PM-Sonia model of 'two power centres' a failure, Digvijaya Singh says

[email protected] (CD Network)
March 27, 2013

New Delhi, Mar 27: Congress leader Digvijaya Singh dubbed the experiment of "two power centres" in UPA as a failure and said Rahul Gandhi should not repeat Sonia Gandhi's decision to nominate a leader as prime minister.diggy

"Personally, I feel this model hasn't worked very well. Because, I personally feel there should not be two power centres and I think whoever is the PM must have the authority to function," the Congress general secretary said in a TV interview.

While Singh clarified that Sonia had never interfered in government functioning during the two UPA stints, his comment marked the first frank assessment of the split leadership of government and party post-2004.

The former Madhya Pradesh chief minister has often been a critic of the government's policies and his remarks can be seen as a less than flattering assessment of Prime Minister Manmohan Singh's stewardship.

The stinging analysis of the UPA experiment came in the context of Singh strongly rebuffing suggestions that Rahul was reluctant to take up the top job and a reiteration of the belief that the Congress president should also be the PM when the party is in power.

Media reports earlier this month quoted Rahul as telling party MPs that he did not want to become the PM and was instead keen on focusing on organizational revival.

While reinforcing apprehensions in some party quarters that he continued to be a reluctant leader despite his elevation at Jaipur, the statement was read by some to mean that he could repeat the experiment put in place by mother and Congress chief Sonia.

Singh denied the "I-will-not-be-PM" remark attributed to Rahul Gandhi. "Rahul said his priority was welfare of the people. Media assumed that he was saying becoming PM was not his priority," the AICC leader explained.

According to Singh, Rahul told him that his statement had been misrepresented.

The denial of the "not-be-PM" statement, read alongside the failure of "dual power centre", coming from the senior leader seen to be close to Rahul, indicates the heir-imminent would be willing to take up the top job if Congress leads a coalition to majority in 2014.

The statement apparently rebuffing the PM's post kicked off murmurs about the "next Manmohan Singh" in Congress, a reference to the leader who could be put in the hot chair if the Gandhi family did not claim it.

Congress insiders said the picture of a reluctant prince was not good for the party's health ahead of elections as it carried the risk of demotivating cadres and confusing voters. The Gandhi family is seen as the glue holding together diverse factions and ideological camps that crowd the organization from top to bottom.

Singh praised the leadership of 10, Janpath, to advocate that Rahul should step up to the plate when the time comes. "I think... I strongly feel that... when time comes and if the Congress gets majority or it is in a position to form the government, I think Rahul Gandhi should take the call," he said.

He said even in an unwieldy coalition, Rahul would be able to manage the intricacies of the coalition politics since he is "mature enough" and would have the assistance of senior party leaders.

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Agencies
May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

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JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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March 27,2020

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

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Agencies
August 3,2020

New Delhi, Aug 3: Afghanistan President Ashraf Ghani on Monday thanked Prime Minister Narendra Modi for the timely supply of food and medical assistance to meet the requirement in Afghanistan.

During their telephonic conversation, PM Modi also reiterated India's commitment to the people of Afghanistan in their quest for a peaceful, prosperous and inclusive Afghanistan, the Prime Minister's Office said in a statement on Monday.

The two leaders also exchanged views on the evolving security situation in the region and other areas of mutual bilateral interest.
Both leaders also exchanged greetings on Eid-Al-Adha. 

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