Govt to take more steps to turnaround economy, says FM

December 14, 2012

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New Delhi, December 14: Finance Minister P Chidambaram today said the government will take some more steps in the next few weeks to revive the economy and boost investment sentiments.

"I am confident that the steps we have taken, and some more steps that we will take in the next few weeks, will help turn the Indian economy around," he said addressing the 'Delhi Economics Conclave' here.

In the recent past, government has taken a number of measures, including opening up of FDI in multi-brand retail and hiking foreign investment cap in the aviation sector, to boost economic growth and restore investor confidence.

Besides yesterday, the Union Cabinet cleared setting up of Cabinet Committee of Investment to fast-track large project entailing investment of over Rs 1,000 crore.

"It is too early to say whether the measures have begun to bear fruit, although it is our expectation that they will do so," Chidambaram said.

Concerned over sticky retail inflation, the Minister said: "There is no reason at all to become complacent".

While headline inflation has moderated to 7.45 per cent in October, the retail inflation remains high at 9.90 per cent.

The economic growth in the first half of the fiscal fell to 5.4 per cent, against 7.3 per cent in the corresponding period a year ago. The growth in 2011-12 fell to a nine-year low of 6.5 per cent. In the current fiscal RBI expects it to be around 5.8 per cent.

Stressing that the present challenge is different from the one faced in 2008, Chidambaram said: "The present challenge calls for bold and innovative measures".

While in 2008-09 imports had reduced considerably due to fall in international crude oil prices, the situation at present is different as, while exports are declining, imports continue to remain high mainly on account of crude and gold.

He said with rapid globalisation of economy, external sector is becoming more vulnerable.

The Finance Minister also asked Asian G20 member nations and Russia to increase resource base of Asian Development Bank for development of the region.

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Agencies
June 2,2020

Lucknow, Jun 2: Bahujan Samaj Party chief Mayawati on Tuesday said protests in the US after the death of George Floyd, an African-American man, is a clear message to the world that a common man's life has value.

She said this is also guaranteed by the India Constitution, but the governments don't follow it, resulting in the current plight of migrants workers.

Floyd, a 46-year-old restaurant worker from Houston, died in Minneapolis on Monday after a white police officer pinned him to the ground. Video footage showed the officer kneeling on Floyd's neck as he gasped for breath, sparking widespread protests across the US.

"Floyd's killing by police and the 'Black lives matter' agitation in the US have given a clear message to the world that a common man's life has value and it should not be taken for granted," Mayawati said in a tweet in Hindi.

"India's constitution guarantees independence, security, self-respect and pride and governments should give special attention to it. If it was followed, crores of migrants labourers would not have to witness such bad days," she added.

She also demanded better coordination between states to check the spread of coronavirus and said Centre should intervene.

"While coronavirus patients are rising, there is lack of coordination between states and with the Centre, and allegation and counter-allegations are going on and sealing of state borders is unjustified and it is weakening the fight against the virus.  The Centre should intervene," she said in a separate tweet.

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Agencies
June 28,2020

New Delhi, Jun 28: Home Minister Amit Shah on Sunday targeted former Congress President Rahul Gandhi, saying he was indulging in "shallow-minded" politics and making statements that make Pakistan and China happy when soldiers are fighting a spirited battle.

Shah said the government is ready for a discussion in Parliament about the situation from 1962 (when India-China war took place) and it is sad that a former president of a party making statements, which are being celebrated in Pakistan and China.

The Home Minister's comments came during an interview with ANI when he was asked about Rahul's "Surrender (Prime Minister Narendra) Modi" remarks while criticising the BJP-led government on India-China border row.

Rahul has been consistent in his criticism of the government on the handling of both Covid-19 situation and India-China border row, which escalated into a "violent face-off" earlier this month in which 20 Indian soldiers were killed.

"Let there be a robust debate in Parliament. Let us have one. Let us discuss from 1962. Nobody is scared of debate. But one should not make a statement that makes Pakistan and China happy when the soldiers are fighting a spirited battle and the government is taking strong steps," he said.

Asked whether India can handle the anti-India propaganda unleashed by Rahul's 'Surrender Modi' hashtag, he said the government is capable of handling it but it is a matter of introspection for the former Congress president and his party that their remarks are being used against the country.

Modi's remarks at an all-party meeting that no one has intruded into Indian territory triggered a controversy with a section arguing that it went against the previous statement of External Affairs Minister S Jaishankar.

Claiming that he could not advise Rahul as it is Congress' job to do so, he said the government has fought Covid-19 well but some people have a twisted way of seeing things. He said India fought well against Covid-19 and the statistics will speak for itself as it is much better compared to the world.

Shah said under Modi's leadership, India is going to win both the battles -- Covid-19 and India-China border row.

The Home Minister also refused to be drawn into a question on whether Chinese soldiers are holding on to Indian territory on the border at present, saying the government is doing enough to address border row with China.

"I don't want to do anything that goes against my primary aim of this interview (to highlight the steps taken to fight Covid-19 pandemic in Delhi) and create headlines that keep citizens further in fear," Shah said.

When pointed out that people are also in panic due to the border situation, he said the government has taken steps to address the situation and at an appropriate time he would make comments, if needed.

Asked about his tweets on Emergency, which was targeted by Congress asking whether there is democracy in the BJP, he countered it saying that BJP has presidents L K Advani followed by Rajnath Singh, Nitin Gadkari, Rajnath again, himself and now J P Nadda.

"After Indira-ji, was there any Congress President from outside Gandhi family? What democracy do they talk about? I did not do any politics during Covid-19. You look at my tweets of the past 10 years. Every June 25, I give a statement," he said.

"Emergency should be remembered by people as it attacked the roots of our democracy. No one should ever forget it. There should be awareness about it. It is not about a party but about the attack on the country's democracy," he said.

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News Network
June 10,2020

New Delhi, Jun 10: Petrol price on Wednesday was hiked by 40 paise per litre and diesel by 45 paise, the fourth straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 73.40 per litre from Rs 73, while diesel rates were increased to Rs 71.62 a litre from Rs 71.17, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fourth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In four hikes, petrol price has gone up by Rs 2.14 per litre and diesel by Rs 2.23.

Latest petrol, diesel prices in top cities:

New Delhi: Petrol ₹73.40. Diesel ₹71.62

Gurgaon: Petrol ₹72.86. Diesel ₹64.90

Mumbai: Petrol ₹80.40. Diesel ₹70.35

Chennai: Petrol ₹77.43. Diesel ₹70.13

Hyderabad: Petrol ₹76.20. Diesel ₹70b

Bengaluru: Petrol ₹75.77. Diesel ₹68.09

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