Govt rejects demand for PM's reply on demonetisation debate

November 17, 2016

New Delhi, Nov 17: Government today rejected the demand for Prime Minister Narendra Modi's response on the debate on demonetisation and accused the opposition of using it as an excuse to scuttle discussion on the issue in Parliament.

GovtInformation and Broadcasting Minister M Venkaiah Naidu told reporters after Parliament was adjourned for the day, amid protests by opposition demanding Modi's presence, that the reply to the debate would be given by the minister concerned or any other person on behalf of the government as per the rules of the House and precedents.

The opposition disrupted the Rajya Sabha, stalling midway the discussion on demonetisation that started yesterday.

A united opposition's relentless demand for a debate on demonetisation under a rule which entails voting forced the adjournment of the Lok Sabha also for the day as the government refused to accept it.

"Half way through, they realised that by raising such a debate it is going negative on them and boomeranging. Now I am afraid, are they trying to find a way out to come out of this and then stall the debate on one pretext or the other," Naidu said.

Dubbing the uproar by Congress and other opposition parties as an "excuse" to stall a debate, Naidu alleged that there is no rationale, whatsoever, behind it.

The Minister said things will happen as per the rules and procedures of the House and urged that the debate should go on.

"I feel that those who started the debate are now understanding that it is going negative, that is why they are finding excuse for not allowing the discussion.

"They are speaking in double tone and in different voices. They are not coming out openly either for or against. They are in dilemma and that dilemma will continue," he said.

Naidu said the entire country is watching as to who are with the hoarders and with the people with black money and who are with the government and the Prime Minister, who has "taken such a revolutionary step. They have to make a choice".

"Let the discussion take place. Then who will reply in the government. It could be the concerned Minister. The solution will come through the government as per traditions and rules," he said.

Naidu said government is addressing the problems faced by people on demonetisation and any suggestion, if worth considering, will be take up positively.

"Government is open to ideas to improve the system. But if somebody is trying to question this and attribute motives, then people are there to finally come to an assessment and decide. Let every party decide are they in favour of this move or against it, for which they have no answer directly," the minister said.

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c.m bin
 - 
Thursday, 17 Nov 2016

cancel this PM. see korea and build the nation.

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News Network
February 17,2020

New Delhi, Feb 17: Four death row convicts in the 2012 Nirbhaya gang rape and murder will be hanged on March 3 at 6 am a Delhi court said on Monday.

The Patiala House Court on Monday issued fresh death warrants against four convicts while hearing a petition by the state and Nirbhaya's parents.

Earlier, Delhi High Court on February 5 granted a week's time to the four convicts to avail of all legal remedies available to them and said that the convicts cannot be hanged separately since they were convicted for the same crime.

A Delhi Court had earlier issued a death warrant against the four convicts -- Vinay Sharma, Akshay Thakur, Pawan Gupta, and Mukesh Singh -- on January 7 and they were scheduled to be executed on January 22 at Tihar Jail. Later, the execution was suspended indefinitely by a Delhi court.

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News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

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News Network
May 9,2020

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

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