In an open letter addressed to Prime Minister, Mr P Chidambaram, former finance minister in the erstwhile UPA government has taken pot shots at Modiji for his ‘alleged’ failure to create jobs. He laments that during 2014-15, jobs were generated at a measly rate of 100,000 per quarter which works out to 400,000 in the whole year. Mr Chidambaram’s observation is reminiscent of a phrase coined by ex-Prime Minister, Dr Manmohan Singh “money does not grow on tree”. Dr Singh was alluding to efforts-led creation of wealth even as right under his nose, people witnessed a contrasting spectre of huge amount of national wealth being plundered and given to close contacts/favourites of political bosses in the grand old party. However,...
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Category: Infrastructure
E-tailers vs retailers – ‘level off’ playing field
Mr Kishore Biyani of Future Group has alleged discrimination against brick-and-mortar players in FDI (foreign direct investment) policy vis-a-vis e-commerce companies in the retail space. Meanwhile, seeing threat from near explosion in e-commerce transactions, the Retailers Association of India (RAI) [besides Future Group, it includes Reliance Retail, Bharti Retail etc] had petitioned the government seeking a level playing field. It also approached Delhi High Court (DHC) who directed that let government deal with it first and if problem persists, it will hear their plea after 4 months. So what is the concern flagged by brick-and-mortar players? How does the discrimination arise? Are mom-and-pop stores also feeling the heat from e-commerce onslaught? What is the stance of government on FDI? What...
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Modi delivers ‘scam-free’ India
On May 26, 2015, Modi – government completes one year in office. Naturally, it is time to review and reflect on the pluses and minuses; on what it did and what it did not. But for die hard critics, those wearing coloured glasses and determined to see only negatives, all others viewing happenings from an objective and un-biased mindset will only be able to see positives as this is all that the present dispensation – led by a charismatic leader Modiji – has put on the plate of 1.25 billion people of India. Poor catapulted to center stage For the common man, the poor and the poorest among them, there is a lot to feel relieved and rejoice as the...
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Modi’s land bill won’t squeeze agriculture
Ever since the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act (RFCTLARRA) or in short Land Acquisition Act (LAA) 2013 – passed by then UPA dispensation – came in to force from January 1, 2014 not even 100 acres of land has been acquired all over the country. Indeed, in mid-2014 majority of chief ministers (CMs) including from Congress ruled states had during consultations initiated by Modi – government emphatically stated that it was impossible to acquire land under LAA (2013) and that this was becoming a major stumbling block in the way of development. Sensing the mood and in the true spirit of cooperative federalism – inculcated by hon’ble prime minister in every aspect...
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Who is pro-corporate and anti-poor?
In a rare intervention during discussion in Indian parliament (Lok Sabha/lower house) on “Agrarian crisis in India” on April 20, 2015, Rahul Gandhi, scion of Gandhi family and Vice-President, Congress (likely to be anointed as President soon) taunted Modi – dispensation as “Suit-boot ki Sarkar”. Addressing a Kisan (farmer) rally on the previous day i.e. April 19, 2015, he had hurled another diatribe viz., “Modi took thousands of crores from industrialists/businessmen for funding his election campaign during 2013/2014 and will now be snatching away land from farmers to repay that debt”. When seen in conjunction, the two statements tantamount to a very serious insinuation that government led by him works only to promote interests of industrialists/businessmen and shows no concern...
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Tax terrorism or tax heaven – say ‘NO’ to both
In recent times, foreign investors have viewed every action of tax authorities in India with suspicion. They have reacted to tax demand for past years with vengeance and in most cases, dragged the latter to court. In several cases, they even avoid Indian jurisdiction (for fear of losing the case) and have gone for international arbitration invoking bilateral investment protection agreements (BIPAs). On a parallel track, they run high voltage media publicity which is even pushed to a point of branding India as an un-attractive investment destination and actions of I-T as ‘tax terrorism’. And, since we need foreign investment for development and building infrastructure, they get additional fuel in their armoury to intensify attack on the government. True, in...
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Land acquisition held hostage to political opportunism
On March 18, 2015, the whole country witnessed an unusual spectacle of a united opposition in the parliament – led by Congress President, Ms Sonia Gandhi – marching on Raisina Hills towards President’s House. The parliamentarians were going to register their protest with the President, Mr Pranab Mukherjee against the amendments to the ‘Right to Fair Compensation and Transparency in Acquisition, Rehabilitation and Resettlement Act’ (herein after referred as Land Acquisition Act, 2013) being made by Modi – government which they allege is “pro-corporate” and “anti-farmer”. This is a serious charge against Modi who was voted to power last year with an absolute majority on the strength of his unflinching commitment to 125 crores people of this country – including...
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Modi’s dream budget – 2015/16
Borrowing from cricket terminology, media is agog with description of Modi – government first full-fledged budget 2015-16 as a ‘super-budget’. There could not be a more apt description. Finance minister Jaitely has delivered wholeheartedly on the hopes and aspiration of 1.25 billion people of India who only 9 months ago had given Team Modi a resounding mandate to govern and extricate them from the deep economic morass they were plunged in to, courtesy a decade of mis-management and policy paralysis. People gave command to Team Modi on five major planks viz., (i) inclusive development; (ii) building infrastructure; (iii) social safety net (iv) poverty alleviation and (v) countenancing the menace of corruption. On all these counts, the team has delivered without...
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Land acquisition ordinance is pro-farmer
The entire opposition is up in arms against the Land Acquisition ordinance promulgated by Modi – government in December, 2014 which the latter is now seeking to replace by a legislative enactment. The opposition is lambasting Modi for making amendments to the Act passed by the erstwhile UPA dispensation in 2013 which they allege, are pro-industry/business and anti-farmer. The allegations are without any valid basis. These are political statements aimed primarily at embarrassing a government which is committed to inclusive development. Modi’s agenda aims at increasing employment and income to improve lot of poor including farmers. The amendments to 2013 Act are guided by this over-arching objective. Yet, why does opposition think otherwise? The 2013 Act required prior consent of 70%...
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Unclogging land acquisition – Modi way
The erstwhile UPA regime had piloted much trumpeted amendment to Land Acquisition Act – Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act (RFCTLARRA) which came in to vogue from January 1, 2014. Bandied as a revolutionary reform, the Act promised handsome reward to landowners/farmers and speed up the process of acquiring land for building infrastructure and spurring development. However, on a close scrutiny of its provisions, one notices that the outcome would have been just the opposite. A key provision stipulates that the landowner will be compensated @ of 4 times prevailing market price in rural areas and 2 times prevailing market price in urban areas. This sounds attractive and seeks to put an end...
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