BENGALURU: Presenting his 14th budget overall and first for the current Congress dispensation, Karnataka CM and finance minister Siddaramaiah on Friday announced insurance cover of Rs 4 lakh for gig workers, perhaps a first for any state. Presenting the proposal, Siddaramaiah particularly named delivery workers in e-commerce companies. “In order to provide social security to the gig workers in the unorganised sector, ie, employed as full-time or part-time delivery personnel in e-commerce companies like Swiggy, Zomato, Amazon etc, insurance facility of total Rs 4 lakh will be provided…” Siddaramaiah said.This includes life insurance of Rs 2 lakh and accident cover of Rs 2 lakh.
The premium will be borne by the government. In the run-up to assembly elections in May, Congress leader Rahul Gandhi had interacted with gig workers in Bengaluru, listening to their demands and grievances. The Karnataka-based United Food Delivery Partners’ Union appreciated the move but said they need to be recognised as formal employees and not gig workers.
“The expectations of the Union have not been fulfilled in this budget. We welcome the move to extend insurance coverage to our peers and colleagues but the gig worker has still not received the recognition of being a worker in letter and spirit,” said Vinay Sarathi, president of the union.
The union said its workers are in the field for long hours and toil like everyone else, but are deprived of even the most basic facilities, such as sanitation, drinking water, resting places and so on.
“The government must enact a law to immediately put an end to the gross exploitation and injustice prevalent in the gig economy,” the union said.
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Telangana Chief Minister K Chandrasekhar Rao hit out at the BJP over the Centre’s alleged privatisation moves in the coal and energy sectors.
Addressing a public meeting at Mancherial Friday night after inaugurating the new Integrated District Collector’s office, he also attacked the Congress for “selling off” 49 per cent stake in state-run miner Singareni Collieries.
The Singareni Collieries Company Limited (SCCL) is a government coal mining company jointly owned by the Government of Telangana and Government of India on a 51:49 equity basis.
Singareni Collieries, founded during the Nizam era, is Telangana’s own, he said.
Singareni Collieries’ turnover rose from Rs 11,000 crore in 2014 (when Telangana was formed and BRS came to power) to Rs 33,000 crore, he added.
He alleged that the Congress, when it was in power, had “sold off” 49 per cent stake in the Singareni Collieries to the Centre after failing to repay loans.
Meanwhile, the present BJP-led government at the Centre talks about privatising coal mines and making the Singareni Collieries “sink”, he said.
“You will be surprised if (I) tell you the ‘golmal’ behind this. There is no shortage of coal in the country. Along with Singareni, eastern coalfields, western coalfields, all put together, 361 billion tons of coal has been found in the country and available to people,” he said.
“But, what is happening in the country? When coal reserves of 361 billion tons are there in the country, they say we will privatise electricity, coal mines and close jobs related to electricity and hand over Singareni to private people. What is this bad policy? What is happening in the country?” he said.
Rao, who spoke about efforts of state government to strengthen Singareni Collieries, said the government coal mining company would be expanded and transformed into a great employment resource.
Though so much coal is available in the country, it is not being used and that coal is being imported from Australia and Indonesia, he alleged.
Because, injustice is happening across the country, the TRS has been changed as BRS to face the injustice and that fight would be carried out across the country, he said.
“While the Congress made Singareni Collieries sink half, the BJP is now out to make it sink fully,” he said.
Though PM Narendra Modi had given a word against privatisation of Singareni Collieries during a visit to the state, tenders were called for coal mines after he reached Bengaluru, he claimed.
While the Telangana government provided 24×7 power supply, there is power shortage in different states. There are power cuts even in the National Capital, he said.
With Telangana set to go for polls this year-end, Rao, also known as KCR, announced a hike in the social security pension given to persons with disabilities by Rs 1,000. Following the hike, the pension would be Rs 4,116.
During his Mancherial visit, he launched the programme to distribute house ‘pattas’ to homeless poor and the scheme to provide financial assistance to those among backward classes who are dependent on traditional occupations.
He also launched the second phase of sheep distribution programme to sheep rearers.
During the public meeting, the Chief Minister highlighted the numerous welfare and development schemes of his government, including Rythu Bandhu investment scheme for farmers, Rythu Beema life insurance scheme for ryots, free power to farmers, distribution of piped drinking water to households and success in water projects.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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NEW DELHI: With Prime Minister Narendra Modi completing nine years in office, the Congress on Friday asked him nine questions on issues such as rising prices, unemployment and farmers’ income, and demanded an apology for the “betrayal” during his tenure. The Opposition party also said the government should mark this day as ‘Maafi Diwas’. Former Congress chief Rahul Gandhi had raised critical issues during the Bharat Jodo Yatra and the nine questions are based on that, party general secretary in-charge communications Jairam Ramesh told a press conference at the All India Congress Committee headquarters here. Ramesh, who was flanked by party leaders Pawan Khera and Supriya Shrinate, also released a booklet ‘Nau saal, Nau sawaal’ and said Modi had become the prime minister on this day nine years ago and therefore, the party wants to ask nine questions of him. “We want the PM to break his silence on these nine questions,” Ramesh said. Posing the questions to the prime minister, he asked, “Why is it that inflation and unemployment are skyrocketing in India? Why have the rich become richer and the poor poorer? Why is public property being sold to PM Modi’s friends, even as economic disparities are increasing?” Ramesh also asked why is it that the agreements made with farmers while repealing the three “black” farm laws have not been honoured and why has the minimum support price not been legally guaranteed. Why didn’t farmers’ income double over the last nine years, he asked. Accusing the government of indulging in corruption and cronyism, Ramesh queried why the prime minister is putting people’s hard-earned savings in LIC and SBI at risk to benefit his “friend” Adani. “Why are you letting thieves escape? Why are you silent on rampant corruption in BJP-ruled states, and why are you letting Indians suffer,” he asked. On the issue of national security, Ramesh said the Congress wants to ask “why is it that even after your clean chit to China in 2020, they continue to occupy Indian territory”. He also asked why deliberately “politics of hatred” for electoral gains was being used and alleged that an atmosphere of fear in society was being fuelled. “Why are you silent on the atrocities against women, Dalits, SC, ST, OBCs and minorities? Why are you ignoring the demand for a caste census,” Ramesh said in another poser. He also questioned the government over democracy and federalism, alleging that it has “weakened” our Constitutional values and democratic institutions in the last nine years. Khera alleged that the promises made by the government in the last nine years were detached from the reality. “So when we demand answers, don’t take us 900 years back. Everyone wants to know what you did in the last nine years ….We would urge you (prime minister) to apologise during the events being held in the next five days for the betrayal of the country in the last nine years,” he said. Ramesh asked, “Why are you practising politics of revenge against Opposition parties and leaders and why are you using blatant money power to destabilise governments elected by the people?”. He alleged that the government had “weakened” the schemes for the welfare of the poor, needy and tribals by cutting their budgets and making restrictive rules. “Why is it that despite the tragic deaths of over 40 lakh people due to COVID-19, the Modi government has refused to compensate their families? Why did you suddenly impose a lockdown which forced lakhs of workers to return home, and not provide any support?” Ramesh asked.
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“We want the PM to break his silence on these nine questions,” Jairam Ramesh said.
New Delhi:
With Prime Minister Narendra Modi completing nine years in office, the Congress on Friday asked him nine questions on issues such as rising prices, unemployment and farmers’ income, and demanded an apology for the “betrayal” during his tenure.
The Opposition party also said the government should mark this day as ‘Maafi Diwas’.
Former Congress chief Rahul Gandhi had raised critical issues during the Bharat Jodo Yatra and the nine questions are based on that, party general secretary in-charge communications Jairam Ramesh told a press conference at the All India Congress Committee headquarters here.
Mr Ramesh, who was flanked by party leaders Pawan Khera and Supriya Shrinate, also released a booklet ‘Nau saal, Nau sawaal’ and said PM Modi had become the prime minister on this day nine years ago and therefore, the party wants to ask nine questions of him.
“We want the PM to break his silence on these nine questions,” Jairam Ramesh said.
Posing the questions to the prime minister, he asked, “Why is it that inflation and unemployment are skyrocketing in India? Why have the rich become richer and the poor poorer? Why is public property being sold to PM Modi’s friends, even as economic disparities are increasing?” Mr Ramesh also asked why is it that the agreements made with farmers while repealing the three “black” farm laws have not been honoured and why has the minimum support price not been legally guaranteed. Why didn’t farmers’ income double over the last nine years, he asked.
Accusing the government of indulging in corruption and cronyism, Mr Ramesh queried why the prime minister is putting people’s hard-earned savings in LIC and SBI at risk to benefit his “friend” Adani.
“Why are you letting thieves escape? Why are you silent on rampant corruption in BJP-ruled states, and why are you letting Indians suffer,” he asked.
On the issue of national security, Jairam Ramesh said the Congress wants to ask “Why is it that even after your clean chit to China in 2020, they continue to occupy Indian territory”.
He also asked why deliberate “politics of hatred” for electoral gains were being used, and alleged that an atmosphere of fear in society was being fuelled.
“Why are you silent on the atrocities against women, Dalits, SC, ST, OBCs and minorities? Why are you ignoring the demand for a caste census,” Mr Ramesh said in another poser.
He also questioned the government over democracy and federalism, alleging that it has “weakened” our Constitutional values and democratic institutions in the last nine years.
Pawan Khera alleged that the promises made by the government in the last nine years were detached from reality.
“So when we demand answers, don’t take us 900 years back. Everyone wants to know what you did in the last nine years ….We would urge you (prime minister) to apologise during the events being held in the next five days for the betrayal of the country in the last nine years,” he said.
Mr Ramesh asked, “Why are you practising politics of revenge against Opposition parties and leaders and why are you using blatant money power to destabilise governments elected by the people?”.
He alleged that the government had “weakened” the schemes for the welfare of the poor, needy and tribals by cutting their budgets and making restrictive rules.
“Why is it that despite the tragic deaths of over 40 lakh people due to COVID-19, the Modi government has refused to compensate their families? Why did you suddenly impose a lockdown which forced lakhs of workers to return home, and not provide any support?” Mr Ramesh asked.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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Congress General Secretary in-charge Communications Jairam Ramesh. File
| Photo Credit: ANI
As the Life Insurance Corporation (LIC) marked one year since listing its shares on the stock exchanges, the Congress on May 17 attacked the Modi Government over the fall in the firm’s market capitalisation.
The country’s largest insurer LIC had this day last year listed its shares on the NSE and the BSE, and Congress general secretary Jairam Ramesh sought to link the decline in the market cap of the firm to the investment in Adani companies, a charge rejected by the BJP which accused him of misleading people with “half information”.
In a tweet, Mr. Ramesh said, “Exactly a year ago today, LIC was listed in the stock market. Its market capitalisation then stood at ₹5.48 lakh crore. Today, this is down to ₹3.59 lakh crore a fall of a whopping 35%!” “There is only one reason for this steep fall Modani. In the process, lakhs and lakhs of policyholders have taken a serious hit,” he said and tagged a screenshot of a media report which claimed that LIC share has wiped out ₹1.9 lakh crore since listing.
Exactly a year ago today, LIC was listed in the stock market. Its market capitalisation then stood at Rs 5.48 lakh crore. Today, this is down to Rs 3.59 lakh crore—a fall of a whopping 35%!
There is only one reason for this steep fall—Modani.
The BJP hit back at Mr. Ramesh with the saffron party’s Information Technology department head Amit Malviya saying that the LIC’s exposure in Adani Group was less than 1%.
The Congress has been attacking the government over the fall in the value of LIC’s holdings in the Adani Group and had asked who “forced” this pillar of India’s financial system to take such a risky exposure to the conglomerate.
The Congress has been demanding a Joint Parliamentary Committee probe into the allegations against the Adani Group by U.S.-based short-seller Hindenburg Research. The Adani Group has dismissed the allegations as baseless.
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As Karnataka gears up for the upcoming Assembly elections, poll promises by the grand old party include a slew of public welfare measures. The Congress’ road map for the impending elections, among other things like quota hike and repealing “unjust laws” made by the government, assures the return of the Old Pension Scheme (OPS) within a year of helming the government.
The Karnataka Congress’ manifesto states that it will “sympathetically consider the extension of OPS to government servants that got inducted from 2006 onwards.”
Before delving into the details of the OPS, it is interesting to note that the alternate national party insists on the restoration of the older scheme against the New Pension Scheme (NPS).
Last year, the Congress government in Himachal Pradesh kept its promise in this regard, which it made before the Assembly elections. The northern state approved the restoration of OPS in its very first Cabinet meeting held earlier this year.
There are about 1.36 lakh employees including pensioners under the New Pension Scheme (NPS) in Himachal Pradesh.
However, as far as the Congress’ campaign in Himachal Pradesh went, it indicated that the party had gained significantly from promising to restore OPS.
While the OPS plank did not outrightly win Congress the Himachal election, it did give the party a last-mile advantage. But certainly, the promise of restoration of OPS makes an impact on government employees and their families, and even young voters aspiring for a government job.
Coming to the understanding of the NPS and how it differs from the OPS, it is fundamentally a change in the pension system introduced by the two rival national parties.
The National Pension System came into effect in 2004 after the Congress government introduced it in 2003. This claims to provide a defined contribution of pension for Indian citizens. The NPS was launched as an alternative with the purpose of providing a secure and stable retirement income.
A fundamental difference between the NPS and OPS is the extent of guaranteed pension provided to the beneficiary. The NPS provides no guaranteed pension, but OPS does, based on the individual’s last drawn salary and the number of years of service. For those looking for a guaranteed pension in their retirement, OPS is a more secure and stable method.
While OPS is open to government employees who have completed at least 10 years of service, NPS is open to all citizens of India between the ages of 18 and 60, and the pension received is based on the investment made by the person, and in turn, the returns generated by the pension funds. This scheme also provides for a life insurance cover of Rs 5 lakh for the subscriber.
Further, with respect to contribution, the NPS is more flexible than the OPS as under the former, one can choose to invest in a variety of pension funds, unlike in OPS, which is exclusively salary and service-period based.
Up to 14 per cent of the basic salary of a government employee and up to 10 per cent for the private sector employee can contribute for NPS. It is an advantage for an investor as this is over and above the 80C section of Rs 1.5 lakh.
Here, a Tier-2 account is not compulsory unlike the Tier-1 account where one gets tax benefits. Tier-2 can be treated like an investment which one can exit during the course of investment. The primary objective of Tier-1 is a long-term investment with tax savings, whereas for Tier-2, it is an investment.
After 60, one is free to withdraw — up to 60 per cent of withdrawal could be upfront and remaining could be converted into annuity. Additionally, as a benefit, one may choose their annuity partner.
At present, there happen to be eight different pension funds that provide the option of annuity.
The NPS sets forth two options before the investor: an active choice where a subscriber can decide the extent of his participation in equity and corporate debt — one can invest up to 75 per cent into equity and remaining could go into corporate debt/government security; and the second option for those preferring a predefined automated system whereby depending on one’s age, the asset allocation moves between equity and debt.
Considering which option is better, it depends on the risk-taking ability of the investor.
Technicalities of the two schemes apart, for the common man, the pension scheme is an instrument of social and financial security, and any tinkering with this is bound to affect the mood of the electorate and impact poll results.
(Kavya Dubey may be reached at kavya.d@ians.in)
–IANS
kvd/bg
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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AAP leader Atishi said, “The central government agency sent a notice to CM Kejriwal. This is the BJP’s formula to eliminate its opponents. Whoever raises a voice against them will be eliminated. Thousands of crores were invested in PM Narendra Modi and his friend’s company. LIC’s Rs 50,000 crore was drowned. All these were not investigated. But CM Kejriwal exposed it.”
“I want to tell the PM that none of the leaders of our party are going to be afraid of your threats. We were born to fight corruption. You may hang us, but we are not afraid of you,” she added.
AAP leader Sanjay Singh said, “PM Modi has invested lakhs of crores of black money in his friend Adani’s company. In the Legislative Assembly of Delhi, Arvind Kejriwal exposed the truth about Modi’s corruption. The CBI notice is his punishment. The campaign against your scam will continue.”
While addressing a press conference, Sanjay Singh said that a conspiracy is being hatched to arrest Chief Minister Arvind Kejriwal.
After the video of a young schoolgirl from Jammu went viral, who requested PM Modi to build a nice school for them, AAP reacted, “PM Modi, with a fake degree, is very busy with fake cases against opposition parties and looting the country along with his dear friend. PM Modi only knows how to build a BJP headquarters worth hundreds of crores by looting the country. Only Arvind Kejriwal will build your school.”
àäÆàäªàäàä¾ School àääàå àä¸àä¿àä°àåàäëàä¼ Kejriwal àäàå àä¹àå àä¬àäèàä¾àäàäàäàåàåä https://t.co/pXv87i0Va3
— AAP (@AamAadmiParty) April 14, 2023
BJP’S SCATHING ATTACK ON KEJRIWAL
“He (Arvind Kejriwal) should stop giving himself a certificate of being staunch honest. If the CBI has summoned you, then you will have to answer them,” said BJP spokesperson Harish Khurana on CBI summons to Delhi CM Arvind Kejriwal.
VIDEO | “He (Arvind Kejriwal) should stop giving himself certificate of being staunch honest. If the CBI has summoned you, then you will have to answer them,” says BJP spokesperson Harish Khurana on CBI summon to Delhi CM Arvind Kejriwal in excise policy scam case. pic.twitter.com/HuNnbb1JKq
— Press Trust of India (@PTI_News) April 14, 2023
CONGRESS DEMANDS KEJRIWAL’S RESIGNATION
Delhi Pradesh Congress Committee president, Anil Chaudhary, took to Twitter and wrote, “Kejriwal is the mastermind responsible for making Delhi the “Capital of Scams”. If you want to save the dignity of the post of CM, then “by resigning” come to the CBI doorstep!”
In February, the Central Bureau of Investigation (CBI) arrested Delhi Deputy CM and AAP leader Manish Sisodia. He was arrested after being questioned for over eight hours in the Delhi excise policy case.
Sisodia was arrested under sections 120 b (criminal conspiracy), 477 A (intent to defraud) of the Indian Penal Code and Section 7 of the Prevention of Corruption Act.
In July last year, Delhi Lieutenant Governor VK Saxena recommended a CBI probe into the allegations that the new excise policy gave “undue benefits” to private liquor vendors. Later in August, the CBI raided over 20 locations in Delhi-NCR and Punjab. Manish Sisodia’s house was among the locations that were raided.
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BJP members repeated their demand for an apology from Rahul for his comments, accusing him of insulting India on foreign soil.
Union Minister Piyush Goyal, who was present in Lok Sabha on Wednesday morning, even asked Speaker Om Birla to “fix the responsibility” of Rahul’s “insult to Parliament” on other Congress MPs who were protesting, seeking a Joint Parliamentary Committee (JPC) probe into allegations of stock manipulation, among others, raised in the Hindenburg report on the Adani Group, allegations that the Group has dismissed as baseless.
Sources in BJP said the party wants to keep the heat on Rahul and the Congress even at the cost of Parliament proceedings getting adjourned without transacting any legislative business. “The government has the Finance Bill to be passed, which will happen anyway. There are no key Bills on the agenda. Anyway, almost everyone — in the ruling party and the Opposition — is in election mood,” a party leader said, referring to the coming Karnataka Assembly elections.
Besides the Finance Bill, 35 Bills are pending — 26 of them in Rajya Sabha and nine in Lok Sabha. “But none of them is in the urgent category,” the BJP leader said.
As of now, sources said, Personal Data Protection Bill, the most awaited Bill, was unlikely to come up in this Session. But, according to them, the government wants to take up the Bill if Parliament gets back to normalcy. The Bill is at present with the legal department for vetting and has to be cleared by the Cabinet.
On Wednesday, the BJP stepped up its attack on Rahul outside Parliament, too, with Union minister Smriti Irani addressing a press conference and alleging that the Congress MP’s grudge against Prime Minister Narendra Modi had taken the shape of a grudge against India. Referring to Rahul’s remarks in the UK, Irani alleged that he lamented the “lack of foreign intervention” in India’s democracy “at the feet of India’s colonial past”.
Irani said the “lies that became a foundation of the Congress leader’s conversation in England” are many.
Poll mood evident
The poll mood was evident in the House as soon as the Budget Session resumed on Monday after a break. The ruling party’s MPs were on their feet with the slogan “Rahul Gandhi maafi mango (Rahul Gandhi, apologise)” right from the first day, while Opposition MPs protested, seeking a JPC probe into the alleged stock manipulation by the Adani Group. While Congress, DMK, NCP, Left and BRS members were in the Well of the House, their Trinamool Congress (TMC) counterparts protested standing near their seats.
On Wednesday, as soon as the Lok Sabha assembled, Opposition members stormed into the Well, carrying placards that stated “Save SBI, Save LIC” and shouting slogans, asking the Prime Minister to answer. Counter-slogans were raised from the Treasury Benches, demanding an apology from Gandhi for his remarks on Indian democracy.
As Congress MPs entered the Well, Goyal was heard saying, “This is a serious issue. There has to be strict action on these members (protesting with placards). One member goes abroad and insults Indian Parliament. Until he apologises, the responsibility should be fixed on them (protesting Congress MPs). I wonder if they do not feel insulted by the remarks he (Rahul) made.”
He also said, “Whoever brings placards to the House should be suspended from the House.”
Speaker Om Birla warned Congress MPs against bringing placards to the House. “Please try not to make comments on the House outside this House,” he said. Birla also told the protesting Opposition members, “This House is meant for holding discussions and dialogues. Let’s talk about policy and have a good discussion on issues related to public welfare. If we want people’s welfare and consider this House a temple of democracy, I will request that at least don’t comment on this House (outside).”
As members refused to relent, Birla adjourned the House until 2 pm. When the House resumed, sloganeering continued from both sides, even as Bhartruhari Mahtab, who was in the Chair, kept requesting for order.
Amid the din, MoS (Defence) Ajay Bhatt introduced the Inter-Services Organisations (Command, Control and Discipline) Bill, 2023. The Bill is aimed at empowering the Commander-in-Chief or the Officer-in-Command of Inter-services Organisations in respect of service personnel who are subject to the Air Force Act, 1950; the Army Act, 1950; and the Navy Act, 1957, who are serving under or attached to his command, for maintenance of discipline and proper discharge of their duties.
In the afternoon, Parliamentary Affairs Minister Pralhad Joshi kept up the attack on Gandhi, saying, “We are receiving information and calls from the diaspora across the globe that a member of this House is insulting India…he has cast aspersions on the Speaker… Directly, this is an allegation on the Speaker and the institution (Parliament).”
He also said, “Rahul Gandhi has said that MPs who stand outside Parliament have also been arrested. Where have they been arrested? Saying things like this and inviting other countries to intervene in the affairs of a sovereign country is ghor apmaan (gross insult) of India.”
But instead of seeking an apology for this “gross insult”, Opposition members are bringing placards into the House, he said. “Therefore, action should be taken. This is our demand,” Joshi said. Mahtab subsequently adjourned Lok Sabha for the day.
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The Uddhav Thackeray-led faction of Shiv Sena on Monday said the time has come to stand up to the Bharatiya Janata Party’s “corruption washing machine” to save the country and cited the letter written by Opposition leaders to Prime Minister Narendra Modi highlighting the “authoritarian regime”.
In an editorial published in its mouthpiece Saamana, the Shiv Sena said harassing the Opposition and staying in power doesn’t augur well for democracy.
Leaders of nine opposition parties, including chief ministers Mamata Banerjee and K Chandrashekar Rao, have written to the prime minister alleging “blatant misuse” of Central agencies against members of the opposition.
Nationalist Congress Party (NCP) chief Sharad Pawar and Uddhav Thackeray are the signatories from Maharashtra. “Now is the time to stand up to the BJP’s ‘Corruption Washing Machine’ and save the country. A letter signed by several Opposition leaders including former chief minister Uddhav Thackeray and addressed to Prime Minister Narendra Modi has thrown a light on the authoritarian regime in the country,” the Saamana said.
The “washing machine” analogy is often used by Shiv Sena (UBT) leaders to target BJP over the induction of “corrupt” leaders into that party and extending “protection” to them.
“The letter has highlighted an increase in actions against Opposition leaders since 2014 when the BJP came to power in the country. But the leaders facing charges of corruption who have joined the BJP never faced any action. Most of such cases were false,” the editorial said.
The Sena (UBT) said the country is witnessing “unprecedented chaos” under the Modi government.
“Autonomous government institutions are being privatised. This is more dangerous than Al Qaida and the Taliban. The Election Commission of India is wagging its tail before the BJP, which is why the Supreme Court has ordered the formation of a three-member committee for its future appointments,” it said.
The edit also referred to the ‘Insaaf ke sipahi’ platform floated by noted lawyer Kapil Sibal to help the people fight injustice with lawyers at the forefront. “It is not good for democracy to harass the Opposition and stay in the power,” the edit said.
The Sena (UBT) also questioned BJP’s criticism of Congress leader Rahul Gandhi over his speech at Cambridge University wherein he had said Indian democracy is under attack and several politicians, including himself, are under surveillance.
“If he defamed the country, then it needs to be asked whether the claims made by Narendra Modi during his speeches during his previous foreign trips against Jawaharlal Nehru, Indira Gandhi, Rajiv Gandhi and their regimes were not defaming the country?” the editorial asked.
The Sena faction alleged corruption cases against BJP leaders are being suppressed.
“It is now clear that the BJP which has amassed thousands of crores through corrupt practices has invested (the money) via (Gautam) Adani and turned them into white cash. Several PSU banks and LIC lost their investments. PM Modi talks against corruption, but it is the most corrupt regime,” the editorial said.
The Sena (UBT) also claimed the CBI and the ED are “still not seen anywhere despite Rs 8 crore cash being found at the residence of a BJP legislator in the poll-bound Karnataka. No BJP leader is ready to talk about it”.
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NEW DELHI: Claiming that the ‘PM-blessed’ Adani group is facing trouble raising funds abroad while being “heavily over-leveraged”, Congress on Wednesday wrote to the Reserve Bank of India asking for “implicit or explicit government assurances” given to the business conglomerate about a future bailout in case of financial troubles with foreign entities. The AICC has also asked Sebi for a probe into the “overvalued” Adani scrips, and why was a high exposure of top public companies like LIC and SBI allowed into the group which has cost ordinary Indians crores of rupees in the recent market turbulence. Congress general secretary Jairam Ramesh shot off letters to RBI chairman Shaktikanta Das and Sebi chairperson Madhabi Puri Buch, demanding probes into allegations of financial irregularities and stock manipulation, including round tripping and use of shell companies to over value the stocks, against the “influential business house”. Addressing Das, Ramesh said RBI should ensure that “excessive debt exposure” by the Adani group does not destabilise India’s banking system, talking of a possible “contagion”. “The Adani group has been described as ‘deeply over-leveraged’ – if the Adani group has artificially inflated the value of its stock through manipulation by offshore shell companies and raised funds by pledging those overvalued shares, the recent sell-off in stock prices is creating vulnerabilities for the Adani group to find financing, and by implication for India’s banking system,” he noted, specifically seeking RBI focus on real Adani group exposure of the Indian banking system and the possible government guarantees to the Adanis that it will be given a bailout should foreign funding dry up. “Will RBI ensure that Indian banks are not forced to step in to substitute for any shortfall in foreign financing, especially given the Adani group’s political connections,” Ramesh asked. Talking about charges of manipulation against the business group in his letter to the Sebi chief, Ramesh said, “Apart from the potential violation of several Indian laws, this goes against everything that Sebi stands for. We urge you to investigate all potential violations and ensure complete transparency about who is investing in Adani group companies.” He said inclusion of Adani Enterprises in the “National Stock Exchange Nifty 50 index” in September 2022 occurred despite the firm’s weak fundamentals, an excessive price-to-earnings ratio and a tiny free-float. He complained that the stock remains in key Indian indices despite global indices having suspended the group.
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We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here
