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Owaisi hits out at PM Modi over ‘assumption based data’ on job creation

Agencies
August 12, 2018

New Delhi, Aug 12: All India Majlis-e-Ittehadul Muslimeen (AIMIM) president Asaduddin Owaisi on Sunday termed Prime Minister Narendra Modi's data on job creation in the country as "assumption based".

Speaking to ANI, Owaisi said that the Prime Minister and his government are well aware of the fact that they failed in their promise to provide jobs. "The government has failed to provide jobs to the youth, and they have to bear the consequences of the same in the upcoming elections," Owaisi further accused Prime Minister Modi of having failed to fulfill the promises made during the 2014 general elections.

Owaisi's remark came after Prime Minister Modi on Saturday dispelled the Opposition's allegations about lack of job growth, saying India is among the major economies of the world. In an exclusive interview to ANI, Prime Minister Modi said, "When the economy is growing at a faster pace, in fact, fastest among the major economies, how will the job market not expand?"

Prime Minister Modi had further added, "Employment generation is also evident from 45 lakh new Subscribers in the Employee Provident Fund and 5.68 lakh people joining the New Pension Scheme in the last nine months. All this has led to creation of more than one crore jobs, only in the last year. Thus, the campaign that jobs have not been created must come to a halt now. People are not going to buy it anymore."

On the Prime Minister's statement on Assam's National Register of Citizens (NRC) draft, Owaisi asserted that "The BJP president refers to people as intruders, and the Prime Minister said that no Indian citizen will be made to leave the country over the NRC list. Their only motive is to create hatred."

Communist Party of India (CPI) leader D Raja criticised the Prime Minister on his statement on mob lynching where he said that the Opposition should not politicise the matter and ensure that the society remained integrated. The CPI leader while speaking to ANI said that instead of preaching, the Prime Minister should take some action in this regard.

"If Prime minister is really concerned about mob lynching he should ask the state government to take action on the same. This is not the time to listen to the preaching of the prime minister; we want him to act,' Raja said.

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Agencies
July 30,2020

New Delhi, Jul 30: Preparing for a long haul in the Eastern Ladakh sector in extreme winters, the Indian Army has an edge over the Chinese as it has deployed 35,000 troops there who have already done tenures in high altitude and cold conditions.

The Indian troops deployed there are mentally prepared for tackling the weather and terrain.
In contrast, the Chinese troops deployed along the Line of Actual Control (LAC) are not used to these conditions as they have been brought from mainland China and are not accustomed to high altitude extreme cold weather conditions.

"We are preparing to provide extreme cold weather portable cabins for around 35,000 troops that have been deployed in the Eastern Ladakh sector," government sources said.

"Our soldiers deployed there have already done a tenure or two in Siachen, Eastern Ladakh or Northeast and they are physically and mentally prepared for a longer deployment there," they said.

The Chinese soldiers deployed on the Indian front include mainly conscripts who join the PLA for a period of 2-3 years and then return to their normal lives, sources said.

Indian and Chinese troops are engaged in a standoff situation all along the LAC in Eastern Ladakh from sub-sector north with both sides having deployed around 40,000 troops against each other over there.

The two sides have disengaged at three friction points including Patrolling Point 14, PP-15 and PP-17 and PP-17A.

At PP-17 and 17A, the Chinese have now maintained a small element of close to 50 troops and the remaining elements have gone back into their permanent locations.

The sources said the Army is also not much bothered about the Chinese build-up along the LAC as it has got more than two additional divisions from outside Ladakh sector.

India Army has more troops than what the Chinese have brought there, they said.

For the winter deployment, the Army already has a sizeable stock of clothes and habitat for troops as the Indian army deploys troops at the world's highest battlefield Siachen glacier and is prepared.

For additional requirements, the force is in the process of placing orders for additional tents and shelters from indigenous as well as foreign vendors.

The time for summer stocking is on and we are going to get the additional cabins and tents by that time, the sources.

Months of June, July, and August are considered to be the best time for stocking winter rations and ammunition. The snowfall is expected to start soon in the Eastern Ladakh area where the temperature is already low.

Prime Minister Narendra Modi's government has given financial powers of Rs 500 crore per procurement to the defence forces to address any type of shortages of weapons, ammunition, and habitat.

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News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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News Network
February 28,2020

Feb 28: The best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later, said Raghuram Rajan, former head of the Reserve Bank of India.

There’s little central banks can do, and while more government spending would help, the priority should be on convincing companies and households that the virus is under control, he said.

“People want to have a sense that there is a limit to the spread of this virus perhaps because of containment measures or because there is hope that some kind of viral solution can be found,” Rajan told Bloomberg Television’s Haidi Stroud Watts and Shery Ahn.

“At this point I would say the best thing that governments can do is to really fight the epidemic rather than worry about stimulus measures that comes later,” said Rajan, who is currently a professor at the Chicago Booth School of Business.

The spread of coronavirus is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.

Bank of America Corp. economists warned clients Thursday that they now expect 2.8% global growth this year, the weakest since 2009.

“We have moved from extreme confidence in markets to extreme panic, all in the space of one week,” said Rajan, who previously was chief economist at the International Monetary Fund.

The virus outbreak will force companies to rethink supply chains and overseas production facilities, he said.

“I think we will see a lot of rethinking on this, coming on the back of the trade disruption, now we have this,” Rajan said. “Globalization in production is going to be hit quite badly.”

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