Sinking rupee

Both Sangh Parivar weeklies highlight the sinking feeling generated by the weakening rupee.

Written by The Indian Express | Published: August 29, 2013 4:15 am

Both Sangh Parivar weeklies highlight the sinking feeling generated by the weakening rupee. Articles by the same author in both talk about “indiscriminate foreign investment” and the spurt in gold imports necessitated by the assessment of the UPA’s “scamsters” of “gold as the safest bet”. “The corruption at highest levels also contributed to the payment crisis. Huge sums looted in Commonwealth Games,2G spectrum,allocation of coal bocks and others,were obviously supposed to be kept safely by scamsters and they found gold as the safest bet… This led to a big jump in import of gold and silver,” says the article in the Organiser,analysing gold import and its contribution towards the current account deficit. In its critique of the government’s attempts to woo FDI to partially offset the widening CAD,the article draws attention to the “annual income outgo of foreign exchange by foreigners on profits,dividends,royalties,interest,salaries,pension,etc”.

Both weeklies suggest that the government “impose effective restriction on imports,especially of consumer goods,telecom,power plants and other project goods which can be produced in India. Effective curbs on imports of gold and silver,provision of lock-in period on FIIs could also help. It is also imperative to restrict foreign companies to take away foreign exchange illegally,by way of transfer pricing or circumventing law of the land” to avoid a balance of payments crisis. Panchjanya,in its editorial,refers to Prime Minister Manmohan Singh’s doctoral thesis on Indian trade and suggests that his complaints against policymakers then appear to have come true against himself.

MANDIR CARD

The Uttar Pradesh government’s denial of permission to “84-kosi parikrama” being organised by the VHP has led to the Sangh Parivar critcising the Akhilesh Yadav government. An article in the Organiser argues: “SP government plays the minority card once again”. To substantiate the assertion,the article claims the denial of permission was done “at the behest of Azam Khan,the fanatic communal Muslim leader who is the sole guiding force behind Mulayam Singh Yadav”.

It also says that “throwing salt on the wounds,Akhilesh Yadav,the worthy son of a worthy father,announced the 20 per cent quota for minorities” in government schemes. Both weeklies underscore Ashok Singhal’s charge that the UP government’s decision was “dictatorial”,meant “to crush Hindu feelings only under pressure from the Muslim leaders”. With the VHP entering the 50th year of its journey,Pravin Togadia writes in the Organiser that the “VHP is present in all 450 (government) districts in Bharat and also in 5,868 Prakhands (taluk,etc) working through its 51,374 committees”. He reminds readers about its social work across the country.

MEDIA LICENCE

A report in the Panchjanya comes down against I&B Minister Manish Tewari’s suggestion of a licensing system for journalists. It says that Tewari’s proposal is an attempt to fulfil the Gandhi family’s decades-old wish of controlling the media “through the backdoor”. The article reminds readers of Indira Gandhi’s censorship imposed on the media during the Emergency and warns the government that this “suggestion”,if carried forward,will boomerang on the ruling party already struggling to find its feet amid various crises.

Compiled by Ravish Tiwari

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