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P. Chidambaram poses 20 tough questions on Rs 6 lakh Cr NMP

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P-Chidambaram

Senior Congress leader and former Union Finance Minister P. Chidambaram on Friday posed 20 questions on the Centre’s proposed National Monetization Pipeline (NMP) intended to ‘monetise’ certain assets and earn Rs 6,00,000 crore revenue over the next four years.

Stating that the government should answer the questions, he demanded to know the NMP objectives and whether it was solely intended to raise the revenues over the next four years.

Referring to the criteria adopted upfront to identify the PSUs that would be disinvested or privatised during the previous UPA government, Chidambaram queried whether the same is the case with the current NDA regime.

Pointing out that for infra projects like roads/highways, a PPP policy already exists, he asked what is the difference, if any, between this (PPP) model and the one that would be adopted by the Centre under the NMP, while addressing the media in the country’s commercial capital.

Moreover, if an asset is ‘monetised’ for 30-50 years, what is the value of the piece of paper that declares the government to be the ‘owner’ of that asset, what kind of asset will be returned to the government at the end of the period or would it be a “fully depreciated asset” worth practically nothing.

“Since the NMP is silent on the subject, will the government stipulate in the contract that the amount of depreciation should be put in a Depreciation Reserve Account which was used only to maintain, upgrade or add to the asset so that at the end of the lease period a valuable asset is returned to the government,” Chidambaram asked.

He also sought answers on whether there will be provision in the contract to prevent asset-stripping by the lessee, the terms included in the Invitation to Bid (ITB) to ensure that the ‘monetisation’ process does not create monopolies or duopolies in that sector, especially to prevent such (monopolies/duopolies) emerging in the ports, airports, telecom and power sectors.

The finance expert queried whether the lessee will manage the current levels of employment and the policy of reservations, or other policies, subject to sectoral regulators, etc., in the ‘monetised’ asset.

Harking to the UPA which identified the Railways as a ‘strategic sector’, he asked what are the other sectors the Centre has identified as ‘core’ or ‘strategic’ that would be kept out of the NMP purview.

“Has the government examined the impact of implementation of the NMP on the prices of goods and services in the sector/industry concerned? What will the government or the regulator do in case prices are increased by the lessee of the ‘monetized’ asset,” Chidambaram demanded.

Referring to the government’s revelation of the expected revenue of Rs 6,00,000 crore in four years, he asked whether the government would shed light on the total capital investment in the identified assets that are expected to yield the aforesaid revenue.

“The identified assets must be currently yielding a certain revenue every year. Has the government calculated the difference between the current revenue (undisclosed) and the expected revenue (of Rs 6,00,000 crore) over a period of four years? If so, what is the difference between the two amounts each year during the four year period,” Chidambaram asked.

On the government’s announcement that the NMP would be co-terminus with the National Infrastructure Pipeline (NIP) that is expected to require Rs 100 lakh crore, the ex-FM sought to know how the Rs 6,00,000 crore over a four year period be sufficient to finance a Rs 100 lakh crore NIP.

Furthermore, he sought an assurance from the Centre that the expected sum of Rs 6,00,000 crore “would not be merged with general revenues or used for general expenditure”.

Chidambaram further posed if the Rs 6,00,000 crore, when released, would not be diverted to partly-finance the fiscal deficit (Rs 5,50,000-crore in 2021-2022) or retiring old debts.

The Congress leader asked if the government floated a consultation paper on NMP, consulted various stakeholders including the workers or trade unions and demanded to know the outcome/minutes of these consultations.

He also asked whether the NMP was discussed in Parliament, and if not, whether the Centre plans to consult the Opposition Parties or debate in parliament.

Chidambaram said that the US is contemplating measures to contain monopolization and unfair trade practices of giants like Google, Amazon and Facebook, China has announced plans to rein in its giant tech firms and South Korea contained the influence of its huge family-controlled business conglomerates.

“Does the government intend to introduce similar measures while implementing the NMP,” Chidambaram asked, saying the Centre “is obliged to answer these questions”, and the media must demand replies from the government.

Crime

Woman tourist harassment case: Two Kerala cops suspended, two taxi drivers arrested (Lead)

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Thiruvananthapuram, Nov 3: In a swift action following the viral video of a woman tourist being harassed by local taxi drivers in Munnar, the Kerala Police, on Monday, have suspended two officials and taken two taxi drivers — identified as Vinayakan and Vijayakumar — into custody.

The case has sparked widespread outrage on social media, prompting the state government to promise corrective steps to ensure tourist safety in the hill station.

The video, originally posted by Janvi, a Mumbai-based assistant professor, showed a group of taxi drivers confronting and intimidating her and her friends for booking an online cab instead of a local taxi near the KSRTC bus stand in Munnar on October 30.

The drivers, reportedly opposed to app-based taxi services, allegedly warned the tourists that they would not be allowed to travel unless they hired local taxis.

Janvi alleged that when she approached the police for help, officers failed to act, echoing the stance of the taxi union.

“We were forced to take another vehicle and eventually cut short our trip out of fear,” she said in the video, which has since been deleted but had already gone viral.

Following the public outcry, the Munnar police registered a suo motu case under Sections 126(2), 351(2), and 3(5) of the Bharatiya Nyaya Sanhita, relating to wrongful restraint and criminal intimidation.

The FIR did not initially name any accused, but police have since identified three taxi drivers, two of whom are in custody, with the third expected to be taken into custody soon.

State Tourism Minister P.A. Mohammed Riyas called the incident “unfortunate” and said it “should never have happened,” adding that steps will be taken to strengthen police vigilance and prevent the harassment of tourists in the future.

The incident has reignited debate over the monopoly of local taxi unions in tourist destinations and the challenges faced by app-based cab services in Kerala.

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Entertainment

Kartik Aaryan-starrer ‘Tu Meri Main Tera, Main Tera Tu Meri’ hops on December 25 release after ‘Alpha’ moves to April

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Mumbai, Nov 3: Bollywood is a place where timing is of essence. Be it the box-office clashes or their aversion, timing plays a huge role in how things play out on the ticket windows.

The Kartik Aaryan-starrer ‘Tu Meri Main Tera, Main Tera Tu Meri’, which was earlier scheduled to close the entertainment year on December 31, 2025, now has a new release date. The film is set to arrive in cinemas on December 25, 2025.

Over the past few years, Kartik Aaryan has emerged as one of the most bankable stars in the country, consistently delivering hits across genres. Whether it’s a mass entertainer, a romantic drama, the actor’s name alone now commands strong box office openings. His relatability, charm, and growing stardom have positioned him as the face of the new-age commercial cinema, someone who bridges the gap between youth appeal and family audiences.

However, the true star power also lies in being smart with the release of the films. The change in the release date of the film comes shortly after Alia Bhatt-starrer ‘Alpha’ vacated December 25, and shifted to April 17, 2026. Kartik, and the makers made a quick decision to consolidate the closing week of 2025 at the box-office.

With Tu Meri Main Tera, Main Tera Tu Meri, Kartik seems to have found his festive rhythm from lighting up Diwali with laughter and emotion in Bhool Bhulaiyaa 3 to now taking over Christmas with love and melody. Well, the excitement is sky rocketing amongst the audience and business.

The film also marks the reunion of Kartik Aaryan and Ananya Panday, who are all set to recreate their sizzling on-screen chemistry after years. They were earlier seen together in ‘Pati Patni Aur Woh’.

Produced by Dharma Productions and Namah Pictures, the rom-com is directed by Sameer Vidwans, with whom Kartik delivered the much-loved romantic drama ‘Satyaprem Ki Katha’.

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Business

Indian stock markets end higher after two days of losses

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Mumbai, Nov 3: Indian equity markets ended a volatile session on a positive note on Monday, snapping a two-day losing streak.

Gains in real estate and state-owned bank stocks helped lift the indices despite early weakness.

After opening lower, the Sensex recovered to touch an intra-day high of 84,127 before closing 39.78 points, or 0.05 per cent, higher at 83,978.49.

The Nifty also gained 41.25 points, or 0.16 per cent, to end at 25,763.35.

“The Nifty oscillated between 25,700 and 25,800 through the day, showing resilience after briefly dipping below the October 24 low of 25,718,” analysts said.

“The zone between 25,660–25,700 once again acted as a strong demand pocket, helping the index recover intraday losses and maintain a constructive tone ahead of key global data releases,” they added.

Among the Sensex stocks, Maruti Suzuki fell over 3 per cent and was among the top losers along with Titan Company, BEL, TCS, ITC, NTPC, Bajaj Finserv, Tata Steel and tech Mahindra.

On the other hand, Mahindra & Mahindra, State Bank of India, Tata Motors Passenger Vehicles, and HCL Tech were the major gainers.

In the broader markets, the Nifty MidCap index rose 0.77 per cent, while the Nifty SmallCap index advanced 0.72 per cent, showing strength beyond the frontline stocks.

Among sectoral indices, PSU bank shares led the rally, with the Nifty PSU Bank index climbing 1.92 per cent.

Bank of Baroda surged 5 per cent, while Canara Bank, Bank of Maharashtra, Bank of India, and Indian Bank also gained.

The Nifty Metal and Realty indices also added up to 2 per cent each.

Meanwhile, the FMCG, Private Bank, and IT indices slipped up to 0.4 per cent, capping the market’s overall gains.

Analysts said that despite mixed global cues and cautious investor sentiment, buying in select sectors helped the markets end the day in the green.

“The domestic market ended on a marginal positive note as profit booking was visible at the higher levels due to the absence of fresh domestic triggers,” market watchers said.

“While the broader market outperformed since the quarterly earnings are steering investors’ preference to take a short- to medium-term view,” they mentioned.

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