Parl approves bill to settle 41-year-old border issue with Bangladesh

May 7, 2015

New Delhi, May 7: Settling the country's 41-year-old border issue with Bangladesh, Parliament today unanimously passed a historic bill to operationalise the Land Boundary Agreement that provides for exchange of territories.Parleament

The Lower House, showing rare unanimity, passed the Constitution (119th Amendment) Bill to allow the operationalisation of the 1974 India-Bangladesh Land Boundary agreement.

All the 331 members present in the House voted for the bill which became the 100th Constitutional amendment passed by Parliament.

Soon after the passage, Prime Minister Narendra Modi walked up to the Opposition benches to thank leaders including Congress chief Sonia Gandhi and Mallikarjun Kharge, BJD's B Mahtab, TMC's Sudip Bandopadhyay and AIADMK leader P Venugopal.

Earlier, External Affairs Minister Sushma Swaraj said it was beneficial for both the countries and that there will a "notional" loss of territory without borders getting contracted.

India will get 510 acres while Bangladesh will get 10,000 acres. "But these are notional figures as these areas are deep inside territories of the two countries. Our borders are not getting contracted," she said, while responding to members' questions whether India will lose some territory.

Swaraj said the measure, apart from demarcating the boundaries, would also help checking illegal immigration.

"A solution to the problem of illegal immigration is inherent in this legislation. With the land border now being decided (with the passage of the bill), the portions where there is no fencing will also get fenced," she said.

Swaraj said the only issue which remained to be settled with Bangladesh was that of river water-sharing, primarily relating to Teesta river. "The way in which we are now settling the land boundary issue, we will try to settle this issue also."

The maritime boundary between India and Bangladesh has also been settled last year with the award by the international tribunal.

Refuting allegations about India's alleged 'big brotherly' attitude, the External Affairs Minister said "one is 'big brother' which symbolises arrogance. But there is also the 'elder brother' who is caring. Ours is a caring attitude. India will maintain the attitude of the 'elder brother' with our neighbours."

She also announced a package of Rs 3,008 crore to West Bengal for rehabilitation Indian nationals who will come from Bangladesh, with their numbers estimated to go up to 30,000.

Of this amount, Rs 775 crore is for expenses on fixed infrastructure and the remaining amount would be for variable expenses, depending upon how many people are to be rehabilitated by the state government.

Swaraj, in her speech, also referred to the Indira Gandhi-Mujibur Rahman Land Boundary Agreement of 1974 and the historic protocol signed between former Prime Minister Manmohan Singh and Bangladesh President Sheikh Hasina in September 2011 paving the way for elimination of Bangladeshi and Indian territorial enclaves.

Observing that she has been "transparent" in stating that her party BJP was earlier opposed to the bill, the Minister said it was primarily because of concerns that Assam's interests would be adveresely affected.

However, she said Assam Chief Minister Tarun Gogoi, who had earlier expressed some reservations on similar lines, wrote to the Prime Minister and her, urging the Centre to include the clauses relating to the state.

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News Network
July 16,2020

New Delhi, Jul 16: With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.

Having cut its key lending rate by an aggressive 115 basis points (bps) in 2020, on top of 135 bps cuts in 2019, the RBI so far has had little success in spurring credit growth amid varying degrees of lockdowns across India.

Some economists and market insiders argue it may be prudent for the MPC, the policy committee, to hold its fire when it meets early next month.

"It's probably too early to administer a demand stimulus. The RBI still has room to cut rates, but we probably want to be more cautious of the timing," said Venkat Pasupuleti, portfolio manager at Dalton Investments.

"Maybe they should wait a quarter to see how things pan out once the lockdown situation is eased further."

Market participants have factored in at least a 25 bps rate cut by the MPC on August 6 while analysts are predicting a total 50-75 bps cuts over the rest of the fiscal year that runs to March 31.

The spike in the retail inflation rate above the RBI's mandated 2%-4% target range is another reason for the central bank to take a breather, analysts say.

Annual retail inflation rose to 6.09% in June, compared to 5.84% in March and sharply above a 5.30% median forecast in a Reuters poll of economists.

Rahul Bajoria, an economist at Barclays, said the spike in both consumer and wholesale prices "could lead to a tempering in enthusiasm for material front-loaded policy support from here on."

Almost all economists however agreed the RBI cannot move away from its accommodative stance or call an end to the rate cutting cycle just yet.

India's economy grew at 3.1% in the March quarter - an eight year low - and some economists have predicted a contraction of more than 20% in the June quarter and a contraction of up to 5% in the fiscal year.

"Even in the event of a pause, we think the RBI and MPC would want to hold out the promise of more cuts," said A. Prasanna, economist with ICICI Securities.

RBI Governor Shaktikanta Das said in a recent speech the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, suggesting inflation concerns are unlikely to deter the downward trajectory for rates too soon.

"The August policy decision would boil down to a judgment call over whether RBI can maintain easy monetary and financial conditions without the aid of a token rate cut," Prasanna said. 

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News Network
March 11,2020

Mar 11: In a bid to keep its flock together, the crisis-hit Madhya Pradesh Congress has decided to shift its 92 MLAs either to Jaipur or some other place.

The move comes after 22 Congress MLAs loyal to former Union minister Jyotiraditya Scindia resigned on Tuesday, pushing the 15-month-old Kamal Nath government to the brink of collapse.

"We are going to take our 92 MLAs and those supporting our Madhya Pradesh government to a hotel," a senior Congress leader said on Wednesday.

The legislators would be taken either to Jaipur or some other Congress-ruled state like Chhattisgarh, a party source said.

Apart from its own MLAs, the Congress is also keeping a close watch on four Independents who are supporting the party-led state government.

On Tuesday, 22 Congress MLAs from Madhya Pradesh resigned soon after Scindia quit the party.

The development reduced the Congress government in the state to minority.

The state Congress unit is now making all efforts to save the Kamal Nath-led government.

The BJP on Tuesday night shifted its MLAs to Manesar at Gurugram in Haryana, sources in the saffron party said.

The Congress, whose tally before the rebellion was 114, has a wafer-thin majority in the Madhya Pradesh Assembly whose current effective strength is 228.

It also has the support of four Independents, two BSP legislators and one SP MLA, but some of them are now likely to switch sides to the BJP.

The BJP has 107 seats in the state Assembly.

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News Network
February 17,2020

New Delhi, Feb 17: Two alleged criminals were killed in an exchange of fire with the Special Cell of Delhi Police at Pul Pehlad Pur area in New Delhi on Monday morning, officials said.

The encounter took place around 5 am, they said.

Raja Qureshi and Ramesh Bahadur, who were injured during the encounter, were rushed to a nearby hospital, where they were declared brought dead by doctors, Deputy Commissioner of Police (Special Cell) P S Kushwah said.

According to police, the two men were involved in multiple cases of murder and robbery.

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