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National Herald to stall GST in Parliament

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Arti Bali,

National Herald case has become the headache for Narendra Modi government as other opposition parties are also backing Congress accusing the NDA government of pursuing ‘political vendetta’  against leaders.

Full blown political war in on between Congress and NDA government  and the chances for   functioning of the parliament looks bleak.

Congress will continue to stall both Houses of parliament on Wednesday in protest over the court summons against party chief Sonia Gandhi and Vice President Rahul Gandhi in the National Herald case.

And the conclusion will be that the  government’s plan to pass the crucial Goods and Services Tax (GST) bill in the Winter Session of Parliament will be stalle indefinitely .

Parliament failed to transact any business on Tuesday as Congress members guided by a combative Sonia Gandhi repeatedly disrupted both Houses alleging “vendetta politics”, in an apparent reference to the National Herald case.

Congress members were in the Well all the time, shouting slogans against the government, even as the Chair in both Lok Sabha and Rajya Sabha kept asking them to spell out the reason for their protest which they did not do explicitly.

Ghulam Nabi Azad alleged in the Rajya Sabha that the NDA regime, “is targeting top leaders of Congress, be it Gandhis, Virbhadra Singh, P Chidambaram, Vaghela or Ashok Gehlot, through flimsy charges while turning a blind eye on serious charges against BJP ministers and CMs in Vyapam, Lalit Modi issue etc.”

Finance Minister Arun Jaitley rejected Congress’ charge of political vendetta and said that it has nothing to do with it.

Jaitley told reporters that the case was a matter of serious corruption as “funds collected for political purposes are being used for commercial activity”, adding that the government “doesn’t come into the picture” as it was a private complaint.

“No political vendetta. A private complaint was lodged. Government had nothing to do with it. The High Court has dismissed their case and asked them to go and face trial. Nobody in this country has immunity from law. They can challenge the orders in a higher court or face proceedings,” he said.

A Delhi court Tuesday directed Congress president Sonia Gandhi, party vice president Rahul Gandhi and five others accused in the National Herald case to appear before it on December 19.

“Make sure all the accused appear on December 19. I am giving exemption from personal appearance only for today. Don’t come in the morning on December 19. You come at 3 pm,” Metropolitan Magistrate Lovleen said after hearing submissions at the Patiala House Courts..

India

Congress flays govt on MSP hike, demands further increase

Jakhar alleged that in many states, the crop procurement was not done as per the MSP and farmers were forced to sell their yield in the open market.

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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.

The Congress leader demanded further increase in MSP of different crops and an assurance from the government that the produce will be procured in time.

Punjab Congress President Sunil Jakhar, who raised the issue on behalf of his party, said: “Farmer is also a corona warrior but nobody cheered him for his contribution. Even the Prime Minister has left him at God”s mercy.”

The Congress said that due to reverse migration of farm labourers, the agricultural cost had increased in many states and government has neglected this factor while announcing the MSP.

The Commission for Agricultural Costs & Prices (CACP) report is not in public domain and talk of agricultural reforms remains within the inter-ministerial group while the states — which are stakeholders — don”t even know about it, said Jakhar.

Jakhar alleged that in many states, the crop procurement was not done as per the MSP and farmers were forced to sell their yield in the open market.

“The government is not able to procure all farm produce, with a major chunk of its procurement comprising paddy and wheat,” the Congress leader said.

Earlier, senior Congress leader Ahmed Patel said: “If this is going to be the government”s attitude towards farmers, their promise to double the farmers” income by 2022 will end up becoming another ”jumla”.”

“Forget about profit, this so-called raise in Kharif crops MSP won”t even cover their losses and debts,” he added

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Monday approved an increase in the MSPs for all mandated Kharif crops for marketing season 2020-21.

The highest increase in MSPs is for niger seed (Rs 755 per quintal) followed by sesamum (Rs 370 per quintal), urad (Rs 300 per quintal) and cotton (long staple) (Rs 275 per quintal).

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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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