Nitin Gadkari, 61, collapses on stage at University convocation in Maharashtra

Agencies
December 7, 2018

Ahmednagar, Dec 7: Union Minister for Shipping Nitin Gadkari fainted and collapsed during a function in Ahmednagar, Maharashtra, on Friday.

The incident occurred when he was standing with other dignitaries for the National Anthem at the convocation function of the Mahatma Phule Krishi Vidyapeeth (MPKV) Agricultural University.

Gadkari started feeling uneasy, lost his balance and collapsed on the dais. Maharashtra Governor C V Rao and some others rushed to prevent him from falling.   

He was examined by a team of medicos and his condition was described as "stable" by Bharatiya Janata Party colleagues.

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March 27,2024

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The Enforcement Directorate has filed a money laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan, her IT company and some others to probe a case of alleged illegal payments made by a private mineral firm to her and the company, official sources said Wednesday.

The agency has registered a case under the Prevention of Money Laundering Act (PMLA) and is expected to summon the people involved, the sources said.

The ED case has been booked after taking cognisance of a complaint filed by the Serious Fraud Investigation Office (SFIO), an investigative arm of the Union corporate affairs ministry, they said.

The case stems from an Income Tax Department investigation that alleged that a private company called Cochin Minerals And Rutile Ltd (CMRL), made an illegal payment of Rs 1.72 crore to Veena's company-- Exalogic Solutions-- during 2018 to 2019, even though the IT firm had not provided any service to the company.

The Karnataka High Court had last month dismissed a plea filed by Exalogic Solutions against the probe initiated by the SFIO.

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March 14,2024

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Mangaluru, Mar 14: “Hindutva is my commitment and development is my priority,” said Indian army veteran and entrepreneur Captain Brijesh Chowta after the BJP high command announced a ticket to him from Dakshina Kannada Lok Sabha constituency.

Known as a BJP stronghold, Nalin Kumar Kateel has served as the MP of this constituency for the past 15 years.

Soon after the announcement was made, 42-year-old Chowta, who is also the BJP state secretary from Dakshina Kannada constituency, sought the blessings of his parents and went to Shree Sharavu Mahaganapathi Temple and visited the war memorial to offer tributes.

A BSc graduate from St Aloysius College, he completed his executive business Management program from the Indian Institute of Management, Indore.

He was commissioned into the 7th battalion of the 8 Gorkha Rifles and served in counter-insurgency operations in Assam and Manipur and was part of Elite Ghatak team. He also served as the adjutant to the battalion. He has been associated with the BJP since 2013. He is the president of Mangaluru Kambala and organiser of Mangaluru Lit Fest.

“Humbled and grateful to our party seniors led by our commander-in-chief PM Narendra Modi for giving me this opportunity to be our party’s candidate and representative of his work and vision in Dakshina Kannada. I pledge to continue to work with even greater rigour for the welfare of our region and people driven by the mantra of ‘Nation First’. I humbly bow down to all our karyakartas & everyone who stood by me & toiled with me to make this happen. Our task has just begun, as we work towards making Dakshina Kannada the number one in the state,” Captain Chowta said on X.

Kateel welcomes change 

Meanwhile, sitting Dakshina Kannada MP Nalin Kumar Kateel has welcomed the party’s decision to field Capt Brijesh Chowta as the BJP candidate for Dakshina Kannada Lok Sabha constituency.

He said the change aligns with the party’s strategy of fostering new talent to broaden its base and activities. He hoped that he will win by a margin of more than 3 lakh votes.

Soon after the list was announced on Wednesday, the three-time MP told reporters that he has brought projects worth about Rs 1 lakh crore during the last 10 years, under the Modi government.

He thanked the party for giving him a big responsibility of leading the party in the state. “I have worked honestly,” he said.

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March 21,2024

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New Delhi: India has now become more unequal in terms of wealth concentration than the British colonial period as income and wealth of the top 1% of the country’s population have hit historical highs, according to a paper released by World Inequality Lab.

By 2022-23, the top 1 per cent income share in India was 22.6 per cent and the top 1 per cent wealth share rose to 40.1 per cent, with India’s top 1 per cent income share among the very highest in the world, higher than even South Africa, Brazil and the US.

Co-authored by economists Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi, the paper stated that the “Billionaire Raj” headed by “India’s modern bourgeoisie” is now more unequal than the British Raj headed by the colonialist forces. 

The paper said there is evidence to suggest the Indian tax system might be “regressive when viewed from the lens of net wealth”. A restructuring of the tax code is needed, the paper said, adding that a levy of a “super tax” of 2 per cent on the net wealth of 167 wealthiest families would yield 0.5 per cent of national income in revenues and create space for investments.

“A restructuring of the tax code to account for both income and wealth, and broad-based public investments in health, education and nutrition are needed to enable the average Indian, and not just the elites, to meaningfully benefit from the ongoing wave of globalisation. Besides serving as a tool to fight inequality, a “super tax” of 2% on the net wealth of the 167 wealthiest families in 2022-23 would yield 0.5% of national income in revenues and create valuable fiscal space to facilitate such investments,” the paper said. 

The paper has analysed data based on the annual tax tabulations published by the Indian income tax authorities to extract the distribution of top income earners between 1922-2020.

The share of national income going to the top 10 per cent fell from 37 per cent in 1951 to 30 per cent by 1982 after which it began steadily rising. From the early 1990s onwards, the top 10 per cent share increased substantially over the next three decades, nearly touching 60 per cent in the most recent years, the paper said. This compares with the bottom 50 per cent getting only 15 per cent of India’s national income in 2022-23.

 The top 1 per cent earn on average Rs 5.3 million, 23 times the average Indian (Rs 0.23 million). Average incomes for the bottom 50 per cent and the middle 40 per cent stood at Rs 71,000 (0.3 times national average) and Rs 1,65,000 (0.7 times national average), respectively.
The richest, nearly 10,000 individuals (of 92 million Indian adults) earn on average Rs 480 million (2,069 times the average Indian). “To get a sense of just how skewed the distribution is, one would have to be at nearly the 90th percentile to earn the average income in India,” the paper said.

In 2022, just the top 0.1 per cent in India earned nearly 10 per cent of the national income, while the top 0.01 per cent earned 4.3 per cent share of the national income and top 0.001 per cent earned 2.1 per cent of the national income.

Enlisting the probable reasons for sharp rise in top 1 per cent income shares, the paper said public and private sector wage growth could have played a part till the late 1990s, adding that there are good reasons to believe capital incomes likely played a role in subsequent years. For the shares of the bottom 50 per cent and middle 40 per cent remaining depressed, the paper said, the primary reason has been the lack of quality broad-based education, focused on the masses and not just the elites.

“One reason to be concerned with such high levels of inequality is that extreme concentration of incomes and wealth is likely to facilitate disproportionate influence on society and government. This is even more so in contexts with weak democratic institutions. After largely being a role model among post-colonial nations in this regard, the integrity of various key institutions in India appears to have been compromised in recent years. This makes the possibility of India’s slide towards plutocracy even more real. If only for this reason, income and wealth inequality in India must be closely tracked and challenged,” it said.

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