Govt to take more steps to turnaround economy, says FM

December 14, 2012

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New Delhi, December 14: Finance Minister P Chidambaram today said the government will take some more steps in the next few weeks to revive the economy and boost investment sentiments.

"I am confident that the steps we have taken, and some more steps that we will take in the next few weeks, will help turn the Indian economy around," he said addressing the 'Delhi Economics Conclave' here.

In the recent past, government has taken a number of measures, including opening up of FDI in multi-brand retail and hiking foreign investment cap in the aviation sector, to boost economic growth and restore investor confidence.

Besides yesterday, the Union Cabinet cleared setting up of Cabinet Committee of Investment to fast-track large project entailing investment of over Rs 1,000 crore.

"It is too early to say whether the measures have begun to bear fruit, although it is our expectation that they will do so," Chidambaram said.

Concerned over sticky retail inflation, the Minister said: "There is no reason at all to become complacent".

While headline inflation has moderated to 7.45 per cent in October, the retail inflation remains high at 9.90 per cent.

The economic growth in the first half of the fiscal fell to 5.4 per cent, against 7.3 per cent in the corresponding period a year ago. The growth in 2011-12 fell to a nine-year low of 6.5 per cent. In the current fiscal RBI expects it to be around 5.8 per cent.

Stressing that the present challenge is different from the one faced in 2008, Chidambaram said: "The present challenge calls for bold and innovative measures".

While in 2008-09 imports had reduced considerably due to fall in international crude oil prices, the situation at present is different as, while exports are declining, imports continue to remain high mainly on account of crude and gold.

He said with rapid globalisation of economy, external sector is becoming more vulnerable.

The Finance Minister also asked Asian G20 member nations and Russia to increase resource base of Asian Development Bank for development of the region.

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June 11,2024

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New Delhi: Indian universities and higher education institutions will now be allowed to offer admissions twice a year on lines of foreign universities with the University Grants Commission giving a go ahead to the plan, UGC chief Jagadesh Kumar said.

The two admission cycles will be July-August and January-February from the 2024-25 academic session.

"If Indian universities can offer admission twice a year, it will benefit many students such as those who missed admission to a university in the July-August session due to a delay in the announcement of board results, health issues, or personal reasons," Kumar said.

"Biannual university admissions will help students maintain motivation since they do not have to wait one full year to be admitted if they miss admission in the current cycle. With biannual admissions in place, industries can also do their campus recruitment twice a year, improving employment opportunities for the graduates," he added.

The UGC chief explained that biannual admissions will also enable the higher education institutes (HEIs) to plan their resource distribution, such as faculty, labs, classrooms and support services, more efficiently, resulting in a better functional flow within the university.

"Universities worldwide already follow a biannual admission system. If Indian HEIs adopt the biannual admission cycle, our HEIs can enhance their international collaborations and student exchanges. As a result, our global competitiveness will improve, and we will align with the global educational standards," Kumar said.

"If HEIs adopt biannual admissions, they need to work on administrative intricacies, good planning for increased use of available resources, and providing seamless support systems for the smooth transition of students admitted at dissimilar times of the year. HEIs can maximize the usefulness of biannual admissions only when they sufficiently prepare faculty members, staff and students for the transition," he added.

Kumar, however, clarified that it will not be mandatory to offer biannual admissions for universities and those HEIs that have the required infrastructure and teaching faculty can utilise the opportunity.

"Offering biannual admissions will not be mandatory for the HEIs, it is the flexibility that UGC provides to the HEIs which want to increase their student intake and offer new programmes in emerging areas. To be able to admit students twice a year, HEIs must make suitable amendments to their institutional regulations," he said. 

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June 8,2024

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New Delhi: The Congress Working Committee passed the resolution that party MP Rahul Gandhi should be appointed as the Leader of the Opposition in Lok Sabha, sources said today.

Rahul Gandhi won the Lok Sabha elections from Raebareli in Uttar Pradesh and Wayanad in Kerala.

"All members have given their proposal to the party president. Rahul ji has requested some time to think. However, we want him to stand as strong Leader of Opposition," said All India Mahila Congress president Alka Lamba.

After the CWC meeting, Congress MP Kumari Selja said, "It was the CWC's wish that Rahul Gandhi be elected the LoP..."

Senior Congress leader and newly elected MP from Alappuzha KC Venugopal said "CWC unanimously requested Rahul Gandhi ji to take the responsibility of the leader of the opposition in the Lok Sabha."

The CWC resolution praised Rahul Gandhi for his efforts in the election campaign.

"Former Congress President Rahul Gandhi has to be singled out largely because of the Bharat Jodo Yatra and the Bharat Jodo Nyay Yatra that he designed and led. Both these Yatras that reflected his thinking and personality were historic turning points in our nation's politics and instilled hope and confidence in lakhs of our workers and crores of our voters. Rahul Gandhi's election campaign was single-minded, sharp and pointed and more than any other individual it was he who made the protection of our republic's Constitution the central issue in the 2024 elections. The PaanchNyay-Pachees Guarantee programme which resonated so very powerfully in the election campaign was the outcome of Rahulji's yatras in which he listened to the fears, concerns and aspirations of all people, especially youth, women, farmers, workers, Dalits, Adivasis, OBCs and minorities," it said.

The meeting of the extended Congress Working Committee was held in the national capital on Saturday. The meeting was attended by Congress Parliamentary Party chairperson Sonia Gandhi, Congress chief Mallikarjun Kharge, Congress leaders Rahul Gandhi, Priyanka Gandhi, Manish Tiwari, DK Shivakumar, and Revanth Reddy among others.

Speaking after the CWC meeting, Congress Rajya Sabha MP Pramod Tiwari said, "Definitely he (Rahul Gandhi) should become (LoP in Lok Sabha). This was the request of our working committee. He is fearless and courageous."

Earlier in the day, several party leaders voiced their demand that Rahul Gandhi should take over the key role.

Speaking on the same, Telangana Chief Minister Revanth Reddy said that this is the demand of 140 crore Indians.

"Our demand is the same as that of 140 crore Indians. Rahul Gandhi has to take the position as the leader of the Opposition. Rahul Gandhi has been fighting for women and the unemployed," he said.

Congress MP Sukhjinder Singh Randhawa who won the Lok Sabha election from Gurdaspur said that Rahul Gandhi is someone who can reply to the Prime Minister in the Parliament and hence he should assume the position of LoP.

"We will play the role of a strong Opposition in the Parliament. Yes, we want the country to get such a face who can reply to the Prime Minister. I think the entire country wants this," he said.

After the Lok Sabha Polls, the Congress has emerged as the second-largest party in the election and improved its tally to 100, from 52 in the 2019 Lok Sabha poll.

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June 6,2024

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Chandigarh: Newly-elected BJP MP Kangana Ranaut on Thursday was allegedly assaulted by a woman constable of the Central Industrial Security Force (CISF) at the Mohali airport when she was on her way to Delhi, officials said.

The constable has been suspended and an FIR has been lodged against her, they said.

The CISF constable allegedly assaulted Kangana while frisking her at the airport before she boarded her flight.

The Bollywood actor was elected to Lok Sabha from Mandi Constituency in Himachal Pradesh where she defeated her nearest Congress rival by over 74,000 votes.

Speaking on the incident, Kangana said that she is "safe" and alleged that there is rise in "terror and violence" in Punjab.

In the video posted on X, Kangana said, "I am getting lot of calls from my wellwishers and media... I just want to say that I am safe."

"The incident took place while I was going through security check at Chandigarh airport. While leaving, there was a lady in other cabin who was security personnel of CISF. She waited for me to cross her, then came and hit me on the side of my face and started abusing me. When I asked her why is she doing this, she said that she supports farmers' protest," Kangana said in the video.

"I am safe but my only concern is that how do we handle the rising violence and terrorism in Punjab," she asked. 

Detained

CISF constable Kulwinder Kaur posted at Chandigarh airport was immediately detained and held in the commandant office at the airport while the police started recording her statements to file an FIR.

Kulwinder Kaur was reportedly angry with actor Kangana for her derogatory remarks made on the farmers protest.

In 2021, an FIR was filed against Kangana after she referred to farmers' protests (Kisan Morcha) as a Khalistani movement and the Sikh community as Khalistani terrorists.

"Khalistani terrorists may be arm twisting the government today... But let's not forget one woman... The only woman prime minister ne inn ko apni jooti ke neeche crush kiya tha (the only woman PM who crushed them under her shoes). No matter how much suffering she caused to this nation... she crushed them like mosquitoes at the cost of her own life... Lekin desh k tukde nahi hone diye (but she did not let the nation get divided)," Kangana posed on her Instagram story.

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