Vajpayee - pragmatist, orator and statesman who went beyond BJP's nationalist political agenda

Agencies
August 16, 2018

New Delhi, Aug 16: Statesman and pragmatist, orator and poet, a man of peace and conviction. Atal Bihari Vajpayee was a towering nationalist who softened the often sharp edge of his party's politics with a gentle sophistry of words, earning him the sobriquet "ajaat shatru" or the man with no enemies.

The first prime minister from a non-Congress party to complete a full term in office, Vajpayee began shakily -- his first stint as prime minister in 1996 lasted only 13 days when his unlikely coalition government failed to get support from other parties. The BJP-led coalition government came back to power in 1998, and this time Vajpayee stayed in office for 13 months before losing a no-confidence motion by one vote.

The National Democratic Alliance returned to power in October 1999 with Vajpayee as prime minister once again. This time he lasted the entire term, capping a glorious career that saw him go from student activist to journalist, Rashtriya Swayamsewak Sangh pracharak, Member of Parliament, foreign minister, opposition leader and finally a much-loved leader of the nation.

Like many of his generation, Vajpayee _ who died today at age 93 _ came into politics as an 18-year old during the Independence movement in 1942 when the Quit India movement was going on.

A lifelong bachelor, Vajpayee was first elected to Lok Sabha in 1957 from Balrampur in Uttar Pradesh in India's second general elections. His maiden speech in Parliament so impressed his peers and colleagues that the then Prime Minister Jawaharlal Nehru introduced Vajpayee to a visiting foreign dignitary thus: "This young man one day will become the country's prime minister." 

He remained a member of Parliament for 47 years -- elected 10 times to the Lok Sabha and twice to Rajya Sabha.

Vajpayee's signature in politics was achieving pragmatic consensus, and in this process he earned the respect of his party, allies and opponents. Abroad, he projected a harmonious image of India and connected it to the world through his foreign policy outreach.

Fluent in English, his oratory was at its best in Hindi. With his well-timed wit, and carefully-chosen words delivered with trademark long pauses, Vajpayee immediately connected with all those who came in contact with him -- the common man, politicians, bureaucrats, students and world leaders.

As foreign minister under the Janata Party government headed by Morarji Desai in 1977, Vajpayee was the first leader to deliver a speech to the United Nations General Assembly in Hindi.

He was awarded India's highest civilian award, the Bharat Ratna, in March 2015. 

While his six years in office were defined by several crises _ including the hijacking of an Indian Airlines jetliner to Kandahar, Afghanistan in 1999, an attack on the Parliament building in 2001, communal riots in Gujarat in 2002 _ he also left a mark with peace initiatives and infrastructural projects. Chief among them is the Golden Quadrilateral Highway network, connecting India's four major metropolises with 5,846 kilometers of roads. 

During his second term as prime minister, Vajpayee ordered nuclear tests in May 1998 in a strategic masterstroke to blunt Pakistan's nuclear ambitions while at the same time announcing a moratorium on future testing. He followed this up with peace overtures to Pakistan, riding on the first direct bus from India to Pakistan in February 1999.

Undeterred by party hawks, Vajpayee arrived in Lahore on the bus, accompanied among others by legendary actor Dev Anand. Vajpayee met with then Prime Minister Nawaz Sharif in what was hailed as the dawn of a new era in India-Pakistan relations.

However, then army chief Gen. Pervez Musharraf did not turn up to greet him at the Wagah border. It soon became clear why.

Only months later, in June 1999, Pakistan began hostilities in Kargil that took the two countries to the brink of a full-scale war. Vajpayee felt betrayed and never hid his bitterness whenever Kargil was mentioned. He tried again to build peace with Pakistan -- which people close to him say was the mission of his life -- by holding a historic summit in Agra with Musharraf in 2001, who by then had become the president. But the summit too failed spectacularly.

Another historic event that he expressed anguish about was the post-Godhra communal riots in Gujarat in 2002 when Prime minister Narendra Modi was the chief minister.

Unwilling to hide his feelings over the riots, Prime Minister Vajpayee said the government must follow "raj dharma". In his autobiography, former President Pranab Mukherjee wrote that the Gujarat riots were "possibly the biggest blot" on Vajpayee's government that could have cost the Bharatiya Janata Party the 2004 Lok Sabha elections.

After the NDA was routed in the elections, Vajpayee announced his retirement from politics in 2005 and slipped into relative political oblivion. He was rarely seen in public after suffering a stroke in 2009, and subsequently developed dementia. However, his influence loomed large over the party, which often quoted him and his policies. 

In his Independence Day speech yesterday, Modi said he wants to resolve the Kashmir issue through Vajpayee's doctrine of "Insaniyat, Kashmiriyat, Jamhooriyat", which seeks to preserve the composite Kashmiri culture while ensuring democracy in a humane manner. 

When he assumed office for the second time in 1999 as the head of a more stable coalition, Vajpayee had to abandon some of the cornerstones of BJP's policies to get the backing of more secular groups. This included the BJP's demands for scrapping the special status for Jammu and Kashmir, building a Hindu temple on the site of the Babri mosque in Ayodhya and abolishing the separate civil code for Muslims.

The demolition of Babri Masjid by kar sewaks in December 1992, when he was the Leader of Opposition in Lok Sabha, was an acid test for Vajpayee's secular agenda and his stand within the party. Vajpayee's trusted lieutenant L K Advani and most BJP politicians supported the demolition but Vajpayee condemned the attack unequivocally.

At times he tried to appeal to Muslims and other minority groups, and was seen as a reassuring figure for India's mainly secular establishment.

His personal integrity was never seriously questioned but arms bribery scandals exposed corruption in his government and at times cast doubts on his judgment.

A romantic at heart, Vajpayee wrote poetry in his spare time, and was a connoisseur of good food.

Vajpayee was born on December 25, 1924 in Gwalior, Madhya Pradesh to a schoolteacher, Krishna Bihari Vajpayee, and Krishna Devi. Today, his birthday is celebrated as Good Governance Day'.

After schooling, he graduated from Victoria College in Gwalior, now known as Laxmi Bai College. He did his M.A. in political science from DAV College in Kanpur. Following a brief flirtation with communism, he became a full-time worker of RSS in 1947.

Vajpayee subsequently entered journalism and was editor of Rashtradharma, a Hindi monthly, the Panchjanya Hindi weekly and the dailies, Swadesh and Veer Arjun.

He became a close follower of Syama Prasad Mookerjee, the founder of the Bharatiya Jana Sangh, the precursor to Jana Sangh and later the BJP. Under Mookerjee's tutelage, Vajpayee's right-wing philosophy shaped. 

Vajpayee accompanied Mookerjee to Kashmir in early 1950s during the BJS leader's fast-unto-death to protest the identity card requirement for Indian citizens visiting the state. It was Vajpayee's first insight into the Kashmir problem, which decades later he addressed in 2003 with the "Insaniyat, Kashmiriyat, Jamhooriyat" doctrine. 

Vajpayee is survived by his adopted daughter, Namita Kaul Bhattacharya

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Agencies
August 2,2020

Lucknow, Aug 2: Uttar Pradesh's cabinet minister for Technical Education Kamal Rani Varun succumbed to COVID-19 on Sunday at the Sanjay Gandhi Postgraduate Institute of Medical Sciences.

Kamal Rani is the first minister in Uttar Pradesh to die after contracting coronavirus. She was 62.

On 18 July, the minister tested positive for coronavirus and was admitted to the Shyama Prasad Mukherjee Hospital.

She was later shifted to the Sanjay Gandhi Postgraduate Institute of Medical Sciences.

Uttar Pradesh chief minister Yogi Adityanath has expressed grief over the minister's death.

In a condolence message issued on Sunday, Adityanath said, "Kamal Rani Varun died on Sunday at around 9.30 am. She was an experienced and capable leader. She discharged her responsibilities with competence. She was a dedicated public representative, who was always working for the welfare of deprived and oppressed sections of the society."

Kamal Rani was the MLA from Ghatampur in Kanpur. She was also twice a Member of Parliament in the Lok Sabha.

Meanwhile, Adityanath has cancelled his visit to Ayodhya scheduled for the day, Additional Chief Secretary (Home) Awanish Awasthi said on Sunday.

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News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

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Agencies
February 4,2020

Dirbrugarh, Feb 4: Three persons, including two BJP activists, have been arrested for allegedly attacking the residence of Union minister Rameswar Teli during anti-CAA protests in Assam, police said on Monday.

The house of Teli, Union Minister of State for Food Processing, in Upper Assam's Duliajan town was attacked on December 11 during the statewide stir against the contentious Citizenship (Amendment) Act, 2019.

"Based on CCTV footages, Debajit Hazarika, Vicky Sonar and Arup Kahar were arrested. We had picked them up on Sunday," Dibrugarh Superintendent of Police, Sreejith T told PTI.

A total of 18 persons have been arrested so far for allegedly attacking Teli's house, he said.

"These three persons were also involved in pelting stones on a police party during protests in Duliajan," Sreejith said.

A BJP source confirmed that Debajit Hazarika and Vicky Sonar are party activists.

Family members of the accused have given statements to the police on the arrested persons' alleged role in violence and attacking Teli's house, sources said.

When contacted, Teli said, "I do not know for what reasons they were apprehended. But if police arrested them after proper investigation, then there must be some truth. The trio stays near my house. They always attended my programmes with their families."

A total of 88 people have been arrested so far from Dibrugarh district for their alleged involvement in violence during protests against the Act.

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