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Hasty GST implementation, noteban to adversely affect GDP: Manmohan

Published

8 years ago

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Manmohan Singh

[vc_row][vc_column][vc_column_text]Former Prime Minister’s earlier prediction of demonetisation bringing GDP growth down by 2 per cent had recently come true

With his prediction of demonetisation pulling down India’s GDP growth rate by two per cent having recently come true, former Prime Minister Dr Manmohan Singh has once again warned against the adverse impact of noteban coupled with effects of the hasty implementation of the Goods and Services (GST) regime on the country’s economy in the near future.

Singh, an economist of international repute, has warned that the hasty implementation of the GST regime that was rolled out in July along with the continuing effect of demonetisation will hit the country’s massive informal and small scale sectors which collectively account for nearly 90 per cent of India’s job creation.

Speaking to CNBC TV18, on Monday, the former Prime Minister said: “Both demonetisation and the GST have had some impact (on the GDP growth)… Both will affect the informal sector and the small-scale sector. These sectors are today responsible for 40 per cent of GDP.”

Singh added that “because the GST has been put into practice in haste, there are many glitches now coming up. This is bound to affect GDP growth.”

The senior Congress leader’s comments come in the wake of recent government data that showed the GDP growth slipping to a three-month low at 5.7 per cent for the April-June quarter – a decline that has been blamed on effects of demonetisation and the GST by a large section of economists and business leaders across the country.

Although the ruling government has been singing praises for Prime Minister Narendra Modi’s decision of October last year to declare the Rs 500 and Rs 1000 currency notes as no longer legal tender – a sudden announcement that flushed out 86 per cent of India’s currency from the market – the slump in the GDP had forced even Union finance minister Arun Jaitley to admit that the new tax regime had impacted the country’s manufacturing sector.

As businesses destocked inventories ahead of the GST kick-off from July 1, gross value added (GVA) in manufacturing declined to a low of 1.2 per cent, from 10.7 per cent, year on year. Gross Domestic Product (GDP) growth in the first quarter of 2017-18 was lower than 6.1 per cent of the preceding one and 7.9 per cent in the same period last fiscal.

Jaitley had said that the fall in GDP growth was a “matter of concern”, although he expressed hope that the economy will bounce back to a 7 per cent growth once effects of GST implementation on de-stocking ease in the current quarter.

Singh, however, doesn’t share Jaitley and the Modi government’s optimism. Shortly after demonetisation was implemented, the former Prime Minister had, while speaking in the Rajya Sabha, called the move an “organised loot and legalised plunder”. In the aftermath of the GST rollout too, Singh had told a meeting of the Congress Working Committee – the apex decision making body of the principal Opposition party that the economy was “running on just one engine of public spending”.

While his prediction of a 2 per cent fall in GDP growth rate due to demonetisation has been proven true, much to the chagrin of the Modi government, it remains to be seen whether the Centre will pay heed to the former PM’s advice now.[/vc_column_text][/vc_column][/vc_row]

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EC extends SIR deadlines for 6 states, no change for West Bengal

The Election Commission has extended the SIR exercise in six states and a Union Territory, while West Bengal and three others received no extension as the voter roll update process progresses.

Published

7 hours ago

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December 11, 2025

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The Election Commission has revised the timeline for the ongoing Special Intensive Revision (SIR) of electoral rolls in six regions, while keeping the schedule unchanged for West Bengal, Goa, Lakshadweep and Rajasthan. The SIR exercise, aimed at removing inaccuracies and updating voter lists, will now continue for longer in Tamil Nadu, Gujarat, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, and the Andaman and Nicobar Islands.

Revised dates for voter roll revision

According to the Election Commission, the enumeration period has been extended as follows:

  • Tamil Nadu and Gujarat: Till December 14
  • Madhya Pradesh, Chhattisgarh, Andaman and Nicobar Islands: Till December 18
  • Uttar Pradesh: Till December 26

The publication of draft rolls will now be:

  • December 19 for Tamil Nadu and Gujarat
  • December 23 for Madhya Pradesh, Chhattisgarh, Andaman and Nicobar Islands
  • December 31 for Uttar Pradesh

Meanwhile, the SIR period concluded today in Goa, Lakshadweep, Rajasthan and West Bengal, with no extension granted.

As West Bengal heads towards a crucial election expected early next year, the voter list update process has become part of a broader political narrative between the NDA and Opposition parties, especially after the Bihar polls.

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India News

Mamata Banerjee urges women to resist if voter names are deleted during SIR review

At a Krishnagar rally, Mamata Banerjee alleged misuse of the SIR voter list review and urged women to stand firm if their names were removed.

Published

9 hours ago

on

December 11, 2025

By

Mamata Banerjee

West Bengal Chief Minister Mamata Banerjee, sharpening her attack on the ongoing Special Intensive Revision (SIR) of voter lists, called on women to stand up against any attempt to remove their names from the electoral roll. Addressing a gathering in Krishnagar, she alleged that the process was being misused to target voters ahead of elections.

Mamata accuses BJP of trying to intimidate women voters

Banerjee questioned the removal of names from the voter list under the SIR exercise, asserting that mothers and sisters of the state should not allow such actions to go unchecked. She said women possess the strength and the everyday tools used at home, urging them to be ready if their rights were undermined.

She alleged that attempts would be made to influence the electoral process by bringing police from outside the state and using fear tactics. Banerjee added that during elections, efforts were often made to divide people and misuse money power.

Reaffirming her stance on secularism, she said she wanted to see whether the women of Bengal or the BJP were “more powerful” in this fight.

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Andhra Pradesh High Court orders anti-corruption probe into Tirupati donation theft case

Andhra Pradesh High Court has ordered the CID and ACB to file an FIR and conduct a coordinated probe into the TTD Parakamani theft case, including scrutiny of a Lok Adalat settlement and the complainant’s suspicious death.

Published

11 hours ago

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December 11, 2025

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tirupatitirumala

The Andhra Pradesh High Court has directed the Criminal Investigation Department (CID) and the Anti-Corruption Bureau (ACB) to initiate criminal action and register an FIR in the Tirumala Tirupati Devasthanams (TTD) Parakamani (donation box) theft case. The court instructed both agencies to continue investigating the alleged theft, the suspect’s assets, and the earlier settlement reached at a Lok Adalat.

Court seeks deeper scrutiny and coordination among agencies

The High Court emphasised that the probe must also examine how the case was taken to mediation and settled through a compromise. It ordered the CID and ACB to share information with each other and, if necessary, with the Income Tax Department and the Enforcement Directorate (ED) to ensure a comprehensive investigation.

Taking note of the unexplained death of the complainant, Y Satish Kumar—then part of the TTD vigilance team—whose body was found near a railway track in Anantapur district on November 14, the court asked the CID to submit his post-mortem report in a sealed cover within three days.

The next hearing is scheduled for December 16.

Senior TTD officials questioned; theft traced to April 2023 incident

The CID has already examined several former officials, including ex-TTD chairmen B Karunakar Reddy and YV Subba Reddy, and former executive officer AV Dharma Reddy.

The case began on April 29, 2023, when CV Ravi Kumar, an employee at a mutt linked to TTD, was allegedly caught stealing $900 inside the Parakamani hall—the temple’s donation-counting centre. While a local police case was initially filed, it was soon shifted to a Lok Adalat, where a compromise settlement was reportedly reached. Under this arrangement, Ravi Kumar is said to have offered seven properties worth about ₹40 crore in Tirupati and Chennai as restitution to TTD.

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