'A scripted act': Sena hits out at BJP over President's rule in Maharashtra

News Network
November 14, 2019

Mumbai, Nov 14: The Shiv Sena on Thursday alleged that imposition of President's rule in Maharashtra was a "scripted act" and took a jibe at the governor, saying he has now given parties six months to form government. It also said that former state chief minister Devendra Fadnavis is shedding "crocodile tears" over the imposition of President's rule as power is still indirectly in the hands of the BJP.

Criticising the governor for giving the Shiv Sena just 24 hours to stake claim and refusing it additional time to muster numbers, an editorial in party mouthpiece 'Saamana' said, "It looked like some invisible power was controlling this game and decisions were taken accordingly."

President's rule was imposed in the state on Tuesday after Governor Bhagat Singh Koshyari sent a report to the Centre, stating that formation of a stable government was impossible in the current situation despite all his efforts.

The Sena alleged that protocol was not followed when it went to the Raj Bhawan to seek more time to stake claim for government formation. The governor waited for the term of the 13th Assembly to end. Had he initiated the government formation procedure earlier, his action of recommending President's rule would have looked "ethically correct", the Marathi publication said. "The governor is so kind that he has now given us six months," it said in sarcastic remarks. "In fact, the imposition of President's rule was a scripted act. It was already decided," the Sena alleged.

The governor was earlier an RSS worker and served as chief minister of Uttarakhand. But Maharashtra is a grand state in terms of geography and history, it noted. "When the governor denies 48 hours (to stake claim), then people would think something is wrong with the way he is acting," the Uddhav Thackeray-led said.

The Shiv Sena said after the imposition of President's rule, Fadnavis termed it as an "unfortunate" development. Had Fadnavis condemned the decision of President's rule, then it could have been said his intentions were true, the Sena opined. "The former chief minister has expressed concern on whether President's rule would impact investments in Maharashtra.

Fadnavis is shedding crocodile tears. If someone is shedding crocodile tears over Presidents rule in the state, it is a farce," the editorial said. With President's rule, the power is still indirectly in the BJP's hands, it said, adding that those who demitted office "look happy" with this decision.

The BJP and Shiv Sena, which fought the October 21 state polls in alliance, secured a comfortable majority by winning 105 and 56 seats, respectively, in the 288-member Assembly. But the BJP did not cede the Sena's demand of sharing the chief minister's post, leading to falling apart of the nearly three-decade-old alliance.

The Congress and NCP won 44 and 54 seats, respectively, in the last month's polls. After the imposition of President's rule in the state, the Shiv Sena, Congress and NCP leaders on Wednesday held hectic parleys to work out a 'common minimum programme' for government formation.

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News Network
February 9,2020

Mumbai, Feb 9: Given the slow progress on the ongoing Rs 38,000-crore capacity expansion at the four largest metro airports, and also the surging traffic, the snaky queues will continue at least till 2023, warns a report.

The four largest airports -- New Delhi, Mumbai, Bengaluru and Hyderabad -- handle more than half of the traffic and are operating at 130 per cent of their installed capacity. These airports are under a record Rs 38,000-crore capex but the capacity will not come up before end-2023, says a Crisil report.

“With the dip in traffic growth largely behind, we expect congestion at the top four airports of New Delhi, Mumbai, Bengaluru and Hyderabad, which handle more than half of the load, to continue till about FY23,” says the report.

Already these airports are operating at over 130 percent of installed capacity, and the ongoing healthy traffic growth this operating rate is expected to rise further in the next 12 months.

“Operationalising of capacities in the following two fiscals will bring down utilisation levels albeit still high at over 90 per cent by fiscal 2023 and that is despite an unprecedented Rs 38,000 crore capex being undertaken by the operators of these airports over five fiscals 2020-24,” says the report.

Despite this unprecedented capex that is debt-funded, ratings are likely to be stable given the strong cash flows expected due to healthy traffic growth, low project risks associated with the capex and improving regulatory environment, notes the report.

“Capacity at these four airports will increase a cumulative 65 per cent to 228 million annually (from 138 million now) by fiscal 2023. However, traffic is expected to grow strong at up to 10 per cent per annum over the same period. Since additional capacities will become operational in phases only by fiscal 2023, high passenger growth will add to congestion till then,” warn the report.

High utilisation will ride on pent-up demand (accumulated in 2019 as traffic was impacted with the grounding of Jet Airways) and one-off issues with new aircraft of certain airlines.

Further impetus will also come from improving connectivity to lower-tier cities and reducing fare difference between air and rail. Increasing footfalls at airports provide a leg-up to non-aero streams such as advertising, rentals, food and beverage and parking, which comprise around half of the revenue of airports already.

These are expected to grow strongly at over 10-12 per cent, also supported by higher monetisation avenue coming along with current capex. The other half of revenue (aero revenue) is an entitlement approved by the regulator, providing a pre-determined, fixed return over the asset base and a pass-through of costs.

Aero revenue is also expected to get a bump up during fiscals 2022-24, when a new tariff order for airports is likely. Overall aggregate cash flows are likely to double by fiscal 2024 and provide a healthy cushion against servicing of debt contracted for capex, the report concludes.

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News Network
February 1,2020

New Delhi, Feb 1: Prime Minister Narendra Modi on Saturday greeted the Indian Coast Guard on its raising day, appreciating its efforts to keep the country's coasts safe.

The Coast Guard came into being in 1977.

"Greetings to the Indian Coast Guard on their foundation day. Our Coast Guard has made a mark due to their remarkable efforts to keep our coasts safe," Modi tweeted.

The prime minister said the force's "concern towards the marine ecosystem is also noteworthy".

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News Network
May 28,2020

May 28: Congress President Sonia Gandhi on Thursday asked the central government to unlock its coffers and help the needy affected by the coronavirus-induced lockdown.

In a video message posted as part of the Congress' 'Speak Up India' campaign, she lamented that even though the country is passing through a serious economic crisis with loss of livelihood due to the pandemic and the lockdown, the central government has not heard the cries of pain and trauma of people.

"We again urge the Centre to unlock its coffers and help the needy. Put direct cash of Rs 7,500 per month in the account of every family for the next six months and provide Rs 10,000 immediately; ensure safe and free travel of labourers back home, employment opportunity and rations; and also increase the number of work days under MNREGA to 200 days to facilitate jobs in villages," Gandhi said.

"Instead of loans, provide financial relief to small and medium industry so that crores of jobs are saved and the country progresses," she said in her video message on the party's social media handles.

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