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.

Comments

Mohan
 - 
Sunday, 23 Oct 2016

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

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News Network
May 10,2020

May 10: Delhi recorded five more deaths due to coronavirus, while 381 fresh cases of the virus were reported, the city government said on Sunday.

With the fresh cases, the virus tally in the national capital has climbed to 6,923.

Between midnight of May 8 and midnight of May 9, five fresh fatalities due to the virus were reported, taking the death toll to 73, the government said in its health bulletin.

While there are 4,781 active cases of the virus in the city, 2069 patients have so far recovered from COVID-19.

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News Network
March 29,2020

New Delhi, Mar 29: The Centre on Sunday asked state governments and Union Territory administrations to effectively seal state and district borders to stop movements of migrant workers during lockdown, officials said.

During a video conference with Chief Secretaries and DGPs, Cabinet Secretary Rajiv Gauba and Union Home Secretary Ajay Bhalla asked them to ensure that there is no movement of people across cities or on highways as the lockdown continues.

"There has been movement of migrant workers in some parts of the country. Directions were issued that district and state borders should be effectively sealed," a government official said.

States were directed to ensure there is no movement of people across cities or on highways.

Only movement of goods should be allowed.

District Magistrates and SPs should be made personally responsible for implementation of these directions, the official said.

Adequate arrangements for food and shelter of poor and needy people including migrant labourers be made at the place of their work, the official said.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

Comments

SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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