Must set aside egos to take on BJP in 2019: Tejashwi

Agencies
June 24, 2018

New Delhi, Jun 24: The Congress should let other parties be in the "driving seat" in states such as Uttar Pradesh and Bihar where it is not the largest opposition party, says RJD leader Tejashwi Yadav, asserting that "egos" need to be set aside to jointly take on the BJP in 2019.

The issue of a prime ministerial candidate is secondary and it is more important for opposition parties to come together to "save the Constitution", said the leader of opposition in the Bihar Assembly and the younger son of Rashtriya Janata Dal chief Lalu Prasad.

"In my view, the talk about a prime ministerial candidate should be secondary because there is danger facing the country. The Constitution, democracy and reservation are in danger," the former Bihar deputy chief minister told PTI in an interview.

He cited the example of UPA-I, when the decision to appoint Manmohan Singh as prime minister was taken after the elections, to buttress his point.

Yadav, who declared that the opposition can win by coming together, said the 2019 elections will be a contest between Gandhi-Ambedkar-Mandal versus Golwalkar-Godse.

"So all political parties in the opposition that believe in social justice and secularism should set aside their egos and differences and come together to save the Constitution," the 28-year-old leader said, referring to the ideas of Mahatma Gandhi, B R Ambedkar and the Mandal commission on reservation versus RSS ideologue M S Golwalkar and Nathuram Godse.

The BJP wants to enforce "RSS law" in the country, Yadav alleged, recalling Union Minister Anant Kumar Hegde’s remarks that the party had come to power to change the Constitution.

Stressing on the need for an opposition alliance, he said the Congress, being the larger party, has a larger responsibility in taking others along.

"But the Congress has to see how it will manage alliance partners. In Bihar, we (RJD) are the largest party, so it has to make a strategy accordingly. Take UP, for instance, when Mayawati ji and Akhilesh ji are united… it should make the strategy according to that,” Yadav said.

According to him, the Congress' strategy should keep in mind not just its own interests but also that of its allies and make sure that they are shown respect.

Noting that the BJP and the Congress have a direct fight in almost 18 states, Yadav said in states such as Uttar Pradesh and Bihar, the Rahul Gandhi-led party should let the largest opposition party sit in the "driving seat".

Dispelling rumours about cracks in opposition unity with many top opposition leaders absent from Gandhi’s iftar earlier this month, Yadav said it was not an issue. He was not there but RJD MP Manoj Jha represented the party

"On the same day, we had also organised an iftar (in Bihar). A lot of political leaders had sent their representatives (to Gandhi's iftar),” he said, asserting that opposition unity was increasing.

"On the stage in Karnataka, Chandrababu Naidu ji was also there. He was part of the NDA earlier, now he was seen at the stage of opposition parties. It will take time for parties to come together, it cannot happen overnight,” the RJD leader said.

Asked if the BJP has an advantage having a PM face in Narendra Modi, Yadav claimed that there is a rift among NDA members and there is no surety about whether the alliance will stay or break up.

"People have seen Modi ji for four years, he did not do anything. People should ask what he is doing for the country. The one who has not worked, how can he be the PM face. BJP does not answer this question and diverts issues," he said.

India needs a prime minister who does not lie, who does not do "jumlebaazi" and who does what he says, Yadav said, alleging that Modi goes from making one promise to another without fulfilling them.

He also hit out at the government's foreign policy and said there was no sector in which the government had performed well.

The issue of seat sharing was an internal issue and would be taken care of, Yadav said, adding that it would not be a roadblock in opposition parties coming together for the 2019 general elections.

"Why don't we look at the NDA. Let's take the example of Bihar, how they are going to accommodate Nitish Kumar ji...How are they going to share seats with the Shiv Sena, will the alliance survive?" Yadav asked.

Bihar Chief Minister Nitish Kumar of the JD(U) had dumped the RJD and the Congress last year to join hands with the BJP to form a new coalition government in Bihar.

"The BJP is not alone. Why do we always forget and we always concentrate on Modiji's face. He has 40 alliance partners. He is not alone, why should we be alone," Yadav said.

"We have given an example in Bihar to form a Mahagathbandhan. Lalu ji has already set the formula for opposition unity.”

The problem is in their camp, not ours, a confident Yadav said.

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News Network
January 1,2020

New Delhi, Jan 1: Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets, news agency reported today quoting sources from the Enforcement Directorate (ED). The court also said all parties affected by the order can appeal at the Bombay High Court till January 18.

Last month, a consortium of Indian banks petitioned a London court for ex-billionaire Vijay Mallya to be declared bankrupt over ₹9,000 crore in unpaid debts. It comes as Mallya, who founded the now defunct Kingfisher Airlines Ltd, faces extradition to his home country of India.

Mallya had fled India in March 2016 and has been living in the United Kingdom since then. The 64-year-old former Kingfisher Airlines is fighting extradition to India in relation of fraud and money laundering allegations arising out of the debt acquired from the banks.

Mallya remains on bail pending the UK High Court appeal hearing in the extradition proceedings brought by India in relation to fraud and money laundering charges amounting to ₹9,000 crores. He had been arrested on an extradition warrant back in April 2017 and has been fighting his extradition in the UK courts since then.

He was granted permission to appeal against his extradition order, which is scheduled in the Royal Courts of Justice in London for February.

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News Network
February 11,2020

New Delhi, Feb 11: The Aam Aadmi Party on Tuesday appeared to be heading back to power for a second term in Delhi with the party leading in 52 seats of the 70 and the BJP ahead in 18 as votes for last week's assembly elections were counted, according to Election Commission figures. The contest for political power over the national capital was a bipolar one with the Congress nowhere in the reckoning, according to initial trends.

AAP supremo and chief minister Arvind Kejriwal was leading in the New Delhi seat by 4,300 seats, while his deputy Manish Sisodia from Patparganj seat was ahead by 102 votes.

BJP leader Vijender Gupta, who is also leader of opposition in the Delhi legislative assembly, was trailing by over 1,200 votes from Rohini.

As early celebrations broke out in the AAP headquarters in Rouse Avenue, BJP's Delhi unit chief Manoj Tiwari asked his party supporters not to lose hope.

"There are 27 seats where the difference of votes is between 700 to 1,000," Tiwari told reporters.

Looking ahead at victory, he said he was not nervous and was ready to take on the responsibilities that a win would bring.

"All talk is over. We have to wait for the blessings of the people. I am confident it will be a good day for BJP. We are coming to power in Delhi today. Don't be surprised if we win 55 seats," Tiwari said.

Kejriwal, who had led his party to a spectacular win of 67 of 70 seats in 2015, is expected to address party workers and the media later in the day. However, his party workers were upbeat and in celebratory mode.

"We have been saying since the beginning that the upcoming polls will be fought on the basis of work done by us... You wait and watch, we will register a massive win," AAP spokesperson Sanjay Singh told reporters.

"We hope we get such a clear majority that a message goes out that doing Hindu-Muslim politics will not work anymore," said AAP volunteer Fareen Khan at the party office.

The headquarters were decorated with blue and white balloons and big cutouts of Kejriwal were placed in different parts of the office.

Labour minister and AAP's Delhi unit convenor Gopal Rai was leading in Badarpur constituency by 1,994 votes.

Atishi, AAP's Kalkaji candidate, who was also instrumental in the transformation of Delhi government schools, was trailing by 190 votes.

AAP's Timarpur candidate Dilip Pandey was leading by over 1,500 votes.

BJP's Tajinder Singh Bagga was trailing on Hari Nagar seat by over 50 votes, while AAP's Raghav Chadha is leading from Rajinder Nagar constituency.

Congress' Chandni Chowk candidate Alka Lamba, who is sitting MLA from the constituency, was trailing by over 5,800 votes.

Counting centres are spread across 21 locations in 11 districts, including at the CWG Sports Complex in east Delhi, NSIT Dwarka in west Delhi, Meerabai Institute of Technology and G B Pant Institute of Technology in southeast Delhi, Sir CV Raman ITI, Dheerpur in central Delhi, and Rajiv Gandhi Stadium in Bawana in north Delhi.

The assembly elections were held on February 8.

A total of 672 candidates, including 593 men and 79 women, were in the fray for the hotly contested, often divisive polls with the anti-CAA protests in Shaheen Bagh occupying centrestage towards the end of the campaign.

While the AAP, of course, put forward Kejriwal, Prime Minister Narendra Modi, home minister Amit Shah and Uttar Pradesh chief minister Yogi Adityanath were among those who extensively campaigned for the BJP.

The Congress, still recovering maybe from the death of its three-time Delhi chief minister Sheila Dikshit in July last year, got into campaign mode much later. Former prime minister Manmohan Singh and party leaders Rahul Gandhi and Priyanka Gandhi were among those who campaigned for the Congress.

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News Network
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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