Government rebuffs Goldman Sachs' 'Modi-fy' report, says it's objectionable

November 9, 2013

Goldman_SachsNew Delhi, Nov 9: Global investment banker Goldman Sachs on Friday came under attack from government and the Congress over upgrading Indian markets on a likely Narendra Modi's election win but the US-based firm stood by its report.

In its justification, Goldman Sachs said the report was prepared on the basis of investor sentiments and does not reflect political bias.

Irked by the report, which suggested a victory of Modi-led BJP in the next year's general elections, Commerce and Industry Minister Anand Sharma said it is 'most inappropriate and objectionable'.

The 18-page report titled 'Modi-fying our View: Raise India to Marketweight' also described the BJP's Prime Ministerial candidate as more business-friendly.

Sharma retorted saying India's growth story is intact.

"We don't need these kinds of daily certification or assurances. We are a self confident nation ... We surely would not be entertaining prescriptive approaches or prescriptions from those who are totally disconnected.... Do we tell other countries that what their voters should decide. Respect democracy and respect the country," he said.

Congress General Secretary Digvijaya Singh added his bit saying investment bankers should stick to what they specialise in - economy - and not indulge in political speculation.

"It is for the people of the country who will decide (about electing a new government) not these agencies. They should confine themselves to economy," he said.

In its report earlier this week, Goldman Sachs had upgraded India's rating to marketweight from underweight and equity investors view Modi as an "agent of change".

"Currently, the macro challenges that India faces in terms of external and fiscal imbalances, high inflation and tight monetary policy are being dominated by expectations of political change," it had said.

In a statement on Friday, Goldman Sachs said its report contained "no political bias nor any political opinion by Goldman Sachs or its analysts."

"It simply notes that investor sentiment is being influenced by party politics. We stand by that assertion and by our research".

Talking to reporters in Mumbai, Goldman Sachs India CEO Bunty Bohra said: "Research is independent, and it is not like it is my view. It is the research department independently saying what is going to happen."

Meanwhile, the US-based rating agency Standard & Poor's on Thursday said it would take a call on revising India's sovereign rating after looking into the economic policies of the next government.

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Agencies
February 16,2020

New Delhi, Feb 16: Despite the fact that Aam Aadmi Party (AAP) managed to clean sweep in the recently-concluded 2020 Delhi Assembly polls with eight women candidates winning, Chief Minister Arvind Kejriwal's new cabinet does not have a single woman.

This, even as eight AAP women candidates -- Atishi Marlena, Rakhi Birla, Raj Kumari Dhillon, Preeti Tomar, Dhanwati Chandela, Parmila Tokas, Bhavna Gaur and Bandana Kumari emerged victorious in the 2020 Assembly polls.

Also, AAP's poll campaign had put the spotlight on women's issues- free bus rides for women, safety etc.

This year, AAP had fielded nine female candidates out of which only woman candidate Sarita Singh from Rohtas Nagar suffered defeat. In 2015, the party had fielded six women candidates, all of whom won the election.

Atishi Marlena, who won the election from Kalkaji, has served as a key advisor to the AAP leader Manish Sisodia primarily on education policies that transformed public school education in the capital.

Just like Marlena, incumbent MLA Rakhi Birla from Mangolpuri constituency has also failed to comeback to the Cabinet in this term even after bagging over 74,100 votes, with a margin of over 30,000 votes and 58 per cent of the vote share.

She was charged with the Cabinet Ministry of Women and Child, Social Welfare and Languages, for a few months in AAP's first term from 2013 to 2014. During this, period she came to the spotlight as she became the youngest ever cabinet minister of Delhi at the age of 26 and was even called "giant killer" for defeating four-time Congress MLA Raj Kumar Chouhan in 2013 Delhi polls.

Another candidate of AAP, Raj Kumari Dhillon swept Hari Nagar against BJP's Tajinder Pal Singh Bagga by a margin of over 20,100 votes.

Apart from these three, Preeti Tomar (Tri Nagar), Dhanwati Chandela (Rajouri Nagar), Pramila Tokas (RK Puram), Bhavna Gaur (Palam), and Bandana Kumari (Shalimar Bagh)- the other five who won for AAP- do not figure in the new cabinet.

Today at Ramlila Maidan, AAP national convenor Arvind Kejriwal was sworn-in as Chief Minister of Delhi.

Besides him, Manish Sisodia, Satyender Jain, Gopal Rai, Kailash Gehlot, Imran Hussain, and Rajendra Gautamas took oath as the ministers in Delhi.

AAP achieved a landslide victory in the Assembly elections with a clear majority of 62 seats out of 70. 

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News Network
July 10,2020

New Delhi, Jul 10: Nepal has banned all Indian news channels, except DD News, for alleged propaganda against the country.

Reports say that Nepal cable operators have stopped getting signals of Indian news channels.

Nepal government spokesperson Yuvaraj Khatiwada said: "We request all not to disseminate news that infringes sovereignty and self-respect of Nepalis. This includes the media of neighbouring countries. We might seek both political and legal remedies."

Earlier, Nepal has amended its map which show some Indian territory as part of it.

Nepal's parliament on June 13 adopted unanimously the Constitution Amendment Bill, paving the way for accommodating the updated political-administrative map, which includes Indian areas of Kalapani, Lipulekh and Limpiyadhura, in its symbol.

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Agencies
June 11,2020

New Delhi, Jun 11: India on Thursday rejected a US government report that voiced concerns over alleged attacks and discrimination against religious and ethnic minorities in the country.

"Our principled position remains that we see no locus standi for a foreign entity to pronounce on the state of our citizens' constitutionally protected rights," Spokesperson in the Ministry of External Affairs Anurag Srivastava said.

He was replying to a question on the report at an online media briefing.

Mandated by the US Congress, the '2019 International Religious Freedom Report' that documents major instances of violation of religious freedom across the world was released by Secretary of State Mike Pompeo on Wednesday.

"India's vibrant democratic traditions and practices are evident to the world. The people and government of India are proud of our country's democratic traditions," the spokesperson said.

"We have a robust public discourse in India and constitutionally mandated institutions that guarantee protection of religious freedom and rule of law," he added.

The India section of the report said that US government officials underscored the importance of respecting religious freedom and promoting tolerance and mutual respect throughout the year with the ruling and opposition parties, civil society and religious freedom activists, and religious leaders belonging to various faith communities.

The report referred to the revocation of the special status of Jammu and Kashmir last August and the passage of the Citizenship Amendment Act (CAA) in Parliament in December as major highlights for India last year.

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