Month: June 2019

The Economic Advisory Council to the Prime Minister (EAC-PM) said on Wednesday that India’s GDP estimation methodology is at par with its global standing as a responsible, transparent and well-managed economy.

A detailed note titled ‘GDP estimation in India: Perspectives and Facts’ rubbished former Chief Economic Adviser Arvind Subramanian’s claims that India’s average annual growth between 2011-12 and 2016-17 may have been over-estimated by about 2.5 percentage points — meaning that India actually grew at 4.5 per cent and not 7 per cent, between 2011-12 and 2016-17.

The note said Subramanian cherry-picked a few indicators and performed a rather unconvincing regression analysis to prove his hypothesis that India’s GDP was over-estimated post-2011-12.

For instance, Subramanian’s paper selectively ignores tax data based on the argument that the period post-2011-12 witnessed major changes in direct and indirect taxes.

The note said Subramanian’s analysis ended on March 31, 2017, while the only major tax change (Goods and Services Tax) was introduced on July 1, 2017.

In totality, the note highlights eight clear points with supportive facts and arguments that debunk Subramanian’s paper in entirety. The new methodology that uses 2011-12 as the base year includes two major improvements: incorporation of MCA21 database and incorporation of Recommendations of System of National Accounts (SNA) 2008.

“This change was in line with other countries that have changed their methodologies in line with SNA 2008 and revised their respective GDP figures.” On average, the real GDP estimates saw an increase of 0.7 per cent among OECD countries.

The note prepared with major contributions from leading economists Bibek Debroy, Rathin Roy, Surjit Bhalla, Charan Singh, and Arvind Virmani “reject Subramanian’s methodology, arguments, and conclusions on the basis of academic merit and grasp of Indian realities,” according to an official statement.

The note concluded with the point that India’s GDP estimation methodology is by no means a perfect exercise and the Ministry of Statistics and Programme Implementation is working on multiple aspects to improve the accuracy of economic data.

“However, the direction and pace of improvement is commendable and as of today India’s GDP estimation methodology is at par with its global standing as a responsible, transparent and well-managed economy,” said the statement.

“If anything, the weakness of Subramaniam’s attempt to suggest that the growth numbers are over-estimated confirms that the estimation process is robust to spurious criticism,” said the statement.

“Going forward, Indian National Income Accounting is bound to change for good and an important step in accomplishing that will involve criticism from experts and academics. But the country’s interests are not served by imparting sensationalism through the negativity that questions the credibility of the system,” added the statement.

(ANI)

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NDA candidate Om Birla was unanimously elected as the Speaker of the 17th Lok Sabha on Wednesday. Birla’s name was proposed by Prime Minister Narendra Modi and was supported by all major Opposition parties, including Congress, TMC, DMK, and BJD.

The YSRCP and TDP also supported Birla’s candidature.

Soon after Birla’s appointment, Prime Minister Modi went up to the Speaker’s chair and congratulated him.

“It is a matter of great pride for the House and we all congratulate Om Birla on being unanimously elected as the Speaker of the Lok Sabha. Many MPs know Birla well. He has served in the state of Rajasthan also,” Prime Minister Modi said.

The unopposed election of Birla, a two-time BJP MP from Kota in Rajasthan, was a smooth affair, however, it broke the record of women holding the post for the past 10 years.

In 2009, Meira Kumar became the first woman to be elected to the post during the UPA-2, while the NDA followed suit by nominating Sumitra Mahajan in 2014.

An agriculturist and social worker, the low-profile leader has been active in politics from his student days and served as state unit president of the Bhartiya Yuva Morcha in 1991 and as vice-president at the national level.

Birla was elected to the 17th Lok Sabha from Kota where he defeated Congress’ Ramnarain Meena by over 2.5 lakh votes. He was elected to the last Lok Sabha from the same seat.

Born on 23 November 1962, Om Birla completed his Masters in Commerce from Government Commerce College, Kota and the Maharshi Dayanand Saraswati University, Ajmer.

In 2003, he defeated Shanti Dhariwal, of the Congress by a margin of 10,101 votes, to win his first assembly election from Kota South. Subsequently, he won the Assembly polls in 2008 and 2013.

Birla was the Parliamentary Secretary (MoS rank) in the Vasundhara Raje government from 2003 to 2008. In the last Lok Sabha, Birla was a member of the Standing Committee on Energy in Parliament and member of Committee on Petitions and Consultative Committee for Ministry of Social Justice and Empowerment.

He has also been in-charge of the organisational revamp of the party in 2018 when the then Rajasthan Chief Minister Vasundhara Raje was drawing flak from the public.

He has also initiated several social welfare programs, including launching in 2012 Paridhan, an initiative which engages in distributing clothes and books for the poor and opened several blood donation camps.

(ANI)

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Ahead of Prime Minister Narendra Modi’s meeting with political parties on the ‘One Nation, One Election’ idea, the Congress-led UPA and the Trinamool Congress have opposed the concept.

Newly appointed leader of the Congress in the Lok Sabha Ahir Ranjan Choudhary told reporters after a meeting of the UPA chaired by Sonia Gandhi that the parties were opposed to the idea in principle.

Since some issues are to be sorted out, the UPA will meet again on Wednesday morning to discuss the issue further and take a common stand at the meeting called by Modi in the evening, said Chaudhary.

DMK, the second largest party in the UPA, and other Congress allies like NCP, IUML attended the meeting.

Prominent leaders who attended the meeting included UPA chairperson Sonia Gandhi, Rahul Gandhi, Adhir Ranjan Choudhary, K Suresh, all from the Congress party, TR Baalu, Kanimozhi of DMK, Supriya Sule of NCP, Farooq Abdullah of NC, Thirumaavalan Thol (VCK), NK Premachandran ( RSP), PK Kunhalikutty (IUML), and Thomas Chazhikadan of KC-M.

Earlier, TMC chief Mamata Banerjee wrote a letter to the government saying that she would not be able to attend the meeting called to discuss the issue of ‘One Nation, One Election’ idea.

In her letter to Parliamentary Affairs Minister Pralhad Joshi, she said: “Response on such a sensitive and serious subject like ‘One Country and One Election’ in such a short time would not do justice to the subject it deserves.”

She said that the matter required consultations with the Constitutional experts, election experts, and all the party members.

“Instead of doing the matter hurriedly, I would like to request you to kindly circulate a white paper on the subject to all political parties inviting their views by providing adequate time.”

“If you only do so, we will be able to give concrete suggestions on this important subject,” the letter further read.

Moreover, talking about the Aspirational Districts Programme, Banerjee said: “We have recently conveyed our views to NITI Aayog during its meeting, stating that we are not in support of selection of a few districts as Aspirational Districts as it would not conform to the overall objectives of achieving balanced and uniform development of all the districts of the State.”

The letter also said that the party will “whole-heartedly participate in the most befitting manner” in the celebration of 75 years of India’s Independence and 150th birth anniversary of Mahatma Gandhi.

The Central government has called a meeting of the presidents of all parties to discuss the idea of ‘One Country, One Election’ along with other issues of national importance on June 19.

(ANI)

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Senior Congress leader and West Bengal MP Adhir Ranjan Chowdhury was on Tuesday named by the Congress as its leader in the Lok Sabha after Rahul Gandhi is understood to have declined to take charge of the post.

He will be replacing senior Congress leader Mallikarjun Kharge, who served as the Leader of the Congress in the 16th Lok Sabha and lost the recent elections from Gulbarga in Karnataka.

Chowdhury, who will lead the the Congress which has 52 MPs, pips Manish Tewari, Shashi Tharoor and Kodikunnil Suresh, whose names were doing the rounds for the post of the Leader of Congress in the Lok Sabha.

There was also speculation that Rahul Gandhi would take over as Leader of the Party in the House after his decision to quit as Congress President, which has been rejected by the Congress Working Commitee.

The nomination of Chowdhury, a fifth term member from Berhampore in West Bengal, by Congress Parliamentary Party chairperson Sonia Gandhi at its meeting here earlier in the day at the residence of Sonia Gandhi, which was attended by Congress top brass including party chief Rahul Gandhi.

With only 52 MPs, the Congress, which is the main opposition, is unlikely to get the status of Leader of the Opposition if the norms applied by the then Speaker in the last Lok Sabha, are still followed. A party needs at least 10 per cent–55 seats– of the total strength of the house of 545 members, if it has to get the Leader of the Opposition status.

A former President of the West Bengal Congress, Chowdhury has the reputation of being a “fighter” and maintains a tough political line against the ruling Trinamool Congress in the state, notwithstanding the fact that at the national level, the Congress keeps its channels open with her.

Reacting to the appointment, Chowdhury thanked the party for giving him the responsibility and said he would lead from the front in the Lok Sabha.

“I have been given this responsibility, I was asked to stand in the front. I said okay. I am a foot soldier and foot soldiers stand in front. So I will fight as a foot soldier for the party,” he told ANI here.

Chowdhury is a former Minister of State (MoS) in the Railway Ministry in the UPA-II government. (ANI)

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The BJP MP Om Birla is the NDA nominee for the Lok Sabha Speaker’s post. The nomination of Birla, a two-time MP from Kota, Rajasthan has been supported by ten parties including Biju Janata Dal and YSR Congress.

The election is scheduled to be held on Wednesday.

“BJD, Shiv Sena, Akali Dal, National People’s Party, Mizo National Front, Lok Janshakti Party, YSRCP, JDU, AIADMK and Apna Dal have given the notice to support Birla’s candidature for the post of Lok Sabha Speaker. I have spoken to Congress leaders K Suresh and Gulab Nabi Azad. They have not signed till now but I think they would not oppose Birla’s candidature,” Parliamentary Affairs Minister Pralhad Joshi told reporters in New Delhi.

YSRCP and BJD are not allies of the NDA government at the Centre but have extended their support to Birla’s candidature.

Congress and N Chandrababu Naidu’s Telugu Desam Party have not given any confirmation to support the candidature of NDA candidate.

Birla, 57, was elected to Lok Sabha after winning elections from Kota parliamentary seat.

He defeated Congress’ Ramnarain Meena by over 2.5 lakh votes from Kota parliamentary seat in the recently concluded general election.

If elected, he will succeed eight-term MP Sumitra Mahajan as Lok Sabha speaker. Birla has been MLA from Rajasthan thrice and MP twice.

The development comes a day after the Protem Speaker Virendra Kumar was sworn in by the President and over 300 MPs took an oath during the inaugural session of the 17th Lok Sabha.

Previously, Manohar Joshi of the Shiv Sena was appointed Speaker in his first term in the Lok Sabha in the year 2002. Joshi succeeded Speaker G.M.C. Balayogi of the TDP, who was was appointed Speaker in his second term as MP and who died in a helicopter crash.

Sumitra Mahajan was the last Speaker of Lok Sabha.

She had earlier announced her decision to not contest the general elections and said that BJP is free to name a candidate from Indore parliamentary constituency.

In a press statement, Mahajan, an eight-time Member of Parliament (MP) from Indore, said that the reason behind the decision was the delay in announcing the BJP candidate from the Indore seat.

“BJP has not declared its candidate from Indore. Why this state of indecision? Possibly the party has some hesitation in taking a decision. Even though I had a discussion with the leadership long back and left the decision to the party, it seems they are still in a dilemma. Therefore, I announce that I will not contest the Lok Sabha polls and the party is free to decide, without any hesitation,” she said.

(ANI)

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