Will work with like-minded parties to defeat communal forces: Sonia

Agencies
February 8, 2018

New Delhi, Feb 8: Declaring that Congress president Rahul Gandhi was her boss too, Sonia Gandhi today said the process to revive the party's fortunes had begun and she would work with "like-minded parties" to ensure the BJP's defeat in the next elections.

The Congress Parliamentary Party (CPP) chairperson launched an all-out attack on the BJP and the Modi government and alleged that the government was orchestrating violence against minorities to polarise society for narrow political gains.

This would be seen in Karnataka too, which goes to the polls in a few months, the former Congress president, who handed over the party's reins to her son after 19 years in December last year, told the CPP.

Sounding an upbeat note, Gandhi told party MPs to work with dedication, loyalty and enthusiasm with Rahul Gandhi to strengthen the party and said he was her boss to.

"We have elected a new Congress president and on your behalf and on my own, I wish him all the very best. He is now my boss too - let there be no doubt about that - and I know that all of you will work with him with the same dedication, loyalty and enthusiasm as you did with me.

"I am confident that we will work cohesively under his leadership to revive our party's fortunes. That process has begun," she said.

Gandhi also dubbed the Modi government as one not in sync with reality.

This, she said, was evident in the prime minister's speech in the Lok Sabha yesterday.

As CPP chairperson, she said she would work with the Congress president and other colleagues "in discussions with like-minded, political parties to ensure that in the next election, the BJP is defeated and India is restored to a democratic, inclusive, secular, tolerant and economically progressive path".

Minorities, the Congress leader added, feel unsafe and are subjected to barbarous attacks, even as Dalits have come under renewed and widespread atrocities, as have women.

"In many cases this violence, specially against minorities and Dalits is not sporadic or random, but orchestrated to polarise our society for narrow political gains."

This was witnessed in both Uttar Pradesh and Gujarat and would no doubt be seen again in Karnataka, she said.

"Such polarisation is criminal in a democracy, yet those in power look the other way," she said.

Comments

Abu Muhammad
 - 
Thursday, 8 Feb 2018

Congrats Madam, this is very positive, realistic and need of the hour. Please beware of your own party leaders who are Congress in the day and RSS in night.

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News Network
January 7,2020

Mumbai, Jan 7: People protesting against the JNU violence were evicted from Gateway of India here on Tuesday morning as roads were getting blocked and tourists and common people were facing problems, a police official said.

Police had appealed to the protesters to shift but they didn't listen, so they were "relocated" to Azad Maidan, the official said.

Hundreds of people, including students, women and senior citizens - who assembled at the iconic Gateway of India since Sunday midnight - demanded action against the culprits and called for Union Home Minister Amit Shah's resignation.

Violence broke out in the Jawaharlal Nehru University (JNU) in Delhi on Sunday night as masked men armed with sticks and rods attacked students and teachers and damaged property on the campus.

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News Network
June 4,2020

New Delhi, Jun 4: India's Defence Secretary Ajay Kumar tested positive for COVID-19 on Wednesday, following which the defence ministry carried out a massive contact-tracing exercise, official sources said.

Kumar's condition is stable and he is currently under home-quarantine, they said.

At least 35 officials working at the ministry's headquarters in South Block in the Raisina Hills have been sent on home quarantine after reports of Kumar testing positive for the infection emerged on Wednesday morning.

There was no official comment on Kumar's health condition. The defence ministry spokesperson refused to comment on the issue.

It is learnt that Defence Minister Rajnath Singh did not attend office as part of a precautionary measure.

The offices of the defence minister, the defence secretary, the Army Chief and the Navy Chief are on the first floor of the South Block.

The sources said all laid down protocols on contact-tracing and quarantining of people are being scrupulously followed.

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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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