State can't arm people to fight Naxals!Supreme Court stops Chhattisgarh from using tribals in Salwa Judum! FII FDI Raj Empowers the Zionist Brahaminical Hegemony asOverseas investors pumped nearly Rs 17,000 crore into the Indian market, including stocks and bonds, in the first six months of 2011 and analysts feel the positive trend will continue in the coming months as well. India Inc raised Rs 4,781.1 cr in May via IPOs, rights issues!The possibility of a significant moderation in global crude oil prices in the near term is low and not completely passing them through to Indian consumers could eventually be inflationary, Finance Minister Pranab Mukherjee said.Meanwhile, Political Drama gets momentum as Rahul Gandhi continues his march, govt hardens its stance!Pro Reliance Oil War in India intensifies on the Other end as the 74-year old Union minister for corporate affairs Murli Deora wants to opt out of the ministry and wishes that his son Milind, the Congress MP from South Mumbai is inducted as a minister of state.Deora is Famous for his relations with Reliance!
Indian Holocaust My Father`s Life and Time - SIX HUNDRED SEVENTY SIX
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
http://basantipurtimes.blogspot.com/
Rahul's Padayatra: In pictures
Gandhi scion and AICC General Secretary Rahul Gandhi on Tuesday undertook a Padyatra from Bhatta Parsaul village near Greater Noida to Aligarh's Nagla Bhitouna Village. Huge crowds assembled to catch a glimpse of Rahul as he interacted with villagers about the land acquisition problems. We bring you the images from UP.
Greater Noida: Congress General Secretary Rahul Gandhi during his protest march against the Mayawati government from Bhatta Parsual to Aligarh, in Greater Noida on Tuesday.
The Supreme Court on Wednesday disapproved the idea of arming local people to counter the Maoists and sought an explanation from the Chhattisgarh Government for creating an anti- Naxal armed group of special police officers -- Koya Commandos.
"What is this Koya Commandos? How are they appointed and how are they given training etc? It is very dangerous.., giving them arms to fight," a bench comprising justices B Sudershan Reddy and S S Nijjar said.
The bench directed the state government to file an affidavit on the raising of Koya Commandos and also state under what rule they were being supplied arms and ammunition. It posted the matter for further hearing on April 15.
"The affidavit will tell under which rule the Koya Commandos are appointed and under which rule they are given arms and ammunition? We must know it," the bench said, while making it clear that the affidavit has to be filed by a senior officer.
The special police officers have been given the name Koya Commandos after a tribe in the Dantewada region.
It was not for the first time that the apex court has expressed its concern over the creation of armed anti-Naxalite group. In February 2009 also it had questioned how the government could arm common people or those associated with Salwa Judum, a people's movement to combat the Maoists in Chhatisgarh.
The court had said the state should not arm common people and encourage them to fight Naxalites as "it will create a dangerous situation".
However, the Chhattisgarh Government has maintained that Salwa Judum was a dying movement and it was not giving any encouragement to it.
The court passed the order while hearing a petition against the existence of Salwa Judum in Naxal-infested regions of the state to fight the Maoists.
The petition had been filed by sociologist Nandini Sundar, historian Ramchandra Guha, former bureaucrat E A S Sarma and others seeking a direction to the state government to refrain from allegedly supporting Salwa Judum.
During the hearing, Swami Agnivesh informed the court about last month's incident when he was attacked by a group of people -- allegedly consisting of SPOs and Salwa Judum volunteers-- when he was visiting a Naxal region near Dantewada with activists of the Art of Living of Sri Sri Ravi Shankar.
The Chhattisgarh government informed the bench that it has already ordered an inquiry by the district and sessions judge, Bastar, into the incident and the notification in this regard was issued yesterday.
Senior advocate Harish Salve, appearing for the state government, however, sought liberty from the court to persuade Chief Minister Raman Singh to order an inquiry by a Chhattisgarh High Court judge
Indian Holocaust My Father`s Life and Time - SIX HUNDRED SEVENTY SIX
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
http://basantipurtimes.blogspot.com/
Rahul's Padayatra: In pictures
Gandhi scion and AICC General Secretary Rahul Gandhi on Tuesday undertook a Padyatra from Bhatta Parsaul village near Greater Noida to Aligarh's Nagla Bhitouna Village. Huge crowds assembled to catch a glimpse of Rahul as he interacted with villagers about the land acquisition problems. We bring you the images from UP.
Greater Noida: Congress General Secretary Rahul Gandhi during his protest march against the Mayawati government from Bhatta Parsual to Aligarh, in Greater Noida on Tuesday.
The Supreme Court on Wednesday disapproved the idea of arming local people to counter the Maoists and sought an explanation from the Chhattisgarh Government for creating an anti- Naxal armed group of special police officers -- Koya Commandos.
"What is this Koya Commandos? How are they appointed and how are they given training etc? It is very dangerous.., giving them arms to fight," a bench comprising justices B Sudershan Reddy and S S Nijjar said.
The bench directed the state government to file an affidavit on the raising of Koya Commandos and also state under what rule they were being supplied arms and ammunition. It posted the matter for further hearing on April 15.
"The affidavit will tell under which rule the Koya Commandos are appointed and under which rule they are given arms and ammunition? We must know it," the bench said, while making it clear that the affidavit has to be filed by a senior officer.
The special police officers have been given the name Koya Commandos after a tribe in the Dantewada region.
It was not for the first time that the apex court has expressed its concern over the creation of armed anti-Naxalite group. In February 2009 also it had questioned how the government could arm common people or those associated with Salwa Judum, a people's movement to combat the Maoists in Chhatisgarh.
The court had said the state should not arm common people and encourage them to fight Naxalites as "it will create a dangerous situation".
However, the Chhattisgarh Government has maintained that Salwa Judum was a dying movement and it was not giving any encouragement to it.
The court passed the order while hearing a petition against the existence of Salwa Judum in Naxal-infested regions of the state to fight the Maoists.
The petition had been filed by sociologist Nandini Sundar, historian Ramchandra Guha, former bureaucrat E A S Sarma and others seeking a direction to the state government to refrain from allegedly supporting Salwa Judum.
During the hearing, Swami Agnivesh informed the court about last month's incident when he was attacked by a group of people -- allegedly consisting of SPOs and Salwa Judum volunteers-- when he was visiting a Naxal region near Dantewada with activists of the Art of Living of Sri Sri Ravi Shankar.
The Chhattisgarh government informed the bench that it has already ordered an inquiry by the district and sessions judge, Bastar, into the incident and the notification in this regard was issued yesterday.
Senior advocate Harish Salve, appearing for the state government, however, sought liberty from the court to persuade Chief Minister Raman Singh to order an inquiry by a Chhattisgarh High Court judge
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Salwa Judum - Wikipedia, the free encyclopedia
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en.wikipedia.org/wiki/Salwa_Judum - Cached
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Salwa Judum (meaning "Peace March" in Gondi language) is an anti-Naxalite movement in Chhattisgarh, India, which started in 2005 as a people's resistance ...
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History - Development of Special Police ... - Controversy -Effects
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What is Salwa Judum? « Campaign for Peace and Justice in Chhattisgarh
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cpjc.wordpress.com/what-is-salwa-judum/ - Cached
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However the fact is that the Salwa Judum is being actively supported by the Chhattisgarh Government. Far from being a peaceful campaign, Salwa Judum ...
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Salwa judum is unconstitutional: Supreme Court - India News - IBNLive
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ibnlive.in.com/news/salwa-judum-is...supreme.../165150-3.html- Cached
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6 Jul 2011 – In a judgmenet that could change the face of anti-Naxal operations, the Supreme Court has held that arming civilians to take on Naxals is ...
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'Salwa Judum' was a blot on the republic
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The Hindu
Deccan Chronicle - 32 minutes ago
The Supreme Court quite rightly declared illegal and unconstitutional the deployment of tribal youth to take on Maoists under the "Salwa Judum" programme in ...
Salwa Judum being used to torture, kill innocent tribals: CPI - IBNLive.com
CRPF panics after Supreme Court call to disband Salwa Judum - Daily News & Analysis
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Salwa Judum - menace or messiah? - Times Of India
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articles.timesofindia.indiatimes.com › Collections › Salwa Judum - Cached
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20 Mar 2010 – In 2005, when Chhattisgarh decided to arm the tribal population against Maoists, the Salwa Judum — 'peace march' in Gondi dialect — was born ...
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salwa judum: Latest News, Videos, Photos | Times of India
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See salwa judum Latest News, Photos, Biography, Videos and Wallpapers. salwa ...
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Salwa Judum: When state makes war on its own people
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www.pucl.org/Topics/Human-rights/2006/slawajudum.htm- Cached
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A report onn violations of people's rights during the Salwa Judum campaign in Dantewada, Chhitsgarh, April 2006 Since June 2005, Dantewada District ...
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SALWA JUDUM
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www.bannedthought.net/India/CPI-Maoist.../SalwaJudum-pamphlet.pdf
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File Format: PDF/Adobe Acrobat - Quick View
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written in a recent article: " Salwa Judum's overall aim is to relocate ... the Salwa Judum, backed by the local police, swept through Kotrapal ...
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What is Salwa Judum?
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www.otherindia.org/dev/index.php?option=com_content...- Cached
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14 May 2009 – Salwa Judum (literally "purification hunt") is a state sponsored counterinsurgency campaign started in Dantewada district of the Indian ...
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Salwa Judum | Free Binayak Sen Campaign
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www.binayaksen.net/topic/salwa-judum/ - Cached
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The Salwa Judum matter was heard in Court 9 of the Supreme Court today by Justice Sudershan Reddy and Justice SS Nijjar. This time all the main parties to ...
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Salwa Judum: Strategy that backfired
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www.rediff.com › India › News › Columnists - Cached
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19 Jun 2008 – What kind of strategy is it where you create 50000.
6 JUL, 2011, 02.38AM IST,ET BUREAU
Salwa Judum is unconstitutional, says SC
NEW DELHI: The Supreme Court has held that the arming of tribals to counter Maoists by the Chhattisgarh government is unconstitutional. It asked the state government and the Centre to desist from arming tribals in the name of special police officers, or SPOs, to counter the armed ultra left movement.
"This case represents a yawning gap between the promise of principled exercise of power in a constitutional democracy and the reality of the situation in Chhattisgarh, where the state of Chhattisgarh, claims that it has a constitutional sanction to perpetrate, indefinitely, a regime of gross violation of human rights in a manner, and by adopting the same modes, as done by Maoist/Naxalite extremists," said a bench comprising Justice B Sudershan Reddy and Justice SS Nijjar in its order on Tuesday.
The court criticised the governments for supporting and funding of SPOs under various titles like 'Koya Commandos' and Salwa Judum, an armed civilian vigilante group, whose numbers have gone up from 3,000 to 6,500 within a year. It also took strong exception to the alleged use of SPOs and members of Salwa Judum in the attack on Swami Agnivesh in March this year and ordered a CBI inquiry into the incident, dissatisfied with the probe by the Chhattisgarh Government.
Giving statistics about SPOs killed and injured during the anti-Naxal operations, the bench said: "It is also equally clear to us that in this policy, of using local youth, jointly devised by the Union and the states facing Maoist insurgency, as implemented in the State of Chhattisgarh, the young tribals have literally become canon fodder in the killing fields of Dantewada and other districts of Chhattisgarh."
While holding that the mandate of SPOs under the state law was to help people in situations arising out of natural or man-made disasters, and to assist other agencies in relief measures, the court said, "in the case of SPOs in Chhattisgarh, represent an extreme form of transgression of constitutional boundaries". The bench, which criticised both the state government and the Centre for compromising with educational qualification and training programme for the SPOs, said that all appropriate measures must be taken to prevent the operation of all such groups, including Salwa Judum and Koya Commandos.
The court directed the Chhattisgarh Government to immediately cease and desist from using SPOs in any manner aimed at controlling, countering, mitigating or eliminating Maoist/Naxalite activities in the state. Further, the bench directed the Centre "to cease and desist, forthwith, from using any of its funds in supporting, directly or indirectly the recruitment of SPOs for the purposes of engaging in any form of counterinsurgency activities against Maoist/Naxalite groups".
On Agnivesh attack, the court said: "We order the CBI to immediately take over the investigation of, and taking appropriate legal actions against all individuals responsible for the incidents of violence alleged to have occurred in March 2011, in the three villages, Morpalli, Tadmetla and Timmapuram, all located in the Dantewada District or its neighboring areas." It asked the CBI to submit its status report on the preliminary investigation within six weeks. The bench, which was critical of providing the young SPOs with firearms, directed the Chhattisgarh government to disarm them forthwith by recalling all firearms issued to SPOs. "The word firearm as used shall include any and all forms of guns, rifles, launchers etc. of whatever calibre," the bench said.
http://economictimes.indiatimes.com/news/politics/nation/salwa-judum-is-unconstitutional-says-sc/articleshow/9118738.cms
Supreme Court stops Chhattisgarh from using tribals in Salwa Judum!The Supreme Court has held that the arming of tribals to counter Maoists by the Chhattisgarh government is unconstitutional. It asked the state government and the Centre to desist from arming tribals in the name of special police officers, or SPOs, to counter the armed ultra left movement.The Supreme Court on Wednesday said the Centre and the Chhattisgarh government were "playing a dangerous game" by recruiting tribal youth as special police officers (SPOs) and arming them with sophisticated weapons to fight naxals.
FII FDI Raj Empowers the Zionist Brahaminical Hegemony asOverseas investors pumped nearly Rs 17,000 crore into the Indian market, including stocks and bonds, in the first six months of 2011 and analysts feel the positive trend will continue in the coming months as well. India Inc raised Rs 4,781.1 cr in May via IPOs, rights issues!The possibility of a significant moderation in global crude oil prices in the near term is low and not completely passing them through to Indian consumers could eventually be inflationary, Finance Minister Pranab Mukherjee said. Meanwhile, Political Drama gets momentum as Rahul Gandhi continues his march, govt hardens its stance!Pro Reliance Oil War in India intensifies on the Other end as the 74-year old Union minister for corporate affairs Murli Deora wants to opt out of the ministry and wishes that his son Milind, the Congress MP from South Mumbai is inducted as a minister of state.Deora is Famous for his relations with Reliance!
The Supreme Court on Tuesday slammed the Chhattisgarh government for using tribals as special police officers (SPOs) in its Salwa Judum counter-insurgency operation against the Maoists , saying this should immediately stop.
"Over 18 years of age, class five pass and two months training to become an SPO? Is that all that is required to handle sophisticated weapons? What is their accountability? You are playing a dangerous game. If these so-called SPOs turn against you, then God save the country," said a Bench of Justices B Sudershan Reddy and S S Nijjar.
Appearing for petitioner Nandini Sundar who wanted investigations into the alleged atrocities committed by vigilante groups like Salwa Judum and SPOs, senior advocate Ashok Desai said a proper probe into the attack on Swami Agnivesh is not being carried out by the state government.
Contesting his claim, state counsel Atul Jha said the police have already arrested seven accused and the eighth one -- T Vijay Naidu -- has been shot dead by naxalites.
The Raman Singh government filed an affidavit on SPOs and said they serve as an auxiliary force and force multiplier. "The institution of SPOs has passed the test of time in many states in India. In extraordinary conflict situations of Punjab, Jammu and Kashmir and the north-eastern states, SPOs have proved their role," it said.
The state needed 70 battalions of troops to fight the naxal menace. "At present the state has 24 Central Armed Police Force (CAPF) battalions, 6 India Reserve battalions and 10 state battalions. The shortage of 30 battalions is partially compensated by the SPOs. However their number had been kept to the minimum at 6,500 and they are recruited and deployed only in naxal-affected areas," it said.
It said SPOs are mainly appointed to strengthen security against naxal attack on relief camps. Since 2005, there had been 41 such attacks in Bijapur and Dantewada districts in which 47 persons were killed. SPOs, who serve as guides, spotters and translators for the central forces, are given arms only to act in self-defence, the state said.
An apex court bench of Justice B. Sudershan Reddy and Justice S.S Nijjar directed the Chhattisgarh government to immediately "cease and desist" from recruiting tribals as SPOs for Salwa Jadum.
The court said that the use of such ill-trained and unqualified tribals as SPOs was against the moral and constituional mandate of the government.
The court directed the Chhattisgarh government to recover all the firearms given to SPOs along with the ammunition. It directed the central government to ensure that its finances are not used for funding such illegal activities.
It also ordered a Central Bureau of Investigation (CBI) probe into an attack on social activist Swami Agnivesh in a tribal area of the state March 23, 2011.
The court order came in the wake of a petition by a Delhi University professor Nandini Sunder seeking a ban on Salwa Jadum activities and relief and rehabilitation of the internally displaced tribals.
Deora has said that he made the offer to step down from the ministry during a meeting with Congress president Sonia Gandhi. Party sources indicated that no decision has been taken so far, but also hinted that the elder Deora's exit from the ministry may not coincide with the induction of the younger one.
"This is not a case of a swap between the father and the son. If Milind has to be inducted then there are several other young MPs who are equally strong claimants for a ministerial berth," observed a senior Congress general secretary.
With Murli Deora's offer now in the public domain, there is yet another element to the pending ministerial reshuffle that has been promised by prime minister Manmohan Singh before the monsoon session of the parliament that begins on August 1.
Even without Deora's offer to quit the possibility of older ministers like SM Krishna, BK Handique, MS Gill being asked to step down to make way for younger talent has been discussed within the Congress.
Officials on Wednesday hinted Rahul Gandhi's Padyatra against forcible land acquisition in Uttar Pradesh could end in Aligarh due to Section 144 imposed in the district.
Yet, he will be allowed to hold the Congress-organised Kisan Mahapanchayat on April 9.
The district authorities prohibit any gathering of over four people under Section 144 of the Criminal Procedure Code.
THe is expected to arrive in Aligarh by Wednesday.
'The state government has allowed the Congress to hold only Kisan Mahapanchayat, permission has not been given for holding any event. Under such circumstances, Rahul Gandhi might not be allowed to carry forward his padyatra and hold informal meetings with the villagers,' a district administration official said.
Trying to drum up anti-Mayawati sentiments because of government's land acquisition policy, Gandhi launched his padyatra on Tuesday.
'We are waiting for the state government's instructions in this regard,' the official added.
Congress activists claim Section 144 was imposed ahead of Gandhi's arrival in Aligarh. Senior Superintendent of Police Satyendra Vir Singh claimed these orders were in place since June 12.
He said, 'We have already conveyed to him (Gandhi) that the permission is only for the Mahapanchayat and not for any other event.'
Congress Aligarh president Girwar Sharma said, 'The prohibitory orders have been imposed today just to keep Rahul Gandhi away from farmers of Aligarh.'' The state government is scared of the widespread support being extended to Rahul Gandhi from different walks of life,' he added.
The government should allow FDI in multi-brand retail sector as it will help the food processing industry in adopting new technologies and improving productivity, Assocham said on Wednesday.
The government last month raised fuel prices to keep its subsidy bill in check, triggering political protests. But, state-run oil companies are still expected to lose about 1.2 ($26.9 billion) trillion rupees in this fiscal year for selling fuel at subsidised rates.
As Rahul Gandhi continued his Kisan Padyatra for the second consecutive day on Tuesday, Uttar Pradesh's ruling Bahujan Samaj Party said his 'love' for farmers is merely a political drama in view of the upcoming assembly elections in the state.
"The love for farmers is nothing but a stunt and political drama being enacted by the Congress yuvraj before the assembly elections," the party said in a statement today.
The 41-year-old Congress general secretary is on a padayatra in Western Uttar Pradesh, a footmarch billed as a campaign against Chief Minister Mayawati ahead of the Congress' proposed 'kisan mahapanchayat' in Aligarh district on July 9.
The BSP said if Rahul is actually worried about the problems of farmers, he should try to ensure that the prices of diesel and fertilises are brought under control by the Congress-led government 'instead of enacting this drama in Uttar Pradesh in the name of farmers.'
It said had the Congress really been sensitive towards the plight of farmers during its 38-year rule in UP, their condition would have been different and the picture of the state would also have been entirely different.
'It is because of the anti-farmers' policies of the central government the farmers are today facing immense hardships,'the party said.
It said had the UPA government been sensitive it would not have hiked the prices of diesel which has a direct impact on the agriculture sector and farmers.
"The Congress leaders are indulging in such dramatics to divert attention of the common people from the charges of corruption being leveled on the UPA government."
"It is merely for remaining in the news that Congress yuvraj sometimes visits Bhatta Parsaul or wants to go to Aligarh," it said, adding that if he was so worried about farmers he would have also visited Congress-ruled states.
6 JUL, 2011, 07.36PM IST, MAN MOHAN RAI,ET BUREAU
Rahul Gandhi continues his march, govt hardens its stance
LUCKNOW: Keeping with his mass contact program Rahul Gandhi continued his foot march on the second day through villages of western Uttar Pradesh even as the Mayawati government which had feigned indifference earlier seemed to harden its stand on Wednesday.
The Home Secretary Deepak Kumar said that Rahul Gandhi's arrest would depend on how the situation evolves and if the local district administration deems fit. He said that it was for the Aligarh District Magistrate to decide whether the situation warranted the arrest of Rahul Gandhi for flouting the prohibitory Section 144 orders.
Rahul Gandhi who had arrived suddenly in Bhatta Parsaul on Tuesday to start his mass contact program proceeded towards Aligarh on Wednesday morning.
After walking about 25 kilometers Rahul Gandhi had spent the night at Rampur Bangar village on Tuesday night. He resumed his "kisan padyatra" on Wednesday morning and arriving at Shabota village in Guatam Buddh nagar district he said that Chief Minister Mayawati had failed to implement the new land policy in spirit and many farmers have been denied their rights.
As he proceeded closer to Aligarh heavy police force was deployed on the border of Gautam Buddh Nagar and Aligarh. With Aligarh district being under the prohibitory Section 144, the government looked prepared for restraining Rahul Gandhi. Aligarh SSP Satyendra Vir Singh said that Section 144 of CrPC was in place in Aligarh since June 12 and if Rahul Gandhi proceeds with a group of people it would be a violation of the rules.
Congress leaders aid that Rahul Gandhi was wlaking through the area peacefully and not inviting people to join him, so there was no violation of any law.
Rahul Gandhi spoke to villagers all along his route and said that massive amount of land was being acquired by the government and farmers were being given paltry compensation.
On Tuesday he had said that farmers were not again giving land for development but wanted compensation at market rates.
His march from Bhatta Parsaul to Agra along the Yamuna Expressway is to drum up support for the July 9 Kisan Maha panchayat rally in Aligarh. Rahul Gandhi's attack on the Mayawati government over land acquisition issues has seen Mayawati crying fould pointing out that the Congress led UPA government had fialed to bring in a new land acquisition policy despite being in power at the centre for long.
With the government hardening its stand Rahul Gandhi's arrest, like in Bhatta Parsaul during his earlier visit on May 11 could lead to escalation of political slugfest between the Congress and the ruling Bahujan Samaj Party.
http://economictimes.indiatimes.com/news/politics/nation/rahul-gandhi-continues-his-march-govt-hardens-its-stance/articleshow/9126830.cms
Between January and June this year, foreign institutional investors (FIIs) purchased equities and debt securities worth a gross amount of Rs 46,9511 crore. However, they also sold shares and bonds worth Rs 45,2731 crore in the same period, translating into a net investment of Rs 16,780 crore for the period, according to information available with market regulator Sebi.
Investors were more bullish on the debt market in the first six months of the year, making a net investment of Rs 9,948 crore during the period, while their investment in stocks stood at Rs 2,670.4 crore.
However, the scenario seems to be changing, as their focus shifted to equity investment in the first few days of trading in the second half of the year.
Foreign investors have poured Rs 8,947 crore into the stock market in the past one week and pulled out Rs 2,324 crore from the debt market in the same period.
"In the first six months, FIIs have not invested much in the Indian stock market because of soaring food prices and hardening of interest and instead preferred debt market, as it has given better returns to them," CNI Research Head Kishor Ostwal said.
Ostwal further said the situation has been improving in the last few trading sessions, as investors are again coming back to the equity market due to cooling inflation and a decline in crude oil prices.
Market experts believe that FIIs will bring more money in the coming six months. "In the long-term, FIIs will remain bullish on the Indian market. Moreover, in the next six months, the market will witness more inflows than the last six months," Geojit BNP Paribas Research Head Alex Mathews said.
He further said the government has increased the prices of diesel and LPG , which spells well for its reforms agenda.
In 2010, foreign investors purchased stocks and bonds worth Rs 10 lakh crore, a record high for a year. During the same period, FIIs sold shares and bonds worth Rs 7,80,000 crore, which translated into a record net investment of over Rs 1.75 lakh crore for the year.
The number of FIIs registered with Sebi marginally increased from 1,718 as on December 31, 2010, to 1,728 as of July this year. Besides, the number of registered sub-accounts has climbed from 5,503 in December 31, 2010, to 5,908 sub-accounts as of July, 2011.
"The outlook for crude oil prices in the near future is uncertain, given the geo-political situation in the Middle East and North Africa region. In any case, the likelihood of oil prices moderating significantly is low," Mukherjee said in a statement released by his office on Wednesday.
"Incomplete pass-through of higher crude prices will have an impact on aggregate demand through higher subsidy expenditure, which is expansionary and can add to inflationary pressure."
New Delhi has budgeted to spend 1.34 trillion rupees ($30.1 billion) on major subsidies including fuel and fertilizer in the current fiscal year to end-March, 2012. With oil prices showing little sign of moderation, the total spending is expected to be much higher than the budgeted levels.
India is likely to pay an additional around 300 billion rupees than budgeted in 2011/12 to state refiners as compensation towards selling fuel at subsidised rates, a senior government official with direct knowledge of the matter told Reuters on Wednesday.
Analysts say a higher subsidy bill could widen the government's fiscal deficit to over 5 percent of GDP, from 4.6 percent projected for 2011/12, and force it to resort to higher market borrowings.
"If we increase administered prices of petroleum products and reduce fertilizer subsidy, we allow room for some inflation," Mukherjee said.
"If we do not, then the consequent increase in the fiscal deficit will counter the moderating trend in aggregate demand and push inflation high anyhow."
India has been battling high inflation for the past two years. Even after 10 interest rate increases by the central bank, the headline inflation continues to be above 9 percent.
Analysts partially blame the government's loose fiscal policy in the aftermath of the global financial downturn for fuelling price pressures, which are also seen slowing down the economy by crimping demand and hurting investment.
"We believe that in the long run, high inflation is inimical to sustained growth as it harms investment by creating uncertainty," Mukherjee said.
Analysts expect another round of adjustment in domestic fuel prices to align them with global oil prices, which are hovering around $113 a barrel, even at the risk of aggravating inflation.
The Rs 5.45 lakh crore food processing industry is estimated to touch the level of Rs 8.73 lakh crore by 2014-15, the chamber said.
Despite high growth, the industry is still dominated by small scale and unorganised sector mainly involved in producing low value added products, it said.
Only 7 per cent of total agriculture produce is processed in India compared to 53 per cent in the US and 42 per cent in New Zealand, it said.
"The critical need of the hour is to improve technology and productivity in order to be competitive globally," it said adding, "the Indian market is increasingly becoming important for many multinational corporations like Wal-Mart, Pepsi, Cargill, Heinz and Kellogs which have invested in the food processing sector."
The food processing industry contributes nine per cent to the GDP, accounts for 14 per cent of total industrial output and provides direct employment to 16 lakh workers.
The government is considering to allow Foreign Direct Investment (FDI) in politically sensitive multi-brand retail.
Cabinet may take up Reliance-BP deal next week: Source
Cabinet may consider approval for a $7.2 billion deal between Reliance Industries and BP next week after the oil ministry recommended its approval, an oil ministry source said on Wednesday.
Reliance agreed in February to sell a stake in 23 of its oil and gas blocks, including some in the KG basin, to BP, and is expected to benefit from BP's deepwater exploration expertise.
"We have moved the cabinet note and it will be considered most likely next week. Ministry has recommended for approval of the deal," the source, who declined to be identified, said.
Reliance, with interests in refining, petrochemicals, oil and gas exploration and retail, has been under fire over the past few months as investors and analysts have focused on slowing output from its gas blocks off India's east coast.
In May, India's upstream regulator said Reliance was producing 48 mscmd (million standard cubic metres per day of gas) from its key D6 block in the Krishna-Godavari basin , lower than the 60 mscmd it produced last year, and far off the planned peak capacity of 80 mscmd.
"Technically, the ministry has competence to do so (decide on the deal) but since it is a big ticket investment the ministry decided to recommend it to cabinet," the source said.
The Indian government last week gave conditional approval to Vedanta Resources' $6 billion deal to buy a stake in British oil explorer Cairn Energy's Indian business, after a delay of more than 10 months.
Ahead of the news, shares in Reliance, which is India's top listed firm, closed 0.8 per cent higher in a flat Mumbai market. The stock has slipped nearly a fifth so far in 2011, compared to an 8.7 per cent fall in the main stock index.
8 APR, 2011, 05.53AM IST,
State government has a cynical policy
Swami Agnivesh, Social activist
Since 2005, Chhattisgarh has plans for leasing out mining rights in the Bastar region. Several MOUs are in the pipeline with private corporations. The PESA Act of 1996, which had given a sort of sovereignty to villages over their land, water and mineral rights, didn't let the government get land vacated for mining corporations. So, Mahendra Karma, an MLA, instigated the formation of Salwa Judum (SJ), which soon deteriorated into a militia attacking other tribal villages, asking them to vacate.
This is also the region where Maoists exist. The Naxal problem is such that poor tribals are caught in the crossfire between Naxals and security forces. The excise, forest, and police officials held sway for long in the area, causing conflict with the tribals. The Naxals complicated that conflict. Whenever the tribals found it tough to deal with these three types of officials, they went to Naxals for protection.
Then, the SJ started harassing villagers, alleging they were Naxal supporters. This was instigated by the Congress government followed by the BJP one. It has degenerated into adivasis killing adivasis, with Maoists actually gaining after the deeds of the SJ.
After the Supreme Court asked the government to ban the SJ, the latter just renamed it as SPOs. Now, in operations in three villages from March 11-14 , forces along with Koya commandos (drawn from SPOs as boys, given training and a larger salary), torched houses, killed three villagers and raped three women, and people were not allowed to go to check what had happened.
This writer reached Raipur on March 24, and reports seemed to confirm the worst fears. Given a security cover, we proceeded with aid, but one sensed the efforts of the local administration were being subverted by elements of local police. After the drama around preventing us from proceeding, the chief minister called to say we'd be provided security to proceed on our humanitarian mission. But we, police and media were attacked by a bigger crowd, forcing us to come back.
The state government has a cynical policy. The CM hasn't yet taken a step towards the villages. The home minister, in the assembly, blamed Maoists for the violence. If that's the case, why should the SJ prevent us from going there?
http://economictimes.indiatimes.com/opinion/etdebate/State-government-has-a-cynical-policy/articleshow/7909879.cms
India Inc raised Rs 4,781.1 cr in May via IPOs, rights issues
The quantum of funds mopped up by India Inc through IPOs and rights issues went up by over 136 per cent to Rs 4,781.1 crore in May, 2011, compared to the amount raised in April this year.
"During May, 2011, Rs 4,781.1 crore was mobilised in the primary market through five issues, as compared to Rs 2,025.7 crore mobilised through six issues in April, 2011, an increase of 136 per cent over the previous month," said a 'Capital Market Review' by market regulator Securities and Exchange Board of India (Sebi).
Of the five issues in May, four were initial public offers (IPOs), while one was a follow-up public offer ( FPO )). Corporates had raised Rs 2,025.7 crore through six IPOs in April.
Fund raising through IPOs and rights issues was quite good in FY2010-11, with companies raising a total of Rs 67,608.6 crore. Among the major fund raising exercises carried out last year was Coal India's public offer, which garnered over Rs 15,000 crore.
SEBI also said that only one listed company raised capital worth Rs 55 crore through Qualified Institutional Placement (QIPs) in May. No QIPs were filed in the previous month.
The number of preferential allotments witnessed a decline in May, 2011, with 25 such allotments raising Rs 5,931 crore.
In contrast, in April, a total of 30 preferential allotments were executed in the primary market, raising a total of Rs 8,776 crore.
In May, the stock market had seen a bit of downslide, with the benchmark Sensex losing 3.9 per cent during the month.
8 JUN, 2011, 02.16PM IST,PTI
Discussions on to further liberalise FDI policy: Pranab Mukherjee
NEW DELHI: Amid suggestions for opening up of multi-brand retail for foreign investments, finance minister Pranab Mukherjee on Wednesday said discussions were on to further liberalise the FDI policy.
"Discussions are underway to further liberalise the FDI (foreign direct investment) policy," he said at the annual conference of chief commissioners and directors general of Central Board of Excise and Customs ( CBEC )) at New Delhi.
He said with an aim to make the FDI policy user friendly, all prior regulations and guidelines have been consolidated into an comprehensive document. The document is reviewed every six months.
Mukherjee's statement comes within weeks of an Inter-ministerial Group (IMG) headed by Chief Economic Advisor Kaushik Basu recommending to the government opening up the multi-brand retail sector for FDI to tame inflation.
The IMG constituted in February by Prime Minister Manmohan Singh had favoured opening of the sector in a calibrated manner.
Last July, the industry department had initiated discussions on opening the sector for FDI.
The share of organised retail in the total retail trade happens to be just over 4 per cent in India. The unorganised retail sector employs about 33 million people.
5 JUL, 2011, 08.51AM IST, SOMA BANERJEE,ET BUREAU
How the cabinet reshuffle has cost Reliance Industries dear
NEW DELHI: For a company that is used to getting the rub of the green, for the past six months, Reliance Industries has suffered the repeated ignominy of being left kicking the dirt. Since January, when a cabinet reshuffle saw Jaipal Reddy replace Murli Deora in the ministry of petroleum and natural gas, several arms of the government have been scathing of RIL's production and cost numbers of its trophy gas project, dismissive of its reported oil finds and silent on a tie-up approval it needs more than anything else today.
These are the kind of notings and decisions that would come the way of India's largest private sector company as a matter of routine, though sometimes amid whispers. RIL Chairman Mukesh Ambani has been visibly silent on most of these issues. However, on June 24, Ambani called on Prime Minister Manmohan Singh for a one-on-one meeting. Five days later, in his interaction with editors, the prime minister was quoted as saying: "If Mr Ambani has done anything wrong, corrective action will be taken."
All this is happening in the backdrop of the 2G telecom scam case, which, for the first time in decades, is exposing the vulnerabilities of the high and mighty. The fact that such powerful people could be jailed and denied bail is a paradigm shift in Indian consciousness. Even investors are nervous. In 2011, the RIL stock has fallen 18.3%, hitting a two-year low on June 16. This is more than double the fall in the BSE Sensex, which is down 8.8% for the year.
Those in the corridors of power refute the theory that an 'RIL agenda' is unravelling with the ministerial reshuffle. "There is no such move to target any industrial house," says a cabinet minister, not wanting to be named. "It is just the overhang of the current atmosphere." Adds DV Kapoor, former power secretary and a RIL director: "In the current atmosphere, everyone tends to see everything with suspicion. RIL is paying the cost for that."
Both the minister and Kapoor are alluding to the state of paralysis the government has slipped into, stalling and distorting decision-making. "First, there is the whole speculation over the cabinet reshuffle," says the minister.
"Most ministers are unable to act as they are not sure if they will stay." And the shrill pitch against corruption today means they can't even ignore such issues. Says RV Shahi, former power secretary and ex-chairman of BSES: "The government cannot be seen to be doing nothing if there are questions raised about RIL or loss to the exchequer."
http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/how-the-cabinet-reshuffle-has-cost-reliance-industries-dear/articleshow/9105899.cms
6 JUL, 2011, 06.24AM IST, RAJEEV JAYASWAL,ET BUREAU
Not scared of CAG report: Deora
Murli Deora loves to shock. First it was his appointment to the cabinet some six years ago as oil minister that had tongues wagging. Now, his offer to step down from the cabinet, where he holds the title of corporate affairs minister after being shifted from the oil ministry early this year, has Delhi predictably agog with rumours of the possible motives of such an action.
Why have you offered to quit the government?
Personal reasons. I have worked within the government for over five years. I have offered the (Congress) President my services for party work. The party will decide.
But why was this decision so sudden? Is it because of the CAG report?
First of all, the decision is not sudden. It may be sudden for you (media) people because you just came to know. As for CAG, no such audits were required as per the PSC (production sharing contracts) and, as oil minister, I requested the CAG to undertake a special audit in 2007-08 . If I'm correct... first the CAG refused to conduct the audit, saying that it was not in its purview. But (the present CAG) Vinod Rai accepted the oil ministry's request. Interestingly, oil field operators (RIL, ONGC , BG, Cairn) first refused CAG access to their accounts citing PSC provisions that did not allow a CAG audit. I remember that Rai had written to me about the problem. Strict instructions were issued to the operators and they allowed full access to CAG. So, why should I be scared of the draft CAG report?
But the CAG draft report says that the DGH (director general of hydrocarbons) and the oil ministry under you granted favours to some oil and gas operators?
First of all, E&P (exploration and production) is highly technical and can't be easily understood by a layperson. And that includes me (laughs). But each matter approved by the DGH was scrutinised by ministry officials. In certain cases, we formed committees to take a view. We took decisions keeping interest of the nation in mind. The oil ministry must facilitate those who are producing oil and gas to meet our energy needs and not punish them by creating hurdles. In the process, there could be relaxation on reasonable grounds. The government can't work like a businessman. It has to make small sacrifices for the larger interests of the nation, for developing the nascent oil and gas sector where we have not been able to make any major discovery since the 1970s. We need to encourage investors, not chase them away. But there are cases when tough decisions were taken in the national interest. For example, the Supreme Court upheld the ministry's view (at the time of the Ambani brothers dispute ) that oil and gas belongs to the nation.
It is said that you tried to block the Cairn-Vedanta transaction. You imposed tough conditions on the deal and that delayed the transaction announced in August last year.
You have facts before you. Cairn had sought government permission only in November. Just days before I was moved to the Corporate Affairs Ministry, we had proposed certain conditions to protect the interests of public sector company ONGC. After six months, a group of ministers and the CCEA (Cabinet Committee of Economic Affairs) has endorsed the same. You can't say that entire cabinet tried to block a deal.
It is said that Prime Minister Manmohan Singh is not happy with you for delaying the deal and this was one of the reasons for you to quit.
The PM is a friend, philosopher and guide not just to me, but to the entire Congress Party. We have been working together for decades. And even after quitting the cabinet, I will be working under his guidance. We all love him.
http://economictimes.indiatimes.com/opinion/interviews/not-scared-of-cag-report-deora/articleshow/9120148.cms
6 JUL, 2011, 12.54AM IST, SOMA BANERJEE,ET BUREAU
Union Corporate Affairs Minister Murli Deora likely to step down
NEW DELHI: Murli Deora has offered to resign as corporate affairs minister citing personal reasons, but his explanation did little to dispel the widespread belief that he slipped when he was oil minister and is falling only now.
Deora, corporate affairs minister in the UPA government, said he was more keen to serve the party, but Delhi was rife with talk that his decision to step down now may have been motivated by the scam-weary government's wish to avoid the embarrassment of yet another minister facing prosecution.
The veteran Congressman from Mumbai was expected to be dropped by Prime Minister Manmohan Singh in the upcoming cabinet reshuffle. Senior Congress leaders told ET that Deora had stepped down mindful of the government and party leadership's desire to avoid another minister becoming the focus of a wide-ranging enquiry. Deora's stint as petroleum minister was controversial.
His tenure was dogged by the battle between the Ambani brothers, record oil prices, long delay in clearing the Cairn-Vedanta deal, and, more recently, the CAG probe into the way the oil ministry dealt with Reliance Industries' gas field under him. At the peak of the dispute between the Ambanis, Anil Ambani had accused Deora's ministry of favouring RIL. Deora insists his reasons to quit are personal.
His family members attest to this, saying they have been pressurising the 74-year-old to take it easy after many tense moments in his five-and-a-half years as oil minister. "He would have sleepless nights every time a decision had to be taken on raising fuel prices. The tension in the house was palpable," a family member recalled. The tensions did not seem to ease in the six months he spent in the corporate affairs ministry. Last week, all his thoughts seemed to revolve around his previous assignment, and Deora was already hinting that he wanted to hang his boots.
http://economictimes.indiatimes.com/news/politics/nation/Union-Corporate-Affairs-Minister-Murli-Deora-likely-to-step-down/articleshow/9117984.cms
Textile Minister Dayanidhi Maran under scanner in 2G scam probe: CBI tells Supreme Court
Textile Minister Dayanidhi Maran has come under the scanner in the 2G scam probe, CBI told the Supreme Court on Wednesday. Maran, a former Telecom Minister was accused of forcing promoter of a Chennai-based telecom company to sell his firm to a Malaysian firm in 2006.
CBI has assured the apex court of completing probe into money trail in the 2G scam by August 31.
Siva, as the former Aircel stake holder is popularly known among his friends and well-wishers in the corporate circle, had recounted the events that culminated in the sale of his telecom company to the Malaysian firm, owned by a Sri Lankan expatriate T Ananda Krishnan, in December, 2005.
The allegation against Maran is that Aircel, previously denied a telecom licence for over two years, was allotted one when its owners changed hands to Malaysia-based Maxis. The report says that Maran cleared the decks only after Maxis' sister company invested Rs 675 crore in the Maran-owned Sun TV, which the Bharatiya Janata Party (BJP) calls a conflict of interest.
Public Accounts Committee (PAC) chairman Murli Manohar Joshi last month accused Maran of having played a vital role in starting the 2G spectrum scam.
Maran's role came under the scanner after a news magazine questioned the circumstances in which he granted a license to Aircel in 2007 as the then communications minister.
Maran last month rejected charges that his family owned Sun Television Network was a beneficiary of pay-offs by a Malaysian company which benefitted from equity sold by Aircel.
"The Supreme Court has taken a decision in favour of the tribals, who will benefit from it. The state government should take care of the SPOs and make some arrangement so that no question of their livelihood arises," Jogi said.more by Ajit Jogi - 2 hours ago - IBNLive.com (2 occurrences)
Timeline of articles
Number of sources covering this storyPost-SC order, Maoist threat looms over SPOs20 minutes ago - Hindustan TimesSupreme Court order deals a big blow to Centre's anti-Maoist operations13 hours ago - Daily News & AnalysisCourt asks CBI to probe violence in three Chhattisgarh villages19 hours ago - The HinduSalwa judum is unconstitutional: Supreme CourtJul 5, 2011 - IBNLive.comImages
5 JUL, 2011, 04.10AM IST, RATNA BHUSHAN,ET BUREAU
Indian consumption to grow 14% in 3 years: Study
NEW DELHI: Consumer durables, automobiles, food and personal care products have the maximum growth potential in the country as multinationals shift focus to Asia Pacific and Latin America to drive up their sales, says a study. And Indian consumers will maintain their spending spree despite challenges such as rising prices and higher interest rates, according to an Ambit Capital Research report.
The Indian Consumer: a robust operator in an uncertain world'. "Despite being impacted by several challenges, we expect India's consumption growth story to maintain its course of about 14% growth over the next three years driven by three factors-inclusiveness, mix changes and specific consumption categories," senior analysts Vijay Chugh, Ashvin Shetty and Shariq Merchant wrote in the report.
"Reasonable valuations will keep acquisition interest by global midcap firms alive," they added. The $473-billion processed dairy category could grow at a rate of 15% in the next four years, while the $340-billion personal care products category would grow a tad lower at 14%.
Multinationals are aware of the potential in India. "I am hopeful that McDonald's India will contribute half a percent to the global sales in the next fiveseven years," McDonald's India (North & East) MD Vikram Bakshi said. India currently accounts for just 0.37% of the US fast food giant's $24-billion global business.
Last week, at the Cannes advertising festival, Unilever CEO Paul Polman was categorical when he said "We have to shift our thinking to New Delhi, not New York." Calling Unilever an 'emerging markets company', Polman said the "shift of economic power to the East and the South" was forcing the world's second largest consumer products firm to make extraordinary changes. He said while about 56% of Unilever's revenues come from outside North America and Europe, by 2020, Unilever expected this to be 70-75%.
At the same venue, Paul Bulcke, CEO of the world's largest foods maker Nestle SA, said that the most important global economic difference over the last few decades was that "emerging markets are emerging". As sales flatten in mature markets like the US and Europe, consumer products makers are relying on Asia Pacific and Latin America for growth.
Multinationals are committing resources to India not only for manufacturing but also for innovation. "Both traditional names such as Nestle and contemporary ones like Yum Brands and Google have committed to setting up local innovation centres," the report said. And Indian managers are being given positions of power to steer growth in emerging markets. Late last month, Unilever elevated Harish Manwani, currently chairman of its India arm Hindustan Unilever, to become the global giant's chief operating officer, second only to CEO Paul Polman. Three months back, British consumer goods giant Reckitt Benckiser named India-born Rakesh Kapoor as its CEO to succeed Bart Becht who spent a decade at the firm.
Earlier this year, GlaxoSmithKline Consumer Healthcare, maker of Horlicks milk drink and Crocin anti-pyretic drug, elevated its subsidiaries in India and China to report directly to the company's global headquarters instead of its international division that excludes the US and Europe. India and China are now part of the company's global consumer healthcare leadership team, with India among the fastest-growing regions of GSK Consumer. "A combination of good GDP growth, India being a nutrition deficient geography and an emerging consumer class are contributing to the growth," GlaxoSmithKline Consumer Healthcare MD Zubair Ahmed said.
http://economictimes.indiatimes.com/news/economy/indicators/indian-consumption-to-grow-14-in-3-years-study/articleshow/9106730.cms-
Toy industry & ethics, India & CSR, EU emissions trading, oil ...
10 Feb 2003 – Toy industry & ethics, India & CSR, EU emissions trading, oil lobbying, new anti-corruption standards for companies, corporate reporting ...
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India's energy diplomacy: Tipping the scales | The Economist
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What Oil Lobbyists Know That You Don't | DanaBlankenhorn
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Foreign investment in India surges - Yahoo! News
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www.business-in-asia.com/asia/india_fta.htmlis India's first major multilateral FTA and tariffs on products such as ... hurt by an influx of goods such as coffee, tea and palm oilfrom ASEAN. After strong lobbying by India's farm sector, the terms of the FTA let India exclude 489 ...
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By comparison, Britain emits 3% - about the same as Indiawhich has 15 times as .... jammed into the pockets of the oil lobby, clearly couldn't care less. ...
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2 JUN, 2011, 06.22AM IST, DEEPSHIKHA SIKARWAR,ET BUREAU
Multi-brand FDI: Walmart, Carrefour & Tesco may soon open stores in India subject to stringent investment norms
NEW DELHI: Multinational retailers such as Walmart , Carrefour and Tesco may soon be allowed to open stores in India subject to stringent investment norms, sourcing conditions, and cap on number of outlets in big cities. The Department of Industrial Policy and Promotion, or Dipp, is likely to move a proposal seeking cabinet approval for 51% foreign direct investment (FDI) in multibrand retail subject to a minimum investment of $100 million.
In a bid to counter possible political opposition to the move, the proposal gives state governments the final say on whether they wish to have front-end retail stores in their states.
"A draft framework has been prepared keeping adequate safeguards to protect small shopkeepers, and to ensure that FDI actually helps in development of back-end infrastructure," a senior Dipp official told ET on condition of anonymity. The department has circulated a draft framework to a committee of secretaries, which will fine-tune it before a final cabinet note is moved.
The move comes a week after an inter-ministerial group, chaired by chief economic adviser in the finance ministry Kaushik Basu, endorsed opening up the sector to FDI. India, at present, allows 51% FDI in single-brand retail and 100% in wholesale cash-and-carry. The draft framework prepared by Dipp proposes at least half of the foreign investment in multibrand retail projects should be in back-end infrastructure.
Multinational retailers will have to file a statement of account with the RBI and Foreign Investment Promotion Board showing the investment in back-end functions.
Proposals address states' concerns
"The government is very clear that FDI in multi-brand retail should create large-scale employment and bring quality investment into the country leading to development of back-end infrastructure," the official said. According to industry estimates, lack of cold chains leads to a loss of about 40% of the country's farm produce, or Rs 50,000 crore, every year.
For easier monitoring, the government will also allow back-end infrastructure to be executed through a dedicated entity. Multi-brand retail stores would be required to source at least 30% of their products, including food items, from small and medium enterprises, according to the draft framework.
http://economictimes.indiatimes.com/news/economy/policy/Multi-brand-FDI-Walmart-Carrefour-Tesco-may-soon-open-stores-in-India-subject-to-stringent-investment-norms/articleshow/8687055.cms-
6 JUL, 2011, 03.26AM IST,ET BUREAU
Rahul Starts Padyatra from Bhatta Parsaul to Agra
NEW DELHI: Two months after he took on Mayawati government over its land acquisition policy at Bhatta-Parsaul in Greater Noida area, the epicentre of farmers' protests, Congress general secretary Rahul Gandhi once again made his way to the twin villages on Tuesday morning to start his first padyatra to reach out to the farmers along Yamuna Expressway.
Gandhi, who had foxed the local administration in May when he reached Bhatta-Parsaul riding pillion on a motorcycle, once again took the government and the villagers by surprise as his car pulled into Bhatta at 6 am on Tuesday. He went to the village chaupal, his earlier dharna site in May, to interact with the farmers. He told the villagers that he is starting a "Kisan Sandesh yatra" on foot along the entire Yamuna Expressway belt to understand the grievances of the farmers.
Sitting with a child on his lap, he listened patiently and told the farmers that his yatra would culminate at Aligarh where the Congress is holding a mahapanchayat on July 9. Earlier, the state government had refused Gandhi permission to hold the kisan mahapanchayat, planned at Bhatta-Parsaul.
"Whatever happened in Bhatta Parsaul , other people were not aware of it. I wanted to understand this land acquisition happening here, from here to Agra. This yatra I have started from Bhatta, from here I will to go to villages and I will try to understand this acquisition, the new law and the peoples' opinion on this law. How, where and for whom are the laws getting implemented I want to understand. That is why I have come here and will go to other villages to understand the same," he told the villagers.
After half-an-hour interaction with the villagers, he started the padayatra along with large number of villagers from Bhatta-Parsaul at 6.30 am and after covering 7.5 kms on foot he reached his first stop at village Rustampur where he addressed a well-attended kisan panchayat. He then reached Nagla Bitona at noon, after walking about 6.5 more kms, where he interacted with the farmers at a kisan chaupaal. Speaking at the chaupal, Gandhi said he intended to understand the problem thoroughly from the affected farmers at the ground level.
http://economictimes.indiatimes.com/news/politics/nation/Rahul-Starts-Padyatra-from-Bhatta-Parsaul-to-Agra/articleshow/9119062.cms-
Nilekani on how UID will help deliver cash subsidy
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20 Mar 2011 – Nilekani on how UID will help deliver cash subsidy ... Once you get your payment, you'll receive an SMS with the amount. You take that to ...
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Budget News: Nilekani on how UID will help delivercash subsidy ...
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Poor consumers may get cash subsidy on LPG, kerosene and fertilizers
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It pays nearly 30 a litre as subsidy on each litre of kerosene. "If you can make a cash transferyou can bypass pilferage, which, according to anecdotal ...
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* www.dailymotion.com/.../xir440_nilekani-on-how-uid-will-help-deliver-...2 min - 17 May 2011
Nilekani on how UID will help deliver cash subsidy. tvnportal By tvnportal. Subscribe ...Would you like to comment? Create a free account ...
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Nilekani on how UID will help deliver cash subsidy
* www.ndtv.com/video/player/news/nilekani...uid...cash-subsidy/1924022 min - 28 Feb 2011
Explaining how it will work, UID chief Nandan Nilekani said for this the citizens will either have a bank a/c ... Nilekani on how UID will help ...
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YouTube - Nilekani on how UID will help deliver cash subsidy
* www.youtube.com/watch?v=U2Zboft7ApY2 min - 2 Mar 2011 - Uploaded by ndtvprofit
Finance Minister Pranab Mukherjee has proposed to provide a direct cash subsidy on fuel and fertilizers to the poor from March 2012.
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15 APR, 2011, 06.14AM IST,
Lokpal bill is no magic cure, it risks complications
D P Tripathi , General Secretary, NCP
Corruption is eating India hollow. What is most disgusting is, even corruption is corrupt in India! There is no honour even among thieves. Since people are concerned with this malaise, the fast unto death by the distinguished Anna Hazare got considerable momentum. Though this very important issue was raised, unfortunately, it happened through a wrong method, forcing the self-proclaimed representatives of 'civil society' and NGOs, who have no accountability to any institution or anybody, on the constitutional bodies.
Though some NGOs have done commendable jobs, most of them are 'non-genuine organisations'. That is why the joint drafting committee, in all probability, will prove to be a 'joint pain' both for the Constitution and democracy . No doubt, Lokpal is essential as a deterrent against corruption and the Lokpal Bill should be passed as soon as possible. But, then Lokpal alone is not going to be a magic cure for corruption.
I am afraid this whole idea of having a Lokpal - as a supreme authority even above the Supreme Court and over Parliament - that can bring under its purview anyone, even the Prime Minister , runs the risk of jeopardising governance rather than making it impartial and effective. Here I am reminded of what Mahatma Gandhi had once said: "It (corruption) has now become worse than before.
Restraint from it has practically gone. Corruption will go when the large number of persons, given unworthily to it, realise that the nation does not exist for them to exploit but that they exist to serve the nation. This requires morals, and extreme vigilance on the part of those who are free of the taint. Indifference will be criminal..." I foresee lot of complications both in the making of the Lokpal Bill and its implementation. Who would determine who is most credible and most appropriate?
If all the organs of the state are being run by 'suspects', then who among the civil society would be picked up and, by whom, to cleanse the system? The Lokpal is most welcome but the dwarpals (gate-keepers ) of democracy, the ordinary voters and the common man, are far more effective against corruption than any Lokpal.
http://economictimes.indiatimes.com/opinion/et-debate/lokpal-bill-is-no-magic-cure-it-risks-complications/articleshow/7986540.cms
When state makes war on its own people
A report on violations of people's rights during the Salwa Judum campaign in Dantewada, Chhitsgarh, April 2006
Since June 2005, Dantewada District (formerly part of Bastar district), Chhattisgarh, has been in the news for an alleged uprising of adivasis against the Communist Party of India (Maoist). Most media and official reports described this movement, known as Salwa Judum, as a spontaneous and self-initiated reaction to Maoist oppression, and hailed it as a turning point in the fight against Naxalism.
At the same time, a few reports indicated that people had been displaced in large numbers and were living in miserable conditions in camps. While this was officially attributed to Maoist threats and retaliation against those joining the Salwa Judum, stray news also came in about the forcible emptying out of villages as part of the government's anti-Maoist policy, and of excesses committed by members of the Salwa Judum and security forces.
A fourteen-member team from five organizations conducted an investigation between 28 November and 1 December 2005 in Bijapur and Bhairamgarh blocks of Dantewada district, focusing specifically on the violation of human rights and the impact on people's everyday lives. The organisations are: People's Union for Civil Liberties (PUCL) Chhattisgarh, People's Union For Civil Liberties (PUCL) Jharkhand, People's Union for Democratic Rights (PUDR) Delhi, Association for the Protection of Democratic Rights (APDR) West Bengal, and Indian Association of People's Lawyers (IAPL).
The information in this report is based on: a) Discussions with government officials and paramilitary forces; b) interviews with people in Bhairamgarh, Matwada, Meertur and Gangaloor camps; c) discussions with people we met in villages that we visited, d) interviews with leaders and members of the Salwa Judum; and e) discussions with fact-finding members of a CPI team. We have also relied on the CPI's Open Letter to the Prime Minister dated 16 November 2005, detailing their findings, two CPI (Maoist) press releases dated 10 October 2005 and 20 November 2005, and their Dandakaranya Special Zonal Committee newsletter, Prabhat, dated July-December 2005, as well as press clippings from June 2005 till the present. On the basis of the fact-finding, three facts stood out strongly, all of which ran counter to the government's assertions: First, it is clear that the Salwa Judum is not a spontaneous people's movement, but a state-organized anti-insurgency campaign. Second, it is misleading to describe the situation as simply one where ordinary villagers are caught between the Maoists and the military. The Maoists have widespread support and as long as people continued to live in the villages, it was difficult for the government to isolate the Maoists. Rather than questioning its own nonperformance on basic development, the government has resorted to clearing villages on a large scale. Tens of thousands of people are now refugees in temporary roadside camps or living with relatives with complete disruption of their daily lives. Prospects for their return are currently dim. Third, the entire operation, instead of being a peace mission as it is claimed, has escalated violence on all sides.
However, only the murders by Maoists are recognized, and the Salwa Judum and paramilitary operate with complete impunity. The rule of law has completely broken down.
Full report (pdf)
Press Release at Raipur, 2nd December 2005
http://www.pucl.org/Topics/Human-rights/2006/slawajudum.htm
SC quashes Greater Noida land acquisition
Apex court upholds HC order, says land must be returned to farmers; Rs.10 lakh penalty imposed on GNIDA
Nikhil Kanekal, Devesh Chandra & PTI
New Delhi: The Supreme Court on Wednesday quashed the acquisition of agricultural land by the Uttar Pradesh government in Greater Noida, upholding a ruling of the Allahabad high court that said the land must be returned to the farmers.
The court also imposed a penalty of Rs. 10 lakh on Greater Noida Industrial Development Authority (GNIDA), which had acquired 156 acres of land for industrial use, observing that "GNIDA allotted the land to builders in complete violation (of the purpose) for which the land was acquired."
The apex court passed its order on a petition filed by GNIDA and real estate developers challenging the high court order.
The bench said it doesn't need to interfere with the judgement of the division bench of the high court, which had held that the urgency provision applied by the authority for acquiring the land was "entirely a colourable exercise of power".
The Allahabad high court had said in its ruling in May that the acquisition of land from farmers in Greater Noida was not permissible under the Land Acquisition Act as the government had changed the land use and allotted it to builders, including Supertech Ltd and Amrapali Group, that were constructing commercial and residential complexes.
Real estate companies that were planning residential developments on the land allotted by GNIDA are shifting homebuyers to their other projects.
"About 5 acres of our 20-acre residential project has been affected," said Anuj Chaudhary, director, Panchsheel Buildtech. "We will be informing 124 buyers and will give them an option of shifting to other projects or take a refund."
Noida-based Amrapali Group has already shifted around 2,500 homebuyers from its residential project, Smart City, part of which was coming up on the disputed land, to another project, Dream Valley, in Greater Noida at the same price.
The company has refunded about 200 homebuyers. "We will wait for a final outcome on the matter. And we will urge the authority to allocate us a new piece of land in the same area," said Amrapali chairman and managing director Anil Sharma.
Other Noida-based firms such as Supertech, Ajnara India, Mahagun India and Gulshan Homz are also affected by the court order.
nikhil.k@livemint.com
http://www.livemint.com/2011/07/06140915/SC-quashes-Greater-Noida-land.html?h=A1
Singur welcomes verdict on Greater Noida land return
IANS | Jul 6, 2011, 10.18pm IST
SINGUR: The farmers of Singur in West Bengal on Wednesday expressed happiness over the Supreme Court's decision to quash the acquisition of land in Shahberi village of Uttar Pradesh's Greater Noida.
"We are happy that the farmers will be returned their lands. I know how it feels when your land is snatched away," said Paromita Das who herself is looking forward to getting back her land takenover by the state government.
The erstwhile Left Front regime acquired 997 acres of land in this rural belt of Hooghly district for setting up of an automobile factory by Tata Motors.
The project had to be scrapped after alleged forcible acquisition saw two years of sustained agitation under Trinamool Congress chief Mamata Banerjee, the new state chief minister.
"I am not aware of the legal complexities but I am happy for the farmers (in Greater Noida). Hopefully, we too will see such a day soon," said Joothika Manna who had to lose her family land, which was the only source of livelihood.
Mahadeb Das another farmer who had spearheaded agitations against forcible acquisition welcomed the verdict and said it will make the people more hopeful about getting back their own land.
An apex court bench of Justice GS Singhvi and Justice AK Ganguly Wednesday on held that the acquisition of 156 hectares of village land in Greader Noida under the emergency provisions of the Land Acquisition Act (Section 19) was bad in law.
The Bahujan Samaj Party government in Utttar Pradesh took over the land in Shahberi village under the emergency provisions of the act which denies landowners the right to be heard.
06/07/2011
Home buyers worried over court order on land in Greater Noida
New Delhi: Home buyers were worried about their investments after the Supreme Court Wednesday upheld a lower court order quashing the acquisition of 156 hectares of farmland in Greater Noida for housing projects, even as builders assured that the money was safe.
According to officials, the builders who were initially allotted the land included the Amrapali Group, Unitech, Supertech and Mahagun. Among them, the first two were set to build some 8,000 flats, while the other two had proposed around 400 luxury villas.
The land falls under three villages -- Shahberi, Surajpur and Gulistanpur -- in Uttar Pradesh's Greater Noida district on the outskirts of the national capital.
Fearing being targeted, some investors in the projects -- who had opted out rather than shift to other projects -- said on condition of anonymity that the developers had told them they would get their money back only after the state government returned their money.
"For me this is very upsetting. I was hoping to own a house purely as an investment. I am not even from Delhi. I have already visited Noida thrice since May and I don't know if I will get my money back," said one such buyer who lives in Chennai.
But the developers said they were doing their best to help those affected.
"In the context of the honourable high court's order, Amrapali Group decided to shift its Amrapali Smart City to Amrapali Dream Valley," said an official of the group while referring to the decision taken after the Allahabad High Court order May 11.
According to the group, out of 4,000 people who had invested in the project, settlement had been reached with as many as 3,500. The officials also said Amrapali Smart City was among the smaller projects and had little impact on their finances.
Mahagun's director Dhiraj Jain, in a statement posted on their group's web site says the decision of the court did not affect their project -- Mahagun Mywoods -- at all, since it does not fall in the area which was disputed.
"Only some portion of land, which has been set apart for future development, might fall in the said area, but nothing has taken off there yet," Jain has been quoted as saying in the statement.
Supertech said it has not launched or sold any project on the land that fell under the disputed site. "We are happy to assure you that all bookings received from our valued clients in the said projects are unaffected," said the company statement.
"We hereby appeal to all our esteemed customers not to panic."
The Supreme Court, in its judgment, said the Greater Noida Industrial Development Authority had forged a nexus with the builders to forcibly take over land from farmers without following the due process.
"GNIDA allotted the land to builders in complete violation for which the land was acquired," said the bench of Justice G.S. Singhvi and Justice A.K. Ganguly. "It was entirely a colourable exercise of power."
The Bahujan Samaj Party government, led by Chief Minister Mayawati, had taken over the land under the emergency provisions of the act under which the land owners were denied the right to be heard.
There was no justification for invoking emergency provisions to acquire the land when 60 percent of the already acquired land had not been utilised by the state, the bench said.
The court also suspected the manner in which land rules were changed from industrial to residential purposes.
Source: IANS
SC quashes land acquisition in Greater Noida
06/07/2011
Nanavati wants Guj cops to explain 'destroyed' riot records
Ahmedabad: The Nanavati Commission, probing 2002 Gujarat riots, on Wednesday directed Additional Director General of Police (Intelligence) to file a report stating which State Intelligence Bureau (SIB) records related to the riots were available and what had been destroyed.
The commission, comprising Justices G T Nanavati and Akshay Mehta, was hearing an application filed by NGO Jan Sangharsh Manch (JSM), seeking directions to the state government that it clarify whether the SIB records had been destroyed.
The commission today directed the ADGP to file the report within 10 days, after which it would pass orders on the JSM's application. JSM, which represents some of the riot victims, filed the application following conflicting statements by the authorities over the destruction of SIB records.
On June 29, senior counsel S B Vakil, who represents the Gujarat government, had told reporters that telephone call records, officers' movements registers and vehicle log books of the SIB pertaining to the period of 2002 riots were destroyed in 2007, as per government rules.
The state home department later clarified that all crucial records related to the riots were available. The government also said that some SIB records, which were of 'temporary' nature, were destroyed as per the rules.
JSM has sought directions to the home secretary to clarify, on an affidavit, what kind of documents pertaining to the period between February 27, 2002 and May 31, 2002 were destroyed.
JSM also wants to inspect log books (movement registers) of the vehicles of former DGP Chakraborty, ex-ADGP G C Raigar, ex-Police Commissioner P C Pande and DCP (SIB) Sanjeev Bhatt for the period between February 27, 2002 and March 3, 2002.
The NGO has also sought to inspect telephone call registers of the SIB control room as well as the movement diaries of the ADGP Raigar, former IG O P Mathur and the three DCPs posted with the SIB, for the same period.
JSM has also demanded that state government produce certificate of destruction of the documents claimed to have been destroyed.
Source: PTI Timeline of articles
Number of sources covering this storyRahul's march takes him by Mayawati's expressway34 minutes ago - Hindustan TimesRahul shrugs off heat, mingles freely15 hours ago - Times of IndiaRahul ups ante against Maya, visits Bhatta Parsaul again20 hours ago - Times of IndiaRahul Gandhi to march through west UPJul 5, 2011 - Economic TimesRahul embarks on padyatra: Can he become a mass politician?Jul 5, 2011 - IBNLive.comRahul dares Maya, garners support for Kisan MahapanchayatJul 4, 2011 - Times of IndiaImages
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Number of sources covering this storyCBI move seals Maran exit from Cabinet?36 minutes ago - Hindustan Times2G scam: CBI submits report, Dayanidhi Maran under scanner6 hours ago - Times of IndiaImages
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06/07/2011
Telangana: Students, police clash again in Osmania campus
Hyderabad: Tension prevailed at Osmania University (OU) here on the second day of the 48-hour bandh called by Telangana Joint Action Committee (JAC), after pro-Telangana students again clashed with police.
Police chase away pro-Telangana students at a protest during the second days strike demanding the creation of a new state of Telangana, at Osmania University in Hyderabad on Wednesday. PTI
Trouble started after police stopped the students from undertaking a protest-march from the OU campus to Gun Park (Martyrs' Memorial) around noon in support of Telangana. There were similar clashes yesterday too.
Students hurled stones at police near the NCC gate on the campus, and the latter responded by firing teargas shells, a senior police officer said. "Police used only teargas shells to disperse the protesting students... neither rubber bullets were used nor were the students caned," the officer said.
"With stone-pelting by students on police continuing, the situation is tense, but under control. There is no permission to undertake any rallies or processions, but the protesters are forcibly trying to defy the ban orders," said Deputy Commissioner of Police (East Zone) Y Gangadhar.
A group of protesters also rained stones on the OU Police Station, located on the campus, and police lobbed teargas shells. A journalist with Telugu news channel 'Samad' sustained injuries on the head.
Pro-Telangana students pelting stones at the police during a clash in the campus of Osmania University in Hyderabad on Wednesday. The clash broke out after a demonstration by the students on the second day of their bandh over the demand for introduction of Telangana bill in Parliament. PTI
A pro-Telangana student leader alleged that police prevented them from undertaking a peaceful march toward the Gun Park. "The police over-reacted and used force against us and fired teargas shells as we tried to take out a peaceful march. The police are provoking the students, but we are determined to take out the march," he said.
There was no confirmation of the number of students arrested or the number of injured during the protest. On the first day of the Telangana shutdown yesterday, students held demonstrations and allegedly indulged in stone pelting, targeting policemen, at the OU campus.
Apart from statehood for Telangana, the students are also seeking deletion of clause 14 (f) of presidential order before the examination for the post of sub-inspector next month.
Source: PTI
Telangana bandh hits normal life for the second day
06/07/2011
2008 Gujarat blasts: Supreme Court paves way for trial
New Delhi: The Supreme Court on Wednesday paved the way for trial of over 50 accused in the 2008 Gujarat serial bomb blasts which killed over 56 persons.
A bench of Justices Altamas Kabir and Cyriac Joseph rejected the plea of the accused that the trial in the Bharatiya Janata Party-ruled State could not be held in a free and fair manner owing to the surcharged communal atmosphere in the aftermath of the 2002 Godhra massacre.
The Supreme Court said things have considerably "settled down" after the Godhra killings and hence the claim of the accused that the trial could not be held in a fair manner was mere apprehension.
It, however, granted liberty to the accused to move the court again if and when there were genuine apprehensions of the trial being held in a vitiated atmosphere.
The Supreme Court had earlier in 2009 stayed the trial against the accused after the latter sought transfer of the cases outside the State on the ground that the prosecution and the investigating agencies were totally biased in favour of the ruling party.
Source: PTI
06/07/2011
Drinking lassi, chatting up farmers, Rahul continues padyatra
Alawalpur (Uttar Pradesh): Walking and talking with farmers, students, women, Congress general secretary Rahul Gandhi was off to an early start Wednesday, the second day of his march against forcible land acquisition in Chief Minister Mayawati's state.
Clad in a starched white kurta-pyjama and Nike sneakers, Gandhi started the padyatra towards Shatbota village at 6.30 a.m. - almost three and half kilometres away from his night halt at Rampur Badli - and reached at 7.20 a.m.
The 41-year-old Gandhi scion interacted with villagers, students and women folk on his way. The padyatra will culminate at a Congress Kisan Mahapanchayat at Aligarh Saturday.
After reaching Shatbota, he addressed the village panchayat and had a glass of lassi offered by a villager, Ved Prakash.
"I wanted to understand the situation of farmers and that is the reason I'm here between you, to talk to everyone of you," Gandhi told a gathering of 200 villagers.
Then, he walked another five kilometres to Alawalpur.
Trudging the dust tracks of rural Uttar Pradesh, not far from the national capital, Gandhi began his march Tuesday, walking 19 km in six hours and visiting five villages.
He made his night halt at a farmer's home in Rampur Badli.
06/07/2011
SC orders filming of Kerala temple treasure unearthing
New Delhi: The Supreme Court today directed videography of the ongoing unearthing of treasure trove inside chambers of the Sree Padmanabhaswamy Temple in Kerala.
A bench of justices R V Raveendran and A K Patnaik also proposed the appointment of a curator of a museum to preserve the treasure being unearthed from the centuries-old temple in Thiruvananthapuram.
The apex court's directions came during the hearing of a petition by the heir of erstwhile king of Travancore Raja Rama Varma, challenging a Kerala High Court ruling of January 31 this year, ordering takeover of the assets and management of the shrine by the state.
The court also barred the observer, supervising the unearthing of the temple's treasure, from giving any interview of the process, saying the matter is related to the state.
After brief proceedings, the court posted the matter for further hearing on Friday.
Earlier on May 2, on a petition filed by Rama Varma's elder brother Marthanda Varma, the apex court, by an interim order, had stayed the high court's order for takeover of the management and assets of the temple.
While hearing of the petition, the court had directed that "there shall be a detailed inventory of the articles, valuables and ornaments found from the temple's treasure trove."
The court had also appointed retired judges of Kerala High Court Justice M N Krishnan and Justice C S Rajan as observers to supervise unearthing of the temple's treasure and had said that the inventory list would be prepared in their presence.
The two petitioners in the matter, including Marthanda Varma, were also authorised by the apex court to be present during the preparation of the inventory list.
The court had also said that the inventory shall be made in the presence of the Devaswom Department's secretary or a representative nominated by it.
The court had also directed the presence of a senior officer of the Department of Archaeology during preparation of the inventory list.
The court had also made Justice Krishnan as the in-charge for organising the inventory and fixing of the schedule for its unearthing.
Source: PTI
"He woke up at about 5 a.m. today (Wednesday) and asked for newspapers. I immediately sent my son to get it for him and he read it for some half-an-hour," Vijaypal Sharma, a local farmer and Congress supporter, in whose house Gandhi spent his first night, told IANS.
The Sharma household was all praise for the Gandhi scion. Aman, Vijay's brother, said that he easily intermingled with all the family members.
Gandhi was asked by Sharma's family members how he was feeling after a tiring schedule. To this he replied: "Thik-thak hain" (I am okay).
He also took a quick bath on the terrace of the double-storey house before the dinner, said a family member of the household.
Sitting outside, elderly people discussed about the Gandhi clan.
"There has never been a leader like Indira Gandhi. Let's see what Rahul Gandhi does for the country," remarked Ramesh, a villager.
Gandhi's march is clearly aimed at giving the Congress an edge with an eye to the crucial elections to the state assembly next year.
Source: IANS
06/07/2011
Corporate Affairs Ministry launches Makeover
A new team at the ministry has junked antiquated rules, introduced sensible new ones and given India Inc a boost.
New Delhi: Corporate Affairs Minister Murli Deora offered his resignation yesterday and, while the reasons for it are still being debated, it most certainly wasn't because of a lack of traction in his ministry.
Ironically, Deora's resignation comes on the heels of a renaissance of sorts that has taken place at the corporate affairs ministry. A steady string of notifications and circulars has considerably eased procedural issues that have plagued Indian companies for decades. For example, last month, the ministry effected changes in a 46-year-old rule framed under a 55-year-old law -- the Companies Act of 1956 -- to do away with sector-specific cost-accounting rules that were no longer relevant in the current business environment.
Thanks to Deora's team of senior ministry officials, similar changes and regulatory exemptions, though small in terms of individual impact, have phased out dozens of outdated regulatory requirements that were big headaches for the Indian corporate sector for years.
Vijaya Sampath, co-chair, corporate law committee of industry chamber Ficci, feels that the ministry's "actions in the past few months in issuing clarifications and circulars have had a major impact in amending certain obsolete provisions that needed change a long time ago".
Far from a one-off initiative, this is a programme of systemic change launched by the ministry over the past six months.
In addition to doing away with antiquated procedures, new initiatives have also been implemented.These include asking companies to migrate towards electronic filing of mandatory data and allowing company directors to interact with their shareholders through video conferencing. These initiatives suggest an urgency to introduce reforms that can facilitate healthy industry growth.
Indeed, most of these changes had been long-term demands of industry. However, with the ministry on the verge of enacting the Companies Bill, 2009, which in effect comprehensively revises the 1956 law, no one expected these changes to happen quickly. After all, the new company Bill, expected to be tabled along with the fresh set of company rules in the forthcoming Parliament Session, would have taken another year to get implemented.
Source: Business Standard
06/07/2011
India Inc gets relief from high commodity prices
Other recent positives give hope, though analysts still unsure of supply dynamics.
Mumbai: After the slowdown blues over the past few months, Indian companies are breathing easy -- courtesy declining commodity prices over the last three months.
The Reuters CRB index of commodities has fallen 4.34 per cent in three months -- 2.5 per cent in June itself -- when ending of quantitative easing (QE2) in the United States became evident.
Analysts say the margin pressure India Inc has faced over recent quarters will ease considerably as raw materials account for two-third of the total costs of manufacturing companies. Even a slight fall can have a significant impact, they say.
In the last quarter, prices of some important commodities such as nickel, tin, steel, rubber and cotton fell 10-20 per cent, while crude oil is down 3.5 per cent.
Some say the decline is still not steep enough. In the past year, the Reuters CRB index of 24 commodities has risen 31 per cent.
Some commodities rose much higher. But even then, there is hope in the air, as most in India Inc believe the worst is over. The idiom has changed from 'how much more?' to 'will it fall further?'
However, no one is expecting the fall in commodity prices to have an immediate impact on corporate numbers. "The sentiment is turning positive due to the fall in prices. We believe interest rates may not go up further. But corporate results will reflect this in the October-December quarter more decisively with increase in earnings," said Mahesh Vyas, MD and CEO, CMIE.
Marico CMD Harsh Mariwala, also president of Ficci, agrees. "Things have started looking better, selectively. Exports are improving, the current account deficit is falling, foreign investments have gone up and the food inflation rate is declining. However, we have to wait and watch whether the fall in commodity prices is sustainable." His bullishness also stems from expectations that the government will take important decisions on manufacturing policy and foreign direct investment in the retail sector.
Jayant Manglik, president, Religare Commodities, said, "The undertone in the commodity markets is still positive because any further fall will be met by demand at lower levels."
What could help is the tight money situation after the ending of QE2. Suzanne Smith, MD and analytical manager, corporate ratings (commodities), Asia Pacific region, Standard and Poor's, believes the monetary tightening in India and China could dampen demand.
"In China, there is already an oversupply of steel, but this is not the case in India. Underlying supply/demand balance is still good in aluminum, copper, zinc and nickel because we don't see any oversupply in the short term and the demand is still growing. This could support prices of these commodities in the short term," said Smith.
Though coal prices are still high, most expect a gradual easing in few months. That will help many companies running coal-based plants curtail costs. Even banks are not in a hurry to curtail credit growth targets and expect the good times to return soon. Most lenders, except State Bank of India, are refusing to cut their credit growth target for the current financial year, in spite of slow demand for advances amid rising rates. Bankers would prefer to wait till September-end before revising their loan growth targets. "We're sticking to our target of 20-22 per cent growth and will review our growth targets only after September," said Union Bank of India CMD M V Nair.
Source: Business Standard
06/07/2011
Mukesh may sell stake in RGTIL
New Delhi: After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
As part of its tie-up with BP, Mukesh Ambani-promoted Reliance Industries Ltd (RIL) had also announced its intention to jointly pursue gas sourcing and marketing opportunities in the country.
A news report on Wall Street Journal's website today said: "Mukesh Ambani is looking to sell Reliance Gas Transportation Infrastructure Ltd, a business that builds pipelines to carry natural gas across the fast-developing country, according to people privy to the matter." According to the report, Ambani has contacted bankers to help him sell the business. However, a company spokesman declined to comment on the report.
Reliance Gas Transportation and Infrastructure Ltd or RGTIL, the company that is crucial to RIL's gas business, is not part of the RIL group. The company that has set up the pipeline network for transportation of RIL gas from its D6 field moved out of the RIL fold to be a subsidiary of Reliance Utilities Private Ltd in 2006.
The entire transaction at that time took place for a mere Rs 5,00,000 which was too small considering that RGTIL had right of use (ROU) for setting up major pipeline networks across the country.
Source: Business Standard
Murli Deora
From Wikipedia, the free encyclopediaMurli Deora is the Union Minister of Corporate Affairs (India). He belongs to Deora Chauhan Rajput community.
Contents
[hide][edit]Early life
He was born in Mumbai, and did his BA from Mumbai University. Native Place of Murli Deora is lakshmangahr(Rajasthan)
[edit]Political career
The industrialist and social worker-turned-politician began his innings from the Bombay Municipal Corporation way back in 1968 when he was elected corporator . Later, in 1977, Deora was elected mayor of Mumbai with Shiv Sena's support. Known for his close relations with politicians of all political parties, the arts graduate first contested the Lok Sabha polls from Mumbai South constituency in 1980 but lost to the Janata Party's Ratansingh Rajda though, in the subsequent election, Deora defeated BJP's Jayawantiben Mehta by a huge margin. He was re-elected in 1989, 1991 but lost to Mehta in 1996 and 1999 before his son, Milind, defeated Mehta to go to the Lok Sabha from the same constituency in 2004. Deora is a trusted aide of the Gandhi family in Mumbai. He was elected to the Rajya Sabha in 2004 and was inducted in the Union cabinet as petroleum minister in January 2006. His high point was countering the oilmen's strike with an iron fist, breaking his image as a soft person. He did his bit to shield consumers from the impact of oil's high run, but couldn't stop state-run oil companies from going into the red for the first time, posting historical quarterly losses. Appointment of ONGC chairman also became controversial. Deora, who has literally ruled the Mumbai Congress for well over a decade, is closely associated with the Bhartiya Vidya Bhavan and the Indian Red Cross Society.
He was president of the Mumbai Regional Congress Committee for 22 years from 1981 to 2003.[1]
His appointment in 2006 as cabinet minister as Minister of Petroleum and Natural Gas replacing Mani Shankar Aiyar was seen by some observers as taking place at the behest of pro-American and pro-business lobbies.[1][2][3][4][5]
In the Congress re election in 2009, Deora retained the portfolio of Petroleum and Natural Gas in the second government under Prime MinisterManmohan Singh. He served on this post till January 2011 and was later given the Corporate Affairs portfolio. His position was taken by S Jaipal Reddy. [2]
[edit]Personal life
His son Milind Deora is a Lok Sabha member from Mumbai.
[edit]References
[edit]External links
Political offices Preceded by
unknownMinister of Petroleum and Natural Gas
unknownIncumbent This article about an Indian National Congress politician is a stub. You can help Wikipedia by expanding it. Italic text
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Jamnager Integrated Petrochemical Complex - Chemicals Technology
Integrated Petrochemical Site. Location. Jamnager, India. Estimated investment. Second refinery $6bn. Completion. 2000, 2008. Sponsor. Reliance Industries ...
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Reliance Industries - Petrochemical Companies in India
Reliance Industries is one of the major players in thepetrochemical sector inIndia. It is the flagship company of theReliance Group and is considered as ...
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Reliance Bets on Petrochemicals, Retail, Telecom - WSJ.com
9 May 2011 – Reliance Industries will look to itspetrochemicals, consumer retail and telecommunications businesses to drive growth in the next few years ...
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Help: Reliance Petrochemicals, ILLU and PILLU
2 posts - 2 authors380 shares of Reliance Petrochemicals (RPC) 2. 100 OCDs of Reliance Polyethelene (Illu) 3. 100 OCDs of Reliance Polypropelene (Pillu) ...
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Aadhaar Launched In Kerala
Yentha - 1 day ago
Trivandrum: Chief Minister Oommen Chandy inaugurated 'Aadhaar' or UID Number ... "The state has demanded the Centre that UID be made accessible for NRIs too ...AP set to save with Aadhaar - Deccan Chronicle
12-digit pin to Nirvana, claims government -Deccan Herald
India's Individual Identification Project Adds API -ProgrammableWeb (blog)
all 12 news articles »
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NGO's shelters shut after it pointed out UID flaws
Times of India - 2 days agoThe NGO, Indo Global Social Service Society, had stopped conducting UID enrolment on behalf of the government at the two homeless centres it was running ... -
IT dept cracks whip on UID firm
Hindustan Times - 1 day agoThe state's directorate of information technology, the agency spearheading the unique identification (UID) card programme, on Monday issued directives to ... -
Aadhaar centre opens in city
Times of India - 22 hours ago
The project requires the agencies to enrol the residents of India for providing a 12-digit Unique Identification (UID) to them. This service was launched ... -
Link food subsidy to UID smart card: Plan panel
Indian Express - 1 day ago... in the proposed Food Security Bill, in which subsidy for the Below Poverty Line (BPL) population should be linked to UID-based smart card system. ... -
Soon, register for UID at a bank near you
Hindustan Times - 6 days ago"Allowing these banks to enroll their customers will reduce the burden on UID centres run by the state government considerably," said Gurudutta Ray, ...Posted On Wednesday, June 29, 2011 at 11:39:29 PM -Bangalore Mirror
UID enrolment will go to BPOs, cos. - Deccan Chronicle
IBA seeks clarity on banks' role in Aadhaar project -Moneycontrol.com
Mangalorean.com
all 8 news articles » -
Bouquets & brickbats: Nandan Nilekani decodes the UID
Moneycontrol.com - 25 Jun 2011On CNBC-TV18's Young Turks, Nilekani decodes the UID, says with 9.2 million people on board, the critics can keep calm now. Below is a transcript of Nandan ...One mn Indians to be enrolled per day for UIDunder Aadhar scheme - Times of India
1 mn a day expected to enroll for UID from Oct -Rediff
Aadhar will reach target: Nilekani - IBNLive.com
MediaNama.com - CIOL
all 61 news articles »
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UID hope for those on fringe
Times of India - 27 Jun 2011NEW DELHI: The drive to issue unique identification (UID) numbers to residents is gathering pace in the city with close to nine lakh in a population of 1.68 ...UID registration system to go online in a fortnight- Hindustan Times
Unique chaos for cards - Calcutta Telegraph
One crore register in Maharashtra under UIDproject - Moneycontrol.com
Daily News & Analysis - Deccan Chronicle
all 8 news articles »
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Staff, computer shortage hits UID work in Pimpri-Chinchwad
Daily News & Analysis - 4 days ago
By Archana Dahiwal | Place: Pune | Agency: DNA The work of issuing 'Adhaar' unique identification number (UID) cards is progressing at a slow pace in ... -
UID plan will continue till all are enrolled
Daily Bhaskar - 3 days agoPune: The Pune Municipal Corporation (PMC) has appealed to citizens not to rush to get the unique identification number (UID), as the enrolment would go on ...'UID drive will continue till all citizens are registered' - Times of India
all 15 news articles »
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