S&P: India risks losing investment grade rating

June 12, 2012

Standard_and_Poor

New Delhi, June 12: In an unprecedented broadside at the UPA-II government's style of functioning, global rating agency Standard and Poor's (S&P) on Monday pointed to the operational roles of Congress president Sonia Gandhi and “unelected” Manmohan Singh as Prime Minister for the current economic impasse and threatened to downgrade India's sovereign credit rating to ‘speculative' from the lowest notch of ‘investment' grade.

In its report, ‘Will India be the first BRIC fallen angel,' S&P said: “Slowing GDP growth and political roadblocks to economic policy-making could put India at the risk of losing its investment grade rating” and pointed out that the crux of the current political problem in going forward with economic liberalisation was the nature of leadership within the Central government and not “obstreperous” allies or an “unhelpful” Opposition.

Having scaled down India's rating outlook to ‘negative' from ‘stable' in April this year, the S&P report, authored by its credit analyst Joydeep Mukerji, highlighted that the Congress was divided on economic policies, and there was substantial opposition to any serious liberalisation. It pointed to the division of roles between a politically “powerful” Congress president and an “appointed” Prime Minister as having “weakened the framework for making policy, in our view.”

“Moreover, paramount political power rests with the leader of the Congress, Sonia Gandhi, who holds no Cabinet position, while the government is led by an unelected Prime Minister Manmohan Singh, who lacks a political base of his own,” it said.

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Agencies
February 16,2020

New Delhi, Feb 16: Despite the fact that Aam Aadmi Party (AAP) managed to clean sweep in the recently-concluded 2020 Delhi Assembly polls with eight women candidates winning, Chief Minister Arvind Kejriwal's new cabinet does not have a single woman.

This, even as eight AAP women candidates -- Atishi Marlena, Rakhi Birla, Raj Kumari Dhillon, Preeti Tomar, Dhanwati Chandela, Parmila Tokas, Bhavna Gaur and Bandana Kumari emerged victorious in the 2020 Assembly polls.

Also, AAP's poll campaign had put the spotlight on women's issues- free bus rides for women, safety etc.

This year, AAP had fielded nine female candidates out of which only woman candidate Sarita Singh from Rohtas Nagar suffered defeat. In 2015, the party had fielded six women candidates, all of whom won the election.

Atishi Marlena, who won the election from Kalkaji, has served as a key advisor to the AAP leader Manish Sisodia primarily on education policies that transformed public school education in the capital.

Just like Marlena, incumbent MLA Rakhi Birla from Mangolpuri constituency has also failed to comeback to the Cabinet in this term even after bagging over 74,100 votes, with a margin of over 30,000 votes and 58 per cent of the vote share.

She was charged with the Cabinet Ministry of Women and Child, Social Welfare and Languages, for a few months in AAP's first term from 2013 to 2014. During this, period she came to the spotlight as she became the youngest ever cabinet minister of Delhi at the age of 26 and was even called "giant killer" for defeating four-time Congress MLA Raj Kumar Chouhan in 2013 Delhi polls.

Another candidate of AAP, Raj Kumari Dhillon swept Hari Nagar against BJP's Tajinder Pal Singh Bagga by a margin of over 20,100 votes.

Apart from these three, Preeti Tomar (Tri Nagar), Dhanwati Chandela (Rajouri Nagar), Pramila Tokas (RK Puram), Bhavna Gaur (Palam), and Bandana Kumari (Shalimar Bagh)- the other five who won for AAP- do not figure in the new cabinet.

Today at Ramlila Maidan, AAP national convenor Arvind Kejriwal was sworn-in as Chief Minister of Delhi.

Besides him, Manish Sisodia, Satyender Jain, Gopal Rai, Kailash Gehlot, Imran Hussain, and Rajendra Gautamas took oath as the ministers in Delhi.

AAP achieved a landslide victory in the Assembly elections with a clear majority of 62 seats out of 70. 

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News Network
May 27,2020

New Delhi, May 27: As per the prediction from the IMD, severe heatwave conditions continued in several parts of north India with Delhi recording the country’s second-highest temperature at 47.6 degrees Celsius. On the other hand, Churu in Rajasthan sizzled at 50 degrees Celsius, reporting the highest temperature in the country. Also Read - Delhi Temperature: Heatwave to Continue, IMD Issues Alert, Mercury Rises to 46 Degrees

In Delhi, the mercury soared to 47.6 degrees Celsius in Palam area and most places recorded their maximum temperatures six notches above normal. The Safdarjung Observatory, which provides representative figures for the city, recorded a maximum of 46 degrees Celsius.

The last time when the mercury at the Safdarjung weather station touched the 46-degrees-Celsius mark was on May 19, 2002.

The IMD said the weather stations at Lodhi Road and Aya Nagar recorded their respective maximum at 45.4 degrees and 46.8 degrees Celsius.

In its earlier forecast, the IMD has said that dust storm and thunderstorm with winds gusting up to 60 kilometres per hour is likely over the National Capital Region on Friday and Saturday.

On the other hand, severe heatwave conditions prevailed in several parts of Rajasthan on Tuesday, with the mercury touching 50 degrees Celsius in Churu district.

The IMD said this is the second-highest maximum temperature recorded in Churu district in the month of May in the last 10 years.

Other areas such as Bikaner, Gangangar, Kota and Jaipur recorded maximum temperatures of 47.4 degrees Celsius, 47 degrees Celsius, 46.5 degrees Celsius and 45 degrees Celsius, respectively.

In the adjoining areas of Chandigarh, the severe heatwave condition continued in Haryana, Punjab with Hisar being the hottest place in the region at 48 degrees Celsius.

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Agencies
June 20,2020

New Delhi, Jun 20: After Prime Minister Narendra Modi said there are no foreign incursions into India, China has once again claimed that Galwan valley of Ladakh union territory is located on the Chinese side of the Line of Actual Control (LAC).

In an official statement on the step-by-step account of the Galwan face-off where 20 Indian soldiers were killed, China's foreign ministry spokesperson Zhao Lijian has said the Galwan valley is located on the Chinese side of the LAC in the west section of the China-India boundary.

"For many years, the Chinese border troops have been patrolling and on duty in this region," Zhao said alleging that since April this year, the Indian border troops have unilaterally and continuously built roads, bridges and other facilities at the LAC in the Galwan Valley.

China has lodged representations and protests on multiple occasions but India has gone even further to cross the LAC and make provocations, Zhao said.

By the early morning of May 6, the Indian border troops, who had crossed the LAC by night and trespassed into China's territory, built fortification and barricades, which impeded the patrol of Chinese border troops, Zhao said adding that they deliberately made provocations in an attempt to unilaterally change the status quo of control and management.

The Chinese border troops, he said, were "forced to take necessary measures to respond to the situation on the ground and strengthen management and control in the border areas."

In order to ease the situation, China and India have stayed in close communication through military and diplomatic channels, he said. "In response to the strong demand of the Chinese side, India agreed to withdraw the personnel who crossed the LAC and demolish the facilities, and so they did.

On June 6, the border troops of both countries held a commander-level meeting and reached consensus on easing the situation. The Indian side, he said, promised that they would not cross the estuary of the Galwan river to patrol and build facilities and the two sides would discuss and decide phased withdrawal of troops through the meetings between commanders on the ground.

"Shockingly, on the evening of June 15, India's front-line troops, in violation of the agreement reached at the commander-level meeting, once again crossed the Line of Actual Control for deliberate provocation when the situation in the Galwan Valley was already easing, and even violently attacked the Chinese officers and soldiers who went there for negotiation, thus triggering fierce physical conflicts and causing casualties."

"The adventurous acts of the Indian army have seriously undermined the stability of the border areas, threatened the lives of Chinese personnel, violated the agreements reached between the two countries on the border issue, and breached the basic norms governing international relations," the spokesperson said.

Beijing, he said, hopes that India will work with China, follow faithfully the important consensus reached between the two leaders, abide by the agreements reached between the two governments, and strengthen communication and coordination on properly managing the current situation through diplomatic and military channels, and jointly uphold peace and stability in the border areas.

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