Fundamentals of Indian economy are in good shape: Nirmala Sitharaman
New Delhi: While the value of
the dollar is increasing in the international market, the value of the Indian
rupee is also increasing. Union Finance Minister Nirmala Sitharaman asserted
that India's economic base is strong and inflation is low compared to other
countries. Speaking to the media after attending the annual meeting of the
World Bank and the International Monetary Fund in Washington, he said that the
country's inflation is at a manageable level. The fundamentals of India's
economy are sound. Microeconomics is basically good. Foreign exchange is also
good, he said. Outside international meetings, Minister Nirmala Sitharaman held
24 bilateral and more than 12 multilateral meetings. He said that the
government is trying to bring the country's inflation below 6 percent. Many
countries have been hit hard by external factors, the minister said, adding
that countries like Turkey have a double-digit inflation problem. Therefore, we
must be conscious of where we stand relative to the rest of the world. He said
that we are very conscious especially about the financial deficit. Responding
to another question about the decline in the Indian rupee, he said it was due
to the strengthening of the dollar. All other currencies are working against
the dollar. I will not talk about the technicalities, but the fact that the
Indian rupee has probably withstood this dollar rate, the exchange rate is in
favor of the dollar strengthening, the Indian rupee has been doing better than
many other emerging market currencies, he said.
The Enforcement Directorate is
'fully independent'; Not used for revenge: Nirmala Sitharaman
WASHINGTON: Finance Minister Nirmala Sitharaman has said
the Enforcement Directorate is 'completely independent', dismissing allegations
that the government is using the investigative body for political or vindictive
purposes. Addressing a press conference on Saturday at the end of his trip to
Washington to attend the annual meetings of the International Monetary Fund and
the World Bank, he denied the allegations, saying that he was not using the
Income Tax Department and the Enforcement Directorate (ED) to create any kind
of fear in the corporate sector and civil society. The ED is completely
independent in whatever it does and is a proactive crime-pursuing agency. First
the crime is taken up by the Central Bureau of Investigation (CBI) or some
other agency. Later he said that ED will investigate the case. Denying the
allegation that such investigative agencies are being used to go after private
capital and other sections of civil society, he clarified that investigative
agencies have not been used for any such malicious purpose. Asked if he wanted
to clarify and reassure the think tank communities about the role of ED and IT,
Sitharaman said, "Whatever ED does is only after getting proper
information and evidence." In no case does ED appear anywhere in the first
instance. I do not wish to comment on individual cases or methodology. But,
there are certainly instances that stand out. Sitharaman said that if the ED
goes there, it is clear that it has some prima facie evidence in its hands.
Boat capsize accident in Bihar: Seven
farm laborers killed
Katihar: Seven people died after a boat
capsized at the confluence of the Ganges and its tributaries in Bihar, an
official said on Sunday. According to Katihar District Collector Ujjaini
Mishra, 'The boat was carrying 10 people. All of them were agricultural
laborers returning from work. The boat sank at the confluence of Ganga and
Barandi late on Saturday night. In the accident, three people in the boat swam
to safety. However, the remaining seven are missing. The bodies were recovered
after an overnight search operation with the help of local divers and NDRF
personnel, he said. Meanwhile, Chief Minister Nitish Kumar has expressed grief
over the incident and has instructed the district administration to provide a
compensation of Rs 4 lakh to the families of each deceased.
Terrible accident near Araseikere in Hassan:
Tanker driver in police custody, Rs 2 lakh each for the family of the deceased.
Solution
Bengaluru: Chief Minister Basavaraja Bommai has announced a compensation of 2 lakh rupees to the family members of 9 persons who died late last night after paying darshan of Hassanambe at Dharmasthala Manjunath, Kukke Subrahmanya Temple and reaching Banavara of Araseikere in Tammur Hassan. Speaking to reporters in Bengaluru, he said, "An order has been given to give 2 lakh each to the family members of the deceased and appropriate treatment to the injured. I have instructed the authorities to take appropriate action and I have spoken to the SP there." The post-mortem examination of the deceased has been completed this morning and has now reached Swagram, where the family members and relatives are in mourning. The funeral will be held in Salapur, Doddenahalli and Banavara. Tanker driver in police custody: The milk tanker driver has been taken into custody by the police in connection with the horrific road accident case near Araseikere in Hassan. 9 members of the same family died tragically in a terrible road accident that took place between a tempo traveller, a milk lorry and a transport bus. Naveen, the driver of the milk tanker, who came on one way and caused the accident, left the vehicle and ran away after the accident. Navinnagha has now been taken into custody by Banavara police
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