Farmer loan waiver often goes to best connected than poor: Rajan

Agencies
December 14, 2018

New Delhi, Dec 14: Former Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday claimed that the loan waivers for farmers actually go to the "best connected rather than the poorest".

He also underlined as to how it creates problems for the fiscal of the state too.

"Certainly, there is a reason to discuss about farm distress but the question of whether the flows to farmers is best affected by waiving loans, after all this only a subset of farmers who get those loans and it often goes to the best connected rather than the most poorly off. It obviously creates enormous problems for the fiscal of the state once those waivers are done," Rajan said at an event here.

The former RBI chief also took the occasion to assert that Indian farmers deserve no less and that there is a need to create an environment in which they can be a vibrant force.

"To the question of whether there are fiscal transfers needed for farmers, is certainly an issue that needs to be debated but also investment is needed in that. You can see the set of policies that we recommend is about how to make agriculture itself a vibrant industry as opposed to an industry which needs to propped up through transfers. I think our farmers deserve no less. We need to create an environment in which they can be a vibrant force. I would say more resources are definitely needed where the loan waivers are the best," he added.

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May 18,2020

New Delhi, May 18: Very severe cyclonic storm ‘Amphan’, over central parts of South Bay of Bengal, has intensified into extremely severe cyclonic storm, the India Meteorological Department (IMD) said on Monday. The weather department has warned that ‘Amphan’ may turn into a “super cyclonic storm’.

According to experts, North Odisha coast will face the maximum impact of cyclone Amphan when it makes landfall.

“Wind speed expected to be 110-120 kmph, gusting up to 130 kmph. Balasore, Bhadrak, Jajpur, Mayurbhanj dist can be affected on 20 May (when it makes landfall), IMD Bhubaneswar scientist Umashankar Das told news agency ANI.

The IMD has said that ‘Amphan’ will cross West Bengal - Bangladesh coasts between Digha (WB) and Hatiya island - in the afternoon/evening of May 20 as very severe cyclonic storm.

Earlier, the IMD had warned that ‘Amphan’, over central parts of South Bay of Bengal, will intensify into an extremely severe cyclonic storm on Monday.

“Very Severe Cyclonic Storm (VSCS) ‘AMPHAN’ over central parts of South Bay of Bengal near latitude 12.5°N and longitude 86.4°E, about 870 km nearly south of Paradip (Odisha). To intensify further into an Extremely Severe Cyclonic Storm (ESCS) in the next six hours,” the IMD said in a tweet on Monday.

National Disaster Response Force (NDRF) has sent its 10 teams to Odisha and seven teams to West Bengal in view of the approaching Cyclone Amphan, news agency reported.

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News Network
February 5,2020

New Delhi, Feb 5: Taking on Delhi Chief Minister Arvind Kejriwal after Shaheen Bagh shooter Kapil Baisala was identified as an AAP worker by police, BJP chief J P Nadda on Tuesday said it exposed the party and Kejriwal who were playing with the country's security.

The Aam Aadmi Party hit back, questioning the police investigation.

In a series of tweets, Nadda said people of the country and Delhi today have seen the "dirty face" of AAP.

"For political longing, Kejriwal and his people even sold the security of the country. Earlier, Kejriwal used to insult the Army and advocate terrorists, but today relations with those who carry out their terrorist activities came to light," he said.

Nadda said he wanted to make it clear to Kejriwal that this country is bigger than any election, any government, and "this nation will not forgive those who play with its security. Kejriwal and his entire team have been exposed. The people of Delhi will give a befitting reply".

He claimed the entire country has seen "photos of Imam Hussain, the MLA and former minister of the Delhi government, with a radical terrorist organisation, PFI".

Days before Delhi goes to polls, police claimed that Baisala is a member of the Aam Aadmi Party. They said Baisala joined the party in early 2019 along with his father.

Police said it had photos of Baisala purportedly joining AAP along with his father Gaje Singh last year.

AAP's Rajya Sabha MP Sanjay Singh alleged that photos which were part of investigation were leaked to the BJP. He also said the party will approach the Election Commission to raise this issue, which has cropped up four days before the polling date.

"On whose instance, the police is giving statement? How did the photos which were part of the investigation reach the BJP? Before the news came out, Manoj Tiwari in the morning stated that the accused was from AAP. How did Manoj Tiwari get this news," Singh questioned in a press conference.

Union minister and BJP's in-charge for the Delhi polls, Prakash Javadekar, in a press conference alleged that "their (AAP's) designs are very clear from the beginning and they are trying every trick".

The whole conspiracy of AAP is to "divide society, cause fear in a community and create a vote bank," he charged.

Javadekar also claimed that photos of Baisala were recovered by police from his mobile phone although they were erased.

He also claimed that Baisala and his father were welcomed by Sanjay Singh at their joining of AAP.

"This proves AAP misleads youth and pushes them on the wrong path. AAP's strategy is to divide two communities, they want to instigate riots in Delhi," Javadekar alleged.

He further alleged that AAP leader Sanjay Singh had said violence would take place in Delhi. Their "conspiracy has been exposed by Delhi Police," he claimed.

"We condemn this politics of AAP," he said.

Javadekar also claimed this was "not an isolated incident" as AAP member Amanatullah Khan made a "very provocative speech" and the party supported Shaheen Bagh and did not give permission for the prosecution of members of the "tukde-tukde gang".

He hinted the BJP could approach the Election Commission against AAP over the issue.

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News Network
May 17,2020

New Delhi, May 17: Spelling out the government’s fourth tranche of initiatives towards achieving Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, Union Finance Minister Nirmala Sitharaman on Saturday announced significant structural reforms in eight sectors of the economy — coal, minerals, defense production, aviation, power distribution in Union territories, space and atomic energy.

Addressing her fourth and the second-last press conference, Sitharaman said crucial sectors such as coal production and exploration, defence production and space would see an increased participation from private entities.

Coal sector:

In the realm of coal exploration, the government has decided to liberalise the entry norms for private entities, which would mean that any interested party could bid for a coal block and sell it in the open market. The minister said that the government would do away with all the eligibility conditions at the time of bidding for a coal block, except requiring an “upfront payment with a ceiling.”

Nearly 50 coal blocks would be offered to private players immediately, revealed Sitharaman.

She further said that Rs 50,000 crore would be spent by Centre in creating ‘coal evacuation’ infrastructure, which would expedite the transport of mined product to the destination.

Defence sector:

In defence production, Sitharaman revealed that the government would raise the foreign direct investment (FDI) limit in the sector from current 49 per cent to 74 per cent. Further, the government would also work towards corporatising the ordnance factory boards. “Corporatising doesn’t amount to privatization,” added Sitharaman.

In a bid to boost indigenous production of defence products and gave an impetus to Make in India, Sitharaman said that the government was in a process of notifying a list of weapons/platforms for an import ban with year-wise timelines.

These decisions would also help in reducing huge import bills, the finance minister said.

Privatisation of electricity:

In another announcement that could have an effect on electricity charges in the union territories, Union Finance Minister Nirmala Sitharaman announced on Saturday that power departments and utilities in all the centrally administered territories would be privatised.

Sitharaman said that the proposed move would lead to better service to consumers and improvement in operational and financial efficiency in distribution.

The finance minister said that decision was guided by 'sub-optimal' utilisation of performance of power distribution and supply'.

She said that the move to that effect would provide a model for emulation by other utilities across the country, in what could be an indicator of what's in the pipeline for utilities in other states as well.

Sitharaman said that the privation reform was in line with the tariff policy reforms and would help in enhancing consumer rights, promote industry and improve the overall sustainability of the sector.

Space sector:

Sitharaman also announced the opening up of the space exploration sector for private players. Till date, the government-run Indian Space Research Organisation (ISRO) has held a monopoly on all activities concerning space exploration and satellite launches.

The Indian private sector will be a co-traveller in India's space sector journey, said Sitharaman, while announcing a series of structural reforms in eight crucial areas of the economy. The Union Finance Minister was addressing her fourth press conference in as many days, as a follow-up towards realising Prime Minister Narendra Modi's vision of 'atmanirbhar Bharat', which was spelled out in his video address on May 12.

Sitharaman said that the reforms in the space sector will provide a level-playing field for private companies in satellite launches and space-based services.

She said that the private sector would be allowed to use ISRO facilities and other assets to improve their capacities. Stating that the government would provide predictable policy and regulatory environment to private players, Sitharaman also disclosed that future projects for planetary exploration and outer space travel among others would be opened up for private entities.

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