GST, demonetisation done to benefit people: Venkaiah Naidu
Kolkata: Hailing the Centre's implementation of GST and demonetisation of higher value notes, Vice President M. Venkaiah Naidu on Saturday said both the moves were made to benefit the common people and change the country's economy.
"With the GST, initially there was some pain. But in the larger picture the GST is going to revolutionise Indian banking system. As a result, the country's economy will change," Naidu said at the 11th Global Healthcare Summit organised by American Association of Physicians of Indian Origin (AAPI) here.
Naidu also said while some people have criticised demonetisation, the move taken on November 8, 2016, has ensured that all the undisclosed cash in the country comes back to the banks.
"I can say one thing about demonetisation or remonetisation that the money that was hidden under the bed or inside the bathrooms before has come back to the banks. The money has come to the bank with its address. Now it up to the Reserve Bank of India to decide, how much is white money and how much is black money," he observed.
The Vice President also praised the people of the country for putting up with the trouble with depositing their money after demonetisation and termed the situation as "short term pain for long term gain".
"The common people have a lot of common sense. They realised its impact. Otherwise standing in queues for 51 days for your own money is no joke. Any improvement in the system is for the benefit of the common people," he added
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Kenya cancels airport and energy deals with Adani group after US indicts the tycoon
Nairobi, Nov 21: Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made “based on new information provided by our investigative agencies and partner nations.” He didn't specify the United States.
The Adani group had been in the process of signing an agreement that would modernize Kenya's main airport in the capital, Nairobi, with an additional runway and terminal constructed, in exchange for the group running the airport for 30 years.
The widely criticised deal had sparked anti-Adani protests in Kenya and a strike by airport workers, who said it would lead to degraded working conditions and job losses in some cases.
The Adani group had also been awarded a deal to construct power transmission lines in Kenya, East Africa's business hub.
Also Thursday, Energy Minister Opiyo Wandayi told a parliamentary committee there had been no bribery or corruption involved on Kenya's part in signing that deal.
US prosecutors indicted Adani this week on charges he duped investors in a massive solar energy project in India by concealing that it was facilitated by an alleged bribery scheme. He was charged with securities fraud and conspiracy to commit securities and wire fraud.
