Back in 2012, I interviewed the late Parag Parikh when he was about to launch PPFAS Mutual Fund. Besides his contrarian investing style, the one thing that stood out about him was his refreshingly candid take on things. This was when mutual funds were witnessing outflows for years and assets under management stood at a little over Rs 5 lakh crore - largely debt-oriented. When I asked him how he planned to garner investments at a time when mutual funds weren't in favour, he said: "By being on the side of the investor". He then pointed to a note he had gotten stamped on the physical prospectus of the AMC's inaugural equity fund that said: "Please do not invest in this fund if you can't remain invested for at least five years". I can't draw a straight line from the note to PPFAS' outperformance over the past decade, and the swelling of its assets. But surely, sobering investors' expectations when the temptation is to oversell helps attract...
Congress's Rahul Gandhi does not know about the LPG situation and is just "trying to create panic," Union minister Pralhad Joshi said at NDTV's India Sustainability Mission 2.0 today. "India does not have LPG problem, India has LoP problem," said Joshi, in a jibe at Gandhi, who is the Leader of the Opposition in the Lok Sabha.
Questioning why Gandhi did not attend the all-party meeting held today, he said, "Earlier, they were saying call an all- party meeting. When the meeting is called, he doesn't attend it".
"If you look at our neighbours, they are having major issues. In India not even a single petrol pump is dry. There is no shortage of petrol diesel and PNG. There are some issues related to LPG that's why some steps are taken," said Joshi, who handles the New and Renewable Energy portfolio.
"I am not only comparing it (India) to the Bangladesh, Sri Lanka, Pakistan. In many other countries, there is a problem. But whereas in India today, our source was nearly about 27 (nations) for the crude oil. Now it has gone up to 40. But LPG, sources are less, but still, India, wherever it is available, we have kept the supply chain perfect," he said.
Moreover, the country, he said, has increased domestic production. "And wherever there is natural gas, means there is a connection with piped natural gas... 25,000 km of pipeline has been laid, there is gas in it," he said.
Gandhi, he added, is just "scaring people, creating fear psychosis" from Day One or Day Two of the war. "Is it good for the country? While opposing the Modi government, they are opposing India... the Opposition should not spread rumours," he said. Then in another jibe at the Opposition, he added, "We believe in sun power, they believe in son power".
On Tuesday, amid reports of Pakistan allegedly facilitating talks between Iran and the US, Gandhi had launched a sharp attack on Prime Minister Narendra Modi over the Middle East situation and India's handling of it.
Referring to the All-Party meet, he said he would not be able to because it clashes with a programme in Kerala.
"All-party meeting should take place, but a structural blunder has been made... And this cannot be fixed, especially since the Prime Minister cannot. He will do whatever America says and will not work in the interest of the farmers and the country. He will do whatever America and Israel say," Gandhi told reporters.
In a direct attack on the Congress, Joshi enumerated the times when the Congress-led government had taken mis-steps.
"What foreign policy are you (Rahul Gandhi) talking about? You are afraid... the way you have treated Pakistan, when a foreign secretary (former US Secretary of State Condoleeza Rice), comes and tells you 'don't attack', you tremble, bow down and come back," he said, citing then Union minister P Chidambaram's statement on India's preparedness after the 26/11 terror attack in Mumbai.
from NDTV News- Special https://ift.tt/qDoS07L
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