Thursday, May 31, 2012

Bharat Bandh: Nationwide protests on petrol price hike evoke mixed response

New Delhi: There was a mixed response so far to the Bharat bandh called by the BJP and the Left now to resist walking past week the price of gasoline. Walk is the steepest ever to Rs. 28.06 plus local taxes, and the need for a rollback is universal. Many people in the metro and other cities have chosen to stay home.
There have been reports of some of the best in Mumbai who stoned buses, bus set on fire and stoned in Karnataka and trains are stopped UP Allahabad, and areas in Odisha and Jharkhand. In East Delhi, the BJP workers blocked the arterial road that connects Ghaziabad to Delhi, causing much inconvenience to office-goers at a time when soaring temperatures are uncomfortably high. (Read)
In the national capital, BJP leader Ananth Kumar and including Vijay Goel was arrested. Left leaders like CPI (M) Prakash Karat and Sitaram of Yechury and CPI D Raja are also taken into custody. In Bihar, Sharad Yadav, the president of the ruling Janata Dal (United) and the Convenor of BJP-led National Democratic Alliance, was detained in Saharsa for trying to enforce the bandh. BJP leader Shahnawaz Hussain to be also taken into custody. (Read: Sharad Yadav arrested for implementation of the bandh)Big UPA allies like Trinamool and DMK too strongly protested, but both parties made it clear that they do not destabilize the central government. In Trinamool-Congress-ruled Kolkata, early morning saw fewer people on the street. Kolkata does not have a major presence in West Bengal, but managed an effective protest in some places like Howrah Bridge where it is blocked. (Read)
In Mumbai, apart from sporadic incidents of violence reported from the suburbs of Andheri and Mulund, the empty local train during the morning tell the story bandh. All the opposition parties in Maharashtra, the BJP, the Shiv Sena, the Republican Party of India and the Left will observe the bandh. The BJP and Shiv Sena had promised that essential services are not affected, but appealed to the shopkeepers to keep their establishments closed. The Quezon City Police are not taking chances and deployed 48,000 cops on duty bandh. Special attention is paid to sensitive areas such as CHEMBUR, Dadar, Jogeshwari, Govandi and Byculla. Although the taxi and autorickshaw union city leaders said they will not join the bandh, will be fewer people driving for fear of violence and damage to vehicles.
 
In the capital, entrepreneurs, autorickshaws and business organizations said they would join the bandh. Delhi is seeing the vehicle and traffic problems as BJP workers block traffic and demonstrations on the stage of the main locations. (Read: Traffic during bandh - places to avoid in Delhi)
"Friend" of the Mulayam Singh Yadav UPA of the Samajwadi Party (SP), by striking the edge of the Prime Minister and Congress president Sonia Gandhi UPA anniversary dinner a few days ago, is expanding its friendship with the fuel issue. His party opposes the hike and Akhilesh Yadav government in Uttar Pradesh has announced a statewide bandh. The UP government has also informed the conference that the cash-strapped national resources can not afford to ease the burden on ordinary people by withdrawing more than 20 percent value added tax (VAT) that the state imposes on fuel, not such as the Congress-ruled states like Delhi, Kerala and Uttarakhand have been, to cut VAT. A leader of the district SP, Ravindra Yadav, even said party burnt an effigy of PM Manmohan Singh in protest.
"Now we are doing resistance across the state in the direction of Mulayam Singh Yadav. People continue to die due to corruption and inflation. If they do not control inflation, then we do the hunger strike and sacrifice," Mr Yadav said.
Delhi: Auto strike hits commuters
Autorickshaws are plying less on the road with many unions joined the strike. (Watch) Nearly 55,000 autos and 15,000 taxis are expected to stay off the road.
The BJP workers blocked the road in east Delhi as part of the nationwide closure. There are several reports of blocked roads in north Delhi as well. The Delhi Traffic Police also sending text messages to people as part of its 'alert'.
Nearly 300 associations of traders in the city will also keep the market closed to support the closure.
Sporadic violence in Maharashtra: Mumbai police on alert
In Mumbai, two drivers were injured and 42 best bus is crazy now stone-pelting by protestors.
In Nagpur, Shiv Sena and BJP workers burnt tires and also attacked buses.
In Satara, Shiv Sena and BJP workers have stopped all buses from plying in the roads. They also ask the store to close down.
Protests in West Bengal:
In Kolkata, the BJP workers tried to block the way to the airport in Baguihati. They also burnt rubber tires. The police finally dispersed the crowd and someone is arrested. Bandh supporters also blocked the Howrah Bridge, which connects the city to Howrahdistrict.Protestors bus torched a stationary state government, but there is no harm. Police arrested 38 people for trying to disrupt traffic by putting up road blockades in different areas of Kolkata and Howrah.
Protestors also blocked roads in the Over Chapadali district Bankura Barasat, budge budge and some other areas, police said. They also damaged several buses in some areas, they said.
Slight standstill in Karnataka:
Bandh is disrupted normal life in parts of the BJP-ruled Karnataka where three buses were set on fire and stoned about a dozen others forcing the authorities to withdraw the bus service in the city. Press and public transport shops and business establishments remained shut in some parts of the state.
Protests in Uttar Pradesh:
Samajwadi Party workers are protesting at the Allahabad railway tracks, raising slogans against the Centre. They also block some trains. (Watch)
Protests in Bihar:
JD (U) workers staged a rail roko in Patna and local trains are affected. Party president Sharad Yadav was arrested in Saharsa.
Protests in Jharkhand:
RAJDHANI three trains - Delhi-Howrah, Sealdah and Delhi-Delhi-Bhubneshwar - was stopped near Koderma.

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Tuesday, May 15, 2012

EU Finance Ministers Seek Deal on Basel Bank Capital Rules

European Union ministers of finance makes a renewed attempt to hammer out an agreement on boosting the amount of capital and liquid assets must be held by banks in the region after the UK rejected a previous engagement.
Sixteen hours of talks with government draft law earlier this month foundered over how much freedom the national regulators should impose even tougher rules on their banks than those mandated by EU law. The UK and Bulgaria said that the compromises drawn up by Denmark, who holds the rotating EU presidency, will diminish their sovereign rights.
"Very hope we can make a firm decision now because the compromise is well balanced," Danish Economy Minister Vestager Margrethe told reporters before the meeting in Brussels. "We extremely close to an agreement. I think we are almost there."
Government and lawmakers in the 27-nation EU faces a deadline of January to implement the policy bank, which was agreed by the Basel Committee on Banking Supervision in the Wake of the 2008 collapse of Lehman Brothers Holdings Inc.. The proposal, known as Basel III, would more than triple the core capital that banks need to hold 7 percent of their assets, weighted for risk. The Basel agreement should be implemented in countries' laws before they come into effect.'National decision'
The United Kingdom has argued that a proposal presented last year of Michel Barnier, the EU financial services chief, would threaten its ability to regulate the banks by allowing the EU to the national veto moves to force the lenders that hold reserves higher than the Basel minimum.
"What countries agreed at the last meeting is that there is room for national discretion in its truest sense," Vestager said. "We have a majority for the compromise of May 2, the important thing now is to increase that majority."
United Kingdom Chancellor of the Exchequer George Osborne has said he would not accept any interference by the EU with its plan to force some banks to hold reserves at the core of 10 percent of their risk weighted assets.
"This is a time of great uncertainty in the euro-zone economy and uncertainty is undermining the entire European recovery," Osborne said today. "We are reaching the point where we make a decision to see the euro zone stood behind their money. An important part of that ratification of the European banking system and that is what we intend to do now."'Broad Agreement'
Swedish Finance Minister Anders of Borg said that government is needed to reach a unanimous decision on the proposal. The law is very important to agree by majority vote, he said.
"The requirements for a broad agreement is there," Borg said. "Situations that seem too reliable to the best of a good and responsible solution that makes it possible for us to raise our capital requirements rules the way we want."
The final version of the EU's law enforcement must be agreed by the government and lawmakers in the European Parliament.
The parliament yesterday approved its negotiating position. Denmark has called on ministers to settle their disagreements so that discussions can begin meeting soon.
Lawmakers at the conference called for legislation that expanded to include limits on bankers' bonuses and a so-called safeguard clause allowing the region to restore the Basel requirements if other countries do not have to apply them.Tax evasion
"A lot of technical work is done between the last meeting and now," Austrian Finance Minister Maria Fekter said. "We came today and I am very hopeful that commands can be given."
The Basel committee brings together regulators from 27 countries including U.S., UK and China to draw up prudential rules for banks.
Ministers will also seek an agreement on a mandate for the EU to negotiate treaties against tax avoidance savings bank in Switzerland, Liechtenstein, Monaco, Andorra and San Marino.
Talks with the mandate has been hampered by resistance from Luxembourg and Austria, with concerns that the move could threaten their own bank secrecy.
Austria Not Bow to Pressure to loosen banking secrecy rules, said Fekter.
"I am besieged from all sides and you know me: I stand my ground," Fekter said. "We are not going to provide the competitive advantage under pressure from the big countries."Tax decision
Fekter said there was "absolutely no circumstances" under which Austria has agreed to automatically provide foreign depositors' savings income data to their home tax authorities.
Still, she said, Austria will be open to enlarging the scope of EU-wide tax on interest of the law to cover more types of income.
All EU tax decisions require unanimity among the 27 governments.
Other point on the purpose of meeting with the budget talks in 2013 to boosting the EU and European Investment Bank.

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Saturday, May 5, 2012

NCTC will work as combined efforts to curb terrorism: PM

Making a strong pitch for developing an anti-terror hub, Prime Minister Manmohan Singh on Saturday said the establishment of the NCTC is not a State issue compared to the Centre but work as a vehicle of the country combined effort to suppress terrorism. Stressing that NCTC will increasecounter-terrorism capabilities of the state and not replace them, Singh asked state governments to work at the Centre in dealing with terrorism.
"Terrorism is now one of the most potent threat to our national security. Can be no disagreement over the placement of an effective counter terrorism regime with excellent gear and response system both at national level and state level, "The Prime Minister said in his acceptance speech at a conference of chief ministers called to discuss NCTC.
The special meeting was called after 12 prime ministers against the development of NCTC.
Singh said, "The establishment of the NCTC is not a state issue and compared the Centre's main objective behind setting up the NCTC is to coordinate counter-terrorism efforts around the country as the Intelligence Bureau is doing right now.
"NCTC should be a vehicle of our joint efforts to reach the shared goal of eradicating militancy a curbing terrorism," he said.
Singh said the history of NCTC arising from the Group of Ministers and the Administrative Reform Commission, commencing from the lessons learned in Kargil.
"It is our belief that NCTC, its design and operation aspects, increase counter-terrorism capabilities of the state and not replace them," he said.
He also drew attention of the chief minister to Standard operating Procedures circulated by the Union home ministry said the draft reflects the provisions of the details for the Centre-State coordination in both organizations to set up the NCTC and its proposed powers and functions.
"But for NCTC function properly and effectively, it is important that we have a fairly broad consensus on its powers and functions. We want the state government to us in this initiative, which we believe will strengthen our counter-terrorism efforts, "Singh said, adding the Centre is open to the suggestion of the prime minister.
Promotes the development of NCTC meeting, the Prime Minister said the NCTC mechanism would give each state agency an ability to see the bigger picture of the terrorist threat and therefore enhance their counter terrorism capability and access to resources.
Fears allaying some of the chief minister about the federal revenue structure, the Prime Minister stressed that the government's intention is in no way to affect the distribution of power between states and Union that the Constitution provides.
He said terrorism is now one of the most potent threat to national security. "There can be no disagreement on putting in place an effective regime to counter terrorism mechanisms and efficient response systems both at the national level and State level.
"No state or the Centre can fulfill this task alone. The closest cooperation and coordination is, therefore, necessary to meet the threats that emanate from within and outside our borders," said the Prime Minister .
He said it was the "responsibility of the Centre to give form and shape into a cohesive national strategy and approach based on information gathered throughout the world and from all states of our Union.
"On their part, the state should use their expertise, knowledge and machinery to assure their own territories and work in coordination with the Centre and other States," the Prime Minister said.
Singh said while since Mumbai attacks in November 2008, had a much closer coordination between the state and central agencies that resulted in remarkable success, however, much remains to do.
"In total there is broad agreement on the strategy and steps that we should adopt to counter terrorism in all different sizes in India, including cross-border terrorism, Left wing extremism, terrorism in Jammu and Kashmir, insurgency in North-East and religion-based terrorism, "he said.
Earlier this week, the home minister said the two draft SOPs for operating the NCTC is circulated in the state and they would diminish the apprehensions of many prime ministers expressed their concerns.
The home ministry sent the draft SOPs power list and the function of standing Council's anti-terror hub, which will have representatives of all state governments and the Centre.
The Director Generals of Police Chiefs of ATS or all of the state has become a member of the Standing Council of the NCTC and before any anti-terror operations are conducted, the NCTC will take police officers trust the state concerned.
The Centre also explained about the need for provisions NCTC and various unlawful Activities (Prevention) Act, particularly 43 (A) and 43 (B) used by the NCTC.
The two sections raised the hackles of some states.
The UA (P) Act provision 43 (a) empowers the police to arrest and search, while 43 (B) says any officer arresting a person under section 43 (A) should let him the place for such arrest and every person arrested and will be able to forward the articles seized under section 43 (A) without unnecessary delay to the officer in charge of the nearest police station.
These SOPs are also mentioned about the use of powers under sections 3.1 and 3.2 of the office memorandum was issued to accompany the list, functions, powers and duties of the NCTC.
Section 3.1 states the Director of the NCTC is defined as the designated authority under section 2 (e) of unlawful Activities (Prevention) Act, 1967.
Section 3.2 says that the officials of the NCTC operations division has the power to arrest and the power to search under section 43A of the UA (P) A.
On the home ministry also circulated the agenda papers for May 5 special meeting convened where it will explain the beginning, the purpose, structure and powers of the proposed NCTC.
The objective papers say the standing Council will meet more frequently if required and can also meet via video conference.
The Standing Council should ensure that NCTC is the sole and effective point of control and coordination of all counter terrorism measures.  




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