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Tag: shielded

  • Rahul tore ordinance that shielded MLAs, MPs from instant disqualification: Annamalai

    Rahul tore ordinance that shielded MLAs, MPs from instant disqualification: Annamalai

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    Chennai: Congress leader Rahul Gandhi had on September 28, 2013 torn an ordinance that shielded the MLAs and MPs from instant disqualification, Tamil Nadu BJP president K. Annamalai said on Saturday.

    Taking to Twitter, he said that Rahul Gandhi had on September 28, 2013 torn an ordinance that gave three months time for MLAs and MPs from disqualification.

    He was responding to Tamil Nadu Chief Minister M.K. Stalin’s statement on Friday that disqualification of Rahul Gandhi as an MP before he could go for an appeal was the death knell of democracy in India.

    Stalin also said that the metamorphosis of BJP’s vindictive politics into autocracy was taking place at an alarming pace. He also said, “If one goes by history, it is obvious what is in store for such autocrats.”

    Annamala stepped up the attack on Stalin and Rahul said, “Rahul Gandhi has been disqualified after a court verdict for his insult to the country’s OBC and Teli society and for not apologising.”

    He said that Rahul Gandhi was a habitual and had in the past apologised for peddling lies in public and added that the verdict had rattled habitual liars, the DMK.

    It may be noted that according to the Representation of People Act, 1951, sitting MPs and MLAs have a protection from disqualification if they are convicted of certain offences and they are given a period of three months for a sitting MLA or MP from being disqualified.

    The Act also states that if the sitting MLA or MP files an appeal for revision within three months of the date of conviction, the public servant cannot be disqualified until the appeal or revision was not disposed of.

    The Supreme Court had struck down this in 2013 in the judgment of Lily Thomas vs Union of India and struck down Section 8(4) of the Representation of People Act.

    The United Progressive Alliance (UPA) government of Prime Minister Dr Manmohan Singh had tried to nullify the judgment through the Representation of the People (Second Amendment and Validation) Bill, 2013. Rahul Gandhi had on September 28, 2003 in a press conference torn the copy of the ordinance calling it utter “nonsense”.

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    ( With inputs from www.siasat.com )

  • ECLGS shielded MSMEs from financial distress: Eco Survey

    ECLGS shielded MSMEs from financial distress: Eco Survey

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    New Delhi: The Emergency Credit Linked Guarantee Scheme shielded India’s micro, small and medium enterprises from financial distress, with their quick recovery supported by “remarkably high” credit growth, reflected in the rise of goods and services tax paid by the units, as per the Economic Survey 2022-23 tabled in Parliament on Tuesday.

    India has more than six crore micro, small and medium enterprises that employ close to 12 crore workers across sectors and industries while contributing nearly 35 percent to the country’s gross domestic product (GDP).

    In FY21, the government announced the Emergency Credit Linked Guarantee Scheme, which succeeded in shielding micro, small and medium enterprises from financial distress.

    According to the survey, “The credit growth to the micro, small and medium enterprises sector has been remarkably high, over 30.6 percent on average during January-November 2022, supported by the extended Emergency Credit Linked Guarantee Scheme (ECLGS) of the Union government”.

    “The recovery of MSMEs is proceeding apace, as is evident in the amounts of Goods and Services Tax (GST) they pay, while the Emergency Credit Linked Guarantee Scheme is casing their debt servicing concerns,” it added.

    Quoting a recent CIBIL report (ECLGS Insights, August 2022), the survey said it showed that the scheme has supported MSMEs in facing the COVID shock, with 83 percent of the borrowers that availed the ECLGS being micro-enterprises. Among these micro units, more than half had an overall exposure of less than Rs 10 lakh.

    Furthermore, CIBIL data also showed that ECLGS borrowers had lower non-performing asset rates than enterprises that were eligible for ECLGS but did not avail of it, the survey pointed out.

    The GST paid by MSMEs after declining in FY21 has been rising since and now has crossed the pre-pandemic level of FY20, reflecting the financial resilience of small businesses and the effectiveness of the pre-emptive government intervention targeted towards MSMEs, it noted.

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    #ECLGS #shielded #MSMEs #financial #distress #Eco #Survey

    ( With inputs from www.siasat.com )