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Manmohan Singh pens letter to President on PM Modi’s threat to Cong leaders

coastaldigest.com web desk
May 14, 2018

New Delhi, May 14: Former prime minister Manmohan Singh has written a letter to President Ram Nath Kovind in which he has condemned Prime Minister Narendra Modi's 'threat' to the Indian National Congress (INC) during a speech in Hubli, Karnataka.

Singh said Prime Minister Modi was "using his powers and privileges as Prime Minister to settle personal and political scores" during the Karnataka elections.

On May 6, Prime Minister Modi in a public rally in Hubli said: "Congress ke neta kan khol karke sun lijiye, agar seemao ko paar karoge, to ye Modi hai, lene ke dene pad jayenge (Congress leaders listen to me while having your ears wide open. If you cross limits, I am Modi, you will have to pay consequences.)"

Dr Singh said Prime Minister Modi's words were "menacing and intimidating with intent to insult and provoke breach of peace".

"We would like to state that neither the party nor our leaders will be cowed down by such threats," Singh added.

Throughout the letter, Singh asked the President to "caution" Prime Minister Modi against using "unwarranted, threatening and intimidating language" against anyone.

Apart from Singh, the letter was signed by Leaders of Opposition of both houses of Parliament and senior Congress leaders like P. Chidambaram, Ashok Gehlot, Ambika Soni, Mukul Wasnik, Motilal Vora, Kamal Nath and Ahmed Patel.

Here's the full text of the letter:

Respected Rashtrapati ji,

The Prime Minister of India holds a very special position under the Constitution of India. He heads the Union Cabinet to which the Union Executive reports and takes orders. On assumption of the office of the Prime Minister, the following oath of the office is administered:

"I, ___, do swear in the name of God/solemnly affirm that I will bear true faith and allegiance to the Constitution of India as by law established, that I will uphold the sovereignty and integrity of India, that I will faithfully and conscientiously discharge my duties as the Prime Minister for the Union and that I will do right to all manner of people in accordance with the Constitution and the law, without fear or favour, affection or ill-will. I will not directly or indirectly affirm, communicate or reveal to any person or persons any matter which shall be brought under my consideration or shall become known to me as the Prime Minister for the Union except as may be required for the due discharge of my duties as such Minister."

In the past, all Prime Ministers of India have maintained immense dignity and decorum in discharge of public or private functions/actions. It is unthinkable that in our democratic polity, the Prime Minister as Head of the Government would utter words which are threatening, intimidating in content and a public warning to the leaders and members of main opposition party i.e. Indian National Congress.

The Prime Minister on 06th May 2018 at Hubli in Karnataka in his public speech delivered the following address (In Hindi): Video Link: youtube.com/watch?v=7rRpte2qChk

The threat held by the Prime Minister to the INC's leadership deserves to be condemned. This cannot be the language of the Prime Minister of a constitutionally governed country of 1.3 Billion people. Such discourse whether in public or private is unacceptable conduct. The words used are menacing and intimidating with intent to insult and provoke breach of the peace. The Congress Party is the oldest party in India and has faced many challenges and threats. The Congress leadership has always exhibited courage and fearlessness in facing threat and challenges. We would like to state that neither the party nor our leaders will be cowed down by such threats.

The President of India as the constitutional head of the Union of India enjoys high duty and obligation to advise and guide the Prime Minister and his cabinet. Admittedly, the Prime Minister is not expected to use menacing language even in the course of election campaign which tantamounts to using his powers and privileges as the Prime Minister to settle personal and political scores.

Hon'ble President may caution the Prime Minister from using such unwarranted, threatening and intimidating language against leaders of the Congress Party or any other party or person as it does not behove the position of the Prime Minister

With Regards

(Signatures of Congress leaders including Manmohan Singh)

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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News Network
May 9,2020

New Delhi, May 9: With 3,320 coronavirus cases and 95 deaths reported in the last 24 hours, India's COVID-19 cases rose to 59,662 on Saturday, informed the Union Ministry of Health and Family Welfare.

The total number of active cases in the country now stands at 39,834 while the number of cured/discharged/migrated stands at 17,847.

The country has reported 1,981 deaths so far, added the Ministry.

Maharashtra has the highest number of cases with 19, 063 followed by Gujarat with 7,402 cases and Delhi with 6,318 cases.

Meanwhile, the country continues to remain in a lockdown slated to end on May 17.

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News Network
June 16,2020

New Delhi, Jun 16: Delhi Health Minister Satyendar Jain on Tuesday said that he has been hospitalised after suffering from high-grade fever and a sudden drop in his oxygen level.

He tweeted to inform that he was admitted to the Rajiv Gandhi Super Speciality Hospital (RGSSH) here, a dedicated COVID-19 facility under the Delhi government.

"Due to high-grade fever and a sudden drop of my oxygen levels last night I have been admitted to RGSSH. Will keep everyone updated," Jain tweeted.

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