'Acche din' only for Modi, his businessmen friends: Rahul Gandhi

May 15, 2015

Nirmal (Telangana), May 15: Targetting Prime Minister Narendra Modi, Congress vice president Rahul Gandhi on Friday said "acche din" have come only for Modi and few businessmen close to him.

Addressing a public meeting at Wadial village near here, he said Modi has five to six businessmen friends and the entire country was being run for them.

rahul"It is a government of selected people. It is a government of suit-boot and selected industrialists," said Gandhi after winding up 15-km long padyatra in Adilabad district to console families of farmers who committed suicide due to financial distress.

"Acche din" have not come for people but for Modi, who is visiting different countries, he quipped.

In another dig at Modi, he asked the crowd: "Is there anybody among you who wears a Rs.10 lakh suit."

"Modiji wears it," he added.

"One year has passed. Did anybody among you get a job which Modiji at centre and mini-Modi in Telangana (Chief Minister K. Chandrasekhar Rao) had promised," he asked.

The Congress vice chief claimed that wherever goes, people tell him that they committed a mistake by voting for the National Democratic Alliance. He said both the NDA and the Telanagana Rashtra Samithi respectively had promised that they will change India and Telangana but forgot farmers who can bring the real change.

Hitting out at the NDA government for proposed amendment to land acquisition law, the Congress leader said the government want to snatch the lands of farmers and give them to few industrialists who are close to Modi.

He said the central and state governments have thousands of acres of land with them and pointed out that 40 percent of lands in Special Economic Zones (SEZs) created by United Progressive Alliance (UPA) government is lying unused. Gandhi also cited Finance Minister Arun Jaitley's admission that only eight percent of the projects are stalled for want of land.

"They want to snatch your land because land is gold. The price of land in coming years will increase manifold and this will benefit you and your children," he told farmers.
Gandhi, however, clarified that his Congress party is not against development.

"Industries should come. There should be partnership between industries, farmers and labourers. We are against crony capitalism. Crony capitalism means give everything to two to three industrialists," he said.

Stating that the NDA government is trying to pass the land bill in a hurry, he alleged that this will give powers to the government to take farmers' lands without their consent, which was made mandatory by the UPA government.

Gandhi said the government was also trying to do away with existing provision for returning lands to farmers if projects don't come up in five years and also the provision for social audit on the impact of land acquisition on farmers.

Hitting back at NDA and TRS for criticising him for meeting families of farmers who committed suicide, he said if Modi and Chandrasekhar Rao had visited them, there was no need for him to do so.

The Congress leader also took a dig at them for not bothering to visit farmers who lost crops in unseasonal rains.

Gandhi, who consoled five families and gave cheques of Rs.2 lakh each, said the Congress, while in power, always came to the rescue of farmers in times of natural calamities or to solve other problems.

He recalled that the UPA government waived Rs.70,000 crore of farm loans, and also provided Rs.8 lakh crore bank loans to farmers in 10 years, thus increasing the agriculture credit by 700 percent.

Congress' state unit president Uttam Kumar Reddy said 700 farmers committed suicide in the state during 11 months.

Former union minister S. Jaipal Reddy, and senior leaders K. Jana Reddy, Mohammed Ali Shabbir, V. Hanumanth Rao, and Mallu Batti Vikramarka also spoke at the meeting.

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News Network
January 9,2020

Mumbai, Jan 9: India's weddings are famously lavish -- lasting days and with hundreds if not thousands of guests -- but this season many families are cutting costs even if it risks their social standing.

It is symptomatic of a sharp slowdown in the world's fifth-largest economy, with Indians spending less on everything from daily essentials to once-in-a-lifetime celebrations.

Growth has hit a six-year low and unemployment a four-decade high under Prime Minister Narendra Modi. Prices are rising too, squeezing spending on everything from shampoo to mobile data.

Chartered accountant Palak Panchamiya, for example, has already slashed the budget on her upcoming Mumbai nuptials by a third, trimming spending on clothing and the guest list.

"Initially I chose a dress that cost 73,000 rupees ($1,000)," Panchamiya told news agency as she picked through outfits at a recent marriage trade fair.

"But my partner felt it was too expensive, and so now I am here reworking my options and looking for something cheaper."

India's massive wedding industry is worth an estimated $40-50 billion a year, according to research firm KPMG.

The celebrations can last a week and involve several functions, a dazzling variety of cuisines, music and dance performances, and lots of gifts.

Foreigners can even buy tickets to some events.

But these days, except for the super-rich -- a recent Ambani family wedding reportedly cost $100 million -- extravagance is out and frugality is in as families prioritise saving.

"Earlier Indian weddings were like huge concerts, but now things have changed," said Maninder Sethi, founder of Wedding Asia, which organises marriage fairs around the country.

Cracks emerged in 2016 when the Indian wedding season, which runs from September to mid-January, was hit by the government's shock withdrawal of vast amounts of banknotes from circulation in a bid to crack down on undeclared earnings.

Mumbai-based trousseau maker Sapna Designs Studio shut for months as the economy was turned on its head by Modi's move.

"No exhibitions were happening and there were no avenues for us to sell either," said Vishal Hariyani, owner of the clothing studio.

Hopes for a recovery proved short-lived when the cash ban was followed by a botched rollout of a nationwide goods and services tax (GST) in 2017 that saw many small-scale businesses close.

Since then, keeping his studio afloat has been a challenge, with consumers increasingly reluctant to spend too much, says Hariyani.

"We customise our clothes as per their budgets, and now week-long weddings have been converted to just a 36-hour ceremony," he told news agency.

"We have to pay GST, pay workers and even offer discounts to customers," he added.

"The whole economy has slowed down and reduced spending on weddings is a by-product of that. Everyone except the super-rich are affected," Pradip Shah from IndAsia Fund Advisors told news agency.

"It is reflective of how sombre the mood is," he said.

In a country where families traditionally spend heavily on weddings -- including taking on debt in some cases -- the downturn is also a source of sadness and shame, with elaborate celebrations often seen as a measure of social status.

"We haven't even invited our neighbours. It is embarrassing but the current situation doesn't offer us much respite," 52-year-old Tara Shetty said ahead of her son's wedding.

"In my era, we always spent a lot and had thousands of people attending the weddings," she explained.

"My wedding was supremely grand, and now my son's is the polar opposite."

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News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

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News Network
February 14,2020

New Delhi, Feb 14: AAP convenor Arvind Kejriwal has invited Prime Minister Narendra Modi to his swearing-in ceremony scheduled to take place at the Ramlila Maidan on February 16, senior party leader Gopal Rai said on Friday.

Rai, the convenor of the Aam Aadmi Party's Delhi unit, said a letter was sent to the prime minister on Friday morning.

All seven Delhi MPs and eight newly-elected BJP MLAs have also been invited for the oath-taking ceremony, Rai told news agency.

No chief minister or political leaders from other states will be part of the event as it will be a "Delhi-specific" ceremony, Rai had said on Thursday.

Kejriwal, through front-page advertisements in newspapers, has urged Delhiites to attend his oath-taking ceremony as he is set to become the chief minister of Delhi for the third consecutive term.

Kejriwal will take oath as Delhi Chief minister along with his cabinet at Ramlila Maidan at 10 am on Sunday.

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