Connect with us
Wednesday,16-June-2021

National News

Economy not circus lion that responds to ringmaster’s stick: P. Chidambaram

Published

on

P.-Chidambaram

Former Finance Minister P. Chidambaram on Thursday criticised the Centre for its claims on reviving the economy. He said the economy was largely determined by the market, by the laws of demand and supply, and by the purchasing power and the sentiments of the people, which are missing currently.

“Unless the government puts money in the hands of the bottom half of the families and puts food on the plates of the poor, the economy will not revive smartly,” he added.

The Congress leader said if the government doubted about what he say, then “just listen to the voices of the voters of Bihar on their existential crisis — no work or not enough work, no income or little income, and their thoughts are on surviving, not on spending.

He also said that RBI Governor, SEBI Chairman and the DEA Secretary should tell the FM, in unison, that the vast majority of the people do not have the money or the inclination to buy goods and services.

“Is it not intriguing that the RBI Governor, the SEBI Chairman and the DEA Secretary should speak on the same day on the same subject? All three have tried to ‘talk up’ the economy. I wish the economy was a circus lion that would respond to the stick of the ringmaster!” Chidambaram mocked.

The former Finance Minister was criticising the statements made by the RBI Governor and the Economic Affairs Secretary.

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that India is at the doorstep of a revival process from the ongoing pandemic.

Speaking at an event, he said that it is very important that the financial entities have adequate capital to support the growth. He noted that many of them have already raised capital while others are planning to do the same.

He said that after the pandemic is contained, the government will have to spell out a fiscal roadmap for the country.

Secretary, Economic Affairs, Tarun Bajaj on Wednesday said the Centre is open for further measures to boost the economy.

Participating at a CII event, he said that the government has received suggestions from various ministries and sectors on the needed measures.

Bajaj also said that while preparing the next Union Budget, the government would be looking at expenditure for this year and the requirements of various ministries.

National News

Pasupati Kumar Paras arrives in Patna for national executive meet, shown black flags

Published

on

Pasupati-Kumar-Paras

After the upheaval in the Lok Janshakti Party (LJP), Pasupati Kumar Paras reached Bihar capital Patna to participate in the national executive committee meeting he has called on Thursday.

A large number of Paras’s supporters assembled at the Jai Prakash Narayan airport in Patna on Wednesday with music bands at the airport as well as the LJP office in Patna.

A mild clash between Paras and Chirag supporters also took place on the street connecting the airport and the LJP office. The supporters of Chirag showed black flags to the convoy of Paras. They showed black flags at the LJP’s office as well. Following the incident, police personnel present at the place intervened.

The supporters of Chirag Paswan also chanted slogans of “Paras Murdabad” (Dead) and “Paras Go Back” at the airport as well as the LJP office in Patna.

While the supporters of Chirag Paswan painted the nameplates of Paras and Prince Raj with black colour at the LJP office on Tuesday, Paras’s supporters cleaned the black paint and also put up hoardings at the LJP office without the photograph of Chirag Paswan on Wednesday.

The infighting in the LJP arose after Paras declared himself as leader of the party in Parliament and also gave the names of 5 supporting MPs to Lok Sabha Speaker Om Birla. Following the development, Chirag, who claims to be the president of the party, sacked those 5 MPs from its primary membership.

Continue Reading

Business

IT Minister blasts Twitter, says it failed to comply with new guidelines

Published

on

Ravi-Shankar-Prasad

A day after micro-blogging platform Twitter said that it has appointed a Chief Compliance Officer, Union Electronics and IT Minister Ravi Shankar Prasad on Wednesday said that the US-based company has failed to comply to the new intermediary guidelines.

In a series of tweets, the minister came down hard on the platform over its reluctance to comply with the new norms.

“There are numerous queries arising as to whether Twitter is entitled to safe harbour provision. However, the simple fact of the matter is that Twitter has failed to comply with the Intermediary Guidelines that came into effect from the 26th of May,” Prasad said.

He also said that Twitter was given multiple opportunities to comply with the same, however it has “deliberately chosen” the path of non-compliance.

Observing that the culture of India varies like its large geography, he said in another tweet: “In certain scenarios, with the amplification of social media, even a small spark can cause a fire, especially with the menace of fake news. This was one of the objectives of bringing the Intermediary Guidelines.”

“What happened in UP was illustrative of Twitter’s arbitrariness in fighting fake news. While Twitter has been over enthusiastic about its fact checking mechanism, it’s failure to act in multiple cases like UP is perplexing & indicates its inconsistency in fighting misinformation,” he said.

Prasad said that it is astounding that Twitter which portrays itself as the flag bearer of free speech, chooses the path of deliberate defiance when it comes to the intermediary guidelines.

“Further, what is perplexing is that Twitter fails to address the grievances of users by refusing to set up process as mandated by the law of the land. Additionally, it chooses a policy of flagging manipulates media, only when it suits, its likes and dislikes,” he said.

Further, in another development, official sources have said that Twitter has lost its status as intermediary platform in India as it has not complied with new guidelines.

Continue Reading

Business

Covid put conventional methods to test, innovation came to rescue: Narendra Modi

Published

on

Narendra-Modi

Inviting investors to the country, Prime Minister Narendra Modi on Wednesday said that innovation came to the rescue during Covid as he highlighted India’s major benefits for both investors and innovators.

Delivering his keynote address at the 5th edition of VivaTech, one of the largest digital and start-up events in Europe, he said: “Covid-19 put many of our conventional methods to test. However, it was innovation that came to the rescue. By innovation, I refer to: Innovation before the pandemic. Innovation during the pandemic.”

“When I speak about innovation before the pandemic, I refer to the pre-existing advances which helped us during the pandemic. Digital technology helped us cope, connect, comfort and console. Through digital media, we could work, talk with our loved ones and help others,” he said.

Modi stated that the second part, innovation for the pandemic refers to how humanity rose to the occasion and made the fight against it more effective and in this, the role of the country’s start-up sector, has been paramount.

“India’s strides in the world of tech and start-up are well-known. Our nation is home to one of the world’s largest start-up eco systems. Several unicorns have come up in recent years,” he said.

The Prime Minister said: “India offers what innovators and investors need.I invite the world to invest in India based on the five pillars of Talent, Market, Capital, Eco-system and Culture of openness.”

Citing reforms in different sectors, he said: “We, in India, implemented huge reforms across sectors, be it mining, space, banking, atomic energy and more. This goes on to show that India as a nation is adaptable and agile, even in the middle of the pandemic.”

Stressing India’s extensive relation with France, he said: “India and France have been working closely on a wide range of subjects. Among these, technology and digital are emerging areas of cooperation.”

Continue Reading
Advertisement
Advertisement

Trending