Trillion Economy!

Trillion Economy!

Indian HOLOCAUST My Father`s Life and Time - One Hundred SEVEN

Palash Biswas



Jyoti Basu conferred doctorate by Calcutta University

April 27, 2007

Kolkata: Communist patriarch Jyoti Basu was conferred the honorary Doctorate of Law by the Calcutta University (CU) Thursday. The 94-year-old leader and former West Bengal chief minister received the honour from state Governor and CU Chancellor Gopal Krishna Gandhi at the Senate Hall of its College Street campus.

"If there is anything called next life then I would request you to come back to this university," Gandhi said, as he described the leader a pragmatist and wished him a longer life.

Basu in his speech urged for making Calcutta University one of the leading universities of the country by upgrading its academic standards.

However, the decision to confer the award to Basu was not without protest.
http://www.indiaedunews.net/Universities/Jyoti%5FBasu%5Fconferred%5Fdoctorate%5Fby%5FCalcutta%5FUniversity%5F921/


HOUR OF THE COMPRADOR
- The rich have truly inherited the earth in India
CUTTING CORNERS - ASHOK MITRA

A number of English dictionaries still refuse to recognize the word. They are fighting a losing battle. It has respectable Latin roots. The verb, comparatorem, originally meant ‘to compare’. After an interval of time, it came to mean ‘to purchase or provide’. As the centuries progressed, its import underwent further mutations. By the late 18th century, comprador was a derivative noun in both Spanish and Portugese. Soon, a comprador was a familiar figure in China as well as in India; he was a native house-steward; a somewhat more elaborate description referred to him as a native servant employed as head of the native staff, and as agent, by European houses.

Yet another century rolled by, the comprador culture came to full bloom in Central and South America. The comprador was the native head-boy hand-picked by foreign exploiters. He would abide by whatever his foreign master said. The master’s words were law to him, the master’s interests were invariably considered by him as superseding all other interests. The interests of his own nation, or his own people, counted little with the comprador; it was the welfare of the foreign master which alone mattered. He was the master’s eye, he was the master’s ear. He lived for the master, he died for the master. A rich literature has grown in Latin America over the past hundred odd years around what is called dependent development and imperialist expansion via the agency of the compradors.

The tribe who were boot-lickers of the British — compradors par excellence — had got totally eclipsed in India amidst the fervour and frenzy of the freedom movement. Circumstances are however forcing a re-recognition of Arnold Toynbee: history is a victim of the virus of circularity. The country is creeping back to a comprador climate. The new generation of information technology barons, spawned by the surge of outsourcing, is determined to transform the land into impeccable comprador territory. Barely a couple of years ago, one such baron, heading a major IT-related services producing unit located in Bangalore, was politely approached by some do-gooders for a financial contribution to ameliorate the environmental conditions in which the poor in the city lived. His response, as reported in the media, was breathtaking: don’t you know, 97.5 per cent of the profits of his firm come from the United States of America, Germany and Japan. He does not care much whether the poor in India lived or died. People like him are now the reigning deities in the country. There were few protests posted against this haughty, outrageous statement: the meek Indians have rapidly got to know which side their bread is buttered.
http://www.telegraphindia.com/1070427/asp/opinion/story_7700976.asp
Firing and bomb throwing at Nandigram
Nandigram, April. 27 (PTI): Violence erupted here once again today as bombs were hurled and guns fired at Bhangaberia area of Nandigram, the scene of the March 14 violence but there were no reports of any casualty.

East Midnapore District Superintendent of Police G Srinivas, said the firing and hurling of bombs lasted for about an hour and stopped at around 12 noon.

However, he did not say whether it was the CPI-M or the anti-displacement Bhumi Uched Pratirodh Committee (BUPC) which was involved in the violence.

"I am trying to send police reinforcements in the area," Srinivas said.

BUPC leader Milon Pradhan claimed that the firing and the bomb-throwing was by the CPI(M) cadre following the visit of Trinamool Congress chief Mamata Banerjee on April 25 here, who is stiffly opposing acquisition of farmland for industries in the state.

"The CPI(M) cadres are forcibly trying to enter Sonachura (a BUPC-dominated area) through Bhangaberia to perpetuate violence," he claimed.

CPI(M) leaders could not be contacted.

Fourteen people were killed at Nandigram in police firing on March 14.


Indiais now a $1-trillion economy! Whose Economy is it? Have the common masses any share of the much hyped profit,development?
For whome the INFRASTRUCTURE drive is so merciless?
Guru`s Drems come true.Now an Indian investor has for the first time been able to seriously benefit from global markets and utilise his knowledge to translate the same into returns for himself, opines Mr Kher. “The move towards enhancement of the remittance limit and easing of procedures is seen as steps toward full capital account convertibility and fuller integration of Indian investors/ investments with the global capital markets. For an Indian investor, who till now could spread his/her investment risk to Indian centric investments only, this provides an avenue to invest in the biggest and the best companies from all across the world hence diversifying his risks on a global scale and at the same time participate in the profits of global multi-nationals.”

Face the common man in day to day life and feel the GOOD! See the youth without any fiture! Foreign Universities and Call Centres, America and Japan, Singapur and Hongkong, Call Centres , Discothec, RAV parties, IIT and Lover`s Park have become the destination! There is no job. Whatever job available, continue to wither away with more and more FDI, MNCs, Disinvestment, lockout and sophisticated technology. They have the escapeway not to answer any quetion at all as the entire youth force is divided by an irrelevant issue like OBC quota in higher education. While there is no cut in general quota, what trouble you face to provide the underprevileged classes equal opportunity? It is only admission, not the job, friends.

Even as HRD Minister Arjun Singh announced that 27 per cent OBC quota was irrevocable, the Indian Institutes of Management on Friday initiated the process for admitting successful candidates following the ministry's directive to allow admissions on the last year's format. In all, 1350 students would be admitted in IIMs on basis of their Combined Aptitude Test (CAT) results.

HRD ministry, in the directive to 64 centrally funded educational institutes, said in light of the hearing slated for May 8, the offer of admissions for the ensuing academic session shall, until further communication, be limited to the approved intake that existed during academic session 2006-07 as per the policy of reservation prevailing for that session. The ministry issued the direction after it was given a go ahead by UPA-Left parties coordination committee.

This trillion dollar economy means serious business and infinite profit for the ruling classes. It does not creat jobs at all as the saffron alike Red horses of Campaign Against Indigenous People claim! Rather it kills the Man, The Nature and the Livelihood.
No village is going to survive in Super Power India. No greenfield is going to hold itself in the intense Jungle of Cement!

The government on Friday cleared British telecom firm Vodafone's application for buying a majority stake in India's fourth-largest mobile operator Hutch-Essar Ltd.Irony is this that UPA Bed partner CPI(M) has still asked the government to carefully examine all issues of foreign shareholding in telecom companies in India and keep a check on MNCs like Hutchison Telecom against their tendency to flout FDI norms. On the other hand, US is so interested in West Bengal with the entry of Napalm Bomb Specialist, who has taken over Union carbide, that a lot of US companies are taking interest in the eastern region, particularly West Bengal. Though, lack of information is coming in the way of this being realised into actual investment. While observing this at an executive meeting with members of the Indian Chamber of Commerce (ICC) in the city today, Mr Dale Tasarshki, deputy commercial counselor, embassy of USA, said that the interest of US companies in India is at an all-time high.
Mr SK Bangur, president, ICC said that a 12-15 member trade delegation will visit US from 28-30 June along with the state commerce and industry minister to attract investment in the state.

Success with the College Street Market has enthused the Kolkata Municipal Corporation to invite private players to renovate other markets owned by it, and Reliance has emerged as the top bidder for the Park Circus Market in south Kolkata.


Reliance intends to set up a huge agri-retail business in Bengal and it has offered to pay Rs 30.33 crore to take control of this market!


Looking at Vodafone's takeover of Hutchison's shares in Hutch-Essar, it seems that the Hong Kong-based behemoth held more than 89 per cent shares in the Indian company, in complete violation of the 74 per cent FDI limit, the CPI(M) said in the latest issue of the party organ 'People's Democracy'. In the Hutch-Vodafone case, not only has the limit on foreign holding been violated, but the Foreign Exchange Management Act (FEMA) and Benami Transaction (Prohibition) Act have also been ignored, it said. The party said, in such cases, the government should bring these companies to book, instead of legalising their illegal actions.

It is clear from the Hutch-Vodafone case that if FDI cap of 49 per cent could be violated, there is no reason to believe that just increasing the limit to 74 per cent would prevent such happenings in the future, CPI-M said.
Meanwhile,the Securities and Exchange Board of India today said it might review the industry practice of giving revenue guidance.Speaking at a Ficci meeting here today, Sebi chairman M. Damodaran said it had become difficult to know “where guidance stops and forward-looking statements start”.

Cocking a snook at Chief Minister Buddhadev Bhattacharya, the Forward Bloc running the agriculture department in West Bengal on Wednesday issued instructions to district marketing boards not to issue a licence to Reliance to buy produce from farmers or village marts without its nod.The instructions have put a question mark over Mukesh Ambani's controversial Rs2,000 crore agricultural marketing project in West Bengal. Although Reliance Fresh enjoys Bhattacharya's blessings, Left Front constituent Forward Bloc is opposing it tooth and nail.

Last week, Jyoti Basu publicly differed with Bhattacharya saying that the Reliance project has to be thoroughly assessed before it is allowed to be implemented. With Opposition Trinamool Congress and Congress doggedly refusing to attend the all-party peace meeting on Nandigram, veteran Marxist leader Jyoti Basu today urged them to attend the meeting to "prove" their allegations of atrocities by CPI(M) cadre on March 14.

"Let them attend the meeting. They are saying that our men have committed atrocities in Nandigram. Let them prove it at the meeting. Let them also go to the commission of enquiry (which is currenly on) and say whatever they have to," Basu told newsmen after the CPI(M) state secretariat meeting here.

When told that the Congress, instead of responding to the chief minister's appeal to attend the all-party meeting, had appealed to Governor Gopal Krishna Gandhi to take a personal initiative in restoring peace at Nandigram, Basu said that the Governor did not intervene in controversial matters. Asked to comment about reports that Reliance Industries had entered the retail business in the state, Basu said that they had discussed the matter with the Chief Minister Buddhadeb Bhattacharjee.

To a question whether he had any discussions about the matter with RIL's Mukhesh Ambani, he said, "Mukesh spoke to me over phone. That was a long time ago. Anil (Ambani) also called me."

Nandigram: Mamta wants SC judge inquiry

PROPER INQUIRY: We demand an inquiry into the genocide by a sitting judge of the SC, says Mamata.


New Delhi: Accusing West Bengal Chief Minister BuddhadebBhattacharjee of failing to ensure justice for the victims of "genocide" in Nandigram, the Trinamool Congress demanded an inquiry by a sitting Supreme Court judge into the March 14 police firing there in which 14 people were killed on Wednesday.


"It is one month and 1O days since the police firing on innocent villagers of Nandigram, who are fighting to save their land from being taken away for a SEZ. But there has been no effort on the part of the West Bengal government to ensure justice to the victims," Trinamool Congress chief Mamata Banerjee told a public rally during her first visit to the troubled area since last month's violence.


"We demand an inquiry into the genocide by a sitting judge of the Supreme Court. The CBI enquiry should continue simultaneously," she said.

So is this Trillion Dollar Economy

The practice of providing guidance was being reviewed even in the US, he said, but did not say if he intends to put an end to such announcements.At present, it’s largely the domestic infotech companies that provide guidance, which, according to Damodaran, results in building up of street expectations.Responding to various queries of industry captains at the meeting, Damodaran said Sebi was planning many changes and work was in progress to give effect to them.


So is this Trillion Dollar Economy as Amit Dalal of Amit Nalin Securities said that yesterday's closing on the Nifty and the way the market moved, reflected the fact that the markets may not cross the previous highs, at least, in this month. He is of the opinion that there are two surprises this month, though. One is the extent of FII flows, as they were not expected to think, that this market still would give them the kind of returns that they would want, at these valuations. But the improvement in the currencies is a motivating factor for all offshore funds.

The other thing that's a big positive is Mr. Reddy's policy statement, wherein he still expects GDP growth to continue at an 8.5%, even after the interest rate hikes. That is a big plus for the market. If that happens, there may be a new growth lower than what was seen last year, but it will be in the 15-17% range for the Index. So, May should help us cross the previous high.

What option the common man has? He may not escape the TRAP! He is deprived of his roots, livelihood,home and land! He has no purchasing capacity and Market Forces Napalm him at home! We are all naked and pushed in the Open market.

Darwin and his ORIGIN OF Species, Fittest Of Survival theories have become so much so Relevant in Post Modern Manusmriti Age!

The message is very clear, have the purchasing power to survive in this Trillion Dollar Indian Economy or perish as Bharat survives no more.

And this is India all about! This is our National Identity! Our Freedom! Our Sovereignity!

KPTV.com
Richard Gere faces arrest in India
Digital Spy - 2 hours ago
By Matt Houghton. An arrest warrant for Richard Gere has been issued in India after he kissed Shilpa Shetty at an Aids awareness event.
Hollywood Actor Apologizes for 'Obscene' Kiss in India Voice of America
A kiss is not just a kiss in India Chicago Tribune

India keen on Japanese investments in energy sector: Ahluwalia
Beijing, April. 27 (PTI): India today said it is keen on Japanese investments in energy infrastructure as well as technologies in areas like energy efficiency and clean coal. "We are quite interested in attracting Japanese investments into the ...
SBI chairman warns of rising NPAs in home loans
Mumbai, April. 27 (PTI): State Bank of India, the country's biggest lender, today cautioned against rising debt in housing loans and said this could lead to an asset bubble in the real estate sector. "I am not saying there is any cause for alarm ...

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I meet the common man aroound me and ask for his daily experiences. Horrible! The hawker, the vendor, the coolie, the Mazdoor, the beggar, the petty scavangers and even criminal , all seem to have this or that job to feed his family sometimes ago. Now they have not. West Bengal has got no less than Fifty six thousand closed factories and most of the land is grabbed by Real Estate. Water resources have become the Jungle of Cement. Mangrove Forest Sundarvana Endangered. Infinite death caravans continue in closed Tea gardens. Textiles and jute industry people have been dislodged from mainstream society! Jessop is disinvested.
And you guies talk so proudly on Trillion dollar Economy!
My Foot!
Why do you blame only the comrades for indiscriminate industrilisation and eviction of Rural India?
Why don`t you investigate the roles of all the World Bank plus Swiss Bank Slaves ruling India, the protagonists of Hindu zionist MNC Raj in India, who dont hesitate either esclating Bhopal Gas Tragedy or import Hiroshima Nagasaki, Vietnam, Iraq or afganistan realities in India!

Citing the Chinese model, Prime Minster Manmohan Singh says the industrial relations policy must be "sensitive" to absorb new technologies and ensure competitiveness while creating new employment opportunities and protecting interest of the working class on Friday.He also stresses that government; employers and workers could work together with an "accommodative" approach and address challenges facing the nation.

Addressing the 41st session of the Indian Labour Conference in New Delhi, Singh said his Government was committed to working with labour and business to create a new era of "inclusive and employment-oriented economic growth".
http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=f8552700-127f-4019-a9b7-93b154ba2727&&Headline=Industrial+policy+must+be+tech-savy%3a+PM


India is now a trillion-dollar economy

Billion with a trillion on paper
OUR SPECIAL CORRESPONDENT
New Delhi, April 26: $1,000,000,000,000.

Better start counting fast because the party may be over before you reach the last zero.

India has become a $1-trillion economy — the decisive thrust coming from a rising rupee.

The figure is largely a result of conversion rates and purists would dismiss it as an arithmetic rope-trick.

But patriots among the one billion-plus Indians can rejoice: only 11 other countries in the world have gross domestic product (GDP) — the value of all goods and services in a year — of more than $1 trillion .

India’s GDP crossed trillion dollars for the first time when the rupee appreciated to below 41 (against a dollar) yesterday, Swiss investment bank Credit Suisse said in a report.

The bank put the country’s GDP around Rs 41,00,000 crore, a little more than $1 trillion at the current rate of Rs 40.76 per dollar. The GDP was $900 billion a month ago when the rupee was at 45.
http://www.telegraphindia.com/1070427/asp/frontpage/story_7704173.asp

According to a Credit Suisse report, Indian GDP at the current price level of the rupee (Rs 40.76 per $) stands at $1trillion. The strengthening rupee has now made India the 12th country to achieve this milestone.

With the Rupee appreciating to below 41 against the US dollar on Wednesday, it was the first day for the economy to be a trillion-dollar economy.

The report said that India's stock market capitalisation too stands at $944 billion, just shy of the $1-trillion mark. However, if one stretches the definition of what constitutes an Indian stock, plus does a rounding, the Indian stock market is also about a trillion dollars as of Wednesday.

The first ever attainment of these landmarks is likely to create many self-congratulations and media events in the coming days. Fundamentally, they do not change anything, but the likely hoopla will add to investor sentiment, says the Credit Suisse report.

The report, adding some history trivia, says that eight out of the 10 economies had their stock markets rise in the one-year period after they first crossed $1trillion mark in GDP. The United Kingdom is the only economy to stop being a trillion-dollar economy for a while after attaining the status the first time.

The report, however, says that there is nothing magical about $1trillion or any such mark; and that it is wrong to take quarter-end GDP and some interim exchange rates for the calculation of GDP in a foreign currency. Any apparent GDP growth in foreign currency denomination due to the exchange rate move is not real growth, it said.

The other economy that crossed the same mark recently is Russia, which was within the last 2.5% as per the latest published GDP data of Dec-06. Somewhat coincidentally perhaps, the economies that crossed $1t-rillion mark mostly had positive equity markets in a year after they first crossed the level, even though some may want to partly attribute the "coincidence" to the halo effect on inflows created by reaching such a milestone.

Pl Read for Deatails of the report about the Indian Economy:
http://www.rediff.com/money/2007/apr/26india.htm


The much hyped recent wedding of celebrity couple Abhishek Bachchan and Aishwarya Rai has led to debates about the total brand value of the Bachchan family, which already boasts of three stars who are in demand by advertisers.

Also Read: Meet Mr and Mrs Abhishek Bachchan
http://specials.rediff.com/movies/2007/apr/26s1.htm

After much speculation about their honeymoon destination, it’s now official that Bollywood’s star couple Abhishek Bachchan and Aishwarya Rai are headed for a French honeymoon.The newly-weds would catch an early morning flight on Friday for France and will be spend their time mostly there during their fortnight stay in Europe.

After hogging the limelight for their “private” wedding, the couple remained in news when they visited Tirupati temple in Andhra Pradesh along with their family and close friends.
http://www.moneycontrol.com/india/news/entertainment/tirupatitempleeurope/whereashabhihon/market/stocks/article/278680



Arjun's proposal on IIMs admission runs into resistance
Thursday, April 26, 2007

HRD Minister Arjun Singh's proposal for allowing IIMs to go ahead with admissions for the coming academic year without OBC reservations pending the Supreme Court verdict appears to have met with stiff resistance from Congress allies, forcing the government to go for wider consultations on Thursday.
Singh, who had indicated that a decision on the issue was possible at the earliest, met Prime Minister Manmohan Singh earlier in the day and a meeting of the Cabinet Committee on Political Affairs was called in the night to thrash out the issue. But the meeting was inconclusive.
The HRD minister had during the day told reporters that it was possible to allow IIMs to go ahead with the admissions as last year and the "extended reservations for OBC could be taken up after the Supreme Court hearing on 8th May".
RJD leader and Railway Minister Lalu Prasad said it was decided to have wider consultations and a meeting of the UPA-Left parties is being convened tomorrow specially for the purpose.
Denying any differences, he said leaders of constitutents like LJP and PMK and the Left were not present at Wednesday's meeting.
"Everyone wanted that there should be no hardship to anyone", he said.

Investors can seriously benefit from global markets
D. Murali

Chennai, April 27: Earlier this week, ‘Liberalised Remittance Scheme’ came in form further liberalisation when the Annual Policy Statement of the Reserve Bank of India (RBI) proposed to double the present limit of $50,000 to $1,00,000 per financial year for any permitted current or capital account transaction or a combination of both.

“The increase in investment allowed from $25,000 to $50,000 in December, and to $1,00,000 now has given an Indian investor truly an opportunity in real economic terms to be able to diversify his portfolio and to a degree mitigate his risk,” says Mr Rahul Kher, Head-International Operations, Religare Securities Limited. “Till date the only opportunity available was different asset classes but all linked to Indian economy unlike the global investor who holds a global portfolio and is able to benefit from cost and markets on a global basis thereby reducing sector and market geography specific risk.”
http://www.hindu.com/thehindu/holnus/006200704271340.htm

All these incomes are tax-free for FY 2007-08
http://www.rediff.com/money/2007/apr/20tax.htm
R N Lakhotia and Subhash Lakhotia

April 20, 2007

Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.

1. Agricultural income

Under the provisions of Section 10(1) of the Income Tax Act, agricultural income is fully exempt from income tax. However, for individuals or HUFs when agricultural income is in excess of Rs 5,000, it is aggregated with the total income for the purposes of computing tax on the total income in a manner which results into "no" tax on agricultural income but an increased income tax on the other income.

Agricultural income which fulfils the above conditions is completely exempt from tax. The manner of calculating tax on total income and agricultural income, is explained in Illustration.


Gere, Shilpa 'kissa' attracts arrest warrants

Thursday, 26 April , 2007, 15:07

Jaipur: A Jaipur court on Thursday issued arrest warrants against Hollywood star Richard Gere and actress Shilpa Shetty for their public kiss during an AIDS awareness programme in the capital early this month. Additional Chief Judicial Magistrate, Jaipur city, Dinesh Gupta issued the warrants on a PIL filed by a Jaipur resident Poonam Chand Bhandari. Gere's kiss on Bollywood actress Shetty's cheeks during an AIDS awareness programme had evoked strong protests in several cities Activists, mostly of Hindu outfits, in Varanasi, Bhopal, Kanpur, Indore, Delhi and Mumbai burnt effigies of Gere and Shetty to give vent to their anger over the actor's act on stage at the programme in Delhi, calling it indecent behaviour.

Uproar Disgusting!

Both houses of parliament, resuming the budget session after the recess Thursday, witnessed uproarious scenes with members raising issues such as a human trafficking racket allegedly involving some MPs and the arrest of three police officers for killing an innocent as terrorist in Gujarat.The Congress and its United Progressive Alliance (UPA) allies vociferously raised the issue of the human trafficking racket allegedly involving Bharatiya Janata Party (BJP) MP Babubhai Katara in both houses even as Lok Sabha Speaker Somnath Chatterjee condemned it and asked the member not to attend the house till he was cleared of the charge.

Expressing concern over Katara's arrest last week, Chatterjee said he would call a meeting of all party leaders to decide how such a matter may be dealt with in future 'so that the prestige of the great institution is upheld'.

Katara, who represents Dahod of Gujarat, was arrested April 18 at the Indira Gandhi International Airport here while trying to smuggle out a woman and a boy on the diplomatic passports of his wife and son.

One of Katara's accomplices, arrested later, has named for more MPs as involved in the scam.

The BJP government of Gujarat also came under attack with UPA MPs demanding a Central Bureau of Investigation (CBI) probe into the alleged staged shooting in November 2005 of a Muslim man branded a terrorist and the arrest of three senior police officers Tuesday.

'The incident is the most sordid affair. We are sure there won't be an impartial inquiry into the fake shootouts in the state,' said Congress chief whip Madhusudan Mistry, who is from Gujarat.He was strongly supported by several MPs from the ruling alliance and the Left parties leading to noisy scenes that forced the speaker to adjourn the house 15 minutes before lunch.

'There have been around 150 such incidents in Gujarat since 2002,' Mistry said amid shouts of 'shame' from the treasury benches.

Despite the speaker's attempts to calm them down, the agitated members remained on their legs forcing him to adjourn the house.

Acting on a Supreme Court directive, the Gujarat police Tuesday arrested two police officers from the state and one from Rajasthan for killing Sohrabuddin Sheikh in an engineered shooting in Ahmedabad in November 2005 after claiming that he was a terrorist with the Lashkar-e-Taiba links and planned to kill Chief Minister Modi.

In the Rajya Sabha, slogan-shouting BJP members, after stalling question hour, stormed the well of the house demanding Geelani's arrest for the anti-India slogans raised at his rally in Srinagar.

Buoyed by the vociferous BJP members, Arvind Trivedi of the Trinamool Congress raised the issue of Nandigram in West Bengal where he said several peasants opposing land acquisition for an industrial project had been killed in police firing last month.

The Telugu Desam Party (TDP) members sought to raise the issue of the Bhabli dam being built by Maharasthra in Marathwada region, which they said would affect agriculture in Andhra Pradesh.Deputy chair K. Rehman Khan's repeated pleas to members urging to take up 'normal business' fell on deaf ears, forcing him to adjourn the house after tabling of papers.

Soon after the house assembled after a three-week break, eminent agriculture scientist M.S. Swaminathan was administered the oath as a nominated member by Chairman Bhairon Singh Shekhawat. This was followed by an obituary reference to former minister of state for finance Ram Gopal Sisodia, a member from Madhya Pradesh who died last month.

The house also deplored the terror attacks in Algeria and Casablanca April 11, and expressed solidarity with the people of the two countries.


The trillion-dollar club

Country
GDP in Dec '06 ($ billion)
First crossed $1-trillion mark on

United States
13,458
31/12/1969

Japan
4,464
31/12/1980

Germany
2,890
31/12/1987

China
2,554
31/12/1998

United Kingdom
2,358
30/09/1990

France
2,227
31/12/1989

Italy
1,841
31/03/1990

Spain
1,217
31/12/2004

Canada
1,273
31/12/2005

Brazil
1,067
29/09/2006

Russia
975
N/A

India *
* 1000
25/04/2007


*-only India's GDP numbers are not as of Dec-06 but as of Mar-07 and using the most recent exchange rate.
Source: Credit Suisse estimates

The Reserve Bank of India said on Monday that the Indian economy is expected to post a robust growth for the fourth straight year, expanding by an accelerated 9.2 per cent in 2006-07 as against 9 per cent in the previous fiscal.

The acceleration in growth during 2006-07 is driven by continued momentum in the services and manufacturing sectors, growth of which are expected to be in double-digit figures.

Combined NRI wealth more than India's GDP

The combined wealth of the 20-million strong non-resident Indians community is estimated to be over $1 trillion dollars -- more than the country's entire economy.