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J&K: SASB land transfer not now
Monday, 30 June, 2008
Following wide protest over the Jammu & Kashmir state cabinet's decision favouring land transfer to Shri Amarnath Shrine Board (SASB), the State government has decided not to go an head with the 40 hectares forest land transfer atleast for now.
The government has also took control of the Amamrnath Yatra arrangements and promised to provide better facilities for the pilgrims, informed Chief Minister Ghulam Nabi during a press conference.
Azad's government was reduced to minority as PDP pulled out support for the Cong led coalition govt in the wake of the controversial forest land transfer. However Azad maintained that his govt would continue to its full term as he has got the required number of MLAs.
--MP
Dhoni not happy with match schedule
Sunday, 29 June, 2008
After a stunning victory over Bangladesh on Saturday, Indian captain Mahendra Singh Dhoni went on to express his unhappiness over the tight match schedules of the Asia Cup cricket tournament, currently being held in Pakistan.
"We have spent 36 hours playing cricket out of the 84 hours we have been in Karachi. It is too tight. I am not happy with the schedule. Two teams have to play back to back matches while two have got a day off," he said during a press conference.
India has won all of the 3 matches so far played against Hong Kong, Pakistan and Bangladesh in the last 4 days. Dhoni also remarked that the players were too tired as they had played 3 matches in such short period.
--MP
Amarnath row: Tension prevails in J&K
Friday, 27 June, 2008
Fresh violence in connection with the Amarnath land row has created tension in Jammu and Kashmir.
Following people protesting against the transfer of forest land to Shri Amarnathji Shrine Board (SASB), there were clashes between police and protestors leading to the death of 1 person and injuring many others.
The state government's move to transfer 34 hectars of land to the Shrine Board has drawn protests with people in the Valley claiming such a deal could affect the environmental nature of the region.
--MP
Govt keen to go ahead with N deal
Thursday, 26 June, 2008
Though the UPA- Left meeting on Wednesday over the nuke deal seemed to have failed, the Congress led government is all set to go ahead with the India-specific safeguards agreement with IAEA, a step which is necessary for the US- Indo deal to get through.
After a 90-minute meeting, deadlock still persisted with Left indicating that they would withdraw support if the government goes ahead with the deal.
Following the unpleasant UPA-Left meeting, External Affairs Minister Pranab informed that discussions on all aspects of the deal have been completed and the next meeting of the committee to be convened in due course would finalise the findings.
--MP
India making more millionaires
Wednesday, 25 June, 2008
According to a survey conducted by Capgemini SA and Merrill Lynch, has indicated that the Indian millionaires are on a rise thanks to the emerging economies.
The World Wealth Report says that the number of Indian millionaires has gone up by 23% in the last year.
India had an estimated 1,23000 'high net worth individuals' (HNWIs) at the end of 2007, compared with the previous year of 100,015. China also reported a similar rise with thier numbers up by 20pc. India's emerging economy backed with stock market capitalisation has attributed to the millionaire growth in the country.
--MP
RBI goes tough on inflation
Announcing monetory measures to fight spiralling inflation, The Reserve Bank of India has hiked the repo rate by 50 basis points with immediete effect.
The bank also hiked the CRR by 50 basis points in two stages. The move is also to bring tough impace on consumers as loans like personal, housing and car loans are going to get costlier with the banks expected to rise loans atleast by 0.5-1.0pc.
Pushed by the RBI hike, the stock markets witnessed low trade.
--MP
Kapil's men to celebrate at Lords
Tuesday, 24 June, 2008
The 1983 Indian cricket squad captained by Kapil Dev and his men will be celelbrating their world cup victory at Lords coinciding with the silver jubilee of their historic day. It was on June 25, 1983 that Kapil Dev's men defeated West Indies by 43 runs to claim India's maiden and only Cricket World Cup.
The same team had departed to London on Tuesday to celebrate their 1983 feat.
Its learnt that former India captain Sunil Gavaskar, who was part of the winning team, has organised the Lord's gathering along with a dinner in London to mark the occassion. --MP India propose for price band in oil trade
Sunday, 22 June, 2008
Blaming speculators for the rise in global oil prices, India strongly stressed on the need for a price band mechanism in oil trade.
Addressing a meeting of world energy ministers in Jeddah, India's Finance Minister called upon the oil producing nations and consuming nations to come in terms with a price band within agreed levels thereby controling the uncertainity in the oil prices.
"In the band between these two levels, let prices be determined by market forces. This is the only way to shelter the world from volatility and unpredictability in oil prices," he said. --MP N-Deal: Left continue to oppose
The Left parties continued to remain adamant on their stance on the Indo-US nuclear deal, amidst the UPA government's repeated efforts to convince them on the situation.
On Sunday, another UPA ally DMK leader and Tamil Nadu Chief Minister M Karunanidhi met with the Left leaders to mediate for negotiations over the nuclear issue.
However nothing helped, except the Left threatening the government once again of the consequences if it go ahead with the India-specific safeguard agreement with the IAEA. Meanwhile CPI said the central government should not be sacrificed in the name of nuke deal, as nobody favours early elections.
--MP
RBI to tighten monetory policies
Saturday, 21 June, 2008
With India reeling under spiralling inflation, the central bank is expected to tighten the mnetory policies. The RBI may soon announce monetary measures to check price rise, said Finance Minister.
He also hinted that the government could adopt more fiscal measures including higher tax cuts to manage with the inflation.
With the inflation level shotting above 11percent, experts observe that the RBI is likely to go for another rate hike as a part of its monetary policy action.
--MP
High Inflation: Top leaders meet
With the country's inflation rate soaring above 11 percent, the UPA government leaders met to discuss on steps to keep control of the high price line situation.
Inflation rate released on Friday recorded a 13-year-high of 11.05 per cent which is mainly fuelled by the hike in petrol, diesel and cooking gas prices.
Earlier today Finance Minister P Chidambaram met Congress President Sonia Gandhi and discussed on the fiscal and monetary options available with the government and RBI to address the situation.
Prime Minister too has been appraised of the situation by the Finance Minister and RBI Governor Y V Reddy. "This is indeed a very difficult time and we will have to take stronger measures both on the demand side and monetory side", indicated FM.
--MP
N deal: US ready to wait till Jan
Wednesday, 18 June, 2008
Amid Left parties hardening their stand on the US-Indo nuclear deal, US has indicated that it was ready to work on the nuke deal till January 20 next year when the new President take over office.
"From now until January 20th, we'll continue to work to support this agreement. We'll continue to encourage the Indian government to approve it. And if in such time it is approved, we will make every effort to move it through Congress," said the US State Department Deputy Spokesman Tom Casey.
"And we certainly hope that the next administration, whoever comes to office in January, would also see this agreement as something fundamentally in America's interest and want to move forward with it as well," he added.
--MP
Amarnath yatra begins
The annual pilgrimage trip to Baba Amarnath Holy Cave, 'Amarnath yatra' has started in Jammu on Tuesday amid high security. First batch of tourists has left from the Jammu base camp escorted by paramilitary forces.
The yatra organised every year by the Jammu and Kashmir government is expected to draw as many as 300000 pilgrims visiting from various parts of the country and abroad.
Amarnath yatra is formally being conducted simultaneously from Pahalgam and Baltal routes from June 18.
--MP
Gujjar stalemate ends
After multiple round of talks between the Rajasthan government and the Gujjar community, the stalemate over the Gujjar issue is said to have ended.
Gujjar leader K S Bainsla who headed the Gujjar team remarked the talks as successful after the dialogues with the govt delegation in Jaipur on Tuesday.
Though no details has been disclosed on the demands and the agreement reached out, the Gujjar leadership claimed that the issues were sorted out amicably.
--MP
Gujjar talks on final round
Tuesday, 17 June, 2008
The Rajasthan government is in with the final and crucial round of talks with the Gujjar team headed by its leader, Col K S Bainsala in Jaipur on tuesday.
So far both sides claimed to have progressed with the talks and the issues on the sechedule tribe status.
The Gujjar community is expected to call off the stir after the dialogues with the government.
--MP
Champions Trophy: India along Auz, Pak, WI
Monday, 16 June, 2008
The 8 nation 2008 Champions Trophy cricket tournament which is set for September in Pakistan has been grouped for competition.
Among the 8 teams split into 2 groups on a round robin fashion, India have been grouped under group A along with world champion Australia and Pakistan.
The other team in group A is West Indies. South Africa, New Zealand, Sri Lanka and England are the teams under Group B. The tourney which is a mini version of the World Cup is held every 2 years.--MP
Inflation likely to hit 10pc: Experts
Saturday, 14 June, 2008
The inflation rate which is already at a 4 year high of 8.75 is likely to go up further, says economic experts. Economists have forecasted that the inflation could go past 10 percent attributed to the fuel price hike which would reflect in the index in the coming weeks. This could push the inflation past 9 percent. And the rise in food articles like pulses and vegetables due to increased domestic demand could bring this further up. Meanwhile Congress party's spokesperson also expressed concerns over the rising inflation levels which may go up in the coming weeks after the recent rise in fuel prices. "We are afraid that the international scenario affecting Asia may cause some trouble in the weeks to come," said the party spokesperson. --MP Tri series: India in finals
Friday, 13 June, 2008
India defeated Bangladesh by seven wickets on Thursday entering finals which is to played on Saturday against Pakistan in the triangular series at Dhaka.
Raqibul Hasan (89) steered the Bangladesh batting setting a target of 223 for India to win. In return India's Gautam Gambhir along with Virender Sehwag gave a brilliant start which helped India an easy win to enter into the finals.
Sehwag took 59 while Gambhir remained unbeaten at 107. Gambair who scored his 5th century was adjudged the Man of the match.
--MP
Laons get dearer as RBI hikes rates
Thursday, 12 June, 2008
With Reserve Bank of India(RBI) hiking its lending rates, loans including consumer, home and auto loans are getting dearer.
RBI has revised the rates in view with the rising inflation levels which is expected to go much further over the coming weeks. RBI has Wednesday hiked the key interest rate by 25 basis points to 8.0 percent.
As the Central government has increased the repo rates ie, the short term money to various banks, this would have an impact on the demand of consumer loans provided by the banks. Housing loan rates are expected to go up by 2%. Banks are also expected to review their deposit rates.
--MP
Japanese firm set for Ranbaxy
Indian pharmaceutical major Ranbaxy is all set to be acquired by Japanese pharmaceutical major Daiichi Sankyo which is projected at a whopping deal of Rs 20000 crore.
Daiichi is all set to buy the entire 34.8 per cent controlling stake held by the Ranbaxy's founders headed by Ranbaxy CEO Malvinder Mohan Singh at Rs 737 a share.
The deal if it comes through could be termed as the second largest among foreign acquisitions of an Indian firm.
--MP
Gujjars on talks with govt
Tuesday, 10 June, 2008
The All India bandh called by the Gujjar community was called off after the government has agreed to settle the Gujjar issues and has come forward for talks with the Gujjar leaders.
The preliminarly talks that started between the 3 member government team and the Gujjar members at Bayana are said to be encoraging and further talks are on.
The govt was represented by State Ministers and senior officials while the Gujjars was represented by a 37 member delegation. However Gujjar chief Kirori Singh Bainsla was not present for the meeting.
--MP
India need to focus on Nuclear energy: PM
Prime Minister Manmohan Singh maintained thath India needs to focus on nuclear technology to meet its increasing energy needs.
While talking on nuclear disarmament at an international conference in New Delhi, he stressed on the country's need for nuclear energy to meet its developmental goals and energy security.
"India has no intention to engage in an arms race with anyone. Above all, India is fully committed to nuclear disarmament that is global, universal and non-discriminatory in nature," he said.
--MP
Inflation soars to 8.24pc
Saturday, 7 June, 2008
Even when the Center government is taking all steps to curb the rising prices, inflation in India has soared further to 8.24 per cent for the week ended May 24. For the previous week inflation was 8.1pc. This is the highest in 4 years since August 2004.
While expressing concerns over the rising inflation rates, Finance Minister P Chidambaram said that price stability could be ensured with people's support.
Though the Center is taking tight monetary policies, the inflation levels are likely to go further up due to the increased fuel prices.
--MP
Delhi cuts sales tax on LPG
Friday, 6 June, 2008
In an effort to lessen the burden of increased fuel prices, Delhi government has announced a subsidy and reduction in sales tax on the sale of cooking gas(LPG). The Center had hiked prices of cooking gas by Rs 50 a cylinder.
With the Delhi government announcing a relief on the LPG sales, consumers in Delhi would now need to cash in an extra Rs 10 per cylinder instead of the Rs 50 hike.
The price hike in effect that costed a cooking gas cylinder Rs 340.30 would be available to customers at Rs 304.70. The subsidy is expected to put a burden of Rs 165 crore on the state govt, informed Delhi Chief Minister Sheila Dikshit.
--MP
Bupathi pulls out due to injury
India's ace tennis player Mahesh Bhupathi has pulled out of mixed doubles semi-finals of the French Open following injury.
Bupathi who had a calf muscle injury earlier got aggravated further which forced him to withdraw from the semifinals.
Bupathi and his Chinese partner Jie Zheng was supposed to play the semi-final against top seeds Slovenia's Katarina Srebotnik and Serbia's Nenad Zimonjic on Thursday.
--MP
Petrol, diesel, cooking gas to cost more
Thursday, 5 June, 2008
Forced by revenue losses to oil companies, the Central government has hiked the prices for petrol, diesel and cooking gas.
Petrol prices has been hiked by Rs 5 a litre, diesel by Rs 3 a litre and cooking gas has been hiked by Rs 50 per cylinder. The revised rates has come into effect from Wednesday midnight.
Addressing the nation on the situation underwhich the rates has been increased, Prime Minister said in his address to the nation: "There are limits to which we can keep consumer prices unaffected by rising import costs. Our oil companies cannot go on incurring losses. This way they will have no money to import crude oil from abroad." --MP Oil price hike inevitable: PM
Tuesday, 3 June, 2008
Prime Minister manmohan Singh has made it clear that the hike in oil prices are inevitable owing to the ever rising global fuel price.
"We cannot allow the subsidy bill to rise any further. Nor do we have the margin to fully insulate the consumer from the impact of world commodity price and world oil price inflation," stated Singh while talking during a meeting.
He also maintained that the country needs wider political consensus to adopt more rational economic policies. While the finance, petroleum ministries and the Left parties having different opinions on to resolve the rise in global oil prices, the government is faced with a difficult task to reach on a consensus on the issue.
--MP
Rajastan Royals claim IPL crown
Monday, 2 June, 2008
Shane Warne's Rajasthan Royals claimed the maiden DLF IPL title with a thrilling win with the final ball on Sunday's final match against Chennai Super Kings in Mumbai.
Chasing a modest target of 160 runs, the Royals needed 8 runs out of the last over to claim victory. Captain Shane Warne and Sohail Tanvir at the crease, with Tanvir hitting the last ball for a single off paceman Balaji.
Royals' Yusuf Pathan who took 3 wickets and made a stunning 56 from 39 balls was declared the Man of the Match.
--MP
Airlines hike fares
Sunday, 1 June, 2008
With rising international fuel prices, the airline industry is forced to raise the fares of most of the airlines in India. While the petroleum companies are hiking aviation turbine fuel(ATF) costs, the airlines are passing the increased cost onto the passengers.
Most of the major airlines in the country including Air India has hiked its fares. Air India has raised its fuel surcharge for domestic flights to Rs 550 from Rs 300.
Indain also has raise its fuel surcharge on tickets, based on the distance of flights. Other airlines are alo expected to announce its fare hikes shortly.
--MP Indian economy strong amid inflation
Even when India is suffering from soaring inflation, the country's economy is running at a record high. The growth was reportedly at a record high of above 9 percent, higher than what was projected for the last fiscal year.
"Despite the rise in commodity and oil prices, and financial turbulence and the meltdown of some global financial institutions, India has been able to grow at 9pc for the third year running." said Finance Minister Chidambaram.
However the tough international prices and higher inflation levels are said to have an impact on the nation's ecomonic growth. India's inflation levels has touched the 8.1% mark last week which was the country's highest in the last 4 years.
--MP
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