Blame game starts over Saharanpur violence

July 27, 2014

New Delhi, Jul 27: Political blame game has begun over the violence in Saharanpur with Congress accusing the UP government of "administrative lapse" while BJP alleged that Samajwadi Party was indulging in "vote-bank politics".

violenceReacting to the charges, Samajwadi Party said there was an effort to "disrupt peace in the state" and that there was "no place for communalism, anti-social elements".

SP leader Rajendra Chaudhary said that if the opposition tried to do politics on the issue, then the law will take its own course.

Blaming the local authorities for "administrative lapse", Congress leader Rita Bahuguna Joshi said that if it was a fact that there was a court judgement on the issue and police help was sought by one side, then it was the responsibility of the officials to find a solution by making both sides understand that the court order must be implemented.

"There was confrontation between two communities and a place of worship is near the police station. If it is a fact that there was a court judgement and they sought help from the police, then it was the responsibility of the police to make both the sides sit down and find a solution.

"But letting the dispute fester... it's an administrative lapse and the local administration to some extent is responsible for this," Joshi said.

BJP leader Shahnawaz Hussain said, "The UP government has completely failed to run the administration in the state. The people ruling the state themselves want that there is communal tension so that they do vote-bank politics.

"BJP wants amity and peace. Every person has the right to worship and nobody has the right to interfere in that. But Akhilesh Yadav's government is weak on every front. A message has gone that there is nothing called government in the state. Whenever there are such tense situations, the government proves to be incompetent."

Three persons were yesterday killed and 19 others, including policemen, injured in the clashes as mobs indulged in arson after which curfew was clamped and shoot-at-sight ordered.

SP leader Chaudhary said, "There is an effort to disrupt peace in the state... there are local issues of people and some people think that they can do politics on it. In UP, there is no place for communalism, anti-social elements.

"There is rule of law in the state. If some people in the opposition try to do politics on this, then law will take its course."

He appealed to the people to work with restrain and maintain harmony.

Manoj Jha of RJD alleged that there has been a rise in such incidents since the NDA government has come to power at the Centre.

"Elections can be fought, won and lost, but if you lose the soul of the country, then no matter how much you try, one cannot salvage it," Jha said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 11,2020

Malappuram, Apr 11: Farmers in Malappuram district are facing problems in selling cucumbers and watermelons due to the drop in demand and prices in the market amid the nationwide COVID-19 lockdown.

"We have cultivated cucumbers for our Vishu festival in Kerala. In recent conditions, we are facing issues in selling our crops. In comparison to the previous years, we have a huge production this time," said Saifu, a farmer in the Malappuram district.

"We have also cultivated different kinds of watermelons here. The major issues that we are facing are the low prices and the lockdown," he added.

The nationwide COVID-19 lockdown was imposed by Prime Minister Narendra Modi form March 25 for 21 days as a precautionary measure against the spread of the virus.

According to the Union Ministry of Health and Family Welfare, the total number of positive COVID-19 cases in Kerala is 364. Till now, 123 people have either been cured or discharged, while two deaths have been reported.

The total number of positive coronavirus cases across the country are 7,529 including 6,634 active cases. So far, 652 patients have either been cured or discharged while 242 deaths have been recorded in the country, as per data provided by the Ministry of Health on Saturday evening.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.