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Nitish’s Bihar development claim false: Pappu Yadav

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By NewsGram Staff Writer

New Delhi: “The tall claims of development in Bihar by Chief Minister Nitish Kumar are false and he has done nothing for the state except helping corrupt officials and mafias during his tenure”, Jan Adhikar Party chief Rajesh Ranjan alias Pappu Yadav, the controversial former MP who was last year acquitted in the murder of a CPI-M leader, has said.

pappu-yadav“Nitish has done no development and whatever he claims has no truth in it. Corruption has hit a new high in the state, there is no law and order at all,” said Yadav.

“He played the chief minister who always helped the corrupt bureaucrats and mafias and due to which he ran the government for 10 years. The people of Bihar have suffered due to his political ambitions,” added Yadav, who was previously expelled from Lalu’s RJD.

Asked about the number of seats he was planning to contest in the upcoming state polls, Yadav, once considered a close aide of Lalu Prasad, said, “We have not decided on the exact number of seats we want to contest on. We just want to serve the people of Bihar no matter how many seats we manage to fight on.”

“I have made a party not do petty politics but to bring a change in the state that has been looted by earlier governments. I have always stood for the people of Bihar and will continue to do that till my last breath,” he added.

Talking about former chief minister Jitan Ram Manjhi, Yadav said he was used by Lalu Prasad and Nitish Kumar for their ends. He said they had humiliated Manjhi.

On the reports of him aligning with Samajwadi Party and Nationalist Congress Party (NCP) and floating a third front to challenge the NDA and the RJD-JD(U)-Congress grand alliance, he said: “I have no ideological differences with SP chief Mulayam Singh-ji. I have been a Samajwadi Party MP from Purnia.

“We have worked together in the past as well. If everything goes well, we can form the third front. Nothing is finalized as of now.”

However, NCP leader Tariq Anwar said that the SP-NCP alliance was finalized and that Pappu Yadav was ready to align with them.

The alliance may see Anwar as its chief ministerial candidate.

Yadav said if voted to power he would address the law and order problems at the earliest and ban the sale of liquor across the state within seven days.

He also expressed his disappointment with the ‘Bahubali’ tag that he has been given.

“Just because I come from a royal Yadav family and serve the youth of Bihar, people call me a Bahubali. It disappoints me a lot. I don’t know why people have given me this tag. I just want to ask is there not criminal cases against other top leaders? Aren’t there cases against Amit Shah? Why don’t people call him a Bahubali,” he asked.

Asked about his controversial comment on people from Manipur, he said: “I have said nothing wrong. It disturbs me when people from northern India, especially Bihar and Uttar Pradesh, are targeted in Manipur. We cannot have different treatment for people in the same country.”

“If the situation does not improve or violence against Bihar migrants continues in Manipur, we will forcibly pull out Manipuri passengers from trains running through Bihar and send them back to Manipur,” Yadav had said.

Yadav won thrice from Purnia – 1991, 1996 and 1999 – and won the 2004 Madhepura bypolls.

Last year, citing lack of evidence, the Patna High Court acquitted Yadav in a case related to the killing Communist Party of India-Marxist leader Ajit Sarkar in May 1998.

His wife, Ranjita Ranjan, is also a former MP.

(With inputs from IANS)

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Government Should Focus on More Effective Growth-Oriented Policy Framing in India

The caveat is that cash flow mismatches must be avoided. For instance, excessive debt servicing costs during production ramp-up periods when incoming cashflows for a utility business are low can render even suitable projects unviable.

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Allen, who co-founded Microsoft with Bill Gates in 1975, announced in 2011 that he had formed the privately funded Stratolaunch. Pixabay

It is crucial for the government to keep pushing towards more effective growth-oriented policy framing and implementation in India.

The focus must be on creating both “hard” and “soft” infrastructure while facilitating effective debt usage. Hard infrastructure must see a continuation of the progress seen in areas such as highway construction and the gradual increase in participation of deep-pocketed institutional investors in owning assets. Soft infrastructure pertains to assets that help create demand for hard infrastructure assets.

Airline businesses would be an example of soft infrastructure that is so essential for robust demand for airport assets. Ensuring that both hard and soft infrastructure asset creation pick up further pace is vital.

The need to push along with creating new hard infrastructure assets such as airports, highways, energy generation & distribution etc. is evident given the trend of higher consumption. The critical aspect that needs to be kept in mind is a “sustainable” path of creation is much more likely to deliver long-term benefits than a rapid approach with pitfalls along the way.

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One of the crucial linkages between efficient creation and operation of both hard and soft infrastructure is optimal debt usage.Pixabay

In layman’s terms, effective project planning, efficient project implementation and prudent usage of debt funding in the hard infrastructure creation process will be of vital importance.

In the recent past, active participation by capital-rich large institutional investors in the highways and renewable energy sector in India shows the demand for such assets. That said, the two Toll-Operate-Transfer (TOT) highway auctions by the National Highways Authority of India (NHAI) are symbolic that investors will be aware of both asset price and quality. While the first TOT auction saw a winning bid that was much higher than expected, the second auction had to be cancelled since the highest bid wasn’t where the NHAI expected the bid price to be. The key takeaway is that investors would be discerning regarding asset quality and pricing. The government must make sure that the investment momentum sustains while learning a few lessons from the TOT auctions.

Creating soft infrastructure is as important as creating hard infrastructure. Soft infrastructure are assets that perhaps do not fit the traditional definition of infrastructure assets but are essential pillars of economic growth, primarily as soft infrastructure such as airlines create demand for hard infrastructure assets such as airports.

The recent turmoil in the airline sector further emphasises the need to create policies that help boost the sector. While it is true that any industry is subject to the travails of the business cycle, and this is especially true for airline businesses, it is also essential that all steps from a policy perspective are taken to ensure that the sector can thrive. A vibrant airline sector translates into greater usage for airport assets, thereby boosting the demand for airport infrastructure. Higher demand for airport infrastructure from the investment community can hopefully translate into a robust infrastructure creation pipeline for the sector.

One of the crucial linkages between efficient creation and operation of both hard and soft infrastructure is optimal debt usage. It is important to note that debt in itself is only as good as its usage, implying that prudent use of debt for businesses delivers value for the ecosystem. On the contrary, excessive debt usage, especially for businesses unsuitable for debt usage can lead to results that aren’t suitable.

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Therefore, debt usage within the context of both the cashflow profile of the industry and cashflow matching is an essential cog in the wheel to ensure economic expansion. Pixabay

The assertion that “capital structure risk must be inversely proportional to business risk” is one that merits attention. The statement mentioned above implies that debt is more useful for businesses that have access to steady cash flows as opposed to companies that have higher variability of cash flows. So, in general, a utility business would be more suitable for debt usage than say a retail business. The caveat is that cash flow mismatches must be avoided. For instance, excessive debt servicing costs during production ramp-up periods when incoming cashflows for a utility business are low can render even suitable projects unviable.

Also Read: New York Takes Drastic Steps to Prevent Spread of Measles Outbreak

Therefore, debt usage within the context of both the cashflow profile of the industry and cashflow matching is an essential cog in the wheel to ensure economic expansion. Measures such as effective bankruptcy regulations and prudent lending that ensure better debt usage must be encouraged even further.

The linkage between hard infrastructure, soft infrastructure and optimal debt usage is an essential one especially in the context of India’s need to expedite infrastructure creation, boost economic growth and create jobs. A renewed focus on infrastructure building and the linkages is the need of the hour. (IANS)