Troubled Galaxy Destroyed Dreams: Chapter 241
Palash Biswas
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Chat Topic: Can the Congress trust Mayawati?IBNLive.com - 9 hours ago Not long ago, the Mayawati-led BSP had pitched itself as part of the Third Front, projecting itself as a national alternative to the Congress. ... Mayawati reverts to her Dalit agenda Times of India Get to the basics, Maya Express Buzz SC orders Mayawati govt to reinstate 18000 copsIBNLive.com - May 25, 2009 New Delhi: Just a week after her poll debacle, there is another setback to Uttar Pradesh Chief Minister and Bhaujan Samaj Party chief Mayawati. ... Sacked Indian police reinstated BBC News Take back 18000 cops: SC to Maya Times of India Maya continues to juggle with police administrationEconomic Times - 7 hours ago NEW DELHI: She may have been handed out a snub by the electorate in her state, but Uttar Pradesh chief minister Mayawati continues with her experiments in ... Another layer of cops for supervisory duty Indian Express Pass percentage improvesTimes of India - 6 hours ago The pass percentage last year was being seen as a fallout of Mayawati government's strict orders of implementing anti-copying norms and revoking the ... With Rs 500 each, they took on MayawatiIndian Express - May 26, 2009 Supreme Court has ordered Mayawati Govt to provide provisional appointments to the constables dismissed in 2007. Theirs is a story of grit, perseverance and ... Rs 500 each and grit saw them through Indian Express BSP nominates nine members to UP Legislative CouncilTimes of India - 21 hours ago 27 May 2009, 1520 hrs IST, PTI LUCKNOW: The Mayawati government has nominated nine members to the Uttar Pradesh Legislative Council but the ruling BSP will ... Cong slams Maya for nominating partymen to LC Times of India Mayawati shops for power to meet 24-hr supply targetIndian Express - May 25, 2009 In order to meet its target of 24-hour power supply by 2012, the Mayawati government is planning to purchase 2000 MW power from the open market for the next ... Power employees to protest privatisation, no work boycott Times of India Mayawati reviews progress of developmental works in UPIndopia - May 24, 2009 Lucknow , May 24 Uttar Pradesh Chief Minister and BSP supremo Mayawati today held separate meetings with party legislators and reviewed the progress of the ... Mayawati raps partymen for poor poll show Times of India Mayawati back to the square one Sakaal Times Cops asked to spruce up serviceTimes of India - 14 hours ago VARANASI: Following the line drawn by chief minister Mayawati to eliminate corruption at lower level to ensure relief to people, especially the downtrodden, ... Stung by defeat, Mayawati to revert to Dalit agendaEconomic Times - May 19, 2009 LUCKNOW: Stung by the results in the just-concluded Lok Sabha polls, BSP leader and Uttar Pradesh Chief Minister Mayawati on Tuesday advocated returning to ... Mayawati sacks heads, members of state corporations Times of India |
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Dalit NRIs opt to set up gurdwaras in foreign landsTimes of India - 8 hours ago CHANDIGARH: Affluent Dalit Non-Resident Indians are something unheard of. Punjab's Doaba region alone has sent an estimated 20 lakh of them abroad, ... The fearless at prayer Indian Express Justice for Dalit victims on same day, says MayawatiHindu - May 26, 2009 The Chief Minister directed the DGP and the Principal Secretary (Home) that in incidents related to murder or rape of Dalits, the area would be visited by ... Mayawati reverts to her Dalit agenda Times of India Get to the basics, Maya Express Buzz Why Dalits have slammed Mayawati's Sarv-jan Formula? Kerala Online Dalits favoured in UPA cabinetExpress Buzz - 5 hours ago Significantly, Dalits have been included in a big way in the new Cabinet, keeping in mind the revival of the Congress in UP, Bihar and Madhya Pradesh where ... Ministry expansion today, 59 MPs to be inducted IBNLive.com Meet the B Team of Dr Manmohan Singh MyNews.in Manmohan calls up 59 MPs Chandigarh Tribune Out: Heartland grip In: Ex-cms & DalitsCalcutta Telegraph - 10 hours ago The other standout features of the ministry are a high number of Dalits and former chief ministers and fewer Muslims than expected. ... Dalit count up to 10, Muslim down to 5 Indian Express THE TRUTH ABOUT THE MUSLIM VOTE Calcutta Telegraph Chhedi Paswan denounces Ram Vilas's Dalit politicsTimes of India - May 26, 2009 PATNA: With the NDA making a dent into the Dalit vote bank in the just concluded elections to Parliament and total rout of LJP in Bihar led by Dalit ... Chhedi Paswan Rips LJP Chief Patna Daily Political taunts continue unabated in state Times of India Most members of Dalit sect don't follow Sikh tenetsTimes of India - May 26, 2009 ... their identity lies in the Ravidassia ideology, and with followers of Guru Ravidass, a Dalit saint of the 14th century Bhakti movement of India. ... What set off the Vienna violence Calcutta Telegraph Dalits in Canada call Vienna killing 'act of terrorism'Hindu - May 25, 2009 Considered to be one of their largest groups anywhere in the West, the Canadian Dalits number about 15000. Sant Rama Nand, 57, who headed Dera Sach Khand ... Vienna incident- Jat-Dalit divide flashpointPunjabNewsline.com - 22 hours ago The Vienna incident is the result of a simmering undercurrent of animosity between the dominant Jat Sikh community of Punjab and the largely Dalit Sikh ... Sikhs succumb to casteismExpress Buzz - May 26, 2009 These antagonistic sentiments between the Jat Sikhs and the Dalit Sikhs have been heightened by several other factors. One is the establishment of various ... Controversial 'deras' add fuel to Punjab fire Times of India Badal enquires about Sant Niranjan Dass' condition Press Trust of India Vienna clash may put caste in global spotlightTimes of India - May 25, 2009 But dalit lobbies say that Vienna bloodshed has blown holes in the argument that caste was an Indian phenomenon, firmly showing that it had spilled out on ... |
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Out: Heartland grip In: Ex-CMs & Dalits - Singh's full council lays stress on east, west and south | |
| RADHIKA RAMASESHAN | |
New Delhi, May 27: The heartland's hold on decision-making has been broken. Manmohan Singh and Sonia Gandhi today unveiled the full council of ministers that tilted heavily towards the south, east and west and virtually bypassed the big northern states. The other standout features of the ministry are a high number of Dalits and former chief ministers and fewer Muslims than expected. Out of the 79 members in the new council, only 16 are from the so-called heartland states of Uttar Pradesh, Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Chhattisgarh and Uttarakhand. The UPA in 2004 had 59 MPs and 24 ministers from the seven states. Now, the UPA — more or less the Congress on its own unlike last time when Lalu Prasad and Ram Vilas Paswan were allies — has 65 MPs from the seven states but the number of ministers is down to 16. Uttar Pradesh, once a kingmaker without which none could have become Prime Minister, will not have a single representative in the cabinet for the first time, although the Congress leapt from nine to 21 Lok Sabha seats in the state this time. Salman Khursheed, who was tipped to get a cabinet berth, was trumped hours before the list was out because a fellow MP and former minister, Sriprakash Jaiswal, wondered aloud why he was being passed over despite being a three-time winner. Khursheed's detractors in the party lent a hand to Jaiswal and had their way. Khursheed will now be a minister of state with independent charge. The fresh lot of 59 will take oath as ministers tomorrow by when the portfolios, including that of 13 cabinet ministers who were sworn in on Friday, are scheduled to be announced. Sources said the combination of an eagerness to "correct" past regional imbalances — the UPA alliance has done far better than expected in most southern states — and conflicting demands from Uttar Pradesh that could have upset rival caste formations made the Congress tread with caution on the state. Speculation also arose that the state was being kept as a stand-by just in case Rahul Gandhi had to be inducted into the cabinet later. Although the heartland did not dictate the ministry's composition, one of its key players did. Aware that BSP chief Mayavati was down but not deflated, the Congress has appointed several Dalits. Sushil Kumar Shinde and Meira Kumar, brought in the first round, were dubbed "token" representations. But the induction of Mallikarjuna Kharge, Mukul Wasnik, Kumari Selja and Krishna Tirath as cabinet ministers and minister of state with independent charge confirmed that the move was part of a strategy to try and reclaim the Dalit base that the Congress had yielded to the BSP, LJP and the RJD in Uttar Pradesh and Bihar. At the end of an improved showing in Uttar Pradesh and Bihar — although the Congress's increased vote share in Bihar did not yield seats – the party seemed reasonably sure of getting back its upper caste and Muslim votes. Which was why the absence of any Muslim from the heartland in the cabinet surprised some Congress leaders who had hoped that at least one, if not two, would make it. Of the five Muslim ministers in the council, only two, Ghulam Nabi Azad and Khursheed, are from the Congress. The other three -- Farooq Abdullah, E Ahamed and Sultan Ahmed – are from the National Conference, the Muslim League (Kerala) and the Trinamul Congress. Azad is the lone Muslim cabinet minister from the Congress. On May 16, as the Congress raced ahead of the BJP, there was a general consensus that the Muslims had played a big role in scripting its victory. OnMay 26, this point was underlined by six Muslim organisations, including the Jamaat-e-Islami Hind and the Religious and Linguistic Minorities Association. In an appeal to Sonia and the Prime Minister, issued in Delhinewspapers, their leaders asked for at least 11 ministers on the "principle of fair representation" and the need to empower the community.As regional and sectional interests were either kept aside or misplaced, the factional pulls and pressures within the Congress that had held upthe second list came into full play. Two former chief ministers,Vilasrao Deshmukh of Maharashtra and Virbhadra Singh of Himachal Pradesh,made the cut and increased the size of the "ex-chief minister club" in the ministry to nine. Deshmukh's Delhi debut six months after he was booted out in Mumbai raised eyebrows. The most charitable explanation in Delhi was the Congress needed a "big Maharashtra face" ahead of the state elections in October. But Deshmukh's inclusion did not come as a surprise for Congress leaders in Maharashtra who felt that he was sacrificed as chief minister as a damage-control exercise ahead of the Lok Sabha polls. Deshmukh, who turned 64 yesterday, stole the march over Latur compatriot Shivraj Patil as the party chose him over the Nehru-Gandhi family loyalist as a representative from Marathawada. "This is indeed a wonderful birthday gift and I am very happy. I thank Soniaji, Manmohan Singh and Rahul Gandhi for giving me this big responsibility. This is my first opportunity to work at the Centre, and I will try to use my administrative and political experience in New Delhi," said a beaming Deshmukh. Deshmukh, who had tirelessly campaigned during the general election, is also known as an advocate of the go-it-alone line in Maharashtra – a mantra that has gained currency in the Congress after Rahul Gandhi experimented with it. Besides, by keeping Deshmukh in Delhi till campaigning begins for the Assembly polls, the Congress is also hoping to minimise the intra-party squabbles with Narayan Rane. If a silver lining was to be spotted, it was in the overly large number of Lok Sabha MPs who made it today, unlike in the first round. Of the 59 names, only three – M.S.Gill, Prithviraj Chavan and Jairam Ramesh -- came from the Upper House.The first list had seven Upper House members among 19 ministers and had made restive battle-weary winners of a long and hard election. With inputs from Satish Nandgaonkar in Mumbai | |
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Mayawati is defeated in the First Ever Varna Yuddha, Open Caste War in the History of Indian Parliamentary democracy thanks to Caste Hindu Vote Polarisation against Dalit Empowerment, Manipulated by Desi Zionist Illuminati, India Incs, Toilet FDI fed Media, Civil society,Intelligentsia and Hindutva forces! Just in a way as they SAVED UPA Government aligning with NDA while the Left projected Mayawati, the Dalit Girl as the Next Prime Minister face. So they got unexpected results in Caste strife torn North India as UPA romped home with decisive Mandate to continue Mass Destruction!
Bengali Brahamin Pranab Mukherjee has been the Key man who won the caste war for the Ruling Brahaminical Hegemony and succeeded to defeat the reluctant LEFT as well.
Now Pranab emerges the Political face of DIVESTMENT,more political, strategic and human than Disinvestment, for hard sell of national resources and Production units depriving our people of JOB,Livelihood and Purchasing capacity for survival and sustenance!
Mayawati is stopped for the time being and she is not DEFLATED in any sense. So North India and Mayawati are TARGETED once again using the best toll traditional, Manmohan and Sonia Brigade co opts some Dalit Faces in the Cabinet to appease and divide the black Untouchables.
I have written and spoken so many times that Post Ambedkar Indigenous leaders failed to uphold the Ambedkar Ideology and legacy as the Indian Marxists deviated from Marxism!
This Ideological deviation is the mother of all Calamities as the Gang of Killers and Immoral Impostors,Washington slaves and LPG Mafia backed by Desi and Global Illuminati, Zionism and US Corporate Imperialism as well as Desi fascist Hindutva got FULL CONTROL in affairs related to this DIVIDED Bleeding Geopolitics. it turned out to be an INFINITE War Zone and our people have no OPTION but to wait for their TURN to be Killed!
DR BR Ambedkar was a national Leader as Netaji Subhash Chandra Bose, MD Ali Jinnah and Deshbandhu CR das had been.
DR Ambedkar won TRADE UNION Right for us. Ensured Hindu Code and maternity leave for our enslaved Sudra women. Fixed eight hours working time. His work as the labour Minister in British council of Minister is NEVER kept in Mind and he has been Portrayed a DISASSOCIATED personality from the Productive forces! This is the Greatest Hinderance that our people constituting most of the Productive and Social forces failed to mobilise themselves against LPG Mafia and the KILLER Money machine! We just became habitual to bear with the Leftist Trade Unions forgetting the role of Ambedkar in trade Unions Movements and the Marxists, led by Bengali and Malayali Brahmans BETRAYED. for last Forty years they are TAGGED with Bargaining and coalition formula and kept the Trade Union as well as Peasant and student Movement into deep FREEZE! Lest they should COME OUT in resistance,so the Manusmriti Hegemony of UPA and NDA chalked out HUNDRED days` plan dictated by India Incs for the FINAL KILL.
In Bengal, sizable section of BRAHAMINICAL Hegemony and civil society stood Rock solid with Resistance Face MS Mamata Bannerjee and her Trinamul congress to VOTE OUT the Marxists!
But eventually Mamata and TMC also Joined the KILLERS Gang as they never had any Political or Social or Economic Vision or willpower to liberate the Majority Indigenous and Aboriginal communities Enslaved! Mamata , in hand in Hand with Pranab Mukherjee may no prove SAVIOUR of black Untouchables what if the MATUAS led by Thakurnagar Hegemony rally behind her.
Kolkata Civil society and Intelligentsia never stood with us for our Citizenship, Reservation,Civil and Human rights. they rejected the EXISTENCE of OBC in Bengal. they practice Scientific UNTOUCHABILITY co opting the best amongst us! They deny any SPACE for the Black Untouchables in any sphere of life! they Kept MUM for SIX decades about the PLIGHT of our People scattered systematically to monopolise Brahamincal state Power and Culture and Nationality and Mother Tongue. They remained silent for THIRTY years against ETHNIC CLEANSING in Marichjhanpi by comrade Jyoti Basu assisted by ASHOK MITRA and BUDDHADEB!
AILA exposed the METRO based media and CIVIL Society once again. They have no tears for the Black UNTOUCHABLES WHO LIVED IN MORE THAN SEVENTY Villages adjoining SUNDER VANA, WSHED OUT.
They keep on CRYING for ELECTRICITY and Water for the PRIVILEGED Metro and SUBURBAN!
They have not a DROP of TEAR for the DEAD and INJURED and launched an ELECTIONEERING Campaign eying Corporation and Assembly Elections shaped in COMPASSION COMPETITION so NAKED.
I am afraid that MOBILISATION of Black UNTOUCHABLES against LPG ANTI NATIONAL Mafia is very TOUGH in Bengal as well as in north India for the same reason as we never try to UNDERSTAND the AMBEDKAR Ideology. Since Dr Ambedkar was elected to the Constituent Assembly defeating PR Thakur, the Grand son of GURUCHAND Thakur, Matuas never follow AMBEDKAR! Two Hundred years of DALIT Renaissance in Bengal failed to invoke the Black Untouchables in Bengal as PR Thakur Family joined CONGRESS.Now they affiliate themselves with MAMATA Bannerjee, the best associate of PRANAB MUKHERJEE. Matua Mother BADO MAA appeals MAMATA to solve the Dalit Refugee Problems as Three CORORE Matuas support TMC as she claims!
Just remember the role of the Power Axis of PRANAB ADWANI and BUDDHA in nationwide DEPORTATION DRIVE against Bengali refugees.
What change?
Only change I see that MAMATA takes the place of BUDDHA in the AXIS!
Dr AMBEDKAR pleaded for ANNIHILATION of Caste and struggled for Caste less classless Society based on EQUALITY and Fraternity and Justice.
DR Ambedkar NEVER supported Caste System or CASTE Hegemony.
BUT POST AMBRDKAR Movement is all about a DALIT HEGEMONY to replace BRAHAMINICAL Hegemony sustaining the Caste System, Manusmriti Rule, LPG mafia ,SEGREGATION of OBC and TRIBALS and Minorities!
Hence UPA as well as NDA and the MARXISTS do SUCCEED to sustain the GREAT caste DIVIDE to defeat and kill our people!
Meanwhile, The Union Council of Ministers was expanded on Thursday with the induction of 59 ministers including three former chief ministers Vilasrao Deshmukh, Farooq Abdullah and Virbhadra Singh at the Cabinet level.
In all, 14 cabinet ministers, including DMK nominees M K Alagiri, Dayanidhi Maran and A Raja, and Congress' Mallikarjun Kharge were sworn in by President Pratibha Patil, six days after Prime Minister and 19 others took oath in the first instalment.
Seven Ministers of State with Independent Charge, including Praful Patel of NCP, Prithviraj Chavan, Salman Khursheed and Jairam Ramesh and 38 Ministers of State were also sworn in at a ceremony in the Rashtrapati Bhawan attended among others by Vice President Hamid Ansari, Prime Minister Manmohan Singh and Congress President Sonia Gandhi.
With Thursday's induction, the strength of the Union Council of Ministers goes up to 79, including the Prime Minister, the same as the previous UPA government after the exit of Shivraj Patil.
M S Gill, Selja, Subodhkant Sahay, G K Vasan, Pawan Kumar Bansal, Kantilal Bhuria were the other cabinet ministers inducted today, all from Congress who have been elevated from the status of Ministers of State. Mukul Wasnik, an MoS in the P V Narasimha Rao government, has been brought in as a Cabinet Minister.
Sriprakash Jaiswal and Dinsha Patel have been elevated as Ministers of State with Independent Charge while Delhi MP Krishna Tirath makes her ministerial debut in the same category.
Prominent among the new ministers who were sworn in were Shashi Tharoor, a former UN diplomat who won from Thiruvananthapuram, Sachin Pilot and Praneet Kaur, wife of former Punjab Chief Minister Amarinder Singh, and Agatha Sangma, daughter of former Lok Sabha Speaker P A Sangma.
The expansion also saw induction of six Trinamool Congress MPs, four from DMK and one from Muslim League.
Of the 14 new Cabinet ministers, Kharge, a senior leader from Karnataka, Selja and Wasnik belong to Scheduled Caste while Bhuria belongs to Scheduled Tribe. Tirath also belongs to Scheduled Caste.
Deshmukh, who belongs to dominant Maratha caste, had to quit as Chief Minister in the aftermath of terror attack in Mumbai in November last year.
The other Ministers of State who would be sworn in are E Ahamed (Muslim League), V Narayanasamy, Namo Narain Meena, Srikant Jena, Mullapally Ramachandran, A Sai Prathap, Harish Rawat, D Purandeswari, Panabaka Lakshmi, Ajay Maken, Gurudas Kamat, K H Muniyappa, Jyotiraditya Scindia, Jitin Prasada, M M Pallam Raju, Mahadev Khandela, and K V Thomas (all Congress).
Sensex up 1.3 pct; Reliance, L&T lead
Reuters
Posted: May 28, 2009 at 1302 hrs IST
Mumbai The BSE Sensex shrugged off a shaky start and rose 1.3 per cent on Thursday, as investors covered short positions on the last day of monthly derivatives contracts.
Energy giant Reliance Industries and leading engineering and construction firm Larsen & Toubro led the gains.
"Today, anything that happens will depend on the derivatives expiry," Arun Kejriwal, strategist at research firm KRIS, said.
By 12:12 p.m., the 30-share BSE index was up 1.3 per cent at 14,289.64 points, with 24 stocks advancing, after briefly turning negative in early deals.
The benchmark has gained three-quarters of its value from a 2009 low in early March, riding a global rally and fuelled by about $5.5 billion of investments from foreign funds.
Expectations are high after the Congress party-led coalition won a second term and Finance Minister Pranab Mukherjee said the government needed to push long pending reforms in the financial sector and in the real economy to support growth.
India's annual inflation was at 0.61 per cent in the 12 months to May 16, matching the previous week's annual rise, government data showed on Thursday.
Reliance, which has the most weight in the main index, rose 1.6 per cent to 2,222.10 rupees, while Larsen gained 2.8 per cent to 1,348.50 rupees ahead of its financial result.
Top telecoms firm Bharti Airtel, which is in merger talks with South Africa's MTN, advanced 2.8 per cent to 790.35 rupees after falling over 10 per cent in the past three sessions.
In the broader section, gainers led losers by more than 1.5 to 1 on relatively heavy volume of 317.1 million shares.
The 50-share NSE index was up 0.7 per cent at 4,306.55.
Stock prices zoom as promoters up stake 28 May 2009, 1227 hrs IST, Prashant Mahesh, ET Bureau | ||||||||
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| MUMBAI: Stocks where promoters have increased stake via the creeping acquisition method during September-March 2009 seem to be catching the eyes Stocks of several large-cap companies and mid-cap companies, where promoters have increased stake, have moved up during the current rally reflecting investor confidence. As per Sebi regulations promoters can increase their stake through the open market by 5% every year. Clearly, it was a tough period for both the Indian as well as global economy. Capital was scarce and big economies like the US had to pump in several billion dollars to bail out companies. Despite these tough conditions , globally several promoters have raised stake, inspiring confidence in the company. While in cases where shareholding is low, an increase in holding helps a promoter ward off any takeover threat, otherwise too, an increase in stake is perceived positively by investors as it indicates confidence of a promoter in his own company. Take the case of Reliance Communications , where the promoters have marginally increased their stake by 1.22% by buying 2.05 crore shares, saw its stock price spurt from Rs 232 to Rs 304, a rise of 31%. Mahindra and Mahindra promoters bought 1.29 crore shares, increasing the promoter stake to 29.20%, with the stock moving up from Rs 514 to Rs 626, a gain of 22%. RPG Group company, Ceat, where the promoters holding increased by 4.82% to 48%, by buying 16.5 lakh shares saw its stock price increase from Rs 58 to Rs 88, a gain of 83%. Aditya Birla Nuvo, where the promoters bought 12.5 lakh shares, or increased their stake by 1.32%, saw its price move from Rs 550 to Rs 872, a whopping 58%. Videocon Industries saw the promoter buying 9 lakh shares during the period . The stock price moved up from Rs 114 to Rs 169, a rise of 48%. Tata Elxsi, where the promoters bought 1.38 crore shares, saw its price moving from Rs 124 to Rs 150 a gain of 21%. Bajaj Hindusthan, where the promoters bought 10 lakh shares, saw its price spurt from Rs 108 to Rs 136, a gain of 26%. Besides this, there are a host of mid-cap companies, where promoters have increased their stake by buying from the open market. Some examples are Simplex Infra, where promoters increased their stake by 4.8% saw its price zoom from Rs 211 to Rs 390, an 85% gain and Vinati Organics where promoters increased stake by 3.74% saw its stock price rise from Rs 90 to Rs 130, a gain of 44%. JBF Industries , in which promoters increased their stake by 4.74% to 42.92%, saw its stock move from Rs 43 to Rs 67, a gain of 56%. "A promoter best knows what is happening in the company and if he is increasing his stake in the company, it shows great confidence and increases investor faith" , says Alok Churiwala, managing director, Churiwala Securities. | ||||||||
| SEBI may relax rules to help companies raise funds for their arms 28 May 2009, 0704 hrs IST, Reena Zachariah, ET Bureau MUMBAI: The Securities and Exchange Board of India (Sebi) is considering a proposal to exempt infrastructure companies from the current rule that Industry officials say the move is aimed at boosting the corporate debt market by making it easier for companies to tap this mode of fund raising. Also, many infrastructure companies are waiting to tap the debt market to fund their projects housed in special purpose vehicles. "We have received requests to relax the norms for infrastructure companies...we are examining the issue," said a Sebi official. Most infrastructure companies follow the holding company and special purpose vehicle (SPV) structure because of the nature of the business. Funding requirements vary from project to project, and so the company undertakes different projects in various SPVs. Since SPVs do not have a strong credit rating on their own, it becomes difficult for them to raise money by issuing bonds. Also, the debt requirement may not be large enough to justify a public issue of debt. "In the long term, we believe mainly NBFCs (non-banking finance companies) and infrastructure companies will tap the public issue of debt market, so it is important that the regulatory bottlenecks related to these two sectors are removed," said a senior banker. "The highest amount of money required by any sector is infrastructure...and a lot of companies want to raise money from the public," the banker added. Some market watchers warn there could be diversion of funds by large companies, and also, easier fund-raising norms would encourage excess leveraging. Those in favour of easier norms say these pitfalls can be avoided by way of better disclosures by the companies raising the money. At present, disclosure norms require the issuer to give the debt equity ratio prior to and post the issue. In a parallel development, related to the corporate debt market, Sebi is likely to make it mandatory for institutions apart from primary dealers (PDs) to settle their trades through the new clearing mechanism introduced by RBI. Presently, corporate bonds are traded over the counter (OTC) in the local market. Mutual funds, primary dealers and banks trade between each other through the intermediation of brokers — but there is no central party to guarantee settlements. Recently, the central bank said clearing houses of exchanges will now have a transitory pooling account facility with RBI. | ||||
http://economictimes.indiatimes.com/Stock-prices-zoom-as-promoters-up-stake/articleshow/4587426.cms
Economic reforms the next stimulus: PranabBusiness Standard - 13 hours ago "Sustained stimulus to growth can be harnessed by the next round of economic reforms. We have a broad plan of action in mind," Mukherjee told reporters in ... Govt to push ahead with long-pending reforms Hindu Business Line 'Govt will talk to banks to cut interest rates' Times of India India to Boost Growth Via Borrowing, Reforms Wall Street Journal Shankar Acharya: Stability, security and stasis?Business Standard - 13 hours ago Was it also a vote for strong economic reforms? The stock markets seemed to think so as the Sensex soared above 14000 on the Monday (18th) following the ... A case against market reforms Livemint Next chapter on economic reformsEconomic Times - May 23, 2009 Former finance minister and senior BJP leader Yaswant Sinha says that the BJP would extend support to some of the reforms that the government may initiate ... Expect continuity, not radical reform Times of India High expectations this time Malaysia Star Malaysia economy slumps in Q1 most in decadeguardian.co.uk - 21 hours ago At the same time as implementing economic reforms and reinvigorating the National Front coalition that has ruled Malaysia for 51 years, Prime Minister Najib ... India faces challenges on macroeconomic policies, reforms: Moody`sIndia Infoline.com - 4 hours ago ... of macroeconomic management and a backlog of structural reforms. The report's key arguments include the constraint exerted on India's economic potential ... Moody's to Take Fresh India Ratings Call After Budget Wall Street Journal Rupee snaps 2-day fall, gains 22 paise against dollarPress Trust of India - 18 hours ago Foreign institutional investors are said to be stepping up their capital inflow into Indian equities on hopes for further economic reforms by the new ... Rupee may rise to 46/$ in 12 months: Goldman Sachs Business Standard Rupee weaker on global cues Economic Times Indian rupee loses steam after six-day rally Reuters India India is open for businessThe Age - May 25, 2009 Liberal economic reforms in India underpin economic growth and these changes are largely the work of the Congress Party, led by Sonia Gandhi, which has the ... Mr. Singh's History Lesson Wall Street Journal Deepak Lal: Tasks for an emerging superpower Business Standard Economists expect more reforms from PranabIndian Express - May 24, 2009 Mukherjee is a reform-minded person and I expect economic reforms to go forward during his tenure," ICRIER Director Rajiv Kumar said. ... India vows to protect economy Gulf Times '84 budget was precursor to Manmohanomics Times of India Dealing With Economic CrisisKorea Times - May 27, 2009 First of all, the government should introduce bolder economic reforms and open the domestic markets wider to foreign competition. On the macroeconomic front ... New govt to accelerate reform process & create more jobsEconomic Times - May 19, 2009 Besides pushing for economic reforms, he stressed on the need to revitalise agriculture and accelerate industrial development. ... Election Results Fuel Optimism For Economic Reforms in India Washington Post Congress victory to support Indian economic reform agenda The Australian India election paves way for economic reform The Associated Press |
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India came close to striking Pak after 26/11: Air chief 28 May 2009, 1202 hrs IST, TNN | ||||||||
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| NEW DELHI: India came close to striking Pakistan following the 26/11 Mumbai terrorist attack. This was stated by the IAF chief, Air Chief Marshal
"There were certain options, which were certainly discussed. Depending on the objective and the task given, IAF had enough intelligence to do what it wanted to do then," ACM Major told reporters here during a joint press conference with his successor and IAF chief-designate Air Marshal P V Naik. ACM Major, however, said at present the situation along the international border and the LoC was normal. In the eastern sector along the India-China border, ACM Major said the IAF is building landing infrastructure and will shortly move a Sukhoi-30 squadron to counter Chinese defence superiority in the region. The newly-raised squadron of Su-30 will arrive at IAF's Tezpur base in the next few weeks, he said. Commenting on the recent Sukhoi crash, the air chief said an inquiry is still on and the crash data recorder is yet to be analysed. The death of the pilot in the crash has raised questions on the ejection system and the inquiry has to look into this aspect along with the flight control system to analyse the cause of the crash. ACM Major's successor, Air Marshal Naik, said IAF is building up capacity and after 2017 it will be capable of handling threats coming from anywhere. To boost its combat capabilities, IAF will go in for large scale procurements. India has already released two global tenders for the procurement of 22 attack and 15 heavy-lift helicopters for IAF. "The Request for Proposals (RFP) for 15 heavy-lift helicopters is being issued today and the RFP for 22 combat helicopters was released yesterday," ACM Major said. The choppers participating in the combat attack contract include Bell's AH-1 Super Cobra, Boeing's AH-64 Apache, Eurocopter's Tiger, Russian Mil for Mi-35 and Agusta Westland's Mangusta. The RFP for attack helicopters comes within two months of the previous tender being cancelled. The earlier tender was cancelled in March after the American vendors opted out of the race, citing the 50% offsets clause in the contract. The heavy-lift helicopters will be used for transporting men and material in the high altitude regions, which can be accessed only by helicopters. | ||||||||
Disinvestment as a tool to shore up revenue 28 May 2009, 0320 hrs IST, Tina Edwin, ET Bureau | ||||||||
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| The return of the UPA government sans the Left parties has raised hope that disinvestment will be firmly on the agenda. After all, disinvestment
The party has voted for wider participation of the people in the equity base of the state-owned companies in its manifesto. However, that does not guarantee smooth sailing for public offers of PSUs, both initial public offers (IPO) and follow-on offers (FPO). There are already voices of dissent emanating from the Trinamool Congress camp. The party has said it will oppose any move to disinvest PSUs or strategic sales of profitable PSUs. Pre-poll ally DMK too has a track record for opposing sale of shares of entities such as Neyveli Lignite Corporation. In its first term, the UPA government was forced to call off plans to sell 10% equity of the PSU amid opposition from the southern ally. Earlier, as an alliance partner in the NDA, the party had successfully thwarted disinvestment of the company. It is very unlikely that party patriarch M Karunanidhi would have changed his stance on disinvestment of PSUs based in Tamil Nadu. Therefore, markets would do well to temper its expectations on disinvestment a little bit. The past experience should also serve as a lesson on how the government should not go about with disinvestment process.
The finance ministry, which now has the charge of disinvestment, must take the administrative ministries, stakeholders, including employees, and the Congress party as well as its alliance partners along to ensure the process of selling shares of companies is not torpedoed this time. For, unlike in the previous term when revenues were buoyant and the economy robust, the government finances are now under stress. To keep up spending on its various social sector programmes without further deterioration of budget balances, the Centre would need capital receipts from the sale of shares of PSU. However, to get access to the proceeds of disinvestment for its expenditure plans, the government must scrap the National Investment Fund (NIF), a fund to which disinvestment proceeds are transferred. This fund was set up to appease the Left partners. The NIF is outside the Consolidated Fund of India, meaning the receipts from sale of shares are not reflected in the Union budget. Further, only earnings on proceeds transferred to the NIF can be used for social sector schemes, that promote education, health and employment. That translates to a small amount. The finance ministry has reportedly drafted a proposal to scrap the fund. Apart from narrow purpose of finding resources for expenditure plans, disinvestment can be an effective tool to enforce market discipline in the PSUs. Once listed, the PSUs will be open to public scrutiny. It will have to comply with the requirements of the Sebi and the stock exchanges, which includes quarterly release of their income statements and timely dissemination of market-sensitive information. The government also needs to ensure that listing is more meaningful, with adequate free-float to curb sharp movement of stock prices. In a large number of cases, less than 5% of the shares are listed. Such poor liquidity of a company's shares have in the past resulted in manipulation of stock prices. For instance, consider the sharp spike in MMTC stock price to more Rs 55,000 on November 12, 2007 from about Rs 13,000 in early October 2007, and the consequent slump to a level of about Rs 20,000. This can to some extent be attributed to few shares available in the market — only 0.66% of the shares of the PSU are widely held. Besides the government, as the Congress manifesto has rightly identified, the common man would be the main gainer of the disinvestment process. It will provide individuals an opportunity for create wealth for themselves, as experience shows the government leaves something on the table for investors. And, there is enough appetite for government stocks from the retail and institutional investors. All the share offerings from the government since February 2004 were oversubscribed many times over and most of them continue to trade above the issue price despite the deep correction in the market. The finance ministry and other administrative ministries such as power ministry are reportedly drawing up a list of PSUs that can be taken to the market with either an IPO or a FPO. That is an encouraging move. The only trouble with using the disinvestment process to shore up government finances is that it reduces incentive to cut wasteful spending and continue on the path of fiscal consolidation. | ||||||||
http://economictimes.indiatimes.com/Economy/Disinvestment-to-shore-up-revenue/articleshow/4586644.cms
Reforms, core to top budget to revive economy 28 May 2009, 0236 hrs IST, Urmi A Goswami, ET Bureau | |||||||||
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| NEW DELHI: The full Budget for 2009-10 to be presented in the first week of July would have welfare measures for the poor, concrete reform moves,
Mr Mukherjee, in his first press conference after assuming office, said the government will present its vision and approach for the next five years in the Budget. Separately, it will get commitments from banks to lower the cost of funds. "Broadly, the election results have vindicated the strategy of inclusive growth. I have no hesitation in saying that along with reviving the momentum of growth and employment generation, our government will strengthen the various 'inclusive' elements in the coming Budget," said Mr Mukherjee. The Congress party's manifesto promises to expand the schemes on creating rural jobs, providing education and health insurance cover, besides legally guaranteeing food to the poor. The minister said budget-making was underway in full swing and that it would be presented in the first week of July. The government has to continue with a higher spending this fiscal, too, in order to restore the higher economic growth rate in the past, the 73-year-old political veteran said. "Let me say unambiguously that we are committed to restoring growth and employment and that would not have been possible without increased spending funded by incremental borrowing. This would need to be further continued in 2009-10, the current year," Mr Mukherjee said. The government, which earlier announced three economic stimuli, will provide sustained stimulus to growth by the next round of economic reform. "We have a broad plan of action in mind. I will get additional inputs when I have my pre-Budget consultations with stakeholders. All this will be distilled into a concrete short-term and medium-term vision and strategy for India's economic growth," assured the minister. Finance secretary Ashok Chawla, who accompanied the minister, later explained to reporters that the slowdown in growth has "bottomed out" and a recovery was imminent. Four lead economic indicators suggest the economy was set to grow faster, he said. Besides, foreign institutional investments into the country have picked up, with the total inflow in the past 45-50 days touching about $4 billion, said Mr Chawla. Mr Mukherjee also said the government was concerned about the cost and the speed at which finance can be accessed by businesses. He said he would meet bankers and get them "committed to a more benign plan of action". The government will also give special attention to strengthening in-frastructure investments. The government will reappraise infrastruc-ture projects in the pipeline and make them more robust. The Centre would also calibrate policies to boost infrastructure spending so that the economy returns to the high-growth trajectory. Despite the higher spending, the government is equally committed to fiscal consolidation over a period of, say, 2-3 years, the minister added. In the interim budget presented in February, the government had es-timated that fiscal deficit for 2008-09 may touch 6% of gross domestic product (GDP) and it forecast a 5.5% fiscal deficit for this year. Economists said the combined fiscal deficit of the Centre and states may have crossed 10% of national GDP last fiscal. "Prophets of doom have been unduly focusing on increased public spending and conse-quent increase in the fiscal and revenue deficits in the past. We are hopeful that an early return to our recent growth performance will help us come back to our preferred path of fiscal prudence," said the minister. The government had originally set a fiscal deficit target of 2.5% for the last fiscal. Mr Mukherjee said the government would take advantage of its politi-cal stability and push long-pending reforms. These measures would cover both financial and non-financial sectors of the economy. One of the immediate steps would be to implement the law against money laundering, he said. stakes in the Congress. With the Congress crossing the 200-mark on its own, Rahul's personage, so evocative of Babalog socio-culture, may become the new face of the Congress. The junior Gandhi, who's gone through the fire of political exorcism, has ushered in a real tomorrow for the grand old party. | |||||||||
Welfare measures for poor in the budget: FM 27 May 2009, 1930 hrs IST, ET Bureau | ||||||||
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| NEW DELHI: Finance 
In his first public address after taking charge, Mr Mukherjee said the government would present its vision and approach for the next five years in the forthcoming budget. Separately, the government will get commitments from banks to lower the cost of funds. "Broadly, the election results have vindicated the strategy of inclusive growth. I have no hesitation in saying that alongwith reviving the momentum of growth and employment generation, our government will strengthen the various 'inclusive' elements in the coming budget," said Mr Mukherjee. The Congress party's manifesto promises to expand the schemes on creating rural jobs, providing education and health insurance cover, besides legally guaranteeing food to the poor. The minister said budget-making was underway in full swing and that it would be presented it in the first week of July. The government has to continue with a higher spending this fiscal too in order to restore the higher economic growth rate in the past, the 73-year old political veteran said. "Let me say unambiguously that we are committed to restoring growth and employment and that would not have been possible without increased spending funded by incremental borrowing. This would need to be further continued in 2009-10, the current year," Mr Mukherjee said. The government, which earlier announced three economic stimulus doses, will provide sustained stimulus to growth by the next round of economic reform. "We have a broad plan of action in mind. I will get additional inputs when I have my pre-budget consultations with stakeholders. All this will be distilled into a concrete short-term and medium-term vision and strategy for India's economic growth," assured the minister. Finance secretary Ashok Chawla, who accompanied the minister, later explained to reporters that the slowdown in growth has "bottomed out" and a recovery was imminent. Four lead economic indicators have suggested that the economy was set to grow faster, he said. Besides, foreign institutional investments into the country have picked up, with the total inflow in the last 45-50 days touching about $ 4 billion, said Mr Chawla. Mr Mukherjee also said the government was concerned about the cost and the speed at which finance can be accessed by businesses. He said that he would meet bankers and get them "committed to a more benign plan of action." The government will also give special attention to strengthening infrastructure investments. The government will re-appraise infrastructure projects in the pipeline and make them more robust. The Centre would also calibrate policies to boost infrastructure spending so that the economy returns to the high growth it posted in the previous years. Despite the higher spending, the government is equally committed to fiscal consolidation over a period of say 2 to 3 years, the minister added. In the interim budget presented in February, the government had estimated that fiscal deficit for 2008-09 may touch 6% of gross domestic product (GDP) and it forecast a 5.5% fiscal deficit for this year. Economists said the combined fiscal deficit of the Centre and the states may have crossed 10% of the nation's GDP last fiscal. "Prophets of doom have been unduly focusing on increased public spending and consequent increase in the fiscal and revenue deficits in the past. We are hopeful that an early return to our recent growth performance will help us come back to our preferred path of fiscal prudence," said the minister. The government had orignially set a fiscal deficit target of 2.5% for the last fiscal. Mr Mukherjee said the government will take advantage of its political stability and push the long pending reforms. These measures would cover both financial and non-financial sectors of the economy. One of the immediate steps would be to implement the law against money laundering, he said. | ||||||||
http://economictimes.indiatimes.com/News/Economy/Policy/Reforms-core-to-top-budget-to-revive-economy/articleshow/4586604.cms
Mulayam proposes Jai Prakash centre; Maya disposes Ambedkar site waste there
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Lalmani Verma
Posted: May 24, 2009 at 0244 hrs IST
Lucknow The state government has converted the site of Jai Prakash Narain International Centre (JPNIC), a project started by former chief minister Mulayam Singh Yadav, into a dumping ground for debris removed from the site of a memorial being built by the Mayawati government.
The Mulayam government had reserved a three-acre plot opposite Regional Passport Office (RTO) in Gomti Nagar for JPNIC in 2006. The JPNIC building was proposed to house two auditoriums, a library and an art gallery at a cost Rs 17 crore, of which Rs 2 crore were released immediately to kick-start the construction.
UP Rajkiya Nirman Nigam (UPRNN) had prepared the foundation for basement of JPNIC building. The centre was aimed to promote socialism and Gandhian thoughts. But with the change of guard in 2007, the project came to a halt. Now, the UPRNN has levelled the basement with debris and stones.
UPRNN is dumping here debris, stones, iron rods, grills and other waste collected from demolition and construction work at 2-Mall Avenue — where first the government razed down the Cane Commissioner's office building and is now constructing Manyawar Kanshiram Vishram Sthal. Sources said the waste collected from Bhagidari Bhawan near Ambedkar Memorial is also being dumped at this site.
UPRNN Managing Director CP Singh said, "I have no idea about the status of Jai Paraksh Narain International Centre or if any debris was being dumped there."
Another UPRNN official said, "JPNIC site is being utilised for dumping waste. Whenever construction of JPNIC starts, debris will be removed from there." The official said for the time being, the place is also being used to store grills, stones, iron shades and tree guards, which are being removed from sites of other under-construction projects.
At present, a new store room is being erected at JPNIC site. According to security staff deployed here said, "The room will be used to store the stuff shifted from other projects. Debris and other materials are being brought here in trolleys every day and this is happening from several weeks," said a guard.
Meanwhile, the parking slot at Gate No. 4 of Ram Manohar Lohia Park, a dream project of Mulayam Singh Yadav — has become workshop for carving of sand stones. Carved stones are being used in construction of adjacent administrative block of Ambedkar Memorial, a multi-crore dream project of Mayawati, which is being constructed after the demolition of Police Crime Branch office.
Public is allowed to enter the park from this gate but parking of vehicles has been restricted. An LDA employee said, "Parking of vehicle has been restricted in the parking slot because stones are scattered there. But we are allowing two-wheelers to be parked inside entrance plaza."
LDA joint director (Land and Development) S B Mishra said, "I have no information about it. Talk to executive engineer concerned."
Executive engineer RN Singh said, "Parking has not been closed there. The LDA needed a place to store the stones and so parking slot was provided. It will be opened for public very soon."
Pak has 60 nuke bombs and building more: Report
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Agencies
Posted: May 28, 2009 at 1029 hrs IST
Washington Pakistan with about 60 nuclear warheads, primarily targeted towards India, is continuing production of fissile material for weapons and adding to its weapons production facilities and delivery vehicles, a US Congressional report has said.
The latest report by Congressional Research Service (CRS) - a research wing of the US Congress which prepares reports for Congressmen - has confirmed the recent statements and media reports that Pakistan was expanding its nuclear arsenal.
"Pakistan's nuclear arsenal consists of approximately 60 nuclear warheads. It continues fissile material production for weapons, and is adding to its weapons production facilities and delivery vehicles," said the report "Pakistan's Nuclear Weapons: Proliferation and Security issues", which was issued today for media.
Admiral Mike Mullen, Chairman of the US Joint Chiefs
of Staff, at a Congressional hearing on May 14 had confirmed that the US has "evidence" that Pakistan is expanding its nuclear arsenal. Also, a similar report was published in 'The New York Times' early this month.
Pakistan stores its warheads unassembled with the fissile core separate from non-nuclear explosives, and these are stored separately from their delivery vehicles, it said.
Pakistan does not have a stated nuclear policy, but its "minimum credible deterrent" is thought to be primarily a deterrent to Indian military action.
"Deterring India's nuclear weapons and augmenting Pakistan's inferior conventional forces are widely believed to be the primary motivation for Islamabad's nuclear arsenal," the CRS said.
The report further states that Islamabad gained technology from many sources including uranium enrichment technology from Europe, blueprints for a small nuclear weapon and missile technology from China.
Pakistan's nuclear warheads use an implosion design with a solid core of highly enriched uranium (HEU), about 15-20 kg per warhead and "Islamabad continues to produce about 100 kg of highly enriched uranium for weapons every year," the report said.
Referring to expansion of Khushab plutonium production reactor - by adding two additional heavy water reactors with Chinese help - the report said "the continued expansion of the complex and production of weapons materials could indicate plans to increase its nuclear weapons arsenal in the near future."
The CRS reports that even as Pakistani officials have said that they have already determined the arsenal size needed for a minimum nuclear deterrent and they will not engage in an arms race with India, all indications were otherwise. Mullen also confirmed that the US has "evidence" that Pakistan was expanding its nuclear arsenal and construction of additional nuclear reactors were a pointer in that direction.
The CRS said that Pakistan has pledged no-first-use against non-nuclear weapon states, but not ruled out first -use against a nuclear-armed aggressor that attacks Pakistan for example, India.
This ambiguity serves to maintain deterrence against India's conventional superiority. Others argue that keeping the first-use option against New Delhi allows Islamabad to conduct sub conventional operations, such as support for low intensity conflict or proxy war in Kashmir, while effectively deterring India at the strategic level.
"Pakistan has reportedly addressed issues of survivability through second strike capability, possible hard and deeply buried storage and launch facilities, road-mobile missiles, air defenses around strategic sites, and concealment measures," the CRS said in its report.
Tilts in Cong's balancing act
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Express news service
Posted: May 28, 2009 at 0943 hrs IST
New Delhi With personalities seemingly becoming an important factor in the allocation of ministerial berths, the new Union Council of Ministers reflected imbalance in terms of the representation of states.
While Maharashtra, where the Congress and the NCP together got 25 seats, will end up with nine ministerial berths, including five in the Cabinet, Uttar Pradesh where the Congress won 21 seats will have just five ministerial berths with no representation in the Cabinet.
On the other hand, from Karnataka, where the Congress tally came down from nine MPs in 2004 to six in 2009, there were four ministers, including three in the Cabinet—S M Krishna, Veerappa Moily and Mallikarjun Kharge. There was, however, only one minister from Haryana where the Congress won nine seats.
The Congress must have routed the Left in Kerala, but in terms of Cabinet representation the party opted for Rajya Sabha members including A K Antony and Vayalar Ravi. There will be four Ministers of State from Kerala though, including one from ally Muslim League.
Orissa and Gujarat will however have no representation in the Cabinet. Gujarat will have to suffice with one MoS (Independent charge) in Dinsha Patel plus three other Ministers of State. Srikant Jena, Orissa's lone representative in the Council of Ministers, is also said to be sulking as the former Cabinet Minister will now be an MoS.
The Northeastern states together will have just three berths — B K Handique from Assam in the Cabinet and Agatha Sangma and Vincent Pala from Meghalaya as MoS.
With the inclusion of Farooq Abdullah in the Union Cabinet, Jammu & Kashmir will get two representatives, the other being Ghulam Nabi Azad. A section of the party is now concerned about the absence of any Hindu representative from the state in the Council of Ministers.
There are two Cabinet Ministers from Himachal Pradesh— Virbhadra Singh and Anand Sharma—though the Congress won just one Lok Sabha seat in the state.
With Jharkhand looking set for snap polls, Subodhkant Sahay, the lone party MP from the state, has been elevated to the Cabinet.
Meanwhile, some Congress chief ministers were said to have reservations about the selection of ministerial candidates. Kumari Selja, who was elevated to the Cabinet and who was the lone representative from Haryana, is not known to have great equations with CM Bhupinder Singh Hooda. Similarly, first-term MP from Rajasthan C P Joshi, who was given a Cabinet berth, is not in the good books of Chief Minister Ashok Gehlot. Vilasrao Deshmukh's inclusion in the Cabinet is also likely to cause discomfort to CM Ashok Chavan who is no longer in the best of terms with his predecessor.
Antony 'anguished' at delay in supply of military equipments
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Agencies
Posted: May 28, 2009 at 1230 hrs IST
New Delhi Anguished over delays in procurement and supply of military equipment, Defence Minister AK Antony urged foreign vendors, including those from Russia and Israel, to stick to deadlines.
Stepping up pressure on foreign countries, Antony said, "I convey my anguish to foreign vendors, including Russia and Israel, on the delays in delivery of defence equipment. They have to try and deliver the defence equipment on time."
Russia and Israel are the two largest military suppliers to India. New Delhi had recently signed contracts with Tel Aviv for supply of Medium Range Surface-to-Air Missiles worth Rs 7,500 crore and with Russia for design and development of fifth general fighter aircraft and medium transport aircraft.
Formally inducting the Israeli-built Airborne Early Warning and Control Systems (AWACS) into the Indian Air Force at Palam airbase in New Delhi, Antony, who deviated from his written speech, said: "Through the Ambassadors of the two countries, who are present here, I request the foreign countries for cooperation in meeting delivery schedules of AWACS and other equipment so that the Indian armed forces get the latest, modern weapons systems in time."
Indian defence procurement is expected to touch about USD 100 billion in the next 10 years, and several foreign companies including those from the Americas, Europe and Asia are vying with each other for a big chunk of the deals for themselves.
Antony also conveyed his dismay over the delayed delivery of the AWACS that were originally scheduled to arrive in India about 18 months ago.
He said India had signed the tripartite contract with Israel and Russia for the AWACS in 2004 and it took about five years for delivery of the first of these sophisticated 'eye in the sky' system.
However, he said the problem of delayed delivery was a cause for concern with not just the two major suppliers, but with other countries too, though he did not name the US, France, Britain and Italy, who handle the rest of the defence contracts in India.
The Minister said Defence Secretary Vijay Singh would be leaving for Russia this Sunday to hold talks over the inordinate delays in supply of defence equipment, in particular the Gorshkov aircraft carrier price renegotiation and to press for the timely supply of two more AWACS, which are part of the USD 1.1 billion deal, for the IAF before the end of 2010.
Though Antony felt that cost escalation (in Gorshkov deal) was a problem, he said the issue was not specific to Russia and this deal alone, but cut across defence contracts with other countries too.
"Real issue is to get delivery of the equipment on time. We are in touch with all countries supplying equipment not only at the official level, but also with the companies, and are seeing to it that all equipments are delivered on time. Entering into a contract is not enough, but delivery on time is a must," he added.
Highly critical of the prolonged procurement process for even critical defence weapon system, Antony cited the 20-year delay in acquiring the Hawks advanced jet trainers from Britain, which were delivered only last year after several rescheduling of deadlines.
"Five years (for delivery of AWACS) is too long a time in the emerging security situation in the region. But I was told that there were special needs of IAF that had to be met and hence the delay. If delivery schedule of the other two AWACS are met, I assure youth that the government can think of procuring more AWACS in the future considering the air, land and coastal security needs," he said.
http://www.expressindia.com/latest-news/Tilts-in-Congs-balancing-act/467134/
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Two suspected Lashkar-e-Toiba terrorists were gunned down in an encounter in Barabanki with police, who believed they were planning to target Uttar Pradesh ...
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Moneycontrol.com >> Messageboard >> General >> Sonia Gandhi >> Raw or CBI target Mayawati by Sonia ,rahul (Lower level shameful politics) ...
www.moneycontrol.com/india/messageboardblog/message_thread/2312713/3254981 - 142k - Cached - Similar pages -Plot to target Mayawati foiled - Music, Bollywood, Hollywood ...
Plot to target Mayawati foiled Video on AOL India Video - Two suspected Lashkar-e-Toiba terrorists were gunned down in an encounter in Barabanki with police ...
video.aol.in/video-detail/plot-to-target-mayawati-foiled/949739164 - 50k - Cached - Similar pages -Case against Digvijay Singh for intimidating Mayawati | Top News
22 Apr 2009 ... Earlier, Singh refuted reports that he had threatened to target Mayawati with the help of CBI. Singh at a rally in Hardoi said that the ...
www.topnews.in/case-against-digvijay-singh-intimidating-mayawati-2155272 - 42k - Cached - Similar pages -Centre using CBI to target me: Mayawati - The Financial Express
12 Jul 2008 ... New Delhi, July 12:: Stung by a fresh CBI affidavit in a disproportionate assests (DA) case, BSP chief Mayawati on Saturday hit out at the ...
www.financialexpress.com/news/centre-using-cbi-to-target-me-mayawati/334800/ - 63k - Cached - Similar pages -Congress using CBI to target me, Mayawati hits out - Express India
13 Jul 2008 ... This is part of a behind-the-scene political conspiracy against me when the Samajwadi party has closed ranks with the Congress," Mayawati ...
www.expressindia.com/latest-news/congress-using-cbi-to-target-me-mayawati-hits-out/334943/ - 50k - Cached - Similar pages -Mayawati: Post Your Opinion and Read Comments on Mayawati
Post your opinions and read other comments on Mayawati at Connect.in.com. ... media target mayawati from last 2 years but bsp vote increase 5 percent in UP ...
connect.in.com/comments/Mayawati/551/3 - 77k - Cached - Similar pages -Mayawati's plans to rule India
28 Aug 2007 ... Beware Sonia Gandhi [Images]! You and your Congress party are her next target. Mayawati's future victims for sure. ...
www.rediff.com/news/2007/aug/28nazar.htm - 43k - Cached - Similar pages -Chief Minister Mayawati | Buzz 7
On May 17, Mayawati has issued a stern warning ... Full story .... Earlier, Singh refuted reports that he had threatened to target Mayawati with the help . ...
buzz7.com/tag/chief-minister-mayawati - 74k - Cached - Similar pages -Mayawati shops for power to meet 24-hr supply target
In order to meet its target of 24-hour power supply by 2012, the Mayawati government is planning to purchase 2000 MW power from the open market for the next ...
www.indianexpress.com/news/mayawati-shops-for-power-to-meet-24hr-supply-target/465983/ - 52k - Cached - Similar pages -
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Mayawati shops for power to meet 24-hr supply targetIndian Express - May 25, 2009 In order to meet its target of 24-hour power supply by 2012, the Mayawati government is planning to purchase 2000 MW power from the open market for the next ... Did CBI cases force Mulayam and Maya to pledge support to UPA?Times of India - May 20, 2009 NEW DELHI: Mulayam Singh Yadav's Samajwadi Party and Mayawati-led BSP are bitter rivals with nothing common between them. But both expressed unusual ... Making the power engineers toe the lineTimes of India - May 14, 2009 LUCKNOW: The Mayawati government's decision to handover the power infrastructure to private companies under the proposed franchise system for distribution ... Mayawati will have the crown or nothingDaily News & Analysis - May 15, 2009 About Mayawati's dream of becoming PM, another party leader says: "You know how Behnji is. She is very clear about what she wants and once she sets a target ... UP wheat procurement target up 1.2 MTBusiness Standard - May 14, 2009 Chief Minister Mayawati had recently asked chief secretary Atul Kumar Gupta for reviewing the wheat purchase progress on a daily basis and update her about ... Kalyan's message to voters: Learn from MayawatiLucknow Newsline - May 10, 2009 Badaun In his bid to consolidate the target groups and ensure cent per cent polling, former Chief Minister Kalyan Singh virtually expressed appreciation for ... In Badaun, Mulayam has an uphill task ahead Expressindia.com Congress, BJP hope for UPturn in fortunesTimes of India - May 12, 2009 It is unlikely that Mayawati will post the 40-plus tally that she had hoped for, and which was once considered a realistic target even by her rivals. ... Where the Muslims count Express Buzz Desperately seeking PM's post, Maya scorns at CongTimes of India - May 9, 2009 LUCKNOW: In a bid to widen her acceptability, chief minister and BSP supremo Mayawati has tranformed herself from "Dalit Ki Beti" to "Sarvsamaj Ki Behan". ... Joshi thanks voters of UPTimes of India - May 16, 2009 Lashing out at the anti-people policies of the Mayawati-led BSP government in the state, Joshi said that the countdown of the Mayawati-led BSP government ... Varun verdict: BJP says it's stand vindicatedTimes of India - May 8, 2009 NEW DELHI: As the UP advisory board declared that the NSA slapped on Varun Gandhi by the Mayawati government was invalid, a jubilant BJP said that the party ... |
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