Congress on edge as SP, Trinamool meet

April 20, 2012
Mamatha

New Delhi, April 20: With just over a month left for the close of nominations for the presidential elections, the ruling Congress is focusing all its energies on zeroing in on a candidate who will secure the approval of its allies in the United Progressive Alliance.

The UPA holds around 40 per cent of the votes, approximately 10 per cent ahead of the Bharatiya Janata Party-led National Democratic Alliance. But given the unpredictability of its allies, particularly the erratic Trinamool Congress, the Congress would prefer not to risk a contest.

There are, of course, “friendly” non-NDA, non-UPA parties such as the Samajwadi Party and the Bahujan Samaj Party, both of which support the UPA from outside: however, their support cannot be taken for granted either.

Not surprisingly, therefore, an hour-long meeting between Trinamool chief and West Bengal Chief Minister Mamata Banerjee and SP supremo Mulayam Singh's emissary, Kiranmoy Nanda, on Tuesday in Kolkata on the possibility of the two parties joining hands for the presidential polls is causing unease in the Congress camp.

The two parties are apparently keen on a Muslim candidate and the name of the former President A.P.J. Abdul Kalam — who is also well regarded by the BJP — is being taken in this connection. The Congress would be happy with a Muslim president, but is not keen on Mr. Kalam's candidature, sources said.

The choice of Mr. Nanda as mediator is interesting as he was a minister in successive Left Front governments in West Bengal, while Mr. Singh enjoyed — and continues to enjoy — a good relationship with the CPI(M)'s national leadership.

Of course, after this meeting, Mr. Nanda was at pains to publicly state that his association with the Left Front in West Bengal was a “closed chapter”. The meeting is significant for another reason: earlier this year, there was speculation in political circles that the SP might replace the Trinamool in the UPA.

If the SP and the Trinamool band together, they could play a role in deciding who the next President is. It is also learnt that the SP has been in touch with the AIADMK.

The SP, whose strength has gone up substantially since the recent Uttar Pradesh Assembly polls, is clearly in a mood to effectively deploy its newly acquired clout. There is even talk that senior SP leader Ramgopal Yadav, Mr. Mulayam Singh's cousin, is being pushed by his party for the post of Deputy Chairperson of the Rajya Sabha.

Meanwhile, Lutyens's Delhi is awash with names for potential presidential candidates: Union Finance Minister Pranab Mukherjee, senior Congress leader and former Maharaja of Kashmir Karan Singh, Lok Sabha Speaker Meira Kumar, Chief Election Commissioner S.Y. Quraishi, Union Non-Conventional Energy Minister Farooq Abdullah, the former West Bengal Governor and Mahatma Gandhi's grandson Gopalkrishna Gandhi and Vice-President Hamid Ansari.

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News Network
January 2,2020

Perambalur, Jan 2: Veteran Tamil writer Nellai Kannan was arrested in Perambalur for criticizing Prime Minister Narendra Modi and Home Minister Amit Shah during a protest against Citizenship (Amendment) Act.

The Tirunelveli Police had registered the FIR against the writer for the speech delivered at a meeting, which was called by the Social Democratic Party of India on December 29 last year.

The police have booked him on the basis of multiple complaints filed by BJP leaders.

Kannan has been booked under Sections 504, 505(1) and 505(2) of the Indian Penal Code.

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News Network
January 31,2020

New Delhi, Jan 31: Substantial competition and low tariff rates by telecom operators since 2016 have led to a financial stress in the sector, the Economic Survey said on Friday.

The data price in the country came down by over 99 per cent during 2016-2019, making it among the lowest tariff in the world, according to the survey.

"Since 2016, the sector has witnessed substantial competition and price cutting by the telecom service providers (TSPs), creating financial stress in the sector. As a result, the sector is experiencing consolidation. While some operators have filed for bankruptcy, others have merged, in their quest to improve viability," the survey report said.

In April-June 2019, the price of data was Rs 7.7 per gigabyte (GB) as compared to Rs 200 per GB in June 2016, it added.

"The Average Revenue Per User (ARPU) for GSM based mobile services has also gone down substantially from Rs 126 in June 2016 to Rs 74.30 in June 2019," the survey said.

The tariff war started in the market with entry of new telecom operator Reliance Jio in September 2016.

"BSNL and MTNL are also affected by the tariff war that has impacted their cash flow resulting in mounting losses," the survey said.

The financial health of the public sector telecom firms plummeted to a level where they have been finding hard to pay employees salaries in time.

The government has drawn up a plan to revive these PSUs which is still in works.

The revival plan consists of several measures, including reduction of staff cost through voluntary retirement scheme, allotment of spectrum for 4G services, monetisation of land and building, tower and fibre assets of BSNL and MTNL, debt restructuring through sovereign guarantee bonds and ''in-principle'' approval for merger of BSNL and MTNL.

The survey said that the wireless telephony now constitutes 98.27 per cent of all subscriptions whereas share of landline telephones now stands at only 1.73 per cent where market share is dominated by private sector players.

"The overall tele-density in India stands at 90.45 per cent, the rural tele-density being 57.35 per cent and urban teledensity being 160.71 per cent at the end of September 2019. The private sector dominates with a share of 88.81 per cent (106.06 crore connections) at the end of September, 2019 while the share of public sector was 11.19 per cent (13.36 crore connections)," the survey said.

The lower price of data has also lead in surge of broadband connections and average consumption of the internet.

Total broadband connections increased by about ten times, from 6.1 crore in 2014 to 59.46 crore in June 2019, the survey said.

The number of internet subscribers (both broadband and narrowband put together) stood at 66.53 crore at the end of June 2019 as compared to 25.16 crore in 2014.

The number of mobile internet subscribers was 64.36 lakh at the end of June 2019 while the number of wireline internet subscribers was 2.17 crore.

"India is now the global leader in monthly data consumption, with average consumption per subscriber per month increasing 157 times from 62 MB in 2014 to 9.8 GB in June 2019. The cost of data has also reduced substantially, enabling affordable internet access for millions of citizens," the survey said.

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News Network
June 1,2020

Jun 1: Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained Sino-U.S. relations and boosted demand for the safe-haven metal, with a weaker dollar lending further support.

Spot gold gained 0.8% to $1,739.75 per ounce by 0242 GMT. U.S. gold futures ticked up 0.1% to $1,752.60.

"Concerns about the unrest in the United States at the moment appear to be weighing on market sentiment," said Michael McCarthy, chief strategist at CMC Markets, adding that rising tensions between the world's top two economies provided further support to gold.

Protesters have flooded the streets in the United States over the death of George Floyd in police custody, in a wave of outrage sweeping a politically and racially divided nation.

The closely packed crowds and demonstrators not wearing masks have sparked fears of a resurgence of COVID-19, which has killed more than 101,000 Americans.

In Asia, China's state media and the government of Hong Kong lashed out on Sunday at U.S. President Donald Trump's pledge to end Hong Kong's special status if Beijing imposes new national security laws on the city.

Gold is often used as a safe store of value during times of political and financial uncertainty.

Indicative of sentiment, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.3% to 1,123.14 tonnes on Friday, a fresh seven-year high.

Further supporting gold's appeal, the dollar index fell 0.4% against its rivals.

Elsewhere, silver jumped 2% to $18.20 per ounce, its highest since Feb. 26, before retreating slightly to trade 1.8% higher at $18.16.

Speculators cut their bullish positions in COMEX gold and increased them in silver contracts in the week to May 26, the U.S. Commodity Futures Trading Commission said on Friday.

Palladium rose 0.7% to $1,958.25 per ounce, while platinum declined 0.3% to $835.56.

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