Punjab government renting out the shops on panchayat land to generate revenue

by Administrator 14. September 2009 12:30

CM Parkash Singh Badal inaugurates the Vikas Bhawan in Sector 62, Mohali on Sunday.To generate revenue and to make village panchayats self-sustaining and financially viable,Punjab government is exploring the option of renting out shops on panchayat land where commercial activity is viable.

CM Parkash Singh Badal said this on Sunday while addressing at the inauguration ceremony of Vikas Bhawan in Sector 62, Mohali.

Pointing out that the newly-constructed complex would house all offices of the department located at various places in Chandigarh and Mohali, Badal said this would help officers increase efficiency in day-to-day functioning, and save people time, energy and money.

He also called upon farmers, especially small and marginal ones, to cut wasteful expenditure on buying costly agricultural machinery and tractors by taking loans at high rate of interest which is unproductive and unviable.

Instead of taking loans, he advised farmers to make optimum use of agro-centres scheme aimed at providing all agricultural implements and equipment, including laser levellers and zero-tilling machines, at nominal rent. He urged the cooperative societies to come forward to run these centres as government was giving 30% subsidy on the purchase of equipment and machinery besides raising 70% amount through loans on easy interest.

Speaking on the occasion, rural development and panchayats minister Ranjit Singh Brahmpura said that Vikas Bhawan and State Institute of Rural Development would prove to be a milestone for the overall progress of the rural sector in Punjab.

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Punjab Poltics | Punjab News | Punjab Crime | Chandigarh news

PSEB target to reduce T&D losses to 17 percent in Punjab

by Administrator 14. September 2009 12:25

The Punjab State Electricity Board (PSEB) has set up an ambitious target to reduce the T&D (transmission & distribution) losses to 17 per cent by 2011-12.

To achieve the designated target, the board has drawn a roadmap, which includes revamp of transmission lines, IT implementation, theft detection by enforcement agencies, installation of electronic meters etc.

It is worth noting that the board has projected T&D losses at 19.5 per cent for 2009-10 that represents a reduction of 3.03 per cent losses from 22.53 per cent in 2007-08 and 1.5 per cent from the level of 21 per cent for 2008-09.

These losses for the year 2007-08, 2008-09 and projections for 2009-10 are — 10,030 MU (million units), 9,766 MU and 11,699 MU respectively.As projected by the board, for 2009-10, the state has total energy requirement of 44, 105 MU which includes 8,287 MU as T&D losses.

Sources added that in order to bring in T&D losses in the coming years, the board has indicated some step it intends to take care in this fiscal year, which include, strengthening of distribution system, 100 per cent replacement of electro-mechanical meters by more accurate electronic meters, providing effective earthing at all the sub-station and distribution transformers, installation of meters outside the premises, augmentation of over-loaded feeders and deloading of distribution transformers etc.

Considering the board’s need to make substantial investment in transmission and distribution network for providing uninterrupted and reliable power supply to the consumers, the regulatory authority of the board, Punjab State Regulatory Commission (PSERC) has allowed an investment plan of Rs 2,000 crore for 2009-10.

Earlier, the state electricity regulatory commission had in Tariff Order 2004-05, fixed T&D loss of the board as 23.25 per cent and also fixed a trajectory of loss reduction for the next three years.

However, the board has not been able to achieve the T&D loss reduction targets as prescribed by the commission.

In fact, the commission was to redetermine the reduction trajectory of T&D losses beyond 2007-08 but had to retain a normative level of 19.5 per cent in 2008-09 as the board had failed to reach even close to that target by the end of 2007-08.

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Punjab News | Chandigarh news

GOLD FUNDS DAZZLE ON PRICE RISE

by Administrator 10. September 2009 12:58
The equity markets may be on a roll but gold has dazzled everyone bringing stellar returns to investors. Gold funds that invest in gold mining companies and overseas equity funds that have an exposure to such companies, have outperformed every other asset category in the last one year.
AIG World Gold Fund topped the performance chart with a 51.7% return in one year (up to September 7). The other two gold funds — DSP BlackRock World Gold Fund (44.4%) and Birla Sun Life Global Precious Metal (17.7% in year-to-date) — also gave good returns. Sensex and nifty moved up 10.5% and 9.8% respectively during the period.
Gold funds beat the benchmark equity indices in the three-month and one-month periods as well. They have spurted 10.5% to 11.9% in the past week alone. Incidentally, these funds have outperformed even gold exchange traded funds (ETFs) that gained about 36% in the past year.
Gold ETFs, which invest only in the physical units of gold, get only the benefit of an upturn in the prices of the yellow metal. However, gold funds cash in on the improvement in fortunes of mining firms, which give higher returns than the yellow metal during a bull run, say industry observers. Gold funds also managed to beat ETFs in the short run when gold prices jumped in March this year.
Gold prices have spurted over the past few days on the back of renewed concerns about the sharp rally in equity markets and inflation fears due to excess liquidity in the system, say market observers. Spot prices of the yellow metal crossed the $1000-an-ounce mark on Tuesday, the highest since March 2008, according to Reuters data. "Higher gold prices and improvement in profitability of mining companies have boosted sentiments," says Lakshmi Iyer, head (Fixed Income and Products) at Kotak Mahindra Mutual Fund.

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Business News

GOLD DOWN BY RS 200 ON GLOBAL CUES

by Administrator 10. September 2009 12:57
New Delhi September 10:
Snapping a six-day long rally, gold today fell by Rs 200 to Rs 16,000 per 10 gram in the bullion market here on emergence of selling at existing higher levels amid a weak trend in the global markets.
However, marketmen said that the fall is temporary and gold will bounce back soon, once the marriage and festival season starts on September 19.
All India Sarafa (bullion) Bazaar President Sheel Chand Jain said, "Gold is still moving in a firm mode and the current fall seems to be temporary as retail customers are not purchasing the metal due to Shraadhh", an inauspicious fortnight in Hindu mythology for making fresh purchases.

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Business News

SENSEX CLOSES 59.88 POINTS UP

by Administrator 10. September 2009 12:56
Mumbai September 9:
Equities rose 0.37% on fund buying in index-heavyweight stocks on a fourth straight day of gains, dealers said.
The benchmark 30-share Sensex index closed up 59.88 points to 16,183.55, the highest since June 2008.

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Business News

BHAJJI JABS AT CAMERAMAN BEFORE LEAVING FOR LANKA

by Administrator 10. September 2009 12:55
Harbhajan Singh found himself in a fresh controversy after jabbing at a photographer at the Bangalore International Airport before leaving for the tri-series in Sri Lanka.
The feisty off-spinner, who very often finds himself in the news for all the wrong reasons, jabbed at a cameraman after the camera had hit him on the head while he was taking his luggage out from a car before entering the airport.
Harbhajan gave an angry stare at the cameraman even as a security personnel tried to push back the hordes of lensmen who had virtually mobbed the cricketer. The 29-year-old Punjab spinner has a rather dubious disciplinary record, having been penalised for various offences during his career.
Harbhajan was accused of racially abusing Australian all-rounder Andrew Symonds in Sydney and the 2007 'monkey-gate' incident snowballed into a major crisis, threatening to tear apart the cricketing world.

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All India News | Cricket news

TEAM INDIA CAPTAINCY INTERESTS HARBHAJAN

by Administrator 10. September 2009 12:54
A coy Virender Sehwag does not want to lead the Indian cricket team but his feisty teammate Harbhajan Singh does, saying it’s a challenge worth a try.
Sehwag has already informed the selectors about his reluctance and requested them to groom someone for future. Harbhajan, on his part, said incumbent Mahendra Singh Dhoni is doing an excellent job at the helm but he made no bones about his own ambition, saying he would not shy away if Team India captaincy ever comes his way.
“Whoever plays for India wants to lead the side at some stage and it’s no different with me. At the end of the day, it’s a huge honour for a player,” Harbhajan said. The star off-spinner, however, gave thumbs-up to Dhoni’s captaincy and said, “At the moment, Dhoni is doing a fantastic job and there is no doubt that he is a brilliant skipper.”
Harbhajan was seen in the captain’s role in the recent BCCI Corporate Trophy where he led Air India Blue to the final and the spinner said he thoroughly enjoyed the experience. “Leading Air India Blue in Corporate Trophy was obviously a good experience. Of course you learn more and more with time but I certainly enjoyed it. It was a challenge for me which I accepted and enjoyed to the hilt,” said the 29-year-old offie.
Incidentally, Dhoni played under Harbhajan in the tournament and also rolled his arms for three unsuccessful overs in the final. Talking about captaincy, one thing that baffles Harbhajan is the myth that bowlers make inferior captains and more often than not, the job goes to a batsman. “I don’t know why batsmen are traditionally preferred for the captain’s job. I mean if you have good leadership skills, it should not matter whether you are a batsman or a bowler.
Your ability to lead should be the lone criterion,” he said. “Imran Khan was primarily a bowler when he took over captaincy and did a great job with Pakistan. And look at (New Zealand captain Daniel) Vettori today. He has been doing so well for quite a while. So how come people perceive captaincy a job beyond the bowlers?” Harbhajan asked. Harbhajan acknowledged captaincy is a full-time responsibility when he would have to plan for others as well but said he can handle the pressure that comes with the job.

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All India News | Cricket news

WE LOOK FORWARD TO THE FUTURE: KIRSTEN

by Administrator 10. September 2009 12:53
New York September 10:
On a visit in New York, Home Minister P Chidambaram had a first-hand experience of how the US' financial capital, which is on the terror radar, is protected by security agencies from terrorist attacks.
Chidambaram, who arrived in New York on the first leg of his four-day US visit on Tuesday, was briefed by officials from FBI, intelligence and security agencies and New York Police about the measures being taken by them to prevent any Mumbai-type terrorist attacks.
From walking at the Penn Station, which handles thousands of train passengers every day, to a briefing by the New York Police, which had made several changes in its counter-terrorism measures post-26/11 attacks, Chidambaram and his team of officials got to know how a mega city like New York can be protected from terrorists without causing much inconvenience to its residents.
Chidambaram was also told about the coast guard facility at State Island. It was an important aspect of his trip given that the terrorists who attacked Mumbai on November 26 last year entered Mumbai through the sea route. Coastal security is now considered an integral part of New York's counter-terrorism mechanism.
Within hours of his landing in Big Apple, Chidambaram was at the Joint Terror Task Force Centre of the FBI in New York where he was given an exclusive briefing by the New York Police Department on the steps being taken by them to protect the city. Before Chidambaram left New York by train for Washington, he was briefed about the security of the Mass Transport System at the Penn station as security officials went through the procedure of random frisking and searching of passengers.
In Washington, Chidambaram will meet with top officials of the Obama Administration, heads of intelligence and security agencies and influential lawmakers over the next three days. The visit is aimed at carrying forward the dialogue with US with regard to assessment of the security situation in South Asia, understanding the Counter-Terrorism institutions and structures in US as well as meeting with Secretary of State Hillary Clinton and senior officials.
The visit is also significant in the context of India's continued appeal to the international community to exert pressure on Pakistan to take firm action towards dismantling of the terror infrastructure in that country as well as prosecution of all accused in the Mumbai attacks who are now in Pakistan. Chidambaram will also be discussing issues related to combating financing of terrorism and steps which will need to be taken in this regard as well as with regard to prevention of money laundering.

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All India News | Cricket news

COME CLEAN ON ENCOUNTERS, SUPREME COURT TELLS GUJARAT

by Administrator 10. September 2009 12:52
New Delhi September 10:
            With the Gujarat government admitting that Sohrabuddin Sheikh was killed in a fake encounter, the Supreme Court asked the State to come clean on such incidents by ordering an investigation to go to the root of the matter.
A Bench of Justices Tarun Chatterjee and Aftab Alam is hearing a petition filed by Rubabuddin for a CBI probe into the encounter death of his brother in the early hours of November 26, 2005 and the subsequent killing of Sohrabuddin’s wife Kausar Bi. The present plea is to refer the incident to the court-appointed Special Investigation Team headed by R.K. Raghavan, who is probing the 2002 Gujarat riot cases.
When senior counsel Mukul Rohatgi, appearing for Gujarat, strongly opposed this plea, saying a charge sheet was already filed in the case, Justice Alam said: “When you [the State] admit that it is a fake encounter, the great concern of the State must also be to go to the bottom of the matter. Why not put such encounter deaths beyond debate? The State should come forward to go beyond all possible debate or controversy. This is no less disturbing. Why don’t you agree to a SIT probe?”
Mr. Rohatgi said conducting further or fresh investigation would prejudice the prosecution case and delay the trial. It would also mean lack of confidence in the trial court, the High Court and the whole judicial system in the State, which would have wide ramifications.
Justice Alam said: “The question of referring the matter to the SIT has arisen as there have been allegations that the investigations by the Gujarat police are just an eyewash and an attempt to cover up the conspiracy in the case. The whole integrity of the investigation has been questioned. Till now, you have not explained how Kausar Bi was killed. Her manner of death is unknown.”

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All India News

BJP FOR RELIEF TO DOMESTIC CONSUMERS

by Administrator 10. September 2009 12:51
Chandigarh September 10:
            The BJP will urge its coalition partner, the SAD, to give relief to the lowest category of domestic consumers who have been adversely affected by a 17.5 per cent increase in power tariff announced by the State Electricity Regulatory Commission yesterday.
            The saffron party is also on way to making a “transparent” report on “where power is being spent”. Industries Minister Manoranjan Kalia has been entrusted with this responsibility following a closed-door meeting of the party this evening. State party president Rajinder Bhandari and senior leader Madan Mohan Mittal participated in it.
According to sources, the BJP has decided to first collect data about the total power availability in the state and also identify where it was being spent. The party noted that domestic consumers did not get sufficient power supply during the entire summer as well as monsoon period even though the PSEB tried its best to purchase power from all available sources.
Bhandari said the party was “concerned” at the burden put on domestic consumers, particularly the low-income group, which included those who consumed up to 100 units of power every month. He said the core committee of the party would take up this issue in all seriousness once data regarding the reasons why the power tariff hike was necessitated were put before it.
Mittal said the party would press for relief to the lower category of domestic consumers and approach Chief Minister Parkash Singh Badal in this connection. He also claimed that the severe power shortage was largely due to the failure to increase power generation as well as limited buying opportunities due to drought-like conditions in other states also.
However, the sources said the BJP was likely to put forward the case that both urban and rural areas were equally affected by the hike in domestic tariff and that steps should be taken to subsidise part of the hike. The subsidy, they said, could offset the arrears due from domestic consumers from April 1 from which the power hike would be implemented with retrospective effect.

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All India News | Punjab Poltics