Don't mess with govt image: Modi's message to Smriti Irani

July 6, 2016

New Delhi, Jul 6: In the high decibel din of the Cabinet expansion and reshuffle of portfolios in the Narendra Modi government, the media seems to have forgotten about a certain BJP maverick MP – Subramanian Swamy – who until recently was its obsession. Where is he now in this celebration?

modisairathSwamy neither figures in the list of new inductees, nor does he seem to be throwing tantrums over his exclusion. Evidently, Swamy's antics of attacking the likes of RBI governor Raghuram Rajan, economic advisor Arvind Subramanian and other officials of the Finance Ministry turned out to be a misadventure. His snide remarks against Finance Minister Arun Jaitley was the final nail in the coffin of his aspirations to be a Union minister.

In his attempt to rejig the Cabinet, Prime Minister Narendra Modi has shown a distinct distaste for those with a penchant for courting controversy. Swamy's exclusion and Smriti Irani's removal from the human resource development (HRD) Ministry are indicative of a pattern.

Though unlike Swamy, Irani never crossed the Rubicon line of party discipline. Yet she found herself in the midst of many controversies related to her haughtiness with bureaucrats and academics – with Dalit scholar Rohith Vemula's suicide in Hyderabad and the JNU row marking crucial blows in her two-year tenure as HRD minister.

Though senior BJP leaders, including Modi, are quite impressed by Irani's political pugnacity, she seems to have lost out on moderation. In a recent conference of vice-chancellors of central universities, she ticked off seasoned academics in a very unpleasant manner.

Apparently the minister's conduct could not endear her to the bureaucracy and academics. On some occasions, she was seen courting controversies that may suit the image of a street-fighter, but not of a Union minister.

Contrast this with Prakash Javadekar, an unassuming leader from Maharashtra, who is the only one elevated in this Cabinet expansion – he is now the HRD minister, after relieving his post as the Environment Minister. All this, with Javadekar maintaining a low-profile while facilitating the industry to negotiate with environmental concerns.

Insiders say that Javadekar very deftly handled his assignment of aligning the regulatory regime of the environment Ministry with developmental concerns. He was rewarded with the HRD portfolio for efficiently implementing the government's agenda and for his pro-active role in the climate change talks in Paris. Given Javadekar's own training as Swayamsevak, his new assignment would only get wide approval within the Sangh Parivar.

If the reshuffle is any indication, then it is clear that the prime minister did not hesitate to clip the wings of those found falling short of his expectations. For instance, the communication portfolio was taken away from a voluble Ravi Shankar Prasad and given to Minister of State for Railway Manoj Sinha, as additional responsibility.

Sinha, an engineering graduate from Banaras Hindu University, won unqualified admiration for his efficiency, while maintaining a low-profile. Prasad was, however, given back the charge of the Law Ministry in view of his background as a lawyer – he replaced DV Sadananda Gowda, who had taken over the law ministry from Prasad back in 2014.

Modi has also plugged gaps in certain portfolios by appointing MJ Akbar in the Foreign Ministry and by deploying Ananth Kumar as Parliamentary Affairs Minister, along with SS Ahluwalia, to mobilise support from non-congress parties for the smooth conduct of Parliament.

The underlying theme of the Cabinet reshuffle is quite Biblical – 'meek shall inherit the earth'. This is the precise reason why Swami is left sulking. Similarly, a powerful leader like Yogi Adityanath in eastern UP was ignored, though the Cabinet expansion saw the accommodation of several leaders with influence at the local level. Modi also did not hesitate to axe Ram Shankar Katheria – as the junior HRD minister – as his controversial utterances had caused much consternation.

Taken together, the whole exercise conveyed that those inducted within the government would not be allowed to mess around with its image, either by their conduct or by their utterances.

The implied message was clear – that those having self-inflated notions about themselves can enjoy all the freedom of speech and expression, but while sitting outside the government.

Comments

Satyameva jayate
 - 
Thursday, 7 Jul 2016

This shows how modijis govt failed for the last two years with useless ministers.........they gave positions to the modijis schela' s and now suffering......let's see after two years what will be the change....may be this party will change the PM candidate itself......

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Agencies
February 6,2020

Wuhan, Feb 6: Chinese multinational conglomerate holding company Tencent has allegedly published "real" data on the novel coronavirus deaths, with briefly listing death toll as 24,589 -- way too higher than over 500 deaths China has officially announced to date.

According to Taiwan News, "Tencent... seems to have inadvertently released what is potentially the actual number of infections and deaths, which were astronomically higher than official figures".

Tencent, on its webpage titled "Epidemic Situation Tracker," showed confirmed cases of novel coronavirus (2019-nCoV) in China as standing at 154,023 - over 10 times the official figure given to the world on February 1.

Data leaked: Tencent lists 25,000 deaths in China, 1.54 lakh infections from coronavirus
It listed the number of suspected cases as 79,808, four times the official figure.

"The number of cured cases was only 269, well below the official number that day of 300. Most ominously, the death toll listed was 24,589, vastly higher than the 300 officially listed that day".

Once people noticed this, Tencent immediately updated the numbers to reflect the government's "official" numbers.

"Netizens noticed that Tencent has on at least three occasions posted extremely high numbers, only to quickly lower them to government-approved statistics," said the report.

Some people speculated a coding problem may be behind the real "internal" data but others believe that someone is actually trying to reveal the real numbers.

Tencent was yet to officially comment on these reports.

"According to multiple sources in Wuhan, many coronavirus patients are unable to receive treatment and die outside of hospitals."

There have been multiple reports of Wuhan officials cremating deceased coronavirus victims before they could be added to the official death toll.

The Wall Street Journal reported that the coronavirus numbers coming out of China are "fishy".

If the numbers from the alleged Tencent leak are accurate, it would put coronavirus' mortality rate at almost 16 per cent. By comparison, SARS' mortality rate was 9.6 per cent, reports CCN.

Caijing, an independent magazine based in Beijing that covers societal, political, and economic issues, has also claimed that the Communist Party of China (CCP) is underreporting the extent of the coronavirus outbreak.

Caijing's article on Coronavirus that detailed how Wuhan officials are not reporting real figures was censored in China.

As of Thursday, the official death toll in China rose to 563, with 28,018 confirmed cases.

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News Network
July 7,2020

Tumakuru, Jul 7: Coronavirus is spreading at the community level in Karnataka, said minister, JC Madhuswamy on Monday.

"Medical condition of eight infected with coronavirus admitted in Tumkur COVID Hospital is critical. There is no guarantee of their lives as per the information. We somewhere feel we are worried that coronavirus is spreading at the community level," Madhuswamy, Tumakuru district-in-charge minister, told reporters here.

"We have reached a point where it is difficult for the district authorities to restrain it, even though we are trying to restrain it. Somewhere the situation is going out of hand," he said.

The minister confirmed that the cumulative toll in the district due to COVID-19 rises to 9.

Earlier, Chief Minister BS Yediyurappa, Deputy CM Ashwath Narayan, Medical Education Minister Dr Sudhakar have denied of community transmission of coronavirus in Karnataka.

According to the Ministry of Health and Family Welfare, there are 23,474 coronavirus cases in Karnataka including 13,255 and 372 deaths.

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News Network
February 19,2020

Feb 19: Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.

He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. His website shows him hobnobbing with politicians, Bill Gates and Bollywood royalty.

“The thrill of speed and freedom makes me love cars,” Shetty, 77, told local reporters last year.

Shetty had more than enough money -- at least on paper -- to afford such a lifestyle from companies he helped found, including hospital operator NMC Health Plc and financial services firm Finablr Plc. On Dec. 10, his stakes in the public companies were valued at $2.4 billion, making up the bulk of a fortune spanning education, hospitality and one of the world’s oldest tea companies.

Then, a week later, Carson Block came along.

Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. His holdings in Finablr and NMC are worth $885 million, but Shetty’s fortune may now be just a fraction of that, depending on the size of his borrowings.

Filings this month show that Shetty pledged a quarter of his NMC stake against loans with First Abu Dhabi Bank and Zurich-based Falcon Private Bank. Two other shareholders may own half of his reported stake. Another lender -- Al Salam Bank Bahrain -- has already sold some of those shares to enforce security over a loan for Shetty, and NMC said Tuesday that First Abu Dhabi Bank sold another chunk earlier this month.

The situation “seems to have gone beyond some of the issues that Muddy Waters focused on initially,“ said Gavin Launder, a fund manager at Legal & General Investment Management, who owned shares in NMC until October. “The increased scrutiny has unearthed other issues.”

Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said, declining to comment further until the analysis is completed. Shetty resigned Sunday as NMC’s chairman.

In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged 67%, and the firm is now the focus of takeover speculation. The sell-off also spread to Finablr, whose stock has tumbled 64% in that span.

NMC has disputed Muddy Waters’s claims, and the company hired former FBI Director Louis Freeh to conduct an independent review of the short seller’s allegations. Meanwhile, local regulators “are making inquiries with the relevant parties,” a spokesperson for the U.K.’s Financial Conduct Authority said.

Shetty is hardly the only ultra-wealthy person to leverage his assets. Elon Musk has used his shares in Tesla Inc. to obtain personal loans, while Oracle Corp. Chairman Larry Ellison has put up millions of the company’s shares to fund a lavish lifestyle that includes trophy properties, America’s Cup teams and the Indian Wells tennis facility in California.

But such deals can also sour, as demonstrated by Shetty’s lenders selling shares his investment firm pledged. He and his advisers are investigating details of the sales as part of their legal review, according to filings.

To complicate matters, Shetty pledged another batch of NMC stock in 2018 as part of a so-called equity collar arrangement with Goldman Sachs Group Inc. that uses options to limit the impact from share moves. Last month, he also pledged most of his stake in Finablr to refinance a loan from the company’s takeover of foreign-exchange firm Travelex for about $1.2 billion.

BRS Ventures Investment, the UAE-based holding company for most of Shetty’s assets, doesn’t report consolidated financials, preventing a complete analysis of his net worth. His other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

Block, 43, earned his reputation as a short seller a decade ago through targeting U.S.-listed Chinese companies that he claimed were frauds. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd. and Japanese biotech stock PeptiDream Inc. Short sellers seek to benefit from a decline in a company’s share price.

Shetty founded NMC in 1975 after moving to Abu Dhabi from his native India. He created Finablr two years ago to consolidate his financial brands before listing it on the London Stock Exchange in 2019.

Block said he didn’t anticipate NMC’s shareholding drama.

“I wouldn’t have been able to predict that we’d get these bizarre disclosures about unclear share ownership coming out of the company,” he said in a Feb. 13 phone interview. “This has been obviously a more dramatic unraveling than we usually see.”

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