Take extra care to lessen suffering of poor post note ban: President

January 5, 2017

New Delhi, Jan 5: Extra care must be taken to alleviate sufferings of the poor triggered by economic slowdown which has become unavoidable post demonetisation, President Pranab Mukherjee said today.

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Demonetisation, while immobilising black money and fighting corruption, may lead to "temporary slowdown" of the economy, the President said addressing the Governors and Lt Governors through video-conferencing from Rashtrapati Bhavan here.

"We all will have to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term," Mukherjee said.

He said that while he appreciates the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, he is not too sure that the "poor can wait that long".

"They need to get succour here and now so that they can also participate actively in the national march toward a future devoid of hunger, unemployment and exploitation," the President said.

Mukherjee said the recent package announced by the Prime Minister will provide some relief.
There will be elections in as many as seven states this year and the dates for elections in five of them have already been announced, the President said.

"The conduct of free and fair elections has made our democracy one of the most vibrant in the world. Elections reflect the attitudes, values and beliefs of the people towards their political environment," he said.

Cautioning about competitive populism, electoral rhetoric and vote bank politics during elections, Mukherjee said noisy debates can "deepen the fault-lines in the society".

"Goodwill must prevail between different communities. At times, harmony may be put to test by vested interests. Communal tensions may rear their ugly head. Rule of law must form the sole basis of dealing with any such challenging situation," the President said.

He said the Governors and Lt Governors command respect and attention of the people of their state and they can play a role in easing tensions in the society.

"Through your interaction and wise counsel, you can play an important role in easing the tensions in the society," he said in his address.

He said, "In a pluralistic democracy like ours, tolerance, respect for contrary views and patience are a must which have to be preserved.

"India's strength lies in her diversity. The multiplicity in culture, faith and language is what makes India special. There will always be divergent strands in public discourse. We may argue. We may disagree. But we cannot deny the prevalence of multiplicity of opinion," Mukherjee said.

The President asked Governors and Lt Governors to inculcate among the citizens of their states this fundamental ethos of the civilisation.

Mukherjee said the year gone was a year of mixed fortunes.

"It began on a very promising note with the economy performing well, overcoming the weak global economic trends. GDP growth of 7.2 percent in the first half of 2016-17 -- same as that of last year-- is a pointer to the fact that our economic recovery has been on solid grounds," he said.

In 2014 and 2015, below normal rains had caused rural distress but a good monsoon in 2016 is expected to improve agricultural production and increase rural employment and incomes, Mukherjee said.

"Though our exports have been affected by weak global demand, we have a stable external sector. Reviving exports will remain a challenge but we can overcome it by improving the competitiveness of the domestic industry," he said.

The President asked the Governors and Lt Governors to protect, preserve and defend the Constitution as they had taken an oath when they assumed this exalted office.

"This pious document protects the liberty of the people and promotes the well-being of the citizens. It decrees inclusiveness, tolerance, self-restraint, and protection of women, senior citizens and weaker sections as essential ingredients of our polity. Our institutions of democracy must operate on these vital features," he said.

Mukherjee said strong credible institutions lead to good governance ensuring a healthy functioning of the democracy.

The President also asked them to work with the academic leaders to effect holistic changes for quality up-gradation in the institutions of higher learning.

He also asked them to promote art and culture in their respective states.

"As I have said elsewhere, art and culture are our link with the past. They provide the foundation for our current thought and by extension, the platform for our future action.

They also provide a stable base to life and make it possible for us to have a joyous existence.

"With art and culture, we can experience life in its fullest and most meaningful form. They add to the overall happiness and well-being of the society," he said.

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News Network
April 20,2024

Union Finance Minister Nirmala Sitharaman, on Friday, said that the Bharatiya Janata Party (BJP) plans to reintroduce electoral bonds in some capacity following extensive consultations with all stakeholders, should it come back to power in the 2024 general elections, according to a report in the Hindustan Times (HT).

HT cited Nirmala Sitharam as saying, “We still have to do a lot of consultation with stakeholders and see what is it that we have to do to make or bring in a framework which will be acceptable to all, primarily retain the level of transparency and completely remove the possibility of black money entering into this.”

However, the Centre has not yet decided whether to seek a review of the ruling made by the Supreme Court (SC), she said.

She further added, “What the scheme, which has been just thrown out by the Supreme Court, brought in was transparency. What prevailed earlier was just free-for-all.”

Launched in 2018, electoral bonds were accessible for acquisition at any State Bank of India (SBI) branch. Contributions made through this programme by corporations and even foreign entities via Indian subsidiaries received full tax exemption, while the identities of the donors remained confidential, safeguarded by both the bank and the recipient political parties.

On February 15, a five-judge Constitution Bench struck down the scheme, deeming it ‘unconstitutional’ due to its complete anonymisation of contributions to political parties. Additionally, the Bench stated that the articulated objectives of curbing black money or illegal election financing did not warrant disproportionately infringing upon voters’ right to information.

FM Sitharaman said, some aspects of the scheme need improvement and they will be brought back following consultations.

She also lashed out at the Opposition’s claims that the BJP disregarded criminal charges against leaders who switched from other parties to join the ruling party.

The HT quoted her as saying, “The BJP can’t sit here and say, you come to my party today, and the case will be closed tomorrow. The case has to go through the courts that have to take a call; they will not just say, “Oh, he’s come to your party, close the case.” Doesn’t happen that way. So is this washing machine a term they want to use for the courts?”

She further said that the Union government plans to simplify the process of taxation and make it easy for investments to come through into the country.

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News Network
April 25,2024

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The Election Commission of India on Thursday announced that it had taken cognisance of violations to the Model Code of Conduct by both Prime Minister Narendra Modi and Congress leader Rahul Gandhi.

While Modi has indulged in a diatribe against Muslims, without naming them, using terms like 'infiltrators' and 'those with more children', Rahul has been accused of making a false claim about 'rise in poverty'.

Both the BJP and INC have raised allegations of causing hatred and divisions based on caste, religion, language, and community, ANI reported.

While the EC had initially refused to comment on Modi's speeches, sources had told PTI that the commission was 'looking into' the remarks made by the BJP leader.

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April 17,2024

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New Delhi: Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the ten years since 2014 compared to the preceding nine-year period, according to official data.

An analysis of the data by PTI for the last ten years, between April 2014 and March 2024, against the nine years from July 2005 to March 2014 presents a picture of the federal agency's "intensified" action under various sections of the Prevention of Money Laundering Act (PMLA).

The PMLA was enacted in 2002 and implemented from July 1, 2005, to check serious crimes of tax evasion, generation of black money and money laundering.

While the opposition parties have alleged that the ED's action during the last decade was part of the BJP-led central government's "oppressive" tactics against its rivals and others, the Union government and the ruling party have asserted that the agency is independent and its investigations were purely based on merit and under the mandate to act against the corrupt.

The ED booked as many as 5,155 PMLA cases during the last ten years as compared to a total of 1,797 complaints or Enforcement Case Information Reports (ECIRs or FIRs) filed during the preceding period (2005-14), a jump of about three times, the data said.

The data shows that the agency also got its first conviction starting the 2014 fiscal and it has, till now, got 63 persons punished under the anti-money laundering law.

The ED conducted 7,264 searches or raids in money laundering cases across the country during the 2014-2024 period as compared to just 84 in the preceding period - a jump of 86 times.

It also arrested a total of 755 people during the last decade and attached assets worth Rs 1,21,618 crore as compared to 29 arrests and Rs 5,086.43 crore worth of attachments respectively during the last compared period, the data stated.

The arrests are 26 times more, while figures related to the attachment of properties are 24 times higher.

The agency issued 1,971 provisional attachment orders for various types of immovable and movable assets during the last decade as compared to 311 such orders taken out in the preceding comparable period.

It got about 84 per cent of the attachment orders confirmed from the Adjudicating Authority of the PMLA during 2014-24 as compared to 68 per cent confirmations from the same authority during the last compared period.

The filing of charge sheets also saw a jump of 12 times in the last decade with 1,281 prosecution complaints filed by it before courts as against 102 during the preceding period.

The data said the ED secured conviction orders in 36 cases from various courts leading to the prosecution of 63 persons and a total of 73 charge sheets were disposed of during the last decade.

No conviction was obtained by the agency nor any charge sheet was disposed of under the anti-money laundering law during the 2005-14 period, according to the statistics.

The agency also got the court's permission to confiscate assets (attached as proceeds of crime under the PMLA) worth Rs 15,710.96 crore and it also restituted properties (including bank funds) of Rs 16,404.19 crore (out of the total amount under confiscation) during the last decade.

As there were no convictions during the preceding nine-year period, no confiscation of assets and resultant restitution could take place, as per the data.

The ED is also empowered to seize cash under the PMLA and the data said the agency froze more than Rs 2,310 crore worth of Indian and foreign currency during the last ten years as compared to a figure of Rs 43 lakh during the preceding period.

The agency also got notified a total of 24 Interpol red notices for apprehension of various accused who left India and hid in foreign shores and sent 43 extradition requests during 2014-24.

No such action was taken by the agency during the preceding period.

Four persons were extradited to India during the last ten-year time period while similar orders were secured against businessmen Vijay Mallya, Nirav Modi and Sanjay Bhandari. The three are based in the UK and the ED is trying to bring them back to the country as all the accused are contesting the orders issued against them.

"These statistics reflect the intensive drive that the ED has undertaken to check money laundering crimes," an agency official said.

The ED investigates financial crimes under two criminal laws -- the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) -- apart from the civil provisions of the Foreign Exchange Management Act (FEMA).

The FEOA was enacted by the Narendra Modi government in 2018 to cripple those who are charged with high-value economic frauds and abscond from the country to evade the law.

The ED, as per the data, filed a total of 19 such applications before the designated special PMLA courts in the country following which 12 persons have been declared fugitive economic offenders.

It also confiscated assets worth Rs 906 crore under the said law by the end of the last fiscal on March 31.

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