Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Friday, October 04, 2013

Banks to offer cheap loans for bikes, fridges
Thu Oct 3, 2013: Indian banks will offer cheaper loans to stimulate demand for two-wheelers and other consumer durables as Finance Minister P. Chidambaram tries to pull the economy out of the worst slowdown in a decade ahead of national elections due by next May.

Banks will get additional capital to carry out the plan, the finance ministry said in a statement on Wednesday after a meeting between Chidambaram and new Reserve Bank of India (RBI) chief Raghuram Rajan.

The move comes at a time when persistently high inflation coupled with shrinking employment opportunities in a slowing economy have crimped consumer demand.

Growth in consumer spending slowed down to 1.6 percent year-on-year in the quarter through June from 4.3 percent a year earlier, dragging down economic growth for the quarter to a near four year low of 4.4 percent.

"While this will bring relief to consumers, especially the middle class, it is also expected to give a boost to capacity addition, employment and production," the ministry said in a statement.

Unlike China, India is largely a domestic demand-driven economy. Robust consumer demand helped shield the economy from the worst of the global financial crisis in 2008.

The move is expected to boost the production of consumer durables items such as two-wheelers, refrigerators, washing machines and televisions, which has been hit by high interest rates and inflation. The sector has failed to register growth since last November.

"It is a short-term measure and can help to boost demand for the consumer durables and auto sector," said N.R. Bhanumurthy, an economist at National Institute of Public Finance and Policy (NIP), a Delhi-based think tank.

India's worsening economic slowdown is a major worry for Prime Minister Manmohan Singh's government as it seeks a third straight term in upcoming national elections.

Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in this March - the lowest level in a decade - and some economists expect growth in 2013/14 to hit the lowest level since 1991/92.

That is nowhere near good enough for a country with India's demographics. It has a population of 1.2 billion and a per capita income of around $1,000.

Singh's government estimates the economy needs to be averaging 8 percent growth to generate jobs for the increasing numbers of youth joining the workforce.

The downturn has hurt the reputation of Singh, who was once hailed for unleashing the unprecedented economic boom of the past two decades. It has also allowed Narendra Modi-led opposition Bharatiya Janata Party (BJP) to gain momentum ahead of national elections.

(Writing by Rajesh Kumar Singh; Editing by Sanjeev Miglani)

Courtesy: Reuters