PM Narendra Modi warns of 'surgical strikes' against black money, corruption

October 23, 2016

Vadodara, Oct 23: Using the analogy of surgical strikes, Prime Minister Narendra Modi on Saturday wondered what would have happened if the government had adopted similar strategy in the recent campaign against blackmoney, which unearthed Rs 65,000 crores.

modi copy"We gave some time to those who had generated black money (to declare it). You will be happy to know that Rs 65,000 crore in black money came into mainstream with payment of tax and penalty.

"Now think, Rs 36,000 crore that was leaking has been stopped (by direct benefit transfer), and Rs 65,000 crore of black money is unearthed, together it is Rs one lakh crore.

"And this Rs one lakh crore has been brought back without launching surgical strikes," Modi said, invoking the term used for recent operation by Army against terror launch pads in Pakistan-occupied-Kashmir.

"If we do surgical strikes (in this area), you can imagine what all will come out," the Prime Minister said.

Modi said he has put up a sustained fight against corruption since he took charge.

"Against corruption, without much publicity I have put up a sustained fight. Government's assistance (now) goes directly in the bank accounts of beneficiaries, cutting out middlemen.

"Just by ensuring that right person gets the benefit and wrong person cannot take it, we have saved Rs 36,000 crore, which used to leak in the form of (subsidies for) gas cylinders, scholarship, pension," Modi said.

Modi, speaking at a camp to distribute 'assistive devices' to over 8,000 `Divyangs' (disabled persons) here, also criticised past governments for not doing enough for the disabled.

After distributing aid devices to the disabled, the Prime

Minister said, "Knowingly or unknowingly, this country has remained insensitive towards the Divyangs.

"The government buildings only had facility for healthy persons. We launched Sugamya Bharat mission, so that government buildings, hospitals, platforms are built in such a way that they have access facility for the Divyangs."

Previous governments did not do enough in this field, he said.

"Governments in the past had also worked in this direction. But you will be shocked to know that since 1992, when work started in this direction, till 2014, only 56 such camps (for distributing assistive devices) for Divyangs were organised. After this government came, 4,500 such programmes were held," Modi said.

"So far, 5.50 lakh Divyangs from across the country have been provided direct benefit.

"In the central government, I came to know that 16,500 posts for Divyangs were vacant. I told my Ministers to fill up these vacant posts. I can say with satisfaction that 14,500 such posts have been filled up," Modi said.

The Prime Minister also said his government had started work for having `common sign language', as at present different sign languages are used in different parts of the country.

Referring to the country's economic growth, he said India was a bright spot in the world.

"Today in the entire world, one thing about this country is being praised. The world says that India is the fastest growing economy in the world. Be it World Bank, IMF or credit-rating agencies, the entire world says in one voice that India is developing very fast.

"Solution to all problems lies in development. Only through development can illiteracy, disease, poverty be removed," Modi said.

"Remember the days of 2014, or 2013, what were the headlines? They did this much (corruption) in coal, so much in spectrum. Since the time you gave me the responsibility, in two and a half years the news is (about) doing good for Divyangs, India's progress in world economy and development," Modi said.

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Sunday, 23 Oct 2016

Gareebi Lavo, India Ko Dubavo is the hidden slogan of this PM

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Agencies
June 16,2020

Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.

Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.

So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.

Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.

Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.

In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.

Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.

The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.

He has also worked extensively with Gulf sovereign wealth funds over the years.

"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.

"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.

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News Network
January 17,2020

New Delhi, Jan 17: A Delhi court Friday issued fresh death warrants for February 1, 6 am against the four convicts in the Nirbhaya gang rape and murder case.

Additional Sessions Judge Satish Kumar Arora was hearing a plea by one of the four death row convicts in the case, Mukesh Kumar Singh, seeking postponement of the date of his execution scheduled for January 22.

Earlier in the day, the Tihar jail authorities sought issuance of fresh death warrants against the four convicts.

Public Prosecutor Irfan Ahmed told the court that Mukesh's mercy plea was rejected by President Ram Nath Kovind on Friday.

The 23-year-old paramedic student, referred to as Nirbhaya, was gang-raped and brutally assaulted on the intervening night of December 16-17, 2012 inside a moving bus in south Delhi by six persons before being thrown out on the road.

She died on December 29, 2012, at Mount Elizabeth Hospital in Singapore.

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News Network
May 6,2020

New Delhi, May 6: Taking a cue from states, the Centre announced one of the steepest hikes in duties on petrol and diesel in the recent past, by raising it by Rs 10 and Rs 13 per litre, respectively, in a notification issued late on Tuesday.

Retail prices, however, will see no change as the price hike will be absorbed by oil marketing companies against the fall in crude prices.

Road and infrastructure cess was hiked by Rs 8 for petrol and diesel and the special additional excise duty (SAED) was hiked by Rs 2 per litre and Rs 5 per litre, respectively. While the road cess will only go into the Centre’s coffers, the hike on account of SAED will be passed on to states via devolution at 42 per cent. Hence, the states will get only Rs 0.84 per litre in case of petrol and Rs 2.1 in case of diesel.

The decision comes after several states increased the value added tax (VAT) on petrol and diesel making use of the lower price regime. The Delhi government on Tuesday increased VAT on petrol and diesel to 30 per cent each, from 27 and 16.75, respectively. As a result, the price of petrol in Delhi increased by Rs 1.67 to Rs 71.26 a litre and diesel by Rs 7.10 to Rs 69.29 in Delhi on Tuesday.

Amid falling international crude oil prices, the Centre introduced an enabling provision in March to raise excise duty on petrol and diesel by Rs 8 per litre in the Finance Act. The government had on March 14 raised excise duty on petrol and diesel by? 3 per litre each, which was to help raise an additional ?39,000 crore in revenue annually.

This duty hike included Rs 2 a litre increase in SAED and Rs 1 in road and infrastructure cess. It raised SAED to Rs 10 for petrol and Rs 4 for diesel. The limit has now been increased to Rs 18 a litre in case of petrol and Rs 12 in case of diesel by way of amendment of the Eighth Schedule of the Finance Act.

Economists said the move would impact retail inflation by over half a percentage point at least. “With lower consumption, there was loss of revenue for Centre and states, who earn Rs 6 trillion annually or Rs 50,000 crore monthly from fuel. Amid lockdown in April, the collection must have come down to just Rs 5,000 crore, and this will hold for May.

This means that Centre and states have lost 20 per cent of annual revenue from fuel. Hence, they have hiked duties to recover losses,” said Madan Sabnavis, chief economist, CARE Ratings. He added that the hike will impact inflation by at least 0.6-0.7 percentage points.

According to industry experts, an estimate of the additional government revenue cannot be made as the consumption of petrol and diesel has dropped to 40 per cent of what it was before the lockdown. The duty hike comes following a drop in international crude oil prices in April, owing to lower consumption figures globally. At 11.50 pm on Tuesday, Brent was priced at $30.67 a barrel, while West Texas Intermediate (WTI) crude was seen at $24.36 a barrel. On Monday, the Indian basket of crude oil was priced at $23.38 a barrel, after touching a 15-year low last month.

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