'ill conceived demonisation', 'poorly executed GST' behind 'worrisome' state of economy: Rajan
New Delhi: The Former Reserve Bank of India governor Raghuram Rajan didn't hold back his criticism as he called the economic situation in the country "worrisome" and majoritarianism is leading India down a "dark and uncertain path".
In the OP Jindal Lecture at Brown University on October 9, Rajan outlined the problems plaguing the Indian economy.
"India is losing its economic way, in part because it is centralising power without a persuasive economic vision. We risk wasting the demographic dividend,” news outlet The Print quoted him as saying. According to Rajan, the problem was spurred by "ill-conceived" demonetisation and "poorly executed GST".
Another report in the Times of India quoted Rajan as saying that even while growth is slowing, the government is pushing its welfare programme "which gives it a lot of political capital among people".
He remained just as critical when he said the centralised structure in the Modi government was hindering economic progress. "...the government is extremely which puts a lot of pressure on the leadership, which does not have a consistent, articulated vision on how to achieve growth," were Rajan's resounding words.
Referring to the recent raids and arrests of Opposition leaders Rajan said that it is unclear why evaders are problematic only in opposition and not in members of the opposition who pledge allegiance to the ruling party.
"I do worry that the former finance minister has been held in jail without trial for over a month," the TOI report quoted him as saying.
Courtesy: news18.com
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Allahabad HC asks CBI, ED to inquire disproportionate assets allegation against Rahul Gandhi
Lucknow (PTI): The Lucknow bench of Allahabad High Court has directed the Central Bureau of Investigation and the Enforcement Directorate to conduct an inquiry into the allegations of amassing of disproportionate assets by Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi.
The court has asked the agencies to submit the progress of the inquiry on July 20.
A division bench of Justices Rajesh Singh Chauhan and Zafeer Ahmad passed the order while hearing a criminal writ petition moved by a Karnataka BJP worker, S Vignesh Shishir.
The petitioner has alleged accumulation of disproportionate assets by Gandhi and sought direction of an inquiry into the matter.
The bench conducted an in-chamber hearing in the case on May 12.
In its order published on the high court's website on Thursday, the bench observed, "It is expected that if the complaint of the petitioner has been received, the allegations may be verified as per law. It is needless to say that the CBI or ED may take appropriate steps permissible under the law."
Besides the CBI and ED, the bench has also directed the Central government's Department of Personnel and Training, the Department of Revenue, the Ministry of Finance, the Ministry of Corporate Affairs and the Director of Serious Fraud Investigation Office to file their responses on the allegations levelled by the petition within eight weeks.
According to the order, the CBI and the ED have informed the bench that they have received the petitioner's complaint and would file a response before the court.
To a query on whether the petition was maintainable, the bench said that this submission would be tested after receiving the counter-affidavits of the respective parties and the rejoinder affidavits thereof.
The court also ordered its senior registrar to keep the paper-book and the loose documents provided by the petitioner in a sealed cover to be opened on the next hearing.
