Congress can never die, India needs it: Ashok Gehlot

Agencies
May 25, 2019

New Delhi, May 24: The Congress can never die and the country needs it, Rajasthan Chief Minister Ashok Gehlot asserted on Friday and said the party will again reach out to people to ascertain the reasons for its drubbing in the Lok Sabha polls.

The senior Congress leader said the BJP played on emotions and sentiments of the people and never fought on real issues.

During the election campaign, the people never got to know the BJP's vision for the country and stand on issues such as unemployment, farm distress and economy, he said.

The Rajasthan chief minister said the people's mandate in a democracy is important and his party accepts it with humility, but expressed his anguish at the manner in which the BJP rode to victory banking on religion, caste and nationalism instead of relying on issues of the people.

"People's mandate in a democracy is topmost and the Congress has protected it all these 70 years since Independence and accepted it with humility. I am pained that in this election the campaign was not issue-based and there was nothing for the farmers, poor, villages, backwards, Dalits and there was no discussion on providing jobs to youths," he told news agency.

"The BJP did politics only on religion, caste, nationalism and the bravery of soldiers. Rahul Gandhi did a lot to try and make the campaign issue-based. But, no vision for future was given and no achievements were listed and the BJP won over people by speaking lies. People got swayed and voted for them," he said.

Gehlot, in whose state the Congress got wiped out and his son lost in Jodhpur, recalled the time when former prime minister Indira Gandhi lost in 1977 but steered the party back to victory three years later.

"The Congress is in the same position as it was when Indira Gandhi had lost. But, she won back the mandate of people and the party ruled for over 25 years. While victory and defeat are part of democracy, but we would want that in the future the campaign should not go the way it has gone in this election," he said.

The senior Congress leader said "sabka saath, sabka vikas" means something else for the BJP, but for the Congress its true meaning is that people of all religions, castes, creed and groups should be united and their progress should be ensured.

He said party chief Rahul Gandhi has said that it is a fight for ideology and there is no personal animosity with the BJP.

"In this election, the mandate has not been given on the basis of ideologies, it is given by invoking the sentiments and emotions of people and only time will tell whether they stand on the hopes and aspirations of people," he said.

Gehlot said the Congress has made a huge contribution in the nation's development.

"The Congress can never die in this country. Today, the country needs Congress and even with such less numbers the Congress played the role of the opposition in a befitting manner. In the last five years, the Congress despite having (just) 44 MPs did not let the country know that it is weak," he said, lauding Rahul Gandhi's leadership.

"The way he cornered Modi and the BJP on various issues such as unkept promises, jobs, development and farm crisis...but no reply came (from the government and the entire country saw this. The Congress has a future in the country and the new generation which has been misled by the BJP will realise which kind of ideology and policies are required to take the country forward," he said.

The BJP won 303 of the 542 parliamentary seats. The Congress bagged just 52, two less than it needs for a Leader of Opposition post in the lower house and marginally more than the 44 it got in the last general elections.

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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News Network
May 15,2020

Thiruvananthapuram: Kerala activist Rehana Fathima has been asked to take compulsory retirement from BSNL after she was embroiled in Sabarimala row.

Stating that her attempt to enter the shrine of celibate god in 2018 had spoiled the reputation of the company among customers, the BSNL, in its order asked her to take compulsory retirement, further claiming that her acts were “subversive of discipline and amount to misconduct”.

She was suspended from service following her arrest in November 2018 over Facebook posts.

Fathima, who is a technician with the state-run communications company, said she will explore legal remedies against the order sent by her employer.

The Fathima hit headlines when she attempted to enter the Sabarimala shrine, which has traditionally been closed to women in the age group of 10-50 years.

She did after the Supreme Court order allowing entry of women in the age group of 10-50.

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News Network
May 28,2020

New Delhi, May 28: BJP national spokesperson Sambit Patra has been admitted to a private hospital in Gurgaon after he showed symptoms of COVID-19, sources said.

He is admitted to the Medanta hospital in Gurgaon, hospital sources said on Thursday.

The BJP leader has shown symptoms of COVID-19, a source said.

Patra is one of the most visible BJP faces on news channels.

He is also very active on social media and posted several tweets on Thursday as well.

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