Team Anna spreading canards about me: PM

June 5, 2012

Mohan__AnnaNew Delhi, June 5: First, Congress president Sonia Gandhi lit into the Opposition; then a combative Prime Minister Manmohan Singh took on Team Anna, without naming it, for the second time in a week, sharply attacking its members for spreading “canards and falsehoods” about him and his senior Ministers. On Monday, as the extended Congress Working Committee (CWC), the party's apex decision-making body, met at the Parliament House Annexe here, the two top leaders concentrated their firepower not just on their political rivals, but on all those holding them responsible for a range of ills, from corruption to policy paralysis.

But if the duo's sights were set on the government's critics, most of the 42 speakers at the day-long meeting, CWC sources told The Hindu, stressed that charges of corruption and high prices — including the recent hike in the petrol price — were together devastating the government and the party. This even though the Prime Minister spoke of his government taking “action on multiple fronts” to tackle “the menace of corruption” and Finance Minister Pranab Mukherjee explained how the prices of petroleum products could be rationalised with the cooperation of State governments, while giving the CWC members an overview of the grim economic situation and the steps planned to reverse it. Member after member said it was getting difficult to justify to their constituents the massive hike in petrol price.

Though there was no dissent, there was a great deal of candour, reflecting the desire in the party for changes that could dramatically lift the Congress' sagging fortunes.

Haryana Chief Minister Bhupinder Singh Hooda, CWC sources said, suggested another “Kamaraj Plan” (in 1963, senior Congress leader K. Kamaraj had suggested that all senior party leaders quit their ministerial posts to devote their energies to re-vitalise the Congress). Offering his own resignation as a start, Mr. Hooda urged Ms. Sonia Gandhi to take tough decisions like Indira Gandhi.

Several speakers, including special invitee Mohinder Singh Kaypee, also underscored the need for younger leaders to come forward, with CWC permanent invitee and former Chhattisgarh Chief Minister Ajit Jogi saying Congress general secretary Rahul Gandhi must play a larger role in the party. Asked whether the subject of greater responsibilities for younger people was raised, Mr. Mukherjee told journalists: “The discussion was informative; members were candid. Younger leaders will have to come forward — the older chaps cannot continue for ever.”

Coalition blues

The problems of dealing with coalition partners also surfaced, with Maharashtra Pradesh Congress Committee president Manikrao Thakre and his West Bengal counterpart Pradip Bhattacharya complaining about the Nationalist Congress Party and the Trinamool Congress — parties with which the Congress shares power in the two States: the two men, separately, the CWC sources said, expressed the view that the Congress should go it alone and build up its own organisations.

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News Network
January 14,2020

Chennai/New Delhi, Jan 14: India's annual electricity demand in 2019 grew at its slowest pace in six years with December marking a fifth straight month of decline, government data showed, amid a broader economic slowdown that led to a drop in sales of everything from cars to cookies and also to factories cutting jobs.

Electricity demand is seen as an important indicator of industrial output in the country and a sustained decline could mean a further slowdown in the economy.

India's power demand grew at 1.1% in 2019, data from the Central Electricity Authority showed, the slowest pace of growth since a 1% uptick seen in 2013. The power demand growth slowdown in 2013 was preceded by three strong years of consumption growth of 8% or more.

In December, the country's power demand fell 0.5% from the year-earlier period, representing the fifth straight month of decline, compared with a 4.3% fall in November.

But in India's western states of Maharashtra and Gujarat, two of India's most industrialised provinces, monthly demand increased.

In October, power demand had fallen 13.2% from a year earlier, its steepest monthly decline in more than 12 years, as a slowdown in Asia's third-largest economy deepened.

Industry accounts for more than two-fifths of India's annual electricity consumption, while homes account for nearly a fourth and agriculture more than a sixth.

The slower demand growth is a blow for many debt-laden power producers, who are facing financial stress and are owed over $11 billion by state-run distribution companies.

India's overall economic growth slowed to 4.5% in the July-September quarter, government data released in November showed, the weakest pace since 2013 as consumer demand and private investment fell.

The government has estimated growth in the current financial year that runs through to March will be the slowest since the 2008 global crisis.

"This reflects overall economic slowdown, because if you look at other high frequency data like diesel consumption, everywhere you are seeing contraction," Rupa Rege Nitsure, chief economist at L&T Financial Holdings.

But India's central bank will not have much scope to cut rates to stimulate the economy because inflation has been rising sharply and reached 7.35% in December compared with 1.97% in January last year.

Economists say India's growth will continue to hover around 4.5% levels in the Oct-Dec quarter.

"In the Oct-Dec quarter as well growth (GDP) will be around the same level as July-September. My estimate for the full year is around 4.7% growth," Nitsure said.

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News Network
July 20,2020

New Delhi, July 20: India's retail trade has suffered a business loss of about Rs 15.5 lakh crore in past 100 days due to the COVID-19 lockdown, traders' body CAIT said on Sunday. 

In a statement, the Confederation of All India Traders (CAIT) said traders across the country are depressed because of minimal of the consumers, considerable absence of employees, facing financial crunch and yet have to meet several financial obligations.

"No support policy from the central or state governments is yet another crucial factor which is haunting the traders," CAIT claimed. 

CAIT Secretary General Praveen Khandelwal said the domestic trade is passing through its worst period in the current century which reflects that if immediate steps are not taken about 20 per cent of the shops in India will have to close down their shutters.

The traders’ body has also urged the government to award a substantial package to traders to ensure their survival. Their demands include: Relaxation in payment of taxes, extension in repayment of bank loans and EMIs without any further interest or penalty as well as measures that would provide money directly in the hands of the traders.

In April, the losses stood at about Rs. 5 lakh crore whereas in May it was estimated to be about Rs. 4.5 lakh crore, followed by Rs. 4 lakh crore in June. Losses stood at about 2.5 lakh crore in the first fortnight of July offering a grim snapshot of the effect of the pandemic on consumer spending. 

“Even as the lockdown was relaxed, store footfall was only 10 per cent. Most of these traders do not have deep pockets to sustain this severe economic catastrophe and on the other hand have several financial obligations to meet. At this crucial time, handholding of these traders is all the more much required,” Khandelwal said.

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News Network
May 12,2020

New Delhi, May 12: Former Prime Minister Manmohan Singh, who was admitted to the AIIMS here after suffering reaction to a new medication, was discharged on Tuesday.

The 87-year-old Congress leader was discharged around 12:30 pm, hospital sources said.

Manmohan Singh was shifted to a private ward in the Cardio-Neuro tower on Monday night. He was also tested for Covid-19 and his results had come out negative, the sources said. The Congress leader was admitted to the hospital on Sunday evening after he complained of uneasiness.

The sources said that Singh had developed a reaction to a new medication and was admitted to AIIMS for observation and investigation.

Manmohan Singh is currently a Member of Rajya Sabha from Rajasthan. He was the prime minister between 2004 and 2014.

In 2009, Singh underwent a successful coronary bypass surgery at the AIIMS.

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