President urges people to vote during LS polls

Agencies
January 25, 2019

New Delhi, Jan 25: With Lok Sabha elections round the corner, President Ram Nath Kovind on Friday gave a clarion call to people to perform the "sacred act" of voting, emphasising this year's polls should be seen as a "once-in-a-century moment" that will shape the India of the remainder of the 21st century.

Observing that an election is not just a political exercise, Kovind said it is a collective call to wisdom and a collective call to action, adding the ideas and idealism of our democracy will come into force to elect the 17th Lok Sabha.

In his customary address to the nation on the eve of the 70th Republic Day, the President said development of the country cannot be completed without a salute to the "spirit of inclusiveness and pluralism which rests on a "tripod of diversity, democracy and development".

"This country belongs to each of us and to all of us – every group and every community, every region and every identity. It belongs to every citizen and every individual. India's pluralism is its greatest strength and its greatest example to the world.

"The 'Indian model' rests on a tripod of diversity, democracy and development. We cannot choose one above the other; we must have all three and we will have all three," he said in the address that was telecast and broadcast across the country.

Referring to the general elections that are due before June, the President said it will be the first when voters born in the 21st century will contribute to electing a new Lok Sabha.

The election represents the diverse and singular urges of the people and the Republic of India, he said.

"This makes the very act of voting a sacred act. Please perform this act. Who the voter chooses to vote for is up to him or her, I would only request all eligible voters to go out and vote.

"Our country is at a key juncture. In some respects this is as critical and formative a period as the late 1940s and early 1950s. Decisions and actions of today will shape the India of the remainder of the 21st century. As such, this is not just a once-in-a-generation moment – it is a once-in-a-century moment," he said.

The President said this election, in which the ideas and idealism of democracy will come into full force, is only a milestone in the journey towards fulfilling the aspirations of the people and building a developed India.

While appreciating the role of successive generations in nation building, the President reminded the people that "our voyage is far from complete."

"There are still waters to cover, still gaps to fill and still tears to wipe."

"We have to recalibrate our yardstick of achievement and success – from quantity to quality; from a literate society to a knowledge society; from a nation that has room for all segments and all communities to a family that invokes, encourages and celebrates the uniqueness and potential in each person – each daughter and each son," he said.

He said the ideals of Mahatma Gandhi of all people living in perfect harmony are a constant reminder while building the nation.

In an apparent reference to the 10 per cent quota for economically weaker sections in the general category, he said "the recent constitutional amendment to provide special facilities for talented children from poorer families is another step to an India of our dreams – and of Gandhiji's dreams."

The President also advocated the need for engaging in conversation with groups who have been historically disadvantaged.

"Partnerships are enhanced by open communication, honest conversation and unstinted compassion...This is also true with sections or groups that have been historically disadvantaged and whose grievances must continue to be heard and addressed. It is important to create avenues for such conversations, even if they are inconvenient.

"In a society experiencing rapid change, we must be prepared for such conversations. And similarly, we must be alive to the need for compassion – to those less privileged than us and to the differently-abled, for example," he said.

The President stressed that the vision of India's Republic was to reach democratic goals by democratic means, pluralistic goals by pluralistic means, enlightened goals by enlightened means, inclusive goals by inclusive means, compassionate goals by compassionate means – and constitutional goals by constitutional means.

"May those principles always illuminate our path! After all, 'We, the People …' gave ourselves this Constitution and 'We, the People …' are the custodians and upholders of its principles," he said.

He said the best indicator of social change in India is changing towards gender equity and towards providing equal opportunities, under conditions of equality, to every girl child and every woman.

"...Young women in our country are moving ahead in every field - from academics to the creative arts, from sports to the armed forces. There is no stopping and no hesitation in this process. It is the route to India’s future," he added.

Kovind said this year also marks 150th birthday anniversary of Gandhi ji which will be followed by the 70th anniversary of the adoption of the Constitution. "In his (Bhimrao Ambedkar), honour and in our Constitution's honour, the nation will celebrate Constitution Day this year in an appropriate manner," he said.

The President said the country was at the doorstep of eliminating extreme poverty for the first time in memory and several people friendly programmes including equitable healthcare have begun to be rolled out.

Road, water, rail and air connectivity has improved. "India has been united and integrated – now it is being networked," he said.

Comments

Wellwisher
 - 
Saturday, 26 Jan 2019

Happy Republic Day

 

Long Live India

 

No  doubt this time polling turnout wI'll come with new record.Peace lovIng patriot Indians will reject criminal force and their political leader's. 

 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 31,2020

Wuhan, Jan 31: The World Health Organization declared a global emergency over the new coronavirus, as China reported Friday the death toll had climbed to 213 with nearly 10,000 infections.

The UN health agency based in Geneva had initially downplayed the threat posed by the disease, but revised its risk assessment after crisis talks.

suspended or reduced service to China include British Airways, German flag carrier Lufthansa, American Airlines, KLM and United.

Chinese efforts to halt the virus have included the suspension of classes nationwide and an extension of the Lunar New Year holiday.

All football matches across the country also will be postponed, the Chinese Football Association said on Thursday, including games in the top-tier Chinese Super League.

World stock markets tumbled again Thursday on fears that trouble in the "world's factory" would upset global supply chains and dent profits.

Toyota, IKEA, Starbucks, Tesla, McDonald's and tech giant Foxconn were among the corporate giants temporarily freezing production or closing large numbers of outlets in China.

Volkswagen announced Thursday its China joint-venture plants would not start production again before February 9.

US Federal Reserve Chairman Jerome Powell said the coronavirus posed a fresh risk to the world economy.

Throughout China, signs of paranoia multiplied, with residents of some Beijing residential compounds erecting makeshift barriers to their premises.

In one of many similar photos posted online, a man wearing a surgical mask and brandishing a traditional martial arts weapon squatted on a barricade outside a Chinese village, near a sign saying: "Outsiders forbidden from entering".

The crisis has caused food prices to spike, and the central government on Thursday blamed this partly on overzealous preventive measures, issuing a directive banning any roadblocks or other hindrances to food shipments.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 16,2020

Mar 16: An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least Rs 2,000 crore is missing from its accounts, according to people familiar with the matter.

The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. The draft report, running more than a hundred pages, points to thousands of rupees that have gone missing, said the people, asking not to be named because the details aren’t public. It also details hundreds of transactions between the founder’s listed and personal businesses that were not conducted at arm’s length, they said.

Though the report is in its final stages, the precise details could change before its release, expected as early as this week, the people said. The missing funds could total more than Rs 2500 crore, one person said.

“The investigation report is still a work in progress, and not finalized,” a spokesman for the company said. “The board of directors and the company are unaware of its content at this point of time. Hence it would be premature to speculate on the investigation findings.”

The priority for management and Siddhartha’s family “is to keep the business running in a challenging environment and meet all stakeholder commitments, including 30,000 jobs associated with the group,” the spokesman added.

The disappearance of the 59-year-old founder last year stunned India’s business community. He had last been seen telling his driver he was going for an evening walk along a bridge in southern India; his body was found by local fishermen two days later. A letter delivered to Coffee Day’s board and employees, which appeared to be signed by Siddhartha, described massive debts and complained of pressure from lenders and tax authorities. It claimed he bore sole responsibility for the company’s financial transactions.

The probe began about a month later when the company brought in Ashok Kumar Malhotra, a retired senior official from India’s federal enforcement agency, to investigate. A senior lawyer practicing in India’s top court is assisting, the company said in a regulatory filing at the time.

The publicly traded Coffee Day was supposed to be India’s answer to Starbucks Corp. More than 1,500 of its Café Coffee Day outlets blanketed cities and highways, with affordable options for the country’s aspiring middle classes. The chain’s tagline: “A lot can happen over coffee.”

But the empire has been battered since the founder’s death. Its shares plummeted about 90% and its market value dropped to about $80 million. Trading was suspended in February.

India’s regulators are tracking the situation and may use the company’s final report as part of a deeper dive into its internal affairs, the people said. Coffee Day showed about Rs 2400 crore in cash and cash equivalents on its balance sheet as of March 2019, the most recent figures the company has issued.

After the death of Siddhartha however, the company faced a severe liquidity crunch and had “zero cash in the bank,” according to one of the people. It struggled with day-to-day expenses and paying salaries has been a strain, the person said.

The draft report details personal guarantees by Siddhartha for loans taken by Coffee Day, and his unsecured loans at high interest rates from local money lenders, the people said. It also probes Coffee Day’s defaults to coffee growers and other vendors, they said.

A related issue is that coffee estates owned by Siddhartha and several employees had been used as collateral for bank loans. The report found that valuations for properties were inflated to get the loans, one person said.

Investigators have examined several theories about what happened to the company’s money, including whether Coffee Day was manipulating its finances to show cash and profit and whether Siddhartha was taking cash out of the listed company to pay off a large investor to whom he had guaranteed a return, the person said. From the filings of his listed and private companies, the entrepreneur’s loans had totaled more than Rs 10,000 crore, and he had been squeezed by borrowing to repay interest on earlier loans, the person said.

In the letter purportedly from Siddhartha, the entrepreneur said he had tried his best but failed as an entrepreneur. “I am solely responsible for all mistakes,” the letter read. “Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable, as I have withheld this information from everybody including my family.”

As the report nears release, Coffee Day is finalizing a deal with Blackstone Group Inc. for real estate assets. A large tranche of the payment is due in about a week, one person said.

Coffee Day said it is working to reduce its debt load by divesting non-core enterprises.

“The aim is to save employment and preserve this iconic Indian brand,” the spokesman said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.