Economy slowdown: Itna sannata kyun hai bhai? asks Sena

News Network
October 28, 2019

Oct 28: The Shiv Sena on Monday borrowed an iconic dialogue from Hindi blockbuster movie 'Sholay' to target the Centre over the economic slowdown, seeking to know why there was so much "silence" in markets on the occasion of Diwali and wondered if worse days were ahead.

"...Itna sannata kyun hai bhai?" (why is there so much silence) is the question resonating everywhere on "silence" over the future of the country and Maharashtra, the Sena said in an editorial in party mouthpiece 'Saamana'.

In the film 'Sholay', the dialogue was mouthed by veteran actor late A K Hangal in an emotional scene where silent villagers look on while a horse carries the body of his son killed by dacoit Gabbar Singh, portrayed by Amjad Khan.

The Sena used the famous dialogue to raise questions over what it termed as the "gloomy" picture of the economy, and blamed the government's decisions of demonetisation and "faulty implementation" of the Goods and Services Tax (GST) for the present situation in the country.

"Markets have lost shine as sales figures have dropped by 30 to 40 per cent due to the looming fear of slowdown. Industries are suffering while some manufacturing units have closed down, leading to joblessness," it said.

Several banks are facing financial crisis and people have no money to spend, the Marathi publication said.

"On the other hand, the government is also forced to draw funds from the RBI's reserves. There is silence in markets on Diwali, but foreign companies, through online shopping platforms, have been filling up their coffers with the country's money," it rued.

Farmers were the worst hit as their crops, which were ready to be harvested, were damaged due to the untimely rains recently, the editorial pointed out.

"Unfortunately, nobody talks about how to bring farmers out of this," said the Sena, which is an ally of the BJP at the Centre and in Maharashtra.

There was less clamour and "more silence" during the state Assembly polls held on the eve of Diwali, it claimed.

As the BJP's tally went down in the state polls held last week compared to its 2014 performance, Sena chief Uddhav Thackeray raised a pitch for "equal sharing" of power.

Last week, he demanded a written assurance from the BJP for implementing "equal formula for sharing of power", before holding talks on staking the claim to form the next alliance government in the state.

In the recent polls to 288-member Assembly, the BJP won 105 seats, a loss of 17 seats compared to its 2014 tally.

The Sena's tally also came down to 56 seats from 63 in 2014.

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Well Wishers
 - 
Monday, 28 Oct 2019

Sannaata isliye. because of present day Gabbar Singh & Kaalia

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News Network
July 23,2020

New Delhi, Jul 23: Riding high on foreign investors buying stakes in Jio Platforms, Reliance Industries Ltd Chairman Mukesh Ambani became the world’s fifth-richest person Wednesday, edging past American investor Warren Buffett on the real-time ranking of billionaires by Forbes. With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion.

Buffet had slipped down the rankings after donating more than $37 billion of Berkshire Hathaway Inc. stock since 2006 to charity. Berkshire Hathaway’s stock performance has also underwhelmed recently.

Amazon founder and CEO Jeff Bezos still sits at top in the richest list, with a net worth of $185.8 billion. He is followed by Microsoft co-founder Bill Gates with net worth of $113.1 billion and luxury group LVMH Moet Hennessy Louis Vuitton’s chief Bernard Arnault, with a net worth of $112 billion. Facebook CEO Mark Zuckerberg is at the fourth position in the Forbes list.

Shares of Ambani’s conglomerate have more than doubled since a low in March as its digital unit got more than $15 billion in investments from companies including Facebook Inc, Silver Lake, Intel, and most recently, Google. The US tech giant has committed a capital infusion of Rs 33,737 crore for a 7.7 per cent stake on Jio Platforms.

The total investment from financial and strategic investors into Jio Platforms stands at Rs 1,52,056 crore. RIL has raised a total of Rs 2,12,809 crore through a rights issue, the combined investments in Jio Platforms and investment by BP.

During the Reliance AGM last week, Ambani had said RIL has made its net-debt free ahead of a March 2021 target due to recent investments. Ambani said Jio has designed and developed a complete 5G solution that’s ready for launch as soon as spectrum is made available next year.

Jio and Google have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store, Ambani said.

RILs market value jumped to Rs 12.7 lakh crore or $170 billion on Monday, making it the 51st most valued company in the world. Between April 1 and July 13, RIL has gained $81 billion in market capitalisation and has climbed 47 places from being the 98th most valued company on April 1 to 51st most value company now.

The share price of RIL has risen by 120 per cent over the last four months for Rs 883 per share on March 23, 2020 to Rs 1,939 on Monday. Since April 22, when Facebook Inc announced an investment of Rs 43,574 crore in Jio Platforms for 9.99 per cent equity stake, Jio Platforms has announced investments by 12 other investors. The total investment by these 13 investors over the last 12-weeks amounted to Rs 118,318 crore.

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News Network
January 10,2020

New Delhi, Jan 10: An IPS officer's thumb was bitten by a woman protester when he was pushing back agitators, who were trying to march towards the Rashtrapati Bhawan here on Thursday, police sources said.

The protesters had gathered after a call was given by JNU Students' Union president Aishe Ghosh to march towards President's House to demand the removal of University's Vice Chancellor, M Jagadesh Kumar.

Ingit Pratap Singh, a 2011 batch officer, who is currently posted as the additional deputy commissioner of the southwest district, was injured in the attack.

According to sources, Singh was trying to pull a male protester when the woman, in a bid to shield her friend, bit Singh's left thumb.

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Agencies
May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

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JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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