BJP is now a party of sycophants: Former BJP veteran Yashwant Sinha

The Hindu
December 13, 2018

Pune, Dec 13: Stating that ‘Modi magic’ was on the wane, former Union Minister and ex-BJP leader Yashwant Sinha on Wednesday said the electorate had expressed their ire and frustration.

Mr. Sinha, one of the bitter critics of the Narendra Modi regime, lauded Congress president Rahul Gandhi’s conduct and democratic style of functioning which enabled his party to come back in the Assembly polls.

Commenting that Mr. Gandhi knew how to move with everyone, he said: “The BJP says it does not have an alternative for Mr. Modi, but the country will chose its alternative soon …The BJP will now have to think ten times before denigrating Rahul Gandhi as ‘pappu’,” Mr. Sinha said while delivering a lecture at the Pune Patrakar Sangh.

He said soon after the results, he had received phone calls from several BJP leaders from Jharkhand, who were secretly happy at their own party’s defeat.

Saying that everybody in the BJP was frightened of Mr. Modi, he added that nobody within the party had raised a voice against him [Mr. Modi] and party president Amit Shah despite the party’s spectacular defeat in the key states of Rajasthan, Madhya Pradesh and Chhattisgarh.

“For the last four-and-a-half years, Narendra Modi has been deified by sycophants in the party who think he can do no wrong…Modi thinks he can play God and can bypass the council of ministers. But this defeat will put a check on his arrogance,” Mr. Sinha said, stating that it appeared all administrative activities and policy decisions emanated from the Prime Minister’s Office (PMO).

The veteran politician, who held the Finance and External Affairs portfolios under the Atal Bihari Vajpayee government (1998-2004), hit out at Mr. Modi’s ‘dictatorship’ and said the BJP’s losses had taken the wind out of its sails.

Hitting out at Mr. Modi’s highly authoritarian manner of functioning, Mr. Sinha said that due procedures had been bypassed in the Rafale fighter aircraft deal with the Defence Ministry left in the dark.

“The entire nation is being run only by two persons, Mr. Modi and Mr. Shah [BJP president]. The council of ministers is never taken into confidence while implementing any important policy decision,” he said.

Observing that External Affairs Minister Sushma Swaraj was reduced to being a ‘Twitter Minister’, Mr. Sinha said: “When I was External Affairs Minister under Mr. Vajpayee, he always used to consult me and take me along during his foreign visits. But that portfolio today is sadly reduced to being a political sinecure as Mr. Modi does not bother to consult the External Affairs Minister.”

Similarly, he observed that the Finance Ministry was all but ignored in the momentous decision on demonetisation.

“Demonetisation has achieved nothing except wiping out the livelihood of crores of small traders and bringing about widespread unemployment,” he said.

Mr. Sinha further commented that nobody in the BJP would get a get a shot at leading the party as long as Mr. Modi and Mr. Shah were in control. “There does not seem to be any likelihood of someone else like Nitin Gadkari leading the party as long as Mr. Modi and Mr. Shah are driving the BJP,” he said.

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News Network
June 5,2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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News Network
February 27,2020

New Delhi, Feb 27: The death toll in the communal violence in northeast Delhi over the amended citizenship law reached 32 on Thursday, senior officials said.

It was at 27 till Wednesday night.

"Five more deaths recorded at GTB Hospital, so death toll at that hospital has gone up to 30, taking total toll to 32," a senior Delhi Health Department official told news agency.

The Lok Nayak Jai Prakash Narayan Hospital had reported two fatalities on Wednesday.

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News Network
March 4,2020

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

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