Omar hints at possibility of NC backing PDP

December 23, 2014

Srinagar, Dec 23: The outgoing Jammu and Kashmir Chief Minister Omar Abdullah today hinted at an intriguing possibility of supporting his party National Conference's (NC) bitter political rival PDP in forming a government in the state after the hung verdict in the Assembly polls.omar abdulla

Mufti Mohammed Sayeed's PDP has emerged as the single largest party with 28 seats, 16 short of a majority in the 87-member legislature. BJP got 25 seats and NC 17, including two Independents supported by it, followed by the Congress with 12 seats.

PDP's options are either to align with BJP or cobble together a government with the support of Congress and some independents. Support from NC has never been considered as an option by political observers.

Introducing a new element in the scenario, Omar told PTI that it was for PDP to approach him. "I don't rule out or rule in anything thereafter," he said.

Reminded that NC's support to PDP has never been envisaged, Omar said, "was Mr Nitish Kumar's coming together with Mr Lalu Prasad Yadav in Bihar ever thought of?"

He virtually ruled out any support to the BJP, saying that there was only one per cent likelihood of that. "I am leaving one per cent crack open."

Omar, however, maintained that he would not be approaching anyone. "But that does not stop anyone from approaching me," he said.

Putting the onus on PDP, BJP and Congress to cobble up a government, Omar said it was not for him to unilaterally extend support to any formation.

Asked about BJP Chief Amit Shah's remarks at a press conference that he was keeping all options open on government formation, Omar said he had not got any call from Shah.

Acknowledging that he was earlier today not sure of returning as an MLA, he said now he was going to sit back and leave it to other parties to form the new government.

There is only one road for the NC and that is upwards and "we have an important role to play in coming days."

Omar, however, said that he had expected the PDP to do much better.

The Chief Minister said the BJP had done well but had become victim of its own propaganda. "If before elections they had projected themselves to do better than the past, they would have been a relaxed lot today.

"However, their slogans like Mission 44 and Mission 52 only punctured their happiness," he said.

Earlier during his victory run at Beerwah, Omar said NC would play the role of a good and constructive opposition.

"NC is satisfied with its own performance. We went further than what people expected from us. Opinion polls were not giving us so many seats. And I feel that given the situation, if we get 17 seats, no one in the NC should feel bad.

"We are ready to play the role of a good and constructive opposition. And we will see later as to what will happen," Omar told reporters here.

Asked about Congress general secretary and Leader of Opposition in Rajya Sabha, Ghulam Nabi Azad’s reported offer of support to the PDP, Omar said the national party had time and again proved that there were no permanent friends or foes in politics.

"Congress has this quality that they time and again prove that in politics there can be no permanent friends or foes. Azad, perhaps would be ready to do everything to go to Rajya Sabha again and for that even if he has to fall at Mufti’s feet, he will," he said.

Commenting on the possibility of PDP allying with the BJP, Omar said, "I cannot say anything on that. It is for the PDP and the BJP to see".

The NC leader, who lost from Sonawar seat, said he had known that retaining all the eight seats in Srinagar would be difficult.

"I had known that Srinagar district would be difficult for us this time. We had all the eight seats and Sonawar was a constituency which we had won three times out of the last four and there was anti-incumbency against NC. And we had to bear the brunt of the destruction caused by the floods there."

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News Network
May 11,2020

London, May 11: Fugitive diamond merchant Nirav Modi's five-day extradition trial over the nearly USD2 billion Punjab National Bank (PNB) fraud and money laundering case is set to begin in London's Westminster Magistrates' Court today.

The London High Court rejected Nirav Modi's bail plea in Punjab National Bank (PNB) bank fraud case for the fifth time in early March.

Modi, the prime accused in the PNB fraud case, is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the Punjab National Bank (PNB) along with his uncle, Mehul Choksi.

Modi, 48, was arrested in March last year by Scotland Yard in connection with the case.

Modi was remanded in custody till February 27, 2020, after he appeared before a UK court on Thursday via video link from his London prison.

The latest bail hearing followed further assurances by Modi, including an increase in the amount of security he had offered as a guarantee as well as stricter bail conditions.

On his last bail application, Modi offered USD 4 million as a security guarantee in return for bail, an offer that was rejected by judges who ruled that there was a real risk that Modi would flee the UK to a country which has no extradition treaty with India.

At the same hearing, the judge ruled that there was "strong evidence" that Modi had engaged in "witness intimidation" and destroying evidence.

Given the seriousness of such allegations, it was all but certain that the latest bail application would be rejected.

Modi's lawyers had contended that their client was being held in difficult conditions at Wandsworth prison and had also claimed that his mental health was deteriorating as a result of his incarceration.

However, ruling at the High Court today, Justice Ian Dove said there was a "clear need for this application to be refused in the present circumstances."

It comes just days after the second sale of assets belonging to Modi valued at millions of dollars.

The items include a luxury Rolls Royce car, a Patek Philippe watch and a painting by the renowned Indian artist Amrita Sher-Gil valued at USD 2.5 million but expected to fetch considerably more.

Meanwhile, Nirav's brother Neeshal Modi, who is also one of the co-conspirators in the PNB scam, has written to Enforcement Directorate, distancing himself from his brother's actions and said that he had no knowledge of it.

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News Network
June 8,2020

New Delhi, Jun 8: Delhi Chief Minister Arvind Kejriwal has announced that malls, restaurants and religious places in the national capital would open from Monday after more than two months since the coronavirus-induced lockdown was imposed, but banquet halls and hotels would remain closed.

At an online briefing on Sunday, Kejriwal said hotels and banquet halls might be converted into hospitals in the coming days to treat coronavirus patients and therefore, they would remain shut.

"Malls, restaurants and religious places will be opening from Monday in Delhi in accordance with the Centre's guidelines," he said.

The city government will comply with the instructions of the Centre and its experts like maintaining social distancing and wearing of masks at these places, Kejriwal said.

"In view of the rising number of coronavirus cases, we might attach hotels and banquet halls with hospitals and convert them into hospitals. Hotels and banquet halls will not be opened for now," he said.

The Centre had said on May 30 that "Unlock-1" would be initiated in the country from June 8 and the lockdown would be relaxed to a great extent.

The Delhi government also issued an order allowing opening of restaurants, shopping malls and places of worship except in the COVID-19 containment zones, "subject to compliance with the Standard Operating Procedure (SOP) issued by the Ministry of Health and Family Welfare".

Kejriwal urged the elderly people, who are at a higher risk of contracting the coronavirus, to confine themselves in a room and not to interact with even the family members in order to protect themselves.

Delhi has so far registered over 27,500 coronavirus cases, including 761 deaths.

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News Network
May 24,2020

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

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