Modi's 5 years 'most traumatic, devastating', he should be shown exit door: Manmohan Singh

Agencies
May 5, 2019

New Delhi, May 5: Prime Minister Narendra Modi should be shown the exit door as his five-year rule has been "most traumatic and devastating" for India's youths, farmers, traders and every democratic institution, his predecessor Manmohan Singh said on Sunday.

Singh, in an exclusive interview to PTI, dismissed the notion that there was a wave in favour of Modi and asserted that the people have made up their minds to vote out the government that "does not believe in inclusive growth and is only worried about its political existence at the altar of disharmony".

In one of his most fierce attacks on the Modi dispensation, Singh alleged that the past five years only witnessed "stench" of corruption peaking to "unimaginable proportions", adding demonetisation was perhaps the "biggest scam" of independent India.

Incidentally, the BJP campaign in the run-up to the 2014 elections had centred on various alleged scams, including in the allocations of 2G spectrum and coal blocks, during the 10-year tenure of the Manmohan-led UPA government.

The former Prime Minister also called Modi's Pakistan policy "slipshod", which he said was marred by a series of "flip-flops" - from going to Pakistan uninvited to inviting "rogue" ISI to the Pathankot air base in connection with the probe into a terrorist attack.

Singh, known as the architect of India's economic reforms in 1990s, felt the country is headed for a slowdown and accused the Modi regime of leaving the country's economy in "dire straits".

He said people are "fed up" with the daily rhetoric and cosmetic change by the current dispensation and there is an undercurrent against this "illusion and boastful self aggrandizement".

In a bid to counter the BJP's focus on the issues of nationalism and terrorism in this election, the former Prime Minister sought to question Modi's commitment.

He said it was "distressing" to note that Modi was "filming movies" in the Jim Corbett National Park instead of chairing any meeting of the Cabinet Committee on Security (CCS) in the immediate aftermath of the Pulwama terror attack in which 40 CRPF personnel were martyred.

He claimed the "gross intelligence failure" in Pulwama speaks volumes about this government's preparedness to tackle terror.

"Let's not forget that Narendra Modi's slipshod policy on Pakistan has been marred by a series of flip-flops - from going to Pakistan uninvited to inviting the rogue ISI to investigate the Pathankot Air Base terror attack. Does it not speak volumes about the strategic failures of Modi Government on national security front," he asked.

Singh said the Modi government's record on national security is "dismal" as incidents of terrorism have seen a quantum jump.

"A lie spoken a hundred times does not become the truth," he said on Modi's plank of nationalism, adding that terror attacks in Jammu and Kashmir alone have gone up by 176 per cent and ceasefire violations at the border with Pakistan up 1,000 per cent in the past five years.

He said that division and hate have become synonymous with the BJP and it thrives on societal fissures.

"A government which does not believe in inclusive growth and is only worried about its political existence at the altar of disharmony should be immediately shown the exit door," he noted.

He alleged that in the past five years, the stench of corruption has peaked to "unimaginable proportions" and "there is a definite collusion of people holding political positions and scamsters who fled the country after defrauding banks".

Singh said the BJP's "political distress" emanates from its "failed track record" and claimed the party is searching for new narratives every day. "This reflects the bankruptcy of a national security vision for the country."

"Five years of Modi government is a sad story of governance and accountability failure. In the year 2014, Modiji came to power on the promise of 'acche din'. His five-year rule has ended up being the most traumatic and devastating for India's youth, farmers, traders, businesses and every democratic institution," he said.

"Our socio-political ambience has lost cohesiveness. People are fed up with the daily loud rhetoric of cosmetic change. There is a sense of deep despair and disillusionment amongst the masses. People have made up their minds to reject the Modi Government and the BJP so that the future of India is safe and secure," Singh said.

The former Prime Minister said one man would not do any justice to the aspirations and hopes of the people by imposing the thought process and will of 'one person' on a diverse country like India.

"Representation in India is very important. A single man can neither represent all the desires of 130 crore people of India and can also not solve the variety of problems faced by them. The idea of 'one man as the monolith of knowledge' cannot be applied to India," he said on whether a presidential form of election is good for democracy.

On foreign policy, he said India has always been guided by national interests and not for "image building of any individual".

Foreign policy entails "gravitas", a sense of diplomacy and restraint, sensitivity towards the concerns of the host nation and ultimately furthering the interests of India, but "regrettably, this government's foreign policy is founded upon anything but a mature comprehension of diplomacy", he said.

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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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Agencies
February 16,2020

New Delhi, Feb 16: Aam Aadmi Party (AAP) national convener Arvind Kejriwal was on Sunday sworn-in as the Chief Minister of Delhi for the third time in a row at Ramlila Maidan here, after his party registered a massive victory in the recently concluded Delhi Assembly polls.

Kejriwal was administered the oath of office and secrecy by Delhi Lieutenant Governor Anil Baijal.

The sprawling Ramlila Maidan reverberated with sounds of thousands of people cheering for the AAP leader.

Kejriwal who received a hero's welcome here had extended an invitation to the people of Delhi urging them to attend the swearing-in ceremony to witness "the son of Delhi" taking oath today.

The AAP nearly repeated its 2015 performance in the elections, sweeping the Assembly polls winning 62 seats in the 70-member Assembly, in the face of a high-voltage campaign by the BJP, which fielded a battery of Union Ministers and Chief Ministers in its electioneering spearheaded by Home Minister Amit Shah. 

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News Network
May 27,2020

New Delhi, May 27: Professor Johan Giesecke of the Karolinska Institute, Sweden, on Wednesday claimed that India will ruin its economy very quickly if it had a severe lockdown.

Claiming that a strict lockdown may disrupt India's economic growth, Giesecke during an interaction with Congress leader Rahul Gandhi said: "In India, you will do more harm than good with strict lockdown measures. India will ruin its economy very quickly if it had a severe lockdown."

While calling for a soft lockdown approach in India, he suggested that India has to ease restrictions one by one. It may, however, take months to completely come out of lockdown, he said.

He further criticised countries across the globe for having no post-lockdown strategy.

Emphasising on the disease, the Swedish health expert said that coronavirus is spreading like a wildfire across the world. "It is a very mild disease. Ninety-nine per cent infected people will have very less or no symptoms," he added.

Meanwhile, Ashish Jha, Director Harvard Global Health Institute and a recognised public health official, in interaction with Gandhi, called for a need to go in for an 'aggressive' COVID-19 testing to create confidence among people.

"When the economy is opened post-lockdown, you have to create confidence. There is a need for aggressive testing strategy in high-risk areas," he said.

He asserted that COVID-19 is not the last pandemic in the world, adding that "We are entering the age of large pandemics".

Jha further said that countries like South Korea, Taiwan and Hong Kong have responded the best to COVID-19 pandemic, while Italy, Spain, the US and the UK have responded the worst.

A few days ago, the Gandhi scion had interacted with former Reserve Bank of India Governor Raghuram Rajan and Nobel Prize Winner Abhijit Banerjee to discuss various issues related to the COVID-19 crisis.

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