Budget Impact: Maruti, Hyundai slash Car Prices

Finance Minister P Chidambaram's 'dream budget' had good impact on the Car Manufacturers, as Maruti and Hyundai have decided to slash the prices of some cars with effect from Thursday. The prices of Maruti 800 Diesel model have been slashed by Rs. 18,430. Other Maruti models will witness a cut in the range of Rs. 11,000 to Rs. 16,000.

Ford India has reduced prices of its mid-size car 'Ikon' by Rs. 29,000 to Rs. 40,000. Hyundai Motor Company said it prices of its premium small car 'Santro' and the mid-size car 'Accent' will be cut by Rs 18,000 and Rs 34,000 respectively.

Prince Harry withdrawn from Afghanistan, to return Home soon

The British Defence Ministry has decided to withdraw Prince Harry from Afghanistan, after his secret mission became public. Prince Harry, the third in line to the British throne, is currently on a secret mission to Afghanistan to fight against Taliban. He is in Helmand Province with the British Army.

He was deployed there in December 2006, but the entire operation was kept secret. Details of his deployment became known when they were reported by The Drudge Report on Thursday and the British media decided that the agreement was off. As the situation has changed, the British Defence Ministry does not want to take any chance and has decided to withdraw Harry, thus not risking his life. He would return home soon.

Union Budget 2008-09 - An Editorial Analysis

--By Sagar Satapathy, Editor-in-Chief

The much-awaited Union Budget 2008-09 presented by Finance Minister P Chidambaram turned out to be a "Election Budget" with all major announcements directly benefiting the farmers, women, minorities, SCs and STs. The government's intention became clear when senior Congress leader Rajeev Shukla, while talking to TIMES Now, gave the credit of this "populist budget" to UPA Chairperson Sonia Gandhi, PM Manmohan Singh and other cabinet members.

Read between the lines..... There was no mention of FM P Chidambaram. When asked, Mr. Shukla fumbled and said Chidambaram too was a part of cabinet. What does that mean Mr. Rajeev Shukla? Who prepared the budget? Sonia Gandhi or Chidambaram? A question that need to be answered by the Congress, which seems to be an election mood.

The first shock came in the form of a huge bonanza for the farmers. Never in budget history, farmers got such a huge waiver of loans. Rs. 60,000 crore waiver for the farms!!! At whose cost? Who will pay for that. In the initial budget speech, Chidambaram expressed concern over the slow growth rate. Despite this, he announced such over-ambitious packages for the farmers. Are we really prepared to take such burden. We, the people of India, have a doubt.

It's not the government, it will be the exchequers who will share the burden. Congress will get the votes of 4 crore farmers and their families across the country. But common people will suffer for this unwanted generosity shown by the government. Nobody if the farmers of India get their due. They definitely deserve this. But why no such moves were initiated in the previous budgets. It could have been implemented in phases. Where is the rationale behind announcing such a huge bonanza at once? While the government smile, people will pay for that.

The Congress-led UPA government was accused of minority appeasement. It did exactly the same by announcing a slew of measures for the minorities. Rather than encouraging the minority community to send their children to government or private schools, the government provided special grant to Madrassas, that were considered as hubs for hard-core religious activities. We must encourage liberal mindset, not fanaticism, which will prove detrimental to our society.

The middle class people received another jolt, when the Union Budget 2008-09, increased the price of Cement. That means, housing sector will see a sharp rise in terms of prices and it will badly affect the middle class families that have been dreaming to have their own house. With a rise in Cement prices, the cost to build a house, will significantly increase.

Although the government has increased the personal income tax exemption slab to Rs. 1.5 lakh per annum, it failed to reward the regular tax payers. While the tax exemptions for men have been increased to Rs. 1.5 lakh, those for women are not fixed at Rs. 1.8 lakh. Senior citizens will be most benefited, as they will tax exemption up to Rs. 2.5 lakh.

This is an welcome step that will benefit millions of tax payers in the country. However, the tax deduction limit under Section 80 CC and Section 80 D remain the same. The Finance Minister could have done better to encourage people to invest more, by increasing the limit from existing Rs. 1 lakh to Rs. 1.25 lakh or Rs. 1.5 lakh.

It could be the last budget for Finance Minister P. Chidambaram, as the country will go to polls this year (possibly) or in April 2009. There will be no budget in Feb, 2009 unless a new government comes to power before the budget session. Although the FM tried to maintain a balance in his 'dream budget', he ended up giving maximum to some particular sections and less to others.

Since the budget was aimed at vote banks, more benefits were given to farmers, women, SCs, STs, OBCs and minorities. There were some consolations for the middle class people, but that was not enough. The extra burden government imposes (directly or indirectly) negated the good measures.

To conclude, it was indeed a populist budget, but makes only some sections of the society happy. If we rate the budget on a popular index, it will still get 6 out of 10. But, the generosity shown by the government to some sectors, may prove dearer for the common people. There is hardly anything to cheer about. Mr. Chidambaram came, Mr. Chidambaram saw and Mr. Chidambaram conquered. But.... he left a lot of questions unanswered.

CBI: Rizwanur's death was Suicide

The CBI concluded that death of Rizwanur Rahman, a 30-year old Cumputer Graphics teacher in Kolkata, was a suicide. The investigating agency has produced the report to the Calcutta High Court. The CBI has charged Rizwanur's father-in-law Ashok Todi, his brother and three senior police officers, with abetment of suicide, criminal intimidation and conspiracy in connection with the death.

The agency has also recommended to the government to take appropriate disciplinary action against the then Commissioner of Police, Prasun Mukherjee, as well as departmental disciplinary major penal action against another IPS officer, Gyanwant Singh, and two officers of a local police station. The HC will pronounce its verdict on the report later today.

Union Budget 2008 (Round 2) - Tax Benefits for All

Continuing with the populist measures in the first phase of Union Budget 2008 (one hour ago), which promised a lot for the farmers, Women, SCs, STs and Minorities, Finance Minister P Chidambaram announced major tax reliefs across the board. The common Tax Exemption has been extended to Rs. 1.5 lakh, bringing huge relief to the salaried class people. Here are the details of budget highlights that focus on Duties and Taxes:

Duties:

Excise Duty cut from 16% to 14 %
Small Cars like Nano and Maruti 800 to be cheaper
Customs Duty on Crude cut from 5% to 2%
Ad Valorem duty on diesel, petrol removed
Cigarettes will be costlier
Anti-AIDS drugs will be cheaper
Duty on two-wheelers and three-wheelers reduced to 12% from 16%

Customs Duty on Project Imports cut by 2%

Customs duty on specified sports goods machinery down from 7.5 per cent to five per cent

Sports Goods to be cheaper

Set Top Box, Dairy Products, ACs and Washing Machines to be cheaper

Mobile Phones, Cement, Packed Software to be costlier

Shampoos, Oil, Tea, Coffeee, Coconut, Paper will be cheaper

With a 5% duty cut, life-saving drugs will be cheaper

IT Products will be cheaper

No excise duty on refrigerating equipments

Excise duty on hybrid cars cut from 24 per cent to 14 per cent

Excise on small cars cut to 12 per cent from 16 per cent

Custom duty on vitamin pre-mixes to lower from 30% to 20%

Duty withdrawn on naptha for production of polymers.25

Duty on crude and unrefined sulphur reduced from five to 2 per cent to help raise domestic fertiliser production

Duty withdrawn on naptha for production of polymers

General Cenvat on all goods to be reduced from 16 per cent to 14 per cent

Excise duty reduced from 16 per cent to eight per cent on all pharmaceutical goods

Import duty on Luxury Cars increased to 180 per cent

Excise duty reduced from 16 to 8 per cent on water purification items

Taxes:

Income Tax Exemptions limit for men raised Rs. 1.5 lakh
Income Tax Exemptions limit for women raised Rs. 1.8 lakh
Income Tax Exemptions limit for Senior Citizens raised to Rs. 2.25 lakh
No change in Corporate Tax
Four new sectors brought under service tax net
Earnings from Rs. 1.5 lakh to Rs. 3 lakh per annum- 10% income tax
Earning from Rs. 3 lakh to Rs. 5 lakh per annum - 20% income tax
Earnings above Rs. 5 lakh - 30% income tax

Tax exemptions up to Rs. 15,000 will be given on health policies to be spent on dependent parents
5-year tax breaks for UNESCO Sites, 2,3 and 4 star hotels
5-year Tax Holidays for Hospitals across the Country
Banking Cash Transaction tax to be withdrawn from April 2009
Fresh facilities, encouragement to sports and guest houses exempted from Fringe Benefit Tax.

No changes in Security Exchange rates
Short Term Capital Gain Tax to be increased from 10% to 15 %

General Sales Tax, reduced from 3% to 2%.

PAN requirement to be extended to all transactions in capital market subject to a threshold

Direct tax proposals to be revenue neutral. Indirect tax proposals to result in loss of Rs 5,000 crore.

Asset management service under mutual funds, services by stock exchanges to be brought under Service Tax net

Chidambaram's Budget 2008-09 aims at Farmers, Women and Minorities

As expected, Finance Minister P Chidambaram focused on people that can be easily wooed as vote banks. Farmers, Women, SCs, STs, OBCs and Minorities get bumper packages. The focus of this budget is clearly on rural and social sector and the FM has maintained a good balance to woo the above people ahead of possible general elections within a few months. The FM later announced tax measures and duty reductions that will benefit the middle class people. Here are the highlights of Union Budget 2008:

Vision and Growth:

Total Plan expenditure fixed at Rs 2,43,000 crore and non-plan expenditure at 5,74,000 crore.
Growth rate has gone over 8 percent
It will be maintained at 8.8 per cent in the next fiscal
India has become self-sufficient in food grain productions
2008-09 will be a year for consolidation of government policies
Adequate steps to be taken to keep the inflation rate under check

Fiscal Deficit 3.1 per cent of GDP

Revenue Deficit 1.4 per cent of GDP

Soyabean output to be 9.45 mn tonnes

Maize production to be 16.78 mn tonne

Rice production to be 94.08 mn tonnes

Total agri production to be 219.32 mn tonnes at all time high

Education:

Funding for Education sector will be up by 20 percent
Allocation for education sector - raised to 34,400 cr
Mid-day Meal schemes will be extended to upper-primary schools (2.5 cr children)
Three new IITs will be set up in Andhra Pradesh, Bihar and Rajasthan
16 Central Universities will be set up across the country - one in each state
Age limit for science scholarship raised

Rs 750 crore for upgradation of 300 ITIs in 25 districts

22 Sainik schools get Rs 44 crore

Bhopal and Tripura to get one IIScR each and 2 colleges of art

Health and Development:

Services sector is expected to grow by 10.8 per cent
Rs. 31,280 cr for Bharat Nirman Yojana
All knowledge institutions will be integrated
Rs. 85 crore for Knowledge Society in 2008
Health spending to increase by 15 per cent - allocation to be raised to Rs, 16,534 crore
Total allocation for NRHM (National Rural Health Mission) to be at Rs. 12,050 crore
National Program of elderly worth plan outlays of Rs 400 cr
Health Insurance of Rs. 30,000 for all BPL families
Remuneration of Anganwadi Workers to be raised at Rs. 1500 per month
Rs. 750 crore to be given to 1 lakh Scholarship
Rs. 70, 200 crore to be spent on drinking water mission
Rs. 1,200 crore for sanitation programmes
Rs. 7,300 crore for Rajiv Gandhi Water Mission
Rs. 6,870 crore for Urban Development programmes
Rs. 992 crore for AIDS related programmes
NREG Scheme rolled out for 596 rural districts
Rs. 500 crore fund for development in the North-east

Rs. 16,436 crore as equity support to public sector enterprises
Govt. to provide Rs 303 crore as debt support to PSUs
Rs. 12,970 crore allocated for National Highways
Commercial banks to have 250 rural accounts every year
Rs. 5000 crore fund for enhancing re-finance operations
Govt to tap into resources of SCBs to set up funds
Rs 32,667 crore for food subsidies under PDS scheme
Govt to create national fund for power transmission and distribution
Defence allocation raised to Rs 1,05, 600 crore
Defence spending to increase by 10 per cent
Rs. 624 crore to be allocated for Commonwealth Games
The 6th Pay Commission will meet Employee expectations

Special Tiger Protection Force will be formed

Sixth Pay Commision Report to be produced before March 31, 2008

Haryana and Chandigarh to introduce smart card based delivery system under PDS

Rs 8000 cr plan for faster power reforms

NHDP allocation up from Rs 10,866 cr to Rs 12,966 cr

FDI in Apr-Dec at $12.7 billion, FII inflow over $18 billion

Tea Research association gets Rs 20 cr

Rs 200 cr for providing portable water system in each school in areas of water scarce regions

Rs 50 cr for Tiger Conservation

Sops for Women, SCs, STs, OBCs and Minorities:

Rs. 3,996 crore for SCs, STs and OBCs
Rs. 804 crore SC Development programmes
Rs. 195 crore for ST Development Project
More schools will be opened for SCs and STs in 20 more districts
Rs. 11,460 crore for projects related to women
Rs. 33,434 crore for projects related to children
Rs. 45 crore for the modernization of Madarassas
288 branches of govt. bank to be opened in minority dominated areas
Rs. 13,100 crore for Sarba Siksha Abhiyan
Women and Self-Employed will get loans from LIC

Rs. 80 crore for development of Girls' Hostels

More minority people will be recruited in para-military forces
Rs. 650 crore for 6000 model schools across the country
Rs. 16,202 cr projects will have 30% women representations
Allocation to Ministry of Minority Affairs raised to Rs. 1000 crore

Jawaharlal Navoday Vidyalaya to be set in 20 new districts for SC/STs

54 gender budgeting cells set up

LIC to cover all woman SHGs linked to the bank

Bonanza for Farmers:

Agriculture Credit Disbursal target - 2,80,000 crore
Govt. to set up irrigation and water resource corporations
Rs. 75 crore will be spent for mobile soil-testing labs in 260 districts
Scheme of debt waiver and debt relief for farmers
All loans disbursed up to March 2007, have been waived
Waiver of all loans to marginal farmers holding lands up to 1 hectare
Loan Waiver for small farmers holding lands up to 1-2 hectares
One-time settlement scheme of all bank loans for farmers
Rescheduled agricultural loans will be eligible for loan waiver
Waiver amounts 4 per cent of total bank loans
Debt waiver to be implemented by June 30, 2008
All loans issued by SCBs, Rural Bamks and Co-operative banks are waived
In total, 4 crore farmers will benefit from the scheme

Total amount of loan waivers will be around Rs. 60,000 crore

Rs 340 cr insurance scheme to cover 17 lakh farmers and weavers

All 30 integrated textile parks approved

Duties:

Excise Duty cut from 16% to 14 %
Small Cars like Nano and Maruti 800 to be cheaper
Customs Duty on Crude cut from 5% to 2%
Ad Valorem duty on diesel, petrol removed
Cigarettes will be costlier
Anti-AIDS drugs will be cheaper
Duty on two-wheelers and three-wheelers reduced to 12% from 16%

Customs Duty on Project Imports cut by 2%

Customs duty on specified sports goods machinery down from 7.5 per cent to five per cent

Sports Goods to be cheaper

Set Top Box, Dairy Products, ACs and Washing Machines to be cheaper

Mobile Phones, Cement, Packed Software to be costlier

Shampoos, Oil, Tea, Coffeee, Coconut, Paper will be cheaper

With a 5% duty cut, life-saving drugs will be cheaper

IT Products will be cheaper

No excise duty on refrigerating equipments

Excise duty on hybrid cars cut from 24 per cent to 14 per cent

Excise on small cars cut to 12 per cent from 16 per cent

Custom duty on vitamin pre-mixes to lower from 30% to 20%

Duty withdrawn on naptha for production of polymers.25

Duty on crude and unrefined sulphur reduced from five to 2 per cent to help raise domestic fertiliser production

Duty withdrawn on naptha for production of polymers

General Cenvat on all goods to be reduced from 16 per cent to 14 per cent

Excise duty reduced from 16 per cent to eight per cent on all pharmaceutical goods

Import duty on Luxury Cars increased to 180 per cent

Excise duty reduced from 16 to 8 per cent on water purification items

Taxes:

Income Tax Exemptions limit for men raised Rs. 1.5 lakh
Income Tax Exemptions limit for women raised Rs. 1.8 lakh
Income Tax Exemptions limit for Senior Citizens raised to Rs. 2.25 lakh
No change in Corporate Tax
Four new sectors brought under service tax net
Earnings from Rs. 1.5 lakh to Rs. 3 lakh per annum- 10% income tax
Earning from Rs. 3 lakh to Rs. 5 lakh per annum - 20% income tax
Earnings above Rs. 5 lakh - 30% income tax

Tax exemptions up to Rs. 15,000 will be given on health policies to be spent on dependent parents
5-year tax breaks for UNESCO Sites, 2,3 and 4 star hotels
5-year Tax Holidays for Hospitals across the Country
Banking Cash Transaction tax to be withdrawn from April 2009
Fresh facilities, encouragement to sports and guest houses exempted from Fringe Benefit Tax.

No changes in Security Exchange rates
Short Term Capital Gain Tax to be increased from 10% to 15 %

General Sales Tax, reduced from 3% to 2%.

PAN requirement to be extended to all transactions in capital market subject to a threshold

Direct tax proposals to be revenue neutral. Indirect tax proposals to result in loss of Rs 5,000 crore.

Asset management service under mutual funds, services by stock exchanges to be brought under Service Tax net

Expectations are High, as FM set to present Union Budget 2008

--By Sagar Satapathy, Editor-in-Chief

The Finance Minister P Chidambaram is all set to present the Union Budget for year 2008-09. After getting a populist Railway Budget, people are expecting more sops from the Finance Minister, as it could be his last budget speech, if all indications go right. The budget is expected to focus on people in the wake of possible general elections later this year.

While the salaried class expect more tax benefits from the Finance Minister, the corporate sector wants a cut in Corporate tax and several custom duties. The common people are concerned about the rise in prices of the basic commodities and they look at the Finance Minister for more populist measures to curb the inflation rate and make their life easier. The Oil and Petroleum sector want further cut in duties to recover from the loss they currently suffer. Farmers can expect a bumper package, as the UPA government may not want to displease them in the election year.

There are high expectations all around be it farmers, businessmen, industrialists, students or unemployed youth. The Economic Survey presented in the Lok Sabha yesterday, indicated that though we are on the path of high growth, a lot are still to be done. The Finance Minister has an uphill task to come up with a budget that will please all. Railway Minister Laloo Yadav had a scored a point when he presented the Railway Budget' 08. Will Chidambaram be able to emulate that feat? Wait for a few hours, and you will know. Good Luck Mr. Finance Minister!

Musharraf pardons Indian Prisoner Kashmir Singh

In a welcome step towards the improvement of relations between India and Pakistan, Pakistan's President Pervez Musharraf granted amnesty to Indian prisoner Kashmir Singh, who is currently lodged in a Rawalpindi jail.

Kashmir Singh was arrested in 1973. He was charged of espionage and was facing death sentence. He will be repatriated to India soon. His family members have expressed huge relief over his possible relief. People from different quarters, have welcomed Musharraf's noble gesture.

Sanjay, Manyata's Goa Marriage cancelled

Bollywood Actor Sanjay Dutt and his wife Manyata Dutt, withdrew their marriage declaration, filed before the South Goa Sub Registrar. The couple said they did not want to solemnise their marriage under the Portuguese Civil Code, 1867. They had no idea that Special Marriage Act did not apply to Goa.

Since their marriage under Goa's Law, has been cancelled, Sanjay and Manyata now want to register their marriage under the Special Marriage Act of 1954.

Train Mishap in Surat, 16 crushed to Death

In a tragic incident, at least 16 people were run over by a speeding train in Udhna town of Gujarat's Surat district. The incident occurred in the wee hours of Thursday. Two women and two children were among the dead. All bodies have been severely dismembered. Those dead were reportedly labourers and their family members.

Senior officials have immediately rushed to the spot. Investigation is going on to ascertain the circumstances that led to such a ghastly tragedy.

Backdoor Politics takes Centrestage in Pakistan

--By Sagar Satapathy, Editor-in-Chief

The latest developments in Pakistan suggest that something is cooking between Asif Ali Zardari's PPP and President Pervez Musharraf. Although Zardari does not dare to defy people's verdict against Musharraf by joining hands with him, it has become obvious that he is going soft on the beleaguered President and some backdoor politics are being played by both leaders.

Asif Ali Zardari has been in the news for all wrong reasons. There were several corruption charges against him and he was jailed by former PM Nawaz Shariff (now alliance partner), and later exiled. Musharraf, who has once declared a war on corruption, seems to find favor with Zardari.

It came to notice when Zardari made it clear that they did not enjoy a two-third majority in the Parliament to impeach the President. On the other hand, his alliance partner PML - N claimed they had two-third majority with the support of independents and other parties. Both partners are contradicting each other and Nawaz Sharif has even talked of supporting the PPP from outside instead being a part of the government. While Nawaz wants the sacked Judges to be restored, Zardari is silent on this issue.

In another interesting development, the Supreme Court of Pakistan has terminated graft cases against PPP co-chairman Asif Ali Zardari. The court's decision followed by the dismissal of three petitions challenging a controversial order granting amnesty to PPP leaders in corruption cases. It gave further ammo to speculations of a possible tie-up between Zardari and Musharraf.

Although these talks may finally end up as rumors and speculation, a future patch-up between Zardari and Musharraf cannot be ruled out. If Musharraf looks for a trusted friend who will bail him out of the current crisis, there is only one option available to him and it's Asif Ali Zardari.

Dawood's Aide Sajid Wagle arrested in Mumbai

The Mumbai Police achieved a major breakthrough, when they arrested fugitive don Dawood Ibrahim's nephew, Sajid Wagle in an extortion case. He was arrested from South Mumbai. Wagle was later produced in the Metropolitan Court, which remanded him to police custody till March 10. He is the son of Dawood Ibrahim's elder sister Shahida Wagle who died last year.

4 New Trains for Orissa, Rajdhani Express to run 3 days a Week

Orissa has its share in Laloo Prasad Yadav's dream 'Railway Budget'. Out of the 53 new trains introduced, Orissa got four. A new train will run from Bhubaneswar to Mumbai via Sambalpur twice a week, while another one will run from Puri to Darbhanga once a week. The two other new trains announced for the state are local. One train will run from Paradeep to Bhubaneshwar on a daily basis, while another train will run from Kendurjharagarh to Puri on a daily basis.

In addition, routes of some other trains have been extended. They included Varanasi-Ranchi to Sambalpur via Rourkela and Baripada-Bhubaneswar Express from tri-weekly to six days a week. The major relief came when the Railway Minister announced that Bhubaneswar - Delhi Rajdhani Express will run thrice a week instead of existing schedule of twice a week.

Orissa Govt. orders prope into 'gang-rape' of varsity student

The Orissa Government has ordered a probe into the alleged gang-rape of a student of Sambalpur University. The government decision came in the wake of violent protests by the students across the state. The Revenue Divisional Commissioner Northern Range will probe into the incident and submit his report within the next 15 days.

A 20-year old 1st year MCA student of the Sambalpur University, was allegedly drugged, tortured and raped by some miscreants, who later dumped her in a residential area. The student was staying in the University hostel. The University was closed indefinitely after violent students damaged computers and University properties worth Rs 10 million (as claimed by the University officials).

HDFC Bank approves Merger of Centurion Bank of Punjab (CBoP)

HDFC Bank has finally approved the acquisition of Centurion Bank of Punjab (CBoP) for Rs. 9,510 crore. It is considered as the largest merger in the financial sector in India. CBoP shareholders will get one share of HDFC Bank for every 29 shares held by them. After the merger, HDFC Bank would be at seventh position among the banks in India.

The boards of the two banks will meet on February 28, 2008 to consider the draft scheme of the merger, which will be subject to regulatory approvals. The HDFC Bank board will also consider making a preferential offer to its promoter, Housing Development Finance Corporation (HDFC), to enable it to maintain its shareholding in the merged entity.

CBoP’s Non-Executive Chairman Rana Talwar will be appointed the non-executive director of the merged entity, while its Managing Director and CEO Shailendra Bhandari will join the board as the executive director.

India test-fires Undersea Ballistic Missile

India joined the select band of five countries, when it test-fired its first-ever undersea nuclear capable ballistic missile off the eastern coast. The missile was test-fired from Vishakahpatnam. The missile known as K-15, has a range of 700 kms. It was fired from a pontoon immersed in the sea. The missile rose from the waters and blasted into the sky.

Laloo Yadav presents 'dream' Railway Budget' 08

Union Railway Minister Laloo Prasad Yadav presented his 'dream' Railway Budget for the year 2008-09 in Lok Sabha. The Railway Minister, who is credited for turning around the fortunes of Indian Railways, made an unprecedented fare cut in all AC and Sleeper Class tickets. Here are the highlights of Railway Budget 2008:

Vision, Profit and Target:

1) Indian Railways reached new heights in the past four years
2) Rs. 25,000 crore surplus profit in 2007-08
3) Rs, 68,778 cr cash surplus over last 4 years
4) 8.2 growth in freight loading till December 2007
5) 76.3 % operating ratio in 2007
6) Railway Vision 2025 will target the next 17 years
7) Rs 2,000 crore earning from 3,000 more boggies

8) Rs. 1 trillion to be generated from public sector-private sector collaboration

Services:

1) 53 new trains, 10 more Garib Trains introduced
2) 16 trains will be extended
3) Jansadharan Seva to be extended to all trains
4) Information Technology will be used at all ticket counters
5) Enquiry call centres accessible throughout the country
6) LCD display screens at all stations
7) Green toilets in 36,000 boggies at Rs. 4,000 crore
8) Public Address System in all trains
9) Multi-level parking in 30 big stations
10) Escalators and lifts in 50 big stations
11) Automatic Signalling System to be installed
12) East and West Corridor projects okayed
13) 20,000 wagons to be made by Dec' 09
14) 5000 wagons to be upgraded
15) Security in all trains to be enhanced
16) Multi-purpose card called 'Go-Mumbai' issued for Mumbaikars
17) Call centers to become accessible at local tariff
18) Bomb detection service in all stations
19) Anti-collision system in all trains
20) Automatic ticket counters to be increased to 6,000
21) Passengers can get e-ticket over Internet

22) Smart Card-based ticket system in all staions

23) All coaches of Shatabdi and Rajdhanis to be modernised

24) 560 railway platforms to be lengthened to accomodate long trains

Sops:

1) 7 % fare cut in 1st AC tickets
2) 4 % fare cut in 2nd AC tickets
3) 3 % fare cut in 3rd AC tickets
4) 5 % fare cut in Sleeper Class tickets (over Rs. 50)

5) Up to Rs. 50 cut in Second Class Passenger fare

6) Rs. 1 discount on tickets up to Rs. 50
7) Women students will get season tickets till graduation
8) Women senior citizens will get 50 percent concessions
9) 7-bogey mother-child health express trains with maternity care to be launched across the country
10) Male students to get fare concessions to home city till class 12
11) AIDS patients to get 50 percent concession
12) Ashok Chakra winners will travel free in Shatabdi, Rajdhani Express

13) 5 % cut in freight on Petrol, Diesel

14) 6 % concession on freight to North East

15) 14 % cut in all freight charges

16) All registered Coolies will get Class IV Employee status. They will be employed as Gangmen.

Orissa Students outraged over 'gang-rape' of Varsity Girl

Students in several parts of Orissa, have launched agitation to protest against the alleged gang-rape of a first year student of MCA in Sambalpur University. The victim was found near Seva Nursing Home at Sakhipara yesterday in a sub-conscious condition. According to the police, he was drugged, tortured and raped by a group of people.

The victim has been admitted to a government hospital and is said to be stable. Hundreds of students took the streets in Sambalpur, Burla, Cuttack, Bhubaneswar and several places of the state, demanding immediate action against the culprits. The police have arrested four people in this connection and are investigating the matter.

For a Change: Darul Uloom, Deoband declares war on Terror

In a significant development, the main Islamic organization of Muslim Clerics, Darul Uloom in Deoband, has declared an open war against terror. Top Muslim groups that attended the Anti-terrorism Conference organized by Darul Uloom, adopted a declaration calling terrorism as "un-Islamic" and terming it against the Islamic principle of peace.

They also criticized attempts to malign Muslims and Madrassas. The conference was attended by scholars and religious leaders from several sects and groups across the country. Over 10,000 people attended the conference.

Andrew Symonds - The 'Dirty Boy' of World Cricket

--By Sagar Satapathy, Editor-in-Chief

Australian all-rounder Andrew Symonds turned out to be the 'dirty boy' of world cricket. Skipper Ricky Ponting exploits his aggression to target the opposition and they have been successful so far in their new endeavor.

Ironically, Symonds was found provoking opposition players more than a dozen times, but he was never penalized. Reason: Symonds' provocation is so aggressive that opposition players easily get trapped, lose their cool and start taking on him. As a result, they all get penalized and Symonds gets the clean chit. It's all about twisting the rules and Ricky Ponting's lieutenant has been effectively doing this.

Remember the last series between India and Australia in 2007. Symonds targeted Indian players almost in every match and provoked them to explode and lose momentum. Indian youth may be aggressive and energetic. But they lack the mind game techniques played by Symonds and Ricky Ponting. It's surprising that Symonds is involved in every altercation that takes place on the field, but ICC remains a mute spectator.

In the 2007 series, Symonds targeted S Sreesanth, Harbhajan Singh, Irfan Pathan, Sourav Ganguly and even Sachin Tendulkar. His tirade against the Indian players continued, when Indian team reached down under to play the Test and CB Series. Thanks to Symonds, a small issue was blown out of proportion in Sydney and it resulted in the biggest ever cricket controversy that included racism charges. Later, it became clear that it was Symonds who provoked Harbhajan Singh to use offensive language against him.

If that controversy was not enough to spoil the relations between India and Australia, Symonds found himself in the centre of controversy yet again. For the first time in the series, he found his rhythm back and was going all out against Indian bowlers in Sydney. Suddenly, he missed the ball and his stumps were uprooted by 19-year old Ishant Sharma.

When Ishant jumped with joy, Symonds became furious and started abusing Ishant, which provoked Ishant to show a "send-off" finger to Symonds. Ricky Ponting, who has been Ishant's bonny throughout the series, immediately complained to umpires. The matter was reported to match referee and Ishant was fined 15 per cent of his match fee. But Symonds was let off without any warning.

The entire episode takes us back to the colonial era, when nobody dared to raise fingers against white players. Australia has become so powerful in world cricket that ICC umpires and match referees have started treating them as gods of cricket. They simply believe that Australians can't do anything wrong, as they are master of the game and champions. Is this mindset good for world cricket? It's high time other cricket playing nations join hands together and take on the arrogant and ill-tempered Australian players. If you are champs, play like that. Don't bring dirt to the game.

It is true that some Indian players such as Sreesanth and Harbhajan have overstepped the line sometimes. But they are young players as compared to the 30+ Australians. If young Indian players misbehave on the field, the Aussies are equally blamed for provoking them.

A few Australian players including Ponting, Hayden Symonds are bringing the game into disrepute. And, Symonds leads the pack. He must be reined in immediately, or else cricket will become dirtier in the coming days. Players will forget to uphold the spirit of the game and instead will bay for each other's blood. That should be prevented at any cost.

2008 Oscar Awards announced

The 80th Annual Academy Awards have been announced in a gala function in the night of February 24, 2008. Coen Brothers' hit film 'No Country For Old Men' won 4 Oscars, while 'There Will Be Blood' and 'The Bourne Ultimatum' won 3 awards each. 'No Country For Old Men' won the Best Picture award. As expected, Daniel Day-Lewis won the Best Actor award, while Marion Cotillard won the Best Actress award.

Here's the complete list of 2008 Oscar Award winners:

Best Picture: No Country For Old Men
Best Director: Joel Coen and Ethan Coen (No Country For Old Men)
Best Actor: Daniel Day-Lewis (There Will Be Blood)
Best Actress: Marion Cotillard (La Vie en Rose)
Best Supporting Actress: Tilda Swinton (Michael Clayton)
Best Supporting Actor: Javier Bardem (No Country For Old Men)
Best Foregin Language Film: The Counterfeiters (Austria)
Best Animated Feature Film: Ratatouille
Best Adapated Screenplay: No Country For Old Men
Best Original Screenplay: Juno
Best Music (Score): Atonement
Best Music (Song): Falling Slowly - Once (performed by Glen Hansard and Marketa Irglova)
Best Documentary Feature: Taxi to the Dark Side
Best Documentary Short Subject: Freeheld
Best Visual Effects: The Golden Compass
Best Cinematorgraphy: There Will Be Blood
Best Art Direction: Sweeney Todd: The Demon Barber of Fleet Street
Best Animated Short Film: Peter and the Wolf
Best Short Film: Le Mozart des Pickpockets
Best Costume Design: Elizabeth: The Golden Age
Best Make-up: La Vie en Rose
Best Sound Mixing:The Bourne Ultimatum
Best Sound Editing: The Bourne Ultimatum
Best Film Editing: The Bourne Ultimatum

Reliance Power Shares soar High

Shares of Reliance Power soared by 4 per cent following the announcement by the board that it would give a bonus of 3 shares to shareholders who hold 5 shares of Reliance Power IPO. However, the new offer won't be applicable to promoter groups, Reliance Energy and Anil Ambani’s personal investment vehicles.

Anil Ambani, chairman of the ADA Group also announced that he would transfer 2.6 per cent of his personal stake in R-Power (worth Rs 4,700 crore) to Reliance Energy in order to compensate the company for the dilution of its stake in R-Power.

Top Maoist Leader nabbed, remanded to Police Custody

Top Maoist leader Somen, who is responsible for major Naxal operations in West Bengal, Orissa and Jharkhand, has been apprehended by West Bengal police from Hridaypur railway station in North 24-Parganas district. He was later remanded to police custody by the Barasat court.

Somen is the state secretary of the CPI (Maoist). He has been charged with waging a war against the state, sedition and conspiracy. Somen is likely to be charged for 135 attacks, including the killings of 43 CPM men and 27 security personnel, between 2001 and 2008.

Naveen Patnaik ready to talk to Maoists

The Orissa Chief Minister Naveen Patnaik has offered an olive branch to the Maoists in the state, saying he is ready to talk to them if they give up arms and come to the negotiating table.

The CM's statement holds significance in the wake of the people questioning the status of ongoing combing operation against the Maoists, which failed to yield any positive results so far.

Raul Castro named President of Cuba

It's official now. Cuba's Parliament has elected Raul Castro as the new President of Cuba. The post fell vacant after former President Fidel Castro resigned after a prolonged illness. Fidel ruled Cuba for nearly 50 years. After assuming charge, Raul said, "Fidel is irreplaceable. There is only one Commander in Chief of the Cuban Revolution: Fidel is Fidel and we all know it well".

Raul Castro named General Julio Casas Regueiro to replace him as head of the country's armed forces. The world including the Unites States have high hopes on Raul Castro and expect that he will create a new era in Cuba's history.

CRPF accused of faking Arms Recovery ahead of Sonia's Visit

The Jammu & Kashmir Police have refuted the claim made by the CRPF that it foiled a militant plan to attack Sonia Gandhi in Bhaderwah. The CRPF had claimed that it had seized explosives and arms from a militant hide-out, which was just 800 meters away from the venue for Sonia Gandhi's rally. However, the J&K police called it a "fake recovery". The DIG, Doda range, has ordered a probe into this incident.

'Taj Mahal on sand' in Brussels [Amazing Pic]

Renowned Sand Artist from Orissa, Sudarshan Patnaik has carved a beautiful Taj Mahal on sand in Brussels, the capital of Belgium. Although Patnaik has created Taj Mahal on sand several times in the past, this one draws huge crowd because of the importance of the fair at the community centre De Zandloper at Wemmel in Brussels.

Sudarshan Pattnaik created the 10 ft high and 15 ft wide four dimensional sand Taj Mahal with the theme 'Incredible India'. He took only 48 hours to create this unique masterpiece.

According to reports, nearly 40 tonnes of sand was transported from The Netherlands to create this beautiful sculpture. The huge crowd response to the Taj Mahal on sand, has encouraged the organizers to keep this monument on display for 10 more days.

British Press: Musharraf to quit in a few days

If we have to believe the British Press, Pakistan's President Pervez Musharraf had ran out of options after the victory of his rivals of Nawaz Sharif and Asif Ali Zardari in the recent polls and is contemplating for an early exit. The President does not want to see himself in an embarrassing situation if an impeachment motion is moved against him. Rather, he would prefer a graceful exit.

Never before in the past 6 years, Musharraf found himself so helpless in Pakistan. He ruled with iron hands and did everything he liked. But later, he had to bow to the continued pressure at home and abroad and cleared the way for democracy. A democratically elected government in Pakistan would signal the end of Musharraf's regime, sooner or later. This is imminent and cannot be averted.

Indian Davis Cup Team revolt against Leander Paes

India's Davis Cup team revolted against captain Leander Paes and wanted him to be sacked for undermining team spirit. The controversy erupted, when Paes did not field Prakash Amritraj for the opening singles against Uzbekistan. All India Tennis Association (AITA) Secretary Anil Khanna confirmed that he had received a signed letter from four players, including Mahesh Bhupathi.

Paes had accused Prakash Amritraj of lacking commitment, saying a stomach ailment before the tie was down to Amritraj's decision to attend a late party. Amritraj was not fielded despite insisting that he was fit to play. Finally, it was Prakash Amritraj, who won the decisive reverse singles match.

The four players who signed the letter were Mahesh Bhupathi, Prakash Amritraj, Rohan Bopanna and Karan Rastogi. They said they had lost confidence in Paes. The latest development would mar India's medal prospects in Beijing Olympics, as Leander and Mahesh had agreed to play together in the doubles tie for the last time.

Jungle Raj in Bihar: Mob thrashed murder accused in Police Presence

In a shocking incident, a violent mob dragged a murder accused from police custody and badly beat him up at Hajipur in Bihar. The victim is being treated at the Patna Medical College & Hospital and his condition is said to be critical. Ironically, the incident occurred in the presence of an ASI and four homeguard jawans.

The accused Ravi murdered his friend Om Praksh in a dispute over a cell phone. He was caught and assaulted by neighbours and then handed over to police. He was taken to hospital for a check up when the mob broke in and thrashed him, leaving the victim nearly dead. At least 15 people have been taken into custody so far. The erring ASI has been suspended. Also, recommendations have been made for terminating the services of the four homeguard jawans.

Commission to look into demands for HC Benches in Orissa

The Orissa government has decided to set up a one-member commission to look into the demands for permanent benches of Orissa High Court in Western and South Orissa. The lawyers in Berhampur and Sambalpur have been demanding to set up permanent benches of the High Court in their respective cities. Their demand has already taken the shape of large-scale agitation, which forced the government to take this decision.

The government'