CPI-M announces all-India protest on Aug 7 against scrapping of Article 370

Agencies
August 6, 2019

New Delhi, Aug 6: The Communist Party of India-Marxist on Monday accused Prime Minister Narendra Modi led NDA government of striking "a big blow" at democracy and the Constitution by scrapping Article 370 of the Constitution and dismantling the state of Jammu and Kashmir and called for an all-India protest on August 7 against the decision. 

The party said in a statement that Kashmir had acceded to India in the face of invaders from Pakistan and a solemn commitment had been made to them by the Indian State to provide them with special status and autonomy, which was embodied in Article 370.

"The Modi government has betrayed the people of Jammu and Kashmir by going back on this commitment," the party said, adding that the unilateral step will only deepen the alienation.

"This is harmful to the unity and integrity of India," it said.

"The BJP-RSS rulers cannot tolerate any diversity and the federal principle. They are treating Jammu and Kashmir as occupied territory. Trampling on the Constitution, they are converting Jammu-Kashmir and Ladakh as two centrally-ruled Union Territories. This is the biggest attack on national unity and the concept of India as a Union of States," it said.

The CPI-M said strengthening of the bonds of people of Jammu and Kashmir with the rest of India should have been through the process of political dialogue with all stakeholders, as promised by the government three years ago.

"The CPI-M denounces these measures taken by the Modi government. They are illegal and unconstitutional. The CPI-M calls upon all democratic-minded people to join the all-India protest day called by the Left parties on August 7," the party said.

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Agencies
June 2,2020

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

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News Network
May 8,2020

New Delhi, May 8: India's count of COVID-19 cases on Friday rose to 56,342 including 1,886 deaths, according to the Ministry of Health and Family Welfare.

Currently, there are 37,916 active cases while 16,539 COVID-19 positive patients have been cured/discharged and one has migrated.

Maharashtra has the highest number of cases with 18,120 followed by Gujarat with 7,013 cases and Delhi with 5,980 cases.

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News Network
April 19,2020

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.

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