Jagan synonymous with vendetta politics, says Janardhan Reddy
Referring to the demolition of Praja Vedika and Chandrababu Naidu's arrest, Reddy asked whether those weren't acts of political vengeance. 'Today, law is taking its course on the wrongdoings of the past. We exposed the liquor, land, and sand scams even before elections,' he said, accusing the YSRCP of looting thousands of crores, especially in the liquor scam.
The minister said nearly Rs 4,000 crore was siphoned off under the previous regime and hinted that the investigation would soon reveal where the money went and who benefited. 'If the probe proves guilt, no matter how powerful, punishment is inevitable,' he added.
Janardhan Reddy denied any personal vendetta in the ongoing probes, asserting that people voted the coalition to power for governance free of revenge politics. He criticised Jagan for predicting that the government would collapse in three years, questioning, 'Who is he to decide? People already dethroned him once. We have four more years to serve.'
Listing the coalition government's initiatives, he mentioned the Super six schemes, increased pensions, Deepam, Thalliki Vandanam, and upcoming free bus travel for women. He also took a dig at YSRCP's electoral downfall: 'If Jagan's governance was great, why did they fall from 151 to 11 seats?'
On the R&B front, the minister said the department was left in shambles by YSRCP, with 25,000 km of pothole-ridden roads, which the coalition repaired with Rs 1,200 crore. The government also cleared Rs 2,500 crore in dues left by the previous regime and is preparing DPRs for new roads.
Responding to ex-MLA R K Roja's comments, he said criticism of women is unwelcome but reminded that Roja herself had used abusive language against opposition families while in power. City MLA Arani Srinivasulu accompanied the Minister during the interaction.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
22 minutes ago
- Hindustan Times
Zojila tunnel completion delayed by over 2 years, Nitin Gadkari tells Lok Sabha
The Zojila tunnel project, poised to be Asia's longest tunnel, around 13 km in length, in Jammu and Kashmir, is more than two years delayed. It is a crucial link to provide all-weather connectivity between Srinagar and Leh. Union Minister for Transport and Highways Nitin Gadkari informed the Lok Sabha on Thursday that the tunnel will now be completed by February 2028, when it was previously scheduled to be ready by September 29, 2026. Previously, the government has said the average travel time to cross the Zojila pass, which sometimes takes three hours at present, will come down to 20 minutes once the tunnel is ready. (PTI File) Union Minister for Transport and Highways Nitin Gadkari informed the Lok Sabha on Thursday that the tunnel will now be completed by February 2028, when it was previously scheduled to be ready by September 29, 2026. Previously, the government has said the average travel time to cross the Zojila pass, which sometimes takes three hours at present, will come down to 20 minutes once the tunnel is ready. 'The project has been delayed due to multiple factors, including the impact of the COVID-19 pandemic, a terrorist attack at the Sonamarg Tunnel Project, and extreme adverse weather conditions,' Gadkari said in a reply to J&K National Conference MP Mian Altaf Ahmed Larvi from Anantnag-Rajouri constituency. The total cost of the project is Rs. 6809 crore, out of which an expenditure of Rs. 3934.42 crore has been incurred so far, with current physical progress standing at 64%, the minister added. As part of his reply, Gadkari added a total of 1,141 individuals are currently employed in the project. Of these, 77% are from Jammu & Kashmir, and 28% of the overall workforce is from the Ganderbal district. These details emerge after the Z-Morh tunnel at Sonamarg, another crucial part of the all-weather road connection between Srinagar and Leh, was inaugurated by Prime Minister Narendra Modi earlier in January. Currently, Ladakh does not have all-weather road connectivity with other parts of India. Both the Srinagar-Leh axis road and the Manali-Leh road are also subject to weather-related closures for five-six months of the year. The completion of the Zojila tunnel will not only be helpful in uninterrupted traffic flow between Srinagar and Ladakh for civilian purposes but also help military mobility and logistics support for deployed forces in the Ladakh sector.
Time of India
an hour ago
- Time of India
8th Pay Commission: What Rs 3 lakh crore boost for government employees mean for stock market investors
India's upcoming 8th Pay Commission , expected to result in a total payout of up to Rs 3-3.15 lakh crore to 11.2 million central government employees and pensioners in 2026, will provide a much-needed boost for stock market investors as the salary hike offers income boost to government employees and in turn leads to a large injection of disposable income, providing a much-needed boost to consumption. Sectors like passenger vehicles, BFSI, consumer durables, real estate, FMCG and QSR would benefit, according to experts. Explore courses from Top Institutes in Please select course: Select a Course Category others Artificial Intelligence Healthcare MBA Digital Marketing Public Policy Data Science Technology Leadership Cybersecurity Finance Data Science Project Management Data Analytics Management Operations Management Degree healthcare MCA Product Management PGDM Design Thinking CXO Others Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Even Beautiful Women Have Their 'Oops' Moments Read More Undo 8th Pay Commission Payout According to calculations done by Elara Securities, the pay commission will lead to Rs 3-3.15 lakh crore payout for both salaries and pensions, which is estimated to be 0.65-0.85% of projected FY27 GDP. This compares with 7th Pay Commission's total cost at Rs 1.02 lakh crore, which is equivalent to 0.66% of FY17 GDP. "Considering an employee distribution of 60% in lower salary levels (Salary grade 1-5), 30% in mid-levels (Salary grade 6–10), and 10% in senior levels (Salary grade 11–18), we estimate an overall average monthly gross salary increase of Rs 30,000-40,000 per month and monthly gross increase in pensions of Rs 15,000-18,000," Elara said. Live Events The 7th Pay Commission (Jan'16-Dec'25) had implemented a modest salary hike of around 14% (lowest since 1970). Ambit expects the 8th Pay Commission to announce a hike of 30-34% for salaries & pensions (around 15.5% of total expenditure) to cover around 11 million beneficiaries to boost consumption. Also Read | 8th Pay Commission: What could be the expected salary hike, fitment factor, and implementation date? Stock Market Set for Double Boost With the Unified Pension Scheme implemented from FY26, the government's contribution to pension fund (as % of employee salary) has increased to 18.5% from 14% earlier under NPS. "Of this, 8.5% is under the government's discretion as to where to park the fund. If it decides to follow global norms of parking around 45% in equities, flow into equity markets could increase from around Rs 245 billion to around Rs 465 billion (around 7.7% of net domestic flows in FY25)," Ambit Capital said. A simple back-of-the-envelope calculation suggests government and central government employees' contributions under the NPS would be Rs 1.2 trillion in FY26, of which Rs 182 billion would go into equities (assumed at around 15%, in line with default pattern under NPS scheme for Central government employees), it said. Under the UPS, about 20% of the salary would be under employee discretion as opposed to the entire 24% under the NPS. If the government invests 45% (per global average) of the remaining 8.5% that it contributes under the UPS in equities, the overall flows to equities will nearly double. Besides, additional money in the hands of government employees will either go to savings or consumption. A higher quantum of savings means more inflows into Dalal Street both directly as well as via the mutual fund route. Higher salary will mean higher consumption and therefore as seen in previous pay commission implementation periods, traditional sectors like housing and auto will likely benefit. Evolving consumption trends suggest increased demand for services, particularly QSR, and BFSI sub-sectors like insurance and non-lending financials, analysts say. As per historical trends, the passenger vehicles (PV) segment tends to benefit significantly during Pay Commission announcements. According to media reports, Maruti Suzuki witnessed a 31% year-on-year increase in sales to government employees once 7th Pay Commission was implemented in FY17. In FY09, after the 6th Pay recommendations (54% increase in purchasing power), government employees accounted for around 8% of Maruti's vehicle sales in 4QFY09, from earlier 3.5%, Ambit said. Similar trends were seen in the case of consumer durables, as growth was attributed to 7th Pay Commission payout. Company commentaries suggest that these are segments that have done well in the past, every time a Pay Commission rollout has happened, it said. Analysts at Kotak Equities also agreed that select discretionary consumption and savings have been key beneficiaries in past pay revisions. "Based on our estimate of Rs 2.4-3.2 lakh crore of additional income accrued by the central government employees, we expect an incremental Rs1-1.5 lakh crore of savings to be created, which may incrementally flow into a mix of physical savings, deposits and shares and debentures segment," the brokerage said.
Hans India
an hour ago
- Hans India
India doubles down on shipbuilding to become global maritime power
New Delhi: The shipbuilding industry in India is undergoing a transformational shift, as the government under Prime Minister Narendra Modi accelerates efforts to build a world-class maritime ecosystem, according to Sarbananda Sonowal, Minister of Ports, Shipping and Waterways. In line with the Maritime India Vision 2030 and the long-term strategic roadmap of Amrit Kaal, the Union Budget 2025 has announced a series of reforms and investments aimed at significantly enhancing the capacity and competitiveness of Indian shipyards. 'These initiatives are expected to strengthen India's position as an emerging global maritime power,' Sonowal said at the ongoing monsoon session of the Lok Sabha. Highlighting the government's commitment, Sonowal underlined the 'Shipbuilding Financial Assistance Policy which is being revamped to address cost disadvantages,' thereby helping Indian shipyards compete on equal footing with their international counterparts. The inclusion of credit notes for ship breaking in Indian yards reinforces the push towards a circular and sustainable maritime economy. To boost infrastructure financing, large ships above a specified size will now be classified under the Infrastructure Harmonised Master List, making them eligible for long-term, low-interest funding. Simultaneously, the government will facilitate the development of integrated shipbuilding clusters, equipped with modern infrastructure, skill development centres, and advanced technologies. This, the Budget notes, is aimed at 'increasing the range, categories and capacity of ships' built in India. In a landmark move to address the industry's need for long-term capital, the government has proposed a Rs 25,000 crore Maritime Development Fund, with up to 49 per cent government contribution. This fund will mobilise private and port-led investments to expand and modernise India's shipbuilding and repair capabilities. Recognising the long gestation nature of the industry, tax exemptions on Basic Customs Duty (BCD) for raw materials and components used in shipbuilding and ship-breaking have been extended for another 10 years. 'Our commitment to empower and enable our maritime sector is absolute and it is with this intent we are working under the dynamic leadership of PM Modi,' said Sonowal. To give Indian shipbuilders a competitive edge in public procurement, the government has extended the Right of First Refusal (ROFR) for tenders floated by public sector units. As per the Public Procurement (Preference to Make in India) Order 2017, vessels valued under Rs 200 crore must be procured from Indian yards, thereby reinforcing the goal of self-reliance in maritime assets. On the ship repair front, Cochin Shipyard Limited has inaugurated a Rs 970 crore International Ship Repair Facility (ISRF) in Kochi.
