Defending the idea of once nation, one poll, the PM says that around Rs 1,000 crore were spent on the general election in 2009. This increased to Rs 4,000 crore in 2014 and another Rs 3,000 crore have been spent on holding assembly polls in several states since 2014, he says. Apart from this, a large number of forces remain occupied with providing security for elections amid new challenges. So, he urges parliamentarians to rise above party politics and have a constructive discussion on holding simultaneous Lok Sabha and Vidhan Sabha elections in the various states.
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PM @narendramodi ರವರೆ— Siddaramaiah (@siddaramaiah) February 7, 2018
It was good of you to have remembered me in the Parliament today. I am glad you also remembered Basavanna.
Basava said “those with wealth will build temples; what do I do a poor man?”
Kannadigas will thank you sir if you could follow Basavanna’s teachings.
Congress President Rahul Gandhi has been quick to take a jibe at the PM through a tweet, saying that although he is giving a long speech, he remained silent on matters of importance to the nation and tried to cover up the failures of his government. Gandhi also raised the question of Rafale jet deal again and asked when the PM will break his silence on the issue.
बहुत लम्बी थी साहेब की बात— Office of RG (@OfficeOfRG) February 7, 2018
सदन में दिन को बता दिया रात
अपनी नाकामियों पर डाले पर्दे
अफसोस भाषण से गायब थे देश के मुद्दे
प्रधानमंत्रीजी चुप्पी कब तोड़ेंगे
राफेल डील पर आखिर कब बोलेंगे?#PradhanMantriJawabDo
PM Modi to Congress: Your vision is bleak and your work was incomplete. Who stopped you from taking decision on triple talaq? The issue was pending with you for over 30 years, but you did not act. But when we abolished the practice and brought a law to send the culprits to jail, you have a problem. You sent Hindu men to jail for marrying twice, but you have a problem sending a Muslim man to jail.
PM Modi asks why the Congress keeps attacking the government for national achievements. Why can’t we work together to empower farmers and boost agriculture, he says, and adds that they should all work towards modernisation in farming. Citing the example of Bamboo, which is not considered a tree anymore, he says that Congress made a law to prohibit cutting of bamboo by classifying it as a tree. The whole world considers bamboo as grass, he says. “We changed the law and today bamboo is even being exported from India and is a source of income for farmers,” the PM says.
PM: The nation suffered because of this culture (of launching schemes). The schemes & projects were planned 30 to 40 years ago in a hurry. I have cleared them now. This took 9 to 10 lakh crore rupees. You call us name changers and blame us for all failures, but why don’t you take credit for massive unemployment in your tenure?
Saying that Congress always dragged its feet on corruption, the PM starts listing things for which credit should go to Congress. He says that Congress gets credit for doing nothing to check rise of black money. For 28 years, the Congress did not implement a benami law, he says, and adds that it did not form an SIT for three years even after the Supreme Court directed it to.
PM Narendra Modi: I have always said that for the nation's development so far, all the previous govt's have made a contribution. But while we always kept the nation first, the Congress always wants credit first. Like kids, you always want to bat first.... When you don’t get it, you sulk. He cites the example of GST, for which Congress claims credit. It was our government which managed to implement it, he says.
The PM says that being in power for more than 50 years has made it cut off from the ground realities. Accusing the Congress of not wanting to be a part of the ‘New India’, he says that (Congress) people sitting here “need that India where there is emergency... you need that India where there is tandoor case... you want the India where Sikhs are killed… you need that India where Bhopal gas tragedy accused are set free.”
The PM says that being in power for more than 50 years has made it cut off from the ground realities. Accusing the Congress of not wanting to be a part of the ‘New India’, he says that (Congress) people sitting here “need that India where there was emergency... you need that India where there was tandoor case.”
Prime Minister Narendra Modi is delivering a motion of thanks for the President’s address in Rajya Sabha. After attacking the Congress in Lok Sabha earlier in the day, he makes a pitch for 2019 and says that a lot needs to be done in the health sector. “Ayushmaan Bharat Yojna is not for one party. It’s for the nation... I want all parties to come together and discuss the programme... I am ready to listen,” says the PM as he calls for building consensus on the health protection scheme.
Expert view as RBI keeps repo rate on hold, stance as 'neutral': Radhika Rao, Group Economist, DBS, Singapore "The central bank's stance was largely along expected lines, reflected in a relatively muted response in the bond and equity markets. The stance is tilted slightly towards hawkish, with headline inflation seen above target in FY19." "They remain optimistic on growth, expecting FY19 to head back toward 7 percent. The guidance is likely to remain data-dependent, with a shift to tighten rates requiring further evidence in a build-up in inflationary pressures." (courtesy: Reuters)
Expert view as RBI keeps repo rate on hold, stance as 'neutral' : Aditi Nayar, Principal Economist, ICRA Limited, Gurugram: "As anticipated, the last planned review for FY2018 saw the Monetary Policy Committee (MPC) leaving the repo rate unchanged at 6 percent. Moreover, it retained the neutral stance of monetary policy and reiterated its commitment toward achieving the medium-term inflation target of 4 percent." "Despite the upward revision in the inflation forecast and concerns highlighted regarding growing inflation risks amid the crystallization of the fiscal slippage, the tone of the policy was not as hawkish as expected, given the comment that the nascent recovery needs to be carefully nurtured."(courtesy: Reuters)
RBI said in its 6th bi-monthly policy statement today. The decision of the Monetary Policy Committee (MPC) is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth, the RBI statement said.
Meanwhile, the RBI has kept the key repo rate, at which it lends to banks, unchanged at 6 per cent. "Domestic pump prices of petrol and diesel rose sharply in January, reflecting lagged pass-through of the past increases in international crude oil prices. Considering these factors, inflation is now estimated at 5.1 per cent in the fourth quarter, including the HRA (house rent allowance) impact," the RBI said in its 6th bi-monthly policy statement today.
Indian shares and the rupee rose on Wednesday while bond yields fell after the Reserve Bank of India took a cautious tone on growth and inflation in its monetary policy statement. The 10-year benchmark bond yield fell to 7.54 percent from about 7.60 percent before the statement. It had ended at 7.57 percent on Tuesday. The rupee rose briefly before trimming gains and was trading at 64.13 to the dollar. It had ended at 64.25 on Tuesday. The broader NSE Nifty rose briefly after the policy announcement and was little changed by 0920 GMT. As expected, the RBI kept its main repo rate steady at 6.00 percent for a third straight policy meeting and retained its "neutral" stance, seeking to support a slowing economy even as inflation has accelerated to a 17-month high.
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