Sonia Gandhi tells UPA govt: Time’s running out, so perform

May 23, 2012

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New Delhi, May 23: Marking the third anniversary of the UPA II government, Congress chief Sonia Gandhi on Tuesday put the ruling coalition in poll mode, warning her party and allies that they have two years to get their act together as UPA-2 can hope to renew its mandate in 2014 only on the basis of performance rather than promises.

Her remarks came after Prime Minister Manmohan Singh in his speech acknowledged that people were angry and frustrated over corruption. "We know there is public frustration and anger over the issue of corruption. I wish to assure our people that we are working sincerely to address the issue," the PM said in a candid acknowledgement of the problem which is seen as having sapped the goodwill for the government.

Sonia outlined the task ahead, saying, "We are aware that only two years are left when we will be seeking a new mandate from the people. We are fully aware that the result of that will not depend on our promises but on the nature of work done by us."

The wake up call came as the government utilised a function at Prime Minister Manmohan Singh's residence to rebut the damaging charge that UPA-2 was in the grip of a "policy paralysis" by releasing a report that talked of a robust economy and ambitious welfare schemes.

Responding to questions, the PM also pitched in, saying, "The perception (of a policy paralysis) can be misplaced. It can be corrected by reality. The facts can correct the perception."

The function gave the government an opportunity to showcase its numbers in Parliament with Samajwadi leader Mulayam Singh Yadav finding pride of place next to home minister P Chidambaram. A seat for RJD leader Lalu Prasad as well underlined the coalition's comfortable majority in Lok Sabha.

It was Sonia's speech at the dinner to mark three years of UPA-2 that set the tone on a humid May evening when she said that while "opponents were being loud and aggressive, and leveling irresponsible charges", the government must concentrate on working hard and fulfilling its objectives.

On corruption, the PM said the government was trying to set up Lokpal and make a law for time-bound delivery of public goods and services and judicial accountability. "We are trying to ensure exemplary punishment to the guilty while also ensuring that public servants feel secure in taking bona fide decisions that are in the national interest," he further said.

Congress leaders pointed out that since the last six months of a government's terms are invariably overtaken by the dynamics of elections, the government just about has 18 months to deliver on big issues like corruption and the economy. They interpreted Sonia's speech as a reminder that the window for tackling the challenges of perception of sleaze, as well as a slowing economy and stubborn inflation, is rather small.

Reverses in state and civic polls show that the government has reasons to worry. Although the BJP is also in a disarray, many in Congress feel that voters may decide to punish the incumbent without being concerned about political stability.

However, Sonia, who is also UPA chairperson, struck an upbeat note. "There is no room for disappointment (nirasha) even as the country faces a challenging economic situation," she said, pointing to UPA-2's achievements, particularly those that have benefitted the disadvantaged through health insurance and rural employment guarantee schemes.

Sonia's unambiguous remarks can be seen as a early poll bugle as the government has been immersed in crisis management, with the latest preoccupation being managing the presidential election in the face of conditions imposed by assertive allies like Trinamool Congress.

The well-filled stage would give Congress managers some respite as those on stage represent a comfortable majority in Lok Sabha, enough to ensure the ruling coalition lasts its full term.


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News Network
July 22,2020

New Delhi, Jul 22: Congress leader Sachin Pilot has served a legal notice to party MLA Giriraj Malinga, for claiming that the former had offered him money to join the BJP.

"Former Rajasthan Deputy Chief Minister Sachin Pilot has served a legal notice to Congress MLA Giriraj Malinga for his Rs 35 crore bribery allegation," a source close to Pilot said.
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Earlier, addressing a press conference, Malinga said, "Those MLAs who are stuck either in Haryana or Jaipur, are running after money. To say, they are not, are false claims. Even I was offered the same by Pilot, which I had refused. Came to this party knowing BJP and Congress do not accept money to give tickets."

When asked by the reporters whether he was offered Rs 35 crore, he claimed by saying, "Yes, 35." The MLA claimed he was himself the prove when the reporters asked for the same.

The political situation in Rajasthan is in turmoil after Chief Minister Ashok Gehlot sacked his then-deputy Sachin Pilot and the latter's confidants from his council of ministers. The Congress has also claimed that BJP was trying to buy its party MLAs.

On Monday, the Rajasthan High Court had said that it would hear the petition filed by Pilot and 18 of his loyalist MLAs on July 24, against the disqualification notices issued against them, a lawyer said.

"The arguments in the matter have been concluded. The court has heard the arguments from all the parties. The High Court has slated the matter for orders on July 24," Advocate Prateek Kasliwal told reporters after the hearing. 

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News Network
June 19,2020

Jun 19: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

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News Network
March 11,2020

New Delhi, Mar 11: Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of “destabilising” the elected Congress government in Madhya Pradesh.

Gandhi also said the PM may have “missed” noticing the 35 per cent crash in global oil prices and asked him to pass on the benefit to Indians by slashing petrol prices.

“Hey @PMOIndia, while you were busy destabilising an elected Congress Govt, you may have missed noticing the 35 per cent crash in global oil prices.

“Could you please pass on the benefit to Indians by slashing #petrol prices to under 60 per litre? Will help boost the stalled economy,” the former Congress chief said on twitter.

Congress' prominent youth leader Jyotiraditya Scindia quit the party on Tuesday and appeared set to join the BJP amid a rebellion in Madhya Pradesh by his supporters, pushing the 15-month-old Kamal Nath government to the brink of collapse.

On Tuesday morning, as much of India was celebrating Holi, Scindia met senior BJP leader and Union Home Minister Amit Shah, following which he called on Prime Minister Narendra Modi at his 7, Lok Kalyan Marg residence.

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