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Major News and Events of 09 October 2012

What Happened on 09 October 2012

Jairam Ramesh to speak to Jan Satyagraha activists on October 11

Jairam Ramesh, the Union Rural Development Minister, has revealed that the national administration is on its way to come to an understanding with the activists of Jan Satyagraha who have several demands such as lands for ones without shelters. The meeting is said to take place in Agra. After the second round of talks with the activists, the minister has stated that they are viewing the demands of Ekta Parishad in a constructive manner and a substantial amount of discussion has happened over them. He reiterated his pleasure at the fact that an agreement was being reached.

A Jan Satyagraha activist, Sharad Chandra Behar, is hopeful of good things happening even as the details are worked out. The Jan Satyagraha Yatra, where almost 35 thousand people had taken part, was initiated on October 2 from Gwalior and is expected to get to Delhi on October 28 provided there is zero agreement with the center. At present the Yatra is near Agra. The activists have also demanded that fast track courts be set up for land cases, a proper policy for land reforms, and the poor should have agricultural land. Ramesh had gone with Jyotiraditya Scindia, the Minister of State for Industry and Commerce, to Gwalior in order to interact with the activists.

Kejriwal accuses nexus of Haryana, Vadra, and DLF

Arvind Kejriwal has brought out documents that supposedly point to a connection between the Haryana government, Robert Vadra, and DLF. The new set of accusations has met with vehement denials from DLF and Haryana government but Vadra has opted to stay mum. Kejriwal has asked for white papers of the transactions between DLF and Haryana government and stated that the allegations are sufficient for the IT department to carry out a raid at Vadra’s house with Congress reiterating its stance that the activist is looking for some cheap fame. BJP has meanwhile demanded that there be a detailed inquiry into the allegations.

DLF, on its part, has stated that Kejriwal is trying to make the charges appear sensational. The IAC leader has meanwhile stated that a Special Investigation Team headed by a former Supreme Court judge should look into the situation and has also asked for a FIR against Vadra. Kejriwal also stated that Haryana government were also hauled up by the Punjab and Haryana High Court and criticized P Chidambaram for supporting Vadra. The spokesperson of Congress, Rashid Alvi, has questioned the veracity of the documents being used as evidence by Kejriwal. Basudeb Acharia, a CPI-M leader, has also asked for a probe to be initiated by Congress against Vadra,

Reliance's KG-D6 fields may be shut down

Officers in the petroleum ministry have stated that the leading gas producing fields at the KG-D6 block owned by Reliance Industries in the Bay of Bengal may be shut down in the near future. GC Chaturvedi has stated that it is possible in the coming 5 years the biggest gas fields of India could come to an end as is evident from their reduced productivity. Reliance Industries Ltd (RIL) and its associate BP PLC have that if some of the 7 walls that have been affected by sand and water openings are not repaired then the production at KG-D6 will keep coming down. Geological problems are also hampering their overall output.

While speaking at the yearly Economic Editors’ Conference at New Delhi S Jaipal Reddy has stated that the government is not convinced about the geological issues and investigations are on regarding the matter. Chaturvedi has revealed that certain resolutions pertaining to yearly investments in the said field are yet to be signed owing to several issues.

Sovereign guarantee from Indian government for bonds issued by Air India

The finance ministry, on behalf of the national government, is providing the sovereign guarantee for the non convertible debentures (NCDs) worth INR 7400 crore being issued by Air India according to a statement provided by the national carrier. The earnings from the NCDs will be used to pay back the short term loans for working capital taken from a group of 19 banks. The NCDs are supposed to have term periods of 19 years.

With this step the carrier will be able to save approximately INR 900 crores per year on interest payment. The NCDs are supposed to be provided within 2-3 weeks after the government guarantee is received. The airline will be using provident funds, financial entities, pension funds, and employee provident fund organization to market its products. This decision is part of the financial restructuring and turnaround plans of the carrier. Air India will be repaying its debts through a combination of long term payments and bonds guaranteed by government.

Indian players defeated at Tashkent Open

Indian tennis stars Yuki Bhambri, Sanam Singh, and Vishnu Vardhan have been defeated in the first round of the Tashkent ATP Challenger. The 125 thousand dollar event is being played at the Olympic Tennis School. Yuki was defeated in straight sets by Slovakian Karol Beck, who is the eighth seed at the tournament. Vishnu Vardhan met with the same fate in a similar manner in his match against Igor Kunitsyn from Russia.

Sanam Singh was defeated by fellow qualifier Oleksandr Nedovyesov in straight sets as well with the score line reading 6-0, 6-4 thanks to some fantastic performance from the winner. India performed a wee bit better in the doubles with Divij Sharan and Yuki taking the third seeded pair of Andre Begemann and Martin Emmrich from Germany to the wire in both the sets but were still defeated in straight sets.

Girls are better lovers than men says Shah Rukh Khan

Shah Rukh Khan, a prominent actor in romantic films churned out by Bollywood, has stated that women have a superior understanding of the concept of love compared to men. According to him love is a simple feeling and needs to be kept private. He made the comments while promoting his latest film Jab Tak Hai Jaan. The film has been directed by Yash Chopra and also stars Katrina Kaif and Anushka Sharma as the leading ladies. The actor says that he has not participated in such a romantic film for a substantial period of time. He feels that Yash Chopra, with whom he has done films like Veer Zaara, Mohabbatein, and Dil To Pagal Hai, is one of the finest directors in this genre.

As per Shah Rukh Khan, love is a subjective phenomenon, interpreted and named in different ways by various people, He has been in the industry for a couple of decades and states he would never like to be anything else than an actor. He states that the audience has been kind with him and that he has been fortunate to win more adulation than what he thinks he deserves.

CITI emphasizes on use of technology for greater productivity

The Confederation of Indian Textile Industry (CITI) has firmly suggested that technology be used extensively to get a solution for the problems related to cotton production in the country. It is being stated that technology can be used for developing seeds and managing plants – these are integral areas when it comes to the cotton farming sector.

It is also necessary to provide the cotton farmers proper bank credit and this needs to be done at convenient rates so that farmers can use the latest technology and better their productivity and also increase their income by farming cotton. In recent years Bt seeds have been effective in countering American bollworm and this has led to a phenomenal increase in production but technology can be just as effective in countering other types of pests as well as critical issues and ultimately help in unprecedented increase in India’s cotton production.

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