5
Mar

Fixing would not affect on my political career: Azhar

Posted by sandip lakhani

Former Indian cricket captain or in other words Match fixer Mohammed Azharuddin said he was confident that the match-fixing controversy surrounding his name would not have any impact on his political career.

Mohammed Azharuddin, who last month joined the Congress, said here no criminal case had been filed against him in relation to the match-fixing scandal. "But I had registered a case against the BCCI in this regard," he told a meet the press program.

Asked if the scandal, which cut short his brilliant cricket career in 2000, would impact his candidature in the Lok Sabha elections, the former stylish batsman said, "I do not think this will cause any difficulty in the elections."

Asked to name the constituency from which he would contest the elections, the former skipper, like a seasoned politician, said he will contest from wherever his party ordered him to do so. Mohammed Azharuddin, who runs an event management company in Hyderabad, joined the Congress on February 19. 

4 comments »
4
Mar

Navin Chawla to take over as next CEC

Posted by sandip lakhani in ,

Election Commissioner Navin Chawla will take over as the next Chief Election Commissioner on April 20, succeeding N Gopalaswami who will retire on that day. 

Navin Chawla, an IAS officer of the 1969 batch, will hold charge till July 29, 2010 when he will attain the age of 65 years. 

"The President has approved the appointment of Navin Chawla as the Chief Election Commissioner with effect from April 20 on completion of the tenure of N Gopalaswami," a Rashtrapati Bhavan communique said here today. 

Navin Chawla, who will be taking over in the midst of the five-phased Lok Sabha elections, will oversee four phases of the polls. 

The elevation of Navin Chawla, who was appointed as Election Commissioner on May 13,2005, comes after a controversy triggered by Gopalaswami's recommendation to the President for his removal from office for alleged "partisan" functioning. 

Navin Chawla has been elevated to CEC's post on the advice of the government which had rejected Gopalaswami's plea for his removal, saying there was no merit in the allegations against the election commissioner. 

The Chief Election Commissioner, a Constitutional post, enjoys a term of six years or till the age of 65 years, whichever is earlier. 

Navin Chawla has earlier served in various capacities in the government during his career, the last being secretary in the Ministry of Information and Broadcasting. He has also served as secretary to the Union Public Service Commission (UPSC). 

Navin Chawla is a recipient of the Italian government's Mazzini Award, instituted in honour of writer Giuseppe Mazzini, for his contribution to promote ties between India and Italy. 

After Gopalaswami's retirement, the government will have to appoint a third election commissioner.

1 comments »
2
Mar

Firing at cricket stadium at lahore, 7 players injured

Posted by sandip lakhani in ,


7 Sri Lankan cricket players injured in firing at Gaddafi stadium at Lahore

In an incident which could have turned many fears to reality, the convoy of Sri Lankan cricket team was attacked by unidentified gunmen at Gaddafi stadium in Lahore. At least 12 gunmen have been reported to be involved in the attack.

Seven players of the Sri Lankan cricket team have been injured. Five policemen who were trying to shield the van carrying the cricketers have been killed in the encounter.

Four of the cricket players are seriously injured - Thilan Samaraweera, Kumar Sangakara, Ajanta Mendis and Tharanga Paranavithana.

The gunfire is reported to have continued for 25 minutes. Two bombs were also thrown at the convoy. The view of world will be change toward Pakistan after this incident.

1 comments »
28
Feb

Is Modi the next Prime Minister ?

Posted by sandip lakhani

IF the opinions of some of Internet users are anything to go by, Narendra Modi should not be the next chief minister of Gujarat. Instead, he should be the next Prime Minister of India. Free social networking sites on the Internet is galore with communities and postings, which project Narendra Modi as BJP’s best bet for prime ministerial candidate for the general elections in 2009. 

A posting in Orkut, a social networking site, apparently sent from Meerut, said, “It is time Narendra Modi is promoted as PM and not just as CM of Gujarat. A thumping victory in Gujarat can force the BJP leadership to hand over the mantle to Narendra Modi. This will help BJP to encash on Narendra Modi’s popularity amongst the Hindus and save their own seats and deposits in 2009 elections. Uttar Pradesh election results have shown what is going to happen in future. Gujaratis must not miss this opportunity.” 

Another scrap, by an apparent non-resident Gujarati from New Jersey, said, “Missing BJP here in America. A great personality is handling BJP Government in Gujarat, so have created this community in order to honour the one and only courageous and talented Mr Narendra Modi and his ministry. Yeh Woh Modi Hai Jisne Hame Hamare Dushmano Ke Samne Sar Uthake Jina Sikhaya, Jo Hamare Gujarat Me Ham Hi Pe Raj Kar Rahe The. (Narendra Modi has taught us to face our enemies and live with pride). So, make him the next Prime Minister.” 

Some entries also provide a list of reasons why Narendra Modi is the best candidate for the next PM. One list read: 

“1. He has stood by Hindutava no matter what the situation. He is loyal and must be rewarded. 

2. He has stood by the party unlike Uma Bharti, who is also a popular leader but had spoken against the party. 

3. Gujarat is India’s best state under Narendra Modi’s leadership. 

4. Narendra Modi is an OBC and I think the time has come that we should bring OBC candidates to lead Bharat.” 

BJP Supporter’s Group, a community in Orkut, with a membership of well over 8,000, had carried out a poll on prime ministerial candidates. Out of the total 365 votes casted, Narendra Modi had a clear majority. However, Gujarat Pradesh Congress Committee President Bharat Singh Solanki said, “These are the manifestations of his propaganda. How much of public support he really has will be seen only after the elections.” 

Suspended BJP leader Gordhan Zadaphia went a step ahead. “He (Narendra Modi) is a master of manipulation. With the kind of fabricated picture he has projected outside, people are bound to get influenced,” he said.

1 comments »
24
Feb

Narendra Modi – The Lion of Gujarat

Posted by sandip lakhani

Narendra Modi was born on 17th September 1950 in a small town of Vadnagar in Mehsana district in North Gujarat in India.

  Narendra Modi completed his schooling in Vadnagar and did his masters degree in Political Science from Gujarat University. Even as a boy he was interested in social services. During the Indo-Pak war in early sixties, he went to help the soldiers in transit in railway stations. In 1967 he offered voluntary services to the people affected in Narmada Tapti floods. He continued serving the victims of major disasters in various parts of the country in his student and adult life. 

  Narendra Modi's abilities and leadership qualities were seen in the early days of his student life when he became the student leader of Akhil Bhartiya Vidhyarthi Parishad (All India Students Council). He played a prominent role in the anticorruption movement in 1974 in Gujarat. 

  He entered politics in 1987 by joining the Bharatiya Janata Party. Within a year, he was elevated to the level of General Secretary of the Gujarat unit of the party. In 1995 he was made the National Secretary of the party in-charge of five major states in India – a rare distinction. He traveled extensively through out the world, which helped him to develop a global perspective.

  After carving a niche for himself in the national politics as a master strategist, he took over as the Chief Minister of Gujarat on 7th October 2001.

  Narendra Modi, who is ever capable of turning an adversity into an opportunity made use of his inexperience to start afresh, on a clean slate without the burden of the past. His beginner mind was a blessing in disguise for him to learn things without any bias and without the need to unlearn the dead past. Though he was a wandering type of Sangh Pracharak he had a wealth of national and international exposure with him. Immediately after the swearing in ceremony he swung into action. His administrative acumen, clear vision and integrity brought him a landslide victory in the general elections held in December 2002 and he was sworn in as the Chief Minister for the second term on 22nd December 2002.

  The biggest challenge which Narendra Modi had to face when he took over as the Chief Minster was the reconstruction of the earthquake affected areas. Bhuj was a city of rubble. People were living in temporary shelters without basic infrastructure. Earthquake recovery became his first priority. His dynamic vision and quick decisions have put Gujarat Reconstruction Programme as one of the best reconstruction programmes on the global map and set a benchmark for reconstruction and disaster recovery, not only in India, but also in the entire Asia. Earthquake reconstruction and rehabilitation in Gujarat achieved global recognition.

  Narendra Modi as soon as he took over as the Chief Minister focused quickly on integrated overall development. Along with industrial growth and economic development, he also focused on rural development, improvement in education, education of girl child, development of the deprived, agricultural development, science and technology and disaster management. Gujarat had always focused on industrial growth, but Narendra Modi made an attempt to correct the imbalance in development by focusing appropriately on social sectors, integrating social and economic growth. He put Gujarat on the road to integrated development with a special focus on five sectors namely – education, water, energy, human resources and safety & security.

  Narendra Modi quickly shifted the gear from government centered administration to people centered administration. People's participation became the foundation of all development programs. Efficient application of information technology for governance, focus on agriculture, human resources development, and delivery of health services, rural development and thrust on post disaster recovery has made Gujarat emerge as the leader among the Indian states in spite of a series of disasters.

  Attention and priority given by Narendra Modi to education as compared to any other past Chief Minister of the state is also noteworthy. His realization that no amount of economic, industrial or commercial resurgence can be sustained on a long-term basis without the foundation of proper academic and professional education has made him re-work the whole system of education in Gujarat state. Successive annual campaigns for enrolment of all children in schools, with a special focus on enrolment of the girl child have brought lakhs of children back to school, which otherwise would have been left out. The concern of the Narendra Modi for education of the girl child is reflected in the fact that he has specially created a fund called “Kanya Kelavani Nidhi”. Now it is a well-known fact that all the gifts received by Narendra Modi are auctioned and the funds are credited to this account.

  Narendra Modi has been constantly innovating for improving the efficiency and productivity in various sectors. One such innovative step is the decision to involve private sector for development of huge wastelands. Another innovative step is celebration of traditional festivals, and covert them into events of major tourist attraction. In a mobile world in order to make citizens really mobile, roaming ration cards and roaming school cards have been introduced. Provision of soil health cards to the farmers is another innovation to help farmers improve the land quality and ultimately agricultural productivity. “Sujalam Sufalam” scheme launched to create a grid of water resources in Gujarat is another innovative step towards water conservation and its appropriate utilization.

  Vibrant Gujarat Global Investor's meet is an innovative bi-annual submit organized by Narendra Modi to attract investment from rest of the country and abroad. Narendra Modi in his five years of rule has ensured all round development of Gujarat in all areas including agriculture, rural development, education and industrial development. His vision is to make Gujarat emerge as the leader, not only in the Indian sub-continent, but also in the entire Asia to compete with Japan, Taiwan, and China.

  Narendra Modi looks beyond the immediate gratification for the purpose of getting votes. The programmes such as Krushi Mahotsav, River Grid, Chiranjeevi & Matru Vandana schemes, schemes for reduction in infant mortality rate, Beti Bachavo campaign (save the girl child), Jyotigram, Karmayogi Abhiyan etc. aim at multi-dimensional development of Gujarat in the long-term. The vision, concept and implementation of such programmes make Narendra Modi rise as a statesman, who thinks of the next generation in the backdrop of politicians who think about the next elections. 

  UN Sasakawa Award for disaster reduction, CAPAM award for innovation in governance, UNESCO award, CSI award for e-governance, No.1 state in industrial investment (MOUs), No.1 among major health care services, availability and utility of infrastructure, Indiatech award in power sector etc. is an indicative list of what Gujarat achieved under the able Chief Ministership of Narendra Modi. The very fact that Narendra Modi has been ranked as the number one Chief Minister by the public for the second consecutive year speaks volumes about his achievements.

  Narendra Modi is a powerful orator – avid reader and an original thinker. Apart from numerous articles and Essays, he also has authored three books.

1 comments »

The highest paid CEO in India

Posted by Alpesh

Even in these times of economic gloom, there are chief executive officers who are earning huge salaries. Some time ago, Prime Minister Manmohan Singh had sparked off a debate when he suggested that CEO salaries should be curbed. That was when there was no economic crisis anywhere in sight.

Now even the epitome of capitalism, the United States, has endorsed those views, and American policymakers want CEO compensation to be kept at manageable levels. Meanwhile, here is a list of the highest paid CEOs in India.

Note: Market cap as on February 16, 2009

Mukesh D Ambani

Rank: No 1

Designation: Chairman and managing director

Company: Reliance Industries Ltd

Compensation: Rs 44.02 crore (Rs 440.2 million)

Reliance market cap: Rs 193,076.66 crore (Rs 1930.77 billion)

Background: Mukesh Ambani has been ranked India's richest person, and the world's fifth richest man, by business magazine Forbes. His net worth is approximately $50 billion. With a personal stake of 48 per cent, he is the largest shareholder of Reliance Industries, India's largest private sector enterprise.

Ambani, who joined Reliance in 1981, led the creation of the world's largest grassroots petroleum refinery at Jamnagar, Gujarat, built at a cost of Rs 100,000 crores (Rs 1,000 billion).

His fortune has seen a 62 per cent drop since January 2008, but he still ranks No 3 in Forbes' list of world's wealthiest CEOs.

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23
Feb

Bhojpuri actor Ravi Kishen may join Congress

Posted by sandip lakhani

Bhojpuri actor Ravi Kishen may soon join the increasing number of celebrities who have become poster boys for political parties in the run-up to the forthcoming Lok Sabha polls.

The Bigg Boss finalist, who had earlier wished to stay away from politics after claiming to have got similar offers from the Bahujan Samaj Party and the Bharatiya Janata Party, now seems to have made up his mind about joining politics.

"I am in talks with the Congress leadership both in Maharashtra and at the Centre. I have put forward some conditions to them and as soon as things materialise in that direction, I will take the final decision," Ravi Kishen said.

The actor, who has featured in several Bhojpuri and Hindi films, has a considerable fan following in Uttar Pradesh  and Bihar. He is also expected to campaign for the Congress along with its youth icon Rahul Gandhi .

Kishen added that he will meet Congress president Sonia Gandhi soon. According to sources close to Kishen, the actor has demanded a party ticket from Jaunpur in Uttar Pradesh, which happens to be his home turf as he hails from Kirkat village of the constituency.

"It will give me an opportunity to work among the people of my region and also benefit the party by strengthening its base," he said. The actor claims that the BSP and the BJP were interested in fielding him in the forthcoming elections.

The BSP had reportedly asked him to contest either from Varanasi or Jaunpur. Kishen had turned down the proposal, saying he had no plan to join politics and would concentrate on his acting career.

His move is also being seen as a counter to Samajwadi Party's decision to field popular Bhojpuri actor Manoj Tiwari from Gorakhpur constituency.

Political parties are on a scouting spree for Bhojpuri actors, as they are supposedly helpful in wooing a large number of voters in eastern Uttar Pradesh, who speak Bhojpuri.

0 comments »

Killing of UN diplomat John Solecki

Posted by sandip lakhani

On the day of 2 February 2009, Gunmen kidnapped an American national working for the United Nations High Commissioner for Refugees, after killing his driver in the southwestern Pakistani city of Quetta, on Monday. After 20 days  suspense hung over the fate of American United Nations diplomat John Solecki who was kidnapped in Pakistan's Balochistan province with an unidentified caller claiming that he had been killed, and hours later the Baloch group which had abducted him saying he was alive. 

An unidentified caller had telephoned the Quetta Press Club to claim that Solecki had been killed by his abductors. The caller also said that his body would be brought to Quetta Press Club after two hours.

However, a spokesman for the Balochistan Liberation United Front, the group that kidnapped Solecki, later called media persons in Quetta and told them that the UN official was safe. He denied the report that Solecki had been killed.

The BLUF spokesman said medical facilities were being provided to the ailing Solecki. He also said no harm had been caused to Solecki.

Officials said they were investigating the anonymous call to the Press Club, which was traced to Noshki, a district located 250 km west of Quetta and near the Pakistan border with Afghanistan.

Solecki, who heads the United Nations High Commissioner for Refugees office in south-western Balochistan province, was kidnapped on February 2 by gunmen who killed his driver. The hitherto unheard of BLUF claimed responsibility for the abduction. 

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20
Feb

Sanjay Dutt and Election

Posted by sandip lakhani

Three crore van for Sanjay Dutt’s election camp

Samajwadi party is leaving no stone unturned for their star candidate Sanjay Dutt’s campaign plans. They have arranged an extremely luxurious bus worth a whopping Rs. 3 crore for him to travel around Lucknow for campaigning in his constituency.

A source reveals, “Since the Loksabha elections are taking place close the summer  season, and Sanjay Dutt has to campaign through the whole of Lucknow and its adjoining areas, it was necessary that he would do so in the most comfortable way. It is his first election and it would end up being very tiresome for him. Therefore a Rs. 3 crore luxury Volvo caravan fully equipped with a shower and a toilet is being readied for him. This luxury cruise caravan is being built on an original Volvo chassis and is complete with all the comforts of a home.”

Revealing more about the luxurious caravan van the source further added, “The front section will have an office lounge. The central section will have a bar and a setup which will house many DVDs, a play station and computers. The bus has been designed by D. C. Designs Pvt. Ltd. under Dutt’s guidance and took nine months in the making. It will be delivered to Sanjay very soon.” 

1 comments »
19
Feb

Azharuddin and Politics

Posted by sandip lakhani in , , , ,


Match Fixer Azharuddin also came in politics

Former Indian cricket captain Mohammad Azharuddin is all set to join the Congress Party.

The All India Congress Committee (AICC) General Secretary Veerrappa Moily, in an interview to Times Now declared on Thursday that Azharuddin would be given primary membership in the party.

However, they are still to decide the constituency from where he will contest the forthcoming Lok Sabha elections.

Justifying his induction in the Congress despite his involvement in the match-fixing case, Moily said, "There is no criminal case against Azhar. If there is a case at all, then it is only between the BCCI and him, which has been filed by Azhar himself against the ban."

"Remember, he served Indian cricket for nine years as a captain with outstanding performance. He has filed a case against the ban imposed by the BCCI and that is not a criminal matter," he added.

Moily's declaration came after Azharuddin had a late evening meeting with some of the senior party leaders on February 18.

There were speculations about the former cricketer joining politics since January 20, when he expressed his interest to contest elections 'from a prestigious seat'.

He had verbalised his interest in front of Congress President Sonia Gandhi, according to sources.

There were rumours last February, when Azharuddin had lunch with Telangana Rastra Samiti President K Chandrasekhar Rao, that he may campaign or contest elections for the Telangana Rastra Samiti in the Greater Hyderabad Municipal Corporation polls.

Later on January 22, Azharuddin's plans became all the more apparent when he had a long meeting with Moily, Chief Minister Y S Rajasekhar Reddy and PCC president D Srinivas in Hyderabad.

In 1991 he was named 'Wisden Cricketer of the Year'. BUT………….However, towards the end of his career, Azharuddin was accused of match fixing and banned from playing by the BCCI. Because This is one and only field where more progress for corrupted people. Jaaaaago…….India………Jaaaaaaaago.

1 comments »
18
Feb

PART-3 PRE-BUDGET 2009-10

Posted by sandip lakhani in

Sector: Oil and Gas

Particulars: Tax Holiday for gas production

Current Status: There is 7 year tax holiday on oil production but there is no clarity on gas production

Proposed measures: 7 year tax exemption also given for the gas production

Impact (on sector & major stocks): Positive for Reliance Industries, ONGC and Cairn India.

Sector: Real Estate

Particulars: Interest deduction on housing loan

Current Status: Rs 1.5 Lakh

Proposed measures: Rs 2-2.5 Lakh

Impact (on sector & major stocks): Positive To stimulate demand from housing sector

Particulars: Concessional housing loan

Current Status: up to Rs 20 lakh

Proposed measures: up to Rs 30 lakh

Impact (on sector & major stocks): To stimulate demand from housing sector

Sector: Textile

Particulars: Repayment of term loans

Current Status: Currently moratorium is available for initial 1-2 years

Proposed measures: 2 year moratorium on repayment of term loans

Impact (on sector & major stocks): Companies with high debt like Alok Industries, Bombay Rayon Fashions, Vardhman Textiles, Welspun India would benefit

Particulars: Repricing of cotton

Current Status: Domestic prices higher than international prices

Proposed measures: Align domestic cotton price with international price

Impact (on sector & major stocks): Companies using cotton as raw material like Alok Industries, Bombay Rayon Fashions, Vardhman Textile, Welspun India would benefit

Particulars: Withdrawal of excise duty on manmade fibers

Current Status: 4%

Proposed measures: 0%

Impact (on sector & major stocks): Positive for most of the players in the manmade fiber segment

Particulars: Incentives to exporters

Current Status: 2%

Proposed measures: Align Restoration of 4% interest rate subsidy on bank loans of exporters

Impact (on sector & major stocks): Positive for exporters

Sector: Telecom

Particulars: License charges on revenue share basis

Current Status: There 10% of AGR adjusted gross revenue) in metros and A category circles, 8% of AGR in B category and 6% of AGR in C category circles.

Proposed measures: Single levy of 6% of AGR in all the circles.

Impact (on sector & major stocks): Bharti Airtel, Idea Cellular, Rcom, Spice Communications and MTNL

1 comments »

PART-2 PRE-BUDGET 2009-10

Posted by sandip lakhani in

Sector: Media

Particulars: Service tax (Broadcasting)

Current Status: 12.24% service tax is levied on Broadcasters and not on the print media companies

Proposed measures: Services Tax to be in line with the print media for broadcaster. However, we do not expect any changes.

Impact (on sector & major stocks): Benefit for all the broadcasting companies like ZEE Entertainment,TV18, Sun TV

Particulars: Service tax (Multiplexes)

Current Status: 12.36% services tax is levied.

Proposed measures: Removal of 12.36% services tax or allowed to set off against sales tax. We expect this to remain unchanged

Impact (on sector & major stocks): Benefit PVR, INOX, Cinemax, Fame.

Particulars: Custom Duty Current Status: 12.5% duty charged on Broadcasting equipments

Proposed measures: To be eliminated. We expect this to reduce.

Impact (on sector & major stocks): WWIL, Dish TV

Sector: Metals

Particulars: Import duty on steel

Current Status: Import duty of 5% on finished steel products

Proposed measures: Hike in import duty to 15% for flat products and 10% on long products

Impact (on sector & major stocks): Domestic steel producers would benefit on better demand and sales prospects. JSW Steel, Tata Steel would be major beneficiaries

Particulars: Import duty on non- ferrous metals

Current Status: Import duty of 5% on aluminum and zinc and 3% on copper

Proposed measures: Hike in import duty up to 10% for aluminum and zinc and up to 5% on copper

Impact (on sector & major stocks): Domestic non-ferrous metal producers would benefit. Major beneficiaries: NALCO, HINDALCO, Sterlite Industries, Hindustan Zinc etc.

Particulars: Impacts from measures on real estate and automobiles

Current Status: Present tax exemption of 1.5 lakhs on home loan; Excise duty of 12% and 20% different automobile categories

Proposed measures: Tax exemption is likely to be hiked to 2-2.5 lakhs; Excise duty is likely to be cut to at least 10% and 16% on different automobile categories

Impact (on sector & major stocks): Indirect positive impact on metal companies regarding Improvement in demand

Sector: Power

Particulars: Depreciation Proposed measures: Accelerating the rates of depreciation in the initial years

Impact (on sector & major stocks): Accelerated depreciation to provide tax savings to companies incurring capex, thereby providing additional incentive to the sector.

Particulars: Benefit under Section 80IA

Current Status: Benefit to the projects starting till March 2010

Proposed measures: Extension of the deadline

Impact (on sector & major stocks): Will increase the investments in the sector. The new proposals
sanctioned will take around three to five years to commence operations.

Particulars: Allocation from the Government

Proposed measures: To hike its allocation to stateowned power companies NTPC, NHPC and Power Grid Corp

Impact (on sector & major stocks): Will lead to increased spending by the power companies.

0 comments »
16
Feb

PRE-BUDGET 2009-10

Posted by sandip lakhani in



The government is presenting the Vote-on-Account (more like an interim budget) on 16th of Feb, 2009. This is to take the approval of the parliament to withdraw money from the consolidated central government fund to meet expenditures till the elections are over and the new government takes over. This being the last budget of the out-going government before the election commission announces the date for general elections; the government may announce populous measures. But the government may refrain from making any drastic policy changes. Limited revenues and rising expenditures leave little room for the government to go for more fiscal stimulus in terms of higher spending. Continuing the measures in the previous few years’ budgets, infrastructure investment and employment generation may continue to get higher thrust. But as the government may refrain from making any policy decision changes, it may focus on consolidating the earlier announced measures as well as boosting the reeling sectors. Moreover, the government may also tweak the indirect taxes (excise and customs duty) for various sectors as they don’t require the parliament approval and can be changed at any time.

Sector specific expectations:

Sector: Auto

Particulars: Excise duties

Current Status:

• 12% on small cars (length not exceeding 4,400 mm and engine capacity not exceeding 1,200 petrol (petrol, LPG and CNG) /1,500 cc (diesel)
• Big cars - 20%
• Two- Three wheelers -12%

Proposed measures:

• Cut in excise duty to 10%
• Cut in excise duty to 16%
• Cut in excise duty to 10%

Impact (on sector & major stocks):

• Push the demand for vehicles.
• Demand driver
• Support demand growth

Sector: Banking

Particulars:

• Income tax on Interest income from banks, exemption limit to be reimposed
• Raising limit of tax exemption on interest payment of housing loans

Current Status:

• No exemption on income tax is there in current status
• Current limit – Interest payment-Rs150000

Proposed measures:

• To reinstate Rs.12000 - Rs.15000 of exemption in interest income from taxation
• Expected limits to increase deduction of Rs.150000 to Rs 200000 or Rs.250000

Impact (on sector & major stocks):

• Will help banks to garner more deposits and mange asset liability mismatch as currently with term deposits are falling continuously making them less attractive going forward All banks to benefit
• Beneficial for housing finance companies, banks as credit demand for housing will rise and as real estate demand is again restored, rising risk of NPA's is less. Stocks- HDFC, LIC Housing Finance & large banks like SBI to benefit.

Sector: Cement

Particulars: Excise duties

Current Status: 8% on MRP Big cars - 20%

Proposed measures: Abatement on MRP for calculating Excise duty

Impact (on sector & major stocks): The benefit is likely to be passed by cement industry in medium term by reducing cement prices

Particulars: Import duty

Current Status: Nil

Proposed measures: Re imposition of Import duty

Impact (on sector & major stocks): To benefit north Indian cement co.

Sector: Hotels

Particulars: Inclusion of hotel Industry under infrastructure sector

Current Status: Currently Hotel projects are considered as "Real Estate" rather than "Infrastructure projects"

Proposed measures: Hotels to be given "Infrastructure" status under Sec 80-IA of Income Tax Act.

Impact (on sector & major stocks): This would enable hotels to access cheaper debts.

Particulars: Tax Holidays

Current Status: Tax holidays is currently available u/s 80-ID for new hotel projects of a particular category and is valid for Delhi-NCR to boost common wealth games infrastructure

Proposed measures: Extend the benefits of the section 80-ID to other parts of India

Impact (on sector & major stocks): Will be beneficial for all Hotel projects in India

Particulars: Service Tax on tour packages

Current Status: Currently 12.5% of service tax is levid on tour packages

Proposed measures: Reduction / cancellation of service tax on tour packages

Impact (on sector & major stocks): Will make Indian tour packages more competitive in term of price compared with other south Asian destination, which would help in boosting tourism business in India.







0 comments »
13
Feb

Indian general election, 2009

Posted by sandip lakhani in , , , , , , ,




India will hold general elections to the 15th Lok Sabha by May 2009.

Elections in India for the Lok Sabha (the national parliament) must be held at least every five years under normal circumstances; with the last elections held in 2004 elections will take place by May 2009. India's Chief Election Commissioner, N. Gopalaswami, stated on December 28th, 2008, that he expects elections to be held between April and May of 2009. He attributed this schedule to the examination period from February to March, making polling places unavailable. On January 28th, 2009, Election Commissioner Dr. S.Y. Quraishi announced that the elections would be held between April 8th, 2009 and May 15th, 2009, though the exact polling dates would only be announced in due course.

Poll Alliances

United Progressive Alliance - Formed in 2004, has headed India's government under the current term.

* Indian National Congress
* Rashtriya Janata Dal
* Dravida Munnetra Kazhagam
* Nationalist Congress Party
* Jharkhand Mukti Morcha
* Jammu and Kashmir National Conference
* Samajwadi Party
* Pattali Makkal Katchi (PMK)

National Democratic Alliance - Formed in 1998, headed India's last two governments and is the main opposition.

* Bharatiya Janata Party
* Shiv Sena
* Biju Janata Dal
* Shiromani Akali Dal
* Janata Dal (United)
* Asom Gana Parishad
* Rashtriya Lok Dal
* Indian National Lok Dal
* Nagaland Peoples Front
* Manipur People's Party
* United Democratic Party

Third Front - General seat-sharing agreement between Leftist and other regional parties.

* Communist Party of India (Marxist)
* Communist Party of India
* Telugu Desam Party
* Marumalarchi Dravida Munnetra Kazhagam
* All India Forward Bloc
* Janata Dal (Secular)
* Revolutionary Socialist Party
* Telangana Rashtra Samithi
* Kerala Congress (Joseph)

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Part 2 - Dr. Manmohansingh V/s Asif Ali Zardari

Posted by sandip lakhani in ,


Dr. Manmohansingh
Working Experience [INTERNATIONAL ASSIGNMENTS] :

1966: Economic Affairs Officer
1966-69: Chief, financing for trade section, UNCTAD
1972-74: Deputy for India in IMF Committee of Twenty on International Monetary Reform
1977-79: Indian delegation to Aid-India Consortium Meetings
1980-82: Indo-Soviet joint planning group meeting
1982: Indo-Soviet monitoring group meeting
1993: Commonwealth Heads of Government Meeting Cyprus 1993: Human Rights World Conference, Vienna

Asif Ali Zardari
Working Experience [Politics]:

1988-1990: Husband of the Prime Minister
1993–1996: Minister of Environment during his wife's second term as the Prime Minister
Un till 1999: Senator
30 December 2007: Appointed himself as the co-chairman of the PPP, along with his son Bilawal Bhutto Zardari
September 9, 2008: Zardari was elected president of Pakistan . Sworn in by Abdul Hameed Dogar, whose position as the Chiefe Justice of Pakistan remains a contested issue by an overwhelming majority of the Pakistani legal fraternity.

Dr. Manmohansingh
Working Experience [Government Positions]:

1971-72: Economic advisor, mini stry of foreign trade
1972-76: Chief economic advisor, mini stry of finance
1976-80: - Director, Reserve Bank of India; Director, Industrial Development Bank of India;
- Alternate governor for India , Board of governors , Asian Development Bank;
- Alternate governor for India, Board of governors, IBRD
- November 1976 - April 1980: Secretary, mini stry of finance (Department of economic affairs);
- Member, finance, Atomic Energy Commission ; Member,finance, Space Commission
April 1980 - September 15, 1982: Member-secretary, Planning Commission
1980-83: Chairman, India Committee of the Indo-Japan joint study committee
September 16, 1982 - January 14 , 1985: Governor, Reserve Bank of India..
1982-85: Alternate Governor for India, Board of governors, International Monetary Fund
1983-84: Member, economic advisory council to the Prime Minister
1985: President, Indian Economic Association
January 15 , 1985 - July 31, 1987: Deputy Chairman, Planning Commission
August 1, 1987 - November 10, 1990: Secretary-general and commissioner, south commission, Geneva
December 10 , 1990 - March 14, 1991: Advisor to the Prime Minister on economic affairs
March 15, 1991 - June 20, 1991: Chairman, UGC
June 21, 1991 - May 15, 1996: Union finance mini ster
October 1991: Elected to Rajya Sabha from Assam on Congress ticket
June 1995: Re-elected to Rajya Sabha
1996 onwards: Member, Consultative Committee for the mini stry of finance
August 1, 1996 - December 4 , 1997: Chairman, Parliamentary standing committee on commerce
March 21, 1998 onwards: Leader of the Opposition, Rajya Sabha
June 5, 1998 onwards: Member, committee on finance
August 13, 1998 onwards: Member, committee on rules
Aug 1998-2001: Member, committee of privileges 2000 onwards: Member,
executive committee, Indian parliamentary group
June 2001: Re-elected to Rajya Sabha
Aug 2001 onwards: Member, general purposes committee
2004: Prime Minister of India

Asif Ali Zardari
Working Experience [Other]:

Other experience of Mr Zardari includes his widely believed but not proven involvement in
- Several murders - most famously of his brother in law, possibly his wife
- Wrapping a bomb to the leg of a famous UK businessman to ask for money
- Embezzlement & looting of Billions of Pakistan's wealth

Dr. Manmohansingh
BOOKS:

India's Export Trends and Prospects for Self-Sustained Growth -Clarendon Press, Oxford University , 1964;
also published a large number of articles in various economic journals .

Asif Ali Zardari
BOOKS:
None on record

Dr. Manmohansingh
ACCOMPLISHMENTS:

Adam Smith Prize , University of Cambridge, 1956
Padma Vibhushan , 1987
Euro money Award, Finance Minister of the Year, 1993;
Asia money Award, Finance Minister of the Year for Asia , 1993 and 1994

Asif Ali Zardari
ACCOMPLISHMENTS:

Marrying the then future and now ex (RIP) Prime Minister of Pakistan
Only serving politician to have spent 10 years in Jail
Told the US VP Candidate that she is "gorgeous" and said : "Now I know why the whole of America is crazy about you". When the photographers asked the two to keep shaking hands, he replied : " If he insists, I might hug you". This was one day after the President delivered an emotional speech at the UN in new York waiving a photograph of his deceased wife only months after the murder of his wife.





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11
Feb

Dr. Manmohansingh V/s Asif Ali Zardari

Posted by sandip lakhani in ,


Here I compare the talent of Indian Prime minister Dr. Manmohan Singh and Pakistan president Asif Ali Zardari. And I remark two possibilities first one, all Pakistanis are blind who elect every time such types of Leaders and second one is, there are no democracy in Pakistan, I hope you will also select second option because first one is nearly impossible thing. Comparison is as under, please read it carefully.

Dr. Manmohansingh
Chief Executive of India
Title: Prime Minister
Name: Dr Manmohan Singh
Asif Ali Zardari
Chief Executive of Pakistan
Title: President of Pakistan
Name: Asif Ali Zardari

Dr. Manmohansingh
EDUCATION /Qualification:
1950: Stood first in BA (Hons), Economics, Punjab University, Chandigarh,
1952; Stood first in MA (Economics), Punjab University, Chandigarh,
1954; Wright's Prize for distinguished performance at St John's College, Cambridge,
1955 and 1957; Wren bury scholar, University of Cambridge,
1957; DPhil (Oxford), DLitt (Honoris Causa); PhD thesis on India's export competitiveness

Asif Ali Zardari
EDUCATION /Qualification:

High School from Cadet College Petaro Details of higher formal education not known; Claims graduation from London but not available to be verified. As per some account. His official biography says he attended a commercial college called Pedinton School. But a search of tertiary educational institutions in London showed no such school.

Dr. Manmohansingh
Working Experience [Teaching]

Professor (Senior lecturer, Economics, 1957-59;
Reader, Economics, 1959-63;
Professor, Economics, Punjab University, Chandigarh, 1963-65;
Professor, International Trade, Delhi School of Economics, University of Delhi , 1969-71;
Honorary professor, Jawaharlal Nehru University, New Delhi, 1976 and Delhi School of Economics, University of Delhi,1996 and Civil Servant
Working Experience [INTERNATIONAL ASSIGNMENTS] :

1966: Economic Affairs Officer
1966-69: Chief, financing for trade section, UNCTAD
1972-74: Deputy for India in IMF Committee of Twenty on International Monetary Reform
1977-79: Indian delegation to Aid-India Consortium Meetings
1980-82: Indo-Soviet joint planning group meeting
1982: Indo-Soviet monitoring group meeting
1993: Commonwealth Heads of Government Meeting Cyprus 1993: Human Rights World Conference, Vienna

Asif Ali Zardari
Working Experience:

Early days: Working at the family owned Bambino Cinema at Karachi. Some accuse Mr. Zardari of small-time ticket frauds to steal money from the family business.
Up till 1987 (marriage to the future Prime Minister, Benazir Bhutto): No record.
1988 to date: While no official record of any business exists, Mr. Zardari is widely believed to be one of the (if not the) richest man in Pakistan. An unofficial list of family owned businesses, property and accounts exists but the completeness of the same cannot be verified. Mr. Zardari has however been involved in various national and international cases relating to his businesses. The most significant European cases are a Swiss money-laundering inquiry and British civil cases.



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