Uddhav chairs first cabinet meet; assures concrete farm aid

Agencies
November 29, 2019

Mumbai, Nov 29: Maharashtra Chief Minister Uddhav Thackeray on Thursday night chaired the maiden meeting of his cabinet which sanctioned Rs 20 crore for conservation of the Raigad Fort as he promised concrete assistance for farmers after reviewing existing schemes instead of any piecemeal aid.

Thackeray, sworn in the CM here hours earlier, chaired the first meeting of his cabinet at Sahyadri Guest House in south Mumbai.

He said the first decision of the cabinet was to approve a sum of Rs 20 crore for conserving the Raigad Fort, which was the capital of Chhatrapati Shivaji Maharaj in the 17th century.

Addressing his first press conference after taking over as CM, Thackeray said he has asked the chief secretary to review all existing government schemes for farmers to understand how much they have actually helped the community.

"We can paint a better picture if we know the reality.

We have sought inputs. Farmers have not got anything, but only assurances. We want to provide concrete help to farmers," he said after the meeting.

"I have asked the chief secretary to provide a realistic picture about the number of schemes aimed at helping farmers and how much they have benefited them.

"Once I get the real picture, we will be able to come up with solution," Thackeray said.

The CM said he is not looking at piecemeal approach to resolve issues related to cultivators, who suffered crop losses in unseasonal rains in October.

"I don't want to provide any negligible assistance but whatever we will do, it will be a grand and satisfactory provision for farmers," Thackeray said.

"So far farmers have been given false promises and they have not benefited actually. I have seen farmers were given certificates of loan waiver but they did not benefit in reality," he said, said hitting out at the erstwhile Devendra Fadnavis government which had announced a mega farm loan waiver in June 2017.

"Even the crop insurance scheme has failed to address farmer issues. The Sena has taken their issues to the streets.

We want to provide some meaningful help to farmers," said Thackeray, who is also president of the Sena, a key member of the Maha Vikas Aghadi, the governing coalition also comprising the Congress and the NCP.

"We want to ensure an atmosphere in the state wherein nobody will feel terrorised," he said.

Before the swearing-in ceremony, the three parties unveiled their common minimum programme (CMP), which will guide the three-party government.

Former chief minister Devendra Fadnavis expressed his disappointment over the programme, saying it does not talk about other parts of the state such as north Maharashtra and Marathwada.

Asked about it, Thackeray said, "The cabinet is of entire Maharashtra and the person who is making such comment was chief minister for five years. A cabinet is not of a particular region, but it represents the entire state." "He should study and tell us to which region our cabinet belongs to," Thackeray said sarcastically.

Elaborating on the first decision taken by the cabinet related to conservation of the Raigad Fort, he said, "The total cost of the project is Rs 606 crore of which Rs 20 crore was disbursed by the previous government.

"I am happy the first decision in my cabinet was sanctioning (Rs 20 crore) for the second round of the ongoing work."

At the media briefing, Thackeray was accompanied by his cabinet colleagues Chhagan Bhujbal, Jayant Patil, Nitin Raut and Balasaheb Thorat.

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Agencies
March 16,2020

Amaravati, Mar 16: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy said that paracetamol is the only medication for coronavirus.

He said that COVID-19 is lethal for those have comorbid conditions including blood pressure, asthma and kidney diseases.

"There is no need to get panic about Coronavirus. Its impact is majorly on senior citizens aged above 60 years. It is dangerous to those suffering from diabetes, blood pressure, asthma and kidney diseases. For others, it is not so much dangerous. And paracetamol is the only medication for coronavirus," Reddy said on Sunday while addressing a press conference on the postponing of the local body elections as coronavirus cases continue to rise.

"In case anybody coming from foreign countries is found suffering from cough, cold and fever, bleaching powder should be sprayed on their belongings and things they use. The government is creating awareness on such precautions," he added.

Reddy slammed the State Election Commissioner's decision of postponing the local body elections for six weeks and alleged that the SEC was acting at the behest of TDP chief N Chandrababu Naidu.

The opposition has targeted Reddy on his statement, saying the chief minister is behaving "ignorantly" and "irresponsibly" on the issue of coronavirus.

"While Telangana CM had changed his stand and closed shops and theatres in his state, Jagan Reddy is speaking as if there is no need for any panic. This CM is behaving ignorantly and irresponsibly," said Naidu.

Andhra Pradesh has reported one case of coronavirus. The total number of confirmed COVID-19 cases across India has risen to 110.

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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
May 7,2020

Visakhapatnam, May 7: Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Thursday announced an ex- gratia payment of Rs one crore each to the kin of those killed in the styrene gas leak incident at LG Polymers Limited near here.

The NDRF had put the death toll from the leak at 11.

The chief minister announced a committee to probe into the mishap and also said the government would talk to the LG Polymers management seeking job for the kin of the deceased in any of its businesses.

Speaking to reporters after conducting a review meeting, Reddy also announced Rs 10 lakh each to those undergoing treatment on ventilator support and Rs 25,000 to those who took treatment as out-patients after developing health complications due to inhalation of the styrene vapour.

Earlier, he held a review meeting at the Andhra Medical College with District Collector Vinay Chand and others.

The gas leak victims undergoing treatment in various hospitals would be paid Rs one lakh each. The 15,000-odd population in the five villages that were affected by the gas leak would be paid Rs 10,000 each, the chief minister added.

Reddy further announced constitution of a high-level committee, headed by the Special Chief Secretary (Environment and Forests), to probe into the mishap and make recommendations to prevent such tragedies in the future.

Earlier, he visited the King George Hospital and consoled the victims of the gas leak.

Accompanied by his Deputy holding the health portfolio A K K Srinivas and Chief Secretary Nilam Sawhney, Reddy flew down to the port city and went straight to the KGH.

He met the gas leak victims undergoing treatment and enquired about their well-being.

At the review meeting, the Collector informed the Chief Minister that the gas spread was limited to a 1.5 to 2 km area from the epicentre of the leak and that the locals were evacuated to safety.

Of the two styrene tanks in the plant, the leak occurred from one that was holding about 1,800 kilo litres of the chemical.

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