Showing posts with label Nirmala Sitharaman. Show all posts
Showing posts with label Nirmala Sitharaman. Show all posts

Friday, September 6, 2019

PMO to decide on how to use RBI's 1.76 Lakh Crore Wind-fall

by Harish Gupta, National Editor, Lokmat Group


PMO to decide on how to use RBI's  1.76 Lakh Crore Wind-fall

Harish Gupta

New Delhi, Sep. 5

Worried over fall in revenue collections due to economic slowdown, the Prime Minister’s Office (PMO) has pressed the pause button over utilisation of Rs 1.76 lakh crores wind-fall gain in its kitty.

Highly placed sources say that its not the Finance Ministry but the PMO that will take a final call on Rs 1.76 lakh crores received from the Reserve Bank of India (RBI) last week.

While the Opposition parties have alleged that the government will spend this money on meeting its rising fiscal deficit and unmanageable economic slowdown, the Finance Ministry has maintained a studied silence on the issue.

The RBI transferred a record dividend of Rs 1.76 lakh crores out of its Rs 10 lakh crores surplus funds on the recommendations of the Jalan committee report.
Sources aware of the goings-on in the government said that top officials of the finance ministry may shortly meet mandarins in the PMO soon to work out the modalities. The process has somewhat been delayed as the PMO is undergoing internal changes. With Principal Secretary Nripendra Mishra demitting office within the next one week and other six senior officials arriving in the PMO, things are settling down.

There is a thinking that the funds be put to use into stimulating the sagging economy and infrastructure spending rather than doling out bonanza to handful of sectors.
Union Finance Minister Nirmala Sitharaman said recently that the government was yet to decide how to utilise Rs 1.76 lakh crore. “I can’t talk about how to utilise it now. We will take a call and then let you know,” she had said while replying to a question at press conference in Pune. She held a marathon meeting with the Industries representatives yesterday and assured them corrective steps are underway.

The PMO's new team is busy preparing a blue print for reviving the economy and bridge the revenue shortfall and cut down on borrowings.
Ends

Tuesday, July 23, 2019

Amit Shah Takes the Centre Stage

by Harish Gupta, National Editor, Lokmat Group


Amit Shah Takes the Centre Stage
Calling the shots in Govt., Party & Parliament 

Harish Gupta
New Delhi, July 21



Union Home Minister Amit Shah may be number three in the Order of Precedence in the government. But the first time Union Minister & Member of Parliament is not only calling the shots in government but made a big mark in running the affairs in parliament too. No doubt, the absence of senior leader Arun Jaitley is felt by all. But Amit Shah has made an impact in no time with his quick decision making, no-nonsense style and straight forward approach. He is perhaps the only minister in the whole of government who speaks with authority leaving none in doubt that he derives it from none other than the PM. Amit Shah's writ runs in the party, government and now for  smooth running of Parliament too. The other day when the Opposition parties were creating a ruckus in the Rajya Sabha, Amit Shah conveyed to party managers that the house should not be adjourned for the day. Rather, the Opposition be tired out and adjournments be on hourly basis only. The strategy worked and the House ran smoothly after three adjournments.

When a few journalists covering the Home Ministry on a regular basis sought to know if their entry would also be restricted in North Block as was done by his counterpart Finance Minister Nirmala Sitharaman, Amit Shah shot back, “I am a large-hearted person. I don't impose such restrictions." No other minister would say this publicly. But Amit Shah doesn't minces words and believes in sending out a clear signal that he disapproves of such steps.
He is the first Union Minister in the Modi dispensation who ensured his two deputies to introduce various bills in both houses of parliament and even reply to debates. Amit Shah sat through the debates and intervened whenever required. But it was clear that he is promoting his juniors. Taking the cue, other senior ministers started doing the same now. Amit Shah even asked his juniors to reply to Parliamentary questions during the Question Hour. Both Ministers of state - Nityanand Rai or G Kishna Reddy - had not even dreamt of that they would be handling such key duties during their first term. The only time Amit Shah moved the motion was when Extension of President's rule in the state of Jammu & Kashmir was brought in the Parliament. Amit Shah is keen to solve the Kashmir & NRC issues and win West Bengal. He has made a mark during the first 50 days as Home Minister. If he is aggressive and straightforward, he loves to gossip and jokes in the Central Hall of Parliament too provided norms are followed by journalists.

Ends 

Monday, September 11, 2017

Fly on The Wall : Bitter battle grips Railway Board

by Harish Gupta, National Editor, Lokmat Group


A bitter battle has gripped the Rail Bhawan here ever since Ashwini Lohani was appointed chairman of the Railway Board in a mid-night coup. Lohani was brought by the PMO after A K Mittal quit in the wake of two consecutive railway accidents last month. While the Railway administration was still in the process of absorbing the shocking news of Mittal quitting, Railway Minister Suresh Prabhu also quit. But all hell broke when Lohani was brought to the Railway Board as its chairman. Lohani could not have been appointed as Chairman under the rules and procedures. Insiders say that rules were thrown to the winds. Rules state that unless an officer held the post of General Manager in the Railways, he cannot become a Member of the board or its chairman. A non-member can become chairman of the board. But the condition is that he must have an experience of working as GM in the Railways. Lohani was two ladder down in the seniority and yet he was made chairman straight. The insult to the injury was also in store as Lohani also superseded two highly competent and senior members of the Railway Board. The two members are Ravindra Gupta and Mohammad Jamshed who are bitter and contemplating quitting. The position of these two members has become untenable with Lohani's appointment. The new Railway Minister, Piyush Goyal is busy sorting out the grave issue as both of them reportedly threatened to quit. Goyal wants to resolve this anomaly as continued acrimony can take a turn for the worse. The internal trouble has cropped up at a time when the Railways is trying to overcome serious problems. No doubt, Lohani is an old Railway hand and a technical guy himself. He is reported to have impressed the PMO when he was made ITDC chairman. His appointment had raised eyebrows in the ITDC as well. But within no time, he got a big boost and brought as Chairman Air India.

Amit Shah's advice to Narain Rane

The BJP high command has conveyed to dissident Congress leader Narain Rane to keep patience and his entry is only a matter of time. BJP president Amit Shah had a meeting with him a couple of months ago where in principle decision was taken to admit the Ranes into the BJP. Amit Shah's philosophy is to admit leaders from other parties with an open arm and once they are in the BJP, they would be “reformed.” Shah is of the firm view that this is the only way to expand BJP in a short span and win Lok Sabha seats. This open arm policy is contrary to most of his predecessors who were rather slow in admitting leaders from other parties. But Amit Shah wants every influential leader to be part of the BJP. Therefore, he has conveyed to Rane that he would surely be admitted.

India Foundation calls the shots

What is common among Defence Minister Nirmala Sitharaman, Commerce Minister Suresh Prabhu, Minister of State for Civil Aviation Jayant Sinha and MoS External Affairs M J Akbar ? All of them are professionals and highly successful and their rise has been rather brisk. In the case of Nirmala Sitharaman, it has been phenomenal. But there is one more factor; all of them are key member of the India Foundation, a think tank founded by BJP general Secretary Ram Madhav. His focus is to ensure that BJP gets more Lok sabha seats in states where it didn't get numbers in 2014. The Think-Tank formally came into being early 2014 though Ram Madhav was working for Narendra Modi in Gujrat for a long time. Ram Madhav is considered a parallel power centre. There are as many as eight such think tanks floated by those associated with the RSS & BJP. But India Foundation and Vivekanand International Foundation are the two most powerful think tanks providing talented persons to the Modi government. Interestingly, Ram Madhav keeps a low profile and works from behind the scenes. The rise of Nirmala Sitharaman is being attributed to Finance Minister Arun Jaitley. But it is said that Ram Madhav is the key behind her success and worked hard to promote her at every stage. He prefers to handle security and international affairs apart from J&K and North eastern states.


The mystery of 'Old Notes' deepens as RBI counts

The mystery of “old notes” demonetized and deposited with banks deepened further after the RBI said: Rs 15.28 lakh crores in old notes out of Rs 15.44 lakh crores had been counted and final figure will be released later. This leaves only Rs 16000 crores which were not deposited with the RBI. But think of 'Old Notes' still lying with Nepal Rashtriya Bank and other neighbouring countries. The figure is stated to be over Rs 8000 crores. The RBI has yet to accept around Rs 7000 crores from Cooperative banks. Then, thousands and thousands of NRIs who made a bee-line outside the RBI branches failed to deposit old notes who came from all over the world as government changed rules at will. In addition, banned notes lying with the Income Tax, ED, Police in states and other agencies could not be deposited with the RBI either. Did India print more notes than notified ? No one has a clue. But everyone in the government is frightened if the old notes in the “pipeline” are allowed to be deposited.


Mamata wants Kejri in Mahagathbandhan

West Bengal Chief Minister Mamata Banerjee is pitching for the inclusion of Aam Aadmi Party into the grand alliance of 17 Opposition parties. Mamata wants Arvind Kejriwal to be part of the “Mahagathbandhan” as he is a force in Delhi and elsewhere. However, the Congress has puts its foot down and made it clear that there is no place for AAP in the front. Rather, the Congress leadership has cautioned Mamata Banerjee to keep away as Kejriwal is known for selling dreams. The Congress leaders sheepishly confessed how Kejriwal fooled Shiela Dixit saying that he will never float a political party and work for her victory in Delhi. But Mamata is unwilling to dump Kejriwal. Perhaps, Kejriwal has promised to campaign for Mamata and project her as Prime Ministerial candidate in 2019.

Monday, May 23, 2016

Seven Union ministers eyeing Rajya Sabha seats

by Harish Gupta, National Editor, Lokmat Group

Seven Union Ministers are in the race for 17/18 Rajya Sabha seats that the BJP is likely to win during the ensuing biennial polls due on June 11. The term of these seven ministers including one belonging to the TDP is expiring in July.