Modi govt may meet same fate as that of Indira's: Yashwant

January 31, 2016

Dona Paula (Goa), Jan 31: Veteran BJP leader Yashwant Sinha today tore into Prime Minister Narendra Modi and his government, saying there is no dialogue and they may meet the same fate as the Indira Gandhi-led Congress which was drubbed in the elections after Emergency.yashwant

Sinha, who along with some other BJP veterans has been marginalised in the party, was speaking at a panel discussion at the 'Difficult Dialogues' conference here, where CPI-M general secretary Sitaram Yechury also spoke.

"There is absolutely no scope of no dialogue... This is the great strength of Indian democracy. There will be aberrations here and there, there might be concerns about the present situation. But the great Indian society will take care of it and consign to dust those who do not believe in dialogue in India," Sinha said.

"The people of India will consign him to the dust, you just have to wait for the next elections," Sinha, who was finance minister in Atal Bihari Vajpayee government, said without naming Modi.

Alluding to the general elections in 1977 when Congress was ousted from power, he said such a neglect (of dialogue) will make the government last "19 months", the same duration as the Emergency.

We all know how the people of India reacted to the Emergency which was the "most concerted democratic effort in our country to still the voice of dissent", he said.

Replying to intervention from Yechury on need to ensure that dialogue in the society doesn't get stifled, he said, "I would only say that the stifler is in for serious trouble."

The veteran BJP leader also rued the fact that Opposition was not letting Parliament function. Without naming, he took a potshot at a Congress leader, who he said never raised concerns on the GST Bill in the standing committee meetings but later raised objections.

Under Vajpayee, the NDA government was able to pass several important legislations with the help of dialogue (with opposition), Sinha said.

His onslaught comes on the same day when another BJP leader, actor-MP Shatrughan Sinha, said that veteran leaders Vajpayee, L K Advani and Murli Manohar Joshi "deserve much more than what they have been given".

"Currently these leaders including me are trapped between oppression and respect," Shatrughan said in Pune.

Comments

aharkul
 - 
Sunday, 31 Jan 2016

Just wait and see.... within one year what happen Indian democracy..

Goodman
 - 
Sunday, 31 Jan 2016

BJP built on wrong ideology, wrong foundation. So tower can not stand on cracking foundation.

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Agencies
August 6,2020

Mumbai, Aug 6: Former Reserve Bank of India governor Raghuram Rajan said on Thursday that overly focusing on what sovereign rating agencies think can take one's eyes off what needs to be done for the economy.

"It is also important to convince both domestic and international investors that after the crisis associated with the pandemic is over, we will return to fiscal responsibility over the medium term, and the government should do more to convince them of that," Rajan told the Global Markets Forum.

India was placed under one of the strictest lockdowns in the world in late March for more than two months to stem the spread of the coronavirus, but cases have continued to rise steadily since the government eased restrictions in June, stymieing hopes of an economic recovery.

The government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP.

Several attribute the fiscal prudence to fear of a downgrade after Moody's cut India's rating and outlook in early June followed closely by a change in outlook from Fitch.

The central bank on its part too has reduced the key lending rate by 115 basis points on top of the 135 bps last year and is widely expected to cut rates by another 25 bps later on Thursday.

"The RBI and government have certainly been cooperating, but it seems like it is elsewhere, the ball is in the government's court to do more," Rajan said.

He said the RBI needs to focus on whether credit is reaching the stressed areas of the economy and also if the viable firms were able to access credit and not the unviable ones.

"And I think that's where it has to focus its attentions, because resources, as you well know, are limited in India today."

Recently analysts, however, have cited the growing possibility the RBI may prefer to pause and cut rates only at its October meeting.

Government officials too have suggested the possibility of any more fiscal stimulus being announced, would only come in the second half of the fiscal year, once a recovery has taken root and coronavirus cases have peaked.

"What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus," Rajan said.

"And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy".

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News Network
January 13,2020

Jan 13: India lost more than $1.33 billion to internet restrictions in 2019 as Prime Minister Narendra Modi’s government pushed ahead with his party’s Hindu nationalist agenda, raising tensions and sparking nationwide protests.

The worst shutdown has been in Kashmir, where after intermittent closures in the first half of the year, the internet has been cut off since Aug. 5 following the government’s decision to revoke the special autonomous status of the country’s only Muslim-majority state, a study said. The prologued closure was criticized by India’s highest court, which ruled Friday that the “limitless” internet shutdown enforced by the government for the last five months was illegal and asked that it be reviewed.

India imposed more internet restrictions than any other large democracy, according to the Cost of Internet Shutdowns 2019 report released by Top10VPN, a U.K.-based digital privacy and security research group. The South Asian nation recorded the third-highest losses after Iraq and Sudan, which lost $2.31 billion and $1.86 billion respectively to disruptions. Worldwide internet restrictions caused losses worth $8.05 billion, the report said.

The cost of internet blackouts was calculated using indicators from groups including the World Bank, International Telecommunication Union, and the Delhi-based Software Freedom Law Center. It includes social media shutdowns in its calculations.

India’s ministry of information and technology didn’t respond to an email seeking a response to the report’s findings.

‘Conservative Estimates’

Through 2019, India shut access to the internet for over 4,000 hours. The report added shutdowns in India were often narrowly targeted, down to the level of blocking city districts for a few hours to allow security forces to restore order. Many of these incidents were not included in the report.

“These are conservative estimates,” said Simon Migliano, head of research at U.K.-based Top10VPN. “Internet shutdowns are increasing and it shows a damaging trend.”

India’s other major internet disruptions coincided with two moves by the government that affect India’s Muslim minority. The first disruption took place in November in the states of Uttar Pradesh and Rajasthan after the Supreme Court handed a victory to Hindu groups over Muslim petitioners in a long-simmering dispute over a plot of land.

There were further disruptions in December when protests erupted against the introduction of a religion-based law that allows undocumented migrants of all faiths except Islam from neighbouring countries to seek Indian citizenship. The government enforced shutdowns across Uttar Pradesh and some Northeastern states in order to quell the protests, the report said.

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News Network
March 16,2020

New Delhi, Mar 16: Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

They said Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

The officials said Ambani, 60, has sought exemption from appearance on some personal grounds and he may be issued a new date.

Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad are being summoned for questioning in the case to take investigation forward.

Ambani's statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Kapoor, 62, is at present in ED custody after he was arrested by the central probe agency early this month.

The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

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