Thursday, June 11, 2009
Extreme elements may have dented BJP's image: Jaswant Singh
New Delhi, June 11 (IANS) Calling for an 'ideological distillation of thought' in the Bharatiya Janata Party (BJP), senior party leader Jaswant Singh has said 'extreme elements' associated with the party may have dented its image resulting in the poll debacle.In an interview to NDTV news channel, he said: 'There is a need for ideological distillation of thought. The BJP has to be a current party. It can't be a party of yesterday. I think there's lack of clarity on what Hindutva means.'Asked if groups like Vishwa Hindu Parishad had not become a hindrance in making it a modern party, the former central minister said: 'It is possible that extreme elements have dented this particular aspect. The BJP will have to address this aspect.'To a question if the BJP was 'living in yesterday', Singh, who was elected to the Lok Sabha from Darjeeling in West Bengal, admitted that the party had failed to convey its message to the masses.'Perhaps people didn't perceive it but we didn't succeed effectively in conveying what we're trying to do. The failure in conveying a message on what we stand for ended up with diminished electoral support.'He added: 'We had to reflect on what we are trying to address ourselves to. Come back to the issue that the party must be current, that it addresses today as well as tomorrow and doesn't continue to be living in yesterday.'Jaswant Singh, who was earlier leader of opposition in the upper house, conceded the election outcome this time was a 'bigger shock' than the loss in 2004 'when everybody said we were winning'.He said the party fared badly in some of the states where it expected to do better. The BJP won 116 seats, down from 138 in the previous elections.Asked about rumours that the BJP's prime ministerial candidate L.K. Advani would step down and if the party needed an overhaul, he said: 'Does the party need to look at itself? Yes! Does the party need to replace Advani? No!'He continued: 'The party must evolve into a succession, not arrive at succession because of an event. The event is a loss of an election...therefore you must change the leader? I don't believe so!'He did not see any merit in the argument of a section of the party leaders that throwing up Gujarat Chief Minister Narendra Modi's name as future prime minister when the elections were underway created confusion among the voters since the BJP had projected Advani for the post.A day after he reportedly demanded at the party's core group meeting that poll managers should be held accountable for the results, Jaswant Singh said: 'When it comes to evolution of the BJP, factionalism has afflicted us.'But added that there was no party not affected by it. He admitted he strongly voiced his opinion at the core group meeting, though they did not disclose the details.
India plans much solar power, slower emissions rise
India will submit plans within weeks to slow its rise in carbon emissions significantly and to generate more solar power by 2020 than the whole world generates now, a senior climate official said on Thursday.But the world's fourth biggest emitter of greenhouse gases cannot say when its emissions will peak and start to decline, said Shyam Saran, special climate envoy to Prime Minster Manmohan Singh.Saran was speaking on the sidelines of a June 1-12 climate meeting in Bonn, the latest round of U.N. talks meant to lead to agreement in December on a pact to replace the Kyoto Protocol.The talks are stuck on how far developing countries should share the cost of preparing for and curbing the worst effects of climate change and helping its victims."We are prepared to look at a significant deviation from business as usual (emissions)", provided this is supported by financing from rich countries, said Saran.The European Union wants developing countries collectively to reduce their emissions of planet-warming gases by 15-30 percent below current trends by 2020.India can neither be so specific nor say when its emissions will peak, Saran said. That depends on ambitious carbon caps and financial support from rich countries which are not yet on the table, he said.India is about to publish eight climate "missions" to boost efficiency, renewable energy and sustainable development."We hope that will be completed in the next few weeks," said Saran. One policy aim is to install about 20 gigawatts of solar power by 2020, he told Reuters.It's around 20 gigawatts, that's something we've been talking about."
CONCERNThe world now produces about 14 gigawatts (GW) of solar power, about half of it added last year. Analysts said they want details of the Indian plan before hailing what would be a big lift to a small but burgeoning market.Targets are great but meaningless without policies behind them," Jefferies Bank analyst Michael McNamara told Reuters in response to the mooted Indian target. "We need to know what the incentives are, where the funding is coming from."
Environmental groups and most developing countries have criticised the level of ambition shown by many rich countries at the Bonn talks, including a new Japanese climate goal announced on Wednesday."Some individual targets ... fall far short of what is required," said Saran. He declined to comment on Japan's plan to cut emissions by 8 percent below 1990 levels by 2020, compared with a goal to cut these by 6 percent by 2008-12 under Kyoto.Russia is the last large developed country still to announce a 2020 target. Victor Blinov, head of the Russian delegation told Reuters on Thursday: "This issue is under very serious consideration".
CONCERNThe world now produces about 14 gigawatts (GW) of solar power, about half of it added last year. Analysts said they want details of the Indian plan before hailing what would be a big lift to a small but burgeoning market.Targets are great but meaningless without policies behind them," Jefferies Bank analyst Michael McNamara told Reuters in response to the mooted Indian target. "We need to know what the incentives are, where the funding is coming from."
Environmental groups and most developing countries have criticised the level of ambition shown by many rich countries at the Bonn talks, including a new Japanese climate goal announced on Wednesday."Some individual targets ... fall far short of what is required," said Saran. He declined to comment on Japan's plan to cut emissions by 8 percent below 1990 levels by 2020, compared with a goal to cut these by 6 percent by 2008-12 under Kyoto.Russia is the last large developed country still to announce a 2020 target. Victor Blinov, head of the Russian delegation told Reuters on Thursday: "This issue is under very serious consideration".
No dilution of Women's Reservation Bill: Govt
The Government has ruled out any dilution of the proposed 33 per cent quota for women in state legislatures and Parliament to take some of the opponents of Women's Reservation Bill on board.
"There is no question of dilution," Parliamentary Affairs Minister Pawan Kumar Bansal told reporters, adding that the question "is hypothetical". He was responding to questions on the disclosure made by Samajwadi Party leader MulayamSingh Yadav in the Lok Sabha on Monday that the Congress had scuttled a compromise formula envisaging 20 per cent quota during the NDA's rule.Regarding any move for a consensus on the Bill, Bansal said the Government would endeavour for a consensus on every issue. As far as the Women's Reservation Bill was concerned, it was before the Standing Committee. He refused to commit himself to any time-frame saying, "We would await the report of the committee."Though the Government had pledged itself to an "early passage" of the Bill in the Presidential address, Prime Minister Manmohan Singh had avoided anyreference to it while responding to the debate that followed. JD (U) president Sharad Yadav, SP leader Mulayam Singh Yadav, RJD leader Lalu Prasad Yadav and former UP chief minister Kalyan Singh had registered their strong opposition to the Bill.ansal said the Budget session of Parliament would commence either towards the end of this month or the beginning of the next month. This would be without the customary Presidental address. Nor would the Budget go to committees. The presentation of budget would be followed by a general discussion. Regarding the Insurance and Banking Bills, Bansal said both had lapsed.Minister of State for Parliamentary Affairs Prithviraj Chavan said in reply to a question that an amendment to the Atomic Energy Act needed a "political decision". The issues which had to be resolved included a regulatory arrangement and private participation.
"There is no question of dilution," Parliamentary Affairs Minister Pawan Kumar Bansal told reporters, adding that the question "is hypothetical". He was responding to questions on the disclosure made by Samajwadi Party leader MulayamSingh Yadav in the Lok Sabha on Monday that the Congress had scuttled a compromise formula envisaging 20 per cent quota during the NDA's rule.Regarding any move for a consensus on the Bill, Bansal said the Government would endeavour for a consensus on every issue. As far as the Women's Reservation Bill was concerned, it was before the Standing Committee. He refused to commit himself to any time-frame saying, "We would await the report of the committee."Though the Government had pledged itself to an "early passage" of the Bill in the Presidential address, Prime Minister Manmohan Singh had avoided anyreference to it while responding to the debate that followed. JD (U) president Sharad Yadav, SP leader Mulayam Singh Yadav, RJD leader Lalu Prasad Yadav and former UP chief minister Kalyan Singh had registered their strong opposition to the Bill.ansal said the Budget session of Parliament would commence either towards the end of this month or the beginning of the next month. This would be without the customary Presidental address. Nor would the Budget go to committees. The presentation of budget would be followed by a general discussion. Regarding the Insurance and Banking Bills, Bansal said both had lapsed.Minister of State for Parliamentary Affairs Prithviraj Chavan said in reply to a question that an amendment to the Atomic Energy Act needed a "political decision". The issues which had to be resolved included a regulatory arrangement and private participation.
French submarine begins Airbus black box search

A French nuclear submarine with advanced sonar equipment began searching on Wednesday for the flight recorders of an Air France airliner that crashed into the Atlantic last week, the French military said.The Emeraude was sent to the area to hunt the "black box" recorders, which may help explain the disaster and which are believed to lie on the ocean floor.Investigators face a long search for clues to what went wrong when the Airbus A330 jet disappeared on a flight from Rio de Janeiro to Paris killing all 228 people on board, French military spokesman Christophe Prazuck said."Up to now, the time frame for the search for victims and debris has been of the order of days or a week. Here, at the very least, it's going to be of the order of weeks or months," he told LCI television.The Air France flight is believed to have run into trouble when it hit a violent storm midway over the Atlantic Ocean and potential problems with speed sensors have become one of the focal points of the inquiry.
The European Aviation Safety Agency said on Tuesday it issued a reminder to pilots on how to proceed when they suspect airspeed readings are unreliable.It said it was analyzing speed sensor data "with a view to issuing mandatory corrective action." The agency added it would not prejudge the outcome of the investigation and reiterated that Airbus planes are "airworthy and safe to operate."Late on Wednesday, Airbus denied a report in an early edition of French daily newspaper Le Figaro that it was considering grounding its fleet of A330 and A340 planes following the crash."We are not considering grounding the fleet because it is safe to operate," said Airbus spokesman Stefan Schaffrath.Other causes have not been ruled out, but France's interior ministry said two passengers identified as suspicious turned out not to be a concern. The website of the French weekly L'Express had quoted a French military spokesman as saying they could have been linked to Islamic terrorism.
WEATHER HAMPERS SEARCH
Brazilian military search teams using planes and ships had recovered 41 bodies by Tuesday, but none were found on Wednesday. Briefing reporters, Air Force Brigadier Ramon Borges Cardoso said visibility had been poor in the search areas.Television pictures showed a military plane preparing late on Wednesday to fly the first 16 bodies found to Recife on mainland Brazil from the archipelago Fernando de Noronha off the northeast coast, where the search operations are based.The 16 bodies had undergone preliminary identification procedures which would be continued in Recife.Cardoso said the search for bodies would continue until around June 19, but could go on further if weather conditions and ocean currents were favorable.Military planes expanded their search into airspace controlled by Senegal due to ocean currents that may have swept some bodies in that direction, Brazil's Air Force said, but searches there on Wednesday were interrupted by bad weather.France has sent about 400 military personnel, three planes, one frigate with a helicopter, and a research vessel with mini-submarines as well as the nuclear submarine.In the search zone, where scattered pieces of debris including a large section from the aircraft tail have been recovered, vessels are trying to comb a rugged area of the ocean floor, thousands of metres below the surface.Prazuck said searchers had taken two weeks to locate the black box recorders after the crash of a Boeing 737 at Sharm el-Sheikh in Egypt in 2004, despite much easier conditions."Here the accident happened 1,000 kilometres from the coast. The situation is very complex," he said.He said the Emeraude was searching an area of 36 square kilometres and the search zone would change daily. If the recorders are found, miniature submarines from the Pourquoi Pas, the French exploration and survey ship, could be used to retrieve them.The doomed plane sent 24 automated messages in its final minutes on June 1, detailing a rapid series of systems failures.The speed sensors that gauge how fast an aircraft is flying have become the focus of the investigation after some of the messages showed they provided inconsistent data to the pilots.Air France said on the weekend it had noticed icing problems on the speed sensors known as pitot tubes in May 2008 and had asked Airbus for a solution. Airbus responded by reaffirming existing operating procedures, according to Air France, which decided to go ahead and change the sensors from April 27. The A330 that crashed had not yet been modified.
India crucial global partner says William Burns
New Delhi, June 11 (ANI): US Under Secretary of State for Political Affairs, William Burns said that India was a major foreign policy priority for the United States. He said this while speaking to media persons after meeting India's Foreign Minister S M Krishna and the Foreign Secretary Shivshankar Menon at New Delhi on Wednesday.Burns said President Obama has sent him with a personal message highlighting India as a crucial strategic partner for the United States.
Chidambaram to review security situation in Kashmir
New Delhi, June 11 (ANI): Union Home Minister P. Chidambaram will leave for Srinagar on Thursday for a detailed review of the security situation in Jammu and Kashmir.During his two-day visit, he is scheduled to meet the Governor, the Chief Minister and other State Ministers.He will also attend a meeting of the Unified Command.The Home Minister will also discuss with the State Government issues relating to the economic development of Jammu and Kashmir.This will be the first visit of Chidambaram to Jammu and Kashmir after installation of the new Government at the Centre. (ANI)
India's 'renaissance man' Kalam honoured in UK
London, June 11 (IANS) Ten years after describing a shabby-looking fuse box as something that appeared to have been 'put in by an Indian', Prince Philip applauded as an Indian engineer, who happened to be a former president, was presented with one of Britain's top engineering awards.Former Indian president A.P.J. Abdul Kalam, who is on a lecture tour of Britain and Ireland, was presented the 2008 International Medal of the Royal Academy of Engineering at a gala dinner in London Tuesday night.The award was given by Academy president Lord John Browne, former chief executive of British Petroleum.According to the Royal Academy, the International Medal is awarded occasionally to an individual resident outside the European Union for his or her 'outstanding and sustained personal achievement in the broad field of engineering, including commercial or academic leadership'.At the dinner Tuesday night was the Academy's Senior Fellow Prince Philip, husband of Queen Elizabeth II and a man who is famous for making controversial off-the-cuff remarks.In August 1999, Prince Philip caused a stir by remarks made during a trip to a factory in Edinburgh, Scotland.According to The Guardian, the Prince was at the Racal-MESL factory to unveil an award for its rail safety system technology.As he walked around the building, he stopped in a corridor and looked up at the fuse box, which appeared somewhat less sophisticated than other devices in the factory, with electric cables stretching into the ceiling above.'Terry Nisbet, managing director of the company, noticed the Duke's interest and joked: 'That's the national grid.' The Duke replied: 'It looks as though it was put in by an Indian',' the paper said.The remarks prompted a barrage of criticism from political parties and race campaigners, leading the Prince to admit that 'what were intended as light-hearted comments were inappropriate'.The former Indian president was also given an honorary degree Wednesday by the prestigious Queens University Belfast, whose Vice Chancellor Peter Gregson described him as 'a scientist and engineer of international stature'.'Few people so clearly personify the term 'Renaissance Man',' Gregson said.A spokeswoman for the Royal Academy said the Prince gave away the 40th MacRobert Award, Britain's biggest prize for engineering innovation, to the British firm Arup.
India's 'renaissance man' Kalam honoured in UK
London, June 11 (IANS) Ten years after describing a shabby-looking fuse box as something that appeared to have been 'put in by an Indian', Prince Philip applauded as an Indian engineer, who happened to be a former president, was presented with one of Britain's top engineering awards.Former Indian president A.P.J. Abdul Kalam, who is on a lecture tour of Britain and Ireland, was presented the 2008 International Medal of the Royal Academy of Engineering at a gala dinner in London Tuesday night.The award was given by Academy president Lord John Browne, former chief executive of British Petroleum.According to the Royal Academy, the International Medal is awarded occasionally to an individual resident outside the European Union for his or her 'outstanding and sustained personal achievement in the broad field of engineering, including commercial or academic leadership'.At the dinner Tuesday night was the Academy's Senior Fellow Prince Philip, husband of Queen Elizabeth II and a man who is famous for making controversial off-the-cuff remarks.In August 1999, Prince Philip caused a stir by remarks made during a trip to a factory in Edinburgh, Scotland.According to The Guardian, the Prince was at the Racal-MESL factory to unveil an award for its rail safety system technology.As he walked around the building, he stopped in a corridor and looked up at the fuse box, which appeared somewhat less sophisticated than other devices in the factory, with electric cables stretching into the ceiling above.'Terry Nisbet, managing director of the company, noticed the Duke's interest and joked: 'That's the national grid.' The Duke replied: 'It looks as though it was put in by an Indian',' the paper said.The remarks prompted a barrage of criticism from political parties and race campaigners, leading the Prince to admit that 'what were intended as light-hearted comments were inappropriate'.The former Indian president was also given an honorary degree Wednesday by the prestigious Queens University Belfast, whose Vice Chancellor Peter Gregson described him as 'a scientist and engineer of international stature'.'Few people so clearly personify the term 'Renaissance Man',' Gregson said.A spokeswoman for the Royal Academy said the Prince gave away the 40th MacRobert Award, Britain's biggest prize for engineering innovation, to the British firm Arup.
Pak has reduced troops on Indian border: Holbrooke
Washington, Jun 10 (PTI) Pakistan has reduced the number of troops on its border with India to levels below what was deployed in the aftermath of the Mumbai terror attacks, US Special envoy for Pakistan and Afghanistan, Richard Holbrooke, has said. "I will say that the number of troops that have been moved West is clearly larger than the number that were moved East after the Mumbai bombing.And I don't believe there would be any question on that," Holbrooke told State Department reporters at a press briefing today. In the wake of tensions between India and Pakistan that followed the terror strike on Mumbai, the border between the countries saw significant troop build up.However, Holbrooke refused to give any further details about the recent movement of troops by Pakistan in the wake of its military action against the Taliban in the Swat valley and adjoining areas. "It is for the Pakistan government to announce their own force deployments, not for me to make a headline here," Holbrooke said in response to a question.
Thursday, May 21, 2009
Election fans charter boom as leaders seek copters and jets
'At 46 degrees (Celsius), my gaadis are getting stalled,' the charter operator in Bhopal says, asking not to be named. He is talking of helicopters as though they were local taxis.
He has six of them, all at the disposal of the Congress Party. The heat is challenging the engines, but the dusty general election campaign this year is fanning hot demand, giving an oasis of boom and attractive profits amid an economic downturn for chartered flight operators.
According to industry estimates, different political parties across the country have chartered as many as 60 private helicopters to ferry their netas across the length and breadth of the country. Helicopter charters do not come cheap.
A 10-seater could cost Rs 2 lakh an hour, a four-seater Rs 75,000 per hour. They can be rented for a minimum of five hours.
Congress leads the pack as far as charters go. It has chartered at least 6 to 7 helicopters from the state-run Pawan Hans Helicopters and another 7 from Bhopal based Oasis Aviation.
Industry sources say the Bhartiya Janata Party has also chartered a similar number of helicopters. It has also chartered a top line business jet to ferry its prime ministerial candidate- Lal Krishna Advani.
'Congress has chartered two twin-engine 10 seater Dauphin helicopters for Congress president Sonia Gandhi. The four seater helicopter has been chartered for Rahul Gandhi and other Congress leaders,' said an industry official, who did not wish to be identified.
Regional party leaders are also keen copter users. Lalu Yadav has a six-seater Eurocopter, Sharad Yadav a five-seater Bell and Sharad Pawar is flying in a 7-seater helicopter -- all hired from Bangalore based Deccan Aviation.
'Other than ferrying political leaders helicopters are a great crowd puller,' said Colonel Jayant Poovaiah, executive director at Deccan. 'General elections is the best time for any helicopter operator,' said Niraj Bhatia, managing director of Summit Aviation, whose firm's clients include BJP and Bahujan Samaj Party.
He has six of them, all at the disposal of the Congress Party. The heat is challenging the engines, but the dusty general election campaign this year is fanning hot demand, giving an oasis of boom and attractive profits amid an economic downturn for chartered flight operators.
According to industry estimates, different political parties across the country have chartered as many as 60 private helicopters to ferry their netas across the length and breadth of the country. Helicopter charters do not come cheap.
A 10-seater could cost Rs 2 lakh an hour, a four-seater Rs 75,000 per hour. They can be rented for a minimum of five hours.
Congress leads the pack as far as charters go. It has chartered at least 6 to 7 helicopters from the state-run Pawan Hans Helicopters and another 7 from Bhopal based Oasis Aviation.
Industry sources say the Bhartiya Janata Party has also chartered a similar number of helicopters. It has also chartered a top line business jet to ferry its prime ministerial candidate- Lal Krishna Advani.
'Congress has chartered two twin-engine 10 seater Dauphin helicopters for Congress president Sonia Gandhi. The four seater helicopter has been chartered for Rahul Gandhi and other Congress leaders,' said an industry official, who did not wish to be identified.
Regional party leaders are also keen copter users. Lalu Yadav has a six-seater Eurocopter, Sharad Yadav a five-seater Bell and Sharad Pawar is flying in a 7-seater helicopter -- all hired from Bangalore based Deccan Aviation.
'Other than ferrying political leaders helicopters are a great crowd puller,' said Colonel Jayant Poovaiah, executive director at Deccan. 'General elections is the best time for any helicopter operator,' said Niraj Bhatia, managing director of Summit Aviation, whose firm's clients include BJP and Bahujan Samaj Party.
Minting political capital
At first it seems like an idea from the 1970s. From the era of nationalisation. An idea whose time is past, that has become an alibi. Indeed, when L.K. Advani, PM-designate for the NDA, first spoke about it last Sunday, it seemed like a hard weave and dodge to duck the imbroglio involving Varun Gandhi.
By April 1 it was an SMS in demand. It seemed the time was just right for the idea of getting stashed loot back to the country. Suddenly the BJP itself woke up to an idea with all the makings of sound political capital.
The idea itself was born of a political imperative and economic circumstance. The political imperative stems from the need for a differentiator in an era when mandates are jigsaw puzzles and the economic circumstance calls for an idea that works both as rhetoric and a promise of a better life.
After all, the estimated $500 bn stashed abroad is enough stimulus to resurrect growth and alter the face of India's infrastructure. Sure, the first debate on Swiss numbered accounts featured in Parliament in December 1968 and after two decades of probe and litigation on the Bofors case nobody saw any of the bribe money. The circumstance, though, has changed.
Rs 25 lakh crore belonging to Indians is estimated to be stashed away in Swiss Banks.We will do our utmost to bring this wealth back to India.
SMS from L.K.Advani to voters
Hope is embedded in the first-of-itskind action seen in the US. Last September the UBS of Switzerland revealed to the US that it held 47,000 secret accounts for Americans but refused to disclose their identity. Last month, however, after being caught soliciting business, UBS agreed to reveal 250-300 clients and paid $780 million in fines.
The plea bargain was driven by desperation to avoid closure and international sanction. Pressure is mounting globally. British Prime Minister Gordon Brown and German Chancellor Angela Merkel have both stated that there was no place for tax havens . The days of bullet-proof confidentiality are clearly over and Advani's promise is based on this premise.
So, what is the quantum of Indian money in the Swiss banks? What is the source of the declaration of between $500 bn and $1,400 bn stashed in Swiss accounts ? First a perspective: $500 bn is India's GDP for six months and $1,400 bn would be India's GDP for a year and three months or five quarters.
Quote unquote
We raised the issue of money in Swiss banks in February and asked the Government to get it back.Advani has only followed it up. Prakash Karat, CPI(M) General Secretary What did they do for six years? Why was he silent as the leader of the Opposition for five years? It is a poll promise as they are short of issues. Kapil Sibal, Union Minister for Science and Technology A country-by-country breakdown of accounts in Die Banken in der Schweiz published by the Swiss National Bank (the Swiss central bank) in 2007 reveals assets belonging to Indian entities were worth only $2.5 bn or CHF2,923 million (Swiss Francs).
Swiss bankers also managed CHF1,383 mn ($1.2 bn) belonging to Indians in a fiduciary capacity. In fact, the total assets of all foreigners in Swiss banks is CHF2,070,437 million (or $1.8 trillion).
Contrast this with the range of $500 bn to $1.4 trillion of just Indian money stashed in Swiss banks as claimed by Team Advani.
Perhaps, money is hidden in custody accounts. By end-2008 the value of securities in these secret accounts of foreigners was CHF2,190 billion ($1.9 trillion). It is a moot point how much of this could be Indian money.
Quantum of money apart there is also the leverage factor. Does India have the kind of leverage US has? And mind you, the US government failed to get the UBS to spill out all the names.
As Kapil Sibal, a top lawyer and Union minister for science and technology, says, getting to the pot of money is a complex exercise as one has to first prove violations . Sibal also questions the timing of this idea. Why didn't they do anything when they were in power for six years? Why didn't Advani raise this issue in the past five years as the leader of the Opposition? If the issue is raised now after 11 years of silence, it is because they are short of poll issues.
There is, of course, no debate that Indians have stashed huge sums in overseas entities. The sources are unlimited from business to corruption to crime. Indians, without doubt, own a substantive stake in the $11-plus trillion stashed across the globe.
One route is overinvoicing of imports. India imported capital goods worth $45 billion last year, and officials believe, at least 10 per cent is siphoned and stashed abroad making India one of the top 10 countries with illicit outflows. This, though, is not the only route. The Satyam saga is validation of software exports being another route.
Over the years the adulterous politician-babu-corporate nexus has worked together to orchestrate the framing and changing of rules to suit end use.
The formula: to send money abroad inflate costs of goods or services sought abroad and to bring money back inflate income. Indeed, it is passe to stash in Swiss banks. Corporates now have legal ways and means to keep money outside India. FIIs, sub accounts and P-Notes are all part of the routing process and Cyprus, Singapore, Dubai, Mauritius are all new destinations.
None of these facts should detain Team Advani or the government of India from pursuing the idea. Hot pursuit of hot money is an idea whose time has come. India must take advantage (as it has indeed in the case of Liechtenstein's LGT Bank) of the emerging consensus across the globe against tax havens. But for rhetoric to translate into outcome it would also have to address issues at home. They would range from ending the abuse of double tax treaties to wiping out the P-Note and sub accounts culture. Very simply, the next political idea must be to dismantle the benami empires whether of dons, politicians
Loot vault
> The amount of funds held offshore globally by individuals is about $11.5 trillion with a resulting annual loss of tax revenue of about $250 bn.
Tax Justice Network
> Global proceeds from criminal activities, tax evasion and corruption is estimated at between $1 tn and $1.6 tn per year.
UN & amp; World Bank Report, 2007
> During 2002-'06, $10 bn to $100 bn have been stolen out of India every year.
Global Financial Integrity Report, 2006
> At least $6.2 trillion of wealth is held offshore, depriving developing countries of annual tax receipts of $64-124 bn.
Oxfam Study
> India is estimated to have lost $5.2 bn just in taxes due to bilateral trade mispricing with the EU and US in 2005-'07.
Christian Aid
By April 1 it was an SMS in demand. It seemed the time was just right for the idea of getting stashed loot back to the country. Suddenly the BJP itself woke up to an idea with all the makings of sound political capital.
The idea itself was born of a political imperative and economic circumstance. The political imperative stems from the need for a differentiator in an era when mandates are jigsaw puzzles and the economic circumstance calls for an idea that works both as rhetoric and a promise of a better life.
After all, the estimated $500 bn stashed abroad is enough stimulus to resurrect growth and alter the face of India's infrastructure. Sure, the first debate on Swiss numbered accounts featured in Parliament in December 1968 and after two decades of probe and litigation on the Bofors case nobody saw any of the bribe money. The circumstance, though, has changed.
Rs 25 lakh crore belonging to Indians is estimated to be stashed away in Swiss Banks.We will do our utmost to bring this wealth back to India.
SMS from L.K.Advani to voters
Hope is embedded in the first-of-itskind action seen in the US. Last September the UBS of Switzerland revealed to the US that it held 47,000 secret accounts for Americans but refused to disclose their identity. Last month, however, after being caught soliciting business, UBS agreed to reveal 250-300 clients and paid $780 million in fines.
The plea bargain was driven by desperation to avoid closure and international sanction. Pressure is mounting globally. British Prime Minister Gordon Brown and German Chancellor Angela Merkel have both stated that there was no place for tax havens . The days of bullet-proof confidentiality are clearly over and Advani's promise is based on this premise.
So, what is the quantum of Indian money in the Swiss banks? What is the source of the declaration of between $500 bn and $1,400 bn stashed in Swiss accounts ? First a perspective: $500 bn is India's GDP for six months and $1,400 bn would be India's GDP for a year and three months or five quarters.
Quote unquote
We raised the issue of money in Swiss banks in February and asked the Government to get it back.Advani has only followed it up. Prakash Karat, CPI(M) General Secretary What did they do for six years? Why was he silent as the leader of the Opposition for five years? It is a poll promise as they are short of issues. Kapil Sibal, Union Minister for Science and Technology A country-by-country breakdown of accounts in Die Banken in der Schweiz published by the Swiss National Bank (the Swiss central bank) in 2007 reveals assets belonging to Indian entities were worth only $2.5 bn or CHF2,923 million (Swiss Francs).
Swiss bankers also managed CHF1,383 mn ($1.2 bn) belonging to Indians in a fiduciary capacity. In fact, the total assets of all foreigners in Swiss banks is CHF2,070,437 million (or $1.8 trillion).
Contrast this with the range of $500 bn to $1.4 trillion of just Indian money stashed in Swiss banks as claimed by Team Advani.
Perhaps, money is hidden in custody accounts. By end-2008 the value of securities in these secret accounts of foreigners was CHF2,190 billion ($1.9 trillion). It is a moot point how much of this could be Indian money.
Quantum of money apart there is also the leverage factor. Does India have the kind of leverage US has? And mind you, the US government failed to get the UBS to spill out all the names.
As Kapil Sibal, a top lawyer and Union minister for science and technology, says, getting to the pot of money is a complex exercise as one has to first prove violations . Sibal also questions the timing of this idea. Why didn't they do anything when they were in power for six years? Why didn't Advani raise this issue in the past five years as the leader of the Opposition? If the issue is raised now after 11 years of silence, it is because they are short of poll issues.
There is, of course, no debate that Indians have stashed huge sums in overseas entities. The sources are unlimited from business to corruption to crime. Indians, without doubt, own a substantive stake in the $11-plus trillion stashed across the globe.
One route is overinvoicing of imports. India imported capital goods worth $45 billion last year, and officials believe, at least 10 per cent is siphoned and stashed abroad making India one of the top 10 countries with illicit outflows. This, though, is not the only route. The Satyam saga is validation of software exports being another route.
Over the years the adulterous politician-babu-corporate nexus has worked together to orchestrate the framing and changing of rules to suit end use.
The formula: to send money abroad inflate costs of goods or services sought abroad and to bring money back inflate income. Indeed, it is passe to stash in Swiss banks. Corporates now have legal ways and means to keep money outside India. FIIs, sub accounts and P-Notes are all part of the routing process and Cyprus, Singapore, Dubai, Mauritius are all new destinations.
None of these facts should detain Team Advani or the government of India from pursuing the idea. Hot pursuit of hot money is an idea whose time has come. India must take advantage (as it has indeed in the case of Liechtenstein's LGT Bank) of the emerging consensus across the globe against tax havens. But for rhetoric to translate into outcome it would also have to address issues at home. They would range from ending the abuse of double tax treaties to wiping out the P-Note and sub accounts culture. Very simply, the next political idea must be to dismantle the benami empires whether of dons, politicians
Loot vault
> The amount of funds held offshore globally by individuals is about $11.5 trillion with a resulting annual loss of tax revenue of about $250 bn.
Tax Justice Network
> Global proceeds from criminal activities, tax evasion and corruption is estimated at between $1 tn and $1.6 tn per year.
UN & amp; World Bank Report, 2007
> During 2002-'06, $10 bn to $100 bn have been stolen out of India every year.
Global Financial Integrity Report, 2006
> At least $6.2 trillion of wealth is held offshore, depriving developing countries of annual tax receipts of $64-124 bn.
Oxfam Study
> India is estimated to have lost $5.2 bn just in taxes due to bilateral trade mispricing with the EU and US in 2005-'07.
Christian Aid
Political parties likely to spend Rs 800 cr on ads
Manash Pratim Bhuyan New Delhi, Apr 24 (PTI) The media industry, among the first to see revenue dry up due to the economic slowdown, is expected to be one of the major beneficiaries of this election for which ad spend is pegged at around Rs 800 crore. Experts say the total advertisement spending by the political parties would be around Rs 800 crore.
The Congress and the BJP alone could spend over Rs 400 crore on ads on television, radio and newspapers. The major political parties are spending a significant portion of their poll budget on advertisements.
'The media sector is going through a bad phase as even leading MNCs are cutting back on advertising. So the advertisement spending by political parties will definitely help the media sector,' said Bhaskar Rao Chairman of Centre for Media Studies.
However, CEO of NDTV Media Raj Naik said a major chunk of the advertisement spending by the political parties is going to general entertainment and regional TV channels. 'The news channels are not getting that much,' he said.
Rao said most of the leading media houses have reported higher revenue generation in the fourth quarter of the previous financial year due to elections. Rohit Gupta of Adwaves Advertising, a media buying agency, said media sector will be benefitted by the election as it would 'infuse huge sums of money' into the industry.
The Congress and the BJP alone could spend over Rs 400 crore on ads on television, radio and newspapers. The major political parties are spending a significant portion of their poll budget on advertisements.
'The media sector is going through a bad phase as even leading MNCs are cutting back on advertising. So the advertisement spending by political parties will definitely help the media sector,' said Bhaskar Rao Chairman of Centre for Media Studies.
However, CEO of NDTV Media Raj Naik said a major chunk of the advertisement spending by the political parties is going to general entertainment and regional TV channels. 'The news channels are not getting that much,' he said.
Rao said most of the leading media houses have reported higher revenue generation in the fourth quarter of the previous financial year due to elections. Rohit Gupta of Adwaves Advertising, a media buying agency, said media sector will be benefitted by the election as it would 'infuse huge sums of money' into the industry.
Friday, May 15, 2009
Cong will talk to us if we have the number: Amar

As the political work on all the permutations and combinations for the formation of the government at the Centre, Samajwadi Party general secretary Amar Singh has said that all options are open and everything will depend in number.Speaking about the reports of talks between him and Congress leader Digvijay Singh, Amar Singh said that the Congress would talk to the Samajwadi Party if they get the numbers.However, he also announced a rider for any long-term relationship."A long-term relationship will depend on what we bargain," said Amar.
The Samajwadi Party leader also said that he is in touch with NCP leaders Sharad Pawar and Praful Patel.Referring to the possibility of any tie up with the Bharatiya Janata Party (BJP), Amar said, "Our ideological differences are too big, where is the common ground?"Meanwhile, sources in the Congress have told NDTV that there has not been any discussion on the Samajwadi Party being part of a possible UPA government during the meeting of Senior Congress leader Pranab Mukherjee and SP leader Amar.On Thursday, AICC general secretary Digvijay Singh, who was not exactly on good terms with his Samajwadi Party counterpart Amar Singh, rang him up to enquire about his health.Digvijay Singh, who was blamed by Amar Singh for the collapse of seat-adjustment talks in UP, also used the opportunity to say sorry to him if any of his statements had caused him hurt. Amar Singh also reciprocated his sentiments.
In the midst of phone-diplomacy, Congress denied that Gandhi had spoken to BSP supremo Mayawati, whose party is part of the Third Front.
Third Front a fractured front: Praja Rajyam

Amidst reports that it is being wooed by the Congress, Telugu superstar Chiranjeevi's Praja Rajyam party on Friday said it is keeping its doors open for post-poll alliances.Praja Rajyam, which is expected to win a sizeable number of seats in both the Lok Sabha and Andhra Pradesh assembly, also said the Third Front was at present a "fractured front"."Any political party has to act in such a way that it should never close any doors post-elections. PRP is also doing the same thing," PRP general secretary Allu Aravind told reporters here when asked whether it will align with Congress.Arvind also took a dig at the Third Front and said it was a "fractured front at present as one of its members has packed and taken his baggage out of it" in a apparent reference to the TRS, which switched sides to NDA recently.There is intense speculation that Congress is trying to reach out to Chiranjeevi to get his support both at the state and the Centre.
Lizard brings cheer in Naveen Patnaik's camp

Though considered as a bad omen in parts of the world, a house lizard has brought cheers in the ruling BJD camp in Orissa.BJD workers and leaders on Friday celebrated expecting victory for the party after a house lizard fell on BJD supremo Naveen Patnaik's head at his residence.The incident occurred on Wednesday when the chief minister was seeing off party leader Prasanna Acharya at Naveen Niwas.Brought up amidst Western culture, Patnaik took the incident as an evil sign and felt nervous, an insider at the Naveen Niwas said adding an almanac was consulted on the beliefs associated with lizard falling.Finally, 'Kohinoor Panjika', widely accepted almanac was brought from the market to analyse the possible impact of lizard falling on Patnaik's head especially in the context of counting for the Lok Sabha and assembly elections in the state being held on Saturday.It was found that lizard falling on homo sapiens was not that bad in Orissa as considered by Westerners."Falling of lizard on head gives 'Raja Yoga' (gain of power)," according to the almanac."As the lizard fell on Patnaik's head, he is certain to retain power," said a senior minister adding the matter was discussed at the CM's conference room on Thursday immediately after the council of ministers meeting.
PM likely to resign on Monday

Prime Minister Manmohan Singh is likely to resign on Monday after declaration of the Lok Sabha results on Saturday but will be asked to continue as caretaker PM by President Pratibha Patil till a new government assumes office.The Prime Minister has convened a meeting of the Union Cabinet on Monday at 10 am to consider the one-point agenda of tendering resignation of his council of ministers to the President, PMO sources said on Thursday.He is expected to call on the President the same day to submit the resignation of his council of ministers.It is the normal practice that the outgoing government steps down after the announcement of the poll verdict even if the same alliance gets majority, the sources said.The Prime Minister is also likely to address the nation when he is expected to highlight government's achievements in the last five years and list the tasks ahead for the new government.
EC promises speedy, real-time poll results on its website

As the whole nation eagerly awaits the poll results, the Election Commission on Friday promised to provide speedy and real-time results on its website on Saturday."Trends will be available as soon as the first round of counting ends. The website would be updated on the real-time basis, which means as soon as any result or trend is available it would be on the website in no time," Alok Shukla, Deputy Election Commissioner told reporters.To ensure a fast and accurate results, the commission has upgraded and redesigned its website -- www.eciresults.nic.in -- which would have graphics and pie charts giving details about all candidates in a particular parliamentary constituency.The results would be posted to the website only after Assistant Returning Officers (ARO) put their signature on a result, Shukla said.The results from various counting centres would be sent to the ECI through Internet, which would be put in its server and after which it would be hosted on the website by the National Informatics Centre (NIC).
Polls are sour grapes for 7,527 candidates

543 candidates' happiness will be 7,527 candidates' misery!That's the number of people who would turn up losers in the elections to Lok Sabha. A total of 8,070 candidates were in the fray for the 543 Lok Sabha seats.The 'losers' would also have to live with the loss of crores of rupees spent in electioneering, while many would also be forfeiting security deposit ranging from Rs 5,000 (for SC/ST candidate) and Rs 10,000 for others.Delhi-based Centre for Media Studies
had estimated that Rs 10,000 crore (nearly $2 billion) would be spent by parties and candidates in this election, although official expenditure on polls was pegged at Rs 1,300 crore.
Indian Americans hope for a stable govt
Anxiously waiting for the results of the Lok Sabha elections, Indian Americans, despite sharp differences over which party would be best suitable to lead the country, are hoping against hope that the results throw up a stable government.While it would be mid-night in the United States, when election results would start coming in, a large number of Indian Americans across the US are expected to be awake watching the election results."It does not matter, who wins or loses the election. It is a time to celebrate the India democracy," said Rohit Kumar, who lives in Bethesda, Maryland near Washington. A software professional, he would be watching election results at his home along with his friends.However there are many who want their party or leaders of choice to come to power. If BJP is the preferred choice for right-wing and pro-Hindutva supporters and for the members of the Overseas Friends of the BJP, it is Congress and Manmohan Singh for the Indian National Overseas Congress.Both the groups have made arrangements with champagne for impromptu celebrations Saturday wee hours when they expect the broad trends would be available.Several of the Indian American community centers - for instance in places like Houston, Tampa, Silicon Valley, New York and Jersey City - have made special arrangements wherein people can collectively watch the election results live on a giant television screen.
BJP goes into overdrive to finalise strategy

On the eve of counting of votes, BJP on Friday went into overdrive to finalise its strategy for forming the next government with Prime Minister hopeful L K Advani holding a series of meetings with allies and party leaders even as NDA continued its search for new partners.The BJP Parliamentary Board, the top decision making body of the party, will meet on Saturday at 5:00 pm to take stock of post-election scenario.
INLD chief Om Prakash Chautala, a key NDA ally, met Advani to discuss the post-poll strategy. Senior BJP leader Sushma Swaraj also joined in the deliberations which went on for quite some time.Chautla's INLD is a key ally of the BJP-led NDA in Haryana where it is looking forward to regain lost ground.RLD chief Ajit Singh, an important partner in Uttar Pradesh, was the next to hold consultations with Advani.
"We discussed possible results and what is happening and what should be done," Ajit Singh told reporters after the meeting.Senior party leaders have been assigned tasks to keep in touch with allies and Gujarat Chief Minister Narendra Modi has been given the responsibility to get support from AIADMK chief
J Jayalalithaa.Venkaiah Naidu is keeping the communication lines open with TRS and try to get around TDP. Naidu is also coordinating with the Asom Gana Parishad.
Advani is understood to be in touch with Bihar Chief Minister Nitish Kumar and NDA convener Sharad Yadav.
Cong hopes to win the support of AIADMK

With just a few hours left before counting of votes cast in the Lok Sabha election begins, Congress appears to be hoping to win the support of AIADMK in Tamil Nadu for formation of the next government.The party considers Tamil Nadu, Kerala and Andhra Pradesh as "crucial states" from the point of view of government formation."JD-U's Nitish Kumar in Bihar is a natural ally of BJP. In Andhra Pradesh, TDP's Chandrababu Naidu is a natural enemy of Congress.If anybody will come to us it will be Jayalalithaa. She is neither natural ally of BJP nor a natural enemy of Congress," a senior leader said on condition of anonymity.At the same time, he said that if the DMK secures a large number of seats, the possibility of aligning with even Jayalalithaa is ruled out.The senior leader also ruled out the possibility of any alliance with BSP saying, "the number of seats acquired by RJD, SP and LJP will surpass what is acquired by BSP and Fourth Front's Mulayam Singh Yadav cannot go along with Mayawati."At the AICC briefing, party spokesman Kapil Sibal, however, parried a question about the possible alliance with AIADMK."Jay ho or Jaya HO that we will see after May 16," he remarked when asked about the possibility.
Pawar spoke to Patnaik to secure BJD support for UPA

NCP chief Sharad Pawar on Friday said he spoke to BJD chief and Orissa Chief Minister Naveen Patnaik to secure his support for UPA's bid to form a government at the Centre."I have contacted Naveen Patnaik because NCP and BJD are contesting elections together in Orissa. I have eight candidates for assemble elections and one for Lok sabha," he said.Pawar, however, denied having contacted either BSP chief Mayawati or AIADMK supremo Jayalalithaa."I have not contacted them", he said.Pawar distanced himself from party colleague P A Sangma's appeal to Congress to support a Pawar-led Third Front government." His appeal is not acceptable to NCP, that I can tell you. In Meghalaya, there was a proposal to form a Congress-NCP government but Congress let us down. It might be a reaction to that," Pawar said.
Third Front not averse to consider Nitish for PM post: Bardhan

A day ahead of announcement of Lok Sabha election results, CPI General Secretary A B Bardhan on Friday said the Third Front was not averse to considering Bihar Chief Minister Nitish Kumar's name as one of its possible candidates for Prime Ministership if he extends support to them."If he (Nitish) extends support to us, we, among others, will consider his name for the post," Bardhan told reporters here after he was asked a volley of questions whether the senior Janata Dal (United) leader and Bihar CM has the stature to be one of Third Front probables for prime ministership.However, Bardhan said the Third Front has many able and experienced leaders for prime ministership, adding they won't have problem to pick one of them for the country's top post, if they form the government.The CPI leader also backed Nitish's demand of special state status for Bihar saying every year the state is hit by floods and employment problem too was plaguing it.He said Nitish wants that his state should be given the special status, adding if their alliance forms the government at the Centre they will give this status to Bihar.The demand for special state status to Bihar was just, he said.
Cong cautious to Nitish's demand for special status for Bihar

Congresson Friday reacted cautiously to Bihar Chief Minister Nitish Kumar's statement that he would support any party trying to form government at the Centre which gives special status to his state and said the party could talk to him only after he snaps ties with BJP."It is for Nitish Kumar to say whether he is ready (to come with us) or not ready. When he ends ties with BJP, then only there could be a dialogue," party spokesman Kapil Sibal told reporters here when asked whether Congress is still open to a tie-up with JD(U).Kumar, JD(U) leader, earlier in the day said he would support a party which gives Bihar a special category state status.
Besides, Sibal asked Kumar to make it clear what he actually means by special statu"We do not know what is the meaning of special status in Nitish Kumar's mind. We have already given lot of attention to Bihar and had given it a backdward status and more funds than that by NDA government," Sibal said.Replying to questions, he dismissed suggestions that Congress would dump its existing allies in favour of new friends.
In search of the magic figure, parties go for matchmaking

The stage is set for the counting of votes for the Lok Sabha elections today, as leading political parties continue to hunt for new allies to make up the numbers in a fractured Parliament.The much-awaited election results are expected to be out by 11:30 am as counting will begin at 8am with opening of the postal ballot in the deputy commissioner-cum-returning officer RK Rao's office.The question now is who our MPs will be, and who will form the next government?The Congress has a juggle on its hands with mutually exclusive potential allies like the SP or BSP, DMK or the AIADMK.Speaking on NDTV's India Decides, Anand Sharma ruled out supporting the Third Front."No question of supporting Third Front. UPA will emerge as the largest alliance," said the MoS for External Affairs.On the other hand, Samajwadi Party general secretary Amar Singh has said that all options are open and everything will depend in number.Speaking about the reports of talks between him and Congress leader Digvijay Singh, Amar Singh said that the Congress would talk to the Samajwadi Party if they got the numbers.The race for numbers has all kinds of options with everyone literally keeping all doors open. So, when Bihar Chief Minister Nitish Kumar said that whoever gives Bihar a special economic package would get his support, the Congress -- and even his own ally the BJP -- scrambled to promise him just that.
But with no party assessments giving any of the formations a comfortable majority, hard bargaining is going on behind the scenes.Amar Singh said as much: The SP's support to the Congress would depend on what sort of bargain they reach.Even outside the Capital the race is on with reports that Chandrababu Naidu is speaking to both Naveen Patnaik and Sharad Yadav.NCP chief Sharad Pawar on Friday said he spoke to BJD chief and Orissa Chief Minister Naveen Patnaik to secure his support for UPA's bid to form a government at the Centre.However, Biju Janata Dal on Friday stuck to its familiar stand of favouring a non-Congress and non-BJP government at the Centre."We have already made it clear that we would not join any BJP or Congress-led government. We are awaiting the poll results," said BJD spokesperson Damodar Rout.
Down south, Telugu superstar Chiranjeevi's Praja Rajyam party on Friday said it is keeping its doors open for post-poll alliances. Praja Rajyam, which is expected to win a sizeable number of seats in both the Lok Sabha and Andhra Pradesh assembly, also said the Third Front was at present a "fractured front".Whether it's the Congress, the BJP, the Left, the Samajwadi Party and the Biju Janata Dal or the RJD, virtually every political party is engaged in backroom talks with every other political party because no one wants to leave any option unexplored in their battle to be at the seat of power in Delhi.Meanwhile, JD(U) president Sharad Yadav was also busy contacting political 'friends' for the formation of next government."We are talking to some people but I can't reveal their names to the media. Apart from Jayalalithaa I have worked with all the leaders in the past 15-20 years. With most of them I have personal relations," said Sharad Yadav, JD(U) chief.
Left sources have indicated that Prakash Karat has not softened his stand on support to the Congress.Sources say if it comes to it the Left will ask the UPA to support a Third Front government. Significantly, CPM leader Brinda Karat said earlier that the Left is still working for a non-Congress and non-BJP government.While CPI general secretary A B Bardhan said the Third Front was not averse to considering Bihar Chief Minister Nitish Kumar's name as one of its possible candidates for Prime Ministership if he extends support to them."If he (Nitish) extends support to us, we, among others, will consider his name for the post," Bardhan told reporters here after he was asked a volley of questions on whether the senior Janata Dal (United) leader and Bihar CM has the stature to be one of Third Front probables for prime ministership. (With PTI inputs)
India awaits poll results as counting begins

Counting of votes polled in the 15th Lok Sabha elections began on Saturday at over 4,000 counting halls across the country during which the fate of 8,070 candidates will be known.Counting began at 0800 hrs in all 28 states and seven union territories. Votes polled in elections to state Assemblies of Andhra Pradesh, Orissa and Sikkim are also being counted simultaneously.A party or combine needs 272 seats in the 545-member Lok Sabha to form a government.Counting began at 4,260 halls in 1,080 centres across the country and would be managed by nearly 60,000 personnel. A little over half of the 71.377 crore registered voters cast their ballots through Electronic Voting Machines in the five-phased elections that began on April 16 and ended on May 13.In all, 8,070 candidates, including from 46 national and state parties, contested in the elections to 543 LS seats.Two members are nominated from Anglo-Indian community.The Election Commission has launched a special website www.eciresults.nic.in to make the results available instantly.In addition to the trends and results being made available on the website, large display boards have been put up in front of the Commission's headquarters - 'Nirvachan Sadan' - in Delhi for the benefit of the public.
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