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Amit Shah’s speech shows no concern for Indian masses

The current government cannot sustain for long if it collaborates with corporates to benefit some selected  businessmen to get funds for the elections. How will a common man trust the government which is hand in glove with the Corporates and crushes the common man for votes.

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PM Modi and Amit Shah

BJP President Amit Shah’s maiden speech in Rajya Sabha has confirmed that the Narendra Modi government has no compassion for country’s distressed farmers, jobless youth and the poor people who are being crushed by inflation and costly education etc, rather it is constantly and continuously engaged in appreciating its own policies and giving credit to Prime Minister Narendra Modi.

How Amit Shah is far from reality can be seen when he credits the Centre for handling the “crucial” Kashmir issue “very well” and said after surgical strikes the world realized that after America and Israel, India is the only country which can protect its soldiers and Army.” but the statistics shows the totally opposite scenario as protests in Kashmir were replied by pellet guns which killed and blinded people in Jammu and Kashmir and due to the faulty policies of Modi government, soldiers are not being honoured or protected as Mob in Kashmir is targeting them. It is the weakness of the leaders, civil society that a sense of alienation is pervading the strife-torn valley and the Kashmiri youth are haunted by the specter of unemployment and are being indoctrinated on to the path of violence by outside forces.

When PM Narendra Modi made a controversial statement just ahead of the Budget session that people earning Rs 200 a day by selling Pakoras could be considered as well employed. Indian Prime Minister must be aware that a single person cannot afford basic amenities with Rs 200 a day (Rs 6000 per month) as he has to buy raw material for the Paskoras, apart from his shelter and daily needs (including electricity and water bills), the person is forced to keep a cellphone with internet which is essential for the Aadhar number.

And that too the Modi government want to take the credit for that person who is just living on the edge stating that he has been given the employment.

Up-till now the previous governments were held responsible for the job creation or joblessness but with the statement of Modi and BJP President Amit Shah that selling pakodas was better than being unemployed is dangerous for India as for what purpose the people of India are voting the government for?.

Amit’s statement of”A chaiwala can become PM” is false and misleading the Indian citizens as Narendra Modi was a staunch RSS supporter and he joined RSS cadre at the age of eight and he left his family and his responsibilities.How an unmarried person living separately could understand the problems and responsibilities of the families.

Leader of Opposition in Rajya Sabha Ghulam Nabi Azad countered the claims made in Amit Shah’s speech. He said that the BJP government has only rebranded the schemes made by UPA government.

The current government must be aware that why highly educated youth will opt for low level jobs when they have the ability and capability to change the future of the nation.

The Congress has rightly slammed the government’s “wild” claims of job creation, going so far as to say that if selling ‘pakodas’ was a job, then begging should also be recognised as employment.

Modi seams to be preparing a cocktail of new models that he is taking from every country but every country needs a different model as per the resources available and the recent announcement of Modicare on the lines of Obamacare is only fanciful as the budget provision is just a meagre amount of Rs2000 crore.

Slamming the flagship schemes of the NDA government, Congress leader Ghulam Nabi Azad said that the healthcare scheme introduced in the Budget is not going to yield any results for the common man. He said that the healthcare scheme was, in essence, a health insurance scheme which would benefit insurance companies and not the common man.

The current government cannot sustain for long if it collaborates with corporates to benefit some selected  businessmen to get funds for the elections. How will a common man trust the government which is hand in glove with the Corporates and crushes the common man for votes.

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By: Arti Bali

Senior Journalist

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Who is Murari Lal Jalan, the ‘mysterious’ buyer of Jet Airways?

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Jet Airways

New Delhi: The consortium of Kalrock Capital and Murari Lal Jalan won the bid to revive Jet Airways but not much is known about how Jalan made his riches and how he plans to revive the airline.

According to a report in Marketfeed: “According to many in the business world, Murari Lal Jalan is a very mysterious man. There is not much information about how he was able to create all his wealth.”

“He has always kept a very low profile, and is not popular among the business communities in India or abroad. Totally inexperienced in the field, he has confused a lot of people as to how he was able to enter into the airline industry,” it said.

In the 1980s, Jalan started working at his family’s paper trading business in Kolkata. He also worked as a trader for JK Paper and Ballarpur Industries, which were once big paper manufacturing companies.

In 2003, he wanted to expand his paper business, and acquired Kolkata-based Kanoi Paper and Industries. He renamed it Agio Paper, and it currently has a manufacturing facility in Bilaspur (Chattisgarh).

However, in 2010, the paper company faced a lawsuit from government agencies, for pollution-related issues, and its production activities have been suspended since then, as per the report. “So almost his whole career, his focus was on the paper industry and even that did not end well either,” it said.

Jalan then began plans to enter the real estate and healthcare sector.

“In 2015, he approached Dr. Naresh Trehan and Associates Health Services. He went on to acquire a stake in the company for Rs 75 crore, through a secondary share sale transaction. A secondary sale means that Jalan bought-out the shares from an existing stockholder. Around the same time as the acquisition, Dr. Trehan’s Medanta Hospital had plans to establish a hospital in Dubai, with the help of Jalan. Unfortunately, this plan was not implemented,” Marketfeed reported.

Once Jalan moved his base to the UAE, he quickly expanded to sectors such as real estate, mining, fast-moving consumer goods, and construction. He was chairman of the Agio Image group, which sold and distributed photographic and consumer products of well-known companies such as Sony, Panasonic, and Konica.

He also established a real estate development company, MJ Developers. The firm has its headquarters in Dubai, but its main businesses span over countries such as Russia, Brazil, and India. MJ Developers is currently engaged in developing residential and commercial properties in Uzbekistan.

Jalan had partnered with his own family relatives to set up Patanjali India Distribution Ltd. The report says that documents from the Ministry of Corporate Affairs state that this company would be involved in trading, export, distribution, and marketing of milk products and health foods. The list of products also included herbal medicines and ayurvedic cosmetic items.

“Regardless of these claims, the company never opened, and the founders never looked back on it. We do know that Patanjali Ayurved is owned by the yoga guru, Baba Ramdev. However, it is not clear whether the two companies are linked in some way,” the report said.

Some may question as to why there was a sudden need for Jalan to enter into the airline field. Many have suspicions whether this deal would really help the airline to bring back its former glory, the report said.

Jalan, however, said: “Jet Airways is a renowned Indian aviation company with a strong legacy. The aviation sector underwent substantial correction on account of Covid-19 and created an opportune time to enter the sector. Our vision for Jet Airways is to operate the carrier as a full-service airline, both domestic and international.”

But, as per the report: “The point to be noted here is that Jalan has no expertise in this particular sector. However, the management team of Kalrock does have the essential experience from cargo and logistics management through past deals.”

“But now, a major doubt remains to be answered – how was Jalan able to create all this wealth and expand his business to such a large magnitude? We have seen that his initial business in the paper manufacturing industry had failed. Also, when Jalan moved to the UAE, he was not able to contribute effectively towards the implementation of projects in the healthcare sector. He created a company in India that was never launched. Moreover, the fact that most business people don’t know about him, makes everything all the more suspicious. All these facts make us feel very unsure and doubtful about his new deal with Jet Airways,” it said.

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Will work with JPC to set record straight on data privacy: Amazon

Google and Paytm too have been asked to appear before the committee on October 29.

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Jeff Bezos Amazon CEO

New Delhi: Amazon, which has refused to appear before a joint parliamentary committee (JPC) next week, said on Friday that its position on the Personal Data Protection Bill 2019 has been “misconstrued” and the e-commerce giant would work with “the JPC to set the record straight”.

The online retail giant is scheduled to appear before the committee on October 28.

In a statement shared with IANS, an Amazon spokesperson said that they have the utmost respect and regard for the important work being done by the JPC on the PDP Bill.

“We have already offered our written submissions for consideration of this august committee. We will continue to engage in any way the JPC considers fit,” the spokesperson said.

“The inability of our experts to travel from overseas due to travel restrictions and depose before the JPC during the ongoing pandemic may have been misconstrued and led to a misunderstanding,” the spokesperson added.

Sources suggest that the committee, which has 20 members from the Lok Sabha and 10 from the Rajya Sabha, is of the unanimous opinion that if Amazon representatives indeed fail to show up on October 28, “appropriate actions” can be initiated against the US business giant.

However, there is no clarity so far, as far as the nature of “appropriate actions” is concerned.

Apart from Amazon, companies such as Twitter and Facebook have also been summoned.

Google and Paytm too have been asked to appear before the committee on October 29.

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Urgent need to rationalise weights under retail inflation: Report

“Clearly, the inflation numbers based on a broken CPI methodology hides more things than it reveals and RBI will be constrained in its policy decisions, an irony in itself!”

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Inflation

New Delhi, Oct 23 : There is an urgent need to rationalise the weights under retail inflation, a SBI Ecowrap report said on Friday.

According to the report, inflation numbers based on a broken CPI methodology hides more things than it reveals.

Consequently, the headline inflation constrains the RBI in its policy decisions.

“With the recent changes in CPI (IW), we again raise questions on the validity of continuing with existing weights in Headline CPI,” the report said.

The weighting pattern of food items in CPI, at 45.86 per cent, is based on 2011-12 Consumer Expenditure Survey (CES).

This is significantly different from the share of food and beverages (30 per cent) in the ‘Private Final Consumption Expenditure’ published by the National Account Statistics (NAS).

“Against such a backdrop, we again reiterate there is urgent need to rationalise the weights under CPI,” the report said.

“If we provisionally calculate the new CPI by looking at revised weights of CPI (IW) with 2016 as the base and logically assuming the same trend in CPI, we find that the weights of food in CPI could decline by at least as much as 6 per cent, thus shaving of 50 basis points from current headline CPI at 7.34 per cent.”

Such rebasing of CPI, the report pointed out, also finds mention in MPC minutes.

“However, the weights of services could jump by at least 7 per cent through the postulated increase in service consumption pushing up the weighted contribution of miscellaneous inflation by 42 basis points,” the Ecowrap said.

“Thus, the overall impact will depend on the strength of food and services, though the bottomline is the revised hypothetical CPI is more representative of demand pressures as weights of services and food could be almost in equal proportion.”

However, the report cited that CPI is drawn from “CES and such survey is still pending since 2017”.

“Adding to woes, the Oct’ 20 CPI inflation will be more than 7 per cent due to unexpected rains in major part of the country,” it said.

“Clearly, the inflation numbers based on a broken CPI methodology hides more things than it reveals and RBI will be constrained in its policy decisions, an irony in itself!”

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