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Tag: Modi Government

  • Now, More Traffic Challans Could Raise Your Insurance Premiums? Delhi LG Urges Modi Government – Full Details | Auto News

    Traffic Challans & Insurance Premiums In India: Delhi Lieutenant Governor VK Saxena has written to Union Finance Minister Nirmala Sitharaman, proposing a stringent road safety plan that seeks higher insurance premiums for vehicles with a history of traffic violations. Saxena said that a vehicle, which has been frequently challaned for traffic offences such as over-speeding, red light jumping and dangerous driving should be obligated to pay higher insurance premium.

    In his letter last week, the lieutenant governor said this financial deterrent would encourage a better driving behaviour as there is an obvious co-relation between repeat traffic offences and the risk of accidents. “I would, therefore, suggest that a layered insurance premium system based on the frequency and severity of traffic violations as recorded in MoRTH’s VAHAN database may be introduced,” reads the letter.

    Insurance premium should be index-linked with the number of traffic violations recorded against a vehicle, which would have a salutary impact on road safety and traffic discipline, he said. Citing a 2023 report of the Delhi Traffic Police, Saxena said that 60 per cent of fatal road accidents involved vehicles that had previously been fined for traffic violations, primarily over-speeding and red-light jumping.

    The vehicles with more than three traffic challans in a given year were found to have a disproportionately high involvement in severe accidents, he said. Saxena also said that according to the Ministry of Road Transport and Highways (MoRTH), India recorded over 4.37 lakh road accidents in 2022, resulting in approximately 1.55 lakh fatalities.

    Notably, over-speeding accounted for nearly 70 per cent of these accidents, while violations such as red-light jumping contributed significantly to fatal accidents. 

    Analysis of accident data by the World Bank indicates that vehicles with multiple traffic violations have a 40 per cent higher risk of being involved in fatal crashes compared to those with a clean driving record, he said.

    Saxena has also urged the Union finance minister to engage the Insurance Regulatory and Development Authority of India (IRDAI) to take immediate action to establish a framework for index-linked insurance premiums.

    The lieutenant governor has underlined in his letter that implementing such a system would not only align insurance costs with the actual risk posed by individual drivers but will also reduce the financial burden on insurers resulting from frequent claims.

    This financial deterrent driven approach which is practised in the US and European countries would promote responsible driving behaviour, leading to a reduction in accidents, saving lives and ensuring more efficient management of insurance claims, he said.

    “Such measures have been successfully implemented in other countries such as the United States, where insurance premiums increase significantly based on traffic violation and speeding tickets leading to an average premium increase of 20 to 30 per cent. This also followed in several European Nations,” reads the letter.

    By implementing this policy, India can take a significant step towards creating safer roads, saving lives and ensuring a more sustainable transportation system for generations to come, the letter mentioned.

  • EPFO Reports Highest Monthly Payroll Additions In July 2024 | Personal Finance News

    New Delhi: The Employees’ Provident Fund Organisation (EPFO) has reported its highest-ever monthly payroll addition in July 2024, with a 19.94 lakh members joining the ranks.

    This highlights a shift in India’s employment landscape, reflecting the effectiveness of the Modi Government’s transformative schemes aimed at driving job creation and formalising the job market.

    The EPFO data indicates that of the new additions, 10.52 lakh are first-time employees, marking a 2.66 per cent increase over June 2024 and a 2.43 per cent rise compared to July 2023. This uptick in employment showcases an expanding job market and increased opportunities, particularly for youth and women.

    India’s massive push toward economic growth and job creation has been bolstered by key government initiatives like the Production Linked Incentive (PLI) Scheme, the Startup India movement, the Employment Linked Incentive Scheme, and significant capital expenditure (Capex) drives.

    Year-wise net payroll additions further underscore the progress being made: in 2022-23, there were 138.52 lakh net additions, while in 2023-24, this number was 131.48 lakh.

    Youth employment is leading the surge in formal job creation, with 8.77 lakh young individuals contributing to the net payroll in July 2024 alone.Among these, 6.25 lakh were first-time employees, accounting for 59.41 per cent of total new joiners in the month. This growth can be attributed to initiatives like the National Career Service (NCS), which currently hosts over 20 lakh active vacancies and has registered 33.72 lakh companies, indicating robust hiring across various sectors.

    A key highlight of July 2024 is the rise in female workforce participation. The data shows that 4.41 lakh women joined the formal sector in July, with 3.05 lakh being new joinees.The net female workforce grew by 14.41 per cent, while the number of new female members increased by 10.94 per cent. This substantial rise in female employment reflects the government’s focus on improving access to education, skill development programs, and support services like working women hostels.

    Industry-wise, the top sectors driving the highest net payroll additions in July 2024 include manufacturing, marketing services, the usage of computers, and building and construction.These industries collectively accounted for over 2 lakh new members, while other sectors such as expert services, electronic media companies, and banks also contributed to the rising employment numbers.  

  • One Nation, One Election: Cabinet Approves Kovind Panel Report On Simultaneous Polls |

    The Union Cabinet on Wednesday gave its nod to the ‘one nation, one election’ proposal, as per the Kovind committee’s recommendation, announced Union Minister Ashwini Vaishnaw. The high-level committee’s report on ‘one nation, one election’ was presented to the Union Cabinet the same day. The committee, led by ex-president Ram Nath Kovind, had initially submitted its findings in March, just before the Lok Sabha election dates were declared.

    The approval of the report was unanimous, Vaishnaw confirmed. The submission of the report to the Cabinet aligns with the law ministry’s agenda for the first 100 days. The committee suggested that the Lok Sabha and state Assembly elections should be conducted simultaneously as an initial measure, followed by aligned local body elections within the subsequent 100 days.

    Furthermore, the committee proposed the formation of an ‘Implementation Group’ tasked with overseeing the application of the committee’s recommendations. It also advised the Election Commission of India (ECI), in collaboration with state election bodies, to prepare a unified electoral roll and voter ID cards.

    Currently, the ECI oversees Lok Sabha and Assembly elections, while state election commissions manage local body elections for municipalities and panchayats. The committee’s recommendations include up to 18 constitutional amendments, the majority of which do not require ratification by state Assemblies. Nonetheless, these amendments will necessitate the passage of specific Constitution amendment Bills in Parliament.

    Certain recommendations, such as those pertaining to a single electoral roll and voter ID card, will require the approval of at least half of the states. In a related development, the Law Commission is expected to release its report on simultaneous elections soon, a concept strongly supported by Prime Minister Narendra Modi.

    It is anticipated that the Law Commission will suggest conducting concurrent elections for all three levels of government—the Lok Sabha, state Assemblies, and local bodies like municipalities and panchayats—starting with the elections in 2029, and also propose a framework for a unity government in scenarios like a hung parliament.

  • Explained: What is Modi Government’s ‘Purvodaya’ Plan – Focus on 5 States |

    To give a new direction to the development of Eastern India, the Modi government has unveiled an ambitious plan called ‘Purvodaya’. This plan aims to boost the comprehensive development of states like Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. Finance Minister Nirmala Sitharaman announced this plan, highlighting that these states are rich in natural resources and have a strong cultural heritage. Despite this, the development in these states has been relatively slow. The objective of the ‘Purvodaya’ plan is to integrate these states into the mainstream of development and make them a part of ‘Viksit Bharat’ or ‘Developed India’.

    Purpose and Key Elements of the Purvodaya Plan

    The main goal of the Purvodaya plan is to accelerate the economic and social development of Eastern India. The plan encompasses human resource development, infrastructure building, and the creation of economic opportunities. The government believes that investment and development in these regions will contribute significantly to the progress of the entire nation.

    Infrastructure Development

    Under the Purvodaya plan, special attention will be given to the development of critical infrastructure such as highways, water projects, and power projects. Prime Minister Narendra Modi stated that this plan will infuse new energy and momentum into the development of the eastern region. These projects are expected to not only create local employment opportunities but also improve the economic status of the entire region.

    Human Resource Development

    Human resource development is another crucial aspect of the Purvodaya plan. It focuses on improving education, healthcare, and skill development. Finance Minister Nirmala Sitharaman mentioned in her budget speech that this plan will provide better education and healthcare services to the people of these regions. Additionally, skill development programs will be launched to make the youth employable.

    Creation of Economic Opportunities

    The Purvodaya plan also emphasizes the creation of economic opportunities. This includes the establishment of industries, agricultural development, and the promotion of tourism. Union Home Minister Amit Shah stated that this scheme will energize the infrastructure, human resources, and employment opportunities in these regions, playing a crucial role in building a developed and self-reliant India.

    Challenges and Possibilities

    However, it is still unclear what metrics were used to select these five states. The government will face several challenges in making this plan successful. Adequate financial resources will be required for infrastructure development. Moreover, coordination with state governments will be crucial for the effective implementation of the plan.

    The Purvodaya plan has received mixed reactions from the public and experts. Some see it as a significant step towards the development of Eastern India, while others view it as an electoral strategy.

  • Budget 2024: Demands To Set Up 8th Pay Commission Pressed Before FM Sitharaman | Personal Finance News

    New Delhi: With just a week remaining for the Union Budget 2024 to be presented in Parliament by Finance Minister Nirmala Sitharaman, S B Yadav, Secretary General of the Confederation of Central Govt Employees and Workers has written a letter to the Cabinet Secretary, demanding the constitution of the 8th Pay Commission. 

    In the letter, the top three demands that have been put forth are –Immediate Constitution of 8th Central Pay Commission, Scrapping of NPS and Restoration OPS; and Releasing of 18 months DA/DR which was frozen during the COVID -19 Pandemic to employees and Pensioners.

    The following are the Charter of Demands that have been proposed by Yadav in his letter.

    1. Immediate Constitution of 8th Central Pay Commission.

    2. Scrap NPS, Restore OPS for all employees.

    3. To Release 18 months DA/DR which was frozen during the COVID -19 Pandemic to employees and Pensioners, Restoration of commuted part of pension after 12 years instead of 15 years at present.

    4. Remove 5% ceiling on Compassionate Appointment, grant compassionate appointment to all the wards/Dependents of the deceased employee.

    5. Fill up all vacant posts of all the cadres in all Departments, stop outsourcing and contractorization in Government Departments.

    6. Ensure Democratic functioning of Association/Federations as per provisions of JCM mechanism: (A) Grant recognition to Association/Federations which are pending, Withdraw the de-recognition orders of Postal Gr. C Union, NFPE, ISROSA. (B) Stop imposition of Rule 15 1(c) on service Association/Federations.

    7. Regularize Casual, Contractual labours and GDS employees, grant equal status to employees of Autonomous Bodies to that of CG Employees.

    8th Pay Commission Proposal Previously Sent

    A couple of weeks ago, the proposal to set up the 8th Central Pay Commission was sent by Shiv Gopal Mishra, Secretary, National Council (staff side, Joint Consultive Machinery for central government employees) to the Modi government.

    In his letter to the Cabinet Secretary, Mishra has urged the government to set up the 8th Pay Commission and deliberate on pay and allowances revisions.

    The 8th Central Pay Commission, once set up and recommendations are accepted, will impact the salary brackets of approximately 49 lakh government employees and 68 lakh pensioners.

    The pay commission is usually implemented after a gap of 10 years. Since the recommendations of the 7th Pay Commission was accepted in 2016, the next will be in effect in 2026.

    If the government decides to set up the 8th pay commission, it will require over a year or 18 months for its recommendations to be submitted. And once 8th Pay Commission recommendations are accepted by the government, it is most likely that it will be implemented by 2026, as per media reports.

     

  • 8th Pay Commission: Expected Salary Hike, Fitment Factor, Implementation Date And All Other Details | Personal Finance News

    New Delhi: With the Modi government staking claims at the centre for the third time, a lot of speculations have also started yet again regarding the formation of the 8th Central Pay Commission that will impact the salary brackets of approximately 49 lakh government employees and 68 lakh pensioners.

    Govt In July 2023 Said No Proposal For Formation Of 8th Central Pay Commission

    Meanwhile, amidst a lot of ongoing speculations among the central government employees regarding the update on the 8th Central Pay Commission, Janata Dal Party’s Ram Nath Thakur raised pertinent questions during the Rajya Sabha session on July 25, 2023. The focus of the inquiries was on matters concerning the pay and pension for Central employees.

    Responding to the query, then Minister Of State For Finance Pankaj Chaudhary big update on the setting up of the 8th pay commission. The question was raised in the Rajya Sabha as the rate of DA/DR is projected to cross 50 percent or even more from January 2024, whether the Central Government proposed to set up Eighth Central Pay Commission or not. Chaudhary, responding to the question said that there is no such proposal is under consideration of the Government. 

    8th Central Pay Commission Formation Gaining Traction After 2024 LS Elections

    However, with the Lok Sabha Elections now over, the news around the formation of 8th Central Pay Commission is yet again gaining traction.

    8th Pay Commission Expected Implementation Date

    If the government decides to set up the 8th pay commission, it will require over a year or 18 months for its recommendations to be submitted. And once 8th Pay Commission recommendations are accepted by the government, it is most likely that it will be implemented by 2026, as per media reports.

    8th Pay Commission Expected Pay Hike

    Usually the recommendation of the pay commission over the salary hike of employees is based on fitment factor. Incase the 8th Pay Commission is set up for recommendations, it is most likely that the fitment factor will be set at 3.68 times. Now, considering  the minimum basic salary of government employees at Rs 18,000, they can expect a hike of Rs 8,000 to Rs 26,000 in their basic pay, if fitment factor of 3.68 times is placed upon.


    7th Central Pay Commission Notified In 2016

    Bringing huge relief for lakhs of Central Government employees, the implementation notification of the 7th Pay Commission was issued in July 2016, thereby paving the way for the employees to get the revised pay from their August salaries.

    The Government after consideration decided to accept the recommendations of the Commission in respect of the categories of employees covered in its terms of reference of the Commission’s recommendations on Minimum Pay, Fitment Factor, Index of Rationalisation, Pay Matrices and general recommendations on pay without any material alteration with the following exceptions in Defence Pay Matrix in order to maintain parity in pay with Central Armed Police Forces.

  • Bad Loans During UPA Stifled Credit Needs Of Startups And Small Businesses: Sitharaman | Economy News

    New Delhi: The bad loans crisis during the Congress-led UPA tenure stifled the credit requirements and dreams of crores of aspirational Indians who wanted to establish start-ups and expand small businesses, alleged Finance Minister and senior BJP leader Nirmala Sitharaman.

     In a long thread of posts on her X timeline, she launched an attack on the Congress party and its allies, alleging that the UPA government chose to favour dynasts and cronies while leaving a large chunk of Indians in the lurch.  (Also Read: SEBI Bans THESE 5 Entities From Securities Markets For 3 Years: Check List)

     “When the Modi government took charge, these cronies fled, fearing prosecution,” she wrote in her four-part X post, in an apparent reference to fugitives that have flown out of the country since Prime Minister Narendra Modi came to power. (Also Read: Stock Market Holidays June 2024: BSE, NSE Trading Closed On THESE Dates- Check Here)

     Further, targeting her party BJP’s principal Opposition party Congress, Sitharaman said those who take credit for the nationalization of banks kept the nation’s poor and middle class unbanked for decades “while their leaders and allies climbed the ladders of corruption.”

    According to her, it was under PM Modi that the banking sector turned around for the better. She said that it is her government that brought in comprehensive and long-term reforms. “Our reforms addressed credit discipline, recognition and resolution of stress, responsible lending and improved governance.”

     She said her government “replaced political interference in banks with professional integrity and independence.” “Our govt, in 2015, issued a framework for the timely detection and investigation relating to large value bank frauds.”

     She listed out how her government brought in the Insolvency and Bankruptcy Code (IBC) for faster recoveries; the Fugitive Economic Offenders Act of 2018 was enacted for the seizure of fugitive economic offenders’ property.

     Specialised monitoring agencies were deployed for effective monitoring of loans above Rs 250 crore. Sharpening her attack further, she said the Opposition is habituated to spreading lies. She adds that the Opposition wrongly claims that there has been a “waiver” of loans given to industrialists.

     “Despite claiming to be “experts” in finance and economy, it’s a pity that opposition leaders are still unable to distinguish between write-offs and waivers. After the ‘write-offs’ as per RBI’s guidelines, banks actively pursue the recovery of bad loans. And, there has been no “waiver” of loans for any industrialist. Between 2014 and 2023, banks recovered more than Rs 10 lakh crores from bad loans.”

     She put out figures that the Directorate of Enforcement (ED) has investigated around 1,105 bank fraud cases, which resulted in the attachment of proceeds of crime amounting to Rs 64,920 crores. As of December 2023, assets amounting to Rs 15,183 crores have been restituted to the government-owned banks.

     “There has been no leniency in recovering bad loans, especially from large defaulters, and the process is ongoing,” she assured. As per the finance minister, the ‘seeds’ of the NPA crisis were sown during the Congress-led UPA era through ‘Phone Banking’ – a term used to allege that politicians of those times had favoured businesses while disbursing out loans.

     “…loans were given to undeserving businesses under pressure from UPA leaders and party functionaries,” Sitharaman wrote. “Under the UPA, obtaining loans from banks often depended on powerful connections rather than a solid business proposition. Banks were forced to neglect proper due diligence and risk assessment before sanctioning these loans. This led to a massive increase in Non-Performing Assets (NPAs) and institutionalised grafts.”

     “Many banks hid and avoided reporting their bad loans by ‘evergreening’ or restructuring them,” she added. Against that backdrop of high bad loans and the health of banks in disarray, banks had then become reluctant to lend to new borrowers, especially MSMEs.

     “From having a ‘Twin Balance Sheet Problem’, we now have a ‘Twin Balance Sheet Advantage’,” she said. During 2023-24, Public Sector Banks recorded the highest-ever aggregate Net Profit of Rs 1.41 lakh crore, almost four times higher than Rs 36,270 crore in 2014.

     Net NPAs of public sector banks declined to 0.76 per cent in March 2024 – from 3.92 per cent in March 2015, and from a peak of 7.97 per cent in March 2018. Their gross NPA ratio declined to 3.47 per cent in March 2024 – from 4.97 per cent in 2015 and from a peak of 14.58 per cent in March 2018. 

  • Uniform Civil Code cannot be pressured on folks via agenda-driven majoritarian executive: Chidambaram

    The previous Union minister claimed the high minister used to be batting for UCC to divert folks's consideration from problems with unemployment, value upward thrust and hate crimes.

    NEW DELHI: An afternoon after Top Minister Narendra Modi made a powerful pitch for a Uniform Civil Code (UCC), Congress chief P Chidambaram stated it can’t be pressured on folks via an “agenda-driven majoritarian govt” as it is going to “widen divisions” amongst folks.

    The previous Union minister claimed the high minister used to be batting for UCC to divert folks’s consideration from problems with unemployment, value upward thrust and hate crimes. He additionally alleged the BJP used to be the usage of UCC to polarise the society.

    “The Hon’ble PM is making it seem that UCC is a straightforward workout. He must learn the file of the final Regulation Fee that identified it used to be no longer possible at the moment. The country is split nowadays owing to the phrases and deeds of the BJP. A UCC imposed at the folks will simplest widen the divisions,” Chidambaram stated.

    Noting {that a} Uniform Civil Code is an aspiration, the senior Congress chief stated, “It can’t be pressured at the folks via an agenda-driven majoritarian govt.”

    “The Hon’ble PM’s robust pitch for UCC is meant to divert consideration from inflation, unemployment, hate crimes, discrimination and denying states’ rights. The folk should be vigilant,” he stated on Twitter.

    The Hon’ble PM has equated a Country to a Circle of relatives whilst pitching for the Uniform Civil Code (UCC)

    Whilst in an summary sense his comparability might seem true, the truth may be very other

    A circle of relatives is knit in combination via blood relationships. A country is introduced in combination via a…

    — P. Chidambaram (@PChidambaram_IN) June 28, 2023

    Chidambaram alleged that having failed in just right governance, the BJP used to be deploying the UCC to polarise the citizens and try to win the following elections.

    “The PM has equated a country to a circle of relatives whilst pitching for UCC. Whilst in an summary sense, his comparability might seem true, the truth may be very other. A circle of relatives is knit in combination via blood relationships. A country is introduced in combination via a Charter which is a political-legal record.”

    “Even in a circle of relatives, there may be variety. The Charter of India recognised variety and plurality a number of the folks of India,” he stated within the tweet.

    Top Minister Narendra Modi on Tuesday made a powerful push for a Uniform Civil Code(UCC), asking how can the rustic serve as with twin rules that govern non-public issues, and accused the Opposition of the usage of the UCC factor to “misinform and galvanize” the Muslim neighborhood.

    The UCC has been probably the most 3 key ballot planks of the BJP for a very long time with the opposite being the abrogation of Article 370 which had given particular standing to Jammu and Kashmir and the development of the Ram Mandir in Ayodhya.

    UCC refers to a commonplace set of rules which might be appropriate to the entire electorate of India that isn’t in keeping with faith and coping with marriage, divorce, inheritance and adoption amongst different non-public issues.

    The Regulation Fee had on June 14 initiated a contemporary session procedure on UCC via in the hunt for perspectives from stakeholders, together with public and recognised non secular organisations, at the politically delicate factor.

  • Is Modi executive so feeble to be toppled via 92-year-old’s remark: Chidambaram on Soros

    Through PTI

    NEW DELHI: Senior Congress chief P Chidambaram on Saturday stated labelling remarks via George Soros as an ‘try to topple the democratically elected executive in India’ used to be a puerile remark.

    He puzzled if the Modi executive used to be “so feeble” that it may be toppled via a stray remark of a 92-year-old wealthy overseas nationwide.

    Chidambaram’s remark got here after the BJP reacted angrily to remarks made via Soros on High Minister Narendra Modi on the Munich Safety convention, alleging that Soros used to be concentrated on the Indian democratic gadget in order that folks “hand-picked” via him get to run the federal government right here.

    “The folk of India will decide who shall be in and who shall be out of the federal government of India. I didn’t know that the Modi executive used to be so feeble that it may be toppled via the stray remark of a 92-year-old wealthy overseas nationwide,” Chidambaram stated in a chain of tweets.

    He additionally alleged that the Modi executive’s insurance policies have created oligopolies as a substitute of ushering in pageant.

    “I didn’t consider maximum of what George Soros had stated up to now and I don’t consider maximum of what he says now. However to label his remarks as an ‘try to topple the democratically elected executive in India’ is a puerile remark,” Chidambaram famous.

    The folk of India will decide who shall be in and who shall be out of the federal government of India

    I didn’t know that the Modi executive used to be so feeble that it may be toppled via the stray remark of a 92 12 months outdated wealthy overseas nationwide

    — P. Chidambaram (@PChidambaram_IN) February 18, 2023

    “Forget about George Soros and pay attention to Nouriel Roubini. Roubini warned that India is ‘an increasing number of pushed via massive personal conglomerates that may probably bog down pageant and kill new entrants’,” he stated.

    The previous finance minister stated Liberalisation used to be to herald an open, aggressive financial system. “The Modi executive’s insurance policies have created oligopolies,” he stated.

    In his remarks, Soros had stated the turmoil engulfing industrialist Gautam Adani’s industry empire might open the door to a democratic revival in India.

    The Congress on Friday stated whether or not the Adani factor will spark a democratic revival within the nation relies solely at the grand outdated birthday celebration and different opposition events and has not anything to do with billionaire investor George Soros.

    NEW DELHI: Senior Congress chief P Chidambaram on Saturday stated labelling remarks via George Soros as an ‘try to topple the democratically elected executive in India’ used to be a puerile remark.

    He puzzled if the Modi executive used to be “so feeble” that it may be toppled via a stray remark of a 92-year-old wealthy overseas nationwide.

    Chidambaram’s remark got here after the BJP reacted angrily to remarks made via Soros on High Minister Narendra Modi on the Munich Safety convention, alleging that Soros used to be concentrated on the Indian democratic gadget in order that folks “hand-picked” via him get to run the federal government right here.

    “The folk of India will decide who shall be in and who shall be out of the federal government of India. I didn’t know that the Modi executive used to be so feeble that it may be toppled via the stray remark of a 92-year-old wealthy overseas nationwide,” Chidambaram stated in a chain of tweets.

    He additionally alleged that the Modi executive’s insurance policies have created oligopolies as a substitute of ushering in pageant.

    “I didn’t consider maximum of what George Soros had stated up to now and I don’t consider maximum of what he says now. However to label his remarks as an ‘try to topple the democratically elected executive in India’ is a puerile remark,” Chidambaram famous.

    The folk of India will decide who shall be in and who shall be out of the federal government of India
    I didn’t know that the Modi executive used to be so feeble that it may be toppled via the stray remark of a 92 12 months outdated wealthy overseas nationwide
    — P. Chidambaram (@PChidambaram_IN) February 18, 2023
    “Forget about George Soros and pay attention to Nouriel Roubini. Roubini warned that India is ‘an increasing number of pushed via massive personal conglomerates that may probably bog down pageant and kill new entrants’,” he stated.

    The previous finance minister stated Liberalisation used to be to herald an open, aggressive financial system. “The Modi executive’s insurance policies have created oligopolies,” he stated.

    In his remarks, Soros had stated the turmoil engulfing industrialist Gautam Adani’s industry empire might open the door to a democratic revival in India.

    The Congress on Friday stated whether or not the Adani factor will spark a democratic revival within the nation relies solely at the grand outdated birthday celebration and different opposition events and has not anything to do with billionaire investor George Soros.

  • Executive dishonest farmers, MSP hike lower than even inflation price: Congress

    By way of PTI

    NEW DELHI: The Congress on Saturday accused the Modi executive of dishonest farmers and stated the Minimal Make stronger Value (MSP) for rabi vegetation introduced by way of it’s even lesser than the speed of inflation.

    Congress common secretary Randeep Surjewala stated even because the BJP dispensation is patting its again for MSPs, it has in truth “duped the farmers” and claimed that their laborious labour has were given misplaced within the lighting fixtures of Diwali.

    “The Modi executive has as soon as once more cheated the farmers at the MSPs. The MSP of Annadata farmers’ laborious paintings were given misplaced once more within the lighting fixtures of Diwali. The Modi executive patted its again by way of saying the MSP of rabi vegetation, however duped the farmer and left them to shed tears of blood,” he stated in a sequence of tweets in Hindi.

    Calling out the BJP for what it referred to as as “fraud with farmers”, he stated the sour fact is that the Modi executive simplest publicizes MSP however does now not purchase vegetation at the MSP and demanded that the MSP regulation granting felony standing to MSP is urgently required.

    “BJP’s ‘Shakuni Chausar’ has made the farmer’s existence tough. No Price+50 p.c, no honest value nor sufficient purchasing. Nor is the regulation on MSP being made. Modi ji promised in 2014 that he’s going to give price plus 50 according to cent to farmers. Price+50 according to cent is a ways away, the declared MSP is lower than the MSP demanded by way of the BJP governments themselves,” he claimed, alleging betrayal with the annadata.

    ALSO READ | Modi executive paperwork panel to make ‘more practical and clear’ MSP

    The Rajya Sabha MP stated leaders can say rhetoric, however statistics do not lie, claiming that the Congress-UPA executive larger the MSP by way of 205 according to cent whilst within the ultimate 8 years of the Modi executive, the rise in MSP is simplest 40 according to cent. “The MSP declared by way of the Modi executive is even lower than the inflation price of the rustic. Inflation larger extra and the MSP used to be much less. “Countrymen, please assume and talk in regards to the 70 crore farmers and farm labourers of the rustic for 2 mins on Diwali. Consider the toiling farmer-labourer, on account of whom you devour despite the fact that he destroys himself. Glad Diwali everybody. Jai Jawan,” he stated.

    The central executive previous this week raised the MSP of six rabi vegetation by way of as much as 9 according to cent, with Rs 110 according to quintal building up for wheat crop to spice up home manufacturing and farmers’ source of revenue. Wheat MSP has been raised by way of 5.45 according to cent to Rs 2,125 according to quintal from Rs 2,015 according to quintal to inspire extra space beneath the crop amid tight executive inventory place owing to low procurement, fall in manufacturing and better exports.

    NEW DELHI: The Congress on Saturday accused the Modi executive of dishonest farmers and stated the Minimal Make stronger Value (MSP) for rabi vegetation introduced by way of it’s even lesser than the speed of inflation.

    Congress common secretary Randeep Surjewala stated even because the BJP dispensation is patting its again for MSPs, it has in truth “duped the farmers” and claimed that their laborious labour has were given misplaced within the lighting fixtures of Diwali.

    “The Modi executive has as soon as once more cheated the farmers at the MSPs. The MSP of Annadata farmers’ laborious paintings were given misplaced once more within the lighting fixtures of Diwali. The Modi executive patted its again by way of saying the MSP of rabi vegetation, however duped the farmer and left them to shed tears of blood,” he stated in a sequence of tweets in Hindi.

    Calling out the BJP for what it referred to as as “fraud with farmers”, he stated the sour fact is that the Modi executive simplest publicizes MSP however does now not purchase vegetation at the MSP and demanded that the MSP regulation granting felony standing to MSP is urgently required.

    “BJP’s ‘Shakuni Chausar’ has made the farmer’s existence tough. No Price+50 p.c, no honest value nor sufficient purchasing. Nor is the regulation on MSP being made. Modi ji promised in 2014 that he’s going to give price plus 50 according to cent to farmers. Price+50 according to cent is a ways away, the declared MSP is lower than the MSP demanded by way of the BJP governments themselves,” he claimed, alleging betrayal with the annadata.

    ALSO READ | Modi executive paperwork panel to make ‘more practical and clear’ MSP

    The Rajya Sabha MP stated leaders can say rhetoric, however statistics do not lie, claiming that the Congress-UPA executive larger the MSP by way of 205 according to cent whilst within the ultimate 8 years of the Modi executive, the rise in MSP is simplest 40 according to cent. “The MSP declared by way of the Modi executive is even lower than the inflation price of the rustic. Inflation larger extra and the MSP used to be much less. “Countrymen, please assume and talk in regards to the 70 crore farmers and farm labourers of the rustic for 2 mins on Diwali. Consider the toiling farmer-labourer, on account of whom you devour despite the fact that he destroys himself. Glad Diwali everybody. Jai Jawan,” he stated.

    The central executive previous this week raised the MSP of six rabi vegetation by way of as much as 9 according to cent, with Rs 110 according to quintal building up for wheat crop to spice up home manufacturing and farmers’ source of revenue. Wheat MSP has been raised by way of 5.45 according to cent to Rs 2,125 according to quintal from Rs 2,015 according to quintal to inspire extra space beneath the crop amid tight executive inventory place owing to low procurement, fall in manufacturing and better exports.