Is President in your pocket? Sena asks BJP

Agencies
November 2, 2019

Mumbai, Nov 2: The Shiv Sena on Saturday slammed senior BJP leader Sudhir Mungantiwar for his statement that Maharashtra may head for President's rule if the new government is not put in place by November 7 and sarcastically questioned the senior ally whether the President's seal was lying at its office in the state.

The Sena, which is locked in a bitter battle with the BJP over sharing of power since the results of the assembly elections were declared on October 24, also dared its senior ally to stake claim to form the next government.

The tenure of the current Legislative Assembly ends on November 8.

Terming Sena's demand for chief minister's post on a rotational basis with the BJP as the "main hurdle" in government formation, Mungantiwar had said, "A new government will have to be in place within the stipulated time, or else the President will have to intervene. President's rule will be imposed if the government formation doesn't happen in the given time."

Attacking Mungantiwar, the Finance minister in the outgoing government, Sena said he issued the "threat" of imposing the President's rule, like other "intimidation tactics" like using investigating agencies for settling political scores have fallen flat in Maharashtra.

"What the common people have to make out of the threat given by Mungantiwar? Is that supposed to mean that President of India is in our (BJP's) pocket or that the seal of the President is lying in the office of the BJP in Maharashtra?

"Are these people trying to convey that the BJP could impose the President's rule in Maharashtra using that seal in the event of that party not able to form its government?" the Sena questioned in the edit in the party mouthpiece "Saamana".

The Marathi editorial titled "Insult to Maharashtra, Is President in your pocket?" described Mungantiwar's comments "undemocratic and unconstitutional."

"The statement shows the lack of knowledge about the Constitution and the rule of law. This threat might be a move to sidestep the established norms and get things done the way one wants. This statement is an insult to the mandate of the people," the party said.

In the October 21 assembly polls, the BJP failed to perform up to the mark though it emerged as the single largest party by winning 105 seats, 17 less than the 2014 tally, in the 288-member House. The ally Sena won 56 seats, 7 less than its 2014 performance.

The halfway mark in the Legislative Assembly is 145.

"The attitude that only we will rule irrespective of numbers and no one else can attempt the formation of the government was defeated in the recent elections," the Sena said.

The edit further said that those talking about the President's rule should first stake claim to form the government in the state.

"The President is the supreme authority in the Constitution. It is not about an individual but the country. The country is not in anybody's pocket," the editorial said.

The Sena also said it should not be blamed for the present impasse over formation of the government.

"There is no morality left in public life," it said.

Interestingly, Sharad Pawar-led NCP too on Friday criticised Mungantiwar's statement as a "kind of threat."

The Sena's fresh attack on the BJP on Saturday is likely to further strain the soured relations between both the parties.

The Uddhav Thackeray-led party has been demanding the CM's post for 2.5 years and 50:50 division of portfolios, as the BJP's tally took a beating in the polls.

Both these demands have been rejected by the BJP which has insisted that Chief Minister Devendra Fadnavis will continue to hold the post for the next five years.

Thackeray had reportedly said that other options (read NCP and Congress) are available for his party.

However, the Sharad Pawar-led NCP, which won 54 seats in the polls, had said that it would sit in the Opposition.

The Congress, which has 44 MLAs, seems to have adopted a wait-and-watch policy.

Top Congress leaders from Maharashtra on Friday held meetings in Delhi and discussed the situation with party president Sonia Gandhi.

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News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

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News Network
March 25,2020

India will suspend all domestic flights from midnight Tuesday, the final piece of a nationwide lockdown that threatens Prime Minister Narendra Modi’s attempts to revive an economy already expanding at the slowest pace in more than a decade.

The flight ban compliments a cancellation of all passenger trains through March 31, as authorities try to halt the spread of the coronavirus in the world’s second-most populous country, which has poorly equipped hospitals and inadequate social security. Modi on Monday held a conference call with some of India’s top entrepreneurs and bankers, who urged policymakers to immediately slash interest rates by as much as a full percentage point, transfer cash to the poorest citizens, and suspend loan-repayments.

Over the past three days, state after state has declared curfews and India’s international borders have been shut for most visitors since March 11. India so far has 492 virus cases, including nine deaths. But experts say the country could be on the same trajectory as Italy, where the outbreak quickly escalated, causing hospitals to overflow.
A traveller stands outside a near-empty Delhi Junction Railway Station in Delhi, March 22.

"This is the biggest lockdown in world history,” said Raghu Raman, a former soldier with the Indian Army and founder of the National Intelligence Grid, an umbrella database aimed at countering terrorism. “This strategic pause gives decision-makers more time to arrest the exponential spread of the virus and evaluate trade-offs.”

Controlling the outbreak is crucial for Modi, who remains India’s most popular political leader currently though his economic management has faced criticism. Foreign investors are selling Indian assets at an unprecedented pace and failure to contain deaths and infections could erode some of the prime minister’s personal appeal at home.

Oxford Economics slashed India’s January-March growth forecast to 3%, a number not seen even during the worst of the global financial crisis. The main equity gauge rose about 3% on Tuesday after a record 13.2% plunge Monday, and the rupee stayed near its all-time low.

“A part of the cerebral cortex that senses fear and survival seems to have activated in the minds of investors,” said Umesh Mehta, Mumbai-based head of research at Samco Securities Ltd. “The only relief in this market can come from either policy makers and regulators, or from some positive news that a cure for the pandemic is near.”

Bloomberg Economics estimates Modi’s administration needs at least 1% of gross domestic product -- $30 billion -- to meaningfully respond to the virus outbreak. Meanwhile, the nation’s billionaires are diverting their factories to manufacture medical equipment and pledging to keep paying their staff even as production grinds to a halt. India allowed companies to use their philanthropy funds to prevent the spread of the coronavirus.

Reliance Industries Ltd., controlled by India’s richest man Mukesh Ambani, has helped equip a hospital in Mumbai dedicated to patients of Covid-19, the disease caused by the coronavirus. It will also build quarantine centers and produce 100,000 facemasks a day and other personal protective equipment for health workers. The group’s telecom unit will offer free broadband to enable work-from-home during the lockdown and will pay its lowest paid workers twice a month to protect household incomes.

Ambani joins Mahindra & Mahindra Ltd. Chairman Anand Mahindra and Vedanta Resources Ltd. Chairman Anil Agarwal -- a combined worth of more than $40 billion between the trio -- who have so far made pledges.

Indian companies are responding to Modi’s shutdown call. Maruti Suzuki India Ltd., Tata Motors Ltd., Toyota Kirloskar Motor, Hero MotoCorp., Samsung Electronics Co. and LG Electronics Inc., Mahindra Group, TVS Motor Co., Kia Motors Corp., Renault Nissan Automotive India Private Ltd., and Yamaha Motor India are among companies that have announced factory suspensions.

Policymakers are aware of the risks of such a move. India -- with a record 5.9 trillion rupees of local corporate debt maturing this year -- faces “waves of default” if cash flows aren’t maintained, the government’s principal economic adviser Sanjeev Sanyal said an interview.

Finance Minister Nirmala Sitharaman last week said the government will announce a relief package for coronavirus-affected sectors as soon as possible. The Reserve Bank of India, which is due to review interest rates April 3, announced a 1 trillion rupee cash injection on Monday.

“Let me assure, whatever it takes to keep the cash flow going in the economy will be done,” Sanyal said. “We need to make sure that when we are past the health storm, we still have an economy that has not gotten gridlocked. Because unwinding that would be more difficult.”

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News Network
February 4,2020

Feb 4: Amid the agitations against Citizenship Amendment Act, National register of Citizens and National Population Registration across the country, Prime Minister Narendra Modi on Monday said that there is a "political design" behind all these protests including in Delhi's Jamia and Shaheen Bagh to ruin the harmony of the nation.

"Be it Seelampur, Jamia or Shaheen Bagh, protests held over the past several days regarding the Citizenship Amendment Bill. Is this just a coincidence? No. This is an experiment," said Prime Minister Narendra Modi in his first election rally for Delhi polls at Karkardooma.

"There is a political design behind all these protests including Jamia and Shaheen Bagh. These protests are a conspiracy to divide India. These protests are going to ruin the harmony of the nation," he asserted.

Lambasting the opposition parties including Congress and Aam Aadmi Party for supporting the ongoing protests, he said: "But AAP and Congress are provoking people. Constitution and tricolor are being kept in front and attention is being diverted from the real conspiracy."

"These people were doubting the ability of our forces during surgical strikes. Do citizens of Delhi want such people in power? These people are saving those who want to break India into pieces," he added.

People have been protesting at Jamia and Shaheen Bagh against CAA, NRC and NPR. Members of the Opposition have deemed CAA "discriminatory and anti-Constitution" while the Centre has maintained that the new law has no effect on Indian citizens.

Recently, two firing incidents took place near Jamia Millia Islamia University.On Sunday night, the firing incident was reported near gate number five at the university following which people including some students of the varsity gathered outside the Jamia Nagar police station. They returned from the Jamia Nagar police station after their complaint was registered.

Earlier, a student sustained injuries after a young man fired at the protestors near Jamia.

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abdullah
 - 
Tuesday, 4 Feb 2020

Once again incorrect statement and only to divert people attention.  Every one knows who is ruining image of our nation.   this govt has completely failed in all aspects and trying to survive by misguiding the citizens.  Economy is reaching zero and GDP is coming down day by day, Banks and industries on getting closed. youths are unemployed due to no chance.   However, Govt is giving false statement that nothing to worry and our economy if growing.   this govt has brought black bills of CAA and MPR only to divide the society and keep them engaged and forget the falling economy.   If this situation continues, our nation will be one of the poorest countries in the world.   This govt is trying to sell all Govt hold units like Railway, Insurance, etc to private companies only to help the industrialists and to get commission from them.    LIC was running in profit till 4 to 5 years back, but now its running in loss.   Huge amount of money from LIC is taken by Govt to hide the downfall of economy.   Only God can save our country from the hands of present looters + decoits.  

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