Petrol price cut: Jaitley questions commitment of Rahul Gandhi, his allies

Agencies
October 6, 2018

New Delhi, Oct 6: With non-BJP ruled states refusing to cut taxes on fuel, Finance Minister Arun Jaitley Saturday questioned Congress President Rahul Gandhi and his "reluctant allies" if they are only committed to tweets and television bytes when it comes to giving relief to the common man.

In a Facebook post titled 'The oil prices and the hypocrisy of the opposition', Jaitley accused the government critics of doing a 'volte face' by terming the cut in petrol and diesel prices by Rs 2.5 per litre by the Centre as 'bad economics'.

He said states collect extra taxes when oil prices go up since their taxes are ad valorem.

"Yet we have a situation where a number of non-BJP non-NDA States have refused to pass on any benefit to the consumer. What are the people supposed to conclude?

"Are Rahul Gandhi and his reluctant allies only committed to tweets and television bytes when it comes to give relief to the common man?" Jaitley said.

He said the challenges thrown up by the increase in the international price of crude oil is serious and cannot be resolved by either the tweets or television bytes of some opposition leaders.

"Must not the non-BJP States be candid with the people and tell them that both in 2017 and 2018 they refused to give any relief to the people even from their higher revenues. They sent out tweets and gave television bytes but when it came to performance, they looked the other way, Jaitley said.

The government had on Thursday announced a Rs 2.5 per litre cut in petrol and diesel prices, of which Rs 1.5 per litre is on account of reduction in excise duty and the remaining Rs 1 per litre would be absorbed by oil marketing companies.

It also appealed to the state governments to cut VAT rates. BJP-ruled states like Gujarat, Maharashtra, Uttar Pradesh, Tripura, Assam, Jharkhand, Haryana, Himachal Pradesh and Madhya Pradesh followed suit.

Non-BJP ruled states like Kerala, Karnataka and West Bengal have refused to cut taxes.

Jaitley said the political crisis in Venezuela and Libya has adversely impacted oil producing countries and the US sanctions on Iran also have increased uncertainties over supplies.

He said the high cost of crude oil has also impacted the currency situation.

"India's macroeconomic fundamentals with regard to its fiscal deficit, inflation, foreign exchange reserves etc. are fairly stable. Tax collections are encouraging," Jaitley said.

However, a high cost of crude oil adversely impacts the current account deficit. That, in turn, impacts the currency. Additionally, the hardening of the dollar has further impacted most global currencies.

"Both the factors have an impact on the cost of fuel available to a citizen," he said, adding the cost of crude oil has reached its highest level in the past four years.

Stating that the government critics rejoiced the political consequences of the increase of the crude prices, Jaitley said when the price was reduced, the critics did a "volte face and argued that this is bad economics".

"Even Rahul Gandhi, whose party had inflicted a double digit inflation on India during the past five years of UPA-II, gave television bytes and released tweets advocating a price reduction," Jaitley said.

"Let me categorically assure all that there is no going back on deregulation of oil prices," he added.

He said the NDA government has an "exemplary record" of fiscal prudence and has maintained the gradual glide path since 2014 to bring down fiscal deficit. "We will continue to do so".

"No Government can be insensitive towards its people," Jaitley added.

Last year in October, when the oil prices were rising, the Centre cut excise duty by Rs 2.

"We have requested the States to make a similar cut. Most of the BJP-NDA States did so. The others refused to do so," Jaitley said, adding in an extraordinary situation, the capacity of an economy to give relief will depend on its fiscal strength.

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News Network
May 19,2020

New Delhi, May 19: In a fresh blow to saffronite journalist Arnab Goswami, the Supreme Court of India today rejected his plea seeking transfer of the investigation of a case, filed against him for defaming Congress interim president Sonia Gandhi, to the CBI. The court also refused to quash the FIRs filed against him.

Goswami, editor-in-chief of Republic TV, has been booked in connection with a TV show on the gathering of migrants outside Bandra railway station on April 14. This apart, multiple FIRs have been filed against him for his show on Palghar lynching. In that show, he had posed certain questions on the incident to Congress President Sonia Gandhi, following which Congress workers lodged complaints against him in various states.

Extending Goswami’s interim protection from arrest by three weeks, the Supreme Court said, “Right of a journalist under 19 1 (a) higher…Free citizens can’t exist if news media can’t speak.”

During the earlier hearing, Senior Advocate Harish Salve, appearing for Goswami, had urged the court to transfer the probe to an agency like CBI. He said the “nature of the” second FIR against Goswami over a show on the migrant gathering outside Bandra station on April 14 “shows that it’s arm-twisting tactic”. 

“They are trying to stifle an unpleasant voice. This is a political party targeting a journalist. All complainants are members of one political party. They have a problem with the government. They want to teach this journalist a lesson,” he added.

Objecting to Salve’s plea to transfer the case to the CBI, Maharashtra government counsel, Senior Advocate Kapil Sibal, had said, “CBI investigation will go into your hands”. 

Sibal denied that Goswami was being harassed and said he was only asked relevant questions. He said Goswami should “stop this communal violence and communal mongering”.

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News Network
January 20,2020

Davos, Jan 20: India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget, a new study said on Monday.

Releasing the study 'Time to Care' here ahead of the 50th annual meeting of the World Economic Forum (WEF), rights group Oxfam also said the world's 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 per cent of the planet's population.

The report flagged that global inequality is shockingly entrenched and vast and the number of billionaires has doubled in the last decade, despite their combined wealth having declined in the last year.

"The gap between rich and poor can't be resolved without deliberate inequality-busting policies, and too few governments are committed to these," said Oxfam India CEO Amitabh Behar, who is here to represent the Oxfam confederation this year.

The issues of income and gender inequality are expected to figure prominently in discussions at the five-day summit of the WEF, starting Monday. The WEF's annual global risks Report has also warned that the downward pressure on the global economy from macroeconomic fragilities and financial inequality continued to intensify in 2019.

Concern about inequality underlies recent social unrest in almost every continent, although it may be sparked by different tipping points such as corruption, constitutional breaches, or the rise in prices for basic goods and services, as per the WEF report.

Although global inequality has declined over the past three decades, domestic income inequality has risen in many countries, particularly in advanced economies and reached historic highs in some, the Global Risks Report flagged last week.

The Oxfam report further said "sexist" economies are fuelling the inequality crisis by enabling a wealthy elite to accumulate vast fortunes at the expense of ordinary people and particularly poor women and girls.

Regarding India, Oxfam said the combined total wealth of 63 Indian billionaires is higher than the total Union Budget of India for the fiscal year 2018-19 which was at Rs 24,42,200 crore.

"Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women. No wonder people are starting to question whether billionaires should even exist," Behar said.

As per the report, it would take a female domestic worker 22,277 years to earn what a top CEO of a technology company makes in one year.

With earnings pegged at Rs 106 per second, a tech CEO would make more in 10 minutes than what a domestic worker would make in one year.

It further said women and girls put in 3.26 billion hours of unpaid care work each and every day -- a contribution to the Indian economy of at least Rs 19 lakh crore a year, which is 20 times the entire education budget of India in 2019 (Rs 93,000 crore).

Besides, direct public investments in the care economy of 2 per cent of GDP would potentially create 11 million new jobs and make up for the 11 million jobs lost in 2018, the report said.

Behar said the gap between rich and poor cannot be resolved without deliberate inequality-busting policies, and too few governments are committed to these.

He said women and girls are among those who benefit the least from today's economic system.

"They spend billions of hours cooking, cleaning and caring for children and the elderly. Unpaid care work is the 'hidden engine' that keeps the wheels of our economies, businesses and societies moving.

"It is driven by women who often have little time to get an education, earn a decent living or have a say in how our societies are run, and who are therefore trapped at the bottom of the economy,” Behar added.

Oxfam said governments are massively under-taxing the wealthiest individuals and corporations and failing to collect revenues that could help lift the responsibility of care from women and tackle poverty and inequality.

Besides, the governments are also underfunding vital public services and infrastructure that could help reduce women and girls' workload, the report said.

As per the global survey, the 22 richest men in the world have more wealth than all the women in Africa.

Besides, women and girls put in 12.5 billion hours of unpaid care work each and every day -- a contribution to the global economy of at least USD 10.8 trillion a year, more than three times the size of the global tech industry.

Getting the richest one per cent to pay just 0.5 per cent extra tax on their wealth over the next 10 years would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health.

Governments must prioritise care as being as important as all other sectors in order to build more human economies that work for everyone, not just a fortunate few, Behar said.

Oxfam said its calculations are based on the latest data sources available, including from the Credit Suisse Research Institute's Global Wealth Databook 2019 and Forbes' 2019 billionaires list.

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News Network
February 29,2020

New Delhi, Feb 29: Amid the raging communal violence in the entire north-east Delhi earlier this week, there were people who were trying to save persons and families from the "other community" from the fury of the mobs of their own community.

Naeem Ali Pradhan, 34, from Shiv Vihar, helped at least 7-8 Hindus on the night of February 24 -- when the violence was at its peak-- escape to safer locations. Shiv Vihar is one of the worst affected areas in the violence.

According to Naeem Ali, that night mobs attacked dozens of shops on the road and later tried to enter inside the residential areas.

Suddenly, he spotted a group of youth who were looking hassled and frantically asking for directions.

"I saw them. Thye were Hindus who were trying to escape a mob looking to target them. They had lost their way inside the streets of our colony. I along with other Muslim men escorted them to the nearby Hindu locality," Naeem, who is also a member of the Aman Committee constituted by the Delhi police, told ANI.

"Several shops which were on the roads including some showrooms were attacked by a group. These Hindus were worried as a mob which was on the main road was attacking people. They asked me the address of a colony as they were unable to find their way," Naeem said.

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