Note-ban impact: IIP at 4-month low of -0.4% in Dec Fadnavis: No danger to my government
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 They have not withdrawn support and our government is stable.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.