2G scam: Why UPA fears a JPC,Rs 45000cr spends cleared without any debate in LS.India Inc raises nearly $800 mn in October by ECBs/FCCBs
Dhoni in Rs 26crore deal with Vijay Mallya's UB Group
Indian Holocaust My Father`s Life and Time - FIVE Hundred Thirty THREE
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
http://basantipurtimes.blogspot.com/
The CBI on Saturday registered a case against unknown persons for hacking and defacement of its official website by people who identified themselves as "Pakistani Cyber Army". The government Friday rushed through some financial bills and other papers in parliament before both houses were again adjourned till afternoon as an adamant opposition stuck to its demand for a joint parliamentary committee (JPC) probe into the controversial 2G spectrum allotment.
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Rs 45000cr spends cleared without any debate in LS
As we all know how the bastardised Brahaminical Zionsit Extraconstitutional Regime of Genocide Culture, continuous Holocaust, Exclusion and Ethnic Cleansing handles the Political Setup to defend the Ruling Market Dominating Class interests and fabricates essential documents to justify its Anti People Activities.
With the government-Opposition standoff over a joint parliamentary committee probe into the 2G spectrum scam entering its 14th day, supplementary demand for grants amounting to spending of Rs 45,000 crore were passed without debate by Lok Sabha on Wednesday amid noisy disruptions.
Both sides blamed the other for massive spending being decided without debate, with a repeat expected in the upper House on Thursday. Supplementary demands related to railways are expected to be similarly cleared by Lok Sabha on Thursday.
The spending cleared involves allocations for food and fertilizer subsidy and roads — concerns deferred to by all parties who compete to be seen as most sensitive on the aam admi's affairs.
Of the additional government spending of Rs 45,000 crore approved by Lok Sabha, there is a cash outgo of Rs 20,000 crore. The second batch of supplementary demand for grants is over and above government spending sanctioned by the Budget. Though the government denied it, an abrupt closure of this Parliament session on Friday is on the cards.
Finance minister Pranab Mukherjee said he had waited for a week for Parliament to debate the proposals while Leader of Opposition in Lok Sabha Sushma Swaraj blamed the government's obduracy over not conceding a JPC.
The bunch of Intelligentsia combined with FDI fed NEERA RADIA inflicted Media creates the background of Persecution infinite leading to Military Option amidst hate campaign and mind control Game of Misinformation. They create a virutal world of superstructure of Development, empowerment and inclusion only to acomplish the agenda of calamities and Mass Destruction.
Meanwhile,French President Nicolas Sarkozy arrived here on Saturday on the first leg of his four-day visit that will seek to strengthen bilateral ties in key areas of space and civil nuclear cooperation.Sarkozy is accompanied by his singer-model wife Carla Bruni and a high-level delegation, including several key ministers of his cabinet and senior officials.On the other hand,Indian villagers on Saturday protested at the site of a nuclear power plant to be built with French help, campaigners said, as France's President Nicolas Sarkozy arrived in the country for a visit.
We are habitual to witness the Parliamentary soap Opera killing all the democratic norms and institution as Legislation, Policy Making and Governance are vested into India incs LPG Mafia Monopoly. Central Agencies and Judiciary are constantly Misused.
We all know about the continuous Logjam in the Parliament and the Reluctance of the Washington Dictated Superslaves to constitute JPC! Viewing this with special reference to the stayam asatyam INFLATED Economy and the manipulated statics of Bastardised Growth of the Sensex Economy, the latest development in the dept of CBI seems very very mysterious altogether!
'The Supreme Court has approved my contentions in the case against Raja. I will be filing a criminal case against Raja next week,' Swamy told IANS after he met Manmohan Singh at a function in the Parliament House.
'I and Manmohan Singh are old friends. We know each other for four decades. So, you should not be so surprised that we met,' he added.
'I had been a commerce minister and he had been a finance minister at the centre. However, in the recent past, I had been involved in teaching abroad,' he added.
Expressing hope that the guilty in the 2G spectrum scandal will be punished, Swamy said that the prime minister's instructions were not being followed in the matter.
'Manmohan Singh may be an economist, but he is not an expert on legal matters. I raised several crucial questions in the case,' he said.
Asked whether he was back at the centre-stage of Indian politics, Swamy said: 'I had been always at the centre-stage. Only difference was I was away for some time on academic work.' Swamy was a professor at Harvard,US.
What will be the impact of his case on the political scene in Tamil Nadu, where polls are due in May?
'Our party (JP) will contest the polls and raise the issue of corruption by Raja and other Dravida Munnetra Kazhagam (DMK) leaders,' Swamy said.
Will his party have an alliance with the AIADMK - the major rival of the DMK? 'That you will have to ask J. Jayalalithaa (AIADMK supremo),' Swamy responded to IANS.
Swamy's public interest litigation in the Supreme Court seeking permission for criminal prosecution of the then telecom minister A. Raja has created an upheaval in the political and legal circles. Raja resigned Nov 7, ahead of parliament's winter session.
However, parliament continued to be adjourned for the 16th day Friday, as the opposition has been demanding a Joint Parliamentary Committee (JPC) probe into the spectrum scandal.
The Comptroller and Auditor General (CAG), in its report tabled in parliament Nov 16, said that the faulty spectrum allotment had caused huge losses to the public exchequer amounting to thousands of crores rupees.
India Inc raises nearly $800 mn in October by ECBs/FCCBs
The CBI registered the case under various sections of Information Technology Act and said efforts were underway to restore the website for public interface at the earliest, an official spokesperson said here.
In a brief statement, the spokesperson said, "It has come to the notice of the CBI that its official website was unauthorisedly accessed and defaced in the intervening night of December 3 and 4. "A case has been registered in this connection in the cyber crime cell of the CBI and efforts are underway to restore the website with the help of National Informatics Centre and the CBI cyber security experts," the spokesperson said.
The home page of the CBI website was hacked and it had a message from the 'Pakistani Cyber Army' warning the 'Indian Cyber Army' that their websites should not be attacked. The hackers infiltrated into the CBI website, supposed to be one of the most secure websites. The CBI is connected to the command centre of world police organisation - Interpol - 24x7.
The message from the hackers also spoke about the filtering controls provided by the NIC, a body which mans computer servers across the country. Intelligence agencies have been often warning the government that proper cyber security was not being ensured in offices and that no security audit was being carried out.
The 'Pakistani Cyber Army' also threatened to carry out "mass defacement" of other websites. The cases were registered under Section 43 and 66 of the IT Act, the spokesperson said.
As per Section 43 of the Act, a person charged for tampering with or manipulating any computer, computer system or compute network he shall be liable to pay damages by way of compensation not exceeding one crore rupees to the person (or firm) so affected.
Section 66 says, "Whoever commits hacking shall be punished with imprisonment up to three years, or with fine which may extend up to two lakh rupees, or with both."
Greenpeace energy specialist Lauri Myllyvirta told media that at least 10,000 people had turned out to oppose the construction of the facility at Jaitapur in western Maharashtra state amid a heavy policy presence.
India's environment ministry last weekend gave clearance for the estimated one-trillion-rupee (22-billion-dollar) project, which will see French company Areva supply six, third-generation pressurised water reactors.
The state-run Nuclear Power Corporation of India Limited (NPCIL) is expected to sign a deal with Areva in the coming days after Sarkozy touched down in the southern city of Bangalore for a visit heavily slanted on trade deals.
The protest is the latest by fishermen, farmers and their families who will have to move to make way for the 9,900-megawatt plant, which the government hopes will help alleviate India's crippling energy deficit.
They have rejected a compensation package and raised fears about the contamination of fish stocks, plus concerns about the loss of agricultural land, including for growing mangoes, which are one of the state's main crops.
Official assurances that the project would transform the local economy and provide new jobs have also been met with scepticism. "The authorities are trying to spin this as people wanting more money," said Myllyvirta. "But the people just want to have their land and have the security of that lifestyle and income.
"They're very concerned about the radiation risk and whether there will be a waste-reprocessing facility on the site."
Campaigners also say that locating the plant in an earthquake-prone zone is "deeply irresponsible", with the risk compounded by the lack of an independent regulator to oversee India's nuclear industry and NPCIL's safety record.
Greenpeace claims it is not value for money and could require subsidies, including from French taxpayers, because of cost overruns and delays. It calls for more investment in renewable energy.
'Even at the last moment I am appealing to them (opposition) to come back to the floor of the house. Let the whole issue be debated. Let them say whatever they want to say on the floor of the house, and the government will also come out (with its views),' Mukherjee, who has been holding repeated parleys with the opposition to resolve the logjam in parliament, told mediapersons here.
Proceedings in both houses of parliament have been disrupted for 15 days at a stretch over the opposition's demand for a joint parliamentary committee (JPC) probe on the 2G spectrum allocation.
Mukherjee, considered the number two in Prime Minister Manmohan Singh's cabinet and the key troubleshooter of the United Progressive Alliance (UPA) dispensation, said the Public Accounts Committee (PAC) of parliament was the right body to go into the Comptroller and Auditor General's report on the alleged scam.
'PAC itself is a JPC. I don't understand why two JPCs should be there to look into the same matter,' he said.
Mukherjee said as soon as the CAG report came out it was referred to the PAC, which comprises 22 members of the Lok Sabha and Rajya Sabha. The PAC is headed by Bharatiya Janata Party (BJP) leader Murli Manohar Joshi.
'This is a permanent JPC. PAC is not coming from heaven. Each of the members are members of parliament. And it is the constitutional responsibility of the PAC to look into the report of the CAG,' he said.
The veteran minister said he has already held two meetings with the opposition, while Lok Sabha Speaker Meira Kumar called a meeting of all political parties. Several rounds of formal and informal discussions have also taken place.
Referring to the alleged irregularities related to the Commonwealth Games, Mukherjee said: 'As soon as the Games were over, the prime minister appointed a former CAG to look into the irregularities in the entire gamut of the Commonwealth Games.'
'Thereafter agencies like the Central Bureau of Investigation, the Income Tax department and the Enforcement Directorate are engaged in the investigation process. Side by side all other relevant inquiries are going on... We have already started investigation in respect of all matters of concern,' he added.
Nikhil, 26, married Rutuja, 22, daughter of Purushottam and Shubhangi Pathak, Thursday.
However, President Pratibha Patil, Congress president Sonia Gandhi, son Rahul Gandhi, opposition leader Sushma Swaraj, both the Ambani brothers, the top brass of the Rashtriya Swayamsevak Sangh (RSS) and other bigwigs skipped the bash held Friday night, official sources said.
Among those who attended were BJP veteran L.K. Advani, Gujarat Chief Minister Narendra Modi, Maharashtra Chief Minister Prithviraj Chavan, Jharkhand Chief Minister Arjun Munda, Chhattisgarh Chief Minister Raman Singh, Rajya Sabha opposition leader Arun Jaitley, Shiv Sena executive president Uddhav Thackeray, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, former Maharashtra chief minister Ashok Chavan and former BJP chief Rajnath Singh.
Bollywood celebrities including Hema Malini, Shatrughan Sinha, Anupam Kher and Kirron Kher also were present at the reception.
There was a massive air traffic jam over Nagpur since Friday afternoon till Saturday morning as scores of VVIPs were flying in and leaving after attending the wedding reception.
According to sources, at a point in time, 30 aircraft were seen hovering over the Nagpur sky. In total, there were around 50 chartered flights coming to and going out of Nagpur, several of which had to be routed to Jalgaon, Akola and Amravati for parking.
All regulars flight to and from Nagpur were disrupted, inconveniencing common passengers as their flights were delayed by three-five hours.
The reception hall was decorated with thousands of white roses and orchids while soft instrumental music played in the background. Purely vegetarian food was served on the occasion.
Many other weddings in and around Nagpur were badly affected as highways and roads leading to Nagpur were jammed with thousands of invitees proceeding towards the Reshimbag ground in the old city quarters, where political rallies and exhibitions are held. The general wedding reception for over 2 lakh people is being held there Saturday evening.
More than 2 lakh people have been invited from the entire Vidarbha region and Nagpur. Several party workers have also been called to this reception.
It's learnt that Congress troubleshooters carried out an internal exercise last week only to realise that the ruling combine will effectively be in a minority in any JPC. Even though a JPC is constituted on the basis of proportional representation depending on each party's strength in Parliament, the UPA found itself in a rather peculiar situation.
On their own, the Congress and its UPA allies represented in the government account for 259 seats in Lok Sabha and 91 in Rajya Sabha. Their majority in Lok Sabha is made up by parties extending outside support like the SP, BSP and RJD.
Back of the envelope calculations -- the government did so in a bid to get Parliament to function -- showed that in a 30-member JPC, the Congress along with UPA constituents in the government would get only 14 members.
This would mean representatives of parties like SP and BSP could become key players. The BSP's stunning silence on the issue and SP's participation in thronging the well of the House made the Congress a touch nervous.
A JPC without assured majority control, sources said, raised all sorts of concerns like whether the PM and other senior ministers would be embarrassed through repeated questioning. Even though the chair would belong to the UPA, there could be constant political pressure and the Committee itself could turn into a "political weapon" against the Treasury.
When it comes to forming a JPC, the convention is that members are drawn from both Houses in a 2:1 ratio favouring the Lok Sabha. Since it is based on proportional representation, the ruling combine should have a majority. But in this case, the UPA relies on outside support to make up the last fraction of its majority and that is where the complication is.
Prime Minister Manmohan Singh, while staking claim, had submitted a list of parties with a total tally of 315 MPs supporting the UPA. These included those supporting from outside. Within the government, the numbers are: Congress 208, Trinamool Congress 19, DMK 18, NCP 9, National Conference 3 and Muslim League 2. This works out to 259 in a House of 545. The rest were made up by SP, BSP and others.
In case of the Upper House, the total tally of parties represented in the government works out to only 91 out of a total strength of 243 members. The other twist is that a party like Lalu Prasad's RJD may not find any representation because it has only four members in Lok Sabha. On the other hand, Samajwadi Party with 22 MPs in the Lok Sabha, BSP with 21 will definitely get representation in any JPC. Herein lies the trouble for the Congress.
The numbers suggest that representatives of the political parties represented in the government will be 7 in case of a 15-member JPC; 14 in case of a 30-member JPC; and only 21 in a 45-member JPC.
Three of the four JPCs constituted by the government in the past -- Bofors (1987), securities scam (1992) and stock market scam (2001) -- had 30 members while the 2003 JPC into the cola case had 15 members.
Source: Agencies
04/12/2010
"Ultimate solution to produce more (to achieve food security) will require a lot of quality seeds, whether it is hybrid or even GM food," Pawar said at a CII meet here.
Increasing farm production is imperative as the proposed bill would entail extra foodgrains procurement from the open market and this may affect supply side and prices, the minister said.
According to official data, the country''s foodgrains production stood at 218.20 million tonnes in 2009-10 crop year. While this year, the government has kept a target of 244.50 million tonnes.
The UPA government would require more than 65 million tonnes of foodgrains to implement the proposed Food bill as per the recommendations of Sonia-Gandhi headed National Advisory Council (NAC), the minister had said yesterday.
This requirement is, however, higher than the government''s total procurement of 50-56 million tonnes in last two years.
Pointing to those who opposed the entry of GM food in India, Pawar said: "There are lot of people who always think otherwise and oppose new technologies."
Pawar, who was here to inaugurate the 9th edition of CII''s Agro Tech fair, highlighted the "revolution" Bt cotton has created in the country and how the technology has catapulted India to the second position in world in terms of production of the natural fibre.
At present, the government has allowed GM seeds in non-food crops like cotton. Among food crops, the government has put a moratorium on the release of Bt brinjal owing to opposition from various quarters.
Last year, the President had announced that the government will enact a legislation with a provision of supply of subsidised foodgrains of 25 kg of rice or wheat a month to poor at Rs 3 per kg.
Meanwhile, NAC has made suggestions on the number of beneficiaries to be covered under the proposed bill and it is being examined by the expert panel constituted by the Prime Minister Office.
NAC has suggested the government to grant a legal entitlement to subsidised foodgrains to at least 75 per cent of the country''s population under the proposed Bill through a reformed PDS system from the next financial year.
At present, the government provides cheap foodgrains to 18.04 crore families, which includes 6.52 BPL families and 11.5 APL families, under the Public Distribution System (PDS).
Off take under the PDS in the last fiscal was 42.4 million tonnes.
The apex court will hear the case on Tuesday.
In the last hearing, the Supreme Court slammed the CBI, asking it why it had take more than a year to investigate the matter.
The report may give details about the materials they have examined, the calls intercepted and also over eight thousand documents that were examined.
The apex court, earlier on November 25, had castigated the CBI on why it had not questioned Raja and the Telecom Secretary in the case, saying the agency was "beating around the bush" when "illegality is prima facie evident."
The Comptroller and Auditor General (CAG) report is replete with remarks about direct involvement of Raja in the irregularities," observed the Supreme Court bench.
A report tabled in the Parliament recently held Raja responsible for causing losses estimated at rupees 1.76 trillion to the exchequer in the 2G telecom spectrum allotments by favouring some operators and not resorting to auction.
The report further states that Raja had no apparent logical or valid reason to ignore the advice of the Law and Finance Ministries while allocating telecom spectrum to several firms in 2007-08.
In a letter to the Prime Minster, Badal said that it was surprising that such 'discriminatory rules and laws should exist in a country like France which has been the torch-bearer of freedom of conscience as well as of liberal and democratic ethos to large parts of world'.
'These laws give the misleading impression that the government of the Republic of France is either unaware of or callous towards not only the sacred tenets and practices of the Sikh faith but also the proud liberal legacy and history of their own great nation,' Badal added.
The French government had imposed a complete ban on wearing of turbans, along with any other religious headgear by students to schools in that country.
The Sikh community, across the globe and particularly in Punjab, where it lives in majority, had strongly opposed the ban on turbans saying that the turban was a unique part of Sikh identity.
Badal said: 'The turban is not just a symbol of cultural faith for the Sikhs but is an inalienable part of the Sikh identity as ordained by our Gurus.'
Asking the prime minister to impress upon the visiting dignitary the need to distinguish between the ordinary rituals of a religion and inalienable practices of any religion, Badal regretted that the Indian government 'had not taken up the matter with the French government properly'.
The filing of the curative petition coincided with the 26th anniversary of the tragedy in which the Ministry of Chemicals and Fertilizers has sought a re-examination of the apex court's February 14, 1989 judgement by which the compensation was fixed at 470 million dollars (Rs 750 crore) and the subsequent orders of February 15 and May 4 determining the mode of payment and settlement.
The apex court had also dismissed the petition to review its judgements and orders on October 3, 1991.
The petition filed by the Centre in the capacity of legal guardian of the victims of the world's largest industrial disaster has sought the payment of additional damages from Union Carbide Corporation (UCC), Dow Chemicals Company (which owns UCC since 2001), McLeod Russel India having 50.9 per cent share-holding of UCIL and UCIL, which is currently known as Eveready Industries Ltd.
The curative petition settled by Attorney General G E Vahanvati has contended that the figure of 470 million dollar was arrived by the apex court on "incorrect and wrong assumption of facts and data in the impugned judgements".
The Centre has submitted that the apex court in its 1989 judgement had observed that the settlement was based on certain 'assumptions of truth' and if the said the assumptions are unrelated to 'realities', then the 'element of justness' of the settlement would seriously be impaired and liberty was given to approach the court.
New Delhi There was some reprieve for Uttar Pradesh Chief Minister Mayawati with the the Supreme Court Green Bench ruling that the controversial Noida park project site was not forest land and that construction could take place on it.
Green Bench of Chief Justice of India S H Kapadia and Justice Aftab Alam, however, said the 'pucca' construction and the
landscaping of the park should not exceed 25 per cent of the
site area. This is because it was concerned about the the well being of the adjacent Okhla bird sanctuary.
The apex court directed the state government to form an expert committee to monitor construction in the park. It also directed the amicus curiae and the SC appointed centrally empowered committee to file continuous reports on the data given to them by this committee.
3 DEC, 2010, 10.56AM IST, RATNA BHUSHAN,ET BUREAU
Dhoni has signed a three-year endorsement deal with the country's largest spirit maker for Rs 25-26 crore, two officials in direct knowledge of the deal told ET.
"UB plans to activate the deal just before the Cricket World Cup kicks off in February," one of the officials said on condition of anonymity.
India is co-hosting the world cup along with Sri Lanka and Bangladesh, and corporates are scrambling to associate with the event as well as top Indian cricketers to make the most of the cricket craze in India.
The deal puts the Indian captain at par with Bollywood superstar Shah Rukh Khan in the endorsement space, just behind Aamir Khan, who early this year signed a record Rs 30-crore deal with telecom operator Etisalat.
Dhoni will be associated with McDowell's soda, the officials said. But it is an integrated deal that will go beyond brand endorsements , they added.
A UB Group spokeswoman said, "Yes, a deal has been signed between the UB group and the India captain MS Dhoni." She, however, refused to disclose financial or other details of the deal. A formal announcement by the UB group is expected in January .
The deal has been inked through the Arun Pandey-promoted talent management and entertainment firm Rhiti Sports Management, which recently signed a Rs 210-crore contract with Dhoni to manage all his endorsements , brand associations, patents and digital rights, images , visibility on social networking sites and merchandise for three years. Pandey could not be reached for comment.
Dhoni, who led India to victory in the 2007 World Twenty20 championship, was rated the world's highest paid cricketer by Forbes magazine last year ahead of master batsman Sachin Tendulkar . The Indian captain had earned $10 million last year.
Dhoni signed the deal with Rhiti Sports after calling for pitch from six talent management firms including IMG, Percept, PMG Sports, World Sport Group, Purple People and Planman Consulting.
Rhiti Sports, along with a joint venture with Mindscapes One, has offered a minimum guarantee of Rs 210 crore to the cricket captain in three years.
Experts in the talent management space believe this is achievable because, besides being immensely popular across the country and a huge success as Indian captain, Dhoni has an image of being a celebrity who is professional on the sets.
Before the UB deal, Dhoni's most expensive deal was with Reebok for close to Rs 29-30 crore for a 5-year period, which makes it about Rs 6 crore a year.
He is associated with 22 brands including footwear and apparel major Reebok, beverages and snacks company PepsiCo, real estate group Amrapali, telecom company Aircel and Future group's Big Bazaar retail chain.
He had been also associated with UB's rival spirits maker Pernod Ricard India (earlier Seagram ).
"I do think that in the second half of the year, and particularly in the last quarter of the financial year, public spending increases and as a consequence the liquidity situation will ease," said Rangarajan.
Liquidity has tightened sharply in the Indian banking system since October on low government spending and large cash withdrawals from banks during the festive season.
On November 29, the Reserve Bank of India extended the second liquidity adjustment facilities that were ending on December 16 up to January 28.
The RBI also relaxed the statutory liquidity ratio (SLR) by 2 per cent compared with earlier relaxation of 1 per cent, to enable banks to borrow more from the repo auctions in light of the tight cash condition.
SLR is the minimum amount of bonds and other approved securities that banks have to maintain as a percentage of their deposits.
It has been reduced to 23 per cent from 25 per cent temporarily.
Rangarajan added that he does not expect the RBI to hike rates further given the downward trend to inflation.
"If this trend can persist then perhaps no further action may be required. We think that by end of December inflation should come down to 6.5 per cent," he said.
India's annual food inflation eased to its lowest level in 18 months in the year to November 20, pressed down by lower prices of potatoes, pulses and vegetables, in line with policymaker forecasts.
The delegation includes Lok Janshakti Party (LJP) president Ram Vilas Paswan, Communist Party of India's (CPI) D. Raja, Communist Party of India-Marxist's (CPI-M) Gopal Choudhary, Telugu Desam Party's (TDP) Namo Nageshwar Rao, Janata Dal-Secular's Danish Ali and filmmaker Mahesh Bhatt as well as journalist Seema Mustafa.
The group is expected to call on hardline separatist leader Syed Ali Geelani, moderate Hurriyat leader Mirwaiz Umer Farooq, Democratic Freedom Party president Shabir Shah, Jammu and Kashmir Liberation Front (JKLF) chairman Muhammad Yasin Malik and mainstream People's Democratic Party (PDP) president Mehbooba Mufti.
The team will also meet relatives of the youth killed during the unrest that started June 11, local youths and representatives of the minority Pandits among others.
'We will build parliamentary and civil society pressure for taking steps needed for building a conducive atmosphere in the Valley,' Seema Mustafa told a local newspaper here.
She also said the appointment of non-political interlocutors by the central government was 'disappointing and the need of the hour is to involve those who can bridge the gap here'.
Global news agency and media group Bloomberg has signed a deal to build a new European headquarters close to the Bank of England in the city of London, the Financial Times reported on Saturday.
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Soon after he arrived here on a four-day visit, Sarkozy also backed India's entry into Nuclear Suppliers Group (NSG) and its case for a permanent membership of the expanded United Nations Security Council, saying it was "unthinkable" to keep a country of over one billion out.
"France is a friend of India. It will stand with it in its efforts in developing non-polluting energy and nuclear industry," the French President said addressing scientists at the Indian Space Research Organisation (ISRO). "We need to put an end to nuclear isolation of India. It was injustice done to India challenging your right to access to civil nuclear energy," Sarkozy, who is on his second visit to India, said.
India is now going to be a full-fledged member of the multilateral groups overseeing non-proliferation regimes, he said adding France would support India's application for candidacy of NSG. Sarkozy noted with "delight" that a French company Areva would be setting up nuclear plant at Jaitapur in Maharashtra that would go on to produce 10,000 MWe of "non-polluting" energy.
He, however, noted there was certain "inconsistency" in India's approach as while it wanted development of clean energy on one hand, at the same time "restricting access". "We cannot force upon India obligations without giving it the means to meet the obligations," he said.
Speaking of France's relationship with India, Sarkozy said that his country has been a good friend of India. "We don't speak in two languages. We mean what we say." Condemning the 26/11 attacks, he said any such strike on India was an attack on democracy and all democracies stand by India. "When India is attacked, it is democracy attacked," he said.
He observed that terrorism emanating from Pakistan and Afghanistan is a "major source of instability" in the world. Talking about Afghanistan, he praised India's role and said the world cannot afford to lose the war against Taliban.
"We cannot afford to allow Taliban to comeback. No one stand benefited if civil war raises its ugly head...we must succeed," he said. Noting that one cannot stand still if India wants to move ahead in 21st century, he said, "India, Brazil, Germany, Japan, some representatives of Africa and Arab world must be in UN Security Council."
Sarkozy showered praise on Prime Minister Manmohan Singh saying the Indian leader was obsessed with peace through development and eradication of poverty. "I have great admiration for Prime Minister Singh. I value his friendship. He is right in believing in peace and stability. India's challenge is that if you succeed through peace, it will have a huge knock-out effect on the world," he said.
India and France are united by common values and believe that international relations should not be governed by brutality or force and it should be based on dialogue and rule of law, Sarkozy said adding the relationship between the two countries should go much further.
Appreciating India's growth, he said its voice has to be heard in the global level. "We need India to regulate the world monetary order. I believe Indian currency will be counted as one of major currencies," he said.
On education sector, Sarkozy said he expected a three-fold growth in the number of Indian students going to France. "We want to train young Indians in our universities and open our research facilities for them. I very much hope that the reverse will also be true," he said.
Source: Agencies
There are several financial intermediaries offering all kinds of services. Look around any given street in the major cities of the country and you would see their offices. One would assume, therefore, that the general population is aware of financial products and there is a thriving market. A closer examination reveals that financial illiteracy is widespread. What a paradox! The trouble is that the intermediaries tend to represent the manufacturers' interests and behave much like high-street hustlers trying to hawk products that enhance their returns and do not pay sufficient heed to consumers' interests. While this is a worrying fact, we believe that given the size of the market, the income levels and the latent needs, there is a real opportunity for entrepreneurs to work the reverse order—take the consumers' interest and get them the best deals in the market. It is obviously not going to be easy and is the proverbial road less taken.
Financial inclusion is a talked about topic today and rightly so, given the fact that a large proportion of the population does not have access to basic financial services. However, even among those who are considered financially included, there is a lot of exclusion because of various factors. We are talking about awareness and use of various financial products and services (insurance, investments). This lack of awareness has a serious impact on the economy, because the absence of awareness leads to unhealthy concentration of household investments in instruments such as real estate and land (which are easily understood).
An underdeveloped financial services industry has two components—first the reach itself and second the awareness.
Our research among urban respondents (SEC A and B) across over 400 towns reveals that both on the debt side and on the investment side, there is chronic under penetration.
Of course, one doesn't want people to go into debt. However, the lack of borrowing is not because people do not want to borrow for spending, it's more because they prefer to make informal borrowings, or in some cases they are borrowing to buy certain classes of assets in the parallel economy and are hence not eligible for institutional debt.
As many as 48% of those below the age of 30 years and 38% of those above 30 years have never taken any loan. Personal loan, which tend to be of smaller value and is also the costliest loan, has the highest penetration. These are usually unplanned loans to meet exigencies. The average value of personal loans tends to be of the order of Rs 1.2 lakh.
Insurance is an instrument to protect against unforeseen circumstances. As such, one would expect a population climbing the income ladder rapidly to worry about protecting the lifestyle of their near and dear ones. The truth, on the other hand, is that most people are under-insured and the awareness about term insurance is low.
We found that even among SEC A and B, the penetration of life insurance products is low. As many as 20% of those above 30 years of age have no life insurance cover.
The penetration of term insurance is very low, and only 5% of SEC A and B respondents have this cover. On the other hand, average life insurance cover is just about Rs 9.7 lakh, which clearly indicates that urban India is under-insured, not because it cannot afford to be insured, but because it is not fully aware of the ways in which it can get such protection. Clearly, insurance covers are being taken just for tax rebate purposes and not for life cover.
Insurance as a product is not understood by a vast number of people, and only a small proportion has taken adequate protection.
It is alarming that as many as 58% of households do not have any health insurance cover. Clearly, people are so unaware that there is a time bomb ticking away, ready to explode at unexpected moments in life. It is also worrying that even older respondents seem to have the same level of awareness as the younger respondents.
Frequently, the cover is also not well thought out, and the average cover for hospitalisation is inadequate should an insured person actually fall sick and is hospitalised.
The scenario is not significantly different when one looks at investment instruments. The modern financial system provides for several different instruments for different risk profiles under excellent regulation. However, one finds that once again, the awareness level is pretty low.
We find that whereas there are significant investors in real estate (which is easily understood, but is highly leveraged), fixed deposits and PF (which is usually compulsory), the penetration of instruments such as shares, company debt, etc, is very low. On the other hand, investment in gold has high penetration (in physical form). Incredibly, something like post office deposits has much penetration as investment in shares.
Mutual funds is another instrument not clearly understood by investors. Many investors believe that it is supposed to be used for tax saving purposes only! Very few invest in debt funds, which is far more liquid than fixed deposits. To cut a long story short, despite the availability of many different options, investors, due lack of awareness, do not use them. Instead, they go for less efficient investments, or worse, no investment at all.
Most Indians prefer keeping their savings in assets like bank or post office deposits and cash at home. Their longer-term investments tend to be in physical assets like real estate and gold and very few utilise financial instruments. Ironically, the latter option is probably the most efficient and rewarding.
Take the case of reverse mortgage, which has been introduced for senior citizens recently. The awareness levels are very low, even at the banks that are offering it. What happens here is that the borrower pledges the home to the bank and gets a loan.
The homeowner and now the borrower will not be required to repay the loan during his/her lifetime. On death or leaving the house permanently, the loan, along with the accumulated interest, is repaid through the sale of the property pledged. The heirs can pay off the loan and take the property. Since the property in general appreciates significantly, the heirs are still benefiting from the capital gains.
When one looks at several old couples living alone (children away or abroad), one would think that a scheme like this is a no-brainer. It gives them extra income for the rest of their lives and the property price gains can easily be secured by the heirs. Yet, one finds that there is very little awareness.
On an average, Indian households invest their savings in bank deposits. This can work wonders if it gets directed to market-linked instruments. The stumbling blocks are two—financial inclusion itself and financial literacy, or the lack of it, among those who are financially included.
On the financial literacy front, we know that market participants and the regulators have been trying hard, particularly during the past four-five years, to deliver programmes targeting enhancement in financial literacy. Perhaps, more can be done, but the task is truly daunting, and it is not very clear that mere efforts will get faster adoption. It is here that one suspects there is an opportunity for entrepreneurs who are willing to invest two-three years to really educate the market and build a profitable scalable business.
Perhaps many are already working on it and we will hear of success stories in a few years. What they need to do is to build a financial services intermediaries business, which focuses on educating prospects and delivering solutions to them. It needs to have a significantly higher element of education and service than the high street hustling models that many brokerages and agents follow. Therefore, it will necessarily involve a higher gestation period and staying power. Few will have the fortitude, but for those who do have it in them to stick it out, the rewards are bound to be exceptional.
http://www.expressindia.com/latest-news/Fiscal-awareness-deficit/720105/
DEC, 2010, 06.40AM IST, AMITI SEN,ET BUREAU
The umbrella body of developers and units, which has been asked by the Parliamentary committee for its views, has also sought legal opinion to make its case tight.
"We have sought a personal hearing from the committee. Let us hope we get it," export promotion council for EoUs and SEZs (EPCES ) founder member RK Sonthalia told ET.
The proposed DTC , which seeks to streamline the existing tax structure, has suggested imposition of a minimum alternate tax (MAT) of 20% on units and linking incometax exemption to investments made rather than profits earned.
The EPCES, that has taken inputs from the commerce department for its memorandum, has argued against imposition of MAT and has asked for more time for a switchover to the new tax regime for SEZ units.
"Our views will be reflected in the report of the export council as we may not be separately asked for it," a commerce department official told ET.
Fiscal deficit down 33.76% at Rs 1.62 lakh cr in Apr-Oct
RBI action to inject liquidity in the system: Finmin
The Finance Ministry on Tuesday said RBI action to allow banks to borrow more funds from it would inject liquidity into the system that is facing a cash crunch due to a slew of IPOs and busy credit season.
"They have taken some action yesterday and that would put money in the system and (RBI) would keep doing it as and when necessary," Finance Secretary Ashok Chawla said.
He was speaking to reporters on the sidelines of a function organised by the Finance Ministry and think tank NIPFP.
RBI yesterday allowed banks to borrow funds from it, even if they miss mandatory requirement to keep 25 per cent of their deposits in government bonds by 2 per cent.
For this purpose, RBI will continue to conduct special Liquidity Adjustment Facility.
RBI lends and borrows money from banks against government securities under this facility.
RBI announced these measures on fears of tightening of liquidity in the coming weeks due to expected pick up in credit offtake and lining up of IPOs.
While manganese ore company MOIL's IPO is open for subscription, Shipping Corporation's FPO will open tomorrow. Both IPOs are expected to raise around Rs 1,200 crore each.
Around Rs 22,000 crore has been mopped up from public offers of state-run companies so far this year.
The tight cash position in the system can be gauged from the fact that banks have borrowed over Rs 1 lakh crore through the liquidity adjustment facility of the RBI since November 8.
Prime Minister's Economic Advisory Council Chairman C Rangarajan said,"Banks have been borrowing from the RBI continously. It indicates there is a need for liquidity and that is why they (RBI) has decided to take some action."
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In case the airlines fail to take remedial action , the Directorate General of Civil Aviation (DGCA) was empowered to take decisions that would benefit air travellers. "The regulator is not helpless.
It should not be presumed that the regulator cannot take action. I am sure they can and they will when the situation warrants," the Minister said.
Patel had earlier said that neither exorbitant fares nor "predatory fares" (deliberate lowering of ticket prices below the actual costs to out compete other airlines) would not be allowed. In Delhi, Top executives of three low cost airlines -- Spicejet, Indigo and GoAir -- were called for discussions on the issue by Director General of Civil Aviation E K Bharat Bhushan.
"The whole purpose is to ensure that there is some reasonableness about the fares," Bhushan, who was appointed to the post only yesterday, told reporters after the meeting. He said he has called representatives of full service airlines -- Air India, Jet Airways and Kingfisher Airlines -- for discussions on Monday.
The airlines'' proposal of kilometre-based fare slabs was rejected earlier this week by the Civil Aviation Ministry which maintained there was "no justification" for fare hike in an "arbitrary manner". As per the proposals, the airfares were quoted by the airlines for four distance slabs of less than 750 km, 750- 1,000 km, 1,000-1,400 km and beyond 1,400 km.
Under it, a passenger buying an economy class ticket closer to the travel date may have to shell out Rs 10,500 for a Delhi-Chandigarh or Chennai-Coimbatore flight and anything upto Rs 40,000 on the Delhi-Bangalore or Delhi-Kolkata route. The airlines have ''bucket fares'' which mean there are certain number seats reserved in each flight at low fares that can be booked much in advance.
As soon as these number of seats are filled, the fares grow progressively to a higher bucket closer to the date of travel "We have told them we want some predictability and fairness in the fares which they charge, which we are trying to enforce," Bhushan said. .
The raids against the two top aides of OC Chairman Suresh Kalmadi are on at 11 places in various parts of the capital, a top source in the CBI told IANS. Further details are awaited.
The Enforcement Directorate (ED) last month questioned Verma for his alleged role in the financial irregularities in the Queen's Baton Relay in London in 2009.
Three other aides of Kalmadi -- T.S. Darbari, Sanjay Mohindroo and M. Jayachandran -- are already under custody for their alleged involvement in the Queen's Baton Relay scam.
The OC is understood to have paid AM Films - a sister concern of AM Car - over 450,000 pounds for services during the Queen's Baton Relay function in London in October 2009 without following proper tendering procedures and paper work.
Kalmadi had Monday claimed he had not committed any offence and was ready to answer all CBI questions.
'I welcome the investigations (into the financial irregularities in the Commonwealth Games). I will give a statement in parliament and I have met Lok Sabha Speaker Meira Kumar and she said whenever the house runs I can make the statement,' Kalmadi said.
Heartening though this might be for the Maoists, the rebels have been caught in an unenviable position. The polls have exposed their double-speak. On one hand they have called for a boycott of the polls and on the other hand their own relatives are contesting the elections. According to police sources, the rebels are forcing rival candidates to withdraw from the fray to help their relatives and friends win posts.
Take the example of Manju Devi, wife of jailed zonal commander Kuldeep Ganju. She is fighting for the panchayat chief's post at Hurnali of Palamau district. In the same district, Raj Kumari is contesting for the panchayat chief's post from Ichak. She is the wife of Dilchand Ganju, commander of Tritiya Prastuti Committee (TPC).
There are also examples of relatives, particularly wives, of the Left-wing ultras being elected unopposed in the current panchayat polls. In Lawalong block of Chatra district, Mamta Devi, Neelam Devi Hedum, Ramkali Devi and others have been elected panchayat chiefs unopposed. All of them are married to Maoist guerrillas.
Due to Maoist threat, more than 3,000 candidates have been elected unopposed for different posts in the state. According to police sources, majority of these candidates have the support of the rebels.
Even political parties do not have any objection over this trend. 'The motive behind panchayat polls is to strengthen the grass-root level democracy. We should appreciate if Maoists are ready to join the mainstream of the society by reposing faith in the democratic system,' Ramesh Puskar, a Bharatiya Janata Party leader, told IANS.
Jharkhand is holding its first panchayat polls after it was carved from Bihar in 2000. The five-phase panchayat polls began Nov 27.
The last panchayat polls took place in 1979 when Jharkhand was part of Bihar. The polls were delayed in Jharkhand due to legal battle over reservations fro tribal people in the scheduled areas, notified tribal areas.
हिंदी में
CBI website hacked, agency files case.Swamy meets PM, says he will file case against Raja
Sarkozy, Bruni arrive in India on four-day visit
Thousands protest against French-backed Indian nuclear plantDhoni in Rs 26crore deal with Vijay Mallya's UB Group
2G scam: CBI submits status report in Supreme Court
Indian Holocaust My Father`s Life and Time - FIVE Hundred Thirty THREE
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
http://basantipurtimes.blogspot.com/
The CBI on Saturday registered a case against unknown persons for hacking and defacement of its official website by people who identified themselves as "Pakistani Cyber Army". The government Friday rushed through some financial bills and other papers in parliament before both houses were again adjourned till afternoon as an adamant opposition stuck to its demand for a joint parliamentary committee (JPC) probe into the controversial 2G spectrum allotment.
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Parliament ill-equipped to probe 2G Spectrum scam: Bansal
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Rs 45000cr spends cleared without any debate in LS
As we all know how the bastardised Brahaminical Zionsit Extraconstitutional Regime of Genocide Culture, continuous Holocaust, Exclusion and Ethnic Cleansing handles the Political Setup to defend the Ruling Market Dominating Class interests and fabricates essential documents to justify its Anti People Activities.
With the government-Opposition standoff over a joint parliamentary committee probe into the 2G spectrum scam entering its 14th day, supplementary demand for grants amounting to spending of Rs 45,000 crore were passed without debate by Lok Sabha on Wednesday amid noisy disruptions.
Both sides blamed the other for massive spending being decided without debate, with a repeat expected in the upper House on Thursday. Supplementary demands related to railways are expected to be similarly cleared by Lok Sabha on Thursday.
The spending cleared involves allocations for food and fertilizer subsidy and roads — concerns deferred to by all parties who compete to be seen as most sensitive on the aam admi's affairs.
Of the additional government spending of Rs 45,000 crore approved by Lok Sabha, there is a cash outgo of Rs 20,000 crore. The second batch of supplementary demand for grants is over and above government spending sanctioned by the Budget. Though the government denied it, an abrupt closure of this Parliament session on Friday is on the cards.
Finance minister Pranab Mukherjee said he had waited for a week for Parliament to debate the proposals while Leader of Opposition in Lok Sabha Sushma Swaraj blamed the government's obduracy over not conceding a JPC.
The bunch of Intelligentsia combined with FDI fed NEERA RADIA inflicted Media creates the background of Persecution infinite leading to Military Option amidst hate campaign and mind control Game of Misinformation. They create a virutal world of superstructure of Development, empowerment and inclusion only to acomplish the agenda of calamities and Mass Destruction.
Meanwhile,French President Nicolas Sarkozy arrived here on Saturday on the first leg of his four-day visit that will seek to strengthen bilateral ties in key areas of space and civil nuclear cooperation.Sarkozy is accompanied by his singer-model wife Carla Bruni and a high-level delegation, including several key ministers of his cabinet and senior officials.On the other hand,Indian villagers on Saturday protested at the site of a nuclear power plant to be built with French help, campaigners said, as France's President Nicolas Sarkozy arrived in the country for a visit.
We are habitual to witness the Parliamentary soap Opera killing all the democratic norms and institution as Legislation, Policy Making and Governance are vested into India incs LPG Mafia Monopoly. Central Agencies and Judiciary are constantly Misused.
We all know about the continuous Logjam in the Parliament and the Reluctance of the Washington Dictated Superslaves to constitute JPC! Viewing this with special reference to the stayam asatyam INFLATED Economy and the manipulated statics of Bastardised Growth of the Sensex Economy, the latest development in the dept of CBI seems very very mysterious altogether!
Swamy meets PM, says he will file case against Raja
Janata Party leader and complainant in the 2G spectrum case Subramanian Swamy Friday met Prime Minister Manmohan Singh, and said later he will file a criminal case against former telecom minister A. Raja next week.'The Supreme Court has approved my contentions in the case against Raja. I will be filing a criminal case against Raja next week,' Swamy told IANS after he met Manmohan Singh at a function in the Parliament House.
'I and Manmohan Singh are old friends. We know each other for four decades. So, you should not be so surprised that we met,' he added.
'I had been a commerce minister and he had been a finance minister at the centre. However, in the recent past, I had been involved in teaching abroad,' he added.
Expressing hope that the guilty in the 2G spectrum scandal will be punished, Swamy said that the prime minister's instructions were not being followed in the matter.
'Manmohan Singh may be an economist, but he is not an expert on legal matters. I raised several crucial questions in the case,' he said.
Asked whether he was back at the centre-stage of Indian politics, Swamy said: 'I had been always at the centre-stage. Only difference was I was away for some time on academic work.' Swamy was a professor at Harvard,US.
What will be the impact of his case on the political scene in Tamil Nadu, where polls are due in May?
'Our party (JP) will contest the polls and raise the issue of corruption by Raja and other Dravida Munnetra Kazhagam (DMK) leaders,' Swamy said.
Will his party have an alliance with the AIADMK - the major rival of the DMK? 'That you will have to ask J. Jayalalithaa (AIADMK supremo),' Swamy responded to IANS.
Swamy's public interest litigation in the Supreme Court seeking permission for criminal prosecution of the then telecom minister A. Raja has created an upheaval in the political and legal circles. Raja resigned Nov 7, ahead of parliament's winter session.
However, parliament continued to be adjourned for the 16th day Friday, as the opposition has been demanding a Joint Parliamentary Committee (JPC) probe into the spectrum scandal.
The Comptroller and Auditor General (CAG), in its report tabled in parliament Nov 16, said that the faulty spectrum allotment had caused huge losses to the public exchequer amounting to thousands of crores rupees.
India Inc raises nearly $800 mn in October by ECBs/FCCBs
- India Inc raised nearly $800 million overseas during October this year via External Commercial Borrowings (ECBs) and Foreign Currency Convertible Bonds (FCCBs), according to the Reserve Bank data.
- Around 50 companies raised $64,17,58,274 through the automatic route for various projects, while $15,79,35,000 was raised by three companies under the approval route.
- Nissan Motor India Pvt Ltd garnered $156 million in ECBs under the automatic route in two tranches as part of its line of credit.
- Gitanjali Gems and Jewels raised $110 million under the automatic route for official purposes.
- Corporates, registered under the Companies Act, 1956, can access ECBs, up to $500 million in a financial year, under the automatic route. The ECB, which is not covered by the automatic route, is considered under the approval route on a case-by-case basis by RBI.
- ECBs are used as an additional source of funding by Indian corporates to build capacity and raise fresh investments to augment the resources available domestically.
- Foreign Currency Convertible Bonds (FCCBs) are also governed by norms similar to ECBs.
- Other major fund raisings in October under the automatic route were done by Aurobindo Pharma Ltd ($35 million, for modernisation), and Himadri Chemicals & Industries ($34 million, for modernisation).
- Under the approval route, SREI Equipment Finance raised $80 million for import of capital goods. Besides, power firm Rural Electrification Corporation raised $70 million for onward lending.
Pune blast: ATS files charges against Baig, six others
- Pune: The Maharashtra Police's Anti-Terrorism Squad (ATS) Saturday filed a charge sheet against seven people, including the sole arrested Mirza Himayat Baig, for Pune's German Bakery bomb blast, Baig's lawyer said.
Air-fares to stabilise within a week: Praful Patel
- Mumbai: Union Civil Aviation Minister Praful Patel today that air-fares that had risen astronomically in the last month will stabilise within a week. "I am sure that within a week you will find corrective action being taken (by airlines)," Patel told reporters here.
'Thomas recommended palmolein import even before Kerala govt did'
- Thiruvananthapuram: Documents related to the controversial import of palmolein by the Congress government in Kerala in 1992-93 clearly show that beleaguered Central Vigilance Commissioner P J Thomas, the eighth accused in the palmolein scam, had acted much before the state cabinet took a final decision on the supply.
The CBI registered the case under various sections of Information Technology Act and said efforts were underway to restore the website for public interface at the earliest, an official spokesperson said here.
In a brief statement, the spokesperson said, "It has come to the notice of the CBI that its official website was unauthorisedly accessed and defaced in the intervening night of December 3 and 4. "A case has been registered in this connection in the cyber crime cell of the CBI and efforts are underway to restore the website with the help of National Informatics Centre and the CBI cyber security experts," the spokesperson said.
The home page of the CBI website was hacked and it had a message from the 'Pakistani Cyber Army' warning the 'Indian Cyber Army' that their websites should not be attacked. The hackers infiltrated into the CBI website, supposed to be one of the most secure websites. The CBI is connected to the command centre of world police organisation - Interpol - 24x7.
The message from the hackers also spoke about the filtering controls provided by the NIC, a body which mans computer servers across the country. Intelligence agencies have been often warning the government that proper cyber security was not being ensured in offices and that no security audit was being carried out.
The 'Pakistani Cyber Army' also threatened to carry out "mass defacement" of other websites. The cases were registered under Section 43 and 66 of the IT Act, the spokesperson said.
As per Section 43 of the Act, a person charged for tampering with or manipulating any computer, computer system or compute network he shall be liable to pay damages by way of compensation not exceeding one crore rupees to the person (or firm) so affected.
Section 66 says, "Whoever commits hacking shall be punished with imprisonment up to three years, or with fine which may extend up to two lakh rupees, or with both."
Sarkozy, Carla Bruni and the delegation later drove to the nearby Leela Palace Hotel for a brief stay.
The highlight of his visit to the city will be his address to scientists at the India's space research agency ISRO.
During Sarkozy's visit to ISRO, the focus is expected to be on Indo-French space collaborative projects, the Megha Tropiques and SARAL.
Megha-Tropiques (Megha meaning cloud in Sanskrit and Tropiques in French meaning Tropics), being jointly developed by ISRO and French National Space Agency (CNES), is expected to be launched by 2011 to study tropical climate.
Another ISRO-CNES mission to be launched next year is SARAL (Satellite for Argos and Altika) for seasonal forecast,
oceanography and climate studies.
Sarkozy is likely to have a brief interaction with top officials of ISRO, who are expected to take him on a short visit around the ISRO facility.
Carla Bruni is expected to spend time at the Hotel today.
The visiting French leader President will visit Agra, Delhi and Mumbai during his India visit.
A 50-member business delegation and a 100-member team of journalists from France have already arrived in India for the President's visit.
Greenpeace energy specialist Lauri Myllyvirta told media that at least 10,000 people had turned out to oppose the construction of the facility at Jaitapur in western Maharashtra state amid a heavy policy presence.
India's environment ministry last weekend gave clearance for the estimated one-trillion-rupee (22-billion-dollar) project, which will see French company Areva supply six, third-generation pressurised water reactors.
The state-run Nuclear Power Corporation of India Limited (NPCIL) is expected to sign a deal with Areva in the coming days after Sarkozy touched down in the southern city of Bangalore for a visit heavily slanted on trade deals.
The protest is the latest by fishermen, farmers and their families who will have to move to make way for the 9,900-megawatt plant, which the government hopes will help alleviate India's crippling energy deficit.
They have rejected a compensation package and raised fears about the contamination of fish stocks, plus concerns about the loss of agricultural land, including for growing mangoes, which are one of the state's main crops.
Official assurances that the project would transform the local economy and provide new jobs have also been met with scepticism. "The authorities are trying to spin this as people wanting more money," said Myllyvirta. "But the people just want to have their land and have the security of that lifestyle and income.
"They're very concerned about the radiation risk and whether there will be a waste-reprocessing facility on the site."
Campaigners also say that locating the plant in an earthquake-prone zone is "deeply irresponsible", with the risk compounded by the lack of an independent regulator to oversee India's nuclear industry and NPCIL's safety record.
Greenpeace claims it is not value for money and could require subsidies, including from French taxpayers, because of cost overruns and delays. It calls for more investment in renewable energy.
Let parliament function, Mukherjee appeals, but rules out JPC
Union Finance Minister and senior Congress leader Pranab Mukherjee Saturday appealed to the opposition to let parliament function smoothly, but ruled out a parliamentary probe into the allocation of 2G spectrum in 2008.'Even at the last moment I am appealing to them (opposition) to come back to the floor of the house. Let the whole issue be debated. Let them say whatever they want to say on the floor of the house, and the government will also come out (with its views),' Mukherjee, who has been holding repeated parleys with the opposition to resolve the logjam in parliament, told mediapersons here.
Proceedings in both houses of parliament have been disrupted for 15 days at a stretch over the opposition's demand for a joint parliamentary committee (JPC) probe on the 2G spectrum allocation.
Mukherjee, considered the number two in Prime Minister Manmohan Singh's cabinet and the key troubleshooter of the United Progressive Alliance (UPA) dispensation, said the Public Accounts Committee (PAC) of parliament was the right body to go into the Comptroller and Auditor General's report on the alleged scam.
'PAC itself is a JPC. I don't understand why two JPCs should be there to look into the same matter,' he said.
Mukherjee said as soon as the CAG report came out it was referred to the PAC, which comprises 22 members of the Lok Sabha and Rajya Sabha. The PAC is headed by Bharatiya Janata Party (BJP) leader Murli Manohar Joshi.
'This is a permanent JPC. PAC is not coming from heaven. Each of the members are members of parliament. And it is the constitutional responsibility of the PAC to look into the report of the CAG,' he said.
The veteran minister said he has already held two meetings with the opposition, while Lok Sabha Speaker Meira Kumar called a meeting of all political parties. Several rounds of formal and informal discussions have also taken place.
Referring to the alleged irregularities related to the Commonwealth Games, Mukherjee said: 'As soon as the Games were over, the prime minister appointed a former CAG to look into the irregularities in the entire gamut of the Commonwealth Games.'
'Thereafter agencies like the Central Bureau of Investigation, the Income Tax department and the Enforcement Directorate are engaged in the investigation process. Side by side all other relevant inquiries are going on... We have already started investigation in respect of all matters of concern,' he added.
Politicians, celebrities at Gadkari son's wedding bash
Several senior political leaders and celebrities descended on Nagpur for Bharatiya Janata Party (BJP) president Nitin Gadkari's son Nikhil's grand wedding reception.Nikhil, 26, married Rutuja, 22, daughter of Purushottam and Shubhangi Pathak, Thursday.
However, President Pratibha Patil, Congress president Sonia Gandhi, son Rahul Gandhi, opposition leader Sushma Swaraj, both the Ambani brothers, the top brass of the Rashtriya Swayamsevak Sangh (RSS) and other bigwigs skipped the bash held Friday night, official sources said.
Among those who attended were BJP veteran L.K. Advani, Gujarat Chief Minister Narendra Modi, Maharashtra Chief Minister Prithviraj Chavan, Jharkhand Chief Minister Arjun Munda, Chhattisgarh Chief Minister Raman Singh, Rajya Sabha opposition leader Arun Jaitley, Shiv Sena executive president Uddhav Thackeray, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, former Maharashtra chief minister Ashok Chavan and former BJP chief Rajnath Singh.
Bollywood celebrities including Hema Malini, Shatrughan Sinha, Anupam Kher and Kirron Kher also were present at the reception.
There was a massive air traffic jam over Nagpur since Friday afternoon till Saturday morning as scores of VVIPs were flying in and leaving after attending the wedding reception.
According to sources, at a point in time, 30 aircraft were seen hovering over the Nagpur sky. In total, there were around 50 chartered flights coming to and going out of Nagpur, several of which had to be routed to Jalgaon, Akola and Amravati for parking.
All regulars flight to and from Nagpur were disrupted, inconveniencing common passengers as their flights were delayed by three-five hours.
The reception hall was decorated with thousands of white roses and orchids while soft instrumental music played in the background. Purely vegetarian food was served on the occasion.
Many other weddings in and around Nagpur were badly affected as highways and roads leading to Nagpur were jammed with thousands of invitees proceeding towards the Reshimbag ground in the old city quarters, where political rallies and exhibitions are held. The general wedding reception for over 2 lakh people is being held there Saturday evening.
More than 2 lakh people have been invited from the entire Vidarbha region and Nagpur. Several party workers have also been called to this reception.
4/12/2010
2G scam: Why UPA fears a JPC
New Delhi: Behind the Congress's adamant stand against forming a Joint Parliamentary Committee (JPC) to probe the 2G spectrum scam is the destabilising reality of numbers in Parliament.It's learnt that Congress troubleshooters carried out an internal exercise last week only to realise that the ruling combine will effectively be in a minority in any JPC. Even though a JPC is constituted on the basis of proportional representation depending on each party's strength in Parliament, the UPA found itself in a rather peculiar situation.
On their own, the Congress and its UPA allies represented in the government account for 259 seats in Lok Sabha and 91 in Rajya Sabha. Their majority in Lok Sabha is made up by parties extending outside support like the SP, BSP and RJD.
Back of the envelope calculations -- the government did so in a bid to get Parliament to function -- showed that in a 30-member JPC, the Congress along with UPA constituents in the government would get only 14 members.
This would mean representatives of parties like SP and BSP could become key players. The BSP's stunning silence on the issue and SP's participation in thronging the well of the House made the Congress a touch nervous.
A JPC without assured majority control, sources said, raised all sorts of concerns like whether the PM and other senior ministers would be embarrassed through repeated questioning. Even though the chair would belong to the UPA, there could be constant political pressure and the Committee itself could turn into a "political weapon" against the Treasury.
When it comes to forming a JPC, the convention is that members are drawn from both Houses in a 2:1 ratio favouring the Lok Sabha. Since it is based on proportional representation, the ruling combine should have a majority. But in this case, the UPA relies on outside support to make up the last fraction of its majority and that is where the complication is.
Prime Minister Manmohan Singh, while staking claim, had submitted a list of parties with a total tally of 315 MPs supporting the UPA. These included those supporting from outside. Within the government, the numbers are: Congress 208, Trinamool Congress 19, DMK 18, NCP 9, National Conference 3 and Muslim League 2. This works out to 259 in a House of 545. The rest were made up by SP, BSP and others.
In case of the Upper House, the total tally of parties represented in the government works out to only 91 out of a total strength of 243 members. The other twist is that a party like Lalu Prasad's RJD may not find any representation because it has only four members in Lok Sabha. On the other hand, Samajwadi Party with 22 MPs in the Lok Sabha, BSP with 21 will definitely get representation in any JPC. Herein lies the trouble for the Congress.
The numbers suggest that representatives of the political parties represented in the government will be 7 in case of a 15-member JPC; 14 in case of a 30-member JPC; and only 21 in a 45-member JPC.
Three of the four JPCs constituted by the government in the past -- Bofors (1987), securities scam (1992) and stock market scam (2001) -- had 30 members while the 2003 JPC into the cola case had 15 members.
Source: Agencies
04/12/2010
Pawar advocates GM crops for meeting food security plans
Chandigarh, Dec 4 (PTI) Food and Agriculture Minister Sharad Pawar today advocated introduction of genetically modified (GM) food crops to meet the foodgrains requirement under the proposed National Food Security bill."Ultimate solution to produce more (to achieve food security) will require a lot of quality seeds, whether it is hybrid or even GM food," Pawar said at a CII meet here.
Increasing farm production is imperative as the proposed bill would entail extra foodgrains procurement from the open market and this may affect supply side and prices, the minister said.
According to official data, the country''s foodgrains production stood at 218.20 million tonnes in 2009-10 crop year. While this year, the government has kept a target of 244.50 million tonnes.
The UPA government would require more than 65 million tonnes of foodgrains to implement the proposed Food bill as per the recommendations of Sonia-Gandhi headed National Advisory Council (NAC), the minister had said yesterday.
This requirement is, however, higher than the government''s total procurement of 50-56 million tonnes in last two years.
Pointing to those who opposed the entry of GM food in India, Pawar said: "There are lot of people who always think otherwise and oppose new technologies."
Pawar, who was here to inaugurate the 9th edition of CII''s Agro Tech fair, highlighted the "revolution" Bt cotton has created in the country and how the technology has catapulted India to the second position in world in terms of production of the natural fibre.
At present, the government has allowed GM seeds in non-food crops like cotton. Among food crops, the government has put a moratorium on the release of Bt brinjal owing to opposition from various quarters.
Last year, the President had announced that the government will enact a legislation with a provision of supply of subsidised foodgrains of 25 kg of rice or wheat a month to poor at Rs 3 per kg.
Meanwhile, NAC has made suggestions on the number of beneficiaries to be covered under the proposed bill and it is being examined by the expert panel constituted by the Prime Minister Office.
NAC has suggested the government to grant a legal entitlement to subsidised foodgrains to at least 75 per cent of the country''s population under the proposed Bill through a reformed PDS system from the next financial year.
At present, the government provides cheap foodgrains to 18.04 crore families, which includes 6.52 BPL families and 11.5 APL families, under the Public Distribution System (PDS).
Off take under the PDS in the last fiscal was 42.4 million tonnes.
2G scam: CBI submits status report in Supreme Court
The Central Bureau of Investigation (CBI) on Monday submitted its status report in the 2G spectrum scam to the Supreme Court.The apex court will hear the case on Tuesday.
In the last hearing, the Supreme Court slammed the CBI, asking it why it had take more than a year to investigate the matter.
The report may give details about the materials they have examined, the calls intercepted and also over eight thousand documents that were examined.
The apex court, earlier on November 25, had castigated the CBI on why it had not questioned Raja and the Telecom Secretary in the case, saying the agency was "beating around the bush" when "illegality is prima facie evident."
The Comptroller and Auditor General (CAG) report is replete with remarks about direct involvement of Raja in the irregularities," observed the Supreme Court bench.
A report tabled in the Parliament recently held Raja responsible for causing losses estimated at rupees 1.76 trillion to the exchequer in the 2G telecom spectrum allotments by favouring some operators and not resorting to auction.
The report further states that Raja had no apparent logical or valid reason to ignore the advice of the Law and Finance Ministries while allocating telecom spectrum to several firms in 2007-08.
Sukhbir Badal urges PM to take up turban ban with Sarkozy
Punjab Deputy Chief Minister and Shiromani Akali Dal president Sukhbir Singh Badal Saturday urged Prime Minister Manmohan Singh to take up with visiting French President Nicolas Sarkozy the issue of the ban on wearing turbans in French schools and get it lifted.In a letter to the Prime Minster, Badal said that it was surprising that such 'discriminatory rules and laws should exist in a country like France which has been the torch-bearer of freedom of conscience as well as of liberal and democratic ethos to large parts of world'.
'These laws give the misleading impression that the government of the Republic of France is either unaware of or callous towards not only the sacred tenets and practices of the Sikh faith but also the proud liberal legacy and history of their own great nation,' Badal added.
The French government had imposed a complete ban on wearing of turbans, along with any other religious headgear by students to schools in that country.
The Sikh community, across the globe and particularly in Punjab, where it lives in majority, had strongly opposed the ban on turbans saying that the turban was a unique part of Sikh identity.
Badal said: 'The turban is not just a symbol of cultural faith for the Sikhs but is an inalienable part of the Sikh identity as ordained by our Gurus.'
Asking the prime minister to impress upon the visiting dignitary the need to distinguish between the ordinary rituals of a religion and inalienable practices of any religion, Badal regretted that the Indian government 'had not taken up the matter with the French government properly'.
On 26th anniversary, govt seeks Rs 7,700 cr for Bhopal victims
The government on Friday moved the Supreme Court seeking the enhancement of compensation from Rs 750 crore to Rs 7,700 crore for the victims of the 1984 Bhopal gas tragedy in which more than 5,000 people were killed due to the leakage of poisonous gas from the Union Carbide factory.The filing of the curative petition coincided with the 26th anniversary of the tragedy in which the Ministry of Chemicals and Fertilizers has sought a re-examination of the apex court's February 14, 1989 judgement by which the compensation was fixed at 470 million dollars (Rs 750 crore) and the subsequent orders of February 15 and May 4 determining the mode of payment and settlement.
The apex court had also dismissed the petition to review its judgements and orders on October 3, 1991.
The petition filed by the Centre in the capacity of legal guardian of the victims of the world's largest industrial disaster has sought the payment of additional damages from Union Carbide Corporation (UCC), Dow Chemicals Company (which owns UCC since 2001), McLeod Russel India having 50.9 per cent share-holding of UCIL and UCIL, which is currently known as Eveready Industries Ltd.
The curative petition settled by Attorney General G E Vahanvati has contended that the figure of 470 million dollar was arrived by the apex court on "incorrect and wrong assumption of facts and data in the impugned judgements".
The Centre has submitted that the apex court in its 1989 judgement had observed that the settlement was based on certain 'assumptions of truth' and if the said the assumptions are unrelated to 'realities', then the 'element of justness' of the settlement would seriously be impaired and liberty was given to approach the court.
Maya's Noida park gets green go-ahead
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Express news service
Posted: Dec 03, 2010 at 1345 hrs ISTNew Delhi There was some reprieve for Uttar Pradesh Chief Minister Mayawati with the the Supreme Court Green Bench ruling that the controversial Noida park project site was not forest land and that construction could take place on it.
Green Bench of Chief Justice of India S H Kapadia and Justice Aftab Alam, however, said the 'pucca' construction and the
landscaping of the park should not exceed 25 per cent of the
site area. This is because it was concerned about the the well being of the adjacent Okhla bird sanctuary.
The apex court directed the state government to form an expert committee to monitor construction in the park. It also directed the amicus curiae and the SC appointed centrally empowered committee to file continuous reports on the data given to them by this committee.
3 DEC, 2010, 10.56AM IST, RATNA BHUSHAN,ET BUREAU
Dhoni in Rs 26crore deal with Vijay Mallya's UB Group
NEW DELHI: MS Dhoni is the new king of good times. The swashbuckling captain of the Indian cricket team has just signed the biggest endorsement deal for an Indian sportsperson — with Vijay Mallya's UB Group, valued at more than Rs 8 crore a year.Dhoni has signed a three-year endorsement deal with the country's largest spirit maker for Rs 25-26 crore, two officials in direct knowledge of the deal told ET.
"UB plans to activate the deal just before the Cricket World Cup kicks off in February," one of the officials said on condition of anonymity.
India is co-hosting the world cup along with Sri Lanka and Bangladesh, and corporates are scrambling to associate with the event as well as top Indian cricketers to make the most of the cricket craze in India.
The deal puts the Indian captain at par with Bollywood superstar Shah Rukh Khan in the endorsement space, just behind Aamir Khan, who early this year signed a record Rs 30-crore deal with telecom operator Etisalat.
Dhoni will be associated with McDowell's soda, the officials said. But it is an integrated deal that will go beyond brand endorsements , they added.
A UB Group spokeswoman said, "Yes, a deal has been signed between the UB group and the India captain MS Dhoni." She, however, refused to disclose financial or other details of the deal. A formal announcement by the UB group is expected in January .
The deal has been inked through the Arun Pandey-promoted talent management and entertainment firm Rhiti Sports Management, which recently signed a Rs 210-crore contract with Dhoni to manage all his endorsements , brand associations, patents and digital rights, images , visibility on social networking sites and merchandise for three years. Pandey could not be reached for comment.
Dhoni, who led India to victory in the 2007 World Twenty20 championship, was rated the world's highest paid cricketer by Forbes magazine last year ahead of master batsman Sachin Tendulkar . The Indian captain had earned $10 million last year.
Dhoni signed the deal with Rhiti Sports after calling for pitch from six talent management firms including IMG, Percept, PMG Sports, World Sport Group, Purple People and Planman Consulting.
Rhiti Sports, along with a joint venture with Mindscapes One, has offered a minimum guarantee of Rs 210 crore to the cricket captain in three years.
Experts in the talent management space believe this is achievable because, besides being immensely popular across the country and a huge success as Indian captain, Dhoni has an image of being a celebrity who is professional on the sets.
Before the UB deal, Dhoni's most expensive deal was with Reebok for close to Rs 29-30 crore for a 5-year period, which makes it about Rs 6 crore a year.
He is associated with 22 brands including footwear and apparel major Reebok, beverages and snacks company PepsiCo, real estate group Amrapali, telecom company Aircel and Future group's Big Bazaar retail chain.
He had been also associated with UB's rival spirits maker Pernod Ricard India (earlier Seagram ).
Cash condition may ease soon: Rangarajan
The persistent tight cash condition in India should ease soon as a large portion of government spending happens in the last quarter of the financial year ending March, said C Rangarajan, chairman of the Prime Minister's Economic Advisory Council, on the sidelines of a banking event."I do think that in the second half of the year, and particularly in the last quarter of the financial year, public spending increases and as a consequence the liquidity situation will ease," said Rangarajan.
Liquidity has tightened sharply in the Indian banking system since October on low government spending and large cash withdrawals from banks during the festive season.
On November 29, the Reserve Bank of India extended the second liquidity adjustment facilities that were ending on December 16 up to January 28.
The RBI also relaxed the statutory liquidity ratio (SLR) by 2 per cent compared with earlier relaxation of 1 per cent, to enable banks to borrow more from the repo auctions in light of the tight cash condition.
SLR is the minimum amount of bonds and other approved securities that banks have to maintain as a percentage of their deposits.
It has been reduced to 23 per cent from 25 per cent temporarily.
Rangarajan added that he does not expect the RBI to hike rates further given the downward trend to inflation.
"If this trend can persist then perhaps no further action may be required. We think that by end of December inflation should come down to 6.5 per cent," he said.
India's annual food inflation eased to its lowest level in 18 months in the year to November 20, pressed down by lower prices of potatoes, pulses and vegetables, in line with policymaker forecasts.
MPs, civil society members to break Kashmir ice
Srinagar, Dec 3 (IANS) A 10-member delegation of parliamentarians and civil society activists arrives here Friday to interact with separatists, locals, victims of the recent unrest, mainstream politicians and the youth to discuss ways to solve the Kashmir problem.The delegation includes Lok Janshakti Party (LJP) president Ram Vilas Paswan, Communist Party of India's (CPI) D. Raja, Communist Party of India-Marxist's (CPI-M) Gopal Choudhary, Telugu Desam Party's (TDP) Namo Nageshwar Rao, Janata Dal-Secular's Danish Ali and filmmaker Mahesh Bhatt as well as journalist Seema Mustafa.
The group is expected to call on hardline separatist leader Syed Ali Geelani, moderate Hurriyat leader Mirwaiz Umer Farooq, Democratic Freedom Party president Shabir Shah, Jammu and Kashmir Liberation Front (JKLF) chairman Muhammad Yasin Malik and mainstream People's Democratic Party (PDP) president Mehbooba Mufti.
The team will also meet relatives of the youth killed during the unrest that started June 11, local youths and representatives of the minority Pandits among others.
'We will build parliamentary and civil society pressure for taking steps needed for building a conducive atmosphere in the Valley,' Seema Mustafa told a local newspaper here.
She also said the appointment of non-political interlocutors by the central government was 'disappointing and the need of the hour is to involve those who can bridge the gap here'.
Business News
Bloomberg to build office near Bank of England - FT
Reuters - 08:10 PMGlobal news agency and media group Bloomberg has signed a deal to build a new European headquarters close to the Bank of England in the city of London, the Financial Times reported on Saturday.
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- BJP wants government to ratify UN convention against graft IANS - 07:40 PM
- Mahindra, Italian firm tie-up for farm equipment IANS - 07:37 PM
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View: Headlines Only | Include Summaries | Include Photos
General
Hooda for technological mission on farm mechanisationPTI -07:15 PM
Chandigarh, Dec 4 (PTI) Haryana Chief Minister Bhupinder Singh Hooda today said a Technological Mission on Farm Mechanization was the need of the hour to overcome productivity barriers and improve input-use efficiency.
Centre to consult states on sugar decontrol after Par sessionPTI - 06:28 PM
Chandigarh, Dec 04 (PTI) Government today said it will start the consultation process with states on the issue of decontrolling the sugar sector after the current Parliament session.
Mahindra ties up with Italian co for farm equipPTI - 06:15 PM
Chandigarh, Dec 4 (PTI) Agri machinery maker Mahindra & Mahindra today announced a tie-up with Italy based farm equipment company Maschio-Gaspardo S.p.A for getting supply of a complete range of rotary tillage equipment.
Conference on maritime sector from Dec 9 in MumbaiPTI - 06:14 PM
Mumbai, Dec 4 (PTI) At a time when the Indian shipping industry is gaining a long-awaited attention, a technical conference is being organised here from December 9 to provide a common platform to stakeholders to discuss affairs of the maritime sector.
4000 corrupt govt officials suspended, says Uttrakhand CMPTI - 04:23 PM
New Delhi, Dec 4 (PTI) Claiming that his government had a zero-tolerence policy towards corruption, Uttarakhand Chief Minister Ramesh Pokhriyal Nishank today said that the state administration had taken action against nearly 4000 officials.
India
Interaction between farm scientists, industry inadequate: HoodaIANS - 07:27 PM
Chandigarh, Dec 4 (IANS) The interaction between scientists of farming universities in India and industry is inadequate and their collaboration can help in faster economic growth, Haryana Chief Minister Bhupinder Singh Hooda said Saturday.
Sarkozy calls on India to back G20 agendaReuters - 07:26 PM
President Nicolas Sarkozy urged India on Saturday to support France's agenda of reforming the global monetary system during its presidency of the G20 and hinted a nuclear deal could be signed on his trip.
DGCA asks airlines to be reasonable, transparent on airfaresIANS - 07:21 PM
New Delhi/Bangalore, Dec 4 (IANS) Aviation regulator, Directorate General of Civil Aviation (DGCA) Saturday said the airline industry should be reasonable and transparent on the air fare pricing issue.
ICICI Bank hikes lending, deposit ratesIANS - 06:54 PM
Mumbai, Dec 4 (IANS) ICICI Bank, the country's largest private sector lender, said Saturday it will raise its lending as well as deposit rates by up to 50 basis points effective Dec 6 on the back of tightening monetary policy by the country's central bank.
Sarkozy wants more Indians to learn FrenchIANS - 06:47 PM
Bangalore, Dec 4 (IANS) French President Nicolas Sarkozy Saturday hoped that more and more Indians would learn to speak French and know about his country.
International
Spain declares emergency to beat off wildcat air strikeIANS -05:55 PM
Madrid, Dec 4 (DPA) The Spanish government Saturday decreed a state of emergency, in an attempt to force air controllers staging a wildcat work protest to return to work immediately.
Majority Chinese charities don't disclose financial dataIANS -12:38 PM
Beijing, Dec 4 (IANS) A majority of charity organisations in China - 75 percent - handling billions of yuan in donations, do not disclose their financial information, a media report said Saturday.
US adds less jobs in a sluggish economyIANS - 11:24 AM
Washington, Dec 4 (IANS) A sluggish US economy added just 39,000 jobs in November while the unemployment rate rose to 9.8 percent, tempering hopes of a quick recovery from its worse slowdown in decades.
Spanish military takes over air traffic control after strikeIANS -10:44 AM
Madrid, Dec 4 (IANS/EFE) Prime Minister Jose Luis Rodriguez Zapatero's government militarised the air traffic control system following Friday's wildcat strike by controllers that virtually shut down Spain's airspace.
U.N. body seeks delay to CO2 market appeals - reportReuters - 08:42 AM
Countries at U.N. talks in Mexico sought on Friday to delay the launch of an appeals body for participants in a $20 billion trade in carbon offsets, Point Carbon, a specialist carbon markets company owned by Thomson Reuters, reported.
Personal-Finance
Wall Street ends week up despite unemployment rate increaseIANS - 05:21 AM
New York, Dec 4 (DPA) US stocks produced gains Friday, ending the week in the black, despite an increase in the jobless rate that had pushed shares down earlier in the day.
US, South Korea reach tentative deal on free-trade agreementIANS - 05:17 AM
Washington, Dec 4 (DPA) The US and South Korea Friday reached a tentative deal on a long-stalled free-trade agreement, according to the top US trade official.
US unemployment climbs to 9.8 percentIANS - 02:10 AM
Washington, Dec 4 (DPA) The US unemployment rate climbed to 9.8 percent in November, the Labour Department reported Friday, sharply denting hopes that the labour market was beginning to recover after months of stagnation.
Four-day rally cut short, Sensex ends below 20,000 pointsIANS -Fri, Dec 3
Mumbai, Dec 3 (IANS) A benchmark index of Indian equities market Friday ended on a lacklustre note as consolidation set in after four consecutive days of gains.
Sensex crosses 20,000 mark in morning tradeIANS - Fri, Dec 3
Mumbai, Dec 3 (IANS) A benchmark index of Indian equities Friday was ruling moderately higher, having breached the 20,000 mark on opening.
Markets
India's IIFCL to issue $267.7 mln tax-free bondsReuters - 12:43 PM
India's top state-run infrastructure company IIFCL will issue 12 billion rupees ($267.67 million) worth of tax-free bonds for retail investors in the last three months of the current fiscal year ending in March, a top official said on Saturday.
Spaniards bridge crisis with long weekend splurgeReuters - 12:38 PM
There may be a gulf between their incomings and outgoings and a debt crisis sweeping through Europe, but that won't stop Spaniards from making the most of the "puente" this long pre-Christmas holiday weekend.
U.S., South Korea welcome long-awaited trade dealReuters - 10:13 AM
The United States and South Korea welcomed a free trade deal reached after a three-year delay which U.S. President Barack Obama said would boost exports to South Korea by $11 billion and support at least 70,000 American jobs.
S.Korea, US agree on auto deal to save trade pactReuters - 03:58 AM
The United States and South Korea have reached a deal on auto issues that have blocked congressional approval of a free trade agreement for three years, sources familiar with the talks said on Friday.
Sarkozy game for India's civil nuclear programme, UNSC seat
Bangalore: French President Nicolas Sarkozy on Saturday expressed his country's full support to development of India's civil nuclear programme but felt access to this industry was "restricted".Soon after he arrived here on a four-day visit, Sarkozy also backed India's entry into Nuclear Suppliers Group (NSG) and its case for a permanent membership of the expanded United Nations Security Council, saying it was "unthinkable" to keep a country of over one billion out.
"France is a friend of India. It will stand with it in its efforts in developing non-polluting energy and nuclear industry," the French President said addressing scientists at the Indian Space Research Organisation (ISRO). "We need to put an end to nuclear isolation of India. It was injustice done to India challenging your right to access to civil nuclear energy," Sarkozy, who is on his second visit to India, said.
India is now going to be a full-fledged member of the multilateral groups overseeing non-proliferation regimes, he said adding France would support India's application for candidacy of NSG. Sarkozy noted with "delight" that a French company Areva would be setting up nuclear plant at Jaitapur in Maharashtra that would go on to produce 10,000 MWe of "non-polluting" energy.
He, however, noted there was certain "inconsistency" in India's approach as while it wanted development of clean energy on one hand, at the same time "restricting access". "We cannot force upon India obligations without giving it the means to meet the obligations," he said.
Speaking of France's relationship with India, Sarkozy said that his country has been a good friend of India. "We don't speak in two languages. We mean what we say." Condemning the 26/11 attacks, he said any such strike on India was an attack on democracy and all democracies stand by India. "When India is attacked, it is democracy attacked," he said.
He observed that terrorism emanating from Pakistan and Afghanistan is a "major source of instability" in the world. Talking about Afghanistan, he praised India's role and said the world cannot afford to lose the war against Taliban.
"We cannot afford to allow Taliban to comeback. No one stand benefited if civil war raises its ugly head...we must succeed," he said. Noting that one cannot stand still if India wants to move ahead in 21st century, he said, "India, Brazil, Germany, Japan, some representatives of Africa and Arab world must be in UN Security Council."
Sarkozy showered praise on Prime Minister Manmohan Singh saying the Indian leader was obsessed with peace through development and eradication of poverty. "I have great admiration for Prime Minister Singh. I value his friendship. He is right in believing in peace and stability. India's challenge is that if you succeed through peace, it will have a huge knock-out effect on the world," he said.
India and France are united by common values and believe that international relations should not be governed by brutality or force and it should be based on dialogue and rule of law, Sarkozy said adding the relationship between the two countries should go much further.
Appreciating India's growth, he said its voice has to be heard in the global level. "We need India to regulate the world monetary order. I believe Indian currency will be counted as one of major currencies," he said.
On education sector, Sarkozy said he expected a three-fold growth in the number of Indian students going to France. "We want to train young Indians in our universities and open our research facilities for them. I very much hope that the reverse will also be true," he said.
Source: Agencies
Expressindia » Story
I won't come to India ever: Musharraf
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Ruchika Talwar
Posted: Dec 03, 2010 at 0527 hrs IST
New Delhi "I don't plan to come to India ever again," says Pervez Musharraf.
The former Pakistan President and Army chief, who was denied a visa by the Indian government, says he doesn't believe it was because New Delhi believed he was the main person behind Kargil. He also asks why he was reassured time and again that he would get a visa before the denial came.
"I have no words to explain my disappointment," Musharraf told The Indian Express over the phone, from his home in Dubai. "Meri ummeedon pe paani fer diya aapki government nay (Your government has dashed my hopes)... I think it shows a lack of confidence on the part of India to face me."
Pointing out that he had met both former prime minister Atal Bihari Vajpayee and Manmohan Singh after Kargil, the former General said he didn't believe his role in the war prompted the move.
"I mean, that's a very silly reason... All this rapprochement that I initiated has been washed down the drain. Why was I allowed to come three times between Kargil and now if that is the case?"
He says he is yet to be communicated the official reason for the denial of the visa. "I think the denial has come from either India's Ministry of Interior (Home) or Foreign Ministry. If it is Interior, they were wary of the law and order situation, or my comments on terrorism, Kashmir perhaps. Or could it be what I said on Muslim extremism being on the rise in India? I frankly don't know."
Even his comments on India's role in Balochistan — another reason being cited — are not new, Musharraf says. "I have been saying this for quite some time. If you read WikiLeaks, you'll know... It's not based on hearsay. Nawab Akbar Bugti's grandson Brahamdagh Bugti is being supported by India, I've known that for years and I told Bush about it. I told Karzai about it. What's new now?"
He claims the denial of visa came as a total surprise. "I was relaxed all this while. I have been travelling the world the past few months and everywhere I went, I was assured by the local Indian diplomatic missions that the visa would be granted. They kept saying, "don't worry" in London, then in New York, Chicago, Toronto and even here in Dubai. But the manner in which they dragged it to the last day and then fell silent is absolutely shocking... This came as a shock even to the Indian High Commissioner here in Dubai."
The former Pakistani president also claims Delhi's decision is not what the people of India want. "It is not in line with the feeling of the people," he asserts.
Declaring that he would never come to India again, Musharraf says: "I believe in my honour and dignity. When Indian and Pakistani forces were eyeball-to-eyeball in 2002, I went to attend the SAARC Summit in Kathmandu, for which I was permitted to fly over the Indian airspace... I chose to route my plane via Beijing instead."
Investment banks woo global NRIs
Singapore Singapore-based private investment banks are wooing global Non-Resident Indians (NRIs), targeting billions of dollars of their wealth, as they gear to hire several Indian bankers to cater to their needs.
The Singapore market of 3 lakh NRIs is worth about USD 20 billion, reported The Straits Times today.
Barclays Wealth, RBS Coutts and Standard Chartered Private Bank (East) are eager to increase the share of managing the NRIs investments.
The number of banks wanting to cater to this segment is increasing with Singapore's DBS Private Bank having set up a dedicated team to manage the NRIs segment.
Almost all banks are on a hiring spree with some recruiting senior banking executives from India to gain a competitive edge in managing these cash-flush NRI accounts.
The NRIs market "is growing much faster than our talent pool," concedes Srinivas Siripuraopu, head of South East Asia and South Asia at Barclays Wealth.
Barclays Wealth has one of the biggest teams serving the high-net worth NRIs with 30 relationship managers, up from 20 within a year. Siripurapu is planning to recruit more executives from India.
Though these executives would take a longer time to adjust to a new country and culture, "but their familiarity with developments in the Indian economy more than makes up for the time taken to adjust," the Straits Times quoted Siripurapu as saying.
Ranjit Khanna, head of NRIs and South Asia at RBS Coutts, said: "the NRI high-net worth segment is estimated to be growing at eight to 10 times the average growth of wealthy individuals."
RBS Coutts aims to double its Singapore-based NRI team serving Asia and the Middle-East.
The Standard Chartered Private Bank's expansion of private bankers, investment advisers and support staff serving the global Indians "has kept pace with growth in assets under management as we continue to support this segment," said its head Rajesh Malkani.
The Standard Chartered Private Bank's Global Indian Programme managing the NRIs wealth has grown by 25 per cent since last year.
DBS Private Bank's DBS Treasures plans to increase headcount next year "to capture a greater market share in the affluent NRIs segment."
DBS Treasures serves clients with at least SGD 3,50,000 in investable account, which has grown by more than 5.5 per cent between January and September this year.
To attract the cash-rich NRIs, the banks hold lavish parties, dinners and concerts. For this year, DBS provided its clients with VIP tickets to Singapore concerts by Asha Bhosle, Jagjit Singh and Pankaj Udhas.
Expressindia » Story
Fiscal awareness deficit
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fe Bureau
Posted: Dec 04, 2010 at 2230 hrs IST
The low level of financial literacy prevalent in the country implies that most Indians, even among those who are financially well off, are not getting anywhere the kind of solutions that they should get. While this may be a dampener overall, here lies the opportunity for a first-generation entrepreneur to build a good sustainable business—a business that serves a strong social purpose, has an obvious latent demand, but requires guts and fortitude to stick it outThere are several financial intermediaries offering all kinds of services. Look around any given street in the major cities of the country and you would see their offices. One would assume, therefore, that the general population is aware of financial products and there is a thriving market. A closer examination reveals that financial illiteracy is widespread. What a paradox! The trouble is that the intermediaries tend to represent the manufacturers' interests and behave much like high-street hustlers trying to hawk products that enhance their returns and do not pay sufficient heed to consumers' interests. While this is a worrying fact, we believe that given the size of the market, the income levels and the latent needs, there is a real opportunity for entrepreneurs to work the reverse order—take the consumers' interest and get them the best deals in the market. It is obviously not going to be easy and is the proverbial road less taken.
Financial inclusion is a talked about topic today and rightly so, given the fact that a large proportion of the population does not have access to basic financial services. However, even among those who are considered financially included, there is a lot of exclusion because of various factors. We are talking about awareness and use of various financial products and services (insurance, investments). This lack of awareness has a serious impact on the economy, because the absence of awareness leads to unhealthy concentration of household investments in instruments such as real estate and land (which are easily understood).
An underdeveloped financial services industry has two components—first the reach itself and second the awareness.
Our research among urban respondents (SEC A and B) across over 400 towns reveals that both on the debt side and on the investment side, there is chronic under penetration.
Of course, one doesn't want people to go into debt. However, the lack of borrowing is not because people do not want to borrow for spending, it's more because they prefer to make informal borrowings, or in some cases they are borrowing to buy certain classes of assets in the parallel economy and are hence not eligible for institutional debt.
As many as 48% of those below the age of 30 years and 38% of those above 30 years have never taken any loan. Personal loan, which tend to be of smaller value and is also the costliest loan, has the highest penetration. These are usually unplanned loans to meet exigencies. The average value of personal loans tends to be of the order of Rs 1.2 lakh.
Insurance is an instrument to protect against unforeseen circumstances. As such, one would expect a population climbing the income ladder rapidly to worry about protecting the lifestyle of their near and dear ones. The truth, on the other hand, is that most people are under-insured and the awareness about term insurance is low.
We found that even among SEC A and B, the penetration of life insurance products is low. As many as 20% of those above 30 years of age have no life insurance cover.
The penetration of term insurance is very low, and only 5% of SEC A and B respondents have this cover. On the other hand, average life insurance cover is just about Rs 9.7 lakh, which clearly indicates that urban India is under-insured, not because it cannot afford to be insured, but because it is not fully aware of the ways in which it can get such protection. Clearly, insurance covers are being taken just for tax rebate purposes and not for life cover.
Insurance as a product is not understood by a vast number of people, and only a small proportion has taken adequate protection.
It is alarming that as many as 58% of households do not have any health insurance cover. Clearly, people are so unaware that there is a time bomb ticking away, ready to explode at unexpected moments in life. It is also worrying that even older respondents seem to have the same level of awareness as the younger respondents.
Frequently, the cover is also not well thought out, and the average cover for hospitalisation is inadequate should an insured person actually fall sick and is hospitalised.
The scenario is not significantly different when one looks at investment instruments. The modern financial system provides for several different instruments for different risk profiles under excellent regulation. However, one finds that once again, the awareness level is pretty low.
We find that whereas there are significant investors in real estate (which is easily understood, but is highly leveraged), fixed deposits and PF (which is usually compulsory), the penetration of instruments such as shares, company debt, etc, is very low. On the other hand, investment in gold has high penetration (in physical form). Incredibly, something like post office deposits has much penetration as investment in shares.
Mutual funds is another instrument not clearly understood by investors. Many investors believe that it is supposed to be used for tax saving purposes only! Very few invest in debt funds, which is far more liquid than fixed deposits. To cut a long story short, despite the availability of many different options, investors, due lack of awareness, do not use them. Instead, they go for less efficient investments, or worse, no investment at all.
Most Indians prefer keeping their savings in assets like bank or post office deposits and cash at home. Their longer-term investments tend to be in physical assets like real estate and gold and very few utilise financial instruments. Ironically, the latter option is probably the most efficient and rewarding.
Take the case of reverse mortgage, which has been introduced for senior citizens recently. The awareness levels are very low, even at the banks that are offering it. What happens here is that the borrower pledges the home to the bank and gets a loan.
The homeowner and now the borrower will not be required to repay the loan during his/her lifetime. On death or leaving the house permanently, the loan, along with the accumulated interest, is repaid through the sale of the property pledged. The heirs can pay off the loan and take the property. Since the property in general appreciates significantly, the heirs are still benefiting from the capital gains.
When one looks at several old couples living alone (children away or abroad), one would think that a scheme like this is a no-brainer. It gives them extra income for the rest of their lives and the property price gains can easily be secured by the heirs. Yet, one finds that there is very little awareness.
On an average, Indian households invest their savings in bank deposits. This can work wonders if it gets directed to market-linked instruments. The stumbling blocks are two—financial inclusion itself and financial literacy, or the lack of it, among those who are financially included.
On the financial literacy front, we know that market participants and the regulators have been trying hard, particularly during the past four-five years, to deliver programmes targeting enhancement in financial literacy. Perhaps, more can be done, but the task is truly daunting, and it is not very clear that mere efforts will get faster adoption. It is here that one suspects there is an opportunity for entrepreneurs who are willing to invest two-three years to really educate the market and build a profitable scalable business.
Perhaps many are already working on it and we will hear of success stories in a few years. What they need to do is to build a financial services intermediaries business, which focuses on educating prospects and delivering solutions to them. It needs to have a significantly higher element of education and service than the high street hustling models that many brokerages and agents follow. Therefore, it will necessarily involve a higher gestation period and staying power. Few will have the fortitude, but for those who do have it in them to stick it out, the rewards are bound to be exceptional.
http://www.expressindia.com/latest-news/Fiscal-awareness-deficit/720105/
DEC, 2010, 06.40AM IST, AMITI SEN,ET BUREAU
SEZ cos seek time from panel to explain DTC stand
NEW DELHI: SEZ developers and units have asked the committee of parliamentarians examining the provisions of the proposed direct taxes code (DTC) for a personal hearing in a bid to better explain their position for relaxation of some of the proposed tax laws.The umbrella body of developers and units, which has been asked by the Parliamentary committee for its views, has also sought legal opinion to make its case tight.
"We have sought a personal hearing from the committee. Let us hope we get it," export promotion council for EoUs and SEZs (EPCES ) founder member RK Sonthalia told ET.
The proposed DTC , which seeks to streamline the existing tax structure, has suggested imposition of a minimum alternate tax (MAT) of 20% on units and linking incometax exemption to investments made rather than profits earned.
The EPCES, that has taken inputs from the commerce department for its memorandum, has argued against imposition of MAT and has asked for more time for a switchover to the new tax regime for SEZ units.
"Our views will be reflected in the report of the export council as we may not be separately asked for it," a commerce department official told ET.
Fiscal deficit down 33.76% at Rs 1.62 lakh cr in Apr-Oct
The Centre's fiscal deficit narrowed by 33.76 per cent year-on-year to Rs 1.62 lakh crore in April-October, 2010, on the back of better-than-expected revenue from the sale of spectrum and robust tax collections.
In comparison, the Centre's fiscal deficit stood at Rs 2.45 lakh crore in the corresponding period of the previous financial year.
The government collected Rs 2.71 lakh crore in taxes during the seven-month period, which was 50.9 per cent of the Budget target for the entire fiscal. In comparison, tax collections during the same period last fiscal only amounted to 45.1 per cent of the whole-year target.
Non-tax revenue in April-October, 2010, stood at Rs 1.48 lakh crore, higher than the Budget estimate for the entire fiscal, primarily because of higher realisation from the auction of spectrum, which raked in approximately Rs 70,000 crore more than the government estimated.
However, expenditure also rose by 15 per cent during the period to Rs 6.17 lakh crore from over Rs 5.36 lakh crore in the year-ago period.
At Rs 1.62 lakh crore, the fiscal deficit in April- October, 2010, amounted to 42.6 per cent of the Budget estimate of Rs 3.81 lakh crore for the entire 2010-11, according to data released by the Controller General of Accounts.
This time last year, the fiscal deficit was 61.1 per cent of the Budget estimate for the entire 2009-10 financial year.
Fiscal deficit targets went awry after the government provided a stimulus to the economy in the aftermath of the global financial crisis that broke out in 2008. Among the measures, the government slashed taxes and stepped up public expenditure to spur growth of the economy. However, this also led to widening of the fiscal deficit.
As a result, the fiscal deficit doubled to over 6 per cent in 2008-09, as against the maximum permissible limit of 3 per cent stipulated by the Fiscal Responsibility and Budget Management Act. The deficit rose further to over 6.5 per cent last fiscal.
After the government partially rolled back the stimulus by raising excise duty, the Budget estimates pegged the fiscal deficit at 5.5 per cent of GDP.
However, despite higher realisation from the sale of spectrum for high-speed telephony and broadband services, the government expects the fiscal deficit to be contained at the same level as its Budget estimates or marginally lower.
"I feel that fiscal deficit target that we have set for ourselves of 5.5 per cent, I expect that target to be met and maybe for us to do a little better than that. So we are on track on our fiscal policy," Chief Economic Advisor Kaushik Basu told reporters.
This is because the government has also stepped expenditure. In the first supplementary demand for grants, it got parliamentary sanction for spending an additional Rs 54,000 crore over the Budget estimate.
It had also sought separate approval for additional expenditure of another Rs 20,000 crore, which would drain out all the extra money garnered from the spectrum auction.
RBI action to inject liquidity in the system: Finmin
The Finance Ministry on Tuesday said RBI action to allow banks to borrow more funds from it would inject liquidity into the system that is facing a cash crunch due to a slew of IPOs and busy credit season.
"They have taken some action yesterday and that would put money in the system and (RBI) would keep doing it as and when necessary," Finance Secretary Ashok Chawla said.
He was speaking to reporters on the sidelines of a function organised by the Finance Ministry and think tank NIPFP.
RBI yesterday allowed banks to borrow funds from it, even if they miss mandatory requirement to keep 25 per cent of their deposits in government bonds by 2 per cent.
For this purpose, RBI will continue to conduct special Liquidity Adjustment Facility.
RBI lends and borrows money from banks against government securities under this facility.
RBI announced these measures on fears of tightening of liquidity in the coming weeks due to expected pick up in credit offtake and lining up of IPOs.
While manganese ore company MOIL's IPO is open for subscription, Shipping Corporation's FPO will open tomorrow. Both IPOs are expected to raise around Rs 1,200 crore each.
Around Rs 22,000 crore has been mopped up from public offers of state-run companies so far this year.
The tight cash position in the system can be gauged from the fact that banks have borrowed over Rs 1 lakh crore through the liquidity adjustment facility of the RBI since November 8.
Prime Minister's Economic Advisory Council Chairman C Rangarajan said,"Banks have been borrowing from the RBI continously. It indicates there is a need for liquidity and that is why they (RBI) has decided to take some action."
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| 4 Dec 2010, 20:22 Truckers call off strike, toll tax for com Vehicles slashed The nation wide truckers strike from tomorrow has been called off after the government slashed the toll tax by nearly 30 per cent for commercial vehicles. 4 Dec 2010, 19:58 Oppn's role in 2G Spectrum issue unfortunate, says Sharma Union Minister Anand Sharma today termed as unfortunate the Opposition's disruption of Parliament proceedings on the alleged 2-G Spectrum scam.
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Patel promises action on high airfares within 7 days
In a firm message to airlines insisting on massive fare hikes, government today promised "corrective action" within a week even as DGCA met representatives of low cost airlines and asked them to show some reasonableness in ticket pricing. "I am sure that within a week you will find corrective action being taken," Patel told reporters in Mumbai.In case the airlines fail to take remedial action , the Directorate General of Civil Aviation (DGCA) was empowered to take decisions that would benefit air travellers. "The regulator is not helpless.
It should not be presumed that the regulator cannot take action. I am sure they can and they will when the situation warrants," the Minister said.
Patel had earlier said that neither exorbitant fares nor "predatory fares" (deliberate lowering of ticket prices below the actual costs to out compete other airlines) would not be allowed. In Delhi, Top executives of three low cost airlines -- Spicejet, Indigo and GoAir -- were called for discussions on the issue by Director General of Civil Aviation E K Bharat Bhushan.
"The whole purpose is to ensure that there is some reasonableness about the fares," Bhushan, who was appointed to the post only yesterday, told reporters after the meeting. He said he has called representatives of full service airlines -- Air India, Jet Airways and Kingfisher Airlines -- for discussions on Monday.
The airlines'' proposal of kilometre-based fare slabs was rejected earlier this week by the Civil Aviation Ministry which maintained there was "no justification" for fare hike in an "arbitrary manner". As per the proposals, the airfares were quoted by the airlines for four distance slabs of less than 750 km, 750- 1,000 km, 1,000-1,400 km and beyond 1,400 km.
Under it, a passenger buying an economy class ticket closer to the travel date may have to shell out Rs 10,500 for a Delhi-Chandigarh or Chennai-Coimbatore flight and anything upto Rs 40,000 on the Delhi-Bangalore or Delhi-Kolkata route. The airlines have ''bucket fares'' which mean there are certain number seats reserved in each flight at low fares that can be booked much in advance.
As soon as these number of seats are filled, the fares grow progressively to a higher bucket closer to the date of travel "We have told them we want some predictability and fairness in the fares which they charge, which we are trying to enforce," Bhushan said. .
CBI raids premises of OC officials Bhanot, Verma
The Central Bureau of Investigation (CBI) Tuesday raided the homes and offices of Commonwealth Games Organising Committee (OC) Secretary General Lalit Bhanot and Director General V.K. Verma.The raids against the two top aides of OC Chairman Suresh Kalmadi are on at 11 places in various parts of the capital, a top source in the CBI told IANS. Further details are awaited.
The Enforcement Directorate (ED) last month questioned Verma for his alleged role in the financial irregularities in the Queen's Baton Relay in London in 2009.
Three other aides of Kalmadi -- T.S. Darbari, Sanjay Mohindroo and M. Jayachandran -- are already under custody for their alleged involvement in the Queen's Baton Relay scam.
The OC is understood to have paid AM Films - a sister concern of AM Car - over 450,000 pounds for services during the Queen's Baton Relay function in London in October 2009 without following proper tendering procedures and paper work.
Kalmadi had Monday claimed he had not committed any offence and was ready to answer all CBI questions.
'I welcome the investigations (into the financial irregularities in the Commonwealth Games). I will give a statement in parliament and I have met Lok Sabha Speaker Meira Kumar and she said whenever the house runs I can make the statement,' Kalmadi said.
Jharkhand panchayat polls: 3,000 backed by Maoists win unopposed
The Maoists might not believe in the democratic process but close to 3,000 candidates supported by them - many of them their wives or kin - have been elected unopposed in the ongoing Jharkhand panchayat polls, sources said.Heartening though this might be for the Maoists, the rebels have been caught in an unenviable position. The polls have exposed their double-speak. On one hand they have called for a boycott of the polls and on the other hand their own relatives are contesting the elections. According to police sources, the rebels are forcing rival candidates to withdraw from the fray to help their relatives and friends win posts.
Take the example of Manju Devi, wife of jailed zonal commander Kuldeep Ganju. She is fighting for the panchayat chief's post at Hurnali of Palamau district. In the same district, Raj Kumari is contesting for the panchayat chief's post from Ichak. She is the wife of Dilchand Ganju, commander of Tritiya Prastuti Committee (TPC).
There are also examples of relatives, particularly wives, of the Left-wing ultras being elected unopposed in the current panchayat polls. In Lawalong block of Chatra district, Mamta Devi, Neelam Devi Hedum, Ramkali Devi and others have been elected panchayat chiefs unopposed. All of them are married to Maoist guerrillas.
Due to Maoist threat, more than 3,000 candidates have been elected unopposed for different posts in the state. According to police sources, majority of these candidates have the support of the rebels.
Even political parties do not have any objection over this trend. 'The motive behind panchayat polls is to strengthen the grass-root level democracy. We should appreciate if Maoists are ready to join the mainstream of the society by reposing faith in the democratic system,' Ramesh Puskar, a Bharatiya Janata Party leader, told IANS.
Jharkhand is holding its first panchayat polls after it was carved from Bihar in 2000. The five-phase panchayat polls began Nov 27.
The last panchayat polls took place in 1979 when Jharkhand was part of Bihar. The polls were delayed in Jharkhand due to legal battle over reservations fro tribal people in the scheduled areas, notified tribal areas.
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The Hindu - Oneindia - Pakistan Ledger - Fox News (blog)
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Sydney Morning Herald
WikiLeaks to publish files on aliens, UFOs
Economic Times - 4 hours ago
LONDON: WikiLeaks will publish more secret US diplomatic files relating to aliens and unidentified flying objects (UFOs), said the founder of the whistleblower website Julian Assange and claimed his life was at risk after the recent expose.
Video: Legal Analyst: The Future for WikiLeaks Founder The Associated Press
US and WikiLeaks wage Cyber wars Times of India
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