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Sena hails Pawar as 'margdarshak' of Maha govt

Agencies
November 28, 2019

Mumbai, Nov 28: With Shiv Sena president Uddhav Thackeray set to take oath as Maharashtra's chief minister, the party on Thursday heaped praises on NCP chief Sharad Pawar and termed him 'margdarshak' (guide) of the new government in the state.

Though the Shiv Sena espouses the Hindutva ideology, it formed the 'Maha Vikas Aghadi' alliance with the NCP and Congress when the Uddhav Thackeray-led party fell out with the BJP over the issue of sharing the chief minister's post after the last month's Assembly elections.

An editorial in Sena mouthpiece 'Saamana' acknowledged Sharad Pawar's efforts in taking the Sena-NCP-Congress alliance forward.

The NCP chief, who spoke to Ajit Pawar on Tuesday and asked him to revisit his decision of supporting the BJP, has been credited for the u-turn by his nephew and is being described as the state political drama's 'man of the match'.

"A strong and experienced 'margdarshak' like Sharad Pawar is with us. This government will not function with any deceitful intention against anyone," the Sena said

With the single largest party BJP being unable to form a government, the Sena described the change in political dynamics as the "rise of a new sun" in Maharashtra.

"The current mood of happiness in the state can be equated with the one the entire country had at the time of Independence on August 15, 1947," the Marathi daily said.

The Sena asserted that the state machinery will not be used for conspiring against anyone.

Without naming the BJP, it said the Sena leader did not bow down to any pressure from the Centre.

"At a time when prominent leaders from across the country are kneeling before rulers in Delhi, Uddhav Thackeray did not bow down to such pressure tactics. He did not compromise with his pride and refused to join hands with people who 'lied' to him," the Marathi publication said.

It said that former chief minister Devendra Fadnavis has cursed the Sena-NCP-Congress government, saying the dispensation standing on three legs will not survive, but this is his "delusion".

"There is no confusion among the three parties about the development of the state," it added.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
July 27,2020

New Delhi, Jul 27: India's COVID tally on Monday crossed 14 lakh mark with the highest single-day spike of 49,931 cases reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

The total COVID-19 cases stand at 14,35,453, including 4,85,114 active cases, 9,17,568 cured/discharged/migrated, it added.

With 708 deaths in the last 24 hours, the cumulative toll reached 32,771.

India had crossed 13 lakhs COVID-19 cases on July 25.

Maharashtra has reported 3,75,799 coronavirus cases, the highest among states and Union Territories in the country.

A total of 2,13,723 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,30,606 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 5,15,472 samples were tested for coronavirus on Sunday and overall 1,68,06,803 samples have been tested so far.

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News Network
January 28,2020

Kolkata, Jan 28: West Bengal chief minister Mamata Banerjee Tuesday said she is ready for talks with Prime Minister Narendra Modi on the issue of Citizenship Amendment Act but the Centre has to first withdraw the contentious law.

Banerjee said protesting against the decisions of the centre doesn't make opposition parties anti-national and iterated that she will not implement CAA, NRC or NPR in the state.

"It is good that the prime minister is ready for talks but the Citizenship Amendment Act (CAA) must be revoked first. They (Centre) did not call an all-party meeting before taking a decision on Kashmir and CAA.

"We are ready for talks but first withdraw this Citizenship Amendment Act," Banerjee, a staunch critic of the BJP, said addressing a protest programme against CAA through paintings.

The West Bengal assembly had on Monday passed a resolution against the CAA to become the fourth state after Kerala, Punjab and Rajasthan, to do so. The state assembly had on September 6, 2019, passed a resolution against the NRC.

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