extravaganza: economist isaac a proponent of fiscal · 1000 satyam shivam sundaram 1100 news now...

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The Times Of India - Kochi, 2018-01-04 Cropped page Page: 6 Copyright 2016 Olive Software 2018-01-03 22:11:05 TIMES STATE Thiruvananthapuram: The pre-budget consultations ini- tiated by finance minister T M Thomas Isaac has spurred a debate on the necessity to control fiscal extravaganza fuelled by political considera- tions to save the state’s exche- quer. Economist B A Prakash who spoke about fiscal extra- vaganza as the worst vice that plagued our economy was cri- ticised sharply by minister Isaac. The argument between Isaac, an economist-turned- politician and Prakash, the former chairman of the Kera- la public expenditure review committee and fifth finance commission, during Monda- y’s consultations spilled out of the discussion room on Tu- esday when Isaac posted on Facebook his disagreement with Prakash’s arguments. Prakash, on Wednesday, re- torted with a detailed reply. For long, Prakash has be- en cautioning about the fiscal extravaganza in the state. Cost cutting should begin at the top and trickle down to bottom, he has argued. The huge cost incurred by the go- vernment in the form of jum- bo personal staff of mini- sters, luxury vehicles and li- mitless re-imbursement of bills by ministers and MLAs were part of the work ‘Dhana dhoorthu rashtreeyavum ro- oksha dhana prathisandhiy- um’ (Fiscal extravagant poli- tics and deep fiscal crisis) penned by Prakash last year. According to Prakash, he pointed out key arguments against fiscal extravaganza and urged the minister to an- nounce drastic cost-cutting measures in the next budget. “Take our public service com- mission. There are 21 mem- bers making it the biggest in the country. Personal staff of ministers who had worked just two years would get life- long pensions. During the last assembly, an MLA claimed Rs 1.90 crore as medical reimbur- sement,” Prakash listed out examples to support his argu- ment. Isaac said Prakash always took a stand opposite to that of his on almost all issues. “He is against KIIFB. He says such initiatives should wait till the exchequer gets back to per- fect health. My argument is that such a long wait would be bad for the state. Similarly, he demanded to reduce non-plan expenditure. He suggested that pay revision should be once in 10 years and loss-ma- king PSUs should be privati- zed. None of these sugges- tions are appealing to me,” Isaac posted. Prakash retorted saying that Isaac was a proponent of fiscal extravaganza. “Such policies will drive our state in- to a debt trap and anarchy. Go- vernment says Rs 30,000 crore worth projects under KIIFB have been sanctioned. It is not possible to levy user fee from KIIFB projects. That means government will have to pay principal and interest of this loan from tax collection. This will be disastrous,” Prakash replied on his FB page. Pre-Budget Debate Turns ‘Ugly’ Isaac a proponent of fiscal extravaganza: Economist TIMES NEWS NETWORK Disagreements between finance minister Thomas Isaac and economist B A Prakash (in picture) during pre-budget con- sultations lead to open FB spat Taxi fares go up as Saudi Emile bid

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Page 1: extravaganza: Economist Isaac a proponent of fiscal · 1000 Satyam Shivam Sundaram 1100 News Now 1130 Home Minister 1230 Aarogya Vartakal 1300 Ucha Varta 1330 Satyam Shivam Sundaram

The Times Of India - Kochi, 2018-01-04 Cropped page Page: 6

Copyright 2016 Olive Software 2018-01-03 22:11:05

THE TIMES OF INDIA, KOCHITHURSDAY, JANUARY 4, 20186 TIMES STATE

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Thiruvananthapuram:Thepre-budget consultations ini-tiated by finance minister TM Thomas Isaac has spurreda debate on the necessity tocontrol fiscal extravaganzafuelled by political considera-tions to save the state’s exche-quer. Economist B A Prakashwho spoke about fiscal extra-vaganza as the worst vice thatplagued our economy was cri-ticised sharply by ministerIsaac.

The argument betweenIsaac, an economist-turned-politician and Prakash, theformer chairman of the Kera-la public expenditure reviewcommittee and fifth financecommission, during Monda-

y’s consultations spilled outof the discussion room on Tu-esday when Isaac posted onFacebook his disagreementwith Prakash’s arguments.Prakash, on Wednesday, re-torted with a detailed reply.

For long, Prakash has be-en cautioning about the fiscalextravaganza in the state.Cost cutting should begin atthe top and trickle down tobottom, he has argued. Thehuge cost incurred by the go-vernment in the form of jum-bo personal staff of mini-sters, luxury vehicles and li-mitless re-imbursement ofbills by ministers and MLAswere part of the work ‘Dhanadhoorthu rashtreeyavum ro-oksha dhana prathisandhiy-

um’ (Fiscal extravagant poli-tics and deep fiscal crisis)penned by Prakash last year.

According to Prakash, hepointed out key argumentsagainst fiscal extravaganzaand urged the minister to an-nounce drastic cost-cuttingmeasures in the next budget.“Take our public service com-mission. There are 21 mem-bers making it the biggest inthe country. Personal staff ofministers who had workedjust two years would get life-long pensions. During the lastassembly, an MLA claimed Rs1.90 crore as medical reimbur-sement,” Prakash listed outexamples to support his argu-ment.

Isaac said Prakash always

took a stand opposite to that ofhis on almost all issues. “He isagainst KIIFB. He says suchinitiatives should wait till theexchequer gets back to per-fect health. My argument isthat such a long wait would bebad for the state. Similarly, hedemanded to reduce non-planexpenditure. He suggestedthat pay revision should beonce in 10 years and loss-ma-king PSUs should be privati-zed. None of these sugges-tions are appealing to me,”Isaac posted.

Prakash retorted sayingthat Isaac was a proponent offiscal extravaganza. “Suchpolicies will drive our state in-to a debt trap and anarchy. Go-vernment says Rs 30,000 croreworth projects under KIIFBhave been sanctioned. It is notpossible to levy user fee fromKIIFB projects. That meansgovernment will have to payprincipal and interest of thisloan from tax collection. Thiswill be disastrous,” Prakashreplied on his FB page.

Pre-BudgetDebate Turns

‘Ugly’

Isaac a proponent of fiscalextravaganza: Economist

TIMES NEWS NETWORK

Disagreements between financeminister Thomas Isaac and economist B A Prakash (in picture) during pre-budget con-sultations lead to open FB spat

Kannur:With the CPM leaders-hip starting reporting the criti-cism of the party leadership aga-inst what is called the ‘self glori-fication’ of district secretary PJayarajan, at the lower strata ofthe party ahead of the districtconference later this month, it isseen as a calculated move to cont-rol him and clip his wings. Ac-cording to the leadership, Jaya-rajan glorified himself as a ‘su-per leader’, and this is againstthe norms and codes of the party.

Though the party state com-mittee had criticized him in No-vember for self-glorification mo-ves, the leadership here had hin-ted that there was no possibilityof reporting it to the local andbranch committees. However,that is what is happening now,and how it will reflect in the dis-trict conference is being curio-usly awaited.

Ever since the criticism sur-faced, the ‘visibility’ of Jayara-jan has also come down and eventhe number of news conferenceshe chaired has been reduced.Though he personally welco-med the criticism and urged thecadres to strengthen the partyinstead of focusing on any one le-ader, it has brought about a divi-sion within the party.

According to a five-page cir-cular, the senior leader of theparty did not feel anythingstrange in the campaigns thatpraised him. Even his Facebookpost apparently supported thisand his reaction to the song al-bum comparing him to P Krish-na Pillai is an example to this.However, Jayarajan has appro-ved his mistakes and is ready torectify it, said the circular.

Despite criticism, there is asegment that supports Jayara-jan as their leader and praisehim as the ‘red star’ of Kannur.“There is a large group of youngcadres who see a hero in Jayara-jan, and they see him as the loneforce that fight the Sangh Pari-var in the district, whereas themiddle-aged cadres and sympat-hizers see him as a stumblingblock in the peace process in thedistrict,” said a local leader, whodid not want to be named.

There are other district se-cretaries who have glorifiedthemselves using the party ma-chinery, but there was no action,which might be questioned inthe district conference. TNN

CPM dist meetcrucial forP Jayarajan

SELF GLORIFICATION

Idukki: The church-appoint-ed inquiry commission, prob-ing the ongoing land deals ofErnakulam-Angamaly arch-diocese, will submit its final re-port to the Presbyterium coun-cil on Friday. The report and apetition signed by the priestsunder the archdiocese will bethen sent to the Pope.

Last month the church au-thorities had appointed a six-member commission to probethe controversial deals. Thepanel, led by Fr Benny JohnMaramparampil, comprisedthree priests, a lawyer, a tehsil-dar and a charted accountant.

On December 21, the com-mission had submitted its in-terim report, pointing out seri-ous negligence on the part ofthe cardinal and two priests.The Presbyterium then decid-ed to send a petition to the Pope.

“Earlier, the church au-thorities had directed the com-mission to submit its final re-port before January 31. But thecommission has already com-

pleted its probe and decided tosubmit the report to the Pres-byterium council on Friday,” asenior priest said.

Meanwhile, the bishopsand priests in the Presbyteriancouncil will hold a meeting onFriday at head office of thearchdiocese to discuss thescam. Cardinal Alanchery,auxiliary bishops SebastianEdanthrath, Jose Puthenveetiland over 60 nominated priestsunder the archdiocese will at-tend the meeting which willdiscuss the final report and ap-prove the petition to be sent toPope Francis.

Earlier, priests in the Pres-

byterium council had decidedto send a petition against thecardinal to the Pope. “Over 300priests had decided to send thepetition. We are against anysettlement in the issue. The cri-sis is not just economical but al-so a more serious ethical one,”said a senior priest.

The archdiocese had ap-pointed a committee led by thecardinal and two priests to sellfive plots of land owned by thechurch in and around Ernaku-lam town to pay off the arch-diocese’s debt. But the salecaused a huge loss to the arch-diocese, besides creating a tiffinside the church.

Church row: Final reportto be submitted tomorrow

TIMES NEWS NETWORK

Riyadh: With the increasein the price of petrol, taxifares have gone up in SaudiArabia. The hiked prices in-clude VAT, which was also in-troduced across the king-dom on Monday.

Mohammed Ashhari, adriver with Limousine ser-vices that operates in majorcities in the kingdom, said henow collects SR 40- SR 60from a passenger for a tripthat cost SR 30 four days ago.Abu Abdulla, another Lim-ousine driver in Jeddah, saidit is natural to charge morefrom passengers with thehike in fuel rates.

A Malayali driver with

over 20 years of experience,Razack, said he gets fewerpassengers these days. Mostof them prefer public trans-port as taxi fares are high,said Razack. He also finds itdifficult to earn the dailyminimum amount requiredto deposit at the taxi compa-ny.

Saeed Al Basaami, spo-

kesperson of the transportwing of Saudi council ofchambers, justified the in-crease in fares. He said as animpact of financial reformshike in fares is anticipated.However, he reminded pas-sengers to not allow driversto charge more than the taxi-meter.

Meanwhile, Saudi au-thorities have denied claimsof hike in price of cookinggas. Only 5% VAT has beenadded to the existing rate (SR20 per cylinder). They alsoclarified that medicines andmedical equipment havebeen exempted from VAT.

As the officials with thecommerce ministry havelaunched inspections tocheck on VAT violations, Ma-layali firms at Sharafiya inJeddah have displayed VATregistration boards.

Taxi fares go up as Saudihikes price of petrol

TIMES NEWS NETWORK

GULFWATCH VAT registration board displayed

at a shop in Sharafiya, Jeddah

TOI

Kochi: E Cottage at SRMRoad, the home of Kochi’smusical family, was silent asguitarist Emile Isaacs, the el-dest among his generationpassed away on Wednesdayat the age of 70.

Though his musical jour-ney began with violin, a fa-vourite of his father andgrandfather, Emile enteredthe world of music with elec-tric and bass guitar, addingcolours to the voices of theKerala favourites, K J Yesu-das and Usha Uthup. He wasthe elder brother of EloyIsaacs, the guitarist of Kera-la-based band 13 AD.

Renowned for his techni-cality in the music industry,he won the hearts not just inKerala but across the world.“He had fans all over but ma-jority of his fans were in Kol-kata, where he spent majorpart of his professional life,”said Usha Uthup, with whomEmile worked for over 30

years. He was also in-chargeof her studio as the sound en-gineer, recording works ofmusicians like Hemanth Ku-mar and Pandit Ravi Shan-kar.

Ten years ago, he suffereda stroke, which paralyzed hisleft side. This put a suddenend to his music career. Afterthe stroke, he left Kolkataand moved back to his homein Kochi. The walls of hishouse are decorated withpictures of Emile during hisactive days when he toured

all seven continents per-forming with Uthup. Duringthese days, he was not just ex-posed to personalities fromthe field of music but alsofrom various walks of life,including Nelson Mandelaand Kapil Dev.

In the sixties, he was thelead guitarist of the musictroupe formed by K J Yesu-das. Swayed by the heavysounds of bass guitar, it re-mained his instrument ofchoice for the rest of his ca-reer.

He later formed a band,Elite Aces and Uthup madeher debut in Kerala with hisband. “He was a close familyfriend and a great musician.He was a pioneer of sorts inhis own genre of music andthe way he played the bassguitar,” she said. “He was ve-ry actively involved in mu-sic. Even the day before hisstroke he performed in a con-cert. Thereafter, he could notplay the guitar anymore ashis left side had given out. Hecould not even travel and thiswas frustrating for him,”said Neil Isaacs, Emile’s sonwho is working in Dubai. Hishealth had been deteriorat-ing for the past three months,as he was suffering frombreathlessness.

His Fender bass guitarthat has been untouched forthe past 10 years is kept safelyat his house in Edapally. Hisfuneral will be held onThursday at Mount CarmelChurch, Chathiyath at2.30pm.

Emile bids adieu as his guitar weeps

Emile Isaacs with Yesudas

[email protected]

Kochi:A complaint was filed with the Ernakulam range IG P Vijayanrequesting to investigate into the controversial land deals of theErnakulam-Angamaly archdiocese. The complaint by PaulachanPuthuppara of Thuravoor is against cardinal mar George Alencherry,Fr Joshy Puthuva and Fr Sebastian Vadakkumpadan. The complainantdemands the police to investigate into the case citing violations,including dishonest misappropriation of property and criminalbreach of trust. “Police should investigate all aspects of the caseincluding possible tax evasions and involvement of black money,” thecomplaint requests. TNN

Complaint filed with IG

CCI NG 3.7 Product: TOICochinBS PubDate: 04-01-2018 Zone: Kochi Edition: 1 Page: TOIKRK06 User: arya.harikumar Time: 01-03-2018 23:35 Color: CMYK