose’s Indian National Army, all aged over 90 years, participated in the country’s 70th Republic Day celebrations.

Earlier, Union Minister Arun Jaitley, who is in the United States for medical treatment, extended his greetings to the nation.

Congress President Rahul Gandhi also extended his greetings to the nation.

Elaborate traffic arrangements and restrictions have been put in place in Delhi for smooth conduct of the Republic Day parade that starts from Vijay Chowk and culminates at Red Fort grounds.

The Delhi Traffic police has closed C Hexagon- India Gate for traffic movement from 2 am till parade crosses Tilak Marg.

Source: The Statesman
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