Note-ban im­pact: IIP at 4-month low of -0.4% in Dec Fad­navis: No dan­ger to my gov­ern­ment

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Mint Cor­re­spon­dents feed­back@livemint.com Ke­taki Ghoge ke­taki.ghoge@hin­dus­tan­times.com KV Lak­sh­mana klak­sh­mana@htlive.com

In­dia’s in­dus­trial pro­duc­tion con­tracted by 0.4% in De­cem­ber af­ter high-value cur­rency notes were in­val­i­dated the pre­vi­ous month, data re­leased on Fri­day showed. There was a 5% con­trac­tion in pro­duc­tion of con­sumer non-durables and a 10.3% fall in pro­duc­tion of durables.

Mean­while, tax col­lec­tions grew at a healthy pace in Jan­uary, in­di­cat­ing that the gov­ern­ment is on track to achiev­ing its bud­geted col­lec­tion tar­get, at least on the in­di­rect tax front. The pace of growth of ex­cise and ser­vice tax col­lec­tions, how­ever, slowed in the month.

Even as the Shiv Sena builds pres­sure on the BJP-led gov­ern­ment with threats of res­ig­na­tions by its min­is­ters ahead of the crucial Mumbai civic polls, chief min­is­ter Deven­dra Fad­navis, in an in­ter­view to HT, said there is no dan­ger to his gov­ern­ment.

In an in­ter­view late on Thurs­day, the chief min­is­ter — just back to the city af­ter con­duct­ing five ral­lies across the state — said, “Cur­rently, the Sena is with us in the gov­ern­ment. They have not with­drawn sup­port and our gov­ern­ment is sta­ble. I will not com­ment on whether they will pull out. But I can say my gov­ern­ment is stay­ing for its full term of five years, for sure.’’ While Fad­navis did not spell it out, he in­di­cated his gov­ern­ment would sail with or with­out the Sena. The CM has also taken res­ig­na­tion threats by Sena min­is­ters on Fe­bru­ary 18, the last day of campaigning, lightly.

Tamil Nadu gov­er­nor C Vidyasagar might not in­vite VK Sasikala to form the gov­ern­ment till a Supreme Court ver­dict in a cor­rup­tion case against her, mul­ti­ple sources said, in a po­ten­tial set­back to the AIADMK leader tipped to be­come the chief min­is­ter.

Sasikala, locked in a bit­ter power strug­gle with act­ing chief min­is­ter O Pan­neer­sel­vam, is an ac­cused in a dis­pro­por­tion­ate as­sets case along with former chief min­is­ter J Jay­alalithaa. The top court is ex­pected to de­liver its judg­ment in the case soon, pos­si­bly as early as next week.

TV chan­nels said that the gov­er­nor has sent a re­port to the Cen­tre cit­ing rea­sons for his re­luc­tance to act im­me­di­ately but the Raj Bha­van de­nied any mis­sive to Delhi. Sasikala has claimed the sup­port of 134 MLAs, but Pan­neer­sel­vam has ac­cused of keep­ing the leg­is­la­tors hostage in a re­sort near Chennai.

On Wed­nes­day, Pan­neer­sel­vam dra­mat­i­cally an­nounced that he was forced to re­sign, a few days af­ter Sasikala was elected as the AIADMK’s leg­is­la­ture party leader, paving the way for her to be sworn in as the CM.

Deven­dra Fad­navis:

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