Master strategist Shah scripts history in BJP

July 9, 2014

New Delhi, July 9: The crowning of Prime Minister Narendra Modi's closest confidant Amit Shah as the new BJP President capped a phenomenal and rapid rise for the party's key election strategist who crafted an unprecedented victory in Uttar Pradesh.amit shah

In the process, the controversial yet politically suave Shah, 50, scripted history by becoming the youngest president of the party in which veterans have called the shots since its inception.

Considered an invaluable deputy to any neta, he has taken less than a year to catapult himself from a Gujarat BJP strongman to the party's supremo on the national stage.

Most leaders in the BJP agree that Shah, who was associated with the RSS in his early days, has earned every bit of his success.

What worked eventually in favour of Shah was his extra-ordinary political performance in UP where as BJP's general secretary in-charge he led the party to a dream run wresting 71 of the total 80 Lok Sabha seats in the politically crucial state.

Together with Apna Dal, a new ally which Shah got on board, the BJP won 73 seats in the state leaving a handful for the ruling SP and the Congress in the state.

Shah's organizational skills came in handy for the BJP in bordering Bihar as well where the party forged alliances with the LJP and OBC strongman Upinder Kushwaha to score a staggering 22 alone and 31 out of 40 seats with allies and reducing the state's incumbent JDU government to a virtual naught.

With his master act of scripting LJP leader Ram Vilas Paswan's return to the NDA fold after over a decade since Godhra riots, Shah managed a massive political makeover for his boss Modi, who had long been denounced by Paswan for the 2002 Gujarat riots.

That apart, Shah's poaching of LJP and Kushwaha who had been eager to ally with the Congress, forced political realignments in Bihar with the JDU and Lalu Prasad's RJD coming together to face the BJP's new political challenge.

UP, Bihar and Gujarat put together, Shah's stamp was visible in half of the total number of seats the BJP won in the 16th Lok Sabha elections, driving the party to its best ever performance under the Modi-Shah combine.

Political acumen apart, Shah's controversial past has continued to haunt him until lately. Accused of fake encounters involving Sohrabuddin Sheikh, Tulsi Prajapati among others, Shah spent three months in the Sabarmati jail before he secured bail in 2010.

The bail cleared the hurdles in the way of Shah's imminent rise in the BJP where he enjoys complete trust and backing of Modi. Shah was elevated as BJP's general secretary in-charge of UP where he had less than a year to deliver as LS polls drew near.

He executed his brief to perfection, eventually beating competition within the BJP to emerge as party president ahead of state elections in Haryana and Maharashtra this year and Jharkhand and J&K next year.

Shah's appointment reflects BJP's urge to consolidate its electoral gains further and expand its national footprint.

The BJP leader's rise equally marks a generational shift in the party which is more ready than ever to trust youngsters over veterans.

His elevation follows extensive debate within the RSS on whether to hand over party presidentship to a Gujarati when another Gujarati is head of the Government.

BJP insiders say the decision in favour of Shah was finally taken on grounds that his proximity to Modi would aid better coordination between the Government and the party, further strengthening the saffron surge.

The critics of Shah, who was booked for an alleged hate speech in UP during the poll campaign, is seen by critics as a highly polarizing figure.

That apart, Shah's political skills stand established beyond doubt and he carries the reputation of sticking to his brief and delivering.

Born in Mumbai in 1964, he was elected MLA from Gujarat's Sarkhej in four consecutive elections in 1997, 1998, 2002 and 2007. He later shifted his constituency to Naranpura Assembly seat in 2012.

As the right hand man of the then Gujarat CM Modi, Shah held several key portfolios including Home, where in 2010 he came under attack for allegedly orchestrating a fake police encounter.

Following this charge, Shah had to resign and was arrested though he continued to maintain that he was being witch-hunted by political opponents on the Congress side.

Shah later got bail on the condition that he won't stay in Gujarat. He was allowed to return to Gujarat only in 2012 when he won assembly elections from Naranpura.

Involved with the Rashtriya Swayamsevak Sangh (RSS) since childhood, Shah became RSS volunteer during his college days in Ahmedabad.

His first meeting with Modi happened in 1982 in Ahmedabad RSS circles when Modi was only a RSS pracharak.

Shah later joined the ABVP in 1983, the BJP in 1986 just a year ahead of Modi. Soon with his organizational skills Shah became an activist of Bharatiya Janata Yuva Morcha (BJYM) in 1987 and continued to rise in its hierarchy.

It was in 1995 when the BJP formed its first government in Gujarat under Keshubhai Patel that Modi and Shah together started working to expand party's base in a state where Congress had held sway for years.

Soon Modi replaced Patel as CM and Shah's political career flourished under the tutelage of Modi, whom he is known to fondly call 'saheb'. Shah has graduated with a B.Sc. degree in biochemistry and later worked for his father's PVC pipes business.

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Agencies
March 14,2020

New Delhi, Mar 14: Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices.

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Agencies
May 10,2020

In the wake of the gas leak at a factory in Visakhapatnam, the National Disaster Management Authority (NDMA) has issued detailed guidelines for restarting industries after the lockdown and the precautions to be taken for the safety of the plants as well as the workers.

In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures.

As a result, some of the manufacturing facilities, pipelines, valves may have residual chemicals, which may pose risk. The same is true for the storage facilities with hazardous chemicals and flammable materials, it said.

The NDMA guidelines said while restarting a unit, the first week should be considered as the trial or test run period after ensuring all safety protocols.

Companies should not try to achieve high production targets. There should be 24-hour sanitisation of the factory premises, it said.

The factories need to maintain a sanitisation routine every two-three hours especially in the common areas that include lunch rooms and common tables which will have to be wiped clean with disinfectants after every single use, it added.

For accommodation, the NDMA said, sanitisation needs to be performed regularly to ensure worker safety and reduce the spread of contamination.

To minimise the risk, it is important that employees who work on specific equipment are sensitised and made aware of the need to identify abnormalities like strange sounds or smell, exposed wires, vibrations, leaks, smoke, abnormal wobbling, irregular grinding or other potentially hazardous signs which indicate the need for immediate maintenance or if required shutdown, it said.

At least 11 people lost their lives and about 1,000 others were exposed to a gas leak at a factory in Andhra Pradesh''s Visakhapatnam on May 7.

The incident took place after it restarted operations when the government allowed industrial activities in certain sectors following several weeks of lockdown.

The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the coronavirus threat. The lockdown was then extended till May 3 and again till May 17.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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