Bihar Dy.CM Sushil Modi credits Hindu calendar months Saawan and Bhado for economic slowdown
PATNA: Deputy Chief Minister and Finance Minister of Bihar Sushil Kumar Modi on Sunday said that some opposition parties were trying to create panic in the country over what he claimed to be a recurring "cyclic" slowdown in the economy during months of "saawan-bhado".
"Usually every year there is a cyclic slowdown in the economy during saawan-bhado (the fifth and sixth months in the Hindu calendar), but this time some political parties are creating noise over it to vent their frustration after the loss in elections," a tweet by Sushil Modi read.
The economic growth slowed to a six-year low of 5 per cent in April to June quarter from 8 per cent a year ago, according to the government data.
Several opposition parties, including the Congress, have blamed the Prime Minister Narendra Modi government for being ineffective in controlling the dip in manufacturing and agriculture sectors.
The Bihar Deputy Chief Minister added there was no reason to worry about the slowdown as the Central government had taken appropriate measures to control it.
"Central government's announcement of 32-point relief package and the merger of 10 banks will increase the lending capacity of banks whose effects will be visible in the next trimester," the tweet read.
He further said that Bihar was unaffected by the slowdown and claimed there was no fall recorded in motor vehicle sales in the state.
"The slowdown has not affected Bihar, there is no fall in sales of vehicles here. The Centre is soon going to announce the third package," the tweet added.
courtesy: ndtv.com
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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
