Unfazed BJP bracing for a fight

June 17, 2012

Kalam_Sangma17New Delhi, June 17: Ahead of the NDA's crucial meeting on the Presidential election, the BJP is veering round to the view that it should not allow the post to go uncontested.

There are indications that at the NDA meeting, scheduled here for Sunday morning, the party will vigorously advocate the candidature of the former Lok Sabha Speaker, P.A. Sangma, who has already secured the backing of the AIADMK and the BJD.

Ideally, the BJP would have liked the former President, A.P.J. Abdul Kalam, to enter the fray. Since the NDA leaders have not got his nod so far, it is inclined to throw its weight behind Mr. Sangma.

According to NDA leaders, efforts are still on to persuade Mr. Kalam to contest the election. Janata Party president Subramanian Swamy called on the former President and conveyed the strong desire of the NDA and other parties to see him once again at Rashtrapathi Bhavan.

The BJP is conscious of the reservations of the NDA constituents, like the JD (U), about entering the contest, in which the numbers are heavily stacked in favour of the UPA nominee and Finance Minister Pranab Mukherjee.

Senior BJP leaders are talking to Bihar Chief Minister Nitish Kumar to convince him of the need for putting up a fight against Mr. Mukherjee.

The BJP's ‘Core Group,' which met at the residence of president Nitin Gadkari here, took stock of the developments and decided to leave the final decision to the NDA.

The dominant view at the two-hour meeting — attended by L.K. Advani and Leader of the Opposition in the Lok Sabha Sushma Swaraj — was that it would be in the larger interest of the party to back Mr. Sangma's candidature.

Three factors influenced the outcome of the meeting. At a juncture when the UPA has become very unpopular, the BJP would not like to be seen on the same side as the ruling alliance. In the assessment of the party leaders, backing Mr. Sangma — who says he is contesting in his capacity as a tribal leader — would send a positive signal.

Most important, the party would not like to go against the wishes of the AIADMK and the BJD, which could be potential allies in the 2014 Lok Sabha elections.

The BJP leaders concede that they have their work cut out in view of the clear signal from one of the main constituents of the NDA — JD(U) — that it is in favour of Mr. Mukherjee's candidature.

Shivanand Tiwari, a JD (U) leader considered a confidant of Mr. Nitish Kumar, said that personally he felt “a senior and respected leader like Pranab Mukherjee, who is going into retirement [from active politics], should be given a graceful send-off.”

In another development, Rajya Sabha MP Ram Jethmalani was quoted by a news agency as saying he would contest in the Presidential poll. Though Mr. Mukherjee was his friend, he said, he would oppose his candidature. “I may lose, but I will stand in the election,” he said. “Pranab hasn't revealed the names of black money holders.” He would fight and expose the truth. The BJP leaders said it was his personal view.

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Agencies
January 21,2020

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

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News Network
February 28,2020

Feb 28: Market benchmark Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

The 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, while the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80.

All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

In the previous session, the Sensex settled 143.30 points, or 0.36 per cent, lower at 39,745.66, and the Nifty fell 45.20 points or 0.39 per cent to end at 11,633.30.

According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

Further, incessant selling by foreign investors is also spooking domestic market participants, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 4 per cent in their morning sessions.

On Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

World oil prices too tumbled by more than 4 per cent overnight as traders fretted about the impact of spreading coronavirus on crude demand, particularly from key consumer China.

Brent crude oil futures fell another 2.47 per cent to USD 50.45 per barrel early in the day.

The rupee depreciated 28 paise to 71.89 against the US dollar in morning session.

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News Network
May 5,2020

New Delhi, May 5: India registered the biggest jump in numbers of COVID-19 cases and deaths, with 3,900 new cases and 195 deaths being reported in the last 24 hours, according to the Ministry of Health and Family Welfare on Tuesday.

"3,900 COVID-19 cases and 195 deaths have been reported in the last 24 hours, the largest spike till now in both," according to the Ministry of Health and Family Welfare.

The total number of confirmed coronavirus cases in India reached 46,433, including 1,568 deaths, according to the Union Ministry of Health and Family Welfare on Tuesday.

According to the latest update by the MoHFW, 12,727 patients in the country have been cured and discharged, or have migrated, as of today morning. At present, there are 32,138 active cases in the country.

Maharashtra with 14,541 cases is the worst-affected state by the disease, while Gujarat with 5,804 cases is second on the list.

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