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Mehbooba calls PDP meet as Abdullah says ready to tie up with BJP

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Mehbooba Mufti

Sensing good opportunity to be part of  Jammu and Kashmir  government, Farooq Abdullah gave a new twist to the state politics by saying National Conference  is open for alliance with  BJP after which PDP chief Mehbooba Mufti  hurriedly  called  a meeting of senior leaders on Sunday .

PDP and BJP had entered into post poll alliance to form the coalition government headed by Mufti Mohammad Sayeed. But with the sudden death of Sayeed on 7 January  and Mehbooba  and the state still in mourning , Jammu and Kashmir has been under president’s rule since January 9 as neither PDP nor BJP staked claimed for forming the government.

PDP insiders have  said that  After mourning period , Mehbooba will be able to rule Jammu and Kashmir  as right now “She is not in a proper frame of mind.”

Mehbooba Mufti is chairing the meet of  ‘extended core group’ of PDP .The meeting will be attended by party MPs, former ministers, and the senior party office bearers.

The meeting has been called in the backdrop of reports that Mehbooba is unhappy over a variety of issues with BJP, a party with which Mufti ran a coalition government for 10 months after tying up following a hung verdict in assembly elections.

The issues believed to be nagging the PDP leadership range from Sayeed not being given proper respect when he passed away in Delhi on January 7 to meagre flow of funds from the Centre to the state, which is now under a spell of governor’s rule.

In the 87-member Assembly, PDP has 27 MLAs while BJP has 25 legislators.

As uncertainty loomed large over the continuance of PDP-BJP alliance, National Conference (NC) leader Farooq Abdullah said on Saturday his party is ready to consider a tie-up with the BJP for government formation if such an offer is received.

“If such a proposal comes, then NC will call a Working Committee (meeting) and debate over it. If such a situation arises, NC can think over it as we have not closed the doors. Our doors are open,” he told reporters in Jammu.

Abdullah, whose party had earlier been a part of NDA, said, “NC never shies away from its role. In 1996 when nobody was ready for election, we came forward.”

The former chief minister said, “..uncertainty is not good for the state and the situation would benefit our enemies.” While attacking PDP, he added, “Uncertainty has been created by PDP as BJP is ready to form the government and God knows what PDP is thinking, I hope they end this and the government would continue.”

India

Congress flays govt on MSP hike, demands further increase

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Sunil Jakhar Punjab Congress

New Delhi, June 2 : A day after the central government announced increased MSP for Kharif crops, the opposition Congress on Tuesday flayed the move and claimed the farmers were being given too little and that input cost had not been taken into account for MSP calculation.

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India

Will initiate more reforms to get growth back: PM

Speaking about the Aatmanirbhar Bharat economic package, he said that it would work as growth fuel for the MSME sector.

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Modi PM

New Delhi, June 2 : Prime Minister Narendra Modi on Tuesday said that more policy reforms will be implemented to speed-up growth and remove structural bottlenecks in the economy.

Accordingly, the country will also implement measures to reduce import dependence and strengthen domestic supply chains.

In an online address at the 125th AGM of industry body CII, he said that the country has entered into the ”Unlock” phase 1 which focuses on getting the economy back on track and that the Centre will take every possible step to revive growth.

He exuded confidence in the ability of India Inc to bounce back and said that attaining a higher growth level should not be difficult. To make his point, PM gave the example of the PPE industry and said that within three months, the sector has grown tremendously from a scratch into a multi-crore enterprise.

PM called upon India Inc to increase productivity, reduce the country”s import dependence, and encouraged them to partner with farmers to invest in the rural economy.

According to him, the Self-reliant India programme allows for a stronger embrace of the global economy by integrating domestic businesses into international supply chains as reliable partners.

Speaking about the Aatmanirbhar Bharat economic package, he said that it would work as growth fuel for the MSME sector.

Besides, he pointed out to the gathering that labour reforms are being initiated to support workers and increase jobs and that private industries” participation in strategic sectors is becoming a reality.

Modi also said that with the latest decision to amend the APMC Act the farmers will now be free from the dependence on middle-men and will be able to sell their produce anywhere they want to.

“Post-independence laws made farmers dependent on middle-men. They will now get their rights post amendment to APMC Act.”

–IANS

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Moody’s has rated Modi’s handling of India’s economy step above junk: Rahul

It also downgraded India”s local-currency senior unsecured rating to Baa3 from Baa2, and its short-term local-currency rating to P-3 from P-2.

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Rahul Gandhi

New Delhi, June 2 : A day after global credit ratings agency Moody’s Investors Services downgraded India’s sovereign ratings as it sees challenges piled up on the country’s policy making institutions to mitigate the risks of a sustained period of relatively low growth, Congress leader Rahul Gandhi has said the worst is yet to come as the government has not supported the poor and the MSME sector.

Former President of the Congress Rahul Gandhi tweeted: “Moody”s has rated Modi”s handling of India”s economy a step above JUNK.”

“Lack of support to the poor and the MSME sector means the worst is yet to come,” added Rahul Gandhi.

Besides, Moody”s said the Covid-19 pandemic amplifies vulnerabilities in India”s credit profile such as slower growth relative to the country”s potential, rising debt and further weakening of debt affordability and persistent stress in parts of the financial system.

Consequently, Moody”s downgraded India”s foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2.

It also downgraded India”s local-currency senior unsecured rating to Baa3 from Baa2, and its short-term local-currency rating to P-3 from P-2.

Furthermore, it kept the outlook as negative. Currently, the sovereign rating assigned to India is Baa2 with a negative outlook.

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