Prime Minister-appointed new economic council says not in favour of stimulus
NEWDELHI: An advisory group of economic experts constituted by Prime Minister Narendra Modi on Wednesday warned against breaching the fiscal deficit, potentially ruling out the possibility of a stimulus package to revive the sputtering economy. The comments by the Economic Advisory Council, led by Bibek Debroy, come amid India’s growth slumping to a three-year low of 5.7% in the April-June quarter, which experts attribute to demonetisation. ››
THIRUVANANTHAPURAM: The CPI(M)-led Left Front government in Kerala on Wednesday ordered a criminal and vigilance probe against former chief minister O om men Ch andy, three of his ministers, and other Congress leaders in connection with the multi-crore solar scam case.
Chief minister Pinarayi Vijayan said the action was based on the report submitted by the Justice Shivarajan Commission that probed the scam. The com- mission submitted its report to the CM last month.
Besides Chandy, Thiruvanchur Radhakrishnan, Anil Kumar and Aryadan Mohamed will also face the probe.
The scam was related to afictitious firm floated by a Saritha Na ir, a controversial woman who allegedly cheated many gullible investors. Nair and Biju Radha krishnan, the prime accused in the scam, were sentenced to three years in jail and were slapped with a fine of ₹10,000 each in December last year.
Na iris out on bail and Radha krishna ni sin jail on charges of murdering his first wife, Re sh mi.
A special investigation team was also constituted under director general of police Rajesh Diwan to probe charges against leaders whose names figured in the report. The scam surfaced in 2013 and it was one of the main reasons for the exit of the Congress regime in the state.
Nair floated a fictitious company promising imported solar panel sands takes in the company and cheated many.
She also used her nexus with the political leaders to widen her base.
During an investigation, Nair, who is facing many cheating cases, claimed she was sexually exploited by many leaders.
“Those who committed fraud will have to face the music,” said CPI(M) state secretary Kodiyeri Balakrishnan while welcoming the probe. Nair also hailed the decision. However, Chandy said the case was politically motivated. “I don’t fear the case. I haven’t done anything wrong. Let the law takes its own course,” he said.
Opposition leader Ramesh Chennithala also criticised the move, saying it was done deliberately to influence the by poll in Vengara in Malappuram.