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CM Naidu slams PM Modi for doing injustice to AP

DHNS
March 16, 2018

Hyderabad, Mar 16: "Even a small child will say Narendra Modi has done injustice to Andhra Pradesh" said Telugu Desam Party President and Andhra Pradesh Chief Minister Nara Chandrababu Naidu on Friday hours after pulling out of the NDA.

Launching the attack on Modi from the state legislative council in Amaravati, where he introduced a resolution condemning the injustice meted out to the state, Naidu accused Prime Minister Narendra Modi of deliberately ignoring the state. This is the first time that Naidu ever took Modi's name and criticized.

When a BJP member tried to object on taking Modi's name, Naidu said, "If a person in the state does not get pension, they will criticise the chief minister. Same is the case with a prime minister". Naidu said that a vengeful centre will hound him but he is not afraid of anybody. "My state and its development are my only concerns. I can face any challenge in my journey towards this direction", he declared.

Naidu wondered how the Prime Minister is entertaining those accused in serious economic frauds. "What signals are you sending, by entertaining YS Jaganmohan Reddy and his party MP Vijay Sai Reddy who were accused in serious economic fraud cases. "Vijay Sai Reddy rushes to Bihar and releases his pictures with president nominee Ramnath Kovind. Does this not send signals to ED (Enforcement Directorate) and investigating agencies to be careful? "Naidu questioned Modi and BJP leadership. He saw a pattern in Jaganmohan Reddy getting relief in cases one after other.

The Chief Minister wondered why the PM could not spare an hour to talk on the issues concerning Andhra Pradesh, when MPs from the friendly party were agitating in the Parliament. Earlier during an informal chat with the reporters Naidu reportedly commented that if Nirav Modi was able to leave India happily, Jagan could also come out of cases.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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News Network
May 9,2020

May 9: Union Home Minister Amit Shah has said the West Bengal government is not allowing trains with migrant workers to reach the state that may further create hardship for the labourers.

In a letter to West Bengal Chief Minister Mamata Banerjee, Shah said not allowing trains to reach West Bengal is "injustice" to the migrant workers from the state.

Referring to the 'Shramik Special' trains being run by the central government to facilitate transport of migrant workers from different parts of the country to various destinations, the home minister said in the letter that the Centre has facilitated more than two lakh migrants workers to reach home.

Shah said migrant workers from West Bengal are also eager to reach home and the central government is also facilitating the train services.

"But we are not getting expected support from the West Bengal. The state government of West Bengal is not allowing the trains reaching to West Bengal. This is injustice with West Bengal migrant labourers. This will create further hardship for them," Shah wrote.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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