Judiciary, EC being torn apart under BJP govt: Rahul

Agencies
August 26, 2018

London, Aug 26: Congress president Rahul Gandhi on Saturday alleged that the judiciary and election commission were being "torn apart" under the BJP government and Prime Minister Narendra Modi was keeping mum on grave issues confronting the nation.

Addressing the Indian Overseas Congress in London, he said the Prime Minister insulted every Indian by saying that nothing had happened in the last 70 years.

"India shows the future to the world. The people of India made this possible, and the Congress helped them," he said.

"If the Prime Minister says nothing had happened before he assumed office, he is not commenting on the Congress, he is insulting every person of the country," Gandhi said.

He alleged that at present, Dalits, farmers, tribal people, minorities, the poor in India are told they will not get anything, and "if they raise their voice, they are beaten up".

The SC/ST Prevention of Atrocities Act has been "destroyed, and scholarships have been discontinued", he claimed.

"Today in India, people are discriminated against on the basis of caste and religion. Marginalised are betrayed, while people like Anil Ambani benefit," he alleged.

Attacking the Bharatiya Janata Party-led government on the Rafale deal, Gandhi said that the Hindustan Aeronautics Limited had been manufacturing aircraft for the last 50 years, but the contract was given to "someone who floated his company just 19 days before the deal".

"Nobody will get anything. Only Ambani will get everything. This man has accrued a debt of Rs 45,000 crore," the Congress president alleged.

Gandhi has been attacking the BJP government for allegedly inking the deal at a much higher price than the one the previous UPA regime had negotiated to benefit "one businessman".

Facing allegations of getting undue benefits from the multi-billion dollar Rafale deal, Anil Ambani-led Reliance Group has sent legal notices to several Congress leaders asking them to "cease and desist" from levelling such charges.

Reliance Group has denied the allegations relating to the deal under which France's Dassault is supplying the fighter jets and has entered into a joint venture with an Anil Ambani-led group firm to meet its offset requirement of the contract.

Ambani recently wrote to Gandhi on the deal saying his party has been "misinformed, misdirected and misled" by "malicious vested interests and corporate rivals" on the issue.

Gandhi said, "When the farmers of Karnataka and Telangana ask for loan waiver, PM Modi says this is not our policy. India's handful of richest businessmen have NPAs of Rs 12.5 lakh crore, but the Prime Minister says nothing."

He alleged that the Prime Minister kept quiet "when his own party's MLA raped a woman and when Nirav Modi ran away with people's money."

"Institutions such as the Supreme Court, Election Commission, Reserve Bank of India, which are the walls of our country, are being torn apart now," he alleged.

It was the first time that four senior-most judges of the apex court come out in public earlier this year to say they were not being allowed to work, he said.

"I do not use bad language for the Prime Minister. And if you have listened to the debate on the Rafale deal in Parliament, you would have seen that the PM could not answer my questions," he said.

Gandhi said China creates 50,000 jobs a day, while India creates only 450, and unemployment was a pressing issue.

"Our farmers need help. Our youth needs education, elderly people need health care. But, there is no discussion on the issues of farmers, education and healthcare," he said.

Lauding the contribution of non-resident Indians in the development of the country, he said, "Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives."

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Monday, 27 Aug 2018

Rahul is our only hope for India

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News Network
April 23,2020

Washington, Apr 23: Air pollution over northern India has plummeted to a 20-year-low for this time of the year, according to satellite data published by US space agency National Aeronautics and Space Administration (NASA).
The US space agency's satellite sensors observed aerosol levels at a 20-year low post the countrywide lockdown, implemented to slow the spread of the novel coronavirus.

"We knew we would see changes in atmospheric composition in many places during the lockdown," said Pawan Gupta, a Universities Space Research Association (USRA) scientist at NASA''s Marshall Space Flight Center. "But I have never seen aerosol values so low in the Indo-Gangetic Plain at this time of year," added Mr Gupta.

Acting Assistant Secretary of State for South and Central Asia Alice G Wells tweeted, "These images from NASA were taken each spring starting in 2016 and show a 20-year low in airborne particle levels over India. When India and the world are ready to work and travel again, let's not forget that collaborative action can result in cleaner air."

The data published with maps show aerosol optical depth (AOD) in 2020 compared to the average for 2016-2019. Aerosol optical depth is a measure of how light is absorbed or reflected by airborne particles as it travels through the atmosphere.

If aerosols are concentrated near the surface, an optical depth of 1 or above indicates very hazy conditions. An optical depth, or thickness, of less than 0.1 over the entire atmospheric vertical column is considered "clean." The data were retrieved by the Moderate Resolution Imaging Spectroradiometer (MODIS) on NASA's Terra satellite.

In the first few days of the lockdown, it was difficult to observe a change in the pollution signature. "We saw an aerosol decrease in the first week of the shutdown, but that was due to a combination of rain and the lockdown," said Mr Gupta.

Around March 27, heavy rain poured over vast areas of northern India and helped clear the air of aerosols. Aerosol concentrations usually increase again after such heavy precipitation.

"After the rainfall, I was really impressed that aerosol levels did not go up and return to normal. We saw a gradual decrease and things have been staying at the level we might expect without anthropogenic emissions," Mr Gupta said.

On March 25, the Indian government placed its 1.3 billion citizens under a strict lockdown to reduce the spread of COVID-19. The countrywide mandate decreased activity at factories and severely reduced car, bus, truck and airplane traffic. Every year, aerosols from anthropogenic (human-made) sources contribute to unhealthy levels of air pollution in many Indian cities.

Aerosols are tiny solid and liquid particles suspended in the air that reduce visibility and can damage the human lungs and heart.

In southern India though, the story is a little hazier. Satellite data show aerosol levels have not yet decreased to the same extent. In fact, levels seem to be slightly higher than in the past four years. The reasons are unclear but could be related to recent weather patterns, agricultural fires, winds or other factors.

"This a model scientific experiment," Robert Levy, program leader for NASA's MODIS aerosol products, said about the lockdown and its effects on pollution.

"We have a unique opportunity to learn how the atmosphere reacts to sharp and sudden reductions in emissions from certain sectors. This can help us separate how natural and human sources of aerosols affect the atmosphere," Mr Levy added.

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Agencies
June 2,2020

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

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News Network
April 23,2020

Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

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