President's dig at AAP: Populist anarchy can't be substitute for governance

January 26, 2014

Pranab-R-DayNew Delhi, Jan 26: In an apparent reference to the Aam Admi Party, President Pranab Mukherjee on Saturday warned in his Republic Day-eve speech about the dangers of intemperate populism, saying "populist anarchy" cannot be a "substitute for governance".

The President made unusually direct comments on AAP's politics and also stressed the need for a stable government after the forthcoming Lok Sabha election as he said a fractured mandate would be "catastrophic for the nation".

Mukherjee also warned political parties to either check corruption or be prepared to be voted out of office. He said popular aspirations were rising fast, and added: "Corruption is a cancer that erodes democracy, and weakens the foundations of our state. If Indians are enraged, it is because they are witnessing corruption and waste of national resources. If governments do not remove these flaws, voters will remove governments."

The President's speeches are usually a tepid affair replete with homilies, but this speech immediately attracted attention for the pointed observations and as it's written by the President with no input from the government unlike his address to the joint sitting of Parliament which is written by the central government.

'Govt is not a charity shop'

While his speech can be read to refer to populism in general, references to irresponsible populism seem aimed at AAP. He said: "Elections do not give any person the licence to flirt with illusions. Those who seek the trust of voters must promise only what is possible. Government is not a charity shop. Populist anarchy cannot be a substitute for governance."

Mukherjee went on to underline the possibility of public anger against institutions, saying "false promises lead to disillusionment, which gives birth to rage, and that rage has one legitimate target: those in power."

Mukherjee's comments on the significance of the 2014 election saw him pitching for a stable government not held to ransom by "capricious" regional parties. He added that voters have a responsibility to discharge and should not let the nation down.

"2014 is a precipice moment in our history. We must re-discover that sense of national purpose and patriotism, which lifts the nation above and across the abyss; and back on to the road of prosperity. Give the young jobs and they will raise the villages and cities to 21st century standards. Give them a chance and you will marvel at the India they can create," he said.

Saying this, he added, "This chance will not come if India does not get a stable government. This year, we will witness the 16th General Election to our Lok Sabha. A fractured government, hostage to whimsical opportunists, is always an unhappy eventuality. In 2014, it could be catastrophic. Each one of us is a voter; each one of us has a deep responsibility; we cannot let India down. It is time for introspection and action."

Mukerjee said, "Some cynics may scoff at our commitment to democracy but our democracy has never been betrayed by the people; its fault-lines, where they exist, are the handiwork of those who have made power a gateway to greed. We do feel angry, and rightly so, when we see democratic institutions being weakened by complacency and incompetence. If we hear sometimes an anthem of despair from the street, it is because people feel that a sacred trust is being violated."

Mukherjee said while political parties needed to be realistic about what they promise to people, they had to deliver development expeditiously. "This rage will abate only when governments deliver what they were elected to deliver: social and economic progress, not at a snail's pace, but with the speed of a racehorse," he said.

"The aspirational young Indian will not forgive a betrayal of her future. Those in office must eliminate the trust deficit between them and the people. Those in politics should understand that every election comes with a warning sign: perform, or perish."

"I am not a cynic because I know that democracy has this marvellous ability to self-correct. It is the physician that heals itself, and 2014 must become a year of healing after the fractured and contentious politics of the last few years," the President added.

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News Network
May 26,2020

Kasaragod, May 26: Amid relaxation of COVID-19 lockdown norms, Secondary School Leaving Certificate (SSLC) and vocational higher secondary education (VHSE) examinations resumed in Kerala on Tuesday.

Schools in the state maintained social distancing norms and other precautionary measures amid the examination. Hand sanitisers were also provided at the centres while wearing face masks was made mandatory for all students.

Students at VHSS Manacaud High School in Thiruvananthapuram were encouraged to follow social distancing norms while they also underwent thermal screening before entering the examination centre.

In Kerala, VHSE and SSLC exams began today. While VHSE is scheduled in the morning, the SSLC exam is held in the afternoon session.

Senior secondary exams are scheduled to begin in the state from May 27.

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News Network
February 11,2020

New Delhi, Feb 11: As the counting of votes for the Delhi Assembly polls began, Congress leader Digvijaya Singh on Tuesday raised doubts on EVMs, alleging that no machine having a chip is tamper-proof.

He called upon the Election Commission and the Supreme Court to take a fresh look at the use of EVMs in the country.

"No machine (which) has a chip is tamper-proof. Also please do for a moment think, why no developed country uses EVM," Singh said in a tweet.

"Would CEC and Hon Supreme Court please have a fresh look on EVM voting in India? We are the largest democracy in the world, we can't allow some unscrupulous people to hack results and steal the mandate of 1.3 billion people.

"If they match the votes in the counting unit. Declare the result. If they don't match then count the ballots of all polling booths in the assembly. It would convince everyone and save time also as this has been the consistent argument of CEC in favour of EVM," the Congress leader said.

Polling for the 70-member Delhi Assembly polls was held on Saturday.

The Election Commission on Sunday announced that the final voter turnout was 62.59 per cent, five per cent less than 2015.

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Agencies
June 22,2020

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

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