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Sun, 30th April 2017

Anirudh Sethi Report

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Archives of “March 20, 2017” Day

Out of 690 new MLAs 192 have criminal cases, 540 are ‘crorepatis’: Report

Of the 690 newly elected MLAs to the five state assemblies as many as 192 have criminal cases against them, while 540 of the total are ‘crorepatis’, says a report.

National Election Watch (NEW) and Association for Democratic Reforms (ADR) have analysed jointly the self-sworn affidavits of 689 out of 690 newly elected MLAs in the five states of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. Details of one candidate have not been analysed.

“Out of the 689 MLAs analysed, 192 (28 per cent) MLAs have declared criminal cases against themselves,” the ADR report said.

Besides, 140 MLAs have declared serious criminal cases including cases such as murder and attempt to murder, up from 100 in 2012.

Uttar Pradesh has 36 per cent MLAs with declared criminal cases, followed by Uttarakhand (31 per cent), Goa (23 per cent), Punjab (14 per cent) and Manipur (3 per cent).

Moreover, there are 27 per cent MLAs with serious declared criminal cases in UP, Uttarakhand (20 per cent), Goa (15 per cent), Punjab (9 per cent) and Manipur (3 per cent), it said.

UP farm loan waiver: SBI report sees Rs 27,420 cr hit on banks

If the UP government fulfils its farm loan waiver promise, banks are likely to take a hit of Rs 27,420 crore and the scheme will lead to some stress on the state’s fiscal arithmetic, warns a report.

The BJP had in its UP election manifesto promised to waive farmers’ loans if elected to power. The party and its allies won a whopping 325 seats in the 403-member House.

An SBI Research report today said schedule commercial banks together had an outstanding farm credit of Rs 86,241.20 crore in UP with the average ticket size of Rs 1.34 lakh, as of 2016, most of which is to small and marginal farmers.

According to RBI data (2012), 31 per cent of the direct agriculture finance went to marginal and small farmers (landholdings upto 2.5 acre).

“Taking this as a proxy for UP as well, around Rs 27,419.70 crore will have to be waived off in case the farm loan waiver scheme is implemented for the small and marginal farmers, for all banks,” the report said.

As per the Socioeconomic and Caste Census of 2011, 40 per cent of rural UP households are engaged in cultivation. When it comes to landholdings, 92 per cent are marginal and small farmers in the state, according to the 2010-11 Agriculture Census.

Rand hits strongest level since August 2015 as dollar slide boosts EM

The rand was one of the biggest emerging market beneficiaries of the dollar’s slide on Monday morning, hitting its strongest level since August 2015.

Higher interest rates in the US are usually bad news for EM currencies, as they increases investors’ return from relatively safer American assets, but last week’s rate rise was accompanied by less hawkish than expected comments on the speed of future moves, sending the dollar on its longest losing streak since before the US election.

The buck’s slide prompted the best week for EM currencies in six weeks last week, and helped bring the MSCI Emerging Market stocks index to its highest level in almost two years.

Senator Hints That Trump May Resign: “I Think He Is Going To Get Himself Out”

It’s no secret that there is a concerted effort underway to do everything possible to remove President Donald Trump from office.

From Russian ties to business conflicts of interests, both Democrats and Republicans are actively working to find chinks in the President’s armor.

But for those with hope of change in their hearts, Democrat Senator Diane Feinstein says there is a possibility that Trump will eventually remove himself from office by filing his own resignation.

Speaking to a crowd during a town hall-style Questions and Answers session, Feinstein was asked how Congress is going to deal with Trump’s alleged illegal activities:

 Journalist: We don’t know what’s happening but we know that he is breaking laws every day, he’s making money at Mar-a-lago, he’s getting copyrights in China, he has obvious dealings with Russia, the Dakota pipeline… there’s some many things that he’s doing that are unconstitutional… how are we going to get him out?

 Feinstein: We have a lot of people looking at this… Technical people… I think he’s going to get himself out… I think sending sons to another country to make a financial deal for his company and then have that covered with government expenses… I think those government expenses should not be allowed.. we are working on a bill that will deal with conflict of interest… it’s difficult…

Videos of Feinstein speaking to what appears to be a local press pool of reporters and protesters appear below. You can jump to 1:30 in the first video to listen to Feinstein discuss Trump’s conflicts of interests, or watch from the beginning to hear Feinstein’s response to how her husband’s firm directly benefited from bills she voted into law, proving once again that the hypocrisy of socialist Congressional representatives from California has no bounds…

Part 1:

Part2:

Dijsselbloem calls for ESM to be turned into a European IMF

Jeroen Dijsselbloem is Minister of Finance of the Netherlands and is  president of the Eurogroup (the group of  euro zone finance ministers)

  • “I think it would make a lot of sense for the euro zone bailout fund ESM to be developed into a European IMF in the medium to long term”
  • That would also mean that Greece’s current “troika” of lenders – the European Commission, European Central Bank and the IMF – would need to be broken up in the longer term
  • “The ECB feels increasingly uncomfortable in its troika role, and rightly so I think”
Jeroen Dijsselbloem speaking with the German press –  Frankfurter Allgemeine Zeitung, Reuters have more