Those behind chit fund scams attacking me, claims Modi

November 21, 2016

Agra, Nov 21: Prime Minister Narendra Modi on Sunday said political leaders behind multi-crore chit fund scams are attacking him as they have been hit hard by demonetisation.

modichitModi’s remarks were seen as a sharp attack on West Bengal Chief Minister Mamata Banerjee.

The prime minister also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power.

Addressing a ‘Parivartan rally’ here, Modi cautioned people holding Jan Dhan accounts not to allow themselves to be used for laundering the money of the rich by depositing their ill-gotten wealth as they could unnecessarily get into problems with the law.

“I know what sort of people are raising their voice against me. Does the country not know whose money was invested in chit fund business? Lakhs and crores of poor people invested money in chit funds. But with the blessings of politicians, crores and crores of rupees have vanished,” he said in barbs aimed apparently at Mamata, who had been rallying political leaders against the demonetisation decision. However, the prime minister did not name any leaders.

Veiled attack on Congress

Modi said previous governments did not take any step to check black money as they were worried more about losing power than about the country.

“For how long will the country keep quiet? They (previous governments) kept quiet for 70 years. Not because they were unaware of this disease. They worried less about country and more about power. That’s why they were not ready to take any step (to check it),” the Prime Minister said, in a veiled attack at Congress.

He said fake currency notes were pushed into the country and because of the demonetisation, the business of drugs and other narcotics have come to stand still. “This is a big jolt to the business of fake Indian currency,” the prime minister said.The prime minister said his demonetisation decision had severly hit the parties whose leaders seek money in lieu of tickets for contesting Assembly polls, in a veiled attack on BSP chief Mayawati, who has been facing such charges.

“I know some people have lost everything (because of demonetisation). (if) you have to become MLA, bring so many notes, then you will become an MLA. Notes had been stashed. What will happen to these notes? Whom did these notes belong to? Did these not belong to the poor and honest people? This game should come to an end,” Modi said here in the poll-bound state.

Comments

naren kotian
 - 
Monday, 21 Nov 2016

look at the comments ,it is well understood ... why burnol sales and itch guard sales went up in one particualr community dominatd areas ... hahaha instead of screaming one mullah also came and start commenting hahahaha.... jai sri ram ... we must over throw this jihadist menace and their empire built around with a parallel exconomy must be brutally crushed ... we are with you narendra modiji ... clamp down on all bhagyas ..

Arif
 - 
Monday, 21 Nov 2016

When more than 50% people do not have bank accounts and when 85% of the cash is removed from the market, mathematics say that something has to go wrong.

Ibrahim
 - 
Monday, 21 Nov 2016

No hope of recovery...... sab kuch khatam hogaya lagta hai

Skazi
 - 
Monday, 21 Nov 2016

What else we can expect from this Beef Exporter and Slave of Bellary reddy ....

abdullah
 - 
Monday, 21 Nov 2016

Chor sale andha hai kya ???
Thuje nazar nehi aatha desh me kya horaha hai our ghareeb log kitne mushkil utaarahehain there waje se...

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Agencies
February 26,2020

New Delhi, Feb 26: The death toll in northeast Delhi communal violence over the amended citizenship law rose to 20 on Wednesday, according to GTB Hospital authorities.

On Tuesday, the death toll was 13.

"The death toll has risen to 20 today," Medical Superintendent of GTB Hospital, Sunil Kumar, told PTI.

Earlier, at least four bodies were brought to the Guru Teg Bahadur Hospital from the Lok Nayak Jai Prakash Narayan Hospital, a senior official said.

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News Network
May 28,2020

May 28: Abdul Kareem was forced out of school and into a life of odd jobs like repairing bicycles before he finally managed to pull his family out of abject poverty transporting goods across Delhi in a mini truck.

The job, and the slim financial security that came with it, was the first stepping stone to a better life.

All that is now gone as India reels under the economic impact of its protracted coronavirus lockdown. Mr Kareem's out of a job and stranded in his village in Uttar Pradesh with his wife and two children. Their minuscule savings from his Rs 9,000 a month job have been exhausted, and the money he saved for books and school uniforms is spent.

"I don't know what the job situation will be in Delhi once we go back," Mr Kareem said. "We can't stay hungry so I will do whatever I find."

At least 49 million people across the world are expected to plunge into "extreme poverty" -- those living on less than $1.90 per day -- as a direct result of the pandemic's economic destruction and India leads that projection, with the World Bank estimating some 12 million of its citizens will be pushed to the very margins this year.

Some 122 million Indians were forced out of jobs last month alone, according to estimates from the Center for Monitoring Indian Economy, a private sector think tank. Daily wage workers and those employed by small businesses have taken the worst hit. These include hawkers, roadside vendors, workers employed in the construction industry and many who eke out a living by pushing handcarts and rickshaws.

For Prime Minister Narendra Modi, who came to power in 2014 promising to lift the poorest citizens out of poverty, the fallout from the lockdown brings with it significant political risk. He won an even larger second term majority last year on the strength of his government's popular social programs that directly targeted the poor, such as the provision of cooking gas cylinders, power and public housing. The breadth and depth of this renewed economic pain will only increase the pressure on his government as it works to steer the country's economy back on track.

"Much of the Indian government's efforts to mitigate poverty over the years could be negated in a matter of just a few months," said Ashwajit Singh, managing director of IPE Global, a development sector consultancy that advises several multinational aid agencies. Noting that he did not expect unemployment rates to improve this year, Singh said: "More people could die from hunger than the virus."

Desperate Times

Mr Singh points to a United Nations University study estimating 104 million Indians could fall below the World Bank-determined poverty line of $3.2 a day for lower-middle-income countries. This will take the proportion of people living in poverty from 60% -- or 812 million currently, to 68% or 920 million -- a situation last seen in the country more than a decade ago, he said.

A World Bank report found the country had been making significant progress and was close to losing its status as the country with the most poor citizens. The impact of PM Modi's lockdown risks reversing those gains.

The World Bank and the CMIE estimates were published in late April and early May respectively. Since then the situation has only become grimmer, with harrowing images of people making desperate attempts to reach their villages, on crowded buses, the flatbeds of trucks and even on foot or on bicycles dominating media coverage.

The Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business analyzed the unemployment data from the CMIE, collected through surveys covering about 5,800 homes across 27 states in April.

Researchers found rural areas were the hardest hit, and the economic misery was the result of the lockdown, rather than the spread of infections in the hinterland. More than 80% of households had experienced a drop income and many won't survive much longer without aid, they wrote in a report.

The government has promised cheap credit to farmers, direct transfer of money to the poor and eased access to food security programs -- but these help people who have some documentation, which many of the poorest don't. With millions of impoverished people now in transit across the country, the food security situation is dire -- news reports are emerging of people foraging through piles of rotting fruit or eating leaves.

Shattered Economy

The economy was already growing at its slowest pace in over a decade when the virus struck. The lockdown, which came into effect on March 25, has hammered it, stalling business activity and putting a lid on consumption, pushing the economy to what may be its first full-year contraction in more than four decades.

It's dire enough to warrant the country exiting its lockdown, as it has been doing incrementally since May 4, even as its infections are surging. India is now Asia's virus hotspot with infections crossing 151,000 according to data from Johns Hopkins University.

PM Modi, who has come under criticism for the pain inflicted on the poor, has said his government will spend $265 billion or about 10% of its GDP to help Asia's third-largest economy weather the pandemic's fallout. But experts say only a part of it is direct fiscal stimulus, and probably smaller than the total damage done to the economy during the lockdown period.

"What is especially worrying is the government's response," said Reetika Khera, an economics professor at the Indian Institute of Technology in Delhi. "The epidemic will magnify existing -- and already high -- inequalities in India."

Still, the economic measures aren't going to kick in for some time and industry will likely struggle to restart because of the flight of labour from industrial hubs.

And as the harsh summer unfolds more pain lies in store in the villages now dealing with returning migrant workers.

"There are no factories or industries here, there are just hills," said Surendra Hadia Damor, who had walked nearly 100 km from Ahmedabad, Gujarat, before a voluntary organisation drove him to his village in the neighboring state of Rajasthan. "We can survive for a month or two and then try and find a job nearby -- we will see what happens."

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Agencies
February 10,2020

New delhi, Feb 10: The Supreme Court on Monday upheld the constitutional validity of the SC/ST Amendment Act, 2018, and said a court can grant anticipatory bail only in cases where a prima facie case is not made out.

A bench headed by Justice Arun Mishra said a preliminary inquiry is not essential before lodging an FIR under the act and the approval of senior police officials is not needed.

Justice Ravindra Bhat, the other member of the bench, said in a concurring verdict that every citizen needs to treat fellow citizens equally and foster the concept of fraternity.

Justice Bhat said a court can quash the FIR if a prima facie case is not made out under the SC/ST Act and the liberal use of anticipatory bail will defeat the intention of Parliament.

The top court's verdict came on a batch of PILs challenging the validity of the SC/ST Amendment Act of 2018, which was brought to nullify the effect of the apex court's 2018 ruling, which had diluted the provisions of the stringent Act.

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