Ahead of Sonia-Pawar meet, Uddhav defers Ayodhya visit

News Network
November 18, 2019

Mumbai, Nov 18: A day after the NCP core committee resolved to form an alternative government in Maharashtra, Shiv Sena chief Uddhav Thackeray has put off his November 24 visit to Ayodhya, a Sena leader said on Monday.

NCP president Sharad Pawar is expected to meet his Congress counterpart Sonia Gandhi in Delhi on Monday to discuss government formation.

In the wake of the supreme court judgment on the Ramjanmabhoomi-Babri masjid land title dispute on November 9, Thackeray had announced he would visit the temple town in Uttar Pradesh on November 24.

"The government formation process is taking time. Leaders of the three parties (Sena, NCP, and Congress) are holding meetings. They are inching towards government formation. In view of these developments, Uddhavji has decided to postpone his visit to Ayodhya," the Sena leader said.

He also pointed out the "security concerns" in Ayodhya.

"Security agencies already denied permission to political parties planning to visit Ayodhya and the (Ram Janmabhoomi) site," the leader said.

Delivering a historic verdict, the SC had cleared the way for the construction of a Ram Temple at the disputed site at Ayodhya and directed the Centre to allot a 5-acre plot to the Sunni Waqf Board for building a mosque.

On Sunday, NCP chief spokesperson Nawab Malik said in Pune that Pawar and Sonia Gandhi will meet on Monday and discuss the possibility of the formation of an alternative government in Maharashtra, which is under President's Rule since November 12.

Malik also said leaders from the NCP and Congress will meet and discuss the future course of action on Tuesday.

Maharashtra was placed under Central Rule as no party or alliance could form a government for want of requisite numbers even 19 days after the results of the assembly polls were declared.

After felling out with its ally BJP over the demand for the post of the chief minister for an equal term, the Sena reached out to the Congress-NCP combine for support.

The saffron alliance had secured a comfortable majority by winning 105 and 56 seats, respectively, in the 288-member Assembly.

The Congress and the NCP, prepoll allies, won 44 and 54 seats, respectively.

The Sena later withdrew its lone minister Arvind Sawant from the Narendra Modi government.

On Saturday, Sena MP Sanjay Raut had announced that the Uddhav Thackeray-led party's exit from the BJP-led National Democratic Alliance (NDA) was a "formality".

The Congress and the NCP have already finalized a draft Common Minimum Programme (CMP) to run a possible coalition government with the Sena, and talks on sharing of power are expected to continue.

The Sena has been firm on its demand for the post of the chief minister.

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News Network
May 29,2020

New Delhi, May 29: With the highest spike of 7,466 more COVID-19 cases and 175 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,65,799 on Friday, according to the Union Ministry of Health and Family Welfare.

The number of active coronavirus cases stands at 89,987 while 71,105 people have been cured or recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,706 in the country.

Maharashtra is the worst affected state with 59,546 cases. Tamil Nadu has recorded as many as 19,372 cases while Gujarat and Delhi have recorded 15,562 and 16,281 coronavirus cases respectively.

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News Network
July 27,2020

New Delhi, Jul 27: India's COVID tally on Monday crossed 14 lakh mark with the highest single-day spike of 49,931 cases reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

The total COVID-19 cases stand at 14,35,453, including 4,85,114 active cases, 9,17,568 cured/discharged/migrated, it added.

With 708 deaths in the last 24 hours, the cumulative toll reached 32,771.

India had crossed 13 lakhs COVID-19 cases on July 25.

Maharashtra has reported 3,75,799 coronavirus cases, the highest among states and Union Territories in the country.

A total of 2,13,723 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,30,606 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 5,15,472 samples were tested for coronavirus on Sunday and overall 1,68,06,803 samples have been tested so far.

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News Network
May 24,2020

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

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