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Surjit Bhalla announces his resignation from PM’s Economic Advisory Council

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Surjit Bhalla announces his resignation from PM’s Economic Advisory Council

Surjit Bhalla has quit the Economic Advisory Council (EAC) to Prime Minister Narendra Modi earlier this month, he said on microblogging website Twitter today (Tuesday, Dec 11).

The announcement comes a day after Reserve Bank of India (RBI) Governor Urjit Patel’s sudden resignation following a prolonged spat with Narendra Modi government over the central bank’s autonomy and tussle over its reserves which the government wanted handed over to itself.

This makes it an unprecedented tally of five economists quitting: a dubious distinction for Modi government. Apart from the two above, the others are: Arvind Subramanian who was chief economic advisor, Arvind Pangariya who was vice chairman of Niti Ayog, and Raghuram Rajan who was RBI governor before Urjit Patel.

Announcing his resignation, Bhalla did not mention reasons for his leaving.

In the Twitter post about an election forecast article published in the Indian Express, Bhalla described his credentials as contributing editor, Indian Express, and consultant at Network18 Group. “I resigned as part-time member PMEAC on 1 December,” said his post.

Bhalla explained in a subsequent twitter post that he left the EAC because of other work commitments. “…I resigned from the EAC-PM and the reasons were also given – consultancy with CNN IBN and work on a book about Indian elections since 1952 and my resignation was effective 1 December when I joined CNN IBN,” said Bhalla.

Bhalla’s resignation was reported to have been accepted.

He was appointed as a member to PMEAC which is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically to the Prime Minister. The council is headed by another noted economist Bibek Debroy.

Bhalla, a Contributing Editor with The Indian Express IE), has been critical of the RBI keeping interest rates elevated and overestimating inflation expectations, said a report in IE.

In his column on December 1 on the recently released back series data on Gross Domestic Product, Bhalla, wrote: “I, along with others, also found it inappropriate for NITI Aayog to be directly involved in the presentation of statistical data by the CSO (Central Statistics Office).”

The data was released by the NITI Aayog and the CSO in a joint press conference on November 28, in which the government revised down the GDP growth rates for the 2006-2012 period. The new data showed that growth during the NDA government was higher than in the UPA period. Many economists criticised presence of NITI Aayog, which is chaired by Prime Minister, in the process of release of the GDP numbers. They argued that calculation of GDP back series being a technical exercise should have best left to the CSO.

Bhalla, who holds a PhD in economics from Princeton University, is also a senior analyst at the Observatory Group, a New York-based advisory firm. In his book ‘The New Wealth of Nations’ published last year, Bhalla argued that income inequality was declining in the world due to the spread of education.

2024 Lok Sabha Elections

PM Modi says Congress leaders consider themselves above Lord Ram

PM Modi slammed Congress during a rally in Chhattisgarh, ahead of the Lok Sabha elections 2024

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Prime Minister Narendra Modi slammed the Congress party for declining to attend the pran pratishtha ritual at the Ayodhya Ram temple on January 22 this year.

The prime minister said Congress leaders consider themselves above Lord Ram and denied invitation for Pran Pratishtha at Ram Temple, while speaking at a rally in Janjgir-Champa, Chhattisgarh. The PM question the people present at the rally that is it not a disrespect of Mata Shabri? Congress leaders inclination toward appeasement politics runs in their family.

For political appeasement, they won’t think twice about stealing the rights of Adivasis, the poor, and Dalits. Poor, young, and women are BJP’s top priorities, Modi said.

PM Modi criticized the Congress again during the rally for claiming that the BJP would alter the constitution.

The leaders of Congress recite the same old phrases whenever an election is about to happen, the PM said. He also said they claim that if the BJP wins power, it will renounce the constitution and abolish reservations. For how long will you continue selling lies?” he asked.

The prime minister continued saying that nobody can change the Constitution, even if Dr. Babasaheb Ambedkar were to come and insist on it, it wouldn’t happen.

Those in the Congress threaten to break Modi’s head. Nobody can harm Modi as long as the mothers and sisters of this county stands by him. These mothers and sisters are Raksha Kavach, Modi remarked.

The prime minister further attacked the Congress after Viriato Fernandes, the party’s candidate for South Goa, asserted that Goa was forced to adopt the Indian Constitution.

Referring to his conversation with Congress leader Rahul Gandhi ahead of the 2019 Lok Sabha elections, Fernandes said he had told him, when Goa was liberated in the year 1961, the Indian Constitution was forced upon us.

The prime minister said, Congress candidate from Goa says Constitution was forced upon Goans; is this not an insult of Ambedkar and Constitution.

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2024 Lok Sabha Elections

Amit Shah says neither Congress nor Trinamool chief Mamata Banerjee can interfere with CAA

Amit Shah revealed the BJP’s target for West Bengal and said they have set a target of winning 35 Lok Sabha seats from West Bengal.

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Union home minister Amit Shah on Tuesday said neither Congress nor Trinamool Congress chief Mamata Banerjee can interfere with the Citizenship Amendment Act (CAA). He was speaking at the Karandighi rally in West Bengal where he also made the prediction as to how many seats BJP will win in the Lok Sabha elections in West Bengal.

The union home minister asked the masses to cut the money culture. Amit Shah revealed the BJP’s target for West Bengal and said they have set a target of winning 35 Lok Sabha seats from West Bengal. In 2019 Lok Sabha elections the BJP had won 18 out of 42 seats in West Bengal. He asked Mamata Banerjee, what problem will she have if the Buddhist and Hindu refugees from Bangladesh get citizenship in India?

Shah further added if the people of West Bengal want to stop infiltration in the state, then they will have to make Narendra Modi the Prime Minister of India again. He said if the people of West Bengal want to free Bengal of violence, stop infiltration in the state, give citizenship to refugees, to stop disrespecting mothers and sisters of the state as it happened in Sandeshkhali, then  only way is to make Narendra Modi the Prime Minister.

Amit Shah said that PM Modi had sent Rs 7 lakh crore to West Bengal but the TMC indulged in corruption. He said one can see the houses of Trinamool Congress leaders; 10 years ago they used to live in a hut, moved on cycle and now all of them have 4-storey houses and move around in big cars. He added this is the money of people of West Bengal.

The Citizenship Amendment Act (CAA), will make it easier for non-Muslim refugees from Afghanistan, Pakistan and Bangladesh to get Indian citizenship, was enacted in 2019. But the rules were notified in March this year by the Centre.

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2024 Lok Sabha Elections

Prime Minister Narendra Modi says listening to Hanuman Chalisa under Congress rule is a crime

PM Modi was addressing an election rally in Rajasthan’s Tonk-Sawai Madhopur, on a day as India celebrates Hanuman Jayanti.

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Prime Minister Narendra Modi on Tuesday hit out at the Congress and said even listening to Hanuman Chalisa has become a crime under the party’s rule. The Prime Minister also said it was difficult to follow one’s faith under the party and accused it of hatching a deep conspiracy to snatch people’s wealth and distribute it among selected few people in the society. PM Modi was addressing an election rally in Rajasthan’s Tonk-Sawai Madhopur, on a day as India celebrates Hanuman Jayanti.

PM Modi said in a state like Rajasthan where people chant Ram-Ram, Congress banned Ram Navami. He reffered to the redistribution of wealth remarks he had made during a rally in Rajasthan’s Banswara on Sunday and said it has angered the Congress and INDI Alliance so much that they have started throwing abuses at Modi everywhere.

The Prime Minister said that Congress has written in their manifesto that they will survey the wealth. He said the Congress leadership had said in a speech that an X-ray of wealth will be done. He added when Modi exposed the secret then the hidden agenda came out and this has left the people trembling. PM Modi further added that the Congress party has played with the Constitution of the India.

He said when the Constitution was drafted, reservations based on religion were opposed, so that Scheduled Casts (SC), Scheduled Tribes (ST) and Other Backward Classes (OBC) could get protection. He said former Prime Minister Dr Manmohan Singh had said that Muslims have the first right to the country’s resources.  The prime minister further added Congress’s ideology has always been of appeasement and vote bank politics. He said stones would still be pelted in Jammu and Kashmir, and enemies would still be cutting off the heads of India’s soldiers had Congress been in power.

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