Air Force Deputy Chief-People being "misinformed" on Rafale deal-current pact "much better" than earlier.

Air Force Deputy Chief Raghunath Nambiar has said  that the people were being "misinformed" on the offset issue of  the Rafale deal and that the current pact was "much better" than what was negotiated earlier.

Nambiar, who test flew the Rafale jet in France last week, said the commercial negotiations were headed by the then Deputy Chief of Air staff and he was responsible for completing the negotiations that continued for 14 months.

Asked about reports that there was a push by the Indian government to include Anil Ambani's Reliance Defence in the deal, Nambiar said: "The commercial negotiations were headed by the Deputy Chief of Air Staff and he was responsible for completing the negotiations."

The official said the negotiations continued for "almost 14 months". "We believe we met all the directions of our leadership -- that was to get a better price, better maintenance terms, better delivery schedule and better performance logistic package."

Nambiar said it was "all in all a much better than what was obtained" earlier.

When asked about the charges by the opposition over offset contract under the deal to buy 36 fighter jets, he said, "I believe people are misinformed. It is nothing like Rs 30,000 crore to one party. Dassault alone has to only do offset to the tune of Rs 6,500 crore. Nothing more than that."

Nambiar said he had an opportunity to fly the Rafale and look at the capabilities that is on offer for the Air Force. He said the aircraft is "shaping up quite well" and the Air Force is satisfied with the performance of all the systems on the aircraft.

Rafale Deal: A Questionable Statement Which Circumstances & Facts Demolish — Arun Jaitley

Rafale Deal: A Questionable Statement Which Circumstances & Facts Demolish — Arun Jaitley

Date: 23-Sep-2018

The Congress Party’s official handle on August 31, 2018 had carried the tweet of one of its leader “It is evident that Anil Ambani bribed President Hollande through his actor-partner to get the Dassault partnership.” For the Congress Party to allege that a former President had been bribed by an Indian business group and then use him as a primary witness, particularly when he is facing criticism for an alleged conflict of interest within his own country.

A controversy is sought to be created on the basis of a statement made by the former French President Hollande, that the Reliance Defence ‘partnership’ with Dassault Aviation was entered at the suggestion of the Indian Government. In a subsequent statement the former President has sought to suggest that Reliance Defence emerged on the scene after the agreement with the Indian Government was entered into. He has, in a subsequent statement, said that he is ‘not aware’ if Government ever lobbied for Reliance Defence and that ‘the partners chose themselves’. Truth cannot have two versions.

The French Government and M/s Dassault Aviation have categorically denied the correctness of the former President’s first statement. The French Government has stated that the decision with regard to the offset contracts of Dassault Aviation are taken by the company and not the Government. Dassault Aviation itself has suggested that they have entered into multiple contracts with several public sector and private sector companies with regard to the offset contracts and the decision is entirely theirs.

Without commenting on the correctness or otherwise of a controversy in the French media, it may be mentioned that the former French President, Hollande, is countering statement made against him with regard to a conflict of interest in his dealing with the Reliance Defence.

The accuracy of the statements made by the individuals may be questioned but circumstances never lie. This is evident from the following facts:

• There is no ‘partnership’,as suggested by the former President, with regard to the 36 Rafale aircrafts to be supplied by Dassault Aviation to the Government of India. It was a Government to Government agreement under which the complete weaponised aircrafts are to come to the Indian Air Force. No manufacturing is to be done in India. It is, therefore, erroneous for anybody to suggest that there is a ‘partnership’ in the supply of the 36 Rafale aircrafts.

• M/s. Reliance Industries Ltd., in February, 2012, had entered into an MoU with Dassault Aviation. This was reported by the PTI on 12.2.2012. This was at a stage when the contract relating to 126 Rafale aircrafts, of which 18 were to be manufactured in France and 108 in India, was at an advance stage of consideration by the UPA Government. Rahul Gandhi’s misplaced criticism could equally apply to the 2012 MoU.

• The offset contract ensures investment by the original equipment supplier i.e. Dassault Aviation, in India, in as much as they make purchases from Indian companies to the extent of fifty percent (in this case). The choice of the offset partner under the 2005 offset policy is of M/s Dassault Aviation and they have selected several public and private sector companies to make the supplies.

• The offset partner is selected entirely by the Dassault Aviation, the original equipment manufacturer, and neither the French Government and nor the Indian Government has any say in the matter.

• It is no coincidence that on 30.8.2018 Shri Rahul Gandhi had tweeted that “Globalised corruption. This #Rafale aircraft really does fly far and fast! It's also going to drop some big bunker buster bombs in the next couple of weeks.”

The former French President’s first statement rhymes with Rahul Gandhi’s prediction.

• The Congress Party’s official handle on 31.8.2018 had carried the tweet of one of its leader “It is evident that Anil Ambani bribed President Hollande through his actor-partner to get the Dassault partnership.” For the Congress Party to allege that a former President had been bribed by an Indian business group and then use him as a primary witness, particularly when he is facing criticism for an alleged conflict of interest within his own country.

• The former French President’s first statement that the Indian business group’s name was proposed by Government of India has now been substituted by him to the effect that the suggestion he is ‘not aware’ of the Government of India ever lobbied for Reliance Defence. He further said that the ‘partners’ chose themselves (AFP Report dated 22.9.2018).

• Rahul Gandhi has made an absurd suggestion that the interest of Indian soldiers has been compromised with. By whom? The UPA which delayed the acquisition which would have added to the Military’s combat ability or the NDA which expedited the same at a lower cost.

The Conclusion

One Reliance Group was a part of this deal since 2012. It dropped out of defence production. The other Reliance Group was already in defence. They are not partners in the Rafale deal. They have no contract with either Government of India or Government of France. They were not selected as one of the many offset partners by any Government. ‘The partners (Dassault and Reliance) selected themselves’ as former President Hollande now says. This contradicts his first questionable statement which the French Government and Dassault have denied. The facts contradict the same. His second statement in Montreal, Canada to AFP makes the veracity of his first statement even more questionable.

Symbolism of Lord Ganesha

Symbolism of Lord Ganesha

Reigning in EMOTIONS

The instrument on his back left hand is the tool to reign in or control your emotions, just as a huge elephant can be controlled by a small string. When your emotions are not under your control, however intelligent or skilled you may be, you can be swayed to what charges you emotionally at any point of time. You can easily become an emotional wreck. One has to approach any task in a dispassionate manner. For achieving success consistently, it is essential to acquire the natural capacity for being emotionally balanced. 

CUTTING ATTACHMENTS

The axe on the back right hand is to cut all attachments. This may sound cruel but the moment one is attached to something, it is impossible to see beyond this attachment. Life has to be approached as a witness. Any incident or association has its value. This value can be enjoyed or shared but when attachment creeps in, we become slaves to it. Parents can value their children but when too much attachment happens, even the possibility of misguding them arises. The same is true for any relationship or association.

BROKEN TUSK-COMMITMENT & DEDICATION

The broken tusk on his right hand symbolizes unwavering commitment and dedication to the task at hand. The popular story of Vedha Vyasa narrating the Mahabaratha to Lord Ganesha conveys this. 

Vyasa decided to write the Mahabaratha, so that it is available for future generations in an easier form. He requested for help from Lord Ganesha to transcribe it because he felt that others may not be up to the task and he needed to narrate continuously. 

Lord Ganesha told him that he will transcribe it under one condition - Vyasa should narrate without hesitation or breaks. Vyasa told him that he will not hesitate or break because the Mahabaratha is very much alive within him. 

Vyasa also reminded Lord Ganesha that the deal between them is - he will narrate without hesitating but Ganesha must write without a break. 

Deep into the narration, the pen that Lord Ganesha was using, broke. Without any hesitation, Lord Ganesha broke his own tusk and used it continue writing. This is the unwavering commitment necessary to complete any task one takes up in life.

ATTENTIVENESS

The big ears symbolize attentiveness. Without being attentive, nothing can be achieved.

STRENGTH AND FLEXIBILITY

The trunk like an elephant's trunk symbolizes great strength, sensitivity as well as flexibility. Aparently elephants can detect water sources from up to 12 miles away.

BREATHING FROM THE BELLY

The big belly is symbolic of breathing from the navel centre that connects to your very source instead of the shallow breathing from the chest. When you breathe from the chest, you only function from the level of survial. When you enhance your breathing down to your belly, you can connect to your very source. Life starts from the navel.

Lord Ganesha is regarded as the remover of obstacles. In the Vedic faith, nothing is unscientific. The representations of the Gods are very symbolic. The conveying is also immediate through the symbolism.

We can see from the above information that before your start a task, if you possess the above virtues, you will automatically be successful.

• When you Reign in your Emotions, 
• Function without  unnecessary Attachments,
• Perform with Commitment & unwavering Dedication, 
• Be Attentive to all the factors related to the task, 
• Have both Strength and Flexibility wherever required, without being unnecessarily rigid about something, and 
• Develop a connection/gratitude to the very source that was responsible for your creation in the first place, 
• Not only SUCCESS but automatic Spiritual progress will be yours and this is symbolized by the Sweets Lord Ganesha holds in his left hand.

There are some stupid preachers of late who proclaim loudly - what sort of God is Shiva? He chops the head of children. In order to explain this the following has to be conveyed-

The Vedic faith has been around for several eons and things were very different in a different time frame. Our ancestors were expects in harnessing the energy of creation itself within them. They knew the ways to control, use and manifest various forms of energy for various purposes. 

When Godess Parvathi, consort of Lord Shiva was on her own at a certain time, she created a small boy for her company, by manifesting him from the elements that are the fundamental composition of all physical life. The boy thus born in a higher state of conception, who would go on to be known as Lord Ganesha, naturally possessed superior qualities right from the birth and was well known for his skilful and unbeatable ways. 

On a certain day, when Godess Parvathi went to bathe, the boy was assigned to guard the place. It turned out that Lord Shiva arrived on this day with his disciples who are known as Ganas because they were not of human form and possessed total flexibility of physical form. 

Lord Shiva and his associates were not allowed into the place where Goddess Parvathy resided by the young boy. It seemed impossible to pass this determined boy. Then, Lord Shiva knowing the situation, approached him as his father although the boy would not recognize him. 

Shiva could see that this boy who possessed enormous skills, courage and determination lacked the perception and flexibility that the situation demanded and as an instant way to teach him these, chopped his head off. 

Goddess Parvathy who now appeared, was distraught and urged Lord Shiva to rectify the situation immediately. In order to do so, Lord Shiva placed the head of one of his Ganas, who need not be confined in any particular form, on the boy; to replace the severed head. Thus happened Gana-pathy. 

So technically, Lord Ganesha does not have the head of an elephant but of one of Shiva's Ganas who had the appearance of an elephant's head. He now possessed all the qualities he already had and now also acquired the wisdom of spontaneous awareness , adaptability and flexibility that removed his blind rigidity. In time, he became known as the Elephant head God.

It is symbolic of having transcended to superior intelligence of the unconditioned mind through the grace of Shiva. It represents the transition of the ego filled small head into one with exceptional awareness necessary to transcend the state of limited possibility.

We are of course talking of a different time when people lived in a High Energy space, when the technology of accessing higher energy planes was well known in this region.

India now holds the second largest regional share of Asia and Pacific region's GDP based on purchasing power parity (PPP)

India now holds the second largest regional share of Asia and Pacific region's GDP based on purchasing power parity (PPP), with the country's share going up from 14.6% in 2000 to 17.3% in 2017, according to an Asian Development Bank (ADB) report on 'Key Indicators for Asia and the Pacific 2018'.

India displaced Japan, which moved to third place after its share fell to 10.2% in 2017 from 23.1% in 2000. China is at the top with 42.7% share compared to 25.1% in 2000. PPP compares how many goods and services a unit of money can purchase in different countries. While GDP shows the total productive output of a country, PPP compares the value of money in different countries.

China, India and Japan – the three largest economies in Asia and Pacific – account for over 70% of the region's GDP at PPP, up from around 63% in 2000 and more than two fifths of the global GDP in PPP terms, says the report.

Asia and Pacific's share of global output increased from 30.1% in 2000 to 42.6% in 2017, while the share of North America, Europe, South America and the rest of the world declined by 6.8%, 4.7%, 1.3% and 0.3%, respectively.

According to the report, the population of the Asia Pacific region in 2017 was 4.14 billion or 54.8% of the world's population, down from 56% in 2000 and five – including two of the most populous, China (1.39 billion) and India (1.31 billion) – of the 10 most populous economies in the world were from the region.

However, the population in the region is ageing as life expectancy increases and fertility rates decline. It is estimated that in 2050, the number of people over the age of 65 will exceed the number under age of 15.

The report provides a comprehensive set of statistics relating to financial, economic, social and environmental indicators for the 48 regional members of ADB.

Bad loan menace-UPA-era product

Narendra Modi speech on bank NPAs has hit the right target; bad loan menace is UPA-era product

This article gives a clear idea of how the economy was messed up by previous governments and how finally the Modi government is doing the best to undo the damage done so far

Source-https://www.firstpost.com/business/narendra-modi-speech-on-bank-npas-has-hit-the-right-target-bad-loan-menace-is-a-upa-era-product-5097671. html

"From Independence to 2008, Indian banks gave out Rs 18 lakh crore as loans. In the next six years, the amount touched Rs 52 lakh crore," said Prime Minister Narendra Modi on 1 September 2018 while inaugurating the India Post Payments Bank (IPPB). This is not the first time that Modi has highlighted this indiscriminate and mindless surge in public sector bank (PSB) lending, bulk of which were for industrial and infrastructure projects.

This writer, too, has been of the view that PSB’s never were ideally placed to bankroll infrastructure and other long-term lending. What makes Modi’s remarks ominous for the nation is his assertion that during the 6-year period, loans were sanctioned through what he humorously calls phone banking---behest lending at its worst.

Prime Minister Narendra Modi at the launch of India Post Payment Bank. PTI image

Loans of this magnitude--Rs 34Lakh crores should have transformed the nation by now even after granting a lag between investment and its impact on the economy. But what this reckless lending has done is to lay waste the banking sector with gross non performing assets (NPAs) standing at Rs.8,40,958crores in December 2017, led by industry loans followed by services and agriculture sectors.

The gross NPAs or bad loans of scheduled commercial banks as on 31 December 2017 due to loans to industry were at Rs 6,09,222 crore, accounting for 20.41 percent of the gross advances.

This is unacceptably high pointing to a festering problem plaguing the PSBs in the country. With PSBs under the thrall of the government of the day, there is always temptation to make them dance to its tunes as evident from the alleged missives from the prime minister’s office during UPA II recommending further loans to Kingfisher Airlines despite its repeated and massive defaults.

It redounds to the credit of the Modi government that there hasn’t been a single behest lending nor any fresh NPA created during its tenure thus far. That private sector banks in India have bucked this trend is significant as it testifies to the fact that power brokers and influence peddlers took liberties with the faceless PSBs thus raising questions about the very wisdom of bank nationalisation started in 1969 by the then prime minister Indira Gandhi.

Even without behest lending souring their fortunes, commercial banks would in any case have courted trouble by lending long-term mainly to infrastructure projects notorious for their long gestation periods. Steel and power companies which figure prominently in the list of companies being sold by the National Company Law Tribunal (NCLT) as well as highway projects are not commercial banks’ cup of tea given the inevitability of asset-liability mismatch bedeviling their finances sooner than later.

With dice thus heavily loaded against them, PSBs were destined to be in a mess. In the event, the shrill noise made by the Congress President Rahul Gandhi from time to time both in India and abroad about the Modi government selling out its soul to big industrialists for a quid pro quo sounds laughable and ludicrous.

It was the Congress that mollycoddled NPAs and its offshoot ever-greening of loans with schemes such as corporate debt restructuring, strategic debt restructuring, 5/25 and S4A schemes that enabled the banks to kick the can further, i.e. hide NPAs and bury their heads in the sand ostrich-like.

Once again it redounds to the credit of the Modi government and the RBI that all these excuses were rendered untenable with one stroke of the pen with the Reserve Bank of India (RBI) withdrawing all of them lock, stock and barrel in February 2018 and insisting on immediate recognition of NPA when its raises its ugly head.

Had the Modi government continued with its mollycoddling of the NPAs, it would have been business as usual with no concern for banks’ and taxpayers’ money remaining blocked forever in NPAs.

The Modi government indeed took the NPA bull by its horns. In fact its fight against tax evasion and crony capitalism, behest lending is acknowledged albeit grudgingly even by its detractors.

The vested interests hurt by this no-nonsense attitude of Modi are trying to hit back. It is sad that the Congress is throwing its weight behind them.

The Modi government has not only made banking inclusive with its Jan Dhan initiative but also made bank finances available for the grassroots people and those at the bottom of the heap with its Mudra Yojana initiative that has benefitted some 12 crore people with micro finance loans.

(The author is a senior journalist and tweets @SMurlidharan)

Updated Date: Sep 02, 2018 11:34 AM