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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.

National News

Vijay announces 200 units of free electricity after taking oath as Tamil Nadu Chief Minister

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Chennai, May 10: Tamil Nadu Chief Minister C. Joseph Vijay on Sunday announced 200 units of free electricity and the formation of the “SingaPen” Special Task Force as among the first major decisions of his government shortly after taking the oath.

Soon after the swearing-in ceremony at the Jawaharlal Nehru Indoor Stadium here, Vijay signed key official files in the presence of senior officials and ministers, signalling the beginning of the Tamilaga Vettri Kazhagam (TVK) government’s welfare and governance agenda.

Vijay was sworn in as the Chief Minister by Governor Rajendra Vishwanath Arlekar amid loud cheers from thousands of party workers, supporters and film fans gathered at the venue. He took the oaths of office and secrecy in the name of C. Joseph Vijay.

The TVK chief assumed office after his party emerged as the single largest formation in the recently concluded Tamil Nadu Assembly elections by winning 108 seats in the 234-member House. Though the party fell short of the majority mark of 118, the Congress extended support to it.

The Communist Party of India (CPI), the Communist Party of India-Marxist, the Viduthalai Chiruthaigal Katchi (VCK), and the Indian Union Muslim League (IUML) also backed the coalition, taking its strength to 120 MLAs.

The swearing-in ceremony witnessed elaborate security arrangements, with only around 6,000 invitees allowed inside the stadium through special passes. Chennai Police deployed massive security arrangements under the supervision of the Police Commissioner, with five Additional Commissioners and 12 Joint Commissioners overseeing arrangements.

Several prominent political leaders and film personalities attended the event, including Leader of Opposition in the Lok Sabha Rahul Gandhi, alliance leaders, Vijay’s parents, relatives, friends, and notables from the Tamil film industry.

Along with Vijay, N. Anand, Aadhav Arjuna, Dr K.G. Arunraj, K.A. Sengottaiyan, P. Venkataramanan, R. Nirmalkumar, Rajmohan, Dr T.K. Prabhu, and S. Keerthan were sworn in as ministers in the new cabinet. The ceremony marked a historic political moment in Tamil Nadu, ending decades of dominance by the state’s traditional Dravidian parties and ushering in a new political era under Vijay’s leadership.

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National News

Woman cop goes undercover at Hyderabad bus stand at night, 40 men approached her

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In a late-night undercover operation aimed at assessing women’s safety on the streets, Malkajgiri Commissioner of Police V Sumathi, posed as a regular commuter at a bus stop in Dilsukhnagar between 12.30 am and 3.30 am.

According to police sources, the Indian Police Service (IPS) officer remained alone at the location to observe ground conditions faced by women travelling during late hours.

What followed painted a troubling reality. During the three-hour operation, nearly 40 men allegedly approached her. Several of them were suspected to be under the influence of alcohol or ganja, officials said. The group included young men, some identified as students and private employees.

Plainclothes police teams, already stationed nearby as part of the operation, intervened and detained individuals found behaving in a suspicious or inappropriate manner. Police said action was taken against those who were allegedly involved in harassment or causing disturbance around the bus stop.

The initiative was reportedly conducted to evaluate night patrolling effectiveness, identify vulnerable public spaces, and examine the risks faced by women commuting alone during late hours.

In a parallel account of the operation, it was stated that the commissioner was approached by multiple individuals within minutes of her arrival, following which enforcement teams moved in and detained those suspected of misconduct. Police also carried out counselling sessions as part of a broader women’s safety awareness drive.

Further official details regarding the identities and legal status of those detained are awaited from the police department.

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International News

Operation Sindoor: Pakistan’s fake victory spectacle couldn’t hide crisis within terror groups

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New Delhi, May 8: For Pakistan, ‘Operation Sindoor’ resulted in a loss of face. After terror infrastructure was hit hard by the Indian armed forces who were avenging the Pahalgam terror attack, Pakistan set out a fake narrative of emerging victorious.

Rallies and processions were taken out to create an impression that the Pakistan Army had hit back and won the battle. While the perception was created, the reality was something different.

An official said that events were strategically planned across Pakistan to commemorate fake victory. On the other hand, social media handles run by Pakistanis worked overtime to put out false narratives.

Following the conclusion of ‘Operation Sindoor’, Pakistan’s Army chief instructed the Shehbaz Sharif government to release Rs 500 crore. This money was then distributed evenly to federal governments, business and religious groups. All were asked to organise massive rallies across Pakistan. The programme mandate by the Pakistan Army was titled ‘Ashra-e-Tashakur Fateh-E-Muneeb,’ which means ten days of gratitude for a decisive victory.

To cement the fake claim further, Asim Munir even pressured the Sharif government to make him Field Marshal.

An Intelligence Bureau official said that while these rallies took place on a grand scale for ten days, something more serious was brewing within. Some of the rallies even focussed on thanking the Jaish-e-Mohammad and Lashkar-e-Tayiba for the so-called victory.

However, within the ranks of these two terror groups something serious was simmering. Both Hafiz Saeed and Masood Azhar had started to question the Pakistan Army and the ISI. They wanted to know what happened to the guarantees and protection that they had been assured. These groups have been operating with ease only due to the funds and protection that the Army and the ISI offer them.

During ‘Operation Sindoor’, the Jaish-e-Mohammad lost its Bahawalpur headquarters. Its chief Masood Azhar even lost most of his family members and several other cadres. The Muridke camp, which is the Lashkar-e-Tayiba’s primary training facility was blown to pieces during the Indian operation.

Both these terror groups, which have wrecked havoc in India, had not witnessed such a huge hit. There have been encounters and terrorists have been killed on Indian soil. However never have they been struck so hard and that, too, deep inside Pakistan.

Another official said that the impression that the Pakistan establishment sought to create in the aftermath of the operation worked among a few people, but clearly their proxies were not impressed. They knew what they had lost and the fact that the Army could not even defend them is what left them completely disgruntled. The official also said that many cadres, too, had started questioning their own leadership.

Officials say that all these factors led to rifts within these two terror groups and this explains why they are taking so long to rebuild.

During the numerous processions, the Army insisted that the cadres of the Lashkar-e-Tayiba and Jaish-e-Mohammad should take part. Many of them did, but in their minds, they knew what the reality was. In this desperation to show that Pakistan was victorious, the Army ended up showcasing to the world that globally banned terror groups such as the Jaish-e-Mohammad and Lashkar-e-Tayiba are welcome within the ecosystem of the establishment, the official added.

Pakistan watchers point out that it was nothing but desperation on part of the Army. It had to indulge in this circus and claim a false victory. In reality, the Pakistan Army and its chief were the hardest hit thanks to ‘Operation Sindoor’, the experts also point out.

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