India doesn't need 'Bechara' like Kumaraswamy: Jaitley

Agencies
July 16, 2018

New Delhi, July 16: Union Minister Arun Jaitley on Monday noted that India's leader cannot be a 'Bechara' (weak person).

Jaitley's comment came days after Karnataka Chief Minister HD Kumaraswamy broke down expressed his unhappiness at holding the Chief Minister's position in the Congress-Janata Dal (Secular) coalition government in the state.

"Listening to these statements of an Honourable Chief Minister, my memory took me back to the dialogues of the tragedy era of Hindi cinema. If this is the consequence of a two-party coalition, what is it that a disparate group of parties with no ideological similarity offer to India? India's Prime Minister and his Government have to overcome the challenges that India faces today. He cannot be seen like the Chief Minister of Karnataka as a tragedy king. If such a coalition is a cup of poison, why even dream of inflicting it on the nation? The leader of the world's fastest-growing economy cannot be a 'Bechara'," he wrote in a blog post.

Continuing his attack at the Karnataka government and the Opposition parties, Jaitley stated that developments in Karnataka were an obvious consequence of a non-ideological opportunistic alliance with no positive agenda, the basis of which, he said, was to 'Keep Modi Out'.

"Such non-ideological opportunistic coalitions always get trapped within their own contradictions. Their only object is survival and not service of the nation. Their longevity is a suspect. If the Prime Minister of such a coalition has to weep before the cameras with an only wish of how to exit from office, it will be a scenario worse than the policy paralysis of UPA II. The Congress firmly believes that only members of one family can rule India. If anybody else gets a chance, he should be pushed to the desperation of throwing his hands up and weeping publicly," he noted.

With regards to the formation of a third front ahead of the general elections in 2019, Jaitley opined that stable politics was far from the political track record of the "ideologically flexible political groups."

"A group of disparate political parties are promising to come together. Some of their leaders are temperamental; the others occasionally change ideological positions. With many of them, such as TMC, DMK, TDP, BSP and the JD(S), the BJP has had an opportunity to share power. Some amongst this disparate group have an extremely dubious track record of governance. Some leaders are maverick and others include those who are either convicted or charged with serious allegations of corruption. There are many whose political support base is confined to either a few districts or to a particular caste," Jaitley noted.

He continued, "To rule a large country like India through coalitions is possible but the nucleus of a coalition has to be stable. It must have a large size, an ideologically defined position and a vested interest in honest governance. A federal front is a failed idea. It was experimented under Shri Charan Singh, Shri Chandrasekhar and by the United Front Government from 1996-98. Such a front with its contradictions, sooner or later, loses its balance and equilibrium."

Jaitley also noted that if vote bank politics takes precedence over crucial matters of national interest, such as growing terrorism, rising crude oil prices and a possible trade war, such a government would be a liability.

"We need, for the next one decade and more, a high trajectory growth. To confront these challenges, India needs a strong and cohesive Government. More so, it means a decisive political leadership. It needs a Government which is able to resist unfair pressures of either allies or regions. It is the high growth rate, investment into rural India and the social sectors, credibility and strength of the Indian economy which will help us to be domestically strong to meet these challenges. A leadership unsure of itself meets the challenge of eliminating poverty and transforming the world's fastest growing economy into a developed nation?" he asked.

Addressing an event on Saturday, a teary-eyed Kumaraswamy claimed that he was swallowing the pain of a coalition government in Karnataka.

"People are standing with bouquets to wish me, as one of their brothers became Chief Minister and they all are happy, but I'm not. I know the pain of coalition government. I became Vishkanth (Lord Shiva) and swallowed pain of this government," he said.

Kumaraswamy further said he wanted to become the Chief Minister of Karnataka to solve the problems of the people and fulfill the unfinished agenda of his father and former prime minister, H D Deve Gowda.

Comments

Well Wisher
 - 
Tuesday, 17 Jul 2018

Dear Mr. Jaitley,
Kannadigas can tolerate this single bechara. no problem. But all Indians are no longer can tolerate bunch of becharas. They are just waiting for 2019

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News Network
May 28,2020

Pulwama, May 28: A major incident of a vehicle-borne IED blast was averted by the timely input and action by Pulwama Police, Central Reserve Police Force (CRPF) and Army, the Jammu and Kashmir Police said.

According to sources, Pulwama Police got credible information last night about a terrorist moving with an explosive-laden car ready to blast at some location. They took out various parties of police and security forces and covered all possible routes keeping themselves and the police and security forces away from the road at safer locations.

The suspected vehicle came and a few rounds were fired towards it. A little ahead this vehicle was abandoned and the driver escaped in the darkness. On close look, the vehicle was seen to be carrying heavy explosives in a drum on the rear seat. Possibly more explosive would be fitted elsewhere in the vehicle, sources added.

The vehicle was kept under watch for the night. People in nearby houses were evacuated and the vehicle exploded in situ by the Bomb Disposal Squad as moving the vehicle would have involved serious threat, sources said.

The vehicle reportedly sports a number plate of a scooter registered somewhere in Kathua district of Jammu zone, sources added.

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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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Agencies
February 11,2020

New Delhi, Feb 11: AAP chief and Delhi Chief Minister Arvind Kejriwal has won from New Delhi assembly seat. He polled 46,758 votes, which is 61.1 per cent of total votes polled in the high profile constituency.

Kejriwal defeated Sunil Kumar Yadav of the Bharatiya Janata Party (BJP), who polled 25,061 votes, which is 32.75 per cent of total votes polled. Congress candidate Romesh Sabhawarl could get only 3,220 votes.

So far, the AAP has won 55 seats and is leading on seven seats. The BJP has won seven seats and is leading on two. The Congress is nowhere in the reckoning.

As per the details on the website of Election Commission of India at 8.27 pm on Tuesday, the AAP has secured 53.60 per cent votes, BJP 38.49 per cent, BSP 0.71 per cent, CPI 0.02 per cent, CPI-M 0.01 per cent, Congress 4.27 per cent, JDU 0.90 per cent, LJP 0.35 per cent, NCP 0.02 per cent, and NOTA 0.46 per cent.

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