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.....👍✌

Thursday, December 11, 2014

MPs put pressure on Raghuram Rajan to cut rates
Photo: Economy Lead
11 Dec, 2014:  RBI Governor Raghuram Rajan on Wednesday faced calls from members of Parliament to cut interest rates, adding to pressure on the celebrated economist, who has emphasised the central bank's independence since assuming office in September 2013 and has steadfastly refused to cut rates till the battle against inflation had been squarely won. 

Finance Minister Arun Jaitley said he agreed with the call for lower rates but added that the final decision was for the monetary authority, the RBI, to take.

"I am grateful that he (Saugata Ray, TMC MP) agreed with me, that now time has come with moderate inflation to bring down the rates. If you bring down the rates, people will start borrowing from banks to pay for their flats and houses. The EMIs will go down," Jaitley said. 

"I am sure that the authorities who are competent to deal with it are fully seized of this view notwithstanding the balancing exercise between inflation management and growth which they have to do," he added.

The FM has in the recent past often emphasised the need for a lower cost of capital but has always added the caveat that the final decision was up to RBI. Jaitley, who was replying to the debate on supplementary demand for grants in the Lok Sabha, was responding to comments by Ray and Congress leader Veerappa Moily charged that the government was insensitive to the problems of agriculturalists, industry and the manufacturing sector.

"In spite of (WPI) inflation easing to 2.82 per cent so far, interest rates have not been cut. There has been no spurt in manufacturing activity. I suppose, Mr Jaitley is helpless in the face of an economist governor of the Reserve Bank of India," Ray had said in his intervention. 

Moily also spoke in the same vein. "So far as interest rates are concerned, now it has become mature to reduce the interest rates. You agree that you have given statements in a number of places. Even the RBI governor agrees that it deserves it. Japan has done it and has reduced the interest rate. China has reduced the interest rate. Everybody has done it. But you refused to do that," he said.

RBI held interest rates steady in its mid-quarterly monetary policy review on December 2. While this outcome was widely expected by the market, some government officials had privately called for a cut in rates on the ground that wholesale inflation was below 3 per cent while retail inflation is below RBI's target of 6 per cent by January 2016. Further, GDP growth in the second quarter decelerated to 5.3 per cent from 5.7 per cent in the previous quarter.

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