'Political selfishness of Cong led to Andhra's division: PM

October 22, 2015

Amaravati (AP), Oct 22: Laying the foundation stone for the new capital, the Prime Minister exhorted people of both the states not to fall prey to lies and disinformation that could fuel tension between Andhra and Telangana.PM-Modi copy

"For some people's political selfishness, Andhra Pradesh was bifurcated in haste without properly carrying out the process of proper consultation. I can even today feel the pain of those innocents who lost their lives and suffered loss to property in this episode.

"The British left behind such things due to which there is tension in the country even today. The previous government did something that due to which everyday there is tension created," he said addressing a gathering here.

The Prime Minister assured the people that Andhra Pradesh Reorganisation Act will be implmented in 'letter and spirit' within the stipulated timeframe.

Modi accused the previous Congress-led UPA government of trying to sow the seeds of permanent problem between the two states and urged the people to move forward in the "true spirit and soul of Telugu".

"Those people who while bifurcating Andhra and Telangana have attempted to sow the seeds of a permanent problem, they are even today adding fertilizer to create poison, create illusion and are trying to play with the emotions of the youth," he warned.

Citing the example of creation of three new states --- Uttarkhand, Jharkhand and Chattisgarh---during Atal Bihari Vajpayee's tenure where there was no conflict, Modi said he was attempting to do the same now so that there is no problem or bloodshed between the people of the two states.

"The previous government has done a lot of such things that a lot of time and energy of this government is going into undoing and setting them right. But I assure Centre's support to both the states and the Government of India will always stand by and support you," he said.
The Prime Minister said he alongwith Chief Minister Chandrababu Naidu will fulfil the
dreams and aspirations of Andhra Pradesh and take it to greater heights by expediting the development process.

"I want to assure the people of Andhra that Government of India will implement the provisions of the Reorganisation Act in letter and spirit. I have come here to assure you that the Narendra Modi and Chandrababu Naidu duo will fulfil all the dreams and aspirations and the issues agreed upon within the stipulated time frame," he said.

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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News Network
June 18,2020

New Delhi, Jun 18: For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday.

The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre.

Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

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News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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