IF the Modi government thought that it got a ‘clean chit’ from the Supreme Court on the Rafale deal and that it would be treated as the last word on the subject, it could not have been more mistaken. Rafale is back with a vengeance. Modi had to devote considerable time defending the deal in his marathon post-budget parliament speech and since then we have had explosive revelations concerning objections raised from within the Defence Ministry to the process of negotiation and terms of the deal.
MSMEs that have been badly hit by Note Ban and GST were offered a “Diwali gift” by Modi, announcing a website via which they could get loans of up to Rs 1 crore in 59 minutes.
A closer look reveals that this scheme is nothing but a way to cheat MSME loan applicants and siphon off their money to a private company that is owned by close cronies of Modi!
DID you think the Modi Government’s policy-makers could not come up with a more disastrous idea than even Demonetisation? If so, you’re wrong.
What Exactly is Sec 7
Section 7(1) of the Reserve Bank of India Act says the Centre may, from time to time, give such directions to the Bank, after consultation with the governor of the RBI, considered necessary in the public interest.
TWO years after demonetisation (November 2016) - Modi’s lies have unravelled and been exposed. The RBI has stated that 99.3% of the banned notes returned to the system - so the move did not wipe out black money.