UPA pressured me to drop names from CWG, coal reports: Rai

August 24, 2014

New Delhi, Aug 24: In fresh embarrassment to the erstwhile UPA regime, particularly to former Prime Minister Manmohan Singh, former CAG Vinod Rai has claimed that coalition functionaries had deputed politicians to get him leave out names from the audit reports in the Coalgate and Commonwealth Games scams.

Vinod RaiIn remarks damning the previous dispensation, he has also claimed that UPA functionaries had roped in even his colleagues in the IAS, to which he belonged before his appointment as CAG, to persuade him to leave out names.

Like some of the books that have recently hit the stands including those by the media adviser of the former prime minister Sanjay Baru, former External Affairs Minister K Natwar Singh and former Coal Secretary P C Parakh that have been severe on Singh and his government, Rai is penning his views in his forthcoming book "Not Just An Accountant" to be released in October, that will be critical of the UPA regime.

Rai, who had demitted office last year after several run-ins with the UPA government and had estimated a "notional"loss of Rs. 1.76 lakh crore in the 2G spectrum allocation and Rs.1.86 lakh crore in Coal Block allocations, was severe in his comments to Times of India on Singh.

He has said he would provide details of how sheer considerations of survival led Singh to acquiesce to decisions which caused huge loss to the exchequer.

"See the prime minister is the first among equals.He has to take the last call which sometimes he did, sometimes he didn't.Everything cannot be sacrificed only to remain in power. Governance cannot be sacrificed at the altar of compulsion of coalition politics. I have said it in the book," he said.

Today, Rai refused to meet reporters who reached his residence and declined to comment on the report. But sources close to him said, "Each and every word in the book is factually correct. The purpose is not to tarnish image of somebody but to help in improving governance and systems in future. The language used in the book is so simple that people from all walks of life including students can understand," they said.

Asked why Rai is making these comments now and not earlier, the sources said, he was holding a constitutional post at that time and it would have undermined the status of the institution which he headed.

"Now he is free to talk about it and in the book he has spoken about every person, taking their names, who had criticised the institution and the mandate of the CAG to do performance audit," the sources said.

They said the title of the book was inspired from a Supreme Court observation in a judgement in a PIL that "the CAG is not just a munim (account)."

Rai also said it was during the meetings of Parliament's Public Accounts Committee that he came under pressure from the Congress members of the Committee, who put tough and hostile questions to him.

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News Network
February 3,2020

Indore, Feb 3: Senior Congress leader Digvijaya Singh on Sunday attacked the Centre for conferring the Padma Shri on Pakistan-origin singer Adnan Sami, who became an Indian citizen in 2016.

Addressing "Save the Constitution, Save the Country" rally here in Madhya Pradesh, Singh said Sami's father had "pounded India with bombs" when he was serving with the Pakistani Air Force (PAF).

"Since Sami is an artist who has come from Pakistan, I had recommended his case to the Indian government for citizenship. He has got Indian citizenship under the Modi government," the Congress leader said, adding that he never made any recommendation to the government for conferring Padma Shri on Sami.

He said Sami's father had "dropped bombs against us" while flying a Pakistan Air Force combat plane.

"In contrast, Indian Army officer Sanaullah of Assam, who had fought against the enemy, was sent to a detention camp for failing to show documents (during the Assam NRC exercise). This is the citizenship law of the Modi government," he said.

Sami, born in London to a Pakistani Air force veteran, applied for Indian citizenship in 2015 and became a citizen of the country in January 2016.

He was one of the 118 people chosen for the Padma Shri awards by the Centre last month.

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Indian Citizen
 - 
Monday, 3 Feb 2020

 

Nowadays, Modi is uttering Pakistan even in his dream, while putting the India & Indians on the fence.

BSF Officer Sanaullah was deprived of his basic rights and put in the detention center while Adnan Sami was granted citizenship and conferred with prestigious "Padma Shri" Award. Really, Modi & Amit Shah duos doesn't know what they are doing in India.....what a bizzare!!!

 

Indian Citizen
 - 
Monday, 3 Feb 2020

Nowadays, Modi is uttering Pakistan even in his dream, while putting the India & Indians on the fence.

BSF Officer Sanaullah was deprived of his basic rights and put in the detention center while Adnan Sami was granted citizenship and conferred with prestigious "Padma Shri" Award. Really, Modi & Amit Shah duos doesn't know what they are doing in India.....what a bizzare!!!

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
July 10,2020

Lucknow, Jul 10: Samajwadi Party supremo Akhilesh Yadav on Friday raised questions on gangster Vikas Dubey's encounter killing after an accident, saying the car did not topple but it was an effort to save the government from toppling if facts came to light.

Dubey was killed in an encounter after a police vehicle carrying him from Ujjain to Kanpur met with an accident and he tried to escape from the spot, police said.

"Darasal ye car nahi palti, raj khulne se sarkar palatne se bach gayi hai," (Actually, the car did not topple. It is an effort to save the government which would have toppled if facts came to light)," Yadav said in a tweet in Hindi.

Senior Superintendent of Police (Kanpur) Dinesh Kumar P said that the accident took place in the morning when it was raining heavily and the police vehicle overturned near Kanpur.

Eight policemen, including DSP Devendra Mishra, were ambushed in Bikru village in Chaubeypur area of Kanpur when they were going to arrest Dubey and fell to bullets fired from rooftops shortly after midnight on July 3.

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