Petrol price hike: Bandh may hit normal life today

May 31, 2012

national_Wide_Bundh

New Delhi/MumbaI/Chennai, May 31: The BJP and the CPM will come together in a nationwide protest against hike in petrol prices on Thursday. Markets may remain shut and autos and taxis might go off the roads.

Delhi: Traders decide to support BJP's call

Residents of the Delhi may find many markets shut and fewer autos and taxis on the road today, with BJP workers staging demonstrations on arterial roads against the steep hike in fuel prices. The party claims it has the support of over 300 traders' associations and several taxi and auto unions.

While the bandh has been called across India, the introduction of 5% VAT on CNG in Delhi budget is also an issue in the capital. On Wednesday, Delhi BJP president Vijender Gupta held a padyatra in Connaught Place asking traders to support the bandh.

On Wednesday, Delhi BJP president Vijender Gupta held a padyatra in Connaught Place asking traders to support the bandh. BJP has also decided to disrupt the ongoing budget session in the assembly. Police said that besides 35 extra companies of security personnel, another 50,000 cops would be out on the roads.

"We want to ensure that every major road has police presence. We are aware of a few protest spots and have the resources to rush in to control any situation. We warn people not to flout the law; those found rioting will be charged with destruction of public property," said a senior officer. Despite poor footfalls in the market due to rise in temperature, traders' associations have decided to support the bandh. "We have to stand together. This government has become arrogant and is not concerned about the people, who are suffering. Everything — from food items to gadgets— has become expensive. Still there is no stopping the government from increasing the prices of petrol and CNG. In Delhi, CNG is going to be the main issue," said Praveen Khandelwal, secretary general of Confederation of All India Traders.

While most traders have decided to support BJP's bandh call, some are said to be doing so out of fear. "We fear that the protestors might get violent if the markets are open. Not wanting to take chances, we have decided to close the market," said a trader from Khan Market. With more than 50,000 BJP workers expected to stage demonstrations at 100-odd locations, BJP is hopeful the government will be forced to rollback petrol and CNG prices. While BJP workers will protest outside, party MLAs are planning a stormy session in the assembly on Thursday.

Senas back bandh, Maharashtra talks tough

Undeterred by the Shiv Sena and MNS lending their political muscle to the BJP-called Bharat bandh over the steep hike in petrol price last week, the state government announced that it would be business as usual in Mumbai on Thursday. Nevertheless, local politicians expect trouble in saffron strongholds and the police have been deployed in full force.

Train services will run as usual and BEST has promised additional services if required. The same cannot be said for autos and taxis. While the bigger unions led by Sharad Rao and A L Quadros said their autos and taxis will ply, Sena-led unions have threatened to enforce the bandh.

"As long as the bandh is peaceful we have no objection. But if politicians indulge in violence and enforce it, we will not tolerate it," home minister R R Patil told TOI. On Wednesday, Patil held a marathon meeting with top police officials even as the saffron alliance charted their strategy to ensure that their bandh is a success.

Bandh expected to evoke poor response in Tamil Nadu

The nation-wide strike called by the NDA and Left parties on Thursday to condemn the hike in petrol price is unlikely to have much impact in Tamil Nadu with the state government taking steps to ensure maintenance of all essential supplies and services to the people.

However, autorickshaws might go off the roads as most of the drivers are affiliated to leftist trade unions.

Though a few milk dealers have supported the strike, sources in the state-owned Aavin said that measures have been taken to ensure uninterrupted milk supply.

"We have made all arrangements to have enough stock of milk in our parlours and outlets to ensure that the public will not be affected," a senior Aavin official said. Government sources assured that all hospitals and public transport will function as usual.

"The full fleet will be pressed into service in the city as well as across the state," an official from transport department said.

Police sources said additional personnel have been deployed at sensitive areas across the state to curb any untoward incidents.

Meanwhile, BJP state unit president Pon Radhakrishnan has appealed to all the political parties, commercial establishments and people of the state to support the bandh.

In a release, he said that since the hike in petrol price will test the patience of the people reeling under high inflation, the party had called for a nation-wide strike to condemn the UPA government move.

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News Network
May 14,2020

London, May 14: Fugitive liquor baron Vijay Mallya on Thursday urged the Central government to accept his offer to repay 100 per cent of his loan dues and close the case against him.

While congratulating the Centre for introducing Rs 20 lakh crore relief package to boost the economy amid the coronavirus lockdown, Mallya, lamented that his repeated attempts to pay back his dues have been ignored by the Indian government.

"Congratulations to the Government for a Covid 19 relief package. They can print as much currency as they want BUT should a small contributor like me who offers 100% payback of State-owned Bank loans be constantly ignored? Please take my money unconditionally and close," he tweeted.

Earlier this month, Mallya had sought permission to appeal against a ruling ordering his extradition to India in Britain's highest court the UK Supreme Court.

The application comes two weeks after the High Court in London - the UK's second-highest court - dismissed Mallya's appeal against a lower court ruling that he be sent to India to face charges of defrauding a consortium of Indian banks of more than Rs 9,000 crores relating to the collapse of Kingfisher Airlines in 2012.

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Agencies
July 24,2020

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

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News Network
April 23,2020

Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

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