Narendra Modi hits out at Congress-led UPA govt, compares it to 'termites'

March 3, 2013

Narendra_Modi

New Delhi, Mar 3: Against the backdrop of a growing chorus for making him the BJP's prime ministerial candidate, Gujarat chief minister Narendra Modi today lashed out at the "commission-seeking" Congress-led UPA government which is destroying the nation like a termite and dubbed Prime Minister Manmohan Singh as a "night watchman" for the Gandhi family.

Modi was scheduled to speak on good governance in Gujarat, but he used the forum at the BJP conclave here to lambast the UPA government and the Congress in his one-hour speech.

"Congress is destroying this country like termites. It is very difficult to deal with termites - you finish them in one place and they rise in another. The only medicine for this ailment is sweat of the BJP worker. Only this sweat can free this nation from the termite that is the Congress," Modi said in his speech, amid applause from the gathering.

In what sounded virtually like an election speech, Modi said the time has come to throw out the Congress and bring in a government that is sensitive towards the sufferings of the people.

Attacking the Congress for scams like the VVIP helicopter deal and 2G spectrum, Modi said, "The time has come to draw a comparison between the Congress and the BJP. While BJP is for a mission, Congress is for commission. The contest will be between mission and commission."

Modi also alleged that the Congress tradition has been to sacrifice the nation's interest for the sake of one family.

Without naming Prime Minister Manmohan Singh, he said the Congress appointed a "night watchman" to keep the seat warm for the first family of the Congress.

"They did not realize that the night will be so long and dark. As a buffer, they appointed an economist to the post," he said.

Modi's address stood out in sharp contrast to that of his Madhya Pradesh and Chhattisgarh counterparts Shivraj Singh Chouhan and Raman Singh. While the two chief ministers stuck to highlighting achievements of their governments, Modi dwelled on national issues.

The Talkatora Indoor Stadium was jam-packed when Modi delivered his speech.

Modi said that though Pranab Mukherjee was more deserving, the Congress did not make him the Prime Minister and chose Manmohan Singh. "They realized that if Pranab Mukherjee is successful then what will happen to the (Gandhi) family."

The Gujarat chief minister also criticized the National Advisory Council, headed by Congress president Sonia Gandhi, as one which is filled with people belonging to the "five- star" culture and having "total disconnect" with the people.

Modi, who may be given a prominent role in national politics by the BJP later this month by inducting him into the parliamentary board of the party, said it is a very big challenge and a matter of concern that the UPA government is there at the Centre.

"There is no feeling of whether there is a government or not. It is not in the Congress character or in their blood to do something for the nation," he alleged.

Earlier, Modi began his speech by thanking BJP president Rajnath Singh for felicitating him yesterday and attributed his third consecutive victory in Gujarat Assembly elections to the guidance of the national party leadership, party workers and the people of his state.

"This is a victory of the BJP's ideology and of its political culture," he said.

Modi praised the performance of the BJP governments in Madhya Pradesh, Chhattisgarh and Goa.

"My experience in Gujarat has been that the country has decided to move ahead. People of the country have decided to throw out the Congress. Our only concern is to fill the places vacated by the Congress with the right people," Modi said.

He also asked the party workers to rise above leadership issues and work tirelessly to bring the BJP to power.

"We should go from here with the pledge that we will contribute all our might for the party. BJP and lotus, the symbol of the BJP, have the strength to save this nation. Who is the individual, who is the leader does not matter. The aim is important. We have no right to disappoint the people," Modi said.

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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 18,2020

New Delhi, Jun 18: India on Wednesday took strong exception to China claiming sovereignty over the Galwan Valley in eastern Ladakh, saying its "exaggerated and untenable claims" are contrary to the understanding reached on the issue between the two sides.

Ministry of External Affairs Spokesperson Anurag Srivastava's response came after China claimed that the Galwan Valley in eastern Ladakh is a part of its territory.

"As we have conveyed earlier today, External Affairs Minister and the State Councillor and Foreign Minister of China had a phone conversation on recent developments in Ladakh," Srivastava said late Wednesday night.

"Both sides have agreed that the overall situation should be handled in a responsible manner and that the understandings reached between Senior Commanders on 6th June should be implemented sincerely. Making exaggerated and untenable claims is contrary to this understanding," he said.

Earlier on Wednesday, India delivered a strong message to China that the "unprecedented" incident in the Galwan Valley will have a "serious impact" on the bilateral relationship and held the "pre-meditated" action by Chinese army directly responsible for the violence that left 20 Indian Army personnel dead.

In a telephonic conversation, External Affairs Minister Jaishankar conveyed to his Chinese counterpart Wang Wi India's protest in the "strongest terms" and said the Chinese side should reassess its actions and take corrective steps, the Ministry of External Affairs said.

The Chinese Foreign Ministry, in a statement, said the two sides agreed to "cool down the situation on the ground as soon as possible", and maintain peace and tranquillity in the border area in accordance with the agreement reached so far between the two countries.

The clash in Galwan Valley on Monday night is the biggest confrontation between the two militaries after their 1967 clashes in Nathu La in 1967 when India lost around 80 soldiers while over 300 Chinese army personnel were killed.

The India-China border dispute covers the 3,488-km-long LAC. China claims Arunachal Pradesh as part of southern Tibet, while India contests it.

Prior to the clashes, both sides have been asserting that pending the final resolution of the boundary issue, it is necessary to maintain peace and tranquillity in the border areas.

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Agencies
June 15,2020

New Delhi, Jun 15: After Two Indian officials working with Indian High Commission in Pakistan wet missing on Monday,  the Ministry of External Affairs summoned Pakistan's Charge d'affaires to India in the national capital and told them not to interrogate or harass Indian officials.

"Two Indian High Commission officials are missing since morning while on official work. The matter has been taken up with the Pakistani authorities," Akhilesh Singh, First Secretary and spokesperson, Indian High Commission, Pakistan, said.

According to sources quoted by PTI news agency, the MEA told the  Pakistan's Charge d'affaires to India that the responsibility of safety and security of Indian personnel in Islamabad "lays squarely with Pakistani authorities."

"Pakistan was asked to ensure return of two Indian officials along with official car to Indian High Commission in Islamabad immediately," sources added. 

The incident comes after two Pakistani officials at the Pakistani High Commission in New Delhi were accused of espionage and deported.

The two officials have been missing since Monday morning. Officials said the issue has been taken up with the Pakistan government.

Earlier, a vehicle of India's Charge d'affaires Gaurav Ahluwalia was chased by Inter-Services Intelligence (ISI) member.

In March, the Indian High Commission in Pakistan sent a strong protest note to the foreign ministry in Islamabad protesting against the continuing harassment of its officers and staff by Pakistani agencies.

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