A tribute to Mirza Ghalib, the legendary poet

New Delhi, Mar 9: A war of words broke out between the BJP and the Congress on Sunday over the Yes Bank crisis with the ruling party seeking to link it with the Gandhi family, while the opposition wondered if the prime minister and finance minister were "complicit" as the bank's loan book grew manifold.

Posting on Twitter a clip of a news channel report that Rana Kapoor, the arrested Yes Bank founder, had bought a painting from Congress leader Priyanka Gandhi Vadra, BJP's information and technology wing in-charge Amit Malviya alleged that every financial crime in India has "deep links" with the Gandhis.

The Congress dismissed the charge "fake" and called it a "diversionary" tactic.

It said Priyanka Gandhi had sold an M F Hussain painting of her father Rajiv Gandhi to Kapoor for Rs 2 crore, and the entire amount was disclosed in her income tax return of 2010.

Malviya tweeted, "Every financial crime in India has deep link with the Gandhis. Mallya used to send flight upgrade tickets to Sonia Gandhi. Had access to MMS (Manmohan Singh) and PC (P Chidambaram). Is absconding. Rahul inaugurated Nirav Modi’s bridal jewellery collection, he defaulted. Rana bought Priyanka Vadra’s paintings."

Congress' chief spokesperson Randeep Surjewala asked how does an M F Hussain painting of Rajiv Gandhi sold 10 years ago by Priyanka Gandhi to Yes Bank owner Rana Kapoor and disclosed in her tax returns connect with unprecedented giving of loans of Rs 2,00,000 crore in five years of the Modi government.

"More so, when (Kapoor's) proximity to BJP leaders is well known," he said.

Rubbishing the BJP's allegation, Congress spokesperson Abhishek Manu Singhvi at a press conference said it was a "diversionary" tactic by the government.

He noted that the bank's loan book rose from Rs 55,633 crore in March 2014, the year Narendra Modi became prime minister, to Rs 2,41,499 crore in March 2019.

"Why did the loan book rise by 100 per cent in two years after demonetisation i.e from Rs 98,210 cr in March 2016 to Rs 2,03,534 ar in March 2018? Were PM and FM sleeping, ignorant or complicit?" he asked.

The entire amount Priyanka Gandhi had received was in cheque and was fully disclosed in the income tax return, Singhvi said.

Surjewala, taking to Twitter, said instead of diverting from the real issue of people's money sinking into a bad bank, should not the government answer questions like how did loans given by Yes Bank rise from Rs 55,633 crore in March 2014 to Rs 2,41,499 crore in March 2019, an increase of almost Rs 2,00,000 crore in fiver years of the Modi government.

Why did the loans given by Yes Bank rise by a whopping 100 per cent in just two years after demonetisation, he asked.

Surjewala also questioned why did the prime minister address a conference sponsored by Yes Bank on March 6 despite the RBI moratorium.

"Why did the Haryana BJP government deposit over Rs 1,000 crore in Yes Bank a month ago, knowing that it was sinking? Is this figure Rs 3,000 cr? Did Fadnavis government in Maharashtra make similar deposits?" Surjewala asked.

"Of course, the government's media proxies won't dare to ask these questions. But the nation wants to know!" he said in a series of tweets.

Kapoor, 62, was arrested by the Enforcement Directorate in Mumbai after charges of alleged financial irregularities and mismanagement in the bank's operations surfaced and the RBI and Union government initiated action to control its affairs.

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

The carnage or to put it more precisely the anti Muslim violence in Delhi (February-March 2020) has shaken us all. Analysts are burning midnight oil yet again to understand the deeper causative factors of the same. 

One of the neglected aspects of analysis of communal violence has been the one related to prevalent factor of Caste in Indian society. Caste is inherent in the scriptures called as Hindu scriptures; caste has been the rigid frame work of Hindu society, which has also penetrated into other religious communities in India.

The deeper connection between Hindu nationalism or Hindutva and caste has been explored somewhat but not too many studies have taken up the relationship between the communal violence and caste in India.

Suraj Yengde (IE, Delhi Pogrom is an attempt to Divert attention from Government’s Failures, March 8, 2020) makes some points on this issue. Yengde points out, “Many are still downplaying the Delhi riot as an affliction of Hindutva or Hindu-Muslim binaries. It is neither. It is not religious but caste tensions that encourage such treacherous acts.”    

He quotes from the Gujarat activist Raju Solanki, “in the 2002 Godhra riots there were 2,945 arrests in Ahmadabad. Of these, 1,577 were Hindus and 1,368 Muslims. Among the Hindus arrested, 797 were OBCs, 747 Dalits, 19 Patels, two Baniyas, and two Brahmins. The upper castes became MLAs, the rest were jailed. Also, it is not an accident that Dalits constitute nearly 22% of the total arrests in India; Adivasis 11%, Muslims 20% and OBCs 31%. More than 55% of under trials also come from the same communities (NCRB 2015).”

While this data is on the dot it must be stated that while caste has lot of role in the emergence of politics of Hindutva, in the resultant violence the primary focus has been religion, here caste plays a role which is secondary in some ways.

To trace the outline of the Hindu nationalism’s prime mover RSS; one can definitely say that its formation and rise is primarily due to the rising caste consciousness and the beginnings of struggles aimed at injustices due to the caste Varna System. While Hindu Mahasabha was already on the scene as parallel and opposite to the Muslim League, these formations initially had only Kings and landlords. Later these formations were joined in by some elite, affluent sections of society.

RSS in particular was a response to the ground level changes resulting in coming up of low caste/average people in social and political space. It was the non-cooperation movement led by Gandhi and then the non Brahman movement in Nagpur-Vidarbha area which disturbed the Brahmanical sections, supported by landlord-kings, to take up the agenda of Hindu nation. The core articulation of Hindutva politics was to present the glorious ancient times, when Manu Smriti’s laws ruled the roost. These were getting a jolt now as the efforts of Joti Rao Phule and later the campaigns of Ambedkar started empowering the downtrodden dalits. This was a serious threat to Brahmanical system.

While this was the core an external threat was to be created to ‘unify’ Hindu society. And here the Muslims, Muslim Kings rule came in as handy. It is this anti Muslim tirade and actions which was the frontage for Hindutva, while the anti dalit-agenda was the real underlying motive. The whole of Shakha (RSS branches) baudhiks (intellectual sessions) were structured around this. The promotion of communal historiography, the hatred for Muslims was the visible part of RSS training, while glorification of past is the fulcrum which in a way is the code language for retaining the hierarchy of caste and also of gender.

Practically also if we see the strengthening of Hindutva began on the issue of a Muslim king destroying the temple of the birth place of Lord Ram, this campaign got its vitriol after the implementation of Mandal Commission in 1990. The anti Muslim Hate and promotion of values of caste and gender hierarchy are synthesized by Hindutva politics. That’s as far as the political agenda of Hindu nationalism goes. As far as communal violence is concerned, it has been an anti Muslim work through and through. All the statistics shows that victims of communal violence are primarily Muslims, around 80% of victims being Muslims. These Muslims do come from all sections of Muslims, more from the poor.

The caste comes into operation in the mechanism of riot production. Hindutva politics, through its extensive network has been working relentlessly among dalits. The recent book by Bhanwar Meghwanshi, “I was a Kar Sevak”, brilliantly describes the mechanism of co-opting dalits into the agenda of sectarian politics. RSS has floated innumerable organizations, like Samajik Samrasta Manch, which work among dalits to promote Brahmanical values and to integrate dalits into the scheme of Hindutva politics. They are made to act as foot soldiers of Hindu nationalist politics. Those who spread hate through indoctrination and propaganda are safe in their cozy houses or offices while the poor dalits are made to soil their hands with the blood of religious minorities.

The face of Gujarat violence, Ashok Mochi, now talks of dalit-Muslim unity. The data compiled by Raju Solanki and quoted by Yengde is the norm in the cases of violence in India. Those who are incited, those who are later charged with violence are not the ones who give donations to RSS or support its various activities. Most of these do come from the sections of indoctrinated youth from downtrodden communities.

Yengde has done a valuable job in drawing our attention to the role of caste in communal violence; the problem with his thesis is the undermining the role of ‘Hate against religious minorities’, which is the base on which the violence is orchestrated. The extent and degree of indoctrination done through shakhas is very powerful and effective. This can gauzed from the experiences of the likes of Bhanwar Meghwanshi, who tells us the difficulties he had to face to come to grips of reality of caste while overcoming the RSS propaganda.