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Happy diwali from Warmonger george BUSH |
| Published on October 25th, 2008 In Uncategorized | Views 360 | |
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Happy Diwali from WARMONGER George Bush as Indian Speaker Ex CPIM Vetran Stops Parliament to Discuss Nuke Deal Betrayal!Come, Say, War against Terror is translated in Global Financial Crisis! Poor Bush replicates BRAND BUDDHA! Buddhadeb Bhattacharjee to ask Tata to bring Nano back in West Bengal.US govt to Buy Stake in Insurance Companies! India, China Join Hands to Tackle Financial Crisis.Govt Secures Rs 216-crore Bank Guarantee from India Inc
Troubled Galaxy Destroyed Dreams: Chapter 92
Palash Biswas
YouTube - Somnath deemed a martyr in Bolpur25 Jul 2008 … In his constituency Bolpur from where Somnath Chaterjee has won for more than two decades he is nothing less than a martyr. Nano back in Bengal? Buddha to meet Tata KOLKATA, Oct. 24: Mr Buddhadeb Bhattacharjee will take up with the Tata group chief Mr Ratan Tata the demand for bringing back the “Nano” project to Singur. Tata faced protests from opposition political parties in the state who wanted more money for the farmers who gave their land for the project. Tata finally decided to move the plant away from Singur in West Bengal. They are now working on setting up the plant in Gujarat. Members of Nano Banchao Committee met West Bengal CM with the request to ask Tata Motors to reconsider their plans to move the Nano plant away from the state. Tata Nano is expected to be launched in the coming months and it would then become the cheapest car in the world. European Commission President Jose Manuel Barroso told AFP Saturday it was possible to reach “concrete and important" decisions at a summit next month in Washington on the global financial crisis! Joining a global equity rout on worries about a sharp global recession, domestic indices fell to their lowest levels in nearly three years on “Black Friday” as the benchmark BSE 30-Share Sensex tumbled by 1070.63 points to close at 8701.07. World leaders called for an urgent overhaul of international financial systems and China demanded stricter regulations in the face of dramatic losses on the markets and a sliding world economy. President Hu Jintao said on Saturday that China and India should have a “far-sighted, strategic and long-term perspective” even as they join hands to deal with the global financial crisis. China and India have maintained sound relations and economic cooperation and collaborated in international affairs, Hu told Indian Prime Minister Manmohan Singh on the sidelines of the just concluded 7th Asia-Europe Meeting (ASEM). Premier Wen Jiabao said on Saturday China would take an active role in a crucial international summit in the United States next month aimed at tackling the global financial meltdown. Recession has come. And it is not only the Greed of the Galaxy Ruling Hegemony, not only the sub prime crisis, not only the melting down, It is also the War against Terror launched jointly by US Zionist Money Machine, Zionist Gestapo and Nuclear non nuclear weapon Industry for which every Human being on this Planet has to suffer! The Starvation just has begun! The Job Crunch is only in primary stage! We have to bear with many more Tsunamies yet to cross the Continental Waters!Hindutva bomb has exploded!Christianity in India feels the heat and dust. Poor Bush is a better Marxist when he nationalises Bank stakes and fidel castro or Chavej also laud him! but in his bid of financial rescue, more or less, he replicates our own BRAND BUDDHA in Marxist Ruled west bengal in India! US President George W Bush has wished an “uplifting and hopeful" Diwali to the Indian American community in Washington, saying the festival reminds of the great blessings of religious freedom and the two nations" strong traditions of faith. On the other hand, Indian speaker, the Ex CPIM Vetran Somanth Chattopaddhaya suceeds to stop discussion on the Nuke Deal betrayal in the Parliament!Meanwhile agencies report that Quality of secondary education, cost of starting a business and the lack of government effectiveness are among the reasons why India ranked 70th among 104 nations on the World Prosperity Index (WPI) 2008. Increase in capital and education contribute directly to the value of physical and human capital and thus directly increase economic output. Poor governance and excessive bureaucracy impose costs on business and thus restrain growth, the report released last week said. The Institute also ranks India at 10th place on its ‘Who"s Going Places" list, with China on number six. Following its purchase of shares of leading US banks, the US government is considering buying equity stakes in insurance companies using the $700-billion rescue package approved by Congress, The Wall Street Journal reported on Saturday. The newspaper said the insurance firms are offering their shares themselves, feeling they could benefit from the government"s money pool amid financial turmoil. Citing people familiar with the matter, The Journal said MetLife Inc., Prudential Financial Inc., and New York Life Insurance Co. were interested in exploring a sale of equity stakes to the government. Yesterday, PNC Financial Services Group Inc., said The Treasury Department would buy $7.7 billion worth of preferred stock and warrants. Last month, the US government saved from bankruptcy American International Group (AIG), a giant insurance company. Meanwhile,Asian and European leaders said on Saturday they have reached a broad consensus on ways to deal with the global financial meltdown and will present their views at a crisis summit next month in Washington. Speaking at the close of a two-day Asia-Europe Meeting in China"s capital, the leaders called for new rules for guiding the global economy and a leading role for the International Monetary Fund in aiding crisis-stricken countries. The biennial forum, known as ASEM, generally does not make decisions, and a statement issued by the leaders indicated how much the crisis in global markets has driven world opinion and institutions. “I"m pleased to confirm a shared determination and commitment of Europe and Asia to work together," EU Commission President Jose Barroso said at a closing news conference. He said participants would use the statement as the basis of their approach at the Nov. 15 Washington summit of the 20 largest economies. On the other hand,a string of US banks have signed up for the government"s offer of a cash injection in a bid to revive the sector, which has suffered since The US Treasury Department plans to provide funds for 20 to 22 additional lenders as part of its next round of a $250 billion bank recapitalization program. Banks that have announced they will use the government"s funds: PNC Financial Services Group Inc ($7.7 billion) Regions Financial Corp ($3.5 billion) First Horizon National Corp ($866 million) Valley National Bancorp ($330 million). But we indians are quite detached with realities around the globe and indulge ourselves in Virtual reality, enjoying new found Hindu Nuclear Super Power status coupled with United states of America! Buoyed by the successful launch of the country"s maiden unmanned moon mission Chandrayaan-1, the Indian Space Research Organisation (ISRO) is all set to start an institute to train astronauts for its planned first manned space mission by 2015, said a top official. “Bangalore is our chosen destination to set up a state-of-the-art institute to train astronauts for our manned space mission. We have already got 40 acres of land near the new airport at Devanahalli (about 35 km from city centre) and the state government has promised to provide us with another 100 acres soon," ISRO chairman G Madhavan Nair told reporters on Saturday at the Indian Deep Space Network (IDSN) at Byalalu, about 40 km from Bangalore. On the other hand, The government has cracked down on India Inc for alleged duty evasion in import of aircraft, and has secured bank guarantee worth Rs 216 c “We have received bank guarantee to the tune of Rs 216.37 crore and bond worth Rs 995.57 crore from various business houses whose aircraft we have seized, some of which have been provisionally released," a top officer of Customs Preventive, North Zone, who did not wish to be identified, said. Giving an overview of the department"s half-yearly performance, he said the total value of the 15 aircraft seized in the last three months amounted to Rs 1,138.31 crore. The crackdown initiated by the department had caught many business houses unawares with aircraft of leading corporates promoted by top businessmen, including Mukesh Ambani, his brother Anil, TATA, GMR, and Oberoi groups, among others being seized. Some of the aircraft were later provisionally released on the basis of bank guarantee of the duty demanded and bond of the value of the aircraft given by such companies. The latest aircraft to be seized by the department was a Gulf Stream G-200 belonging to Punj Lloyd Aviation Ltd, for which a show-cause notice would be issued soon. The official said over 200 aircraft imported under the Non Schedule Operator Permit (NSOP), which were given duty exemption, are being probed, “since many aircraft were being used for personal purpose". Meanwhile, the department which has also initiated crackdown on import of luxury cars has seized seven cars including a ‘Hummer" for duty evasion at the time of import by ‘misrepresenting facts". “The total spot recovery of duty in the last six months amounts to Rs 48.14 crore and the total value of seizures made is Rs 1,381.62 crore," he said. The department also recovered Fake Indian Currency Notes (FICN) totalling Rs 61 lakh during the same period in seven cases at the Munabao Land Customs Station in Rajasthan and one at the Attari Land Customs Station in Amritsar. The department also recovered 45 kgs of heroin and 50 kgs of charas with Pakistani markings in its zone, the official said. The Indian Speaker did not consider privilege notice against PM, the Washington supreme slave Dr Manmohan Singh. He misused his office to stall the debate on the Great Indian Nuke Deal betrayal! He helped the UPA NDA Bail out plan during last Parliament Session and sided with the colonial Government of India negelecting Party Whip. the Ruling Hegemony did not take any time to make him the most valuable Brahaminical Icon as his father Late Shri N.C. Chatterjee, a hindu mahasabha leader, was a close associate of Partition criminal Shyama Prasad Mukherjee! We should never forget that until recently, Somnath Chatterjee, the speaker enjoyed another post of benefit. He had been the President of west bengal industrial development corporation. He is the man who instituted the Indiscriminate land aquisition in west bengal reversing the Party Line of Land reforms and rural Development. In shantineketn he allotted land to Realty Dealers on the name of industrialisation violating the authority of Vishwa Bharati! Even Mahashweta Debi led a land movement in shantiniketan . For which CPIM launched an all out attack against the most respected writer to defend the shanti Niketan DON! Now it happens to be a reverse game. One time friends turned into Foes wanting blood. both defending the Brahaminical hegemony in bengal and rest of the country! What an Amusement! What about the planted PRIME MINISTER? On a day the sensex plunged over a thousand points back home, inm Beijing, Prime Minister Manmohan Singh used the forum of the Seventh Asia Europe Meeting (ASEM-7) to concede for the first time that the international financial crisis was beginning to have a grave impact on India for no fault of its own. Seeking strengthening of global co-operation to combat terrorism, Prime Minister Manmohan Singh on Saturday said there cannot be sustainable development, a major challenge faced by the world, without peace. “Without peace there can be no sustainable development. Terrorism, extremism, and intolerance threaten our social cohesion," Singh said in his address to the 7th Asia-Europe Meeting (ASEM) Summit. The Prime Minister repeated the government’s standard mantra — that the banking system was sound and that the economy was slated to grow at 7 to 7.5 per cent. But shedding the usual complacency, Singh went on to admit that India cannot remain unaffected for long. “Our stock markets and the exchange rate of the rupee are under pressure due to capital outflow of foreign institutional investors. Sooner or later, the real economy is bound to experience the pain,” he said. Singh, however, did not confine himself to a description of the crisis but went on to offer some concrete proposals — one reason, perhaps, that Chinese Premier Wen Jiabao placed on record his appreciation of Singh’s speech. Mind you, Lok Sabha Speaker Somnath Chatterjee on Monday said he has received a privilege notice against Prime Minister Manmohan Singh in Trying to pacify the agitated Left members who wanted to raise the issue of alleged breach of privilege against Singh, Chatterjee said, “I have received the notice and it is under my consideration." Raising the issue, Basudeb Acharia of CPM alleged the Prime Minister failed to fulfil his promise to the House made in July that he would come back to Parliament before operationalising the Indo-US civil nuclear deal. The government went to the US without informing the House, Acharia said adding, “the Prime Minister owes an explanation to the House. This is a breach of privilege." What was the result ultimately? The Nation witnessed a classic version of reality show BIG BOSS. How GOT UP was the game! The calculated planned riots in maharashtra as well as Bihar and at lats the Emotional Outbirst of the Indian speaker. It left no space for either Nuke Deal or Financial crisis. No body questioned Dr manmohan singh what a traitor he has turned to be! No Body asked the Chettiayar World bank IMF Gang a single question why they Feed the Killing Money machine misusing FINMIN and RBI! The Shantiniketan don managed everything with surgical precision . A mega hit Block buster! Let our Bollywood Tollywood stars learn how to create a real drama! In a rare moment in India’s parliamentary history, Lok Sabha Speaker Somnath Chatterjee on Friday walked out of the House and threatened to resign after the confrontation between him and the Left MPs flared up once again. A visibly hurt Chatterjee said he felt “tortured by the repeated questioning of his decisions”, in an apparent reference to his verbal duel with the Left MPs in the House. The already strained relations between the Speaker and his former colleagues took a turn for the worse when Chatterjee rejected CPI-M leader Basudeb Acharia’s notice for an adjournment motion on the attacks on Christians in Orissa and Karnataka. When the CPI-M and CPI members insisted that the issue be discussed, Chatterjee said: “This is most unfortunate. I will show you video clippings. Say where the discussion could have been allowed.” Day four of the week and not a single question taken up. On Thursday, when disruptions in the Lok Sabha were again the order of the day, Speaker Somnath Chatterjee had had enough and said in an emotional outburst that he was on his way out but the institution should remain and “democracy be strengthened". Chatterjee lashed out at the MPs at 11 a.m. soon after the day"s proceedings began. Communist Party of India-Marxist (CPI-M) leader Basudeb Acharya began the day by getting up to draw the chair"s attention towards a notice given by him. After repeated interruptions, the speaker took control of the house and said: “Please show a little respect. This has become the fashion nowadays. If you think that you are strengthening the cause of democracy, it is for you to decide. I am on my way out. Do not think that it will influence me. The house should remain." “I am not aspirant for anything… personally you can take it that I am out, for all purposes. But I want this institution, which I am associated with for nearly 40 years, to remain… I am going back with lot of pain and agony from this house, but I want this house to remain, this house to function and democracy should be strengthened." A visibly agitated Chatterjee said about the repeated adjournments of the house: “Today is the fourth day of this week. We have not had even one question taken up; not a single matter could be taken up or discussed; you have very important matters." He asked the parliamentarians to introspect. “Every day, one second past 11 a.m, the commotion starts; I am making repeated appeals. If there is anything called truth, please go through it and bear me out. I will allow all subjects to be discussed." Recalling his promise to house leaders that he would allow five important matters to be discussed in the house, the speaker challenged his opponents and asked: “Can anybody show that I deliberately did not allow any matter which could be raised." “Naturally, I will be targeted, but I do not mind," he said. “My only reply is, please do some introspection. Please consider yourself, whether all of us are contributing to the functioning of this house. If I am wrong, you can show me."
The President and the First Lady Laura Bush sent their greetings through the members of the community who came to the Indian Treaty Room of the White House to mark the occasion as it had been done in past years of the Republican administration. “I send Greetings to those celebrating Deepavali (Diwali), the Festival of Lights" Bush said in a Message. “The candle"s flames represent the light of hope and in the blessings of life. The light from these candles reminds observers that good always triumphs over evil and we go forward in confidence that it will continue to prevail in the future" he added. The President said, “This joyous festival reminds all citizens of the great blessings of religious freedom and our nations strong traditions of faith." “Laura and I send our Best Wishes for an uplifting and hopeful Diwali," Bush added. “During Diwali, millions of Hindus, Sikhs, Buddhists and Jains around the world will join together setting out ‘diyas" and enjoying fireworks in celebration of the Festival of Lights," he said. President Bush addresses the Indian ruling Brahaminical class in accordance with the Post Modern Manusmriti Aparteid Galaxy Zionist Hindu White Oredr of mass destruction! While, The global financial crisis inflicted more pain on a wide range of corporate sectors, prompting heavy losses in stock markets, while the IMF readied a rescue of some 200 billion dollars for debt-laden countries. Amid grim financial news from around the world, stocks saw another tumultuous day yesterday, starting with a horrific 9.6 per cent slump in Tokyo shares that spilled over to Europe, where London"s FTSE plunged 5.0 per cent. The function in the White House on Friday was said to have been attended by between 80 to 100 members of the Indian American community including the leadership with some of them travelling from Philadelphia, Detroit and Florida; Congressional Staffers of the Indian American community and senior officials of the Embassy of India. Addressing the gathering, Commerce Secretary Carlos Gutierrez lauded the India-US relations and the important positions held by members of the Indian American community in both the government and the private sectors. “This year"s celebration of Diwali in the White House has a special meaning for both countries since it crowns a momentous year during which our countries came together closer than ever before" said Arathi Krishna, the Community Development Officer at the Embassy of India and one of the attendees of yesterday"s event. The best word to describe what"s going on right now is panic," said Credit Suisse strategist Satoru Ogasawara. Wall Street followed other exchanges downwards as a wave of panic selling and a meltdown in share prices swept around the world. The Dow Jones Industrial Average slumped 312.30 points (3.59 per cent) to close at 8,378.95, in a volatile session that saw the blue-chip index down as much as 500 points. The market action capped a week with a drop of more than five per cent for the US blue-chip index. Iceland"s government said it had asked for two billion dollars (1.58 billion euros) of support from the International Monetary Fund, the first Western country to do so since 1976, to help emerge from a collapse of its banking sector. The IMF said it had tentatively agreed to the loan and announced it had set aside more cash to rescue stricken nations. “The IMF has more than 200 billion dollars of loan-able funds and can draw on additional resources through two standing borrowing arrangements with groups of IMF member countries," the institution said on its website. French auto giants PSA Peugeot-Citroen and Renault ordered huge production cuts, while Japan"s electronics giant Sony Corp. and Europe"s biggest airline Air France-KLM issued profits warnings. In Britain, official figures confirmed the country was about to enter a recession while Turkey"s central bank took action to strengthen bank liquidity and prop up its slumping currency. Chrysler LLC, the number three US automaker, said it would cut up to 5,000 white-collar jobs by the end of the year as prospects in the sector grow dimmer. ArcelorMittal, the world"s biggest steel producer, shut smelting furnaces on a temporary basis in France, Germany and Belgium, according to union chiefs who met with management. New figures showed industrial confidence in both France and Italy had fallen to the lowest level since 1993. There was also bleak data on the jobs front with Spain"s unemployment rate jumping to 11.33 per cent — the highest level in more than four years. The combined impact sent shares tumbling in Asia, Europe and the Americas. Japan"s Nikkei index plunged 9.60 per cent, ending below the key 8,000-point level for the first time in more than five years, and Hong Kong fell 8.3 per cent. European shares had lost up to 10 per cent by midday trade before mounting a late rally. French shares still fell 3.54 per cent to finish at five-year lows, while Frankfurt"s DAX 30 lost 4.96 per cent. Latin America"s largest economy Brazil saw its Sao Paulo bourse plunge 6.9 per cent on Friday. Mexico"s stock exchange closed down 4.61 per cent, while Argentina"s main market in Buenos Aires sank 7.61 per cent to cap a miserable stocks week in the region. Technology giant Sony, a bellwether of corporate Japan, saw its shares plunge more than 11 per cent after forecasting net profit of 150 billion yen (1.55 billion dollars) for the year to March, down 59 per cent on last year. CHATTERJEE, SHRI SOMNATH Contributed a chapter on Emergency and Parliament in 25 years of Social and Cultural Activities GJM suspends stir temporarily However, there is no rollback on the core demand. Gorkhaland, they believe, is the only way to protect the Gorkha identity. For the last three months, those demanding Gorkhaland had taken to the streets, forcing cars to change number plates from WB to GL, defacing government signboards and forcing people to wear only traditional clothes. The agitation has been suspended but the pitch of the demand for Gorkhaland is only getting louder. “This is my take for Gorkhaland by 2010. If by then it does not happen, it will get difficult for the government," said Bimal Gurung. Underlying the demand for statehood is the issue of identity of Indian Gurkhas, who feel they are often mistaken for citizens of Nepal. This, they say, is fallout of the 1950 Indo Nepal Treaty that did not give Nepal"s citizens the right to vote but allowed them to live and work in India. Even Gorkha soldiers of the Indian Army argue that non-demarcation between Indian Gurkhas and Nepali citizens is a loss of face for them. “We Indian Gurkhas have been voting in the various elections like Lok Sabha and state elections but the Nepal citizens have also found their names in the electoral rolls. But who will identify them unless the 1950 Treaty is amended or it is scrapped. Then only the separate identity of the Indian Gurkhas and the Nepalese citizens will be established in India," said Colonel J K Dixit, general secretary, Bhoopoorva Gurkha Sainik Morcha of Darjeeling zone. The scheduled Tripartite talks in November, like the last one in June, will be held at the secretary level. But with the Gorkhaland demand impacting India"s foreign policy on Nepal, Morcha leaders want that the issue be discussed at a political level. “We might ask for political level of talks because this is at the secretariat level. We are not very optimistic but not pessimistic either," said Amar Lama, member, central committee, GJMM. The ethnic dress code my be a treat for tourists but not for the CPM led Left Front government of West Bengal. The picture paints a stark reality that the demand for a separate Gorkhaland state is not going to die out soon. He said the GJM movement in Darjeeling was affecting the local people and the tourism, which is the main source of living in that region. ‘This year, during pujas, the tourist arrivals have gone down substantially,’ he added. Criticising the demand that three West Bengal districts - Purulia, Bankura and West Midnapore - be included in the neighbouring Jharkhand, he said: ‘These evil attempts can only be defeated if people can stand up against these type of demands.’ Bose also condemned the Maharastra Navnirman Sena’s (MNS) attack on north Indian students who had gone to sit for a railway board exam in Maharastra.
Rape victim wants CBI probe Statesman News Service
Expressindia » Story Nightmare on Dalal St, Mr FM? New Delhi, October 22: Just 24 hours after Prime Minister Manmohan Singh sought to assuage the nation’s concerns about the global financial crisis, stating that India must be prepared for “a temporary slowdown” even as his government is working to minimise the impact of the crisis, Rajya Sabha’s Question Hour saw a flurry of posers by lawmakers to the finance ministry about the crisis its allied ailments. And more tricky questions are in the offing. The first question about the crisis was listed by JD(U) MP from Begusarai Rajiv Ranjan Singh in the Lok Sabha for October 17, but the House was adjourned in a jiffy. This Friday, Congress MP from Dhule Bapu Hari Chaure has listed a ticklish starred question: whether the Indian government has decided to defer economic reforms in view of the current financial turmoil and if it proposes to reconsider banking, insurance and pension reforms. While the finance ministry’s response to Chaure would be watched closely, Tuesday saw Congress MP from Andhra Pradesh T Ratna Bai lead the pack with three questions on the crisis, the most evocative one asking the finance minister if “it is a fact that there is a nightmare on Dalal Street”! Ratna Bai also had a starred question on the measures being taken by RBI to augment liquidity and if the outflow of portfolio funds is responsible for aggravating the rupee’s fall in recent months. Senior BJP MP Najma Heptullah also raised two questions, along with the Samajwadi Party’s Mahendra Mohan, including a starred question that sought to know if forex derivatives losses “may well turn out to be the subprime crisis for India Inc” with potential “market-to-market”(sic) losses for corporates placed at Rs 120-200 billion. Finance minister P Chidambaram’s reply that “forex derivative losses do not pose any systemic issue” had to be tabled as the House was adjourned. Filmmaker Shyam Benegal, a nominated MP in the Upper House, asked for daily transaction records of FIIs for the first quarter of 2008, as filed by custodians with Sebi and RBI. Benegal displayed his sensitivities by asking the data to be shared “after masking FII identity to ensure that investor privacy is not violated”. The information Benegal sought was tabled in the House, but the BJP’s SS Ahluwalia’s question on credit default swap transactions was so elaborate that minister of state for finance Pawan Kumar Bansal had to respond with an assurance that the information would be collected and presented to the House. Ahluwalia not only wanted to understand the emergence of CDS and its distinctive features, but also bank-wise and institution-wise data for the last three years and outstanding CDS deals by September. The CPI’s D Raja had a short and sweet question about the US financial crisis, while Shiv Sena’s Sanjay Raut wanted clarity on “scams” in private and foreign banks. The Telugu Desam Party’s C Ramachandraiah was as concerned about the Dalal Street nightmare as Ratna Bai. But he wanted clear-cut answers: what is the projected financial burden and loss to both India’s economy and stock market, even how many financial companies will go bankrupt. The ministry’s response: only 2% of Indians have exposure to stock market losses and, of course, there is no reason for anxiety, as the PM has already stated. Tongue-biting At the end of a savage day of trading, the sensex tumbled almost 11 per cent to close at a three-year low of 8701.07, the Nifty — the other market bellwether — collapsed by 12.2 per cent, and the rupee plunged to a historic low of 50.15 against the dollar. If that wasn’t bad enough, the RBI disappointed the markets by refusing to cut interest rates further even as it trimmed the growth forecast for the economy to a range between 7.5 per cent and 8 per cent. For the sensex, it was the second largest fall in terms of absolute points at 1070.63; on January 21, the index had swooned by 1408 points. A stream of bad news from the US, the UK, Japan and other countries spooked global markets. The biggest worry was the data that showed that the British economy had shrunk by 0.5 per cent in the third quarter of 2008. This is the first contraction in 16 years and re-ignited fears that the country had gone into recession. In the US, software giant Microsoft issued a weak outlook while Sony Corporation, the Japanese electronics giant, said it had cut its annual sales and profit forecasts because of poor demand. The sensex had opened lower at 9535.41 points, taking a cue from weak Asian markets. Stocks were pounded as foreign institutional investors hit the sell button. In Delhi, finance minister P. Chidambaram tried to soothe markets by saying the authorities were looking to “adopt unconventional or unorthodox measures” and added that the RBI would pump in more money into the financial system if this was required. There was a buzz in the capital that the finance ministry might consider relaxing pricing rules for American and Global Depository Receipts. “We are being affected by the ripple effects of the global crisis. It is necessary to remain calm and confident so that we can ride out this crisis,” Chidambaram said. But the markets were tired of words and impatient with the reluctance to take action. The real trouble for the market began after the RBI announced that it had no intention to trim its interest rates. The comments of RBI governor D. Subbarao suggested that controlling inflation is still a priority in the run-up to the elections. “The (RBI’s) focus would be on ensuring price and financial stability, anchoring inflationary expectations and maintaining the growth momentum,” Subbarao told reporters. “Inflation continues to be a concern at 11 per cent — it is beyond the tolerance level and unacceptable. Despite its downward trend (in recent weeks), we cannot let our guard slip,” he added. By noon in Mumbai, the selling wave turned into an avalanche with more disturbing news from Europe that the Dow Jones Futures had gone deep into the red, indicating a disastrous start to US markets again. Analysts said foreign institutional investors (FIIs) were dumping stocks as they started to face redemption pressures. “The FIIs have no option but to sell because of these redemption pressures,” said Manish Sonthalia, vice-president (equity strategy) at Motilal Oswal Securities. “This is not happening in India alone but across the world. They are scurrying to the safety of US treasury bonds,” he added. Sonthalia conceded that he had not seen a carnage on this scale in the 15 years that he was associated with the capital markets. Nano letter plea “The chief minister told us he would shortly write to Ratan Tata with a request to reconsider his decision (to shift the project to Gujarat),” committee president Udyan Das said. “We badly need the Nano plant, we want it back in Singur.” An eight-member delegation of the committee had earlier met industries secretary Sabyasachi Sen and submitted a memorandum. A fortnight ago, the team had knocked on governor Gopalkrishna Gandhi’s door. Das said a majority of Singur residents were backing the committee. “Several unwilling farmers, too, have now agreed to accept cheques. Moreover, the youth have come forward to stand by the project.” The CPM indicated that the government would ask the Tatas to return the acquired land in Singur if they had no immediate plans of starting another automobile project there. Party secretariat member Benoy Konar said the government had received “proposals” from some investors. Industries minister Nirupam Sen, however, clarified that the government had not taken a decision yet. “We are still discussing the possibilities. It is not yet time to write to the Tatas,” Sen said, indicating that the government would not put pressure on the company before some other deal was cemented. Terror net scoops up fiery sadhvi The arrests were made by the Mumbai anti-terrorist squad (ATS) over the past one week from Surat, where the sadhvi, Pragya Singh Thakur, is now based, and from Madhya Pradesh. Joint commissioner of Mumbai police and ATS chief Hemant Karkare said: “We have arrested Pragya Singh Chandrapal Singh Thakur alias Purna Chetananand Giri, 38, Shivnarain Gopal Singh Kalsaangra, 36, and Shyam Bhawarlal Sahu, 42, for plotting the Malegaon explosions. They have been produced in a Nashik court and we (the police) have their custody till November 3.” Public prosecutor Ajay Mishra said the trio had been slapped with charges of murder, attempt to murder, criminal conspiracy and promoting enmity between different groups on religious grounds. They were also booked under the explosives act. The ATS claimed its probe had revealed that RDX was used in the September explosion just ahead of Id. The blast killed five persons. The remand application mentioned that among other evidence, the police had recorded telephone conversations of up to 400 minutes between Pragya and her co-accused after the blast. Karkare said Pragya had taken sanyas in 2007 and set up two organisations, the Jai Vande Mataram Janakalyan Samiti and the Rashtriya Janjagran Manch, in Indore. As evidence of her involvement, the ATS said the LML Freedom motorcycle on which the bomb had been placed was found registered in her name. The rear portion of the bike was mangled, and the probe showed that the chassis number and the original registration number had been tampered with. The police were not forthcoming on the evidence against the other two. Sources said Shyam Sahu ran a SIM card shop in Indore. Pragya’s father C.P. Singh Thakur, 68, an ayurvedic doctor in Surat, scoffed at the “flimsy evidence” and claimed that his daughter had sold the motorcycle but had forgotten to whom and that she did not have any papers to show for that. “She has been arrested because she could not name the person she sold her motorcycle to,” said Thakur. Thakur recalled that Pragya, during her college days in Madhya Pradesh, was a prominent, and feared, student leader. She would ride a motorcycle and severely beat up rogue Romeos harassing girls, earning admiration in a male-dominated society. Pragya is believed to be a former member of the Akhil Bharatiya Vidyarthi Parishad (ABVP), the student wing of the BJP, and the Durga Vahini, the women’s wing of the Vishwa Hindu Parishad. In 2001, she is said to have got herself photographed practising rifle shooting at a camp organised by the Durga Vahini. The BJP is fighting shy of defending the accused as the party leadership does not want to be clubbed with those who are defending the accused in the Jamianagar encounter. BJP leader Yashwant Sinha said: “Our only objection is they are being described as Hindu terrorists. CPM leader Brinda Karat called them Hindu terrorists. We have categorically said we don’t link religion with terrorism.” The Congress is still wary of going ballistic with the issue as it is trying to ascertain Pragya’s credentials as an insider of the ABVP. She is also believed to be a disciple of Swami Avadeshanand Maharaj, who is close to a Union minister and his politician son. Land Acquisition,compensation,disputes and politics ! There has been several controversies about the acquisition of the land currently classified as agricultural land. They were all associated with SEZ which UPA Govt. wants,opposed by BJP and LEFT. The Most high profile and violent cases were Singur ( where land was actually acquired) and Nandigram where one notice was issued. Govt. of West Bengal announced withdrawal of the Singur - out of 967 acres or so acquired by Govt, opposition TMC and their leader one and only Mamata Banerjee claimed 400 acres belonged to unwilling farmers and started agitation after forminf some " Samity" s. Reason given was Govt. was snatching away their only means of livelihood for patronizing an Industrialist - Ratan Tata. The paradox was , it the same Mamata Banerjee who challenged CM -Buddhadeb Bhattacharjee on the floor of Assembly to bring Industrialist like Tatas to generate employment, she is the one who opposed and her peace loving workers vandalized Tata Motor show rooms around Kolkata. The reality whichn was kept under the wrap came out late - this 400 acres of land is supposed to be owned by 2251 farmers who were listed as “unwilling". One need not be post graduate of London School of Economics or even an Economist to tell that all the farners who owned a ver small plot of land, how ever fertile it may be could not sustain The issues like " Fertile " or “Unfertle" and “fair" and “unfair" compensation often dogged this People jump in not such after looking into the FACTS but more on account of political leaning, biases ,and hype created by media and activists who need to be on TV to tell that they are working. I have tried to see the plus and minuses of the different approach and how much is Governments responsible for the fiascos. Land acquisition for projects - public or private : Some seem to believe that Govt. can only acquire land for Public enterprises and must not acquire land for Private enterpise.This is counter productive to the views many hold that we need to privatize. The view emanates from the Country"s experience of PSU which often was bleeding due to inefficiency, lethargy , corruption and political and Government intergference. People do not realize that in many places direct purchase of land from thev farmers/owners have several pitfalls - 1. As soon as the News of the project is known, powerful politicians rush to buy the land and then sell to to Business Enterprise at huge profit,making the project unviable or lame from the start. Here the farmers or owners get even less than what they would have got in case of Govt. Acquisition. No one knows about it because the booty is usually shared between politicians of Ruling party/parties and a few from the opposition. Usually there is no conflict when the loot is shared. The greatest example is the loot of PM"s package to Vidharbha Farmers - Congress,NCP and BJP, so did any one hear any political rumbling ? Did 2. Having seen procurement of 100 acres of land by an MNC for a Research Farm,I have seen who really benefits it is the local politicians through brokers or Village leaders. Final price paid by the MNC was many more times than prevailing rates - extra money was mostly pocketed by people other than the farmers/ owners. Less said is better. 3. Process takes unusually long time. All kinds of road blocks are used by the interest groups to delay and make money. Let me assure people that it might be prudent to believe a Govt. which has implemented Land Reform Act. almost 100% .No Govt. will ever do that unless the Govt. has concern for poor landless. It is unlikely that the Govt. will be indifferent towards farmers" interest. Land Acquisition for private Enterprise has always come under attack by oppostion - which is often onenot looking at the farmers" or Villagers" interest but for the sake of oppostion. Excellent examples of such dichotomy can be seen in case of Nuclear Deal- - BJP who initiated this ,opposed this and voted against along with Left.Nuke deal - Congress or Congress led Govt.s at the Centre or in States which favours Private Govt. Compensation comes under fire. The biggest hurdle as I see it is " Value of land in the Govt. Land Records. The value is the fixed based on a few recorded transactions. THe value of the land in Govt. record is often low due - - lack of transaction in the recent past to reflect the appreciation - cash or black money dealing. The compensation largely depends on on the value of the land as per Govt.records and Ptovisions of the Act. It is not fair on the part of the opposition and so called Civil Society to blame Govt. or ruling Party that they were not fair. Because - - because it it is public who keeps the value low by doing cash transaction and -land prices shot up due to announcement of the scheme Politician wants an issue with which they want to prove their existence and relevance. Take the case of Singur.People initially slammed the Govt. for being a Fascist Govt.flouting all Democratic norms. Those who said these - - did not tell any one what is democracy and what should have been a democratic - It was held legal by Calcutta High Court, It was a full cabinet decision, an - after Tata Motors started actions suggesting pull out, some said it was not Were these fair ? I believe these were said because of the prejudice some people held against CPI(M) and had nothing to do with logic and fairness. These said because political motives parties have supported by people who are influenced by hype opposition and interest groups created. They do not have insight, knowledge and wisdom to decide what is good for farmers and what is not. Those who are raising the bogey of farmers interest, can they say if those so called fertile land has irriigation, how many crops are grown, what are the crops grown, what is the cost of Cultivation, What is yield or out put , what are the prices so that gross income and net income can be worked out. Why make a Bandh and blockade and black mail the nation,Govt, local people? Why can"t the intellectuals, oppositions approarch Govt. to work out a formula for compensation. I can suggest the following - a. value of the land as per Govt.valuation and recot=rds b . a correction factor based general appreciation in that area c. a correction for other benefits given There should be ground rule set by the Civil Society that “Fishing in the troubled water" must be banned.Take the example Medha Patkar"s role in Singur and Nandigram- can any one tell why was she there? What has she done for people of West Bengal ? Why was Amar Singh there in Singur ? What has he done for people of West Bengal I believe we need strong law to prohibit Trouble Mongering and Rumour Mongering to mislead general public. If we need a stronger law to counter Terrorist attacks , we need a strong law to stop this trouble Mongering. It will help in controlling Trouble Mongering in this Country. UPA Govt. and Some State Govt.s like Govt.of West Bengal is being criticised by opposition and public for Land Acquisition Act. being out dated. No one would ask BJP or TMC who was partner in NDA, why was it not considered out dated then? I get a feeling that most political parties have been exposed. Their motives have been bared. If people have failed to see it and act,you can"t hold any one responsible what is happening today. Ultimately who is real loser ? It is common people who pay for misdeeds of politicians,interest groups,some activists. It is time for people to wake up and oppose what is going on. Land acquisition issues stall industrial parks in West Bengal The disputes have stymied six of the 13 such parks proposed by the state in the past five years Kolkata: A furore over forced land acquisition, which has halted several major industrial projects in West Bengal, has also slowed six of the 13 industrial parks, involving small and medium enterprises, proposed by the state in the past five years. September 2008 This year’s Diwali will be bittersweet for the people of West Bengal. October was supposed to be the month when the first Nano rolled off Tata Motors’ assembly line in Singur, a town of around 20,000 one hour’s drive from Kolkata. But a land dispute has suspended work at the site, raising serious doubts whether the “one-lahk” ($2,500) car will ever see the light of day. Although the dispute is ongoing, already many are drawing important lessons from the Singur fiasco. The conclusion? The communist-led government in Kolkata needs to seriously rethink its role in acquisition of agricultural land for industrial purposes.
The current crisis dates to May 2006 when Tata Motors announced it would set up a plant at Singur that would produce the low-priced Nano. The Mumbai-based automaker had been lured to West Bengal by the state government, which offered the company cheap land, generous loans and massive tax breaks. The government acquired around 1,000 acres of land for use by Tata and work on the site began at the beginning of 2007. As details of the agreement leaked out, some disgruntled landowners who had sold to the government had a change of heart and demanded that some of the land be returned to them. The dispute came to the boil in recent months and, despite several attempts at negotiations, no lasting agreement has been reached. As of Tuesday, Sept. 16, the situation remained in deadlock. “The suspension of our work at the site continues,” a spokesperson for Tata Motors wrote in an email message. While the specifics of the Tata Motors case are intriguing, the root of the problem lies deeper. And unless these fundamental reasons are addressed, once and for all, it is likely that West Bengal will continue to experience similar confrontations in the future. If left untreated, the symptoms could get worse, permanently damaging the state’s ability to attract—and keep—economic development projects. At issue is how land should be acquired from farmers for use by industrialists. At the best of times, this is a trying process throughout India. But it is especially problematic in West Bengal, where communists have ruled for more than three decades. A cornerstone of their policies was land reform. On coming to power, vast amounts of agricultural lands were taken from large, often absentee, landlords and transferred to small farmers. Today, 84% of the land is in their hands, a figure double the national average. In the future, more land will need to be switched from agricultural use to industrial use if the state is to have any hope of giving jobs to its growing population of young people. Anupam Ray, associate director of KPMG Advisory Services in Kolkata, expects the working population in West Bengal to grow by an additional 20 million between now and 2021. If the contribution made by manufacturing to the economy is not increased from the current 11%, a high rate of unemployment in the future “is not unrealistic,” wrote Mr. Ray in an email message. Creating a system that facilitates the smooth reallocation of land to accommodate economic development is going to remain a key challenge into the future. So far, the government’s performance has been disastrous. “Singur is a problem because the government did it,” said Pradeep Gooptu, resident editor at the Business Standard based in Kolkata. “The government should not be messing about with land. Instead, it should leave it to the farmer and the investor to work it out and buy through bilateral deals,” he said via telephone from Kolkata. Mr. Gooptu said there are several cases in West Bengal where private companies have successfully acquired land from farmers in a manner acceptable to all parties involved. For example, the acquisition of land by JSW Steel and by Indian electronics firm Videocon went smoothly thanks to a proper consultation process between the parties involved and appropriate financial compensation. Mr. Gooptu said the Singur incident has been a “wake up call” for the cadres in Kolkata. “They want to get out” of the land-acquisition process, he said. Yet 30 years in power means it is unlikely that the government will be willing to remove themselves totally from such an important aspect of economic development. If nothing, Singur should force it to reconsider its role. Perhaps the government could create an appropriate regulatory framework that would allow for the smooth exchange of land between farmers and industrialists. In this way, the government’s role would be that of facilitator, and not as negotiator. Failure to modify its stance could see only more headaches for the leaders of West Bengal as more and more would-be investors turn their backs and look elsewhere for opportunities less fettered by the hand of government. Mr. Murphy is deputy editor of the REVIEW. » 12/14/2005 14:22 Manoharpur (AsiaNews) – With the approval of the Justice Department, a group of Catholic priests is going ahead with a programme to promote pre-litigation conciliation that would avoid expensive legal fees to the poor. The scheme will start in the Manoharpur, a small village in West Bengal, about 160 kilometres from Kolkata. The Church initiative comes in the wake of the government decision to shelve a pre-litigation conciliation (shalishi) bill in the face of opposition pressure. It will enable people to settle minor issues without going to court. “Literacy among the poor in rural Bengal is low. Once the people there get embroiled in legal disputes, they lose peace for ever," said Fr Faustine Brank, an attorney who is also co-ordinator of the legal aid unit of the archdiocese of Kolkata (formerly known as Calcutta). According to Fr Brank, villagers wanted the priests to help them get over the never-ending property disputes and frequent disharmony in families. The priests picked Manoharpur for the project"s first run because the people there had first made such a proposal. Mgr Salvadore Lobo, Bishop of Baruipur in West Bengal, spoke to AsiaNews about the initiative. “Fr Faustine Brank is a priest of my diocese and a registered lawyer practicing in the Calcutta High Court," Bishop Lobo said. “As bishop in charge of social services in the diocese of West Bengal, I endorse the programme. Legal assistance is an important and urgent need here. The poor are drained of all their financial resources due to the avarice of the lawyers who unnecessarily drag their cases through lengthy litigation," he explained. “Here in West Bengal, most of the cases are family matters and land disputes. Settlements can take years and the poor are left destitute without any income," he added. “So the pre-litigation conciliation programme is an important ministry of justice and peace that the Church can offer and from which everyone can benefit." This is the html version of the file http://info.worldbank.org/etools/docs/reducingpoverty/doc/121/file/West%20Bengal%20PPT.ppt. Land Reforms in West Bengal Geography and demography of the state Situated in the Eastern Coast of India, bordering the states of Bihar and Orissa and the neighbouring country Bangladesh. 6. Area under food grains in 1999-2000 was 4.1 times the area under non food grains (cash crops and vegetables) 7. In 1999-2000, 92.6 per cent of total food grains production was in the form of rice. 8. In 2000, from administrative point of view West Bengal had 17 districts divided into 341 development blocks and 3248 cluster of villages having 40,911 villages (called Mouzas). History of Land Tenure West Bengal had a land tenure system known as Permanent Settlement which promoted absentee landlords called Zamindars The major movement of Sharecroppers to ensure 2/3rds share of crop was backed by the communists dominated Peasants organization All India Kisan Sabha (AIKS) Sharecroppers were the direct beneficiary. By implication the poorer sections of peasantry, namely, marginal and small farmers, benefited the most Data just before independence in 1945, did show that more than 1/3rd of operational area was under sharecropping. Number of Bargadars Registered 1.47 Million (64%) 1995 1.43 Million (62%) 1991 1.31 Million (57%) 1984 1.20 Million (52%) 1981 0.25 Million (11%) Up to 1978 (Pre OB) Cumulative Nos. Registered (Cumulative % to total) Year Share of West Bengal in implementation of distribution of ceiling surplus land among all major rice producing states in India as in March, 2001 States Per cent to National Total West Bengal 47.14 Andhra Pradesh 9.83 Uttar Pradesh 5.40 Tamil Nadu 2.62
1. Bringing Bureaucracy close to the Villages Replacement of traditional Revenue Court approach to register names of sharecroppers by the Rural Camp Method settlement records and peasants organisations b. Squads of Officers from Land Settlement and Land Management Branch formed
c. Dates of evening camps were settled d. Government Officials explained the benefits of registration of names e. Next day was reserved for claim verification f. Government officers recorded names of the sharecroppers and gave them certificates. They were entered into the village records later. Thus, essentially, quasi property rights were Bestowed upon registered sharecroppers
2. Delegation of financial and planning activities to Local Elected Government Local elected government have three tiers, known as ‘Panchayats’ Quantifiable Tasks of Panchayats To carry out central government funded schemes like Food for Work (aimed at creating off season jobs) or creation of non-farm rural assets. The major success was in the creation of unsurfaced rural roads and clearing of ponds and tanks. Role of conflict resolution in case of disputes regarding land, water and wages, as well as other social problems. From 1985 onwards, the panchayats enjoyed financial devolution and planning responsibilities. Impact on Poverty Distribution of Operational Holdings 32.4% 66.46% Area 78.2% 91.4% Number Below 2 hectares Below 2 hectares India West Bengal Year Regression Results for Causality for cultivators Having operational land below 2 hectares 1) Log(yield) = -0.144 + 0.289** log(roads) + 0.359* log(labour) + 0.370*inter 25, Adjusted R2 = 0.310
2) Log(yield) = 0.142 + 0.313** log(roads) + 0.292** log(labour) + 0.370***inter 20, Adjusted R2 = 0.248 Note: *, **, and *** refer to significant at 1, 5 and 10 per cent levels respectively
The strengths Strong Political will backed by historical support to peasant struggles of the Left parties Land dispossession especially of the redistributed landholders To sustain fruits of land reform, diversification of production base and increase in non-farm activities are a must. Along with that, serious thought to be given on strengthening of grass roots democracy. The “Special Economic Zone” Debacle of the Left Front in West Bengal Source : Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. Its January 2007 issue features the following editorial. — Ed. In an article entitled “Capital, Technology and Development,”1 Harry Magdoff, refuting the myth of bourgeois social science that capital and technology are the magic which will bring the entire world into the Garden of Eden, wrote: Since the obstacles to successful capitalist development (in third world countries) are today so gigantic, the pursuit of industrialization inevitably involves the accumulation of capital at the expense of keeping the masses down. Agriculture remains backward, investment is insufficient to cure unemployment in urban and rural areas, and wages are kept at pitifully low levels to provide adequate incentives for entrepreneurs. Production decisions are, and must be, made to satisfy the desires of the middle-and upper-income sectors of the population, those that have the money to buy. The technology introduced is the kind most favored by, and closely tied in with, foreign capital, since this is the technology best suited for profit-making and for squeezing into some of the interstices of foreign trade. Brazil is an outstanding example of what I am referring to. Brazil has been successful in taking a significant step forward in industrialization — one in which native capitalists have actively participated, along with foreign investors from a number of advanced capitalist states. With what consequences? The real wages of the working class have declined and the backward agricultural regions have remained stagnant and poverty-stricken.” Today, thirty years later, every word rings true for India. The global counter-revolution of these last thirty years has only added a more vicious aspect. It is only in these last few decades that global trade and capital flows — as a share of world production and savings, respectively — have again risen to the scale of the prior imperialist golden age that preceded the First World War. But this increased transnational dominance of the capitalist market (”globalization”) does not mean that national states — even those not of the imperial center — are becoming obsolete. Rather, ruthless state actions associated with neo-liberalism, policies designed to enhance “competitiveness” and “flexibility,” not just for individual firms but for whole national economies, are required. In India, the Special Economic Zone (SEZ) policy of the government, formulated in 2000, and brought fully into force in the SEZ act in February 2006, is a clear example of the brutal mobilization of the state for neo-liberal ends. Supposedly based on a Chinese model, in fact the SEZ act goes far further — a complete capitulation to imperial capital. It is sufficient to point out that the supposed Chinese “model” does not permit the sale of land to the corporate SEZ promoters and developers. Until September 2006, the Board of Approvals committee of the Ministry of Commerce had approved 267 SEZ projects all over India. Land area for each of these projects “deemed foreign territories” ranges from 1,000 to 14,000 hectares. Developers of large, multi-product zones with a minimum area of 1,000 hectares are required to utilize only 25 per cent of the SEZ for industrial purpose. The rest can be utilized for residential and shopping purposes, hotels, malls, and the other trappings of “development.” Moreover, the developers have a completely free hand to allocate space and other facilities within the zone on a commercial basis, in short for real estate business. It is estimated by some experts that in the first phase only, 375,000 acres of land will be required. The well known historian Sumit Sarkar, an author of Khaki Shorts and Saffron Flag — A critique of Hindu Right (Delhi: Orient Longman, 1993), commented that “this is liable to create one of the greatest land grabs in modern Indian history.” India has never before witnessed the coerced transfer of hundreds of thousands of hectares of agricultural land to private industry — and private real estate speculators. Within the SEZ the trappings of Indian bourgeois democracy fade. The central government’s “Development Commissioner” is delegated the powers of the labor commissioner. All suits of civil cases and even specified criminal offenses that arise in the SEZ shall be tried in special courts. These corporate Guantanamos also offer formidable fiscal “incentives”: exemption from custom duties, central excise duties, service tax, central sales taxes, and securities transaction tax to both the developers and the units; and tax holidays for fifteen years, including one hundred per cent income tax exemption for ten years of the fifteen for SEZ developers. And at the root of this gigantic theft is the seizure of the land for these global capitalist profit zones from the cultivators through state coercion via the British colonial Land Acquisition Act. Even “consensual” transfers are therefore coerced, since use of the Land Acquisition Act looms behind the shoulder of the governmental “negotiator.” It should be no surprise then that there has been a great rush to create SEZs in the year since the act was passed. Into the situation created by this initiative of Chidambaram " Co. the Left Front government of West | |
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