NEWS :-
- Prime Minister says, fight against corruption and black money is not a political one.
- Congress and SP stages a walk out from Rajya Sabha protesting Mr. Modi's remarks against former Prime Minister Dr Manmohan Singh.
- RBI keeps repo rate unchanged at 6.25 per cent.
- Cash withdrawal limits from Saving Bank Accounts to be removed from 13th March; limit also to be enhanced to 50,000 rupees from current 24,000 rupees from 20th February.
- Parliament passes Payment of Wages Amendment Bill ensuring fair payment of wages through bank accounts.
- Union Cabinet approves Pradhan Mantri Gramin Digital Saksharta Abhiyan.
- Political crisis in Tamil Nadu deepens; MLAs owing allegiance to AIADMK general secretary VK Sasikala are being taken to Delhi in several batches; Care taker CM Panneerselvam claims support of many of the party MLAs.
- Congress releases manifesto for upcoming Assembly elections in Uttar Pradesh promising 50 per cent reservation for women in panchayats.
- Minister of State for Information and Broadcasting Rajyavardhan Rathore says, terrorism is a global threat and its footprint is not restricted to any border.
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Prime Minister Narendra Modi today said the fight against corruption and black money is not a political one and not targeted against any party. Replying to the Motion of Thanks on the President's address in the Rajya Sabha, Mr Modi said, the action against corruption will empower the honest.
Mr. Modi said, India is working to correct the wrongs that entered the society. He thanked the people for supporting government's decision of demonetisation. He took on his predecessor, Dr. Manmohan Singh, by stating that there is not a single black mark against him despite all the corruption.
In the midst of the reply, Congress and SP staged a walk out from the Rajya Sabha protesting Mr. Modi's remarks against the forme Prime Minister. Reacting on the Congress walk out from the House, Prime Minister Modi said, if the opposition breach decorum, they should show courage to listen to the response too.
The Prime Minister also criticized the opposition for dragging the name of RBI governor saying that such institutions should be kept beyond politics. He asserted that his government has taken steps to maintain the autonomy of RBI including amending the RBI Act to set up Monetary Policy Committee.
Talking about the Swach Bharat Abhiyan, Mr. Modi said, it should be made a peoples’ movement. He said, after the launch of the campaign, the sanitation has increased from 42 percent to 60 percent in the rural area.
Later, the House adopted the motion on President’s address amidst walkout by Left, JD(U) and TMC members. Lok Sabha had already adopted the motion.
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The Reserve Bank of India today maintained status quo on its key rates in its monetary policy review, today. So the repo rate, or the rate at which the RBI lends to banks, stands unchanged at 6.25 per cent, and the reverse repo rate, or the rate at which the RBI absorbs excess liquidity, also remains steady at 5.75 per cent. However, the Apex Bank shifted its monetary policy stance from accommodative to neutral.
Reserve Bank Governor Urjit Patel said, the Monetary Policy Committee decided to change its policy stance while keeping the policy rate on hold to assess how the transitory effects of demonetisation on inflation and the output gap play
out. He said, the RBI is committed to bringing headline inflation closer to 4 per cent on a durable basis.
"Effective from 20th February, 2017, the limits on cash withdrawal from the Savings bank accounts will be enhanced to Rs. 50,000 per week. Effective from 13th March, 2017, there will be no limits prescribed by the Reserve Bank on cash withdrawal from Savings bank accounts."
The RBI also revised down its GDP growth forecast to 6.9 per cent for the current fiscal, from 7.4 per cent earlier. But it added that growth will pick up sharply to 7.4 per cent in the next fiscal.
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RBI Deputy Governor Mr. R Gandhi has announced all limits on cash withdrawals from Savings Bank Account will be withdrawn from 13th March 2017. Addressing a press conference in Mumbai today, Mr. Gandhi further announced that the limit on cash withdrawal from Savings Bank Account will be enhanced to 50,000 rupees from the current 24,000 rupees from 20th February.
"Committee wanted to emphasize that in a calibrated manner and, therefore, to make it on a durable basis, we need to move closer to 4. Secondly, the non-food, non fuel part of the CPI Index has been stubborn at about 4.8-4.9 since September. It's abundant precaution the committee felt that we needed all the flexibility that we could muster."
It may be recalled that in order to further the pace of remonetisation, RBI had announced withdrawal of all limits placed on cash withdrawals from Current, Cash Credit and Overdraft accounts on 30th January while also removing all the limits placed on withdrawal of cash from ATMs.
Meanwhile, the RBI Deputy Governor today also informed that currency notes worth 9.92 lakh crore rupees was back in the system till 27th January.
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Parliament has passed the Payment of Wages Amendment Bill 2017 with the Rajya Sabha approving it today. The Lok Sabha had passed it yesterday. Replying to the debate over the Bill, Labour Minister Bandaru Dattatreya reiterated that the government is committed for the welfare of the workers and the Bill is aimed at further strengthening their rights. He said, U-WIN cards will be issued soon to all workers in the organised and unorganised sectors. The cards will have portability, Identity and provide social security to the workers. Stating that the Government has taken several initiatives for the welfare of the workers, the minister said, the act will improve compliance of labour laws and payment of enhanced minimum wages in the bank accounts. He also said, over 48 lakh new bank accounts were opened for workers post demonetisation.
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Union Cabinet today approved Pradhan Mantri Gramin Digital Saksharta Abhiyan. It will cover six crore rural households to make them digitally literate. Over 2315 crore rupees have been approved for the scheme which is aimed at speading digital literacy in rural areas by March 2019. It is expected to be the world's largest digital literacy programme. It would empower citizens by providing them access to information, knowledge and skill.
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In Tamil Nadu, AIADMK MLAs owing allegiance to the party general secretary VK Sasikala are being taken to Delhi in several batches with the reported aim of meeting President Pranab Mukherjee and submit a memorandum seeking an early swearing in ceremony. The move follows the show of strength by holding the AIADMK MLAs meet in Chennai today. Ms Sasikala has come down heavily on the caretaker chief minister O.Panneerselvam as a traitor who has joined hands with the arch rival DMK.
However, Mr. Panneerselvam has claimed that many of the AIADMK MLAs have pledged support to him and expressed confidence that he will be able to prove his majority if asked to do so.
Meanwhile reports from Mumbai suggest that the Maharashtra Governor Vidyasagar Rao who holds additional charge of Tamil Nadu is expected to reach Chennai tomorrow evening.
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Congress today released its manifesto for the upcoming Assembly elections in Uttar Pradesh promising 50 per cent reservation for women in panchayats if voted to power. It also promises free bicycles to girls from class 9th to 12th. The manifesto was released by Congress General Secretary in Charge of Uttar Pradesh, Ghulam Nabi Azad and State unit President Raj Babbar in Lucknow.
Meanwhile, the electioneering in the first phase of poll in the state covering the western parts today reached its height on the eve of the campaign end. Now less than twenty hours are left, as campaign will end tomorrow evening for all the 73 Assembly seats going to polls in the first phase of polling on February 11.
"Senior BJP leader and Prime Minister Narendra Modi, while addressing a rally at Gaziabad today criticized UP government and asked Akhilesh Yadav to give account of five years of his regime.
He accused SP government for backwardness of state. BSP President Mayawati severely attacked SP and BJP in Shahjahanpur and Badanyunn rallies.
Congress Vice-president Rahul Gandhi in meetings at Hapur including at other places criticized Sri Modi for allegedly favoring capitalist not poor and farmers.
SP President Akhilesh Yadav held several rallies at various places including four at Bijnaur. Rashtriya Lok Dal chief Ajit Singh is also addressing poll meeting in western UP. MS Yadav, AIR, News, Lucknow."
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In Uttarakhand, with barely one week left for assembly polls, the state is witnessing flying visits of star campaigners of contesting politicalk parties. More from our correspondent:-
"The BJP National Spokesperson Shahnawaz Hussain claimed the BJP victory is ensured in the Uttarakhand elections. He said that the people are fed up with the Congress government in the state. Meanwhile, Congress star campaigners Ranjeet Singh Surjewala and Sharmistha Mukherjee at their press meet in Dehradun said that central government discriminated against Uttarakhand by applying budgetary cuts. Chief Minister Harish Rawat addressed public meetings in support of Congress candidates in Nanital, Yamkeshwar and Kotdwar. With OP Meena this is Sanjeev Sundriyal Air News. "
Polling will be held next Wednesday.
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Minister of State for Information and Broadcasting Col Rajyavardhan Rathore has said that terrorism is a global threat and the footprint of terrorism is not restricted to any border. Inaugurating the 17th International Seminar on Counter Terrorism in Manesar, Haryana today, Mr Rathore said, that there should be proper coordination between the agencies within the country, as well as between the countries. He said, the co-ordination is necessary as terrorists take advantage of element of surprise if countries live in isolation.
"There have been many instances, both within our country and internationally, where we have been able to share a lot of information and knowledge. And which has actually led to actionable work as well. There are many examples of terrorists who have been identified using social media across the countries have been followed by multiple agencies across the globe. We have been able to identify and neutralise them before they have been able to carry out any damage."
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The domestic stock markets ended modestly lower, after the Reserve Bank's monetary policy review, today, but the rupee strengthened smartly against the dollar.
"The Sensex at the Bombay Stock Exchange declined 45 points, or 0.2 percent, to close at 28,290, following volatile trade, after the Reserve Bank kept the repo rate unchanged in its monetary policy review. The Nifty at the National Stock Exchange rose barely one point, to 8,769. At the forex market, the rupee appreciated 22 paise, to a nearly 3-month high of 67.19 against the dollar. Gold prices remained unchanged, at 29,850 rupees per ten grams in Delhi. And Brent crude oil futures fell 36 cents, to 54.69 dollars per barrel. Pradeep Kumar, AIR News."
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India will take on Bangladesh in a one off Cricket Test in Hyderabad tomorrow. The match will begin at 9.30 a.m.
