AAP ready to form government, run it better than others: Arvind Kejriwal

December 21, 2013

New Delhi, Dec 21: Strongly indicating that Delhi's wait for a government could be over soon, Aam Aadmi Party leader Arvind Kejriwal said auditing of power companies and legislating the Jan Lokpal bill would be top priorities for the new city government.aravind_kejri

Though he added the proviso that a formal announcement on government formation will await till a referendum AAP is conducting is over, Kejriwal asserted AAP would do a much better job than traditional parties like BJP and Congress if it assumed office.

AAP has to take a formal decision on whether it is accepting the outside support of eight Congress MLAs that will take its numbers in the 70-member Delhi assembly to the halfway mark of 36.

Dismissing the view aired in Congress and BJP circles that AAP will find running a government a challenging task, Kejriwal said, "Sarkar chala ke dikhayenge, inse achchi chala ke dikhayenge aur thok baja kar chala kar dikhayenge (We will run a government, we will do a better job and do so with elan)."

The confident AAP leader looked set to become Delhi's next chief minister, saying the apprehension that the party will stumble once in office is not a valid assessment. "I just want to say that political parties should stop challenging us. First they said they (AAP) won't get candidates, then they said we can't get elected. Now we have won 28 seats."

Kejriwal said mainstream parties continue to underestimate AAP. "I want to tell them: stop challenging the power of the aam aadmi. They have no idea how powerful the aam aadmi is. They have made it appear we will not be able to run the government. Governance is not like going to the moon. We will run the government better than them."

On the ongoing referendum, Kejriwal was non-committal. "We have received both points of view, some who feel we should stay away from politics and have nothing to do with it and there are others who feel that we should form government. There is nothing unethical in either. It is a political decision. We will completely go by public opinion," he said.

But senior AAP leader Manish Sisodia indicated where the ongoing referendum is headed, saying, "We are receiving overwhelming support for our decision to form the government. There is no reason not to form government." The party is expected to make an announcement by Monday.

Kejriwal, who is gearing up for two days of jan sabhas across the city, also dismissed sceptics who criticized the party's manifesto as a pie in the sky.

Asked how promises like auditing of power companies or provision of 700 litres of water for every household will be fulfilled, he said, "Our manifesto has been carefully thought out after public consultation. It is practical and implementable. Congress has not been able to fulfill its 1998 manifesto so why are they are challenging us? It is our priority and we will achieve it."

He asserted that if Congress or BJP withdrew support on a bill, the parties will risk being exposed. "The public does not expect the moon. They will understand that if we bring a bill and Congress and BJP do not support us, it is these parties who will be exposed. The government is being made on issue-based support," he said.

Having decided to step up to the table, AAP's pitch for the 2014 polls seems underway. The referendum, Kejriwal said had made their party a talking point even among those who had not supported them earlier.

He added, "It is important to realize that we are redefining democracy. People are already talking about our party and feeling empowered. The process is important for us."

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News Network
March 23,2020

New Delhi, Mar 20: Prime Minister Narendra Modi on Monday appealed to state governments to ensure that rules and regulations of the coronavirus lockdown are enforced as he noted that many people are not taking the measure seriously.

"Many people are still not taking the lockdown seriously. Please save yourself, save your family, follow the instructions seriously. I request state governments to ensure rules and laws are followed," he said in a tweet in Hindi.

The Centre and state governments have decided to completely lock down 80 districts across the country where coronavirus cases have been reported.

Uttar Pradesh, Maharashtra, Punjab, Karnataka, Tamil Nadu and Kerala announced lockdown in many districts.

Delhi will be locked down from 6 am on March 23 till midnight on March 31.

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News Network
May 25,2020

New Delhi, May 25: Realtors' apex body CREDAI has written a letter to Prime Minister Narendra Modi, seeking immediate relief measures to tide over the crisis caused by the COVID-19 pandemic.

The association, which has around 15,000 developer members, has sought one-time debt restructuring, lower interest rate on home loans and tax sops to boost liquidity and demand in the sector.

In an open letter to the prime minister, the Confederation of Real Estate Developers' Associations of India (CREDAI) said, "In this distressful situation arising out of the COVID-19 calamity, we in the real estate sector seek immediate relief for our survival."

Stating that the sector contributes substantially to the country's GDP and has backward and forward linkages with almost 250 industries, CREDAI said, "Our survival, therefore, is not just desirable, it is rather crucial for the economy."

Liquidity crunch, stagnant demand and cartelization of raw materials are major impediments for the industry to kickstart, it added.

CREDAI made seven recommendations to revive the sector and sought immediate intervention from the prime minister.

Pointing out that the situation is "much worse" than global financial crisis in 2008, CREDAI said "a one-time restructuring scheme as was permitted by RBI in 2008 may be quickly instituted by all lending institutions."

Since real estate was already reeling under a cyclical downturn before COVID-19, debt restructuring needs to be allowed for all accounts which were standard as on December 31, 2019, it added.

CREDAI demanded that all banks, non-banking financial companies (NBFCs) and housing finance companies (HFCs) should be directed to provide additional credit equal to 20 per cent of the existing real estate project related advances with no additional security and without the classification of project as NPA.

The penal interest charged by banks and financial institutions should be suspended for a period of one year or until such time as it takes for the pandemic to abate.

To revive housing demand, CREDAI suggested that "government should reduce the maximum rate of interest on new home loans to 5 per cent by subsidizing the interest component of EMIs for next five years."

The limit of principal deduction on housing loan under Section 80C should be increased to 2.5 lakh.

Interest deduction under Section 24 on housing loan for homebuyers may be increased to Rs 10 lakh, it said.

There should be no capital gains for residential properties held for a period longer than one year.

CREDAI also demanded that the subvention scheme be allowed again by National Housing Bank (NHB) and the Reserve Bank.

Under the scheme, builders used to pay EMIs on behalf of homebuyers during construction of projects.

"The economic uncertainty and job insecurity at the moment would not allow purchase of residential property at this time. A scheme whereby a homebuyer would need to pay only margin money with no EMI for 24 months will address this insecurity," the letter said.

The association pointed out that prices of cement and steel have been increased during the lockdown period, and asked for crackdown on cartelisation by manufacturers.

On the GST front, CREDAI said that the current regime of GST provides a rate of 1 per cent  for affordable housing.

"The limit of Rs 45 lakh serves as a criterion of affordability for the purpose of GST. On all other housing, GST is applied at the rate of 5 per cent without input tax credit. It has been felt that the criterion of Rs 45 lakh is too low an index of affordability anywhere across the country, and especially so in the metros," the letter said.

It will serve as an inducement to buyers in the metros if the benefit of GST at the rate of 1 per cent is extended to units costing up to Rs 75 lakh, the association said.

CREDAI pointed out that the flat rate of 5 per cent GST for under construction residential housing is causing cost build up and is acting as a deterrent for sale of under construction projects since there is no GST on completed units.

It suggested that GST rate of 1 per cent and 5 per cent, without input tax credit, should continue.

"However, an option of GST @12 per cent for normal housing/ 8 per cent for affordable housing (with 1/3rd deduction for land i.e. effective GST rate of 8 per cent for normal housing and effective GST rate of 5 per cent for affordable housing) with input tax credit (ITC) benefits in line with the scheme applicable for the works contracts for government may be revived and made applicable to the real estate," the letter said.

Lastly, CREDAI demanded that a Rs 25,000 crore stress fund for completing stalled housing projects should be deployed at the earliest.

"We shall be grateful for your much-needed intervention for the above mentioned measures required to revive the real estate sector," CREDAI said in the letter to the PM.

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News Network
May 13,2020

Lucknow , May 13: Samajwadi Party chief Akhilesh Yadav on Wednesday took a jibe at Prime Minister Narendra Modi over announcing Rs 20 lakh crore special economic package to boost the economy saying that the Centre is again making "false promises to 133 crore Indians".

"Earlier, you promised Rs 15 lakh and now Rs 20 lakh crore. You have made false promises 133 times with 133 crore Indians. How can someone trust you this time? People now are not asking how many zeroes there are but how many false promises have been made," he tweeted (translated from Hindi).

Yesterday, Prime Minister Narendra Modi had announced a Rs 20 lakh crore economic stimulus package for the country fighting COVID-19, stating that it will give a new impetus and a new direction to the self-reliant India campaign.

The Prime Minister had also announced that the fourth phase of lockdown will be completely redesigned with new rules and will commence from May 18.

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