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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News Network
February 27,2020

New Delhi, Feb 27: Congress leader Priyanka Gandhi Vadra on Thursday attacked the government over the transfer of Delhi High Court Judge S Muralidhar, saying the Centre's attempts to "muzzle" justice and "break people's faith in an upright judiciary are deplorable".

Delhi HC Judge S Muralidhar was transferred to the Punjab and Haryana High Court, days after the Supreme Court collegium made the recommendation.

"The midnight transfer of Justice Muralidhar isn't shocking given the current dispensation, but it is certainly sad & shameful," Priyanka Gandhi tweeted. "Millions of Indians have faith in a resilient & upright judiciary, the government’s attempts to muzzle justice & break their faith are deplorable," she said.

The judge was hearing the Delhi violence case and the late evening notification came on the day when a bench headed by him expressed "anguish" over the Delhi Police's failure to register FIRs against alleged hate speeches by three BJP leaders.

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News Network
March 26,2020

Srinagar, Mar 25: A 65-year-old man hailing from Hyderpora area of the city died on Thursday, becoming the first fatality in Jammu and Kashmir due to coronavirus.
"As we share the sad news of our first #Covid19 fatality, my heart goes out to the family of the deceased. We stand with you and share your grief," Mayor of Srinagar Junaid Azim Mattu tweeted.
Government spokesperson Rohit Kansal also confirmed the death via Twitter.
"First death due to Coronavirus- 65 years old Male from Hyderpora Srinagar. Four of his contacts also tested positive yesterday," Kansal said.
Four people had tested positive for coronavirus in J-K on Wednesday, taking the total number of cases to 11.
Authorities in Kashmir have expressed apprehensions that the cases could be more than reported in the Valley as a significant number of people appeared to have concealed their travel history.
As per a government bulletin on Wednesday in Jammu and Kashmir, as many as 5,124 travellers and people who came in contact with suspected and positive cases have been put under surveillance.

Among them 3,061 are in home quarantine (including facilities operated by the government), 80 in hospital quarantine and 1,477 in home surveillance.
Restrictions on movement imposed in Kashmir to prevent the spread of coronavirus were tightened on Wednesday.

 

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News Network
May 29,2020

New Delhi, May 29: With the highest spike of 7,466 more COVID-19 cases and 175 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,65,799 on Friday, according to the Union Ministry of Health and Family Welfare.

The number of active coronavirus cases stands at 89,987 while 71,105 people have been cured or recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,706 in the country.

Maharashtra is the worst affected state with 59,546 cases. Tamil Nadu has recorded as many as 19,372 cases while Gujarat and Delhi have recorded 15,562 and 16,281 coronavirus cases respectively.

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