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PM Narendra Modi Defends Currency Spike in an Emotional Speech, says it was done for the Benefit of People
New Delhi, November 22, 2016: In an emotional speech to parliament members from his ruling BJP, Prime Minister Narendra Modi on Tuesday vehemently defended the demonetisation move, saying it was done for the benefit of the people.
Addressing the BJP Parliamentary Party meeting here, Modi urged the members to counter what he called was “misinformation” being spread by the opposition parties on the demonetisation of Rs 500 and Rs 1,000 currency notes.
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“We came to power for the poor, not for our own sake,” the Prime Minister said in his speech, according to Parliamentary Affairs Minister Ananth Kumar.
“The poor, the lower middle class and middle class have been suffering since the last 70 years due to corruption and black money.”
“This decision is in favour of the people and against black money, corruption and counterfeit currency. Our target is fight a long battle against all these,” said Modi, according to Ananth Kumar.
According to sources, the Prime Minister said that demonetisation decision is just a “beginning of government’s crusade against black money and corruption”, and such type of actions will be continued.
Sources also said that Prime Minister asked party leaders not to use the word “surgical strike” for demonetisation.
“Don’t call it a surgical strike. Only a soldier can do that,” a source quoted Modi as saying at the meeting.
Incidentally, BJP President Amit Shah, in his first reaction after demonetisation scheme was announced, had dubbed the move as surgical strike on black money and corruption.
The BJP Parliamentary Party also passed a resolution backing the government’s decision to spike the high value currencies. The resolution was moved by Home Minister Rajnath Singh.
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Ananth Kumar told the media: “The Parliamentary Party unanimously passed a resolution on the historical demonetisation decision of November 8.”
“The Parliamentary Party unanimously welcomes the historic announcement made by PM withdrawing the legal tender value of currency notes of Rs 500 and Rs 1,000 and compliments the Prime Minister, the government and the Reserve Bank Of India,” the resolution said.
“The parliamentary party is supremely confidant that this bold initiative will achieve the intended objectives cutting off financial support to terrorists and extremists organisations, address the problem of counterfeit currency besides checkmating unaccounted money in the system and serving as a serious warning to those indulging in corruption,” it added.
It also acknowledged the initiative as a national project of cleansing the system and of great significance that will usher in behavioural and attitudinal changes encouraging honesty in personal and public life, particularly political life.
“This will benefit the poor and the common man in several ways. Over the last 70 years, common man has resigned to grudgingly accept the foul ways of these in power and close to power, to exploit the system and make ill-gotten wealth,” it said.
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The resolution condemned “malicious efforts” of some political parties which are “desperate to provoke violence and chaos” having been rattled by the widespread support of the people to the government’s initiative and bent upon disrupting the proceedings of Parliament on one pretext of the other”.
The BJP Parliamentary Party also hailed the common man for patience despite facing hardships.
“They are queuing for a better India,” the resolution said. (IANS)
Super model and actress Hailey Bieber said she is lucky to have a husband like Justin Bieber, refuting rumours of the ace singer not treating her properly. Hailey was speaking at singer Demi Lovato's podcast '4D With Demi Lovato', dailymail.co.uk reported.
Talking about her popstar husband and rumours around their marriage, Hailey said: "I think one of the biggest things is you have to know what the truth is behind everything. You know, there's so many narratives that float around about me, about him, about us together." She addressed the rumours point blank as she said: "There's one big fat narrative that goes around that's like, 'Justin is not nice to her, and that he mistreats her', and I'm just like, it's so far from the truth, and it's the complete and utter opposite."
Hailey went on to set the record straight about Justin, who she married in 2018. She said: "I really am lucky to say I'm with someone who is extremely respectful of me, who makes me feel special every single day. So when I see the opposite of that, I'm just like, 'Huh?' And everybody around who knows us personally would say the same thing." (IANS/ MBI)
Keywords: Hailey Bieber, Justin Bieber, husband, respectful, truth, married
Among the Tamil epics written during the Sangam age, only a few survived to this day. Manimegalai is one such. It is written as a sequel to the Sillapadikaram, taking the story forward of Kovalan and Madhavi's daughter, Manimegalai. The Sillapadikaram is about the injustice of the Madurai kingdom in the execution of Kovalan, which turned Kannagi, his wife into a goddess seeking vengeance for her husband's death. Kovalan, before his death, has an affair with a court dancer, Madhavi, and his daughter, Manimegalai, is said to begin a different tradition among the Tamils.
The epic, written by Sattanar, introduces Buddhism to Dravidian culture, something that has been alien to them for years. Manimegalai is the protagonist, who flees constantly from the pursuit of Chola prince Udhayakumara, and tries to lead an ascetic life. Throughout the plot, Buddhist tenets are used to avoid the culmination of a love-story. Manimegalai is believed to be the anti-love story sequel to the Sillapadikaram.
A complete work of Tamil epic written by hand on leaves Image source: wikimedia commons
The Sillapadikaram was written by a Jain monk, Illango Adigal, and Sattanar, uses the sequel to question Jainism. It is almost a political battle between two new religions competing for a place in a predominantly Hindu society. Parts of Manimegalai even go to the extent of opening ridiculing Jain practices and beliefs.
Critics of Tamil literature have stated that while the Tamil epics have great poetic significance, they are inferior to other world epics when it comes to clearly portraying religious affiliations. In fact, they refer to the newer religions with an infant's perspective. Some scholars have found that Sillapadikaram has more ethical substance than its sequel, but in and of itself, despite being written by a Jain monk, reads like Hindu poetry (Subhramanya Aiyar, 1906).
Keywords: Manimegalai, Sillapadikaram, Tamil Epic, Sattanar, Ilango Adigal, Chola kingdom, Sangam Age, Buddhism
The Covid-19 pandemic could act as an inflection point to shift India's growth model from being consumption driven to investments-led. In its Ecoscope report, Motilal Oswal Financial Services, said: "With Covid-19 hurting India's 'Household' (HH) and 'Government' sectors adversely, the continuity of strong consumption growth is in question."
"On the contrary, with listed companies' financial positions improving and an uptick in household investments in the Real Estate sector (called physical savings), the narrative of investment-led recovery is gaining momentum." The report prescribed that various economic participants - households, governments, listed companies, and unlisted corporates -- to increase their fixed asset investments in the immediate future based on their financial position.
The Covid-19 pandemic could act as an inflection point to shift India's growth model from being consumption driven to investments-led. | Photo by Fusion Medical Animation on Unsplash
At present, the listed and unlisted corporate sector accounts for only about half of total investments in India. The 'HH' sector including unincorporated enterprises accounts for 35-40 per cent in India's investments, while the remaining 12-13 per cent is contributed by centre and states governments. Besides, the report cited that demand environment is expected to remain subdued due to weak financial position of 'HH' and government sector.
"Despite household investments picking up strongly in 2HFY21, given that Indian households bore the maximum brunt of Covid-led losses in CY20 (and CY21), we believe household spending would remain subdued over the next few years." It further pointed out that unless 'HH', 'Unlisted Corporate', and government sectors can improve their financial positions -- leading to a demand uptick -- a strong revival in investments seems challenging. (IANS/ MBI)
Keywords: India, covid, pandemic, growth, household, government, investment