Emergency gave rise to new kind of politics: PM

October 11, 2015

New Delhi, Oct 11: Terming Emergency as the biggest blow to democracy, Prime Minister Narendra Modi today said its memories should be kept alive to further fortify the democratic structure as the struggle against it gave birth to a new generation of leaders and a new kind of politics in the country.

Narendra Modi 1 0 0 0 0 1

"Emergency was the biggest blow to democracy. The kind of crisis that hit the country during that period had tempered the Indian democracy which came out stronger. I am grateful to those who struggled and fought against it. ...

"Emergency should be remembered not to cry or brood over what had happened then, but to strenghten our resolve to fortify and further strengthen the democratic values and framework in our country," Modi said at a programme 'Loktantra Prahari Abhinandan' to mark Loknayak Jayaprakash Narayan's 113th birth anniversary.

Paying glowing tributes to the Loknayak, he felicitated many of those who fought against Emergency and went to jail in 1975-76, including BJP veteran L K Advani and Akali Dal chief Parkash Singh Badal.

The Prime Minister earlier also visited the residences of former Prime Minister Atal Bihari Vajpayee and former NDA Convenor George Fernandes who had played a significant role in the fight for democracy in those days.

"The biggest message that came out of the anti-Emergency struggle was the inspiration to fight repression. So many people in politics today owe their initial days to those days of Emergency, JP Movement, Navnirman Movement ... they gave birth to a new kind of politics in the nation," the Prime Minister said.

Modi said "we do not want to remember Emergency to criticise someone, but to constantly be reminded of commitment towards democracy and freedom of press."
He said the Indian media may have its preferences, but it should never let people of forget the days of Emergency.

"Media should not let the country forget Emergency," he said, adding that the leadership born during Emergency was not one for TV screens. "It was a leadership committed to live and die for the nation."

Attacking then Prime Minister Indira Gandhi for imposing Emergency, Modi said something good emerges even from a bad and the struggle that ensued during that period helped strengthen democracy.

Noting that the struggle by Jayaprakash Narayan for democracy should be treated as a benchmark, he said his speeches reflected the "deep anguish" of the people who had suffered during Emergency. "Even though he was a soft-spoken man, his speeches were like the boiling lava."

Observing that democratic values are inherent among Indians, Modi said though the top political leadership was in jail when elections were announced by then Prime Minister Indira Gandhi, it was the people who sent home many bigwigs by exercising their franchise.

While there was one view at that time to boycott these elections, another view was to take part in them, he said.

"When elections were declared in 1977, the top leadership was in jail. No one knew what was happening outside. But see the strength of people and their respect for democracy. Elections were held in the shadow of fear, people did not attend public meetings due to fear. But voters sent home many bigwigs by employing the mighly tool of democracy," he said.

Modi said Indira Gandhi was more bothered about her image abroad than within the country, he said, adding that several opposition leaders went to foreign countries to spread the word against repression.

Paying glowing tributes to Jayaprakash Narayan, Modi said, "JP's message of total revolution should give us the strength to convert it into the form of total development while bringing about 'sabka saath, sabka vikas' and to further strengthen democracy."

He also lauded JP for being a person with an open mind who was not restricted to any one thought or ideology. "He lived for the truth and what he felt was right," he said.
Modi also recalled how he had worked closely with veteran leader L K Advani, whom he saw closely during the Emergency and highlighted the role played by Akali leaders who differed with the political views of those in power at the time.

He lauded Punjab Chief Minister Parkash Singh Badal as the 'Nelson Mandela of India', saying "he has spent so many years in prison and that too for political reasons."

"The programme to mark JP's birth anniversary was a great walk down the memory lane, with those who participated in anti-Emergency movement," he later tweeted.

Modi's comments on Jayaprakash Narayan came a day ahead of the first phase of polling in the Bihar assembly elections.

Besides Advani and Badal, among others felicitated at the function were four Governors -- Kalyan Singh, O P Kohli, Balram Dass Tandon and Valubhai Vala, former Deputy Speaker Kariya Munda, besides BJP leaders V K Malhotra, Jaywantiben Mehta and Subramanian Swamy,    NCP leader D P Tripathi, Kameshwar Paswan and Arif Baig.

Advani said the focus after independence was not just on freedom from colonialism but also on strengthening democratic framework, while Badal said JP was one who thought of integrating and developing villages. "JP was an institution, he was a light house and a role model," Badal said.

Describing JP as "an all-party man", Union Minister Venkaiah Naidu said that is why he could bring about such a change in the country.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 12,2020

Bengaluru, Mar 12: Imarti Devi, who recently resigned as Congress MLA from Madhya Pradesh, on Wednesday said that she was happy with Jyotiraditya Scindia's decision to join the BJP.

Imarti said: "All 22 MLAs are here (in Bengaluru) on their own. We're happy that Scindiaji has taken this decision. I'll always stay with him even if I had to jump in a well."

"When we were in the Congress, Kamal Nathji never heard us," she said.

Another rebel leader and former minister Mahendra Singh Sisodia said: "Betrayal is not done by Jyotiraditya Scindia. Instead, betrayal was done by the Congress and Kamal Nathji."

"Congress betrayed the people of Madhya Pradesh. We are with Jyotiraditya Scindia," he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 29,2020

Theni, Mar 29: A young man under home quarantine for coronavirus after return from Sri Lanka suddenly ran out of his house and fatally bit a 80-year old woman in his neighbourhood in a village near here, police said on Saturday.

The woman with injuries in her neck was hospitalised late Friday after the incident but died on Saturday without responding to treatment, they said.

The man, a resident of Jakkamanayakanpatti and engaged in seasonal business in clothing, was overpowered and handed over to police, who arrested him and investigations were on.

He had recently returned from Sri Lanka and directed to remain under quarantine by health authorities as per the protocol for foreign returnees to check coronavirus spread.

He came out of his house on Friday evening and all of a sudden, denuded himself and began running through the street.

Shocked family members including his father gave a chase even as he caught hold of Nachiyammal, seated on her house’s front yard and bit hard her neck.

The man’s kin overpowered him and admitted the woman to nearby Bodi Government Hospital where doctors on Saturday said she succumbed to her injuries, not responding to treatment. Health authorities were unavailable for comments immediately.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.