How would Ola, Uber cause truck sales to plummet: Yashwant Sinha

INDORE: Former BJP leader Yashwant Sinha on Saturday questioned Finance Minister Nirmala Sitharaman’s claim that rise of Ola and Uber affected …
INDORE: Former BJP leader Yashwant Sinha on Saturday questioned Finance Minister Nirmala Sitharaman‘s claim that rise of Ola and Uber affected the automobile sector, asking why the sales of trucks should also decline.

Those in power were making “weird” statements, the former finance minister said, talking to reporters here.

“People in the government are making weird statements. These statements will not lead to betterment of economy. But they will definitely affect the government’s image,” he said.

On Sitharaman’s statement about decline in the automobile sector, where she spoke about people using app- based cab services instead of buying car as one of the causes, Sinha asked, “If companies like Ola and Uber caused a drop in passenger vehicle sales, then why there is a slowdown in sales of two-wheelers and trucks?”

“Bihar’s finance minister (Sushil Modi) said there is recession due to Sawan-Bhado (the rainy season). A Union minister (Piyush Goyal) is talking about Einstein’s law of gravity,” the former BJP leader said.

Sinha also raised a question about Sitharaman’s announcement to organize a mega-shopping festival in India on the lines of Dubai Shopping Festival to boost exports.

“The economies of UAE (United Arab Emirates) and India are different. India’s economy will progress only when farmers in areas like Mandsaur in Madhya Pradesh progress,” he said.

“We should have grown at a rate of at least eight percent. But in the first quarter of the financial year, the GDP growth has come down to five percent,” he said.

The missing three percent growth meant loss of Rs 6 lakh crore in just one quarter, he claimed.

Asked about the government’s plan to merge certain public sector banks, he said, “I am not opposed to merger. But it will not reduce their non performing assets automatically.”

The process may in fact harm the banks as their officials will get tied up in completing merger formalities instead of focusing on actual banking, Sinha said.

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Former FinMin Sinha – How would Ola, Uber Cause Truck Sales to Plummet

Former BJP leader Yashwant Sinha and former Finance Minister of India (1998-2002) on Saturday questioned Finance Minister Nirmala Sitharaman’s …

Former BJP leader Yashwant Sinha and former Finance Minister of India (1998-2002) on Saturday questioned Finance Minister Nirmala Sitharaman’s claim that rise of Ola and Uber affected the automobile sector, asking why the sales of trucks should also decline.

Those in power were making “weird” statements, the former finance minister said, talking to reporters here.

yashwant sinha“People in the government are making weird statements. These statements will not lead to betterment of economy. But they will definitely affect the government’s image,” he said.

On Sitharaman’s statement about decline in the automobile sector, where she spoke about people using app-based cab services instead of buying car as one of the causes, Sinha asked, “If companies like Ola and Uber caused a drop in passenger vehicle sales, then why there is a slowdown in sales of two-wheelers and trucks?”

“Bihar’s finance minister (Sushil Modi) said there is recession due to Sawan-Bhado (the rainy season). A Union minister (Piyush Goyal) is talking about Einstein’s law of gravity,” the former BJP leader said.

Sinha also raised a question about Sitharaman’s announcement to organize a mega-shopping festival in India on the lines of Dubai Shopping Festival to boost exports.

“The economies of UAE (United Arab Emirates) and India are different. India’s economy will progress only when farmers

in areas like Mandsaur in Madhya Pradesh progress,” he said.

“We should have grown at a rate of at least eight percent. But in the first quarter of the financial year, the GDP growth has come down to five percent,” he said.

The missing three percent growth meant loss of Rs 6 lakh crore in just one quarter, he claimed.

Asked about the government’s plan to merge certain public sector banks, he said, “I am not opposed to merger. But it will not reduce their non performing assets automatically.”

The process may in fact harm the banks as their officials will get tied up in completing merger formalities instead of focusing on actual banking, Sinha said. PTI HWP ADU KRK

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Yashwant Sinha questions FM, asks how would Ola, Uber reduce truck sales

Former BJP leader Yashwant Sinha on Saturday questioned Finance Minister Nirmala Sitharaman’s claim that rise of Ola and Uber affected the …

Former BJP leader Yashwant Sinha on Saturday questioned Finance Minister Nirmala Sitharaman’s claim that rise of Ola and Uber affected the automobile sector, asking why the sales of trucks should also decline.

Those in power were making “weird” statements, the former finance minister said, talking to reporters here.

“People in the government are making weird statements. These statements will not lead to betterment of economy. But they will definitely affect the government’s image,” he said.

On Sitharaman’s statement about decline in the automobile sector, where she spoke about people using app- based cab services instead of buying car as one of the causes, Sinha asked, “If companies like Ola and Uber caused a drop in passenger vehicle sales, then why there is a slowdown in sales of two-wheelers and trucks?”

“Bihar’s finance minister (Sushil Modi) said there is recession due to Sawan-Bhado (the rainy season). A Union minister (Piyush Goyal) is talking about Einstein’s law of gravity,” the former BJP leader said.

Sinha also raised a question about Sitharaman’s announcement to organize a mega-shopping festival in India on the lines of Dubai Shopping Festival to boost exports.

“The economies of UAE (United Arab Emirates) and India are different. India’s economy will progress only when farmers in areas like Mandsaur in Madhya Pradesh progress,” he said.

“We should have grown at a rate of at least eight percent. But in the first quarter of the financial year, the GDP growth has come down to five percent,” he said.

The missing three percent growth meant loss of Rs 6 lakh crore in just one quarter, he claimed.

Asked about the government’s plan to merge certain public sector banks, he said, “I am not opposed to merger. But it will not reduce their non performing assets automatically.”


The process may in fact harm the banks as their officials will get tied up in completing merger formalities instead of focusing on actual banking, Sinha said.

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P Chidambaram Praises PM’s Speech, Adds A Message For Finance Minister

Mr Chidambaram’s comments came nearly two weeks after former Infosys Director Mohandas Pai alleged threat to businesses from “tax terrorism”, …
New Delhi:

Former Finance Minister P Chidambaram praised Prime Minister Narendra Modi for his Independence Day speech that drew attention to “population explosion”, plastic pollution and the need for not seeing “wealth creators with suspicion” – and added a message for the current Finance Minister especially on the last point.

“Of the three exhortations, I hope the FM and her legion of tax officials and investigators heard the PM’s second exhortation loud and clear,” Mr Chidambaram tweeted today, making a direct reference to Finance Minister Nirmala Sitharaman.

Of the three exhortations, I hope the FM and her legion of tax officials and investigators heard the PM’s second exhortation loud and clear

— P. Chidambaram (@PChidambaram_IN) August 16, 2019

PM Modi in his speech from the ramparts of the Red Fort had said, “Wealth creation is a great national service. Let us never see wealth creators with suspicion. Only when wealth is created, wealth will be distributed. Wealth creation is absolutely essential. Those who create wealth are India’s wealth and we respect them.”

Mr Chidambaram’s comments came nearly two weeks after former Infosys Director Mohandas Pai alleged threat to businesses from “tax terrorism”, and a report said Biocon Chairperson Kiran Mazumdar Shaw was told by a “government official” not to speak about issues such as income tax harassment.

Mr Pai also recounted an incident, where an official called up his colleague in Infosys and threatened to “shut him down”.

The founder of popular chain Cafe Coffee Day, VG Siddhartha, before his death last month in a purported suicide note had blamed “harassment” from a senior income tax officer as one of the reasons for taking his own life.

“There was a lot of harassment from the previous DG income tax in the form of attaching our shares on two separate occasions…” Mr VG Siddhartha said in the letter tweeted by news agency ANI on the day he went missing from a bridge near Mangaluru in Karnataka. His body was found two days later.

Mr Chidambaram, along with his son Karti, faces allegations of wrongdoing in allowing foreign direct investment when he was finance minister in UPA-1.

In this year’s Union Budget, Ms Sitharaman put companies with annual turnover of Rs 400 crore under the 25 per cent corporate tax bracket, covering 99.3 per cent of the companies operating in the country. Before the announcement, the lower rate of 25 per cent was applicable only to companies having annual turnover up to Rs 250 crore.

This move was welcomed by businesses.

The centre also maintains the initial difficulties to businesses in switching to the Goods and Services Tax (GST) have smoothened out now and the national tax has started to show results.

In today’s tweet, Mr Chidambaram also praised PM Modi’s suggestions on not using single-use plastic and concerns over runaway population growth. “The… exhortations must become people’s movements. There are hundreds of dedicated voluntary organisations that are willing to lead the movements at local levels,” Mr Chidambaram said.

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Does Congress suspect Data Analytics head Praveen Chakravarty was a Modi mole? This report …

Read also: Rahul Gandhi got conned by his own men: Report says ‘Big Data‘ head Praveen Chakravarty billed Congress 24 crores and is now …

According to the report, Chakravarty had met Rahul on 21 May, on the day of Rajiv Gandhi’s death anniversary, and had presented him a list of 184 potential winners of the Congress, along with their respective constituencies and projected margins. Praveen had assured Rahul Gandhi of securing 184 seats, even if turned out to be slightly inadequate, he had promised that Congress would not be less than 164.

Congress had also alleged earlier that he had conned the Congress party by presenting a bill of Rs 24 crores for his services and has not even provided the Congress with the hard disc of the data he had collected.

Reportedly, Chakravarty sent an email to the data analytics department of Congress detailing his reflections on how his shady data failed to give correct projections for Congress. Chakravarty washes his hands off the poll debacle and says how there is nothing much we (data analytics department) could have done. The mail reportedly did not mention the failure of Shakti app, Congress’ data app, from trying to read the Modi wave in the second term.

As per a party functionary, about 30-40% data in an earlier variation of Shakti app was fake in Karnataka, where it was launched before the May 2018 state assembly elections. Three months later, when Shakti app was launched, the focus was on the volume of data collected. A competition was also held where the one who collected most data would get to meet the party President Rahul Gandhi. Without checks in place, more fake data was collected. As per the report, about 50-70% of the data collected through Shakti app was fake.

Read also: Congress shields the clown prince, Praveen Chakravarty becomes the scapegoat for Rahul Gandhi’s electoral disaster

In fact, the report had suggested, without naming any senior functionary within the Congress, that Chakravarty fed the Rafale controversy into Rahul Gandhi’s head but a lot of senior leaders didn’t really follow the Rafale bogey Rahul was riding on.

Chakravarty was the founding trustee of the dubious database with faulty ‘fact-checker’ had also stated that the BJP victory in 2014 was a ‘black swan’ which could not be repeated. His analysis and data were found to be inconsistent with the reality as the BJP not only repeated it but even managed to outdo itself in terms of voter share. The ‘black swan’ managed to get almost 50% vote share, way above the 31% it got in 2014.

Congress seems to be desperate to shield the crowned prince and insist that the reason for defeat rests on someone else’s shoulder. After the string of mistakes that led to the 2019 debacle, Rahul Gandhi is now planning a nation-wide stir against EVMs.

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