UP opposition parties learn lessons from Karnataka

Agencies
May 20, 2018

The outcome of Karnataka assembly polls has underlined the need for the opposition parties in Uttar Pradesh to prevent a split in the anti-BJP vote in the 2019 Lok Sabha polls, party leaders said.

Opposition parties like the Samajwadi Party, the Bahujan Samaj Party and the Congress argue that it was a division in the anti-BJP vote that allowed the saffron party to emerge as the single largest party in Karnataka.

"There is a strong need to chalk out a strategy to ensure that the anti-BJP votes do not get divided to give it (BJP) any advantage in the coming elections," SP spokesman Rajendra Chaudhary told PTI here.

Elections now have to be fought strategically, he said.

That success can be achieved through unity has been proved very well in Gorakhpur and Phoolpur, where the SP wrested the seats from the ruling Bharatiya Janata Party with the help of the BSP, Chaudhary said.

Airing similar views, Congress spokesman Dwijendra Tripathi said going by the Karnataka results, it has become all the more important to go to the polls unitedly to not only win elections but also to save the constitutional bodies.

"What is most important today is to keep the BJP out of power and save the Constitution," Tripathi said.

While reacting to the Karnataka results, BSP president Mayawati said the Congress should not repeat the mistake it committed while campaigning in Muslim-dominated areas, terming the Janata Dal (Secular) as the 'B-team' of the BJP.

This, she suggested, had helped the BJP win those seats."It is my suggestion to the Congress not to use such language in the future which could help the BJP and the RSS in future elections," Mayawati had said.

Rashtriya Lok Dal spokesman Anil Dubey said his party was always of the opinion that all like-minded non-BJP parties should come on one platform to stop the BJP.

"The lesson to learn from the Karnataka election is that only a collective opposition can check the BJP and the past record proves this point," Ramesh Dixit, political analyst and former head of the political science department at Lucknow University, said.

In the context of the coming Lok Sabha elections, he suggested it was for the Congress – with its pan-India reach and the ambition to form government in Delhi – to reach out to the smaller parties with a strong base in different parts of the country.

The Congress has to learn from the BJP how it entered into an alliance with the Suheldev Bharatiya Samaj Party and the Apna Dal for the UP assembly polls despite its government being comfortably placed at the Centre, Dixit said.

Leaders who urge opposition unity draw attention to the past two elections in UP where the BJP won convincing victories even though the collective vote share of the non-BJP parties was bigger.

In the last assembly polls in Uttar Pradesh in 2017, the saffron party posted a landslide victory bagging 325 of the 403 seats, with a vote share of 41.35 percent.

In comparison, the SP which was reduced to 54 seats from 224 in the previous assembly election got 28.07 percent of the vote. The BSP came down to 19 seats from 80, getting 22.23 percent votes.

In the 2014 Lok Sabha election, BJP won 71 out of 80 seats with its alliance partner the Apna Dal getting two more, beating the opposition parties hands down.

The BJP got 42.63 per cent votes and the Apna Dal 1.01 percent.

In comparison, the SP won a mere five seats with 22.35 percent votes in 2014. The BSP polled 19.77 percent votes but drew a blank. The Congress got two seats with a 7.53 percent vote share.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 15,2024

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Union minister Amit Shah on Friday, November 15, said PM Narendra Modi will amend the Waqf Act despite opposition from leaders like Uddhav Thackeray and Sharad Pawar.

"Modi ji wants to change the Waqf Board law, but Uddhav ji, Sharad Pawar and Supriya Sule are opposing it," Shah said, addressing a rally at Umarkhed in Maharashtra's Yavatmal district.

"Uddhav ji, listen carefully, you all can protest as much as you want, but Modi ji will amend the Waqf Act," he said. Shah said there are two camps in the November 20 Maharashtra assembly polls, one of 'Pandavas' represented by the BJP-led Mahayuti and the other of 'Kauravas' represented by Maha Vikas Aghadi.

"Uddhav Thackeray claims that his Shiv Sena is the real one. Can the real Shiv Sena go against renaming Aurangabad to Sambhajinagar? Can the real Shiv Sena go against renaming Ahmednagar to Ahilyanagar? The real Shiv Sena stands with the BJP," Shah said.

"Rahul Baba used to say that his government would credit money in the accounts of the people instantly. You were unable to fulfil your promises in Himachal, Karnataka, and Telangana," he said.

Shah said the Mahayuti alliance has promised that women will get Rs 2,100 per month under the Ladki Bahin Yojana. "Kashmir is an integral part of India and no power in the world can snatch it away from us," Shah said.

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News Network
November 21,2024

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After the US prosecutors charged Gautam Adani with bribery and fraud, Congress reiterated its call for a Joint Parliamentary Committee (JPC) probe into the transactions of the Adani group, and hit out at Prime Minister Narendra Modi, alleging an "internal nexus" between him and "his favourite businessman."

Senior Congress leader Jairam Ramesh said the indictment of Gautam Adani and others by the US Securities and Exchange Commission validates his party’s call for a Joint Parliamentary Committee investigation.

The Congress has been pushing for the probe since January 2023, raising concerns over alleged irregularities involving Adani and his business dealings, said Ramesh.

Ramesh referred to the party’s “Hum Adani ke Hain” series, where 100 questions were raised about the alleged scams and the links between Prime Minister Narendra Modi and Gautam Adani.
He noted that the questions remain unanswered, reiterating the need for accountability in the matter.

The US prosecutors have charged Adani with deceiving investors by concealing information about his firm's solar energy project in India, which allegedly involved bribery.

Adani has been charged with securities fraud and conspiracy, according to an indictment unsealed on Wednesday. The case focusses on an agreement between Adani Green Energy Ltd. and another organisation to supply 12 gigawatts of solar power to the Indian government.

'BETRAYAL OF INDIAN INVESTORS'

Congress leader Pawan Khera described the allegations against Gautam Adani and his conglomerate as a “betrayal of Indian investors.”

Taking to X, Khera outlined the US charges, including claims that Adani’s group bribed Indian government officials between 2020 and 2024 to secure contracts. Citing media reports, he also pointed out that Gautam Adani personally met a government official to advance the scheme.

Khera referred to a March 2024 incident where the Adani Group allegedly misled the Bombay Stock Exchange and the National Stock Exchange, calling it a “grave violation of investor trust.”

He further highlighted a March 2023 FBI raid on the premises of Sagar Adani, Gautam Adani’s nephew, where electronic devices were seized as part of the investigation.

'SEBI NOT ABLE TO PROVE ANY CHARGES AGAINST ADANI'

Shiv Sena (UBT) leader Priyanka Chaturvedi criticised central probe agencies following US charges against Gautam Adani and others in an alleged bribery case linked to solar energy contracts.

Chaturvedi raised concerns about corporate governance and regulatory oversight in the country. “They talk about corporate governance, responsibility, and accountability. The industrialists should be asked to follow the rules and regulations, but even the agencies were defending him. The SEBI has not yet been able to prove charges against him,” she said, pointing to what she viewed as failures in ensuring accountability.

'BROUGHT DISREPUTE TO INDIA'

On US charges against Gautam Adani, AAP leader Sanjay Singh called for a probe against the industrialist. He said that the probe should be conducted by an investigation agency under the Supreme Court.

"Adani Group has brought disrepute to India. This is a very serious matter. The PM of India should come forward and answer this. All the pending matters against Adani should be probed by an investigation agency under Supreme Court monitoring, and all the corruption done by him, within and outside the country, should come out before the country and action should be taken against him," he said.

BJP DFENDS

BJP IT cell chief Amit Malviya responded sharply to the Opposition’s criticism regarding allegations involving Adani Green Energy and US-based Azure Power. He pointed out that the charges in the indictment are only allegations and emphasised, “The defendants are presumed innocent unless and until proven guilty.”

Malviya argued that the crux of the case concerns agreements to supply 12 GW of power to the Solar Energy Corporation of India (SECI), contingent on SECI securing power purchase agreements with state electricity distribution companies (SDCs).

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