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Hasty GST implementation, noteban to adversely affect GDP: Manmohan

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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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Delhi LG VK Saxena directs probe into remarks against Kangana Ranaut by Congress leader Supriya Shrinate

The Delhi Police will investigate who was behind the said social media post and whose mobile phone was used for the purpose.

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Delhi lieutenant governor Vinai Kumar Saxena today sought a detailed probe from Delhi Police commissioner Sanjay Arora in relation with the alleged defamatory social media post made by Congress’s Supriya Shrinate against actor-turned-politician Kangana Ranaut.

Reportedly, BJP candidate from New Delhi Bansuri Swaraj had given a complaint to the LG seeking probe and registration of an FIR against Shrinate for outraging the modesty of a woman. Subsequently, the Delhi LG has forwarded the complaint to the Delhi Police Commissioner, directing a scientific investigation in the matter and initiation of legal action, if necessary.

Reports said that the Delhi Police will also investigate who was behind the said social media post and whose mobile phone was used for the purpose. A major controversy erupted on Monday after an objectionable post from Supriya Shrinate’s social media handle against Kangana Ranaut, who has been announced as the BJP candidate from Himachal Pradesh’s Mandi.

Responding to the remarks, Kangana Ranaut said that they must free the daughters from the shackles of prejudices and must rise above the curiosity about their body parts. She added that people must refrain from using sex workers’ challenging lives or circumstances as some kind of abuse or slur. She concluded that every woman deserves her dignity. As the controversy intensified, the Congress leader asserted that someone else had posted the objectionable content from her handle. 

Meanwhile, the Election Commission on Wednesday issued a show cause notice to Congress leader Supriya Shrinate for her derogatory remarks against Kangana Ranaut. The Election Commission observed that the remarks are undignified and in a bad taste. The election body asked the Congress leader to respond to the commission by Friday. In the notice, the Election Commission stated that the statements made by the leader is prima facie violative of the Model Code of Conduct (MCC) being in force ahead of the Lok Sabha elections. 

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Bollywood actor Govinda joins Maharashtra Chief Minister Eknath Shinde’s Shiv Sena

Govinda on his official induction in the party by CM Eknath Shinde said he is joining Shiv Sena and it is a blessing from God. He said he thought he would not enter politics again. Govinda said Mumbai looks cleaner and better now.

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Bollywood actor Govinda joined Maharashtra chief minister Eknath Shinde’s Shiv Sena on Thursday ahead of the upcoming Lok Sabha elections in Maharashtra. In 2004 Govinda contested from Mumbai North Lok Sabha on a Congress ticket and earned the nickname of a giant slayer as he defeated BJP’s Ram Naik. He resigned from the party and said that he had decided to take a break from politics.

Govinda on his official induction in the party by CM Eknath Shinde said he is joining Shiv Sena and it is a blessing from God. He said he thought he would not enter politics again. Govinda said Mumbai looks cleaner and better now. He said his parents had a good relationship with Shiv Sena founder Balasaheb Thackeray.

Shiv Sena leader Krishna Hedge met the Bollywood actor at his residence in Juhu. Maharashtra CM Eknath Shinde said the actor’s joining the Shiv Sena does not come with a rider. Govinda said whatever work is assigned to him, he will do it to the best of the ability. He said he was a part of the 14th Lok Sabha and has returned to politics after 14 years.

Speaking about his role in politics, the actor said he would transform the film city of Mumbai. He did not reply when he was asked about contesting elections. Govinda said everybody has seen the same level of progress in Maharashtra in the last 2 years, as it has been seen in the country in the last 10 years. He said he is going to focus on the beautification of the state and work towards the growth of art and culture.

Rajya Sabha MP Milind Deora welcomed Govida into the party and said he has known the veteran Bollywood actor for almost 25 years. He recalled the 2004 election and said both of them had fought elections together.

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To browbeat, bully others is vintage Congress, says PM Modi after lawyers express concern over attempts to undermine judiciary

Lawyers, including Harish Salve and Bar Council chairperson Manan Kumar Mishra, wrote to CJI DY Chandrachud, alleging that a vested interest group is trying to put pressure on the judiciary and defame courts, particularly in cases of corruption involving politicians.

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PM Narendra Modi on Thursday launched a scathing attack on the Congress party after more than 600 lawyers and some bar associations across the country wrote to the Chief Justice DY Chandrachud, expressing concerns over attempts to undermine the judiciary’s integrity using political and professional pressure.

Taking to social media platform X, PM Modi wrote that to browbeat and bully others is vintage Congress culture. He recalled that five decades ago, the party itself had called for a committed judiciary, adding that they shamelessly want commitment from others for their selfish interests, but desist from any commitment towards the nation. He concluded that no wonder, 140 crore Indians are rejecting them.

Prime Minister Narendra Modi’s comments followed after lawyers, including Harish Salve and Bar Council chairperson Manan Kumar Mishra, wrote to CJI DY Chandrachud, alleging that a vested interest group is trying to put pressure on the judiciary and defame courts, particularly in cases of corruption involving politicians.

The lawyers said the tactics used by the vested interest group are damaging the courts and threatening democratic fabric. They stated that Chief Justice Chandrachud’s leadership is crucial in these tough times and the Supreme Court should stand strong, adding it is not the time to maintain dignified silence.

Without naming, the letter also targeted a section of lawyers and alleged they defend politicians by day and then try to influence judges through the media at night. Furthermore, they claimed that some elements are trying to influence who the judges are in their cases and spread lies on social media to put pressure on the judges to decide in a particular way.

In addition, the All Manipur Bar Association had also written to CJI DY Chandrachud highlighting the need to speak out against underhanded attacks on the judiciary on Wednesday. In its letter, the bar association said that it was extremely concerned about recent trends where vested interest groups were trying to defame the courts with frivolous logic and stale political agendas.

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