Demonetisation had no effect on Indian economy: Nirmala Sitharaman

Agencies
July 2, 2019

New Delhi, Jul 2: Finance Minister Nirmala Sitharaman said economic growth is high on the agenda of the government and various reforms are being undertaken in many spheres to improve GDP growth.

India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2.

The Minister, while responding to supplementaries during the Question Hour, said the manufacturing sector has had a certain fall, but it is not attributable to demonetisation.

She said economic growth is high on the agenda of the government and various reforms are being undertaken in many spheres to improve GDP growth.

Ms. Sitharaman said “the moderation in growth momentum in 2018-19 is primarily on account of lower growth in ‘Agriculture and allied’, ‘trade, hotel, transport, storage, communication and services related to broadcasting’ and ‘public administration and defence’ sectors.”

“If the impact of low growth in certain sectors has impacted growth rate, particularly in agriculture and allied activities as also in financial and real estate and professional services, there has been a fall, particularly in agriculture based on third advance estimates, it is believed that there has been a 0.6% decline in the output.

“If the impact on the low growth is because of outcomes from these sectors, the manufacturing sector has had a certain fall but which is not attributable to demonetisation,” the Minister said.

‘India growing at the fastest rate’

She said in the last quarter, there could have been a fall and steps have been taken to improve the economy.

“But, we are still the fastest growing economy,” she said.

Ms. Sitharaman said if the United States’ growth has grown between 1.6, 2.2, 2.9 and 2.3% in 2016, 2017, 2018 and 2019 respectively, and China’s growth has also decelerated from 6.7, 6.8, 6.6 and 6.3%, India is still well above 7% at 7.3% growth.

“While the concern of member is well taken about the last quarter’s growth having come down, it is still India which is growing at the fastest rate and the figures are before us,” she stressed in response to a query from a member.

The Minister said as regards steps taken, the government has taken several steps in order that more money goes to people and that is why the PM’s Kisan Samman Yojna, the Pension Yojna, where money goes directly through Direct Benefit Transfer (DBT) into the people’s hands, are activities through which people are getting the benefit.

“Over and above that, in order that institutions will have to extend more credit facilities for industry and for those entrepreneurs in the ground, the credit situation and also taking care of resolutional stressed assets through banks is also happening,” she said.

In her written reply, the Finance Minister said, as per estimates available from Central Statistics Office, growth of Gross Domestic Product (GDP) at constant prices was 6.8% in 2018-19, as compared to 7.2% in 2017-18 and 8.2% in 2016-17.

“Economic growth is high on the agenda of the government. Various reforms are being undertaken by the Government in many spheres to improve GDP growth. The key reforms in Governments new term include expansion to all farmers the cash transfer scheme ‘PM-Kisan’ providing an income support of ₹6,000 per year, which was earlier limited to farmers with a land holding of less than 2 hectares,” she said.

Along with this, the government has launched voluntary pension scheme for small and marginal farmers and small shopkeepers or retail traders, she claimed.

To give focused attention to issues of growth, Government has constituted a five-member Cabinet committee on investment and growth chaired by Prime Minister.

Comments

Sandesh Shetty
 - 
Wednesday, 3 Jul 2019

Those who put their money in Swiss bank wont feel any effect. Only poor, middle calss people suffered much. BJP, RSS people enjoyed that

Vinod
 - 
Wednesday, 3 Jul 2019

Another Feku's puppet. She is getting salary for spreading lies

Well Wisher
 - 
Wednesday, 3 Jul 2019

Dear Madam please. do not ever think the all Indians are stupid.

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Agencies
March 15,2020

New Delhi, Mar 15: The number of novel coronavirus cases in the country rose to 107 on Sunday, with 12 fresh cases in Maharashtra, the Union Health Ministry said.

The number of cases include two persons who died in Delhi and Karnataka.

While a 76-year-old man from Kalaburagi who had recently returned from Saudi Arabia died on Thursday, a 68-year-old woman in Delhi who had tested positive for coronavirus passed away at the Ram Manohar Lohia (RML) Hospital on Friday night.

Delhi has reported seven positive cases and Uttar Pradesh 11 so far. Karnataka has six coronavirus patients while Maharashtra 31, Ladakh three and Jammu and Kashmir 2. Telangana reported three cases.

Besides, Rajasthan also reported two cases. Tamil Nadu, Andhra Pradesh and Punjab have reported one case each.

Kerala has recorded 22 cases, including three patients who were discharged last month after they recovered from the contagious infection with flu-like symptoms.

The total number of confirmed cases includes 17 foreigners -- 16 Italian tourists and a Canadian, the ministry officials said

Amid rising coronavirus cases in India, the government has asked people not to panic, saying no community transmission of the virus has been observed and there has only been a few cases of local transmission so far and that it is "not a health emergency" in India at present.

With the World Health Organisation (WHO) declaring COVID-19 a pandemic, a Health Ministry official said over 4,000 people who had come in contact with the 93 positive cases have been identified through contact tracing and were being tracked while 42,000 people across the country are under community surveillance.

He said all essential facilities like community surveillance, quarantine, isolation wards, adequate personal protective equipment (PPEs), trained manpower, rapid response teams are being strengthened further in all states and union territories.

The government on Wednesday suspended all visas, barring a few categories like diplomatic and employment, in an attempt to prevent the spread of coronavirus.

It has asked Indian nationals to avoid all non-essential travel abroad.

All incoming international passengers returning to India should self-monitor their health and follow the required do's and dont's as detailed by the government.

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Agencies
February 17,2020

New Delhi, Feb 17: The Supreme Court said on Monday that people have a fundamental right to protest against a law but the blocking of public roads is a matter of concern and there has to be a balancing factor.

Hearing pleas over the road blocks due to the ongoing protests at Shaheen Bagh against the Citizenship Amendment Act (CAA), a bench comprising Justices S K Kaul and K M Joseph said its concern is about what will happen if people start protesting on roads.

Democracy works on expressing views but there are lines and boundaries for it, the bench said.

It asked senior advocate Sanjay Hegde and advocate Sadhana Ramachandran to talk to Shaheen Bagh protestors and persuade them to move to an alternative site where no public place is blocked.

The matter has been posted for next hearing on February 24.

People have a fundamental right to protest but the thing which is troubling us is the blocking of public roads, the bench said.

Solicitor General Tushar Mehta said Shaheen Bagh protestors should not be given a message that every institution is on its knees trying to persuade them on this issue.

The apex court said that if nothing works, we will leave it to the authorities to deal with the situation.

Protestors have made their made their point and the protests have gone on for quite some time, it said.

Restrictions have been imposed on the Kalindi Kunj-Shaheen Bagh stretch and the Okhla underpass, which were closed on December 15 last year due to the protests against CAA and Register of Citizens.

The top court had earlier said the anti-CAA protesters at Delhi's Shaheen Bagh cannot block public roads and create inconvenience for others.

The apex court was hearing an appeal filed by advocate Amit Sahni, who had approached the Delhi high court seeking directions to the Delhi Police to ensure smooth traffic flow on the Kalindi Kunj-Shaheen Bagh stretch, which was blocked by anti-CAA protesters on December 15.

While dealing with Sahni's plea, the high court had asked local authorities to deal with the situation keeping in mind law and order.

Separately, former BJP MLA Nand Kishore Garg has filed a petition in the apex court seeking directions to the authorities to remove the protestors from Shaheen Bagh.

One of the pleas has sought laying down of comprehensive and exhaustive guidelines relating to outright restrictions for holding protests or agitations leading to obstruction of public place.

In his plea, Garg has said that law enforcement machinery was being "held hostage to the whims and fancies of the protesters" who have blocked vehicular and pedestrian movement from the road connecting Delhi to Noida.

State has the duty to protect fundamental rights of citizen who were continuously being harassed by the blockage of arterial road, it said.

"It is disappointing that the state machinery is muted and a silent spectator to hooliganism and vandalism of the protesters who are threatening the existential efficacy of the democracy and the rule of law and had already taken the law and order situation in their own hand," the plea had said.

In his appeal, Sahni had sought supervision of the situation in Shaheen Bagh, where several women are sitting on protest, by a retired Supreme Court judge or a sitting judge of the Delhi High Court.

Sahni has said in his plea that protests in Shaheen Bagh has inspired similar demonstrations in other cities and to allow it to continue would set a wrong precedent.

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News Network
January 19,2020

President Donald Trump gave a new justification for killing Qassim Suleimani, telling a gathering of Republican donors that the top Iranian general was "saying bad things about our country" before the strike, which led to his decision to authorise his killing. "How much are we going to listen to?" Trump said on Friday, according to remarks from a fundraiser obtained by CNN.

With his typical dramatic flourish, Trump recounted the scene as he monitored the strikes from the White House Situation Room when Suleimani was killed. The president spoke in a ballroom at his Mar-a-Lago club in Palm Beach, Florida, at a Republican event that raised $10 million for Trump's 2020 campaign.

The January 3 killing of Suleimani prompted Iran to retaliate with missile strikes against US forces in Iraq days later and almost triggered a broad war between the two countries. "They're together sir," Trump said military officials told him. "Sir, they have two minutes and 11 seconds. No emotion. Two minutes and 11 seconds to live, sir. They're in the car, they're in an armoured vehicle. Sir, they have approximately one minute to live, sir. Thirty seconds. Ten, 9, 8 ...'"

"Then all of a sudden, boom," he said. "They're gone, sir. Cutting off, I said, where is this guy?" Trump continued. "That was the last I heard from him". It was the most detailed account that Trump has given of the drone strike, which has drawn criticism from some US lawmakers because neither the president nor his advisers have provided public information to back up their statements that Suleimani presented an "imminent" threat to US.

Trump's comments came a day after he warned Iran's supreme leader Ayatollah Ali Khamenei to be "very careful with his words". According to Trump, Khamenei's speech on Friday, in which he attacked the "vicious" US and described UK, France and Germany as "America's lackeys", was a mistake.

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