Efforts being made to paint me with 'saffron', says Rajinikanth

Agencies
November 8, 2019

Chennai, Nov 8: Superstar Rajinikanth on Friday said the BJP has not invited him to join the party, but insisted efforts were being made to paint him with "saffron", the ideological colour the national party is associated with.

He accused a section of media and "some persons" with making such attempts.

The BJP said it has never claimed the actor was willing to join the party, while the DMK said it was not aware whom the actor was signalling to with his statement on being painted with saffron hues.

On Thursday, Rajinikanth met reporters twice within a span of few hours to talk on issues including his being "painted" with saffron.

Attempts were being made to paint both himself and Thiruvalluvar with saffron, the veteran star said referring to the recent controversy surrounding the Tamil saint-poet.

When asked about senior BJP leader Pon Radhakrishnan's recent meeting with him and the former's repeated assertions that the actor should join the party, Rajinikanth said no such invitation has been made to him.

"No offer has been made (from BJP to join the party)..
definitely not," he said. "Attempts are being made to paint me with BJP colour..

trying to paint me with saffron like Thiruvalluvar was done with.. Neither Thiruvalluvar nor me will get trapped," he said with a big laugh.

Later, when reporters raised the matter with him for a second time, Rajinikanth said "some people, some media--they are trying to colour me as a BJP man."

"But definitely it is not true," he said. Asked if it was the media or BJP that painted him in saffron colour, he said "some persons."

While any party could be happy if he joins it, only he should take a call on the matter, the actor said, adding "but it is wrong to say they are dependent on me."

On November 1, the BJP's Tamil Nadu unit had on its Twitter handle written a couplet from Thiruvalluvar's classic "Thirukkural," questioning the use of education if the Almighty was not worshipped.

Tagging the couplet, the saffron party targeted the Dravidar Kazhagam, DMK and the Left parties for allegedly deriding God and for berating believers and questioned "what is the use of their education."

Also, the party had posted a picture of Thiruvalluvar in saffron robes with sacred ash on his forehead, with the issue leading to a spat between the BJP and the DMK and other opposition parties.

When asked about this episode, Rajinkanth said while many public issues warranted media attention, there was focus on such matters which was "silly".

He said the state BJP had only put up a picture of Thiruvalluvar with saffron robes in its official Twitter handle and that it did not want this to be done all over.

"You (media) had blown up the matter.. there are so many people's issues to be discussed, but you made this big," he said, adding, "it is silly."

Further, Thiruvalluvar was a sage beyond boundaries of religion and caste, he said.

However, the saint-poet was a "believer" and not a "non-believer," which was evident from his Thirukkural couplets, he said.

Responding to Rajinikanth's statement, the BJP said it was its democratic right to meet somebody.

If anybody is interested they were "allowed and invited to join," BJP National General Secretary P Muralidhar Rao said, adding a number of celebrities and eminent persons all over the country including from Tamil Nadu were joining its ranks.

"Now it is very clear that there should not be any misconception. Anywhere in that state, we had never told Rajinikanth--film star, artiste, eminent person who has contributed to the entertainment industry of the entire country--never we told he had joined BJP. Never we told he is willing to join BJP," he told reporters here.

BJP was not interested in such "speculations," he added.

DMK Treasurer Durai Murugan, in his response to the superstar's remarks that attempts were being made to portray him as a BJP man, said it was Rajinikanth's opinion.

However, Durai Murugan said he was not aware whom Rajinikanth was sending a message to in this regard.

Meanwhile, responding to a question the slowing economic growth, Rajinikanth said the government should do whatever it takes to address it.

Asked about his stand on the Centre's demonetisation excercise in 2016, he said he had made his stand known about it "long back."

Last year, he had said the implementation of demonetisation by the Centre was flawed.

On the Ramjanma Bhoomi issue, on which the Supreme Court is likely to give its order any time, he appealed to the people to maintain peace irrespective of the ruling.

To a question, he said there was still a "vacuum" for a powerful leadership in the state, reiterating his remarks made last year in the wake of the death of chief minister J Jayalalithaa in 2016 and the illness of then DMK President M Karunanidhi, who died in August 2018.

However, DMK shot back at Rajinikanth's statement, saying its party leader MK Stalin has already filled up that vacuum.

"Stalin has filled up that vacuum a long time back," Durai Murugan said.

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News Network
February 27,2020

New Delhi, Feb 27: Congress leader Priyanka Gandhi Vadra on Thursday attacked the government over the transfer of Delhi High Court Judge S Muralidhar, saying the Centre's attempts to "muzzle" justice and "break people's faith in an upright judiciary are deplorable".

Delhi HC Judge S Muralidhar was transferred to the Punjab and Haryana High Court, days after the Supreme Court collegium made the recommendation.

"The midnight transfer of Justice Muralidhar isn't shocking given the current dispensation, but it is certainly sad & shameful," Priyanka Gandhi tweeted. "Millions of Indians have faith in a resilient & upright judiciary, the government’s attempts to muzzle justice & break their faith are deplorable," she said.

The judge was hearing the Delhi violence case and the late evening notification came on the day when a bench headed by him expressed "anguish" over the Delhi Police's failure to register FIRs against alleged hate speeches by three BJP leaders.

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Agencies
February 10,2020

New Delhi, Feb 10: The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100% stake with management control and has invited the Expression of Interest for the same by March 16.

The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.

"The government of India has 'in-principle' decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction)," DIPAM, the Disinvestment Department, said.

The process for the transaction has been divided into two stages, namely, Stage I and Stage II.

After BPCL and Air India, this is yet another CPSE which government is slated to privatise if it gets offers from bidders.

The government has set a challenging target of Rs 2.1 lakh crore disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for sale) in the next fiscal and it going out all guns blazing to meet that target after revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore.

The Interested Bidders (which can also include employees of CEL) must have a minimum net worth of Rs 50 crore as on March 2019. DIPAM has released complete invitation Preliminary Information Memorandum (PIM) of CEL. Resurgent India Limited is the advisor to the Transaction.

CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.

More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.

Its solar products have been qualified to International Standards IEC 61215/61730. CEL is further working on development of a range of new and upgraded products for signaling and telecommunication in the railway sector.

In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".

The CPSE has adequate land for expansion, the SWOT analysis said adding "the CPSE faces threat of dumping of solar cells at very low rates which makes solar PV manufacturing industry unviable".

Entry of new players in the market for solar products and railway signalling systems also is cited as a threat.

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News Network
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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