Sunday, October 3, 2010

For Whom India shines?BJP demand SC Judge-headed Commission on Kashmir turmoil!Biggest Commonwealth Games kicks off in Delhi!Fresh moves appear to be afoot to resolve the Ayodhya dispute out of court, three days after the Allahabad High Court verdict

For Whom India shines?BJP demand SC Judge-headed Commission on Kashmir turmoil!Biggest Commonwealth Games kicks off in Delhi!Fresh moves appear to be afoot to resolve the Ayodhya dispute out of court, three days after the Allahabad High Court verdict in the case.Gandhiji's dream of 'Ramrajya' a long way from being realized!

CWG 2010 will result in economic impact of $4,940 million!Delhi shuts down ahead of CWG opening ceremony!Rahul most preferred face for CWG brand ambassador: Survey

Indian Holocaust My Father`s Life and Time - Four Hundred  Ninety NINE

Palash Biswas

http://indianholocaustmyfatherslifeandtime.blogspot.com/

Prince Charles declared the 19th Commonwealth Games open at the Jawaharlal Nehru Stadium here Sunday.

'I send my best wishes which I am sure will be an experience of a lifetime. Madam President and distinguished guests, I declare the 19th Commonwealth Games open,' he said.

Welcome to India, says PM

Prime Minister Manmohan Singh said Sunday that hosting the Commonwealth Games was 'a proud moment' as he welcomed foreign guests and athletes to the gala event.

'Welcome to India! Welcome to these Games! The people of India are delighted to host the Commonwealth Games in this historic city. It is is a proud moment for all of them,' he said.

Political mobilisation of Hindutva forces is complete to push forward the agenda of economic Ethnic Cleansing. The Ayodhya dispute is Manipulated to elevate the Crown Prince Rahul Gandhi to the expected status of the new Indian Prime Minister. Mayawati has No Objection. RSS seems to be quite in Compliance as the Global Zionist Hindutva Free market Corporate Hegemony favours the Government of LPG India Incs! The so called secular forces led by a set of Fools posing Socialists, Ambedkarites and the Most Elite the Brahmin Marxists do help the cause of the sustenance of the Manusmriti rule Post Modern. It is all about Political Power and Wealth and the story related to Faith rooted in Myths is the same  as the Commonwealth Common Corruption! The God is always CHILD who must have friends and guardians  for his survival. With the Ayodhya verdict, the Crime of demolition of Babri Mosque has converted into a REWARD for those who are indulged in intense IN FIGHT  for the Wealth would be pouring in. Congress has the backing of Brahmins, Shankaracharyas, Media, india Incs and MNCs, US Corporate Imperialism,Global Hindutva Zionsim Combined led by ILLUMINITI and Israel. Now the situation is a tough Bargain to make both Ram Mandir and the Mosque for the Muslims.

Let me suggest to SCRAP all the Properties of the God irrelevant of Faith and Religion! Bring back the Billions of Dollars rotting and burning in Swiss Bank accounts and in the Middle East, believe me the Poverty and Starvation would stand No Where!

Who is paying for the SIX Billion Dollar Commonwealth Common Games?

Who have got the job?

Who have been earning the salary in lacs per Month?

Who benefitted most from the beautification and reconstructed INFRASTRUCTURE in New Delhi at the cost of whom?

Just see beyond the Extra vagenza!

TODAY - 03 October, 2010

CWG to hit India's GDP

The CWG will result in a $4,940 mn economic impact on India's GDP, three times that of the Melbourne Games on Australia. More

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Fresh moves afoot for out-of-court settlement of Ayodhya issue

Times of India - ‎5 hours ago‎
AYODHYA: Fresh moves appear to be afoot to resolve the Ayodhya dispute out of court, three days after the Allahabad High Court verdict in the case. Mohammad Hashim Ansari, one of the main litigants in the title suits, on Sunday met Mahant Gyan Das of ...

Babri litigants meet to settle case out-of-court

Oneindia - ‎7 hours ago‎
Ayodhya, Oct 3: After the historical Ayodhya verdict by Allahabad High Court, meetings for 'out-of-court compromise' started in Ayodhya. On Sunday, Oct 3 litigants in the Babri title dispute met to discuss the situations and possibilities of compromise ...

Key litigants on Ayodhya title suit dispute meet

IBNLive.com - ‎6 hours ago‎
New Delhi: Three days after the Allahabad High Court verdict on the Ram Janmbhoomi-Babri Masjid title suit dispute, one of the key litigants in the Ayodhya issue, Nirmohi Akhara's Mahant Gyan Das and Mohammad Hashim Ansari met in Ayodhya on Sunday. ...
All 3 related articles »

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Nirmohi Akhara
Allahabad High Court
Gyan Das
Ayodhya issue
Babri Mosque
Ram Janmabhoomi


However,the wait is finally over. The biggest Commonwealth Games so far was inaugurated by Prince Charles and President Pratibha Patil at the Jawaharlal Nehru Stadium in Delhi.Meanwhile,Fresh moves appear to be afoot to resolve the Ayodhya dispute out of court, three days after the Allahabad High Court verdict in the case.We have just celebrated yet another birth anniversary of the Father of the Nation Mahatma Gandhi. Mahatma had a vision for free India, which was to give the nation a people-friendly governance—'Ramrajya'.

BJP veteran L K Advani today said the Allahabad High Court verdict in the Ayodhya title suit was "faith upheld by law" and that it has paved the way for reconciliation with judicial ratification. In his blog, Advani said he was "extremely happy" to note that after the landmark judgement, the nation had "arrived at a fortuitous point" where "judicial verdict" and "amicable solution" could be blended well.On the other hand, BJP demand SC Judge-headed Commission on Kashmir turmoil!

The BJP in Jammu and Kashmir today demanded setting up of a Commission headed by a Supreme Court Judge "to enquire into and pin-point the responsibility" for the current turmoil in the Kashmir Valley. It also demanded ouster of ruling NC-led coalition charging that the state government failed to control the situation and provide security to life and property of civilians.

"We are demanding appointment of the Commission to enquire and pin point the responsibility for the current over three-month long turmoil in the Valley. We also want removal of the present coalition which failed to check secessionist and anti-national activities," state party leader Chaman Lal Gupta told reporters.

2010 is expected to result in an overall economic impact of $4,940 million on India's GDP during a period of four years ending 2012 and create an employment opportunity close to 24.7 lakh.

According to a Games Organising Committee document, this figure is almost three times the economic impact the 2006 Melbourne Games had on Australian GDP.

"It is estimated that the Commonwealth Games 2010 would result in an overall economic impact of approximately $4,940 million on over the period of 2008-12," the document said.

It said the 2002 Manchester Games created an impact of nearly $3,4000 million in Britain's, while the Melbourne Games created an impact of $1,600 million on Australia's GDP.

The OC estimates said the Delhi Games are also expected to create an "enormous employment opportunity" of close to 24.7 lakh jobs.

"The social and environmental impact of the Games will be highly laudable as they are bound to encourage improved standards of education to children, boost sports activities, create a better quality of life and experience for citizens, increase international recognition and create environmental consciousness among the community," it said.

However, an NGO Hazard Centre claimed that Delhiites will have to pay a huge price for the "development work" carried out for Commonwealth Games and "in the next 25 to 30 years, each one of them will have to pay a debt in form of increased prices of land, basic commodities and petrol."

The report titled 'Heritage Games' claimed that countries which hosted events like Olympics, World Cup and Commonwealth Games have plunged into huge debts after suffering losses.

It attributed the economic crisis in Greece to its 16,600 million dollar "adventure" of Athens Olympics four years ago. Mexico, Seoul, Barcelona, Sydney were cities that have followed suit and have incurred losses of many millions of dollars, it claimed.

The Games Organising Committee had earlier set up a Commonwealth Business Club India (CBCI) in partnership with Federation of Indian Chambers of Commerce and Industry (FICCI) to encourage and support Indian business community's involvement in the marketing and promotion of Indian sports.

"Its aim was to raise sports sponsorship and market India as a preferred business partner and destination across the Commonwealth," the document said.

The CBCI, headed by OC Chairman , also aims to draw high-powered offshore business delegations to Idnia during the Games and enable them to leverage the unfolding opportunity of transacting business.

Referring to his autobiography ''My Country, My Life'' released in 2008, the BJP leader, considered an icon of the Ram temple movement, said he had favoured three options -- legislation, judicial verdict and dialogue -- for Ayodhya dispute resolution. "I feel extremely happy to say today that after the landmark judgement delivered by the Allahabad High Court two days back, the country has arrived at a fortuitous point, where Option 2 and 3 identified above can well be blended.

"As both the RSS as well as the BJP have emphasised, this judgement has given judicial recognition to the fact that millions in the country do believe that the makeshift temple where Ram Lala is presently installed is Ram Janma Bhoomi -- the birthplace of Rama. The situation no longer is ''Faith versus Law'', it is ''Faith upheld by Law''," he said.

Advani, who became the best known face of the Ram temple movement after his 1990 rathyatra from Somnath in Gujarat to Ayodhya that was stopped midway in Bihar by RJD chief Lalu Prasad, said his autobiography had recorded that a solution to the dispute was imminent during former BJP Prime Minister Atal Bihari Vajpayee''s rule. Quoting from the pages of the book, the veteran BJP leader said it had been his endeavour through the six years of NDA rule under Vajpayee to look at "speedily and peacefully" resolving the temple dispute.

Recalling the efforts of the post-Independence Jawaharlal Nehru cabinet in reconstruction of the Somnath temple that was demolished by "Muslim invaders", Advani said it was the same spirit in which the BJP had wanted the construction of the Ram temple in Ayodhya. The BJP leader quoted from communication between Nehru, his Home Minister Sardar Vallabhbhai Patel and the Somnath Temple Construction Advisory Committee chairman Dr K M Munshi and stated that the spirit behind Ram temple construction was upholding of India''s cultural and spiritual past, without which the nation had no present or future.

Rahul most preferred face for CWG brand ambassador: Survey

He is considered to be the prime minister-in-waiting by many, but a recent survey among students has shown that is also the face India would like to see as the for the Commonwealth Games.

A whopping 72 per cent of those surveyed said they wanted the Gandhi scion to be the brand ambassador for the CWG.

The survey was conducted by the for of India (ASSOCHAM) among 10,000 students in Delhi, Mumbai, Bangalore, Dehradun, Jaipur, Chennai, Ahmedabad, Chandigarh, Kolkata and Bhubaneswar.

It revealed that Sachin Tendulkar (64 per cent) is the second choice of the nation for face of the 2010, followed by Amir Khan (56 per cent) and A R Rahman (42 per cent).

The major options among the different categories included politicians, Bollywood stars, sportspersons and other public icons, who majorly influence the common man.

72 per cent of the respondents said Gandhi was the most honest, straightforward and trustworthy youth leader.

The respondents said that the young leader has instilled confidence in the youth and he is the motivational factor who can set standards for them.

Sachin Pilot, Minister of State for Communications and Infotech got 14 per cent, while Jyotiraditya Scindia, Minister of State for Commerce and Industry and Congress MP Jitin Prasada got six per cent votes each as the face of the Games.

Among the sportspersons, iconic batsman Sachin Tendulkar (64 per cent) tops the list followed by Saina Nehwal (20 per cent), Viswanathan Anand (18 per cent) and Abhinav Bindra (six per cent).

The survey also highlighted the face for Commonwealth Games 2010 among the film industry. Actor Amir Khan -- the perfectionist -- came out on top with 56 per cent of the respondents voting for him as the first choice.

Actress Aishwarya Rai Bachchan with 18 per cent, Shahrukh Khan with 12 per cent and Ranbir Kapoor with six per cent followed in the list.

Other public figures included A R Rahman (42 per cent), Chetan Bhagat and singer Shaan.

The survey also highlighted the city which had the highest potential to organise the Commonwealth Games 2010 in India. Bangalore with 75 per cent first choice vote emerged as the most preferred city to organise the Games.

It was also felt that the involvement of Indian business houses jointly with the Games organisers would have made a difference. Sixty per cent of respondents voted for Tata followed by Reliance (18 per cent), Jindal Group (15 per cent) and DLF group (seven per cent).

30 Sep, 2010, 06.33AM IST, Mythili Bhusnurmath,ET Bureau
For whom is India shining?

This is one debate on which jury is still out, and is likely to remain so till kingdom come. It is about public versus private sector salaries. It's the private sector guys who take cash home in busloads, allege bureaucrats and
public sector-wallahs! Not a chance, say their private sector counterparts: we don't get free housing in the best parts of the town, unlimited medical reimbursement, jobs for life and, best of all, pension, often for many more years than spent in service!
The debate has now been joined by the International Monetary Fund (IMF). A recent technical note argues that accurate comparisons must take into account all aspects of compensation, including in-kind and non-monetary benefits and deferred compensation — e.g., pension or disability and survivor benefits — and greater job security.

If these non-monetary benefits are extensive, say the authors, the government does not necessarily need to offer salaries that are on a par with the private sector to retain high-quality employees. Studies suggest that differentials are negligible in Indonesia, France and the UK, but are large and favour public sector employees in India.

They suggest that a range of indicators, rather than a single benchmark, should be used for analysing compensation and employment in government.

Comparing government compensation as a share of GDP and as a share of total government spending with other countries at a similar level of development is a good way to start. The paper concludes that there are definite patterns. Thus, as a share of GDP, general government compensation of employees is highest in Europe (10% of GDP) and lowest in Asia and the Pacific (6.5%).

Government compensation of employees as a share of domestic revenues gives a fair indication of the sustainability of wage outlays, but in computing such compensation, the paper argues that non-monetary benefits such as travel, housing and other allowances should be included to make a fair comparison. At about 16% of total expenditure and 30% of total revenue, without monetisation of other benefits, India's for central is among the highest, according to Budget estimates for 2010-11 (see accompanying table).

High-quality reforms of public sector employment and wages are difficult to implement in a short period of time. However, in periods of severe fiscal pressure, governments may still need to resort to short-term measures to contain employee compensation that could be replaced over time with more sustainable reforms.

What are the short-term options? These include a temporary freeze on wages. This should result in a reduction in the compensation of employees, relative to GDP, as the economy expands in nominal terms.

Natural attrition, when combined with a hiring freeze in select non-priority areas, can help reduce the compensation of employees. Temporary layoffs are another option, as is accelerated early retirement. The authors caution that this option should be assessed carefully, as overly generous retirement packages can result in high fiscal burden in future. In the short term, the savings from these options may be very modest if there is a need for upfront payment of severance benefits.

Over the medium term, rationalising the size and structure of the government is vital. Linking pay increases to performance provides incentive to workers for improving efficiency and productivity.
http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Delhi-shuts-down-ahead-of-CWG-opening-ceremony/articleshow/6671924.cms

Spotlight : Common Wealth Games 2010

The 2010 Common wealth Games will be the nineteenth Commonwealth Games, and the ninth to be held under that name. The Games are scheduled to be held in New Delhi, India between 3 October and 14 October 2010. The games will be the largest multi-sport event conducted to date in Delhi and India, which has previously hosted the Asian Games in 1951 and 1982. The opening ceremony is scheduled to take place at the Jawaharlal Nehru Stadium, the main stadium, in Delhi. It will also be the first time the Commonwealth Games is held in India and the second time the event has been held in Asia (after 1998 in Kuala Lumpur, Malaysia).

Proud moment for India to host CWG: Prime Minister

PTI - 09:15 PM
New Delhi, Oct 3 (PTI) Prime Minister Manmohan Singh today said it was indeed a proud moment for India to host the 19th edition of Commonwealth Games in the historic city of New Delhi. More »

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Finding grounds for appeal, Board takes hard look at all 3 rulings on Ayodhya suits

To establish the validity of its claim and not let "faith" take over "facts", the Sunni Central Board of Waqfs is taking a hard look at the three separate rulings in the verdict of the Allahabad High Court on the title suits over the disputed Ram Janmabhoomi-Babri Masjid site in Ayodhya.
Zafaryab Jilani, Lucknow-based lawyer and the face of the Waqf Board case, said: "Aspects found in all three judgments will be appealed against. We are still finalising the aspects we want to challenge."
The most important is the dismissal of the case of the Waqf Board and the Nirmohi Akhara to two portions of the site, described as the Inner Courtyard (housing the Masjid) and Outer Courtyard (where the Ram Chabutra was located) from the 19th Century. There is a view that the law of the land - possessory law - entitles to land title those who have uninterrupted and unchallenged possession of an area for twelve years.
Those who back the Board claim point out that the Masjid was at the spot uninterrupted, from 1528 until 1949 (when the namaz was last read there), so its case cannot be denied. The same goes for the Nirmohi Akhara - puja, bhajan-kirtan just outside the three domes went on uninterrupted for more than twelve years, strengthening its claim to that portion.
There is a view that declaring the land beneath the central dome of the Babri Masjid as the exact spot where Lord Ram was born is also something that should not have been ruled on simply on the basis of "belief" and ought to have been left as "incapable of legal determination". That it cannot be adjudicated upon was something which a five-judge bench of the Supreme Court had held in 1994 while refusing to answer the Presidential Reference sent to it after the demolition of the Babri Masjid.
According to Zafaryab Jilani, the ASI report does not at any point say that a temple "was destroyed" to build a mosque in the 16th Century. This, Jilani says, "therefore cannot be used as a fact to establish that the Babri Masjid was built after demolishing a temple". This would be one of the points for appeal by the Board. Before this 2002 report, there were at least four topographical reports on Ayodhya by the ASI.
Another point for appeal would be the disqualification of the Waqf Board claim to the central dome. It would be pointed out that all three judges accepted that the idols were placed under the central dome on December 22/23 1949, were cognizant of the FIR filed in the matter, subsequent action (under Section 145) that put the place under lock and the title claim filed by the Waqf Board before the expiry of the 12-year period.
While Hindu law recognises a consecrated idol's rights as a juristic person, a minor in perpetuity, the rights were challenged within hours of the idols being placed. This is being seen by the Board as a legal infirmity in the present judgment.

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    नवभारत टाइम्स - ‎३०-०९-२०१०‎
    लखनऊ।। इलाहाबाद हाईकोर्ट की लखनऊ बेंच ने अयोध्या विवाद में ऐतिहासिक फैसला देते हुए विवादित जमीन से रामलला की प्रतिम नहीं हटेगी। इसके साथ ही कोर्ट ने जमीन को तीन हिस्सों में सुन्नी वक्फ बोर्ड, निर्मोही अखाड़ा और राम लला पक्ष को बराबर बांटने के निर्देश दिए। इलाहाबाद हाई कोर्ट की लखनऊ बेंच की जस्टिस डी. वी. शर्मा, जस्टिस एस. यू. खान और जस्टिस सुधीर अग्रवाल की बेंच ने बहुमत से दिए गए फैसले में एक हिस्सा (जहां राम लला की प्रतिमा ...

    तीन हिस्सों में बंटेगी विवादित जमीन

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    इलाहाबाद हाई कोर्ट की लखनऊ बेंच ने बहुमत के आधार पर अयोध्या का फैसला सुना दिया है. बेंच के तीनों जजों ने अलग अलग फैसला सुनाया. अदालत ने विवादित जमीन को तीन हिस्सों में बांटने का आदेश दिया है. इस बेंच में जस्टिस डीवी शर्मा, जस्टिस एसयू खान और जस्टिस सुधीर अग्रवाल शामिल हैं. 60 साल पुराने इस मामले पर फैसला देते हुए जस्टिस सुधीर अग्रवाल और जस्टिस एसयू खान ने कहा कि जिस जगह इस वक्त राम मंदिर मौजूद है, वह जगह हिंदुओं की है. ...

    अयोध्या फैसला: मेल टुडे के संपादक भरत भूषण की राय

    आज तक - ‎३०-०९-२०१०‎
    ऐसा लगता है कि अयोध्या मामले का फैसला आस्था और विश्वास को ध्यान में रखकर किया गया है. लोगों की आस्था के आधार पर अदालत ने विवादित स्थल को भगवान राम की जन्मभूमि घोषित किया है. इस फैसले से एक जो सबसे अच्छी बात हुई वो यह है कि ऐसे सभी तत्वों को जो समय समय पर इस मुद्दे को लेकर सांप्रदायिक उन्माद भड़काते रहे हैं उन्हें इस फैसले से कोई मौका नहीं मिलेगा. साथ ही इस फैसले के बाद इस मुद्दे का कोई राजनीतिक फायदा भी नहीं उठा सकेगा. ...

    फैसले पर सुन्नी वक्फ बोर्ड सुप्रीम कोर्ट जाएगा

    हिन्दुस्तान दैनिक - ‎३०-०९-२०१०‎
    अयोध्या विवाद के एक पक्षकार सुन्नी सेंट्रल वक्फ बोर्ड ने गुरुवार को कहा कि वह इस मामले में उच्च न्यायालय द्वारा सुनाए गए फैसले के खिलाफ उच्चतम न्यायालय में अपील करेगा। बोर्ड के अध्यक्ष जफरयाब जिलानी ने संवाददाताओं से कहा कि हमें विवादित स्थल पर मुसलमानों को एक तिहाई हिस्सा दिए जाने की बात कतई मंजूर नहीं है और हम इसके खिलाफ उच्चतम न्यायालय का दरवाजा खटखटाएंगे। उन्होंने कहा कि बोर्ड को अपील दाखिल करने की कोई जल्दी नहीं ...

    ऐतिहासिक अयोध्या फैसला: हो गए विवादित जमीन के 3 हिस्से

    That's Hindi - ‎३०-०९-२०१०‎
    लखनऊ| एक हफ्ते के धड़कनें रोकने वाले इंतजार के बाद आखिरकार अयोध्या विवाद पर फैसला आ ही गया। फैसले के मुताबिक, सुन्नी वक्फ बोर्ड का दावा लखनऊ बेंच ने 2:1 से खारिज कर दिया है। विवादित जमीन के 3 हिस्से किये गए हैं। जिसे तीनों पक्षकारों में अलग-अलग बांट दिया गया है। विवादित जमीन का केंद्रीय हिस्सा जहां मू्र्तियां रखीं थीं, उसे रामलला का जन्मस्थान मानते हुए पूजा के लिए दिया गया है। इस फैसले से पिछले 60 साल के विवाद के खत्म होने की ...

    अयोध्या विवाद: क्या अब भी हो सकता है समझौता?

    दैनिक भास्कर - ‎३०-०९-२०१०‎
    अयोध्या में विवादित ज़मीन को लेकर चल रहे स्वामित्व विवाद पर इलाहाबाद हाई कोर्ट की लखनऊ बेंच का निर्णय थोड़ी ही देर में आने वाला है। इससे पहले 28 सितंबर को हाई कोर्ट के निर्णय को टालने और समझौते की कोशिश करने को लेकर दायर याचिका सुप्रीम कोर्ट ने खारिज कर दी थी। पूरा देश 60 सालों से अदालतों में चल रहे इस मामले के फैसले का इंतजार कर रहा है। जाहिर फैसला किसी एक पक्ष के हक में तो दूसरे के खिलाफ होगा। ऐसे में सवाल उठता है कि क्या ...

    विवादित जमीन के होंगे तीन हिस्से

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    हाई कोर्ट ने अयोध्या विवाद में सुन्नी वक्फ बोर्ड का दावा खारिज कर दिया है. फैसला दिया है कि विवादित स्थल राम जन्मभूमि है. कोर्ट ने बाबरी मस्जिद एक्शन के मुकदमे को खारिज कर दिया है. विवादित जमीन के तीन हिस्से होंगे. तीनों जजों ने बहुमत से फैसला दिया है कि जहां पर रामलला विराजमान हैं, वही रामजन्म भूमि है, उन्हें वहां से हटाया नहीं जाएगा. पास की एक तिहाई जमीन निर्मोही अखाड़े को दी गई है, एक तिहाई जमीन का हिस्सा मुसलमानों को भी ...

    सुन्नी वक्फ बोर्ड की याचिका खारिज

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    अयोध्या मामले पर इलाहाबाद हाई कोर्ट की लखनऊ बेंच के तीनों जज अलग अलग फैसला देंगे. लखनऊ जिला मजिस्ट्रेट ने यह जानकारी दी है. उन्होंने कहा कि तीनों फैसलों की घोषणा के बारे में मीडिया को संक्षिप्त जानकारी दी जाएगी. लखनऊ जिला मजिस्ट्रेट अनिल कुमार सागर ने बताया कि फैसलों को अदालत की वेबसाइट पर भी लगाया जाएगा. उधर अयोध्या पर फैसला आज आ रहा है लेकिन यह टिकेगा नहीं. सुप्रीम कोर्ट जाने की तैयारी पूरी है और हो सकता है कि मामला आज ...

    अयोध्या फैसला: तीन हिस्सों में बंटेगी जमीन

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    भारतीय इतिहास के सबसे पुराने और चर्चित मामलों में से एक अयोध्या के बाबरी मस्जिद राम मंदिर विवाद पर अदालत ने अपना फैसला सुना दिया है. इलाहाबाद हाई कोर्ट की लखनऊ बेंच ने विवादित जमीन को तीन हिस्सों में बांटने का फैसला किया है. एक हिस्सा राम लला को दिया जाएगा. दूसरा हिस्सा निर्मोही अखाड़े को दिया जाएगा और तीसरे हिस्से पर वक्फ बोर्ड का अधिकार होगा. हालांकि कोर्ट ने तीन महीने तक यथास्थिति बनाए रखने का आदेश दिया है. ...

    अयोध्याः तीन हिस्सों में बंटेगी जमीन

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    अयोध्या में विवादित जमीन पर हाई कोर्ट का फैसला आया. जमीन को तीन हिस्सों में बांटा जाएगा. एक हिस्सा हिंदूओं को, जिसे राम का जन्मस्थान माना गया है. दूसरा हिस्सा सुन्नी वक्फ बोर्ड और तीसरा हिस्सा निर्मोही अखाड़े को मिलेगा. न्यायाधीश एसयू खान, न्यायाधीश सुधीर अग्रवाल और न्यायाधीश धर्मवीर शर्मा की खंडपीठ ने आज यह बहुप्रतीक्षित फैसला सुनाया. हिंदू पक्षकारों के वकील रवि शंकर प्रसाद ने अदालत के बाहर बताया कि सुन्नी वक्फ बोर्ड ...

    सुप्रीम कोर्ट जाएँगे: वक्फ़ बोर्ड

    बीबीसी हिन्दी - ‎३०-०९-२०१०‎
    उत्तर प्रदेश सुन्नी वक्फ़ बोर्ड ने कहा है कि वह इलाहाबाद हाईकोर्ट के फ़ैसले को सुप्रीम कोर्ट में चुनौती देगा. बोर्ड के ज़फ़रयाब जिलानी ने कहा, "हम विवादित भूमि को तीन हिस्सों में विभाजित किए जाने के हाईकोर्ट के फ़ैसले के ख़िलाफ़ अपील करेंगे." उनका कहना है कि यह फ़ैसला वक्फ़ बोर्ड को मंज़ूर नहीं है. उल्लेखनीय है कि गुरुवार को इलाहाबाद हाईकोर्ट के लखनऊ पीठ ने बहुमत से यह फ़ैसला दिया है जिस जगह पर राम की मूर्ति स्थापित है ...

    अयोध्याः सुप्रीम कोर्ट जाएगा मुस्लिम पक्ष

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    अयोध्या विवाद में मुस्लिम पक्षकारों के वकील का कहना है कि वे हाई कोर्ट के फैसले के खिलाफ अपील करेंगे. इलाहाबाद हाई कोर्ट की लखनऊ बेंच ने विवादित जमीन को तीन हिस्सों में बांटने का फैसला सुनाया है. मुस्लिम पक्षकारों के वकील जफरयाब जिलानी ने कहा कि अदालत का फैसला मामले में आगे की ओर एक कदम है, लेकिन वह इसके खिलाफ सुप्रीम कोर्ट में अपील करेंगे. न्यायाधीश एसयू खान, न्यायाधीश सुधीर अग्रवाल और न्यायाधीश धर्मवीर शर्मा की खंडपीठ ...

    अयोध्या पर फैसला: तीन पक्षों में बंटेगी अयोध्या की विवादित जमीन

    दैनिक भास्कर - ‎३०-०९-२०१०‎
    लखनऊ कोर्ट परिसर से. 60 साल बाद आज राम जन्मभूमि-बाबरी मस्जिद की विवादित जमीन के मालिकाना हक पर पहली बार किसी अदालत का फैसला आया। अदालत ने निर्मोही अखाड़ा, सुन्नी वक्फ बोर्ड और राम लला विराजमान, तीनों को विवादित जमीन का एक-तिहाई हिस्सा देने का फैसला दिया। फैसला सुनाए जाने के बाद अदालत परिसर से बाहर निकलने के बाद वकीलों ने यह जानकारी दी। आधिकारिक तौर पर फैसले के बारे में अब से थोड़ी देर बाद जानकारी दी जाएगी। ...

    दोनों पक्ष सुप्रीम कोर्ट जाएंगे

    डी-डब्लू वर्ल्ड - ‎३०-०९-२०१०‎
    अयोध्या विवाद पर हाई कोर्ट के फैसले के बाद इससे जु़ड़े सभी पक्षों ने सुप्रीम कोर्ट जाने का फैसला किया है. हालांकि उन्होंने कहा है कि वे अदालती फैसले का सम्मान करते हैं. विवादित स्थल को तीन हिस्सों में बांटने का फैसला. उत्तर प्रदेश की राजधानी लखनऊ में इलाहादबाद हाई कोर्ट की बेंच के फैसले के बाद हिंदू राम जन्मभूमि ट्रस्टके अध्यक्ष नित्य गोपाल दास महाराज ने कहा, "अदालत ने हिंदू आस्था का सम्मान किया है लेकिन फिर भी हम ...

    राम वहीं, पास में रहीम

    Patrika.com - ‎३०-०९-२०१०‎
    लखनऊ । इलाहाबाद हाईकोर्ट की लखनऊ पीठ ने गुरूवार को 60 साल पुराने मुकदमे के अपने बहुप्रतीक्षित फैसले में 2-1 के बहुमत से कहा कि अयोध्या में जहां रामलला की मूर्ति है, वह रामजन्म भूमि ही है अलबत्ता पीठ ने सर्वसम्मति से बीच वाले गुम्बद के नीचे रामलला की मूर्तियों के विराजमान स्थल को हिन्दुओं को देने का आदेश दिया। अदालत ने बहुमत से दिए फैसले में विवादित जमीन पर सुन्नी वक्फ बोर्ड के मालिकाना हक के दावे को खारिज कर दिया साथ ही कहा ...

    फैसले के मुख्य बिंदु

    IBN Khabar - ‎३०-०९-२०१०‎
    इलाहाबाद उच्च न्यायालय की लखनऊ पीठ ने राम जन्मभूमि-बाबरी मस्जिद विवाद पर गुरुवार को अपना फैसला सुना दिया। अदालत ने अपने फैसले में कहा है कि अयोध्या के विवादास्पद स्थल पर आज जहां रामलला विराजमान हैं, वही उनका जन्मस्थान है। अदालत ने इस मामले में सुन्नी वक्फ बोर्ड की ओर से दायर की गई याचिका खारिज कर दी है।

    हम सुप्रीम कोर्ट में जाएंगे: वक्फ बोर्ड

    Hindi- Economic times - ‎३०-०९-२०१०‎
    नई दिल्ली।। सुन्नी वक्फ बोर्ड के वकील जफरयाब जिलानी ने कहा है कि इलाहाबाद हाई कोर्ट का फैसला कुछ हमारे पक्ष में और कुछ हमारे खिलाफ है। हम इसके खिलाफ सुप्रीम कोर्ट में अपील करेंगे। जिलानी ने कहा कि यह न किसी पक्ष की हार है और न किसी पक्ष की जीत। यह अंतिम समाधान की दिशा में एक कदम है। मुस्लिम समुदाय को निराश होने की जरूरत नहीं है। हम सुप्रीम कोर्ट में जाएंगे।

    अयोध्या -सभी को साधने की कोशिश

    जनादेश - ‎३०-०९-२०१०‎
    लखनऊ । अयोध्या विवाद पर साठ साल बाद हुए फैसले ने आज सभी पक्षों को संतुष्ट करने का प्रयास किया है । इलाहाबाद हाईकोर्ट की लखनऊ खंडपीठ ने आज अयोध्या विवाद पर सुन्नी सेंट्रल वक्फ बोर्ड का मालिकाना हक़ का दावा खारिज करते हुए रामलला की पूजा जारी रखने का आदेश दिया । जस्टिस एसयू खान ,सुधीर अग्रवाल और जस्टिस डीवी शर्मा की खंडपीठ ने विवादित स्थल पर रामलला का दावा एकमत से माना पर अन्य मुद्दों पर भिन्न राय भी दी । अदालत ने विवादित ...

    Colour and spectacle as Commonwealth Games open

    Watched by millions across the globe, the 19th Commonwealth Games got off to a spectacular start here Sunday evening amid traditional Indian music, dance and a burst of colour at the Jawaharlal Nehru Stadium in the heart of the city.
    Britain's Prince Charles and his wife Camilla, Indian President Pratibha Patil and Prime Minister Manmohan Singh watched as 1,000 drummers stirred up a thumping beat, puppets danced in the air and thousands of children gathered at the packed stadium to sing a welcome to the world.
    After the Indian national anthem was sung, the opening act, 'Rhythm of India', set the mood for the much awaited sports event with electrifying energy.
    The 'shankh naad' (auspicious blowing of conch shells) and fireworks then lit the sky like dawn.
    A helium aerostat crowned the stadium and suspended puppets danced to life when drummers from across the country gathered in unison claiming that India has arrived.
    Celebrating the best of India, seven-year-old Keshava from Puducherry drummed up beats on his tabla, his fingers flying in rhythm and watched by a capacity crowd of 65,000 that had packed into the stadium to watch the Games begin.
    As the 'Rhythms of Life' came into life and the drummers filed out, Indian schoolchildren took centrestage and, led by well-known vocalist Hariharan, sang out 'Su Swagatam' to welcome the 6,700 athletes as well as officials and visitors to the city.
    The song reached a crescendo with a Sufiana qawwali, illustrating the charms of syncretic, secular India.
    They formed a 'namaste', the age-old Indian greeting with hands folded, in the vast field. A collective roar echoed in the stadium as the participants, in a rapid fluid movement, held aloft white sheets to splash red paint and show up intricate henna designs.
    All along the ceremony, the moving lights on the helium balloon continued to change their hues, projecting life size revolving images of the action on the ground.
    With the welcome over, it was the turn of the athletes parade.
    Dressed in the colours of their country, the athletes from 71 countries and territories filed past the appreciative crowd, waving and cheering.

    Colours of India come alive in CWG opening ceremony

    M R Mishra New Delhi, Oct 3 (PTI) India today put behind a nightmarish build-up of scandals, filth and dirt and missed deadlines to come up with a dazzling and vibrant opening ceremony for the Commonwealth Games--the country''s biggest sporting spectacle--watched live by a global audience of around three billion. Against the backdrop of an early October sun set, the spanking new Jawahar Lal Nehru Stadium turned into a golden hue as the Rs 44 crore aerostat lifted into the skies and a bevy of puppets danced and over 800 drummers heralded the event.
    A spectacular laser fireworks show lit up the evening sky and India took a giant leap, 28 years after it hosted the Asian Games. In a neat diplomatic compromise, Prince Charles, representing Queen Elizabeth, the head of the Commonwealth, and President Pratibha Patil did the honours at the inaugural ceremony, amid thunderous cheers from the capacity 60,000 crowd.
    "I have much pleasure in declaring the 19th Commonwealth Games open", the Prince said reading out a message from the British monarch. This was followed by the address of President Patil, who concluded by saying " the 2010 Commonwealth Games in Delhi are now open.
    Let the Games begin", signalling the formal commencement of the sporting extravaganza. Prime Minister Manmohan Singh, his cabinet colleagues, former President APJ Abdul Kalam, Congress President Sonia Gandhi, General Secretary Rahul Gandhi, Delhi Chief Minister Sheila Dikshit, Maldives President Mohammed Nashid, Prince of Monaco Albert II, Commonwealth Games Federation President Mike Fennell, Organising Committee Chairman Suresh Kalmadi and a host of dignitaries were present at the ceremony.
    It was a mix of both cheers and jeers for Kalmadi when he made his speech while references to Dikshit were received by loud cheers in the audience. .

    President, Prince Charles declare CWG open

    Times of India - ‎17 minutes ago‎
    NEW DELHI: The 19th Commonwealth Games was on Sunday jointly declared open by Prince Charles and President of India Pratibha Patil in a diplomatic compromise that was worked out much before the inauguration. Officially the Queen, the ceremonial head of ...

    Proud moment for India to host CWG: Prime Minister

    Hindustan Times - ‎30 minutes ago‎
    PTI Prime Minister Manmohan Singh on Sunday said it was indeed a proud moment for India to host the 19th edition of Commonwealth Games in the historic city of New Delhi. "Welcome to India, welcome to these Games. The people of India are delighted to ...

    President Patil declares the Commonwealth Games open

    NDTV.com - ‎21 minutes ago‎
    PTI, Updated: Sun, Oct 3, 2010 21:45 IST New Delhi: The 19th Commonwealth Games were jointly declared open by Prince Charles and President of India Pratibha Patil on Sunday at the Jawahar Lal Nehru stadium, the main venue for the Commonwealth Games. ...

    		...a spectacular opening ceremony, after the Queen's baton was handed over by Beijing Olympic bronze medallist wrestler Sushil Kumar to Charles, the Prince of Wales read out the Queen's message but it was President Patil who had the last word, saying, "Let the Games begin".
    more by Prince Charles - 17 minutes ago - Times of India (3 occurrences)



    Cheers, jeers for Kalmadi at CWG opening ceremony

    Times of India - ‎1 hour ago‎
    NEW DELHI: It was both cheers and jeers for Suresh Kalmadi, the chairman of the Organising Committee of the Commonwealth Games, when he made his speech while it was cheers all the way for Delhi Chief Minister Sheila Dikshit. Kalmadi, who has been under ...

    Colours of India come alive in CWG opening ceremony

    Hindustan Times - ‎45 minutes ago‎
    Watched by millions across the globe, the 19th Commonwealth Games got off to a spectacular start in New Delhi on Sunday evening amid traditional Indian music, dance and a burst of colour at the Jawaharlal Nehru Stadium in the heart of the city. ...

    Spectacular start for Commonwealth Games

    Telegraph.co.uk - Gordon Rayner, Dean Nelson - ‎18 minutes ago‎
    India produced a dazzling opening ceremony for the New Delhi Commonwealth Games as organisers defied prediction that the event might have to be called off and the chaos of preparations was left behind. By Gordon Rayner and Dean Nelson in New Delhi In ...

    High definition TV makes a splashy debut with opening ceremony

    Hindustan Times - ‎1 hour ago‎
    Just like the Asian Games introduced India to colour TV in 1982, the 2010 Commonwealth Games marked a turning point in Indian broadcast TV. Several viewers saw the fluttering flags and bright national costumes in high definition (HD), ...

    VVIPs flock to Jawaharlal Nehru Stadium to witness gala opening ceremony

    Daily News & Analysis - ‎1 hour ago‎
    Place: New Delhi | Agency: PTI Heads of state, royalty, who is who of world sport joined thousands and thousands of commoners at the dazzling inaugural ceremony of the biggest-ever Commonwealth Games at the Jawaharlal Nehru Stadium here. ...

    Games open in Delhi

    SkySports - ‎29 minutes ago‎
    The 19th Commonwealth Games opened in India on Sunday with a glittering ceremony organisers doubtless hoped would distract from the chaos which has plagued its build-up. Prince Charles officially declared open the 12-day, $6billion event in Delhi which ...

    CWG extravaganza unfolds

    The Hindu - ‎30 minutes ago‎
    Glimpses from the gala opening ceremony of 19th Commonwealth Games at Jawaharlal Nehru Stadium, New Delhi on October 3, 2010. Tendulkar was out two runs short of his 49th Test century before India was dismissed for 405 on day three of the first Test ...
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    Delhi
    Charles, Prince of Wales
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    India

    Timeline of articles

    Number of sources covering this story

    		Proud moment for India to host CWG: Prime Minister
    ‎30 minutes ago‎ - Hindustan Times

    		Special Opening ceremony stamp released
    ‎7 hours ago‎ - Times of India

    		Delhi under thick security cover ahead of CWG opening ceremony
    ‎11 hours ago‎ - The Hindu

    		Fortress Delhi gears up for the 2010 CWG
    ‎14 hours ago‎ - IBNLive.com

    		When the games began...
    ‎21 hours ago‎ - Times of India

    		Delhi finally puts everything in place for CWG 2010
    ‎Oct 2, 2010‎ - Hindustan Times

    		Commonwealth Games grows in stature as years go by
    ‎Oct 2, 2010‎ - Daily News & Analysis

    		CWG opening ceremony to showcase India's culture
    ‎Sep 30, 2010‎ - Times of India


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    CWG Opening ceremony begins with colour, music and a giant balloon
    NewsX  -  2 hours ago Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/CM1DXMWa1ws/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=CM1DXMWa1ws">CWG Opening ceremony begins with colour, music and a giant balloon</a> <span class="source">NewsX</span> &nbsp;-&nbsp; 2 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=CM1DXMWa1ws">Watch video</a></div>





    CWG opening ceremony today: Security blanket over Delhi
    NDTV.com  -  9 hours ago Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/gIuWXNCRtDk/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=gIuWXNCRtDk">CWG opening ceremony today: Security blanket over Delhi</a> <span class="source">NDTV.com</span> &nbsp;-&nbsp; 9 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=gIuWXNCRtDk">Watch video</a></div>





    We are ready for the Games: Sheila Dikshit to NDTV
    NDTV.com  -  9 hours ago Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/mv0nmB-ZSOE/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=mv0nmB-ZSOE">We are ready for the Games: Sheila Dikshit to NDTV</a> <span class="source">NDTV.com</span> &nbsp;-&nbsp; 9 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=mv0nmB-ZSOE">Watch video</a></div>





    Let the Games begin!
    NewsX  -  13 hours ago Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/i2vUDRBaP5Q/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=i2vUDRBaP5Q">Let the Games begin!</a> <span class="source">NewsX</span> &nbsp;-&nbsp; 13 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=i2vUDRBaP5Q">Watch video</a></div>





    Queen's Baton in final stage of run
    NewsX  -  Oct 2, 2010 Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/hEMTLdhcOWo/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=hEMTLdhcOWo">Queen's Baton in final stage of run</a> <span class="source">NewsX</span> &nbsp;-&nbsp; Oct 2, 2010 <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=hEMTLdhcOWo">Watch video</a></div>





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    Delhi shuts down ahead of CWG opening ceremony

    Delhi is witnessing a virtual shutdown ahead of the opening ceremony of as Saturday happens to be a national holiday owing to Mahatma Gandhi's birth anniversary while markets and shopping malls across the city have been ordered shut Sunday.

    As per a Delhi government order, all shops and commercial establishments, including neighbourhood grocery stores, liquor shops and malls, will remain closed Sunday to avoid congestion on the roads.

    The mega-sporting event kicks off in the capital Sunday with the opening ceremony to be held at the revamped Jawaharlal Nehru stadium. Some 7,000 athletes and officials from 71 countries and territories are expected for the Games, India's biggest sporting event since .

    Indian economy to grow by over 8.5 pc: Anant

    Chief statistician T C A Anant today said that the economy is likely to grow a little over the targeted 8.5 per cent this fiscal on the back of robust farm output and industrial production.

    "I am comfortable with 8.5 per cent, maybe a little more. I think it is on target," Anant said here.

    The Government has projected the economy to grow in the range of 8.5-8.75 per cent this fiscal.

    Recently, Finance Minister Pranab Mukherjee had exuded confidence that the economy would surpass the projections.

    "I am optimistic that at the end of this year we will be able to surpass our GDP growth forecast of 8.5-8.75 per cent given in the ," Mukherjee had said.

    Anant agreed with the Finance Minister's optimism. "At the moment, I think it is a perfectly good statement to make. The first quarter estimates of 8.8 per cent is comfortably consistent with the target," he said.

    The chief statistician said the expectation is that the monsoon would be good.

    "So, agriculture production would be above last year's. Also the industry production figures have been sound and are indicating that the second quarter number could well turn out to be good. So all of this put together, the optimism is well justified," he added.

    The Indian economy grew by 7.4 per cent in FY'10, while the farm sector registered a growth of 0.2 per cent.

    Further, industrial growth accelerated to 13.8 per cent in July from 7.2 per cent in the corresponding month last year, on the back robust capital goods production.

    Industrial growth for the first four months of this fiscal stood at 11.4 per cent from 4.7 per cent a year ago.

    Following the global financial crisis, the GDP growth had moderated to 6.7 per cent in 2008-09 after recording a growth rate of 9 per cent in the three preceding years.

    Fiscal deficit falls 17% to Rs 1.5 lakh cr during Apr-Aug

    The Centre's fiscal deficit fell by 16.93 per cent to Rs 1,51,425 crore during April-August, 2010, year-on-year, on increased revenues from the auction of 3G spectrum, or radio waves, for mobile telephony.

    The deficit represents 39.7 per cent of the estimate for the current financial year. The Budget for 2010-11 estimates the fiscal deficit, which represents excess government expenditure over its revenue, at Rs 3,81,408 crore.

    Towards the end of the first quarter this fiscal, the government had collected over Rs 1.06 lakh crore through the sale of spectrum for both 3G and Broadband Wireless Access (BWA) services against the Budget target of Rs 35,000 crore.

    In the first five months of 2010-11, non-tax revenue receipts were Rs 1,52,299 crore, crossing the full year target of Rs 1,48,118 crore, mainly due to robust response for spectrum sale.

    During the corresponding period last year, non-tax revenue receipts were at 35.9 per cent of the estimate.

    On the other hand, tax revenue receipts during April- August period reached 25.9 per cent of 2010-11 estimate at Rs 1,38,500 crore. The overall revenue receipts target is pegged at Rs 5,34,094 crore for the current fiscal.

    The total expenditure in the first five months of the current fiscal stood at Rs 4,47,703 crore, thereby reaching 40.4 per cent of the target for the full year.

    The plan expenditure during April-August period was at Rs 1,36,454 crore while non-plan expenditure stood at Rs 3,11,249 crore.

    The government's expenditure for the current fiscal is targeted at Rs 11,08,749 crore.

    The Centre's fiscal deficit targets went awry after it provided stimulus to the economy since December 2008 to blunt the impact of global financial crisis.

    Against the target of reducing the deficit to 3 per cent of GDP by 2008-09, as per the Fiscal Responsibility and Budget Management (FRBM) Act, the Centre saw it double to around 6.2 per cent that year.

    Last fiscal, the deficit crossed 6.5 per cent. After partial withdrawal of stimulus in the Budget for 2010-11, fiscal deficit is now pegged at lower 5.5 per cent of GDP in the current financial year.

    The Centre's revenue deficit in the first five months of the current fiscal stood at Rs 1,00,352 crore, representing 36.3 per cent of the target for the full fiscal.

    2 Oct, 2010, 12.58AM IST, Rishi Shah,ET Bureau
    GDP growth figure to rise on new-look WPI

    NEW DELHI: India's economic growth numbers for the fiscal first quarter could be re-stated to 9% due to recent changes to inflation calculations, giving a 'statistical boost' to the economy at a time when several independent forecasters are already raising their forecasts.

    The new series of wholesale price index (WPI) with 2004-05 base year, released last month, had shaved off 1.3 percentage points from the inflation figure for August calculated on the older series. "The lower inflation in the new series could boost the first quarter growth to 9% from 8.8%, estimated on the basis of the older series, other things being equal," said a person closely associated with the preparation of national accounts.

    National accounts use 'deflators' to neutralise the impact of increase in prices on growth and arrive at the growth in output of goods and services in constant prices. The deflator is calculated using various measures of price increases such as the WPI, which means the decline in WPI due to the change in base would have an impact on the derived number.

    In the case of certain services such as banking, the WPI is used as a deflator in the absence of an appropriate index. "The current Q1 estimates were arrived at using a deflator constructed with the older WPI data," said a (CSO) official, confirming the growth number will be revised.

    "If the new deflator is used for changing all the previous figures, then there is a possibility that it would not cause any major change in the growth estimates," said Sonal Varma, vice-president and economist at Nomura.

    "(This is because) all the figures would have been affected by new data," said Ms Varma. "But if there was a one-time adjustment, say just with the current year, it could boost the numbers," she added. The CSO is still undecided as to how and when this new information will be utilised.

    3 Oct, 2010, 01.22PM IST,TNN
    Playing it safe? Over 3,800 engineers join SBI as clerks

    MUMBAI: This may surprise those aspiring to be engineers, and may even cause a rethink among job seekers: Over 3,800 graduate and 200 postgraduate are set to join State Bank of India (SBI) in the clerical cadre.

    The SBI had a year ago advertized for over 27,000 posts in the clerical cadre. While 38 lakh aspirants from across the country applied for the jobs online, 28 lakh of them appeared for the written exam. There were 88,000 successful candidates and 27,000 were finally selected after personal interviews. "It was the biggest such exercise for us," a senior SBI official said.

    Out of the 27000, 3,800 are graduate engineers, 200 are postgraduates in different branches of engineering, 8,200 are women and 2,000 are ex-servicemen. "The response to our advertisement was huge. It took a little longer to complete the selection process," said the official.

    "I come from a leading engineering college. When I applied for the SBI job, there were virtually no vacancies in the manufacturing or IT sector due to recession. I had to seriously look at other options. After all, SBI offers a safe job," said a graduate engineer on Saturday. SBI officials expressed surprise over so many engineers and postgraduate engineers joining the bank. "The management never expected such a response from technically qualified candidates," said an official.

    According to a senior HRD professional, it is difficult to believe that engineering graduates are taking up clerical assignments. "The country boasts of having a large number of engineering colleges. However, it does appear that we are producing engineers without accessing the manpower requirement," he said.

    China supports stable euro, easier trade ahead of EU summit

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    Excitement & chaos at CWG stadium on opening day2 Hours ago
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    Tata Steel hikes prices by up to Rs 1,500 a tonne
    3 Oct, 2010, 1811 hrs IST, PTITata Steel on Sunday increased prices of its products by up to Rs 1,500 per tonne, mainly on account of rising demand.
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    1 Oct, 2010, 09.04AM IST, Sreeradha D Basu,TNN
    IIMC students get into the mind of investors


    KOLKATA: students are now studying psychological concepts to better understand investor behaviour and the financial implications of such behaviour. In a novel course introduced this year called 'Behavioural Finance' — taught by Prof Avanidhar Subrahmanyam, the Goldyne and Irwin Hearsh Chair in Finance from UCLA Anderson School of Management — the students, by means of interactive dialogue, learn about different aspects of investor behaviour , the rationale, or lack thereof, behind such behaviour and ways to forecast them.

    Classical finance assumes all investors to be rational and thus, fails to explain events like market crashes, unprecedented booms or volatility. Behavioural finance, on the other hand, proposes psychology-based theories to explain anomalies in the market.

    The course gives the students an insight into the world of irrational investors, and through interactive dialogue , helps students assess what investors would do in various situations, as humans and not as calculators.
    Nitin Pahwa, a student who took the course, said: "The course material comprised a set of recent research papers in the field and the discussions in the class were of immense value."

    C-17 deal with India could create 30,000 jobs in US: Blake

    WASHINGTON: USD 4.4 billion deal of with has the potential to create as many as 30,000 jobs in America, a top US official has said.

    "India and the US are working toward finalising an agreement for Indian Air Force to acquire ten C-17 Globemaster aircraft. This USD 4.4 billion deal could potentially create up to 30,000 jobs in the US," Assistant Secretary of State for South and Central Asia, Robert Blake said at the 27th Annual Mahatma Gandhi Memorial Lecture at San Diego State University in California.

    Often referred to as the 'workhorse of US military', these transport aircraft will boost India's strategic airlift capabilities, improving its ability to respond to military and humanitarian crises in India and around the globe, he added.

    "This deal could potentially create up to 30,000 jobs in the US and would be particularly important for Southern California: the assembly line for these colossal aircraft is located in Long Beach, just a mere 80 miles up the freeway," Blake said in his address in San Diego, California.

    As India emerges as a global player, it seeks to build a 21 st century military with the latest cutting-edge technology, he said, adding instead of relying on its historical partner Russia for hardware, it has started to look to the US, and San Diego-based companies are a key component.

    "For instance, a company called 'M Ship, based mere blocks away from the San Diego harbour, is a small, but very innovative naval architecture and technology firm that recently conceived of and developed the M80 Stiletto, an experimental Navy craft with a patented M-shaped hull," he said.

    The 'M hull' is designed to limit wake and ensure a calm ride, even at high rates of speed, often critical for sensitive military missions.

    "M Ship has reached out to begin 'preliminary work' with a Hyderabad-based company to find new building materials. M Ship's CEO Bill Burns notes could enable further US-India collaboration in M Ship's building and design endeavours," Blake said.

    AIMPLB to review Ayodhya verdict next week before moving SC

    The All India Muslim Personal Law Board will study in detail the Allahabad High Court verdict in the Ayodhya title suit when its legal committee meets in New Delhi on October 9.

    "The 10-member committee will meet on October 9 to deliberate on the court verdict in detail," member of the Board Maulana said.

    This will be followed by a meeting of the 51-member executive committee of the Board in New Delhi on October 16 to discuss strategies on challenging the verdict in the Supreme Court, he said.

    Majority of the Board members felt that the verdict should be challenged in the but a final decision on it would be taken at the executive committee meeting, he said.

    " is aggrieved by the verdict and the Muslims parties in the case will file an appeal in the Supreme Court in due course," Mohd Abdul Rahim Quraishi, AIMPLB assistant general secretary had said in Hyderabad yesterday.

    I have no formal role in Kochi IPL: Tharoor

    Congress MP Shashi Tharoor Sunday reiterated that he has no formal role or any involvement in the Kochi IPL franchise and his wife Sunanda Pushkar no longer had any 'financial interest' in the franchise.

    Tharoor also asked people to put aside their differences and put up a good team for Kerala.

    'After all the efforts made individually and collectively to bring this team to Kerala, and the sacrifices some of us have had to make in pursuance of this dream, I would wish to do whatever I can to ensure that the Kochi consortium follows through on their commitment to each other and to the cricket-loving public. My only interest is in seeing the team succeed,' said Tharoor.

    Tharoor, a Lok Sabha member from Thiruvananthapuram, Sunday visited the district Congress Committee office and reiterated that his wife had given back her shares of the IPL franchise.

    'My wife now has no financial interest in the franchise. She had purchased some shares and that has been given back and she has collected the money. This happened months ago,' said Tharoor.

    Asked about the Kerala Cricket Association (KCA) secretary T.C. Mathew saying that if the Kochi IPL team is not registered as per the Companies Act in 15 days it would be difficult for it to take part in the next Twenty20, Tharoor said he would like to see all differences resolved.

    'As a matter of principle I will not comment on private communications, I do wish to see any differences that may exist within the group resolved in the interests of Kerala cricket,' Tharoor said.

    Rendezvous Sports World in March won the franchisee rights for the Kochi IPL team for a bid price of Rs.1,500 crore.

    Rendezvous Sports World is owned by a consortium that includes Vivek Venugopal, a businessman based in and out of the state. Shailendra Gaekwad is also one of the owners.

    Venugopal with other five companies has formed a group called Kerala Consortium. The others are Anchor Earth, Parani Development Pvt Ltd, Anand Shah Developers and Film Waves.

    2 Oct, 2010, 03.10PM IST,ET Now
    This will be a cracking Diwali: KR Bharat, MD, Advent Advisors
    KR Bharat, MD, Advent Advisors, talks with ET Now on the current scenario and also identifies some money-making ideas for the readers. Excerpts:

    Indian markets have gained 9.2% in the month of September. Can you believe that?

    No, I find it very difficult to believe, but it is there in front of us. It has happened. And apart from this huge surge of liquidity that has found its way into financial markets in general and the fact that a lot of equity money has been shifted to from other markets, there is really no other rational, logical reason for this kind of rise in one month.

    India is a good market, India is a great growth story, but I personally find valuations across the board extremely rich - not just India, but across the equity spectrum. So it is purely liquidity-led rally which is continuing and this party could continue even further.

    Does it seem like it's going to top out anytime soon, or come Diwali and we will be welcoming a new high?

    That could happen. This is not something that can be rationally explained. There are huge levels of exuberance. There is a lot of liquidity and lots of money has got printed across the board - most of which has found its way into the financial markets. With the dollar depreciating, the carry trades are starting all over again. So a fresh wave of buying is coming in. People are exiting the dollars. They are going to gold, they are coming to equities. So the question we need to ask ourselves in order to answer your question is: What will trigger a reversal of liquidity from financial markets in general and from equity markets in particular? This is a billion dollar question.

    What strikes me is unless a lot of this money finds its way into productive assets in the US and in Europe, this flow into financial markets is likely to continue. A move away from financial markets into productive assets will happen paradoxically only when those economies actually show signs of improvement on the ground, which regardless of what regulators there may say is not very apparent. But it could happen. It will happen at some point of time. Is that one month away? Is that six months away? I do not know. But to answer your question, it is not going to happen before Diwali. So yes, this will be a cracking Diwali.

    September historically is always a good month for global equities and for Indian equities. But in October, we have got more downticks and less upticks, isn't it?

    Different interpretations to history as we saw yesterday with the Ayodhya verdict. But the point here is that when a correction comes, it will be brutal, there is no doubt about it because the surge is largely on the back of liquidity. So people have to sell because they need to take money out of the market. That selling will also be aggressive. The question is: Is it likely to happen in October?
    http://economictimes.indiatimes.com/opinion/interviews/This-will-be-a-cracking-Diwali-KR-Bharat-MD-Advent-Advisors/articleshow/6664607.cms


    29 Sep, 2010, 10.14PM IST,ET Now
    Expect gold to cross $2000/ounce in next 5-10 years: Jim Rogers
    Jim Rogers, chairman, Rogers Holdings, spoke with ET Now on a range of issues including the global economy, emerging markets, equities and his current contrarian bets. Excerpts:

    How do you think currently the global economy or especially emerging markets are stacked up?

    Some people are getting better, some sectors are getting better. Governments have been pouring gigantic amounts of money into the market and the people who get that money are obviously better off and they think that things are better and they are better. But overall, the situation continues to deteriorate, unemployment goes higher, the debts are staggering in the West anyway. So the whole world is going to have more and more horrible problems in the future.

    Talking about the sugar space, stocks in India have started moving up as the government has been trying to allow partial exports in surplus sugar. Do you think there is a medium term trade in sugar? Where do you see the global prices of sugar heading in the coming few months?

    Sugar is going to go much higher over the next few years. I have no idea whether this is a short term trade or not. I am terrible at it, terrible at short term trading. I am ecstatic to hear that your government is loosening up. Indian government is one of the most restrictive and controlling governments in the world. They should let sugar farmers finally make some money. So I hope that they continue to expand. I hope that the sugar farmers continue to make money and yes the price of sugar is going to be much higher over the next 5 to 10 years. So there is lots of money to be made in sugar unless your government does something foolish again.

    You have always had a contrarian approach. You were buying airline stocks in 2003-2004 when global fund managers were dumping them. You were buying and commodity stocks in 2002 when global fund managers were dumping them. Which is your current big contrarian bet for the year 2010 and beyond?

    The way I see the world, there is going to be a lot more currency turmoil in the next few years. So I am mainly playing currencies and commodities going forward. I have a few shorts. I have sold a few things short mainly in the United States, but I do not see a lot of great opportunities in the stock market.

    Let's put it this way: If there are great opportunities in the stock market, the opportunities will be better in commodities because the shortages are worse in commodities. If the world does not get better, which it may not, then you should better off owning commodities because after all, governments will continue to print money and throughout history when government has printed a lot of money, it has led the higher prices for commodities.

    So either way, my way to play this is through commodities. Buy yourself some or some rice or some natural gas, look at the things that are very cheap and maybe you will do well - no matter what happens to the world economy.
    http://economictimes.indiatimes.com/opinion/interviews/Expect-gold-to-cross-2000/ounce-in-next-5-10-years-Jim-Rogers/articleshow/6651509.cms


    27 Sep, 2010, 05.36PM IST,ET Now
    Expect more capital inflows into India: Geoff Howie, MF Global
    In a chat with ET Now, Geoff Howie, Sales & Markets Strategist, MF Global, expects more capital inflows into Asian economies and says the agro-economic market in India looks healthy.

    What do you have to say about the big picture — Indian markets are at a new 52-week high, Chinese markets at a 52-week low and Indonesian markets are somewhere in the middle?

    We have a very different story across developing Asia. Nonetheless, I do see developing Asia upbeat, particularly given the 8% inclines we have seen in the US indices this past month which culminated in the strength that we saw on Friday night. Now, because of fundamentals and the industrialisation process, we expect to see more capital inflows into the region, in particular to build on the capital inflows we have already seen in September in the Nifty.

    What is your call on the ?? We are nearing the all-time highs at this point in time. Are there any sectors that you may be closely eyeing or may have already put your money in?

    From the sectoral point of view, the theme is very much the same as in Indonesia, China or other states of Asia, and that is the sector that are most favoured to outperform in the backend of 2010 and 2011 are essentially those sectors that are leveraged to the industrial economies of these countries. When you analyse economic modernisation curves, you see that most of these companies will grow on the back of domestic demand, which essentially blows out the productivity curve and business investment, consumer sentiment and so forth. So consumers are important here in the Asian area. In India itself, obviously coming of better monsoon weather in this last season, the agro-economic market looks quite healthy for this time of the year as well as the industrial economy, given the tick up of industrial production coming in below14% in July.

    What would be your top trading idea and top investment idea for someone who is interested in the next three months and 12 months' time-frame?

    The top investment idea is pretty simple. We are maintaining a holistic view on these markets and that is to take a long view on developing Asia and hedge that with one of the indices of the advance world. Now, whether you are going long the Nifty and selling the S&P 500 or long the KLCI and selling the Nikkei 225, ultimately that is the theme. The holistic view in essence is hijacked, some of the volatility risk that will not disappear into the tail end of the year, and we also apply this mentality over to Europe as well where we are seeing the German economy lead the European economy. Thus we favour being long the DAX and show the DJ Euro Stoxx 50.
    3 Oct, 2010, 12.10AM IST, Ishani Duttagupta & Ravi Teja Sharma,ET Bureau
    Sports a motivator for India Inc
    NEW DELHI: Jamling is a regular at the offices of Maruti Suzuki. Like his father Tenzing Norgay, the first man to scale the Everest, Jamling too has made it to the top of the world's highest mountain peak a few times. And he knows what it take to reach there. So when he recounts his experiences—the build-up, hardships, hair-raising encounters and the joy of winning, et al, to executives of India's biggest car-maker, they are not only enthralled, they mentally prepare for the next big challenge in their lives.

    "There is very strong internalisation when strong personalities relate their real-time experiences," says SY Siddiqui, Maruti's managing executive officer, human resources and administration. "And who can understand and relate the essence of winning better than a champion in sports."

    More and more companies in India are seeking inspiration from sportsmen who excelled in their respective games. And many an athlete and former player is turning motivational guru as businesses learn to thrive in an environment of cut-throat competition and mind-boggling targets.

    Usually, sportsmen and women are seen as icons of passion, teamwork, discipline, hard work and commitment to win–and those are the values they would carry with them when motivating corporate audiences as well. "However, complementary skills of business acumen, relationships management and understanding of how to create a sustainable value proposition for customers are also required in the corporate context," says Prof Krishna Tanuku of , Hyderabad.

    Maruti has in the past engaged cricketers Navjot Singh Sidhu and for pep-talk sessions. Not letting go of the rigour, focussing on the task at hand and motivating oneself in different situations are some of the qualities of these sportspersons that make them apt to motivate others. Also, as Mr Siddiqui puts it, they have a great aura and people are willing to listen to them.

    At ICICI Prudential, cricketers Kapil Dev and John Wright have helped push some of their staff a notch higher. ICICI Prudential uses these speakers at their sales conventions. "Whatever I learned through cricket, I try to put it together and motivate," says Dev, who captained the Indian cricket team which won the 1983 World Cup. At sessions with companies like , , Cadbury, Johnson & Johnson, Dev says he spoke to employees about handling the pressure of life. "Take life as it comes to beat pressure and be a winner,"he adds.

    Vinita Bangard, founder of , a celebrity management and entertainment marketing firm, organised a number of such motivational speaking sessions by sportspersons for several corporates such as Marico and Johnson & Johnson, while she was heading the celebrity management services at Percept group. She got cricketers Sourav Ganguly, and , among others, to speak at company meetings. She says, "These sportspersons have a lot of experience. If they are good speakers and if they can translate those experiences into words, they can hold an audience spellbound."

    10 Sep, 2010, 08.40AM IST, Deepshikha Sikarwar & Vinay Pandey,ET Bureau
    Govt role must in land buys: Basu
    to the finance ministry    says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET:

    A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth?

    There is no getting away from the fact that some land will, over time, have to shift from agriculture to industry. This is a concomitant of development. has done this in a big way. We don t want to do it the same way indeed we can t, given our democratic structure. The US, which treats private property as sacrosanct, has eminent domain law to enable acquisition of land for public and socially valuable private sector projects. The way this has to be done is by compensating farmers and local inhabitants substantially above the prevailing market price. There is a huge difference in market price before and after an industry comes up; and, I would want farmers to get the benefit of this future price rise. At the same time, one cannot take the view that each farmer has the right to hold up a project. If we do grant such a right, then we will be violating the rights of those farmers who want to sell their land to industry.

    One of the biggest needs for is industrial development in small towns and the rural hinterland. This will create employment and boost development. For this to happen what government has to do is to provide power, law and order, and road connectivity and then leave it to the enterprise and creativity of the people. We should use the entire golden quadrilateral, where the road is already there, to develop industry along it. The aim should be to create an industrial diamond cutting across the length and breadth of the nation.

    Do you think government should help private sector to acquire land?

    Yes. The private sector, left to its own devices, could use unfair threats and force against poor farmers and tribals. We don t want that to happen. We need a legally well-designed method for acquiring land. The government has to mediate in this acquisition and after that let private industry function with minimal interference.

    What about the environment issues with the resource-rich industries?

    Environment is a difficult issue. All I can say is that we have to be vigilant in protecting our environment. But, at the same time, this cannot be at the cost of holding back our poor people in poverty. At some point we will have to face the troubling question of whether nations as big as India and China can prosper economically, taking along their entire population? Will the limits of global resource make that impossible? I am not foolish enough to claim I have answers to these questions.

    The government seems to be confident of achieving 9% economic growth next fiscal. But independent economists are not so optimistic. Why this disconnect?

    I don't think all private economists are pessimistic. has given a very optimistic forecast. And the IMF I don t know if you call it private or public has also given us a bullish forecast. I believe our forecast of 9% next fiscal year is quite realistic. This is not to deny that there are downside risks. The biggest one is the European economy. If it goes into a recession, it will affect us. But it speaks well of India that its main worry is Europe. The other concern is the balancing act one has to perform between inflation and growth. An excessively sharp tightening of monetary and fiscal variables can rapidly bring down inflation, but this will inevitably slow down growth and increase unemployment. I expect the second quarter growth this year to be less than 8.8% achieved in the first quarter. But the third quarter should be very good. On an average, the current year should achieve an 8.5% growth.

    How do you explain stubborn food inflation when we have mountains of food grain?

    It is an unfortunate fact that we have overflowing stocks of grain, some of it going waste, and high food prices. There are ways of intelligently releasing these stocks; we have to use those. If we simply open the doors and sell these stocks at zero or near-zero prices, it is likely that substantial parts of this foodgrain will be resold to government at the minimum support price.

    So we will end up paying subsidy multiple times for the same grain. On the other hand, if in the name of managing the fiscal deficit, we try to release it at too high a price, no one will buy it. What we need is a systemic reform of our foodgrains system both procurement and distribution. We should, for instance, have a procurement policy which is cyclical procuring more in years of plenty and procuring less in years of shortage when the market price is anyway high.

    Further, if stocks are greater than what we can use, instead of letting them rot, we should be prepared to export the excess. And in case we are worried about food supply in bad years, it is now possible to sell as swap deals whereby the buyer assures us of selling back the equivalent amount in a future year. This is, in effect, no different from storing the excess and taking it out when we are short of food.

    How do you see the recent moderation in industrial growth?

    Our industry is still in the recovery mode after the downturn of 2008-10. Keeping that in mind, its performance is very good. In Q1 industry grew at 10.3% and manufacturing at 12.4%, which is almost back to the performance of 2005-08 when the economy grew at over 9% for three consecutive years.

    Indeed, what is happening right now is rare for India industry is outperforming the services sector. Services are not doing badly, but by our own standards we are not quite there. Since our services sector is so outward looking, it is reasonable to expect that once the industrialised nations begin to do better, we should be able to climb up from the current growth of 9.7% to 11% that we earlier achieved. I should also mention that industrial growth of 12.4% means that employment is being generated in the economy. The two sectors doing particularly well within the industry are capital goods and consumer durables. The first shows optimism among firms and the second shows optimism among consumers. So not only have we done well this year but the long-term prospects look good as well.

    But pick up in investments is not throwing up clear trends You are right. But usually, when an economy is given a fiscal stimulus, it does slow down savings and investment a little. This has happened in India but we are still in a comfortable zone.

    There is a view that should pause interest rate increases because of a moderation in industrial and exports growth, although inflation remains a concern. There are times when action is obviously needed and times when action is not needed. The current situation is in the cusp of the two. Growth is comfortable, especially so by all international standards. But inflation, though slowing, is by no means gone. Food price inflation was tapering off but there is concern about global food prices. There is a large shortfall expected in global wheat production; the estimated decline is largest in fifteen years. This is pushing up global wheat price rapidly. We have to keep a close watch on this. And it is important that we continue with our fiscal tightening.
    http://economictimes.indiatimes.com/opinion/interviews/Govt-role-must-in-land-buys-Basu/articleshow/6528499.cms


    2 Oct, 2010, 06.10AM IST,ET Bureau
    Ratan Tata in UK advisory committee
    MUMBAI: , the chairman of the salt-to-software Tata Group, has been included in a 19-member group of notables that will assist the UK government in preparing business strategies and highlight priorities for the British economy.

    Mr Tata's inclusion in the panel illustrates the increasing visibility of the Indian group in the UK, where it owns marque brands such as and the venerable tea company, . About 65% of the Tata Group's revenue comes from outside India, mostly from Corus and Jaguar Land Rover. Some of the other industry leaders in the council include Paul Walsh of Diageo, Sir of WPP, Justin King of Sainsbury's, Sam Laidlaw of Centrica, Sir Michael Rake of BT and Dick Olver of .

    Sony chairman Sir Howard Stringer and Mr Tata were included in the list at the last moment, international media reports said.

    The didn't comment on the issue. The panel of leading industry bosses will interact with the UK government on business issues, according to people familiar with the development.

    Mr Tata, who is scheduled to retire as head of the Tata Group in 2012, has been part of various advisory councils in India, the most recent being an in advisory panel formed to suggest ways to restructure the ailing national carrier, Air India.

    Mr Tata is also part of the global advisory board of Nanobiosym, a leading global nanotechnology organisation that was founded as an idea incubator and research institute. This group also has members such as Boston Scientific chairman John Abele, Alfred Ford from the Ford business family and eminent international diplomat John Palmer.

    Five cos to make debut on bourses this week

    As many as five firms, including Eros International and Ramky Infrastructure, will get listed on the stock exchanges this week.

    The five companies scheduled to get listed on the bourses this week mopped up a total of nearly Rs 2,180 crore through their respective initial public offerings last month.

    The week will see the listing of (October 6), (October 6), (October 8), (October 8) and (October 8), merchant banking sources involved with the told PTI.

    There are rumours that for the Eros listing, promoters Kishore and Sunil Lulla could rope in Bollywood Badshah Shah Rukh Khan for the listing ceremony, as SRK's latest film, 'RA-1', is being released under the Eros banner.

    "Also, SRK is keen to come to the National Stock Exchange if the listing happens there since it is early morning, 8.30 am, and NSE located in Bandra Kurla is closer to his house, Mannat, located in Bandstand, Bandra West," a person close to listing ceremony preparations said on the condition of anonymity.

    With the stock rising at a faster pace, many firms are tapping the capital market to cash in on the upbeat investor mood.

    Last week, the BSE Sensex recorded a net gain of 2 per cent, extending its winning streak for the fifth straight week. In September, the Sensex rose by over 10 per cent.

    Last month alone, over one dozen companies came out with public floats. In fact, the September 20 to September 25 period was the busiest week in the last 15 years for the primary market.

    During the period, eight companies seeking to raise around Rs 3,000 crore through IPOs hit the capital market, while three others were already underway, giving people the choice to invest in as many as 11 companies in a single week.

    Over 22 companies apply for IPOs

    More than 22 companies filed draft papers for initial share offers in September, the highest in any single month of 2010 so far, according to data from regulator Securities and Exchange Board of India (Sebi).

    As per details available with Sebi, over 22 companies filed draft red herring prospectus (DHRP) for their proposed initial public offers in September.

    The DRHP of at least 22 firms has already been uploaded on the Sebi website, while some are still to be uploaded. The maximum number of DHRPs filed in a single month this year so far was 18 in March.

    The companies that jumped on the bandwagon during September include state-run and Hindustan Copper . Some other big names include L&T Finance Holdings (Rs 1,500 crore), Kalpataru Ltd (Rs 1,000 crore) infra major HCC- promoted Lavasa Corporation (Rs 2,000 crore), Emaar MGF (Rs 1600 crore) and Kishore Biyani-promoted Future Ventures India (Rs 750 crore).

    The rally in the secondary market and some good listings in recent weeks have also encouraged India Inc to tap the capital markets, analysts said. The Bombay Stock Exchange benchmark sensex regained the magical 20,000-level in September after a gap of 32 months.

    Equity analysts said the rally was driven by huge inflows from , which have invested over Rs 80,000 crore in local stocks so far this year.

    30 Sep, 2010, 09.41AM IST,REUTERS
    Coal India shares to begin trade around Nov 4: Term sheet

    HONG KONG/MUMBAI: Shares in state-run , which plans to raise up to $3 billion in what would be the country's largest initial public offering, will begin trading on or around Nov. 4, according to a term sheet.

    The company is selling roughly 631.6 million shares and will set a price range on or around Oct. 13 before opening order books on Oct. 18 and setting the final issue price on or around Oct. 23, according to the term sheet.

    1 Oct, 2010, 01.05AM IST,ET Bureau
    SAIL FPO likely before Dec holidays

    NEW DELHI: Steel Authority of India (SAIL) could come out with its follow-on public offer (FPO) as early as December, as the company is keen to avoid the holiday season in the developed countries, a company official said.

    "If the issue is unable to open in December, it would probably come up by late January or early February next year," chairman CS Verma said after the company's AGM. Steel secretary PK Misra had also said that the SAIL's may be advanced to December to get maximum benefit from the buoyant market conditions.

    The offer will involve a 5% stake sale by the government and 5% fresh equity offer by the company, though the government has approved 10% fresh equity and 10% disinvestment in the company. The second round of offer will be launched the next financial year.

    The steel major is still to complete appointment of requisite number of independent directors as per SEBI guidelines. Besides, the government is restructuring its board to reduce the number of functional directors.

    The company has already shortlisted six bankers, including and , for managing the first phase the FPO. , , and HSBC are the other bankers for the FPO.

    The government holds a little over 85% stake in SAIL and post-FPO, its equity in the company is expected to go down to 69%. SAIL wants to part-fund its Rs 70,000-crore expansion from the proceeds of the share sale, while for the government, the stake dilution will help attain its disinvestment target of Rs 40,000 crore for this fiscal.

    America: What Classless Society?

    By Jack A. Smith

    02 October, 2010
    Countercurrents.org

    The so-called growing rich-poor gap in "classless" America is a euphemism for the existence of an accelerated class struggle against American workers and the poor by a relatively small minority that possesses or has access to great wealth and power.

    The Census Bureau reported Sept. 24 that the income differential between rich and poor Americans was greater in 2009 than any time since such records were kept.

    Another Census report two weeks earlier revealed that America's largest year-to-year increase in poverty took place in 2009, although its estimate of 43.6 million people living in poverty is considered a serious undercount based on outmoded measurement criteria. Young workers and children are fast falling to the bottom of the heap. The biggest poverty jump last year was among 18 to 24 year old "less-skilled" adults, and 20% of our children live in poverty.

    The Associated Press reported Sept. 28 that "The top-earning 20% of Americans — those making more than $100,000 each year — received 49.4% of all income generated in the U.S., compared with the 3.4% earned by those below the poverty line, according to newly released Census figures. That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968.

    "A different measure, the international Gini index, found U.S. income inequality at its highest level since the Census Bureau began tracking household income in 1967. The U.S. also has the greatest disparity among Western industrialized nations in the Organization for Economic Cooperation and Development."

    Following are some recent statistics and statements that show how wide is the chasm between the upper class and the rest of American society, from the poorest of the poor through the working class and middle class.

    (Note in following paragraphs the difference between "income," meaning what you earn each year, and "wealth," meaning income plus assets — assets being everything you own, from your house, car and furnishings to all your property, savings, stocks and bonds, yachts, jewelry, etc.

    According to the Wall St. Journal, a 2008 study of wealth in the United States found that the richest .01% (that's one-hundredth of one percent, or 14,000 American families) possess 22.2% of the nation's wealth. The bottom 90%, or over 133 million families, control just 4% of the nation's wealth. The remaining top 9.99% made ends meet with what's left, 73.8%.

    David DeGraw also has written that "a recent study done by Capgemini and Merrill Lynch Wealth Management found that a mere 1% of Americans are hoarding $13 trillion in investable wealth...and that doesn't even factor in all the money they have hidden in offshore accounts."

    A recent report by Ray B. Williams points out that "The U.S. Census Bureau and the World Wealth Report 2010 both report increases for the top 5% of households even during the current recession. Based on Internal Revenue Service figures, the richest 1% have tripled their cut of America's income pie in one generation. In 1980 the richest 1% of America took 1 of every 15 income dollars. Now they take 3 of every 15 income dollars.... Income inequality has been rising since the late 1970s, and now rests at a level not seen since the Gilded Age (1870 to 1900), a period in U.S. history defined by the contrast between the excesses of the super-rich and the squalor of the poor."

    According to Paul Buchheit of DePaul University "In 1965, the average salary for a CEO of a major U.S. company was 25 times the salary of the average worker. Today, the average CEO's pay is more than 250 times the average worker's." The New York Times reported March 31, 2010, that "Top hedge fund managers rode the 2009 stock market rally to record gains, with the highest-paid 25 earning a collective $25.3 billion, according to the survey, beating the old 2007 high by a wide margin." The annual GDP of nearly 90 UN member nations is lower than what these people took home last year. The highest paid manager on the list was David Tepper of Appaloosa Management, who made $4 billion last year."

    Year 2009 may have been an economic disaster for a record number of Americans, but the U.S. billionaire caste — and millionaires as well, of course — had an excellent year. According to Forbes magazine, 2009 "was a billionaire bonanza," with Bill Gates profiting by $13 billion (enlarging his wealth to $53 billion), and Warren Buffett getting $10 billion richer (increasing his fortune to $47 billion).

    There are 1,011 billionaires in the world (40% are Americans) with an average net worth of $3.6 billion — a relative trifle more than the "wealth" possessed by the bottom half of the entire world population.

    Throughout their lives, average Americans are taught by their school, church and corporate mass media that theirs is a classless society, and that the notion of classes, class struggle or class war is just left wing propaganda.

    Differences in income are acknowledged — but it is claimed that since upward mobility and attainment of the American Dream are available to everyone if they work hard enough, there is only one class despite gradations in wealth. It's called the middle class, presumably with statistical subsections for the very rich and very poor. But the "Dream" and upward mobility have never been available to everyone, and over the last three decades have been substantially reduced for many new generations of working families.

    How often do you hear the politicians of the two ruling parties or the government they administer referring to the working class, lower middle class, the lower class or the upper class and the ruling class?

    In America, virtually everyone seems to be lumped into the middle class if they are earning between $25,000 and $250,000 a year, which is a preposterous parody of real class relations. Representatives of these two income variants have little to nothing in common except the class to which they appear to have been assigned.

    The millions living in poverty are called "the poor" and are in the public mind often blamed for their own plight (lazy, shiftless, ignorant). The very rich are called the "top 1%," and the simply rich are termed the "top 10%," and are often admired and thanked because they create the jobs that prevent the inhabitants of the middle class from falling into the ranks of the poor.

    For the past three or four decades the upper class and its agents have been accelerating a campaign against the wages and living standards of the working class/lower middle class and more recently the middle class as well, pushing more and more people into the lower classes. One example of this is that wages no longer correlate to productivity increases, as they did in the first three decades after World War II; another is the erosion of progressive taxation.

    In addition, the influence of wealth on the White House and Congress has seen to it that hardly any significant social service legislation has come out of Washington for 40 years. President Obama promotes his healthcare legislation as a major progressive achievement, but this apex of the current administration's social contribution is to the right of Democrat President Harry Truman's proposals in 1948 and Republican President Richard Nixon's program of 1972. Truman and Nixon failed, and there has been such political regress over these decades that Democratic Party programs now emanate from the center/center-right.

    The problem isn't just the disproportion of money in the hands of a small minority while the standards of most American families are eroding, but it is what's done with all that money. It elects Presidents, governors and mayors in most of the major cities. It elects members of the House and Senate and state legislatures. If you have millions to spend without batting an eye, you have political clout in America, often decisive clout, and it's principally deployed to further the interests of the "haves," as opposed to the "have nots."

    This is what is meant by class war, and it seems to be waged these days only by the top 10% (the upper class) that controls 96% of the wealth against the 90% (working class to middle class and lower class) which controls 4%. The bottom 50% by the way accounts for a pathetic 1% of America's wealth.

    Isn't it time for the "bottom" 90% to stand up, fight back, and claim their share?

    The author is editor of the Hudson Valley Activist Newsletter and is former
    editor of the (U.S.) Guardian Newsweekly. He may be reached at
    jacdon@earthlink.net or
    http://activistnewsletter.blogspot.com/

    Wealth of Poverty

    By Keizen Krishna

    02 October, 2010
    The Verdict Weekly

    India's first Prime Minister, Jawaharlal Nehru was an ardent supporter of the co-operative movement. His views on the subject are well known. No individual has, of course, absolute freedom. But, if we value individual freedom, as many of us do, how are we to find a balance between preserving that individual freedom and at the same time getting away from the clutches of an acquisitive society? The co-operative movement seems to offer a philosophy which would aim at this kind of social pattern.

    India has a wealth of poverty. Indeed, where poverty is concerned, it has an embarrassment of riches. The United Progressive Government in the centre has launched the National Livelihood Mission for upliftment of the poor people and a new pension scheme for workers of the unorganized sector. With the starting of Mahatma Gandhi Rural Employment Guarantee Scheme, the government has started a number of other plans for improving the lot of poor populace.

    The livelihood mission aims to benefit nearly 6.5 crore poor families by raising their standard of living. This scheme will come into effect from the month of October.
    For the success of this scheme, the Union government and the state government will be assisted by volutntary organizations and financial bodies. The scheme would be run by the Union Rural Development Ministry. Through this scheme, the government aims to uplift the lot of people living below the poverty line in villages. Even though people living below the poverty line are also to be found in towns and cities, yet the government has taken up first the welfare of the people living in the rural areas.

    This scheme aims to improve the lot of the people living below the poverty line in a period of 6 to 8 years. Under the Mission, the poor people would be provided jobs under MGNREGA, food-grains from the Public Distribution System, health and education facility. It would also be ensured that they have information about all the government schemes and they are also availing benefits of them. Within the span of next seven years, one person of the family below the poverty line would be made a member of self-help group. The Mission has a sole objective of eliminating poverty within the next seven to eight years from rural India. The union government has made a provision of Rs 100 crore for the budget of pension scheme in the unorganized sector for the year 2010-11 and it has been started from September 26. This scheme would be beneficial for those people who are not under the scope of any social security benefits. With implementation of this proposition, all the countrymen are being brought under the umbrella of social security schemes.

    In the meantime, one more question in our mind is that is Indian government favouring cooperative sector? Up till now, banks, consumer co-operatives and other business co-operatives, societies like agriculture credit, urban credit, handloom, fisheries and labour co-operatives were not taxable. However, under the revised Tax Code Bill, except primary agriculture credit co-operative societies and primary land development co-operative banks, all other co-operative societies would be taxed.

    The above step of the Government of India raises a moot question - Is the GoI in favour of developing the Co-operative sector? Another question which comes to mind is whether the private sector is behind this move of the GoI to withdraw concessions being given to the Co-operative sector as this sector is making fast expansion, a move not being liked by the private sector. For the social and economic development of the people of India, public sector, private sector and the Co-operative sector are playing their roles. However, the Co-operative sector is the only sector which is making efforts for establishment of social structure sans exploitation, welfare of the weaker sections of the society and women and encouraging the system of community life in the country. To achieve its aims, the sector needs more relief and facilities than the other two sectors of development.

    India's first Prime Minister, Pt Jawaharlal Nehru was an ardent supporter of the co-operative movement. His views on the subject are well known. No individual has, of course, absolute freedom. But, if we value individual freedom, as many of us do, how are we to find a balance between preserving that individual freedom and at the same time getting away from the clutches of an acquisitive society? The co-operative movement seems to offer a philosophy which would aim at this kind of social pattern.
    Nehru made efforts all his life for expansion and development of the co-operative movement in the country. But, the task of the present government at the Centre is just opposite to that of the Nehru in the matter of co-operation.

    Overlooking of importance of the co-operative sector and taking any step by the Govt of India is likely to create obstacles in its (cooperative sector) way to achieve noble goals and this is not in the interest of the country.

    Now, time has come to strongly protest the move likely to be taken by the GoI against the interests of the cooperative sector. if not all, at least one fourth of the 23 crore members of the cooperatives in the country should send memorandum with their signatures to India's incumbent Prime Minister Dr Manmohan Singh and the Finance Minister Pranab Mukherjee expressing their displeasure which would create new problems in the smooth functioning of the co-operative bodies.

    Task of preparing the memorandum and getting the signatures of the members of various co-operatives should be taken in hand by the National Co-operative Union, New Delhi with the help of the State Co-operative Unions, District Co-operative Unions and other co-operative institutions.

    Besides the above, all state co-op unions should pass a resolution regarding not imposing tax on any type of co-operatives by the Government of India and send it by registered post AD to the Prime Minister and the Finance Minister. It should be made mandatory that copies of the resolution passed by every state co-operative union should be given to the state level and the national level newspapers for publication.

    Keizen Krishna is a post-graduate in political science from Bombay University and can be contacted at theverdict@sify.com

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    		Karnataka's special 'scam' session
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    		Katta family scam involves 3000 acres
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    Germany Marks 20th Anniversary of Reunification

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    Mamata's West Midnapore rally to stir up trouble: CPI(M)

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    		Pointing out that the Left Front meeting was held in Midnapore town, and not at Lalgargh like the one addressed by her, Mamata said: "He (CM) doesn't have the guts to hold a meeting at Lalgarh. He went to Midnapore to protect the gun-toting CPM harmads in police uniform who have been terrorising the locals. People have left their homes because of these harmads, turning a huge area into a smashan nagari (a dead town)."
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    		Mamata's West Midnapore rally to stir up trouble: CPI(M)
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    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/Ve5cDEyI8zY/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=Ve5cDEyI8zY">Maoists want to capture power with violence: Buddhadeb</a> <span class="source">Asian News International (ANI)</span> &nbsp;-&nbsp; 8 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=Ve5cDEyI8zY">Watch video</a></div>





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    The Hindu - Raktima Bose - ‎18 hours ago‎
    PTI West Bengal Chief Minister Buddhadeb Bhattacharjee addresses a Left Front rally at Midnapore town. Photo: PTI Vowing to "uproot" the Trinamool Congress-Maoist combine from the soil of Paschim Medinipur district soon, West Bengal Chief Minister ...

    		Pointing out that the Left Front meeting was held in Midnapore town, and not at Lalgargh like the one addressed by her, Mamata said: "He (CM) doesn't have the guts to hold a meeting at Lalgarh. He went to Midnapore to protect the gun-toting CPM harmads in police uniform who have been terrorising the locals. People have left their homes because of these harmads, turning a huge area into a smashan nagari (a dead town)."
    more by Mamata Banerjee - 17 hours ago - Times of India (1 occurrences)



    We will give answers on October 6, says Mamata

    The Hindu - ‎18 hours ago‎
    "We will give our answers on October 6 when I address a meeting at Medinipur," Trinamool Congress Chief Mamata Banerjee said, reacting to comments made by West Bengal Chief Minister Buddhadeb Bhattacharjee at a rally in Midnapore on Saturday. ...

    'Trinamool's West Midnapore rally will spread violence, unrest'

    Sify - ‎2 hours ago‎
    Kolkata, Oct 3 (IANS) West Bengal's ruling Left Front chairman Biman Bose Sunday launched a scathing attack on the Trinamool Congress, describing its rally Wednesday at West Midnapore as 'a part of its agenda of spreading violence and unrest'. ...

    Mamata hits out at Buddhadeb

    Times of India - ‎19 hours ago‎
    KOLKATA: An hour after West Bengal chief minister Buddhadeb Bhattacharjee addressed a public rally in Midnapore on Saturday, Trinamool Congress chief Mamata Banerjee hit out at him, saying he went there to protect the CPM 'harmads' (armed groups). ...

    Ahead of Mamata visit, her team surveys strife-torn area

    Indian Express - ‎18 hours ago‎
    Ahead of Trinamool Congress chief Mamata Banerjee's visit to Junglemahal, a five-member team of the party visited the villages in Bandarboni area in Binpur police station area of West Midnapore district where a Maoist and a CRPF jawan were killed ...

    Buddha tours Naxal belt, slams Didi-Reds 'nexus

    Times of India - ‎19 hours ago‎
    MIDNAPORE: With a long list of 'martyrs' in the backdrop and a teeming crowd gathered in front of a dais, chief minister Buddhadeb Bhattacharjee took on the Maoists and their "protector", the Trinamool Congress, on Saturday, reasserting the CPM's ...

    War of words between CM, Mamata

    Times of India - ‎Oct 1, 2010‎
    KOLKATA: They may not be willing to face each other on the social platform, but chief minister Buddhadeb Bhattacharjee and his bete noire Mamata Banerjee have never missed an opportunity for a verbal spar. Friday marked a fresh episode in the war of ...

    In Red fort, Buddha takes on Maoists

    Hindustan Times - ‎23 hours ago‎
    West Bengal Chief Minister Buddhadeb Bhattacharjee on Saturday unveiled the clenched fist under his velvet gloves. Delivering a speech at the Midnapore College ground, 50 km from the Maoist stronghold of Lalgarh, he legitimised CPI(M)'s armed operation ...
    All 25 related articles »

    Related

    Mamata Banerjee
    Buddhadeb Bhattacharjee
    Darjeeling
    All India Trinamool Congress
    Lalgarh
    West Bengal

    Timeline of articles

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    		Mamata's West Midnapore rally to stir up trouble: CPI(M)
    ‎1 hour ago‎ - Hindustan Times

    		War of words between CM, Mamata
    ‎Oct 1, 2010‎ - Times of India


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    Maoists want to capture power with violence: Buddhadeb
    Asian News International (ANI)  -  8 hours ago Watch video
    <div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/Ve5cDEyI8zY/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=Ve5cDEyI8zY">Maoists want to capture power with violence: Buddhadeb</a> <span class="source">Asian News International (ANI)</span> &nbsp;-&nbsp; 8 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=Ve5cDEyI8zY">Watch video</a></div>





    A

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