Will Modi have courage to fight from Kerala, asks Shashi Tharoor

Agencies
April 7, 2019

New Delhi, Apr 7: Rahul Gandhi's decision to contest from Wayanad shows he has the confidence to win from both north and south India, senior Congress leader Shashi Tharoor said Sunday and asked whether Prime Minister Narendra Modi would have the courage to fight from a seat in Kerala or Tamil Nadu.

With Gandhi contesting the Lok Sabha polls from Kerala's Wayanad constituency, there is “palpable excitement” across the southern states that the next prime minister could be elected from the the region, Tharoor told PTI in an interview.

Tharoor also slammed Modi and the BJP for suggesting that Gandhi chose Wayanad to "run away" from majority dominated areas, saying the ruling party has repeatedly resorted to peddling bigotry. It was dismaying that this was coming from the prime minister, he added.

"By reinforcing his role as a torchbearer for the BJP's bigotry, Mr Modi has disregarded the principled position that a prime minister of India must be a prime minister for all Indians," he told PTI from Thiruvananthapuram.

Addressing a rally in Wardha in Maharashtra, the prime minister had said the opposition party was "scared" to field its leaders from constituencies where the majority dominates.

Tharoor claimed Gandhi's decision to contest from Wayanad comes at a time of "unprecedented strain" on the spirit of cooperative federalism that has held the country together since its Independence in 1947.

Under the BJP-led Centre, he alleged, relations between the southern states and the federal government have "steadily deteriorated" over a number of issues such as threats to the economic security of the south as well as the future of its political representation.

In that context, Gandhi has made a “bold statement” of intent to suggest he can be the bridge that repairs the growing north-south divide within the country, Tharoor said, adding that it also signals that the Congress chief has the confidence to win elections in both the north and the south.

"Can Narendra Modi make such a claim? Would he have the courage to fight for a seat in Kerala or Tamil Nadu?" the former diplomat turned politician asked.

His remarks come after Gandhi, who is fighting the Lok Sabha elections from his traditional bastion Amethi in Uttar Pradesh, on Thursday also entered the poll fray in Wayanad by filing his nomination papers from the constituency in Kerala.

Tharoor, who himself is seeking a third straight Lok Sabha term from Thiruvanathapuram, cited the "incredibly warm and rousing reception" Gandhi received in Wayanad and said it was reflective of the genuine spirit of celebration that has seized the south.

Asked if the message of support for the people of south India that Gandhi wanted to convey by contesting from Wayanad was well received, Tharoor said, "I think it certainly has and today as a result of his decision there is a palpable excitement across the southern states that the next prime minister of the country could be elected from the south."

Quoting Gandhi's statement that "south India feels hostility from Narendra Modi" and he wanted to send a message of support to the people there, Tharoor said a sense of confidence and reassurance is spreading across the region, including in Kerala and neighbouring Karnataka and Tamil Nadu.

Asked if the move could create a 'Rahul wave' in the south, Tharoor said, "In Kerala, it has had an invigorating effect among our workers particularly those working on the ground and we are already seeing a ripple effect of this 'wave' spreading across neighbouring Karnataka and Tamil Nadu.”

"… arguably, the implications of his decision have not just been prompted by a strategic choice to energise the Congress workers, but by a larger sense of duty and commitment," the former Union minister added.

Discussing the BJP's criticism of the move and the PM remarks at the Wardha rally, Tharoor said for the country to have a prime minister with such "well documented and blatant disregard for minorities" is one of the "greatest tragedies" of the five years of the present ruling dispensation.

It is also a “severe blemish" on the record of the illustrious men and women who have held the post before him,” he said.

"But for all this bigotry, the BJP has still not managed to open their account in Kerala and their chauvinistic ideals have been repeatedly rejected by the people of the state," the 63-year-old leader said.

According to him, Kerala's educated and inclusive electorate is once again going to offer "the same boot" to the BJP's hopes in the state.

Tharoor asserted the Congress chief will be one of the rare leaders in the country who enjoys a clear and demonstrated popularity in both the south and the north if he wins from both Amethi and Wayanad.

“And, most important, the south will be galvanised by the fact that its concerns are unlikely to be ignored by such a leader, one who will walk into Parliament on the back of their support," he said.

Asked if Gandhi's fighting from south also boost his credentials as a prospective prime minister, Tharoor answered in the affirmative.

Gandhi's decision to contest from the south is part of a larger outreach to the southern states and to demonstrate his electability among the voters of the south, he said. At the same time, the Congress president is also reiterating the party's historic commitment towards an inclusive India, the author-politician said.

Comments

Shiju
 - 
Monday, 8 Apr 2019

If bjp has guts let them ask Modi to contest agaisnt Rahul in Wynad, KIerala.   Modi is not willing to contest from his own state also.  

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News Network
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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News Network
April 24,2020

Thiruvananthapuram, Apr 24: The month of Ramzan will be observed from Friday in Kerala.
The crescent moon was seen at Kappad beach in Kozhikode on Thursday.

Amid nationwide lockdown in the wake of COVID-19, there will be no group prayers at mosques. The devotees have been directed to offer prayers at homes.

Palayam Mosque Imam, VP Suhaib said, "Usually at mosques in Thiruvananthapuram, devotees used to come to break the fast... But this year, amid lockdown, we direct people to prepare food at home and break the fast with family. Also, there will not be group prayers at mosques. People should pray at home."
"Imams and scholars have strictly directed people to observe all Ramzan-related prayers at home. There is no other option... Human life is the most important thing. Only if life exists, belief and religion can exist," he added.

Prime Minister Narendra Modi had on March 24 announced a 21-day nationwide lockdown as a precautionary measure to contain the spread of COVID-19. Later, the lockdown was extended till May 3.

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News Network
July 23,2020

New Delhi, Jul 23: Riding high on foreign investors buying stakes in Jio Platforms, Reliance Industries Ltd Chairman Mukesh Ambani became the world’s fifth-richest person Wednesday, edging past American investor Warren Buffett on the real-time ranking of billionaires by Forbes. With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion.

Buffet had slipped down the rankings after donating more than $37 billion of Berkshire Hathaway Inc. stock since 2006 to charity. Berkshire Hathaway’s stock performance has also underwhelmed recently.

Amazon founder and CEO Jeff Bezos still sits at top in the richest list, with a net worth of $185.8 billion. He is followed by Microsoft co-founder Bill Gates with net worth of $113.1 billion and luxury group LVMH Moet Hennessy Louis Vuitton’s chief Bernard Arnault, with a net worth of $112 billion. Facebook CEO Mark Zuckerberg is at the fourth position in the Forbes list.

Shares of Ambani’s conglomerate have more than doubled since a low in March as its digital unit got more than $15 billion in investments from companies including Facebook Inc, Silver Lake, Intel, and most recently, Google. The US tech giant has committed a capital infusion of Rs 33,737 crore for a 7.7 per cent stake on Jio Platforms.

The total investment from financial and strategic investors into Jio Platforms stands at Rs 1,52,056 crore. RIL has raised a total of Rs 2,12,809 crore through a rights issue, the combined investments in Jio Platforms and investment by BP.

During the Reliance AGM last week, Ambani had said RIL has made its net-debt free ahead of a March 2021 target due to recent investments. Ambani said Jio has designed and developed a complete 5G solution that’s ready for launch as soon as spectrum is made available next year.

Jio and Google have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store, Ambani said.

RILs market value jumped to Rs 12.7 lakh crore or $170 billion on Monday, making it the 51st most valued company in the world. Between April 1 and July 13, RIL has gained $81 billion in market capitalisation and has climbed 47 places from being the 98th most valued company on April 1 to 51st most value company now.

The share price of RIL has risen by 120 per cent over the last four months for Rs 883 per share on March 23, 2020 to Rs 1,939 on Monday. Since April 22, when Facebook Inc announced an investment of Rs 43,574 crore in Jio Platforms for 9.99 per cent equity stake, Jio Platforms has announced investments by 12 other investors. The total investment by these 13 investors over the last 12-weeks amounted to Rs 118,318 crore.

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