Narendra Modi a marketing man, can even lay claim to Taj Mahal: Akhilesh Yadav

November 23, 2013

AkhileshLucknow, Nov 23: Chief minister Akhilesh Yadav took a dig at Narendra Modi on Friday saying the BJP's PM aspirant's campaign was heavily based on strong marketing tactics. Without taking Modi's name even once, Akhilesh said, "Ye sales aur marketing ke log hain. Inhe agar America ka visa milta to Taj Mahal ko bhi claim kar lete." (These people have built their image with the help of strong sales and marketing. If they were granted the US Visa, they would even stake claim to having built the Taj Mahal.)

The CM was speaking at an event to flag off radio taxi services in 13 municipal cities of Uttar Pradesh.

Akhilesh also ridiculed Modi's dig at Gujarat lions taking over UP's Chambal valley. Implying UP knows how to tame the Gujarati lions, Akhilesh said the state government is making preparations to cage them within a "grand" 300 acre cage. Cheekily, he added that if Gujarat gave UP its lions, the most populous state of the country had also sent its share of "animals" to it.

Akhilesh, who has so far steered clear of political mud-slinging was more vocal than usual. A day after the Samajwadi Party rally in Bareilly drew large numbers, the CM's comments put a question mark on reports of a tacit understanding between the SP and the BJP. He said that the real battle of votes in UP was now actually a grassroots level fight over development. "This a battle of development in which SP is bound to win. People who are nothing more than media constructs will also be demolished by the media," he added.

UP CM, who laid emphasis on the government's commitment to its poll promises, said he was happy with the speed at which the government machinery was executing its plans. On Friday, Akhilesh laid the foundation stone of a 500-bed super-specialty cancer hospital and research and referral centre, flagged off radio cab service, launched online tax collection service for commercial vehicles in Ghaziabad and Lucknow and also laid the foundation stone for Awadh Shilp-gram along the lines of Dilli Haat, to encourage indigenous handicrafts.

Akhilesh also said that the ongoing political race in UP was worth nothing. "People from other states may come and stake their claim, but if you look at history you will know UP produces the prime ministers," he said, hinting at SP chief Mulayam Singh Yadav's prime ministerial aspirations.

Akhilesh also sharpened his attack against BSP chief Mayawati, claiming she had given out too many "sweeteners" to investors in UP and set a bad precedent. Saying his government and its officers were doing everything to attract industry, he said the BSP government has left the state's economy in a mess. "The condition of our economy is such that in many cases we will not get loans even if we want them," Akhilesh said. He also alleged that "pancham tal" (CM's secretariat) during Mayawati's term was forever researching new ways to increase corruption. The SP government, he added, was having to battle this while bringing fresh development to the state. "Now there are other people who are coming to UP to loot its coffers," he added, making yet another reference to Modi.

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News Network
April 1,2020

Prayagraj,  April 1: Seven Indonesian nationals, one person from Kolkata and one from Kerala who had attended the event at Delhi's Nizamuddin Markaz have been put under quarantine, informed SP (City) Prayagraj, Brijesh Kumar Srivastava on Wednesday.

"Seven Indonesian nationals, one person from Kolkata and one from Kerala, were found at Abdullah mosque here. During the investigation, it was found that they had attended the Markaz gathering in Delhi. These people, along with 28 people who came in contact with them, have been quarantined." he said.

"A case has also been registered against them for not informing the police on reaching here," he added.

Earlier, Delhi Health Minister Satyendar Jain had said that the officials are not certain of the accurate number of people who participated in the event but it is being estimated that 1,500-1,700 people had assembled at the Markaz building.

The religious gathering was held at the Markaz building in Nizamuddin between March 13 and March 15.

The total number of active cases rose to 1466 in the country, while 132 people have been cured and discharged after receiving treatment, as of 9 am.

The number of deaths due to the infection also rose to 38, while one person has migrated.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
June 5,2020

New Delhi, Jun 5: India registered its highest spike in COVID-19 cases with 9,851 more cases and 273 deaths reported in the last 24 hours. The total number of cases in India reached 2,26,770 including 1,10,960 active cases, said the Union Ministry of Health and Family Welfare.

The Ministry informed that 1,09,462 persons have been cured/discharged/migrated while 6,348 people have succumbed to the disease so far.

Maharashtra has so far reported 77,793 cases, more than any other state in the country, while the total number of active cases in the state stands at 41,402.

In Tamil Nadu, 27,256 cases have been detected so far while Delhi has reported 25,004 coronavirus cases.

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