Apologise if you can't fulfil black money promise:Oppn to govt

November 26, 2014

New Delhi, Nov 26: The government today came under a blistering attack from the opposition in Rajya Sabha on the issue of black money, with Congress asking it to apologise before people for "selling lies" or else fulfil the poll promise made to them.anand sharma

Initiating a discussion on black money, deputy leader of Congress Anand Sharma said that when the BJP leaders were in the opposition, they had "misled" the country by making tall promises of bringing back the black money stashed away abroad.

Sharma said Prime Minister Narendra Modi, during BJP's poll campaign, had claimed that black money was to the tune of Rs 85 lakh crore.

He said Modi had also said that black money stashed abroad is equal to five Union budgets and that it was enough to put Rs 15 lakh in the account of all Indian citizens.

The Congress leader said that after assuming office, there has been a change in stance of the Prime Minister and now the quantum of black money is no longer known.

"Today, November 26, 2014, exactly six months after the government has taken over, there is a three sixty degree turn on the issue...Earlier everything was known, now nothing is known," Sharma said.

He claimed that leaders of the ruling party were "neither sincere nor serious" in their talk about black money earlier.

Taking a dig at BJP's election slogan, he said "achche din (good days)" have come and people are waiting for Rs 15 lakh to be put in their accounts as promised to them.

He said that then BJP chief Rajnath Singh, now the Union Home Minister, had said that if BJP is voted to power, black money would be brought back within hundred days.

Sharma claimed that the UPA government had done a lot of work on the issue of black money. "What additional information has the government got in the last six months apart from the information that the UPA was able to obtain," he asked.

He asked the government to act and fulfil the poll promises and if they cannot they should tell the people, "We sold lies but now we will try as a government."

Sharma also expressed concern over the way black money can be circulated and could be at play in various sectors like real estate.

He said that in the last few years the debate on black money had been very very loud, very political and this issue had been used as a tool to attack the earlier government.

He also referred to the agitation led by yoga guru Ramdev on the issue.BJP MP Vijay Goel said Congress was attacking the Modi government on the issue of black money when it had not done much itself.

He said those blaming NDA on the issue, refuse to understand that it has only been in power for six months and steps have been taken to fulfil promises made to the people.

Goel said that it was for Congress to answer questions as to how black money was stashed abroad when the party ruled at the Centre. He said that for three years, despite Supreme Court orders, the UPA had not constituted an SIT on black money.

By constituting SIT, the Modi government had given a message that it was serious on the issue, he said.

Ramgopal Yadav (SP) said black money is a serious issue and it is weakening the real economy.

He said the government had made promises to the people and people had believed what Narendra Modi had said.

Yadav said NDA is in power and now it is its duty to get back black money.He said the consequences of not fulfilling these promises would not be pleasant.

Derek O'Brien (TMC) accused the BJP of running a multi-billion dollar election campaign and also alleged that the current government has no intention to bring back black money.

He said domestic black money comes back into the real estate and stock market via tax havens in the form of Participatory Notes (PNs). The TMC leader demanded that PNs should not permitted.

Senior JD-U Sharad Yadav said the government cannot bring back money stashed in off-shore accounts and demanded that the government should concentrate on recovery of non-performing assets of banks and create employment.

Yadav also took a jibe at Prime Minister Narendra Modi saying he himself has admitted in his 'mann ke baat' (aired on All India Radio) that no-one knows the amount of black money.

A Navaneethakrishnan (AIADMK) said government was capable of bringing back the illicit funds.

BSP chief Mayawati said huge quantity of illegal funds have been stashed in off-shore accounts since Independence and various political parties which ruled at Centre are responsible for that.

She said the main promise of BJP during elections was that black money would be brought back and every Indian would get Rs 15-20 lakh in their accounts. She said UPA government was not serious on the black money issue and so is the present BJP-led NDA government.

Terming the PNs as biggest source of black money, Sitaram Yechury (CPI-M) demanded ban on them. He said government should revisit most of the DTAAs.

Another way to deal with black money issue, he said, was electoral reforms to check poll spending of political spendings.

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News Network
May 12,2020

Thiruvananthapuram, May 12: Kerala Government on Tuesday issued modified guidelines for infrastructure arrangements and procedures to be followed to ensure smooth interstate movement of stranded persons during the lockdown.

"Necessary permission, if any, required from the State where you are presently located need to be taken for ensuring a smooth journey till Kerala border," read the order by the state government.

It has also made it clear that people will only be allowed to travel if they have the permit from the state government and local authorities.

"You are requested to start the journey only after receiving the travel permit from the Government of Kerala and the local authority of your present location to avoid any problem during travel. Those who reach at the check post without passes will not be allowed entry," it further read.

The orders by the government further read:

*To maintain social distancing norms, only 4 persons will be permitted to travel in a car, 5 in an SUV, 10 in a van and 25 in a bus. The maximum number of passengers in a van /bus will be half of the seating capacity).

*Keep sanitiser, use masks and maintain physical distancing throughout the journey.

*An exit and entry pass/passes shall be issued by the District Collectors to those persons who seek to go outside states to bring back their stranded child/ children, spouse and parent/s.

*Everybody including those coming from red zones shall remain under home quarantine for 14 days from the date of arrival.

*Only priority groups and persons will be allowed entry passes:

a) Those from neighbouring states seeking Medical aid in Kerala

b) Pregnant ladies with family

c) Family members including children separated due to lockdown

d) Students

e) Senior citizens with family members

f) Persons who had lost a job.

The guidelines further added that all luggage must be disinfected and temperature checks must be carried out with Infrared flash thermometer among other things.

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News Network
March 27,2020

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.

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Agencies
January 11,2020

New Delhi, Jan 11: The Supreme Court is scheduled to hear the curative petition of two death row convicts in 2012 Nirbhaya gang-rape case on January 14.

A five-judge Bench of Justices N V Ramana, Arun Mishra, R F Nariman, R Banumathi and Ashok Bhushan will hear the petition filed by Vinay Sharma and Mukesh.

The duo had moved a curative petition in the top court after a Delhi court issued a death warrant in their name and announced January 22 as the date of their execution.

Besides them, two other convicts named Pawan and Akshay are also slated to be executed on the same day at 7 am in Delhi's Tihar Jail premises.

They were convicted and sentenced to death for raping a 23-year-old woman on a moving bus in the national capital on the night of December 16, 2012.

The victim, who was later given the name Nirbhaya, died at a hospital in Singapore where she had been airlifted for medical treatment.

A curative petition is the last judicial resort available for redressal of grievances. It is decided by the judges in-chamber.

If it is rejected, they are legally bound to move a mercy petition. It is filed before the President who has the power to commute it to life imprisonment.

The court after issuing a black warrant in their name gave them two weeks' time to file both the curative and mercy petition.

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