Pained Pratibha gives up Pune retirement home

April 28, 2012

PrathibaNew Delhi, April 28: President Pratibha Patil on Friday wrote to Prime Minister Manmohan Singh about her decision not to move into what would have been her post-retirement accommodation in Pune. Her office said she was “pained” at allegations of her taking over land meant for “war widows” and “distortion of facts by the media.”

A controversy had broken out over the choice of land, owned by the Defence Ministry, and the scale on which the residence was being readied. An organisation of ex-servicemen in Pune had claimed that two British-era buildings would be knocked down to accommodate the building. Also, it said, the land was earmarked for war widows, an accusation the President's office claimed “led to a spiralling media attack.”

Negative reports

On Friday, the President's Office said: “She is deeply pained by the allegations about the land-grab. The negative reports about her post-retirement home were distressing and she has decided to forego her accommodation in Pune.”

“The President has not decided yet where her post-retirement home will be. She has just written to the Prime Minister her decision to forego the Pune accommodation,” an official said.

In a statement, the President's Office rebutted allegations that the land was identified for war widows, and cited examples of Ms. Patil's assistance to women and war widows in particular.

“The President has been reading and watching the unfolding of some fallacious observations regarding the accommodation in Pune, which she was to occupy after relinquishing the office of President. She chose not to react as she has always held herself answerable to the Constitution and her conscience. It was expected that once the facts were made public it would convince the concerned people. But despite clarifications given by the President's Secretariat, it is unfortunate that the misgivings continue to persist …” the statement read.

“…What has pained the President the most is the fact that she is now being portrayed by some people as one who, by agreeing to accept a defence accommodation for her post-retirement home, is insensitive to the cause of war widows and ex-servicemen. But facts are to the contrary,” the statement said.

To substantiate her concern for war widows, the statement included instances and media reports of how the President intervened and instructed various government agencies to take affirmative action. A case in point is that she, as Rajasthan Governor, instructed all District Collectors to inform her regularly of the progress in resolving the problems of war widows and that she ensured that the newly constructed ‘War Widows Hostel and Rehabilitation Centre' in Jaipur was allocated Rs. 2 crore from the Amalgamated Fund of the Governor.

The President's Office censured the media for continually running “programmes and polls” on the issue and “refusing to accept the clarification that was issued over the controversy.”

“Even after it was explained that the land owning agency will be the Ministry of Defence and that the land was never indicated as one earmarked for war widows, there was no end to the fallacious reportage. The President's Secretariat had made it clear that the land to be allotted to her was for use as her post-retirement residence only during her lifetime with no rights of ownership, transfer lease, etc.,” pointed out the official.

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News Network
July 16,2020

New Delhi, Jul 16: With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.

Having cut its key lending rate by an aggressive 115 basis points (bps) in 2020, on top of 135 bps cuts in 2019, the RBI so far has had little success in spurring credit growth amid varying degrees of lockdowns across India.

Some economists and market insiders argue it may be prudent for the MPC, the policy committee, to hold its fire when it meets early next month.

"It's probably too early to administer a demand stimulus. The RBI still has room to cut rates, but we probably want to be more cautious of the timing," said Venkat Pasupuleti, portfolio manager at Dalton Investments.

"Maybe they should wait a quarter to see how things pan out once the lockdown situation is eased further."

Market participants have factored in at least a 25 bps rate cut by the MPC on August 6 while analysts are predicting a total 50-75 bps cuts over the rest of the fiscal year that runs to March 31.

The spike in the retail inflation rate above the RBI's mandated 2%-4% target range is another reason for the central bank to take a breather, analysts say.

Annual retail inflation rose to 6.09% in June, compared to 5.84% in March and sharply above a 5.30% median forecast in a Reuters poll of economists.

Rahul Bajoria, an economist at Barclays, said the spike in both consumer and wholesale prices "could lead to a tempering in enthusiasm for material front-loaded policy support from here on."

Almost all economists however agreed the RBI cannot move away from its accommodative stance or call an end to the rate cutting cycle just yet.

India's economy grew at 3.1% in the March quarter - an eight year low - and some economists have predicted a contraction of more than 20% in the June quarter and a contraction of up to 5% in the fiscal year.

"Even in the event of a pause, we think the RBI and MPC would want to hold out the promise of more cuts," said A. Prasanna, economist with ICICI Securities.

RBI Governor Shaktikanta Das said in a recent speech the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, suggesting inflation concerns are unlikely to deter the downward trajectory for rates too soon.

"The August policy decision would boil down to a judgment call over whether RBI can maintain easy monetary and financial conditions without the aid of a token rate cut," Prasanna said. 

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News Network
August 7,2020

Idukki, Aug 7: Several people lost their lives and dozens of tea estate workers are feared trapped under soil in Kerala’s Munnar after torrential rains triggered a massive landslide on today. 

As many as five bodies have been recovered and rescue workers are fighting inclement weather to remove the debris.

According to rescue workers, four lanes of quarters and a church are buried under mud and around 80 people are feared trapped.

Seven people have been rescued so far and shifted to the hospital.

Sources said a portion of Pettimudi came crashing down on the workers colony with a deafening roar in the wee hours of Friday.

As people were sleeping in the quarters, there was little time to escape.

Further, with the Periyavara bridge being washed away, it became all the more difficult for rescue workers to reach the spot.

The construction of a new temporary Periyavara bridge however, is underway.

The bridge was previously destructed during the deluge of August 2018. Later during the north west monsoons and the south west monsoon of 2019, it suffered damage again.

The present bridge, which got damaged on Thursday after Kannimala river levels rose, was constructed under the leadership of Coir fed.

Although a new concrete bridge has been constructed near the temporary bridge in Periyavara, vehicle  movement has not been possible because the authorities are yet to build its approach via road.

The new bridge is to be constructed at a cost of Rs 4.75 crore from Devikulam MLA S Rajendran's fund.

The entire area has been cut off from outside world and communication networks have also crashed.

Teams of Fire and Rescue personnel, NDRF, revenue officials, estate workers and police are struggling to conduct rescue operations.

Meanwhile, District collector H Dhineshan said a team of rescue personnel was sent to Pettymudy after he was briefed about the mishap and search operations to locate and rescue people are underway.

Facilities have been arranged at the hospitals nearby to provide necessary treatment facilities to the people being rescued.

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News Network
June 8,2020

Jun 8: Petrol and diesel prices were hiked by 60 paisa per litre on Monday, for the second day in a row, as state-owned oil firms reverted to daily price revisions after a 83-day hiatus.

Petrol price in Delhi was hiked to Rs 72.46 per litre from Rs 71.86 on Sunday, while diesel rates were increased to Rs 70.59 a litre from Rs 69.99, according to a price notification of state oil marketing companies.

This is the second daily increase in rates in a row. Oil companies had on Sunday raised prices by 60 paisa per litre on both petrol and diesel after ending a 83-day hiatus in daily rate revision.

Daily price revision has restarted, an oil company official said.

While oil PSUs have regularly revised ATF and LPG prices, they had since March 16 kept petrol and diesel prices on hold, ostensibly on account of extreme volatility in the international oil markets.

Auto fuel prices were frozen soon after the government raised excise duty on petrol and diesel by Rs 3 per litre each to mop up gains arising from falling international rates.

The government on May 6 again raised excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel.

Oil companies, instead of passing on the excise hike to consumers, decided to adjust them against the reduction required because of the drop in international oil prices. They used the same tool and did not pass on the Re 1 per litre hike required for switching over to ultra-clean BS-VI grade fuel from April 1.

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