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GDP remarks: BJP MP Nishikant Dubey seeks protection

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Citing protection under the Constitution, a BJP’s Member of Parliament (Lok Sabha) on Tuesday gave privilege motion against more than 100 individuals including some journalists for troll on social media regarding his remarks on Gross Domestic Products (GDP).

BJP MP from Godda (Jharkhand) Nishikant Dubey moved the motion under Article 105 of the Constitution. This article provides freedom of speech in Parliament for MPs. On Monday, Dubey mentioned that GDP is not the ultimate truth. This invited widespread criticisms on social media with some twittereti started abusing him badly. Hurt by this, Dubey moved a petition which was accepted by the Lok Sabha Speaker. Procedures says, once motion is accepted and referred to the Privilege Committee, all the named are required to be appeared before the Committee and present their sides.

“We should move away from over-reliance on GDP when assessing a country’s health, towards a broader dashboard of indicators that would reflect concerns such as the distribution of well-being and sustainability in all of its dimensions…. aim is to provide impetus and guidance to the various initiatives currently ongoing on measuring people’s well-being and societies’ progress.”

Dubey had said while quoting verbatim from the report of a high level committee set up by OECD and headed by Nobel Prize winner Joseph E Stiglitz, leading well-being economist Jean-Paul Fitoussi, and the OECD Chief Statistician Martine Durand.

Dubey drew the attention of the house to recommendation 6 and 10 of this report.

It says estimate of these two factors are very critical — assessing equality of opportunity is important and the measurement of trust and other social norms should be improved.

He further mentioned that on both these aspects the present government has done better that any other government for the past 70 years. “Today the ease of doing business indicator under this Govt is a way ahead than ever. This is not our finding this is World Bank finding. What was happening in last seven decades, a few set of people used to get benefit and patronage to grow. The economic growth was at the cost of others. Today the situation has radically changed. It is equal opportunity of growth,” he mentioned.

Without taking name of any individual or party, he said that obviously this affects the old order and the dominant players. It is natural that they are uncomfortable.

“But what do you prefer: good business for few or equal opportunity for all? Now has our critics who are screaming GDP GDP factored this? Do they know how to factor this? GDP is not equipped to factor this,” he said.





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Orient Paper Reports A Weak Quarter

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Orient Paper expects realisation to improve. In conversation with its Managing Director Manohar Lal Pachisia.
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Lakers Legend Kobe Bryant Dead in Helicopter Crash | KTLA 5 News

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Update: Legendary Laker Kobe Bryant died after the helicopter he was in crashed on a hillside in the Calabasas area on Jan. 26, 2020.

KTLA 5 News in Los Angeles had live coverage of the breaking story as the news unfolded. More details: #Lakers #KobeBryant #Kobe

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SC expunges SAT’s adverse comments against Sebi in investor complaint case

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The Supreme Court has expunged adverse comments made by the Securities Appellate Tribunal (SAT) against market regulator Securities and Exchange Board of India (Sebi) in a recent order pertaining to handling of an investors complaint.


“We have no hesitation in stating that the Sebi as a regulator in the instant case has not performed its duties and has kept the complaint pending for more than six years which speaks volumes by itself. The tribunal fails to fathom as to why the complaint could not have been decided unless Sebi officials had a vested interest in not deciding the matter,” SAT had observed in an order dated November 14, 2019.



The market regulator had challenged the order before the SC on the ground that a computer-generated response by Sebi cannot be regarded as an order. Further, it argued that SAT had exceeded its jurisdiction in making the adverse remarks against Sebi.


After hearing the matter, the apex court agreed to expunge the adverse remarks made by SAT. The court also allowed a period of four months for disposal of the case.


“We are of the opinion that certain observations made in the impugned order were not called for, such as “the computer-generated disposal of a serious complaint speaks volume on the conduct of the respondents” as well as the part of the order relating to “vested interest in not deciding the matter” were not at all called for,” SC said.


“May be there was some remiss on the part of Sebi to act as a regulator, but casting aspersion was not warranted in the facts and circumstances of the case. As such, the adverse observations made in Paragraph No. 20 are hereby diluted,” it further said.





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