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Wednesday, September 26, 2012

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For Cong money grows on 2G, Coalgate trees: Modi

Dahod: Taking a jibe at Prime Minister Manmohan Singh for his "money does not grow on trees" remark, Chief Minister Narendra Modi Saturday alleged that for the Congress, 2G scam and Coalgate have become money trees. "How can a great economist like him try to convince the people in such a language? PMji, people of this country know that money doesn't grow on trees," he said while addressing a gathering at Vivekanand Youth Convention, held in this tribal city. "We also know that 2G spectrum is money tree for you, Coalgate is money tree for you. Which other bigger rupee-tree you need other than your dealing in coal," he asked. "I am directly alleging that the Congress party has made 2G spectrum and Coalgate, their money tree and its ruining our country," he said. Singh yesterday in his address to the nation had made an appeal while explaining the reasons behind the decisions of price hike in diesel and allowing FDI in multi-brand retail. He had said, "Money doesn't grow on trees. If we had not acted, it would have meant a higher fiscal deficit." Chief Minister also offered few sops in the form of irrigation project, setting up of an institute for skill development in roads and building construction and shelters in the city areas for tribals who migrate there for work. "Government will build a 650-km long pipeline of Narmada Canal connecting Vadodara-Panchmahals-Dahod at the cost of Rs 3,500 crore, covering 700 villages and this will provide irrigation benefits to land area of more than two lakh acres of this tribal belt," he declared. Modi further said that in the last 10 years, he has worked hard for development of tribal belts in the state and promised to develop the area as industrial hub.

Wednesday, September 12, 2012

Modi launches poll campaign, raises coal issue

Modi begins poll campaign, wants Cong-free Gujarat Mehsana: Launching a month-long campaign ahead of assembly elections, Gujarat Chief Minister Narendra Modi Tuesday raised the coal issue, accusing the Congress of whipping up an atmosphere of anger against the CAG like it did against the Supreme Court in the 2G case. Seeking yet another term, Modi also sought to put CBI in the dock by alleging that the Congress was contesting the polls along with the investigating agency. Giving signals that he would fight the coming polls on the plank of "injustice meted out to Gujarat", Modi appealed to the people to work towards 'Congress-free Gujarat' on the lines of 'gutka-free Gujarat' to wipe out "cancer". Addressing a gathering near Becharaji on the first day of his month-long Vivekanand Yuva Vikas Yatra, Modi said the Congress has the habit of targeting constitutional authorities by creating an atmosphere of anger against those who do not toe its line. The Prime Minister and the Congress are doing the same to the CAG what late Indira Gandhi used to do, he alleged. He said on the 2G issue, Congress leaders had adopted a similar stance towards the Supreme Court. Now, the CAG's credibility is being questioned by the Prime Minister and his colleagues. The Gujarat Chief Minister also utilised the occasion to ridicule state Congress leaders for their pleas to the people to oppose him during his yatra. "Are you so scared that you won't listen to my voice. Do you want Sonia Gandhi and the Prime Minister to face similar opposition when they come here," he said. He said in a democracy everyone had a right to place his or her views. Taking a dig at local Congress leaders, he said his government would extend all possible support for them to place their views before public. Blaming the UPA government for the economic situation, he said the Prime Minister should follow the Gujarat model of development.

Sensex rises above 18,000 as markets end near 7-month high

HSBC cuts Indian stocks to underweight from neutral The BSE Sensex closed above the 18,000 mark for the first time since February 23, 2012 amid a global rally that also saw the rupee gain sharply against the dollar. This was the sixth straight day of gains for the Sensex. Domestic stocks tracked a global rally Wednesday after Germany's top court backed the legality of the euro zone bailout funds, although with conditions. German approval of the ESM was crucial to boost the euro zone's crisis fighting powers and a key requirement for the European Central Bank's new plan to buy the bonds of struggling euro members. Many analysts expect the Fed will announce a new effort to revive the sluggish US economy on Thursday, which added to bullish sentiments on the Street. Markets shrugged off weak July factory output data, which indicated that the broader economic activity remains weak. The Sensex gained 147 points or 0.82 per cent to end at 18,000 while the 50-share Nifty advanced 41 points to 5,341. Metal stocks led the gains, rising over 2 per cent on the BSE. Auto and capital goods stocks also saw buying interest, rising above 1 per cent. On the Nifty, 35 of the 50 stocks traded higher. Gains were led by Tata Motors, which jumped 5.4 per cent. Shares in private steel maker JSPL, which have fallen over 20 per cent since the CAG report on coal was tabled in Parliament on August 17, rallied 3.9 per cent. State-run steel maker SAIL also closed with over 3 per cent gains on the Nifty. Among the losers, engineering major Siemens India declined 2.7 per cent after its parent sold a 1.2 per cent stake in a deal that could raise up to $50 million. Drug maker Cipla and state-run power producer NTPC closed with over 2 per cent losses. Among other stocks, domestic carrier SpiceJet soared 7 per cent after the Civil Aviation Minister said he was hopeful of foreign direct investment being allowed in India's airlines. Under the current rules, foreign airlines are barred from buying stakes in domestic carriers, although foreign investors are allowed to hold a cumulative 49 percent. SpiceJet was the top traded stock on the BSE 500. Debt laden Kingfisher Airlines gained nearly 8 per cent. The market breadth was positive with over 54 per cent stocks rising on the broader BSE 500. NDTV

Saturday, September 8, 2012

Pre-paid mobile numbers to lose ISD facility soon

New Delhi: Telecom regulator TRAI has asked telecom companies to de-activate the international calling facility in pre-paid numbers and restore it only after a subscriber gives his explicit consent to avail this facility. "Inform all pre-paid subscribers having ISD facility, through SMS, within 10 days of the date of issue of this direction, that ISD facility of the subscribers shall be discontinued after sixty days," Telecom Regulatory Authority of India (TRAI) said in a directive to telcos. "If such subscribers want to continue with ISD facility, they should give their explicit consent for availing such facility within 60 days of the receipt of the SMS," it added. TRAI has issued this directive following complaints from consumers about missed calls from international telephone numbers which are often premium numbers charging high tariff, prompting the consumers to make call to such numbers. TRAI said it has also been receiving complaints from consumers about receiving calls and SMSes from international numbers informing them about winning of prizes or lottery and prompting consumers to call a particular number to claim the prize or lottery money. "These numbers are international numbers, which are often premium numbers charging higher tariffs. By responding to such calls/SMS the consumers have to pay unintended charges," Trai said. The regulator has asked telecom operators to inform subscribers through SMS, within 10 days of the direction, that pre-paid cellular mobile telephone service consumers need not respond to all missed calls from unknown international numbers or calls about winning prizes or lottery. Trai has asked telecom service providers to send such SMS to consumers every six months and provide easy and transparent opt-in and opt-out facility to the consumers of the cellular mobile telephone service for activation or deactivation of ISD facility. Press Trust of India

Air India's first Dreamliner arrives after 4-year wait

New Delhi: Amidst much fanfare, Air India's first Boeing 787 Dreamliner arrived in the national capital Saturday, ending a four-year wait. Air India is the fifth airline to receive the fuel-efficient and eco-friendly aircraft. Among its other operators are All Nippon Airways and Japan Airlines. 'The first aircraft reached Delhi in the evening and was inspected by the airlines' chairman. Flight schedule and crew training of the aircraft will be decided soon,' a senior Air India official told IANS. According to the official, 28 crew members of Air India accompanied the aircraft which landed at 4.55 p.m. after which some religious rituals were performed for inducting the aircraft into the airline's fleet. The airline's technical team was in the US to take the delivery of the Dreamliner at Charleston in South Carolina Thursday. Air India Chairman and Managing Director Rohit Nandan said the new aircraft will allow the airline to operate on new routes and enable it to save fuel cost. 'The 787 aircraft will allow Air India to open new routes in a dynamic marketplace and provide the best in-flight experience for our passengers,' Nandan said. The 787 has the range and capability to allow Air India to deploy it on many routes including the Middle East, Europe, Asia and Australia. The aircraft arrived after the cabinet committee on economic affairs (CCEA) approved the the delay-compensation settlement agreement with Boeing, allowing the civil aviation ministry and the flag carrier to take delivery of 27 Boeing 787 aircraft. Air India had booked 27 Boeing 787s in 2006 in a mega deal. The carrier was to get the delivery in May 2008, but that got pushed forward for a variety of reasons, including manufacturing delays. The aircraft were scheduled to be delivered from September 2008 to October 2011. But due to certain design and production issues, these were delayed and rescheduled to be delivered between June 2012 and March 2016. The airline plans to deploy the 787 Dreamliner aircraft on domestic routes to save on fuel, train the crew and add flexibility in its winter schedule by flying out to select domestic and overseas destinations. 'A key feature of the aircraft is fuel saving. It consumes 20 percent less fuel than other aircraft. The proposal to deploy the aircraft on domestic routes will help us save on high jet fuel cost,' the official said. The Boeing 787 aircraft is made of composite materials. Its newly-developed engine and advanced flight technologies make it highly fuel-efficient. The plane can fly up to 16,000 km non-stop.

The nation's economy is going wayward - BJP warns in 2011

Manmohan Singh on silent mode: BJP Saturday, July 2, 2011 Jul 2: The BJP on Friday, Jul 2 criticised Prime Minister Manmohan Singh for being on a "silent mode" on issues confronting the country saying it is under this noted economist that the nation's economy is "going wayward". The party's national spokesperson Rajiv Pratap Rudy said that the prime minister is always on a silent mode and has failed to speak up on burning issues such as price rise and corruption. "Even if he would have been on a vibration mode, the nation might have benefited in some manner," Rudy told reporters here. Continuing his dig at Singh, Rudy said, "The prime minister speaks when his pause button is released from 10, Janpath or the Congress Working Committee." The BJP spokesman said it was sad that "it is under this noted economist that the nation's economy is going wayward. A man who is an economist of the highest order has chosen to unleash the terror of inflation on the country". Comparing Singh with former BJP prime minister Atal Behari Vajpayee, Rudy claimed, "Vajpayeeji's speeches inspired the entire nation. But the present prime minister chooses to be on a silent mode."