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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News Network
March 21,2020

New Delhi, Mar 21: A couple was deboarded from a Delhi-bound Rajdhani train on Saturday after co-passengers observed a home quarantine seal on the husband's hand, the Railways said Saturday.

Officials said the Delhi-based couple boarded the Bangalore City-New Delhi Rajdhani at Secunderabad on Saturday morning.

When the train reached Kazipet in Telangana at 9:45 am, a co-passenger noticed the quarantine mark authorities are putting on suspected coronavirus cases —on the husband's hand when he was washing his hands. Other co-passengers then informed the TTE onboard.

The train was briefly detained and the couple was taken to a hospital. The coach was completely sanitised in Kazipet and was locked, officials said.

The air conditioning was also switched off.

The train left for its destination at 11.30 am.

People fleeing quarantine has been a common problem reported from different parts of the country.

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News Network
June 25,2020

Ottawa, Jun 25: Prime Minister Justin Trudeau took his son out for ice cream on Wednesday in his first family outing since Canada started easing out of its pandemic lockdown.

It was also Saint-Jean-Baptiste Day in Quebec province.

Wearing masks, the Canadian leader and his six-year-old son Hadrien were cheered at Chocolats Favoris in Gatineau, Quebec.

According to a pool report, Trudeau said the shop tapped into a federal emergency wage subsidy and business loan in order to weather the pandemic, and "avoid being frozen out of the frozen treat market."

Hadrien is said to have bounced with excitement, settling on a vanilla cone with a cookie topping while dad bought a vanilla cone dipped in chocolate for himself.

Father and son then headed out to the patio, where they doffed their masks to eat their cones.

Canada's provinces and territories declared states of emergency mid-March, closing schools and non-essential businesses in response to the pandemic.

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News Network
May 24,2020

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

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