Another jolt to Cong in Gujarat; 3 MLAs resign

Agencies
July 27, 2017

Ahmedabad, Jul 27: In another jolt to the Congress in Gujarat ahead of the Rajya Sabha polls, three party MLAs considered close to former opposition leader Shankarsinh Vaghela resigned from the assembly today.resign

The resignation of Balwantsinh Rajput (who was also the chief whip), Tejashreeben Patel and Prahlad Patel reduced the Congress's tally to 54 in the 182-seat assembly.

The development came at a time when the Congress has fielded its senior leader Ahmed Patel as its candidate for the Upper House in the election scheduled for August 8.

The Congress nominee can sail through if he musters the support of 47 MLAs and the party is able to guard against further desertions from its legislative arm.

The presidential election had seen cross-voting by Congress legislators as the opposition candidate Meira Kumar could garner votes of only 49 legislators against the Congress's then strength of 57 in the assembly.

All three MLAs submitted their resignation letters to Assembly Speaker Ramanlal Vora at Gandhinagar.

"Balwantsinh Rajput, Tejashreeben Patel and Prahlad Patel have given their resignation as sitting MLAs of their respective seats. They now cease to be the members the Legislative Assembly," Vora told PTI.

The trio can't vote in the August 8 Rajya Sabha polls as they are no long members of the House, he said.

Rajput represents Siddhapur seat in Patan district, while Tejashreeben Patel was elected from Viramgam in Ahmedabad district. The third MLA, Prahlad Patel, was elected from Vijapur in Mehasana district.

Rajput, serving as the chief whip of the Congress in the assembly, is related to Vaghela as the former's son has married latter's grand-daughter.

The latest setback for the Congress comes almost a week after Vaghela left the party and also resigned as the Leader of Opposition. However, he continues to be an MLA.

Ahmed Patel, political secretary of Congress president Sonia Gandhi, yesterday filed his nomination papers from Gujarat for the Rajya Sabha polls.

Of the total 11 Rajya Sabha members from the state, the term of three of them -- Smriti Irani and Dilipbhai Pandya (both BJP) and Ahmed Patel -- is ending on August 18.

The main opposition party also has the support of two NCP legislators and one JD(U) MLA.

Union minister Irani has been re-nominated, while BJP chief Amit Shah will be the other party candidate from Gujarat. Shah is at present an MLA from Gujarat.

After tendering his resignation, Rajput said he was very upset with the Congress due to the allegations being levelled against him.

"I am in public life for 35 years. The people of Siddhapur know how much I have worked for them and for the party. However, it is sad that some persons (in the Congress) have started pointing fingers at me due to my family ties (with Vaghela). That is why I gave my resignation," he said.

Tejashreeben Patel also slammed the Congress, saying the party appears clueless about how to prepare and win the upcoming assembly polls in Gujarat.

"Since the last one-and-a-half years, many of us have been telling the party leaders to give prominent posts to Patels to get their votes in the assembly polls. However, nothing was done in this regard," she said.

Asked about the possibility of her joining the BJP, she said, "We will think about it and take a decision later."

Prahlad Patel said under the Congress "injustice" had been meted out to him and his community.
"I have strengthened the Congress at taluka and district levels. However, injustice was done to me as well as to the Patidar community.

"We made numerous representations to the party leaders to do more for the community, but party did not pay attention," he told reporters after submitting his resignation.

Prahlad Patel indicated he will join the ruling BJP "in the interest of the people".

"Since I belonged to an opposition party, many developmental works were stalled in my constituency. It is an established fact that works are done easily if you are with the ruling party. I am mulling to join the BJP in the interest of my people," he said.

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News Network
May 28,2020

New Delhi, May 28: With 6,566 more coronavirus cases and 194 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,58,333 on Thursday, according to the Union Ministry of Health and Family Affairs.

The number of active coronavirus cases stands at 86,110, while 67,692 people have recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,531 in the country.

Maharashtra is the worst affected state with 56,948 cases. Tamil Nadu has recorded as many as 18,545 cases while Gujarat and Delhi have recorded 15,195 and 15,257 coronavirus cases respectively.

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News Network
January 11,2020

New Delhi, Jan 11: Islamic preacher Zakir Naik has revealed that the Bharatiya Janata Party-led government offered to drop false money-laundering charges against him and provide with a "safe passage to India" in return for his support to the government's move to revoke Article 370 of the Constitution.

In a statement issued by Naik's PR team on Saturday, the Islamic preacher said that he was approached by a representative of the Indian government in September, who offered him the said deal on Kashmir, which he refused.

"Three and a half months before, the Indian officials approached me for a private meeting with a representative of the Indian government. When he came to Putrajaya (a Malaysian city), in the fourth week of September 2019, to meet me, he said that he is coming after personally meeting and under the direct instructions of the Prime Minister of India Narendra Modi and the Home Minister of India Amit Shah," Naik said in a video statement released by his Mumbai-based PR team.

Naik, who has been living in Malaysia for the last three years, is facing charges of inciting communal disharmony and committing unlawful activities in India.

"(The representative) said that he wanted to remove the misconceptions and miscommunications between myself (Naik) and the Indian government, and wants to provide me a safe passage to India," he added. "He (the representative) said that he would like to use my connections to better the relationship between India and the other Muslim countries."

"The meeting lasted for several hours. He told me that he wanted me to support the BJP government when they revoked Article 370 in Kashmir. And I flatly refused," he added.

Naik said that after he refused the offer, he was further asked to not make public statements against the BJP or Prime Minister Narendra Modi.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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