Modi ridicules Dr Manmohan Singh for criticising note ban

February 8, 2017

New Delhi, Feb 8: Prime Minister Narendra Modi today targeted his predecessor Manmohan Singh for describing demonetisation as "loot" and "plunder" even as he asserted in the Rajya Sabha that the fight against black money is not a political one or against any party.

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He tore into Congress and took on Singh who had described demonetisation as "organised loot" and "legalised plunder", saying "the art of bathing in a bathroom with a raincoat on" is known only to the former Prime Minister as there is "no blot on him" despite "all the scams".

This provoked an angry reaction from Congress members who staged a walkout in the midst of the reply by the Prime Minister to a debate on Motion of Thanks to the President's Address which was later adopted by the House after negation of all the 651 amendments.

Members of Left, Trinamool Congress and JD(U) also staged a walkout after the reply, complaining that they were unhappy with Modi's statement and wanted to ask questions which was disallowed.

Modi, in his over one-hour speech, focussed his attack on Congress and other opposition parties for criticising the demonetisation decision and his push for cash-less economy. He also slammed the Congress for finding faults with lack of proper infrastructure in the country, saying by doing so, they were only presenting their "report card" of 70-year rule.

Targeting Singh, he said, "in this country, perhaps there will be hardly anyone from the economic field who has had dominance on the country's financial affairs for half of the country's 70 years of independence. Out of 70 years, for 30-35 years, he has been directly associated with financial decisions.

"So many scams occurred... We politicians have a lot to learn from Dr Sahab. So much happened, there is not a single blot on him. Dr Sahab is the only person who knows the art of bathing in a bathroom with a raincoat on."

As Congress members created uproar and staged a walkout, an angry Modi said, "if you cross the limits of decorum, then you should have courage to listen to the response. We have the capacity to pay in the same coin. We do so within the limits of decorum and boundaries of the Constitution. They (Congress) don't want to accept the defeat in any form. How long will it continue??

He went on to add, "the person who held such a high post, used the words 'loot' and 'plunder' in the House. Then they (Congress) also should have thought 50 times (before using those words)."

Singh, while speaking in the Rajya Sabha during the last Winter Session, had castigated the Prime Minister over demonetisation, saying its implementation was a "monumental management failure" and a case of "organised loot and legalised plunder."

Responding to those comments today, Modi also took a swipe at Singh using the pretext of a book. "Manmohan Singh ji had delivered a speech here... Recently a book was released in which Manmohan Singh ji had written the Foreword. Initially, I thought he is a renowned economist and it (the book) will have his contribution. But then I realised that the book was written by somebody else and he had only written the Foreword. In his speech also, I felt the same," the Prime Minister said.

This triggered an uproar from the Congress members. To this, Modi took a dig, saying, "the word I did not even utter, that too they (Congress members) have understood."

As Congress members shouted slogans, Information and Broadcasting Minister M Venkaiah Naidu took strong objection, questioning why the opposition members were so agitated when terms like "Hitler" were used against Modi in the same House. "I request you to go through the records. Prime Minister was called Hitler. Prime Minister was called Mussolini," Naidu said.

The Prime Minister, whose speech was interrupted a number of times due to opposition uproar, also took on the Congress for quoting economists to denounce demonetisation.

"You are quoting economists. If you quote 10, I can quote 20. Economists have never seen such a step anywhere in the world as this has happened for the first time... In fact, this can become a case study for them," he said.

Taking on Congress at another point, Modi quoted a book authored by former Home Secretary Madhav Godbole, which he said, contained criticism of Indira Gandhi for not undertaking demonetisation in 1971 when there was an opportunity. This evoked an uproar from Congress benches.

At this, Modi took a dig at them, saying, "you should have shown behaviour when the book was published. What were you doing when it was published? Were you sleeping all this while? When such allegations were levelled, why were you silent? Had I been in your place I would have filed a case against Godbole."

The Prime Minister said while 125 crore countrymen are making efforts to come out of "inner malaise" of black money and corruption, Congress and other opposition parties are standing against it.

Defending his demonetisation decision announced on November 8 last year, he said, "to fight against black money and corruption is not a political fight. It is not to harass any political. It is the responsibility of everyone to fight against it... We did what our wisdom suggested."

He said the maximum impact of black money is on the poor who have been exploited.
"There is need for more efforts (to fight black money). How long will we keep it brushing under the carpet? Even if this attempt is to be taken forward, it will be taken," he said.

"We need to fight as one. Honest person will not get strengthened, till the dishonest are not dealt with strongly.... The ultimate benefit of these steps is going to be to the poor," he said.

Modi said he did not mean to say that attempts would not have been made earlier. On contention by opposition members that people were facing hardships because of demonetistion, the Prime Minister said there will be "problems while finding a way out of vices".

"There is a horizontal divide in the country...The public sentiment is on one side, while the sentiments of leaders is on the other side. They are cut-off from the public sentiment," he said, attacking the opposition.

"Usually government and public are face-to-face on issues but this is such a decision where government and people are together. Some people are on the other side...You may have faced problems," Modi said

Comments

Rikaz
 - 
Wednesday, 8 Feb 2017

As of now no black money retrieved from anyone. More than 100 people died due to it...it was unsuccessful move of Modi....

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News Network
April 15,2024

New Delhi: India is likely to experience above-normal cumulative rainfall in the 2024 monsoon season with La Nina conditions likely to set in by August-September, the IMD has said on Monday.

However, normal cumulative rainfall does not guarantee uniform temporal and spatial distribution of rain across the country, with climate change further increasing the variability of the rain-bearing system.

Climate scientists say the number of rainy days is declining while heavy rain events (more rain over a short period) are increasing, leading to frequent droughts and floods.

Based on data between 1951-2023, India experienced above-normal rainfall in the monsoon season on nine occasions when La Nina followed an El Nino event, India Meteorological Department chief Mrutyunjay Mohapatra told a press conference here.

Positive Indian Ocean Dipole conditions are predicted during the monsoon season. Also, the snow cover in the Northern Hemisphere is low. These conditions are favourable for the Indian southwest monsoon, he said.

Moderate El Nino conditions are prevailing at present. It is predicted to turn neutral by the time monsoon season commences. Thereafter, models suggest, La Lina conditions may set in by August-September, Mohapatra said.

India received "below-average" cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in 2023, an El Nino year. Before 2023, India recorded "normal" and "above-normal" rainfall in the monsoon season for four years in a row.

El Nino conditions -- periodic warming of surface waters in the central Pacific Ocean -- are associated with weaker monsoon winds and drier conditions in India.

Three large-scale climatic phenomena are considered for forecasting monsoon season rainfall.

The first is El Nino, the second is the Indian Ocean Dipole (IOD), which occurs due to differential warming of the western and eastern sides of the equatorial Indian Ocean, and the third is the snow cover over the northern Himalayas and the Eurasian landmass, which also has an impact on the Indian monsoon through the differential heating of the landmass.

The southwest monsoon delivers about 70 percent of India's annual rainfall, which is critical for the agriculture sector. Agriculture accounts for about 14 percent of the country's GDP.

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News Network
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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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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