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Hindenburg report seems targeted: Sharad Pawar backs embattled Adani Group

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Senior Opposition leader and Nationalist Congress Party (NCP) has come out in support of the embattled Adani Group, saying that the damning report published by US-based short seller Hindenburg Research against the conglomerate “seems targeted.”

In an interview, Pawar said that the Adani issue was blown out of proportion in the Parliament which led to a complete washout of the second leg of the Budget Session as hardly any business was conducted.

The senior leader said that whenever such an issue is given too much importance, the cost is borne by the country’s economy and as such it seems the report against the Adani Group was “targeted”, adding that it seems that a single individual business group of a country was targeted to further an agenda.

In complete contrast to his other Opposition allies, including the Congress, who have been adamantly demanding a Joint Parliamentary Committee (JPC) probe into the Adani issue, the veteran politician in an interview with NDTV said that he does not agree with other allies on this matter.

Pawar said the Supreme Court had already ordered a probe into the Hindenburg report by setting up a committee consisting of a retired apex court judge, an economist, an administrator and an expert—who have been directed to conduct an inquiry within a specified time frame.

He added that the JPC probe had no significance anymore since the Supreme Court has ordered an inquiry and cannot be swayed unlike a JPC which would consist majorly of ruling party members, and as the probe is being asked against the ruling party itself, a parliamentary probe has a lesser chance of finding the truth.

On being asked what the intent of Congress was behind constantly pushing for a JPC probe, Pawar said he wasn’t certain about his ally’s intent but perhaps they wanted the issue to stay in the media limelight as a JPC probe’s proceedings would be reported daily unlike the Supreme Court committee’s inquiry.

Pawar claimed that perhaps someone wants to bury the truth by making issue fester for months.

The NCP supremo also voiced his disagreement with Congress leader Rahul Gandhi’s “Adani-Ambani” way of targeting large business conglomerates, saying that it was “meaningless” and reminded him of the “Tata-Birla” narrative of the past.

Opposition led by the Congress have been demanding a Joint Parliamentary Committee (JPC) probe into the damning Hindenburg report that led to rout in shares of Adani Group since its release in January this year.

Adani Group endured over $120 billion in market losses- nearly half of the conglomerate’s estimated value—since the damning report released by US short-seller Hindenburg Research.

In its critical report, Hindenburg Research accused the Adani Group of indulging in improper use of offshore tax havens and stock manipulation while also raising concerns about high debt and the valuations of seven listed Adani companies.

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Government set to table One Nation, One Election bill in Lok Sabha on December 16

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Parliament Winter Session: Lok Sabha speaker warns opposition, No-Confidence motion against Rajya Sabha Chairman

The stage is set for a major legislative push by the central government as two bills related to the ambitious “One Nation, One Election” initiative are scheduled for introduction in the Lok Sabha on Monday, December 16.

Union Law Minister Arjun Ram Meghwal is expected to present The Constitution (129th Amendment) Bill and The Union Territories Laws (Amendment) Bill, marking a significant step towards implementing simultaneous Lok Sabha and state legislative assembly elections.

On Thursday, the Union Cabinet, chaired by Prime Minister Narendra Modi, gave its nod to the constitutional amendment bill that seeks to align elections for the Lok Sabha and state assemblies. This decision underscores the ruling Bharatiya Janata Party’s commitment to its long-standing agenda of electoral synchronization, aimed at reducing the frequency of polls and associated costs.

The Cabinet also approved a supplementary bill to amend specific provisions related to three Union territories with legislative assemblies—Delhi, Puducherry, and Jammu & Kashmir. This aligns their governance framework with the overarching constitutional amendments proposed under the “One Nation, One Election” initiative.

The constitutional amendment bill aims to streamline the electoral calendar by establishing a legal framework for conducting Lok Sabha and state assembly elections simultaneously. However, the government has, for now, opted to exclude local body polls, such as those for municipalities and panchayats, from this framework. A high-level committee chaired by former President Ram Nath Kovind had earlier suggested a phased approach to include local elections in the future.

The concept of “One Nation, One Election” has been a focal point in political discourse, with proponents arguing it will enhance governance by reducing electoral disruptions and fostering policy stability. Critics, however, have raised concerns about the logistical and constitutional challenges of synchronizing diverse electoral cycles across India’s federal structure.

This legislative development will undoubtedly dominate parliamentary discussions as political parties prepare to deliberate on the feasibility and implications of reshaping India’s electoral landscape.

The introduction of these bills is expected to spark robust debate, with the government emphasizing the potential benefits of reduced administrative burdens and streamlined governance, while opposition parties scrutinize its impact on India’s democratic fabric.

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At Congress meet, Kharge blames internal bickering, statements against own party leaders for election losses

Kharge noted that the atmosphere was in the Congress’ favour during the elections but pointed out that just the atmosphere being in its favour does not guarantee victory.

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Congress president Mallikarjun Kharge on Friday asserted that the internal bickering in the party and statements against own party leaders were among the reasons for the loss of the grand old party in the recently concluded Assembly elections in Maharashtra and Haryana.

Noting that statements against own party leaders harm the party a lot, Kharge said that tough decisions will have to be taken, accountability be fixed and shortcomings removed by learning lessons from the election results.

In his address during the Congress Working Committee meeting at the AICC headquarters, Kharge highlighted the EVMs issue and said that the EVMs have made the electoral process suspect, stressing it is the constitutional responsibility of the Election Commission to ensure free and fair elections in the country.

“Unless we fight elections unitedly and stop making statements against each other, how will we be able to defeat our opponents politically?” the Congress president said.

“Therefore, it is important that we strictly follow discipline. We have to remain united under all circumstances. The party also has the weapon of disciplining. But we do not want to put our comrades in any bondage,” he said.

“Therefore, everyone needs to think that a victory of the Congress party is our victory and a defeat is our defeat. Our strength lies in the strength of the party,” the Congress president said.

He also noted that the Congress made a comeback with new enthusiasm riding on its performance in the Lok Sabha polls and said the election results of three states were not as per the party’s expectations.

“INDIA parties formed the government in 2 out of 4 states. But our performance was below expectation. This is a challenge for us in terms of the future,” he said.

“We need to immediately learn from the election results and correct all our weaknesses and shortcomings at the organisational level. These results are a message for us,” he said.

Kharge noted that the atmosphere was in the Congress’ favour during the elections but pointed out that just the atmosphere being in its favour does not guarantee victory.

“We will have to learn to convert the atmosphere into results. What is the reason that we are not able to take advantage of the atmosphere?” he said.

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BJP says it stands for credibility of promises under PM Modi, Congress for crisis

Trivedi mockingly questioned whether Kharge was truthful in his statements made the previous day, implying that his critiques of the BJP were a reaction driven by pressure to reconcile his earlier remarks.

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The BJP said on Saturday that it stood for the credibility of promises made under Prime Minister Narendra Modi’s leadership, while labeling the Congress party as one suffering from a crisis of credibility, intensifying their ongoing rhetorical conflict over unfulfilled electoral pledges.

BJP spokesperson Sudhanshu Trivedi said that the ruling party has expanded its welfare initiatives, including health insurance, free food grains, and cash transfers to farmers, emphasising a strategy focused on wealth creation followed by equitable distribution as the Indian economy has grown over the last decade.

“We believe in the creation of wealth and its distribution. The Congress fosters corruption and depletes wealth,” he stated, referencing numerous unfulfilled promises made by Congress-led governments across various states.

Following Mallikarjun Kharge’s remark labeling “Modi ki guarantee” as a cruel joke after Modi seized Kharge’s guidance on budgetary constraints in state poll announcements, the BJP launched new accusations.

Trivedi mockingly questioned whether Kharge was truthful in his statements made the previous day, implying that his critiques of the BJP were a reaction driven by pressure to reconcile his earlier remarks.

Trivedi highlighted several accomplishments of the Modi government, including the construction of the Ram temple, the abrogation of Article 370, the building of over 14 crore homes for the impoverished, the establishment of more than 51 crore Jan Dhan accounts, and a firm stance against terrorism from Pakistan, to demonstrate the government’s fulfillment of its commitments.

He noted that Kharge, having witnessed notable leaders like PV Narasimha Rao and Pranab Mukherjee manage economic challenges effectively, is now observing the Congress party struggling under the influence of urban Naxals due to Leader of Opposition in the Lok Sabha Rahul Gandhi.

Addressing Kharge’s criticisms on various issues, Trivedi pointed to data from the Employees’ Provident Fund Organisation (EPFO) indicating a rise in account holders from 11 crore to 25 crore over the past decade.

He also referenced significant infrastructure projects, such as the construction of homes for the poor, 74 new airports, and an impressive pace of 37 kilometers of road built per day, claiming that these initiatives have created substantial employment opportunities.

“India is now ranked third in auto manufacturing and second in mobile phone manufacturing; if anyone is unable to recognize the country’s progress, there is a profound deficiency in their perspective,” asserted the BJP spokesperson.

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