Note ban just a short-term pain; more 'reforms' ahead: Modi

December 24, 2016

Patalganga, Dec 24: Prime Minister Narendra Modi today hinted at unleashing more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest and admitted the note ban caused "short-term pain".

pmInaugurating a new educational and training campus of the Sebi-run National Institute of Securities Markets (NISM) in this industrial township near Mumbai, Modi said "the government will unveil more long-term policies that are stable and sound" so as to sustain the higher economic growth rate.

"Our government will continue to follow sound and prudent economic policies and we will not take decisions for short-term political point scoring."

Admitting that the demonetisation drive has caused some "short-term pains" to the public, Modi said this "will bring in benefits in the long-term".

Despite the lingering disagreements between the Centre and the states over the dual control of the GST mechanism, Modi expressed hope that the biggest tax reform the nation has seen till date will be a reality shortly.

Claiming he has transformed the economy since assuming office over 30 months ago, the PM said when he took over the economy was in dire straits with high current account and fiscal deficits, near-double digit inflation and low forex reserves.

In spite of all difficulties, he said his government has improved these key metrics massively since assuming office in May 2014 and today the country is a bright spot in otherwise a gloomy global environment.

Even as the whole world is fighting a prolonged slowdown, "India is being seen as a bright spot with growth projected to be highest amongst the large economies", he said.

Modi said advancing budget presentation will help improve productivity by ensuring adequate resources to all productive sectors of the economy.

Lauding Sebi for facilitating a large number of IPOs this year and helping the capital markets to grow, he said the financial markets are very important for a fast-growing economy.

He underlined the need for developing a robust corporate bond markets so that banks funds can be utilised for other less organised sectors.

Modi asked market watchdog Sebi and Finance Ministry to enable municipalities to tap markets. Stock markets should help in raising capital for productive purposes while the bond market could become a source of long-term infra finance.

The event was attended by Union Finance Minister Arun Jaitley, Maharashtra Governor Vidyasagar Rao, state Chief Minister Devendra Fadnavis, Sebi Chairman U K Sinha and many other officials and senior bankers.

Comments

Fairman
 - 
Saturday, 24 Dec 2016

Dammaya
No need any surprises
Citizens have no more strength to face your crazy adventures.

If you don't have work or boring for God sake please go tour to any country.
If all countries already finished go to Gujrat. Take leave.you need rest

You are very tired of doing crazy chamatkars

Skazi
 - 
Saturday, 24 Dec 2016

low forex reserves ???????????????????????????????????......Blatant lier.....let him quote the figures of Forex reserve now and old .....

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Agencies
July 2,2020

Mumbai, Jul 2: The Shiv Sena on Thursday termed the ban on 59 Chinese apps by the Indian government as a "digital strike" and asked if these apps were a threat to the national security, how did they operate for so many years.

An editorial in Sena mouthpiece 'Saamana' sought to know when did the Centre realise these apps were a threat to the national security.

By banning the Chinese apps, Prime Minister Narendra Modi protected the interests of Indian internet users and his courage has be lauded, the Marathi publication said.

India on Monday banned 59 apps with Chinese links, including TikTok, UC Browser, SHAREit and WeChat, saying they were prejudicial to sovereignty, integrity and security of the country.

"If these apps were a threat to national security, how is it that these apps were functioning without any hurdles for so many years. If the opposition says the government neglected national security,then what will the Centre's stand be?" the Shiv Sena asked.

It said questions should be raised on all the previous governments for "allowing national data to go out of the country".

China has expressed displeasure over the Indian government's decision, the Marathi daily said, adding that Chinese soldiers are "still not ready to leave the Galwan Valley (in Ladakh)".

The Sena said it took the sacrifices of 20 soldiers for the government to realise Indian data was being illegally taken out of the country.

"The government took revenge by a digital strike," it stated.

There have been complaints earlier that users' data on Chinese apps was illegally sent out of the country, and apps like TikTok were "promoting vulgarity", it said.

"Many TikTok stars had reportedly joined the BJP," the Sena claimed. "What will happen to them?" it asked.

There is a need to break China economically, but that will not happen by banning its apps. The issue is about trade and investment between the two countries, it said.

"The largest Chinese investment is in Gujarat.

Chinese company Huawei has got the contract to set up 5G network in India. This company having keys to India's digital economy is akin to the Chinese Communist Party owning the Indian economy in future," it said.

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News Network
February 28,2020

New Delhi, Feb 28: The months of March, April and May are "likely to be warmer than normal" over northwest, west, central and parts of south India, the India Meteorological Department said today in its summer forecast.

Above normal heat wave conditions are also likely in the core heat wave (HW) zone during the season (March-May), the weather department said.

The core heat wave zone covers the states of Punjab, Himachal Pradesh, Delhi, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh Gujarat, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, West Bengal, Odisha and Telangana and parts of Maharashtra and coastal Andhra Pradesh.

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News Network
March 26,2020

Mar 26: As Kashmir reported its first COVID-19 death on Thursday, Islamic scholars urged people to follow the Ministry of Home Affairs guidelines on funeral and burial of those who die due to coronavirus pandemic.

“Medical science can’t be ignored and whatever directions there are in the (MHA) guidelines should be followed. As far as the funeral of the person, only family members should participate in the funeral and burial after wearing the protection kits,” the scholars said.

The MHA has stressed that there should be no bathing, kissing, hugging and reciting of verses while the body should be transported in a secured bag. Health experts have stressed that the grave for the person should be dug eight feet deep instead of normal six feet.

“The body of the person should be transported in a secured bag and the vehicle in which he is transported has to be decontaminated by the trained staff who should be wearing N-95 masks and protection equipment,” read the MHA guidelines.

Kashmir witnessed the first death of a COVID-19 patient from uptown city Hyderpora, who had a travel history of outside J&K as he was part of a ‘Tableegi Jamaat’.

Dr Naveed, Head of Department, at Chest Diseases Hospital Srinagar, said that no one from the family should go closer to the body and if someone from the family wants to see the face, he/she has to wear a complete protective gear.

“Burial bath is not recommended for the body. Grave for him should be dug eight feet deep instead of normal six feet,” he said.

As far as funeral prayers, he said, those intending to offer funeral should wear protective gear and maintain sufficient distance between the body and people.

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