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Rajan blames Modi , says Demonetisation, GST held back India’s economic growth

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Washington, Nov 10 : Former RBI Governor Raghuram Rajan openly criticized the two major decisions viz Demonetoisation and the Goods and Services Tax (GST) of Prime Minister Narendra Modi for obstructing India’s economic growth last year.

Concerning the NPAs,Rajan said that the  bankruptcy code cannot be the only way to clean up the banks, rather  a multi-prong approach is required to address the challenge of NPAs in India.

Rajan asserted that the current seven per cent growth rate is not enough to meet the country’s needs.

While addressing an audience at the University of California in Berkley on Friday, Rajan said from 2012 to 2016 India was growing at a faster pace before it was hit by two major headwinds.

“The two successive shocks of demonetisation and the GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking up,” he said delivering the second Bhattacharya Lectureship on the Future of India.

Rajan said that the Indian economy is going through a rough time as seven is not enough for the kind of people coming into the labour market and we need to create one million jobs a month for the people joining the labour force.

“What happened in 2017 is that even as the world picked up, India went down. That reflects the fact that these blows (demonetisation and GST) have really really been hard blows…Because of these headwinds we have been held back,” he said.

 

India

Pak Minister’s Admission Revealed Truth Of Pulwama Attack, Silenced Govt Critics: Rajnath Singh

Pakistani minister Fawad Chaudhry admitted that his country was responsible for the Pulwama terrorist attack in J&K that killed 40 CRPF personnel

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Rajnath Singh

Defence Minister Rajnath Singh Friday said that a Pakistani minister’s admission of his country’s involvement in the 2019 Pulwama attack has revealed the truth on the matter and silenced those who had questioned the NDA government’s intent on the issue.

His statement came at an election rally a day after senior Pakistani minister Fawad Chaudhry sensationally admitted that his country was responsible for the Pulwama terrorist attack in Jammu and Kashmir that killed 40 CRPF personnel and brought the two countries to the brink of a war.

“A Pakistani minister has revealed the truth in the Pulwama attack by giving a statement in the National Assembly. Pakistan has accepted that they were behind the Pulwama attack. Until now, they had been saying they were not involved in it,” he said.

Forty Central Reserve Police Force personnel were killed on February 14, 2019, when a jeep laden with explosives had hit a convoy of vehicles carrying security personnel on the Jammu-Srinagar highway at Lethpora in Pulwama.

Singh said, “Congress leaders had questioned our intent then. But now that a Pakistani minister has given a statement in the National Assembly that Pakistan was involved in the Pulwama attack, they are silent,” he said.

He said Opposition leaders were indirectly empowering Pakistan.

“Whenever we work for the country’s security with all our strength, the Congress and other opposition leaders raise questions,” he said.

The senior BJP leader said when former Prime Minister Indira Gandhi had divided Pakistan into two, BJP stalwart late

Atal Bihari Vajpayee had praised her in Parliament.

“But, the Congress today has only one work left: doubting and raising questions over the government’s achievements. On the issue of the country’s territorial integrity, we should rise above political lines and work together, he added.

Singh said the opposition keeps saying that China has “grabbed” India’s land, but if “we reveal the achievements of our Army, you all will jump out of joy”.

Congress leader Rahul Gandhi had said in a recent political rally that China had captured “1200 km” of Indian land.

Singh said 20 Indian soldiers made the supreme sacrifice in the Galwan Valley in eastern Ladakh in clashes with Chinese troops to protect the country.

Moving on to other issues, he said the country would have been in a much better position if the promises made by leaders in Independent India would have been fulfilled even partially.

“But we walk the talk,” he said, and listed the abrogation of Article 370, the Citizenship (Amendment) Act, providing gas connection to households as major government achievements.

He said it’s Prime Minister Narendra Modis resolve to provide tap water in every house and it is being done expeditiously.

Praising Chief Minister Nitish Kumar’s works and achievements, Singh said there is absolutely no stain on the JD (U) chief over his works during the 15 years of his rule.

He said, “we don’t hold ‘Tel Piyawan, Danda Bhanjan’ rallies, we hold rallies for development”.

Singhs reference to ‘Tel Piyawan, Danda Bhanjan’ (dipping lathis in oil and wielding them to assert power) was a -throwback to an RJD rally in 2003, two years before the party was ousted from power in Bihar.

“We don’t open charwaha schools (schools for those grazing their cattle) now, we want to make their children IAS officers, IPS officers, doctors and engineers,” he said, ridiculing RJD chief Lalu Prasad’s pet project of Charwaha Vidyalaya.

“The lantern (RJDs polls symbol) era has ended, and the LED era has ushered in,” he wryly said.

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India And US Discuss UNSC Agenda, Will Work Together On ‘Rule-Based International Order’

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India and the US have held wide ranging discussions on issues on the UN Security Council agenda and agreed to work closely given their shared values of democracy, pluralism and rule-based international order, officials in Washington said.

Earlier this year, India, along with Mexico and Ireland, was elected a non-permanent member for a two-year term starting January 1, 2021.

The consultations between India and the US are reflective of the efforts on the part of the two countries to coordinate on a host of global issues that would come up before the powerful organ of the United Nations next year.

“Both sides held wide-ranging discussions on issues on the UN Security Council agenda and recent developments,” the Embassy of India here said in a statement on Thursday.

“They agreed to work closely together given their shared values of democracy, pluralism and rule-based international order, during India’s upcoming term as a non-permanent member of the UNSC during 2021-22,” it said.

India has been pushing for reforms of the United Nations, including the Security Council, stating that its composition doesn’t reflect the current realities and is not representative enough.

The UNSC has 15 members, including five permanent members – the US, the UK, France, Russia and China. China is the only permanent member of the UNSC which is opposed to India’s inclusion into the powerful organ. Half of the 10 non-permanent members are elected every year for a two-year term.

Indian delegation for the two-day consultations on Wednesday and Thursday was led by Vinay Kumar, Additional Secretary (International Organisation and Summits) in the Ministry of External Affairs.

The delegation included senior officials from the Ministry of External Affairs, the Permanent Mission of India in New York and the Embassy of India in Washington, DC.

The US delegation was led by Pamela D Pryor, Acting Assistant Secretary for State Department’s Bureau of International Organisation Affairs, and included other senior State Department officials.

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Javadekar: Those who called Pulwama a ‘conspiracy’ must apologise

Now his own minister has exposed Khan’s lies. Forty CRPF Jawans were martyred in an attack in Pulwama on February 14, 2019.

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Prakash Javadekar

New Delhi: A day after Pakistan’s acceptance that it was behind the Pulwama attack in India last year, Union Minister Prakash Javadekar has targeted opposition leaders who spread conspiracy theories about it, asking them to apologise to the country.

“Pakistan has admitted that it was behind the Pulwama attack,” the Union Information and Broadcasting Minister said on Friday. “Now, the Congress and the rest of those who talked about a conspiracy should apologise to the country.”

Javadekar’s response came after the statement of Pakistan Minister Fahad Chaudhry in Pakistan’s parliament on Thursday saying that the attack in Pulwama was a big success for Pakistan under the leadership of Imran Khan.

After the confession, Pakistan has once again been exposed.

India had already proved Pakistan’s role in the Pulwama attack on the basis of hard facts. But Pakistan’s prime minister Imran Khan was not ready to accept its complicity.

Now his own minister has exposed Khan’s lies. Forty CRPF Jawans were martyred in an attack in Pulwama on February 14, 2019.

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