Hindu seers and ascetics recently criticised Indian Prime Minister Narendra Modi&#39;s call for a cashless economy, according to a PTI report.

In a surprise move, Modi on November 8 announced the withdrawal of 500 and 1,00 rupee notes from circulation, causing panic and chaos.

The BJP government has said the move was aimed at encouraging digital payments and to fight black money. &nbsp;

But, Hindu priests and seers are not very happy about it.

According to Hindu traditions, any &#39;dakshina&#39; or money paid to seers and priests is to be made in cash and is supposed to be a secret.

President of Akhil Bharatiya Akhara Parishad, apex body of Hindu seers, Narendra Giri, said the move threatened an age-old tradition, PTI reported.

&quot;According to our tradition, whenever saints, priests or spiritual leaders are given food they should be given &#39;dakshina&#39; in terms of cash or in kind. How can we stop this tradition? If Modi wants to end this tradition then he can do so. If he wants to end the culture of saints, then he can. He does not want any saints to remain in India and that the eternal tradition ends,&quot; PTI quoted Giri as saying.

Some temples are trying to cope up with the aftermath of demonetisation as donations dry up.

The priest of a local temple, Shyam Pathak, said the authorities were planning to install a card swiping machine soon.

&quot;I think that a card swipe machine should be kept here as soon as possible so that things will be made easier for the devotees and we will also face less problems. A card swiping machine has not been installed yet but efforts are on to get it very soon,&quot; PTI quoted Pathak as saying.&nbsp;

(WION with inputs from PTI)

Any money paid to seers is to be made in cash, but with Modi's move to promote digital payments they now fear their income will dry up

Hindu seers and ascetics recently criticised Indian Prime Minister Narendra Modi's call for a cashless economy, according to a PTI report. In a surprise move, Modi on November 8 announced the withdrawal of 500 and 1,00 rupee notes from circulation, causing panic and chaos. The BJP government has said the move was aimed at encouraging digital payments and to fight black money. But, Hindu priests and seers are not very happy about it. According to Hindu traditions, any 'dakshina' or money paid to seers and priests is to be made in cash and is supposed to be a secret. President of Akhil Bharatiya Akhara Parishad, apex body of Hindu seers, Narendra Giri, said the move threatened an age-old tradition, PTI reported. "According to our tradition, whenever saints, priests or spiritual leaders are given food they should be given 'dakshina' in terms of cash or in kind. How can we stop this tradition? If Modi wants to end this tradition then he can do so. If he wants to end the culture of saints, then he can. He does not want any saints to remain in India and that the eternal tradition ends," PTI quoted Giri as saying. Some temples are trying to cope up with the aftermath of demonetisation as donations dry up. The priest of a local temple, Shyam Pathak, said the authorities were planning to install a card swiping machine soon. "I think that a card swipe machine should be kept here as soon as possible so that things will be made easier for the devotees and we will also face less problems. A card swiping machine has not been installed yet but efforts are on to get it very soon," PTI quoted Pathak as saying. (WION with inputs from PTI)

Demonetisation: Hindu seers, ascetics criticise Modi's move for cashless economy

Indian Prime Minister Narendra Modi Saturday laid the foundation stone for what is set to be the world&#39;s tallest statue, as its projected multi-million-dollar cost sparked criticism and an online petition against the project.

The statue of Chhatrapati Shivaji, a 17th-century Hindu ruler who fought the Muslim Mughal dynasty and carved out his own kingdom, will be more than twice the size of the Statue of Liberty and five times higher than Christ the Redeemer in Rio de Janeiro.

The structure, a pet project of Hindu nationalist Modi, will rise 192 metres (630 feet) from an island off the western coast of Mumbai in the Arabian Sea.

When finished, it will tower over the 128-metre Spring Temple Buddha in China&#39;s Henan province that is currently the world&#39;s tallest statue.

&quot;Even in the midst of struggle, Shivaji Maharaj remained a torchbearer of good governance,&quot; Modi said at the inaugural event.&nbsp;

&quot;So many aspects of his personality inspire us.&quot; &nbsp;&nbsp;&nbsp;&nbsp;

The government of Maharashtra state, of which Mumbai is the capital, is expected to spend some 36 billion rupees ($530 million) on the statue, which is scheduled for completion by 2019.

But the project has drawn brickbats from many people who instead want the government to devote its resources to infrastructure, education and development.

By Saturday evening, more than 27,000 people had signed an online petition on Change.org urging the government to drop the plans.

&quot;Apart from a waste of money, this statue is going to be terrible for the environment; for the traffic situation in South Bombay&nbsp;and a security nightmare,&quot; said the petition.

Shivaji is revered by many in&nbsp;Maharashtra. Mumbai&#39;s main train station and airport are named after the ruler, who is also one of the symbols of a Hindu cultural revival promoted by Modi.

The plans for the latest memorial follow an earlier initiative by Modi to build a&nbsp;182-metre tall tribute to Indian independence hero Sardar Vallabbhai Patel in his home state of Gujarat, at an estimated cost of 25 billion rupees ($368 million).&nbsp;Construction on that&nbsp;statue began in 2014.

(AFP)

The statue of Chhatrapati Shivaji, a venerated 17th-century Hindu ruler, will be more than twice the size of the Statue of Liberty

Indian Prime Minister Narendra Modi Saturday laid the foundation stone for what is set to be the world's tallest statue, as its projected multi-million-dollar cost sparked criticism and an online petition against the project. The statue of Chhatrapati Shivaji, a 17th-century Hindu ruler who fought the Muslim Mughal dynasty and carved out his own kingdom, will be more than twice the size of the Statue of Liberty and five times higher than Christ the Redeemer in Rio de Janeiro. The structure, a pet project of Hindu nationalist Modi, will rise 192 metres (630 feet) from an island off the western coast of Mumbai in the Arabian Sea. When finished, it will tower over the 128-metre Spring Temple Buddha in China's Henan province that is currently the world's tallest statue. "Even in the midst of struggle, Shivaji Maharaj remained a torchbearer of good governance," Modi said at the inaugural event. "So many aspects of his personality inspire us." The government of Maharashtra state, of which Mumbai is the capital, is expected to spend some 36 billion rupees ($530 million) on the statue, which is scheduled for completion by 2019. But the project has drawn brickbats from many people who instead want the government to devote its resources to infrastructure, education and development. By Saturday evening, more than 27,000 people had signed an online petition on Change.org urging the government to drop the plans. "Apart from a waste of money, this statue is going to be terrible for the environment; for the traffic situation in South Bombay and a security nightmare," said the petition. Shivaji is revered by many in Maharashtra. Mumbai's main train station and airport are named after the ruler, who is also one of the symbols of a Hindu cultural revival promoted by Modi. The plans for the latest memorial follow an earlier initiative by Modi to build a 182-metre tall tribute to Indian independence hero Sardar Vallabbhai Patel in his home state of Gujarat, at an estimated cost of 25 billion rupees ($368 million). Construction on that statue began in 2014. (AFP)

India lays foundation stone for world's tallest statue

India criticised&nbsp;Moody&#39;s&nbsp;ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country&#39;s debt levels and fragile banks.

Winning a better credit rating on India&#39;s sovereign debt would have been a much-needed endorsement of Prime Minister Narendra Modi&#39;s economic stewardship, helping to attract foreign investment and accelerate growth.

Since storming to power in 2014, Modi has unveiled measures to boost investment, cool inflation and narrow the fiscal and current account deficits, but his policies have not been rewarded with a ratings upgrade from any of the &quot;big three&quot; global ratings agencies, who say more is needed.

Previously unpublished correspondence between India&#39;s finance ministry and&nbsp;Moody&#39;s&nbsp;shows New Delhi failed to assuage the ratings agency&#39;s concerns about the cost of its debt burden and a banking sector weighed down by $136 billion in bad loans.

In letters and emails written in October, the finance ministry questioned&nbsp;Moody&#39;s&nbsp;methodology, saying it was not accounting for a steady decline in the India&#39;s debt burden in recent years. It said the agency ignored countries&#39; levels of development when assessing their fiscal strength.

Rejecting those arguments,&nbsp;Moody&#39;s&nbsp;said India&#39;s debt situation was not as rosy as the government maintained and its banks were a cause for concern, the correspondence seen by Reuters showed.

Moody&#39;s&nbsp;and one of its lead sovereign analysts, Marie Diron, declined to comment on the correspondence, saying ratings deliberations were confidential. India&#39;s finance ministry did not respond to requests for comment.

Arvind Mayaram, a former chief finance ministry official, called the government&#39;s approach &quot;completely unusual&quot;.

&quot;There was no way pressure could be put on rating agencies,&quot; Mayaram told Reuters. &quot;It&#39;s not done.&quot;

Debt burden, bad loans

India has been the world&#39;s fastest-growing major economy over the past two years, but that rapid expansion has done little to broaden the government&#39;s revenue base.

At nearly 21 per cent of gross domestic product (GDP), India&#39;s revenues are lower than the 27.1 per cent median for Baa-rated countries. India is rated at Baa3 by&nbsp;Moody&#39;s, the agency&#39;s lowest notch for debt considered investment grade.

A higher rating would signify to bond investors that India was more creditworthy and help to lower its borrowing costs.

While India&#39;s debt-to-GDP ratio has dropped to 66.7 percent from 79.5 percent in 2004-05, interest payments absorb more than a fifth of government revenues.

Moody&#39;s&nbsp;representatives, including Diron, visited North Block, the colonial sandstone building in the Indian capital that houses the finance ministry, on Sept. 21 for a discussion on a ratings review.

The atmosphere at the meeting with Economic Affairs Secretary Shaktikanta Das, one of the ministry&#39;s most senior officials, and his team was tense, according to an Indian official present, after Diron had told local media the previous day that a ratings upgrade for India was some years away.

On Sept. 30,&nbsp;Moody&#39;s&nbsp;explained its methodology to Indian officials in a teleconference.

Lobbying for an upgrade

Four days later, the finance ministry sent an email to Diron questioning&nbsp;Moody&#39;s&nbsp;metrics on fiscal strength. The government cited the examples of Japan and Portugal, which enjoy better ratings despite debts around twice the size of their economies.

&quot;Given that countries are on different stages of economic and social development, should countries be benchmarked against a median or mean number (as is done by&nbsp;Moody&#39;s)&quot; the email asked.

In India&#39;s case, &quot;while the debt burden lowered significantly post 2004, this did not get reflected in the ratings&quot;, the ministry argued.

New Delhi urged Diron to look at improvements in the factors - better forex reserves and economic growth - that&nbsp;Moody&#39;s&nbsp;had considered when handing India its last ratings upgrade in 2004.

In a reply the next day, Diron said that, not only was India&#39;s debt burden high relative to other countries with the same credit rating, but its debt affordability was also low.

She added that a resolution to the banking sector&#39;s bad loan problems was &quot;unlikely&quot; in the near-term.

In a last-ditch effort on Oct. 27, Economic Affairs Secretary Das sent a six-page letter to Singapore-based Diron, addressed to&nbsp;Moody&#39;s&nbsp;New York headquarters.

Reiterating points on India&#39;s fiscal strength, Das asked&nbsp;Moody&#39;s&nbsp;for a &quot;better appreciation of the factual position&quot;.

Das dismissed&nbsp;Moody&#39;s&nbsp;concerns on India&#39;s public finances as &quot;unwarranted&quot; and told the agency that there was &quot;scope for further lowering&quot; the political risk perception to &quot;very low&quot;.

&quot;In the light of stable external debt parameters and the slew of reforms introduced in the realm of foreign direct investment, you may like to reconsider your assessment on &#39;external vulnerability risk&#39;,&quot; he wrote.

Moody&#39;s&nbsp;on Nov. 16 affirmed its Baa3 issuer rating for India, while maintaining a positive outlook, saying the government&#39;s efforts had not yet achieved conditions that would support an upgrade.

(Reuters)

Winning a better credit rating on India's sovereign debt would have been a much-needed endorsement of Prime Minister Narendra Modi's regime

India criticised Moody's ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country's debt levels and fragile banks. Winning a better credit rating on India's sovereign debt would have been a much-needed endorsement of Prime Minister Narendra Modi's economic stewardship, helping to attract foreign investment and accelerate growth. Since storming to power in 2014, Modi has unveiled measures to boost investment, cool inflation and narrow the fiscal and current account deficits, but his policies have not been rewarded with a ratings upgrade from any of the "big three" global ratings agencies, who say more is needed. Previously unpublished correspondence between India's finance ministry and Moody's shows New Delhi failed to assuage the ratings agency's concerns about the cost of its debt burden and a banking sector weighed down by $136 billion in bad loans. In letters and emails written in October, the finance ministry questioned Moody's methodology, saying it was not accounting for a steady decline in the India's debt burden in recent years. It said the agency ignored countries' levels of development when assessing their fiscal strength. Rejecting those arguments, Moody's said India's debt situation was not as rosy as the government maintained and its banks were a cause for concern, the correspondence seen by Reuters showed. Moody's and one of its lead sovereign analysts, Marie Diron, declined to comment on the correspondence, saying ratings deliberations were confidential. India's finance ministry did not respond to requests for comment. Arvind Mayaram, a former chief finance ministry official, called the government's approach "completely unusual". "There was no way pressure could be put on rating agencies," Mayaram told Reuters. "It's not done." Debt burden, bad loans India has been the world's fastest-growing major economy over the past two years, but that rapid expansion has done little to broaden the government's revenue base. At nearly 21 per cent of gross domestic product (GDP), India's revenues are lower than the 27.1 per cent median for Baa-rated countries. India is rated at Baa3 by Moody's, the agency's lowest notch for debt considered investment grade. A higher rating would signify to bond investors that India was more creditworthy and help to lower its borrowing costs. While India's debt-to-GDP ratio has dropped to 66.7 percent from 79.5 percent in 2004-05, interest payments absorb more than a fifth of government revenues. Moody's representatives, including Diron, visited North Block, the colonial sandstone building in the Indian capital that houses the finance ministry, on Sept. 21 for a discussion on a ratings review. The atmosphere at the meeting with Economic Affairs Secretary Shaktikanta Das, one of the ministry's most senior officials, and his team was tense, according to an Indian official present, after Diron had told local media the previous day that a ratings upgrade for India was some years away. On Sept. 30, Moody's explained its methodology to Indian officials in a teleconference. Lobbying for an upgrade Four days later, the finance ministry sent an email to Diron questioning Moody's metrics on fiscal strength. The government cited the examples of Japan and Portugal, which enjoy better ratings despite debts around twice the size of their economies. "Given that countries are on different stages of economic and social development, should countries be benchmarked against a median or mean number (as is done by Moody's)" the email asked. In India's case, "while the debt burden lowered significantly post 2004, this did not get reflected in the ratings", the ministry argued. New Delhi urged Diron to look at improvements in the factors - better forex reserves and economic growth - that Moody's had considered when handing India its last ratings upgrade in 2004. In a reply the next day, Diron said that, not only was India's debt burden high relative to other countries with the same credit rating, but its debt affordability was also low. She added that a resolution to the banking sector's bad loan problems was "unlikely" in the near-term. In a last-ditch effort on Oct. 27, Economic Affairs Secretary Das sent a six-page letter to Singapore-based Diron, addressed to Moody's New York headquarters. Reiterating points on India's fiscal strength, Das asked Moody's for a "better appreciation of the factual position". Das dismissed Moody's concerns on India's public finances as "unwarranted" and told the agency that there was "scope for further lowering" the political risk perception to "very low". "In the light of stable external debt parameters and the slew of reforms introduced in the realm of foreign direct investment, you may like to reconsider your assessment on 'external vulnerability risk'," he wrote. Moody's on Nov. 16 affirmed its Baa3 issuer rating for India, while maintaining a positive outlook, saying the government's efforts had not yet achieved conditions that would support an upgrade. (Reuters)

India's Modi government pushed Moody's for better credit rating but failed: Reuters

Indian Prime Minister Narendra Modi&#39;s crackdown on the cash economy has shattered the consensus needed for a new national sales tax, plunging his boldest reform into limbo and threatening to entrench an economic slowdown.

Modi&#39;s government already had its work cut out to finalise a deal with India&#39;s 29 federal states to launch a Goods and Services Tax (GST) on April 1 that would transform Asia&#39;s third largest economy into a single market for the first time.

But his decision to scrap 86 per cent of the cash in circulation, in a bid to purge the economy of illicit &quot;black money&quot;, has caused huge disruption.

A slump in business activity stemming from the cash crunch has caused the revenue of state governments, which collect value-added tax on goods and other duties, to slump by 25-40 per cent. The states won&#39;t risk another setback by rushing the sales tax into force.

&quot;The investment and economic environment in the country is in bad shape,&quot; said West Bengal finance minister Amit Mitra, who earlier head a panel tasked with building a consensus on the GST. &quot;How is the country going to absorb the dual shock of GST and demonetisation?&quot;

The GST is India&#39;s biggest tax overhaul since independence in 1947. It would replace a plethora of federal and state levies with one tax, easing compliance, broadening the revenue base and boosting productivity.

It took Modi more than two years to forge a political compromise on the tax in August. Now, demonetisation &quot;has created a trust deficit,&quot; said Kerala finance minister TM&nbsp;Thomas Isaac. &quot;After this, I am not going to sit and compromise. They don&#39;t deserve it.&quot;

&nbsp;

Left in the lurch

Failure to break the deadlock could tip India into a fiscal crisis: The GST would need to come into effect by mid-September&nbsp;when the old system of indirect taxation is due to lapse. The lingering uncertainty is worrying companies needing to understand financial implications of the new tax.

&quot;With so many vital details still missing, they are feeling left in the lurch,&quot; said Saloni Roy, a senior director at Deloitte.

Modi&#39;s shock move last month to scrap 500 and 1,000 rupee notes was aimed at India&#39;s shadow economy. But the ensuing cash crunch has caused job losses, disrupted supply chains and slowed construction activity.

With cash shortages showing no signs of abating, some economists are calling for emergency stimulus to cushion the economy against the impact of demonetisation.

Ambit Capital, a Mumbai brokerage, forecasts growth this fiscal year will be only half of the roughly 7 per cent level many expect. The Reserve Bank of India has shaved its growth outlook by half a percentage point to 7.1 per cent. To make up for their losses, states are seeking compensation and will press their case at a meeting in New Delhi on Thursday and Friday with Finance Minister Arun Jaitley.

He has already agreed to cover states&#39; revenue losses for five years after the GST&#39;s launch, but further concessions would narrow his room for manoeuvre in his annual budget presented in February.

One top finance ministry official dismissed demands for compensation for demonetisation as unreasonable. But states are adamant. &quot;They have brought it upon us,&quot; V&nbsp;Narayanasamy, chief minister of Puducherry, told Reuters. &quot;Now they must pay for our loss.&quot;

&nbsp;

Counting costs

The quibble is not just over lost revenue. Some states worry about the social and political costs of demonetisation.

Take Kerala, where credit cooperatives that farmers and retired government workers rely on cannot swap old bills or issue fresh notes. The state alleges this has encouraged commercial banks to scout for their deposits, sparking a &quot;run&quot; on them.

Odhisa&#39;s chief minister has written to Modi, saying curbs imposed on primary agriculture societies were making it difficult for farmers to access crop loans and procurement payments.

With the states smarting, they have hardened their stance on how to collect the new GST, which will have federal and state elements.

They want sole control over businesses with annual turnover of 15 million rupees ($220,000) and so-called &quot;dual control&quot; over bigger firms. Jaitley opposes this, fearing tax collectors could end up at cross purposes.

&quot;We reached this far because states were willing to compromise,&quot; said Isaac, Kerala&#39;s finance minister, told Reuters. &quot;If they want the GST, they will have to now concede to the states.&quot;

(Reuters)

A slump in business activity stemming from the cash crunch has caused the revenue of state governments to slump by 25-40 per cent

Indian Prime Minister Narendra Modi's crackdown on the cash economy has shattered the consensus needed for a new national sales tax, plunging his boldest reform into limbo and threatening to entrench an economic slowdown. Modi's government already had its work cut out to finalise a deal with India's 29 federal states to launch a Goods and Services Tax (GST) on April 1 that would transform Asia's third largest economy into a single market for the first time. But his decision to scrap 86 per cent of the cash in circulation, in a bid to purge the economy of illicit "black money", has caused huge disruption. A slump in business activity stemming from the cash crunch has caused the revenue of state governments, which collect value-added tax on goods and other duties, to slump by 25-40 per cent. The states won't risk another setback by rushing the sales tax into force. "The investment and economic environment in the country is in bad shape," said West Bengal finance minister Amit Mitra, who earlier head a panel tasked with building a consensus on the GST. "How is the country going to absorb the dual shock of GST and demonetisation?" The GST is India's biggest tax overhaul since independence in 1947. It would replace a plethora of federal and state levies with one tax, easing compliance, broadening the revenue base and boosting productivity. It took Modi more than two years to forge a political compromise on the tax in August. Now, demonetisation "has created a trust deficit," said Kerala finance minister TM Thomas Isaac. "After this, I am not going to sit and compromise. They don't deserve it." Left in the lurch Failure to break the deadlock could tip India into a fiscal crisis: The GST would need to come into effect by mid-September when the old system of indirect taxation is due to lapse. The lingering uncertainty is worrying companies needing to understand financial implications of the new tax. "With so many vital details still missing, they are feeling left in the lurch," said Saloni Roy, a senior director at Deloitte. Modi's shock move last month to scrap 500 and 1,000 rupee notes was aimed at India's shadow economy. But the ensuing cash crunch has caused job losses, disrupted supply chains and slowed construction activity. With cash shortages showing no signs of abating, some economists are calling for emergency stimulus to cushion the economy against the impact of demonetisation. Ambit Capital, a Mumbai brokerage, forecasts growth this fiscal year will be only half of the roughly 7 per cent level many expect. The Reserve Bank of India has shaved its growth outlook by half a percentage point to 7.1 per cent. To make up for their losses, states are seeking compensation and will press their case at a meeting in New Delhi on Thursday and Friday with Finance Minister Arun Jaitley. He has already agreed to cover states' revenue losses for five years after the GST's launch, but further concessions would narrow his room for manoeuvre in his annual budget presented in February. One top finance ministry official dismissed demands for compensation for demonetisation as unreasonable. But states are adamant. "They have brought it upon us," V Narayanasamy, chief minister of Puducherry, told Reuters. "Now they must pay for our loss." Counting costs The quibble is not just over lost revenue. Some states worry about the social and political costs of demonetisation. Take Kerala, where credit cooperatives that farmers and retired government workers rely on cannot swap old bills or issue fresh notes. The state alleges this has encouraged commercial banks to scout for their deposits, sparking a "run" on them. Odhisa's chief minister has written to Modi, saying curbs imposed on primary agriculture societies were making it difficult for farmers to access crop loans and procurement payments. With the states smarting, they have hardened their stance on how to collect the new GST, which will have federal and state elements. They want sole control over businesses with annual turnover of 15 million rupees ($220,000) and so-called "dual control" over bigger firms. Jaitley opposes this, fearing tax collectors could end up at cross purposes. "We reached this far because states were willing to compromise," said Isaac, Kerala's finance minister, told Reuters. "If they want the GST, they will have to now concede to the states." (Reuters)

India: Demonetisation imperils crucial national tax reform

With both of them keeping an eye on the UP election -- which goes to the polls early next year -- Prime Minister Modi and the Opposition Congress&#39; Rahul Gandhi addressed rallies in the state Monday.&nbsp;

Modi spoke in Kanpur, Rahul in Jaunpur, and while both of them obviously talked about the country&#39;s recent demonetisation -- there really is nothing else people are talking about nowadays -- the two said the exact opposite of each other.&nbsp;

Modi told his supporters that today, for the first time, they had a central government dedicated to the poor.

Rahul told his supporters that demonetisation was not a fight against the corrupt. It was a fight against the poor, the farmer, and the underprivileged.

Said Modi: We are fighting against black money and corruption. We are doing all we can to make a better India. Our agenda is to stop corruption, stop black money. But other people have an agenda of &nbsp;&quot;stop Parliament&quot;.

Said Rahul: Modi has not only sucked up the poor&#39;s money, he has also sucked out their blood.

Rahul added, &quot;We said to Modi that the poor, farmers, are crying. I urged him to waive the loans of farmers. But he did not reply. He did not say a word.&quot;

Rahul&#39;s speech also stepped into -- again -- the realm of the speculative&nbsp;

In the last few months, he said, Mr Modi has given 60 per cent of India&#39;s wealth to one per cent of India&#39;s population. And that a handful of families, some 50 of them, hold a majority of this -- 60 per cent&nbsp;of the country&#39;s wealth.

&quot;I ask you,&#39; he said, &quot;is black money with the people of India or with those 50 families?&quot;&nbsp;

Rahul has a habit of alleging the sensational. Last week, he announced to the media that he had proof of &quot;personal acts of corruption&quot; by Prime Minister Modi.&nbsp;

But he refused to elaborate, saying he would say so only in Parliament.&nbsp;

A few years ago, he had alleged that the Uttar Pradesh police had shot dead people in the villages of Bhatta and Parsaul -- the villages&#39; land had been acquired by the government and the villagers were protesting.&nbsp;

Forensics later proved the allegation to be untrue.&nbsp;

Modi, whose attacks can also veer towards the personal, tended not to this time. All he did say was that the Congress&#39; style of functioning was &quot;unaccountable, corrupt and doing as they please -- this is the functioning style of the Congress&quot;.

He added that he saw a strong desire for change in Uttar Pradesh. &quot;I don&#39;t just see winds of change. I see a storm for change,&#39; he said.

He added that if the youth of Uttar Pradesh come together, then nothing can stop India from progressing.&nbsp;

UP and 2019

Uttar Pradesh will go to the polls early next year.

The election will be even more closely watched than usual. UP is one of India&#39;s largest states and very important politically.&nbsp;

But more importantly, the result will be seen a referendum on Modi&#39;s shock demonetisation. And an indicator perhaps of which way the 2019 national election will go.&nbsp;

On November 8, Modi had announced -- to everybody&#39;s surprise -- that the country&#39;s 500 and 1,000-rupee notes would cease to be legal tender. He said he was doing so to get at the country&#39;s &quot;black&quot; or untaxed money and terror funding.&nbsp;

The move found widespread support, but it also led to 86 per cent&nbsp;of the country&#39;s currency being sucked out of circulation. News reports talked of people, left with no cash, being unable to buy food and essential medicines.&nbsp;

The chief minister of Bengal, Mamata Banerjee, recently said more than a 100 people had died because of demonetisation.&nbsp;

Today, on the ground, depending on whom you talk to, there is either tremendous anger against the move or it has dissipated.&nbsp;

The Uttar Pradesh election will tell for certain.

(WION) 
&nbsp;

Modi said, for the first time, the central govt is dedicated to the poor. Rahul said demonetisation was a fight against the poor

With both of them keeping an eye on the UP election -- which goes to the polls early next year -- Prime Minister Modi and the Opposition Congress' Rahul Gandhi addressed rallies in the state Monday. Modi spoke in Kanpur, Rahul in Jaunpur, and while both of them obviously talked about the country's recent demonetisation -- there really is nothing else people are talking about nowadays -- the two said the exact opposite of each other. Modi told his supporters that today, for the first time, they had a central government dedicated to the poor. Rahul told his supporters that demonetisation was not a fight against the corrupt. It was a fight against the poor, the farmer, and the underprivileged. Said Modi: We are fighting against black money and corruption. We are doing all we can to make a better India. Our agenda is to stop corruption, stop black money. But other people have an agenda of "stop Parliament". Said Rahul: Modi has not only sucked up the poor's money, he has also sucked out their blood. Rahul added, "We said to Modi that the poor, farmers, are crying. I urged him to waive the loans of farmers. But he did not reply. He did not say a word." Rahul's speech also stepped into -- again -- the realm of the speculative In the last few months, he said, Mr Modi has given 60 per cent of India's wealth to one per cent of India's population. And that a handful of families, some 50 of them, hold a majority of this -- 60 per cent of the country's wealth. "I ask you,' he said, "is black money with the people of India or with those 50 families?" Rahul has a habit of alleging the sensational. Last week, he announced to the media that he had proof of "personal acts of corruption" by Prime Minister Modi. But he refused to elaborate, saying he would say so only in Parliament. A few years ago, he had alleged that the Uttar Pradesh police had shot dead people in the villages of Bhatta and Parsaul -- the villages' land had been acquired by the government and the villagers were protesting. Forensics later proved the allegation to be untrue. Modi, whose attacks can also veer towards the personal, tended not to this time. All he did say was that the Congress' style of functioning was "unaccountable, corrupt and doing as they please -- this is the functioning style of the Congress". He added that he saw a strong desire for change in Uttar Pradesh. "I don't just see winds of change. I see a storm for change,' he said. He added that if the youth of Uttar Pradesh come together, then nothing can stop India from progressing. UP and 2019 Uttar Pradesh will go to the polls early next year. The election will be even more closely watched than usual. UP is one of India's largest states and very important politically. But more importantly, the result will be seen a referendum on Modi's shock demonetisation. And an indicator perhaps of which way the 2019 national election will go. On November 8, Modi had announced -- to everybody's surprise -- that the country's 500 and 1,000-rupee notes would cease to be legal tender. He said he was doing so to get at the country's "black" or untaxed money and terror funding. The move found widespread support, but it also led to 86 per cent of the country's currency being sucked out of circulation. News reports talked of people, left with no cash, being unable to buy food and essential medicines. The chief minister of Bengal, Mamata Banerjee, recently said more than a 100 people had died because of demonetisation. Today, on the ground, depending on whom you talk to, there is either tremendous anger against the move or it has dissipated. The Uttar Pradesh election will tell for certain. (WION)

Modi & Rahul address rallies in UP, say exact opposite of each other

The Rajya Sabha was adjourned sine die Friday, and the Lok Sabha was adjourned till noon because of the uproar over demonetisation.&nbsp;

Today is the last day of the winter session of Parliament, and it seems unlikely that the Lok Sabha will be able to conduct much business when it convenes again.&nbsp;

Parliament has able to conduct virtually no business this session because of the tussle between the Opposition and the government over demonetisation. The Opposition wants a vote on the matter; so far, the government has been able to stall them.&nbsp;

Earlier today, Prime Minister Narendra Modi spoke to his party MPs at a BJP parliamentary party meet. He told them to go to their constituencies and talk to the people.

Urge the people to adopt the digital economy as a way of life, he said.

He added that earlier, the Opposition would join hands against the government over scams like 2G and Coalgate, but now the Opposition is united against the government&#39;s moves to curb black money and corruption.

And that for the Congress, the&nbsp;party is above the country but for the BJP,&nbsp;the country&#39;s interests are supreme.

After the meeting, Modi met a delegation of the opposition Congress, including Rahul Gandhi.

Gandhi,&nbsp;the vice-president of the Indian National Congress,&nbsp;had sought an appointment with PM Modi to present a list of farmers&#39; demands collected during his extensive tour of the election-bound state of Uttar Pradesh.

Later today, Opposition parties plan on marching to Rashtrapati Bhavan at 12 pm to meet the President and register their protest against the government&#39;s demonetisation move.

The house also failed to transact any business Thursday, again because of the standoff between the government and the Opposition over demonetisation, and the AgustaWestland scam.

The government dared Congress President Sonia Gandhi Thursday to respond in Parliament to allegations against her party over the AgustaWestland scam, claiming the Opposition party is stalling both Houses as it has much to hide.

From the other side, Rahul Gandhi had Wednesday alleged that he had detailed information about &quot;personal corruption&quot; by Prime Minister Narendra Modi which he wanted to present in the Lok Sabha but was not being allowed to do so by the PM.

(A version of this article first appeared in DNA)

The Lok Sabha was adjourned till noon. Today is the last day of the winter session of Parliament

The Rajya Sabha was adjourned sine die Friday, and the Lok Sabha was adjourned till noon because of the uproar over demonetisation. Today is the last day of the winter session of Parliament, and it seems unlikely that the Lok Sabha will be able to conduct much business when it convenes again. Parliament has able to conduct virtually no business this session because of the tussle between the Opposition and the government over demonetisation. The Opposition wants a vote on the matter; so far, the government has been able to stall them. Earlier today, Prime Minister Narendra Modi spoke to his party MPs at a BJP parliamentary party meet. He told them to go to their constituencies and talk to the people. Urge the people to adopt the digital economy as a way of life, he said. He added that earlier, the Opposition would join hands against the government over scams like 2G and Coalgate, but now the Opposition is united against the government's moves to curb black money and corruption. And that for the Congress, the party is above the country but for the BJP, the country's interests are supreme. After the meeting, Modi met a delegation of the opposition Congress, including Rahul Gandhi. Gandhi, the vice-president of the Indian National Congress, had sought an appointment with PM Modi to present a list of farmers' demands collected during his extensive tour of the election-bound state of Uttar Pradesh. Later today, Opposition parties plan on marching to Rashtrapati Bhavan at 12 pm to meet the President and register their protest against the government's demonetisation move. The house also failed to transact any business Thursday, again because of the standoff between the government and the Opposition over demonetisation, and the AgustaWestland scam. The government dared Congress President Sonia Gandhi Thursday to respond in Parliament to allegations against her party over the AgustaWestland scam, claiming the Opposition party is stalling both Houses as it has much to hide. From the other side, Rahul Gandhi had Wednesday alleged that he had detailed information about "personal corruption" by Prime Minister Narendra Modi which he wanted to present in the Lok Sabha but was not being allowed to do so by the PM. (A version of this article first appeared in DNA)

India: Rajya Sabha adjourned sine die, Parliament on verge of washout

The Bharatiya Janata Party Parliamentary meet was held on Friday morning in the Indian capital of New Delhi where Prime Minister Narendra Modi addressed party MLAs on the issue of cash crisis in the wake of demonetisation. Modi is expected to meet with a delegation of the opposition Congress, including Rahul Gandhi,shortly.

Gandhi,&nbsp;the vice-president of the Indian National Congress,&nbsp;had sought an appointment from PM Modi to present a list of demands of farmers that he apparently collected during his extensive tour of election-bound state of Uttar Pradesh.

Later today, Opposition parties plan on marching to Rashtrapati Bhavan at 12 pm to meet the President and register their protest against the government&#39;s demonetisation move.

With only one day left, the Winter Session of Parliament is on the verge of a washout as it failed to transact any business again Thursday due to the standoff between the government and Opposition over demonetisation, AgustaWestland scam and some other issues.

The government dared Congress President Sonia Gandhi on Thursday to respond in Parliament to allegations against her party over AgustaWestland scam, claiming that the opposition party is stalling both Houses as it has a lot to hide.

On the other side, Rahul Gandhi had on Wednesday alleged that he had detailed information about &quot;personal corruption&quot; by Prime Minister Narendra Modi which he wants to present in Lok Sabha but is not being allowed to do so by the PM.

&nbsp;

(This report first appeared in DNA)

Later today, Opposition parties plan on marching to Rashtrapati Bhavan at 12 pm to meet the President

The Bharatiya Janata Party Parliamentary meet was held on Friday morning in the Indian capital of New Delhi where Prime Minister Narendra Modi addressed party MLAs on the issue of cash crisis in the wake of demonetisation. Modi is expected to meet with a delegation of the opposition Congress, including Rahul Gandhi,shortly. Gandhi, the vice-president of the Indian National Congress, had sought an appointment from PM Modi to present a list of demands of farmers that he apparently collected during his extensive tour of election-bound state of Uttar Pradesh. Later today, Opposition parties plan on marching to Rashtrapati Bhavan at 12 pm to meet the President and register their protest against the government's demonetisation move. With only one day left, the Winter Session of Parliament is on the verge of a washout as it failed to transact any business again Thursday due to the standoff between the government and Opposition over demonetisation, AgustaWestland scam and some other issues. The government dared Congress President Sonia Gandhi on Thursday to respond in Parliament to allegations against her party over AgustaWestland scam, claiming that the opposition party is stalling both Houses as it has a lot to hide. On the other side, Rahul Gandhi had on Wednesday alleged that he had detailed information about "personal corruption" by Prime Minister Narendra Modi which he wants to present in Lok Sabha but is not being allowed to do so by the PM. (This report first appeared in DNA)

Demonetisation:  Indian Parliament's adjourned; parties must introspect on difference between dissent, disruption, says vice-president Hamid Ansari

Indian Prime Minister Narendra Modi on Friday said that Indira Gandhi rejected suggestions for demonetisation in 1971, saying she wanted to win elections.

Indira Gandhi sold out India by ignoring advice to demonetise, the prime minister said.

Implementation of demonetisation policy was required in 1971, but it was implemented now, Modi said, hitting out at the opposition during the ruling party&#39;s parliamentary meet. &quot;For the Congress, party is bigger than nation; but for us, the nation is above the party,&quot; he said.

Modi also thanked chief ministers of India&#39;s eastern states of Odisha and Bihar for supporting demonetisation.

Prime Minister Modi said that unlike earlier when opposition parties stalled House proceedings against scams, Congress-led parties are now doing so against government&#39;s steps to curb black money and corruption.

He pitched for a&nbsp;digital economy as he urged masses to adopt it as a &quot;way of life&quot; to rid the society of corruption and black money.

Modi also noted that the Wanchoo Committee in the&nbsp;early 70s had recommended demonetisation when Indira Gandhi was Prime Minister, recalling that the then senior Left leader Jyotirmoy Basu had demanded its quick implementation, parliamentary affairs minister Ananth Kumar told reporters following the meeting.

On a day that marks the anniversary of Bangladesh&#39;s liberation, Modi also targeted the opposition over its remarks on the army&#39;s surgical strikes.

The opposition in 1971-72 did not seek evidence of the army&#39;s valour unlike that of today, he said.

(WION with inputs from agencies)

Then prime minister Indira Gandhi sold the nation by not adopting demonetisation, Modi alleged

Indian Prime Minister Narendra Modi on Friday said that Indira Gandhi rejected suggestions for demonetisation in 1971, saying she wanted to win elections. Indira Gandhi sold out India by ignoring advice to demonetise, the prime minister said. Implementation of demonetisation policy was required in 1971, but it was implemented now, Modi said, hitting out at the opposition during the ruling party's parliamentary meet. "For the Congress, party is bigger than nation; but for us, the nation is above the party," he said. Modi also thanked chief ministers of India's eastern states of Odisha and Bihar for supporting demonetisation. Prime Minister Modi said that unlike earlier when opposition parties stalled House proceedings against scams, Congress-led parties are now doing so against government's steps to curb black money and corruption. He pitched for a digital economy as he urged masses to adopt it as a "way of life" to rid the society of corruption and black money. Modi also noted that the Wanchoo Committee in the early 70s had recommended demonetisation when Indira Gandhi was Prime Minister, recalling that the then senior Left leader Jyotirmoy Basu had demanded its quick implementation, parliamentary affairs minister Ananth Kumar told reporters following the meeting. On a day that marks the anniversary of Bangladesh's liberation, Modi also targeted the opposition over its remarks on the army's surgical strikes. The opposition in 1971-72 did not seek evidence of the army's valour unlike that of today, he said. (WION with inputs from agencies)

Demonetisation should have been done in 1971: Indian Prime Minister

Bracing for a showdown in Parliament, the BJP and Congress have instructed their members in both Houses to ensure their presence for the remainder of the Winter session which resumes today. The issue of demonetisation has cast a shadow on the winter session of Parliament with the opposition parties protesting the governments move to scrap high-value notes.

The Congress has issued the whip amid concerns in its ranks that the ruling side would rake up the AgustaWestland helicopter issue to target its top brass to &quot;divert attention from hardships faced by people due to demonetisation&quot;, sources in the party said.

Before Parliament reconvenes, leaders of Opposition parties will hold a meeting in the morning to decide their strategy in the House.

On its part, the ruling BJP also issued a whip to ensure that the treasury benches are in full strength in both the Lok Sabha and Rajya Sabha.

Prime Minister Narendra Modi will hold a meeting with key ministers before Parliament convenes this morning to decide their strategy.

Finance minister Arun Jaitley has urged the Congress and other opposition parties to start a debate on demonetisation.

Information and broadcasting minister Venkaiah Naidu said Prime Minister Narendra Modi will be present in Parliament for the three remaining days of the Session and can participate in proceedings for either of the House depending on the need.

Congress sources blamed the government, saying it has made no attempt to reach out to the Opposition to break the logjam.

Both the government and the Opposition, especially the Congress and Trinamool Congress, have stuck to their stand that the debate be held under a Rule that entails voting which the treasury benches have ruled out.

Last Friday, the Congress changed its stand and expressed readiness for a debate under &quot;no rule&quot;. &nbsp;

Pitching for a debate, finance minister Arun Jaitley urged the Congress and other opposition parties to &quot;rise above slogans...&quot; and participate constructively.

The winter session, which began on November 16, is scheduled to conclude on Friday, with indications that it could be a virtual washout.

Parliament has seen little transaction of any substantial business because of the Opposition ruckus over demonetisation and some other issues.

Both the Lok Sabha and the Rajya Sabha continued to be deadlocked over the way a debate should take place on demonetisation, which was announced by the Prime Minister on November 8.

Ever since the session began, the Lok Sabha has managed to conduct only two legislative actions -- passage of Income Tax amendment bill and approval of Supplementary Demand for Grants -- that too amid din and without much debate.

The Rajya Sabha has functioned normally only on the first day of the session when the debate on demonetisation was initiated and held for about 5 hours.

(PTI)

He is in Parliament; information minister Venkaiah Naidu had said he could participate in proceedings depending on need

Bracing for a showdown in Parliament, the BJP and Congress have instructed their members in both Houses to ensure their presence for the remainder of the Winter session which resumes today. The issue of demonetisation has cast a shadow on the winter session of Parliament with the opposition parties protesting the governments move to scrap high-value notes. The Congress has issued the whip amid concerns in its ranks that the ruling side would rake up the AgustaWestland helicopter issue to target its top brass to "divert attention from hardships faced by people due to demonetisation", sources in the party said. Before Parliament reconvenes, leaders of Opposition parties will hold a meeting in the morning to decide their strategy in the House. On its part, the ruling BJP also issued a whip to ensure that the treasury benches are in full strength in both the Lok Sabha and Rajya Sabha. Prime Minister Narendra Modi will hold a meeting with key ministers before Parliament convenes this morning to decide their strategy. Finance minister Arun Jaitley has urged the Congress and other opposition parties to start a debate on demonetisation. Information and broadcasting minister Venkaiah Naidu said Prime Minister Narendra Modi will be present in Parliament for the three remaining days of the Session and can participate in proceedings for either of the House depending on the need. Congress sources blamed the government, saying it has made no attempt to reach out to the Opposition to break the logjam. Both the government and the Opposition, especially the Congress and Trinamool Congress, have stuck to their stand that the debate be held under a Rule that entails voting which the treasury benches have ruled out. Last Friday, the Congress changed its stand and expressed readiness for a debate under "no rule". Pitching for a debate, finance minister Arun Jaitley urged the Congress and other opposition parties to "rise above slogans..." and participate constructively. The winter session, which began on November 16, is scheduled to conclude on Friday, with indications that it could be a virtual washout. Parliament has seen little transaction of any substantial business because of the Opposition ruckus over demonetisation and some other issues. Both the Lok Sabha and the Rajya Sabha continued to be deadlocked over the way a debate should take place on demonetisation, which was announced by the Prime Minister on November 8. Ever since the session began, the Lok Sabha has managed to conduct only two legislative actions -- passage of Income Tax amendment bill and approval of Supplementary Demand for Grants -- that too amid din and without much debate. The Rajya Sabha has functioned normally only on the first day of the session when the debate on demonetisation was initiated and held for about 5 hours. (PTI)

Demonetisation: Prime Minister Modi may speak in Parliament today

Indian defence forces and defence production would be &quot;open to scrutiny&quot; and &quot;control&quot; by the United States, which will make India its &quot;junior ally&quot; following finalisation of the &quot;Major Defense Partner&quot;&nbsp;designation, CPI(M) has alleged.

Noting that the US has placed the details of &quot;Major Defense Partner&quot;&nbsp;designation for Senate approval as part of FY 2017 National Defense Authorization Act (NDAA), the party said the Narendra Modi government &quot;has not even made a statement in Parliament about such a significant deal&quot;.

&quot;The country can see the US side of the deal by reading the 2017 NDAA, but remains ignorant of the Indian commitment as a &#39;Major Defense Partner&#39; of the United States,&quot; CPI(M) General Secretary Sitaram Yechury said.

In a letter to the Prime Minister, he referred to Paragraph (E) of Section 1292 of 2017 NDAA, &quot;which talks of &#39;mechanisms to verify the security of defense articles, defense services, and related technology, such as appropriate cyber security and end user monitoring agreements&#39; for items and technologies sold to India.

&quot;Paragraph (F) thereafter states that India will align its &#39;export control and procurement regimes with those of the United States&#39;.&quot; 
Yechury further said, &quot;Paragraph(I) of Section 1292, 2017 NDAA makes the facts amply clear. It explicitly highlights enhanced &#39;defense and security cooperation with India in order to advance United States interests in South Asia and greater Indo-Asia-Pacific regions&#39;.&quot;

&quot;This is, sadly, a commitment by your government to become a junior ally of the US in our own neighbourhood. This represents the final nail in the coffin of India&#39;s independent foreign policy,&quot; Yechury said in his letter to Modi. He said, &quot;These are significant concessions made by your government which will make Indian defence forces open to American scrutiny, and Indian defence production under the control of the United States of America.&quot;

&quot;Serious apprehensions arise about your government compromising India&#39;s sovereignty and strategic autonomy,&quot; the CPI(M) leader said, quoting the US statement as saying that the &quot;Major Defense Partner&quot;&nbsp;designation was &quot;a status unique to India&quot; and brings &quot;India to a level at par with that of the United States&#39; closest allies and partners&quot;.

&quot;This is a significant departure from India&#39;s long- standing policy on defence relations and it has been done without taking Parliament into confidence,&quot; Yechury said.

 
The finalisation of the &quot;Major Defense Partner&quot;&nbsp;designation to India by the US had followed the signing of the Logistics Exchange Memorandum of Agreement (LEMOA) between the US and Indian defence ministries earlier this year.

Yechury said, &quot;It is particularly galling that all these commitments, as part of the announcement of the &#39;Major Defense Partner&#39; designation, were made by the Defence Ministry when both Houses of Parliament were, and still are, in session.

&quot;This is in complete contravention of the established norms and practices of our parliamentary system,&quot; he said.

He said he was constrained to state that &quot;your government seems particularly keen on ignoring Parliament, because even the text of LEMOA has so far not been placed before either of the Houses or the Standing Committee on Defence.

&quot;It needs no reminder that Parliament represents the people of this great country and by choosing to willfully ignore Parliament, you are disrespecting 1.3 billion Indians,&quot; he said and demanded that full texts of these documents are tabled in Parliament during the ongoing session and made public immediately.

(PTI)

'This represents the final nail in the coffin of India's independent foreign policy,' CPI(M) general secretary Yechury wrote to PM Modi

Indian defence forces and defence production would be "open to scrutiny" and "control" by the United States, which will make India its "junior ally" following finalisation of the "Major Defense Partner" designation, CPI(M) has alleged. Noting that the US has placed the details of "Major Defense Partner" designation for Senate approval as part of FY 2017 National Defense Authorization Act (NDAA), the party said the Narendra Modi government "has not even made a statement in Parliament about such a significant deal". "The country can see the US side of the deal by reading the 2017 NDAA, but remains ignorant of the Indian commitment as a 'Major Defense Partner' of the United States," CPI(M) General Secretary Sitaram Yechury said. In a letter to the Prime Minister, he referred to Paragraph (E) of Section 1292 of 2017 NDAA, "which talks of 'mechanisms to verify the security of defense articles, defense services, and related technology, such as appropriate cyber security and end user monitoring agreements' for items and technologies sold to India. "Paragraph (F) thereafter states that India will align its 'export control and procurement regimes with those of the United States'." Yechury further said, "Paragraph(I) of Section 1292, 2017 NDAA makes the facts amply clear. It explicitly highlights enhanced 'defense and security cooperation with India in order to advance United States interests in South Asia and greater Indo-Asia-Pacific regions'." "This is, sadly, a commitment by your government to become a junior ally of the US in our own neighbourhood. This represents the final nail in the coffin of India's independent foreign policy," Yechury said in his letter to Modi. He said, "These are significant concessions made by your government which will make Indian defence forces open to American scrutiny, and Indian defence production under the control of the United States of America." "Serious apprehensions arise about your government compromising India's sovereignty and strategic autonomy," the CPI(M) leader said, quoting the US statement as saying that the "Major Defense Partner" designation was "a status unique to India" and brings "India to a level at par with that of the United States' closest allies and partners". "This is a significant departure from India's long- standing policy on defence relations and it has been done without taking Parliament into confidence," Yechury said. The finalisation of the "Major Defense Partner" designation to India by the US had followed the signing of the Logistics Exchange Memorandum of Agreement (LEMOA) between the US and Indian defence ministries earlier this year. Yechury said, "It is particularly galling that all these commitments, as part of the announcement of the 'Major Defense Partner' designation, were made by the Defence Ministry when both Houses of Parliament were, and still are, in session. "This is in complete contravention of the established norms and practices of our parliamentary system," he said. He said he was constrained to state that "your government seems particularly keen on ignoring Parliament, because even the text of LEMOA has so far not been placed before either of the Houses or the Standing Committee on Defence. "It needs no reminder that Parliament represents the people of this great country and by choosing to willfully ignore Parliament, you are disrespecting 1.3 billion Indians," he said and demanded that full texts of these documents are tabled in Parliament during the ongoing session and made public immediately. (PTI)

Indian defence forces to be 'Junior ally' of US, says Indian left party

Indian Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India&#39;s financial circles, to spearhead a radical move to abolish 86 per cent of the country&#39;s cash overnight and take aim at the huge shadow economy.

Hasmukh Adhia, the bureaucrat, and five others privy to the plan were sworn to utmost secrecy, say sources with knowledge of the matter. They were supported by a young team of researchers working in two rooms at Modi&#39;s New Delhi residence, as he plotted his boldest reform since coming to power in 2014.

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<h5>Immediately after Modi announced the demonetisation, Adhia tweeted: &#39;This is the biggest and the boldest step by the Government for containing black money&#39;</h5>
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When announced, the abolition of high-value banknotes of 500 and 1,000 rupees ($7.50 and $15) came as a bolt from the blue.

The secrecy was aimed at outflanking those who might profit from prior knowledge, by pouring cash into gold, property and other assets and hide illicit wealth.

Previously unreported details of Modi&#39;s handling of the so-called &quot;demonetisation&quot; open a window onto the hands-on role he played in implementing a key policy, and how he was willing to act quickly even when the risks were high.

While some advocates say the scrapping of the banknotes will bring more money into the banking system and raise tax revenues, millions of Indians are furious at having to queue for hours outside banks to exchange or deposit their old money.

Labourers have also been unpaid and produce has rotted in markets as cash stopped changing hands. Not enough replacement notes were printed in preparation for the upheaval, and it could take months for things to return to normal.

With India&#39;s most populous state, Uttar Pradesh, holding an election in early 2017 that could decide Modi&#39;s chances of a second term in office, there is little time for the hoped-for benefits of his cash swap to outweigh short-term pain.

Modi has staked his reputation and popularity on the move.

&quot;I have done all the research and, if it fails, then I am to blame,&quot; Modi told a cabinet meeting on Nov. 8 shortly before the move was announced, according to three ministers who attended.

Direct line to Modi

Overseeing the campaign, with support from the backroom team camped out at Modi&#39;s sprawling bungalow in the capital, was Adhia, a top finance ministry official.

The 58-year-old served as principal secretary to Modi from 2003-06 when he was chief minister of Gujarat state, establishing a relationship of trust with his boss and introducing him to yoga.

Colleagues interviewed by Reuters said he had a reputation for integrity and discretion.

Adhia was named revenue secretary in Sept. 2015, reporting formally to finance minister Arun Jaitley. In reality, he had a direct line to Modi and they would speak in their native Gujarati when they met to discuss issues in depth.

In the world&#39;s largest democracy the demonetisation was revolutionary: it called into question the state&#39;s promise to &quot;pay the bearer&quot; the face value on every banknote.

At a stroke, Modi scrapped money worth 15.4 trillion rupees ($220 billion), equal to 86 per cent of cash in Asia&#39;s third-largest economy.

The idea is backed by some economists, although the speed of its implementation is widely seen as radical.

&quot;One is never ready for this kind of disruption, but it is a constructive disruption,&quot; said Narendra Jadhav, a 31-year veteran and former chief economist of India&#39;s central bank who now represents Modi&#39;s party in the upper house of parliament.

Modi, in his TV address to the nation, cautioned that people could face temporary hardship as replacement 500 and 2,000 rupee notes were introduced. Calling for an act of collective sacrifice, he promised steps to soften the blow for the nine in 10 Indians who live in the cash economy.

&quot;Biggest, boldest step&rdquo;

Immediately after the address, Adhia sent a tweet: &quot;This is the biggest and the boldest step by the Government for containing black money.&quot;

The boast harked back to Modi&#39;s election vow to recover black money from abroad that had resonated with voters fed up with the corruption scandals that plagued the last Congress government. Yet in office, he struggled to keep his promise.

Over more than a year, Modi commissioned research from officials at the finance ministry, the central bank and think-tanks on how to advance his fight against black money, a close aide said.

He demanded answers to questions such as: How quickly India could print new banknotes; how to distribute them; would state banks benefit if they received a rush of new deposits; and who would gain from demonetisation?

The topics were broken up to prevent anyone from joining the dots and concluding that a cash swap was in the offing.

&quot;We didn&#39;t want to let the cat out of the bag,&quot; said a senior official directly involved. &quot;Had people got a whiff of the decision, the whole exercise would have been meaningless.&quot;

Under Adhia&#39;s oversight, the team of researchers assembled and modeled the findings in what was, for it, a theoretical exercise.

It was made up of young experts in data and financial analysis; some ran Modi&#39;s social media accounts and a smartphone app that he used to solicit public feedback.

Yet for all the planning, Modi and Adhia knew they could not foresee every eventuality, and were willing to move swiftly.

The announcement caused chaos, with huge queues forming at banks when they reopened after a short holiday.

New 2,000 rupee notes were hard to come by and barely any new 500 rupee notes had been printed. India&#39;s 200,000 cash dispensers could not handle the new, smaller, notes and it would take weeks to reconfigure them.

Filling ATMs with the 8 trillion rupees ($117 billion) in new banknotes that the finance ministry reckons are needed to restore liquidity to the economy is even trickier.

In a best-case scenario, in which India&#39;s four banknote presses churned out new 500 and 2,000 rupee notes designed to replace the abolished ones, it would take at least three months to hit that target.

Secrecy paramount

Secrecy was paramount, but clues had been left.

Back in April, analysts at State Bank of India said that demonetisation of large-denomination notes was possible.

The Reserve Bank of India, the central bank, also disclosed in May that it was making preparations for a new series of banknotes that were confirmed in August when it announced it had approved a design for a new 2,000 rupee note.

The printing presses had only just started turning when the media finally started to run with the story in late October.

&quot;The plan was to introduce it around November 18, but there was a clear sign that it could get leaked,&quot; said one person with direct knowledge who, like others interviewed by Reuters, asked not to be named due to the sensitivity of the matter.

Some officials in the finance ministry had expressed doubts about scrapping high-value notes when the idea came up for discussion. They now feel resentment at the secrecy in which Adhia rammed through the plan on Modi&#39;s orders.

They also say the plan was flawed because of a failure to ramp up printing of new notes ahead of time.

Other critics say the Adhia team fell prey to a form of &quot;groupthink&quot; that ignored outside advice.

In the words of one former top official who has worked at the finance ministry and central bank: &quot;They don&#39;t know what&#39;s happening in the real world.&quot;

(Reuters)

The team, backed up by a young crew of researchers working out of PM Modi's home, was led by financial services secretary Hasmukh Adhia

Indian Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India's financial circles, to spearhead a radical move to abolish 86 per cent of the country's cash overnight and take aim at the huge shadow economy. Hasmukh Adhia, the bureaucrat, and five others privy to the plan were sworn to utmost secrecy, say sources with knowledge of the matter. They were supported by a young team of researchers working in two rooms at Modi's New Delhi residence, as he plotted his boldest reform since coming to power in 2014. Immediately after Modi announced the demonetisation, Adhia tweeted: 'This is the biggest and the boldest step by the Government for containing black money' × When announced, the abolition of high-value banknotes of 500 and 1,000 rupees ($7.50 and $15) came as a bolt from the blue. The secrecy was aimed at outflanking those who might profit from prior knowledge, by pouring cash into gold, property and other assets and hide illicit wealth. Previously unreported details of Modi's handling of the so-called "demonetisation" open a window onto the hands-on role he played in implementing a key policy, and how he was willing to act quickly even when the risks were high. While some advocates say the scrapping of the banknotes will bring more money into the banking system and raise tax revenues, millions of Indians are furious at having to queue for hours outside banks to exchange or deposit their old money. Labourers have also been unpaid and produce has rotted in markets as cash stopped changing hands. Not enough replacement notes were printed in preparation for the upheaval, and it could take months for things to return to normal. With India's most populous state, Uttar Pradesh, holding an election in early 2017 that could decide Modi's chances of a second term in office, there is little time for the hoped-for benefits of his cash swap to outweigh short-term pain. Modi has staked his reputation and popularity on the move. "I have done all the research and, if it fails, then I am to blame," Modi told a cabinet meeting on Nov. 8 shortly before the move was announced, according to three ministers who attended. Direct line to Modi Overseeing the campaign, with support from the backroom team camped out at Modi's sprawling bungalow in the capital, was Adhia, a top finance ministry official. The 58-year-old served as principal secretary to Modi from 2003-06 when he was chief minister of Gujarat state, establishing a relationship of trust with his boss and introducing him to yoga. Colleagues interviewed by Reuters said he had a reputation for integrity and discretion. Adhia was named revenue secretary in Sept. 2015, reporting formally to finance minister Arun Jaitley. In reality, he had a direct line to Modi and they would speak in their native Gujarati when they met to discuss issues in depth. In the world's largest democracy the demonetisation was revolutionary: it called into question the state's promise to "pay the bearer" the face value on every banknote. At a stroke, Modi scrapped money worth 15.4 trillion rupees ($220 billion), equal to 86 per cent of cash in Asia's third-largest economy. The idea is backed by some economists, although the speed of its implementation is widely seen as radical. "One is never ready for this kind of disruption, but it is a constructive disruption," said Narendra Jadhav, a 31-year veteran and former chief economist of India's central bank who now represents Modi's party in the upper house of parliament. Modi, in his TV address to the nation, cautioned that people could face temporary hardship as replacement 500 and 2,000 rupee notes were introduced. Calling for an act of collective sacrifice, he promised steps to soften the blow for the nine in 10 Indians who live in the cash economy. "Biggest, boldest step” Immediately after the address, Adhia sent a tweet: "This is the biggest and the boldest step by the Government for containing black money." The boast harked back to Modi's election vow to recover black money from abroad that had resonated with voters fed up with the corruption scandals that plagued the last Congress government. Yet in office, he struggled to keep his promise. Over more than a year, Modi commissioned research from officials at the finance ministry, the central bank and think-tanks on how to advance his fight against black money, a close aide said. He demanded answers to questions such as: How quickly India could print new banknotes; how to distribute them; would state banks benefit if they received a rush of new deposits; and who would gain from demonetisation? The topics were broken up to prevent anyone from joining the dots and concluding that a cash swap was in the offing. "We didn't want to let the cat out of the bag," said a senior official directly involved. "Had people got a whiff of the decision, the whole exercise would have been meaningless." Under Adhia's oversight, the team of researchers assembled and modeled the findings in what was, for it, a theoretical exercise. It was made up of young experts in data and financial analysis; some ran Modi's social media accounts and a smartphone app that he used to solicit public feedback. Yet for all the planning, Modi and Adhia knew they could not foresee every eventuality, and were willing to move swiftly. The announcement caused chaos, with huge queues forming at banks when they reopened after a short holiday. New 2,000 rupee notes were hard to come by and barely any new 500 rupee notes had been printed. India's 200,000 cash dispensers could not handle the new, smaller, notes and it would take weeks to reconfigure them. Filling ATMs with the 8 trillion rupees ($117 billion) in new banknotes that the finance ministry reckons are needed to restore liquidity to the economy is even trickier. In a best-case scenario, in which India's four banknote presses churned out new 500 and 2,000 rupee notes designed to replace the abolished ones, it would take at least three months to hit that target. Secrecy paramount Secrecy was paramount, but clues had been left. Back in April, analysts at State Bank of India said that demonetisation of large-denomination notes was possible. The Reserve Bank of India, the central bank, also disclosed in May that it was making preparations for a new series of banknotes that were confirmed in August when it announced it had approved a design for a new 2,000 rupee note. The printing presses had only just started turning when the media finally started to run with the story in late October. "The plan was to introduce it around November 18, but there was a clear sign that it could get leaked," said one person with direct knowledge who, like others interviewed by Reuters, asked not to be named due to the sensitivity of the matter. Some officials in the finance ministry had expressed doubts about scrapping high-value notes when the idea came up for discussion. They now feel resentment at the secrecy in which Adhia rammed through the plan on Modi's orders. They also say the plan was flawed because of a failure to ramp up printing of new notes ahead of time. Other critics say the Adhia team fell prey to a form of "groupthink" that ignored outside advice. In the words of one former top official who has worked at the finance ministry and central bank: "They don't know what's happening in the real world." (Reuters)

Demonetisation: Team of 6, sworn to secrecy, was behind move

On November 8, the Indian government demonetised -- it&nbsp;withdrew from circulation notes of Rs 500 and Rs 1,000 (worth around $7&nbsp;and $15&nbsp;respectively) to crack down on &quot;black money&quot;,&nbsp;or undeclared&nbsp;cash.

The Indian public were given until December 31, or 52 days, to exchange these notes at banks.

So, what&rsquo;s been happening to these notes?

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://wion.azureedge.net/photos/tracking%20demonetisation_infographics_revised-20161209031318.jpg" />
<div class="media-description">
Tracking demonetisation (WION)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

(WION)

What's happened to the Indian Rs 500 and Rs 1000 bank notes since demonetisation started?

On November 8, the Indian government demonetised -- it withdrew from circulation notes of Rs 500 and Rs 1,000 (worth around $7 and $15 respectively) to crack down on "black money", or undeclared cash. The Indian public were given until December 31, or 52 days, to exchange these notes at banks. So, what’s been happening to these notes? Tracking demonetisation (WION) × (WION)

Infographic: Tracking demonetisation

The Indian government will waive service tax for debit or credit card payments&nbsp;up to Rs 2,000. Any payment made by cash will not be exempt from the service tax, which at the moment is&nbsp;15 per cent&nbsp;for such transactions.

India&#39;s finance minister Arun Jaitley will table a notification in the parliament today

This comes exactly a month after Prime Minister Narendra Modi made a sudden announcement that Rs 500 and Rs 1,000 banknotes would be illegal after December 30.

The government said they wanted to tackle the black money menace and encourage the economy to turn digital.

Earlier, the Reserve Bank of India -- the country&#39;s central banking institution -- allowed people to keep Rs 20,000 in their digital wallets, up from the earlier limit of Rs 10,000.&nbsp;

Meanwhile, the Reserve Bank of India -- the country&#39;s central banking institution -- said 75 per cent of the old banknotes worth $170 billion have been returned till December 7.

(WION)

&nbsp;

Currently, people pay 15% service tax on every card transaction. Cash purchases are not exempt from the tax

The Indian government will waive service tax for debit or credit card payments up to Rs 2,000. Any payment made by cash will not be exempt from the service tax, which at the moment is 15 per cent for such transactions. India's finance minister Arun Jaitley will table a notification in the parliament today This comes exactly a month after Prime Minister Narendra Modi made a sudden announcement that Rs 500 and Rs 1,000 banknotes would be illegal after December 30. The government said they wanted to tackle the black money menace and encourage the economy to turn digital. Earlier, the Reserve Bank of India -- the country's central banking institution -- allowed people to keep Rs 20,000 in their digital wallets, up from the earlier limit of Rs 10,000. Meanwhile, the Reserve Bank of India -- the country's central banking institution -- said 75 per cent of the old banknotes worth $170 billion have been returned till December 7. (WION)

Demonetisation: No service tax on card payments up to Rs 2,000

A month after the demonetisation decision, people across the metropolis and adjoining areas are still struggling to lay hands on cash, adversely affecting their monthly payments and businesses.

The main reason behind these hardships, according to people PTI spoke to, are the dysfunctional ATMs that continue to remain dry even a month after the government scrapped notes of Rs 500 and Rs 1000 on November 8.

&quot;Prime Minister Narendra Modi is appealing to everyone to adopt cashless methods to make small or big deals. Going by this, why do we need so many ATMs across the country? Uproot them. These are not useful anyway. These ATMs have gone cashless,&quot; said an irked Kalpesh Jain, a cloth trader in suburban Ghatkopar here.

Even this morning, Mumbaikars and people living on the city outskirts were seen queueing up outside banks and ATMs to meet their monthly payments. Many were upset about banks also refusing payments to customers due to cash shortage.

Waris Sheikh, a professional working in Lower Parel area said, &quot;Since last two days, a bank branch in the Kamla Mill compound has stopped giving cash. There is a board outside the office saying we are taking deposits only.&quot;

A homemaker from neighbouring Thane district, Vimala Tripathi, who also sounded frustrated, said, &quot;One month has gone by but there has been no significant improvement in the circulation of money. We still have to stand in long queues in banks and ATMs where there is no cash.&quot;

Another homemaker, Sunita from suburban Bhayandar, said, &quot;The latest gift by the government is the Rs 2000 note which cannot be used to buy milk, bread, fruits or vegetables. One month&#39;s time was enough to wipe out the shortage of lower denomination notes in the market&quot;.

Traders also complained that their business has suffered by over 40 to 50 per cent as demonetisation has badly hit the purchasing power of the people, even as the&nbsp;government continues to make a push for cashless options.

A restaurant owner in Ghatkopar said, &quot;Unfortunately, people have not been so enthusiastic to pay by Paytm or Freecharge or whatever. Many of them come at my restaurant with a Rs 2000 note, whom we have to turn away.&quot;

However, there are some who are still hopeful that all these troubles would end soon as promised by Modi who had urged people to cooperate with the government till December 31.

&quot;Modiji had sought 50 days, and now 30 days have passed. We should give him 20 more days and hopefully wait for the situation to improve. But the sad part is that even after 30 days there is hardly any improvement,&quot; a tea-seller from suburban Andheri said.

(PTI)

The main reason behind the cash shortage are the dysfunctional ATMs that continue to remain dry

A month after the demonetisation decision, people across the metropolis and adjoining areas are still struggling to lay hands on cash, adversely affecting their monthly payments and businesses. The main reason behind these hardships, according to people PTI spoke to, are the dysfunctional ATMs that continue to remain dry even a month after the government scrapped notes of Rs 500 and Rs 1000 on November 8. "Prime Minister Narendra Modi is appealing to everyone to adopt cashless methods to make small or big deals. Going by this, why do we need so many ATMs across the country? Uproot them. These are not useful anyway. These ATMs have gone cashless," said an irked Kalpesh Jain, a cloth trader in suburban Ghatkopar here. Even this morning, Mumbaikars and people living on the city outskirts were seen queueing up outside banks and ATMs to meet their monthly payments. Many were upset about banks also refusing payments to customers due to cash shortage. Waris Sheikh, a professional working in Lower Parel area said, "Since last two days, a bank branch in the Kamla Mill compound has stopped giving cash. There is a board outside the office saying we are taking deposits only." A homemaker from neighbouring Thane district, Vimala Tripathi, who also sounded frustrated, said, "One month has gone by but there has been no significant improvement in the circulation of money. We still have to stand in long queues in banks and ATMs where there is no cash." Another homemaker, Sunita from suburban Bhayandar, said, "The latest gift by the government is the Rs 2000 note which cannot be used to buy milk, bread, fruits or vegetables. One month's time was enough to wipe out the shortage of lower denomination notes in the market". Traders also complained that their business has suffered by over 40 to 50 per cent as demonetisation has badly hit the purchasing power of the people, even as the government continues to make a push for cashless options. A restaurant owner in Ghatkopar said, "Unfortunately, people have not been so enthusiastic to pay by Paytm or Freecharge or whatever. Many of them come at my restaurant with a Rs 2000 note, whom we have to turn away." However, there are some who are still hopeful that all these troubles would end soon as promised by Modi who had urged people to cooperate with the government till December 31. "Modiji had sought 50 days, and now 30 days have passed. We should give him 20 more days and hopefully wait for the situation to improve. But the sad part is that even after 30 days there is hardly any improvement," a tea-seller from suburban Andheri said. (PTI)

Demonetisation: 30 days on, cash crunch still continues

Prime Minister Narendra Modi has won the online reader&#39;s poll for TIME Person of the Year 2016, beating out other world leaders like US President-elect Donald Trump, incumbent US leader Barack Obama and Russian President Vladimir Putin.

Modi won with 18 per cent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 per cent of the &#39;yes&#39; vote.

Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 per cent) and US Presidential nominee Hillary Clinton (4 per cent), Time said.

Time&#39;s editors will decide the final Person of the Year later this week, but the online poll results provide a look at how the world sees these figures and Modi emerged as the most influential figure in 2016, according to the online poll. 
Time said the reader poll is an &quot;important window&quot; into who they think most shaped 2016.

It is for the second time that Modi has won the online readers&#39; poll for Time Person of the Year title, securing the honour in 2014, when he had got more than 16 per cent of the almost five million votes cast.

For the fourth year in a row, Modi is among the contenders for Time&#39;s &#39;Person of the Year&#39; honour, which the US publication bestows every year to the one &quot;who has most influenced the news and our world in the past year, for good or ill&quot;.

Last year German Chancellor Angela Merkel was Time&#39;s &#39;Person of the Year&#39;.

Time said in recent months, Modi saw high approval ratings from Indians, according to a September Pew poll. It added that Modi has come under scrutiny recently for getting rid of 500- and 1,000-rupee notes, impacting cash-based businesses and threatening India&#39;s economy.

Current poll results, analysed by poll host Apester, found that preferences differed across the world and the United States. Modi performed particularly well among Indian voters as well as those in California and New Jersey. 
Modi had been in the lead in this year?s online poll and according to the initial votes cast, he had got 21 per cent voting in his favour.

For a while Assange had overtaken Trump for the lead in the online poll, getting 10 per cent of all the &quot;yes&quot; votes cast by participants, Time had said.

Among the contenders this year are former Secretary of State Hillary Clinton, FBI Chief James Comey, Apple CEO Tim Cook, parents of slain Muslim-American soldier Humanyun Khan, Khizr and Ghazala Khan, North Korean leader Kim Jong Un, British Prime Minister Theresa May and Chinese leader Xi Jinping.

Time had also analysed the moments from 2016 when this year&#39;s poll contenders were most talked about. For Modi it was October 16 when the Indian leader had suggested during a summit of BRICS nations in Goa that Pakistan is the &quot;mothership&quot; for terrorism.

(PTI)

Modi won with 18 per cent of the vote when the poll closed last night, getting significantly more votes than his closest contenders

Prime Minister Narendra Modi has won the online reader's poll for TIME Person of the Year 2016, beating out other world leaders like US President-elect Donald Trump, incumbent US leader Barack Obama and Russian President Vladimir Putin. Modi won with 18 per cent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 per cent of the 'yes' vote. Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 per cent) and US Presidential nominee Hillary Clinton (4 per cent), Time said. Time's editors will decide the final Person of the Year later this week, but the online poll results provide a look at how the world sees these figures and Modi emerged as the most influential figure in 2016, according to the online poll. Time said the reader poll is an "important window" into who they think most shaped 2016. It is for the second time that Modi has won the online readers' poll for Time Person of the Year title, securing the honour in 2014, when he had got more than 16 per cent of the almost five million votes cast. For the fourth year in a row, Modi is among the contenders for Time's 'Person of the Year' honour, which the US publication bestows every year to the one "who has most influenced the news and our world in the past year, for good or ill". Last year German Chancellor Angela Merkel was Time's 'Person of the Year'. Time said in recent months, Modi saw high approval ratings from Indians, according to a September Pew poll. It added that Modi has come under scrutiny recently for getting rid of 500- and 1,000-rupee notes, impacting cash-based businesses and threatening India's economy. Current poll results, analysed by poll host Apester, found that preferences differed across the world and the United States. Modi performed particularly well among Indian voters as well as those in California and New Jersey. Modi had been in the lead in this year?s online poll and according to the initial votes cast, he had got 21 per cent voting in his favour. For a while Assange had overtaken Trump for the lead in the online poll, getting 10 per cent of all the "yes" votes cast by participants, Time had said. Among the contenders this year are former Secretary of State Hillary Clinton, FBI Chief James Comey, Apple CEO Tim Cook, parents of slain Muslim-American soldier Humanyun Khan, Khizr and Ghazala Khan, North Korean leader Kim Jong Un, British Prime Minister Theresa May and Chinese leader Xi Jinping. Time had also analysed the moments from 2016 when this year's poll contenders were most talked about. For Modi it was October 16 when the Indian leader had suggested during a summit of BRICS nations in Goa that Pakistan is the "mothership" for terrorism. (PTI)

Indian Prime Minister Modi wins online reader's poll for TIME person of the year

Indian services activity dived into contraction in November after Prime Minister Narendra Modi&#39;s surprise move to withdraw high denomination banknotes led to a sharp decline in demand, a survey showed on Monday.

The latest data, coupled with another last week that showed factory activity slumped as well, offers the first glimpse of the massive hit the economy is likely to take from Modi&#39;s demonetisation drive.

The Nikkei/Markit Services Purchasing Managers&#39; Index sank to 46.7 in November from October&#39;s 54.5, the first time since June 2015 that the index has gone below the 50 mark that separates growth from contraction.

It was also the biggest one-month drop since November 2008, just after the collapse of Lehman Brothers triggered the global financial crisis.

&quot;The latest set of gloomy PMI figures for the Indian service sector shows that companies were heavily impacted by the 500 and 1,000 rupee notes ban,&quot; said Pollyana De Lima, economist at survey compiler IHS Markit.

Modi&#39;s decision last month to scrap high-value banknotes, aimed at curbing corruption and tax evasion, removed 86 per cent of the currency in circulation virtually overnight, and rationed available cash among India&#39;s vast 1.2 billion population.

IHS Markit said the cash-driven economy saw financial services, hotels, restaurants, renting and business activities suffer the most as consumers curbed discretionary spending.

India&#39;s services sector makes up over 60 per cent of gross domestic product, so a contraction there is likely to drastically weaken the growth outlook.

A slowdown could rob India of its fastest growing major economy tag. Some of the more pessimistic views are that growth will halve from the annual 7.3 per cent clocked in July-September.

The new business sub-index that measures both foreign and domestic demand tumbled to 46.7 from 54.3 in October, according to the PMI survey, the first contraction in 1-1/2 years and its biggest month-on-month fall in eight years.

Firms also discounted prices at a steeper rate than in October, the survey showed, to try and convince buyers to part with the limited available cash.

&quot;The reduction in money supply curbed inflation in November. In light of these numbers, further cuts to the benchmark rate are expected,&quot; De Lima said.

A Reuters poll last week showed the Reserve Bank of India would cut its repo rate by 25 basis points to 6.00 percent at its two-day meeting that ends Dec. 7.

The composite PMI, which includes both manufacturing and services, fell to 49.1 in November from 55.4.

(Reuters)

It was also the biggest one-month drop since November 2008, just after the collapse of Lehman Brothers triggered the global financial crisis

Indian services activity dived into contraction in November after Prime Minister Narendra Modi's surprise move to withdraw high denomination banknotes led to a sharp decline in demand, a survey showed on Monday. The latest data, coupled with another last week that showed factory activity slumped as well, offers the first glimpse of the massive hit the economy is likely to take from Modi's demonetisation drive. The Nikkei/Markit Services Purchasing Managers' Index sank to 46.7 in November from October's 54.5, the first time since June 2015 that the index has gone below the 50 mark that separates growth from contraction. It was also the biggest one-month drop since November 2008, just after the collapse of Lehman Brothers triggered the global financial crisis. "The latest set of gloomy PMI figures for the Indian service sector shows that companies were heavily impacted by the 500 and 1,000 rupee notes ban," said Pollyana De Lima, economist at survey compiler IHS Markit. Modi's decision last month to scrap high-value banknotes, aimed at curbing corruption and tax evasion, removed 86 per cent of the currency in circulation virtually overnight, and rationed available cash among India's vast 1.2 billion population. IHS Markit said the cash-driven economy saw financial services, hotels, restaurants, renting and business activities suffer the most as consumers curbed discretionary spending. India's services sector makes up over 60 per cent of gross domestic product, so a contraction there is likely to drastically weaken the growth outlook. A slowdown could rob India of its fastest growing major economy tag. Some of the more pessimistic views are that growth will halve from the annual 7.3 per cent clocked in July-September. The new business sub-index that measures both foreign and domestic demand tumbled to 46.7 from 54.3 in October, according to the PMI survey, the first contraction in 1-1/2 years and its biggest month-on-month fall in eight years. Firms also discounted prices at a steeper rate than in October, the survey showed, to try and convince buyers to part with the limited available cash. "The reduction in money supply curbed inflation in November. In light of these numbers, further cuts to the benchmark rate are expected," De Lima said. A Reuters poll last week showed the Reserve Bank of India would cut its repo rate by 25 basis points to 6.00 percent at its two-day meeting that ends Dec. 7. The composite PMI, which includes both manufacturing and services, fell to 49.1 in November from 55.4. (Reuters)

Indian services activity plunges into contraction in November on cash crackdown

It doesn&#39;t get more direct than what President Ashraf Ghani of Afghanistan had to say at Amritsar on Sunday.

&quot;Pakistan,&quot; he told representatives of nearly 50 countries or organisations, including Pakistan foreign affairs and security adviser Sartaj Aziz, who had gathered in the northern Indian town for the sixth edition of the Heart of Asia - Istanbul Process on Afghanistan,&nbsp;&quot;has pledged 500 million dollars for Afghanistan&rsquo;s development. This amount, Mr Aziz, can be spent to fight terrorists and extremists in Pakistan.&quot;

TV cameras did not capture Aziz&#39;s expression but the sting in&nbsp;Ghani&#39;s words was not lost on anyone. The Afghan President did not stop at that. 
 
&ldquo;A key Taliban leader,&quot; the Afghan President said, &quot;has himself admitted to getting sanctuary in Pakistan. He said that without Pakistan support, we would have&nbsp;not lasted for more than a month.&rdquo; 
 
As if on cue, Prime Minister Narendra Modi of India, who co-chaired the conference with Ghani, called for action &quot;against those who support, shelter, train and finance&quot; terrorists.&nbsp;

&quot;Silence and inaction against terrorism in Afghanistan and our region will only embolden terrorists and their masters,&quot; he continued in the same vein.

This double-barrelled attack on Pakistan, by the Afghan and Indian leaders, was in keeping with India&#39;s attempts of late to shame their common neighbour and further isolate it diplomatically.&nbsp;The bonhomie between Kabul and New Delhi extended to the bilateral talks between Ghani and Modi on the margins of the conference.

Economic partnership via trade and connectivity, development assistance and security cooperation were among the bilateral, regional and global issues that came up for discussion in their meeting.

Indian foreign ministry spokesperson Vikas Swarup said that Ghani and Modi agreed to strengthen counter-terrorism cooperation to combat especially the cross-border nature of the scourge which had caused immense suffering to the people of India and Afghanistan.

Both countries decided to operationalise the additional one billion meant as Indian development assistance for infrastructure and connectivity projects. They also plan to introduce an air transport corridor between India and Afghanistan&nbsp;to give India and Afghan consumers and producers unimpeded access to each other&#39;s products and services.

Modi was to amplify it later by saying that &quot;Afghanistan should be at the centre of our connectivity networks, not peripheral to them. On our part, we see Afghanistan as the hub for strengthening links of connectivity between South Asia and Central Asia&quot;.&nbsp;

&quot;We,&quot; he said, &quot;cannot deny that the more connected Afghanistan is with the regional arteries of trade, capital and markets, the more assured would be its economic growth and progress. President Ghani and I have converged on the priority of strengthening trade and transport linkages with other partners in the region.&quot;

For his part, Ghani said that all the countries in Afghanistan&#39;s neighbourhood and beyond &quot;need to identify cross-border terrorism and a fund to combat terrorism&quot;. He lauded India&#39;s development role in his war-torn country by saying that Indian assistance is transparent and came without without strings attached. &quot;There are no hidden agreements [or] secret conditions...it is convergence of interests and values of two states inspired by the belief in cooperative advantage.&quot;

Aziz defended by saying in his intervention afterwards at the conference that &quot;it is simplistic to blame only one country for the recent upsurge in violence&quot; in Afghanistan. In an oblique reference to the continued India - Pakistan tensions, he said that peaceful resolution of outstanding disputes will further improve regional cooperation and connectivity in the region. (Pakistan does not allow India access through its territory for exporting goods to Afghanistan.) 
 
However, at a joint news conference with Deputy Foreign Minister Hekmat Karzai of Afghanistan, Indian Finance Minister Arun Jaitley (standing in for Foreign Minister Sushma Swaraj, who is indisposed) said that terrorism was at the very core of the deliberations and that the tone had been set by Ghani and Modi earlier in the day. 
 
Karzai, in turn, spoke about how Pakistan, without naming it, is nurturing and flirting with terrorism, which has consequences not only for Pakistan itself but also for the region. 
 
The participating countries, Jaitley added, recognised that terrorism was the biggest threat to peace and stability and the Amritsar Declaration (see below) adopted towards the end of the summit expressed concern over violence perpetrated by terrorist groups, such as Lashkar-e-Taiba and Jaish-e-Mohammad.

If there were fears that India - Pakistan tensions would hijack the conference agenda, it was not to be. In the end, Aziz&#39;s engagements did not go beyond the customary handshake and photo-op with Modi. Indian Foreign Ministry Spokesperson Vikas Swarup maintained that there was no pull-aside or bilateral meeting between Aziz and Indian National Security Adviser Ajit Doval either.&nbsp;

An excerpt from the Amritsar Declaration:

&quot;We remain concerned by the gravity of the security situation in Afghanistan in particular and the region and the high level of violence caused by the Taliban, terrorist groups including ISIL / DAISHand its affiliates, the Haqqani Network, Al Qaida, Islamic Movement of Uzbekistan, East Turkistan Islamic Movement, Lashkar-e-Taiba, Jaish-e-Mohammad, TTP, Jamaat-ul-Ahrar, Jundullah and other foreign terrorist fighters. Acknowledging the support that terrorism derives in our region, we demand an immediate end to all forms of terrorism, as well as all support to it, including financing of terrorism. We recognize that terrorism is the biggest threat to peace, stability and cooperation in our region. We encourage the international community to continue to assist the Government of Afghanistan. We strongly call for concerted regional and international cooperation to ensure elimination of terrorism, in all its forms and manifestations, including dismantling of terrorist sanctuaries and safe havens in the Heart of Asia region, as well as disrupting all financial, tactical and logistical support for terrorism.&quot;

(WION)

Silence and inaction against terrorism in Afghanistan and our region will only embolden terrorists and their masters: Modi

It doesn't get more direct than what President Ashraf Ghani of Afghanistan had to say at Amritsar on Sunday. "Pakistan," he told representatives of nearly 50 countries or organisations, including Pakistan foreign affairs and security adviser Sartaj Aziz, who had gathered in the northern Indian town for the sixth edition of the Heart of Asia - Istanbul Process on Afghanistan, "has pledged 500 million dollars for Afghanistan’s development. This amount, Mr Aziz, can be spent to fight terrorists and extremists in Pakistan." TV cameras did not capture Aziz's expression but the sting in Ghani's words was not lost on anyone. The Afghan President did not stop at that. “A key Taliban leader," the Afghan President said, "has himself admitted to getting sanctuary in Pakistan. He said that without Pakistan support, we would have not lasted for more than a month.” As if on cue, Prime Minister Narendra Modi of India, who co-chaired the conference with Ghani, called for action "against those who support, shelter, train and finance" terrorists. "Silence and inaction against terrorism in Afghanistan and our region will only embolden terrorists and their masters," he continued in the same vein. This double-barrelled attack on Pakistan, by the Afghan and Indian leaders, was in keeping with India's attempts of late to shame their common neighbour and further isolate it diplomatically. The bonhomie between Kabul and New Delhi extended to the bilateral talks between Ghani and Modi on the margins of the conference. Economic partnership via trade and connectivity, development assistance and security cooperation were among the bilateral, regional and global issues that came up for discussion in their meeting. Indian foreign ministry spokesperson Vikas Swarup said that Ghani and Modi agreed to strengthen counter-terrorism cooperation to combat especially the cross-border nature of the scourge which had caused immense suffering to the people of India and Afghanistan. Both countries decided to operationalise the additional one billion meant as Indian development assistance for infrastructure and connectivity projects. They also plan to introduce an air transport corridor between India and Afghanistan to give India and Afghan consumers and producers unimpeded access to each other's products and services. Modi was to amplify it later by saying that "Afghanistan should be at the centre of our connectivity networks, not peripheral to them. On our part, we see Afghanistan as the hub for strengthening links of connectivity between South Asia and Central Asia". "We," he said, "cannot deny that the more connected Afghanistan is with the regional arteries of trade, capital and markets, the more assured would be its economic growth and progress. President Ghani and I have converged on the priority of strengthening trade and transport linkages with other partners in the region." For his part, Ghani said that all the countries in Afghanistan's neighbourhood and beyond "need to identify cross-border terrorism and a fund to combat terrorism". He lauded India's development role in his war-torn country by saying that Indian assistance is transparent and came without without strings attached. "There are no hidden agreements [or] secret conditions...it is convergence of interests and values of two states inspired by the belief in cooperative advantage." Aziz defended by saying in his intervention afterwards at the conference that "it is simplistic to blame only one country for the recent upsurge in violence" in Afghanistan. In an oblique reference to the continued India - Pakistan tensions, he said that peaceful resolution of outstanding disputes will further improve regional cooperation and connectivity in the region. (Pakistan does not allow India access through its territory for exporting goods to Afghanistan.) However, at a joint news conference with Deputy Foreign Minister Hekmat Karzai of Afghanistan, Indian Finance Minister Arun Jaitley (standing in for Foreign Minister Sushma Swaraj, who is indisposed) said that terrorism was at the very core of the deliberations and that the tone had been set by Ghani and Modi earlier in the day. Karzai, in turn, spoke about how Pakistan, without naming it, is nurturing and flirting with terrorism, which has consequences not only for Pakistan itself but also for the region. The participating countries, Jaitley added, recognised that terrorism was the biggest threat to peace and stability and the Amritsar Declaration (see below) adopted towards the end of the summit expressed concern over violence perpetrated by terrorist groups, such as Lashkar-e-Taiba and Jaish-e-Mohammad. If there were fears that India - Pakistan tensions would hijack the conference agenda, it was not to be. In the end, Aziz's engagements did not go beyond the customary handshake and photo-op with Modi. Indian Foreign Ministry Spokesperson Vikas Swarup maintained that there was no pull-aside or bilateral meeting between Aziz and Indian National Security Adviser Ajit Doval either. An excerpt from the Amritsar Declaration: "We remain concerned by the gravity of the security situation in Afghanistan in particular and the region and the high level of violence caused by the Taliban, terrorist groups including ISIL / DAISHand its affiliates, the Haqqani Network, Al Qaida, Islamic Movement of Uzbekistan, East Turkistan Islamic Movement, Lashkar-e-Taiba, Jaish-e-Mohammad, TTP, Jamaat-ul-Ahrar, Jundullah and other foreign terrorist fighters. Acknowledging the support that terrorism derives in our region, we demand an immediate end to all forms of terrorism, as well as all support to it, including financing of terrorism. We recognize that terrorism is the biggest threat to peace, stability and cooperation in our region. We encourage the international community to continue to assist the Government of Afghanistan. We strongly call for concerted regional and international cooperation to ensure elimination of terrorism, in all its forms and manifestations, including dismantling of terrorist sanctuaries and safe havens in the Heart of Asia region, as well as disrupting all financial, tactical and logistical support for terrorism." (WION)

Heart of Asia: Modi, Ghani launch double-barrelled attack on Pakistan

Three suspected Al-Qaeda operatives were arrested on Monday by India&rsquo;s National Investigation Agency (NIA) in Madurai in India&rsquo;s southern state of Tamil Nadu.

The three were allegedly planning to attack Prime Minister Narendra Modi along with 22 top leaders of India, police said.

Those arrested were identified as M Khareem, Asif Sultan Mohammed and Abbas Ali, PTI reported.

While Khareem was arrested from Usmannagar, Asif Sultan Mohammed was picked up from GR Nagar and Abbas Ali from Ismailpuram, police said.

Police said NIA raided several places on specific information that suspected Al-Qaeda activists were operating from South Tamil Nadu in and around Madurai. &ldquo;Explosive materials and arms have been seized from them,&rdquo; police said.

NIA is searching for two other suspected Al-Qaeda operatives, Hakeem and Dawood Sulaiman.

(WION with inputs from PTI)

&nbsp;

&nbsp;

Police said the three allegedly planned to attack 22 top leaders of India

Three suspected Al-Qaeda operatives were arrested on Monday by India’s National Investigation Agency (NIA) in Madurai in India’s southern state of Tamil Nadu. The three were allegedly planning to attack Prime Minister Narendra Modi along with 22 top leaders of India, police said. Those arrested were identified as M Khareem, Asif Sultan Mohammed and Abbas Ali, PTI reported. While Khareem was arrested from Usmannagar, Asif Sultan Mohammed was picked up from GR Nagar and Abbas Ali from Ismailpuram, police said. Police said NIA raided several places on specific information that suspected Al-Qaeda activists were operating from South Tamil Nadu in and around Madurai. “Explosive materials and arms have been seized from them,” police said. NIA is searching for two other suspected Al-Qaeda operatives, Hakeem and Dawood Sulaiman. (WION with inputs from PTI)

Three suspected Al-Qaeda operatives planning to kill 22 top leaders including Indian PM Narendra Modi arrested

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Indian Prime Minister Narendra Modi said the waters of rivers &nbsp;Sutlej, Beas and Ravi belong to India and will be stopped from going waste in Pakistan,

He said he will ensure that farmers here utilise it.

&quot;Indus Water Treaty- Sutlej, Beas, Ravi - the waters in these rivers belong to India and our farmers. It is not being used in the fields of Pakistan but flowing into the sea through Pakistan.&rdquo;

&quot;Now every drop of this water will be stopped and I will give that to farmers of Punjab and Jammu and Kashmir and Indian farmers. I am committed to this,&quot; he said addressing a rally in the Indian state of Punjab.

He said a task force has been set up to ensure that &quot;each drop of water&quot; that flows out of Sutlej, Beas and Ravi reaches Punjab and Jammu and Kashmir.

&quot;There is no reason that we cannot use our rights (over our waters) and let our farmers suffer,&quot; he said, adding, &quot;I need your blessings in order to fulfill your requirements for watering your fields.&quot;

The solution for the problems of water could be found out through common dialogue, he said.

Criticising the previous governments, Modi said, &quot;Waters kept flowing to Pakistan, but successive governments kept sleeping on this issue and my farmer kept crying for the want of water.&quot;

&quot;If Punjab farmers get sufficient amount of water, they could produce &#39;gold&#39; from the soil and could fill the coffers of the country,&quot; he said.

&quot;Our government is committed to work in tandem with the Badal government in Punjab to get farmers their rights and address their concerns,&quot; he said.

(WION with inputs from PTI)

Modi said a task force has been set up to ensure that 'each drop of water' that flows out of the rivers reaches Punjab and Jammu and Kashmir

Indian Prime Minister Narendra Modi said the waters of rivers Sutlej, Beas and Ravi belong to India and will be stopped from going waste in Pakistan, He said he will ensure that farmers here utilise it. "Indus Water Treaty- Sutlej, Beas, Ravi - the waters in these rivers belong to India and our farmers. It is not being used in the fields of Pakistan but flowing into the sea through Pakistan.” "Now every drop of this water will be stopped and I will give that to farmers of Punjab and Jammu and Kashmir and Indian farmers. I am committed to this," he said addressing a rally in the Indian state of Punjab. He said a task force has been set up to ensure that "each drop of water" that flows out of Sutlej, Beas and Ravi reaches Punjab and Jammu and Kashmir. "There is no reason that we cannot use our rights (over our waters) and let our farmers suffer," he said, adding, "I need your blessings in order to fulfill your requirements for watering your fields." The solution for the problems of water could be found out through common dialogue, he said. Criticising the previous governments, Modi said, "Waters kept flowing to Pakistan, but successive governments kept sleeping on this issue and my farmer kept crying for the want of water." "If Punjab farmers get sufficient amount of water, they could produce 'gold' from the soil and could fill the coffers of the country," he said. "Our government is committed to work in tandem with the Badal government in Punjab to get farmers their rights and address their concerns," he said. (WION with inputs from PTI)

Waters of Sutlej, Beas and Ravi belong to India, will be stopped from going waste in Pakistan: Indian PM

Indian Prime Minister Narendra Modi said on Friday that demonetisation is &ldquo;for the larger social good&rdquo;, amid mounting criticism following his decision to withdraw all high-denomination banknotes from circulation. &nbsp;

&quot;The decision isn&#39;t being criticised much (by the common man),&quot; Modi said in a speech Friday, in which he praised citizens as &quot;soldiers in this fight against corruption and black (unaccounted) money&quot;, AFP reported.

&quot;Some things have to be done above politics for the larger social good,&quot; he added.&nbsp;

The move that came into effect on November 8, bans the 500 and 1,000 rupees ($7.30, $14.60) notes as legal tender which amount to approximately 85 per cent of all bills in circulation.

According to AFP, Ratings agency Fitch has said it would revise down India growth forecasts for the fourth quarter of 2016 after the shock move.

Critics have slammed the Modi government for its &quot;shoddy implementation&quot; of the scheme, that has led to chaos outside banks and ATMs.

Hitting out at critics, Modi said that those criticising his decision were &ldquo;sad that they didn&rsquo;t get any notice, a chance to prepare for the decision&quot;. 
&nbsp; 
&quot;It is such a great step. A big, big decision. And, for those who dream of a great future for the country, let`s come together to remove the problems being faced by the common man,&quot; he added.

People nationwide have complained of a cash-crunch. Rural areas are reported to be the hardest hit as local banks and post offices have been slow to receive new notes.

Modi also urged Indians to switch to non-cash methods of spending.&nbsp;

&quot;Every person has a right to spend his or her money. No one can take anyone`s money. Now people can also spend through mobile technology,&quot; he said, mentioning that the country had around a billion mobile handsets and 60 per cent of its population was under 35 years.&nbsp;

&nbsp;

(WION with inputs from AFP)

Critics have slammed the Modi government for its 'shoddy implementation' of the scheme

Indian Prime Minister Narendra Modi said on Friday that demonetisation is “for the larger social good”, amid mounting criticism following his decision to withdraw all high-denomination banknotes from circulation. "The decision isn't being criticised much (by the common man)," Modi said in a speech Friday, in which he praised citizens as "soldiers in this fight against corruption and black (unaccounted) money", AFP reported. "Some things have to be done above politics for the larger social good," he added. The move that came into effect on November 8, bans the 500 and 1,000 rupees ($7.30, $14.60) notes as legal tender which amount to approximately 85 per cent of all bills in circulation. According to AFP, Ratings agency Fitch has said it would revise down India growth forecasts for the fourth quarter of 2016 after the shock move. Critics have slammed the Modi government for its "shoddy implementation" of the scheme, that has led to chaos outside banks and ATMs. Hitting out at critics, Modi said that those criticising his decision were “sad that they didn’t get any notice, a chance to prepare for the decision". "It is such a great step. A big, big decision. And, for those who dream of a great future for the country, let`s come together to remove the problems being faced by the common man," he added. People nationwide have complained of a cash-crunch. Rural areas are reported to be the hardest hit as local banks and post offices have been slow to receive new notes. Modi also urged Indians to switch to non-cash methods of spending. "Every person has a right to spend his or her money. No one can take anyone`s money. Now people can also spend through mobile technology," he said, mentioning that the country had around a billion mobile handsets and 60 per cent of its population was under 35 years. (WION with inputs from AFP)

Indian PM Modi hits back at critics, says demonetisation 'for larger good'

To try and ease the cash crunch following last week&#39;s decision to demonetise 500- and 1,000-rupee notes, the Indian&nbsp;government said Thursday that select petrol pumps would be allowed to dispense up to Rs 2,000 to customers against their debit or credit cards.

To start with, the facility will be available at 2,500 petrol pumps around the country.

&quot;It has been decided that an amount up to Rs 2,000 per day per person in cash can be dispensed against swiping of debit card from select petrol pumps where Point of Sale (PoS) machines of State Bank of India are already available,&quot; an official told Indian news agency PTI.

The facility will in time be extended to 20,000 petrol pumps.

(WION with inputs from PTI)

The facility will at first be available at 2,500 petrol pumps around the country, will in time be extended to 20,000

To try and ease the cash crunch following last week's decision to demonetise 500- and 1,000-rupee notes, the Indian government said Thursday that select petrol pumps would be allowed to dispense up to Rs 2,000 to customers against their debit or credit cards. To start with, the facility will be available at 2,500 petrol pumps around the country. "It has been decided that an amount up to Rs 2,000 per day per person in cash can be dispensed against swiping of debit card from select petrol pumps where Point of Sale (PoS) machines of State Bank of India are already available," an official told Indian news agency PTI. The facility will in time be extended to 20,000 petrol pumps. (WION with inputs from PTI)

Demonetisation: Swipe card at petrol pump, get up to Rs 2,000 cash

Indian Prime Minister Narendra Modi&#39;s 97-year-old mother Hiraba today visited a bank at her village in Gandhinagar, just like other citizens, and exchanged her old notes in view of the demonetisation of the high-value currency notes.

Accompanied by relatives, Hiraba, who was in a wheelchair, came to a branch of Oriental Bank of Commerce at Raisan village this morning and got notes worth Rs 4,500 exchanged.

She came to the bank with Rs 500 notes, got the mandatory form filled, put her thumb impression on the form and exchanged her money.

After receiving a new note of Rs 2,000, she also displayed it in front of the mediapersons, who virtually mobbed her as they sought her reaction.

Hiraba lives with Prime Minister Modi&#39;s younger brother Pankaj Modi in Raisan on the outskirts of Gandhinagar. 
The prime minister had visited his mother on September 17 this year to take her blessings on his 66th birthday.

Hiraba is known to lead a very simple life and travels in public transport. Last time when she visited Gandhinagar civil hospital for a regular check-up, she was seen going in an autorickshaw.

Modi had on November 8 announced scrapping of Rs 500 and Rs 1,000 notes to curb black money menace.

After the announcement, people have been queueing up at banks across the country to get their old high denomination notes exchanged for the new notes.

(PTI)

His nonagenarian mother is known to lead a very simple life and is even seen travelling in public transport often

Indian Prime Minister Narendra Modi's 97-year-old mother Hiraba today visited a bank at her village in Gandhinagar, just like other citizens, and exchanged her old notes in view of the demonetisation of the high-value currency notes. Accompanied by relatives, Hiraba, who was in a wheelchair, came to a branch of Oriental Bank of Commerce at Raisan village this morning and got notes worth Rs 4,500 exchanged. She came to the bank with Rs 500 notes, got the mandatory form filled, put her thumb impression on the form and exchanged her money. After receiving a new note of Rs 2,000, she also displayed it in front of the mediapersons, who virtually mobbed her as they sought her reaction. Hiraba lives with Prime Minister Modi's younger brother Pankaj Modi in Raisan on the outskirts of Gandhinagar. The prime minister had visited his mother on September 17 this year to take her blessings on his 66th birthday. Hiraba is known to lead a very simple life and travels in public transport. Last time when she visited Gandhinagar civil hospital for a regular check-up, she was seen going in an autorickshaw. Modi had on November 8 announced scrapping of Rs 500 and Rs 1,000 notes to curb black money menace. After the announcement, people have been queueing up at banks across the country to get their old high denomination notes exchanged for the new notes. (PTI)

Indian Prime Minister Narendra Modi's mother goes to bank to exchange notes

Top diplomat Sartaj Aziz said that Pakistan joins BRICS nations in condemning terrorism

A day after Indian Prime Minister Narendra Modi made an indirect reference to Pakistan and made the 'mothership of terrorism' remark at BRICS Summit 2016, a top diplomat from Pakistan today lashed out saying that India has no right to point fingers. Sartaj Aziz, the foreign affairs adviser to Pakistan’s Prime Minister Nawaz Sharif, said that India has no moral ground to talk about counter-terrorism efforts, Indian news agency ANI reported. In a statement released by Pakistan's foreign ministry, Aziz said: "Modi is misleading his BRICS (Brazil, Russia, India, China and South Africa) and BIMSTEC (The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) colleagues." Aziz alleged that the Indian leadership was desperately trying to hide what he termed as "brutalities" in Kashmir. "The UN and OIC (Organisation of Islamic Cooperation) have rejected Indian attempts to equate Kashmiris' movement for self-determination with terrorism," Aziz was quoted as saying by ANI. He also said the UN has repeatedly stressed that people fighting for their self-determination cannot be categorised as terrorists by the occupying state. Aziz said that Pakistan joins all the members of BRICS and BIMSTEC in condemning terrorism and reaffirms its full commitment in fighting the menace of terrorism without discrimination. He alleged that Pakistan is a victim of "Indian interference and subversive activities, which are aimed at destabilising the country". Indian Prime Minister Modi, while addressing the BRICS Summit on Sunday, launched an indirect attack at Pakistan saying, "Tragically, the mother-ship of terrorism is a country in India's neighbourhood." "Terrorism has become its favourite child and the child in turn. has come to define the essential character and nature of its parents. The time for condemning the state-sponsored terrorism is long gone," he said. The two South Asian neighbours have been engaged in war of words over the past few weeks in the wake of ongoing unrest in Kashmir Valley, September 18 Uri attack that killed 19 soldiers and ensuing surgical strikes by Indian Army in Pakistan-controlled Kashmir. Both the countries have also been accusing each other of ceasefire violations. While a senior Indian Army official was quoted as saying in media reports on Sunday that there have been more than 25 ceasefire violations by Pakistan since September 29 surgical strikes, Pakistan's foreign office spokesperson Nafees Zakria said today that there India has committed more than 90 ceasefire violations in 2016. #LoCViolationsbyIndia India again resorts 2unprovoked firing at LoC; during 2016 India violated ceasefire more than 90 times.This #must stop — M. Nafees Zakaria (@ForeignOfficePk) October 17, 2016 × (WION with inputs from agencies)

Indian PM misleading BRICS colleagues: Pakistan on 'mothership of terrorism' remark

Indian Prime Minister Narendra Modi is set to meet Russian President Vladimir Putin in the western Indian state of Goa on Saturday for the 17th India-Russia annual summit that will be held on the margins of the BRICS &nbsp;(Brazil, Russia, India, China, South Africa)&nbsp;Summit 2016&nbsp;

&nbsp;

The two leaders are expected to sign a number of defence deals. The meeting will also see the foundation of unit-3 and unit-4 of the nuclear reactors being set up with Moscow&#39;s assistance in Kudankulam, a seaside town in the southern state of Tamil Nadu.

&nbsp;

&#39;A vast menu&#39;&nbsp;

The strategic partnership between India and Russia dates back to October 2000. However, over time, the bilateral relations&nbsp;waned. While Russia turned to China, and most recently Pakistan where it conducted joint military exercises, India veered towards the United States. Along the way, the US and Israel supplanted Russia as a major defence supplier for India.

&nbsp;

The Modi-Putin bilateral talks, however, are likely to re-establish Moscow&#39;s pre-eminent status in India&#39;s defence and security calculus.&nbsp;

&nbsp;

If the ambitious agenda of the talks (&quot;a vast menu&quot; is how an Indian official who spoke to WION defines it) and the proposed outcomes (about 18 agreements&nbsp;likely to be signed in the areas such as defence and civil nuclear cooperation) are indicators, the Modi-Putin meet promises to be as &quot;special&quot; and &quot;privileged&quot; as the strategic partnership between India and Russia.

&nbsp;

GV Srinivas, joint secretary (Eurasia) in the Indian ministry of external affairs, told reporters in Goa today that &quot;unmatched mutual confidence&quot;, &quot;trust&quot; and &quot;goodwill&quot; cutting across party lines mark the India-Russia bilateral relations. Their &quot;broad geopolitical interests do not clash&quot;,&nbsp;rather, in some cases, &quot;the interests coincide&quot;, he said&nbsp;

&nbsp;

Meanwhile, Pankaj Saran, India&#39;s ambassador to Russia, told reporters that terror will remain one of&nbsp;the talking points during the meet.&nbsp;

&nbsp;

Also, the &quot;wide range&quot; of defence deals to be signed on Saturday are likely to be far-reaching in their scope and importance for India&#39;s defence and security interests. &nbsp;

&nbsp;

India, Saran said, can also be expected to iterate its anxieties to Russia on its fledgeling military ties with Pakistan. &quot;India is confident that Russia will reflect upon India&#39;s concerns,&quot; &nbsp;he added.&nbsp;

&nbsp;

Among the defence pacts to be signed on Saturday&nbsp;will be&nbsp;the S-400 Triumph advanced anti-aircraft defence system. Some other agreements will be signed out of public view. &nbsp;

&nbsp;

Several other regional and global issues such as the situation in Syria, Afghanistan and other countries are also likely to come up for discussion.&nbsp;

&nbsp;

Saran highlighted&nbsp;that the &quot;policy position&quot; on Syria&nbsp;that Modi articulated when he visited Moscow in December last year for the annual India-Russia summit&nbsp;remains valid even today, in spite of the changes on the ground in Syria, and related developments at the United Nations.

&nbsp;

Modi to meet Jinping&nbsp;

The India-Russia talks will take place before the Indian Prime Minister sits down for a bilateral meeting with President Xi Jinping of China. The Sino-Indian relations have been fraught with mutual distrust and suspicion, in sharp contrast to the nature of ties between New Delhi and Moscow.&nbsp;

&nbsp;

India&#39;s membership of the Nuclear Suppliers Group (NSG), which has been hanging fire for a long time now, has been opposed by China on the ground that India is not a signatory to the Nuclear Non-Proliferation Treaty (NPT) and that Beijing wants a criteria-based exemption rather a country-specific waiver in favour of India.&nbsp;

&nbsp;

China&#39;s reluctance to lift the technical hold on the proposed proscription of the terror&nbsp;group&nbsp;Jaish-e-Mohammed chief Masood Azhar by the United Nations 1267 committee is also expected to come up for discussion.

&nbsp;

(WION)&nbsp; 
&nbsp;

The two leaders are to sign deals expected to have far-reaching results as far as India's defence interests are concerned

Indian Prime Minister Narendra Modi is set to meet Russian President Vladimir Putin in the western Indian state of Goa on Saturday for the 17th India-Russia annual summit that will be held on the margins of the BRICS (Brazil, Russia, India, China, South Africa) Summit 2016 The two leaders are expected to sign a number of defence deals. The meeting will also see the foundation of unit-3 and unit-4 of the nuclear reactors being set up with Moscow's assistance in Kudankulam, a seaside town in the southern state of Tamil Nadu. 'A vast menu' The strategic partnership between India and Russia dates back to October 2000. However, over time, the bilateral relations waned. While Russia turned to China, and most recently Pakistan where it conducted joint military exercises, India veered towards the United States. Along the way, the US and Israel supplanted Russia as a major defence supplier for India. The Modi-Putin bilateral talks, however, are likely to re-establish Moscow's pre-eminent status in India's defence and security calculus. If the ambitious agenda of the talks ("a vast menu" is how an Indian official who spoke to WION defines it) and the proposed outcomes (about 18 agreements likely to be signed in the areas such as defence and civil nuclear cooperation) are indicators, the Modi-Putin meet promises to be as "special" and "privileged" as the strategic partnership between India and Russia. GV Srinivas, joint secretary (Eurasia) in the Indian ministry of external affairs, told reporters in Goa today that "unmatched mutual confidence", "trust" and "goodwill" cutting across party lines mark the India-Russia bilateral relations. Their "broad geopolitical interests do not clash", rather, in some cases, "the interests coincide", he said Meanwhile, Pankaj Saran, India's ambassador to Russia, told reporters that terror will remain one of the talking points during the meet. Also, the "wide range" of defence deals to be signed on Saturday are likely to be far-reaching in their scope and importance for India's defence and security interests. India, Saran said, can also be expected to iterate its anxieties to Russia on its fledgeling military ties with Pakistan. "India is confident that Russia will reflect upon India's concerns," he added. Among the defence pacts to be signed on Saturday will be the S-400 Triumph advanced anti-aircraft defence system. Some other agreements will be signed out of public view. Several other regional and global issues such as the situation in Syria, Afghanistan and other countries are also likely to come up for discussion. Saran highlighted that the "policy position" on Syria that Modi articulated when he visited Moscow in December last year for the annual India-Russia summit remains valid even today, in spite of the changes on the ground in Syria, and related developments at the United Nations. Modi to meet Jinping The India-Russia talks will take place before the Indian Prime Minister sits down for a bilateral meeting with President Xi Jinping of China. The Sino-Indian relations have been fraught with mutual distrust and suspicion, in sharp contrast to the nature of ties between New Delhi and Moscow. India's membership of the Nuclear Suppliers Group (NSG), which has been hanging fire for a long time now, has been opposed by China on the ground that India is not a signatory to the Nuclear Non-Proliferation Treaty (NPT) and that Beijing wants a criteria-based exemption rather a country-specific waiver in favour of India. China's reluctance to lift the technical hold on the proposed proscription of the terror group Jaish-e-Mohammed chief Masood Azhar by the United Nations 1267 committee is also expected to come up for discussion. (WION)

Modi-Putin bilateral will recalibrate Moscow's status in India's defence calculus

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