From Mamata to Owaisi, KCR's call for non-Cong, non-BJP front gains support

Agencies
March 5, 2018

Hyderabad, Mar 5: Within days of proposing a "non-Congress, non-BJP front, Telangana Chief Minister and Telangana Rashtra Samithi (TRS) chief K Chandrasekhar Rao has received support from several political parties including the Mamata Banerjee-led Trinamool Congress.

Former Jharkhand Chief Minister Hemant Soren and Hyderabad lawmaker Asaduddin Owaisi were the other leaders who have extended their support to the TRS chief.

The chief minister, on Saturday, had expressed his wish to join national politics to effect a "qualitative change", while accusing successive governments ruled by the Congress and the BJP at the Centre of having "miserably failed" to ensure development."Since morning, I have been receiving many calls from various places in India.

Today afternoon, West Bengal CM Mamata Banerjee called me and said that I have taken the right decision and she will be supporting me," Chief Minister Rao said while addressing a huge crowd at his official residence, Pragati Bhavan in Hyderabad."Farmers, Dalits, most backward classes are neglected.

 This situation should be changed. How long do they need to face problems.

 This has to change and this is not possible from these two parties. Hence, a non-Congress, non-BJP front should be formed in the country," Rao said.JMM leader Hemant Soren and AIMIM chief Asaduddin Owaisi have also expressed their solidarity.

"Former Jharkhand chief minister Hemant Soren also called, telling me that he is standing behind me. Soren also told me that he is trying to speak with many other people in India and will meet up soon and speak on the issue," said Rao.

He was addressing a gathering of prominent TRS leaders, ministers and elected representatives of the party at Pragathi Bhavan, his official residence in Hyderabad.

The TRS chief further said he would talk with all like-minded parties and leaders for creating an agenda for the country's growth."I will soon meet like-minded leaders and we will also hold consultations with economic experts, social scientists and farmers for creating an agenda for the country's growth," Rao said.

The Congress failed to get a majority in Meghalaya and did not win a single seat in Tripura or Nagaland, for which elections were held last month.

In a press conference on Saturday after the BJP decimated the Left and Congress in the three states, Rao hinted at forming a third front-like platform.

The TRS chief said he was keen to participate in national politics to bring about a "change"."There is need for qualitative change in national politics... There is a serious need. People are vexed now. No qualitative change is seen by people even after 70 years of democracy.... China developed in less than three decades. What both the Congress and the BJP did all these years?" Rao had asked."People are looking for change. Can we expect something new to happen if the Congress comes to power after the BJP? It can be a third front or any front... Are we not part of the country? Discussions are going on. There is no secret about it," he had said.

In the gathering today, Rao underlined the need to implement "truthful cooperative federalism" and delegation of powers to states for their development."Such initiative would spread across country from Telangana," he said.Rao alleged that the BJP at the Centre had failed to do anything for developing the country in the last four years."The national parties, the BJP and the Congress, should change their attitude towards states.

Federal system is for a namesake (now). Is there federalism in this country?The agriculture system, education, urban development should be handed over to the states. But it is not being handed over but kept at Delhi (with the Centre)," Rao said.

He said states should be allowed to frame norms regarding quotas.Batting for decentralisation, the chief minister said that even states can launch and implement schemes such as the Pradhan Mantri Gram Sadak Yojana (PMGSY)."Can't state governments do it (undertaking such measures). Change should start and it starts from Telangana for the development of India. Change has to be brought... You cannot threaten me. You can threaten those who resorted to scams not me," Rao said.

He said the Constitution should be amended for the sake of the people."I spoke to some people in Delhi and they say the law and constitution in China is different.

 I say then you become different. Constitution and the governments, the PM, CMs all are for the public. You bring in changes in law and also amendments in the Constitution.

The countrymen will be with you," Rao said.The TRS chief also referred to the "fleeing" of liquor baron Vijay Mallya, wanted in loan default cases, and diamantaire Nirav Modi, an accused in the PNB fraud case, from the country."Is there no one to question.

Vijay Mallya fled the country and now Nirav Modi... What is this?" he asked.Rao said farmers were committing suicide because the BJP and the Congress did nothing for them."My countrymen, you know and understand the 'chamatkar' of both the parties who ruled the country for over 60 years. The price of every essential commodity is increasing but not the minimum support price on agriculture produce. GDP growth is not reflecting in the lives of farmers and their income is not increasing," Rao said.

What the countries like China, Japan and Singapore have achieved in terms of growth can be achieved by India as well, he said.Revealing his national ambitions, Rao had said people were yearning for change and he would not mind leading the movement for effecting the "change".He said he had recently met CPI (M) leader Sitaram Yechury and discussed a lot of issues.

Yechury's party had officially rejected any tie-up with the Congress for upcoming elections.Rao had also said he had nothing against the prime minister.

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
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

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
April 23,2020

New Delhi, Apr 23: With an increase of 1,229 new COVID-19 cases in the last 24 hours, the total number of cases reached 21,700, said the Union Ministry of Health and Family Welfare on Thursday.

The tally is inclusive of 16,689 active cases, 4,325 patients have been cured/discharged and migrated, while 686 patients who have died due to the deadly virus.

According to the ministry's data, Maharashtra is on the top of the list with most COVID-19 cases, 5,652 cases of which 789 patients have recovered and 269 patients succumbing to coronavirus.

Gujarat and Delhi are second and third on the list respectively with Gujarat having 2407 cases of which 179 patients have recovered and 103 deaths. Meanwhile, in Delhi, the tally stands at 2248 cases of which 724 patients have recovered and 49 patients have died from COVID-19.

Rajasthan's tally stands at 1,890 cases with 230 patients cured while 27 deaths have been reported as of Thursday.

Madhya Pradesh has 1695 cases of which 148 patients have recovered and 81 deaths reported. Tamil Nadu, on the other hand, stands with 1629 cases of which 662 patients have recovered and 18 have died due to the deadly virus.

Goa has seven cases reported of which all seven patients have recovered from the coronavirus.

Prime Minister Narendra Modi announced on April 14, that the nationwide lockdown would be extended to May 3.

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
May 17,2020

New Delhi, May 17: Following the COVID-19-induced economic disruptions, up to 135 million jobs could be lost and 120 million people might be pushed back into poverty in India, all of which will have a hit on consumer income, spending and savings, says a report.

According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP).

"Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.

India's COVID-19 tally has crossed 90,000 and the nationwide death toll has touched nearly 2,800 so far.

The report titled "India: Surmounting the economic challenges posed by COVID-19: A 10-point programme to revive and power India's post-COVID economy" said the 'collateral damage' of the forecasted GDP slowdown, will be felt most acutely in employment, poverty alleviation, per-capita income and overall nominal GDP.

"Unemployment may rise to 35 per cent from 7.6 per cent resulting in 136 million jobs lost and a total of 174 million unemployed. Poverty alleviation will receive a set-back, significantly changing the fortunes of many, putting 120 million people into poverty and 40 million into abject poverty," the report said.

"India is headed towards a W-shaped economic recovery with a potential GDP contraction of 10.8 per cent in FY21. An opportunity loss of USD 1 trillion is staring India in its face," said Barnik Chitran Maitra, lead author of the report and Managing Partner & CEO of Arthur D Little, India and South Asia.

Maitra further said "for its USD 5 trillion vision, a radical economic approach is needed, centred on an immediate stimulus and structural reforms. The Prime Minister's visionary 'Atma Nirbhar Bharat Abhiyan' is a good start to this new approach."

The report lauded the steps taken by the government and the Reserve Bank of India, but said a far more assertive approach may be required given the magnitude of the adverse economic output.

The report suggested a 10-point programme to accelerate the recovery which include strengthening the 'safety net' significantly for the most vulnerable, enable survival of small and medium businesses, restarting the rural economy and providing targeted assistance to at-risk sectors.

It further said the government should launch "Make in India 2.0" to capture global opportunities, build 'Modern India', accelerate Digital India and Innovation, strengthen global investment corridors with the US, UAE, Saudi Arabia, Japan and the UK, debottleneck land and labour and transform banking and financial markets in a bid to secure a sustainable economic future for 1.3 billion Indians. 

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.