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Modi sarkar economic reforms/governance performance thread

FischerTal

By FischerTal
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rkt.india Grand Master

rkt.india

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Anyone who saw the election coverage with their eyes open could see that the coverage modi got was extraordinarys.
Kejriwal and AAP also got extraordinary coverage leading to IAC movement and then Delhi election for first time. Did they throw money too? Same AAj Tak channels were making special episodes about Kejriwal, entering his home, showing his lifestyle, his upbringing, his ideologies. Did they get money from Kejriwal too? Media made a hero out of Kejriwal too. Dont think people even knew who Kejriwal was before that Anna Hazare dharna in Delhi. People knew about Anna Hazare, but Kejriwal took center stage only from there.
amiret Newbie

amiret

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lapsed tenders hurt make-in-india defence industry push

almost a year into his "Make in India" campaign, which aims to turn the country into a manufacturing powerhouse, not one large domestic weapons project has been awarded. Tenders for anything from air defence guns to surface-to-air missiles to transport planes have lapsed, defence ministry officials told Reuters. The tenders total around $15 billion according to a Reuters compilation of offers since early 2013. Executives cited unrealistic quality demands from a military short of planes, tanks and guns as a key reason for their reluctance to bid for projects. Complicating things further, the military doesn't want weapons from Indian firms with no track record in defence manufacturing, experts said.
Experts said one problem is that some military officers eye technology only available in the west, without understanding what Indian firms can produce. "The armed forces are reluctant to accept hardware that doesn't have a record in operational conditions. Indian companies have no track record," said Bharat Karnad at the Centre for Policy Research in New Delhi. Retired vice admiral Premvir Das added that to expect Indian companies to manufacture major defence platforms in the forseeable future is to "live in a dreamland".
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Khalpat Newbie

Khalpat

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http://www.ndtv.com/india-news/in-new-scheme-rich-temples-may-open-gold-vaults-for-pm-modi-report-753890?utm_source=ndtv&utm_medium=top-stories-widget&utm_campaign=story-3-http%3a%2f%2fwww.ndtv.com%2findia-news%2fin-new-scheme-rich-temples-may-open-gold-vaults-for-pm-modi-report-753890 In New Scheme, Rich Temples May Open Gold Vaults for PM Modi: Report
Mumbai/New Delhi: The two-century-old Shree Siddhivinayak temple in Mumbai devoted to Lord Ganesha bristles with close circuit cameras and is guarded by 65 security officers. It is one of India's richest temples, having amassed 158 kg of gold offerings, worth some $67 million or over Rs. 417 crore, and its heavily guarded vaults are strictly off limits. India is the world's biggest consumer of gold and ancient temples have collected billions of dollars in jewellery, bars and coins over the centuries. A few years ago, a treasure of gold worth an estimated $20 billion or over Rs. 1,24,750 crore was discovered in secret subterranean vaults in the Sree Padmanabha Swamy temple in Kerala. RelatedWill Defend Right and Liberty of Every Citizen, Says Prime Minister Narendra Modi in France 'Will Defend Right and Liberty of Every Citizen', Says PM Modi in France: Highlights 26/11 Mastermind Zaki-ur-Rehman Lakhvi Has Left Jail, at Undisclosed Location To help tackle India's chronic trade imbalance, PM Modi's government is reportedly planning to launch a scheme next month that would encourage temples to deposit their gold with banks in return for interest payments. The government would melt the gold and loan it to jewellers to meet the seemingly insatiable consumer appetite for gold and reduce economically-crippling gold imports, which accounted for 28 per cent of India's trade deficit in the year ending March 2013. India's annual gold imports of 800 to 1,000 tonnes could be cut by a quarter if temples decided to participate in the scheme, say government and industry sources. "We would be happy to deposit our gold to nationalised banks if the policy is beneficial, safe and earns good interest," said Narendra Murari Rane, chairman of the trust for the Siddhivinayak temple, portions of which are gold-plated. But a Mumbai-based gold merchant, who said he and his father had donated around 200 kg of gold to Siddhivinayak and other temples over the years, said it would be a sin for the temples to earn interest on the gold offered to the gods. "I make donations to God; not to any temple trust," the 52-year-old merchant said. Key to the government's plan will be the interest rates offered for gold deposits. A similar gold monetization plan launched in 1999 proved ineffective, in part because the interest rates offered on gold deposits were regarded by temple officials as too low. Under that scheme India's top lender the State Bank of India offers 0.75 per cent to 1 per cent, and only 15 tonnes of gold has been deposited so far. India raised the import duty on gold, the country's biggest non-essential import, and imposed other restrictions in 2013 after the current account deficit hit a record $190 billion. If India can cut imports, that would pressure gold prices that fell to a four-month low last month before recovering. Lower gold prices will help India cut its import bill. However, a successful gold monetization scheme could also expose the government to potential risks, if gold prices were to take off and depositors decided to withdraw at the same time. "There is going to be a lock-in period under the new gold monetizing scheme," said Sudheesh Nambiath, an analyst at precious metals consultancy GFMS. "Banks will have to replenish the stocks with imports later (if temples withdraw gold)."
Not sure people will agree.
Sachin=GOD Newbie

Sachin=GOD

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^fantastic idea. HUGE amounts is gold is just sitting there in temples even as we have to import so much of it every year. Use the gold from the temples and on top of that, make sure that the interest received by temples is used by them in public service (running charitable hospitals etc) rather than just depositing the amount back in banks. This way I guess people who donated gold to temples will also be satisfied.

Sachin=GOD Newbie

Sachin=GOD

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And while they are at it, open the vaults of the Padmanabhswamy Temple now. There is obviously lots of gold and other valuable stuff in there - sell all of it and use the money to build public utilities.

Khalpat Newbie

Khalpat

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Lets give the credit where it is due. You may agree or disagree with the policies but one thing everybody will agree this government is really dynamic and intentions are really clear atleast on economic front.

amiret Newbie

amiret

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Gold deposit schemes already exist , but they have not been popular because of low interest rates and minimum lock in period of 3 years. Tirumala Tirupati Devasthanams (TTD) has deposited 4,335 kg of pure gold under deposit with SBI, Corporation Bank and Indian Overseas Bank and deposited another 1800 Kilos last year. Industry analysts have been asking the Govt to eliminate the lock-in period so that depositors can trade their Gold bonds when liquidity is needed.
gs Newbie

gs

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And while they are at it' date=' open the vaults of the Padmanabhswamy Temple now. There is obviously lots of gold and other valuable stuff in there - sell all of it and use the money to build public utilities.[/quote'] Extend this scheme to the other religious boards and places too. Sell or securitize properties or wealth owned by Christian missionary organizations and the Waqf board.
Sachin=GOD Newbie

Sachin=GOD

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Extend this scheme to the other religious boards and places too. Sell or securitize properties or wealth owned by Christian missionary organizations and the Waqf board.
I'm not asking for Temple properties to be sold. And yes, if Churches/Waqf Board have gold etc which is just sitting there for decades then it should be sold. I really don't give a damn for religious sentiments in this case.
amiret Newbie

amiret

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Subramanian Swamy warns PM Modi about Rafael deal. April 10, 2015.

STATEMENT OF DR. SUBRAMANIAN SWAMY, PRESIDENT OF VIRAT HINDUSTAN SANGAM MADE IN NEW DELHI. I urge the Prime Minister not to finalize the Rafale Aircraft Deal with France. The deal originally was negotiated by the previous UPA Government. There are two major issues with the Rafale Aircraft Deal which if clinched would embarrass the BJP Government at the Centre. The first is that Rafale is a less fuel efficient aircraft and lacking in essential performance characteristics because of which no country in the world has agreed to buy these aircrafts. Some countries have cancelled contracts after signing an MoU with Dasault, the manufacturers, after carrying out a trial of the plane, for example, Switzerland. The Rafale performance of Libya and Egypt turned out to be worst of all the aircrafts which were deployed by the allies liberating the countries from tyranny. The second issue is that the present Rafael Deal negotiated was de-facto a privately negotiated deal between the wife of the former French President Ms Carla Bruni, who is an Italian with two Italian sisters of Ms Sonia Gandhi, namely Ms Anushka and Ms Nadia, and is a corrupt deal to the core. Dasault will go bankrupt if no country buys the Rafale and therefore if we want to oblige the French it is better to buy Dasault company itself rather than their planes, as it will be more beneficial and cost effective. If the Prime Minister for some other compulsion anyway decides to go ahead with the deal, then I will have no option but to approach the Court in a PIL to get it set aside. (SUBRAMANIAN SWAMY)
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gs Newbie

gs

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I'm not asking for Temple properties to be sold. And yes' date=' if Churches/Waqf Board have gold etc which is just sitting there for decades then it should be sold. I really don't give a damn for religious sentiments in this case.[/quote'] You probably don't, but the kind of blowback that this would create both on domestic and international fronts would be mighty difficult for any Indian govt to withstand. I don't think even Modi's "communal hindutva" BJP with all its majority has the cojones to do.
amiret Newbie

amiret

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4th Naxal attack in 3 days: in Chhattisgarh's Dantewada
Four security personnel were killed and seven injured on Monday after armed Maoists blew up a military vehicle in Chhattisgarh’s Dantewada district, in the fourth rebel attack in three days in the strife-torn Bastar zone.
LINK We hope the "Great Tweeter" will Tweet about it when he comes back from his international tour.
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