Beware! Modi tracking money trail
As the number of those Indians who are giving up their Indian citizenship touching an all-time high in 2022, the Modi government has asked concerned ministries to look deeper into the issue. If 1.20 lakh Indians gave up citizenship to settle abroad in 2011, the number almost doubled to 2.25 lakhs in 2022. What is worrying the government is that rich Indians are buying citizenship and settling abroad rather than investing in their own country. It is not just high-skilled individuals and students giving up their Indian citizenship but a large number of rich Indians are “buying” nationalities elsewhere. If reports emanating from the Finance Ministry are any indication, a list of 100-odd individuals has been prepared who opted to settle in Dubai and Mauritius among other tax haven countries along with their suspected ill-gotten wealth. Since these two countries are extremely friendly to PM Modi, the government will soon initiate a process to seek their presence back in India without many legal hurdles. These 100-odd persons may be brought back to face prosecution in 2023-24. This will send a strong signal before the 2024 Lok Sabha polls to the electorate that the Modi government has not abandoned its action against black money. The Indian government is aware that deporting Indians from the USA or other western democracies is not an easy task. Therefore, the focus is on extremely friendly countries to deport such wanted persons. Modi wants to show-case his big achievement on this score. A record 17 lakh Indians have opted to settle down abroad giving up Indian citizenship since 2011.
A funny SEBI probe
The SEBI has launched
a probe following the US-based Hindenberg Research's self-confessed
short-seller report in Adani companies shares. The probe, as per
reports, is aimed at finding out who all are behind the massive
sell-off in Adani shares eroding their wealth and ranking of the
entire group. Gautam Adani was worth 20 lakh crores on January 24
this year and Hindenburg Research's allegations erased over Rs
13 lakh crore in combined market capitalization (m-cap). But the
question is why the SEBI did not step in when the Adani
Enterprises shares were zooming up 4000% from 2021 to 2022 within 18
months. Why should SEBI probe reasons behind the fall in February
2023 and woke up only after the Hindenburg Research
surfaced? After all, the Modi government brought a highly
professional woman entrepreneur from the private sector,
a first in SEBI's history in 17 years, to reform the regulator.
Madhabi Puri Buch took charge as chairman on
1 March 2022 and is known for her no-nonsense approach. It was
expected of SEBI to launch a probe when shares prices of group
companies rose alarmingly high and no one raised a finger. No mutual
fund manager, no regulator, no watchdog or no professional worth a
salt raised a question when prices were rising since 2020. Even the
LIC was on a buying spree in group companies. Experts say that such
major jerks have to be faced by those companies who go global to
raise funds from abroad to expand their businesses. They maintain
that the turmoil in Adani shares' massive fall can not bring Lehman
Brothers' moment in India.
Priyanka from Rae Bareli !
Decks seem to have been cleared for Priyanka Gandhi Vadra to enter into an electoral fray from Rae Bareli in the 2024 Lok Sabha polls. Sonia Gandhi signaled during the AICC session at Raipur that she may not be part of electoral politics expressing her satisfaction of the outcome of Bharat Jodo Yatra. Insiders in the Congress say that she may not electoral fray in 2024 polls. But she may have the option to enter the Rajya Sabha if she wants to retain her 10 Janpath bungalow. She has to be a Member of Parliament if she wants to retain this bungalow. Sonia's statement at Raipur was well crafted and did not indicate in any way that she will bid adieu to politics.
Tejashwi's Mission impossible
Bihar Chief Minister Nitish Kumar has the burning ambition to become the Prime Ministerial candidate of all Opposition parties. This was perhaps the only reason he decided to part company with the BJP and tie the knot with RJD and Congress again. But he has been repeatedly denying that he has any desire to be the joint candidate for the PM's post of the Opposition parties in 2024 to dislodge authoritarian forces. In order to woo the Congress he has been on record that there can be unity worth a salt without the principal Opposition party coming on board. Insiders in Nitish Kumar's cotrie say that he has deputed Deputy Chief Minister Tejashwi Yadav to talk to all Opposition parties and persuade them to evolve a consensus around his name for the PM's post. Yadav has been traveling state Capitals in his mission Impossible as no one is willing to trust Nitish Kumar after his 360 degree turn, not once but twice. Tejashwi met Arvind Kejriwal in Delhi, K Chandrashekhar Ramarao in Hyderabad and others. But none have committed support to Nitish's Mission. The Congress has clearly said that any unity hasto be led by Congress. For Nitish, grapes are sour.
