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Jyoti basu is dead

Dr.B.R.Ambedkar

Monday, July 20, 2009

TERROR CURVE Sharpest to ENVELOP Hillary Arms and MONSOON Premier of Drought and the Winning Pack

TERROR CURVE Sharpest to ENVELOP Hillary Arms and MONSOON Premier of Drought and the Winning Pack

Troubled Galaxy Destroyed Dreams, chapter 290

Palash Biswas


General Kapoor to visit US from July 20-25

Sify - ‎Jul 16, 2009‎
Taking Indo-US strategic partnership to a higher level for synergized and concerted efforts to combat the scourge of global terrorism and to bring peace and ...

First day on job, US envoy Tim Roemer meets Menon

Times of India - ‎Jul 17, 2009‎
She also reiterated the Obama administration's commitment to the Indo-US civil nuclear agreement but said she would like to discuss with Indian leaders the ...

'Partnership with US vital to achieve developmental goals'

Hindu Business Line - ‎Jul 13, 2009‎
She said that Indo-US relations have undergone a historic transformation over the course of the past decade. Ms Shankar said both the US President, ...
Embassy Row Washington Times


Market Watch
         
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Sensex Nifty
http://profit.ndtv.com/2009/07/14230452/India-Incs-rain-hopes.html

70 p.c. of defence equipment being imported, says Antony

New Delhi (PTI): Defence Minister A K Antony on Monday said it was "unfortunate and painful" that 70 per cent of defence equipment was still being imported and informed the Lok Sabha that government was working towards manufacturing state-of-the-art equipment indigenously.

"It is unfortunate and painful that 70 per cent of defence equipment is still being imported," he said during the Question Hour.

Mr. Antony said till India reached a stage where it could provide state-of-the-art equipment, it would have to rely on imports. "If Indian products are not of state-of the art quality, using them would be dangerous," he said.

The defence minister said his ministry had decided to accord first priority to Indian public and private companies which are able to provide such equipment.

In reply to a question on whether there was a time-frame by when India would become self-sufficient in defence production, Mr. Antony hoped the process would be "speeded up".

He said the procurement policy would be reviewed annually.

Minister of State of Defence, Vincent Pala conceded that there were deficiencies in bullet proof jackets but said these were not "sub-standard".

On the issue of delay in buying defence equipment, Mr. Antony said a committee has been constituted for the purpose and given financial powers which were till now vested with the defence minister.

"We should understand that we are a democracy and have a system and procedure (for procurement of weapons)," he said, responding to Naveen Jindal (Cong) who said the forces were still using World War II vintage weapons while Pakistan and Bangladesh had better arms.

In reply to a query by Lalu Prasad (RJD), Mr. Antony said there was an "inordinate delay" in starting the Ordnance Factory set up at Rajgir in Bihar during the NDA regime, but added that it would be expedited now.

tates Affected by Drought
States Affected by Drought
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NEW DELHI -- There are no signs of drought in India despite below-normal monsoon rains, a senior meteorological official told the CNBC-TV18 television channel Tuesday.

"July is the rainiest month in terms of quantity. If we get more than 90% (of long period average), it will be good," said A. Mazumdar, a senior official of the India Meteorological Department.

India's four-month-long annual monsoon is crucial for summer-sown crops as 60% of the agricultural area is rain-fed.

Write to Dow Jones Newswires editors at asknewswires@dowjones.com

http://online.wsj.com/article/SB124754824791737459.html

No plan for drought-proofing the economy

17 Jul 2009, 0151 hrs IST,

In June, from peasants to the prime minister's office, everyone was praying for rains. In July, their prayers seem to be heard, and some catching

up of delayed monsoon has occurred. But still, the cumulative rainfall of the country from June 1 to July 9, was deficient by 34% from its Long Period Average (LPA) of 89 cms measured over a fifty-year period of 1941-90.

It is strange that while we boast of resilience of Indian economy from global financial shocks, yet a 15-day delay in monsoon can send jitters to policymakers. The reason for this paradox is the huge under-investment in water resources, as also the almost complete lack of institutional and pricing reforms in the water sector, including power for irrigation.

Indian agriculture is still considered a gamble in monsoons as about 60% of cropped area remains rainfed. This need not be so, and the fate of Indian peasants can change in just five years if the policymakers decide to scale up investments in the irrigation sector, from rainwater harvesting schemes to small and medium, and even large, irrigation schemes to, say, Rs 40,000 crore a year for the next five years, as has been done for National Rural Employment Guarantee Act (NREGA) programme.

The reason is that there are more than 400 irrigation projects waiting to be completed, which need a total investment of more than Rs 200,000 crore. But the budget allocation under Accelerated Irrigation Benefit Programme for 2009-10 is only Rs 9,700 crore.

No wonder, at this pace, Indian peasants will keep looking up to the sky for the next 20 years. Enhanced budget allocations alone will not solve the problem. The irrigation sector needs a major dose of institutional and price reforms to "tame the anarchy".

Unfortunately, there is no such vision, no priority, and there is no solid agenda on the table towards drought-proofing the economy. The proposal for inter-linking of rivers has been gathering dust for years. No wonder then Indian agriculture remains hostage to the vagaries of monsoons.

(Ashok Gulati, Director in Asia, International Food Policy Research Institute)
http://economictimes.indiatimes.com/ET-Debate/No-plan-for-drought-proofing-the-economy/articleshow/4787252.cms

Effective monsoon-governing strategy missing

17 Jul 2009, 0153 hrs IST,

As the demand for water in India is increasing from 634 BCM (billion cubic metres) in 2000 to 813 BCM in 2010, 1443 in 2020, our dependence on

monsoon will be increasing manifold in the years to come.

Thus there is a need for serious policy planning to meet and manage the requirement in the face of frequent deficient monsoon. Demand-side management strategy is needed for rationalising water use patterns and address the problem of monsoon dependency.

While dependence cannot be eliminated, it may be possible that appropriate interventions in technology, socio-economic and geo-political spheres can address the negative impact.

The monsoon rainfall is the major source of irrigation (70% water for agriculture, 22% for industry and 8% for urban areas), yet its major portion is being wasted due to lack of water holding capacity in the traditional rain water harvesting structures.

Under the circumstances, carefully designed investment strategy on low-cost but effective watershed management, restoration and management of natural water bodies with the help of peoples' participation would go a long way in mitigating the impact of monsoon.

The solution to minimising the dependence on the monsoon lies in an effective monsoon- governance strategy such as proven forewarning systems and rainfall forecasting, institutional setup to ensure timely and assured input-output delivery system including seed system, rural credit and crop insurance.

There should be an enabling environment and capacity to develop and adopt water-saving mechanisms such as drip irrigation, fertigation and other moisture conserving practices.

The promotion of resource conserving practices is essential for ensuring sustainable food production given the uncertain monsoon. The system of rice intensification, hybrid rice, aerobic rice, zero tillage, direct seeding rice practices, etc, are notable here.

Since the small farmers are unable to invest in irrigation infrastructure, the government plays a big role in fulfilling the social responsibility. The lesson learnt from shallow tube well schemes in Assam is worth mentioning in terms of impact management —— which transformed the perpetual deficit state to a surplus rice-producing state.

(B C Barah, Principal Scientist, National Centre for Agricultural Economics and Policy Research, New Delhi)
http://economictimes.indiatimes.com/Opinion/ET-Debate/Effective-monsoon-governing-strategy-missing/articleshow/4787256.cms

Prepare for drought

Economic Times - ‎16 hours ago‎
If July witnesses good rainfall across north India, the kharif crop will recover substantially. If, however, July rainfall is seriously deficient for the ...

Monday Market Monitor - India (WEEK 29) - Drought continues

SteelGuru - ‎11 hours ago‎
Another factor, which may affect long product market in India, is the likely shortage of power due to reduced hydro generation, which would put small ...

MP drought-hit

IBNLive.com - ‎Jul 9, 2009‎
... the intensity is expected to increase and if that happens, then Sharad Pawar's confidence that there will be no drought in India will not be misplaced. ...

No Signs of Drought in India

Wall Street Journal - ‎Jul 13, 2009‎
NEW DELHI -- There are no signs of drought in India despite below-normal monsoon rains, a senior meteorological official told the CNBC-TV18 television ...

Fleeting Rains, Looming Drought to Hit Main Crops

Wall Street Journal - Rajesh Roy - ‎7 hours ago‎
Associated Press Farmers sprinkle fertilizers on their rice crop on the outskirts of Amritsar, India, Wednesday, June 24, 2009. Area under summer-sown crops ...

Rains forecast in India's sugarcane, rice areas

Reuters India - Himangshu WattsJohn Mair - ‎3 hours ago‎
An unusually dry June, which saw the lowest rainfall in more than eight decades, followed by below-normal rains in early July led to fears of drought, ...

A primer on droughts

Economic Times - Nidhi Nath Srinivas - ‎Jul 18, 2009‎
Maharashtra alone has about a quarter of India's drought-prone districts. About 50 million Indians are affected every year. Climate change is accelerating ...

Woe of seven sisters: northeast heading for drought?

SINDH TODAY - ‎8 hours ago‎
Agartala/Shillong, July 20 (IANS) In India's northeast it has rained a little, but way too little. The weatherman has no pleasant news for states in the ...

Mahindra Holidays lists up 7 pct, ends IPO drought

Reuters India - ‎Jul 16, 2009‎
... as investors cheered the end of a 15-month drought in initial public offers (IPOs). Shares of Mahindra Holidays & Resorts India Ltd (MAHH. ...

Opposition wants drought declared

Hindu - ‎Jul 15, 2009‎
His demand for a discussion on drought was backed by Mulayam Singh of the Samajwadi Party and Basudeb Acharia of the Communist Party of India (Marxist), ...


1 2 3 4 5 6 7 8 9 10 Next

Main Mumbai suspect pleads guilty

Mumbai gunman, identified as Mohammed Ajmal Amir Qasab
Mohammed Ajmal Amir Qasab opened fire on commuters, it is alleged

The leading suspect in last November's deadly attacks in the Indian city of Mumbai (Bombay) has pleaded guilty.

Mohammad Ajmal Amir Qasab stood up before the court to say he admitted his role in the killings.

Mr Qasab, who is a Pakistani, faces 86 charges, including waging war on India, murder and possessing explosives.

It is not clear why he changed his plea after pleading not guilty in May to all charges. More than 170 people died in the attacks, nine of them gunmen.

Prosecutors say Mr Qasab is the sole surviving attacker.

He could face the death penalty if his confession is accepted and judges agree to impose the maximum penalty.

'Shocked'

The BBC's Prachi Pinglay, who was in the courtroom in Mumbai, said Mr Qasab appeared calm.

INSIDE COURT
Prachi Pinglay
Prachi Pinglay
Mumbai

Mohammad Ajmal Amir Qasab appeared very calm in court, smiling a number of times as his confession was being recorded. Now Pakistan has accepted he is a Pakistani national he wanted to confess, he told the court.

Mr Qasab spoke lucidly for several hours, giving specific details of names of people he had met, the kind of training he had received and weapons he had used. He talked about his family and named his two brothers and two sisters.

The judge will now meet prosecution and defence teams to hear their views about the change of plea. Legal experts say it is still not clear if the trial is over.

He said there had been no pressure on him to confess and it had been his decision to do so.

"I request the court to accept my plea and pronounce the sentence," he told the judge, smiling.

Prosecutor Ujjwal Nikam said: "We were not expecting this. We were all shocked when he made a plea of guilt.

"It is for the court to decide whether to accept his plea or not. It was all of a sudden. The court is now recording his plea."

Shortly afterwards Mr Nikam told the BBC the confession was "a victory for the prosecution".

During his testimony, the suspect gave details of his journey from Pakistan, the attacks at a historic railway station in Mumbai and the city's Cama hospital.

Mr Qasab's lawyer said he had nothing to do with the confession.

It is not fully clear what prompted Mr Qasab to change his plea.

He said he had done so because Pakistan had finally admitted he was a Pakistani citizen, but that was some time ago.

Police say Mr Qasab confessed before a magistrate to the attacks after his arrest, but he retracted that confession at an early hearing.

His lawyers said then that it had been coerced.

Wept in court

Mohammad Ajmal Amir Qasab, 21, was arrested on the first day of the attacks and has been in Indian custody ever since.

MAIN QASAB CHARGES
Waging war on India
Murder
Conspiracy to murder
Destabilising the government
Kidnap
Robbery
Smuggling and possessing illegal arms and explosives

In his initial appearances before the court, Mr Qasab appeared relaxed and smiled and grinned.

But more recently, he broke down and wept in court as a witness recounted the violent events which took place over three days in late November.

The attacks led to a worsening of relationship between India and Pakistan.

India accused Pakistan-based fighters from the banned militant group Lashkar-e-Taiba of carrying out the attacks.

In the immediate aftermath of the killings, Pakistan denied any responsibility, but later admitted the attacks had been partly planned on its soil.

Islamabad also eventually admitted that Mr Qasab was a Pakistani citizen.


RELATED INTERNET LINKS
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FROM OTHER NEWS SITES
Jerusalem Post Lone surviving Mumbai-attacks gunman admits guilt - 1 hr ago
AFP via Yahoo! Surviving Mumbai gunman in dramatic guilty plea - 1 hr ago
Reuters India Kasab pleads guilty - 1 hr ago
Washington Post Lone Surviving Mumbai Gunman Admits Guilt - 2 hrs ago
Mail Online UK Mumbai terror attack gunman makes dramatic courtroom confession - 3 hrs ago


News feeds| News feeds

http://news.bbc.co.uk/2/hi/south_asia/8158741.stm

Drought in India

From Wikipedia, the free encyclopedia

Jump to: navigation, search
The dry bed of the Niranjana River, Bihar.

Drought in India has resulted in tens of millions of deaths over the course of the 18th, 19th, and 20th centuries. Indian agriculture is heavily dependent on the climate of India: a favorable southwest summer monsoon is critical in securing water for irrigating Indian crops. In some parts of India, the failure of the monsoons result in water shortages, resulting in below-average crop yields. This is particularly true of major drought-prone regions such as southern and eastern Maharashtra, northern Karnataka, Andhra Pradesh, Orissa, Gujarat, and Rajasthan.

Contents

[hide]

[edit] History

In the past, droughts have periodically led to major Indian famines, including the Bengal famine of 1770, in which up to one third of the population in affected areas died; the 1876–1877 famine, in which over five million people died; and the 1899 famine, in which over 4.5 million died.[1][2]

[edit] Impact of El Niño

All such episodes of severe drought correlate with El Niño-Southern Oscillation (ENSO) events.[3][4] El Niño-related droughts have also been implicated in periodic declines in Indian agricultural output.[5] Nevertheless, ENSO events that have coincided with abnormally high sea surfaces temperatures in the Indian Ocean—in one instance during 1997 and 1998 by up to 3 °C (5 °F)—have resulted in increased oceanic evaporation, resulting in unusually wet weather across India. Such anomalies have occurred during a sustained warm spell that began in the 1990s.[6] A contrasting phenomenon is that, instead of the usual high pressure air mass over the southern Indian Ocean, an ENSO-related oceanic low pressure convergence center forms; it then continually pulls dry air from Central Asia, desiccating India during what should have been the humid summer monsoon season. This reversed air flow causes India's droughts.[7] The extent that an ENSO event raises sea surface temperatures in the central Pacific Ocean influences the degree of drought.[3]

[edit] See also

[edit] References

  • Allaby, M (1998), Floods, Facts on File, ISBN 0-8160-3520-2.
  • Allaby, M (2002), Encyclopedia of Weather and Climate, Facts on File, ISBN 0-8160-4071-0.
  • Balfour, E (1976), Encyclopaedia Asiatica: Comprising Indian Subcontinent, Eastern and Southern Asia, Cosmo Publications, ISBN 8170203252.
  • Burroughs, WJ (1999), The Climate Revealed, Cambridge University Press, ISBN 0-521-77081-5.
  • Caviedes, C (2001), El Niño in History: Storming Through the Ages, University Press of Florida, ISBN 0-8130-2099-9.
  • Chouhan, TS (1992), Desertification in the World and Its Control, Scientific Publishers, ISBN 8-1723-3043-X.
  • Collier, W & R Webb (2002), Floods, Droughts and Climate Change, University of Arizona Press, ISBN 0-8165-2250-2.
  • Heitzman, J & RL Worden (1996), India: A Country Study, Library of Congress (Area Handbook Series), ISBN 0-8444-0833-6.
  • Nash, JM (2002), El Niño: Unlocking the Secrets of the Master Weather Maker, Warner, ISBN 0-446-52481-6.
  • Posey, CA (1994), The Living Earth Book of Wind and Weather, Reader's Digest Association, ISBN 0-8957-7625-1.
  • Singh, VP; CSP Ojha & N Sharma (2004), The Brahmaputra Basin Water Resources, Springer, ISBN 1-4020-1737-5.

[edit] Citations

  1. ^ Nash 2002, pp. 22-23.
  2. ^ Collier & Webb 2002, p. 67.
  3. ^ a b Kumar KK, Rajagopatan B, Hoerling M., Bates G, Cane M (2006). "Unraveling the Mystery of Indian Monsoon Failure During El Niño". Science 314 (5796): 115–119. doi:10.1126/science.1131152. 
  4. ^ Caviedes 2001, p. 121
  5. ^ Caviedes 2001, p. 259.
  6. ^ Nash 2002, pp. 258-259.
  7. ^ Caviedes 2001, p. 117.

[edit] Further reading

  • Toman, MA; U Chakravorty & S Gupta (2003), India and Global Climate Change: Perspectives on Economics and Policy from a Developing Country, Resources for the Future Press, ISBN 1-8918-5361-9.

[edit] External links

 


TERROR CURVE Sharpest to ENVELOP Hillary Arms!

With Clinton's nuclear assurance; India, US to hold reprocessing talks!

uly 19th, 2009 - 3:51 pm ICT by IANS Tell a Friend -

Manmohan Singh By Manish Chand
New Delhi, July 19 (IANS) With Secretary of State Hillary Clinton making it clear that the future of the India-US nuclear deal is secure despite the G8 declaration on the transfer of sensitive technologies, the two countries will hold talks in Vienna next week on reprocessing American-origin spent fuel.

Undeterred by the G8 declaration this month on banning the transfer of enrichment and reprocessing (ENR) technologies to those countries that have not signed the Nuclear Non-Proliferation Treaty (NPT), India is likely to announce two sites for American nuclear reactors after Clinton's talks with External Affairs Minister S.M. Krishna here Monday.

These sites are likely to be in Andhra Pradesh and Gujarat, reliable sources told IANS.

In another important step to implement the India-US civil nuclear accord signed last year, Indian and American officials will hold talks in Vienna July 21 to reach an agreement on arrangements and procedures for reprocessing spent fuel.

With the difficult experience of the US-assisted Tarapur reactor in the past, India wants to ensure there are no glitches this time round on the issue of reprocessing.

The negotiation on reprocessing to be done in a safeguarded facility in India, according to the 123 agreement, has to be completed within a year after it begins.

Richard Stratford, director of the Office of Nuclear Energy Affairs in the State Department, will lead the American side. A five-member technical committee will be headed by R.B. Grover, director (strategic planning group) in the Atomic Energy Commission.

The US is understood to have handed to India a draft earlier this month that could form the basis for the Vienna talks.

The transfer of sensitive reprocessing technologies is currently barred under the US law save for exceptions like Japan.

With the G8 declaration at the L'Aquila summit banning the export of the sensitive ENR technologies, India will seek clarifications on the reprocessing issue from the US when Prime Minister Manmohan Singh and External Affairs Minister Krishna meet Clinton.

India has said it will go by a country-specific clean waiver it has received from the International Atomic Energy Agency (IAEA) and the Nuclear Suppliers Group (NSG).

In an interview to the Times Now after landing in Mumbai Thursday, Clinton stressed that "the civil nuclear deal stands on its own merit".

"No. I worked hard to pass the India-US civil nuke deal and am very committed to it and its implementation," Clinton replied when asked if the nuclear deal will be held hostage to India signing the Comprehensive Test Ban Treaty (CTBT).

Clinton, however, stressed that the US will seek India's help in preventing the proliferation of nuclear technologies to non-state actors and countries like Iran and North Korea.


S Secretary of State Hillary Clinton Monday called on Congress president Sonia Gandhi at her residence here and discussed several issues, including cross-border terrorism and Indo-US relations.

Clinton went to Gandhi's residence at 10, Janpath, after meeting Bharatiya Janata Party (BJP) leader L.K. Advani.


Sonia Gandhi's son, Congress general secretary Rahul Gandhi, was also present during the meeting.

Sonia Gandhi, who is also chairperson of the ruling United Progressive Alliance (UPA), voiced optimism about the future of India-US relations and expressed concern on the use of terrorism by Pakistan against India, according to party sources.


Earlier in the day, Clinton for met Prime Minister Manmohan Singh, who hosted her to a lunch.


Is India winning or losing? We live in an age of manias and phobias. ... ranging from a nation of caste-bound and poverty-ridden pack of ... cannot start before it becomes abundantly clear that New India means business!

Rains have always played an important role in the Indian economy. Between the two monsoon seasons – the south-west monsoon (June-September) and the post monsoon/north-east monsoon (October-December) – the focus usually centres on the former, as it accounts for about 80% of India's total rainfall.

In the past two decades, most of the major droughts were caused by deficient rainfall in July, usually the wettest month of the south-west monsoon.

Such deviations have adversely affected agricultural production, and therefore overall GDP growth. In recent years, 2002 was one of the worst droughts, as grain production declined, dragging down agricultural growth significantly.


This Monsoon, India has a GUEST who sells US ARMS and WARS !
The SUPER Sales woman has everything in her purse infinite! Wars and civil wars, foreign relations, environment, climate, woman and child welfare, education, shining India dream and India to be Nuclear super Power!

What a Monsoon!

This MONSOON, in fact the HORRIBLE Premier of DROUGHT, has focused on Indo Us Nuke deal, Defence Pacts, Arms bargain, strategic Realliance in US Israel Lead, War against Terror, Indo Pak USA Triangular instead of Climate, Weather and Harvest! It is quite different for us!


For a person like me who was born and brought up amidst Himalayan Monsoon, it is rather the Experience to be amidst some THRILLER of a dreading Horror Film!


I grew up as a helping hand in a Peasant family in the Terai! My people, the Bengali Refugges from east Bengal, had been trown in the  Dense Forest of plague, malaria, wild animals in nainital Terai! I opened my eyes and saw the Jungle around me which hosted Gim Corbett once upon a time!

I had never been in East Bengal and I have no idea what meant monsoon for my ancestors! But I had the feeling while I invested the best of my childhood time to help my family working hard day and night in our fields during Rain as well as heat!

We never experienced DROUGHT there but we had to encounter Heavy Rain during Monsoon and we ENJOYED it every time! We used to swim in our fields! It often rained for almost a week! But we never faced any FLOOD! Floods were introduced with Intense Deforestation and Big Dams later!

Even my student life is full of MONSOON Memories, Rain and rain, Land slides and Romance!


But MONSOON has changed with Global warming and climate Change in this part of the GLOBE! Rivers have been sold out! Big Dams stops the Lifelines from my Home, the Himalayas!

Former FIRST Lady of United States of America has rather INTRODUCED a DIFFERENT Monsoon EXPERIENCE!

Meanwhile,Opposition parties on Monday slammed the government for ignoring the interests of farmers and said funds allocated in the General Budget for agriculture ministry were not sufficient.

Participating in the debate on demands for grants for the Agriculture Ministry, Rewati Raman Singh (SP) said farmers in Maharashtra, Kerala and Karnataka were committing suicide despite the loan waiver announced by the Centre.He claimed children of farmers were not ready to take up the profession and were ready to work as peons.


Mr. Singh said while 58 per cent of country's population was involved in agriculture and related activities, the government has neglected the farmers.He said in the absence of cold storage facilities, 40 per cent of fruits and vegetables were getting damaged.


The SP member suggested that the government set up bio-fertiliser plants in both public and private sector to help farmers get sufficient fertilisers.


He also demanded a 'white paper' on the condition of agriculture sector in the country.


Vijay Bahadur Singh (BSP) lamented that while 62 per cent of the population was dependent on agriculture, the budgetary provisions were a mere one per cent. "For 62 per cent people you provide only one per cent, and for the rest 38 per cent the allocation is 99 per cent," he added.



Those were the days while MONSOON meant Culture, Folk, Songs, dance, Literature, Poetry, Love and Romance! Now, it is associated with Repression, Ethnic cleansing, SELL Off, Big Projects to feed the Killer machine, Retail chain, Displacement and Exodus, Freesensex and GROWTH Rate! monsoon remains the bandles of hard datas and False Statics as the Inflation Rate anouncements!

The Bombay Stock Exchange benchmark Sensex on Monday regained the 15,000 level by gaining nearly 272 points in opening trade, extending last weeks' gains on increased capital inflows by foreign funds, supported by better-than-expected earnings by some blue-chip companies.

Firm Asian equity markets also supported the rally.

The 30-share index again breached 15,000 points level to trade 271.83 points, or 1.45 per cent higher at 15,016.75 points in the first five minutes of trade, a level last seen on July 6. The sensex had surged by nearly over 9 per cent last week.

The wide-based National Stock Exchange index Nifty moved up by 78.50 points, or 1.53 per cent to 4,453.45 points.

Stock brokers said announcement of better-than-expected quarterly results by some blue-chip companies this earning season so far mainly buoyed the trading sentiments, sparked-off buying activity.

They said firming global cues after positive US housing data also influenced the domestic markets' sentiments.

Shares of oil and gas, power, realty and IT sectors were in good demand, attributing major support to the Sensex.

Reliance Industries stocks were in keen demand and shot up by 3.44 per cent to Rs 2,020 as the Supreme Court begins hearing a case related to a gas pact between the RIL and RNRL.



Thus BLOOMBERG.COM reports:

India Rain Deficit to Narrow, Aiding Crop Sowing (Update1)
Share | Email | Print | A A A

By Thomas Kutty Abraham

July 16 (Bloomberg) -- India's monsoon deficit will drop below 20 percent by end of this month as rains increase, easing a dry spell that's dented sowing of crops in the world's second- biggest producer of rice, wheat and sugar.

The shortfall for the season started June 1 narrowed to 27 percent as of yesterday from 45 percent last month, the India Meteorological Department, said. Falls were 6 percent more than the long-period average for the week ended July 15, the first weekly surplus this year, the weather office said.

Rains have intensified since July 8, helping allay fears of a drought undermining Prime Minister Manmohan Singh's efforts to push economic growth back to a 9 percent pace. A deficit of as much as 50 percent earlier this month in the northwest region, the nation's grain bowl, has dimmed prospects for bigger crops of rice, oilseeds and sugar cane.

"The good news is that the current active phase of the monsoon has helped alleviate drought fears," D. Sivananda Pai, a director at the weather bureau said in a phone interview from Pune today. "Most parts will continue to receive good rains, though the northwest remains a bit of a concern."

The formation of a low-pressure weather system over the Bay of Bengal may bring more rain starting July 20, A.B. Mazumdar, deputy director general at the weather office, said today from Pune. The current spell across paddy, oilseeds and cane growing areas will persist for at least two days, he said.

India got 220.5 millimeters (8.68 inches) of rains between June 1 and July 15, compared with the 50-year average of 300.8 millimeters, the weather bureau said. Falls were deficient in 22 of the 36 weather divisions, down from 25 in the previous week.

Rice Crop

Area planted to rice in the past week has risen 76 percent from the previous week, Farm Minister Sharad Pawar said in New Delhi today. That compares with a 20 percent drop in crop area to 7.43 million hectares on July 10.

"Rains have improved in the last one week and there seems to be no shortage in sowing of paddy," Pawar told reporters.

The monsoon is the main source of irrigation water for the nation's 235 million farmers as more than half the crop land isn't irrigated. Sowing begins in June and ends mostly by July.

An El Nino that's forming over the Pacific Ocean may not impact the June-September rains, Pai said. The weather event, which occurs about every four to seven years, causes dry weather conditions in many Asian countries.

"By the time the El Nino phenomenon peaks, a better part of the monsoon would have been over," he said. "It may impact the last leg of the rains in September."

India got below normal rains in 15 of the 36 El Nino years it had in the 1875-2008 period, the weather office said June 24.

Showers this season may be below normal, or 93 percent of the long-period mean of 89 centimeters (35 inches), the bureau said last month. In April, it forecast rains to be near normal.

To contact the reporter on this story: Thomas Kutty Abraham in Mumbai at tabraham4@bloomberg.net.


http://www.bloomberg.com/apps/news?pid=20601091&sid=aEwjnzeLyJVg

And see this:

Monsoon picks up; govt says no need to panic

Wed Jul 15, 2009 8:57pm IST
 
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By Mayank Bhardwaj and Rajesh Kumar Singh

NEW DELHI (Reuters) - India has a contingency plan if annual monsoon rains remain below normal and there is no need panic, the finance minister said on Wednesday.

India has suffered the worst start to the vital monsoon in eight decades, raising fears of a drought in a country where only 40 percent of farmland is irrigated.

But the rains have picked up from a shortfall of 34 percent of the long-term average in the June 1-July 9 period, to 29 percent between June 1 and July 14, weather officials told Reuters.

The weather office on Wednesday forecast rains in key cotton, rice and soy regions, including widespread precipitation in the next 48 hours in central India, boosting the soybean crop.

"There has been some concern on the progress of the monsoon. As I mentioned earlier, the government is monitoring the situation," Finance Minister Pranab Mukherjee told parliament.

India was ready to implement a contingency plan, he said, but did not elaborate.

"At the same time I would not like to press the panic button," he added.

Flash floods triggered by heavy monsoon rains have killed 15 people in Orissa, but in Assam and Manipur authorities have declared droughts after scant rain.  Continued...

http://in.reuters.com/article/specialEvents1/idINIndia-41056020090715


US Secretary of State Hillary Clinton has met Indian Prime Minister Manmohan Singh and other top leaders, as part of her visit to the country.


Indian relations with Pakistan are thought to be high on the agenda, along with education and technology.


The countries are also expected to sign deals on arms sales and the building of US-funded nuclear plants.


Correspondents say the visit aims to show the US is committed to broadening its ties with Delhi.

Addressing students at Delhi University ahead of the talks, Mrs Clinton said the US wanted to "deepen our strategic understanding" with India and find more common ground.


As well as Mr Singh, Mrs Clinton has held talks with the leader of the opposition, Lal Krishna Advani.


Drought threat is looming large over north India. Punjab, Uttar Pradesh, Haryana, Rajasthan and Jammu and Kashmir have received only half the normal amount of rain that they get by this time of the year..Though hard data on the India economy continues to improve, uncertainty over the monsoons is weighing on sentiment!

As per the latest report released by the Indian Meteorological Department (IMD), the cumulative seasonal rainfall for the country as a whole from 1 June to 9July was 34% below the long period average (LPA) – if rainfall is below 10% of the LPA it constitutes a drought.

More importantly, the distribution remains highly skewed, with the north-west region of the country being the worst hit.

Specifically, the important crop-producing states such as Uttar Pradesh, Uttrakhand, Haryana, Chandigarh, Delhi, Punjab, Himachal Pradesh, and Gujarat region have witnessed rainfall deficiency of 60% or more.

If the situation does not improve, it will have an impact on agricultural growth, economic activity, fiscal deficit, inflation, and overall market sentiment. We have analyzed the impact of such events in the past to better understand the probable effect on the economy should the monsoons turn out to be detrimental.

In the event of a drought, adverse impact on growth and inflation is inevitable. But the effects should be relatively less severe than in prior years


A drought in India's major tea growing region has led to a dramatic fall in production during the first quarter of the year, industry officials said Sunday.


Tea growers in the northeastern state of Assam say they produced 12,000-15,000 tons less tea in the first quarter than in the same period last year because of insufficient rain, said Dhiraj Kakati, head of the Assam Branch Indian Tea Association.


Assam and neighboring states account for more than 70 percent of the more than 1 million tons produced by India's $1.5 billion tea industry.


The BBC's Sanjoy Majumder in Delhi says that publicly Mrs Clinton has insisted that what Pakistan and India do is completely up to them.


However, he says that everyone in Delhi is clear that it was pressure from Washington that pushed the countries to hold talks in Egypt last week.


Pakistan-India relations dominated Mrs Clinton's visit to Mumbai on Saturday, in the wake of attacks on the city last November that left more than 170 people dead.


India blamed Pakistan-based militants for the attack. Much of the US focus in the region has been on countering militancy in Pakistan and Afghanistan.


India's junior foreign minister, Shashi Tharoor, told the BBC that Delhi and Washington shared similar concerns on security.


"We believe that terrorism of any stripe needs to be tackled firmly and we believe Washington is on the same page as us," he said.


BBC reports:


Climate disagreements

Mrs Clinton is spending three full days in India. She departs on Tuesday.

On Sunday, talks in Delhi focused on climate change, which remains a sensitive subject for developing countries such as India and China, which have so far refused to commit to carbon emissions cuts in a new treaty.

Hillary Clinton and LK Advani
Ms Clinton has also met opposition leader Lal Krishna Advani

Mrs Clinton also sought to assure India the US would not try to impose conditions that might affect India's economic growth.

But Indian Environment Minister Jairam Ramesh said his government could not accept targets that would limit economic growth.

India argues the US must do more as it has been historically to blame for the emissions.

Mrs Clinton later told reporters she was optimistic a deal on climate change could be reached.

The key date for climate change is December - when a summit in Copenhagen will look to forge a new international treaty that will replace the Kyoto Protocol, which expires in 2012.



Meanwhile,Activists of Socialist Unity Centre of India (SUCI) held a demonstration in the national capital, on Wednesday over irregularities in the distribution of Below Poverty Line (BPL) social security cards.Scores of SUCI activists marched to Delhi state secretariat, raising slogans against the government, alleging that Delhi government is laidback in issuing BPL cards.


"Today our main demand is that people of this (Delhi) region that are living Below Poverty Line (BPL) have not yet received BPL cards. Many people have applied for these cards but so many years have passed and they are yet to receive BPL cards," said Pratap Samal, State Secretary of SUCI.


"People who have given cards for renewal have not received them back," Samal added.


Meanwhile, a member of parliament belonging to SUCI alleged that BPL cards are being issued to people living above poverty line, which is a gross misuse of the facility.


"Taking the Below Poverty Line (BPL) cards there are lots of delay dealings, there are lots of corruption and there are nepotism. Those parties who are in power either in the state or the central government they are using these BPL cards for Above Poverty Line (APL)." said a member of parliament of SUCI.


"The real people are not getting the BPL facilities," the member added.

BPL cardholders are entitled to get subsidised food grains from the government.

Standard Chartered Bank has said that the country's growth this fiscal could dip to 6 per cent in the case of a drought but the

government's fiscal measures should prevent it from falling further.

"...growth could dip to below 6 per cent (we forecast 6.4 per cent for FY'10) in the event of a drought, support from fiscal measures should prevent it from falling more dramatically," Standard Chartered Bank said in a report.

It further said that a slowdown in personal consumption expenditure, which contributed 55 per cent of overall GDP in the last fiscal, is inevitable, should the rains fail, as the agriculture sector employs 52 per cent of the total labour force.

It added that drought would also have an adverse effect on the industrial sector.

As per the latest report released by the Indian Meteorological Department (IMD), the cumulative seasonal rainfall for the country as a whole from June 1 to July 9 was 34 per cent below the long period average (LPA). A rainfall below 10 per cent of the LPA constitutes a drought, the report said.

Recently, the Centre for Monitoring Indian Economy (CMIE),an economic think-tank, has revised down India's growth forecast to 5.8 per cent in the current fiscal on account of lower agricultural output and slower industrial recovery due to the poor progress of monsoon.

Tackle climate change now: Scientists

As leaders of the world's 13 major countries prepare to meet at the G8+5 summit in Italy this week, 24 leading scientists from these

countries have appealed to them to take immediate action to combat climate change.

"We come together to call on our government leaders to recognise both the unacceptable risks that climate change creates for our societies, and the unprecedented opportunities a clean energy, low-carbon transition creates for our economies," the scientists said in a joint appeal.

The appeal appeared as an advertisement in the International Herald Tribune newspaper Tuesday. The scientists asked the leaders of the industrialised eight and developing five countries to take five specific steps at their summit this week:

* Recognise that present global warming of 0.8 degree Celsius above pre-industrial levels is already having a significant impact, and that warming exceeding 2 degrees Celsius predicted for later this century would create great risks and have irreversible consequences.

* Commit to peak global greenhouse gas emissions by no later than 2020 and reduce these by at least 50 percent relative to 1990 levels by 2050.

* For developed countries, commit to emissions reductions of at least 80 percent relative to 1990 by 2050 with appropriate intermediate targets set in time for Copenhagen (the next climate summit scheduled this December).

* For developing countries, commit by Copenhagen summit to significant gains in energy efficiency, reductions in carbon intensity, and cuts in non-carbon dioxide greenhouse gas emissions over the next two decades; this should be designed to support sustainable development and to lead to substantial reduction from business-as-usual emissions.

* Recognise that the impacts of existing changes in climate are primarily due to past emissions by developed nations, and that unless the burden of poverty in developing nations is alleviated by significant financial support for mitigation, adaptation, and the reduction of deforestation, that ability of developing countries to pursue sustainable development is likely to diminish, to the economic and environmental detriment of all.

The scientists who signed the appeal included: Kamal Bawa of the University of Massachusetts in the US; Kirit and Jyoti Parikh of the Indira Gandhi Institute for Development Research in Mumbai; Martin Parry of the Imperial College in London and a former lead author of the Intergovernmental Panel on Climate Change; Robert Costanza of the University of Vermont (US); Hironori Hamanaka of Keio University (Japan); John Houghton of the British Meteorological Office; Gordon McBean of the Royal Society of Canada; Anthony J. McMichael of the Australian National University; Stefan Rahmstorf of the Potsdam Institute for Climate Impact Research (Germany); and Henning Rodhe of the Royal Swedish Academy of Sciences
.

They said: "The world is looking to the MEF leaders to act on this challenge and to seize this immense opportunity. The time for bold leadership is now."




Globalist Perspective > Global Diplomacy
Time to Reset U.S.-India Relations
 

By W. Pal Sidhu | Monday, July 20, 2009
 

With U.S. Secretary of State Hillary Clinton concluding her visit to India today, the EastWest Institute's W. Pal Sidhu examines creative ways in which the two countries can build on the successful civilian nuclear deal. Security and counter-terrorism continue to be important, he argues, but Afghanistan's development may prove to be a key issue as well.


illary Clinton's first visit to India as U.S. Secretary of State, within the first six months of the Obama Administration, is significant for several reasons.

First, it is the clearest indication that the new U.S. administration is committed to building and expanding on the relationship established by the previous administrations, especially that of George W. Bush.

The visit by National Security Adviser General Jim Jones in late June was another indication of the growing strategic ties between the world's oldest and largest democracies.

Second, given Clinton's own political gravitas in the United States — especially her historic presidential run and her reputation as an avid supporter and friend of India — this messenger is more important than the message she will bring.

Even her itinerary, which deliberately (if somewhat inconveniently and artificially) leaves out Pakistan, is perhaps reflective of the efforts being made to "de-hyphenate" the India-Pakistan relationship and focus on India alone. Clearly, this administration is determined to "reset" U.S.-India relations at a higher plane.

The significance of the Clinton visit notwithstanding, she is not the first senior member of the Obama Administration to visit India. In fact, she is also not the second. Leon Panetta made history of sorts when he became the first CIA chief to visit India in his first outing in March. This visit was clearly prompted by the terrorist events in Mumbai last November and the realization in Washington that the atrocities that were committed in India could be exported to the United States.

The visit led to an unprecedented level of intelligence cooperation. Similarly, the visit by National Security Adviser General Jim Jones in late June and his discussions on Iran, energy and defense ties was another indication of the growing strategic ties between the world's oldest and largest democracies.

The Clinton visit will undoubtedly continue this promising trend in Indo-U.S. ties, which is being built on the initiatives taken during the eight previous years of the Bush Administration. Indeed, the crowning glory of the bilateral strategic partnership was the controversial India-U.S. civilian nuclear cooperation agreement — which succeeded despite the fact that it nearly brought down the previous government in New Delhi and remains unpopular in many corners of Washington, D.C.

The Clinton visit will undoubtedly continue the promising trend in Indo-U.S. ties, which is being built on the initiatives taken during the eight previous years of the Bush Administration.

Unlike the Bush Administration, which was ideologically driven and dominated by neo-conservatives, the Obama Administration will not rebuild fences where they already exist. But it will probably give them a fresh coat of paint.

Even before the Clinton visit, it was apparent that the new pragmatism in Washington will not "reset" the Indo-U.S. relations to a pre-Bush era.

For instance, Phil Gordon of the Brookings Institution and a nominee for a senior State Department position notes: "In an ideal world, rejection of the nuclear deal would preserve the sanctity of the nuclear non-proliferation regime… In the world we live in, however, it would do little to prevent non-proliferation and significantly harm India, the United States and their ability to do good things together."

Similarly, Richard Holbrooke, the special envoy for South Asia, has at the insistence of New Delhi dropped the Kashmir issue from his portfolio. Although this might be to the detriment of India in the long run, he is now solely focused on Afghanistan and Pakistan.

This pragmatism notwithstanding, there is a need to reset some aspects of the Indo-U.S. relationship so that the world's two biggest democracies can do good things together. First, the relationship should go beyond just the nuclear agreement — otherwise there is a real concern that it may become uni-dimensional.

This could be done by looking for greater cooperation on new security issues such as cyber-security (given the vulnerability of the Indian software industry to cyber attacks), climate change (akin to the green partnership being considered between China and the United States) and maritime security (especially protecting the trade routes against piracy).

On cyber-security, India and the United States could work closely with each other, and perhaps Russia and China as well. The nations need to develop at least some basic norms and a common lexicon to ensure the presence of clear red lines — so as to avoid an inadvertent lapse into cyber-warfare.

The Obama Administration will not rebuild fences where they already exist. But it will probably give them a fresh coat of paint.

Similarly, climate change has the potential to become a divisive issue if not addressed cooperatively. This is certainly the Chinese perspective, which has led them to work with the United States on building a "green partnership."

In addition, although India and the United States have had some maritime cooperation (evident in the joint tsunami rescue operations), there is potential for greater cooperation — especially in anti-piracy operations.

Finally, perhaps for the first time, Washington and New Delhi share the same deep anxiety about counter-terrorism, Pakistan and Afghanistan. They should explore the possibility of positive engagement in these spheres of mutual concern.

In the counter-terrorism sphere, India and the United States should build on the cooperation between the Indian intelligence agencies and the CIA. After all, this led to the first-ever public admission by Pakistan of the role of their nationals in one of the most dramatic incidents on Indian soil. In a similar vein, India should also seek greater coordination and cooperation of its role in Afghanistan in the context of U.S.-led operations.

This does not necessarily mean military cooperation (although it might be in India's interest to work closely with the United States and NATO-led International Security Assistance Force), but it could mean integrating New Delhi's impressive Afghanistan assistance program with that of other key countries operating in Afghanistan.

The Indian model of development assistance in Afghanistan has been widely praised and should be promoted as new initiatives are launched in Afghanistan.

The Clinton visit provides a promising opportunity to widen and deepen the strategic Indo-U.S. relations. However, unless the new Congress-led government in New Delhi is more pragmatic and imaginative, it could be that Indo-U.S. relations will wear the same old coat of paint.

http://www.theglobalist.com/storyid.aspx?StoryId=7885

A revival of the nuclear issue?

Hillary Clinton's visit to India is an opportunity to clarify the US' position on India's nuclear programme

Arundhati Ghose


US secretary of state Hillary Clinton is in town today, with the stated purpose of consolidating and pushing further the new directions in Indo-US strategic and economic relations, created over the last half-decade. On her agenda, she has indicated priority to both global and bilateral relations. At the global level are climate change and non-proliferation, and there are several issues at the bilateral level, including the "operationalization" of the iconic Indo-US civilian nuclear agreement. India, too, is bound to have its own agenda. In an otherwise fairly upbeat scenario, a small and abstruse element in bilateral nuclear relations has thrust itself to the forefront.
Photo: Haraz N Ghanbari / AP
Photo: Haraz N Ghanbari / AP
The normally sober Hindu reported that at the recently concluded Group of Eight, or G-8, summit in Italy, the G-8 countries had "blocked 'full' nuclear trade with India" and had imposed a "ban on ENR (enrichment and reprocessing) sales" to India. The relevant part of this G-8 declaration reads: "While noting that the NSG (Nuclear Suppliers Group) has not yet reached consensus on this issue, we agree that the NSG discussions have yielded useful and constructive proposals contained in the NSG's clean text developed at the November 20, 2008 consultative group meeting. Pending completion of work in the NSG, we agree to implement the text on a national basis in the next year." The "clean text" referred to is not a public document, and it is somewhat confusing that TheHindu relied on a comment by an unnamed diplomat from a G-8 country that non-membership of NPT (nuclear non-proliferation treaty) was an agreed criterion for restrictions on ENR transfers should have led to such a conclusion. Nonetheless, the issue has raised concerns both in the public mind and in Parliament. It is clear, though, that G-8 does not refer to India or NPT, nor does it refer to a ban on exports to India.
The civilian nuclear deal was meant to remove the nuclear thorn in the side of Indo-US relations
There is, however, agreement in NSG that the transfers of technology and material related to ENR by those who possess them should be restricted—it is clear from the beginning of the paragraph that the context in which the increased restrictions are being considered is the so-called nuclear "renaissance". What is not agreed is to whom these should not be exported. It has been agreed that a criteria-based approach should be used to identify those who are to be denied these technologies and materials, but there is no agreement on what those criteria should be. Certainly, the inclusion of countries which are not members of NPT—a so-called "objective" criterion—is on the table, proposed by the US, but so are other criteria, such as countries that do not already possess such technologies, countries in volatile areas, countries that have not signed an additional protocol with the International Atomic Energy Agency (IAEA), countries that are not of good standing (a "subjective" criterion) and so on. There is no agreement to date in NSG, which works by consensus.
For the sake of clarification for the general reader, ENR technologies could enable countries to produce nuclear weapons, through uranium enriched beyond 95% and plutonium reprocessed from spent fuel from nuclear power reactors. India already has both technologies, though access to global technologies may help in upgrading facilities—should that be required in the future.
On 4 September, while NSG was debating the issue of restricting transfers of ENR technologies and materials, NSG agreed to "exceptionalize" India and waived the guidelines that had restricted global civilian nuclear cooperation with India. India, in return, had made certain non-proliferation commitments—such as continuing the moratorium on testing and support for the objectives of non-proliferation. The question that has been raised is whether the G-8 exhortation— which in itself is non-specific and certainly not aimed at India— would lead to a formulation in NSG which, in effect, would open up the waiver of September 2008.
The Prime Minister has clarified that France, a member of G-8, has assured him of "full" civilian nuclear cooperation; the finance minister has relied on the acceptance by IAEA and NSG of India's "exceptionalization". Is it likely that those countries which have individually and formally informed IAEA of the change in their laws following the NSG waiver of September last would change their laws again—against India? Perhaps. But would the criterion of non-NPT membership contribute to the goal of non-proliferation at a time of nuclear renaissance? There are only four countries that are not members of NPT—Israel, India, Pakistan and North Korea. And all are known to be nuclear-armed; therefore, all possess ENR technology. The only purpose to include such a criterion would be to try and pressure these countries to join NPT.
Those who are today wary of the non-proliferation policies of the new Obama administration may be justified if the linkage to NPT is the case. The Indo-US nuclear agreement was meant to remove the nuclear thorn in the side of Indo-US relations. Even if this issue is not on the agenda of secretary of state Clinton, the opportunity should not be missed to clarify issues rather than permit a potential irritant to fester.
Arundhati Ghose is former ambassador to the UN Conference on Disarmament. Comments are welcome at theirview@livemint.com
http://www.livemint.com/2009/07/19211810/A-revival-of-the-nuclear-issue.html?h=B

Bed here, bite there

New Delhi, July 19: Below the radar of policy wonks scanning the horizon for even a minute shift in Indo-US ties, a "strategic relationship" has changed without much fanfare.

Hillary Clinton is staying in the capital at Taj Palace Hotel, not at ITC Maurya that had hosted her husband Bill Clinton and daughter Chelsea during the charm-charged visit in 2000 when the then US First Lady could not accompany her family.

For some years, the Maurya had been a favourite of the Americans: it also hosted Bill Clinton's successor George W. Bush in 2006 and Hillary's one-time predecessor in the state department, Colin Powell.

This time, the pendulum has swung towards the Taj. The hotels are situated adjacent to each other in the diplomatic enclave in central Delhi — so location could not have been much of a deciding factor.

The card rate — the actual tariff could be lower — for the most expensive suite at the Maurya is Rs 2,90,000 a night, while the Taj's top slot goes for Rs 1 lakh, according to their official websites. American-baiters may not miss the opportunity to draw attention to the recession and cite the change of hotels as an instance of the superpower's newfound austerity.

Officials from both hotels declined comment. But a source pointed out that Hillary had started out in Mumbai by staying at the Taj to express solidarity with the victims of the 26/11 terror strikes and she may have wanted to stay on the same course in Delhi, too.

Hillary enjoys a good rapport with Ratan Tata, whose Indian Hotels runs the Taj group of hotels. The two had interacted closely when Hillary was New York Senator and Tata headed the Indo-US CEO Forum. The head of the Tata corporate office in the US, David Good, has also had a long association with the American foreign service.

But all's not lost for the Maurya. Hillary today turned up at the Bukhara, a restaurant at the Maurya, for dinner and sat at the same table (No. 64) made famous by her husband.

Bukhara was so taken in by the charm of the then most powerful man in the world that its menu has a Presidential Platter named in Bill Clinton's honour and a Chelsea Platter.

Hillary did not let Bill down tonight, opting for the Presidential Platter: dal Bukhara, paneer tikka, murgh malai kebab, sikandari rann, seekh kebab and mixed raita. For dessert, she chose kulfi and ras malai.

Asked whether a platter would be named after Hillary, too, a hotel employee refused to comment. But he added: "It's a pity she isn't staying here. But the table is always ready for her."

One occupant at the Maurya may have stoked Hillary's interest. Foreign minister S.M. Krishna, whose official bungalow has been allocated but is not yet ready, has been mostly staying at an apartment in the Maurya complex. Hillary is scheduled to meet Krishna tomorrow.

http://www.telegraphindia.com/1090720/jsp/frontpage/story_11258718.jsp

Lawyers perplexed at Kasab's dramatic confession

Mumbai (PTI) The dramatic confession of the lone surviving gunman Abdul Kasab admitting his crime in the Mumbai terror attacks triggered a collective gasp in the court room and left lawyers perplexed raising questions whether it was voluntary or a ploy.

Ujwal Nikam, the Special Public Prosecutor in the high-voltage case, admitted he was "surprised" at the "unexpected" confession for the first time in the court hailing it as as a big victory for the prosecution.

He said Kasab(21) may have realised that the "cat is out of the bag" after 134 witnesses gave evidence against him since the trial began in April.

But another criminal lawyer Satish Manishinde counselled caution saying it should be known whether the "belated" confession was voluntary and whether he was coerced or got any instructions even though there was "clinching evidence to his involvement.

The action of the Pakistani national pleading guilty on the 65th day of his trial in the high security Arthur road prison left those in the special court shocked.

And Judge M.L. Tahiliyani, who was apparently taken aback, called lawyers from both sides to figure out the significance of Kasab's statement.

"We are surprised that Kasab has abruptly taken this stand (of confessing to involvement in 26/11 attacks)," Nikam said.

"Everybody in the court was shocked the moment he said he accepts his crime. It was unexpected," he said, adding," We are minutely assessing what he admitted in court," he said.

Harish Salve, a senior Supreme Court lawyer, said it is not clear if Kasab confessed voluntarily.

"I hope it is not a ploy and he doesn't come the day after and give it another twist,"he said.


Policemen claim Kasab's confession reveals 'Pak's role'

Mumbai (PTI) Policemen, who were in the team that arrested Ajmal Kasab, the lone surviving gunman in the Mumbai attack, on Monday said his confession to the crime was a "smart act" after being cornered and exposed Pakistan's hand.

N R Mali, Senior Inspector D B Marg police station (who was also instrumental in arresting Kasab) said, "Kasab should have confessed long back..Now after two months into the trial he realised that everything is going against him and that he is in trouble..so he smartly confessed..."

"Kasab's confession has revealed Pakistan before the whole world..," said Sanjay Govilkar, Assistant police inspector D B Marg police station who was injured while arresting Kasab at Girgaum Chowpatty said.

Govilkar said, "The moment we arrested Kasab, he acted as if he was unconscious and when he was admitted to the hospital he started speaking...this clearly shows the training he has undergone as to how to trick police officials. I am hoping that Kasab is hanged to death thus briging justice to Tukaram Ombale who fell victim to Kasab's bullets and other victims."

Govilkar, who was injured near his wais when one of Kasab's bullets scraped through him, added, "I managed to escape death by a whisker..if that bullet had pierced through me then after Ombale it would have been my turn."



Kasab's confession proves need for GUJCOC, MCOCA-like laws: BJP

New Delhi (PTI) Claiming that the confession of key accused Ajmal Kasab in Mumbai attack trial was a "success" for MCOCA which was invoked against him, the BJP on Monday said it should convince UPA government to give its consent to a similar anti-terror bill passed by Gujarat.

"Kasab's confession is a step forward. MCOCA was imposed on him due to the deficiency of earlier laws.... This is the success of MCOCA," Deputy Leader of Opposition in the Lok Sabha Sushma Swaraj said.

Pitching for passing of anti-terror bills patterned on Maharashtra Control of Organised Crime Act (MCOCA) and the scrapped POTA passed by BJP-led state governments, Swaraj said the UPA government should now give its assent to them.

GUJCOC, the anti-terror bill passed by the Narendra Modi Government in Gujarat which makes confession made before a police officer admissible in a court of law, has been rejected twice by the Centre despite being passed by the state government.

Mr. Modi has pledged to pass GUJCOC again and send it to the Centre for its assent.

Anti-terror bills formulated on the lines of GUJCOC by other BJP governments have also failed to get the Centre's nod.


MS, Clinton tie-up offers free GHG on-line tool for cities

Washington (PTI) As US Secretary of State Hillary Clinton tries to rope in India in combating climate change, Microsoft has teamed up with her husband's NGO to create a free on-line tool for global cities, including Delhi and Mumbai, to monitor their greenhouse gases (GHG) emissions.

Microsoft, the global software firm, has created the online carbon accounting tool called 'Project 2 Degrees' for cities across the world to monitor their GHG emissions and open up an area for enterprise software companies to provide the best tools for the job.

Cities account for only two per cent of the world's land mass but produce up to 75 per cent of worldwide greenhouse gas emissions, so they became the focus for 'Project 2 Degrees' that is a collaboration with software designers Autodesk and the Clinton Climate Initiative (CCI), a programme launched by former US President Bill Clinton.

"This is a long journey for our governments, be they local or national, but we could have the biggest impact by working with local governments as they have the ability to measure what's happening locally in terms of greenhouse gas emissions and to have an effect on the local economy and the local environment first," Matt Miszewski, Microsoft's general manager for Worldwide E-government, said.


Oil Ministry not to let RIL off hook for MoU with ADAG

New Delhi (PTI) The government has not let Reliance Industries off the hook for signing a private MoU with a firm run by Anil Ambani Group to divide entire gas volumes from KG basin fields, thus holding industrial development to ransom, the Petroleum Ministry said on Monday.

"We for the first time got to know from the Bombay High Court judgment (of last month) that all volumes beyond 28 mmscmd committed to (Anil Ambani's) RNRL and 12 mmscmd to NTPC were divided between RIL and RNRL in 60:40 ratio," Petroleum Secretary R.S. Pandey told reporters here.

Peak gas out from KG-D6 fields may be 100-120 million standard cubic meters per day.

"The MoU also states that they are free to price the volumes beyond those locked in litigations. So practically, RIL may transfer KG-D6 gas for use in its refineries and petrochemical plants at USD 1 per mmBtu," he said.

Other industries will be dependent on the mercy of RIL and RNRL to get the scarce fuel, he said, adding that the government filed a petition in Supreme Court to get the MoU declared null and void to prevent such appropriation of natural resource through private agreements.

"We have so far not taken any action against RIL as it has so far not done anything in contravention to the gas pricing and utilisation policy as derived from Production Sharing Contract," Mr. Pandey said. "I cannot today say that no action will be taken."


Media picks up sensational issues, not real ones: CBI chief

New Delhi (PTI) CBI Director Ashwani Kumar on Monday took a dig at the media saying it was only giving prominence to sensational issues.

Mr. Kumar, some of whose decisions had come under attack, had a word of advice on 'investigative journalism'.

"A serious journalist will try to understand the whole scheme of things and then he will arrive at his opinion based on objective inputs. As it is, it runs counter to investigative journalism...(sic) Even national dailies are not free from this malaise."

Mr. Kumar said dependence on advertisements has led to compromising commitment of professional mediapersons.

The media establishments are dependent on advertisements and this tendency, particularly in TV channels, is compromising the commitment of professional mediapersons.

"As professional media managers, you (reporters) can cherish the values of propriety and balanced writing in exposing corruption in India. You should stand resolutely against any blockade in the area of professionalism in media," he said in an interaction with journalists at the CBI headquarters here.


India isn't under obligation to take emission cut target: Govt.

New Delhi (PTI) India is not under any obligation to take any emission reduction target and has asked developed nations to go for deep and ambitious carbon cut for the second commitment period of the Kyoto Protocol commencing 2013, Rajya Sabha was informed on Monday.

"There is no obligation for India under the provisions of the UN Framework Convention on Climate Change(UNFCCC) and its Kyoto Protocol to take any emission reduction target," Environment Minister Jairam Ramesh said in a written reply.

On the other hand, he added, "India has urged developed nations to take deep and ambitious emission reduction targets for the second commitment period of the Kyoto Protocol starting from 2013."

The Minister said the government was committed to implementing the National Action Plan on Climate Change (NAPCC) envisaging eight national missions in specific areas and several other initiatives that will have co-benefits in terms of global warming.

"The documents in respect of the national missions are at various stages of finalisation and will be implemented after approval of the Prime Minister's Council on Climate Change," he further added.


'Annual mean temperature for country has risen by .52 degrees'

New Delhi (PTI) Annual mean temperature for the country as a whole has risen by .52 degree celsius in the past 107 years since 1901, according to a data analysis by the Met department, the government informed the Rajya Sabha on Monday.

In his reply to a written question in the Upper House, Environment Minister Jairam Ramesh said, "the analysis of data for the period 1901-2008 by Meteorological Department suggests that annual mean temperature for the country as a whole has risen by .52 degree celsius over the period."

Mr. Ramesh said the concentration of Green House Gas (GHG) in the atmosphere was leading to global warming and that spatial pattern of trends in the mean annual temperature show significant positive (increasing) trend over most parts of the country.

However, in parts of Rajasthan, Gujarat and Bihar significant negative (decreasing) trends were observed, the minister added.

Regarding the melting of glaciers, he said as per Geological Survey of India, the majority of Himalayan glaciers were receding at varying rates during the twentieth century.

However, he added, "Recession of glaciers is a complex phenomenon ... Thus it is not possible to specify the role played by the rise in temperature alone in this shrinkages."

The receding of glaciers may lead to reduction in their ice reserves, besides changes in the river hydrology, enhanced silt and debris production, ecological disturbances and rise in sea level, Mr Ramesh said.


Kalam wants India to adopt Bangladesh's Grameen Bank model

Dhaka (IANS): Inspired by Bangladesh's Grameen Bank endeavour, former Indian president A.P.J. Abdul Kalam has mooted a separate Indian law for micro credit in rural areas, a media report here said Monday.

Responding to Dr. Kalam, who is on a three-day visit here, Nobel Laureate Muhammad Yunus Sunday said that Grameen Bank would be delighted to help in any effort to set up micro credit programmes in India and is already involved in such an effort in Kerala.

Yunus presented Dr. Kalam the Hindi translation of his book Banker of the Poorduring his visit to the Grameen Bank, the Daily Star reported.

India's first technocrat president, who held office from 2002 to 2007, also mooted joint research and development, using modern technology, of jute -- the "golden fibre" common to Bangladesh and India. Its production has steadily declined in recent years.

On Sunday, Prime Minister Sheikh Hasina on Sunday hosted a dinner in Kalam's honour.

Dr. Kalam's itinerary here includes visiting Dhaka University and the historic Viqarunnisa Noon School and College.

Dr. Kalam, along with President Zillur Rahman, will Monday attend the first convocation of the University of Information Technology and Sciences (UITS).

Krishna to attend ARF meet in Thailand tomorrow

New Delhi (PTI) With terrorist threats spanning across the globe, the ASEAN Regional Forum, to be attended by External Affairs Minister S.M. Krishna in Thailand, will come out with a work plan to tackle the threat.

The two-day meeting in Phuket is also expected to discuss global economic crisis and food and energy security.

Progress on the negotiations for Free Trade Agreement between India and ASEAN is also expected to be reviewed during the three-day visit of Krishna beginning Monday.

The Work Plan is aimed at committing the 26 member countries to make efforts towards concrete, capacity-building efforts, technical support and information exchange.

The meeting will also discuss other global and regional challenges like food and energy security, climate change, regional security, nuclear non-proliferation, disaster management and prevention and control of pandemic diseases.

The ARF meet will issue a Vision Statement, outlining the roadmap to give a fillip to cooperation among the member countries.

The ministerial meeting of the ASEAN and ARF will set the agenda for the Summit to be held in Thailand in October.


Congress refuses to comment on India, Pak's joint statement

New Delhi (PTI) The Congress on Monday refused to comment on the joint statement of India and Pakistan in Egypt, saying the party had nothing to add to the two statements of Prime Minister Manmohan Singh, including one on the floor of the House.

Replying to a volley of questions on whether the joint statement negated what India had been standing for and whether the party endorsed it, party spokesman Abhishek Singhvi said, "if you need any further clarification, go to Government of India".

He said the PM's statement leaves no scope for any doubt.

Mr. Singhvi also parried questions on Leader of Opposition L K Advani's criticism of the joint statement saying such statements came even during the Indo-US nuclear deal.

"There are objectives he has been using...They don't deserve to be answered," he added.

To a query about the proposed rath yatra of Mr. Advani, Mr. Singhvi said he wished him "happy journey" but added that the country was in turmoil when similar yatra was undertaken earlier.



Tapioca kept for sale in a street in Kochi. It is as a nutritious food substitute, and in animal feed formulation, production of starch, sago and commodity chemicals like citric acid and high fructose syrup. Photo: K.K. Mustafah.
Photo Gallery

Cane output may fall 17 million tonnes below demand by 2012
New Delhi (PTI): India's sugarcane production is projected to fall short of the demand by 17 million tonnes at the end of this Plan period (2007-2012) from a surplus supply of 14 million tonnes now, as per the Planning Commission.The country is ... More

Chilli, turmeric rises on tight supply
New Delhi (PTI): Red chilli and turmeric prices rose up to Rs 200 per quintal in the national capital on Monday on fall in supplies from producing belts amid fresh buying support from local parties and stockists.Red chilli prices were up by Rs ... More

Copra, dry dates up on fresh buying
New Delhi (PTI): Copra and dry dates price rose by Rs 100 per quintal in the national capital on Monday on the back of buying by retailers and stockists due to festive demand.Fall in supplies from producing Southern region also supported the rise ... More

Agriculture Ministry advising farmers on sowing Pepper futures price improve on fresh buying Cardamom strengthens on pick up in spot demand Jeera future prices up on short-covering Almond extends gains as demand rises PEC invites bids for import of pulses `Cultivate different crops without fertilisers'

From
July 16, 2009

Indian food and power shortages loom as monsoon arrival is latest in 80 years

Women harvest tea in Assam

India is looking anxiously to the skies as the worst start to the monsoon in 80 years raises fears of food shortages, power cuts and riots.

In Bhopal a young couple and their son were beaten and stabbed to death yesterday, allegedly after a dispute with their neighbours over water in the drought-stricken city.

In the surrounding state of Madhya Pradesh water tankers were under police guard as they visited areas where normal drinking supplies have been exhausted for weeks.

"Street brawls are happening as the water supplies are coming in. It's hot; tempers are short; people are thirsty and frustrated," said Indira Khurana, of WaterAid India.

The monsoon's prolonged tropical downpours, which account for 80 per cent of India's annual rainfall, should have started early last month but have only just begun. The delayed onset of the rainy season has pushed back the planting of staples such as rice and grain after a scorching June, in which temperatures in the northwest hovered 6-7C above historical averages, and led to vegetable crops and paddy nurseries withering in the sun.

While food prices have risen, the stock market in Mumbai has plummeted. Last week it suffered its worst falls since October over fears that a failed monsoon could ruin the livelihood of millions of poor consumers.

Economists now fear that the vagaries of the weather could wreck a national economy that has weathered the financial storms of the global credit crisis relatively unscathed.

State governments in the central region of Jharkhand and the north eastern region of Manipur have already declared droughts — a highly unusual step so early in the growing season. Assam, also in the northeast, which produces tea and rice, said 14 of its 28 districts are suffering drought.

In Punjab, the northern region known as the bread basket of India, rainfall has been less than half the historical average. Across the country as a whole it is about 30 per cent below normal. The Government banned wheat exports from the country this week, over concerns that a poor harvest will lead to shortages and price increases.

The looming crisis has emphasised just how dependent India remains on the monsoon — even to keep the lights on. The country relies on hydroelectric generation for about a quarter of its power output. With electricity being diverted to irrigate crops, vast areas face blackouts.

Meanwhile, most of the 800 million Indians who rely on agriculture for their living are hanging on the weather man's every word. Here, at least, the latest news is comforting, with the heavy rains that have descended on much of the country in the past few days forecast to continue.

Indians pray that now the rains have started they will continue.

http://www.timesonline.co.uk/tol/news/world/asia/article6715468.ece

India Inc's rain hopes
NDTV Correspondent
Wednesday, July 15, 2009 (New Delhi)

The monsoon is still to reach the optimum levels in many parts of the country, raising fears of even a drought. But is the situation that bad or is there still some hope left?

A seventy per cent of Indians are farmers, dependent on the monsoon and their livelihood now hangs in balance, thanks to large parts of the country getting poor rainfall. There is already fear in the markets and the government is treading softly, but are the concerns justified?

According to the Metereological department, June saw 55 per cent less than normal rains, but July made up with 95 per cent rainfall in the first week, which means late sowing is possible and reservoirs are filling up.

BP Yadav, director of IMD, said, "There was a 54 per cent deficiency earlier that has come down to 32 per cent, which means an improvement of 20 per cent and it has come mainly from South India and Central India. The rains have been enough in quantity and distribution but northwest areas still remain a concern."
While industries related to agriculture have cause for concern, some players feel they can weather the storm.

Vivek Saraogi, MD of Balrampur Chini Mills, said, "The cane is a crop that does not require rainfall equal to something like paddy. I don't think there is going to be too much of a dip in production.

HM Bangur, MD of Shree Cement, said, " The monsoon is good. It was delayed but we do not think that it is going to effect much."
However, India Inc's confidence may be a little misplaced. Manipur has declared a drought and so have parts of Jharkhand and if the situation does not improve soon, India could be facing a long summer of discontent.

http://profit.ndtv.com/2009/07/14230452/India-Incs-rain-hopes.html


  • Posted: Wed, Jul 15 2009. 10:32 PM IST

Opposition wants Centre to declare drought


The opposition has demanded that the government call a meeting of chief ministers, leaders of all political parties and experts to chalk out strategies to deal with the foodgrain scarcity

Liz Mathew


New delhi: Even as the government maintained that the monsoon is likely to get stronger over the next few weeks, the Opposition on Wednesday demanded the Centre to declare a drought in the country and offer financial assistance to farmers who are dependent on the monsoon.
A senior minister in the United Progressive Alliance (UPA) government admitted that the monsoon situation in the north-west is "worrying" and that the rains in July would not compensate for the shortfall in June in this region. He said the progress of the rains was unlikely to be good in Punjab, Haryana, Rajasthan and eastern Uttar Pradesh as the monsoon rains had started moving south, away from the region.
Dry tension: Farmers ploughing a field in north India. Parts of the country face the threat of a drought after recording weak rains. Ramesh Pathania / Mint
Dry tension: Farmers ploughing a field in north India. Parts of the country face the threat of a drought after recording weak rains. Ramesh Pathania / Mint
"As of 12 July, 25 of 36 meterological subdivisions fall under scanty or deficient monsoon category. But the mitigation strategy has to be worked out at the states," the minister, who did not want to be identified, said.
In the Lok Sabha, urging the government to declare a "drought", the opposition demanded that the government call a meeting of chief ministers, leaders of all political parties and experts to chalk out strategies to deal with the "foodgrain scarcity, power shortage and drinking water scarcity", which, they said, would be the outcome of deficient rains.
The proceedings in the Lower House was adjourned for half-an-hour after the opposition MPs led by Janata Dal (United), or JD(U), leader Sharad Yadav wanted Speaker Meira Kumar to suspend Question Hour and discuss the "drought situation" in the country. Lawmakers cutting across party lines said the government must chalk out a contingency plan to deal with the situation.
Communist Party of India MP Gurudas Dasgupta said rice acerage in the country has dropped by 20% and the area under oilseeds cultivation has fallen 45%. The government, however, did not respond to this.
Parts of India face the threat of a drought after recording weak rains, despite flash floods in Orissa and Mumbai claiming the lives of at least 15 people. In Assam and Manipur, authorities have already declared drought after scanty rainfall. Four districts in Jharkhand were also declared drought-hit.
Although stating that the monsoon will improve in the latter half of July, the government has banned export of wheat. However, minister of state in the Prime Minister's Office Prithviraj Chavan said: "If there is a shortage of foodgrain, we will import. We have plenty of stock for the current year."
http://www.livemint.com/2009/07/15223255/Opposition-wants-Centre-to-dec.html?h=B

Clouds, seas to be targeted by UN climate report

17 Jul 2009, 2026 hrs IST, REUTERS

OSLO: Cloud formation, sea level rises and extreme weather events are among areas set to get more attention in the next UN report on global

warming due in 2014, the head of the Nobel Peace Prize winning panel said on Friday.

Rajendra Pachauri also said the panel did not plan to issue more frequent reports as suggested by some governments, reckoning that several years were needed to come up with robust findings. The last series of reports was in 2007.

"We would certainly have much more greater detail," in the next reports, Pachauri told in a telephone interview from Venice, where leading scientists have been meeting from July 13-17 to work on an outline to be approved later this year.

"In the case of clouds we will certainly provide much greater emphasis in this report -- clouds, aerosols, black carbon. These are issues that we will certainly cover in much greater detail," he said.

The 2007 report pointed to cloud formation as a big uncertainty in climate change. Warmer air can absorb more moisture and so lead to more clouds in some regions -- the white tops can reflect heat back into space and offset any warming.

In an opposite effect, black carbon -- or soot from sources such as factories or forest fires -- can blanket ice and snow with a heat-absorbent dark layer and so accelerate a thaw.

"Sea level rise is another issue that...will get much greater in-depth attention," he said.

Scenarios for sea level rise this century in the 2007 report ranged from 18 to 59 cm (7-24 inches). But it said that 59 cm should not be considered an upper limit because of uncertainties about a possible melt of Greenland and Antarctica.

And the panel, the Intergovernmental Panel on Climate Change (IPCC), is also planning an extra report on extreme events such as droughts, floods, heatwaves or mudslides projected because of global warming.

Pachauri said the next report by the IPCC, which shared the 2007 Nobel Prize with former US Vice President Al Gore, was intended to guide nations after the planned agreement of a new UN climate treaty in Copenhagen in December.

He welcomed an agreement by major economies at a Group of Eight summit in Italy last week to recognise a broad scientific view that world temperature rises should not exceed 2 Celsius (3.6 Fahrenheit) above pre-industrial times.

But he said too little was being done to achieve the limit. "It's a step forwards. I wish they would have made some commitments on what would ensure limiting the temperature increase to 2 degrees," he said.

"In the (2007 report) we said if you want to limit temperatures to that range all we have is up to 2015 as the year when global emissions must peak and they must decline thereafter," he said.

Greenhouse gas emissions, mainly from burning fossil fuels, have risen fast in recent years although recession is now curbing industrial activity in many nations. China has overtaken the United States as top emitter.

Of 177 scientific scenarios in the 2007 report, only 6 looked at tough emissions curbs needed to keep temperature rises below 2 Celsius.

Governments have put more funding into scientific research into higher emissions limits that they judge to be more likely.

"We're certainly going to look at much more stringent mitigation," Pachauri said, when asked if governments were still reluctant to put money into looking at curbs needed to achieve the 2 Celsius limit.

MNCs' buyback rush may open arbitrage gate

18 Jul 2009, 0210 hrs IST, Vijay Gurav, ET Bureau

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MUMBAI: Investors could see some good arbitrage opportunities coming their way, as foreign parents of many multinational companies (MNCs) are

expected to hike their holdings in Indian subsidiaries through open offers, feel investment bankers. Anticipating a further improvement in market conditions, these companies may rush with voluntary or delisting offers before valuations become expensive, investment bankers reckon.

Brokerage house Edelweiss Securities has named 10 MNCs which may come out with open offers. These are Atlas Copco, Alfa Laval, Avaya Global, Gillette India, BASF India, Monsanto India, BOC India, Ingersoll Rand, Blue Dart and Oracle Financial Services. "With stability returning to equity markets, MNCs would like to make the most of the current reasonable valuations for consolidating holdings in their Indian subsidiaries.

Going by the trend observed in the case of recent offers, it appears that the market is ready to make the most of these special situation arbitrage opportunities," said Edelweiss Securities in its report 'Master Moves'.
The past trend showed that as soon as a company announces an open offer — which is generally at a premium to the prevailing market price — investors flock to the counter to buy shares in anticipation of a further rise in the price.

Pricing of open offers has been a major issue among investors, particularly those holding shares for a long time, because of which not many offers could be completed successfully. Some MNCs had to make quite a few attempts to increase their stake in local arms over a period of few years, while others had to increase their offer price to attract shareholders. Novartis and Pfizer are the two latest examples where the acquirers had to hike the respective offer prices. The foreign parents could hike their stake in Novartis from 50.9% to 76.4% (against the proposed 89.9%) after raising the offer price from 351 to Rs 450 per share.

Despite a smart recovery in the market, many MNCs are currently quoting at a substantial discount to their peak values and so could see their parents rushing with offers, feel bankers. "Hopes of further improvement in valuations could prompt foreign parents of MNCs to acquire shares through open offer. Being cash-rich, most of them need not raise funds to run their operations and would like to eventually delist shares," said Almondz Global Securities investment banking head Sharad Rathi.

All the MNCs mentioned above are currently quoting between 14-36% lower than their 52-week highs. For instance, Atlas Copco closed at Rs 616 on Friday, which is 36% lower than the 52-week high price of Rs 960 scaled on September 8, 2008. Swedish parent Atlas Copco Group had made an open offer in 2002, which increased its holding from 51% to nearly 84% in the company. In another notable example, Alfa Laval, where the foreign parent holds as high as 89% stake, is currently quoting at Rs 885, 14% lower than its peak value.
http://economictimes.indiatimes.com/Market-Analysis/MNCs-buyback-rush-may-open-arbitrage-gate/articleshow/4791269.cms


India wilts as monsoon fears grow
By Santwana Bhattacharya

NEW DELHI - India could be staring at an imminent drought. It's not the delayed national budget, but the specter of a delayed - or, in large measure, denied - monsoon that's giving everyone sleepless nights. The Indian Meteorological Department has stopped short of baneful predictions in an economically stressful year - mindful of the political implications - but the signs are dire.

It has been a heart-breaking June, with the fabled wet wind from the southwest absent in most regions normally on its itinerary. The northern plains are bone dry, with temperatures regularly touching the mid-40s in centigrade. They are the last port of call

 
for the complex, mobile weather system which usually arrives there in July after drenching the vast swathes of peninsular India in June. But the monsoon has not even kept this date, for a number of reasons.

The monsoon season had an ominous start. In May, a spoiler developed in the Bay of Bengal in the shape of Cyclone Aila. Its low pressure core sucked off huge volumes of moisture from the incipient monsoon system building up off the Arabian Sea coast in the southwest, pouring it down in torrential buckets over the eastern seaboard states of Orissa and West Bengal. The residual moisture was funneled up into India's northeast, which saw rains a week or so ahead of schedule.

In the southwest and over the peninsula, the delicate monsoon never really recovered. It mostly hovered around the windward areas of the Western Ghats, the Malabar and Konkan coasts proper, as if hesitating to make an ingress into the mainland because it didn't have enough wind in its sails.

By the end of June, the rains were estimated at 54% below normal levels in these parts, with the deficit reaching 75% in central India. Desperation has began to show, with the state of Andhra Pradesh readying for cloud-seeding and some analysts gloomily offering el-Nino as a possible cause. Those capable of seeing patterns beyond the rational, of course, sought refuge in prayers and rituals, the most exotic instance being the marriage of two frogs organized in Nagpur to propitiate the gods.

At this point, the government finally thought it fit to say something. In a sort pre-emptive measure, it officially downgraded the 2009 monsoon to 93% of normal. This is a "below normal" figure - a cautious trimming of the "near normal" 96% forecast in April.

According to data collected since the 1940s, "normal" is 890 millimeters for the whole season. This naturally varies in different parts of India - which allows for the co-occurrence of bounty and scarcity.

The current reading is that, since June accounts for less than one-fifth of this total, central India may recover in the latter part of the season. What is really worrisome is that India's northwestern foodgrain belt, falling in the states of Haryana and Punjab, is likely to be worst hit. The prediction is that it will get only 81% of the long-term average for the region. That is not counting the 5% to 8% error level which could bring the rainfall level down to 73% of the normal.

The fear of drought - it would be the first in seven years - looms large. With power and water scarcity setting in, tempers in the cities are soaring almost in tandem with the heat.

After the predictions were made public, the first knee-jerk reaction came from Punjab. The state banned the use of air-conditioners in government offices, boards and corporations - despite the sweltering heat - so eight hours of uninterrupted power could be supplied to the farm sector. Some states have begun advertising to persuade farmers to switch crops and are even inviting tenders for cloud-seeding. The government is trying to keep things calm. Agriculture Secretary T Nanda Kumar has acknowledged the concerns but has insisted there is no reason to panic yet. A delayed monsoon could still make up for the loss.

The monsoon, which runs from June through September, is such a big thing in India that a bad year has the potential to topple governments. Even now, 60% of Indian farmland is dependent on rains, not irrigation. It goes beyond the economic, the imprint goes into the very socio-cultural make-up of a nation. From classical culture to kitsch Bollywood romance, nothing is untouched by the the unfailingly iconic moment of the arrival of the rains.

Its failure to arrive, then, is a soul-killer. The image of the ubiquitous poor farmer scanning the skies for a sign of the first dark cloud, framed against a parched piece of land with as many cracks as there are on his face, is both a subject of cliche and a matter of all-too-mundane reality. Governments of India dread nothing more than a bad monsoon. On the scale of enormity, it is no less huge than terrorist attacks or internal turmoil. For economists, who ply a predictive trade as risk-prone as that of weathermen, it's a built-in uncertainty in their forecasts. Their permitted margin of error.

Scientific monsoon prediction in India is an old game. The Met Department was the first national weather service in the world to start operational monsoon prediction work in 1886. This was when a British officer-cum-researcher used the relationship between winter Himalayan snow cover and the monsoon to make predictions. Forecasting the quantum of rainfall for the whole season was found useful for planning purposes. For farmers now, official word on intra-seasonal phenomena such as onset and withdrawal of the monsoon cycle is crucial for planning.

In a nutshell, a truant monsoon plays havoc with the kharif (rain-dependent, summer) crops. The implications can be better understood when seen against what are otherwise mundane statistics - 60% of India's 1.1 billion population survives on agriculture. That they account for only a fifth of India's national income only underlines the peril-ridden nature of their economics.

A dry June means kharif sowing is badly affected as it needs good rains for at least 15 days of June spilling over to July. Kharif crops like paddy, sugarcane, groundnuts, maize and pulses have a significant bearing on the country's food security, while others like cotton shape rural incomes. The spate of suicides by debt-ridden farmers in the past few years was highest in peninsular India's cotton areas.

This is, still, part of the problem. As poor rains lower agricultural output, in a chain effect they will also raise food prices and dent rural demand. Not to speak of the impact it would have on corporate profitability and market sentiment. The corporate sector wants the government to take corrective measures, if there's a problem at hand, so that food prices can be kept in check. Even the prime minister's office is monitoring the reluctant march of the monsoon. The state governments have been called for a meeting on Thursday to thrash out a contingency plan. There's obviously no time to lose.

A drought would affect the central government's finances on both the revenue and expenditure sides. Reduced rural demand in turn impacts industrial demand and consequently growth. Lower collections of all major taxes ranging from personal income to corporate, excise and even customs is a natural corollary. India's relative immunity to the global meltdown was attributed to its large domestic economy - in particular its hitherto under-appreciated rural component, whose robustness, being more insulated from world trends, came to the rescue of the more glamorous cities. It is this sector that gets directly hit by a bad monsoon.

On the other side, there would also be more pressure on the government's social welfare schemes. Drought would most certainly increase demand for the rural employment guarantee scheme and other sops may also be necessary. Besides, the government has promised a National Food Security Bill that would statutorily require the supply of 25 kilograms of rice or wheat at 3 rupees (US$0.06) per kilogram to poor families - a measure that could push up the subsidy bill by millions of rupees. And all this is happening in a year when the government has little maneuverability to spend its way through the crisis.

Little wonder that Minister for Science and Technology Prithviraj Chavan has cautiously admitted, "The southwest monsoon from June to September is likely to be below normal. But we've July and August to make up for the deficit." In concrete terms, bad rains signifies trouble in states like Uttar Pradesh, Jharkhand, Maharashtra and Orissa, where farmers could face crop loss; in Kerala, Uttarakhand and Punjab it could result in shrinking of reservoirs that would affect power generation and release of water to irrigated tracts.

For instance, the Tehri hydroelectric power station in Uttarakhand supplies power to New Delhi and its hinterland. The water level in its reservoirs has shrunk to dangerously low levels - 741 meters against a normal level of 830 meters during monsoons. The Bhakra dam, the biggest hydroelectric project in northern India, has water flowing in from the mountains. Its reservoir levels remain lower than they were last season.

Elsewhere in the country, the situation is no better. The Central Water Commission has made it known that in 80% of the reservoirs, the water level is below the 10-year average for the season. What has compounded the problem is that there was no snow in the higher ranges and no rain in the lower Himalayan mountains. In other words, with snow-fed rivers too under stress, a grim rain scenario would only complicate matters.

Finance Minister Pranab Mukherjee has the toughest job ahead. Scheduled to place a budget before parliament on July 6, he's faced with the task of producing a document that can revive an economy hemmed in by a high budget deficit and a looming food crisis. Actual gross tax revenue already fell by 3% in 2008-09, adding to Mukherjee's troubles.

All in all, it's the kind of crisis management that could require the Manmohan Singh government - voted back to power partly because of the premier's much-touted economic skills and partly because of its welfarism - to empty its coffers and stretch its talent pool.

Santwana Bhattacharya is a New Delhi-based journalist who writes on politics, parliament and elections. She is currently working on a book on electoral reforms and the emergence of regional parties in India.

(Copyright 2009 Asia Times Online (Holdings) Ltd. All rights reserved. Please contact us about sales, syndication and republishing.)

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Premier in drought areas visit as a little rain falls

Source: Xinhua  |   2009-2-9  |     NEWSPAPER EDITION



Premier Wen Jiabao inspects the growth of wheat in Yangbei Village, Yuzhou City of central China's Henan Province. Wen visited the drought-hit Henan over the weekend and urged all relevant departments to place drought-relief work as their top priority. Parts of China's parched north got light rain over the weekend after authorities fired shells loaded with cloud-seeding chemicals to the sky, but there still seemed to be no end in sight for China's worst drought in 50 years.

Photograph byXinhua

More in photo gallery


PARTS of China's parched north got light rain after authorities fired shells loaded with cloud-seeding chemicals into the sky, but there was no end in sight for its worst drought in five decades, the government said yesterday.

China has declared an emergency across the country's north, where 4.4 million people lack adequate drinking water and winter wheat crops are withering.

"The drought situation will not be eased in the near future," the China Meteorological Administration said.

Some areas got a sprinkling of rain and sleet at the weekend after clouds were hit with 2,392 rockets and 409 cannon shells loaded with chemicals, the administration said. It said clouds were thin and moving out of the region, making conditions poor for more rain making.

Rainfall in northern and central China is 50 percent to 80 percent below normal, according to the Flood Control and Drought Relief Office.

Artificial means were employed to create rains in at least seven provinces on Saturday to alleviate the drought, the meteorological administration said.

Rain-enhancing practices were adopted in Henan, Gansu, Ningxia, Shaanxi, Shanxi, Hubei and Anhui.

In central China's Henan Province, artificial precipitation brought on average 0.5 millimeters of rain to 17 counties and cities. The province is one of the major wheat-producing areas.

Parts of the artificially moistened provinces and north China's Hebei Province saw 1 to 5 millimeters of rain from Saturday to yesterday morning.

Irrigation had covered 52.7 percent of the wheat farmland in the drought-hit provinces by Saturday, the Ministry of Agriculture said yesterday.

A total of about 5.67 million hectares of wheat land had been irrigated in eight drought-stricken provincial regions, the ministry said.

Agriculture Minister Sun Zhengcai said it was important to fully use machinery in the fight against drought. He asked local governments to increase subsidies for farmers to buy more irrigation-related and water-saving equipment, and make every effort to expand irrigation coverage and save water.

By Saturday, 10.1 million hectares of wheat farmland, which accounted for 95 percent of the drought-stricken crops in China, was affected in eight provincial areas of Hebei, Shanxi, Anhui, Jiangsu, Henan, Shandong, Shaanxi and Gansu. The drought began to hit most parts of China's north in November.

The foul weather has affected 1.07 million hectares of crops and threatened the drinking water supply for 4.37 million people and 2.1 million heads of livestock.

Relief work

Premier Wen Jiabao has urged officials to place "top priority" on relief work as agricultural stability concerned China's bid to revive its economy.

The fight against drought has to do not only with the safety of grain supply but also with the country's efforts to stimulate domestic demand, Wen said during a visit to Henan Province over the weekends.

He said: "It's of vital significance to the overall economy to boost steady growth of grain production and farmers' income."

The premier told local governments to allocate relief funds at the earliest possible time, ensure adequate supply of farm tools, fertilizer and pesticide and subsidize farmers' purchase of urgently needed machinery.

Local governments are also urged to speed up construction of water control works, reservoirs in danger and irrigation projects.

China is to divert water from the nation's longest rivers, the Yangtze and Yellow rivers, to irrigate drought-stricken farmland, a Ministry of Water Resources official said.

http://www.shanghaidaily.com/sp/article/2009/200902/20090209/article_390386.htm



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