Indian Navy aircraft crashes into residential area
HYDERABAD: A trainer aircraft with the Indian Navy's aerobatics team, Sagar Pawan, crashed into a two-storied building during an air show here on Wednesday.
Two naval pilots, Maurya and his co-pilot Nair were killed, police commissioner A K Khan said. The pilots had come from Goa where they were based. He was last seen in the morning by hotel staffers in the coffee shop having breakfast. Even while sipping his tea, he was seen gesticulating his hands to show how a plane could go up or down. The naval team comprising nine members had checked into a Hyderabad hotel on February 27.
The aircraft, an HJT-16 Kiran Mk2 trainer built by Hindustan Aeronautics Ltd, crashed a couple of minutes before noon in the Bowenpally locality near the old Begumpet Airport in the heart of the city. The police and the fire brigade had difficulty reaching the congested crash site.
Four people in the building, a part of which was badly damaged, were injured, as the plane fell on the side of the complex. Two of the injured are believed to be in serious condition and have been shifted to hospital. The debris from the crash fell on a car, crushing it. The building has developed cracks and residents are being evacuated.
The planes were showing acrobatic maneuvers when the incident took place. One of the aircraft, part of the navy's aerobatics team that uses four trainers, was unable to pull up from a dive and went into a spiral as the planes were breaking away from the formation and going in different directions. The acrobatics by the planes had begun even as Praful Patel, minister for civil aviation, was talking on the rostrum.
Thousands of people were enjoying the spectacle when disaster struck, sending thick clouds of smoke into the air. According to witnesses, the plane crashed into the mobile phone towers on top of the building. They heard a loud boom, after which the plane went down.
There are conflicting eye witness accounts. An old lady - a vegetable vendor - who was laying chilies on the ground close to the spot said that suddenly a boy of a pilot fell besides her, even as the plane went forward and crashed into the building. Hundreds of eye witnesses saw the plane fall and go up in flame.
On the way it snapped at electricity wires. There was leakage from the fuselage and whole area was covered with aviation fuel, putting the entire area to the risk of fire. But later fire brigade official spread foam to prevent a fire. One of the pilots tried to open his parachute while ejecting. Probably the height was too little and therefore the parachute did not open. The unopened parachute was seen at the site by eye witnesses.
Said Ashok, who was in his house at the time: "I was inside the house when I heard a loud noise and I came out to see flames."
An hour after the crash, Praful Patel addressing a pre-scheduled press conference had no details about the crash. "I hope for the best,” he said. "I can’t give you any information. I have none,” he added.
Present at the airshow were the whos who of Indian aviation industry including minister Praful Patel, Jet Airways boss Naresh Goyal, Kingfishers Vijay Mallaya, Air India MD Arvind Jadhav, civil aviation secretary Madvana Nambiar, GMR boss G M Rao, GVK boss G V Krishna Reddy and dozens of representatives of Boeing, Raytheon and other companies. Commander Maurya who was commanding the flight belonged to the naval establishment INS Hansa in Goa.
Hyderabad’s Begumpet airport is used for VIP and private flights. The area where the crash occurred falls under the jurisdiction of the Secunderabad Cantonment Board. The crash, however, took place in a civil area under the board.
Eyewitness US envoy says Hyderabad crash 'heartbreaking'
NEW DELHI: Describing the crash of an Indian Navy aircraft in Hyderabad as tragic, US ambassador Timothy J. Roemer, who was present at the air show, said "these heartbreaking losses have even more piercing impact when you are part of the event".
Roemer is leading an American delegation to India Aviation 2010 in Hyderabad.
"What began as such a promising day has sadly ended so tragically," he said in a statement. "As the full extent of this tragedy is still becoming known, all of our thoughts and prayers are with those who lost their lives or were injured, and with their families," the US envoy said.
"These heartbreaking losses have even more piercing impact when you are part of the event," he added.
An Indian Navy trainer aircraft crashed into a two-storied building in a densely populated locality during an air show here Wednesday, killing the pilot and his co-pilot and injuring four civilians on the ground.
Pravin Mahajan dies of brain haemmorage
MUMBAI: Pravin Mahajan, who was sentenced to life imprisonment for killing brother & BJP leader Pramod Mahajan, died in a Thane hospital on Wednesday evening, family sources said.
Pravin, 50, who was serving his life imprisonment, is survived by his wife and two children Kapil and Vaishali both of whom are college students.
Pravin Mahajan had been admitted to the Jupiter hospital in December 2009 following a brain haemorrhage and had been in coma since then.
He had been put on life support system and was struggling for life but failed to recover at the Hospital where he was admitted, a close aide of the family said. However, hospital authorities did not issue any official word on the developments and most family members also declined to comment.
In a dramatic murder that shocked the country, Pravin Mahajan had killed his elder brother Pramod Mahajan on April 22, 2006 in his Mumbai home. The high-profile BJP leader succumbed to his wounds 12 days later on May 3.
Pravin Mahajan was sentenced to life by a sessions court for fratricide on Dec 18, 2007. He was released on 14-day parole on November 27, 2009 after three-and-a-half years in prison and was supposed to return to prison when he suffered the stroke and was hospitalized.
Following is the chronology of the Pramod Mahajan murder trial
April 22, 2006: Pravin Mahajan shoots Pramod Mahajan at his Worli residence.
April 22, 2006: Pravin surrenders before the Worli Police.
April 23, 2006: Pravin sent to police custody by Bhoiwada court.
April 27, 2006: Cops record statement of Mahajan's family.
May 03, 2006: Pramod Mahajan succumbs to his injuries and dies at a city hospital.
July 14, 2006: 650-page chargesheet filed before Bhoiwada court for charges under IPC Section 302 (murder) and Section 449 (house trespass).
July 24, 2006: Pravin files for bail application before Sewri sessions court.
July 30, 2006: Pramod Mahajan's murder case committed to the sessions court.
August 01, 2006: Sessions judge Abhay Thipsay rejects Pravin's bail plea.
Sept 01, 2006: Harshad Ponda appointed as defence lawyer by Pravin.
Sept 08, 2006: Special prosecutor Srikant Bhatt withdraws from the case.
Sept 25, 2006: Special prosecutors Ujjwal Nikam and Niteen Pradhan appointed by the state.
Jan 23, 2007: Pravin pleads not guilty.
March 21, 2007: Trial commences at the sessions court.
March 23, 2007: Rekha tells the court that she saw Pravin firing bullets at her husband.
April 10, 2007: Rekha tells the court that Pravin had threatened Pramod and demanded Rs one crore.
April 11, 2007: Brother-in-law Gopinath Munde tells court that Pravin had sent threatening SMS to Pramod.
April 18, 2007: Supplementary chargesheet filed in Mahajan trial.
May 11, 2007: Key eyewitness and Pramod's domestic help, Mahesh Wankhede, deposes before the court.
Oct 15, 2007: Pramod's daughter Poonam Mahajan identifies Pravin before the court and breaks down after cross-examination.
Oct 29, 2007: Pravin shocks the court by stating that he had not killed his elder brother.
Oct 30, 2007: Pravin makes allegations about Pramod's character in the court.
Nov 1, 2007: Defence witness B Harikrishnan tells the court that SMS can be manipulated.
Nov 16, 2007: Harikrishnan manipulates an SMS in a demonstration before the court.
Nov 22, 2007: Sarangi admits to having sent an SMS to Pramod, says SMS was tampered.
Nov 30, 2007: Advocates start final arguments.
Dec 03, 2007: Prosecution says money is the motive for murder.
Dec 06, 2007: Judge S P Davare begins dictating the judgement as both defence and prosecution conclude arguments.
Dec 17, 2007: Court holds Pravin guilty in the case.
Nov 27, 2009: Released on 14-day parole
Dec 11, 2009: Pravin Mahajan lapsed into coma following a suspected brain hemorrhage.
March 3, 2010: Pravin Mahajan dies
Govt may consider Naxal truce offer, if ceasefire for 72 hrs
NEW DELHI: A day after home minister P Chidamabaram termed Maoist leader Kishenji's truce offer as "bizarre", the government extended an olive branch to the Left Wing extremists asking them to ensure ceasefire for 72 hours to facilitate talks.
Top government officials have said Kishenji's offer for talks may be considered if he could ensure complete ceasefire for 72 hours.
Home minister P Chidamabaram had termed the truce offer by the Maoist leader as "bizarre" while underlining double standards adopted by the Left Wing extremists.
In six days after Kishenji came with the offer for talks, Maoists have carried out 18 serious attacks on security forces and civilians killing 11 including an incident of neck- slitting of a police official in West Bengal.
Chidamabaram said he had offered to facilitate talks with the CPI-Maoist provided they abjured violence.
"There was no meaningful response to that offer. Nevertheless, on February 23 I responded that if the CPI-Maoist made a short, simple and unconditional statement that they would abjure violence, government would be prepared to hold talks with them. I have received no response to my statement," he had said.
PM-Advani verbal duel in Lok Sabha
New Delhi: The Lok Sabha on Wednesday witnessed an interesting passage of arms when Prime Minister Manmohan Singh intervened repeatedly and rejected BJP leader L K Advani’s charge that US pressure was behind India's decision to talk to Pakistan.
In a sharp verbal duel during the debate on the Motion of Thanks to the President's Address, Singh asserted that there is no change in the US policy on Indo-Pak relations after President Barack Obama came to power. He intervened on more than two occasions during the 75-minute speech by Advani, seeking to set the record straight on the Indo-Pak talks besides other issues like 'one-rank-one-pension' for armed forces.
“You are using this debate to sow seeds. What you are attributing to President Obama is certainly not true. In my discussions with President Obama, he has unambiguously said that there is no change in the US policy towards India and Pakistan (relations)”, the Prime Minister asserted.
He was replying to Advani who suggested that the US was behind the recent Indo-Pak Foreign Secretary-level as Obama had publicly said during his Presidential campaign that he would try to resolve Kashmir issue.
This, the BJP leader, contended marked a change in the US position as the previous US Administrations had maintained that they would not mediate in Indo-Pak relations unless both the countries want it.
Business News
Sensex closes above 17k, at 6-week high
Mumbai: Equities rose for a third straight session on Wednesday to its highest close in six weeks helped by a rally in Reliance Industries as LyondellBasell was said to have rejected the energy major's revised $14.5 billion offer.
Reliance Industries, which has the highest weight on the main index, climbed 3.9 per cent, its biggest per centage-point gain in 2010, to Rs 1,021.95.
"Reliance could have been dragged into a bidding war and eventually the valuation for LyondellBasell could have been stretched," said Prayesh Jain, a research analyst with India Infoline.
"The stock is just reacting on relief that it is not overpaying," added Jain.
LyondellBasell has rejected an offer from Reliance that values the bankrupt petrochemicals group at $14.5 billion, a person familiar with the matter said on Tuesday.
The 30-share BSE index closed 1.36 per cent or 227.45 points higher at 17,001.01.
Twenty-four of its components closed in the green. The benchmark has gained 4.6 per cent since Feb. 25, supported by last Friday's federal budget which pushed for higher consumption and fiscal consolidation.
"People were sitting on cash before the budget and that seems to be coming in the market now," said Vaibhav Sanghavi, director of Ambit Capital.
But, if global cues turned negative, the markets could correct after the recent momentum, he added.
Financials gained on good prospects in an expanding economy.
Top lender State Bank of India firmed 1.6 per cent, while private lenders ICICI Bank and HDFC Bank rose 1.2 per cent and 1.8 per cent respectively.
Engineering and construction firm Jaiprakash Associates jumped 6.1 per cent as its cement shipments in February jumped 61 per cent, while ACC fell 0.2 per cent as its cement shipments dropped 2.3 per cent.
Tata Consultancy Services rose 0.5 per cent after the leading outsourcer said late on Tuesday it had won a bid to administer Britain's new national pension scheme.
Tata Motors raced 1.3 per cent after the top vehicle maker said it would bring an electric version of the Nano, the world's cheapest car, to Europe within three years, starting with Britain and Scandinavia.
In the broader market, gainers were more than double the number of losers with 361 million shares changing hands on the Bombay Stock Exchange, higher than its last week's daily average of 291 million.
The 50-share NSE index climbed 1.4 per cent to 5,088.10.
Nissan to recall 5,40,000 vehicles globally
Japanese automaker Nissan Motor Co. is recalling about 540,000 pickup trucks, sport utility vehicles and minivans to fix problems with brake pedals and fuel gauges.
Most of the recalled vehicles are in the US, with smaller numbers scattered across the globe.
The brake pedal recall affects 179,000 vehicles in the US and about 26,000 in the Middle East, Canada, Russia and several other countries.
A pin in the pedal assemblies on certain 2008 to 2010 Nissan Titan pickups, Infiniti QX56 and Nissan Armada Sports Utility Vehicles, and some 2008 and 2009 Nissan Quest minivans can come loose and cause reduced braking force, Nissan said Tuesday in a statement.
No injuries or crashes have been reported, the company said. Customers with loose brake pedals should contact their dealer.
Nissan blamed the problem on a manufacturing defect by a parts supplier. Dealers will inspect the vehicles for loose pins and repair them if necessary.
The company said in a statement that all vehicles now on sale do not have the problem.
Nissan also is recalling 419,000 vehicles in the US and 53,000 elsewhere because gas gauges can show fuel left in the tank when it's actually empty.
The recall affects 2005 through 2008 Nissan Titan, Armada and Infiniti QX56s as well as Nissan Frontier pickups and Pathfinder and Xterra SUVs produced between January and March 2006 and between October 2007 and January 2008.
Due to a problem with a sensor inside the fuel tank, the gauges can show gas tanks a quarter full when they are in fact empty.
Nissan suggests keeping a half-tank of gas in the vehicles until the gauges can be repaired, eliminating the risk of running low on fuel.
Owners of vehicles in both recalls will be notified when to bring their cars and trucks in for repairs. In materials distributed to dealers, Nissan said the brake pedal recall begins on March 22, while the fuel-gauge recall will take place in two groups, one beginning March 22 and the other starting in April.
About 130,000 vehicles are covered by both recalls.
LyondellBasell rejects Reliance offer
LyondellBasell has rejected an offer from Reliance Industries' that values the bankrupt petrochemicals group at $14.5 billion, a person familiar with the matter said on Tuesday.
This is the third advance that Lyondell's board has rejected from Reliance over the past year in a decision that could leave the Indian energy group having to look elsewhere for takeover targets.
In rejecting the offer, Lyondell did not give any details about whether further negotiations would be fruitful, this person said, declining to be named because the negotiations are not public.
Reliance, controlled by India's richest man, Mukesh Ambani, has said his company plans an aggressive exploration campaign, investments in petrochemicals and overseas acquisitions.
It was not clear whether Reliance, which has raised a war chest for deals by selling $2 billion of stock in recent months, would continue its pursuit of the petrochemicals maker. A Reliance spokesman declined to comment.
Lyondell spokesman David Harpole also declined to comment but said a new disclosure statement about the company's current proposed reorganization plan will be filed with a United States court imminently.
A creditor group led by US private equity firm Apollo Management, which is controlling Lyondell's bankruptcy process in the United States, was expected to file a reorganization plan on Monday. That plan is intended to lead Lyondell out of bankruptcy.
Shares of Reliance, India's most valuable listed company with a market value of about $70 billion, closed 0.6 per cent higher on Tuesday, underperforming the 2.1 per cent gain in the benchmark index.
"Reliance, being the size it is, will be looking at other options overseas even if this bid fails, and sooner than later, something else will come up," said Rakesh Rawal, head of private wealth management at Anand Rathi Financial Services.
A deal would greatly enhance Reliance's presence in major markets in the United States and Europe and place it in the ranks of top global chemical makers such as Saudi Arabia's SABIC, Germany's BASF and Dow Chemical.
"In the short term I will be happy if the bid fails because the acquisition risk has been removed and Reliance's profits will remain unaffected," Rawal said.
"But from a longer-term perspective, I am sad because the company could have gained a lot of synergies from this acquisition over the next few years."
'OFFER RAISED TWICE'
Reliance, with interests in petrochemicals, refining, oil and gas exploration and retail, has been trying to buy Luxembourg-headquartered Lyondell since November, when it made a bid valuing the target at about $12 billion.
Reliance has since raised its offer twice, sources familiar with the situation have said, but the chances of success have been clouded by the prospect that senior creditors such as Apollo may take a loss at the price Reliance has proposed and gain more from an independent Lyondell.
LyondellBasell, which was forced into bankruptcy just over a year ago amid a cash crisis, said last month it had reached a settlement with creditors over a lawsuit stemming from its 2007 leveraged buyout, paving the way for the chemical maker to exit bankruptcy.
Sports News
After reality check, Spanish flair awaits India
New Delhi: Bruised and battered by Australia, India will have to regroup their forces when they take on Spain in a crucial Pool B encounter of the hockey World Cup in New Delhi on Thursday.
After drubbing Pakistan 4-1 in their tournament opener, the Indians were given a reality check by Australia.
The hosts were surprised by the pace and verve of the Kookaburras, who completely outplayed them in all departments of the game in their 5-2 win last night.
Jose Brasa's men were taught a good hockey lesson by Australia and showed that only control over the mid-field was not enough to win a game.
If pace and fitness was all about Australia, world number three Spain is known for its flair and one-touch hockey and the Indian defence cannot afford to relax at any moment and repeat the mistakes they committed against Australia.
A defeat tomorrow will severely dent India's semifinal chances.
Against the Australians, the Indian defence wore a sorry look from the onset, conceding two goals within the first 10 minutes. Sandeep Singh-led backline had no answers to the speed and angular passes of the Australians.
Such was the Aussie domination that even India coach Brasa admitted his players were not used to such fast nature of hockey.
"We did not play bad, we played at our level much better than what we had in Salta. But Australia played at a different level of fast-paced hockey. We were not used to that kind of fast hockey," Brasa said.
The Indian forwardline, which missed the banned Shivendra Singh, completely looked off-colour yesterday with Prabhjot Singh and Deepak Thakur doing very little to prove their presence in the game.
But with the two-match suspension ruling Shivendra out of the next match, the trio of Deepak, Prabhjot and captain Rajpal Singh will have to rise to the occasion and come out with more innovative ideas to beat the Spanish defence.
"Playing without Shivendra and with just 15 players is our main concern," Brasa said.
Sandeep had a bad day in office against Australia as he could not convert even a single penalty corner out of three that India earned, and the ace drag-flicker will have to pull up his socks against Spain as short corners are one of the strong points of the home team.
"We were not lucky with penalty corners against Australia. We didn't succeed and that was the reason we couldn't get closer," Brasa said.
The Indians will also have to do away with their perennial habit of holding on to the ball for longer, a mistake which proved costly against Australia.
But notwithstanding all the flaws, Brasa will draw heart from the fact that the Indian mid-field sparkled yet again. Arjun Halappa and Sardar Singh were as cool as cucumber even under tremendous pressure.
Germany blank Canada 6-0 in hockey World Cup
New Delhi: Defending champions Germany toyed with Canada before subjecting them to a 6-0 plastering in their second Pool A match of the hockey World Cup here on Wednesday.
Playing a fast-paced and one-touch hockey, the reigning Olympic champions and world number one side dictated terms for most part of the match which they led 4-0 at the breather.
Canada, ranked 10 places below Germany at the FIH chart, gave a stiff fight after the breather but still conceded two goals in the second session.
For Germany, who had drawn 2-2 with South Korea in their opening match, 18-year-old Florian Fuchs scored twice in the 58th and 64th minutes while Benjamin Wess (3rd), Jan-Marco Motag (21st), captain Maximillian Muller (23rd), Martin Haner (28th) found the target once each.
Gunning for a hat-trick of World Cup titles after their triumphs in 2002 and 2006, Germany forced as many as seven penalty corners -- from which they scored three – while Canada got just one in the entire match.
Play was confined mostly in the Canadian 25-yard for most part of the match and it was a completely lop-sided contest in the first session.
Just as the handful of the spectators at the Major Dhyan Chand Stadium took their seats, Germany opened their account with Benjamin Wess scoring after playing a one-to-one pass with Oscar Decke.
Germany, England, Greece move up FIFA rankings
Zurich: Germany and England have moved up one place in the latest FIFA rankings ahead of Wednesday’s round of friendlies while former European champion Greece is back in the top 10 for the first time since June 2008.
Current European champion Spain still leads the rankings ahead of Brazil, the Netherlands and Italy. But Germany has moved up one spot to fifth, England has risen one place to eighth and Euro 2004 champion Greece goes up two to 10th, replacing Egypt, which raced up the rankings after winning the African Cup of Nations in January, but has slipped to 17th.
Portugal has slipped to sixth and Argentina to ninth.
The United States, which visits the Netherlands in a friendly on Wednesday, has gone down four spots to 18th.
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I never penned any article for a newspaper in Karnataka: Taslima Nasreen
NEW DELHI: Exiled Bangladeshi writer Taslima Nasreen on Tuesday said the appearance of an article in a Karnataka newspaper purportedly written by her, which triggered violent protests in Shimoga and Hassan towns, is a "deliberate attempt to malign" her and "misuse" her writings to create disturbance in the society.
Nasreen said in a statement that she never penned any article for a newspaper in Karnataka.
"The incident that occurred in Karnataka on Monday shocked me. I learned that it was provoked by an article written by me that appeared in a Karnataka newspaper. But I have never written any article for any Karnataka newspaper in my life," she said.
Indian Sports News
Nasreen said, "The appearance of the article is atrocious. In any of my writings I have never mentioned that Prophet Muhammad was against burkha. Therefore this is a distorted story."
The author said, "I suspect that it is a deliberate attempt to malign me and to misuse my writings to create disturbance in the society. I wish peace will prevail."
The violence in Shimoga, the home town of Karnataka chief minister B S Yeddyurappa, left two persons dead, one of them in police firing on Sunday.
Nasreen, staying in an undisclosed destination due to security reasons since her return to India last month, had her visa extended recently by six months till August this year.
Replying to a question, she said she would not like to say anything other than the statement issued by her.
NASA radar aboard Chandrayaan-1 finds ice on moon's north pole
WASHINGTON: A NASA radar aboard India's maiden lunar mission Chandrayaan-1 has detected craters filled with thick deposits of ice near the moon's north pole, the US space agency said on Tuesday.
NASA's Mini-Sar experiment found more than 40 small craters, ranging in size from one to nine miles, containing water ice.
"Although the total amount of ice depends on its thickness in each crater, it's estimated there could be at least 600 million metric tons of water ice," the space agency said in a statement.
The radar's findings "show the moon is an even more interesting and attractive scientific, exploration and operational destination than people had previously thought," said Paul Spudis, lead investigator of the Mini-SAR experiment at the Lunar and Planetary Institute in Houston, Texas.
The Mini-SAR has spent the last year mapping the moon's permanently-shadowed polar craters that are not visible from Earth, using the polarization properties of reflected radio waves.
"After analysing the data, our science team determined a strong indication of water ice, a finding which will give future missions a new target to further explore and exploit," Jason Crusan of NASA's Space Operations Mission Directorate in Washington said.
India's Prof J N Goswami and Dr M Chakrabarty are among the scientists from 13 agencies from the USA and India who authored and published the Mini-SAR's findings in the journal, "Geophysical Research Letters".
Prof Goswami is Principal Scientist, Chandrayaan-1 from Physical Research Laboratory, Ahmadabad, and Dr Chakrabarty is from Space Applications Centre, Ahmedabad.
Analysis of data obtained by the Miniature Synthetic Aperture Radar (Mini-SAR) onboard Chandrayaan-1 spacecraft has provided evidence of presence of ice deposits near the moon's North pole.
The new findings add to the growing scientific understanding of the multiple forms of water on the moon, according to an ISRO statement.
Chandrayaan-1 was India's contribution to the armada of unmanned spacecraft to have been launched to the Moon in recent years.
Zero tolerance for assaults on Indians: Australian foreign minister
NEW DELHI: Hours within a fresh incident of violence against Asians in his country, Australian foreign minister Stephen Smith on Tuesday said they have zero tolerance for assaults on Indians or against anyone else who comes to Australia.
"Regrettable, we know as I said to my Parliament that there have been some racial or racist overtones to a small number of those assaults and we condemn them absolutely," he said.
Smith pointed out that several steps have been taken to ensure that when people visit his country they have an "enjoyable and safe experience".
Govt's U-turn on Indo-Pak talks was at US nudge: Advani
New Delhi: Accusing the Government of making a U-turn on holding talks with Pakistan following US 'nudge', senior BJP leader L K Advani has said that no concrete outcome is possible in any dialogue till that country abandons terrorism.
Terming the UPA's stand on Indo-Pak talks as a "self-inflicted insult", he said the only outcome that seemed to have emerged from the recent Foreign Secretary-level talks was that they will stay in touch.
"Our Foreign Secretary called the recently concluded meeting 'constructive' but her Pakistani counterpart ridiculed the meeting and said his country did not believe in 'cosmetic engagement' and did not want India to 'lecture' them by demanding that Pakistan should 'do this or that'," Advani said in his latest blog posting titled 'UPA's shabby approach to Indo-Pak talks : A self-inflicted insult'. Taking a dig at the Government on the outcome of the talks, Advani said in his statement to Parliament External Affairs Minister S M Krishna described the meeting as constructive and useful.
"But the only concrete outcome that seemed to emerge from the 500-word statement was the Foreign Secretaries agreement to stay in touch," the BJP leader said.
He said India's "U-turn" on the issue of dialogue with Pakistan seems to be the upshot of "Washington's nudge." The "firmness" shown by the NDA government in dealing with Pakistan bore fruits in the form of a joint statement in which Islamabad assured that it would not permit Pakistan or any territory in Pakistan's control to be used to support terrorism in any manner, he said.
Business News
Sensex at 2-month high, Nifty above 5K
Mumbai: The markets roared to a more than two-month high on Tuesday, led by an over 12 per cent surge in Tata Motors, pushing the bellwether Sensex up over 340 points and the Nifty above the psychological 5,000-mark.
Bouyed by the feel-good factor in the Budget amid a jump in exports and manufacturing numbers, foreign funds were in full strength and lapped up shares in the auto, metals, banks and FMCG counters like hot cakes.
The biggest gainer of the day was Tata Motors which hit a nine-month high zooming 12.10 pct, after Moodys upgraded it following the turnaround of its luxe marque JLR. Tata Steel was the second best performer gaining 6.18 pct. The BSE auto index charged the Sensex rally gaining 4.29 pct, with M&M also supporting with a 4.65 pct jump.
After a gap-up opening of 243 points, the BSE barometer zoomed to a high of 2.3 pct or 372.05 points to 16,801.60 at the fag-end, recording its best-ever single day rally since December 23, but settled the day a tad down at 16,772.56 points or 343.01 points, clocking a net gain of 2.09 pct.
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Similarly, the 50-share NSE Nifty surged by 94.70 points or 1.92 pct to close above 5,000-mark at 5,017. The index zoomed past 74 points in opening deals and touched high of 5,026.95.
CNI Research chairman Kishor Ostwal said,"it's post-budget rally as the budget has given the direction to the market."
The market also got support from growth in exports for the third straight month in January at 11.5 per cent.
Google acquires photo-editing site Picnik
San Francisco: Google Inc acquired online photo-editing site Picnik, as the Web search leader continues with a deal binge includes three acquisitions in about three weeks.
Google did not disclose the financial terms of the deal for Picnik, a 5-year-old Seattle-based start-up which said on its website that it has 20 employees.
Google spokesman Andrew Pederson said in an email message that the Picnik team has joined Google's Seattle office and will work with Google's Picasa group. Picasa is Google's Web photo sharing service.
The deal is the latest example of Google's increasing appetite for acquisitions, as the company's core Internet search business has benefited from a recovery in the advertising sector.
In October, Google CEO Eric Schmidt said the company would resume its historic pace of acquiring one small company per month on average, with larger deals happening every year or two.
Last month Google acquired Aardvark, a social search engine and mobile Web email service reMail. Since September, Google has acquired 8 companies, said Pederson.
Google Chief Financial Officer Patrick Pichette, speaking at the Morgan Stanley Technology, Media and Telecom Conference conference on Monday, said that Google was beefing up its ranks as business conditions improve.
"The bottleneck for us right now is engineering. How many engineers can we find given that we have all these great opportunities?" Pichette said.
Picnik allows users to edit online photos from directly within a Web browser, eliminating the need for special, stand-alone editing software.
Indian Sports News
Lighter ban but Shivendra says it's still injustice
The ban on him has been reduced by a match but Indian forward Shivendra Singh on Tuesday said even the lighter penalty amounts to "injustice" on him as he has been punished for no fault.
During India's World Cup opener against Pakistan on Sunday, Shivendra's stick hit rival player Fareed Ahmed who suffered a cut on his eye as a result. Tournament Director Ken Read, while handing out the initial three-match suspension to Shivendra, said the act was "deliberate".
The Indian player, who after the reduced ban will sit out of the matches against Australia and Spain, however, insisted that he had no intention to hurt the Pakistani player and it was just an accident.
"I am very disappointed with the decision. The penalty is injustice to me because I never committed the fault intentionally. I was running for the ball and while I was in motion the stick suddenly hit the Pakistani player. But it was never deliberate," Shivendra said.
The seasoned forward, who had scored a goal in India's 4-1 win in the tournament opener, said the slight relief hardly matters to him as he would be sitting out of two 0crucial matches.
"It does not matter to me because at the end of the day I would be missing the crucial match against Australia. It hardly matters," he said.
Shivendra said the episode has only made him more determined to make a strong comeback.
"Now I am even more determined to perform better when I return to field after suspension," he said. India coach Jose Brasa was also livid with the harsh penalty imposed on his ward.
"The three-match suspension penalty was very harsh and in that sense wrong. I don't say he (tournament director) does not have the power under FIH rules. He has the authority but the decision was wrong. It was an enormous penalty for an unintentional foul," Brasa told reporters.
"If Mr Read wants to send a message why did he pick the Indian team. My players were struck on the face in that match against Pakistan and matches involving Australia, England and other countries were much more physical involving graver 0offences by their players.
"I have never ever experienced a player being handed a three-match penalty in my life -- be it Olympics, World Cup or Champions Trophy. Three match is half of the World Cup. To penalise a player by suspending him half of a World Cup for an unintentional foul was enormous," Brasa had said yesterday.
Pakistan clinch thrilling 2-1 win over Spain
New Delhi: A nervy Pakistan put behind their defeat against arch-rivals India to eke out a narrow 2-1 win against Spain in a hard-fought Pool B encounter of the hockey World Cup here on Tuesday.
A defeat on Tuesday would have virtually shut the semifinal door on Pakistan after their 1-4 defeat against India but Abdul Haseem Khan (30th minute, 70th) sounded the board twice to see them through.
David Alegre scored the lone goal for Spain in the 67th minute.
As expected, the match started on a fast pace with Pakistan going for the attack right at the beginning.
As early as in the ninth minute of the game, Pakistan got a great opportunity to go ahead but Waseem Ahmed's shot, after dodging some Spanish defenders in side the D, was saved by goalkeeper Francisco Cortes.
But Spain seemed in no mood to sit back and got their first scoring opportunity in the next minute.
A quick through ball from captain Pol Amat found Rodrigo Garza right in front of the goal but his shot was cleared by Pakistan custodian Salman Akbar.
Pakistan's experienced centre forward Rehan Butt also wasted an opportunity in the 11th minute as he failed to touch the ball with only the Spanish goalkeeper to beat.
England register second win, beat SA 6-4 in hockey WC
New Delhi: European champions England registered their second straight victory in the hockey World Cup on Tuesday, defeating a lowly South Africa 6-4 in a high scoring second Pool B match at the Major Dhyan Chand National Stadium here.
For England, Richard Mantell (15th minute, 57th), Robert Moore (23rd), Ashley Jackson (43rd), Nick Catlin (50th) and Iain Mackay (51st) were the goal getters, while Marvin Harper (10th, 53rd), Lloyd Norris-Jones (25th) and Thornton Mcdade (67th) registered their names in the scoresheet for South Africa.
The first half witnessed an exciting contest between the two teams with playing clean hockey and using short passes to great effect.
England, however, was the more dominant side after the change of ends as they earned penalty corners at will and pumped in four goals to inflict on South Africa their second defeat on the trot.
South Africa, however, were the first to sound the board in the 10th minute of the match through Harper after Justin Reid-Ross had set up the goal with a great solo run down the baseline.
England equalised five minutes later through Mantell, who converted his side's first penalty corner with aplomb.
NEW DELHI: Exiled Bangladeshi writer Taslima Nasreen on Tuesday said the appearance of an article in a Karnataka newspaper purportedly written by her, which triggered violent protests in Shimoga and Hassan towns, is a "deliberate attempt to malign" her and "misuse" her writings to create disturbance in the society.
Nasreen said in a statement that she never penned any article for a newspaper in Karnataka.
"The incident that occurred in Karnataka on Monday shocked me. I learned that it was provoked by an article written by me that appeared in a Karnataka newspaper. But I have never written any article for any Karnataka newspaper in my life," she said.
Indian Sports News
Nasreen said, "The appearance of the article is atrocious. In any of my writings I have never mentioned that Prophet Muhammad was against burkha. Therefore this is a distorted story."
The author said, "I suspect that it is a deliberate attempt to malign me and to misuse my writings to create disturbance in the society. I wish peace will prevail."
The violence in Shimoga, the home town of Karnataka chief minister B S Yeddyurappa, left two persons dead, one of them in police firing on Sunday.
Nasreen, staying in an undisclosed destination due to security reasons since her return to India last month, had her visa extended recently by six months till August this year.
Replying to a question, she said she would not like to say anything other than the statement issued by her.
NASA radar aboard Chandrayaan-1 finds ice on moon's north pole
WASHINGTON: A NASA radar aboard India's maiden lunar mission Chandrayaan-1 has detected craters filled with thick deposits of ice near the moon's north pole, the US space agency said on Tuesday.
NASA's Mini-Sar experiment found more than 40 small craters, ranging in size from one to nine miles, containing water ice.
"Although the total amount of ice depends on its thickness in each crater, it's estimated there could be at least 600 million metric tons of water ice," the space agency said in a statement.
The radar's findings "show the moon is an even more interesting and attractive scientific, exploration and operational destination than people had previously thought," said Paul Spudis, lead investigator of the Mini-SAR experiment at the Lunar and Planetary Institute in Houston, Texas.
The Mini-SAR has spent the last year mapping the moon's permanently-shadowed polar craters that are not visible from Earth, using the polarization properties of reflected radio waves.
"After analysing the data, our science team determined a strong indication of water ice, a finding which will give future missions a new target to further explore and exploit," Jason Crusan of NASA's Space Operations Mission Directorate in Washington said.
India's Prof J N Goswami and Dr M Chakrabarty are among the scientists from 13 agencies from the USA and India who authored and published the Mini-SAR's findings in the journal, "Geophysical Research Letters".
Prof Goswami is Principal Scientist, Chandrayaan-1 from Physical Research Laboratory, Ahmadabad, and Dr Chakrabarty is from Space Applications Centre, Ahmedabad.
Analysis of data obtained by the Miniature Synthetic Aperture Radar (Mini-SAR) onboard Chandrayaan-1 spacecraft has provided evidence of presence of ice deposits near the moon's North pole.
The new findings add to the growing scientific understanding of the multiple forms of water on the moon, according to an ISRO statement.
Chandrayaan-1 was India's contribution to the armada of unmanned spacecraft to have been launched to the Moon in recent years.
Zero tolerance for assaults on Indians: Australian foreign minister
NEW DELHI: Hours within a fresh incident of violence against Asians in his country, Australian foreign minister Stephen Smith on Tuesday said they have zero tolerance for assaults on Indians or against anyone else who comes to Australia.
"Regrettable, we know as I said to my Parliament that there have been some racial or racist overtones to a small number of those assaults and we condemn them absolutely," he said.
Smith pointed out that several steps have been taken to ensure that when people visit his country they have an "enjoyable and safe experience".
Govt's U-turn on Indo-Pak talks was at US nudge: Advani
New Delhi: Accusing the Government of making a U-turn on holding talks with Pakistan following US 'nudge', senior BJP leader L K Advani has said that no concrete outcome is possible in any dialogue till that country abandons terrorism.
Terming the UPA's stand on Indo-Pak talks as a "self-inflicted insult", he said the only outcome that seemed to have emerged from the recent Foreign Secretary-level talks was that they will stay in touch.
"Our Foreign Secretary called the recently concluded meeting 'constructive' but her Pakistani counterpart ridiculed the meeting and said his country did not believe in 'cosmetic engagement' and did not want India to 'lecture' them by demanding that Pakistan should 'do this or that'," Advani said in his latest blog posting titled 'UPA's shabby approach to Indo-Pak talks : A self-inflicted insult'. Taking a dig at the Government on the outcome of the talks, Advani said in his statement to Parliament External Affairs Minister S M Krishna described the meeting as constructive and useful.
"But the only concrete outcome that seemed to emerge from the 500-word statement was the Foreign Secretaries agreement to stay in touch," the BJP leader said.
He said India's "U-turn" on the issue of dialogue with Pakistan seems to be the upshot of "Washington's nudge." The "firmness" shown by the NDA government in dealing with Pakistan bore fruits in the form of a joint statement in which Islamabad assured that it would not permit Pakistan or any territory in Pakistan's control to be used to support terrorism in any manner, he said.
Business News
Sensex at 2-month high, Nifty above 5K
Mumbai: The markets roared to a more than two-month high on Tuesday, led by an over 12 per cent surge in Tata Motors, pushing the bellwether Sensex up over 340 points and the Nifty above the psychological 5,000-mark.
Bouyed by the feel-good factor in the Budget amid a jump in exports and manufacturing numbers, foreign funds were in full strength and lapped up shares in the auto, metals, banks and FMCG counters like hot cakes.
The biggest gainer of the day was Tata Motors which hit a nine-month high zooming 12.10 pct, after Moodys upgraded it following the turnaround of its luxe marque JLR. Tata Steel was the second best performer gaining 6.18 pct. The BSE auto index charged the Sensex rally gaining 4.29 pct, with M&M also supporting with a 4.65 pct jump.
After a gap-up opening of 243 points, the BSE barometer zoomed to a high of 2.3 pct or 372.05 points to 16,801.60 at the fag-end, recording its best-ever single day rally since December 23, but settled the day a tad down at 16,772.56 points or 343.01 points, clocking a net gain of 2.09 pct.
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Similarly, the 50-share NSE Nifty surged by 94.70 points or 1.92 pct to close above 5,000-mark at 5,017. The index zoomed past 74 points in opening deals and touched high of 5,026.95.
CNI Research chairman Kishor Ostwal said,"it's post-budget rally as the budget has given the direction to the market."
The market also got support from growth in exports for the third straight month in January at 11.5 per cent.
Google acquires photo-editing site Picnik
San Francisco: Google Inc acquired online photo-editing site Picnik, as the Web search leader continues with a deal binge includes three acquisitions in about three weeks.
Google did not disclose the financial terms of the deal for Picnik, a 5-year-old Seattle-based start-up which said on its website that it has 20 employees.
Google spokesman Andrew Pederson said in an email message that the Picnik team has joined Google's Seattle office and will work with Google's Picasa group. Picasa is Google's Web photo sharing service.
The deal is the latest example of Google's increasing appetite for acquisitions, as the company's core Internet search business has benefited from a recovery in the advertising sector.
In October, Google CEO Eric Schmidt said the company would resume its historic pace of acquiring one small company per month on average, with larger deals happening every year or two.
Last month Google acquired Aardvark, a social search engine and mobile Web email service reMail. Since September, Google has acquired 8 companies, said Pederson.
Google Chief Financial Officer Patrick Pichette, speaking at the Morgan Stanley Technology, Media and Telecom Conference conference on Monday, said that Google was beefing up its ranks as business conditions improve.
"The bottleneck for us right now is engineering. How many engineers can we find given that we have all these great opportunities?" Pichette said.
Picnik allows users to edit online photos from directly within a Web browser, eliminating the need for special, stand-alone editing software.
Indian Sports News
Lighter ban but Shivendra says it's still injustice
The ban on him has been reduced by a match but Indian forward Shivendra Singh on Tuesday said even the lighter penalty amounts to "injustice" on him as he has been punished for no fault.
During India's World Cup opener against Pakistan on Sunday, Shivendra's stick hit rival player Fareed Ahmed who suffered a cut on his eye as a result. Tournament Director Ken Read, while handing out the initial three-match suspension to Shivendra, said the act was "deliberate".
The Indian player, who after the reduced ban will sit out of the matches against Australia and Spain, however, insisted that he had no intention to hurt the Pakistani player and it was just an accident.
"I am very disappointed with the decision. The penalty is injustice to me because I never committed the fault intentionally. I was running for the ball and while I was in motion the stick suddenly hit the Pakistani player. But it was never deliberate," Shivendra said.
The seasoned forward, who had scored a goal in India's 4-1 win in the tournament opener, said the slight relief hardly matters to him as he would be sitting out of two 0crucial matches.
"It does not matter to me because at the end of the day I would be missing the crucial match against Australia. It hardly matters," he said.
Shivendra said the episode has only made him more determined to make a strong comeback.
"Now I am even more determined to perform better when I return to field after suspension," he said. India coach Jose Brasa was also livid with the harsh penalty imposed on his ward.
"The three-match suspension penalty was very harsh and in that sense wrong. I don't say he (tournament director) does not have the power under FIH rules. He has the authority but the decision was wrong. It was an enormous penalty for an unintentional foul," Brasa told reporters.
"If Mr Read wants to send a message why did he pick the Indian team. My players were struck on the face in that match against Pakistan and matches involving Australia, England and other countries were much more physical involving graver 0offences by their players.
"I have never ever experienced a player being handed a three-match penalty in my life -- be it Olympics, World Cup or Champions Trophy. Three match is half of the World Cup. To penalise a player by suspending him half of a World Cup for an unintentional foul was enormous," Brasa had said yesterday.
Pakistan clinch thrilling 2-1 win over Spain
New Delhi: A nervy Pakistan put behind their defeat against arch-rivals India to eke out a narrow 2-1 win against Spain in a hard-fought Pool B encounter of the hockey World Cup here on Tuesday.
A defeat on Tuesday would have virtually shut the semifinal door on Pakistan after their 1-4 defeat against India but Abdul Haseem Khan (30th minute, 70th) sounded the board twice to see them through.
David Alegre scored the lone goal for Spain in the 67th minute.
As expected, the match started on a fast pace with Pakistan going for the attack right at the beginning.
As early as in the ninth minute of the game, Pakistan got a great opportunity to go ahead but Waseem Ahmed's shot, after dodging some Spanish defenders in side the D, was saved by goalkeeper Francisco Cortes.
But Spain seemed in no mood to sit back and got their first scoring opportunity in the next minute.
A quick through ball from captain Pol Amat found Rodrigo Garza right in front of the goal but his shot was cleared by Pakistan custodian Salman Akbar.
Pakistan's experienced centre forward Rehan Butt also wasted an opportunity in the 11th minute as he failed to touch the ball with only the Spanish goalkeeper to beat.
England register second win, beat SA 6-4 in hockey WC
New Delhi: European champions England registered their second straight victory in the hockey World Cup on Tuesday, defeating a lowly South Africa 6-4 in a high scoring second Pool B match at the Major Dhyan Chand National Stadium here.
For England, Richard Mantell (15th minute, 57th), Robert Moore (23rd), Ashley Jackson (43rd), Nick Catlin (50th) and Iain Mackay (51st) were the goal getters, while Marvin Harper (10th, 53rd), Lloyd Norris-Jones (25th) and Thornton Mcdade (67th) registered their names in the scoresheet for South Africa.
The first half witnessed an exciting contest between the two teams with playing clean hockey and using short passes to great effect.
England, however, was the more dominant side after the change of ends as they earned penalty corners at will and pumped in four goals to inflict on South Africa their second defeat on the trot.
South Africa, however, were the first to sound the board in the 10th minute of the match through Harper after Justin Reid-Ross had set up the goal with a great solo run down the baseline.
England equalised five minutes later through Mantell, who converted his side's first penalty corner with aplomb.
Sunday, February 28, 2010
Indian Latest News
I said Saudi Arabia an 'interlocutor' not 'mediator': Tharoor
RIYADH: Following controversy over his remarks that Saudi Arabia can be a "valuable interlocutor" between India and Pakistan, MoS for external affairs Shashi Tharoor quickly clarified he did not mean Riyadh should be a mediator.
PMO sources told Times Now that Tharoor’s remarks have “embarrassed” the government.
In comments that raised eyebrows in Indian political circles, Tharoor had said, "We feel that Saudi Arabia of course has a long and close relationship with Pakistan but that makes Saudi Arabia even a more valuable interlocutor for us." Tharoor is currently accompanying Prime Minister Manmohan Singh on a three-day visit to the oil-rich kingdom.
"When we tell them about our experience, Saudi Arabia listens as somebody who is not in anyway an enemy of Pakistan but rather is a friend of Pakistan and therefore I am sure will listen with sympathy and concern to a matter of this nature," he said when asked by reporters what kind of cooperation did he expect from Riyadh considering its close relations with Islamabad.
Just hours after making the remarks, the minister - who earlier also hit headlines for his controversial statements on social networking site Twitter on the government's austerity measures and immigration policy -- retracted them.
"No chance of my saying Saudi Arabia should be a mediator. Never said that or anything like it," Tharoor said.
Tharoor also issued a 'clarification' on Twitter. "If I speak to u, u are my interlocutor! I mentioned the Saudis as OUR interlocutors, ie the people we are here to speak to. Some misinterpretn," he said.
“Good day of mtgs, marred in some Indian media by misunderstanding of word "interlocutor". An interlocutor is someone u spk to, nothing more," he added.
Tharoor's remarks were condemned by BJP as "utterly irresponsible". The BJP will seek a clarification from Prime Minister in Parliament, party spokesman Ravishankar Prasad said in New Delhi. CPI also said the remarks were irresponsible.
No third party role in India-Pakistan ties: Congress, BJP
NEW DELHI/RIYADH: The Congress and the Bharatiya Janata Party (BJP) on Sunday made it clear that there was no scope for a third party in India-Pakistan relations.
Commenting on minister of state for external affairs Shashi Tharoor's remarks on Saudi Arabia's potential as an interlocutor in India's ties with Pakistan, a source close to Congress president Sonia Gandhi said, "India's position on no to third party mediation in India-Pakistan issues is unchanged. There is no change in the Congress position."
BJP leader Mukhtar Abbas Naqvi termed Tharoor's remarks "unusual" and reiterated India's known stand that no third party can intervene in issues between India and Pakistan.
Tharoor, who is with Prime Minister Manmohan Singh in Riyadh, said, "We feel Saudi Arabia has a long and close relationship with Pakistan and that makes Saudi Arabia a more valuable interlocutor to us."
He was asked if India would seek Saudi support to influence Pakistan to address Indian concerns over terrorism emanating from Pakistani territory.
As a mini storm erupted over Tharoor's remarks, he clarified that India's desire to seek Riyadh's support on terrorism related issues with Islamabad did not mean giving it the role of a mediator in India-Pakistan disputes.
He said he had never used the word mediation or mediator while talking about a possible Saudi role.
"No chance of my saying Saudi Arabia should be a mediator... Never said that or anything like it," Tharoor said a couple of hours after the media publicised his earlier remarks.
India is firmly opposed to any third party role in its relations with Pakistan.
Pak will have to fight war if India doesn't talk: JuD chief
ISLAMABAD: Notwithstanding the recent Indo-Pak foreign secretary-level meeting for which India took initiative, JuD chief Hafiz Mohd Saeed has said Pakistan will have to "fight a war at all costs" if New Delhi is not prepared to hold talks.
"India wants war... If India is not prepared to hold talks, Pakistan will have to fight a war at all costs," Saeed said in an interview to a news channel.
Asked about India's accusations about his involvement in planning and carrying out the Mumbai attacks, Saeed replied: "Let India prove it in any court, I will be ready to accept everything."
To another question on whether people should go to Kashmir for 'jehad' against India, he said there was "no doubt" in his mind that this should be done.
He also said he had no doubt that the Pakistan government is "cowardly."
Saeed's comments came days after the foreign secretaries of India and Pakistan held talks in New Delhi on February 25, the first official parleys between the two sides since the Mumbai attacks.
Though there was no breakthrough in the talks, the world community welcomed the development in the hope that it would lead to normalisation of ties between the two countries.
The JuD chief's face was not shown during the interview and he was filmed over his shoulder from the back. He said he did not wish to be filmed as it was not allowed by 'Shariah' or Islamic law.
Saeed, also the founder of the banned Lashkar-e-Taiba, was placed under house arrest in Lahore in December 2008 after the JuD was declared a terrorist group by the UN Security Council in the wake of the Mumbai terror attacks.
He was freed after about six months on the orders of the Lahore High Court.
The Pakistan government challenged his release in the Supreme Court, but no hearing has been held in the matter for several months after the case was adjourned for various reasons.
Several members of the LeT - including its operations commander Zakiur Rehman Lakhvi, a former aide of Saeed - are currently being tried by an anti-terrorism court in Rawalpindi for their alleged role in planning and facilitating the Mumbai attacks.
This case too has been affected by controversy and delays.
3 Idiots best film; Big B, Vidya best actors at Filmfare
Megastar Amitabh Bachchan and Vidya Balan bagged the Best Actor and Actress award for their performances in 'Paa' while '3 Idiots' scooped six trophies including best film at the 55th Filmfare awards.
The year 2009's biggest blockbuster '3Idiots' won best director award for Rajkumar Hirani, who also picked up the best story trophy with Abhijat Joshi at the ceremony held here on Saturday. Hirani also won best Screenplay Award with Vidhu Vinod Chopra for the Aamir Khan starrer. The duo also bagged the Best Dialogue Award for the film.
Bachchan and his family skipped awards function to protest against a news report about Aishwarya Rai's health in a tabloid owned by the same publication as Filmfare last week. The Bachchans have sent a legal notice to the paper asking for retraction and apology. In Big B's absence, Vidya collected Bachchan's best actor award.
Veteran actor Shashi Kapoor and noted music composer Khayyam were honoured with the Lifetime Achievement Award. Boman Irani and Kalki Koechlin won the Best Supporting Actor and Actress for '3 Idiots' and 'Dev D' respectively.
Among the popular category, Oscar-winning music composer, A R Rahman, won the best music award for 'Delhi-6', making it the 25th black lady on his award-shelf. 'Aaj Din Chaddya...' from 'Love Aaj Kal' fetched Irshad Kamil the Best Lyrics award.
In the Critics' Awards category, Nandita Das won the best director trophy for 'Firaaq' while Ranbir Kapoor and Mahie Gill bagged the best actor and actress award for their performances in 'Wake Up Sid' and 'Dev D' respectively.
Centre rushes 1,200 paramilitary personnel to Punjab, Haryana
New Delhi: The Centre on Sunday rushed about 1,200 paramilitary personnel to Punjab and Haryana, hit by violence following filing of a fresh murder case against Dera Sacha Sauda chief Gurmeet Ram Rahim Singh.
“We have sent central paramilitary forces, 12 companies to Punjab and Haryana to take care of the situation. Strict instructions have been given to the state governments to take severe action against those breaking law and order”, Union Home Secretary G K Pillai told reporters here. He said the Home Minister P Chidambaram is aware of the development. “We have also kept Prime Minister Manmohan Singh informed," Pillai said.
Resenting the filing of a murder case against the Dera Sacha Sauda head by the CBI, sect supporters last evening went on a rampage setting ablaze four trains and around 37 vehicles, including 27 buses, and vandalising property in several places in the two states.
Business News
ICICI emerges biggest recruiter at IIM-A
Ahmedabad: ICICI Bank emerged as the biggest recruiter during the third cluster of cohort based final placements at the Indian Institute of Management, Ahmedabad (IIM-A) here, by offering over 10 jobs to the students.
The interviews for the third cluster continued throughout the day yesterday. The companies from various sectors like banking services, financial advisory services and credit rating agencies took part in the placements, a member of the IIM-A placement committee said.
"ICICI Bank was the largest recruiter on campus giving a double-digit number of offers, while, regular recruiters such as ICRA, KPMG, Essar Group and Philips offered jobs to the IIM-A students in finance, consulting, sales and marketing fields," he said.
"The new process once again ensured a smooth experience for both students and recruiters. Seamlessness prevailed despite a large number of recruiters visiting the campus this weekend," the Media Coordinator for the Placement Committee, Mansi Chitalia said.
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Final placements at IIM-A this year is based on cohort based system. As per this process companies offering similar roles, profiles, salaries and locations are grouped into individual cohorts who converge at campus on weekends and discuss roles on offer with students before recruiting them.
India, Saudi Arabia set to sign 10 pacts on cooperation
Riyadh: India and Saudi Arabia on Sunday finalised 10 pacts, including an Extradition Treaty and agreements in the economic sphere for signing during Prime Minister Manmohan Singh's ongoing visit to this oil-rich country.
Singh, the first Indian Prime Minister to visit Saudi Arabia in 28 years, will meet King Abdullah bin Abdulaziz Al Saud later in the evening and hold wide-ranging talks on issues ranging from cooperation in various areas, situation in Afghanistan and the threat of terrorism.
Singh has expressed keenness to impart ‘strategic character’ to India-Saudi Arabia ties and the agreements are expected to give a major fillip to the relations. The Prime Minister's long overdue visit to the Kingdom comes four years after King Abdullah visited India.
During the three-day visit, the two sides will sign 10 pacts including Extradition Treaty, Agreement on Transfer of Sentenced Prisoners and Agreement on setting up Joint Investment Fund. Singh and King Abdullah will also hold talks on opening ‘new frontiers’ of cooperation in various areas including security and defence.
India's concerns over 'safe havens' of al-Qaeda and Taliban along the Afghanistan-Pakistan border will be also discussed during the talks between Singh and King Abdullah.
6.38 lakh jobs created in Oct-Dec Q
New Delhi: In a clear indication of the revival of the economy, the Government has revealed that 6.38 lakh jobs were created in the October-December quarter last year.
During this period, employment increased in almost all sectors except the transport sector which saw a marginal decline, according to the Labour Bureau under the Labour and Employment Ministry. It said 91 per cent of the jobs created were in export units, which bore the brunt of the economic crisis, thus signalling an imminent turnaround.
“Out of the total increase of 6.38 lakh jobs during the period, 5.80 lakh jobs were added in the export units. The IT/BPO units alone added 4.87 lakh jobs within the export units”, a senior official in the Ministry said. The bureau arrived at the figures after conducting an employment survey covering 2,953 units of eight selected sectors across 11 states and union territories.
The survey was the fifth in the series, the first one being conducted in the October-December quarter in 2008 immediately after the onset of the global meltdown to assess the impact of recession on the job market. The previous survey conducted between July and September, 2009 showed a 4.97 lakh increase in job creation.
Sports News
India-Pak to clash in high voltage opener
New Delhi: Emotions will run high when India, after a tumultuous build-up, will take on arch-rivals Pakistan in a potential humdinger of the hockey World Cup, which gets underway amid watertight security here on Sunday.
India will have to leave behind the controversies that marred their run up to the high profile FIH tournament and put up a united front as stakes are high for the home team after the Olympic debacle. Their eight Olympic gold notwithstanding, India have not won a major international title since their 1975 World Cup triumph in Kuala Lumpur.
Indian hockey has gone down considerably since then, evident from their result in the last couple of years. After finishing a lowly 11th out of 12 teams in the last World Cup at Monchengladbach, Germany fours years ago, Indian hockey plunged to a new low in 2008 by missing out on an Olympic berth for the first time in 80 years.
After all these lows, this mega event brings with it an opportunity of a lifetime for Indian hockey to regain its lost glory in front of countrymen. But achieving it is no mean task for the Rajpal Singh-led side and the first two matches Pakistan and Australia carry a lot of significance since result of these encounters would decide their fate in the tournament.
The match also gives Rajpal and his men an opportunity to avenge their 3-6 defeat at the hands of Pakistan in the semifinal of the Champions Challenge I tournament in Salta, Argentina.
The much-anticipated game carries a lot of importance for both the teams not only in the context of sporting ties between the two countries but also on the diplomatic front. And expectedly emotions will run high in both the camps as for the first time after 26/11 Mumbai carnage, the two countries will be meeting each other on Indian soil.
City stun Chelsea as Bridge gets revenge on Terry
Wayne Bridge got his revenge on John Terry as Manchester City dented nine-man Chelsea's title challenge with a stunning 4-2 win at Stamford Bridge. While Chelsea stumbled, third placed Arsenal closed the gap to three points with a dramatic 3-1 win yesterday at 10-man Stoke which was marred by a serious injury to Wales midfielder Aaron Ramsey.
After snubbing Terry's offer of a handshake during the pre-match greeting between the teams, Bridge -- who this week quit England duty as a result of Terry's alleged affair with his ex-girlfriend Vanessa Perroncel played his part as City handed Chelsea their first home defeat in 38 games. Frank Lampard put the Premier League leaders ahead in the 42nd minute but Carlos Tevez equalised in first half stoppage-time following mistakes from Terry and goalkeeper Hilario.
Craig Bellamy struck for the visitors in the 51st minute with a shot from a tight angle that Hilario should have saved. Tevez scored his second from the penalty spot after Juliano Belletti was sent off for fouling Gareth Barry in the 76th minute, then Michael Ballack was dismissed in the closing stages.
Bellamy rubbed salt into Chelsea's wounds with the fourth in the 87th minute before Lampard's 90th-minute penalty reduced the deficit. Chelsea remain just one point ahead of Manchester United, while City go above Tottenham into fourth place.
RIYADH: Following controversy over his remarks that Saudi Arabia can be a "valuable interlocutor" between India and Pakistan, MoS for external affairs Shashi Tharoor quickly clarified he did not mean Riyadh should be a mediator.
PMO sources told Times Now that Tharoor’s remarks have “embarrassed” the government.
In comments that raised eyebrows in Indian political circles, Tharoor had said, "We feel that Saudi Arabia of course has a long and close relationship with Pakistan but that makes Saudi Arabia even a more valuable interlocutor for us." Tharoor is currently accompanying Prime Minister Manmohan Singh on a three-day visit to the oil-rich kingdom.
"When we tell them about our experience, Saudi Arabia listens as somebody who is not in anyway an enemy of Pakistan but rather is a friend of Pakistan and therefore I am sure will listen with sympathy and concern to a matter of this nature," he said when asked by reporters what kind of cooperation did he expect from Riyadh considering its close relations with Islamabad.
Just hours after making the remarks, the minister - who earlier also hit headlines for his controversial statements on social networking site Twitter on the government's austerity measures and immigration policy -- retracted them.
"No chance of my saying Saudi Arabia should be a mediator. Never said that or anything like it," Tharoor said.
Tharoor also issued a 'clarification' on Twitter. "If I speak to u, u are my interlocutor! I mentioned the Saudis as OUR interlocutors, ie the people we are here to speak to. Some misinterpretn," he said.
“Good day of mtgs, marred in some Indian media by misunderstanding of word "interlocutor". An interlocutor is someone u spk to, nothing more," he added.
Tharoor's remarks were condemned by BJP as "utterly irresponsible". The BJP will seek a clarification from Prime Minister in Parliament, party spokesman Ravishankar Prasad said in New Delhi. CPI also said the remarks were irresponsible.
No third party role in India-Pakistan ties: Congress, BJP
NEW DELHI/RIYADH: The Congress and the Bharatiya Janata Party (BJP) on Sunday made it clear that there was no scope for a third party in India-Pakistan relations.
Commenting on minister of state for external affairs Shashi Tharoor's remarks on Saudi Arabia's potential as an interlocutor in India's ties with Pakistan, a source close to Congress president Sonia Gandhi said, "India's position on no to third party mediation in India-Pakistan issues is unchanged. There is no change in the Congress position."
BJP leader Mukhtar Abbas Naqvi termed Tharoor's remarks "unusual" and reiterated India's known stand that no third party can intervene in issues between India and Pakistan.
Tharoor, who is with Prime Minister Manmohan Singh in Riyadh, said, "We feel Saudi Arabia has a long and close relationship with Pakistan and that makes Saudi Arabia a more valuable interlocutor to us."
He was asked if India would seek Saudi support to influence Pakistan to address Indian concerns over terrorism emanating from Pakistani territory.
As a mini storm erupted over Tharoor's remarks, he clarified that India's desire to seek Riyadh's support on terrorism related issues with Islamabad did not mean giving it the role of a mediator in India-Pakistan disputes.
He said he had never used the word mediation or mediator while talking about a possible Saudi role.
"No chance of my saying Saudi Arabia should be a mediator... Never said that or anything like it," Tharoor said a couple of hours after the media publicised his earlier remarks.
India is firmly opposed to any third party role in its relations with Pakistan.
Pak will have to fight war if India doesn't talk: JuD chief
ISLAMABAD: Notwithstanding the recent Indo-Pak foreign secretary-level meeting for which India took initiative, JuD chief Hafiz Mohd Saeed has said Pakistan will have to "fight a war at all costs" if New Delhi is not prepared to hold talks.
"India wants war... If India is not prepared to hold talks, Pakistan will have to fight a war at all costs," Saeed said in an interview to a news channel.
Asked about India's accusations about his involvement in planning and carrying out the Mumbai attacks, Saeed replied: "Let India prove it in any court, I will be ready to accept everything."
To another question on whether people should go to Kashmir for 'jehad' against India, he said there was "no doubt" in his mind that this should be done.
He also said he had no doubt that the Pakistan government is "cowardly."
Saeed's comments came days after the foreign secretaries of India and Pakistan held talks in New Delhi on February 25, the first official parleys between the two sides since the Mumbai attacks.
Though there was no breakthrough in the talks, the world community welcomed the development in the hope that it would lead to normalisation of ties between the two countries.
The JuD chief's face was not shown during the interview and he was filmed over his shoulder from the back. He said he did not wish to be filmed as it was not allowed by 'Shariah' or Islamic law.
Saeed, also the founder of the banned Lashkar-e-Taiba, was placed under house arrest in Lahore in December 2008 after the JuD was declared a terrorist group by the UN Security Council in the wake of the Mumbai terror attacks.
He was freed after about six months on the orders of the Lahore High Court.
The Pakistan government challenged his release in the Supreme Court, but no hearing has been held in the matter for several months after the case was adjourned for various reasons.
Several members of the LeT - including its operations commander Zakiur Rehman Lakhvi, a former aide of Saeed - are currently being tried by an anti-terrorism court in Rawalpindi for their alleged role in planning and facilitating the Mumbai attacks.
This case too has been affected by controversy and delays.
3 Idiots best film; Big B, Vidya best actors at Filmfare
Megastar Amitabh Bachchan and Vidya Balan bagged the Best Actor and Actress award for their performances in 'Paa' while '3 Idiots' scooped six trophies including best film at the 55th Filmfare awards.
The year 2009's biggest blockbuster '3Idiots' won best director award for Rajkumar Hirani, who also picked up the best story trophy with Abhijat Joshi at the ceremony held here on Saturday. Hirani also won best Screenplay Award with Vidhu Vinod Chopra for the Aamir Khan starrer. The duo also bagged the Best Dialogue Award for the film.
Bachchan and his family skipped awards function to protest against a news report about Aishwarya Rai's health in a tabloid owned by the same publication as Filmfare last week. The Bachchans have sent a legal notice to the paper asking for retraction and apology. In Big B's absence, Vidya collected Bachchan's best actor award.
Veteran actor Shashi Kapoor and noted music composer Khayyam were honoured with the Lifetime Achievement Award. Boman Irani and Kalki Koechlin won the Best Supporting Actor and Actress for '3 Idiots' and 'Dev D' respectively.
Among the popular category, Oscar-winning music composer, A R Rahman, won the best music award for 'Delhi-6', making it the 25th black lady on his award-shelf. 'Aaj Din Chaddya...' from 'Love Aaj Kal' fetched Irshad Kamil the Best Lyrics award.
In the Critics' Awards category, Nandita Das won the best director trophy for 'Firaaq' while Ranbir Kapoor and Mahie Gill bagged the best actor and actress award for their performances in 'Wake Up Sid' and 'Dev D' respectively.
Centre rushes 1,200 paramilitary personnel to Punjab, Haryana
New Delhi: The Centre on Sunday rushed about 1,200 paramilitary personnel to Punjab and Haryana, hit by violence following filing of a fresh murder case against Dera Sacha Sauda chief Gurmeet Ram Rahim Singh.
“We have sent central paramilitary forces, 12 companies to Punjab and Haryana to take care of the situation. Strict instructions have been given to the state governments to take severe action against those breaking law and order”, Union Home Secretary G K Pillai told reporters here. He said the Home Minister P Chidambaram is aware of the development. “We have also kept Prime Minister Manmohan Singh informed," Pillai said.
Resenting the filing of a murder case against the Dera Sacha Sauda head by the CBI, sect supporters last evening went on a rampage setting ablaze four trains and around 37 vehicles, including 27 buses, and vandalising property in several places in the two states.
Business News
ICICI emerges biggest recruiter at IIM-A
Ahmedabad: ICICI Bank emerged as the biggest recruiter during the third cluster of cohort based final placements at the Indian Institute of Management, Ahmedabad (IIM-A) here, by offering over 10 jobs to the students.
The interviews for the third cluster continued throughout the day yesterday. The companies from various sectors like banking services, financial advisory services and credit rating agencies took part in the placements, a member of the IIM-A placement committee said.
"ICICI Bank was the largest recruiter on campus giving a double-digit number of offers, while, regular recruiters such as ICRA, KPMG, Essar Group and Philips offered jobs to the IIM-A students in finance, consulting, sales and marketing fields," he said.
"The new process once again ensured a smooth experience for both students and recruiters. Seamlessness prevailed despite a large number of recruiters visiting the campus this weekend," the Media Coordinator for the Placement Committee, Mansi Chitalia said.
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Final placements at IIM-A this year is based on cohort based system. As per this process companies offering similar roles, profiles, salaries and locations are grouped into individual cohorts who converge at campus on weekends and discuss roles on offer with students before recruiting them.
India, Saudi Arabia set to sign 10 pacts on cooperation
Riyadh: India and Saudi Arabia on Sunday finalised 10 pacts, including an Extradition Treaty and agreements in the economic sphere for signing during Prime Minister Manmohan Singh's ongoing visit to this oil-rich country.
Singh, the first Indian Prime Minister to visit Saudi Arabia in 28 years, will meet King Abdullah bin Abdulaziz Al Saud later in the evening and hold wide-ranging talks on issues ranging from cooperation in various areas, situation in Afghanistan and the threat of terrorism.
Singh has expressed keenness to impart ‘strategic character’ to India-Saudi Arabia ties and the agreements are expected to give a major fillip to the relations. The Prime Minister's long overdue visit to the Kingdom comes four years after King Abdullah visited India.
During the three-day visit, the two sides will sign 10 pacts including Extradition Treaty, Agreement on Transfer of Sentenced Prisoners and Agreement on setting up Joint Investment Fund. Singh and King Abdullah will also hold talks on opening ‘new frontiers’ of cooperation in various areas including security and defence.
India's concerns over 'safe havens' of al-Qaeda and Taliban along the Afghanistan-Pakistan border will be also discussed during the talks between Singh and King Abdullah.
6.38 lakh jobs created in Oct-Dec Q
New Delhi: In a clear indication of the revival of the economy, the Government has revealed that 6.38 lakh jobs were created in the October-December quarter last year.
During this period, employment increased in almost all sectors except the transport sector which saw a marginal decline, according to the Labour Bureau under the Labour and Employment Ministry. It said 91 per cent of the jobs created were in export units, which bore the brunt of the economic crisis, thus signalling an imminent turnaround.
“Out of the total increase of 6.38 lakh jobs during the period, 5.80 lakh jobs were added in the export units. The IT/BPO units alone added 4.87 lakh jobs within the export units”, a senior official in the Ministry said. The bureau arrived at the figures after conducting an employment survey covering 2,953 units of eight selected sectors across 11 states and union territories.
The survey was the fifth in the series, the first one being conducted in the October-December quarter in 2008 immediately after the onset of the global meltdown to assess the impact of recession on the job market. The previous survey conducted between July and September, 2009 showed a 4.97 lakh increase in job creation.
Sports News
India-Pak to clash in high voltage opener
New Delhi: Emotions will run high when India, after a tumultuous build-up, will take on arch-rivals Pakistan in a potential humdinger of the hockey World Cup, which gets underway amid watertight security here on Sunday.
India will have to leave behind the controversies that marred their run up to the high profile FIH tournament and put up a united front as stakes are high for the home team after the Olympic debacle. Their eight Olympic gold notwithstanding, India have not won a major international title since their 1975 World Cup triumph in Kuala Lumpur.
Indian hockey has gone down considerably since then, evident from their result in the last couple of years. After finishing a lowly 11th out of 12 teams in the last World Cup at Monchengladbach, Germany fours years ago, Indian hockey plunged to a new low in 2008 by missing out on an Olympic berth for the first time in 80 years.
After all these lows, this mega event brings with it an opportunity of a lifetime for Indian hockey to regain its lost glory in front of countrymen. But achieving it is no mean task for the Rajpal Singh-led side and the first two matches Pakistan and Australia carry a lot of significance since result of these encounters would decide their fate in the tournament.
The match also gives Rajpal and his men an opportunity to avenge their 3-6 defeat at the hands of Pakistan in the semifinal of the Champions Challenge I tournament in Salta, Argentina.
The much-anticipated game carries a lot of importance for both the teams not only in the context of sporting ties between the two countries but also on the diplomatic front. And expectedly emotions will run high in both the camps as for the first time after 26/11 Mumbai carnage, the two countries will be meeting each other on Indian soil.
City stun Chelsea as Bridge gets revenge on Terry
Wayne Bridge got his revenge on John Terry as Manchester City dented nine-man Chelsea's title challenge with a stunning 4-2 win at Stamford Bridge. While Chelsea stumbled, third placed Arsenal closed the gap to three points with a dramatic 3-1 win yesterday at 10-man Stoke which was marred by a serious injury to Wales midfielder Aaron Ramsey.
After snubbing Terry's offer of a handshake during the pre-match greeting between the teams, Bridge -- who this week quit England duty as a result of Terry's alleged affair with his ex-girlfriend Vanessa Perroncel played his part as City handed Chelsea their first home defeat in 38 games. Frank Lampard put the Premier League leaders ahead in the 42nd minute but Carlos Tevez equalised in first half stoppage-time following mistakes from Terry and goalkeeper Hilario.
Craig Bellamy struck for the visitors in the 51st minute with a shot from a tight angle that Hilario should have saved. Tevez scored his second from the penalty spot after Juliano Belletti was sent off for fouling Gareth Barry in the 76th minute, then Michael Ballack was dismissed in the closing stages.
Bellamy rubbed salt into Chelsea's wounds with the fourth in the 87th minute before Lampard's 90th-minute penalty reduced the deficit. Chelsea remain just one point ahead of Manchester United, while City go above Tottenham into fourth place.
Friday, February 26, 2010
Latest News of India
FM revises tax slabs to give more money to consumers
NEW DELHI: The 2010-11 general budget today provided considerable relief to income tax payers by raising the slabs at two levels but hiked the central excise duty on non-petroleum products across the board from 8 to 10 per cent and the basic duty on crude and petroleum products besides effecting a one-rupee increase per litre on petrol and diesel.
The basic threshold limit for income tax exemption will remain at Rs 1.60 lakh. Under the new proposal, 10 per cent tax will be levied between Rs 1,60,001 and Rs 5,00,000, 20 per cent on incomes between Rs 5,00,001 and Rs 8,00,000 and 30 per cent above Rs 8,00,000.
The present income tax slabs and rates are 10 per cent for income between Rs 1,60,001 and Rs 3,00,000, 20 per cent for income between Rs 3,00,001 and Rs 5,00,000 and 30 per cent for income above Rs 5,00,001.
Proportionately, similar changes have been made in the taxes related to women and senior citizens aged above 65 years.
Mukherjee also gave another relief to individual tax payers by raising the existing limit of Rs 1,00,000 on tax savings by an additional amount of Rs 20,000 for investments in long-term infrastructure bonds.
Contributions to Central Government Health Scheme (CGHS) have also been allowed as deductions within the overall ceiling for tax rebate besides contributions to health insurance schemes which are currently allowed as deductions under the Income Tax Act.
The entire opposition walked out of the Lok Sabha during the presentation of budget by finance minister Pranab Mukherjee, dubbing it "highly inflationary" as he partially rolled back the stimulus by hiking the ad velorum component of excise duty on large cars and multi-utility vehicles by two per cent to 22 per cent.
The budget also raised the specific rates of duty on portland cement and cement clinker. The basic duty of 5 per cent on crude petroleum, 7.5 per cent on diesel and petrol and 10 per cent on other refined products is being enhanced.
The central excise duty on petrol and diesel is being enhanced by Re one per litre.
The proposals relating to customs and central excise are estimated to result in a net revenue gain of Rs 43,500 crore for the year. The proposals for service tax, in which government plans to bring in some more services, will result in a net revenue gain of Rs 3000 crore for the year.
While direct tax proposals are expected to result in a loss of Rs 26,000 crore for the year, those relating to indirect tax are estimated to result in a net revenue gain of Rs 46,500 crore.
Taking into account the concessions and measures to mobilise additional resources, the overall revenue gain is estimated to be Rs 20,500 crore for the year.
The budget also proposed a hike in defence expenditure from Rs 1,41,703 crore to Rs 1,47,344 crore, including Rs 60,000 for capital expenditure.
In the Budget Estimates for 2010-11, gross tax receipts are estimated at Rs 7,46,651 crore while the non-tax revenue receipts are estimated at Rs 1,48,118 crore.
Total expenditure is placed at Rs 11,08,749 crore, which is an increase of 8.6 per cent over the total expenditure in Budget Estimates of 2009-10. The plan and non-plan expenditures in Budget Estimates in 2010-11 are estimated at Rs 3,73,092 crore and Rs 7,35,657 crore respectively.
The fiscal deficit for 2010-11 has been pegged at 5.5 per cent and the rolling targets for 2011-12 and 2012-13 have been pegged at 4.8 per cent and 4.1 per cent respectively.
The fiscal deficit of 5.5 per cent of GDP in 2010-11 works out to Rs 3,81,408 crore. Taking into account various other financing items for fiscal deficit, the actual net borrowing of the government in 2010-11 would be of the order of Rs 3,45,010 crore.
In direct taxes, the Finance Minister proposed to reduce the current surcharge of 10 per cent on domestic companies to 7.5 per cent but at the same time raised the rate of Minimum Alternate Tax (MAT) from 15 per cent to 18 per cent of book profits.
In indirect taxes, Mukherjee made structural changes in the excise duty on cigarettes, cigars and cigarillos, coupled with some increase in rates. He also proposed to enhance excise duty on all non-smoking tobacco such as scented tobacco, snuff and chewing tobacco.
In addition, he proposed to introduce a compounded levy scheme for chewing tobacco and branded unmanufactured tobacco based on the capacity of pouch-making machines.
Attempting to pay focused attention to agriculture and related sectors, the Finance Minister proposed to provide project import status with a concessional import duty of 5 per cent for setting up mechanised handling systems and pallet-racking systems in mandis and warehouses for foodgrain and sugar as well as full exemption from service tax for installation and commissioning of such equipment.
A similar status on customs duty with full exemption from service tax will also be extended to initial setting up and expansion of cold storage, cold room and processing units for such produce.
Extending his goodies in excise duties in certain sectors, he gave full exemption to toy balloons and reduction in basic customs duty on long pepper, asafoetida and excise duty on goods covered under Medicinal and Toilet Preparations Act.
The Service Tax net is being expanded to include domestic and international air journeys of all classes, health check-up undertaken by hospitals for employees of business entities and health services provided under health insurance schemes offered by insurance companies.
Budget highlights
NEW DELHI: Highlights of 2010-11 budget presented by Finance Minister Pranab Mukherjee in parliament Friday:
-- Clean energy cess of Rs.50 per tonne on coal produced in India
-- Concessional duty of 4 percent for solar power rickshaw developed by Council of Scientific and Industrial Research
-- Concessional customs duty of 5 percent for cable TV operators for importing equipment
-- Toys fully exempt from central excise duty
-- Service sector tax retained at 10 percent to aid the introduction of GST; more services to be taxed
-- Accredited news agencies exempt from service tax
-- Net revenue gain Rs.22,500 crore
-- Taxes on large cars and SUVs increased 2 percent to 22 percent
-- Basic duty of 5 percent on crude oil restored
-- Tax on cigarettes, cigars and chewing tobacco increased
-- Rs. 26,000 crore revenue loss due to reduction of direct taxes
-- Partial roll back of reduction in central excise duty
-- Income up to Rs.1.6 lakh per year exempt from income tax; up to Rs.5 lakh to be taxed at 10 percent; income of Rs.5-8 lakh to be taxed at 20 percent and income above Rs.8 lakh to be taxed at 30 percent
-- IT returns forms for individual tax payers to be further simplified
-- Expenditure in 2010-11 estimated at 11,l8,749 crore
-- Fiscal deficit estimated at 5.5 percent in 2010-11; an improvement of 1 percent over 2009-10
-- Two more centralised tax processing centres to be set up in addition to the one at Bangalore
-- National Social Security Fund created for workers in unorganised sector with allocation of Rs.1,000 crore
-- Government to give Rs.1,000 for each National Pension Scheme account opened by workers in the unorganised sector
-- Exclusive skill development programme for the textile sector
-- Fifty percent hike in allocation for schemes for women and child development
-- Rs.4,500 crore allocated for ministry of social justice and empowerment, a hike of 80 percent
-- Rs.2,600 crore allocated for ministry of minorities affairs
-- Rs.1,900 crore for Unique Identification Authority of India
-- Rs.147,344 crore allocated for defence
-- 2,000 youth to be recruited in central paramilitary forces
-- Draft Food Security Bill prepared and will be put in the public domain
-- Allocation on primary education raised from Rs.26,800 crore to Rs.31,300 crore
-- Banking facilities to be provided to all habitations with a population of 2,000 and more
-- Rs.66,100 crore allocated for rural development in 2010-11; Rs.40,100 crore for National Rural Employment Scheme; RS.48,000 crore for Bharat Nirman
-- Rs.1,270 crore allocated for Rajiv Awas Yojana for slum dwellers, up from Rs.150 crore, an increase of 700 percent with the aim of creating a slum free India.
-- Forty-six percent of plan allocations in 2010-11 will be for infrastructure development
-- Coal Regulatory Authority to be set up to benchmark standards of performance
-- Allocation for new and renewable energy sector increased 61 percent from Rs.620 crore to Rs.1,000 crore in 2010-11
-- National Clean Energy Fund to be established
-- Rs.200 crore allocated as special package for Goa to prevent erosion and increase green cover
-- Government committed to growth of SEZs
-- Four-pronged strategy for growth of agricultural sector
-- Rs.200 crore to be provided in 2010-11 for climate-resilient agricultural initiative
-- Involvement of private sector in grain storage to continue for another two years
-- In view of drought and floods, debt repayment period extended to June 2010
-- Five more mega food processing projects in addition to 10 existing ones
-- FDI flows in April-December 2009 $20.9 billion
-- FDI policy to be made more user-friendly with one comprehensive document
-- Apex level financial stability council to be set up for banking sector
-- Indian Banking Association to give additional licences to private players
-- Provision for further capital for regional rural banks
-- Roadmap for reducing public debt in six months
-- Implementation of direct tax code from April 2011
-- Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011
-- New fertiliser policy from April 2010; will lead to improved productively and more income for farmers
-- Economy stabilised in first quarter of 2009-10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account
-- Export figures for January encouraging
-- Hope to breach 10 percent growth mark in not too distant future
-- Government set in motion steps to bring down food inflation
-- Need to review stimulus package; need to make growth more broad-based
-- India has weathered global economic crisis well; Indian economy in far better position than it was a year ago. In 2009 Indian economy faced grave uncertainty; delay in southwest monsoon had undermined agricultural production
-- First challenge now is to quickly revert to 9 percent growth and then aim for double digit growth; need to make recovery more broadbased
-- Second challenge is to make growth more inclusive; have to strengthen food security
-- Third challenge is to overcome weakness in government's public delivery mechanism; a long way to go in this
Mere 4% hike in defence budget
New Delhi: The government allocated Rs 1,47,344 crore towards defence in 2010-11 budget, a paltry 4 per cent increase from last year's Rs 1,41,703 crore.
Of the allocation provided, Rs 60,000 crore would go for capital expenditure, Finance Minister Pranab Mukherjee said presenting the Budget for 2010-11 in the Lok Sabha.
The four per cent increase in real terms would amount to only Rs 5,641 crore.
Last year, the government had provided a steep hike of about 34 per cent for the defence working out to an increase of Rs 36,103 crore.
Mukherjee, however, said considering the importance of defence of the country, more funds would be provided on the basis of requirements in the future.
The defence allocation continues to hover over 2.5 per cent of the GDP, though there have been suggestions to increase it substantially in view of the prevailing security situation.
Cigarettes, TVs, ACs and cars go dearer
New Delhi: Pay more for cars, fuel, TVs, ACs, cigarettes,Car, fuel, AC, TV, gold and silver jewellery, cigarettes and other tobacco products will cost more in the new fiscal with Finance Minister Pranab Mukherjee proposing a hike in duties and change in tax structure on these items in the Budget for 2010-11.
As part of a partial withdrawal of stimulus measures, given the recovery seen in the economy, Mukherjee announced hiking excise duty on non-oil products to 10 per cent from 8 per cent across all sectors.
Within minutes, car manufacturers announced that they would hike prices while government officials said that petrol and diesel would cost Rs 2.67 and Rs 2.58 more per litre, respectively, from midnight tonight.
Perhaps, Mukherjee wanted to create more demand by giving more tax concessions and provide more money in consumers' hand so that they buy more and boost the industry and economy.
Prices of consumer durables and electronic items are set to go up, although mobile handsets made in India and accessories will see price cuts with the government providing exemption in customs duty on import of key components.
The Finance Minister also increased excise on petrol and diesel by Re one per litre, following which duty on branded petrol will now be Rs 15.5 per litre and that of branded diesel will be 5.75 per litre. Non-branded petrol will attract duty of 14.35 per litre and that of diesel will be 4.60 per litre.
At least nine Indians killed in Kabul suicide attacks
At least nine Indians were among 16 people killed as Taliban suicide bombers carried out a string of attacks in the heart of Kabul, in yet another incident targeting Indian interests in Afghanistan.
The bombers struck at a number of guest houses, particularly at Park Residence, rented out by the Indian embassy for its staffers and those linked to India's developmental work in Afghanistan.
Describing it as a "heinous terrorist attack," External Affairs Minister S M Krishna said as per the preliminary information provided by Afghan Government officials, "up to nine Indians... have lost their lives".
"A few Indians have been injured, most of whom are reported to be out of danger. Arrangements are being made for their adequate and expeditious treatment, if necessary, by evacuating them to India," he said in a statement.
The Indians, who died in the incident included embassy staffers from consulates in Herat and Kandahar, a member of a medical mission and Government officials, embassy sources said without giving their identity or breakup.
They said 12 Indians were also injured in the attack which also killed an Italian diplomat, a French tourist and a number of policemen.
This is the fourth attack targeted at Indians in Kabul since July 2008 when 60 people, including four Indian embassy officials, were killed in a massive car bomb attack on the embassy building.
India and Afghanistan had pointed the finger at Pakistan for the July 2008 attack on the embassy, with reports suggesting that the Haqqani network had carried out the strike.
Strongly condemning the attack, Afghan President Hamid Karzai said it would not be allowed to hurt Afghan-Indian relations. "Attacks on Indian citizens will not affect relations between India and Afghanistan," he said.
In a statement, Karzai said he "strongly condemns" the terrorist attacks that occurred targeting two guesthouses in central Kabul where most of the guests were Indians.
Krishna termed the attacks as "barbaric" and a matter of "deep concern" and said they were clearly aimed against the people of India and Afghanistan.
"These are the handiwork of those who are desperate to undermine the friendship between India and Afghanistan, and do not wish to see a strong, democratic and pluralistic Afghanistan," he said.
Kasaif, an employee of the Indian embassy staying at the guest-house said the attack came in the early morning. "We locked our rooms and stayed inside as the premises was rocked by gunfire," he said.
Business News
Union Budget 2010: Winners and losers
India needs to review public spending and improve its fiscal position, Finance Minister Pranab Mukherjee said on Friday, kicking-off the presentation of his budget for the fiscal year that starts on April 1.
Following are the major sectors that are likely to gain or lose from the proposals of the budget:
WINNERS:
* Construction and engineering companies such as Larsen & Toubro, GMR Infrastructure, Jaiprakash Associates and Gammon Infra on proposal to invest 1.73 trillion rupees ($7.4 billion) on infrastructure in 2010/11.
The capital good index was up 1.8 per cent by 0804 GMT, in line with the rise in the broader market.
* Real estate firms such as DLF, Unitech and Sobha Developers after the budget proposed to give developers tax deductions on existing projects and relaxed norms for built-up area. The sector index was up 4.8 per cent.
* Drugmakers such as Dr Reddy's Laboratories, Cipla and Biocon after weighted deduction on in-house research and development expenses was proposed to be raised to 200 per cent from 150 per cent now.
* Hospitality services providers such as Indian Hotels, EIH and Taj GVK Hotels on proposal to allow firms setting up new two-star and above hotels to claim investment-linked tax deduction.
* State-run bank shares such as State Bank of India, Andhra Bank, Canara Bank and Bank of India on proposal to provide 165 billion rupees ($3.6 billion) for recapitalisation. The sector index was up 3.3 per cent.
* Education service providers such as Educomp Solutions, NITT and Aptech after the budget increased allocation to the education sector to 1.38 trillion rupees in the union budget.
LOSERS:
* Outsourcers such as Infosys Technologies, Tata Consultancy Services and Wipro on no mention of extension of a tax holiday scheme for software firms in the budget speech. The tax break ends in March 2011. The sector index was flat in a firm market.
* Cigarette makers such as ITC after the budget proposed to raise excise duty on tobacco products. Shares in ITC was down 3.6 per cent, after having fallen as much as 4 per cent earlier.
Fuel prices to rise by up to Rs 2.67/litre
New Delhi: Petrol and diesel prices will go up by Rs 2.67 a litre and Rs 2.58 per litre, respectively, after Finance Minister Pranab Mukherjee on Friday raised customs and excise duties on the two, virtually putting the Kirit Parikh Committee report on fuel price in cold storage.
Customs duty on petrol and diesel were hiked to 7.5 per cent from 2.5 per cent while excise duty was raised by Re one a litre to Rs 14.35 and Rs 4.60 per litre on non-branded (normal) petrol and diesel respectively.
The incidence of customs and excise duty would result in petrol prices going up by Rs 2.67 a litre in Delhi and diesel by Rs 2.58 per litre with effect from midnight tonight.
Petrol, in Delhi currently costs Rs 44.72 a litre and diesel Rs 32.92 per litre.
Mukherjee also imposed 5 per cent import duty on crude (currently nil), a move that would impact refiners like Reliance Industries and Essar Oil with their input cost going up.
Reliance Industries' 33 million tons a year refinery catering to domestic market would alone have to bear Rs 5,100 crore because of higher rates. Its other 29 million tons unit is only for exports and does not pay customs duty.
The rates hike virtually put the Parikh report on fuel pricing reforms in cold storage as implementing the expert group report on freeing petrol and diesel prices would mean a further Rs 4.94 a litre increase in petrol and Rs 3.20 per litre hike in diesel rates.
Sports News
We have improved in avoiding last-gasp goals: Rajpal
New Delhi: India has improved a lot in sorting out the old malaise of conceding last-minute goals and it would help the home side in reaching the semifinals of the hockey World Cup starting on Sunday, captain Rajpal Singh said on Friday.
"It (conceding last-gasp goals) has to do with the mental aspect. We have worked on this aspect and I think we are improving," he said after the pre-tournament press conference here.
"Instead of the opposition putting pressure on us at the closing stages of a match we have started scoring. We scored last-gasp goal at Salta (Argentina) during the Champions Challenge I late last year," he added.
Rajpal said his side's target would be to reach the semifinals and hoped from there they can win the title.
"Our target is to reach the semifinals and see from there what happens. Once you reach the semifinals it will be anybody's game (to lift the title). We have prepared very well and we are focused," he said.
Asked if the pressure of expectation would weigh down his side, Rajpal said, "It (pressure) is good. It will give us motivation to do well in front of home crowd. If we do well and at least reach the semifinals it will give a big boost to Indian hockey."
NEW DELHI: The 2010-11 general budget today provided considerable relief to income tax payers by raising the slabs at two levels but hiked the central excise duty on non-petroleum products across the board from 8 to 10 per cent and the basic duty on crude and petroleum products besides effecting a one-rupee increase per litre on petrol and diesel.
The basic threshold limit for income tax exemption will remain at Rs 1.60 lakh. Under the new proposal, 10 per cent tax will be levied between Rs 1,60,001 and Rs 5,00,000, 20 per cent on incomes between Rs 5,00,001 and Rs 8,00,000 and 30 per cent above Rs 8,00,000.
The present income tax slabs and rates are 10 per cent for income between Rs 1,60,001 and Rs 3,00,000, 20 per cent for income between Rs 3,00,001 and Rs 5,00,000 and 30 per cent for income above Rs 5,00,001.
Proportionately, similar changes have been made in the taxes related to women and senior citizens aged above 65 years.
Mukherjee also gave another relief to individual tax payers by raising the existing limit of Rs 1,00,000 on tax savings by an additional amount of Rs 20,000 for investments in long-term infrastructure bonds.
Contributions to Central Government Health Scheme (CGHS) have also been allowed as deductions within the overall ceiling for tax rebate besides contributions to health insurance schemes which are currently allowed as deductions under the Income Tax Act.
The entire opposition walked out of the Lok Sabha during the presentation of budget by finance minister Pranab Mukherjee, dubbing it "highly inflationary" as he partially rolled back the stimulus by hiking the ad velorum component of excise duty on large cars and multi-utility vehicles by two per cent to 22 per cent.
The budget also raised the specific rates of duty on portland cement and cement clinker. The basic duty of 5 per cent on crude petroleum, 7.5 per cent on diesel and petrol and 10 per cent on other refined products is being enhanced.
The central excise duty on petrol and diesel is being enhanced by Re one per litre.
The proposals relating to customs and central excise are estimated to result in a net revenue gain of Rs 43,500 crore for the year. The proposals for service tax, in which government plans to bring in some more services, will result in a net revenue gain of Rs 3000 crore for the year.
While direct tax proposals are expected to result in a loss of Rs 26,000 crore for the year, those relating to indirect tax are estimated to result in a net revenue gain of Rs 46,500 crore.
Taking into account the concessions and measures to mobilise additional resources, the overall revenue gain is estimated to be Rs 20,500 crore for the year.
The budget also proposed a hike in defence expenditure from Rs 1,41,703 crore to Rs 1,47,344 crore, including Rs 60,000 for capital expenditure.
In the Budget Estimates for 2010-11, gross tax receipts are estimated at Rs 7,46,651 crore while the non-tax revenue receipts are estimated at Rs 1,48,118 crore.
Total expenditure is placed at Rs 11,08,749 crore, which is an increase of 8.6 per cent over the total expenditure in Budget Estimates of 2009-10. The plan and non-plan expenditures in Budget Estimates in 2010-11 are estimated at Rs 3,73,092 crore and Rs 7,35,657 crore respectively.
The fiscal deficit for 2010-11 has been pegged at 5.5 per cent and the rolling targets for 2011-12 and 2012-13 have been pegged at 4.8 per cent and 4.1 per cent respectively.
The fiscal deficit of 5.5 per cent of GDP in 2010-11 works out to Rs 3,81,408 crore. Taking into account various other financing items for fiscal deficit, the actual net borrowing of the government in 2010-11 would be of the order of Rs 3,45,010 crore.
In direct taxes, the Finance Minister proposed to reduce the current surcharge of 10 per cent on domestic companies to 7.5 per cent but at the same time raised the rate of Minimum Alternate Tax (MAT) from 15 per cent to 18 per cent of book profits.
In indirect taxes, Mukherjee made structural changes in the excise duty on cigarettes, cigars and cigarillos, coupled with some increase in rates. He also proposed to enhance excise duty on all non-smoking tobacco such as scented tobacco, snuff and chewing tobacco.
In addition, he proposed to introduce a compounded levy scheme for chewing tobacco and branded unmanufactured tobacco based on the capacity of pouch-making machines.
Attempting to pay focused attention to agriculture and related sectors, the Finance Minister proposed to provide project import status with a concessional import duty of 5 per cent for setting up mechanised handling systems and pallet-racking systems in mandis and warehouses for foodgrain and sugar as well as full exemption from service tax for installation and commissioning of such equipment.
A similar status on customs duty with full exemption from service tax will also be extended to initial setting up and expansion of cold storage, cold room and processing units for such produce.
Extending his goodies in excise duties in certain sectors, he gave full exemption to toy balloons and reduction in basic customs duty on long pepper, asafoetida and excise duty on goods covered under Medicinal and Toilet Preparations Act.
The Service Tax net is being expanded to include domestic and international air journeys of all classes, health check-up undertaken by hospitals for employees of business entities and health services provided under health insurance schemes offered by insurance companies.
Budget highlights
NEW DELHI: Highlights of 2010-11 budget presented by Finance Minister Pranab Mukherjee in parliament Friday:
-- Clean energy cess of Rs.50 per tonne on coal produced in India
-- Concessional duty of 4 percent for solar power rickshaw developed by Council of Scientific and Industrial Research
-- Concessional customs duty of 5 percent for cable TV operators for importing equipment
-- Toys fully exempt from central excise duty
-- Service sector tax retained at 10 percent to aid the introduction of GST; more services to be taxed
-- Accredited news agencies exempt from service tax
-- Net revenue gain Rs.22,500 crore
-- Taxes on large cars and SUVs increased 2 percent to 22 percent
-- Basic duty of 5 percent on crude oil restored
-- Tax on cigarettes, cigars and chewing tobacco increased
-- Rs. 26,000 crore revenue loss due to reduction of direct taxes
-- Partial roll back of reduction in central excise duty
-- Income up to Rs.1.6 lakh per year exempt from income tax; up to Rs.5 lakh to be taxed at 10 percent; income of Rs.5-8 lakh to be taxed at 20 percent and income above Rs.8 lakh to be taxed at 30 percent
-- IT returns forms for individual tax payers to be further simplified
-- Expenditure in 2010-11 estimated at 11,l8,749 crore
-- Fiscal deficit estimated at 5.5 percent in 2010-11; an improvement of 1 percent over 2009-10
-- Two more centralised tax processing centres to be set up in addition to the one at Bangalore
-- National Social Security Fund created for workers in unorganised sector with allocation of Rs.1,000 crore
-- Government to give Rs.1,000 for each National Pension Scheme account opened by workers in the unorganised sector
-- Exclusive skill development programme for the textile sector
-- Fifty percent hike in allocation for schemes for women and child development
-- Rs.4,500 crore allocated for ministry of social justice and empowerment, a hike of 80 percent
-- Rs.2,600 crore allocated for ministry of minorities affairs
-- Rs.1,900 crore for Unique Identification Authority of India
-- Rs.147,344 crore allocated for defence
-- 2,000 youth to be recruited in central paramilitary forces
-- Draft Food Security Bill prepared and will be put in the public domain
-- Allocation on primary education raised from Rs.26,800 crore to Rs.31,300 crore
-- Banking facilities to be provided to all habitations with a population of 2,000 and more
-- Rs.66,100 crore allocated for rural development in 2010-11; Rs.40,100 crore for National Rural Employment Scheme; RS.48,000 crore for Bharat Nirman
-- Rs.1,270 crore allocated for Rajiv Awas Yojana for slum dwellers, up from Rs.150 crore, an increase of 700 percent with the aim of creating a slum free India.
-- Forty-six percent of plan allocations in 2010-11 will be for infrastructure development
-- Coal Regulatory Authority to be set up to benchmark standards of performance
-- Allocation for new and renewable energy sector increased 61 percent from Rs.620 crore to Rs.1,000 crore in 2010-11
-- National Clean Energy Fund to be established
-- Rs.200 crore allocated as special package for Goa to prevent erosion and increase green cover
-- Government committed to growth of SEZs
-- Four-pronged strategy for growth of agricultural sector
-- Rs.200 crore to be provided in 2010-11 for climate-resilient agricultural initiative
-- Involvement of private sector in grain storage to continue for another two years
-- In view of drought and floods, debt repayment period extended to June 2010
-- Five more mega food processing projects in addition to 10 existing ones
-- FDI flows in April-December 2009 $20.9 billion
-- FDI policy to be made more user-friendly with one comprehensive document
-- Apex level financial stability council to be set up for banking sector
-- Indian Banking Association to give additional licences to private players
-- Provision for further capital for regional rural banks
-- Roadmap for reducing public debt in six months
-- Implementation of direct tax code from April 2011
-- Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011
-- New fertiliser policy from April 2010; will lead to improved productively and more income for farmers
-- Economy stabilised in first quarter of 2009-10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account
-- Export figures for January encouraging
-- Hope to breach 10 percent growth mark in not too distant future
-- Government set in motion steps to bring down food inflation
-- Need to review stimulus package; need to make growth more broad-based
-- India has weathered global economic crisis well; Indian economy in far better position than it was a year ago. In 2009 Indian economy faced grave uncertainty; delay in southwest monsoon had undermined agricultural production
-- First challenge now is to quickly revert to 9 percent growth and then aim for double digit growth; need to make recovery more broadbased
-- Second challenge is to make growth more inclusive; have to strengthen food security
-- Third challenge is to overcome weakness in government's public delivery mechanism; a long way to go in this
Mere 4% hike in defence budget
New Delhi: The government allocated Rs 1,47,344 crore towards defence in 2010-11 budget, a paltry 4 per cent increase from last year's Rs 1,41,703 crore.
Of the allocation provided, Rs 60,000 crore would go for capital expenditure, Finance Minister Pranab Mukherjee said presenting the Budget for 2010-11 in the Lok Sabha.
The four per cent increase in real terms would amount to only Rs 5,641 crore.
Last year, the government had provided a steep hike of about 34 per cent for the defence working out to an increase of Rs 36,103 crore.
Mukherjee, however, said considering the importance of defence of the country, more funds would be provided on the basis of requirements in the future.
The defence allocation continues to hover over 2.5 per cent of the GDP, though there have been suggestions to increase it substantially in view of the prevailing security situation.
Cigarettes, TVs, ACs and cars go dearer
New Delhi: Pay more for cars, fuel, TVs, ACs, cigarettes,Car, fuel, AC, TV, gold and silver jewellery, cigarettes and other tobacco products will cost more in the new fiscal with Finance Minister Pranab Mukherjee proposing a hike in duties and change in tax structure on these items in the Budget for 2010-11.
As part of a partial withdrawal of stimulus measures, given the recovery seen in the economy, Mukherjee announced hiking excise duty on non-oil products to 10 per cent from 8 per cent across all sectors.
Within minutes, car manufacturers announced that they would hike prices while government officials said that petrol and diesel would cost Rs 2.67 and Rs 2.58 more per litre, respectively, from midnight tonight.
Perhaps, Mukherjee wanted to create more demand by giving more tax concessions and provide more money in consumers' hand so that they buy more and boost the industry and economy.
Prices of consumer durables and electronic items are set to go up, although mobile handsets made in India and accessories will see price cuts with the government providing exemption in customs duty on import of key components.
The Finance Minister also increased excise on petrol and diesel by Re one per litre, following which duty on branded petrol will now be Rs 15.5 per litre and that of branded diesel will be 5.75 per litre. Non-branded petrol will attract duty of 14.35 per litre and that of diesel will be 4.60 per litre.
At least nine Indians killed in Kabul suicide attacks
At least nine Indians were among 16 people killed as Taliban suicide bombers carried out a string of attacks in the heart of Kabul, in yet another incident targeting Indian interests in Afghanistan.
The bombers struck at a number of guest houses, particularly at Park Residence, rented out by the Indian embassy for its staffers and those linked to India's developmental work in Afghanistan.
Describing it as a "heinous terrorist attack," External Affairs Minister S M Krishna said as per the preliminary information provided by Afghan Government officials, "up to nine Indians... have lost their lives".
"A few Indians have been injured, most of whom are reported to be out of danger. Arrangements are being made for their adequate and expeditious treatment, if necessary, by evacuating them to India," he said in a statement.
The Indians, who died in the incident included embassy staffers from consulates in Herat and Kandahar, a member of a medical mission and Government officials, embassy sources said without giving their identity or breakup.
They said 12 Indians were also injured in the attack which also killed an Italian diplomat, a French tourist and a number of policemen.
This is the fourth attack targeted at Indians in Kabul since July 2008 when 60 people, including four Indian embassy officials, were killed in a massive car bomb attack on the embassy building.
India and Afghanistan had pointed the finger at Pakistan for the July 2008 attack on the embassy, with reports suggesting that the Haqqani network had carried out the strike.
Strongly condemning the attack, Afghan President Hamid Karzai said it would not be allowed to hurt Afghan-Indian relations. "Attacks on Indian citizens will not affect relations between India and Afghanistan," he said.
In a statement, Karzai said he "strongly condemns" the terrorist attacks that occurred targeting two guesthouses in central Kabul where most of the guests were Indians.
Krishna termed the attacks as "barbaric" and a matter of "deep concern" and said they were clearly aimed against the people of India and Afghanistan.
"These are the handiwork of those who are desperate to undermine the friendship between India and Afghanistan, and do not wish to see a strong, democratic and pluralistic Afghanistan," he said.
Kasaif, an employee of the Indian embassy staying at the guest-house said the attack came in the early morning. "We locked our rooms and stayed inside as the premises was rocked by gunfire," he said.
Business News
Union Budget 2010: Winners and losers
India needs to review public spending and improve its fiscal position, Finance Minister Pranab Mukherjee said on Friday, kicking-off the presentation of his budget for the fiscal year that starts on April 1.
Following are the major sectors that are likely to gain or lose from the proposals of the budget:
WINNERS:
* Construction and engineering companies such as Larsen & Toubro, GMR Infrastructure, Jaiprakash Associates and Gammon Infra on proposal to invest 1.73 trillion rupees ($7.4 billion) on infrastructure in 2010/11.
The capital good index was up 1.8 per cent by 0804 GMT, in line with the rise in the broader market.
* Real estate firms such as DLF, Unitech and Sobha Developers after the budget proposed to give developers tax deductions on existing projects and relaxed norms for built-up area. The sector index was up 4.8 per cent.
* Drugmakers such as Dr Reddy's Laboratories, Cipla and Biocon after weighted deduction on in-house research and development expenses was proposed to be raised to 200 per cent from 150 per cent now.
* Hospitality services providers such as Indian Hotels, EIH and Taj GVK Hotels on proposal to allow firms setting up new two-star and above hotels to claim investment-linked tax deduction.
* State-run bank shares such as State Bank of India, Andhra Bank, Canara Bank and Bank of India on proposal to provide 165 billion rupees ($3.6 billion) for recapitalisation. The sector index was up 3.3 per cent.
* Education service providers such as Educomp Solutions, NITT and Aptech after the budget increased allocation to the education sector to 1.38 trillion rupees in the union budget.
LOSERS:
* Outsourcers such as Infosys Technologies, Tata Consultancy Services and Wipro on no mention of extension of a tax holiday scheme for software firms in the budget speech. The tax break ends in March 2011. The sector index was flat in a firm market.
* Cigarette makers such as ITC after the budget proposed to raise excise duty on tobacco products. Shares in ITC was down 3.6 per cent, after having fallen as much as 4 per cent earlier.
Fuel prices to rise by up to Rs 2.67/litre
New Delhi: Petrol and diesel prices will go up by Rs 2.67 a litre and Rs 2.58 per litre, respectively, after Finance Minister Pranab Mukherjee on Friday raised customs and excise duties on the two, virtually putting the Kirit Parikh Committee report on fuel price in cold storage.
Customs duty on petrol and diesel were hiked to 7.5 per cent from 2.5 per cent while excise duty was raised by Re one a litre to Rs 14.35 and Rs 4.60 per litre on non-branded (normal) petrol and diesel respectively.
The incidence of customs and excise duty would result in petrol prices going up by Rs 2.67 a litre in Delhi and diesel by Rs 2.58 per litre with effect from midnight tonight.
Petrol, in Delhi currently costs Rs 44.72 a litre and diesel Rs 32.92 per litre.
Mukherjee also imposed 5 per cent import duty on crude (currently nil), a move that would impact refiners like Reliance Industries and Essar Oil with their input cost going up.
Reliance Industries' 33 million tons a year refinery catering to domestic market would alone have to bear Rs 5,100 crore because of higher rates. Its other 29 million tons unit is only for exports and does not pay customs duty.
The rates hike virtually put the Parikh report on fuel pricing reforms in cold storage as implementing the expert group report on freeing petrol and diesel prices would mean a further Rs 4.94 a litre increase in petrol and Rs 3.20 per litre hike in diesel rates.
Sports News
We have improved in avoiding last-gasp goals: Rajpal
New Delhi: India has improved a lot in sorting out the old malaise of conceding last-minute goals and it would help the home side in reaching the semifinals of the hockey World Cup starting on Sunday, captain Rajpal Singh said on Friday.
"It (conceding last-gasp goals) has to do with the mental aspect. We have worked on this aspect and I think we are improving," he said after the pre-tournament press conference here.
"Instead of the opposition putting pressure on us at the closing stages of a match we have started scoring. We scored last-gasp goal at Salta (Argentina) during the Champions Challenge I late last year," he added.
Rajpal said his side's target would be to reach the semifinals and hoped from there they can win the title.
"Our target is to reach the semifinals and see from there what happens. Once you reach the semifinals it will be anybody's game (to lift the title). We have prepared very well and we are focused," he said.
Asked if the pressure of expectation would weigh down his side, Rajpal said, "It (pressure) is good. It will give us motivation to do well in front of home crowd. If we do well and at least reach the semifinals it will give a big boost to Indian hockey."
Wednesday, February 24, 2010
Latest News of India
Tendulkar rewrites history, hits first double ton in ODIs
New Delhi: Milestone man Sachin Tendulkar re-wrote the record books on Wednesday, hammering the first double century in the history of one-day cricket to add another feather to his well-adorned cap.
The capacity crowd at the Captain Roop Singh Stadium witnessed history on Wednesday as Tendulkar, statistically the greatest batsman the game has ever seen, pushed a Charl Langeveldt delivery through the off-side and ran a single to achieve a feat which no other cricketer has achieved.
One Day International cricket, since its 1971 inception, had to wait nearly four decades to see a batsman score 200. The previous best mark was shared by Zimbabwean Charles Coventry (194 not out) and Pakistan's Saeed Anwar (194).
As the crowd erupted with unbridled joy, Tendulkar, tired but composed, took off his helmet, looked skyward, closed his eyes to offer a silent prayer.
His captain Mahendra Singh Dhoni came down from the striker's end to shake hands and hug him. And as Tendulkar set on his way back to the pavilion after the completion of the Indian innings, a tumultuous celebration greeted him.
The crowd gave him a standing ovation as the entire stadium erupted in euphoria while his teammates were simply ecstatic as they clapped and hugged each other, basking in the glory of their senior teammates.
Tendulkar batted like a man with a mission today and the South African bowlers simply had no clue where to bowl. Once he crossed the 150-mark, the crowd anticipated something special and Tendulkar did not let them down.
A six off Roelof van der Merwe took him past Kapil Dev's 175 not out and in the next over, he hit Jacques Kallis for a four to equal his previous best of 186 not out that had come against New Zealand in Hyderabad in 1999.
The crowd got restless as Tendulkar approached the
194-run mark and a couple off Wayne Parnell saw him eclipse it.
His teammates and spectators were on the edge of their seat with a double century round the corner but with Dhoni going berserk at the striker's end and facing most of the deliveries; it was an agonising wait for all.
Dhoni took singles off the final deliveries of the
47th-49th overs and Tendulkar finally took strike with four balls left in the innings. The first ball he received from Langeveldt was steered past point and Tendulkar ran for a single to remain unbeaten after an unforgettable unbeaten 200 that came off just 147 balls with 25 fours and three sixes in it.
It was yet another milestone for the man, who has some 30,000 international runs under his belt, including 93 centuries (47 in Tests and 46 in ODIs).
President, PM congratulate Sachin for first double ton in ODIs
New Delhi: President Pratibha Patil and Prime Minister Manmohan Singh on Wednesday congratulated Sachin Tendulkar for becoming the first cricketer to score a double ton in one-day internationals and said the "master batsman" has climbed the "Mt Everest of the game".
"Sachin Tendulkar has yet again re-written the record books of cricket, by climbing yet another Mt Everest of the game," Patil said in a message. She said in setting a new benchmark for the highest score by a batsman in one-day internationals as well as in notching up a double century, "the master batsman has set stiff targets" for future generation of cricketers to break.
Terming it a "magnificent achievement", the Prime Minister said that Sachin has led by "example and that all Indians are proud of his achievement". Singh wished him many more glorious years in his cricketing career.
36-year-old Tendulkar today created history by becoming the first cricketer to score a double century in one-day internationals with a breath-taking unbeaten 200 to steer India to a massive 401 for three against South Africa in the second cricket ODI in Gwalior.
Tendulkar a role model for world cricket: Pak players
Karachi: Former and present Pakistani players on Wednesday paid rich tribute to Sachin Tendulkar for becoming the first batsman in the history of the game to score a double hundred in one-dayers and said he is the perfect "role model" for any cricketer.
"For any cricketer he is the perfect role model. The great thing about him is that he has been outstanding in both Tests and ODIs. As a Pakistani player, I know how much value we have always put on his wicket," right-handed batsman Shoaib Malik said about the batting maestro.
Former skipper and wicketkeeper Rashid Latif said the feat was no surprise to him as it was only a matter of time for Tendulkar to achieve it.
"I always expected him to be the first one to score 200 in ODIs, but I was surprised that he took so long," Latif said.
Another former captain Aamir Sohail said, "The rule is simple when you give respect to the game, then only the game will give you respect."
Batting great Javed Miandad said he had always asked Pakistani cricketers to admire Tendulkar for his down to earth attitude, hard work and passion.
"Records are there to be broken but it makes you happy when someone like Tendulkar does it. I think he thoroughly deserves this record and many more in days to come," he said.
J&K: Militant emerges alive from debris, kills jawan before being shot dead
SRINAGAR: A militant, believed to have been killed in the gunbattle at Chinkipora in Sopore, emerged alive from the debris on Wednesday and began firing on security personnel searching for the bodies of slain ultras, killing a jawan but was shot dead in retaliatory fire.
The militant, who is yet to be identified, was killed as the security forces fired back after he began firing indiscriminately injuring a jawan who later died at a hospital, official sources said.
Earlier, body of a militant was recovered from the rubbles of three houses that were destroyed in the gunbattle yesterday.
"Body of an unidentified militant and a weapon was recovered from the debris of the houses earlier today", police sources said.
Terming the heap of rubble at the the scene of the encounter as huge, they said it may take days even for the machines to remove it.
The operation to retrieve the bodies of the militants, who were said to have been killed in the day-long gunbattle yesterday, resumed this morning.
Three armymen, including a captain, were killed in the gunbattle with the militants hiding in three houses at Chinkipora, 55 kms from here, yesterday.
The deceased ary personnel were identified as Captain Davinder Singh Jass, Naik Selva Kumar and Paratrooper Imtiyaz Ahmad Thokar of first Para.
Besides, a civilian identified as Ramiaz Ahmad Malla, who was hit by a stray bullet while being evacuated from the scene, is being treated at a hospital in Srinagar.
Concessions for passengers in Mamata's rail budget
NEW DELHI: The Railway Budget for 2010-11 on Wednesday proposed no increase in passenger fares and freight rates while reducing the tariff by Rs 100 per wagon in transportation of foodgrains, kerosene and fertilisers to tackle the price rise.
The budget, presented by Railway Minister Mamata Banerjee in the Lok Sabha, also proposed to reduce the maximum limit of service charge on e-booking of tickets to Rs 10 for sleeper class and Rs 20 for AC class. The present maximum charge is Rs 15 and Rs 40 respectively.
This is the seventh year in a row that passenger fares have not been raised.
Announcing a slew of concessions for passengers, Banerjee proposed free travel for cancer patients going for treatment in three-tier AC and sleeper class and continuance of concessions for students of madrassas and journalists.
The minister said 101 new suburban services will be introduced in Mumbai and more services will be launched in Kolkata and Chennai.
A special train 'Sanskriti Express' to mark the 150th birth anniversary of Rabindranath Tagore will run across the country and also to Bangladesh.
Special tourist trains called 'Bharat Teerth' will be started on 16 routes while six long-distance non-stop Duronto Express and four short-distance Duronto day trains will be introduced, the railway minister said.
Referring to hardships faced by people because of the high food prices, Banerjee said, "I understand their distress. Despite Railways' own tight resource position I announce reduction of Rs 100 per wagon in freight charges for foodgrains for domestic use and kerosene. This is a small gesture to express our concern."
While ladies special trains would be renamed 'Matribhoomi Specials', three unreserved trains named 'Karambhoomi specials' would be introduced along with new weekly express service 'Janmabhoomi Express' between Ahmedabad and Udhampur.
New services to be introduced include 54 trains, 28 new passenger services, nine MEMU and eight DEMU services. The routes of 21 trains will be extended and the frequency of 12 trains increased.
Other new projects include preliminary engineering-cum- traffic survey for north-south, east-west, east-south and south-south dedicated freight corridors.
Six high-speed passenger train corridors have been identified to be executed through public-private partnership mode and a national high-speed rail authority will be set up for planning, implementing and monitoring these projects.
The financial performance in 2009-10 shows that the loading target of 882 million tonnes is likely to be surpassed by eight million tonnes.
Gross traffic receipts for 2009-10 have been kept at Rs 88,356 crore -- an increase of 10.7 per cent. The full impact of sixth pay commission has been fully absorbed within the railway resources and the current dividend liability will be fully discharged. Annual plan has been kept at Rs 40,284 crore, Banerjee said.
Earlier, Mamata started her speech in the Lok Sabha saying, "Our objective is inclusive growth," adding that her main consideration in this year's budget was social responsibility rather than mere commercial viability of projects.
"We have set our goals in the Vision 2020 document and we will achieve it," the minister said, referring to the document unveiled in December that has targeted making over 30,000 km of routes into double or multiple lines against 18,000 km today.
"It is a fact that administrative and procedural delays discourage potential investors. We will need to overcome this. I am setting up a special task force for this," she said.
"Special structure will be created for the new business model," she said. "But we will not privatise our railways. Indian Railways will remain with the government."
At the same time, she also asked the private sector to refrain from what she called "typical negative approach" while dealing with the Indian Railways. "I am sorry to say this, this mindset has to change."
Prime Minister Manmohan Singh, United Progressive Alliance (UPA) chairperson Sonia Gandhi, Leader of Opposition Sushma Swaraj and finance minister Pranab Mukherjee were among those in the house, presided over by Speaker Meira Kumar.
This was Banerjee's fourth budget of her career as railway minister and the second for the United Progressive Alliance (UPA) government in its second straight term after being voted back to office in May last year.
According to Banerjee, 117 out of the 120 new trains promised in her last budget will be flagged off by March 31, within a matter of seven months, which was a commendable effort.
Seeking to give safety issues due consideration, the minister said there were a few cases of unfortunate accidents in the past and said these would be prevented by adopting the highest level of technology and manpower training.
"Within five years, we will have 13,000 out of unmanned level crossings manned - 3,000 this fiscal and 1,000 in the coming fiscal," she said, referring to the high number of accidents at such crossroads.
The budget came against the backdrop of the share of Indian Railways in the movement of goods, vis a vis truckers, falling from 24.07 percent in 2001-02 to 20.89 percent in 2008-09 and further to 19.32 percent in the first 10 months of this fiscal.
Indian Railways runs the world's second largest network under a single management with a network of 64,099 route km to ferry 18.9 million passengers on 7,000 trains daily from 6,906 stations. It also runs 4,000 freight trains to carry 850 million tonnes of cargo.
Business News
New Delhi: Indian Railways will earn a profit of Rs 951 crore in 2009-10, down 93 per cent from the 2007-08 level.
While the 2009-10 Railway Budget presented in July last year projected profits at Rs 2,642.26 crore, the estimate has been revised downwards by 64 per cent to Rs 951.03 crore.
For the next fiscal, the budget estimates a profit of Rs 3,173.09 crore.
India's largest employer that employs 14 lakh people had registered a record profit of Rs 13,431.09 crore in 2007-08.
From FY'08 to FY'10, the fall in profit is 93 per cent, as per the Railway Budget presented in Parliament on Wednesday.
Profits had started showing a decline even in 2008-09, when it come down to Rs 4,456.78 crore. Year-over-year the fall in profit is about 79 per cent.
Gross traffic receipts have consistently risen since fiscal 1951-52, the year from which the statement showed financial figures for the Indian Railways.
The revised estimates puts gross traffic receipts at Rs 88,355.91 crore for 2009-10, and the budgetary estimate for the next fiscal's gross traffic receipts is Rs 94,764.95 crore, the Railway Budget paper said.
India Inc pleased with rail budget
New Delhi: India Inc welcomed the Railway Budget for sparing freight and passenger fares from any hike and said that it also provided opportunities for private sector to participate in the world's fifth largest transport network.
"I think it provides for much bigger involvement of the private sector...it is welcome," FICCI President Harsh Pati Singhania said.
Assocham described it as "people and industry friendly" since there is no increase in passenger and freight rates.
Presenting the Railway Budget for 2010-11, Railway Minister Mamata Banerjee asked business houses to build partnerships with Railways that employs about 14 lakh people.
A special task force will be set up for early clearance of projects, Banerjee said, adding that Railways will start six water bottling plants in places like Ambala, Farakka, Nasik, Thiruvananthapuram and Amethi to provide clean and cheap drinking water to passengers.
Railways would also develop 10 automobile hubs, she said.
CII Director General Chandrajit Banerjee said: "It is our belief that this would give the right signals to investors in India and abroad to look at Indian Railways in a new light."
However, Assocham President Swati Piramal said: "A clear roadmap for seeking private partnership in railways for it's modernisation and expansion should have been rolled out."
Federation of Indian Mineral Industry Secretary General R K Sharma too termed the Budget as "positive".
Mamata woos corporates, rules out privatisation
New Delhi: Railway Minister Mamata Banerjee on Wednesday presented the Railway Budget 2010-11 in the Parliament, saying that her ministry has come out with ''Vision 2020'' to modernise the railway network.
"I prefer social responsibility to economic responsibility, she said.
Banerjee said, the railways need to catch up with the advanced western nations, adding that the policy guidelines would be made easier and hassle-free.
Railways will not be privatized, she said, adding that in the next five years the whole country would be connected by rail.
Banerjee called on the India Inc to build partnership with the Railways.
The minister announced that the exams for the recruitment in Railway would be conducted in the regional languages as well, adding that English, Hindi, Urdu and other regional languages will be used for Railway entrance exams.
Banerjee said that we have kept our earlier promises and out of 120 trains that were proposed by our ministry, 107 trains were started on time.
She announced that six-bottling points would be set for manufacture of water that will be supplied, adding that the food that is provided to the passengers has also improved over the years.
Village panchayats, hospitals and court would have a e-ticket counter proposed Banerjee, adding that a railway counter would also be set up at the office of the District Magistrate.
Railway is all determined to ensure safety measures, she claimed adding that a ''chowkidaar'' would be placed at every railway crossing in the next five years.
Indian Railways to introduce double-decker trains
New Delhi: Railway Minister Mamata Banerjee on Wednesday announced that the Indian Railway would introduce double-decker train-sets as a pilot project.
Presenting the Railway Budget for the year 2010-2011 in the parliament here, Banerjee said: “Double-decker train-sets matching the best in global standards will be introduced in two trains each from Delhi and Kolkata as a pilot project.”
Declaring that passenger amenities are a very high priority of the Government, she said that a number of initiatives are being taken for this purpose. “Modern trolleys at all important stations with uniformed attendants will be introduced to assist senior citizens and women passengers for carrying their luggage,” Banerjee said.
The Railway Budget also proposed to initiate SMS updates of reservation status and movements of wagons to freight customers. Mobile vans for issuing e-tickets will be extended to government medical college hospitals, court complexes, University campus, IT hubs, IITs and IIMs.
Banerjee also announced that railway reservation ticket centres would also be opened at district headquarters and village panchayats to give more facility to common man.
In order to bring more transparency in freight business, Banerjee announced RFID technology will be introduced for tracking of wagons, allotment of the rakes would be accessible through the web.
Highlighting efforts being made for safety and security of the passenger, Banerjee said the railway is developing crashworthy coaches and locomotives and will provide automatic fire and smoke detection system in 20 pairs of long-distance trains as pilot project.
She announced that manning of further 1,000 level crossing will be taken up during the budget year and added that in coming five years, all the unmanned level crossing will be manned. To assure full security to women passengers, Banerjee announced that formation of 12 companies of women Railway Protection Force (RPF), named “Mahila Vahini.”
New Delhi: Milestone man Sachin Tendulkar re-wrote the record books on Wednesday, hammering the first double century in the history of one-day cricket to add another feather to his well-adorned cap.
The capacity crowd at the Captain Roop Singh Stadium witnessed history on Wednesday as Tendulkar, statistically the greatest batsman the game has ever seen, pushed a Charl Langeveldt delivery through the off-side and ran a single to achieve a feat which no other cricketer has achieved.
One Day International cricket, since its 1971 inception, had to wait nearly four decades to see a batsman score 200. The previous best mark was shared by Zimbabwean Charles Coventry (194 not out) and Pakistan's Saeed Anwar (194).
As the crowd erupted with unbridled joy, Tendulkar, tired but composed, took off his helmet, looked skyward, closed his eyes to offer a silent prayer.
His captain Mahendra Singh Dhoni came down from the striker's end to shake hands and hug him. And as Tendulkar set on his way back to the pavilion after the completion of the Indian innings, a tumultuous celebration greeted him.
The crowd gave him a standing ovation as the entire stadium erupted in euphoria while his teammates were simply ecstatic as they clapped and hugged each other, basking in the glory of their senior teammates.
Tendulkar batted like a man with a mission today and the South African bowlers simply had no clue where to bowl. Once he crossed the 150-mark, the crowd anticipated something special and Tendulkar did not let them down.
A six off Roelof van der Merwe took him past Kapil Dev's 175 not out and in the next over, he hit Jacques Kallis for a four to equal his previous best of 186 not out that had come against New Zealand in Hyderabad in 1999.
The crowd got restless as Tendulkar approached the
194-run mark and a couple off Wayne Parnell saw him eclipse it.
His teammates and spectators were on the edge of their seat with a double century round the corner but with Dhoni going berserk at the striker's end and facing most of the deliveries; it was an agonising wait for all.
Dhoni took singles off the final deliveries of the
47th-49th overs and Tendulkar finally took strike with four balls left in the innings. The first ball he received from Langeveldt was steered past point and Tendulkar ran for a single to remain unbeaten after an unforgettable unbeaten 200 that came off just 147 balls with 25 fours and three sixes in it.
It was yet another milestone for the man, who has some 30,000 international runs under his belt, including 93 centuries (47 in Tests and 46 in ODIs).
President, PM congratulate Sachin for first double ton in ODIs
New Delhi: President Pratibha Patil and Prime Minister Manmohan Singh on Wednesday congratulated Sachin Tendulkar for becoming the first cricketer to score a double ton in one-day internationals and said the "master batsman" has climbed the "Mt Everest of the game".
"Sachin Tendulkar has yet again re-written the record books of cricket, by climbing yet another Mt Everest of the game," Patil said in a message. She said in setting a new benchmark for the highest score by a batsman in one-day internationals as well as in notching up a double century, "the master batsman has set stiff targets" for future generation of cricketers to break.
Terming it a "magnificent achievement", the Prime Minister said that Sachin has led by "example and that all Indians are proud of his achievement". Singh wished him many more glorious years in his cricketing career.
36-year-old Tendulkar today created history by becoming the first cricketer to score a double century in one-day internationals with a breath-taking unbeaten 200 to steer India to a massive 401 for three against South Africa in the second cricket ODI in Gwalior.
Tendulkar a role model for world cricket: Pak players
Karachi: Former and present Pakistani players on Wednesday paid rich tribute to Sachin Tendulkar for becoming the first batsman in the history of the game to score a double hundred in one-dayers and said he is the perfect "role model" for any cricketer.
"For any cricketer he is the perfect role model. The great thing about him is that he has been outstanding in both Tests and ODIs. As a Pakistani player, I know how much value we have always put on his wicket," right-handed batsman Shoaib Malik said about the batting maestro.
Former skipper and wicketkeeper Rashid Latif said the feat was no surprise to him as it was only a matter of time for Tendulkar to achieve it.
"I always expected him to be the first one to score 200 in ODIs, but I was surprised that he took so long," Latif said.
Another former captain Aamir Sohail said, "The rule is simple when you give respect to the game, then only the game will give you respect."
Batting great Javed Miandad said he had always asked Pakistani cricketers to admire Tendulkar for his down to earth attitude, hard work and passion.
"Records are there to be broken but it makes you happy when someone like Tendulkar does it. I think he thoroughly deserves this record and many more in days to come," he said.
J&K: Militant emerges alive from debris, kills jawan before being shot dead
SRINAGAR: A militant, believed to have been killed in the gunbattle at Chinkipora in Sopore, emerged alive from the debris on Wednesday and began firing on security personnel searching for the bodies of slain ultras, killing a jawan but was shot dead in retaliatory fire.
The militant, who is yet to be identified, was killed as the security forces fired back after he began firing indiscriminately injuring a jawan who later died at a hospital, official sources said.
Earlier, body of a militant was recovered from the rubbles of three houses that were destroyed in the gunbattle yesterday.
"Body of an unidentified militant and a weapon was recovered from the debris of the houses earlier today", police sources said.
Terming the heap of rubble at the the scene of the encounter as huge, they said it may take days even for the machines to remove it.
The operation to retrieve the bodies of the militants, who were said to have been killed in the day-long gunbattle yesterday, resumed this morning.
Three armymen, including a captain, were killed in the gunbattle with the militants hiding in three houses at Chinkipora, 55 kms from here, yesterday.
The deceased ary personnel were identified as Captain Davinder Singh Jass, Naik Selva Kumar and Paratrooper Imtiyaz Ahmad Thokar of first Para.
Besides, a civilian identified as Ramiaz Ahmad Malla, who was hit by a stray bullet while being evacuated from the scene, is being treated at a hospital in Srinagar.
Concessions for passengers in Mamata's rail budget
NEW DELHI: The Railway Budget for 2010-11 on Wednesday proposed no increase in passenger fares and freight rates while reducing the tariff by Rs 100 per wagon in transportation of foodgrains, kerosene and fertilisers to tackle the price rise.
The budget, presented by Railway Minister Mamata Banerjee in the Lok Sabha, also proposed to reduce the maximum limit of service charge on e-booking of tickets to Rs 10 for sleeper class and Rs 20 for AC class. The present maximum charge is Rs 15 and Rs 40 respectively.
This is the seventh year in a row that passenger fares have not been raised.
Announcing a slew of concessions for passengers, Banerjee proposed free travel for cancer patients going for treatment in three-tier AC and sleeper class and continuance of concessions for students of madrassas and journalists.
The minister said 101 new suburban services will be introduced in Mumbai and more services will be launched in Kolkata and Chennai.
A special train 'Sanskriti Express' to mark the 150th birth anniversary of Rabindranath Tagore will run across the country and also to Bangladesh.
Special tourist trains called 'Bharat Teerth' will be started on 16 routes while six long-distance non-stop Duronto Express and four short-distance Duronto day trains will be introduced, the railway minister said.
Referring to hardships faced by people because of the high food prices, Banerjee said, "I understand their distress. Despite Railways' own tight resource position I announce reduction of Rs 100 per wagon in freight charges for foodgrains for domestic use and kerosene. This is a small gesture to express our concern."
While ladies special trains would be renamed 'Matribhoomi Specials', three unreserved trains named 'Karambhoomi specials' would be introduced along with new weekly express service 'Janmabhoomi Express' between Ahmedabad and Udhampur.
New services to be introduced include 54 trains, 28 new passenger services, nine MEMU and eight DEMU services. The routes of 21 trains will be extended and the frequency of 12 trains increased.
Other new projects include preliminary engineering-cum- traffic survey for north-south, east-west, east-south and south-south dedicated freight corridors.
Six high-speed passenger train corridors have been identified to be executed through public-private partnership mode and a national high-speed rail authority will be set up for planning, implementing and monitoring these projects.
The financial performance in 2009-10 shows that the loading target of 882 million tonnes is likely to be surpassed by eight million tonnes.
Gross traffic receipts for 2009-10 have been kept at Rs 88,356 crore -- an increase of 10.7 per cent. The full impact of sixth pay commission has been fully absorbed within the railway resources and the current dividend liability will be fully discharged. Annual plan has been kept at Rs 40,284 crore, Banerjee said.
Earlier, Mamata started her speech in the Lok Sabha saying, "Our objective is inclusive growth," adding that her main consideration in this year's budget was social responsibility rather than mere commercial viability of projects.
"We have set our goals in the Vision 2020 document and we will achieve it," the minister said, referring to the document unveiled in December that has targeted making over 30,000 km of routes into double or multiple lines against 18,000 km today.
"It is a fact that administrative and procedural delays discourage potential investors. We will need to overcome this. I am setting up a special task force for this," she said.
"Special structure will be created for the new business model," she said. "But we will not privatise our railways. Indian Railways will remain with the government."
At the same time, she also asked the private sector to refrain from what she called "typical negative approach" while dealing with the Indian Railways. "I am sorry to say this, this mindset has to change."
Prime Minister Manmohan Singh, United Progressive Alliance (UPA) chairperson Sonia Gandhi, Leader of Opposition Sushma Swaraj and finance minister Pranab Mukherjee were among those in the house, presided over by Speaker Meira Kumar.
This was Banerjee's fourth budget of her career as railway minister and the second for the United Progressive Alliance (UPA) government in its second straight term after being voted back to office in May last year.
According to Banerjee, 117 out of the 120 new trains promised in her last budget will be flagged off by March 31, within a matter of seven months, which was a commendable effort.
Seeking to give safety issues due consideration, the minister said there were a few cases of unfortunate accidents in the past and said these would be prevented by adopting the highest level of technology and manpower training.
"Within five years, we will have 13,000 out of unmanned level crossings manned - 3,000 this fiscal and 1,000 in the coming fiscal," she said, referring to the high number of accidents at such crossroads.
The budget came against the backdrop of the share of Indian Railways in the movement of goods, vis a vis truckers, falling from 24.07 percent in 2001-02 to 20.89 percent in 2008-09 and further to 19.32 percent in the first 10 months of this fiscal.
Indian Railways runs the world's second largest network under a single management with a network of 64,099 route km to ferry 18.9 million passengers on 7,000 trains daily from 6,906 stations. It also runs 4,000 freight trains to carry 850 million tonnes of cargo.
Business News
New Delhi: Indian Railways will earn a profit of Rs 951 crore in 2009-10, down 93 per cent from the 2007-08 level.
While the 2009-10 Railway Budget presented in July last year projected profits at Rs 2,642.26 crore, the estimate has been revised downwards by 64 per cent to Rs 951.03 crore.
For the next fiscal, the budget estimates a profit of Rs 3,173.09 crore.
India's largest employer that employs 14 lakh people had registered a record profit of Rs 13,431.09 crore in 2007-08.
From FY'08 to FY'10, the fall in profit is 93 per cent, as per the Railway Budget presented in Parliament on Wednesday.
Profits had started showing a decline even in 2008-09, when it come down to Rs 4,456.78 crore. Year-over-year the fall in profit is about 79 per cent.
Gross traffic receipts have consistently risen since fiscal 1951-52, the year from which the statement showed financial figures for the Indian Railways.
The revised estimates puts gross traffic receipts at Rs 88,355.91 crore for 2009-10, and the budgetary estimate for the next fiscal's gross traffic receipts is Rs 94,764.95 crore, the Railway Budget paper said.
India Inc pleased with rail budget
New Delhi: India Inc welcomed the Railway Budget for sparing freight and passenger fares from any hike and said that it also provided opportunities for private sector to participate in the world's fifth largest transport network.
"I think it provides for much bigger involvement of the private sector...it is welcome," FICCI President Harsh Pati Singhania said.
Assocham described it as "people and industry friendly" since there is no increase in passenger and freight rates.
Presenting the Railway Budget for 2010-11, Railway Minister Mamata Banerjee asked business houses to build partnerships with Railways that employs about 14 lakh people.
A special task force will be set up for early clearance of projects, Banerjee said, adding that Railways will start six water bottling plants in places like Ambala, Farakka, Nasik, Thiruvananthapuram and Amethi to provide clean and cheap drinking water to passengers.
Railways would also develop 10 automobile hubs, she said.
CII Director General Chandrajit Banerjee said: "It is our belief that this would give the right signals to investors in India and abroad to look at Indian Railways in a new light."
However, Assocham President Swati Piramal said: "A clear roadmap for seeking private partnership in railways for it's modernisation and expansion should have been rolled out."
Federation of Indian Mineral Industry Secretary General R K Sharma too termed the Budget as "positive".
Mamata woos corporates, rules out privatisation
New Delhi: Railway Minister Mamata Banerjee on Wednesday presented the Railway Budget 2010-11 in the Parliament, saying that her ministry has come out with ''Vision 2020'' to modernise the railway network.
"I prefer social responsibility to economic responsibility, she said.
Banerjee said, the railways need to catch up with the advanced western nations, adding that the policy guidelines would be made easier and hassle-free.
Railways will not be privatized, she said, adding that in the next five years the whole country would be connected by rail.
Banerjee called on the India Inc to build partnership with the Railways.
The minister announced that the exams for the recruitment in Railway would be conducted in the regional languages as well, adding that English, Hindi, Urdu and other regional languages will be used for Railway entrance exams.
Banerjee said that we have kept our earlier promises and out of 120 trains that were proposed by our ministry, 107 trains were started on time.
She announced that six-bottling points would be set for manufacture of water that will be supplied, adding that the food that is provided to the passengers has also improved over the years.
Village panchayats, hospitals and court would have a e-ticket counter proposed Banerjee, adding that a railway counter would also be set up at the office of the District Magistrate.
Railway is all determined to ensure safety measures, she claimed adding that a ''chowkidaar'' would be placed at every railway crossing in the next five years.
Indian Railways to introduce double-decker trains
New Delhi: Railway Minister Mamata Banerjee on Wednesday announced that the Indian Railway would introduce double-decker train-sets as a pilot project.
Presenting the Railway Budget for the year 2010-2011 in the parliament here, Banerjee said: “Double-decker train-sets matching the best in global standards will be introduced in two trains each from Delhi and Kolkata as a pilot project.”
Declaring that passenger amenities are a very high priority of the Government, she said that a number of initiatives are being taken for this purpose. “Modern trolleys at all important stations with uniformed attendants will be introduced to assist senior citizens and women passengers for carrying their luggage,” Banerjee said.
The Railway Budget also proposed to initiate SMS updates of reservation status and movements of wagons to freight customers. Mobile vans for issuing e-tickets will be extended to government medical college hospitals, court complexes, University campus, IT hubs, IITs and IIMs.
Banerjee also announced that railway reservation ticket centres would also be opened at district headquarters and village panchayats to give more facility to common man.
In order to bring more transparency in freight business, Banerjee announced RFID technology will be introduced for tracking of wagons, allotment of the rakes would be accessible through the web.
Highlighting efforts being made for safety and security of the passenger, Banerjee said the railway is developing crashworthy coaches and locomotives and will provide automatic fire and smoke detection system in 20 pairs of long-distance trains as pilot project.
She announced that manning of further 1,000 level crossing will be taken up during the budget year and added that in coming five years, all the unmanned level crossing will be manned. To assure full security to women passengers, Banerjee announced that formation of 12 companies of women Railway Protection Force (RPF), named “Mahila Vahini.”
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