Nasheman News : Prime Minister Narendra Modi and BJP President Amit Shah on Tuesday lashed out at the opposition, with Modi berating the Congress for never having the will or intention to end corruption, and Shah dismissing the January 19 rally of opposition leaders in Kolkata as a “gathbandhan” (alliance) of power-seekers keen on serving their own interests.
Addressing a gathering in Varanasi on the occasion of the Pravasi Bharatiya Diwas, Modi said his government has in the last four-and-a-half years succeeded in ending pilferage of public welfare schemes which successive Congress governments since Independence never intended.
Without naming Rajiv Gandhi, Modi said a former Prime Minister had famously said that of the 100 rupees that the Central government doles out for public welfare, only 15 rupees reach the beneficiaries with the rest 85 per cent leaked through corruption.
“It was an admission of a fact, of a system that the party which ruled for so long had given to the country. But even during its later rule of 10-15 years, the party never tried to stop this pilferage. The middle class taxpayer sincerely kept paying taxes and the loot of 85 per cent continued,” Modi said.
“Now I will tell you the present situation. Using technology, we have completely ended this 85 per cent pilferage. If we had not changed the system, the loot would have continued. This could have been done earlier, but there was no intent, no will,” he said.
Modi averred that in the last 4.5 years, his government has disbursed 5.78 lakh crore rupees or 80 billion dollars under various schemes through direct benefit transfer to the beneficiaries’ bank accounts.
He said if the old system had been allowed to continue, 4.91 lakh crore rupees would have leaked through corruption.
Modi said his government identified and cleaned 7 crore fake beneficiaries who existed only on paper.
Speaking at a party rally in northern West Bengal’s Malda, Shah said the opposition leaders who gathered at the Brigade Parade Ground rally only wanted a “majboor” (helpless) government so that they could “indulge in corruption”, which was not possible under the “majboot” (strong) government of Modi.
“All these leaders of the ‘mahagathbandhan’ (grand alliance) want a loose and helpless government in the country, so that they can indulge in corruption. In contrast, we want a strong government, which can teach a lesson to Pakistan,” Shah said, launching the party’s Lok Sabha poll campaign in the state.
Shah asked the crowd whether they wanted a “majboor” government or a “mazboot” government. As the crowd rooted for a strong government, Shah said: “Who can give a strong government? Only (Prime Minister) Narendra Modi can give a strong government, and none else.”
Rubbishing talks of “gathbandhan”, Shah said: “It is only an alliance of power-seekers and those only interested in serving their own interests.”
“What will they do for the country? The sole agenda of the alliance is to remove Modi.
“We say remove poverty, corruption, unemployment, illiteracy, they say remove Modi. To eradicate these ills, you (the people) have to ensure Modi returns to power, because this weak alliance of leaders won’t be able to deliver,” he said.
Targeting West Bengal Chief Minister Mamata Banerjee, who had organised the mega rally of anti-BJP opposition parties at the Brigade Parade Ground on Saturday, Shah said: “Mamata Di, even if you gather 25 leaders, and they hold each others’ hands on the stage, Narendra Modi can’t be removed. Hundred crore Indians are standing rock solid behind Modi.”
Shah also mocked at the prime ministerial ambitions of the various opposition leaders present at the Brigade Parade Ground rally.
“There were 23 leaders on the dais, nine of them are prime ministerial aspirants. Nine PM candidates on one stage! There is a big queue,” he said, tongue in cheek.
He said in contrast the Bharatiya Janata Party-led National Democratic Alliance (NDA) has only one leader.
“We have only one leader. The entire NDA stands rock solid under the leadership of Narendra Modi,” he said.
Archives for 2019
Karnataka seer laid to rest with state honours
Nasheman News : Amidst a sea of humanity, Karnataka’s iconic Lingayat seer Shivakumara Swami was on Tuesday laid to rest with state honours in the Siddaganga Mutt after about 10-lakh people paid homage to his mortal remains here.
After a three-round gun salute by the state police as a mark of respect, playing of the National Anthem and sounding of bugles by a music band, the seer’s frail body clad in saffron robes was lowered in the ground in a sitting posture as per the customs in the Mutt’s newly-built temple.
The 111-year-old popular and influential seer of the powerful Lingayat community died on Monday in the Mutt after protracted illness.
Though ceremonies related to the last rites began earlier in the day with the purification of the final resting place and special rituals, the last journey began at 5.00 p.m in a flower bedecked wooden chariot from the open ground in the Mutt where Swami’s body was kept in a glass showcase for public viewing since Monday afternoon.
According to Mutt’s head priest M.N. Chandrashekharayya, Swami had wished to be buried in the temple, as it was located facing the Vedic-cum-Sanksrit school in the heart of the Mutt.
“The body has been buried in the 6-by-6 feet dug up area in the Rudrakshi mantap, with about 1,000kg of sacred ash, 900kg of salt, 50kg of river sand and one sack of herbal (Bilva) leaves,” a Mutt’s official told reporters.
Junior seer Siddalinga Swami of the 600-year-old Mutt performed the last rites, amid chanting of the Vedic hymns and religious mantras of Shaivas by about 50 priests.
About 100 seers and swamis of various Lingayat and Vokkaliga Mutts from across the state were present on the occasion along with thousands of the seer’s devotees from all over the country.
As the temple premises could not accommodate more than 100 people inside, the last rites, including seer’s burial, was beamed live on giant screens erected in and around the Mutt for viewing by thousands of people.
State Chief Minister H.D. Kumaraswamy handed over the Tricolour the seer’s body was draped with to Siddalinga before the last rites.
Baba Ramdev, former Prime Minister H.D. Deve Gowda, Union Minister D.V. Sadananda Gowda, state Deputy Chief Minister G. Parameshwara, state Home Minister M.B. Patil, state BJP’s unit President B.S. Yeddyurappa and former Congress chief ministers Siddaramaiah and S.M. Krishna were among the several prominent leaders present on the occasion.
Elaborate security arrangements were made around the Mutt and about 3,000 police personnel were deployed in the town to ensure peaceful movement of people for the last glimpse of the seer and divert vehicular traffic from the Mutt area.
Defence Minister Nirmal Sitharaman flew to Tumakuru, about 70km northwest of Bengaluru, in a military helicopter from the state capital and paid her respects to the seer by laying a floral wreath on behalf of the President, Prime Minister and the Union Government.
Chants of “Swamiji ki jai” and “Bharat Ratna beku” (we demand Bharat Ratna for Swami) by hundreds of devotees and students of the Mutt’s schools rent the air.
Hometown of missing Argentine footballer prays for his safe return
[Nasheman news] Buenos AiresResidents of the small agricultural town in northeastern Argentina where footballer Emiliano Sala grew up gathered for prayers after learning that he was one of two people aboard an aircraft that went missing over the English Channel.
Daniel Ribero, president of local football club San Martin de Progreso, where Sala played as boy, told EFE that the day held “a lot of uncertainty” for residents of Progreso.
“We went from a moment of euphoria when he signed with Cardiff City to this totally unexpected situation. We are trying to process it,” he said on Tuesday, reports Efe news.
The single-turbine PA 46 Malibu aircraft carrying Sala from Nantes, France, to Cardiff, Wales, disappeared from radar screens at 8.23pm Monday some 24km (15mi) north of the island of Guernsey, police in the British crown dependency said.
Cardiff City, who play in the Premier League, signed the 28-year-old striker from Ligue 1 side FC Nantes for a club-record 15 million pounds ($19.4 million).
The plane, belonging to Cardiff City’s owner, was on its way back to the Welsh capital after Sala’s quick trip to Nantes to bid farewell to his former teammates.
Ribero described Sala as a humble and low-key person and recalled seeing the player when he returned to Progreso in 2017 for the 100th anniversary of San Martin and again last year for a barbecue during the 2018 World Cup.
Sala joined San Martin as a 6-year-old and remained with the club until he was 15, when he went to France and began the professional career that brought him to Nantes.
“In 100 years of the club’s history, he is the first player from San Martin de Progreso to go so far,” Ribero said.
Hundreds of Progreso residents spontaneously gathered to pray for Sala after hearing the news Tuesday morning, among them was Rita Rinaldi, one of Sala’s teachers at the local school.
India shares Kartarpur Corridor crossing point coordinates with Pakistan
Nasheman News : India on Tuesday shared with Pakistan the coordinates of the Kartarpur Corridor crossing point along the International Border with Pakistan to enable Sikh pilgrims to visit Gurdwara Kartarpur Sahib in Pakistan.
“Pursuant to the decision taken by the government of India on November 22, 2018, to expeditiously realise the long pending proposal to establish Kartarpur Corridor, India has today (Tuesday) shared the coordinates of the zero point (crossing point) of the corridor along the International Border with Pakistan,” said an External Affairs Ministry statement.
“India has also proposed two set of dates, February 26 and March 7, 2019, for the visit of Pakistan delegation to New Delhi to discuss and finalise the modalities so that Indian pilgrims can visit the holy Gurdwara Kartarpur Sahib using the corridor at the earliest,” it stated.
The Union Cabinet in November last year decided to develop the Kartarpur Corridor from Gurdaspur in Punjab to the International Border to facilitate pilgrims’ passage to Gurdwara Kartarpur Sahib in Pakistan as part of the 550th birth year celebrations of the founder of Sikhism, Guru Nanak Dev, later this year year.
Later that month, Pakistan Prime Minister Imran Khan performed the ground-breaking ceremony to develop the corridor in the presence of Indian Ministers.
According to reports, in December, Pakistan issued 14 key recommendations to India on the Kartarpur Corridor to facilitate visa-free pilgrimage by Indian Sikhs to the holy gurdwara.
Centre red-flags 11 recommendations for appointment as HC judges
Nasheman News : The Centre has recently red-flagged a host of recommendations for the appointment of judges to high courts with the top court collegium deciding not to press some of them and remitting others to the Delhi, Punjab and Haryana and J&K high courts, according to the Supreme Court collegium.
In two cases relating to appointment of judges to Delhi High Court from among the lawyers, the top court collegium has deferred the decision by two to three weeks.
The top of the list is Punjab & Haryana High Court, followed by Delhi High Court and the High Court of Jammu and Kashmir.
The collegium on January 16 remitted back to the Punjab and Haryana High Court the names of seven lawyers out of 11 that the High Court had recommended on November 24, 2017 for appointment as high court judges.
The recommendation for the appointment of 7 lawyers as High Court judges was considered by the top court Collegium on September 4, 2018 when it was decided to defer it for more inputs.
On January 16, the top court collegium after assessing their “merit and suitability” decided to remit their names back to the High Court.
Similarly, for the appointment of advocates as judges of Delhi High Court, the High Court collegium had on October 13, 2017 recommended four names out of which the top court collegium deferred a decision on two and remitted two to the High Court.
In August 2017, the J&K High Court collegium had recommended three lawyers for appointment as judges of High Court.
In the case of one, the top court collegium decided to recall its April 6, 2017 recommendation for his elevation as HC judge.
However, in case of other it asked the Centre (Department of Justice) to “furnish specific information in detail on the basis of which the proposal for elevation has been referred back for reconsideration by the collegium.”
14 die in fire on ships with Indian, Turkish crew off Russia
Nasheman News : At least 14 people have died in a major fire that broke out on two Tanzanian-flagged ships, both carrying Indian and Turkish crew, in the Black Sea, Crimea Prime Minister Sergei Aksyonov said on Tuesday, triggering fears that the fatalities may include Indians.
The Crimean and Russian authorities, however, did not identify any of the victims in the Monday night horror near the Kerch Strait that separates Crimea and Russia.
The Mumbai-based National Union of Seafarers of India told IANS that they were aware of the casualties but had no information about how many Indians, if any, had perished.
Preliminary information said the fire erupted due to the failure of a pump being used to transfer fuel between the two vessels – Candy and Maestro – in violation of security regulations, Russian state news agency TASS reported.
The two ships had a total of 32 crew members including Turks, Indians and a Libyan intern.
According to TASS, Candy had a crew of 17 — eight Indian nationals and nine Turks while the Maestro carried seven Indians, seven Turks and the Libyan.
“… We currently have information about 14 dead sailors… Other sailors have not been delivered to hospitals yet,” the Crimean leader said.
The Indian embassy in Moscow was in touch with the agencies in Russia to get more information, the External Affairs Ministry said in Delhi.
A spokesman from Russia’s Federal Agency for Maritime and River Transport said that 12 people had been rescued and there were no chances of finding any more survivors.
“The fire on ships continues… It will not be extinguished until all the gas burns out,” the spokesman said.
Officials said that Russian rescuers were trying to reach sailors who jumped into the waters to avoid the fire.
Severe weather conditions prevented rescue ships from bringing victims to the shore for medical treatment, RT News reported. One of the vessels was a liquefied natural gas carrier and another one was a tanker.
Maritime traffic was not affected by the incident and navigation through the Kerch Strait is still open, the Director of the Crimean Sea Ports said.
Authorities in the Crimean city of Kerch said they were ready to receive the victims.
The crew members were sailing in “neutral waters” in the Black Sea when the incident occurred, reports said.
The Kerch Strait is a focus of tension between Russia and Ukraine. In November, Russian border guards seized three Ukrainian naval vessels near the narrow channel, which links the Black Sea with the Sea of Azov.
The strait holds strategic importance for both sides. It is an important economic lifeline for Ukraine that allows ships leaving the port city of Mariupol to access the Black Sea.
It is also the the closest point of access for Russia to Crimea, a peninsula Moscow annexed in 2014.
Except Uttar Pradesh, Karnataka, 2019 will be a repeat of 2014 : Arun Jaitley
Every General Election has its own script. The script is dictated by the prevailing political environment in the country. The nature of the political battle for 2019 is unfolding itself. India’s opposition has a two-fold strategy, firstly, negative anti-Modi agenda and secondly, to combine as many political groups together so as to take the best advantage of the electoral arithmetic.
Anti-Modi campaign
A negative campaign works when there is a strong anti-incumbency either against the government or against the leader. Anti-incumbency is a process by which the government of the day loses an election and the opposition wins by default. Unhappy people vote a government out. When there is a comfort level with the government and its leader, a set of more satisfied people vote a government back.
It is obvious that the level of satisfaction with Pradhan Mantri Narendra Modi is very high. If that weren’t so, where was the need for multiple disparate forces to come together against him? It is only the fear of his popularity and comeback that is bringing them together. The Prime Minister remains by far the most popular, decisive and dynamic leader of the present set of politicians. His integrity, emphasis on ethics, decisiveness, growth-oriented politics, has made aspirational India to accept him. He has singularly decimated all caste-based parties and dynastic political groups in 2014. The opposition is making Prime Minister Modi’s continuation in office as a key political issue. We in BJP welcome this agenda being set by the opposition.
The Sham Unity Arithmetic
The Kolkata rally organized by Trinamool Congress leader Mamata Banerjee was significant. On the surface, it was an anti-Modi rally. It indeed was. More significantly it was also a non-Rahul Gandhi rally. The opposition politics has thrown up four desirous Prime Ministers wishing to challenge Prime Minister Modi. Besides Mamata Banerjee, the other three – Rahul Gandhi, Mayawati and KCR were significantly absent in Kolkata. 2/3rd of those on stage were those who in the past have worked with the BJP. Some octogenarians reached Kolkata to satisfy their late-life ambitions. There was not a single speech reflecting the positive idea which the leaders proposed for the future. Negativism was writ large in their approach. The strategy of each of the four contenders is clear.
The Didi of West Bengal wants a combination of the political adventurists to back her. From the ultra-adventurist Chief Minister of Delhi to the discards of the BJP, there are not too many takers for her. The presence of the National Conference, RJD and DMK leaders was a ritual. Their State alliance interests necessitate them to be more with the Congress. The Behanji of Uttar Pradesh has a clear strategy – play it hard to get. She believes that in India, only caste matters. She is clear that this is her only opportunity. KCR is presently the exponent of a non-Congress, non-BJP front. Is there a space for any such front today? It remains a doubtful proposition. The individual strategy of each one of the above appears to be the same. Replace Modi and get on to the Driver’s seat. The Congress, if it chooses, can at best be the pillion rider.
In the Kolkata rally, negativism was the flavor. The former US Vice-President Spiro Agnew had said in 1970 in the context of the United States – “We have more than our share of the nattering nabobs of Negativism. They have formed their own 4H club the hopeless, hysterical hypochondriacs of history.”
Every word of this was true in Kolkata.
Except in Uttar Pradesh and to a lesser extent Karnataka, the arithmetical combination does not appear to be any significantly different from 2014. The whole emphasis in these two States is on caste coalitions. Vote transferability in such caste coalitions is not so simple. Local chemistries react differently. Many of these combinations end up as theoretical propositions.
The BJP and NDA have to be prepared for a battle for a 50% vote in the direct fight contest. Many States will still witness triangular contests. If a second term for Prime Minister Modi is the issue, it is advantage BJP. The election will be more presidential. If negativism is the political campaign in an aspirational nation, it won’t work. If arithmetic is the only hope, the Modi chemistry can prevail over it. People are more intelligent than what many politicians think about them. They never choose chaos as an option. What has been presented by the opposition is a post-election leadership battle, no common programme, no policy and a disastrous memory of their administrative disabilities. Experimented, tried and failed ideas only scare voters. They convey no appeal. People want a Five Year Government, not a six month one.
Epilogue
Amongst the early elections that I participated in as a student, was the 1971 General Elections. We in the Opposition had formed a ‘Grand Alliance’ the English Translation of “Mahagathbandhan”. We had powerful leaders and a head-start in the media. Additionally, the Congress had split into two. One of the tallest journalists of that generation, Frank Moraes wrote a daily political column against the then Prime Minister Indira Gandhi. Curiously, it was also titled ‘Myth and Reality’. The results were announced, India rejected negativism. The India of 2019 has moved way ahead of India of 1971. Aspirational society never commit a collective suicide. They do not suffer from a Lemming Syndrome.
Agencies
Passport, visa processes being eased for diaspora Indians
Nasheman News : Prime Minister Narendra Modi on Tuesday told overseas Indians that his government is making efforts to ease the processes concerning their social security, passport, visa and PIO and OCI cards and that work is on to issue chip-based e-passports.
Inaugurating this year’s Pravasi Bharatiya Divas (PBD), the Indian diaspora conclave, he said that the government’s endeavour was that overseas Indians should stay “happy and safe wherever they are”.
“The government is trying to ease the entire processes concerning your social security, passport, visa, Persons of Indian Origin (PIO) and Overseas Citizen of India (OCI) Cards. We have taken a new step a few months back concerning overseas Indians. Our embassies and consulates are being connected to the Passport Seva Project worldwide,” he said.
This, he said, will prepare a centralized system connected to the passport service for all of them. “Going one step ahead, work is on for issuing of the chip-based e-passport.”
The Prime Minister said that along with passport, the rules related to visa were being simplified.
“With the convenience of e-visa, you are also saving time and problems are also getting reduced.
“Many of you will also be familiar with the fact that our government has made the process of converting PIO (Person of Indian Origin) cards into OCI (Overseas Citizen of India) cards.”
Modi also urged Indians or people of Indian living abroad to contribute to the building of a new India and said that the changes that were coming in India were becoming new opportunities.
“In this changing India, you can play a big role in research and development and innovation.
“The government is also trying to bring Indian start-ups and NRI mentors together on one platform. Defence manufacturing can also be an important sector for you.”
Modi urged Indians living abroad to motivate at least five families around them to come to India. “Your efforts will play an important role in enhancing tourism in the country.”
He said that in the last four years, India had taken a major step towards achieving its natural position in the world.
“People used to say that India cannot change,” he said. “We have changed this thinking. We have made changes.”
Stating that today India led the world in many fields, he said the International Solar Alliance was one such example.
“It is also part of our goal of preparing solutions to India’s problems, that can also solve the problems of other countries. We are working with the application of local solution, global application.”
Modi added: “In the last four-and-a-half years, more than two lakh Indians stranded in crisis situations abroad have been helped by the government and its efforts.”
Ahead of this year’s general elections, Modi also launched an attack on the Congress over the issue of corruption citing a quote by former Prime Minister Rajiv Gandhi.
“He said that only 15 percent of the money that the central government sends from Delhi reach the people.”
Modi said no attempt was made by the Congress to stop this loot. “The country’s middle class continued to pay taxes honestly, and 85 per cent of this loot continued.”
But his government was using technology to eliminate this loot.
Modi’s Mauritius counterpart Pravind Jugnauth, the chief guest at the event, commended India’s efforts in reaching out to the diaspora.
Earlier, External Affairs Minister Sushma Swaraj welcomed the gathering.
Organised by the External Affairs Ministry and the Uttar Pradesh government, the Indian diaspora conclave this year has over 5,000 delegates registered.
This year’s theme of the convention is “Role of Indian diaspora in building a new India”.
Modi called this year’s PBD the “most successful” event saying the people of Varanasi, his Lok Sabha constituency, have taken ownership of the three-day jamboree.
Bollywood Buzz
By: Rizwan Asad
Jhansi Ki Rani Dons Khadi In ‘Manikarnika: The Queen Of Jhansi’
It is official now! Kangana Ranaut, in her lead role in Manikarnika: The Queen Of Jhansi wore the heritage fabric Khadi in the upcoming Indian epic biographical film. In Manikarnika: The Queen Of Jhansi, the main protagonist, Kangana Ranaut & other casts would be seen donning beautifully ensembled Khadi costumes which has been sponsored by Khadi & Village Industries Commission (KVIC).
Expressing pride for being a part of India’s indomitable spirit of Independence, KVIC Chairman Vinai Kumar Saxena stated, “We all know that in the year 1926, Mahatma Gandhiji had upheld Khadi as the symbol of swaraj & spun the final yarn of India’s fabric of Independence. But, perhaps few people know that some several decades before Mahatma Gandhiji’s tryst with Charkha, a girl born in Varanasi as Manikarnika or Manu, not only mastered reading the Vedas & the Puranas, riding & sword fighting, but also learnt weaving before being proclaimed as the Queen of Jhansi”.
Vinai Kumar further added that Rani Laxmibai is one of the most fascinating warriors of Indian struggle for freedom she had waged the 1st ever war of Independence, wearing khadi. It would once again prove that prior to British rule in India, Khadi was flourishing in our country and later it was Charkha that drove the Britishers away from India.”
Chairman KVIC further informed that Khadi costumes for this movie have been designed by noted fashion designer Neeta Lulla. Wearing khadi means paying homage to craftsperson who spin the yarn on the charkha. Even in the machine-age, they work round-the-clock to produce the hand-spun fabric.” “I think mainstream cinema will be able to do full justice in promoting the fabric to the millennial generation & the masses alike.”
The costume crafted in Khadi for Manikarnika: The Queen Of Jhansi in the film showcases both the strength & the courage onscreen & it has been meticulously crafted in khadi fabrics like, raw cotton, brocade & paithani.
KVIC collaborated with the filmmakers mainly to sensitise people about Khadi’s close & strong association with the Indian history.The film hits the celluloid silver screen on 25th Jan, 2019.
Farm loan waivers to raise states’ fiscal deficit: India Ratings
Nasheman News : Farm loan waivers and other schemes declared by states will raise their aggregate fiscal deficit next year but will not pose a major risk to their total debt burden, India Ratings and Research (Ind-Ra) said in a report.
“The agency expects the aggregate fiscal deficit of states to come in higher at 3.2 per cent in FY20 than the agency’s forecast of 2.8 per cent in the FY19 mid-year outlook.
“Although this is higher than the fiscally prudent level of 3 per cent of gross domestic product (GDP), Ind-Ra believes this will not pose a significant upside risk to states’ aggregate debt burden in FY20,” the report said.
Further, Ind-Ra has maintained a stable outlook on the finances of the states for 2019-20.
States’ revenue account on aggregate is likely to clock a deficit of 0.5 per cent of GDP in 2019-20 due to a higher growth in revenue expenditures than revenue receipts, it said.
“The competitive populism, in the nature of farm loan waivers and other financial support schemes, would take centre stage in the run-up to next general elections in May 2019.
“A larger impact is expected on fiscal and revenue deficit to gross state domestic product ratios for Madhya Pradesh, Kerala and Rajasthan, among non-special category states, in FY20,” it added.
As per the report, states’ total revenue expenditure is likely to grow 18.9 per cent year-on-year (yoy) to Rs 33,280.90 in FY20 from 11.2 per cent in current fiscal.
Madhya Pradesh, Chhattisgarh, Assam and Rajasthan have announced farm loan wavers in December 2018 to address farmers’ distress. Odisha and Jharkhand too have announced schemes similar to Rythu Bandhu scheme in Telangana for small and marginal farmers.
The casualty of farm loan waivers would be the capital expenditure as capex is a soft target for deficit control during periods of fiscal adjustment, the rating agency said.
“Ind-Ra expects states’ aggregate capex/GDP to come in marginally lower at 3 per cent in FY20 from the budget estimate of 3.07 per cent for FY19,” it said.
The agency believes capex to GDP ratio could come in below 3 per cent for Tamil Nadu, Haryana, West Bengal and Kerala in 2019-20.
Ind-Ra expects the aggregate debt/GDP to rise to 25.1 per cent in FY20 from the budgeted 24.3 per cent for FY19.
“The agency does not view the increase to be detrimental to states’ debt sustainability position, although states would channelise some part of borrowings towards meeting revenue expenditure,” the report observed.
In Ind-Ra’s opinion, Madhya Pradesh, Tamil Nadu and Kerala are most susceptible to clock an increase in the debt burden in FY20.
Ind-Ra estimates the gross market borrowings of states to be Rs 5.7 trillion in FY20 and in the range of Rs 5.01 trillion-5.13 trillion in FY19, which is higher than the states’ budgeted gross market borrowings of Rs 4.4 trillion for FY19.
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