Friday, June 24, 2022

Unbeatable combination.

"Approval ratings of Prime Minister Narendra Modi's government have risen to their highest since the start of the pandemic" and "his government has met or exceeded expectations in the second term, according to 67% of 64,000 people polled by LocalCircles," TOI. But, "A 2018 bank survey found that 23,000 Indian millionaires had left the country since 2014. More recently, a Global Wealth Migration Review report revealed that nearly 5,000 millionaires, or 2% of the total number of high net-worth individuals in India, left the country in 2020 alone," ET. Around 8,000 are predicted to leave this year. Modi became prime minister for the first time by winning general elections in 2014, wikipedia. Not just rich Indians, "A total of 2,783 foreign companies with registered offices or subsidiaries in India closed their operations in the country between 2014 and November 2021, Commerce and Industry Minister Piyush Goyal told Parliament," DH. "VPN services such as ExpressVPN, NordVPN and SurfShark have announced shutting down India servers," TIE. This was because they disagreed with a government diktat compelling them to store personal details of customers for five years. The government says that it is to fight cybercrime. Is it? This government is going all out to make India a cashless country by pushing digital transactions and linking cards with Aadhaar, digitalindia.gov.in. Despite the fact that, "There were 61,000 complaints of financial frauds involving digital payments received by the government in the last month,'" of which, "At 33,712, more than half these complaints related to the United Payments Interface (UPI)," HT. Following expulsion of Russian banks from the SWIFT system of international money transfer, some in India believe that our Central Bank Digital Currency (CBDC) based on the UPI system could replace SWIFT, News18. "UPI has the ability to scale up rapidly and has been able to keep the hackers away so far." 33,712 people say otherwise. The Congress Party started a direct cash transfer system "inspired by the former Brazilian President Lula da Silva's popular Bolsa Familia program. Modi took the modest $1 billion start and turned it into a $300 billion vote magnet: And he did it with the help of 12-digit numbers," wrote Andy Mukherjee. This is Aadhaar. "It's a biometrics-based system through which everyone in the second-most-populous nation can prove who they are." "Aadhaar is being very successfully used - by fraudsters." "The government's response has been to brush it all away. Anything that casts doubt on the integrity of the system is ignored." "The head of Sri Lanka's electricity authority has testified before a parliamentary panel that he was told by Sri Lankan President Gotabaya Rajapaksa that Prime Minister Narendra Modi had insisted a 500-megawatt wind power project is directly given to the Adani group," The Wire. MMC Ferdinando has since resigned after withdrawing his statement, BS. "The Adani family has announced its commitment to donate Rs 60,000 crore (Rs 600 billion) for a range of social works," ET. Total surveillance, handouts and some cronies, unbeatable. For he is a jolly good fellow, wikipedia.  

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