Strictest action will be taken against Hindenburg: Union Minister Giriraj Singh
New Delhi, Aug 12: Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the "strictest action" will be taken against the US short-seller.
Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal.
The duo has denied the allegations as baseless and asserted their finances are an open book.
The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband.
Talking to reporters on the sidelines of an event here, Singh, the Union Minister for Textiles, also came down heavily on Congress leaders Rahul Gandhi and Jairam Ramesh.
"This is a gang to defame the country, Rahul (Gandhi) and Jairam Ramesh. Hindenburg defames us. We will not tolerate this insult to the nation. These people are enemies of the country. Now strictest action will be taken against Hindenburg," Singh said.
Calling Gandhi 'Bade Baap Ka Beta', the minister said: "Rahul does not know anything about the state and direction of the nation", and cautioned that the countrymen should "beware" of such people who try to create confusion and fear.
Asked about demands by Congress for a JPC probe in the Hindenburg matter, Singh said: "This Congress is behind Hindenburg. Hindenburg is a tool kit to ruin India and people like Rahul Gandhi are involved in it".
Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Sunday demanded a Joint Parliamentary Committee (JPC) inquiry into the charges against Securities and Exchange Board of India (Sebi ) chief Madhabi Buch in the latest Hindenburg report.
The Congress leader issued a stark warning regarding the integrity of India's stock market following the latest allegations made by Hindenburg.
"Rahul Gandhi even defames the nation when he goes abroad. When at home, he (Rahul) creates confusion and fear among the countrymen... The countrymen should beware of such people. Creating confusion can be an act committed by anti-nationals. It is not appropriate, no patriot can do such a thing," Singh said.
He was speaking on the sidelines of the 'Handloom Expo' here.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
CM Siddaramaiah writes to CMs of 8 states on unfair devolution of taxes by Centre
Bengaluru, Sep 11: Karnataka Chief Minister Siddaramaiah on Wednesday said he has written to the Chief Ministers of eight states regarding the "unfair" devolution of taxes by the Union government, and has invited them to a conclave in Bengaluru to collectively deliberate on the issues of "fiscal federalism".
He said he has written to the Chief Ministers of Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Haryana, and Punjab.
"States with higher GSDP (Gross State Domestic Product) per capita, like Karnataka and others, are being penalised for their economic performance, receiving disproportionately lower tax allocations. This unjust approach undermines the spirit of cooperative federalism and threatens the financial autonomy of progressive states," he said in a post on 'X' with "#OurTaxOurRight" hashtag.
"I have invited them to a conclave in Bengaluru to collectively deliberate on the issues of fiscal federalism at a juncture when the Finance Commission needs to make a directional shift & create incentives for growth and better tax mobilisation," he said.
ALSO READ: CM denies charge of "vendetta politics" behind panel to speed up probe into scams during BJP rule
Siddararamaiah has also posted the letter written to CMs of other states on 'X'.
"As you are aware the 16th Finance Commission has begun its deliberations. The previous Finance Commissions have laid excessive emphasis on equity at the cost of efficiency and performance. As a result, states with higher GSDP per capita and higher contribution to the gross tax revenues of the union are progressively receiving lower shares of the central fiscal transfers," he said.
Stating that during the visit of the 16th Finance Commission to the State of Karnataka, during 29-30, August 2024, he underscored the need to carefully examine the impact of high emphasis given to equity on resource devolution to well performing states, he said, "I have emphasised that the reduction in central financial transfers to well performing states is placing severe limitations on their ability to invest in physical and human infrastructure."
The taxpayers of states, which are net donors to the divisible pool, also expect a fair share of their taxes to come back to them, he said, adding that the Finance Commission therefore needs to carefully balance equity with efficiency and performance.
Pointing out that states with a strong contribution to the country's GDP and Gross Tax Revenue, help build the nation in more ways than one, Siddaramaiah said, therefore, there is an urgent need to balance equity with efficiency and performance for a stronger Union, both politically and economically.
"It is, therefore, important that states which are receiving smaller shares in horizontal devolution, compared to their contributions to the Gross Tax Revenues of the Union, need to articulate a coordinated set of proposals before the Commission," he said.
"It is my pleasure to invite you to a conclave in Bengaluru to discuss these issues further. I will send a separate invitation indicating the dates once we firm up the schedule," he added.
I have written to the Chief Ministers of Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Haryana, and Punjab regarding the unfair devolution of taxes by the Union government.
— Siddaramaiah (@siddaramaiah) September 11, 2024
States with higher GSDP per capita, like Karnataka and others, are being penalized… pic.twitter.com/SLqpNwVPDA
