After Modi biopic, Vivek Oberoi gearing up to contest from Gujarat in 2024 polls

Agencies
April 8, 2019

Apr 8: Actor Vivek Oberoi, who plays Prime Minister Narendra Modi in a yet-to-be-released biopic, Saturday said he “might think” of contesting from Vadodara in the 2024 Lok Sabha polls “if he joins politics”.

The actor was participating in an interactive session with students of Parul University in Vadodra to promote the Omung Kumar-directed film PM Narendra Modi.

The Supreme Court on Friday refused urgent listing of a plea seeking stay on the release of the biopic.

On Thursday, the apex court had agreed to hear on April 8 a Congress leader’s plea which sought deferment of the biopic’s release till the completion of the upcoming Lok Sabha polls, alleging that it was designed to “manipulate, influence and impress viewers and voters”.

“If I join politics, I might think of contesting from Vadodara in the 2024 Lok Sabha elections just because of the love and affection people gave PM Narendra Modi when he contested from here,” Oberoi said after being asked whether he would take the political plunge.

He told students that he observed the PM’s body language and way of talking to prepare for his role in the biopic.

He claimed it took 16 days to finalise his look for the film.

“It is an inspiring film about a man who has become Prime Minister of the country and one of the world’s biggest leaders without any backing or caste politics,” he said.

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indian
 - 
Tuesday, 9 Apr 2019

one of the worls biggest ###### man ever existed in india is Pm modi and second was vivek...

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Agencies
January 16,2020

New Delhi, Jan 16: United Forum of Bank Unions has decided to observe a two-day strike on January 31 and February 1, demanding early wage revision settlement which has been due since November 1, 2017, said the All India Bank Employees Association.

Union Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1.

Banks will also hold a strike on March 11, 12 and 13. Also, an indefinite strike will be held from April 1.

General Secretary, All India Bank Officers' Confederation West Bengal Sanjay Das has stated that the nationwide strike has been called over several demands.

"The demands include--wage revision settlement at 20 per cent hike on payslip components with adequate loading thereof and scrapping off New Pension Scheme (NPS)," said Das.

There are several demands to hold the strike including the merger of special allowance with basic pay, updation of pension, improvement in the family pension system, five-day banking, allocation of staff welfare fund based on operating profits and exemption from income tax on retiral benefits without a ceiling.

"Other demands include-- a uniform definition of business hours, lunch hour etc in the branches, introduction of leave bank, defined working hours for the officers and equal wage for equal work for the contract employee," said Das.

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News Network
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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Agencies
July 2,2020

Moscow, Jul 2: Russian voters approved changes to the constitution that will allow President Vladimir Putin to hold power until 2036, but the weeklong plebiscite that concluded Wednesday was tarnished by widespread reports of pressure on voters and other irregularities.

With most of the nation's polls closed and 20% of precincts counted, 72% voted for the constitutional amendments, according to election officials.

For the first time in Russia, polls were kept open for a week to bolster turnout without increasing crowds casting ballots amid the coronavirus pandemic a provision that Kremlin critics denounced as an extra tool to manipulate the outcome.

A massive propaganda campaign and the opposition's failure to mount a coordinated challenge helped Putin get the result he wanted, but the plebiscite could end up eroding his position because of the unconventional methods used to boost participation and the dubious legal basis for the balloting.

By the time polls closed in Moscow and most other parts of Western Russia, the overall turnout was at 65%, according to election officials. In some regions, almost 90% of eligible voters cast ballots.

On Russia's easternmost Chukchi Peninsula, nine hours ahead of Moscow, officials quickly announced full preliminary results showing 80% of voters supported the amendments, and in other parts of the Far East, they said over 70% of voters backed the changes.

Kremlin critics and independent election observers questioned the turnout figures.

We look at neighboring regions, and anomalies are obvious there are regions where the turnout is artificially (boosted), there are regions where it is more or less real, Grigory Melkonyants, co-chair of the independent election monitoring group Golos, told The Associated Press.

Putin voted at a Moscow polling station, dutifully showing his passport to the election worker. His face was uncovered, unlike most of the other voters who were offered free masks at the entrance.

The vote completes a convoluted saga that began in January, when Putin first proposed the constitutional changes.

He offered to broaden the powers of parliament and redistribute authority among the branches of government, stoking speculation he might seek to become parliamentary speaker or chairman of the State Council when his presidential term ends in 2024.

His intentions became clear only hours before a vote in parliament, when legislator Valentina Tereshkova, a Soviet-era cosmonaut who was the first woman in space in 1963, proposed letting him run two more times.

The amendments, which also emphasize the primacy of Russian law over international norms, outlaw same-sex marriages and mention a belief in God as a core value, were quickly passed by the Kremlin-controlled legislature.

Putin, who has been in power for more than two decades longer than any other Kremlin leader since Soviet dictator Josef Stalin said he would decide later whether to run again in 2024.

He argued that resetting the term count was necessary to keep his lieutenants focused on their work instead of darting their eyes in search for possible successors.

Analyst Gleb Pavlovsky, a former Kremlin political consultant, said Putin's push to hold the vote despite the fact that Russia has thousands of new coronavirus infections each day reflected his potential vulnerabilities.

Putin lacks confidence in his inner circle and he's worried about the future, Pavlovsky said.

He wants an irrefutable proof of public support.

Even though the parliament's approval was enough to make it law, the 67-year-old Russian president put his constitutional plan to voters to showcase his broad support and add a democratic veneer to the changes.

But then the coronavirus pandemic engulfed Russia, forcing him to postpone the April 22 plebiscite.

The delay made Putin's campaign blitz lose momentum and left his constitutional reform plan hanging as the damage from the virus mounted and public discontent grew.

Plummeting incomes and rising unemployment during the outbreak have dented his approval ratings, which sank to 59%, the lowest level since he came to power, according to the Levada Center, Russia's top independent pollster.

Moscow-based political analyst Ekaterina Schulmann said the Kremlin had faced a difficult dilemma: Holding the vote sooner would have brought accusations of jeopardizing public health for political ends, while delaying it raised the risks of defeat.

Holding it in the autumn would have been too risky, she said.

In Moscow, several activists briefly lay on Red Square, forming the number 2036 with their bodies in protest before police stopped them.

Some others in Moscow and St. Petersburg staged one-person pickets and police didn't intervene.

Several hundred opposition supporters rallied in central Moscow to protest the changes, defying a ban on public gatherings imposed for the coronavirus outbreak. Police didn't intervene and even handed masks to the participants.

Authorities mounted a sweeping effort to persuade teachers, doctors, workers at public sector enterprises and others who are paid by the state to cast ballots. Reports surfaced from across the vast country of managers coercing people to vote.

The Kremlin has used other tactics to boost turnout and support for the amendments.

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