Modi govt messed up the economy, mismanaged J&K: Manmohan Singh

TOI
March 18, 2018

New Delhi, Mar 18: Senior Congress leader Manmohan Singh today attacked the BJP-led NDA government for failing to deliver on its "tall promises" and "making a mess" of the Indian economy.

"The BJP government made tall promises. PM Modi himself said that his government will double farmers' income. For that, a growth rate of 12 per cent per annum is necessary which is unthinkable in the current scenario," Singh said in an address at the 84th plenary session of the Congress.

Taking a dig at Prime Minister Narendra Modi's propensity for "jumlebaazi" (empty rhetoric), Singh charged that the work done by this union government falls short of the claims made by its leaders.

"He (Modi) said we will provide 2 crore jobs, we have not seen even 2 lakh jobs... It is a jumla-type statement unlikely to be achieved," he charged.

Describing the government's demonetisation move as "ill-considered" and GST as "hastily implemented", the Congress leader said the twin measures had "messed up Indian economy".
In a similar vein, Congress leader P Chidambaram claimed the Modi government had inherited a strong economy legacy from the erstwhile UPA regime, but four year on, the Indian economy is lagging behind its global competitors.

"Today, the Indian economy is decoupled from the world economy which is growing," he said.

He also termed demonetisation a "big lie", before offering some choice words of advice to the RBI governor.

"Demonetisation was a big lie. RBI is still counting and won't tell us how much money has come back. I would like to advice the RBI Governor to go to Tirupati and get the hundi collectors. They count money faster than the RBI," Chidambaram quipped.

Singh, a noted economist and former finance minister, disparaged the budgetary allocations made by the government for the defence sector, calling it "inadequate" given the current geo-political scenario in India's neighbourhood.

"The defense expenditure of our country is no more than 1.6 per cent of our GDP. This is far too inadequate to meet the challenges of our security apparatus and our needs," he said. 

On Jammu and Kashmir (J&K), Singh blamed the BJP-PDP combine for engendering instability, and likened the two parties to "the left hand doesn't know what the right hand is doing".

"The Modi government has mismanaged issues in J&K like never before. They have installed a government where the two wings of the administration are working against each other. The atmosphere is deteriorating everyday," he warned.

The former PM said that India currently standing at the crossroads, and while it has many opportunities in hand, it also faces many challenges. At such a time, the Congress party will provide a new pathway to chalk out the future of the country, he asserted.

"The Congress party made India what it is today. It led the freedom struggle and guided India towards development after Independence. Today, we face similar challenges of carrying forward development and social justice," said Singh.

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Agencies
May 26,2020

New Delhi, May 26: As India ranked 10th in the global infection list, overtaking Iran, which was an early hotspot of coronavirus, India's top medical body has said the human trials of COVID-19 vaccine may begin at least in six months.

Dr. Rajni Kant, Director Regional Medical Research Centre and Head at the Indian Council of Medical Research (ICMR) said, "The virus strain isolated at the National Institute of Virology (NIV) laboratory in Pune will be used to develop the vaccine, and this strain has been successfully transferred to the Bharat Biotech International Ltd. (BBIL). It is expected that the human trials of the vaccine will begin in at least six months."

Queried on the focus areas as India inches closer to 1.4 lakh COVID-19 cases, Kant said we should not get anxious about the rapid increase in numbers, especially in the past week, which saw 5,000 Covid-19 cases daily, instead focus on protecting the most vulnerable group.

"We should not fear from increasing Covid-19 cases. The elderly and people with comorbidities need protection. This is the highly vulnerable group, and we need to deploy resources and develop strategies to keep the mortality rate as low as possible in this group," said Kant.

Initially, it was assumed that the country would require thousands of ventilators, but last week, the health ministry said only 0.45 per cent of COVID-19 cases need ventilator support.

Kant insisted the focus should be on five per cent to 10 per cent serious patients. "We are testing more than one lakh daily and our case fatality rate is already one of the lowest in the world. In absence of vaccine, people should follow social distancing guidelines," he added

On the significance of the recovery rate, Kant said the increasing recovery rate of the COVID-19 patients, which is at 41 per cent, is a bright spot in India's fight against deadly viral infection.

Queried on large scale COVID-19 cases in Mumbai, Delhi and Ahmedabad, Kant said the population density in these regions is very high, which proves to be the just right environment for the viral infection.

He insisted on developing robust cluster management strategies in the hard-hit coronavirus spots, and the movement of people should be curtailed in these areas.

"Currently, a lot of people are moving around easily and avoiding social distancing norms. The first phase of the lockdown was very effective, but now things have changed," added Kant.

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News Network
March 29,2020

New Delhi, Mar 29 : Notwithstanding the 21-day coronavirus lockdown, the Reserve Bank of India (RBI) has decided to go ahead with the merger plan of ten state-run banks into four larger bank from April 1. The apex bank has issued four separate releases announcing that the branches of merging banks will operate as of the banks in which these have been amalgamated from next month.

RBI's statement comes after Finance Minister Nirmala Sitharaman's clarification on Thursday that the mega bank consolidation plan was very much on track and would take effect from April 1.

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector.

Bank officers' unions, however, earlier this week wrote to the prime minister seeking to defer the merger schemes of lenders due to the lockdown triggered by coronavirus outbreak.

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India.

Under this, the branches of Oriental Bank of Commerce and United Bank of India will operate as branches of Punjab National Bank from April 1, 2020, and branches of Syndicate Bank as that of Canara Bank, the RBI said in a separate releases.

Allahabad Bank branches will operate as those of Indian Bank while the branches of Andhra Bank and Corporation Bank will function as the branches of Union Bank of India from the beginning of next fiscal year 2020-21, the RBI said.

"The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India... The scheme comes into force on the 1st day of April 2020," RBI said.

Customers, including depositors of merging banks will be treated as customers of the banks in which these banks have been merged with effect from April 1, 2020, the RBI noted.

Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country.

In a letter written to the Prime Minister on March 25, the All India Bank Officers'' Confederation (AIBOC) said, "The finance minister yesterday announced a slew of measures in view of the deleterious effect of the contagion. We are also expecting an extension of closing related activities and the revision of the closing date itself from March 31 to June 30, which is the need of the hour."

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Agencies
February 27,2020

Bengaluru, Feb 27: Defence Minister Rajnath Singh on Thursday said that the situation is moving towards normalcy in Delhi after recent incidents of violence.

"Situation is moving towards normalcy," Rajnath told media here.

Joint Commissioner of Police (Traffic) Narendra Singh Bundela on Thursday said that the law and order and traffic situation in violence-affected parts of Delhi is normal.

"The situation is quite normal and peaceful as far as security and traffic are concerned. We have held talks and conducted patrols with people of all communities. Services such as road cleaning have resumed and traffic flow is normal," Bundela told ANI here.

"People can go out to get their daily needs from the market but we are advising them not to come out in groups," he added.

Meanwhile, the death toll in the incidents of violence in North-East Delhi has risen to 34.

Delhi Police has registered 18 FIRs and 106 people have been arrested in connection with the violence.

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