Sunday, March 27, 2011

Rs. 5000 Crore Betting’s on India – Pakistan Match!Never Believe a Brahamin! Specially Bengali Brahins who have Partitioned India to Ensure Brahaminical Hegemony Rule in Bengal! Bengali Marxist Brahamins converted themselves OXYZEN Cylinders for last


Rs. 5000 Crore Betting's on India – Pakistan Match!Never Believe a Brahamin! Specially Bengali Brahins who have Partitioned India to Ensure Brahaminical Hegemony Rule in Bengal! Bengali Marxist Brahamins converted themselves OXYZEN Cylinders for last UPA Government just to sustain Manusmriti Rule in the Bleeding Geopolitics continuing Holocaust Infinite. Pranab talks much about Corporate Philanthropy and INCLUSIVE Growth!He had been Finance Minister under Mrs Indira Gandhi and has NATURAL EXPERTISE in Socialist language. His BUDGET this year jumps into Second Phase of LPG Mafia Raj ensuring Complete Annihilation of Mulnivasi Bahujan Eighty Five Percent Aboriginal and Indigenous EXCLUDED Communities. He is the DE FACTO Prime Minister of India Incs Government well Supported by the Brahaminical Hindutva Lobby at home and Global zionist Market dominating Community. Pranab has Masterplanned Diinvestment and Full Proof Privatisation with his Financial Legislation Programme. The Bills have to be PASSED with Excellent Floor Management under Complete ANESTHESIA MIND CONTROL environment. Pension Bill in introduce by the Minority Government of Micro Minority Brhaminical Ruling Class and SBI subsidiary Bill has  been passed as the BUDGET and Finance Bill.We have seen DISASTER in New Mumbai and Raigarh district of Maharashtra , in Orissa and entire Dandakarnya! Just wait to see Mamata Banerjee, the Brahaminical face of Change to be in HELMS! It would be COMPLETE Disaster for the SC,ST, BC, OBC and Minority Communities in Bengal.Genocide Masters Marxists killed TRADE Unions countrywide and allowed US Imperialism, Free Flow of Foreign Capital, Economic Reforms and Ethnic Cleansing systematically. No one would be weeping for Marxists  in Bengal.But Mamata PRANAB Combination heralds TSUNAMI for Indian Majority Masses! Pension gone to Private sectors. DTC and GST changing Taxation Structure to continue the STIMULUS for the LPG Mafia, Second GREEN Revolution to kill Rural India along with Multi Brand Retail FDI and INFRASTRUCTURE REALTY Boost while ONGC,SAIL,OIC, SBI and LIC along with Railway and POSTS have to be Disinvested. 79 percent FDI to be allowed in Bank and Insurance sectors as Gates and BUFFET enter the FREE Market FREE Hunting ground! Just Be Aware! MAHAPRALAYA waits for you in 2012. NEVER Believe any BRAHAMIN! Never Believe PRANAB Mukherjee! BJP uses HINDUVA to mobilise Vote Bank and CHIDAMBARAM EXCLUDES Entire North India. Wikileaks EXPOSURE Continues. and Now Finance Minister Pranab Mukherjee today termed as "conjectures and media speculations" the reported differences between him and the Reserve Bank of India on capping FDI at 49 per cent in new commercial banks, the licences for which are likely to be issued soon.Govt to borrow Rs 2.5 lakh cr in first half of current fiscal!For whom?Mohali match: World Cup fever strikes India before semi-final clash!

Indian Holocaust My Father`s Life and Time - SIX HUNDRED SIX

Palash Biswas

http://indianholocaustmyfatherslifeandtime.blogspot.com/

http://basantipurtimes.blogspot.com/


Govt to borrow Rs 2.5 lakh cr in first half of current fiscal!

For whom?


Never Believe a Brahamin! Specially Bengali Brahins who have Partitioned India to Ensure Brahaminical Hegemony Rule in Bengal! Bengali Marxist Brahamins converted themselves OXYZEN Cylinders for last UPA Government just to sustain Manusmriti Rule in the Bleeding Geopolitics continuing Holocaust Infinite.

Pranab talks much about Corporate Philanthropy and INCLUSIVE Growth!He had been Finance Minister under Mrs Indira Gandhi and has NATURAL EXPERTISE in Socialist language. His BUDGET this year jumps into Second Phase of LPG Mafia Raj ensuring Complete Annihilation of Mulnivasi Bahujan Eighty Five Percent Aboriginal and Indigenous EXCLUDED Communities. He is the DE FACTO Prime Minister of India Incs Government well Supported by the Brahaminical Hindutva Lobby at home and Global zionist Market dominating Community.

Pranab has Masterplanned Diinvestment and Full Proof Privatisation with his Financial Legislation Programme.

The Bills have to be PASSED with Excellent Floor Management under Complete ANESTHESIA MIND CONTROL environment.

Pension Bill in introduce by the Minority Government of Micro Minority Brhaminical Ruling Class and SBI subsidiary Bill has  been passed as the BUDGET and Finance Bill.

We have seen DISASTER in New Mumbai and Raigarh district of Maharashtra , in Orrissa and entire Dandakarnya!

Just wait to see Mamata Banerjee, the Brahaminical face of Change to be in HELMS!

It would be COMPLETE Disaster for the SC,ST, BC, OBC and Minority Communities in Bengal.

Genocide Masters Marxists killed TRADE Unions countrywide and allowed US Imperialism, Free Flow of Foreign Captal, Economic Reforms and Ethnic Cleansing systematically.

No one would be weeping for Marxists  in Bengal.

But Mamata PRANAB Combination heralds TSUNAMI for Indian Majority Masses!

Pension gone to Private sectors.

DTC and GST changing Taxation Structure to continue the STIMULUS for the LPG Mafia, Second GREEN Revolution to kill Rural India along with Multi Brand Retail FDI and INFRASTRUCTURE REALTY Boost while ONGC,SAIL,OIC, SBI and LIC along with Railway and POSTS have to be Disinvested.

79 percent FDI to be allowed in Bank and Insurance sectors as Gates and BUFFET enter the FREE Market FREE Hunting ground!

Just Be Aware! MAHAPRALAYA waits for you in 2012.

NEVER Believe any BRAHAMIN!

Never Believe PRANAB Mukherjee!

BJP uses HINDUVA to mobilise Vote Bank and CHIDAMBARAM EXCLUDES Entire North India. Wikileaks EXPOSURE Continues.

And Now Finance Minister Pranab Mukherjee today termed as "conjectures and media speculations" the reported differences between him and the Reserve Bank of India on capping FDI at 49 per cent in new commercial banks, the licences for which are likely to be issued soon.


  1. Resolution Nofifying Constitution of Financial Sector Legislative ...

    25 Mar 2011 ... Interactive Platform for Finance Professionals and Taxpayers of India.
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    25 Mar 2011 ... The Resolution notifying the constitution of Financial Sector LegislativeReforms Commission (FSLRC) was issued today by the Government of ...
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    25 Mar 2010 ... "We believe that the fight against financial reform is shortsighted ...Legislation should include some form of the "Volcker rule," which ...
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  6. CURRENT AFFAIRS: Resolution Nofifying Constitution of Financial ...

    25 Mar 2011... the constitution of Financial Sector Legislative Reforms Commission ... with the requirements of India's fast growing financial sector. ...
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    Press Release Subject: Financial Sector Legislative Reforms ...

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    24 Mar 2011 ... in the next generation of reforms, contribute to efficient financial ... theFinancial sector in India,. (ii) Examine if legislation should ...
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    2 Mar 2011 ... Pranab seeks India Inc.'s help for consensus on financial reform Bills ...long-pending pro-reform legislation in the financial sector as ...
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  9. Pranab pitches for financial sector reforms - Yahoo! India Finance

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  10. Financial Sector Legislative Reforms Commissi News Photos Videos ...

    Kill corruption, adopt reforms: PM - Rediff.com India News ... You are creating legislationthe prime minister's financial integrity. ...
    www.rediff.com › News - 

    UPA gets moving on reforms 

    Livemint - Sanjiv ShankaranLiz Mathew - ‎Mar 22, 2011‎
    The banking reforms Bill was introduced almost six years after the UPA unsuccessfully tried to push it through Parliament in its first stint in power from 2004-09. The highlights of Tuesday's banking Bill are that it arms the Reserve Bank of India ...

    Govt forms FSLRC to examine oversight on regulators 

    Business Standard - ‎Mar 24, 2011‎
    PTI / New Delhi March 24, 2011, 19:32 IST The government today constituted the Financial Sector Legislative Reforms Commission (FSLRC) headed by former Justice BN Srikrishna, to examine the means of oversight on regulators and their autonomy from the ...

    Indian PM commits to reforms 

    AFP - ‎Mar 26, 2011‎
    India's government earlier in the week introduced legislation to pave the way for the passage of the far-reaching reform aimed at simplifying tax on goods and services. The long-delayed GST seeks to harmonise the tax structure among India's 29 states ...

    India to overhaul outdated fin regulation 

    GFS News - Andrew Hickley - ‎Mar 25, 2011‎
    The Indian government has established a commission looking to simplify and harmonise a range of outdatedfinancial legislation. Launched yesterday, the Financial Sector Legislative Reforms Commission will submit a report to the Indian finance minister ...

    Singh eyes finance reform to break logjam 

    Financial Times - James Lamont - ‎Mar 22, 2011‎
    Those closest to Mr Singh said the renewed drive to push forward financial reform was an expression of intent by the ruling party to break the debilitating logjam in parliament. Parliamentary progress in India is at its worst for 25 years. ...

    Upcoming financial legislative initiatives 

    Sify - ‎Mar 1, 2011‎
    New Delhi, March 1 (IANS) With an eye to growth through economic reforms, the government hopes to introduce at least seven financial legislations that found mention in Finance Minister Pranab Mukherjee's budget speech. Following is a brief description ...

    PM's address at 46th Convocation of Indian Institute of Management, Ahmedabad 

    Press Information Bureau (press release) - ‎Mar 26, 2011‎
    They have all made India proud. 2011 marks the twentieth anniversary of the launch of economic reforms in India. I had the privilege of addressing the institute's convocation in 1994 in the early days of our reform process. The path was new; ...

    Cabinet clears twin bills to hasten reforms 

    Calcutta Telegraph - ‎Mar 17, 2011‎
    Finance minister Pranab Mukherjee had in the budget proposed to take up the passage of sixfinancial sector reform bills, including the SBI (Subsidiary Banks Laws) Amendment Bill, 2009. The amendments to SBI rules were necessary as these powers were ...

    Commission for financial reforms gets PM's Nod 

    Business Standard - ‎Mar 17, 2011‎
    It will also examine a case for greater convergence of regulation and streamline the regulatory architecture of financial markets. As part of financial sector reforms in India, an apex-levelFinancial Stability and Development Council (FSDC) was also ...

    Get states on board, FM tells India Inc 

    Economic Times - ‎Mar 1, 2011‎
    Finance minister Pranab Mukherjee on Tuesday sought help from India Inc in convincing political parties and states to push forward pending financial sector reform legislation, such as the Goods and Services Tax bill. Mukherjee's fervent appeal came at ...

The government today said it will borrow over 60 per cent of the total budgeted market borrowings for the next fiscal in the first half of the current fiscal, which would amount to Rs 2.5 lakh crore.

India's finance minister introduced a long-awaited pension bill in parliament on Thursday that would pave the way for private players in the sector and help cut government spending.

World Cup fever struck India seriously the moment it became apparent that the co-hosts would meet Pakistan in the second semi-final in Mohali this Wednesday.

Yuvraj Singh's boundary off Brett Lee to win India's quarter-final against defending champions Australia last Thursday sparked national euphoria.

It also relegated Tuesday's first semi-final between 1996 champions Sri Lanka and New Zealand in Colombo to the status of a sideshow.

For the first time three Asian teams will contest the semi-finals while the India-Pakistan clash will be the first in India since 166 people were killed in Mumbai in 2008. India has blamed Pakistan-based militants for the attacks.

The two nations have subsequently agreed to resume formal peace talks and on Sunday it was announced that Pakistan Prime Minister Yusuf Raza Gilani had accepted an invitation from Manmohan Singh to attend Wednesday's match in Mohali.

On the cricket pitch the rivalry has been intense and, according to the historian and cricket writer Ramchandra Guha, the television audience when Sachin Tendulkar faced the former Pakistan bowler Wasim Akram exceeded the entire population of Europe.

Tendulkar, one century away from a scarcely believable 100 international hundreds, will face the new ball again on Wednesday before 30,000 spectators in the Chandigarh stadium.

He has already scored centuries against England and South Africa in the tournament, although India took only one point away from both those matches.

Tendulkar and Virender Sehwag, who scored 175 in the opening match against Bangladesh, head a batting line-up of awesome potential which will face a versatile and successful Pakistan attack in a classic one-day confrontation.

Much of the credit for Pakistan's progress in the tournament goes to captain Shahid Afridi, who has created unity from discord while bowling his brisk wrist spin to devastating effect.

CONFIDENT SRI LANKANS

Pakistan no longer play matches at home since the armed attack on the Sri Lanka team bus in 2009 and a corruption scandal overshadowed their tour of England last year.

Bookies bet on Pakistan to lift Cup

Ashish Mehta, TNN, Mar 24, 2011, 12.54am IST
JAIPUR/JAISALMER: Pakistan's splendid performance in the quarter final match against West Indies and their earlier win against world champions Australia, have pushed them up the betting table and made them the favourites to lift the Cup this time.

In fresh odds released, Pakistan, which won the World Cup in 1992, has once again emerged as the frontrunner to win the Cup, while last time champs Australia have fallen in the bookies' preference list. India, which started as the favourites in the tournament are the bookies bet to beat Australia in the quarterfinals on Thursday. However, after a few dismal performances against South Africa and England, bookies are not too sure about the team lifting the Cup.
http://articles.timesofindia.indiatimes.com/2011-03-24/jaipur/29182119_1_bookies-bet-favourites-australia

Budget 2011

Budget hike won't help education sector: Kapil Sibal

IANS
According to Ernst and Young, nearly 40 million students are expected to opt for higher education by the year 2020, compared to the current 17 million.

Demand for more funds to agriculture, education sectors

PTI
More emphasis on investment in agriculture, increasing expenditure on education and tackling price rise were some of the demands made by members in Lok Sabha.

Under developed, special states to benefit from Budget: Fitch

PTI
The budget expects the economic to grow by 8.6% in the financial year ending 31 March 2011, and the government expects a growth of 9% in 2011-12.

The 'saat khoon maaf' budget

The Budget provisions too little money for subsidies, including the newly announced Food Security Act, which could cost over 1% of GDP.

Healthcare likely to be spared from service tax

ET Bureau
Govt is likely to withdraw service tax imposed on healthcare services in Union Budget following a strong reaction from public and medical fraternity.
Budget mildly positive for pharma industry
Budget mildly positive for pharma industry
Umang Vohra
Dr. Reddy's Laboratories, CFO
Union Budget 2011 will push growth further
Union Budget 2011 will push growth further
Sandesh Kirkire
Kotak Asset Management, CEO
Union Budget 2011 is growth oriented
Union Budget 2011 is growth oriented
CS Verma
SAIL, Chairman
Impetus to infra will help achieve target growth
Budget pampers the rich and burdens consumers
Budget pampers the rich and burdens consumers
Sitaram Yechury
CPM, Member Polit-Bureau
No big-bang reform measures announced
No big-bang reform measures announced
Sunil Mittal
Bharti Enterprises, Chairman & CEO
FM's head is in right place, so is his heart
FM's head is in right place, so is his heart
Mukesh Ambani
RIL, Chairman & MD
Smart call on keeping stimulus, tackling corruption
Smart call on keeping stimulus, tackling corruption
Kumar Birla
Aditya Birla Group, Chairman
Govt must hold the line on expenditure
Govt must hold the line on expenditure
Ajay Srinivasan
Aditya Birla Group, CEO
GST will solve lot of macroeconomic issues
GST will solve lot of macroeconomic issues
Adi Godrej
Godrej Group, Chairman

Rs. 5000 Crore Betting's on India – Pakistan Match

Published on March 26, 2011 by Anil   ·   1 Comment
An India-Pakistan match is almost always a big money-spinner, and a World Cup semi-final clash is as big as it gets. Bookies and punters across the country are gearing up to run a show that is estimated to rake in Rs. 5,000 crore on the betting circle as India takes on Pakistan in the semi-final at Mohali on March 30.
Minutes after India's win over Australia in the quarter-final clash at Ahmadabad, bookies unable to predict a clear winner have rated both India and Pakistan at 90 paisa to win the semi-final clash. "Both are strong teams. But the rates could reopen on Friday," informed a senior bookie.
Even as the police stepped up vigil, bookies fear that members of the Dawood Ibrahim gang could make a windfall from the turnover. Dawood's presence in Karachi could play a major role in the outcome of the match fear Mumbai bookies. There are reasons to suspect that some of the bookies owing allegiance to the D Company may default under pressure from Dawood's henchmen. "The possibility of sauda fok is not ruled out if Pakistan loses the match against India," a senior bookie pointed out.
Joint Commissioner of Police (crime) Himanshu Roy on the other hand said his men are on alert looking out for bookies and punters. "We are trying to track them," remarked Roy. Insiders informed that the India-Pak match is expected to bring a windfall to hawala operators across the sub-continent. A large number of high profile bookies from Pakistan are planning to 'cut' their bets through Dubai, which is the hub of illegal money transfers during the betting season.

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Tags:  Bettings, Bookie, brokers, fixing, India, match, Mohali, Pakistan, Police, punters,security, vs
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Cricket fever touches crescendo ahead of India-Pakistan clash

Indian Express - ‎19 minutes ago‎

Cricket fever was at its peak as scores of fans lined up outside the PCA stadium hoping to catch a glimpse of their favourite stars while some searched desperately for non-existent tickets for the high-voltage semi-final between India and Pakistan. ...

Ind vs Pak: Indians enjoy light training session

Times of India - ‎25 minutes ago‎

PTI | Mar 27, 2011, 10.20pm IST MOHALI: With high-voltage semifinal clash between India and Pakistan scheduled on Wednesday, Indian team had a light training session playing football and volleyball while Pakistani players enjoyed an extensive net ...

Gilani accepts Manmohan invite

Livemint - Elizabeth Roche - ‎36 minutes ago‎

New Delhi: Pakistan's Prime Minister Yousaf Raza Gilani has accepted an invitation from Manmohan Singh to visit the country this week to watch a cricket match between their national teams, a move that could help improve ties between the nuclear rivals. ...


"This is not a question of diplomacy. People on both sides are coming together for the games. We hope this togetherness stays in the political sphere also," said Telecom Minister Kapil Sibal.

more by Kapil Sibal - 1 hour ago - NDTV.com (2 occurrences)




Indo-Pak Secy talks: issues to be considered

IBNLive.com - ‎45 minutes ago‎

New Delhi: Home Secretaries of India and Pakistan will meet in New Delhi on Monday in the shadow of a possible summit meeting between the two sides on the margins of the cricket encounter in Mohali. As Yuvraj Singh and Shahid Afridi polish their sixes ...

Cricket diplomacy: Will it work?

NDTV.com - ‎1 hour ago‎

New Delhi: Come March 30 and India-Pakistan will play one of the most important matches of their lives - the World Cup semi-final at Mohali. Witnessing the match from the VIP stands will be no less Prime Minister Manmohan Singh and his Pakistani ...

Three held for black marketing India-Pakistan match tickets

Economic Times - ‎2 hours ago‎

CHANDIGARH: Chandigarh Police Sunday arrested three men for attempting to black-market tickets of the India- Pakistan cricket World Cup semifinal at Mohali May 30, police said here. Hemant Kumar, Rohit Sharma and Jasmeet Singh, aged 18-20 years, ...

Three contests which could decide the India-Pakistan semifinal

The Hindu - ‎2 hours ago‎

The Hindu Indian skipper MS Dhoni and Sachin Tendulkar in action during a training session at Mohali on Sunday. Photo: S. Subramanium The weather is pleasant here during spring summer. But then, the cricketing temperature is hotting up. ...

<B>Sanjaya Baru:</B> Manmohan Singh bats again

Business Standard (blog) - Sanjaya Baru - ‎2 hours ago‎

Six years ago, in early March 2005, Pakistan's President Pervez Musharraf let it be known to the media in Islamabad that he wished to travel to India to watch one of the India-Pakistan cricket matches that spring. New Delhi was stumped into silence for...

2200 cops deployed for semis as Mohali turns into fortress

Times of India - ‎2 hours ago‎

PTI | Mar 27, 2011, 08.11pm IST MOHALI: The Punjab Cricket Association stadium has turned into fortress with nearly 2200 cops being put on duty for the high-profile World Cup semifinal clash between India and Pakistan which will be attended by Prime ...

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Cricket

Soccer

Mohali

Pakistan

India

Timeline of articles

Number of sources covering this story

Ind vs Pak: Indians enjoy light training session

‎25 minutes ago‎ - Times of India

Pak hope for Afridi magic to beat India

‎Mar 26, 2011‎ - Cricketnext.com

Ind vs Pak: Indian team reaches Chandigarh for the high-voltage semifinal

‎Mar 26, 2011‎ - Times of India

'Ball expected to seam at Mohali under lights'

‎Mar 26, 2011‎ - Hindustan Times

TV advertisement rates for India-Pak semifinal up by 350%

‎Mar 25, 2011‎ - Times of India

Pak want to avenge WC defeats from India

‎Mar 25, 2011‎ - Cricketnext.com

Tickets for Mohali semifinals sold out in record time

‎Mar 25, 2011‎ - Times of India

Each one of us wanted India to win: Pak manager

‎Mar 24, 2011‎ - Indian Express

A perfect Pakistan Day present

‎Mar 23, 2011‎ - The News International



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Pak experiments in practice, Imran Khan backs India

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Yousuf Gilani to visit Mohali for Ind-Pak match

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The Pension Regulatory and Development Authority (PFRDA) bill, which would allow part investment of the corpus in the stock market, will take time for parliamentary approval as the current session of parliament ends on Friday.

The bill had failed to get parliamentary approval in the previous term of Prime Minister Manmohan Singh's government due to strong opposition from its then Left allies.

The coalition has the majority now to get it passed, and the main opposition Bharatiya Janata Party has indicated it would not oppose the bill.

The proposed legislation was silent on allowing foreign companies to invest up to 26 percent in pension funds that was part of a draft, but said the government would separately announce foreign investment policy for the sector.

The bill provides powers to the PFRDA to oversee multiple pension funds in the country.

All the employees of the federal government except the armed forces, who have joined since January 2004, would be covered by the proposed National Pension System under the new legislation.

Twenty seven states have agreed to join the new pension system, the bill said, under the proposed law that is expected to provide social security to millions of employees and funds for infrastructure sector.

On the other hand,India's monetary policy policy will continue to be tight to curb high inflation, the prime minister's top economic adviser said on Friday, forecasting headline inflation to ease to 7.5 percent in March.

"The inflation rate continues to be high and therefore the monetary policy will have to remain tight," C. Rangarajan, chairman of the prime minister's Economic Advisory Council, told reporters.

RBI has raised policy rates eight times in the last 12 months as headline inflation stays way above its comfort level of around 5 percent.

RBI has warned of more inflationary pressures, prompting analysts to expect further rounds of monetary tightening this year.

Wholesale price inflation , the most widely watched gauge of prices in India, unexpectedly quickened to 8.31 percent in February.

Finance Minister Pranab Mukherjee expects inflation to cool to around 7 percent in March, while the central bank's target is 8 percent.

Wholesale price inflation would average 6 percent in 2011/12, Rangarajan said.

He also said the current account deficit in 2010/11 would be only slightly above 2.5 percent of GDP and expected capital inflows of around $60 billion in the year would be enough to finance it.

Department of Economic Affairs (DEA) Secretary R Gopalan told reporters after a meeting that the gross borrowing of the government would be Rs 2.5 lakh crore in the first half (April-September) of the 2011-12 fiscal.

Prospects of tax buoyancy on the back of robust economic growth have lowered the government's dependence on market borrowings, pegged at Rs 4.17 lakh crore for 2011-12, against Rs 4.47 lakh crore as per the revised estimates of the current fiscal.

"Our own requirement in absolute terms is the same, which means in percentage terms it is less. So there is free space for the private sector to access the market," Gopalan said.

Lower government borrowings for the entire fiscal will have a positive impact for the private sector, as they would not crowd out the resources as much as they did in the current fiscal (2010-11).

"Our experience is that private sector gets into the market in the second half and state governments also access the market. So governments usually access the market in first half," the DEA Secretary said.

The net market borrowing of the central government through the issue of dated securities in 2011-12 is estimated to be Rs 3.43 lakh crore.

Finance Minister Pranab Mukherjee today sought higher investments from companies in return for boosting their business margins through budget proposals like sparing any hike in excise duty rates.

He also sought help from Corporate India in pushing further the government's economic growth and reforms agenda and said this support was necessary for him to meet their expectations.

"Just as I have to meet up to your expectations to get you to scale new heights of productivity and growth, you also have to meet my hopes, in the process strengthening my hands," he said in opening remarks at post-budget conference organised by industry chamber Assocham here today.

"Reforms are not a one shot exercise; they have to be pursued continuously in keeping with the changing contexts and the growing aspirations of the people. I can do more, when I have the space to do more. You have to do your bit to create that space for me," he added.

Speaking about this year's budget proposals, Mukherjee said that he had "the option to roll back the central excise duty to levels prevailing in November 2008. I have chosen not to do so and retain the rates at 10 per cent for two reasons."

"I would like to see improved business margins translated into higher investment rates. I would also like to stay my course towards GST," he added.

Mukherjee said that he wanted to address some "topical and emerging concerns" through his budget proposals.

"It is only then that I could hope to bring a convergence in the expectations of our investors, entrepreneurs and consumers on the macroeconomic prospects of the economy, and elicit the required response from them," he said.

He listed out five principal objectives for this year's budget proposals, the first being stronger fiscal consolidation to enlarge the resource space for private enterprise.

"Secondly, improving the supply response of agriculture to the expanding domestic demand. Together with fiscal consolidation, it would help in addressing inflationary pressures in the medium term.

The third objective, he said, was to take forward the process of reforms including in the financial sector, and the fourth was a continued thrust on an inclusive development process.

Mukherjee said that the final objective was to undertake reforms for simplifying and placing the administrative procedures concerning taxation, trade and tariffs and subsidies on electronic interface, free of discretion and bureaucratic delays.

"This would also prepare the ground for the implementation of the DTC and hopefully the GST as well, from April 2012," he said.

"These are all conjectures. There is no question of happiness or unhappiness. We have just received the draft guidelines from the RBI and it is being examined. These are the two wings of the government; we work together and do not indulge in these kinds of speculations," Mukherjee said as he rubbished his reported differences with the central bank on the draft proposals.

The Finance Minister was interacting with the media after addressing a post-budget meet organised by the Assocham. The norms seek a cap on foreign direct investment in new private sector banks at 49 per cent.

Earlier in the day, Mukherjee said: "We are studying the Reserve Bank's final draft proposals (on new private bank licences). We would take a call on it soon." He was said on the sidelines of Sir Sorabji Pochkhanawala (founder of Central Bank of India) Memorial Lecture 2011 as part of the bank's centenary year celebrations here.

There were reports in a section of the media that the Finance Ministry was opposed to the RBI suggestion to restrict FDI in new banks to 49 per cent as the change in norms would hurt investor sentiment. The Ministry reportedly asked RBI to reconsider the same.

The move will help the government and the RBI to discourage flow of hot money, which has crossed over USD 60 billion this fiscal, in the country.

The ministry has also reportedly asked the RBI to ensure the guidelines clearly say that the new banks would be exempted from Press Notes 2, 3 and 4. Without such exemptions, these banks would become foreign banks if overseas investment in them crosses 50 per cent, which in turn would lead to imposition of the same restrictions on them that apply on foreign companies.

Already the country's largest two private sector banks -- ICICI and HDFC's nationality is under cloud as over 50 per cent of their stake are owned by FIIs.

Earlier this month, the RBI had submitted its final draft proposal on new private bank licences to the finance ministry in which it called for a holding company structure for promoters of new banks besides capping the FDI at 49 percent.

Banking services to all Indians by next year: RBI

AGARTALA: Mainstream banking services would be provided to all unbanked semi-urban, rural and remote areas having population of 2,000 by next year, top Reserve Bank of India (RBI) officials said here Saturday.

"To save the poor people from usurers and to provide regular banking services to 100 percent adult people across the country, specially in the remote areas, traditional banking system are being changed gradually," RBI Executive Director Dipak Kumar Mohanty told reporters.

He said: "Where bank branches could not be set up, the central bank has asked all the banks to engage retired bank officials, locals and societies (moving with biometric and other devices) as business correspondents (BC) to extend the banking services to all the adult citizens."

The RBI as part of its platinum jubilee celebrations has been organising financial outreach camps in semi-urban, rural and remote areas since 2009 across the country to make people aware about the banking services, dubious activities of unauthorised non-banking financial companies (NBFCs) and institutions, besides bringing all the people under the banking services.

Mohanty accompanied by RBI's Guwahati based regional director Surekha Marandi and top bank officials attended an outreach camp at Garjanmura, 65 km south of Agartala.

Mohanty and Marandi said the RBI would set up more sub-offices in northeastern states to improve the monitoring system of the nationalised and regional rural banks besides NBFCs in the region.

"RBI has decided to open its sub-offices in six northeastern states - Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura and Meghalaya - in a phased manner," Mohanty said.

According to the officials, the first such sub-office of the RBI is expected to be inaugurated in Tripura capital Agartala May 18.

The RBI and top bank officials during the outreach camp explained the local people about opening of the no-frill (zero balance) account, taking loans from the banks with trouble-free method, increasing of credit-deposit ratio and safe deposit of their hard earned money.

The officials said NBFC's not recognised by the RBI, the Insurance Regulatory Development Authority ( IRDA )) or the Securities and Exchange Board of India (SEBI) cannot do any monetary business or take deposit from people.

"People in many cases fall into the trap of hefty returns in quick succession from their investments in the capital markets or unauthorised financial institutions," the RBI officials said.

No decision yet on FDI in multi-brand retail: Pranab

The government is yet to take a decision on opening up multi-brand retailing to foreign direct investment (FDI), Finance Minister Pranab Mukherjee told the Lok Sabha on Friday.

Replying to a calling attention motion from Communist Party of India (CPI) leader Gurudas Dasgupta and Bharatiya Janata Party (BJP) member Nishikant Dubey, Mukherjee said there was no such recommendation or proposal made to the government for liberalising FDI in the multi-brand retailing sector.

"There is no recommendation for FDI in multi-brand trading. Government has not taken any decision on this," he said.

"I am repeating...government has not taken any view on it at all because the issue is complex," he added.

Referring to the Economic Survey that the government presented in parliament last month, Mukherjee said the beauty of the report lay in the freedom given to the analysts "not to jaundice" their analysis on the basis of the official view of the government.

"The analysts have been asked to apply their mind. Though the stated policy of the government may be something, the economic survey may vary from it," he added.

The finance minister said the house could discuss only a decision already taken by the government. "When the decision is in the process of being taken, it is the domain of the executive. Once a decision is taken, then it is in the public domain and hence it can be discussed, debated, agreed to, or opposed."

Mukherjee said there was no "cause of action" for the calling attention motion and added: "Can I give any blanket assurance?"

He also noted that the governments since 1997 had formulated different policies on FDI with some safeguards. "It is not a decision of merely one government."

Assuring the house that efforts are made to evolve a consensus as broad as possible, Mukherjee said: "I do not claim it (policy) is perfect."

He also noted that the calling attention had to be directed towards the commerce minister as the FDI was a subject dealt by him, though the finance minister had an overall responsibility.

Under the existing rules, the FDI is not allowed in retail, except for trade of "single brand" products, where up to 51 percent foreign investment is permitted. The FDI up to 100 percent is also allowed in wholesale cash-and-carry trade.

Govt, RBI working to lower banking costs, expand reach: FM

MUMBAI: Expressing concern over high costs and limited reach of banking services, Finance Minister Pranab Mukherjee today said that the government was working in collaboration with RBI to address these concerns.

"The cost of banking intermediaries in India is high and bank penetration is limited to only a few customer segments and geographies," Mukherjee said here today.

"We are trying to address this in collaboration with the Reserve Bank of India , and with the active participation of the banking and non-banking financial entities," he added.

Mukherjee also said that there was a need to "reflect upon possible flaws in our system and address them to withstand adversities. We need to make our financial sector more competitive by enhancing efficiency and transparency."

"While greater competition is welcome, we have to guard against the competitive race to the bottom," he said, while expressing hope that this perspective would guide the growth of Indian banking system in the coming years.

Mukherjee was speaking at Sir Sorabji Pochkhanawala Memorial Lecture 2011 as part of the centenary celebrations of Central Bank of India . The PSU bank was set up by Sir Sorabji Pochkhanawala.

The Finance Minister said that PSU banks were playing a very important role in India's economic growth and they constitute over 72 per cent of the banking sector assets in the country.

"While they are expected to improve their outreach and scalability for sustaining high growth of the economy, they are second to none in retail banking practices and profitability.

"There are, however, several concerns that need to be fully addressed," Mukherjee said, in reference to the issues like high costs and need to expand the banks' reach to more customer segments and geographies.

The minister said that most of the financial sector policies in the past few decades were aimed at accelerating the penetration of the banking and financial services.

"However, as I said, the outcomes of these efforts are yet to show the desired results. Newer perspectives and approaches towards financial inclusion are the need of the hour.

"There is a case for the policy makers and other stake holders to re-strategize the financial policies that are meant to reach the un-reached and the unbanked sections of our country," he added.

To address the issue of capital constraints faced by the PSU banks, Mukherjee said the government had provided over Rs 20,000 crore towards recapitalisation of public sector banks during 2010-11.

"An additional amount of Rs 6,000 crore is also being provided for 2011-12. This will enable the PSBs to meet the credit requirements of the growing economy," he added.

26 Mar, 2011, 03.44AM IST, Dheeraj Tiwari,ET Bureau
Employees of govt loss-making companies to get pay hikes

NEW DELHI: The government plans substantial pay hikes for the employees and directors of loss-making companies run by it, as it looks to motivate the staff to support turnaround plans at 54 such firms.

The ministry of heavy industries, which oversees the functioning of 213 central public sector units, will examine the current pay policy in sick enterprises before chalking out a fresh policy. "Employees in sick companies are functioning under adverse conditions. We are looking to incentivise both employees and board members of these companies," said an official with ministry.

"Post-retirement benefits, additional gratuity and other sops are being considered," he said.

The 54 sick PSUs posted combined losses of 14,424 crore in 2008-09, a 40% increase over the previous year. West Bengal-based Eastern Coalfields recorded 2,109 crore losses, while Jharkhand-based Bharat Coking Coal posted 1,380 crore losses.

The ministry plans to set up a committee to look into issues involving sick enterprises and to decide if there is a need for financial incentives to motivate employees, said the official, who asked not to be named. It may also consider giving stiff pay hikes to the CEOs of sick PSUs to retain them. They may also be offered additional incentives for turning around sick companies.

The ministry has already approved extension of tenure by 5-years for the CEOs of sick companies, which have turned around and posted profits in the last three years. At present, companies that have posted profits are allowed to give performance-linked pay.

The second pay revision committee had recommended that employees of the PSUs that are recommended for closure should be compulsorily retired by paying compensation based on the revised basic pay. "This new pay policy will be made applicable in only those cases where some revival has shown," the official said, adding that terminally sick cases will be divested.

The government has already introduced new parameters for evaluation of sick companies, based on targets achieved under the revival plan. The criteria include upgrade of technology and efficient utilisation of non-performing assets . Recently, the ministry of heavy industries had moved a cabinet proposal for full stake sale in Scooters India and HMT Bearings. Heavy industries minister Praful Patel said a 'fundamental call' needs to be taken on those companies, which cannot be turned around.

http://economictimes.indiatimes.com/news/economy/policy/employees-of-govt-loss-making-companies-to-get-pay-hikes/articleshow/7790482.cms


Gujarat not ready for implementation of GST: State govt

GANDHINAGAR: Though the Goods and Services Tax (GST) bill has been tabled in the Lok Sabha, the Gujarat government today said in the state Assembly that it was not ready to implement it.

Minister of State for Industries, Saurabh Patel, told the House that state government was not prepared to implement GST as it would take away state's autonomy in taxation and inflict revenue-loss of over Rs 3,000 crore.

"It is not just the BJP-ruled states which are opposing the implementation of GST, even the Tamil Nadu Chief Minister M Karunanidhi has refused to implement it," Patel said during a debate on budgetary demands of Finance Department.

Citing a report of the National Institute of Public Financial Policy , released in December last year, Patel said Gujarat would incur a loss of over Rs 3,000 crore upon implementation of GST, while the loss to the country was pegged at over Rs 31,000 crore.

"We had suggested to the Centre that Information Technology (IT) infrastructure should be put in place before the roll-out of GST, otherwise it cannot be implemented," Patel said.

He claimed that 25 meetings with the Centre so far had failed to resolve the objections raised by the states.

"GST roll-out will be beneficial for luxury products, while the tax on essential goods like wheat, cotton, cumin, handicrafts is likely to go up, hurting the common man," Patel said.

Cricket fever touches crescendo ahead of India-Pakistan clash 

Indian Express - ‎47 minutes ago‎
Cricket fever was at its peak as scores of fans lined up outside the PCA stadium hoping to catch a glimpse of their favourite stars while some searched desperately for non-existent tickets for the high-voltage semi-final between India and Pakistan.

Gopal Dass' family happy 

Hindustan Times - ‎1 hour ago‎
Gopal Dass, now 52, wrote a letter to his father from jail in Lahore in 1999, not knowing that he had died 14 years earlier in 1985.

BJP used religion as opportunistic tool: Congress 

Sify - ‎2 hours ago‎
New Delhi, March 27 (IANS) Attacking Bharatiya Janata Party (BJP) leader Arun Jaitley over his denial of the comments he allegedly made on the party's stand on Hindu nationalism, the Congress Sunday said it was time the BJP admitted that it had used ...
Times of India - Indian Express - IBNLive.com - NDTV.comहिंदी में










--

"However, I have decided to exempt the new levy in its entirety both in respect of services provided by hospitals as well as by way of diagnostic tests until the GST comes into force"
Mar 22, 2011 The Hindu (78 occurrences)

India ready if Eurozone crisis spreads: Pranab 

Hindustan Times - ‎1 hour ago‎
India is well prepared if the Eurozone crisis that threatens to snowball in to a global situation similar to that of financial crisis in 2008, said finance minister Pranab Mukherjee on Sunday. "I am concerned that the situation emerging in the small ...

Eye on polls, Pranab offers edu help to Santhals 

Times of India - Sanjay Ojha - ‎11 hours ago‎
RANCHI: Pranab Mukherjee on Saturday said that the Centre would offer "all possible help" to revamp Sidho-Kanho Murmu University in Dumka. The Union finance minister's remarks assume significance as not only the move will benefit the Santhals who form ...

Pranab's son among many new faces in Cong list 

Indian Express - ‎Mar 25, 2011‎
Prominent among the new faces is Abhijit Mukherjee, son of Union Finance Minister and party veteran Pranab Mukherjee. The list, announced by the All India Congress Committee, also includes seven of the 10 names forwarded by the Youth Congress. ...

No decision yet on multi-brand retail FDI: Pranab Mukherjee 

Economic Times - ‎Mar 25, 2011‎
NEW DELHI: The government has not taken a decision yet on opening up multi-brand retail to foreign investors, finance minister Pranab Mukherjee told the Lok Sabha on Friday. "The government has not taken any decision in this regard," Mukherjee said in ...

Pranab Mukherjee sees 9% growth in 2011-12 

Economic Times - ‎Mar 24, 2011‎
NEW DELHI: India should be able to achieve a 9% growth in the next fiscal, finance minister Pranab Mukherjee said in the Rajya Sabha on Thursday. If the investment level is around 35-36%, it will be possible to have 9% growth, he said in his reply to ...

Rethink garments levy, CM tells Pranab 

Times of India - ‎Mar 25, 2011‎
KOLKATA: Chief minister Buddhadeb Bhattacharjee on Friday wrote to Union finance minister Pranab Mukherjeeurging him not to impose the mandatory levy on ready-made garments proposed in the Union budget. Bhattacharjee had made the request in a letter ...

PM adviser says sees March inflation at 7.5 % 

Economic Times - ‎Mar 24, 2011‎
Wholesale price inflation, the most widely watched gauge of prices in India , unexpectedly quickened to 8.31 percent in February. Finance Minister Pranab Mukherjee expects it to be at around 7 percent in March, while the central bank's target is 8 ...

Longer jail term for melting, destroying coins 

Daily News & Analysis - ‎Mar 25, 2011‎
The Coinage Bill 2009, which was adopted by voice vote after finance minister Pranab Mukherjee moved it for consideration and passage, amalgamates four existing laws related to coinage and revises the provisions of these Acts. The bill was introduced ...

No misery, 5% service tax on healthcare goes 

Financial Express - ‎Mar 23, 2011‎
New Delhi: Finance minister Pranab Mukherjee on Tuesday rolled back the controversial 5% service tax on high-end hospitals and certain diagnostic services. Moving the Finance Bill, 2011, in the Lok Sabha, he said the levy on healthcare had raised ...

It's a Wikied world 

Hindustan Times - ‎Mar 26, 2011‎
I'm talking of the hoax call made to the president of Pakistan, Asif Zardari, allegedly by the then finance minister,Pranab Mukherjee, at the height of the terror attack. Mr Mukherjee, it is claimed, threatened an immediate military response. ...


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Pranab Mukherjee

From Wikipedia, the free encyclopedia
Pranab Mukherjee


Incumbent
Assumed office 
January 24, 2009
Prime MinisterManmohan Singh
Preceded byManmohan Singh
In office
January 1982 – December 1984
Prime MinisterIndira Gandhi
Rajiv Gandhi
Preceded byR. Venkataraman
Succeeded byVishwanath Pratap Singh

In office
October 24, 2006 – May 23, 2009
Prime MinisterManmohan Singh
Preceded byManmohan Singh
Succeeded byS. M. Krishna
In office
February 10, 1995 – May 16, 1996
Prime MinisterP. V. Narasimha Rao
Preceded byDinesh Singh
Succeeded bySikander Bakht

In office
May 22, 2004 – October 26, 2006
Prime MinisterManmohan Singh
Preceded byGeorge Fernandes
Succeeded byA. K. Antony

In office
June 24, 1991 – May 15, 1996
Prime MinisterP. V. Narasimha Rao
Preceded byMohan Dharia
Succeeded byMadhu Dandavate


BornDecember 11, 1935(age 75)
BirbhumBritish Raj
NationalityIndian
Political partyINC
Spouse(s)Suvra Mukherjee
ResidenceKolkataIndia
Alma mater University of Calcutta
ReligionHinduism
WebsiteOfficial Website

Pranab Kumar Mukherjee (Bengaliপ্রণব কুমার মুখোপাধ্যায় born December 11, 1935, West Bengal,India) is the current Finance Minister of India[1][2] and leader of the current (15th) Lok Sabha[3].

He is currently a senior member of the Cabinet Committees on Economic Affairs, Infrastructure, Parliamentary Affairs, Political Affairs, Prices, Security, Unique Identification Authority of India, World Trade Organization, and heads the Group of Ministers Committee on the Dabhol dispute. He also heads the Group of Ministers investigating the alleged corruption of the previous NDA (National Democratic Alliance) government. He is also a member of the Congress Working Committee (CWC), the highest decision-making body of the Congress party.[4]

Contents

 [hide]

[edit]Personal life

[edit]Early life

Pranab Mukherjee was born in Mirati village near Kirnahar town, District BirbhumWest Bengalto Kamada Kinkar Mukherjee and Rajlakshmi Mukherjee. His father was active in the Congress party from 1920, was a member of AICC, and West Bengal Legislative Council (1952–64), and President, District Congress Committee, Birbhum (WB).[5] His father was also a respected freedom fighter and was jailed for more than 10 years. He attended the Suri Vidyasagar CollegeSuri (Birbhum), then affiliated with the University of Calcutta.

[edit]Education

He holds a Master of Arts degrees in History and Political Science & has a degree in law from the University of Calcutta. He has been an advocate and a college teacher in his long public career.[citation needed] He also has an honorary D. Litt.

[edit]Personal life

Pranab Mukherjee married Suvra Mukherjee on July 13, 1957 and has two sons, Abhijit (who is contesting the West Bengal Legislative Assembly elections in 2011 for the 1st time) and Surojit and a daughter Sharmistha. His hobbies are reading, gardening and music. [1]

[edit]Professional background

Pranab Mukherjee began his career as a college-teacher and later as a journalist. He worked for noted Bengali publication Desher Dak (Call of Motherland). He also became trustee ofBangiya Sahitya Parishad and later President of Nikhil Bharat Banga Sahitya Sammelan.[6]

[edit]Political career

He has a parliamentary career of nearly five decades, which began as a member of Rajya Sabha (upper house) from the Congress Party in 1969; he was re-elected in 1975, 1981, 1993 and 1999. In 1973, he joined the cabinet as Union Deputy Minister, Industrial Development. He rose through a series of cabinet posts to become the Finance Minister of India from 1982 to 1984.[7] In 1984, he was rated as the best Finance Minister of the World according to a survey of Euromoney magazine.[8][9] His term was noted for India not withdrawing the last US$ 1.1 billion instalment of an IMF loan. Dr. Manmohan Singh was serving Reserve Bank of India as Governor during Pranab's term as Finance Minister. He was victimised by a coterie of Rajiv Gandhi by not being included in his cabinet after Lok Sabha election held subsequent to Indira Gandhi's assassination. He was pushed out of the Congress party for a brief period, and during this period he formed his own political party Rashtriya Samajwadi Congress, but later merged it with Congress party in 1989 after settlement with Rajiv Gandhi.[10] His political career revived when P.V. Narasimha Rao chose to appoint him as deputy chairman of the planning commission and subsequently as a union cabinet minister. He served as External Affairs Minister for the first time from 1995 to 1996 in Rao's cabinet. In 1997 he was voted Outstanding Parliamentarian.

He was also the President of the West Bengal state unit of Congress since 1985.But resigned in July,2010 due to work-load and is now succeeded by Manas Bhunia.. In 2004, when the Congress formed a government at the head of a coalition the new Congress Prime Minister Manmohan Singh was only a Rajya Sabha MP. So Pranab Mukherjee was made Leader of the House in the Lok Sabha when he won the Lok Sabha elections for the first time from Jangipur (Lok Sabha constituency). He also has the distinction of being a Minister for various high profile Ministries including Defence, Finance, External Affairs, Revenue, Shipping, Transport, Communication, Economic Affairs, Commerce and Industry ,He also heads the Congress Parliamentary Party and the Congress Legislative Party which consists of all the Congress MPs and MLAs in the country apart from being Leader of the House in Lok Sabha, Bengal Pradesh Congress Committee President and the Union Cabinet Minister of Finance in the Council of Ministers under Prime Minister Manmohan Singh in the Congress-led Government. Pranab played crucial role in steering the Cabinet pre Lok Sabha elections when the Prime Minister underwent by-pass surgery by taking additional charges as chairman of the Cabinet Committee Of Political Affairs and Union Minister in Finance Ministry despite already being Union Minister of External Affairs.

[edit]Controversies

Pranab Mukherjee was a Minister in Mrs.Gandhi's Cabinet during the infamous Emergency and was held by many to be personally responsible for some of the excesses.[11].He was summoned before the Shah Commission but followed Mrs.Gandhi's lead in refusing to depose before it.A police case was registered against him which was withdrawn when Mrs.Gandhi returned to power.

His role in making things difficult for Taslima Nasreen,so much so that she had to leave India was also criticised.[12]

He has also been accused of threatening banks if they invest in Gujarat, a state ruled currently by the Bharatiya Janata Party[13]

[edit]International role

Pranab Mukherjee played a central role in the implementation of the Indo-US civilian nuclear agreement.

Mukherjee and US Secretary of State Condoleezza Rice signed the Section 123 Agreement on October 10, 2008. He has been a member of the Board of Governors of the International Monetary Fund, of the World Bank, of the Asian Development Bank, and of the African Development Bank.

In 1984, he chaired the Group of 24 attached to the IMF and World Bank. Between May and November 1995, he presided over the SAARC Council of Ministers Conference.[14]

[edit]Political party role

Mukherjee is very well respected within the party social circles."[15] Other media accounts describe him as having "a reputation as a number-crunching politician with a phenomenal memory and an unerring survival instinct."[16]

After Sonia Gandhi reluctantly agreed to join politics, Pranab Mukherjee was one of her key mentors, guiding her through difficult situations with examples of how her mother-in-law, Indira Gandhi would have done things.[17] Mukherjee's unfailing loyalty and competence have led to his closeness to Sonia Gandhi and Manmohan Singh, and helped him gain the position of Minister of Defence when the party came to power in 2004.

He has also held the position of Deputy Chairman, Planning Commission from 1991 to 1996.

His talents were on display during the negotiations for the Patent's Amendment Bill in early 2005. The Congress was committed to passing an IP bill, but their allies in the United Progressive Alliance from the Left front had a long tradition of opposing some of the monopoly aspects of intellectual property. Pranab Mukherjee, as Defence Minister, was not formally involved but was roped in for his negotiation skills. He drew on many old alliances including the CPI-M leader Jyoti Basu, and formed new intermediary positions, which included product patent and little else. Then he had to convince his own colleagues including commerce minister Kamal Nath, at one point saying: "An imperfect legislation is better than no legislation."[18] Finally the bill was approved on March 23, 2005.

[edit]Views on corruption

In an interview to rediff.com in 1998, he was asked about the sleaze in the Congress government, in which he was the Minister for External Affairs. He replied:

Corruption is an issue. We have dealt with it in the manifesto. But I am sorry to say that these scams are not confined to the Congress or the Congress government alone. There are so many scams. So many leaders of various political parties are involved in them. So it would be too simplistic to say that the Congress government was involved in scams.[19]

[edit]Foreign Minister: October 2006

Pranab Mukherjee with US PresidentGeorge W. Bush in 2008.

On 24 October 2006, he was appointed as the External Affairs Minister of India. His replacement in the Defence Ministry is A.K. Antony, a senior Congress Party politician and former Chief Minister of the southern state of Kerala.

Pranab Mukherjee was briefly considered for the post of the largely ceremonial Indian presidency. But his name was subsequently dropped after his contribution in the Union Cabinet was considered practically indispensable. Among Mukherjee's current legacy was the successful signing of the Indo-US civilian nuclear agreement with the US government and then with theNuclear Suppliers Group, allowing India to participate in civilian nuclear trade in spite of not having signed the Nuclear Non-Proliferation Treaty. He is also awarded the Padma Vibhushan, India's second highest civilian honor in 2007.

[edit]Finance Minister

Pranab Mukherjee, Finance Minister of India addressing the delagates at Regional Conference of Institute of Chartered Accountants of India

In the second government of Manmohan Singh, Mr. Mukherjee, became the Finance Minister of India, a job he had held earlier, in the 1980s. On July 6, 2009, he presented the government's annual budget. In it, he announced many tax reforms, such as the scrapping of the 'irritant' Fringe Benefit Tax, and the Commodities Transaction Tax. He announced, that the Finance Ministry, was well on track, to implement the Goods and Services Tax, a tax, that has been praised by major corporate executives, and economists. He also expanded funding for social sector schemes, like the National Rural Employment Guarantee Act, girl's literacy, and health care. Also, he expanded infrastructure programmes, like the National Highway Development Programme, expansion of electricity coverage, and the Jawaharlal Nehru National Urban Renewal Mission. However, many people, expressed concern, about the rising fiscal deficit, the highest since 1991. Mr. Mukherjee said, that the expansion in government spending was only temporary, and he said that the government, was committed to the principle of fiscal prudence. He presented the 2009 Union budget of India as well as 2010 Union budget of India and the 2011 budget also.

[edit]References

  1. ^ "Cabinet Ministers". Council of Ministers-Who's Who-Government: National Portal of India. Retrieved 2010-03-29.
  2. ^ "Brief profile of Pranab Mukherjee". Webpage of Ministry of Finance, Government of India. Retrieved 2010-03-29.
  3. ^ "15th Lok Sabha (18 May 2009-)". Webpage of the Lok Sabha. Retrieved 2010-03-29.
  4. ^ "Congress Working Committee". Webpage of the All India Congress Committee. Retrieved 2010-03-29.
  5. ^ Profile at Ministry of External Affairs
  6. ^ "FM Pranab's first priority: Presenting budget 09-10 (page3)". Indian Express. May 23, 2009. Retrieved 2009-05-23.
  7. ^ "The tallest short man"Sumit Mitra. The Hindustan Times, February 26, 2010. Retrieved 2010-02-27.
  8. ^ "The Pranab Mukherjee Budget".Sanjaya Baru. Business Standard, February 22, 2010. Retrieved 2010-08-05.
  9. ^ Profile from calcuttayellowpages.com
  10. ^ "FM Pranab's first priority: Presenting budget 09-10". Indian Express. May 23, 2009. Retrieved 2009-05-23.
  11. ^ How they buried Shah Commission report, even without an epitaph Indian Express - July 4, 2000
  12. ^ Taslima puts Pranab in a bind Times of India - February 18, 2008
  13. ^ Hands off Vibrant Gujarat, banks toldGovernance Now - January 15, 2011
  14. ^ Institute for Defence Studies and Analyses(IDSA) Executive Committee Profile
  15. ^ "India's new foreign minister Mukherjee: a respected party veteran"Agence France-Presse. 24 October 2006. Retrieved 2007-04-09.
  16. ^ "India gets new foreign minister"BBCNews. 4 October 2006. Retrieved 2007-04-09.
  17. ^ GK Gokhale (19 April 2004). "Why is Dr. Singh Sonia's choice?"rediff.com. Retrieved 2007-04-09.
  18. ^ Aditi Phadnis (29 March 2005). "Pranab: The master manager". rediff.com. Retrieved 2007-04-09.
  19. ^ Rajesh Ramachandran (10 January 1998). "The BJP's new-found secularism is a reckless exercise to hoodwink the people"rediff.com. Retrieved 2007-04-09.

[edit]External links

Rajya Sabha
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Member
1969–2004
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Lok Sabha
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Unknown
Member for Jangipur
2004 – present
Incumbent
Political offices
Preceded by
Ramaswamy Venkataraman
Minister of Finance
1982–1984
Succeeded by
Vishwanath Pratap Singh
Preceded by
Mohan Dharia
Deputy Chairperson of the Planning Commission of India
1991–1996
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Madhu Dandavate
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Dinesh Singh
Minister of External Affairs
1995–1996
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Sikander Bakht
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George Fernandes
Minister of Defence
2004–2006
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Arackaparambil Kurian Antony
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Manmohan Singh
Minister of External Affairs
2006–2009
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Somanahalli Mallaiah Krishna
Minister of Finance
2009 – present
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