Economy rejuvenated, trust in govt restored, claims Modi

May 26, 2015

New Delhi, May 26: Completing one year in office, Prime Minister Narendra Modi today enlisted the work done by his government, ranging from rejuvenating the economy to initiatives for the poor, and said this is just the beginning in the endeavour to transform the quality of life of people.

Economy rejuvenatedIn an open letter to the people, he said, "we have been able to restore trust in the government", ensure a "corruption-free" rule and made state governments equal partners in the quest for national development, building the spirit of Team India.

Modi said he had devoted every element of his "body and spirit" in fulfilling with fullest sincerity and honesty the responsibility and honour entrusted by people a year ago in him of serving them as "pradhan sevak" (prime worker).

"We assumed office at a time when confidence in India story was waning. Unabated corruption and indecisiveness had paralysed the government. People had been left helpless against ever-climbing inflation and economic insecurity.

"Urgent and decisive action was needed," Modi said.

While presenting the report-card of one year in office, he said his government systematically went about addressing these challenges.

Runaway prices were immediately brought under control.

The languishing economy was rejuvenated, building on stable and policy-driven proactive governance, the Prime Minister said.

He said discretionary allotment of the country's precious natural resources to a chosen few was replaced with transparent auction and firm steps were taken against black money, from setting up an SIT and passing a stringent black money law, to generating international consensus against the same.

Uncompromising adherence to the principle of purity, in action as well as intent, ensured a corruption-free government, he said.

Significant changes have been brought about in the work culture, nurturing a combination of empathy as well as professionalism, systems as well as breaking of silos, Modi said.

Modi said state governments have been made equal partners in the quest for national development, building the spirit of Team India.

Most importantly, "we have been able to restore trust in the government".

The Prime Minister also said that his government is dedicated to the poor, marginalised and those left behind as it is guided by the principle of Antyodaya .

"We are working towards empowering them to become our soldiers in the war against poverty," he said.

Modi said numerous measures and schemes have been initiated from making school toilets to setting up IITs, IIMs and AIIMS, from providing vaccination cover to children to initiating a people-driven Swacch Bharat mission, from ensuring a minimum pension to labourers to providing social security to the common man, from enhancing support to farmers hit by natural calamities to defending their interests at WTO.

He also mentioned other initiatives like empowering one and all with the rule on self-attestation to delivering subsidies directly to people's banks, from universalising the banking system to funding the unfunded small businesses, from irrigating fields to rejuvenating "Ma Ganga".

Modi listed efforts towards 24x7 power, connecting the nation through road and rail, building homes for the homeless, setting up smart cities, connecting the North East and prioritising development of eastern India.

"Friends, this is just the beginning.

"Our objective is to transform quality of life, infrastructure and services. Together we shall build the India of your dreams and that of our freedom fighters.

"In this, I seek your blessings and continued support," he concluded.

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News Network
May 30,2020

New Delhi, May 30: An Air India flight from Delhi to Moscow on Saturday had to return midway after the airline's ground team found out that one of the pilots had tested positive for novel coronavirus, officials said.

"When the A320 plane, which did not have any passengers as it was heading to Moscow to bring back stranded Indians under Vande Bharat Mission, had reached Uzbekistan's airspace, our team on ground realised that one of the pilots had tested COVID-positive," senior Air India officials said.

"The flight was immediately asked to return. It came back to Delhi at around 12.30 pm on Saturday," the officials said. The crew has been quarantined. Another plane would be sent to Moscow to bring back the stranded Indians, according to the officials.

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News Network
February 11,2020

New Delhi, Feb 11: AAP leader Sanjay Singh on Tuesday said his party will register a "massive win" in the high-stakes Delhi Assembly election, counting for which began amid tight security at various centres set up to carry out the exercise.

Initial trends suggested the ruling Aam Aadmi Party marching ahead, but the Bharatiya Janata Party leaders maintained that their party would win.

The counting began at 8 am and will be held in multiple rounds, Delhi Chief Electoral Officer Ranbir Singh said.

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News Network
January 14,2020

Chennai/New Delhi, Jan 14: India's annual electricity demand in 2019 grew at its slowest pace in six years with December marking a fifth straight month of decline, government data showed, amid a broader economic slowdown that led to a drop in sales of everything from cars to cookies and also to factories cutting jobs.

Electricity demand is seen as an important indicator of industrial output in the country and a sustained decline could mean a further slowdown in the economy.

India's power demand grew at 1.1% in 2019, data from the Central Electricity Authority showed, the slowest pace of growth since a 1% uptick seen in 2013. The power demand growth slowdown in 2013 was preceded by three strong years of consumption growth of 8% or more.

In December, the country's power demand fell 0.5% from the year-earlier period, representing the fifth straight month of decline, compared with a 4.3% fall in November.

But in India's western states of Maharashtra and Gujarat, two of India's most industrialised provinces, monthly demand increased.

In October, power demand had fallen 13.2% from a year earlier, its steepest monthly decline in more than 12 years, as a slowdown in Asia's third-largest economy deepened.

Industry accounts for more than two-fifths of India's annual electricity consumption, while homes account for nearly a fourth and agriculture more than a sixth.

The slower demand growth is a blow for many debt-laden power producers, who are facing financial stress and are owed over $11 billion by state-run distribution companies.

India's overall economic growth slowed to 4.5% in the July-September quarter, government data released in November showed, the weakest pace since 2013 as consumer demand and private investment fell.

The government has estimated growth in the current financial year that runs through to March will be the slowest since the 2008 global crisis.

"This reflects overall economic slowdown, because if you look at other high frequency data like diesel consumption, everywhere you are seeing contraction," Rupa Rege Nitsure, chief economist at L&T Financial Holdings.

But India's central bank will not have much scope to cut rates to stimulate the economy because inflation has been rising sharply and reached 7.35% in December compared with 1.97% in January last year.

Economists say India's growth will continue to hover around 4.5% levels in the Oct-Dec quarter.

"In the Oct-Dec quarter as well growth (GDP) will be around the same level as July-September. My estimate for the full year is around 4.7% growth," Nitsure said.

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