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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

Tripura: Police Seize 44 Kg Of Drugs Worth Rs 2.52 Lakh At Agartala Railway Station

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Agartala (Tripura): Agartala Government Railway (GRP) Police seized 44 kg of drugs worth Rs 2.52 lakhs at Agartala Railway Station, railway police said on Tuesday.

About The Seizure

Acting on a tip-off, police on Tuesday conducted a search near the 13th rail track on the Agartala to Jirania route, near Agartala Railway Station. During the operation, authorities recovered 44 kg of dried cannabis from bushes alongside the tracks. The narcotics were allegedly being smuggled out of the state via train.

According to the police, the seized cannabis has an estimated market value of approximately Rs 2.52 lakhs. The Agartala GRP (Government Railway Police) station has launched an investigation to identify the individuals responsible for this illegal consignment. Further action will be taken based on the findings of the investigation.

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National News

Atishi Likely To Address First House Session As Delhi Chief Minister On September 26 And 27

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Delhi: Aam Admi Party leader and the successor of Arvind Kejriwal as the Chief Minister of Delhi, Atishi Marlena Singh, will likely address her first session as the head of the Delhi assembly next Thursday, September 26. The Delhi government has announced a two-day special session on September 26 and 27, as reported by party officials.

Atishi Takes Over After Kejriwal As Delhi CM

The choice to convene a special session aligns with Arvind Kejriwal stepping down as the chief minister and CM-designate Atishi asserting her right to govern. A senior party member mentioned that the meeting’s agenda is still undecided.

When Will Atishi Take Oath As Delhi’s New CM?

Atishi Marlena, the newly appointed Chief Minister of Delhi, has not yet been sworn in. Although the dates haven’t officially been announced yet, as per a few reports, the oath-taking ceremony is scheduled to occur before the Delhi Assembly session. The Speaker’s Office has announced that the Delhi Assembly session is scheduled for September 26 and 27.

Atishi To Address House

Atishi is scheduled to address the house on the challenges confronting Delhi and to assure the path forward. The member stated that it is uncertain if the oath-taking ceremony will be finished by then, as it will rely on the dates given by LG VK Saxena after approval from the President.

SK Sharma, a constitutional expert and a former secretary to the Lok Sabha and the Delhi assembly, said, “The power to appoint minister and chief minister is with the President. The head of legislative group has laid stake to power. Since AAP has brute majority, there should be no hurdle.”

“A date for oath-taking ceremony needs to be fixed, which is at the discretion of the President and LG.” Sharma said.

“Atishi will be speaking at the house on issues being faced by Delhi and the way ahead. It is not yet clear whether the oath-taking ceremony would be complete by then, as it will depend on the dates provided by LG VK Saxena after concurrence from the President,”

Assembly Sessions

Throughout the course of a year, there are typically three significant assembly sessions conducted, namely the budget session, monsoon session, and winter session. However, there have been occasions where the legislative assembly has convened more than three sessions to address the urgent matters presented by the government. There must also not be a gap longer than six months between two sessions.

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Aligarh Police Sub-Inspector Sits On Railway Tracks To End Life After Alleged Harassment By Judge, Saved by Cops

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Vigilant police officers saved Sub-Inspector Sachin Kumar’s life as he attempted suicide by sitting on railway tracks in Uttar Pradesh’s Aligarh, allegedly due to harassment by Judge Abhishek Tripathi. Judge Tripathi has yet to respond to the allegations.

A video of the incident has surfaced on social media, showing several policemen approaching Kumar while he was sitting on the tracks. They are seen lifting him up and reassuring him, with one officer saying, “What happened? It’s okay. Stand up.” Kumar responded, “No sir, I don’t want to listen to anything.”

In the video, Kumar explains that the judge had repeatedly summoned him to his chamber, verbally abused him, and threatened him. Despite this, his colleagues managed to persuade him to leave the tracks.

According to reports, Kumar had recently arrested five individuals for bike theft and presented them in court. However, Judge Tripathi accused him of detaining innocent people and misbehaving. Distressed by these accusations, Kumar attempted to take his own life.

The police are investigating the incident to clarify the circumstances and address the concerns raised.

4 dead, 6 injured in explosion at firecracker factory in Firozabad

Meanwhile, in a separate incident, four people have died and six people who were injured are undergoing treatment after an explosion occurred at a firecracker factory in Firozabad’s Naushera on Tuesday, said senior police official on Tuesday.

The House has collapsed due to the explosion and several people are feared to be trapped under rubble, said police.

“In Shikohabad PS area, firecrackers were stored at a house and a blast occurred there. Due to the impact of the blast, the roof of a nearby house collapsed. Police took out 10 people from the debris…6 people are undergoing treatment at a hospital and 4 people have died…further rescue operation is still underway,”

Meanwhile, Firozabad District Magistrate Ramesh Ranjan said that the rescue operations are underway.

“Rescue team is present at the spot. District hospital and sub-district hospital, both are on high alert…team of doctors, ambulance, fire team, disaster team, all are present at the spot,” Firozabad District Magistrate Ramesh Ranjan said.

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