Modi govt working for 'New India'; has given hope to people: President Kovind

Agencies
January 31, 2019

New Delhi, Jan 31: Presenting a virtual report card of the Modi government's tenure, President Ram Nath Kovind Thursday highlighted its various development works and commitment to social justice, as he asserted it has worked to build a " New India" after assuming power in 2014 when the nation was passing through "uncertain times".

In his address to the joint sitting of Parliament at the beginning of the Budget Session, Kovind also referred to the contentious Rafale deal, saying that the Indian Air Force will welcome the ultra-modern fighter aircraft in the coming months to strengthen its strike capability after a gap of many decades.

The President's address, which reflects the government's view, assumes significance as it comes ahead of the Lok Sabha polls, expected to be held in April-May.

The 10 per cent reservation for the general category poor, the triple talaq legislation and the controversial Citizenship Amendment Bill also figured in his over an hour-long speech at Parliament's central hall in the presence of Vice President M Venkaiah Naidu, Prime Minister Narendra Modi, Congress president Rahul Gandhi, Union ministers and other MPs.

"Prior to the 2014 General Election, the country was passing through a phase of uncertainty. After the elections, my government assumed charge and vowed to build a New India. A New India with no place for imperfect, corrupt and inertia ridden systems," he said.

In the last four and a half years, the government has infused new hope and confidence among the people of the country, enhanced the country's image and has effectively brought in social and economic change, he said.

From day one, the government's mission, based on transparency, was to improve the lives of citizens, to eradicate their difficulties owing to poor governance, and to make sure that the benefit of public services reach the lowest strata of the society, he said.

Highlighting the government's achievements and various welfare schemes, Kovind said 21 crore poor people were covered under the PM's life insurance scheme, while over 2 crore households got power connection as part of the Saubhagya scheme.

"Under the Swachh Bharat initiative, the government has built nine crore toilets," he said.

The president also described 2019 as a significant year for democracy as the country is observing the 150th birth anniversary of Mahatma Gandhi.

Be it cities or villages, the government has worked towards strengthening the health care infrastructure by building new AIIMS and wellness centres across the country, he said.

"The country was going through times of uncertainty before the 2014 Lok Sabha elections, and after the polls my government resolved to make a New India," the president said.

Highlighting the governments achievements and various welfare schemes, Kovind said 21 crore poor people were covered under the PM's life insurance scheme, while over 2 crore households got power connection as part of the PM's Saubhagya scheme.

"Under Swachh Bharat initiative, the government has built nine crore toilets," he said.

Touching on the triple talaq bill, which has been stuck in Rajya Sabha due to stiff opposition after being passed in Lok Sabha, he said the BJP-led NDA government is striving hard to get the triple talaq bill passed by Parliament to "liberate Muslim daughters" from a life of fear and anxiety and to provide them with equal right.

On the Rafale issue, the President said the government believes that neglecting the country's defence needs even for a moment is detrimental to the present as well as future of the country.

"After a gap of many decades, the Indian Air Force is preparing to welcome, in the coming months, its new generation ultra-modern fighter aircraft Rafale and strengthen its strike capability," he said.

India displayed its new policy by carrying out surgical strikes on terror launch pads across the border, he said.

Citing other achievements of the government, Kovind said the number of people filing Income Tax returns have doubled from 3.8 crore to 6.8 crore under its tenure and added that over 73 per cent of around 15 crore Mudra loan beneficiaries are women, he said.

Approvals for works costing over Rs 66,000 crore out of Rs 80,000 crore package have been given by the government for development in Jammu and Kashmir, he said, asserting that the government to committed to the state's growth.

Comments

Wellwisher
 - 
Thursday, 31 Jan 2019

Yes it is revealed yseterday in Luknow - they short on Father Of  Nations Gandhijis statute. Then what else India want.  Patriot Indians  all understood if they lead the central govt India never develop.  US Spymater already

announced their report before election what is our Moadi govt intention and agenda.

Abdullah
 - 
Thursday, 31 Jan 2019

wah re wah... Bade k RSS Tattooo....

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
July 10,2020

United Nations, Jul 10: India is a "good example" as solar auctions have seen popularity amidst the height of the COVID-19 pandemic, UN chief Antonio Guterres said on Thursday, underlining that renewable energy is the only energy source expected to grow in 2020 and offers more jobs than the fossil fuel industry.

In his remarks to the International Energy Agency "Clean Energy Transition Summit'', UN Secretary-General Guterres urged the international community to commit to further usage of coal and to end all external financing of coal in the developing world.

"Coal has no place in COVID-19 recovery plans. Nations must commit to net-zero emissions by 2050 and submit more ambitious national climate plans before COP-26 next year," he said.

"The seeds of change are there. Renewable energy is the only energy source expected to grow in 2020. Solar auctions have seen popularity amidst the height of the pandemic. India serves as a good example. Renewables offer three times more jobs than the fossil fuel industry," Mr Guterres said.

Last month, Adani Green Energy said it has bagged the first of its kind manufacturing-linked solar contract worth Rs 45,000 crore from the Solar Energy Corporation of India (SECI) to develop 8 GW electricity generation capacity and 2 GW equipment manufacturing facility in the country.

Mr Guterres said he has asked all countries to consider six climate positive actions as they rescue, rebuild and reset their economies.

"We need to make our societies more resilient. We need green jobs and sustainable growth," he said, adding that bailout support to sectors such as industry, aviation and shipping should be conditioned on alignment with the goals of the Paris Agreement.

Countries also need to stop wasting money on fossil fuel subsidies and place a price on carbon, he said, noting that countries need to consider climate risk in their decision making.

"Every financial decision must take account of environmental and social impacts. Overall, we need to work together," he said.

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News Network
January 15,2020

Mumbai, Jan 15: A relative of Maharashtra Chief Minister Uddhav Thackeray was killed and three others injured when their car met with an accident on Mumbai-Nashik highway, police said on Wednesday.

The mishap took place at Sinnar in Nashik on Tuesday night when the CM's sister-in-law Vina Karande and six other relatives were returning from Shirdi in a sports utility vehicle (SUV), Nashik (Rural) Superintendent of Police Aarti Singh said.

The car driver apparently lost control over the wheels, following which the vehicle overturned on a roadside while passing through a narrow bridge, located around 190 km from here, the official said.

They were rushed to a hospital in Nashik where Ajay Karande, husband of Vina Karande, died during treatment, the official said.

The three others were undergoing treatment at the hospital, the police said, adding that their condition was reported to be out of danger.

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