Delhi bans trucks as world’s most polluted major city chokes

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

Hyderabad, May 19: Telangana Chief Minister K Chandrashekar Rao has hit out at the Narendra Modi-led NDA government over the fiscal stimulus package, accusing it of treating states like "beggars" and imposing "laughable" conditions for increasing borrowing limits under the FRBM Act.

"This is 'pure cheating. Betrayal. Jugglery of numbers. All gas. The Centre has reduced its own prestige," he said while referring to conditions linked to the increased borrowing limits for states under the Fiscal Responsibility and Budget Management (FRBM) Act.

Rao cited international journals that had commented on whether the Union Finance Minister's aim was to revive the GDP or to reach the Rs 20 lakh crore number (the stimulus package announced by Prime Minister Narendra Modi).

"This is a very cruel package. It is fully in a feudal policy and dictatorial attitude. We fully condemn this. This is not what we asked for," Rao, who had supported several measures taken by the Centre so far in the fight against coronavirus, said.

At a time when the finances of states were paralysed due to COVID-19 global pandemic, the state governments wanted funds to reach them so that they can help people in different forms, he said. "When we asked for it, you treat states like beggars, what did the Centre do? Is this the way reforms are implemented in India?" he asked during an interaction with media on Monday after a cabinet meeting.

For example, two per cent increase under the Fiscal Responsibility and Budget Management (FRBM) Act (about Rs 20,000 crore in Telangana) has been given.

But, the conditions put are "laughable" and "very nasty" though the loan was to be fully repaid by the state, he said.

Explaining the situation, Rao said Rs 2,500 crore would be given if reforms were implemented in power sector and Rs 2,500 crore would be allowed if reforms in market committees as suggested by the central government are accepted.

"Is this a package? What is this? This cannot be called a package. Very sorry.. This is not the policy to be followed in a federal system... Then what are the state governments for?" the Telangana Rashtra Samithi supremo asked and said they were also constitutional governments and not subordinates.

The CM said he felt anguished and the way the Centre was wielding control over states was against the spirit of federalism.

"Prime Minister ji said cooperative federalism. This has proved that it is totally hollow and bogus," he added.

The state, however, has already fulfilled certain conditions, he added.

On the occasion, Rao also outlined his government's certain policy guidelines for regulatory farming proposed to be implemented.

On the additional water proposed to be drawn by the neighbouring Andhra Pradesh from Srisailam project, he said there was no question of compromising on the states interests.

Flaying Opposition criticism against his government for allegedly failing to protect the state's interests, Rao said he had sought peaceful co-existence with all the neighbouring states.

Mumbai, Mar 7: Maharashtra Chief Minister and Shiv Sena president Uddhav Thackeray visited Ayodhya on Saturday to commemorate 100 days in office and pledged Rs 1 crore towards the building of the Ram Temple.

Taking a dig at BJP, Uddhav said his party had separated from its erstwhile ally but not Hindutva.

Recollecting the contribution of his father Balasaheb Thackeray, uddhav said he was forced to skip the Sarayu River 'aarti' due to Coronavirus fears but he would continue visiting Ayodhya.

Earlier in the day, the Sena, which heads the tripartite dispensation in the state, said there was no change in its ideology.

Launching a veiled attack on BJP, an editorial in the Sena mouthpiece 'Saamana' also said that Lord Ram and Hindutva is not the sole property of any single political party.

The Sena also said the Maha Vikas Aghadi (MVA) government — which also comprises the NCP and the Congress — has completed 100 days, much to the chagrin of those who were claiming that the new dispensation will not survive more than 100 hours.

“Those whose government lasted for 80 hours were claiming that the Thackeray regime will not last for even 100 hours. But this MVA government not only thrived but has instilled trust in the minds of people during this period with its performance,” the editorial said.

The Sena was apparently referring to the second inning of the erstwhile Devendra Fadnavis government which lasted for only 80 hours in November last year.

"Hence, CM Thackeray's visit to Ayodhya has to be welcomed as he is offering the flowers of works (done by the government) at the feet of Lord Shriram," it said.

The Sena said Thackeray's visit to the temple town is out of devotion for Lord Shriram. "The government in Maharashtra comprising three ideologically different parties is working as per Constitution and Thackeray is leading such government," it said.

The edit said on this background various questions were raised over Thackeray's visit to Ayodhya by his political opponents. "The government maybe backed by anyone, but Uddhav Thackeray and the Shiv Sena remain the same from within and outside. There is no change in the ideology. Lord Shriram and Hindutva is not the property of any single party," it stated.

Referring to senior RSS leader Suresh 'Bhaiyyaji' Joshi's remark that the Hindu community is not synonymous with the BJP and that opposing the BJP does not amount to opposing Hindus, the Sena said similarly Ayodhya belongs to all.

"The political and cultural battle in Ayodhya is now over. The Supreme Court cannot be thanked enough for this (for its verdict in the Ram Janmabhoomi-Babri Masjid dispute case that allowed construction of the Ram temple)," it said.

Hailing the Supreme Court's November, 2019 verdict, the Sena said the country had to fight a big battle to prove that Ayodhya belonged to Lord Shriram.

"In that battle, several (people) were unmasked. But only (late) Shiv Sena president Balasaheb Thackeray stood behind the Ayodhya (temple) campaigners like a mountain," it said.

Bal Thackeray created trust among Hindus from across the world about the creation of the temple, the Sena said. The party further said late Thackeray's assertion that he was proud if the Babri mosque was razed by Sena workers and that the temple of Lord Ram would come up in Ayodhya was akin to the thunder of "thousands of lightnings" in the sky.

"The Hindu culture got lit up in the glow of that lightning. The resplendent rays showed the path of power to the Hindu community. Hence, no one can deny the contribution of the 'Hinduhridaysamrat' (Bal Thackeray) as good as that of Lord Shriram, in creating the current political order in the country," the Sena said.

"We have experienced several times that Balasaheb lives in the mind of Ayodhya. Now Uddhav Thackeray himself is going there with the same faith. He had gone there when not in power. He is going there now after becoming chief minister with the same humility. Lord Shriram is of everyone," the Sena said.

The party said Maharashtra is being run on the path shown by Lord Shriram and Chhatrapati Shivaji Maharaj. "A Ram Rajya entails fulfilling promises made to the people. This is precisely what Mahatma Gandhi wanted, and the government following this ideology is in place in Maharashtra. It will continue work on that line. Ultimately, Lord Shriram is there to support it," the Sena said.

Thackeray completed 100 days in the office on Friday. He had assumed office as the chief minister of the Sena-led Maha Vikas Aghadi (MVA) government on November 28 last year, after the Sena joined hands with the NCP and the Congress.

Senior Sena leader Sanjay Raut had said that Thackeray will not take part in the 'aarti' programme on the banks of river Sarayu in the temple town.