'When decision is right, its echo is heard across globe': PM in Bangkok

News Network
November 3, 2019

Bangkok, Nov 3: India has eliminated a big reason behind sowing of seeds of terrorism and separatism, Prime Minister Narendra Modi said here on Saturday, in a clear reference to abrogation of Article 370 from Jammu and Kashmir and reorganisation of the state.

The Prime Minister's remarks on Kashmir at an Indian diaspora meet in this bustling Thai capital city were greeted with laud applause and a standing ovation by around 5,000 people. "You are aware that India has decided to eliminate a big reason behind sowing of seeds of terrorism and separatism," Modi said.

"When a decision is right, its echo is heard across the globe. And I can hear it in Thailand as well," he said at the 'Sawasdee PM Modi' event at an indoor stadium in central Bangkok. The government has been maintaining that Article 370 providing special status to Jammu and Kashmir was a reason behind terrorism and separatism in the state.

As people stood up and hailed his remarks, Modi said the standing ovation was for India's Parliament and parliamentarians and that their blessings will further energize Indian lawmakers to work harder for the nation. "Your standing ovation will further energize our Parliamentarians. It is a salute to India's Parliament," he said.

In his nearly 50-minute speech Modi also spoke on a range of issues including the welfare measures rolled out by his government, his return to power with a bigger mandate in the Lok Sabha elections, strength of the Indian economy, importance of Indian diaspora in overall growth of the country and how India is emerging as a "major power" globally.

Modi said his government was working to fulfil those aspirations which seemed impossible earlier, adding people's expectations go up from those who work. "People want more work from those who deliver. Their expectations go up from those who work," he said, drawing another round of laud applause.

PM Modi also highlighted India's Act East policy and the importance of the country's ties with 10-nation ASEAN grouping, besides referring to historical linkages between India and Thailand. The prime minister, on a three-day visit here, will address the annual ASEAN-India summit on Sunday. In his address, Modi also traced historical and cultural links between India and Thailand, saying the relationship has been of “heart and soul”.

Noting that Indo-Thai relationship reflects greater amalgamation of cultural bonds, he said his government has been focusing on enhancing the North Eastern region's connectivity with Thailand. "Once the India-Myanmar-Thailand trilateral highway is thrown open, there will be seamless connectivity between both our countries," Modi said.

"This is my first official visit to Thailand, and I can see a lot of Indianness in various aspects in this country—be it culture, food habits or social values...The entire world celebrated Diwali along with India, and I can see that it was the case here too," he said.

The Prime Minister also talked about the Thai royal family's ties with India and even said that Queen Maha Chakri Sirindhorn is a Sanskrit scholar with a deep connect with India. "The affinity and closeness the Thai royal family has for India reflected the strong historical relationship between the two countries,” he said.

In his speech, Modi also talked how the government is celebrating 550th birth anniversary of Guru Nanak, the founder of Sikhism, and said his teachings were a treasure for not only the Sikh community but for the whole world.

Modi also talked about the Kartarpur Corridor and said pilgrims will be able to visit Gurudwara Kartarpur Sahib in Pakistan once the corridor is thrown open next week. The much-awaited corridor will connect Darbar Sahib in Pakistan's Kartarpur - the final resting place Guru Nanak - with Dera Baba Nanak shrine in India's Gurdaspur district.

Talking about various reform initiatives undertaken by his government, Modi said Indians across the globe feel proud about the changes taking place in India in the last five years. “When India speaks, the whole world listens to it because 1.3 billion Indians are involved in building a new India. Because of the changes, people of India have given us bigger mandate in the Lok Sabha polls then earlier,” he said.

The Prime Minister also said India was among the fastest growing economies in the world and that the country is working hard to become a USD 5 trillion economy in next five years. Modi also said that his government decided that holders of the Overseas Citizens of India card can enrol for the new pension scheme, adding his government is also working hard to significantly improve visa consular services abroad.

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News Network
May 25,2020

New Delhi, May 25: Realtors' apex body CREDAI has written a letter to Prime Minister Narendra Modi, seeking immediate relief measures to tide over the crisis caused by the COVID-19 pandemic.

The association, which has around 15,000 developer members, has sought one-time debt restructuring, lower interest rate on home loans and tax sops to boost liquidity and demand in the sector.

In an open letter to the prime minister, the Confederation of Real Estate Developers' Associations of India (CREDAI) said, "In this distressful situation arising out of the COVID-19 calamity, we in the real estate sector seek immediate relief for our survival."

Stating that the sector contributes substantially to the country's GDP and has backward and forward linkages with almost 250 industries, CREDAI said, "Our survival, therefore, is not just desirable, it is rather crucial for the economy."

Liquidity crunch, stagnant demand and cartelization of raw materials are major impediments for the industry to kickstart, it added.

CREDAI made seven recommendations to revive the sector and sought immediate intervention from the prime minister.

Pointing out that the situation is "much worse" than global financial crisis in 2008, CREDAI said "a one-time restructuring scheme as was permitted by RBI in 2008 may be quickly instituted by all lending institutions."

Since real estate was already reeling under a cyclical downturn before COVID-19, debt restructuring needs to be allowed for all accounts which were standard as on December 31, 2019, it added.

CREDAI demanded that all banks, non-banking financial companies (NBFCs) and housing finance companies (HFCs) should be directed to provide additional credit equal to 20 per cent of the existing real estate project related advances with no additional security and without the classification of project as NPA.

The penal interest charged by banks and financial institutions should be suspended for a period of one year or until such time as it takes for the pandemic to abate.

To revive housing demand, CREDAI suggested that "government should reduce the maximum rate of interest on new home loans to 5 per cent by subsidizing the interest component of EMIs for next five years."

The limit of principal deduction on housing loan under Section 80C should be increased to 2.5 lakh.

Interest deduction under Section 24 on housing loan for homebuyers may be increased to Rs 10 lakh, it said.

There should be no capital gains for residential properties held for a period longer than one year.

CREDAI also demanded that the subvention scheme be allowed again by National Housing Bank (NHB) and the Reserve Bank.

Under the scheme, builders used to pay EMIs on behalf of homebuyers during construction of projects.

"The economic uncertainty and job insecurity at the moment would not allow purchase of residential property at this time. A scheme whereby a homebuyer would need to pay only margin money with no EMI for 24 months will address this insecurity," the letter said.

The association pointed out that prices of cement and steel have been increased during the lockdown period, and asked for crackdown on cartelisation by manufacturers.

On the GST front, CREDAI said that the current regime of GST provides a rate of 1 per cent  for affordable housing.

"The limit of Rs 45 lakh serves as a criterion of affordability for the purpose of GST. On all other housing, GST is applied at the rate of 5 per cent without input tax credit. It has been felt that the criterion of Rs 45 lakh is too low an index of affordability anywhere across the country, and especially so in the metros," the letter said.

It will serve as an inducement to buyers in the metros if the benefit of GST at the rate of 1 per cent is extended to units costing up to Rs 75 lakh, the association said.

CREDAI pointed out that the flat rate of 5 per cent GST for under construction residential housing is causing cost build up and is acting as a deterrent for sale of under construction projects since there is no GST on completed units.

It suggested that GST rate of 1 per cent and 5 per cent, without input tax credit, should continue.

"However, an option of GST @12 per cent for normal housing/ 8 per cent for affordable housing (with 1/3rd deduction for land i.e. effective GST rate of 8 per cent for normal housing and effective GST rate of 5 per cent for affordable housing) with input tax credit (ITC) benefits in line with the scheme applicable for the works contracts for government may be revived and made applicable to the real estate," the letter said.

Lastly, CREDAI demanded that a Rs 25,000 crore stress fund for completing stalled housing projects should be deployed at the earliest.

"We shall be grateful for your much-needed intervention for the above mentioned measures required to revive the real estate sector," CREDAI said in the letter to the PM.

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News Network
July 14,2020

Kathmandu, Jul 14: After staking claim to Indian territories of Lipulekh-Kalapani in  a new controversial map,  Nepal Prime Minister KP Sharma Oli on Monday claimed that Ayodhya, the birthplace of Lord Rama, is in Nepal and Lord Rama was Nepali.

“Although real Ayodhya lies at Thori, city in the west of Birgunj, India has claimed that Lord Rama was born there. Due to these continuous claims, even we have believed that deity Sita got married to Prince Rama of India. However, in reality, Ayodhya is a village lying west of Birgunj,” Oli claimed at an event organised at Prime Minister's residence in Kathmandu.

The Prime Minister also blamed India of cultural encroachment by “creating a fake Ayodhya.”

“Balmiki Ashram is in Nepal and the holy place where King Dashrath had executed the rites to get the son is in Ridi. Dashrath’s son Ram was not an Indian and Ayodhya is also in Nepal,” he claimed.

In an attempt to save self from criticism, Oli questioned how Lord Rama could come to Janakpur to marry Sita when there were "no means" of communication. He further said that it to be impossible for Lord Rama to come to Janakpur from present Ayodhya that lies in India.

“Janakpur lies here and Ayodhya there and there is talk of marriage. There was neither telephone nor mobile then how could he know about Janakpur,” Oli said.

Comments

Ahmed Ali Kulai
 - 
Tuesday, 14 Jul 2020

New controversy

 
BJP got next election Muddah

Farhan
 - 
Tuesday, 14 Jul 2020

Ab Ram Mandir Kaha Banega???

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday said he is "deeply grateful" for the overwhelming support shown by the global community for India''s membership of the UN Security Council.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

India garnered 184 votes out of the 192 ballots cast in the General Assembly to win the election for the non-permanent seat in the powerful Security Council.

India''s two year term will begin on January 1, 2021.

This is the eighth time that India will sit at the UN high-table, which comprises five permanent members and 10 non-permanent members.

"Deeply grateful for the overwhelming support shown by the global community for India''s membership of the UN Security Council," the prime minister wrote on Twitter.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

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