Not averse to Mamata as Oppn PM face: Deve Gowda

Agencies
August 5, 2018

New Delhi, Aug 5: Pitching for a "formidable front" against the BJP, former prime minister and JD(S) supremo H D Deve Gowda has said he is not averse to projecting TMC chief and West Bengal Chief Minister Mamata Banerjee as the Opposition's prime ministerial face for the 2019 Lok Sabha polls.

The remark by Gowda, 85, comes against the backdrop of reports that the Congress and other opposition parties favour leaving the issue of a prime ministerial candidate for the post-election phase as they feel that opposition unity could be hurt if the subject is taken up ahead of the polls.

The remark also comes days after top Congress sources indicated that the party will not mind a nominee for the top post from any Opposition alliance which does not have the backing of the Bharatiya Janata Party (BJP) and the Rashtriya Swayamsevak Sangh (RSS).

Gowda, whose party has formed a coalition government in Karnataka with the support of the Congress, said the Congress will play a crucial role in forging opposition unity in the bid by the alliance to dislodge the BJP from power.

In an interview to PTI in Delhi over the weekend, the former prime minister noted while the formation of a third front is still in the "early stage" Banerjee is "trying her best" to bring all the non-BJP parties together. Gowda headed the Janata Dal-led United Front(UF) coalition government in 1996 but his tenure did not last more than a year.

Banerjee is pursuing the task of the formation of a federal front seriously after the draft National Register of Citizens (NRC) in Assam that excluded 40 lakh people from the list in the eastern state, he said.

Banerjee is a bitter critic of the NRC and has pilloried the BJP over the citizenship issue. She is also seeking the support of other opposition parties to take on the ruling party. The BJP has stoutly defended the Supreme Court-mandated exercise, saying it concerned national security and safety of the country's citizens.

Asked if he would support the TMC chief as the prime ministerial face of the opposition, Gowda said: "Most welcome if Mamata is projected as PM. Indira Gandhi ruled as prime minister for 17 years. Why should we (men) alone become PM? Why not Mamata or Mayawati?"

Indicating he is not opposed to a woman prime minister, Gowda said he had piloted the women's reservation bill in Parliament way back in 1996.

Noting that the JD(S) has not made any effort to unify regional parties so far, he, however, said the regional party is prepared to cooperate with other parties to fight the BJP.

"It is because there is a sense of fear in the country. There is a suffocating atmosphere for minorities in states like Uttar Pradesh, Bihar and Gujarat. A formidable front is necessary to take on the BJP in 2019," he noted.

Observing that the clamour for a political alternative to BJP will gradually gain momentum, Gowda stressed that the Congress as a national party will also play a crucial role.

"I want to see how things will shape up in the next 2-3 months," he added.

Gowda also mentioned that the Congress and his party will fight together in Karnataka during 2019 general polls. However, the issue of seat sharing has not been discussed yet, he said. Karnataka accounts for 28 Lok Sabha seats.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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Agencies
June 29,2020

New Delhi, Jun 29: Fuel prices rose on Monday again after a days pause with oil marketing companies increasing the pump price of petrol by 5 paisa and diesel by 13 paisa per litre in Delhi.

In the national capital, petrol price on Monday stood at Rs 80.43 per litre while that of diesel at Rs 80.53 a litre.

With this increase, fuel prices have moved up on 22 of the last 23 days (with no rise on Sunday). Petrol prices, however, were unchanged for an additional day in between after the daily revision based on dynamic pricing was reinstated by OMCs.

Since the daily price revision resumed on June 7, petrol price has increased Rs 9.17 and diesel rose by Rs 11.14 in the national capital. In the other cities the magnitude of increase was similar.

During the past 23 days, the quantum of price hike gradually declined from around 60 paise raise for a few days, immediately post the resumption of daily price revision, to less than 20 paise during the past few days and now even less than 10 paisa per litre.

In a historic development, the price of diesel surged above that of petrol in the national capital during this period. It continues to remain higher even though on Saturday the quantum of petrol price hike was higher than that of diesel.

Officials in oil marketing companies said that it is hard to predict which of the two fuels will be priced higher in the Capital as the gap between the two is almost negligible. But petrol prices have shown more volatility in international markets that may take it ahead once again in coming days.

Apart from Delhi, the retail prices of petrol and diesel have followed the traditional path in other metros with petrol being priced at a premium of between Rs 5 and 8 per litre. The difference between the auto fuel prices in Delhi and other metros is because of the taxation structure.

While both petrol and diesel are at similar levels of taxes (state and centre) in Delhi, it is higher for petrol in many other Indian cities.

Globally diesel is priced a tad higher than petrol. In India too, the base price of diesel is slightly higher than petrol but taxation at central and state levels changed the complexion of retail prices.

If the price of petroleum products and crude hold their positions in global markets, then petrol and diesel prices rise may stop for a longer period and we may even see marginal fall in prices.

Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 82 days during the lockdown.

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News Network
June 3,2020

Jun 3: Emphasising that airlines are clearly the safest mode of transportation, IndiGo CEO Ronojoy Dutta on Tuesday said there is no evidence yet of coronavirus infection getting transmitted among passengers onboard an aeroplane.

His comments against the backdrop of instances of some passengers, who had taken flights after resumption of domestic air services on May 25, testing positive for coronavirus.

"Those people had the virus before they got on to the aeroplane. What is noteworthy is that they have done the tracing after that. There is no evidence of transmission onboard there... that is a very encouraging sign on the safety of airline travel," he said during an earnings call.

According to him, airlines are clearly the safest mode of transportation and there is no evidence yet of contamination on an aircraft.

"You can come in contaminated but so far there is no evidence of passing it on to a fellow passenger," he noted.

Amid concerns over the coronavirus pandemic, aviation regulator DGCA has asked airlines to ensure that to the extent possible, middle seat in flights should be kept empty.

In this regard, Dutta said the airline would keep the middle seat empty wherever it can and "where we have to fill the middle seat, we will have the extra protective gown".

To a query about possible hedging of fuel prices, he said it would be a dumb idea and that airlines adjust to ups and downs in fuel prices.

"I can't overemphasise what a dumb idea it will be for an airline to hedge fuel prices. I looked at it from different angles and it is not a good idea... we looked at hedging and we talked about it at the board level and we said no," he noted.

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