Congress pins hope on AAP to check BJP in cities

January 6, 2014

Congress_pinsNew Delhi, Jan 6: With Aam Aadmi Party deciding to go national, Congress is staring at the usurpation of its "aam aadmi" slogan but with a fervent hope that the newbie can stop the BJP in cities as it did in the recent Delhi elections.

There was a sense of inevitability in the growing visibility of AAP following its victory in Delhi and its national ambitions but its decision to contest a big chunk of Lok Sabha seats is set to add uncertainty to the settled battlelines in these constituencies.

The rising clamour over "aam aadmi" comes with the irony that it was Congress that coined the slogan "Congress ka haath, aam aadmi ke saath" which was also credited with its victories in 2004 and 2009. AAP's success in convincing the voters that it represents their mundane worries over corruption and services has taken the sheen away from Congress's claims.

Congress's failure in December state polls to win over the poor with UPA's 'welfare schemes' underlines that its task on 'aam aadmi' front may be difficult in future, set to be made tougher by AAP's campaigning on the same plank.

AAP threatens to dent Congress's core supportbase — the poor and dalits — as it did in Delhi, especially after the Delhi results have made it a talking point nationally. The ruling party is only assured on the Muslim front because of the presence of HIndutva strongman Narendra Modi as PM candidate of BJP, a belief based on party's voteshare in Delhi's minority-dominated seats.

But Congress seems to have a gameplan behind supporting AAP in forming the Delhi government despite suffering heavily at its hands.

A hope has taken root that AAP could be the second buffer against BJP. The failure of Narendra Modi-led saffron outfit in stopping a large chunk of voters from backing AAP has exposed the principal opposition's limitations.

The post-Delhi mood suggests that AAP has gained among the middle classes and the urban poor nationally.

Congress sees this situation to its advantage. It hopes that if Arvind Kejriwal's candidates can tap into the urban voters who otherwise are expected to drift to BJP, Congress can gain indirectly.

The ruling party is placed weakly in cities, evident from the prevailing anti-incumbency against the Centre as witnessed in the recent assembly results as well as from the fact that inflation and corruption are bigger issues in the urban centres.

This has put a serious question mark on Congress that swept the cities in 2009 - winning all seven seats in Delhi and six in Mumbai besides those in other states. The cities hold the key to BJP's bid to dent the Congress strength.

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News Network
April 16,2020

Kochi, Apr 16: As many as 268 British citizens stranded in Kerala due to the nationwide lockdown were airlifted by British Airways on Wednesday from Thiruvananthapuram and Cochin International Airports.

The flight took off from Thiruvananthapuram to London's Heathrow Airport with 110 passengers at 7.30 pm. Later, 158 more passengers boarded the flight from Cochin airport at 10.07 pm.
A medical team, including four doctors, screened the passengers at the Thiruvananthapuram airport before they boarded the flight.

Earlier this month, the first charter flight from India reached London's Stansted with 317 British nationals on board from Goa.

The British government had earlier announced the operation of 19 chartered flights to evacuate its nationals who are stranded in India amid travel restrictions owing to the coronavirus crisis.

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News Network
March 27,2020

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.

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News Network
January 18,2020

Mumbai, Jan 18: Maharashtra Tourism Minister Aaditya Thackeray on Friday said shops, restaurants, malls and pubs will remain open 24 hours on an experimental basis in a few areas of Mumbai from January 26.

The areas where these establishments will remain open all night are Fort and Kala Ghoda in south Mumbai and Bandra Kurla Complex in the west.

Thackeray had batted for all-night-open eateries and other establishments in the city during the earlier BJP-Shiv Sena regime too.

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