Archive - 2012

December 26th

Swadeshi Jagaran Manch urges government to file nomination for DG WTO

Swadeshi Jagaran Manch has written a letter to the Prime Minister urging him to send nominate an Indian citizen and file his nomination for the post of Director General of multilateral trade body WTO.

Pascal Lamy the incumbent Director-General of the WTO took charge on 1 September 2005 for a four-year term. In April 2009 he was reappointed Mr Lamy for a second four-year term, starting on 1 September 2009. His term will end in 2013. The process of selection has already begun.

SJM letter to the Prime Minister says,

December 18th

India lost $123 billion in black money in a decade

The Indian economy suffered $1.6 billion in illicit financial outflows in 2010, capping-off a decade in which it experienced black money losses of $123 billion, according to a new report.

India is ranked as the decade's 8th largest victim of illicit capital flight behind China, Mexico, Malaysia, Saudi Arabia, Russia, the Philippines, and Nigeria, respectively in the report by Global Financial Integrity, a Washington-based research and advocacy organization.

December 17th

Govt lowers growth projection for current fiscal to 5.7% in 2012-13

The government has lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.

"Given ...an emerging scenario, it should be possible for the economy to improve the overall growth rate of GDP to around 5.7 per cent to 5.9 per cent for the year 2012-13", said the mid-year economic analysis tabled in Parliament.

GMR seeks over USD 800 mln; Maldives insists on forensic audit

Indian infrastructure firm GMR will seek a compensation of over USD 800 million from Maldives for the termination of its airport deal here but Male is insisting on a "forensic audit" as it feels the actual amount would be less than half.
"We have sent a letter to the Maldivian government indicating a number of more than USD 800 million as compensation amount. This is our initial estimate. The final figure would be based upon various calculations, loss of profit among others," GMR (Airports) CFO Sidharath Kapur said.

December 15th

China behind scrapped GMR deal to extend footprint in Maldives?

China's growing ties with the Maldives, blamed discreetly for the scrapped GMR airport deal, may be part of its larger scheme to dominate the strategically-important sea lanes of the Indian Ocean Region (IOR), according to an assessment of the Indian intelligence agencies. Beijing is reportedly wooing Male to pre-empt a US move to set up a new military base in the Maldives' southernmost island of Gan.

Ex-CBI chief admits to Centre’s pressure

Former CBI director US Mishra’s revelation that he faced pressure while probing former Uttar Pradesh Chief Minister and Bahujan Samaj Party chief Mayawati in the disproportionate assets case has created a political furore with the BJP reiterating its “misuse of the agency” charges and the Government summarily dismissing it.

December 13th

Cash subsidy for whom? : Dr. Ashwani Mahajan

Cash subsidy for whom?

December 12th

EC's strong exception to Centre's move to raise cap on subsidized LPG

Soon after the Petroleum Minister Veerappa Moily announced that government may raise the cap of subsidized LPG cylinders, the Election Commission reacted promptly and sought Moily's explanation over it.

The Commission took note of govt's move to increase LPG cylinders and directed it to stop it forthwith.

Taking suo moto cognizance of Moily's announcement, the Commission held an emergency meeting soon after he said the government will raise the cap on supply of subsidised cooking gas (LPG) to nine cylinders per household a year from six at present.

December 11th

एफडीआई के विरोध में किया पुतला दहन

भोपाल। स्वदेशी जागरण मंच भोपाल के कार्यकर्ताओं द्वारा एफडीआइ का पुतला दहन कर केंद्र सरकार के प्रति आक्रोश व्यक्त किया। आज प्रातः 10 बजे स्वदेशी जागरण मंच के विभाग संयोजक अरुषेन्द्र शर्मा के नेतृत्व में कार्यकर्ता बोर्ड आफिस चैराहा पर एकत्र हुए। यहां से विरोध करते हुए वहीं पर पुतला दहन किया। इस मौके पर विभाग संयोजक अरुषेन्द्र शर्मा नें कहा कि एफडीआई एक ऐसा विषैला डंक है जिस के लागू होने से भारत में खुदरा व्यापारी और किसान मरणासन्न हो जाएगा।

December 10th

Now, companies stinting on provident fund can go scot-free

The provident fund (PF) department has voluntarily given up its powers to take action against employers who fail to deposit workers' dues unless it can name workers whose savings are in danger, evoking protest from union leaders and labour experts who said this could protect companies that fail to make PF contributions.

An order issued by former central PF commissioner RC Mishra on November 30, his last day in office, said enforcement officers of the department cannot act against companies defaulting on workers' PF dues unless they can identify the workers whose savings are at stake.