Omar hints at possibility of NC backing PDP

December 23, 2014

Srinagar, Dec 23: The outgoing Jammu and Kashmir Chief Minister Omar Abdullah today hinted at an intriguing possibility of supporting his party National Conference's (NC) bitter political rival PDP in forming a government in the state after the hung verdict in the Assembly polls.omar abdulla

Mufti Mohammed Sayeed's PDP has emerged as the single largest party with 28 seats, 16 short of a majority in the 87-member legislature. BJP got 25 seats and NC 17, including two Independents supported by it, followed by the Congress with 12 seats.

PDP's options are either to align with BJP or cobble together a government with the support of Congress and some independents. Support from NC has never been considered as an option by political observers.

Introducing a new element in the scenario, Omar told PTI that it was for PDP to approach him. "I don't rule out or rule in anything thereafter," he said.

Reminded that NC's support to PDP has never been envisaged, Omar said, "was Mr Nitish Kumar's coming together with Mr Lalu Prasad Yadav in Bihar ever thought of?"

He virtually ruled out any support to the BJP, saying that there was only one per cent likelihood of that. "I am leaving one per cent crack open."

Omar, however, maintained that he would not be approaching anyone. "But that does not stop anyone from approaching me," he said.

Putting the onus on PDP, BJP and Congress to cobble up a government, Omar said it was not for him to unilaterally extend support to any formation.

Asked about BJP Chief Amit Shah's remarks at a press conference that he was keeping all options open on government formation, Omar said he had not got any call from Shah.

Acknowledging that he was earlier today not sure of returning as an MLA, he said now he was going to sit back and leave it to other parties to form the new government.

There is only one road for the NC and that is upwards and "we have an important role to play in coming days."

Omar, however, said that he had expected the PDP to do much better.

The Chief Minister said the BJP had done well but had become victim of its own propaganda. "If before elections they had projected themselves to do better than the past, they would have been a relaxed lot today.

"However, their slogans like Mission 44 and Mission 52 only punctured their happiness," he said.

Earlier during his victory run at Beerwah, Omar said NC would play the role of a good and constructive opposition.

"NC is satisfied with its own performance. We went further than what people expected from us. Opinion polls were not giving us so many seats. And I feel that given the situation, if we get 17 seats, no one in the NC should feel bad.

"We are ready to play the role of a good and constructive opposition. And we will see later as to what will happen," Omar told reporters here.

Asked about Congress general secretary and Leader of Opposition in Rajya Sabha, Ghulam Nabi Azad’s reported offer of support to the PDP, Omar said the national party had time and again proved that there were no permanent friends or foes in politics.

"Congress has this quality that they time and again prove that in politics there can be no permanent friends or foes. Azad, perhaps would be ready to do everything to go to Rajya Sabha again and for that even if he has to fall at Mufti’s feet, he will," he said.

Commenting on the possibility of PDP allying with the BJP, Omar said, "I cannot say anything on that. It is for the PDP and the BJP to see".

The NC leader, who lost from Sonawar seat, said he had known that retaining all the eight seats in Srinagar would be difficult.

"I had known that Srinagar district would be difficult for us this time. We had all the eight seats and Sonawar was a constituency which we had won three times out of the last four and there was anti-incumbency against NC. And we had to bear the brunt of the destruction caused by the floods there."

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News Network
May 26,2020

Kasaragod, May 26: Amid relaxation of COVID-19 lockdown norms, Secondary School Leaving Certificate (SSLC) and vocational higher secondary education (VHSE) examinations resumed in Kerala on Tuesday.

Schools in the state maintained social distancing norms and other precautionary measures amid the examination. Hand sanitisers were also provided at the centres while wearing face masks was made mandatory for all students.

Students at VHSS Manacaud High School in Thiruvananthapuram were encouraged to follow social distancing norms while they also underwent thermal screening before entering the examination centre.

In Kerala, VHSE and SSLC exams began today. While VHSE is scheduled in the morning, the SSLC exam is held in the afternoon session.

Senior secondary exams are scheduled to begin in the state from May 27.

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Agencies
July 29,2020

New Delhi, Jul 29: The new National Education Policy (NEP) approved by the Union Cabinet on Wednesday is set to usher in a slew of changes with the vision of creating an education system that contributes directly to transforming the country, providing high-quality education to all, and making India a global knowledge superpower.

The draft of the NEP by a panel headed by former Indian Space Research Organisation (ISRO) chief Kasturirangan and submitted to the Union Human Resource Development Minister Ramesh Pokhriyal when he took charge last year. The new NEP replaces the one formulated in 1986.

Some of the key highlights of the New Education Policy are:-

The policy aims to enable an individual to study one or more specialized areas of interest at a deep level, and also develop character, scientific temper, creativity, spirit of service, and 21st century capabilities across a range of disciplines including sciences, social sciences, arts, humanities, among others.

It identified the major problems facing the higher education system in the country and suggested changes such as moving towards multidisciplinary universities and colleges, with more institutions across India that offer medium of instruction in local/Indian languages, a more multidisciplinary undergraduate education, among others. 

The governance of such institutions by independent boards having academic and administrative autonomy has also been suggested.

Under the suggestions for institutional restructuring and consolidation, it has suggested that by 2040, all higher education institutions (HEIs) shall aim to become multidisciplinary institutions, each of which will aim to have 3,000 or more students, and by 2030 each or near every district in the country there will be at least one HEI.

The aim will be to increase the Gross Enrolment Ratio in HEIs including vocational education from 26.3 per cent (2018) to 50 per cent by 2035.

Single-stream HEIs will be phased out over time, and all will move towards becoming vibrant multidisciplinary institutions or parts of vibrant multidisciplinary HEI clusters.

It also pushes for more holistic and multidisciplinary education to be provided to the students.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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