'We Did Work, They Took Credit': Union Minister's Swipe at Arvind Kejriwal

New Delhi, Jan 11: Chief Minister of Kerala Pinarayi Vijayan on Saturday met JNU Students' Union (JNUSU) President Aishe Ghosh here at Kerala House on Saturday.

This meeting comes at the backdrop masked mob violence by miscreants who entered the university campus recently and attacked the students and professors with sticks and rods.

"I thank the Kerela government for standing by us and extending solidarity. Its fight Citizenship Amendment Act (CAA) shows how standing is standing for its secular ethos. Students Union takes the inspiration from this struggle," said Students' Union President in a statement after meeting Kerala CM.

She also thanked "the youth and comrades of Kerela" and quoted Pinarayi as saying, "go on we will take this fight ahead."

More than 30 students, including Ghosh, were taken to the AIIMS Trauma Centre.

The Delhi Police Crime Branch investigating the case of violence in JNU had identified and released photographs of nine suspects, including that of Aishe Ghosh.

Earlier on Monday, Kerala CM had said that the "Nazi-style attack" on the students and faculty is an appalling display of intolerance running amok.

New Delhi, Jan 24: The government's plan to sell national carrier Air India may face political and legal headwinds with senior BJP leader Subramanian Swamy raising the red flag against the decision.

Days before the launch of bidding process by inviting Expressions of Interest (EoI) from potential suitors, Swamy has warned against such move, saying the issue was currently being discussed by a Parliamentary panel.

"Right now, it (Air India disinvestment) is before the consultative committee and I am a member of that. I have been asked to give a note which will be discussed in the next meeting. They can't go ahead without that," Swamy told media.

"If they do, I will go to court. They know that too," he cautioned.

A vocal opponent of Air India privatisation, Swamy had earlier suggested to list 49 per cent of Air India shares on stock exchanges while government holds 51 per cent in the carrier, as an alternative to selling its entire stake to private companies.

It has been reliably learnt that the Rajya Sabha member had expressed reservations over privatisation of Air India at the meeting of a Parliamentary consultative committee earlier this month.

After its failed first attempt, the Modi government has shown great zeal this time to sell Air India. It is set to offer a sweetened deal to potential buyers this time around by removing a large chunk of the debt and liabilities from the airline’s books.

Aviation Minister Hardeep Singh Puri had earlier said that Air India will be shut down, in case the disinvestment exercise is not successful.

Sources told media that the preliminary information memorandum (PIM) inviting EoI has been tentatively scheduled to be unveiled on January 27.

Air India is proposed to be sold along with its subsidiary Air India Express and ground-handling joint venture company Air India Singapore Airport Terminal Services Ltd (AISATS) in which it has 50 per cent stake.

Air India on January 10 came out with a tender for engaging aircraft asset management companies for carrying out technical audit of its entire fleet.

A Ministerial panel on Air India chaired by Home Minister Amit Shah on January 7 approved the draft EoI and a share purchase agreement (SPA) for the airline's disinvestment.

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.