Previous govts hated development, says PM Modi

Agencies
September 22, 2017

Varanasi, Sept 22: Prime Minister Narendra Modi on Friday lashed out at previous governments, saying they seemed to hate development and “looted” public money to win elections.

Starting his two-day visit to Varanasi, Mr. Modi gifted schemes worth Rs 1,000 crore to his Lok Sabha constituency.

“Development is solution to all our problems. Previous governments seemed to hate development and looted public money to win elections,” he said addressing a public meeting here.

The Prime Minister, who was speaking after inaugurating several development initiatives, said, “We not only launch but also complete projects.”

He targeted previous governments, saying they were driven by political calculations, resulting in schemes being inaugurated but never seeing completion.

‘Empowering the poor’

Asserting that his government’s effort was to empower the poor, he said, “Our aim is to see that the dream of development is fulfilled and lives of poor changes and they get opportunities.”

Mr. Modi said even the poor people do not want their future generations to eke out a living like themselves. “No poor person wants to give their children their poverty in inheritance,” he said.

He said his government shares their dream and is working to realise it. “Our government has a dream to wipe out poverty,” he said.

He inaugurated the Deendayal Hastkala Sankul — a trade facilitation centre for handicrafts and crafts museum — constructed at a cost of ₹ 300 crore.

Referring to development projects for weavers, who constitute a major chunk of the population in the city, Mr. Modi said his government wants their works to be showcased globally so as to enhance their economic prospects.

“Our weavers need a global market which will enhance their economic prospects significantly,” he said.

At the Deendayal Hastkala Sankul, Mr. Modi evinced keen interest in the wooden and glass products on display and talked to the rural artisans to encourage them.

Flags off Mahamana Express

The Prime Minister said his government has started initiatives to connect waterways for economic develoment.

He also flagged off, via a video link, the Mahamana Express train to connect Varanasi with Vadodara and Surat in Gujarat, his home state.

Mr. Modi inaugurated banking services of the Utkarsh Bank and unveiled a plaque to mark the laying of foundation stone of the headquarters building of the Bank.

The Utkarsh Bank specializes in micro-finance.

The Prime Minister dedicated a Jal Ambulance (water amublance) service and a ‘Jal Shav Vahan’ service (water—based vehicle service for ferrying bodies) to the people of Varanasi, through a video link.

On the first day of his two-day tour, he is scheduled to visit the historic Tulsi Manas Temple, where he will release a postal stamp on “Ramayana.” He will also visit the Durga Mata Temple in the pilgim city.

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Agencies
July 31,2020

New Delhi, Jul 31: With the highest single-day spike of 55,079 COVID-19 cases in the last 24 hours, India's coronavirus tally breached the 16 lakh mark on Friday, informed the Union Ministry of Health and Family Welfare.

With this latest spike, the total cases in the country stand at 16,38,871. Among these cases 5,45,318 are active. A total of 10,57,806 patients have been cured/discharged/migrated.

779 deaths due to COVID-19 have been reported in the country in the last 24 hours, taking the death toll to 35,747.

As per the Union Health Ministry, Maharashtra has a total of 1,48,454 active cases and recorded 14,729 deaths due to COVID-19.
Tamil Nadu has a total of 57,962 active cases and 3,838 deaths in the state.

Delhi has a total of 10,743 active cases and 3,936 deaths.

The Indian Council of Medical Research on Friday informed that a total number of COVID-19 samples tested up to 30th July is 1,88,32,970 including 6,42,588 samples tested yesterday.

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Agencies
June 22,2020

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

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News Network
March 30,2020

Thiruvananthapuram, Mar 30: Kerala reported 32

fresh cases of coronavirus on Monday, with the worst affected Kasaragod district alone accounting for 17 cases.

Kannur reported 15 cases, while Wayanad and Idukki reported two each, Chief Minister Pinarayi Vijayan told reporters here after a COVID-19 review meeting.

Of the 32 cases, 17 had come from abroad and 15 had been infected through contact.

A total of 213 people are presently under treatment in Kerala.

At least 1.50 lakh people are under surveillance in the state and 623 are in isolation wards of various hospitals.

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