While extreme type of naxal violence at Dantewada resulting in brutal killing of 76 CRPF personnel by laying an ambush still agitates the nation’s mind, Supreme Court is engaged on working out a rehabilitation plan in naxal related operations where even victims of security forces and state sponsored Salwa Judum activists may also be entitled to compensation and redressal of their grievances.
The plan may amount to mainly creating a forum to be headed by a retired judge or a senior civil servant for restoring civil administration in troubled areas that may help bring about reconciliation to a much complicated problem that intricately involves crushing the cadres of an unlawful naxal organization still engaged in armed activities (or struggle) against the state, protecting the tribals and villagers deprived of their forest rights, creating development activities in the said areas so that innocent people desist from ignorantly falling prey to the games of this criminal organization.
Published 11/05/2010
http://samaylive.com/english/nation/articles/676463808.htm
But apart from tackling the said aspects of the problem ,any mid-way halting of operation Green Hunt may result in unwanted escalation of the violence related activities of the Naxals, besides giving undesirable messages about the governments intend in this regard.Naxal attacks on police personnel and police stations carry the additional aims of striking terror in the mind of the populace and plundering the arms, ammunition and weaponry of the police force that also helps them in enlarging their area of unlawful activities. How serious this problem can grow, one has only to see the situation in Nepal across our borders. Though the naxals pretend to cater to the economic and political interests of the underprivileged , their ambitions in fact centre around seizing power through armed means.
There is thus every reason to toughen the national resolve to crush this violence ruthlessly. Colonel Anil Athale who led a team to study the naxal problem in Chhattisgarh in July 2006 tells that naxalities were having an upper hand in facing the ill-equipped police forces. Thus a large number of innocent tribals joined the naxal ranks, seeing them to be on the wining side. Further the “deterrent” effect of government action against violence should not be diluted by making prior declarations about limitations on use of armed forces but government should rather make the option of deploying armed forces open, if necessary.
This may also wean away a large portion of sympathizers that may lower the morale of naxal rank and file.
A clear cut strategy to “isolate, contain and disarm/destroy” the naxal may have to be adopted. Naxalites are known to collect money through extortions and imposing illegal taxes. This may have to be tackled by tightening up the law and order management.Even limited shifting of villagers out of the combat zones should also be considered before full force is deployed to disarm/ destroy the naxals, if found necessary.
This cancerous growth has been spreading rapidly throughout the length and breath of the country and currently has acquired alarming presence in areas of Andhra Pradesh , Chhattisgarh , Jharkhand , Bihar, West Bengal and some parts of North East Region. With Mao’s problem in the neighbouring Nepal having already assumed serious proportions, a timely major action against the naxalities is all the more necessary.
Prime Minister has rightly described Naxalism as the greatest internal threat facing the country. The overall picture in tackling the naxals in Chattisgarh, where 8 CRPF personnel were killed in mine blast on 8th May as well as in other parts of the country look most grim. Any laxity in giving a proper response on suitable scale even by involving the armed forces and air strikes when reports of vast forest areas having been ‘mined’ may prove to be costly to the nation.
ublish
May 15, 2010
Britain election:Labour party fated to exit power
The outcome of the coming 6th May Britain election remains unpredictable, while the three parties viz-left wing Labour Party headed by current Prime Minister Gordon Brown,the conservative Party (also called the Tories) headed by David Cameron and the normally distant third Party Liberal Democrat (Lib-Dem) that usually attracted the lowest 20-22% of popular votes headed by Nick Clegg aggressively vie for power mainly on economic and immigration issues that exercise the mind of the voters.
But this election may prove to be historic , as it is likely to mark the end of 13 years of labour Party rule.But more importantly it may bring about a new power sharing deal, with usually the third force Lib-Dem prominently holding the balance of power.
With a major surge in its poll ratings in the televised debate of 15th April , the party had been virtually dictating terms of its tie-up with other parties in the event of a hung parliament .It even talks of the possibility of tie up with the labour only if the latter drops Brown. At another point of time , it declared that it would tie-up only with that party which secures maximum percentage of mandate.But, with the third and the last televised show dated 29th April, the focus shifts from economics to immigration giving advantage to Cameron though the poll fortunes of the parties might further change in the last few days before lections.
Sensing a prominent position in a hung parliament, Lib Demo leader Nick Clegg laid down “electoral reform” as the key point of negotiation for a tie-up after the election.Stressing the present system of first-past-the –poll system as unfair and discriminatory against the smaller parties,he illustrates the flaw by quoting his party’s fate under this flawed system in the 2005 election.Though his party was able to capture 22% of the popular votes, it only won 9% of the seats. Thus, stressing for electoral reform,he argues that too many votes are wasted in safe seats, where either labour or conservatives have large, in built, majorities and this depresses turn out. Resultantly, results hinge on the preferences of a small number of voters in a handful of swing constituencies .This has initiated a public debate on the issue and electoral reform may take place before the next election.But it may also stir up voters consciousness even in this election.
A host of issues already weigh against the Labour party :its not so good performance in the current economic crisis compared to other developed countries,Tony Blair’s rather blind support of US war on Iraqi , a lackluster poll leadership of Gordon Brown, Lib-Demo’s condition for tie-up after poll only without Brown, Brown’s poll gaffe calling voters as ‘bigoted’ , its having lost connect with the youth and thus going out of fashion overwhelmingly mar its chances of returnings to power.Lib Dems that support cutting taxes , greater devolution of power to the local governments, moderate stance on immigration look better placed. But with conservatives prospects
On the up-swing during the last televised debate, the prospects of a conservative-Lib Dem coalition could also emerge.
Chances of a minority conservative government with support of Lib-Dem can not be ruled out .But the chances of a coalition breaking up later or the likelihood of minority government losing power subsequently may result in fresh elections that may have grave consequences for the just rising Lib-Dem party.
Published (02/05/2010)
http://samaylive.com/english/nation/articles/676463155.html
But this election may prove to be historic , as it is likely to mark the end of 13 years of labour Party rule.But more importantly it may bring about a new power sharing deal, with usually the third force Lib-Dem prominently holding the balance of power.
With a major surge in its poll ratings in the televised debate of 15th April , the party had been virtually dictating terms of its tie-up with other parties in the event of a hung parliament .It even talks of the possibility of tie up with the labour only if the latter drops Brown. At another point of time , it declared that it would tie-up only with that party which secures maximum percentage of mandate.But, with the third and the last televised show dated 29th April, the focus shifts from economics to immigration giving advantage to Cameron though the poll fortunes of the parties might further change in the last few days before lections.
Sensing a prominent position in a hung parliament, Lib Demo leader Nick Clegg laid down “electoral reform” as the key point of negotiation for a tie-up after the election.Stressing the present system of first-past-the –poll system as unfair and discriminatory against the smaller parties,he illustrates the flaw by quoting his party’s fate under this flawed system in the 2005 election.Though his party was able to capture 22% of the popular votes, it only won 9% of the seats. Thus, stressing for electoral reform,he argues that too many votes are wasted in safe seats, where either labour or conservatives have large, in built, majorities and this depresses turn out. Resultantly, results hinge on the preferences of a small number of voters in a handful of swing constituencies .This has initiated a public debate on the issue and electoral reform may take place before the next election.But it may also stir up voters consciousness even in this election.
A host of issues already weigh against the Labour party :its not so good performance in the current economic crisis compared to other developed countries,Tony Blair’s rather blind support of US war on Iraqi , a lackluster poll leadership of Gordon Brown, Lib-Demo’s condition for tie-up after poll only without Brown, Brown’s poll gaffe calling voters as ‘bigoted’ , its having lost connect with the youth and thus going out of fashion overwhelmingly mar its chances of returnings to power.Lib Dems that support cutting taxes , greater devolution of power to the local governments, moderate stance on immigration look better placed. But with conservatives prospects
On the up-swing during the last televised debate, the prospects of a conservative-Lib Dem coalition could also emerge.
Chances of a minority conservative government with support of Lib-Dem can not be ruled out .But the chances of a coalition breaking up later or the likelihood of minority government losing power subsequently may result in fresh elections that may have grave consequences for the just rising Lib-Dem party.
Published (02/05/2010)
http://samaylive.com/english/nation/articles/676463155.html
Political crisis deepens in Thailand
In the grip of a deep political crisis ,Thailand continues to be badly divided between the poor rural people represented by the red shirts and the Peoples alliance for Democracy or the yellow shirts that comprises a loose grouping of royalists, businessmen and the urban middle class .
Currently leaders of the Red shirts have been demonstrating in large numbers in the capital city of Bangkok continuosly for nearly seven weeks ,aggressively demanding new elections that has put the present government of Abhishit Vejjajiva on its wits end.
Since their elected government was ousted by the judiciary paving way for the rise of Prime Minister Abhishit in the year 2008,Red Shirts see the present government as illegitimate .Now the Red Shirt protestors have tactically offered a compromise to the Thai government, this Friday ,saying they would accept dissolution of Parliament in 30 days rather than immediately. This means that they continue with their movement’s agenda for another one month.
The Red Shirts movement gained a political base during Thaksin’s nearly six-year period in power marked by pro-poor policies, though his rule was tainted with corruption. Nonetheless, he won the re-election but was subsequently deposed in September 2006 when army seized power in a bloodless coup while he was away to New York .Later in October 2008, a court sentenced Thaksin ,in absentia ,to two years in jail but he continues to stay abroad evading the sentence.
Thaksin Shinawatra , however continues to remain the inspiration, the symbol and even the leader of the red shirt movement and continued to feed the political consciousness of the country’s poor.The movement has also produced new leaders who continue rousing the crowds with their speeches and steering them with tactical decisions.
The demonstrations have been staged shrewdly, avoiding direct negotiations with the authorities. Government provocations are wisely ignored. The protestors were able to force their T.V channel back on air in a major confrontation in a three-day state of emergency. After government invoked special powers under its Internal Security Act, the protestors promptly changed their venues of protests from government quarters ,to main shopping districts ,then the election commission and then the parliament. That highlighted the effects of the demonstrations and continuously shifted focus from one to yet another spot of prominence.
The woes of this conflict ridden country get further compounded due to lack of an alternative political leadership that could help resolve the situation and work out some kind of reconciliation between the so called warring parties.The interests of the poor cannot be long ignored by the government.The matters have not been sorted out and unduly delayed year after year leading to complications.
Britain, Australia and the united States have recently warned their citizens to reconsider their travel plans to Thailand. Tourism accounts for 6% of the country’s economy .Indonesia has statedly offered its assistance for a dialogue between the conflicting parties as Thai’s troubles could have an impact in the ASEAN region. India having concluded FTA’s with these countries could also have concerns
Published ( 25/04/2010)
http://samaylive.com/english/nation/articles/676462543.html
Currently leaders of the Red shirts have been demonstrating in large numbers in the capital city of Bangkok continuosly for nearly seven weeks ,aggressively demanding new elections that has put the present government of Abhishit Vejjajiva on its wits end.
Since their elected government was ousted by the judiciary paving way for the rise of Prime Minister Abhishit in the year 2008,Red Shirts see the present government as illegitimate .Now the Red Shirt protestors have tactically offered a compromise to the Thai government, this Friday ,saying they would accept dissolution of Parliament in 30 days rather than immediately. This means that they continue with their movement’s agenda for another one month.
The Red Shirts movement gained a political base during Thaksin’s nearly six-year period in power marked by pro-poor policies, though his rule was tainted with corruption. Nonetheless, he won the re-election but was subsequently deposed in September 2006 when army seized power in a bloodless coup while he was away to New York .Later in October 2008, a court sentenced Thaksin ,in absentia ,to two years in jail but he continues to stay abroad evading the sentence.
Thaksin Shinawatra , however continues to remain the inspiration, the symbol and even the leader of the red shirt movement and continued to feed the political consciousness of the country’s poor.The movement has also produced new leaders who continue rousing the crowds with their speeches and steering them with tactical decisions.
The demonstrations have been staged shrewdly, avoiding direct negotiations with the authorities. Government provocations are wisely ignored. The protestors were able to force their T.V channel back on air in a major confrontation in a three-day state of emergency. After government invoked special powers under its Internal Security Act, the protestors promptly changed their venues of protests from government quarters ,to main shopping districts ,then the election commission and then the parliament. That highlighted the effects of the demonstrations and continuously shifted focus from one to yet another spot of prominence.
The woes of this conflict ridden country get further compounded due to lack of an alternative political leadership that could help resolve the situation and work out some kind of reconciliation between the so called warring parties.The interests of the poor cannot be long ignored by the government.The matters have not been sorted out and unduly delayed year after year leading to complications.
Britain, Australia and the united States have recently warned their citizens to reconsider their travel plans to Thailand. Tourism accounts for 6% of the country’s economy .Indonesia has statedly offered its assistance for a dialogue between the conflicting parties as Thai’s troubles could have an impact in the ASEAN region. India having concluded FTA’s with these countries could also have concerns
Published ( 25/04/2010)
http://samaylive.com/english/nation/articles/676462543.html
Kyrgyzstan –US, Russian interests clash
tulip revolutionKyrgyzstan is a country of 5.3 million Turkic speaking muslim people in the strategic Central Asian region, living in dire poverty.The country has also been at times coming under the influence of US and Russia mainly for economic reasons .
But the current unrest was compounded by autocratic and corrupt rule of ex-president Kurmanbek Bakiyev, who fled the capital city of Bishkek and further rumored to have left the country for some unknown place.
The interim government of the country headed by Roza Otunbayeva intends to prosecute the ex-president , there being serious charges of his having illegally transferred $200 million abroad through his close associates .With numerous agreements and conventions of legal assistance ,the authorities consider the probability of prosecuting him quite high.
Ex-president took power in the year 2005 after the Tulip Revolution that almost offered a hope of bringing democracy to the former Soviet Republic.But soon he turned an autocrat with his rule marred by corruption and human right abuses.
Recently Obama courted him to ultimately retain the rights to the military base of ‘Manas’ being used to supply US troops to Afghanistan so crucial at the present juncture. But even more recently Russia had offered Bakiyev sizable amount of aid , in an effort to persuade him to close the said ‘base’.This adds significance to this timely action to bring Kyrgyzstan back to Russian influence.
Kyrgyzstan , however, hosts both a Russian and US military airbase. US forces set up their base in this country when they overthrew the Taliban government in Afghanistan late in 2001 and later used the Manas base to support the current operations in Afghanistan.
How the US and Russia interests compete here can be reckoned from the facts the Kyrgyzstan’s parliament voted in February 2009 to approve the closure of the US base after securing pledges of $ 2 billion in aid and credit from Russia. Washington later agreed to pay $180 million to Kyrgyzstan to keep the base open.
The economy of this impoverished Central Asian state sways from global as well as Russian factors. Its economic growth fell to 2.3% in 2009 from 8.4% in the earlier year hit by the global crisis. The country’s foreign currency revenues are fed mainly from Kyrgyz laborers working in Russia, but Russia’s own woes in later years left many of them unemployed or doing jobs that pay less.
Currently the country is in grip of “south-north divide” and any further turbulence in this context is considered worrisome since south lies at the heart of Central Asia’s most flammable corner where hundreds died in 1990s in ethnic clashes between Uzbeks and Kyrgyz .
With government treasury statedly near empty ,Russia’s Finance Minister Alexei Kudrin announced $50 million in humanitarian aid with Putin promising even larger amounts of humanitarian aid to help people weather the situation.
US Assistance Secretary of State Robert Blake is also holding talks with the interim government to normalize thesituation.
Published (20/4/2010)
http://samaylive.com/english/nation/articles/676462010.html
But the current unrest was compounded by autocratic and corrupt rule of ex-president Kurmanbek Bakiyev, who fled the capital city of Bishkek and further rumored to have left the country for some unknown place.
The interim government of the country headed by Roza Otunbayeva intends to prosecute the ex-president , there being serious charges of his having illegally transferred $200 million abroad through his close associates .With numerous agreements and conventions of legal assistance ,the authorities consider the probability of prosecuting him quite high.
Ex-president took power in the year 2005 after the Tulip Revolution that almost offered a hope of bringing democracy to the former Soviet Republic.But soon he turned an autocrat with his rule marred by corruption and human right abuses.
Recently Obama courted him to ultimately retain the rights to the military base of ‘Manas’ being used to supply US troops to Afghanistan so crucial at the present juncture. But even more recently Russia had offered Bakiyev sizable amount of aid , in an effort to persuade him to close the said ‘base’.This adds significance to this timely action to bring Kyrgyzstan back to Russian influence.
Kyrgyzstan , however, hosts both a Russian and US military airbase. US forces set up their base in this country when they overthrew the Taliban government in Afghanistan late in 2001 and later used the Manas base to support the current operations in Afghanistan.
How the US and Russia interests compete here can be reckoned from the facts the Kyrgyzstan’s parliament voted in February 2009 to approve the closure of the US base after securing pledges of $ 2 billion in aid and credit from Russia. Washington later agreed to pay $180 million to Kyrgyzstan to keep the base open.
The economy of this impoverished Central Asian state sways from global as well as Russian factors. Its economic growth fell to 2.3% in 2009 from 8.4% in the earlier year hit by the global crisis. The country’s foreign currency revenues are fed mainly from Kyrgyz laborers working in Russia, but Russia’s own woes in later years left many of them unemployed or doing jobs that pay less.
Currently the country is in grip of “south-north divide” and any further turbulence in this context is considered worrisome since south lies at the heart of Central Asia’s most flammable corner where hundreds died in 1990s in ethnic clashes between Uzbeks and Kyrgyz .
With government treasury statedly near empty ,Russia’s Finance Minister Alexei Kudrin announced $50 million in humanitarian aid with Putin promising even larger amounts of humanitarian aid to help people weather the situation.
US Assistance Secretary of State Robert Blake is also holding talks with the interim government to normalize thesituation.
Published (20/4/2010)
http://samaylive.com/english/nation/articles/676462010.html
Security summit:Coping with nuclear terrorism
Twenty-first century presents a horrifying challenge of “nuclear terrorism” thanks to Al-Qaeda and other terror groups persistently trying to seize nuclear weapons and material within a weak and failing state of Pakistan.
“Preventing nuclear proliferation and nuclear terrorism” was thus at the top of obama’s agenda in the recently concluded Nuclear summit held at Washington. While India’s concerns were the uppermost being victim of repeated terrorists attacks originating from the soil of Pakistan like the terrorist attack of 26/11 and prior attack at Indian parliament ,the meet was also marked by bilateral agreements between US President Barack Obama and the heads of states of Russia ,China and Brazil due to Iran’s nuclear programme, though the countries, in question, were seen mostly not favouring sanctions against the said country.
India’s Prime Minister steadfastly stuck to not reviving the composite dialogue in view of Pakistan not taking any action against the terrorists groups operating within that country, though US promised to give India access to the terrorist David Headley. How the situation was getting scarier for India from the angle of terrorism directed against it was squarely brought home to the US administration. Pakistan has been the location of activity of several Islamist terror groups against India. Added to this, the network of A Q Khan had been active in providing nuclear technology and nuclear material to various countries.
Amending international law was rather agonizingly slow and could not thus meet this menace operating briskly due to fast spreading networks of terror organizations. Further, international law could not embrace non-state actors –meaning individual terrorists. A striking example of slow pace of amending law could be seen in that “2005 amendment to the 1980 convention on the physical protection of nuclear material” has so far been ratified by just 34 countries, about one-third of the countries necessary for it to come into force as international law.
Instead acting stringently on measures already in place and solidly coordinating the work of national , regional and multilateral bodies should be given top priority even by rationalizing national laws and ensuring that various law enforcement , intelligence agencies etc implement the law stringently .Further IAEA should be designated as coordinator for various national and international bodies.
But the real task was to place an on –the –ground security against WMD terrorism. That was desired to be achieved by providing political and material incentives for countries to become active participants in the frame-work against nuclear terrorism.
As a part of this incentive US may be trying to use the Pakistan military as part of its strategy in Afghan-Pak area.But due care should be taken lest Pakistan interferes politically in the neighbouring countries.
Pakistan has often been found indulging in adventurism that even saw Bangladesh violently seceding. Likewise now Pashtun appear to have chosen the same path.
Published (17/04/2010)
http://samaylive.com/english/nation/articles/676461776.html
“Preventing nuclear proliferation and nuclear terrorism” was thus at the top of obama’s agenda in the recently concluded Nuclear summit held at Washington. While India’s concerns were the uppermost being victim of repeated terrorists attacks originating from the soil of Pakistan like the terrorist attack of 26/11 and prior attack at Indian parliament ,the meet was also marked by bilateral agreements between US President Barack Obama and the heads of states of Russia ,China and Brazil due to Iran’s nuclear programme, though the countries, in question, were seen mostly not favouring sanctions against the said country.
India’s Prime Minister steadfastly stuck to not reviving the composite dialogue in view of Pakistan not taking any action against the terrorists groups operating within that country, though US promised to give India access to the terrorist David Headley. How the situation was getting scarier for India from the angle of terrorism directed against it was squarely brought home to the US administration. Pakistan has been the location of activity of several Islamist terror groups against India. Added to this, the network of A Q Khan had been active in providing nuclear technology and nuclear material to various countries.
Amending international law was rather agonizingly slow and could not thus meet this menace operating briskly due to fast spreading networks of terror organizations. Further, international law could not embrace non-state actors –meaning individual terrorists. A striking example of slow pace of amending law could be seen in that “2005 amendment to the 1980 convention on the physical protection of nuclear material” has so far been ratified by just 34 countries, about one-third of the countries necessary for it to come into force as international law.
Instead acting stringently on measures already in place and solidly coordinating the work of national , regional and multilateral bodies should be given top priority even by rationalizing national laws and ensuring that various law enforcement , intelligence agencies etc implement the law stringently .Further IAEA should be designated as coordinator for various national and international bodies.
But the real task was to place an on –the –ground security against WMD terrorism. That was desired to be achieved by providing political and material incentives for countries to become active participants in the frame-work against nuclear terrorism.
As a part of this incentive US may be trying to use the Pakistan military as part of its strategy in Afghan-Pak area.But due care should be taken lest Pakistan interferes politically in the neighbouring countries.
Pakistan has often been found indulging in adventurism that even saw Bangladesh violently seceding. Likewise now Pashtun appear to have chosen the same path.
Published (17/04/2010)
http://samaylive.com/english/nation/articles/676461776.html
India-US partnership to drive global economy
As India plans to achieve 9 percent economic growth during 2011-2012 and cross the double digit threshold during twelfth plan (2012-2017), with US running the global economy, an India-US economic and financial partnership was naturally very much on the cards.
Mainly anchored on massive investments in infrastructure projects, mostly roads and ports, it was but natural to take a call to develop a domestic corporate debit market to meet the long-term requirements of big infrastructure companies for finance, since banks are not designed for this purpose.Thus speaking on the platinum Jubilee celebration of the RBI Prime Minister Manmohan Singh clearly said “Massive investment in infrastructure will have to be funded through long-term debit which underscores the need of a corporate debit market”.
A beginning in evolving a private sector infrastructure bond market had indeed already been made in the current budget itself, when substantial income tax relief was provided to the Middle income group and simultaneously private sector firms were authorized to issue long-term tax free infrastructure bonds. As part of budget proposals ,individuals become entitled to tax benefits for investments upto Rs 20,000 in infrastructure bonds over and above the benefits that were already allowed for Rs one Lac worth of saving across other instruments. Thus the government stands committed to bring in much needed buoyancy in this market. Naturally a number of companies may even venture into global enterprises there being no dearth of business acumen in the country’s business world.
Now India eyes US investment to the tune of $600 billion over 5 years in the US-India partnership in PPP (public private partnership) mode i.e. mainly outside the banking system. This collaboration through various financial systems may see designing of innovative mechanisms by leveraging on private investment .A common approach to strengthen global financial institutions like IMF and World Bank and make them more representative could also be an outcome in the long-run. India’s success in weathering the global recession and resilience of Indian economy has been due to policies based on an inclusive and domestic demand . US Treasury Secretary Timothy Geithner thus rightly noted “India is not vulnerable to the ups and down of the global economic vagaries to a great extent because of its policies”.New Delhi is also hopeful of this partnership ultimately taking the model of highly successful economic dialogue platform that China has with US .The partnership envisages a fast track setting up of an Infrastructure Development Fund that will serve as a vehicle for US investment into Indian infrastructure.
The deepening of financial relations in this manner could also give impetus in bilateral trade. Likewise India’s discomfort with proposed higher taxes for US companies that outsource their business could also be sorted out.There is also a resolve to look afresh about ‘terrorism financing’ that happens to pass through various financial systems and salutary action in this regard could further cement the partnership efforts. Thus the relationship becomes even more important both “economically as well as strategically” .According to Deputy Chairman of Indian Planning Commission Montek Singh Ahluwalia “revitalization and stability of the American economy is an essential element of India’s return to 10% growth and a financial partnership with the US is an economic imperative”.
Soon there will be a significant deepening of capital markets, including more liquid debt markets and increasing the scope of infrastructure finance that will add to gains in both the countries.
Published
13/04/2010 in
http://samaylive.com/english/nation/articles/676461358.html
Mainly anchored on massive investments in infrastructure projects, mostly roads and ports, it was but natural to take a call to develop a domestic corporate debit market to meet the long-term requirements of big infrastructure companies for finance, since banks are not designed for this purpose.Thus speaking on the platinum Jubilee celebration of the RBI Prime Minister Manmohan Singh clearly said “Massive investment in infrastructure will have to be funded through long-term debit which underscores the need of a corporate debit market”.
A beginning in evolving a private sector infrastructure bond market had indeed already been made in the current budget itself, when substantial income tax relief was provided to the Middle income group and simultaneously private sector firms were authorized to issue long-term tax free infrastructure bonds. As part of budget proposals ,individuals become entitled to tax benefits for investments upto Rs 20,000 in infrastructure bonds over and above the benefits that were already allowed for Rs one Lac worth of saving across other instruments. Thus the government stands committed to bring in much needed buoyancy in this market. Naturally a number of companies may even venture into global enterprises there being no dearth of business acumen in the country’s business world.
Now India eyes US investment to the tune of $600 billion over 5 years in the US-India partnership in PPP (public private partnership) mode i.e. mainly outside the banking system. This collaboration through various financial systems may see designing of innovative mechanisms by leveraging on private investment .A common approach to strengthen global financial institutions like IMF and World Bank and make them more representative could also be an outcome in the long-run. India’s success in weathering the global recession and resilience of Indian economy has been due to policies based on an inclusive and domestic demand . US Treasury Secretary Timothy Geithner thus rightly noted “India is not vulnerable to the ups and down of the global economic vagaries to a great extent because of its policies”.New Delhi is also hopeful of this partnership ultimately taking the model of highly successful economic dialogue platform that China has with US .The partnership envisages a fast track setting up of an Infrastructure Development Fund that will serve as a vehicle for US investment into Indian infrastructure.
The deepening of financial relations in this manner could also give impetus in bilateral trade. Likewise India’s discomfort with proposed higher taxes for US companies that outsource their business could also be sorted out.There is also a resolve to look afresh about ‘terrorism financing’ that happens to pass through various financial systems and salutary action in this regard could further cement the partnership efforts. Thus the relationship becomes even more important both “economically as well as strategically” .According to Deputy Chairman of Indian Planning Commission Montek Singh Ahluwalia “revitalization and stability of the American economy is an essential element of India’s return to 10% growth and a financial partnership with the US is an economic imperative”.
Soon there will be a significant deepening of capital markets, including more liquid debt markets and increasing the scope of infrastructure finance that will add to gains in both the countries.
Published
13/04/2010 in
http://samaylive.com/english/nation/articles/676461358.html
Galloping inflation and food security for poor
Controlling the galloping inflation and ensuring food security for the poor has become a cause of constant worry for the UPA government .Any default on this front may soon translate into political consequences since elections in Bihar , Bengal and Tamil Nadu will be held, year after year, in the run up to the general elections.
Government is thus ready with the roll out of 'Food Security Bill' that may soon be enacted as law by Parliament.
The PDS (Public distribution System) contemplated to be implemented envisages delivery of food grains to the BPL families at Rs 3 a Kg. Government is also considering bringing urban poor within the ambit of this scheme. But such systems being always notoriously infested with frauds and scams has kept the government over-cautious over implementation of the scheme which has now decided to significantly involve the agency of Comptroller and Auditor General to transform it into effective tool for ensuring food distribution in a fair and meticulous manner.
The checks may include
1. Verification of the lists of beneficiaries
2. Control over quantity of food grains, lifted from Food Corporation of India.
3. And how much of it went to be beneficiaries
Surveys so far conducted revealed that a large percentage of beneficiaries do not receive regular supply of grains and accounts are falsified to conceal the fraud. Overcharging of rates had also been reported.
A vigilant and stern administration over the system would appear to be imperative. Any default on this front should be ruthlessly dealt with lest it should translate into big political liability.
Apart from his ,controlling inflation by ensuring supply side in the market, devising conducive monetary policies, curbing evils of hoarding and games of speculators and market manipulators should be under the constant eye of the concerned departments. Even loose hints by the politicians that may add to inflationary trends in the food markets should be scrupulously avoided.
Published at
09/04/2010 in
http://samaylive.com/english/nation/articles/676461038.html
Government is thus ready with the roll out of 'Food Security Bill' that may soon be enacted as law by Parliament.
The PDS (Public distribution System) contemplated to be implemented envisages delivery of food grains to the BPL families at Rs 3 a Kg. Government is also considering bringing urban poor within the ambit of this scheme. But such systems being always notoriously infested with frauds and scams has kept the government over-cautious over implementation of the scheme which has now decided to significantly involve the agency of Comptroller and Auditor General to transform it into effective tool for ensuring food distribution in a fair and meticulous manner.
The checks may include
1. Verification of the lists of beneficiaries
2. Control over quantity of food grains, lifted from Food Corporation of India.
3. And how much of it went to be beneficiaries
Surveys so far conducted revealed that a large percentage of beneficiaries do not receive regular supply of grains and accounts are falsified to conceal the fraud. Overcharging of rates had also been reported.
A vigilant and stern administration over the system would appear to be imperative. Any default on this front should be ruthlessly dealt with lest it should translate into big political liability.
Apart from his ,controlling inflation by ensuring supply side in the market, devising conducive monetary policies, curbing evils of hoarding and games of speculators and market manipulators should be under the constant eye of the concerned departments. Even loose hints by the politicians that may add to inflationary trends in the food markets should be scrupulously avoided.
Published at
09/04/2010 in
http://samaylive.com/english/nation/articles/676461038.html
Arab summit :peace talks dubbed as "total failure"
Changing stance at every turn of the "peace talks" while not implementing the two-state solution, though repeatedly swearing by the same, has proved to be hidden policy of Israel.
For about 20 years,the process has virtually served as a cover for annexation of illegally occupied land,building settlements on such land though often conceding that settlements would be dismantled and promising freeze on such settlements.
Now when Netanyahu referred to Jews building Jerusalem 3000 years ago in the context of settlements on annexed land of East Jerusalem, the history of yore was attempted to be created without regard to the holy sites of paestinians in their ownland.
The Arab Summit at the end of March 2010 naturally centered around working out a united strategy against Israel settlement policy with Saeb Erakat, Palestinian chief Negotiator saying "The Arabs offered to accept the two-state solution, have offered to have peace as a strategic option and what did the Israel governments do all the time: more settlements ,more fait accompli policies, more dictations and more facts on the ground".
Arab summit thus rightly dubbed the long dawn process a total failure threatening to pull out that may serve to give Israel a bitter taste of its own arrogance.
Published at 09/04/2010 17:00:00 in
http://samaylive.com/english/nation/articles/676461037.html
For about 20 years,the process has virtually served as a cover for annexation of illegally occupied land,building settlements on such land though often conceding that settlements would be dismantled and promising freeze on such settlements.
Now when Netanyahu referred to Jews building Jerusalem 3000 years ago in the context of settlements on annexed land of East Jerusalem, the history of yore was attempted to be created without regard to the holy sites of paestinians in their ownland.
The Arab Summit at the end of March 2010 naturally centered around working out a united strategy against Israel settlement policy with Saeb Erakat, Palestinian chief Negotiator saying "The Arabs offered to accept the two-state solution, have offered to have peace as a strategic option and what did the Israel governments do all the time: more settlements ,more fait accompli policies, more dictations and more facts on the ground".
Arab summit thus rightly dubbed the long dawn process a total failure threatening to pull out that may serve to give Israel a bitter taste of its own arrogance.
Published at 09/04/2010 17:00:00 in
http://samaylive.com/english/nation/articles/676461037.html
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