Prime Minister Narendra Modi made a risky and surprise announcement on November 8 by demonetising India's high demonetisation Rs 1000 and 500 notes. It was a drastic step full of imponderables. His intention was to fight corruption and black money. Following the announcements there were long queues outside banks either to exchange old notes or to withdraw money from the accounts. People were seen standing in line for hours together in front of banks in an orderly manner. Though there were murmurs of dissent, people suffered for the sake of the country. Tragicaly, some old people even lost their lives while standing in the queue, but there were no riots By and large this shows that people have accepted the steps taken by Modi as a necessary thing to do. After 50 days of demonetisation, Modi last Saturday addressed the nation and made demonetisation as a battle between “honest and dishonest.”
Modi said that the taxes recovered from large suppressed incomes benefit the socially and economically vulnerable. He said he would protect interests of poor, middle class and promised more action against black money and tax evaders. The PM announced schemes and measures for the poor, farmers, small traders, women and senior citizens. Modi said the pain of demonetisation would be worth the while if the dishonest are punished and promised he will not take his eye off the ball with more measures to curb corruption and unveil black money on the anvil. Promising action against those who are dishonest about their tax liabilities, he said “The question being asked is what will happen to the dishonest? Law will deal with them strictly,” he said.
Modi described demonetisation as a “historic shuddi yagna” (Cleansing operation) that will set the country's direction in coming years. He said people had supported demonetisation despite having to stand in lines for hours to withdraw their own money because they wanted to escape the stifling effect of distortions and ills caused by corruption, black money and fake currency. Modi said that gains from demonetisation in terms of money that has become part of the formal economy will be used to benefit the poor and small tradesmen who find it hard to access credit. He said it would be his priority to find ways and means to reward honest citizens while there would be tough action against the unscrupulous. The PM said more measures would come to nab tax evaders and black money hoarders.
Modi announced 8 per cent return for the saving schemes for senior citizens. Modi said that assured return would be offered on deposits of up to Rs 7.5 lakh for 10 years. Modi's incentive schemes for the people will permeate into the market and would benefit the whole nation. Modi's steps have changed the attitude of the people and they are now looking at corrupt people with contempt. The demonetisation has increased the deposits in the banks and this in the long run would benefit the country. Banks will have more money to finance welfare schemes for the people. The demonetisation has brought out the black sheep in the society and many of them were caught by the officials. Even some bank officials were caught indulging in corruption and they would face the law in due course. Even most of the industrialists supported the move as a necessary step though they also faced hardship due to restrictions on withdrawals. Overall the majority of the people accepted it as a necessary step though the opposition parties have opposed the steps.
Time for us to raise our voice against terror
A mere 75 minutes into 2017, Turkish city Istanbul fell victim to its first terrorist attack of the new year. A gunman opened fire on revellers at a jam-packed nightclub situated on the shores of Bosporus, on January 1. The perpetrator, who remains at large, killed at least 39 people, including two Indians and several foreigners, in his seven minute shooting spree, shooting 180 bullets. The past year was rather harsh on Turkey, with its failed July 15 coup and a string of deadly bombings in major cities, including capital Ankara. The attack on the Reina club was claimed by ISIS. Handful of days before the New Year's eve the Islamic State of Iraq and the Levant had put up an online message calling for attacks by "lone wolves" on "celebrations, gatherings and clubs". A threat which prompted tight security across the country, 17,000 police officers were deployed in Istanbul alone.
The Reina Club is one of the best known nightspots, popular with locals and foreigners, making it an apt mark for terrorists. Somewhere around 700 people were said to have been inside the club when the gunman shot dead a policeman and a civilian and forced his way in and opened fire. Istanbul Governor Vasip Şahin said the attacker used a "long-range weapon" to "brutally and savagely" fire on people. Interior Minister Süleyman Soylu said the suspect remains at large and is now the target of a primary manhunt. "The attacker, in the most brutal and merciless way, targeted innocent people who had only come here to celebrate the New Year and have fun," Governor Vasip said. Identities of 35 victims were confirmed by the authorities. Twenty four of the deceased are said to be foreign nationals, the other 11 are reported to be Turkish citizens.
In the last few weeks of 2016, Turkey already limped its way through assorted terrorist strikes, be it from the Kurdish group or the ISIS. Two bombs were placed by PKK militants outside a football stadium, 44 people were killed. A car bomb by PKK claimed 13 soldiers and wounded 56. The Russian Ambassador to Turkey was shot dead by an off-duty police officer while giving a speech in Ankara. And these, are just major reported incidents.
People of foreign nationalities killed on January 1, included seven Saudi Arabians, two Indians, one Canadian, one Syrian, one Israeli, two Tunisians, four Iraqis, one Lebanese, and one Belgian. If there aren't enough reasons for nations to unify against terrorism- maybe this could motivate leaders to call upon each other. Every terrorist attack is an attack on ourselves. Innocents have been brutally slaughtered for several decades now, and it is about time we all raised our voice against it.
Akhilesh stages coup, grabs power from the old guard
Three months of acrimonious manoeuvres and counter-manoeuvres resulted in Uttar Pradesh chief minister Akhilesh Yadav staging a coup and dislodging his father Mulayam Singh Yadav as Samajwadi Party president and installing himself as the party boss at an emergency meeting of the party. Mulayam was made margdarshak (the guide). Akhilesh represents the future of Samajwadi Party. The new president was installed during the meeting of the SP national executive, where another sensational development was removing Akhilesh's adversaries Shivpal Yadav and Amar Singh from party posts. With the old guard resisting to handover the baton to the gen-next leader, Akhilesh has done well to grab authority ahead of the crucial assembly elections.
When Akhilesh was appointed CM by his father in 2012, it was assumed that the move would end the succession battle within SP. But the CM did not get a free hand in running the state's affairs and his authority was undermined at regular intervals. When Akhilesh asserted himself, it was met by stiff resistance from uncle Shivpal and from Mulayam. At the core of the dysfunctional joint family politics is the SP legacy of patronising criminal elements and corruption. Akhilesh has consciously tried to build a different image.
It was against the wishes of Akhilesh that mafia don Atiq Ahmed was given a ticket and Mukhtar Ansari's Qaumi Ekta Dal was merged with SP. But while its past glories might have come from muscle power and caste politics, the future of SP lies with Akhilesh, who has managed to brand himself as a leader committed to development and middle-class aspirations in a state witnessing urbanisation. The CM also enjoys popularity among women and youth.
Mulayam is not going to give up power so soon. He has complained to the Election Commission that the meeting which declared Akhilesh the party president was unconstitutional. Meanwhile, political rivals are keenly interested in how all this infighting is weakening SP. It strengthens Mayawati's message that Muslim interests would be better served by voting for BSP. It gives Amit Shah a reason to smile too, after dismal reports of how public discontent over the cash crunch has hurt BJP prospects. Congress would like to seek the CM riding the saddle because he is more open to an alliance with it than Mulayam. As for SP, its prospects strengthen with the strengthening of Akhilesh.
Sources said a revamp of the national executive will also begin in two days. Akhilesh is tipped to nominate cousin and Lok Sabha MP Dharmendra Yadav to the national executive. According to Article 14(2) of the SP constitution, a special convention can be convened on the back of a demand for it by 40% or more members. Ram Gopal claimed this was the case. The SP constitution also permits a general secretary to convene such a convention, and says it should be led by party vice president - in this case Kiranmoy Nanda - in absence of the president.
Vibrant Gujarat summit to be bigger than ever
The eighth edition of biennial investors' summit, Vibrant Gujarat is set to commence from January 10, and is expected to be bigger than ever. With participation from over 10 different countries, the Global Investors' Summit this year has a lot on its plate, including featuring action seminars, and interactive sessions with Nobel prize winners. While Gujarat looks forward to invite much more business than it did in 2015, this time, it has decided to do it with much glitz and pomp.
Vibrant Gujarat was initiated in 2003 by then chief minister Narendra Modi. The event saw over 73 MoUs signed, all worth and investment of $ 14 billion. Conspicuously known as an industrial state, the state has been in direct competition with China, Japan, Taiwan, and South Korea in terms of business. A lot of credit goes to Modi for developing Gujarat based on its strength. With a flagship idea, which was later mirrored by chief ministers of other Indian states, Modi- along with other prominent Gujarati business leaders, pitched for direct foreign investment. Over the years, the focus of the Vibrant summits have remained on various sectors including, Information Technology, Biotechnology, Agro, Energy, Gas, Petroleum, and other Non-conventional sources of energy. The central focus of this year's Summit is Sustainable Economic and Social Development.
The total of seven summits held until now have been met with resounding success and transformed Gujarat into a "Global Business Hub". The year 2016 has been a good for Gujarat. Even with the leadership changing after a brief glitch in the ruling Bharatiya Janata Party, several employment opportunities opened up courtesy the previous summit, MoUs were put into execution, or plan, and the local businesses got an opportunity to mingle with big names. Gujarat also audaciously stepped into the defence sector. After making its mark in the Automobile sector, data put forth by the Department of Industrial Policy and Promotion said the state was granted 18 out of total 99 industrial licenses for private companies to set up units for defence related items- the highest for any state for the period of 2015 and 2016. It also received major impetus in the Information Technology sector that may cross £20 billion by FY 2020-21, as clocked by industry body ASSOCHAM.
What began as a way to bring in investment, Vibrant has blossomed into a global business event. This year's event will bring in good news for Start Ups, as there are several seminars scheduled on innovation, start-ups and entrepreneurship. The state government is also in contact with incubators and entrepreneurs from various fields such as academics and finance to help position Gujarat as a potential start up hub. The first vision document was launched in the 2016 edition of the Summit, where a guideline of policies was laid out to aid a holistic environment for growth for start-ups. The 2017 edition will improve upon these further by bringing together people from diverse fields such as industry, technology and science to help shape the policies of the future.
