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Chennai on Sunday witnessed a rain-free morning, but cloudy weather returned ahead of the Indian Premier League (IPL) 2024 final between <keyword id="6354467" type="General" weightage="20" keywordseo="kolkata-knight-riders" source="Orion">Kolkata Knight Riders</keyword> (KKR) and <keyword id="1494441" type="General" weightage="20" keywordseo="sunrisers-hyderabad" source="Orion">Sunrisers Hyderabad</keyword> (SRH) at the <keyword id="20899355" type="General" weightage="20" keywordseo="ma-chidambaram-stadium" source="keywords">MA Chidambaram Stadium</keyword>. As per ESPNcricinfo, KKR's training session was disturbed by a sharp spell of rain lasting over an hour. However, at the time of 1 pm on Sunday afternoon, the rain peril appeared to be removed, having just a 4 per cent chance of precipitation according to Accuweather. In case the weather becomes the hurdle in the summit clash, there is a provision for a <keyword id="21810472" type="General" weightage="20" keywordseo="reserve-day" source="keywords">reserve day</keyword>. Notably, the 2023 <keyword id="19931" type="General" weightage="20" keywordseo="IPL-final" source="Orion">IPL final</keyword> in Ahmedabad went into the reserve day, where due to the rain the match was pushed to the finish of the match. In the match, Chennai Super Kings (CSK) chased down the revised total target of 171 in 15 against Gujarat Titans (GT) - at 1:35 am on what was actually day three. KKR finished the league stage on the top of the points table with nine wins, three losses and two no results, giving them 20 points. They earned a direct spot in the final by defeating SRH in the qualifier one. SRH got a second shot at the title in the qualifier two against Rajasthan Royals (RR) and they made the most of it by defeating the Men in Pink by 36 runs. Meanwhile, SRH captain Pat Cummins remarked that his golden run as captain in all formats of cricket has to end at some point in time. "It has been great. The run has got to stop at some point. It has been a great couple of years. I had not captained in T20 before this tournament. I did not know what to expect. It is quite fast-paced (in T20Is). Drawing on ODI captaincy last year, it (T20Is) did not feel too foreign," Cummins said in the pre-match press conference. The pitch for the final is a red-soil strip which was also used for CSK's match against Punjab Kings (PBKS) on May 1. On the playing surface, KKR captain Shreyas Iyer the wicket is different from what it was yesterday during the qualifier two between SRH and Rajasthan Royals (RR). "It is red soil, yesterday it was black. Looking through TV, we thought dew was going to play a role, but it did not the ball started spinning," he concluded. Irrespective of who comes out on top, the cricket fans and the sport itself will win, fortunate enough to witness what could the final game of a game-changing IPL.

IPL 2024 final: Will rain play spoilsport in blockbuster title clash between KKR-SRH?

Congress leader P. <keyword id="6362104" type="General" weightage="90" keywordseo="chidambaram" source="Orion">Chidambaram</keyword> on Wednesday took a swipe at the government citing a debate in UK <keyword id="6354721" type="General" weightage="40" keywordseo="parliament" source="Orion">Parliament</keyword> between Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> and opposition members after his return from India following G20 Summit, and said he wished such a debate took place in India's Parliament. Chidambaram in his post on X said, "Please read the reports of the debate in the House of Commons when MPs questioned Prime Minister Rishi Sunak on his talks with Prime Minister (Narendra) Modi. Hard questions by the Opposition, prompt answers by the Prime Minister." "It is not important who prevailed in the debate. What is important is that a debate took place in Parliament within hours of the Prime Minister's return to Britain. How I wish such a debate took place in India's Parliament. Such questions and answers were normal in Parliament when Jawaharlal Nehru was prime minister," the former Union minister said. His remarks came after Sunak returned to the UK after attending the G20 Summit in India and answered the questions of opposition leaders. The Congress has been critical of the Modi government over not allowing debates in Parliament over important issues. The Congress has on previous occasions accused the government of not allowing the opposition members to speak in Parliament on several pressing issues.

Wish such debates took place in India: Chidambaram after Sunak answers in UK Parliament

Tech Mahindra chief CP <keyword id="45924" type="General" weightage="100" keywordseo="gurnani" source="Orion">Gurnani</keyword> wants to transition from being a long serving captain in the IT industry to a "coach" after he retires from the company in December this year. The nomination and remuneration committee has extended the tenure of Gurnani till December 19, 2023 as it looks to work on the succession plan of Gurnani. While he did not divulge any further details on the succession plan, sources have indicated that internal candidates -- <keyword id="2493116" type="General" weightage="50" keywordseo="jagdish-mitra" source="Orion">Jagdish Mitra</keyword>, Manish <keyword id="30343" type="General" weightage="50" keywordseo="vyas" source="Orion">Vyas</keyword>, <keyword id="2173310" type="General" weightage="50" keywordseo="lakshmanan-chidambaram" source="Orion">Lakshmanan Chidambaram</keyword> are among top contenders for the post. Jagdish Mitra is currently serving as Chief Strategy Officer and Head of Growth, who has been with the group for last 30 years; Vyas is serving as President, Communications, Media and Entertainment Business, and CEO, Network Services and been with the company for last 23 years and <keyword id="6362104" type="General" weightage="50" keywordseo="chidambaram" source="Orion">Chidambaram</keyword>, currently serving as President for <keyword id="16133454" type="General" weightage="50" keywordseo="tech-mahindra-americas" source="Orion">Tech Mahindra Americas</keyword> and been with company since December 2012. Gurnani said that the succession plan will be finalised by the committee as per the corporate governance norms of the company. "I've done the same business for a very long time. I became a CXO at the age of 38 and am now stepping down at the age of 65. All I'm trying to say is that I've been a playing captain for a very long time. I will become a coach. I will no longer be a playing captain," Gurnani said. One of the longest serving CEOs in the technology sector, Gurnani told PTI that would like to see the other side of the world and pursue things that are close to his heart. "I have been one of the longest serving CEOs of the technology sector. I think it is fair that I get to see what the other side of the world looks like and I'm not talking about travel. I'm talking about a few things that I've always wanted to do in life. It is also good for the corporation that we get a new leader because a bit of rotation is like getting more oxygen into the system," Gurnani said. While talking about business, Gurnani said Tech Mahindra will continue to deepen its presence in Japan and Europe and look at opening delivery centres closer to the home of its employees. "I have always been a very big admirer of Japan, I will continue to create much deeper business interest in Japan. Frankly, I think Europe is a big opportunity now. Because overall Europe has felt the impact of the war. "The war has been closest to them. Every individual in Europe has paid a price by inflation and higher energy bills. I believe that some of our cost transformation initiatives would be very helpful to European clients. So, my focus will be Japan and Europe," he said. Gurnani said that the technology sector has matured and they have continued to serve their consumers, businesses, enterprises and corporates around the world by not taking a position. "The only area where there has been some conversations is there organizations which are using cyber attacks as a weapon," Gurnani said but declined to reveal further details. When asked about a broad strategic action plan that the company is planning to put in place this year, Gurani said that Tech Mahindra will look at distributing delivery centres across the country and near to the homes of its employees. "We continue to make technological investments in the future of technology. Right now it is AI, cloud, metaverse and we have already started investing in quantum computing. We want to be ahead of the curve. There are some of our products which I think will be able to commercialize them a lot better," Gurnani said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ril-q3-to-be-a-mixed-bag-muted-growth-in-o2c-robust-retail-and-jio-performance/articleshow/97094061.cms">RIL’s Q3 to be a mixed bag: Muted growth seen in O2C, robust performance projected for retail and Jio</a> <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-q3-net-profit-grows-69-yoy-to-1959-crore-margin-and-asset-quality-see-improvements/articleshow/97093861.cms">IndusInd Bank Q3 net profit grows 69% YoY to ₹1,959 crore, margin and asset quality see improvements</a> <a href="https://www.businessinsider.in/business/startups/news/udaan-shipped-over-1-7-billion-products-across-1200-cities-in-2022/articleshow/97086070.cms">Udaan shipped over 1.7 billion products across 1,200 cities in 2022</a>

Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement

<keyword id="43940" type="PERSON" weightage="20" keywordseo="P-Chidambaram">P Chidambaram</keyword>, former Finance Minister in the UPA government was arrested by the CBI (Central Bureau of Investigation) in a money laundering case of 2007. Who was once the most influential ministers during the 10 year long rule of the UPA government is behind the bars now waiting to be probed in the INX Media case. Here are the details about the case against <keyword id="6362104" type="LOCATION" weightage="20" keywordseo="chidambaram">Chidambaram</keyword>. The grounds of Chidambaram’s recent arrest The case filed against Chidambaram that led to his arrest is related to the INX Media scam. This is a 2008 deal that threatens to put the ex-minister into a serious trouble along with his son Karti Chidambaram. Though Chidambaram has claimed that he has no connections with the companies that have received the alleged bribe money in return to issuing an undue foreign investment promotion clearance to INX Media, the High court has recently identified him as the kingpin of the said scam. The details of the case against Chidambaram The underline of the case against Chidambaram is the accusation that he has helped the founders of INX Media to prevaricate justice even after they had been found to violate the foreign investment laws of the country. In the year 2007, INX Media allegedly received foreign funding of Rs 305 crores whereas they had secured permission to raise only Rs 4.62 crores as shares. When the firm was questioned by the Financial Intelligence Unit in 2008, the founders of INX Media allegedly contracted the firm that Karti Chidambaram owned in order to sort out the issue. The CBI now claims that rather than ordering to investigate into the said case, Chidambaram misused his powers through the Foreign Investment Promotion Board that was under him to grant fresh approval for the foreign funds that were already received by INX Media. The probe agency alleges that in return to the favors that Chidambaram did to INX Media, the kickbacks were routed to him through the Shell Companies connected to Karti Chidambaram. In February 2018, Karti Chidambaram was arrested and kept in jail for 23 days for interrogation. In March 2018, <keyword id="1210108" type="PERSON" weightage="20" keywordseo="Indrani-Mukerjea">Indrani Mukerjea</keyword>, the promoter of INX Media confirmed the CBI that a deal worth $1 million took place between them and Karti Chidambaram for making the FIPB grant the approval favoring the INX Media. She also turned as an approver in the said case on July 11, 2019. What is Chidambaram’s response to the allegations? In defending his innocence, Chidambaram has claimed that neither he nor any one in his family was accused of any kind of offence and that both the ED and CBI did not file a charge sheet or FIR against anyone of them. The sources close to him also said the companies that are involved in the INX media scam are not connected to Chidambaram or his son. They also claim that there had been no money trail that is found routing the alleged kickbacks to Chidambaram. What the Delhi High Court says? When reading out the judgment, Justice Sunil Gaur said, "Facts of the case prima facie reveal that petitioner (Chidambaram) is the kingpin, that is, the key conspirator in this case,"

What is the case against Chidambaram

New Delhi, Mar 6 () Finance Minister Nirmala Sitharaman on Friday hit back at senior Congress leader P Chidambaram for his jibe over crisis-hit Yes Bank's loan book swelling five times under BJP rule, saying "self-appointed competent doctors" created more problems in handling crisis at three banks during the UPA regime. She blamed Chidambaram for the crisis at Global Trust Bank in July 2004 and the problems at IDBI which had to merge with on-the-verge of collapsing United Western Bank in 2006. The Congress-led UPA had come to power in May 2004 and Chidambaram was the finance minister. Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, she said the crisis-hit lender's exposure to stressed corporates dates before 2014. "The exposure of Yes Bank to some of the very stressed corporates has been before 2014. These are public domain names and I am not violating any customer privacy - Anil Ambani (Group), Essel Group, DHFL, IL&amp;FS (and) Vodafone are some of the very stressed corporate to whom Yes Bank has been exposed," she said. Sitharaman said she is revealing these names as the opposition parties were "very keen to point fingers". "I am not here to continue carrying the stories of legacy. Yes, the Indian banking system has had severe challenges thanks to the way in which the government which existed between 2004-14 had handled the matter. I have reasons to put the blame on them," she said. Sitharaman went on to question Chidambaram's handling of the crisis at two banks under the UPA-1 rule. "So-called self-appointed competent doctors" were in charge when United Western Bank was "almost on the verge of collapse in 2006 and was forcefully merged with IDBI," she said. "Today if I have problems restoring good health of IDBI, I am giving you good examples of how self-appointed competent doctors had handled UWB merger with IDBI." IDBI, she said, went down because of UWB. "That was the treatment offered by those who speak today." "We have ensured that the interest of customers is kept safe, we are doing that. Their solution for UWB has resulted in IDBI also losing" its base, she said adding Global Trust Bank was merged with OBC and Ganesh Bank of Kurudher was merged with a private bank. "Easy merge it and wash your hands off," she said. "In all three you merged and washed your hands off." The former finance minister Chidambaram had in a series of tweets questioning the crisis at Yes Bank and asked why should state-owned State Bank of India (SBI) invest in the beleaguered lender. When overall bank credit between 2014 and 2019 grew by about 10 per cent, Yes Bank's loan book grew by about 35 per cent, he said. "Who knows, FM may blame the UPA for the miraculous jump between 2014 and 2019 !!!" FM is a short form of finance minister. "I understand FM has made a statement blaming the UPA. That's normal for a government living in ignorance. Does the FM know the numbers that I have tweeted? If she does, will she please explain how the loan book jumped in five years from Rs 55,633 crore to Rs 2,41,499 crore?" In another tweet, Chidambaram said, "SBI should take over the loan book of YES Bank for one rupee, recover the loans, and simultaneously assure the depositors that their money will be safe and will be returned." Sitharaman said she has repeatedly said that she will not allow any institution to fall off a cliff. "I do remember I said in the context of non-banking finance companies and we have been a daily basis monitoring the banking and shadow banking institutions," she said. Questioning Chidambaram's handling of banks, she asked action against how many people were taken by the UPA to task for the problems at banks. "And here you see them quickly jump to say 'oh no no you don't know what you are doing? You don't know how you are handling the economic affairs'," she said. "We are ensuring the customers' interest is intact, we are ensuring that depositors are assured and money is safe. You forcefully merge it off, let go off offenders and now ask questions uncomfortable for yourself." Stating that she has no problem answering questions on the handling of the economy, the minister said her government's approach so ensures institutions don't collapse and that they are kept in good health and interest of customers and depositors are kept safe. "We assure all the depositors that their money is safe. We shall ensure that speedily this will be resolved and restructuring will happen in the interest of depositors and economy," she added. JD ANZ MKJ

Sitharaman hits back at Chidambaram for jibe over Yes Bank crisis

(Eds: Adding more quotes) New Delhi, Feb 10 () Former Finance Minister P Chidambaram on Monday tore into Narendra Modi government's handling of the economy, saying it was "perilously close to a collapse" and was being attended to by "incompetent doctors". The economy, he said, was facing twin problems of rising unemployment and falling consumption but the government continues to live in denial. Initiating the debate on the Union Budget for 2020-21 in the Rajya Sabha, Chidambaram said more money needs to be put in hands of people and not give "extraordinary powers" to junior taxmen to unleash "tax terrorism." He offered Finance Minister Nirmala Sitharaman the same advice that Modi as BJP's prime ministerial candidate had offered him in November 2013. On "November 2, 2013, a very distinguished political leader said and I quote: "Economy is in trouble. The youth wants jobs. Devote more time to the economy, not on petty politics. Please focus on the job at hand. Very wise advice. I can't do anything better than reading this piece of advice to the Finance Minister", he noted. According to him, the economy was facing structural problems but the government continues to believe they were cyclical in nature. Modi government's chief economic adviser for four years, Arvind Subramanian, has stated that the economy is in the ICU (Intensive Care Unit). But "I would say the patient has been kept out of the ICU and incompetent doctors are looking at the patient," Chidambaram said. "It is dangerous to have a patient out of the ICU and being looked upon by incompetent doctors. What is the point standing around and chanting slogan 'Sab ka Saath, Sab ka Vishwas'," he said. According to Chidambaram, the BJP government lives in denial, refuses to acknowledge its mistakes and has an "outdated" predisposition towards protectionism and a strong rupee, and is against bilateral as well as multilateral trade agreements. "We have an economy which is perilously close to collapse. It has to be attended to by very competent doctors. In the last few years, we have found the doctors are not so competent," he said. "We are living in denial and we are ignoring two big elephants in the room -- one is rising unemployment and the other is fall in consumption. Unemployment rises, consumption falls, the Indian economy becomes poorer and not richer," he noted. Chidambaram called demonetisation of old 500 and 1,000 rupee notes as well as the hurried implementation of a "flawed" Goods and Services Tax (GST) with wrong design, rates, structure and procedure and an unprepared system as "monumental blunders" that ruined the economy. "Because of its refusal to admit mistakes, because it lives in denial, because of its predisposition, the government either does not know or if it knows is not willing to make it clear that this is the state of the economy," he said. With an unprecedented six consecutive quarters of falling growth, the economy is facing demand constraints and is investment-starved, he said. "When we point out the mistake of the government, the government must have an open mind to debate and if it is a mistake, admit it." "It is living in denial. It simply does not accept that the state of the economy is extremely bad," Chidambaram said as he reeled out the government's own statistics to drive home the point. While GDP has fallen to an 11-year low of 4.5 per cent in 2019 July-September quarter, agriculture is growing by just 2 per cent, while consumer price inflation has risen from 1.9 per cent in January 2019 to 7.4 per cent in a matter of 11 months. Also, food inflation is at 12.2 per cent. Bank credit is growing 8 per cent with non-food credit rising by 7-8 per cent and credit to the industry by just 2.7 per cent. Credit to agriculture has declined from 18.3 per cent to 5.3 per cent and that for MSMEs from 6.7 per cent to 1.6 per cent, he said. "Who are your doctors?, I want to know," he said, adding the government considers Congress as an untouchable and does not think of any good about the rest of the Opposition and so doesn't consult them. Chidambaram charged that instead of putting money in the hands of people, the Modi government "puts money in hands of 200 corporates" by way of cut in corporate tax. Stating that every competent doctor that the Modi government could ever find has left the country, he listed out former RBI governors Raghuram Rajan and Urjit Patel, former CEA Arvind Subramanian and former NITI Aayog Vice Chairman Arvind Panagariya as persons who quit during the BJP rule. "Fear and uncertainty prevail in the country," he added. Chidambaram also attacked Sitharaman for reading out a 160-minute speech without talking about the state of the economy and its management. "Question on my mind is what was the Finance Minister trying to say? If you take 160 minutes to read the speech and still few pages are left to read, what is the narrative, what is the story you are trying to say. "You are living in echo chambers. You want to hear your own voice," he said. Chidambaram said overall industrial index showed just 0.6 per cent growth with every major industry being at either near-zero or in the negative zone. Thermal power plants are operating at just 55 per cent of the capacity as factories have either closed or are on the verge of closure, he added. "That gives you a good picture of the state of the economy. You don't require a MRI," he said. "You are in management for six years. How long can you blame previous managers," he added. Further, Chidambaram said the government was burying unfavourable reports such as the labour survey that put unemployment at 45-year high of 6.1 per cent at the end of 2017-18. As also the one that talked of consumer expenditure falling to 3.7 per cent between 2011-12 and 2017-18, he noted. ANZ RAM MKJ

Economy perilously close to collapse, being attended by incompetent doctors: Chidambaram

New Delhi, Jan 20 () Karti Chidambaram, son of former Union minister P Chidambaram, appeared before the Enforcement Directorate on Monday for questioning in the INX Media money-laundering case, officials said.
The investigating officer of the case recorded the statement of Karti, a Congress MP from Tamil Nadu's Sivaganga, under the Prevention of Money Laundering Act (PMLA).
He was last questioned in this case in October last year. 
The MP has been questioned multiple times by the agency in the past in connection with this case, in which his father and Congress leader P Chidambaram has also been quizzed.
The senior Chidamabaram had been arrested in this case by the CBI and the Enforcement Directorate (ED) last year and had to spend over 100 days in custody before he was released in early December. 
 Karti too was arrested in this case by the CBI.
It is understood that Karti is being questioned on some fresh leads obtained by the agency, besides being confronted him with the statements of other witnesses and accused in the case.
In 2018, the ED had attached Karti's assets worth Rs 54 crore that were located in India, the UK and Spain in connection with the INX Media case.
Agency sources had earlier alleged that P Chidambaram and Karti were the "beneficial owners" of several shell firms that were incorporated in India and abroad in connection with a Foreign Investment Promotion Board (FIPB) approval given to the INX Media group during the former's tenure as the Union finance minister.
The central agency's probe found that the alleged kickbacks so received by the father-son duo were used to meet their "personal expenses". 
 They put the money in over two dozen foreign accounts and purchased multiple immovable assets in countries such as Malaysia, the United Kingdom and Spain among others, according to the ED. NES NES TIR
TIR

INX Media PMLA case: ED questions Karti Chidambaram again

New Delhi, Feb 1 () Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government is in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs.
There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
He said the government "does not believe" in reforms and certainly not in structural reforms as Finance Minister Nirmala Sitharaman has outrightly rejected every reform idea in the Economic Survey.
"Did the FM read the Economic Survey? Was the chief economic adviser privy to the content of the Budget speech? I think the answer to both questions is in the negative," Chidambaram said.
There were multiple themes, segments and programmes in the Budget speech, leaving the listener dazed and confused, he claimed.
"It was a laundry list of old (that is current) programmes. I am pretty certain that even the most loyal BJP MP or supporter cannot latch on to any idea or statement in the Budget speech and take it to the people," Chidambaram said.
If the ongoing programmes have failed the people, how can throwing more money into the ongoing programmes change anything, he asked.
"The government has given up on reviving the economy or accelerating the growth rate or promoting private investment or increasing efficiency or creating jobs or winning a greater share of world trade," he said.
The Indian economy is demand-constrained and investment-starved, and the finance minister has not acknowledged these two challenges, he said.
"You did not ask for such a budget and you did not deserve such a budget for voting the BJP to power. But you have to live with it until the government is forced to revisit it, as it did in 2019," Chidambaram said.
Finance Minister Sitharaman announced cuts in personal income tax, extended tax benefits for affordable housing and gave relief to companies on payment of dividend in the Union Budget as the government looked to boost consumption to bring the economy out of the worst slowdown in 11 years. SKC/ASK ASK ABH
ABH

Govt has given up on reviving economy, accelerating growth, creating jobs: Chidambaram

New Delhi, Feb 11 () Finance Minister Nirmala Sitharaman on Tuesday sought to debunk claims of data fudging by the government and said the government was not hiding any numbers. "No resources have been cut down for anybody but I wish to assure all members who participated during the discussion that the government is keen to work together with everybody and we want the economy to gallop," Sitharaman said replying to a debate on the Union Budget 2020-21 in the Rajya Sabha. Without naming Congress leader P Chidambaram, she took on the former finance minister for his remarks that the chief of defence staff should strongly protest against the reduced budget allocation for defence sector and that his party would stand in his support. Talking about previous UPA government, Sitharaman said "the entire defence ministry was paralysed, the defence of India was paralysed, they did not have an equipment and look at the way, bullet-proof dresses were not available". "What about Rafale? Why didn't they buy it?. So having paralysed the defence of India, it is very odd that a former minister wants the defence ministry to protest. I am shocked at the way in which governance is being treated," she said. In a marginal hike, the defence budget was increased to Rs 3.37 lakh crore for 2020-21 against last year's Rs 3.18 lakh crore, notwithstanding expectations of a significantly higher allocation to fast-track long-pending military modernisation efforts. Sitharaman had served as Defence Minister in the first term of the Modi government. Speaking on allegations and questions raised on the data and account fudging by the government, she highlighted that between 2005-2006 and 2010-11, every year there was issuance of oil bonds. She asserted that Modi government has not fudged any accounts. "The total of oil bonds issued was Rs 1.4 lakh crore or 1.9 per cent of then GDP. Even today, we are paying annually Rs 9,900 crore on these bonds as interest. "Alright the government borrows and we have to pay interest. Understood. Government's liability on oil subsidy is something where we all have to see when we are talked down to fudging of accounts," Sitharaman explained. She said the government liability on oil subsidies was shifted to oil marketing companies during the UPA rule so that their books appear nice and they don't have too much of overload. Between 2012 and 2013, foreign investment recorded a negative 36 per cent growth, the minister said, adding, "literally FDI ran out of this country. And this is competent doctors holding the economy together". Referring to fiscal deficit data, she asserted that under Prime Minister Narendra Modi's leadership, fiscal discipline has been maintained all through She read out the fiscal deficit numbers between 2014-15, till Budget Expenditure 2020-21 to back her assertions. RSN NKD MJH CS ANZ RAM

Sitharaman seeks to debunk data fudging claims, takes on Chidambaram over defence budget allocation

New Delhi, Feb 11 () Finance Minister Nirmala Sitharaman on Tuesday hit back at former minister P Chidambaram for his 'incompetent doctors' attending to economy remark, saying there was nothing to learn from the people who gave the mountain of NPAs along with twin balance sheet crisis.Replying to the debate on her Budget for 2020-21 in Rajya Sabha, she said FDI "ran out of the country in 2012-13" under "competent doctors" overseeing the economy.She said defence of India was paralysed and did not have equipment under the UPA.There was more sarcasm than content in Chidambaram's criticism of the Budget, she said. "We are certainly predisposed about not repeating mistakes of UPA."She went on to list the twin balance sheet crisis faced by the banks and the mounting NPA and fleeing defaulters.Also, free trade agreements (FTAs) entered into by the UPA are hurting the country, she said.The finance minister said green shoots of recovery were visible with a rebound in industrial activity and GST collection crossing Rs 1 lakh crore-mark in six months of the current fiscal.Food inflation has not been allowed to cross acceptable thresholds under the Modi government, she said.The minister also said that fiscal discipline was maintained all through under the Narendra Modi government. RSN NKD ANZBAL

Sitharaman hits back at Chidambaram, says nothing to learn from those who gave NPA crisis

New Delhi, Jan 5 () Crediting three successive finance ministers -- Pranab Mukherjee, P Chidambaram and late Arun Jaitley -- for Sebi's strong action against Sahara Group, the market regulator's former chief U K Sinha has said the three leaders stood their ground and did not interfere in the matter despite repeated attempts by vested interests.
Sinha also praised former Prime Minister Manmohan Singh for his sound advice on how to balance the multiple roles of Sebi, and applauded current Prime Minister Narendra Modi for being a "very inquisitive" leader and always being firm in his belief that no person big or small should be spared for any wrongdoing. 
Sebi had ordered Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) in 2011 to refund the money raised from investors through certain bonds known as Optionally Fully Convertible Bonds (OFCDs).
According to their own admissions, the net amount raised by the two companies was more than Rs 24,000 crore from over 3 crore investors.
After a long process of appeals and cross-appeals, the Supreme Court on August 31, 2012 upheld Sebi's directions asking the two firms to refund the money collected from investors with 15 per cent interest.
In his new book 'Going Public: My Time at Sebi', Sinha has said that the Sahara case attracted substantial media attention and political leaders across the party took keen interest in the matter.
The biggest and most expensive legal minds in the country appeared for Sahara at various stages.
During the meetings of the parliamentary standing committee on Finance, and even outside, questions were raised as if one business group had been targeted in a singular manner in trying to amend the Sebi Act, Sinha added.
The former Sebi Chairman, during whose tenure the case was at its most important juncture, also said that attempts were made in a variety of ways, including threats of raising privilege motions in the Parliament and by intimidating Sebi officials.
"However, it goes to the credit of successive finance ministers -- Mukherjee, Chidambaram and Jaitley -- that they stood their ground and didn't interfere in the matter," he added.
In addition, he said the ministers and officials of the finance ministry also deserve credit for upholding the rule of law and keeping up the morale of Sebi officials.
 In his book, Sinha has also mentioned about his meetings with the two prime ministers.
He said Singh always had some sound advice on how to balance the multiple roles of Sebi and what the main focus area for the government is at any given time.
 Writing about Modi, the former chief of Sebi said he always came across as being very inquisitive and his priority was to make market supervision strict.
"Nobody should be allowed to get away after committing irregularities, deterrent action should be taken against the perpetrators. The biggest strength was his (Modi) firm belief that no person, big or small, should be spared," the former IAS officer has written in the book published by Penguin India.
With regard to the Supreme Court, Sinha said the apex court took several extraordinary measures, such as prohibiting all the other courts and tribunals from dealing with this matter, appointing a retired Supreme Court judge to monitor the progress made by Sebi and directing that the money be deposited with the regulator.
"The fact that about 60 per cent of the principal amount has been realised or received is because of the steadfastness of the Supreme Court," he noted. 
Sahara Group has been maintaining that it had already refunded almost the entire money collected from investors and the funds it had to deposit with Sebi for further repayment to the bondholders of its two companies amounted to double payment.
As per the latest disclosed figures, Sebi has been able to distribute nearly Rs 100 crore to genuine investors who had filed their claims, out of over Rs 20,000 crore collected from Sahara and the interest earned on that. SP BJ ABM
ABM

Credit goes to Mukherjee, Chidambaram and Jaitley for strong action against Sahara: Sebi ex-chief Sinha

<ul><li>The former Finance Minister of India succumbed to sustained illness today (August 24).</li><li>For a politician who never won an election, Jaitley remained largely relevant and influential throughout his career spanning decades.</li><li>Jaitley famously backed Narendra Modi in his early days and even when the party's leadership denounced the latter, he stoody by Modi.</li><li>In a world where friendships are forged with secrets and power, Jaitley was everyone’s confidante, philosopher, and guide. </li></ul>India’s former Finance Minister Arun Jaitley passed away after sustained illness at the age of 66 after an impressive political career spanning decades when he never won an election but was always relevant and maintained his deep influence in Indian politics. Jaitley, along with the former Foreign Minister, the late Sushma Swaraj -- <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">who passed away earlier this month</a>-- were instrumental in keeping the Bharatiya Janata Party relevant, as an opposition party, in the ten years preceding 2014 when Narendra Modi swept to power as India's Prime Minister. Modi himself owes a lot to Jaitley for his rise to political prominence in India. Not just Modi, even the BJP's harshest critics found it way easier to deal or negotiate with Jaitley. A very apt example of Jaitley's realpolitik, his ability in the <a href="https://www.livemint.com/Politics/1JEYCQDdw88BvxjCIHATxK/Reforms-are-the-art-of-the-possible-Arun-Jaitley.html" data-type="tilCustomLink" target="_blank">'art of the possible'</a>, is the rollout of the complicated Goods and Services Tax (GST) in 2017, through the GST Council-- which Jaitley led until May 2019-- where Jaitley had to convince state governments with conflicting interests to find a common ground. It is not possible to be a successful politician or a lawyer without making a few enemies. But the smooth-talking Arun Jaitley, who studied at St Xavier's and Shri Ram College of Commerce, wore both these hats causing little or no animosity around him. Paradoxically, Jaitley was also sharp-tongued and temperamental by nature but he dictated his mood and not the other way around. When the Supreme Court struck down an Act which intended to break the age-old collegium system of appointing higher judiciary, Jaitley was quick to call it the “tyranny of the unelected”, something he knew it will be thrown back at him for his electoral failures. Jaitley remained an nominated member of the Rajya Sabha, the upper house of Indian Parliament, from 2000 to 2018 as he never won an election. The Former Chief Justice of India, RM Lodha, did taunt him in <a href="https://www.youtube.com/watch?v=tD2GNu556aA" data-type="tilCustomLink">a televised national debate in 2015</a>. But Jaitley was prepared and he knew how to direct the debate in the direction he wanted. That was his skill, the ability to know the strengths and weaknesses, not just of himself but of his rivals too, like few else can. Watch the riveting debate between Arun Jaitley and Former Chief Justice of India RM Lodha over the National Judicial Appointments Commission in 2015. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="Youtube" id="tD2GNu556aA" title="NJAC Debate with Arnab Goswami | Legislature Vs Judiciary | Arun Jaitley Vs Justice R M Lodha - Full" thumbUrl="https://i.ytimg.com/vi/tD2GNu556aA/mqdefault.jpg"></div>













































 Jaitley could see the future and he placed his bets, and made friends, accordingly right from the days as a student politician, to when he became a lawyer and later, the member of the Bharatiya Janata Party (BJP). Jaitley was Vajpayee’s man who stood by Modi Years before Narendra Modi became the Prime Minister and was barely a politician of any significance, Jaitley became his friend. Modi was living out his exile from Gujarat politics in 1995 at the BJP party headquarters in Delhi, when he met Jaitley--who was then called ‘Vajpayee’s man’. Jaitley had lobbied for <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379">Modi and turned </a>instrumental in making him the chief minister and later the country's Prime Minister. And his ability to network was so slick that even when he chose sides, he made no foes. For one, he chose Modi over LK Advani as the Prime Ministerial candidate in 2013, and yet remained close to the latter. Years later, everyone came to know Jaitley as Modi’s man. The current Prime Minister had so much confidence in Jaitley that during the first five years of the Modi government, Arun Jaitley held the portfolios of Finance, Corporate Affairs, Defence, and Information and Broadcasting-- and at times he was in multiple important portfolios simultaneously. A <a href="https://caravanmagazine.in/sports/rajat-sharma-the-ddca-and-the-perks-of-a-close-friendship-with-arun-jaitley" data-type="tilCustomLink" target="_blank">similar friendship forged with Rajat Sharma</a>, the founding editor of India TV, one of India's most influential television channels, lasted Jaitley's lifetime. Sharma reportedly used to drive Jaitley around the Delhi University on his scooter while the latter was campaigning as a student politician in the 1970s. Jaitley represented both Coke and Pepsi as a lawyer against each other at different times He could have even written the famous book ‘How to make friends and influence enemies?’ if Dale Carnegie wouldn’t have beaten him to it. Jaitley had represented two of the world’s most bitter rivals—<a href="https://www.sify.com/news/how-everybody-loves-arun-jaitley-news-columns-pmwpk3ebbdfjd.html" data-type="tilCustomLink" target="_blank">Coca Cola and Pepsi as a lawyer</a>. He was Coca Cola’s lawyer for a case against Pepsi and vice versa. Though many would have rolled their eyes at this feat, for him it was a small game. Jaitley's frienship with rivals Sonia Gandhi and P Chidambaram In the <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379" data-type="tilCustomLink" target="_blank">long list of unlikely friends</a> is Sonia Gandhi, the head of the rival Congress party, and former Finance Minister, and a lawyer turned politician just like him, P Chidambaram. Jaitley seemed to have gotten through his life keeping all his friends along with a successful career. But many of his friendships were tested, in court as well as Parliament. In 2012, Jaitley was a part of the Opposition party, and he was chosen to question and grill P Chidambaram, the home minister of the ruling Congress party about <a href="https://www.business-standard.com/about/what-is-aircel-maxis-case" data-type="tilCustomLink" target="_blank">the Aircel-Maxis deal</a>. Chidambaram started answering the question by saying that <a href="https://www.business-standard.com/article/opinion/aircel-maxis-deal-probe-will-test-friendship-between-chidambaram-and-jaitley-116030300275_1.html">he was happy that </a>“a friend of 22 years has questioned him.” Though later through the session, Chidambaram turned emotional and “felt as if someone plunged a dagger into him.” Their friendship withstood the barbs, the scams, as the Congress politician continued to attend Jaitley’s annual lunch parties which also doubled as his <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379">birthday </a>celebration. Jaitley's rivalry with Subramanian Swamy and Ram Jethmalani Two of Jaitley’s most vicious critics are country’s top lawyers Ram Jethmalani and BJP leader Subramanian Swamy. Both have <a href="https://www.pgurus.com/mr-arun-jaitley-hope-you-have-learnt-your-lesson-for-treating-sonia-family-with-kid-gloves-you-owe-answers-in-mallya-exit/" data-type="tilCustomLink" target="_blank">passed vitriolic comments</a> against Jaitley and they both had old beefs to settle. Jaitley was once the legal assistant to Jethmalani. Yet, the camaraderie did not last long. Jaitley is known to <a href="http://www.indialegallive.com/commercial-news/controversy-news/battle-legal-eagles-21529">have influenced Vajpayee </a>to push Jethmalani from his position as the law minister unceremoniously. The fire-breathing lawyer had never forgiven Jaitley nor forgotten the slight, and had used every excuse to criticise him. He also went back to court as Delhi chief minister Arun Kejriwal’s lawyer in a libel case, just for the pleasure of cross-examining his old adversary. But Jaitley was not a man to be easily undone either and kept his cool, passing the bitter examination with flying colours. Jaitley was also not undone even as Swamy questioned his every move. This rivalry too started when he found a legal loophole to deny the payment of his dues over a case he argued. Ever since, <a href="https://theprint.in/politics/subramanian-swamys-rivalry-with-arun-jaitley-goes-back-to-1993-iit-delhi-salary-row/219800/">he accused Jaitley </a>of being a Congress insider, instigator or a coup and much more. When Jaitley did try to clamp him over discipline, Swamy retorted, “People giving me unasked for advice of discipline and restraint don’t realise that if I disregard discipline there would be a bloodbath.” Jaitley wisely never rose to the bait, like a seasoned solider who picks his battles. Jaitley may be no more but the way he deftly maneuvered India's labyrinth political space will provide lessons in the art of the possible. In a world where friendships are forged with secrets and power, Jaitley was everyone’s confidante, philosopher, and guide. SEE ALSO: <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">India's 'supermom' Sushma Swaraj, the lady who redefined the country's Foreign Ministry, is no more</a>

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