Cong demands PM Modi’s apology for ‘insulting’ Bengaluru

Agencies
May 5, 2018

New Delhi, May 5: The Congress today accused Prime Minister Narendra Modi of "insulting" Bengaluru and the people of Karnataka by calling it a "valley of sins" and demanded his apology for his "deplorable" remarks.

Congress chief Rahul Gandhi described Bengaluru as the garden city and the pride of India and said calling it a "garbage city" is "insulting".

"Building lies comes naturally to you, but you seem to find building cities very difficult. The data nails your lies," he said on Twitter, targeting the prime minister.

"Cosmopolitan, innovative and historic, beautiful Bengaluru, India’s pride, is the world’s most dynamic city!," he said in another tweet, adding that his government is committed to investing Rs 1 lakh crore to further develop Bengaluru and other cities in Karnataka.

Congress spokesperson Abhishek Singhvi said that as the Karnataka assembly election approaches, "the fears, frustration and follies of the BJP grow due to its impending defeat and this is reflected in the idioms and the language used by its leaders including the prime minister".

He also accused Modi of spreading "divisiveness" in the poll-bound state and alleged that such language was being used to divert the public attention from key issues such as the Cauvery water dispute, the dilution of the Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, joblessness and declining economy.

Singhvi said the prime minister failed to be the custodian of federal cooperation and maintain equilibrium between Karnataka and Tamil Nadu in the Cauvery river water-sharing dispute.

"You accuse Bengaluru, the Kannadiga of being a ‘valley of sin'. I think it is shameful and I think the country needs an apology which I am sure we will never get from the prime minister," he told reporters.

"As you see the heat mounting up on this campaign, you find the defamatory, the criminally culpable statements coming, deliberately inflaming and inciting communal passions, deliberately polarising communities, religious and groups and comprising blatant falsehood," he alleged.

The Congress leader said the country's prime minister lacked his grasp of the country's history as was evident from his yesterday's "false and superficial" statements on Field Marshal K C Cariappa and General K S Thimayya.

"The prime minister in his insatiable urge bordering on greed to attack the Congress party actually ended up insulting comprehensively the people of Karnataka, insulting each and every one of its entrepreneurs, insulting each and one of its IT technologists and labelling Bengaluru as the ‘valley of sin' from the Silicon Valley," he said.

"This is SIN - a ‘Special Insult. ‘S' for special and IN for insult which the prime minister of the country has heaped upon Bengaluru and the people of Karnataka," he said.

Describing Bengaluru as a birthplace of IT giants, a technological hub, a start-up hub, he said, "The prime minister has ignored the ‘S' for superior, the ‘I' for Information Technology and ‘N' for Novelty and calls it ‘SIN'."

He said, "The prime minister ignores the ‘S' for Super Highway which Bengaluru and its IT industry are and ignores the ‘I' for IT and the ‘N' for Network. He only finds 'SIN' and that is "deplorable" as he is unable to create jobs and stop farmer suicides, and instead accuse Bengaluru, the ‘Kannadiga' of being a ‘Valley of Sin'."

"The higher the divisiveness factor, the higher goes the BJP's decibel. Their decibel is linked to divisiveness. Why it is - to digress and draw the attention of the people of Bengaluru and Karnataka away from their failures in one day yesterday," he alleged.

In a full-scale attack on the Siddaramaiah government in Karnataka on city-related issues, Prime Minister Narendra Modi yesterday accused it of having turned Bengaluru into a "garbage city and valley of sin" from "Silicon Valley." 

Comments

MR
 - 
Sunday, 6 May 2018

All the perfumes in Arabia cannot wash away the sins Modi alone has committed.

People of Karnataka will give him a fitting reply by voting for Congress!

 

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News Network
March 21,2020

Mar 21: India’s economy, already in the grip of a slowdown, is in for more pain after Prime Minister Narendra Modi appealed to citizens to stay at and work from home to curb the coronavirus outbreak.

The services sector, which accounts for about 55% of India’s gross domestic product, is poised to be the worst hit after Modi, in a late evening address on Thursday, urged citizens to go on a self-imposed curfew for a day and private companies to allow employees to work from home for longer. In the country’s vast informal sector, social-distancing measures could mean a dent to productivity and consumption because of job or pay losses.

“The impact of a partial lock-down or social distancing will be significant,” said Rahul Bajoria, a senior economist at Barclays Plc in Mumbai. “If there’s a widespread community outbreak, GDP could fall as low as 3.5% in the year starting April 1.”

Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% in the current year to March 31. Before the virus outbreak, India had forecast growth to recover to 6%-6.5% in the next fiscal year. S&P Global Ratings and Fitch Ratings have already slashed their growth forecast by 50 basis points.

“The current social-distancing measures will severely impact airlines, hotels, malls, multiplexes, restaurants and retailers,” according to analysts at Crisil Ltd., the local unit of S&P Global. “Lower footfalls and occupancies, decline in business volume and sub-optimal operating efficiencies will impact cash flows of companies in these sectors,” wrote the analysts led by Chief Economist Dharmakirti Joshi.

The government will try to announce a relief package for virus-affected sectors as early as possible, Finance Minister Nirmala Sitharaman said Friday.

In a televised address, Modi advised all citizens to stay at home for a day on March 22, as he sought to stem the spread of the coronavirus -- cases of which are relatively low in India at about 200, compared with more than 200,000 infected people globally. His government also barred incoming flights for a week from that day, joining a growing list of countries effectively sealing their borders.

What Bloomberg’s Economists Say

We had only earlier this week lowered our GDP outlook to consider the direct impact of the local outbreak as confirmed virus cases exceeded 100 as of March 15 and the federal and state governments announced social distancing measures that have already started to crimp economic activity. We are now revising down our GDP estimate for 4Q fiscal 2020 to 3.3%, from our 3.5%.

-- Abhishek Gupta, India economist

For more, click here

“Consumption being the biggest component of GDP, a lock-down is bound to have a big impact on the economy,” said Devendra Kumar Pant, chief economist at India Ratings and Research, the local unit of Fitch. “Modeling uncertainty in any system will be very difficult, but one can say the slowdown could deepen or prolong further.”

Work From Home

While companies, including billionaire Mukesh Ambani-controlled Reliance Industries Ltd., are asking employees to work from home, the option isn’t feasible in India’s vast informal sector.

“The option to work remotely simply won’t exist for most,” said Shilan Shah, an economist with Capital Economics Pte. in Singapore.

As many households don’t have savings buffers, the government would probably have to back this up with large-scale cash handouts that reach the poorest, he said.

Work from home is posing implementation challenges for the manufacturing sector where workers are required to be physically present at the production sites. The services sector, such as banking and information technology, also needs employees to be present in offices as confidential data is used, according to industry group Federation of Indian Chambers of Commerce and Industry.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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Agencies
January 16,2020

New Delhi, Jan 16: In trouble brewing for the Gautam Adani-led M/S Adani Enterprises, the Central Bureau of Investigation (CBI) on Thursday said that it has registered a case against former officials of the National Co-operative Consumer Federation (NCCF) and others over alleged irregularities in supply of coal to the Andhra Pradesh Power Generation Corporation (APGENCO) in 2010.

The CBI in its FIR has named Virendra Singh, the then Chairman of the NCCF, G P Gupta, the then MD of the NCCF, S C Singhal, the then Senior Advisor of NCCF, Adani Enterprises Ltd and other unknown public servants and others for criminal conspiracy, cheating and criminal misconduct by public servants.

According to CBI, the case was filed on Wednesday after the preliminary enquiry revealed the crime by the officials named in the FIR and the Adani Enterprises was found to be true.

The FIR alleged that on June 26, 2010, APGENCO floated a tender enquiry for supply of six lakh metric tonnes of imported coal "on free on rail destination" basis to Dr Narla Tata Rao Thermal Station (NTTPS), Vijaywada and Rayalasaleema Thermal Power Plant (RTTP), Kadapa, Andhra Pradesh/RTPP via Kakinada-Vizag-Chennai-Krishnapatnam or any other ports

The same was forwarded by the Chief Engineer, APGENCO to seven PSUs -- PEC Limited, STC Limited, MSTC Limited, NCCF, MMTC, Coal India Limited and SCCL Limited.

The FIR alleged that during the probe, the Adani Enterprises used a proxy company to get the supply contract. It said, "NCCF received bids from six companies -- Adani Enterprises Ltd, Maheshwari Brothers Coal Limited (MBCL), Vyom Trade Links Pvt. Ltd, Swarana Projects Pvt. Ltd, Gupta Coal India Ltd and Kyori Oremen Ltd.

During investigation it was found that Gupta Coal India Ltd had quoted the NCCF margin of 11.3 percent, while the MBCL quoted the margin of 2.25 percent and rest did not quote any margin to the NCCF.

The FIR said the quotes of the Gupta Coal India Ltd, Kyori Oremen Ltd and Swarana Projects Pvt. Ltd were rejected by the NCCF as they were not found to be fulfilling the tender conditions.

"Post tender negotiation was done by senior officials of NCCF to give undue favour to Adani Enterprises Ltd despite it not qualifing the tender (terms)," the FIR said, adding instead of cancelling the bid of Adani Enterprise Ltd, senior management of NCCF conveyed the offer margin to the company through one of its representative -- Munish Sehgal, who was sitting in the NCCF head office. It is prima facie evident that when the bids were being processed at NCCF head office in Delhi, a representative of Adani Enterprises Ltd. was informed regarding their imminent rejection due to non-submission of NCCF margin and also that MBCL was eligible bidder quoted 2.25 percent margin," it alleged.

The CBI in its FIR, further alleged that Adani Enterprises Ltd. had given an unsecured loan of Rs 16.81 crore to Vyom Trade Links Ltd in 2008-09. "And further it was revealed that the bank guarantees of the Adani Enterprises Ltd. and Vyom Trade Links Ltd. were issues by the same branch of the State Bank of India and at the same time," it said.

"It was clear that Adani Enterprises Ltd. presented Vyom Trade Links Ltd. as a proxy company in this particular tender and Vyom Trade Links Ltd. later withdrew its offer on flimsy ground," the CBI FIR said.

"The aforesaid acts of commissions and omissions on the part of the senior management of the NCCF disclose that during their tenure, they acted in a manner unbecoming of public servants and committed irregularities by way of manipulation in the selection of bidders, thereby giving undue favours to Adani Enterprises Ltd. in award of work for supply of coal to APGENCO despite its disqualification," it added.

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