Opposition slams government on price rise

July 9, 2014

Arun JaitleyNew Delhi, Jul 9: Government on Wednesday came under scathing attack from the opposition on the issue of price rise with members taking a dig at BJP, wondering where the “achche din” (good days), promised by Prime Minister Narendra Modi, have gone.

In a discussion on price rise, they expressed concern over rising prices of essential commodities and asked the government to act against hoarders to contain inflation.

Initiating a discussion in Lok Sabha, Congress leader Amarinder Singh also demanded a complete ban on onion export to control its soaring prices.

The discussion under a rule that does not entail voting was taken up after Speaker Sumitra Mahajan rejected the opposition notices on an adjournment motion on the issue and said she was ready to have a general discussion.

He asked “where is the achche din” promised by BJP during election campaign and slammed Finance Minister Arun Jaitley’s statement that food prices are under control and there is no need to panic.

Mr. Singh said the farmers who produce vegetables including potatoes, onion and tomatoes were selling their produce at low price and hoarders and middlemen were responsible for shooting up of prices such essential commodities.

“There has been a 250 per cent increase in the prices of onion, tomatoes and potatoes. Have you taken any step against middlemen? ...Tackle hoarding to control prices in the short run. I hope the government will take action against hoarders,” he said.

BJP hit back, with its member Anurag Thakur saying the price rise being witnessed currently was a result of policies of the previous Congress-led government.

He said prices of essential commodities were being kept under check by Narendra Modi government in total contrast to Manmohan Singh government when prices of food items rose manifold.

The CPI(M) member P. Karunakaran, interestingly, criticised Congress for raising the issue of price rise, saying its government did not take any “concrete” action to control inflation during its 10-year rule.

“Why did not you take steps in 10 years. You were not ready to take any concrete step to control price rise. You were not ready to listen,” he told Congress members who were attacking the Narendra Modi government over the issue.

The MP from Kerala reminded the government that it had come to power raising the issue of price rise and said Modi should show sincerity in fulfilling election promises and look after the interests of the poor.

He referred to 6.5 per cent recent hike in freight rates, saying such steps have a cascading effect and finally lead to increase in the prices of essential commodities.

“I want to know whether you have political will to reduce excise duty, reduce VAT and change tax structure as promised during the last Lok Sabha elections,” he said, a day ahead of the presentation of the General Budget.

Drawing attention towards the rising prices of onion, Amarinder Singh, Congress Deputy Leader in the Lok Sabha, said government was still exporting the vegetable and demanded its complete ban.

The former Punjab Chief Minister said the prices have been going up since the Modi government took over.

Citing the continuous rise in prices of petrol and diesel, Singh said this was also one of the main reasons for the rising prices of food articles.

”...Anything that is transported...the prices will automatically go up...What about the promises you have made to the people (during election campaign),” he asked.

He said that it was not only vegetables, prices of wheat and rice were also going up.

Amarinder Singh said the government should come up with a price support mechanism for the benefit of farming community.

He termed as “ridiculous” Finance Minister Arun Jaitley’s recent statement that there is no need to panic, contending that all sections including daily wage earners, salaried class and 400 million people living Below Poverty Line were worried over price rise.

Mr. Singh also expressed concern over reports of NDA government planning to do away with pro-poor measures brought by the previous UPA government including MNREGA and Food Security Act.

Mr. Thakur said Congress should not talk about price rise as it did nothing to control inflation during the 10 years when it was in power.

“When they (Congress) talk about price, it is a self-goal. It is really painful to hear you talking on price rise. If someone is responsible for price rise, it is you (Congress),” the BJP leader said.

“What did we get as a legacy of the UPA government? We got empty coffers,” he said.

Thakur said during the 10 years rule of UPA, Parliament had discussed the issue of price rise 17 times, while during the six years rule of Atal Bihar Vajpayee led NDA, there was just one discussion on price rise.

“Despite having an economist Prime Minister, you could not change the economic situation of the country. You have changed the Finance Minister several times, but you could not change the economy,” he said.

Apparently taking a dig at Amarinder Singh without taking his name, Mr. Thakur said it was heartening to hear “maharajas” talk about “daal, roti”. Mr. Singh is the erstwhile maharaja of Patiala in Punjab.

This invited strong protest by Leader of Congress Mallikarjun Kharge, who said Mr. Thakur was making personal attack on Singh while he should be talking on policies.

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News Network
May 5,2020

Kochi, May 5: India has sent three naval ships to evacuate its citizens stranded in the Maldives and UAE due to the COVID-19 pandemic, a defence spokesperson said in the early hours on Tuesday.

INS Jalashwa deployed off Mumbai coast, along with INS Magar, diverted for Maldives on Monday night, he said.

While INS Shardul diverted to Dubai to evacuate the expatriates, the spokesperson added.

The three ships will return to Kochi, he said.

INS Magar and INS Shardul are Southern Naval Command ships, while INS Jalashwa is from Eastern Naval Command.

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News Network
May 24,2020

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

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News Network
April 3,2020

New Delhi, April 3: The Government on Thursday launched a mobile app developed in public-private partnership as part of efforts to contain the spread of coronavirus.

"The app, called 'AarogyaSetu' will enable people to assess themselves the risk for their catching the coronavirus infection," an official release said.

It said that the app will calculate this based on their interaction with others, using cutting edge Bluetooth technology, algorithms and artificial intelligence.

"Once installed in a smartphone through an easy and user-friendly process, the app detects other devices with AarogyaSetu installed that come in the proximity of that phone. The app can then calculate the risk of infection based on sophisticated parameters," the release said.

It said that the app will help the government take necessary timely steps for assessing risk of spread of COVID-19 infection and ensuring isolation where required.

"The app's design ensures privacy. The personal data collected by the app is encrypted using state-of-the-art technology and stays secure on the phone till it is needed for facilitating medical intervention," the release said.

It said the app is available in 11 languages and has highly scalable architecture.

"This app is a unique example of the nation's young talent coming together and pooling resources and efforts to respond to a global crisis. It is at once a bridge between public and private sectors, digital technology and health services delivery," the release said.

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