Tuesday, September 24, 2013

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Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.

Mallya has said several times in the past that the company was in talks with potential investors, but the plans have not materialised so far.

Aadhaar's purpose in doubt as SC says it's not mandatory :-

The Supreme Court on Monday dealt a crippling blow to UPA's showpiece Aadhaar scheme by ruling that it can only be issued to those with proven Indian nationality and cannot be mandatory for accessing public services and subsidies.

"In the meanwhile, the Aadhaar card cannot be made mandatory. If anyone applies for Aadhaar card, then you have to verify whether he is a citizen of India or not. These cards cannot be issued to illegal migrants," said a bench of Justices B S Chauhan and S A Bobde as they frowned upon the unique identity numbers being issued without verifying the antecedents of individuals.

The move is a serious setback to the government's plans to transfer cash and subsidies directly into bank accounts of beneficiaries. Meeting the verification criterion laid down by the apex court could prove to be a tough task because only a small part of the population has proof of nationality such as a passport. That the Unique Identification Authority of India, an entity floated by UPA-2 for rolling out the ambitious Aadhaar scheme, is a lean body dependent on vendors only adds to the complication. The UIDAI enjoys no legal backing either.

Narendra Modi staging 'fake encounter' with facts: P Chidambaram:-

Chidambaram Monday said the prime ministerial candidate of opposition Bharatiya Janata Party, Gujarat Chief Minister Narendra Modi, is staging a “fake encounter with facts" while claiming about 8.4 percent growth during Atal Bihari Vajpayee-led government between 1998 and 2004.

Chidambaram also listed the break-up of yearly growth during the Vajyapee government as follows: In the financial year 1998-99, the gross domestic product (GDP) grew by 6.7 percent. Growth accelerated to 7.6 percent in 1999-2000. It slumped to 4.3 percent in 2000-01. For 2001-02, it was 5.5 percent; for 2002-03 it was 4 percent and in 2003-04 it rose to 8.1 percent.

"The two worst years since the turn of the century were 2000-01 (4.3 percent) and 2002-03 (4 percent)... there was a golden period of growth, it was the five-year period under UPA-I," Chidambaram said.

"Can Chidambaram explain why the growth rate today is 4.8 %? When growth rate in this period goes down they have all kinds of explanation on why it has gone down. And then they quote figures from our time to say that they have a better average," BJP leader Yashwant Sinha told reporters here

Sinha alleged that this statistical jugglery is being done by Chidambaram as the UPA government cannot compete on year-to-year basis with the NDA regime and hence is taking out averages.

"They are comparing nine years average with five years average of NDA," Sinha said, adding that when NDA came to power the growth rate was 4.8 % and when the BJP-led coalition relinquished office it was 8.6 %.

"Chidambaram is doing terrorism with facts.... He is only comparing on averages. This is only jugglery of figures," he said.

The former Finance Minister also maintained that while NDA had created 60 million jobs in five years, the UPA government has only provided 2.7 million jobs in nine years.

Sinha said, "Congress has reasons to be scared of Modi, so they don't miss any chance of doing it. The more they will target him the more it will help Modi."

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5852 should hold for upmove. Expiry is nearing