Corporate tax cuts a ‘panic reaction’ to tide over choppy Sensex: Congress 

Agencies
September 21, 2019

New Delhi, Sept 21: The Congress on Friday termed the corporate tax cut a "panic reaction" by the government and linked it to the 'Howdy Modi' event in Houston, with Rahul Gandhi saying he is amazed at what Narendra Modi can do for a "stock market bump" before the diaspora programme.

The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.

Congress' chief spokesperson Randeep Surjewala said the latest announcement by BJP government slashing corporate tax worth Rs 1,45,000 crore a year is another "panic reaction to tide over choppy Sensex index, but its implications and substantive issues need to be answered by the Prime Minister and the Finance Minister not through event management but sound economic management".

"This government's path is event management and economic mismanagement. Due to this path, clouds of economic slowdown are hovering over the country. The BJP government is now recognised by slowdown and lockdown," he said.

Questioning the timing of the corporate tax cut announcement, the opposition party alleged that it has been dictated by Modi's 'HowdyModi' event in the United States.

Terming 'HowdyModi' the "world's most expensive event ever", Rahul Gandhi said he is "amazed" at what Prime Minister Modi is ready to do for a stock market bump ahead of the US event.

"Amazing what PM is ready to do for a stock market bump during his Howdy Indian Economy jamboree. At + 1.4 Lakh Crore Rs. the Houston event is the world's most expensive event, ever! But, no event can hide the reality of the economic mess 'HowdyModi' has driven India into (sic)," Gandhi said on Twitter.

The Congress party said on its official Twitter handle, "The constant rollbacks and erratic decisions taken by this government may give the impression of progress through stock market bumps but will further decrease investor confidence and lead to worsening of the economic situation in the country."

Congress senior spokesperson Anand Sharma said Finance Minister's announcements is yet another "knee-jerk" reaction to arrest a "massive" economic slowdown.

"Decision-making cannot be swinging from one extreme, from surcharge to rollback and now slashing of Corporate Tax.

"The Finance Minister should know that this will neither induce private investments nor boost private demand or consumption. The way forward was upfront public investment. From monumental mismanagement of the economy, the government is desperate to deflect and manage headlines," Sharma said.

Congress leader Jairam Ramesh welcomed the reductions but expressed doubts on whether the step will revive investment. Asking if it was the prime minister's "trump card", he said the government's move does nothing to dispel the fear that pervades India Inc.

"A headline-itis afflicted, panic-stricken Modi Sarkar has cut corporate tax rates less than 3 months after a Budget and 4 months before the next one. This is welcome but it is doubtful whether investment will revive. This does nothing to dispel fear that pervades in India Inc," Ramesh said on Twitter.

"Timing of FM announcement dictated by #HowdyModi event. PM can now say, 'I have come to Texas promising lower Taxes'. Is this his 'trump card'?," he asked.

Surjewala alleged that Finance Minister Nirmala Sitharaman and her colleagues are marred by "bankruptcy of ideas" to revive the ailing economy.

"Economic mismanagement, herculean blunders and daily bloopers have cast a shadow upon the economic stability and direction of the country," he said at a press conference.

He also asserted that the worst sufferers of the economic recession are the salaried people, the middle class, the youth, small shopkeepers and small and medium businesses.

"While corporate tax has been slashed by 27% (i.e., 30% tax slab to 22% tax slab), why has a single penny of relief not been given to the honest taxpayers, who bear the actual brunt of the economic mess created by the BJP government?" he asked.

"The Modi government 2.0 has turned out to be an economic and political disaster for India. The looming economic crisis is fast turning into 'BJP-Made Economic Anarchy," he said.

Prime Minister Modi and Finance Minister Sitharaman must understand that stimuli does not help beyond a certain level, Surjewala said.

"What the economy requires is sound leadership, mature thinking, financial prudence, fiscal discipline and honesty of purpose. The BJP government lacks all of these," he alleged.

"The Modi government 2.0 is - 'one step forward, three steps backward'. Prime Minister and Finance Minister are dealing with economy and livelihood in fits and starts like fledgling novices. Net result is falling GDP, failing exports, shutting down of industry and businesses and loss of millions of jobs," the Congress leader alleged.

"The experimental Prime Minister and the greenhorn Finance Minister" need to tell the nation as to where will the resources to compensate the revenue loss of Rs 1,45,000 crore come from," he asked.

The government on Friday slashed the corporate tax rates for companies.

Surjewala also raised the question as to how will a "run-away" deficit be checked and why were the Prime Minister and Finance Minister making a "mockery" of the entire budget exercise.

He said the budget proposals approved by Parliament have either been rejected or amended or rolled back.

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News Network
January 13,2020

Jan 13: For the first time in years, the government of India’s Prime Minister Narendra Modi is playing defense. Protests have sprung up across the country against an amendment to India’s laws — which came into effect on Friday — that makes it easier for members of some religions to become citizens of India. The government claims this is simply an attempt to protect religious minorities in the Muslim-majority countries that border India; but protesters see it as the first step toward a formal repudiation of India’s constitutionally guaranteed secularism — and one that must be resisted.

Modi was re-elected prime minister last year with an enhanced majority; his hold over the country’s politics is absolute. The formal opposition is weak, discredited and disorganized. Yet, somehow, the anti-Citizenship Act protests have taken hold. No political party is behind them; they are generally arranged by student unions, neighborhood associations and the like.

Yet this aspect of their character is precisely what will worry Modi and his right-hand man, Home Minister Amit Shah. They know how to mock and delegitimize opposition parties with ruthless efficiency. Yet creating a narrative that paints large, flag-waving crowds as traitors is not quite that easy.

For that is how these protests look: large groups of young people, many carrying witty signs and the national flag. They meet and read the preamble to India’s Constitution, into which the promise of secularism was written in the 1970’s.

They carry photographs of the Constitution’s drafter, the Columbia University-trained economist and lawyer B. R. Ambedkar. These are not the mobs the government wanted. They hoped for angry Muslims rampaging through the streets of India’s cities, whom they could point to and say: “See? We must protect you from them.” But, in spite of sometimes brutal repression, the protests have largely been nonviolent.

One, in Shaheen Bagh in a Muslim-dominated sector of New Delhi, began simply as a set of local women in a square, armed with hot tea and blankets against the chill Delhi winter. It has now become the focal point of a very different sort of resistance than what the government expected. Nothing could cure the delusions of India’s Hindu middle class, trained to see India’s Muslims as dangerous threats, as effectively as a group of otherwise clearly apolitical women sipping sweet tea and sharing their fears and food with anyone who will listen.

Modi was re-elected less than a year ago; what could have changed in India since then? Not much, I suspect, in most places that voted for him and his party — particularly the vast rural hinterland of northern India. But urban India was also possibly never quite as content as electoral results suggested. India’s growth dipped below 5% in recent quarters; demand has crashed, and uncertainty about the future is widespread. Worse, the government’s response to the protests was clearly ill-judged. University campuses were attacked, in one case by the police and later by masked men almost certainly connected to the ruling party.

Protesters were harassed and detained with little cause. The courts seemed uninterested. And, slowly, anger began to grow on social media — not just on Twitter, but also on Instagram, previously the preserve of pretty bowls of salad. Instagram is the one social medium over which Modi’s party does not have a stranglehold; and it is where these protests, with their photogenic signs and flags, have found a natural home. As a result, people across urban India who would never previously have gone to a demonstration or a political rally have been slowly politicized.

India is, in fact, becoming more like a normal democracy. “Normal,” that is, for the 2020’s. Liberal democracies across the world are politically divided, often between more liberal urban centers and coasts, and angrier, “left-behind” hinterlands. Modi’s political secret was that he was that rare populist who could unite both the hopeful cities and the resentful countryside. Yet this once magic formula seems to have become ineffective. Five of India’s six largest cities are not ruled by Modi’s Bharatiya Janata Party in any case — the financial hub of Mumbai changed hands recently. The BJP has set its sights on winning state elections in Delhi in a few weeks. Which way the capital’s voters will go is uncertain. But that itself is revealing — last year, Modi swept all seven parliamentary seats in Delhi.

In the end, the Citizenship Amendment Act is now law, the BJP might manage to win Delhi, and the protests might die down as the days get unmanageably hot and state repression increases. But urban India has put Modi on notice. His days of being India’s unifier are over: From now on, like all the other populists, he will have to keep one eye on the streets of his country’s cities.

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News Network
May 11,2020

Kolkata, May 11: Murshidabad district, one of the biggest contributors to the army of migrant workers from West Bengal, received news of unnatural deaths of three of these people since Saturday. While two died in Kerala, one was found dead in a rented house in Odisha.

Residents of Baliaghati village in Murshidabad’s Suti police station area said Safikul Sheikh (31) was killed in a road accident in Kerala. Sheikh’s associates called up his family on Sunday morning and said he had gone to a local market, violating lockdown orders, when the accident took place. Sheikh wanted to return home before Eid but got stranded.

Mohammad Hafijul, one of Sheikh’s relatives, said, “A few days ago a special train from Kerala carried migrant workers to Murshidabad but Safikul did not have the money to buy a ticket. We do not know how his body will be brought back.”

In another incident, a 24-year-old resident of Domkal allegedly hanged himself in Kerala on Saturday. He used to work in a brick kiln. His mother said, “My son was depressed as he could not buy a ticket to board the special train that came to Murshidabad. We have appealed to the local administration to bring back his body.”

In the third incident, Bakul Sheikh (24) died under mysterious circumstances at Sonepur in Odisha where he went five months ago to work as a mason. Sheikh hails from Kohetpur village in Shamserganj. His relatives told the local police that his associates called up and said he was found dead inside the toilet of the house where he was living with other migrant workers.

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Bloomberg
July 27,2020

New Delhi, Jul 27: India’s coronavirus epidemic is now growing at the fastest in the world, increasing 20% over the last week to more than 14 lakh confirmed cases, according to Bloomberg’s Coronavirus Tracker.

Infections in the South Asian nation of 130 crore people have reached 14.3 lakh, including 32,771 deaths, India’s health ministry said, with daily cases close to a record 50,000 on Monday. India is only trailing the US and Brazil now in the number of confirmed infections, but its growth in new cases is the fastest.

Maharashtra, Tamil Nadu, Andhra Pradesh and Karnataka are among the states where the maximum number of daily cares are being reported. The world’s second-most populous country has been ramping up testing, with 515,472 samples taken on Sunday, according to the Indian Council of Medical Research.

Still, India and Brazil have some of the world’s lowest testing rates, with 11.8 tests and 11.93 tests per 1,000 people respectively, compared to the US with 152.98 tests per 1,000 and Russia with 184.34, according to Our World in Data, a project based at the University of Oxford in the UK.

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