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
January 7,2020

Washington, Jan 7: Facebook will ban deepfake videos ahead of the US elections but the new policy will still allow heavily edited clips so long as they are parody or satire, the social media giant said Tuesday.

Deepfake videos are hyper-realistic doctored clips made using artificial intelligence or programs that have been designed to accurately fake real human movements.

In a blog published following a Washington Post report, Facebook said it would begin removing clips that were edited--beyond for clarity and quality--in ways that "aren't apparent to an average person" and could mislead people.

Clips would be removed if they were "the product of artificial intelligence or machine learning that merges, replaces or superimposes content onto a video, making it appear to be authentic," the statement from Facebook vice-president Monika Bickert said.

However, the statement added: "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words."

US media noted the new guidelines would not cover videos such as the 2019 viral clip -- which was not a deepfake -- of House Speaker Nancy Pelosi that appeared to show her slurring her words.

Facebook also gave no indication on the number of people assigned to identify and take down the offending videos, but said videos failing to meet its usual guidelines would be removed, and those flagged clips would be reviewed by teams of third-party fact-checkers -- among them AFP.

The news agency has been paid by the social media giant to fact-check posts across 30 countries and 10 languages as part of a program starting in December 2016, and including more than 60 organisations.

Content labeled "false" is not always removed from newsfeeds but is downgraded so fewer people see it -- alongside a warning explaining why the post is misleading.

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Agencies
July 6,2020

The Covid-19 pandemic has made an unprecedented impact on the Indian businesses, particularly small and medium enterprises (SMEs) and startups. According to a joint survey by FICCI and Indian Angel Network (IAN), the pandemic has hit the businesses of around 70% startups.

With uncertainty in the business environment and an unexpected shift in priorities of the government as well as corporates, many startups are struggling to survive, it says.

In a nationwide survey on the 'Impact of Covid-19 on Indian Startups' involving 250 startups, 70% participants said their businesses had been impacted by Covid-19 and around 12% had shut operations.

The survey shows only 22% startups have cash reserves to meet the fixed cost expenses over the next 3-6 months, and 68% are reducing operational and administrative expenses.

Around 30% of the companies said they would retrench employees if the lockdown was extended too long. The 43% startups have already started 20-40% salary cuts over April-June.

Over 33% startups said investors had put the investment decision on hold and 10% said the deals had been scrapped. Only 8% startups had received funds as per the deals signed before Covid-19 outbreak, the survey revealed.

The reduced funding has forced startups to put a hold on business development and manufacturing activities, which has resulted in loss of projected orders.

The survey highlights the need of an urgent relief package for startups, including possible purchase orders from the government, tax relief and swifter tax refunds, and immediate fiscal support measures, including grants, soft loans and payroll grants.

Besides 250 startups, 61 incubators and investors also participated in the survey.

While 96% of investors accepted that their investments in startups had been impacted by Covid-19, 92% said their investments in startups would continue to be low over the next six months.

Around 59% investors said they would prefer to work with the existing portfolio firms in the coming months. Only 41% said they would consider new deals.

"A comparison of priority investment sectors before and during Covid-19 shows 35% investors are now looking at investments in healthcare startups, followed by EdTech, AI/Deep Tech, FinTech and Agri," said the survey.

Around 44% incubators surveyed said their day-to-day operations had been considerably hit by Covid-19. Most incubators are now supporting their portfolio firms by providing them virtual platforms to interact with mentors, investors and industries.

Dilip Chenoy, FICCI Secretary General, said, "The startup sector is stressed for survival at the moment. The investment sentiment is also subdued and is expected to remain so in the coming months. Lack of working capital and cash flows may lead to major layoffs over the next 3-6 months."

Indian startups needed an enabling ecosystem and flow of funds to continue operations, the survey said.

Padmaja Ruparel, President, Indian Angel Network & Co-Chair of FICCI Startup Committee, said, "In these uncertain times, as investors, we must play an important role to provide the Indian startups funding, mentoring and hand-holding support to stay afloat and come out at the other end of this crisis."

To that end, IAN recently announced a debt fund to help IAN portfolio companies raise working capital and ensure business continuity by partnering with debt providers.

This must be replicated on a wider scale, so a larger number of startups are provided the capital support to make it during these tough times, Ruparel said.

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Agencies
July 19,2020

New Delhi, Jul 19: Indian equities will be driven by a host of factors like corporate earnings, coronavirus cases trend and geo-political developments this week, according to analysts.

Market participants will also keenly watch the progress of monsoon, with experts saying that the farm sector revival will play a key role in lifting the coronavirus-hit economy.

"With no major event, the ongoing earnings season and global cues will continue to dictate the market trend. Besides, the progress of monsoon will also be closely watched," Ajit Mishra, VP - Research, Religare Broking, said.

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front.

With India's COVID-19 cases fast approaching the 11 lakh mark, the third-highest behind the US and Brazil, and the death toll nearing 27,000, participants are expected to tread cautiously going forward.

At global level, confirmed COVID-19 cases have crossed 1.4 crore and deaths totalled about 6 lakh.

Markets globally will closely follow developments on the trade and political level between the US and China, according to analysts.

"We would continue witnessing stock-specific action as the earnings season unfold. Though the near-term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank will remain in focus on Monday after having announced its June quarter earnings on Saturday.

The lender reported 19.6 per cent rise in its standalone net profit at Rs 6,658.62 crore for April-June 2020; while its income rose to Rs 34,453.28 crore during the quarter.

Other major companies to announce their quarterly results this week are Axis Bank, Bajaj Finance, Hindustan Unilever Limited, Bajaj Auto and ITC.

"Going ahead market participants will closely track the development related to covid vaccine, the rising infection of coronavirus, development on economic activities, corporate earnings and US-China relationship," said Sumeet Bagadia, Executive Director, Choice Broking.

On weekly basis, the Sensex gathered 425.81 points or 1.16 per cent, and the Nifty gained 133.65 points or 1.24 per cent.

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