Saturday, March 24, 2012
Sikkimese Coinage and Turuk Kothi
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Rajen Upadhyaya
The Newars played a critical role to strengthen the Sikkimese economy during the 19th and 20th century. It is a knowing fact that, after receiving permission from the Sikkimpati Maharaja they started to mint coins in the name of the Sikkimese rulers. Those coins were known as Dheba Paisa and Cheptey Paisa. It is the Newars who are credited for the creation of the Sikkimese coins.
Until the rise of the Gurkhas in 1768, Nepalese coins were in circulation in Tibet and Bhutan. It’s not certain whether Newar coins were also in circulation in those days. But, the practice of receiving the Tibetan or Indian coins had never been objected to by the rulers of Sikkim; rather they used to accept revenues in these coins from the people residing in the border areas. (Aspect of Cultural History of Sikkim- Studies in Coinage, Pranab Kumar Bhattacharyya P.25).
Hridayendra Pradhan
Leaving aside the doubtful meanings of the terms Srang and Zho mentioned in the Old Sikkimese Law Book, the minting of the coins of Sikkim seems to have been started by the Newar tradesmen headed by Lacchmi Das Pradhan who were originally given contract for extacting copper from the mines. They were all known as Taksari meaning ‘owner of minting houses’. (ibidP.35)
Rorathang Copper Mine from where the Taksaris extracted Copper to mint Coins situated 17 Kms away from the South District Head Quarter Namchi the Turuk Kothi has many unique features. The most important among them is that it belongs to the first minter of Sikkim Lacchmi Das Pradhan. This edifice was constructed by him probably after receiving a Land Patta to extract copper from different parts of Sikkim.
The historical records of Sikkim provide information that the first Patta to the Nepalese was issued in 1868. Therefore, it is obvious that the Kothi was constructed after receiving the royal order to get a Patta in the name of Lacchmi Das Newar. In this sense, this edifice can be regarded as the oldest construction of Sikkim constructed for the residential purpose. Further, Lacchmi Das was also responsible for bringing the Nepali settlers from Nepal to Sikkim to cultivate the unproductive and barren lands of Sikkim.
Another historical importance of this house is that it had served as a District Head Quarter for many years. The earlier Taksaries later became the Rai Sahibs and served the Sikkimese monarchs as their subordinates. During a brief talk, Hridayendra Pradhan, a 7th descendent of Lachhmi Das Pradhan told me that the edifice also used to have a Settlement House then known as Kuccheri to settle the disputes among the subjects residing in their Estate. Further, the house also had a prison to punish the culprits. But, unfortunately due to the lack of maintenance the Settlement House and Kuccheri were demolished few years back.
Rorathang Copper Mine (Pic Credit: Sikkim History Hunter blog)
The most amazing aspect of the Kothi is that even after the lapse of nearly 142 years, the descendents of Lacchmi Das Pradhan are living in the same house which was constructed by their dynamic ancestors. The present resident of the Kothi, Mr. Hridayendra Pradhan told me that all the Sikkimese coins which were circulated during the 19th century were minted at the very same spot. For the minting of such coins they used to extract copper from Pacheykhani in East Sikkim and were brought to Turuk to accomplish the task of minting. On the obverse of Doley Paisa (a denomination of Rupee also known as Dheba Paisa or sometimes Dooba Paisa) they struck Shri Shri Shri Sikkim Sarkar in Nepali to give a distinct outlook from the Nepali coins.
But the coinage of Sikkim had a short life as it was unable to circulate itself in the Gurkha dominion of Nepal due the hurdles imposed on Sikkimese coins by them. To remove such restrictions the Newar traders of Sikkim made their representation to the Prime Minister of Nepal. But, all their efforts went futile as the Nepalese authorities rejected the petition of Newari traders on the ground that “The present pice (Paisa) coin of Sikkim issued to be lesser in weight then that of Nepal.”(ibid pp28-29).
The decision of the Nepali Government proved akin to a last nail on the coffin to the Sikkimese coinage. Though, the dream of the Newari traders to mint a distinct coin for Sikkim had an untimed demise, they occupied reputed chairs under Sikkimese monarchy to execute their services to the Sikkimese Crown and its Subjects.
The above post has been published on Rajen Upadhyaya’s blog
About the author:
Rajen Upadhyay from Namchi, Sikkim is an Assistant Professor of History in the Namchi Government College. A passionate reader and sports enthusiast Rajen is working to revive the History of Sikkim. You can read his blog sikkim-historyhunter
Rajen Upadhyay from Namchi, Sikkim is an Assistant Professor of History in the Namchi Government College. A passionate reader and sports enthusiast Rajen is working to revive the History of Sikkim. You can read his blog sikkim-historyhunter
Warning: Cheques, drafts to be valid only for 3 months from April 01
Mar 23, 8:16 PM
Cheques and bank drafts will be valid only for 3 months with effect from 1st April. The step taken by Reserve Bank of India, RBI, will help mitigate frauds related to such instruments.
The RBI has directed that with effect from April 1, 2012, banks should not make payments against cheques, drafts, pay orders or banker's cheques if they are presented after the period of three months from date of issue.
Bill seeking to give woman share in husband's property approved
Mar 23, 9:4 PM
The Union Cabinet chaired by the Prime Minister Dr. Manmohan Singh on Friday approved a Bill seeking to give a woman a share in her husband's property . Apart from giving women the right to their husband's property, the Marriage Laws (Amendment) Bill, 2010, also aims at giving rights to adopted children on par with biological off-springs.
The Marriage Laws (Amendment) Bill, 2010, was introduced in the Rajya Sabha two years ago and then referred to the Parliamentary Standing Committee on Law and Justice and Personnel.
The government has also accepted the recommendation of the parliamentary committee that women should have a share in the property of her husband in case of a divorce but the quantum of share will be decided by the courts on case-by-case basis
| Factor | Titan | Gitanjali Gems | Shree Ganesh Jewellery House |
| Revenues - All Businesses | Rs 65.7 bn | Rs 51.2 bn | Rs 52.4 bn |
| Revenues - Jewellery Business | Rs 50.5 bn | Rs 51.2 bn | Rs 52.4 bn |
| Diversification - Jewellery % Total Revenues | 77% | 100% | 100% |
| Number of Brands | 3 | 7 | 8 |
| Raw Materials | Gold - 85% of Raw Mat'l Costs | Diamonds, Semi and fully precious stones - 89% | Gold - 85% of Raw Mat'l Costs |
| Debtor Days | 6 | 140 | 59 |
| Potential of other businesses | High - Accessories, Watches, Time Wear, Eye Wear | Medium - Lifestyle retailing | None |
16,900 MW SOLAR POWER FUTURE IN RAJASTHAN
| Company name | Location | Capacity (MW) |
| Lanco Infratech | Rajasthan | 100 |
| KVK Energy Ventures | Rajasthan | 100 |
| Megha Engineering | Andhra Pradesh | 50 |
| Rajasthan Sun Technique | Rajasthan | 100 |
| Azure Power | Rajasthan | 40 |
| Welspun Solar | Rajasthan/Andhra Pradesh | 55 |
| Corporate Ispat Alloys | Rajasthan | 50 |
Rajasthan and Gujarat have attracted the largest investments as their geography and climate are conducive for solar energy radiation. Out of a total 1100 MW new project allocations, Rajasthan received a lion's share of 80% through competitive bidding in the first phase of JNNSM. Furthermore, 722 reputed companies in Rajasthan have shown interest for setting up of solar power plants amounting to a total capacity of 16,900 MW in the state.
'Majority of Indians keen to work abroad'
by BS Reporter / Mumbai
The majority of younger employees are keen on seeking jobs abroad, according to the latest findings of Ma Foi Randstad Workmonitor Survey 2011-Wave4. India, with an index of 144, tops the global mobility index, followed by Brazil (129) and China (125), meaning more and more Indians wish to go to foreign nations for employment.
The survey, a quarterly review of the 'mental mobility status' of employees further said 39 per cent of employees with low education levels would move abroad just for a better suited job that doesn’t come with a pay rise. A significantly larger proportion of employees with higher education levels (60 per cent) were willing to move abroad for a better suited job even if the salary remained the same. Men (79 per cent) outnumber women (65 per cent) in the expectation of going abroad for work that promises higher pay.
Among Indians, 45 per cent of the workforce believed in a focus on promotion and 34 per cent believed in doing something different. This trend was consistent among all workgroups, based on income, location, gender, type of employment and such others.
Surprisingly, the survey said 2011 was considered a good year financially by people across the four metro locations of Mumbai, Delhi, Bangalore and Kolkata. The finding suggests those with annual salaries above Rs 10,00,000 aspired for higher financial performance for their organisations. Those in lower income groups felt their organisation did well financially in 2011.
E Balaji, managing director of Ma Foi Randstad, said, “Burgeoning opportunities have created a major change in the mindset of young employees. While money is an important driver for Gen Y, they are also driven by work place flexibility, the right culture, challenging work roles, career growth opportunities and bosses with an inspirational approach towards work. Companies should re-orient their work culture to address employee needs, to succeed in the emerging war for talent, which will be key to retain their position in the marketplace.”
The survey found no slowing of job mobility intent in the Indian subcontinent. The mobility index was least in Luxembourg, with Germany and Italy next, indicating least employee churn.
The global survey gives a mixed picture for employee outlook in 2012. In most countries round the globe, employees feel slightly positive about 2012. In 18 of 30 countries surveyed, respondents felt their employer was entering a better year financially, compared to 2011.
In addition, employees in most nations believed their salary did not reflect their performance. This was as high as 81 per cent in Greece and 79 per cent in Poland and Hungary. A little more than 80 per cent of employees in Argentina, Brazil, Chile, China, India and Mexico expect a pay rise and bonus. The numbers in India were found to be highest (83 per cent) among temporary staff.
Friday, March 23, 2012
Where there is a will…
by G. KARTHIKEYAN
It was during the recent visit to USA, that I came across a shocking situation. A middle-aged couple from Gujarat, who were relatives of my client, had recently passed away in a tragic car crash.
They had moved from India and settled in USA almost a decade ago for a software job, and both of their children are natural US-born citizens. The grandparents hurried to USA and took care of all formalities, including the funeral and last rites.
When the time came to claim the children and arrange for them to return to India, they were in for a shock — the US Government had placed the kids in foster care already.
Further enquiries revealed that only a court of law could decide if the children remained in foster care or went with the grandparents, because the parents hadn't written a will designating a guardian for the children, in the event of something happening to both of them.
The fact that the children lost both their parents in a horrifying accident was tragic enough, but making the matter worse was the fact that the parents died intestate, and thus, the custody of the children became an issue for the courts to decide.
Yes, sadly enough, if a person dies intestate in USA, and has young children, and the remaining parent is also deceased or unavailable, the courts will determine who gets custody of the children.
What a tragic situation for the children to be in! Coping with losing both parents is bad enough, without the added trauma of settling into a foster home and adjusting to an alien culture until the court can make up its mind on where they should go, and who should care for them.
LEGAL DECLARATION
Undoubtedly, social systems differ from country to country. Foster care is a common procedure in USA, but alien to Indian culture. While we aren't judging the correctness of foreign social rules, one cannot help thinking that a simple thing like a will could have made a lot of difference to those kids. Eventually, the court did grant the grandparents' custody of those children, with the intervention of the Indian Embassy, but a will could have prevented a long wait, and astronomical legal expenses.
A will is a simple enough legal declaration, by which a person provides for the transfer of his/her property at death. Perhaps, because of its association with death, it is a document that most people postpone drawing up, especially in India.
Due to its association with death, it is considered inauspicious. However, not drawing up a will these days is more inauspicious. If someone dies intestate in India, something as simple as transfer of a phone line or an LPG connection requires that the nominee prove he/she is a legal heir of the deceased in addition to getting letters from the remaining legal heirs. People also desist from discussing this issue with their parents, in view of their sentiments and the inauspicious tag attached to a will.
ASSETS FOR THE FUTURE
Unless the older generation, for some reason, seeks professional advice and comes across a professional consultant who provides the right advice, they don't foresee such issues, and are, therefore, blissfully ignorant of them. In their belief that they are leaving assets for their children, and that they have provided for the prosperity of the family, they unknowingly leave behind many a legal tangle. A will has the legal acceptance, even if the Testator (who writes the will) writes on a white paper with no formal style, with two witnesses, and which is ambulatory & revocable during his lifetime to accommodate change of events such as birth, marriage, divorce, family chemistry, wealth variation etc.
‘Where there is a will there is a way' goes an old English adage. Someone made a witticism out of it and turned it around to state ‘Where there is a will… there are many worried relatives' To top it all, however, where there is no will… there are umpteen legal hassles.
(The author is a Coimbatore-based chartered accountant.)
China 'warns' India with border drill
bY Rajat Pandit & Saibal Dasgupta, TNN | Mar 23, 2012, 03.43AM IST
.NEW DELHI\BEIJING: China is back to flexing its muscles close to the Indian border. The People's Liberation Army has conducted a major "live fire" exercise, testing its multi-role J-10 fighters armed with laser-guided and other bombs, in the high-altitude Qinghai-Tibet Plateau.
Chinese official media on Thursday described the exercise as "the first operation of its kind" on the 3,500-metre high plateau, which saw the fighter jets being fuelled and loaded with bombs for ground attack missions during sub-zero temperatures.
The rare publicity given to the exercise comes at a time when China is getting ready for a change of guard, including the election of a new president and secretary general of the Communist Party.
It's also meant as a strong signal to India, which has belatedly taken to strategically counter China's massive build-up of military infrastructure all along the 4,057-km Line of Actual Control over the last two decades.
This is, of course, not the first time PLA has undertaken combat exercises in the Tibet Autonomous Region (TAR), having tested its Sukhoi-27UBK and Sukhoi-30MKK fighters as well as rapid reaction forces and airborne corps there over the last two-three years.
But China-watchers in the Indian defence establishment say the latest exercise, with fighters conducting both day and night sorties, seems to be "several rungs higher" than the ones conducted in the past. It comes barely five months after another major PLA exercise, involving air force, tanks and artillery, was held in the region.
"China usually deploys fighters in TAR only during summers from March onwards because of the thin air and tough operating conditions there. But last year for the first time, PLA kept the J-10 jets deployed at Gongar (Lhasa) throughout the winter," said a senior officer.
China, apart from nuclear missile bases in Qinghai province that unmistakably target India, has built five fully operational airbases at Gongar, Pangta, Linchi, Hoping and Gar Gunsa, an extensive rail network and over 58,000-km of roads in TAR.
This makes it possible for PLA to move around 30 divisions (each with over 15,000 soldiers) to the LAC within 30 days to outnumber Indian forces by at least three-is-to-one. The Chengdu military region and the PLA airbases in TAR are mainly tasked for an anti-India role, as earlier reported by TOI.
India, in turn, has based its most potent fighters Sukhoi-30MKIs, which can go deep into China, at Tezpur and Chabua in Assam, apart from planning to deploy six C-130J "Super Hercules" strategic airlift aircraft in the eastern sector.
"We have a slight advantage over China in the sense that its TAR airbases are located at an average height of 10,000 to 12,000-feet. This restricts the weapon loads their Sukhois and J-10s can carry. PLA Air Force, of course, is almost triple our size" said an IAF officer.
India is also now upgrading eastern sector ALGs (advanced landing grounds) like Pasighat, Mechuka, Walong, Tuting, Ziro and Vijaynagar as well as several helipads in Arunachal Pradesh. This comes after the reactivation of western sector ALGs like Daulat Beg Oldi, Fukche and Nyama in eastern Ladakh.
Moreover, Army is now planning a mountain strike corps (70,000 soldiers) after raising two new mountain infantry divisions, with 1,260 officers and 35,011 soldiers, in Assam and Nagaland. There are also plans to base Akash and BrahMos missile regiments in the North-East for conventional deterrence against China.
Thursday, March 22, 2012
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| National Law for Welfare of Senior Citizens |
| The Maintenance and Welfare of Parents and Senior Citizens Act, 2007 was enacted on 31st December 2007. The Act makes maintenance of parents/senior citizens by children/ relatives obligatory and justiciable through Tribunals and provides for revocation of transfer of property by senior citizens in case of negligence by relatives, penal provision for abandonment of senior citizens, establishment of Old Age Homes for Indigent Senior Citizens and medical care and security for Senior Citizens. This information was given by the Minister of State for Social Justice and Empowerment, Shri D. Napoleon in a written reply to a question in Rajya Sabha today. |
Is China Edging Towards Political and Economic Uncertainty?
By R S Kalha
March 20, 2012
March 20, 2012
While most politicians in India are quick to point fingers at the UPA government for economic policy paralysis, the situation across the border in neighbouring China is not exactly a bed of roses either. Premier Wen Jiabao recently informed the National People’s Congress [NPC] that China’s GDP growth is likely to come down to between an estimated 7.5 and 8 per cent. This revelation highlighted the fact that for the first time in recent memory, the February 2012 figures for exports from China showed a dramatic fall. It is possible that this may be due to the Chinese New Year, which falls in February and during when factories traditionally close down for the holidays. As China’s development story is based mainly on export-led growth, the February export figures are indeed a cause for concern.
The reasons for China’s declining exports are not far to seek. China’s main export markets are the US, the EU and Japan. The problem is that these economies are stagnating with no upsurge in sight and therefore can no longer be expected to be counted as reliable and sustainable sources of external demand. As a Bank of China economist, Zhen Feng, admitted, ‘Chinese exports face huge pressure and growth will slow down next year’. At the same time there is idle capacity, weak consumption, higher prices for essential raw materials, coupled with rising food prices and wages. It is estimated that unsold inventories in Chinese factories amount to nearly US$50 billion. Some of these maladies can be attributed to the stupendous state spending when the stimulus package of $585 billion was authorised in November 2008 to tide over the financial crisis that hit mainly the capitalist west. On a recent visit to Beijing, even the IMF Chief Lagarde highlighted the fact that China needs to take a second look and move from concentrating on exports to reviving domestic demand.
However, the Chinese property market is suffering a down turn too. There has been a sharp drop of 20 per cent in residential property prices and the retail and car sales figures are disappointing as well. The good news is that inflation figures are still low and this has given the authorities the leeway to cut interest rates in order to stimulate demand. As China’s export opportunities reduce, the authorities will have to think in terms of stimulating domestic demand. The Chinese leadership is aware of this anomaly and have publicly spoken about undertaking serious reforms, but the question is whether they are united behind such economic measures?
Increasing economic woes are having an effect on China’s domestic stability. Already one of the leading contenders for the leadership in the future Bo Xilai, the Party Chief of Chongqing, has been sacked and replaced. This will undoubtedly have repercussions on the forthcoming 18th Party Congress to be held later this year, where leadership changes are expected to be announced. It is a moot point whether this is the first shot fired in the power struggle that is bound to happen. Bo was known for advocating hard-line positions and is reported to have called for a ‘red revival’. Bo, a genuinely charismatic leader probably the first since Deng, would certainly have been a candidate for membership of the Politbureau. His sacking ushered about 1.7 million hits on the Chinese social network Weibo, thereby indicating his popularity. Bo is also a ‘princeling’; his father Bo Yibo was one of China’s outstanding politicians who was purged by Mao during the Cultural Revolution. Significantly, Bo could only be safely replaced by another ‘princeling’ Zhang Dejiang, whose father was a former PLA general.
In recent days there have been reports of significant internal unrest. Uighars in Xinjiang [Sinkiang] are in ferment. Apart from the rising number of self immolations undertaken by Tibetans that is likely to inflame Han-Minority relations, there have also been an increasing number of riots as corrupt officials try to seize valuable land from farmers particularly in the fast growing coastal areas. Most of the land thus taken is for development of shopping malls and high-end residential buildings in which profits for local officials are enormous. Those who lose their land are paid a pittance in compensation. In addition there are also about 200 million internal migrants eking out a living in metropolitan towns. Most of them are denied health care benefits as well as educational facilities at par with those who are the original inhabitants. Corruption is an issue in China and no matter how harsh the repression it refuses to die down.
Thus as China heads towards leadership changes which would take place after the 18th Party Congress, there is uncertainty both as regards economic policy as well as internal dissidence. What policy China will eventually follow would only be known later, but the fierce political power struggles and economic policy clashes that will take place would occur behind the facade of the Communist Party of China. Its deliberations are routinely secret, but sufficient leaks do take place that indicate how the ‘struggle’ went. The ‘bamboo curtain’ is sometimes surprisingly leaky. As China is the world’s second largest economy, the world watches with bated breath the final outcome.
source:IDSA Comment
| Helicopter Services in North East Region |
| Pawan Hans Helicopters Ltd has provided helicopters on long term
lease to Governments of Sikkim and Tripura in the North East Reagion. The
regular passenger services are being run under the aegis of the respective State
Governments. This information was given by Ch. Ajit Singh, the Minister of Civil
Aviation in Lok Sabha today in a written reply. The Minister further informed that the passenger services are being run for connective Sikkim-Bagdogra-Sikkim and also being utilized for charter services by the State Government in Sikkim. In Tripura the helicopter services are being utilized for passenger services connective Agartala, Dharmanagar, Kallsshaar etc. The Minister further said that as per DGCA stipulations the helicopters can be continued in operation provided the helicopters are maintained in accordance with the manufacturers maintenance programme approved by DGCA. SP/ska (Release ID :81377) |
Wednesday, March 21, 2012
Why Has India Become the World’s Top Arms Buyer?
By Hari Kumar Source: India Ink
Manish Swarup/Associated
PressDefense Minister A.K. Antony poses with senior
defense officials, in front of a Mi-17 V5 military utility transport helicopter
from Russia, in New Delhi, Feb. 17, 2012.
India has replaced China as the world’s largest arms buyer, accounting for 10 percent of all arms purchases during the past five years, a Swedish research group said.
India purchased some $12.7 billion in arms, 80 percent of that from Russia, during 2007-2011, according to the Stockholm International Peace Research Institute (SIPRI). China’s arms purchases during that time were $6.3 billion, 78 percent of which came from Russia.
India has tried, but failed, to create a sizable domestic manufacturing industry for weapons or even basic military goods, while China has increased production of defense supplies. About 75 percent of India’s weapons purchases came from imports during 2007-11, said Laxman Kumar Behra of the Institute of Defense Studies and Analysis, a government-funded research organization.
Some analysts in India attribute the failure to create a domestic defense industry to government involvement. “India’s public sector is very inefficient and the private sector is by and large kept out of arms production,” Mr. Behra said.
“We lack long-term vision,” and a culture of research and development, Mr. Behra said. “The government keeps on forming one committee after the other but there is hardly any implementation” of the committee’s recommendations, he said.
In a recent article in The Economic Times, Uday Bhaskar, a retired commodore and leading strategic analyst, also criticized India’s weapons procurement policy.
“More than 60 years after becoming a republic and 50 years after the debacle with China, the opaque Indian defense production establishment does not produce high quality clothing and personal inventory items like boots, let alone a suitable rifle for a one million army, or tanks and aircraft.”
Russia, the world’s No. 2 weapons supplier in recent years after the United States, sold $7.8 billion in defense supplies in 2011, and $40.8 billion from 2005 to 2011. India bought about one-third of the supplies.
India’s dependence on Russia is a holdover from the Cold War era, when the two were close allies.
South Korea was the second-largest arms importer from 2007 to 2011, with $7 billion in purchases. Pakistan and China followed, each accounting for about 5 percent of the world’s total arms import during the five-year period, SIPRI said.
India’s import of major weapons increased by 38 percent from the 2002-2006 period to the 2007-2011 period. India’s main acquisitions over the past five years were 120 Sukhoi and 16 MiG-29 jet fighter aircraft from Russia and 20 Anglo-French Jaguar fighters.
India recently finalized a deal for 126 multi-role fighter aircraft with French defense contractor Rafael, in a deal worth $10 billion.
Gold 32000 10 gms &
Copper 425 per kg in year 2012 -Astromoneyguru
Wishing a very happy New Year 2012
.According to Lt Col Ajay CEO www.astromoneyguru.com Year 2012 is represented by Planet
known as Mercury. As per astro economics Mercury is the planet of volatility and
uncertainty. It ‘s remain close to king of all planet Sun There should be
highest volatility in Currencies and bullion market at International spot and
future market during year 2012. World stock market may also see 12% to 20%
annual return from stock market. US Economy will be shown sign of improvement
while Europe will remain under pressure. Indian economy will perform netter the
Year 2012. It is better to go with selected sector and stocks and timely profit
booking is strongly recommended in stock market. Please go through my advance
predictions for year 2011 made different electronic and print media at global
levels. I have predicated about silver would be commodity of year 2011, Great
vertical upward movement was seen in silver around 76000 per kg levels was seen
in electronic trading in India. Tension in Pakistan, Middle East and UK were
also proved correct as predicted. Euro also seen vertical fall against us dollar
as predicted. Hope readers must have enjoyed big profit in currency, commodity
and stock market. I convey my sincere thanks to all my readers for thousand of
e mail and telephonic calls. about Crude oil, copper ,bullion ,geo political
tension etc of course Stock market sensex could not achieved desired targets
while silver , copper and selected stocks were over run from given targets.
Remember this is only astro economics can give you advance predictions with
creating confusion and dual language. Now as per stars following predictions on
stock, commodities and currency are as under
1-Geo-political
tensions – First quarter of New Year 2012 may develop Geo political
tension in Afgnisthan, Pakistan, United Kingdom and other Asian countries.
Difficult timing around February 2012. Key planets of India are Venus and
Saturn. During February 2011 Saturn will turn retrograded with Mars. This is
important astrological events for Middle East, and Asia since Saturn, Mars, Sun
and Mercury are making special astrological yoga which may bring tension at
Global levels. Year 2012 will be very important for India and Asia since as per
star India will play major role in world politics with help of USA and
Japan. Indian
Stock market- As per astro economics Sensex of
Indian stock market may see upward movement and expected to give you 15% to 20%
annual return from lower levels. By end of February –and middle of March 2012
Indian stock market will see great upward movement thereafter profit booking
expected. It is important to note that every quarter all the sectors will not
perform equally good or bad in Stock market. Like first quarter of year 2012 is
dedicated for oil & gas, metal, cement, fertilizer, railways and engineering
stocks. Right now great confusions and uncertainty in world stock market are
seen Indian stock market is one of the worst performers in world equity market.
Indian currency Rupee is also seen vertical fall against US dollar. Indian rupee
is seen between Rs 54 to 56 against one US dollar in month of December 2011. Now
big question about Indian economy and strength of Indian currency in
International currency market. As per stars Indian economy is robust and Indian
capital market is the one of the safest destination for investment. Investors
need to have patience and trust on steady growth of the Indian economy. Now year
2012 will be dedicated to agriculture and banking reforms. Indian government is
expected to show interest in de-investment in certain public sector unites.
Indian stock market is expected between 19000 to 20200 levels during year 2012.
Traders need to focus on Tata steel, SAIL, Cairn India, Kalandee Rail, National
fertilizer, sterlite Industries, Tata Motors, Mahindra & Mahindra, for the
first quarter of year 2012. It is important to note timely profit booking is
mandatory in stock market under uncertainty. I am very confident for Indian
economy and capital market. Right now golden apporunity for foreign investors to
invest in India stocks, they will get benefit of Rupee depreciation and stock
available at lower levels.
2-Bullion – Gold will
be the safest investment for year 2012. Gold is expected to give around 30%
annual return if invested right now. Right now Gold is trading around US$1600
this is perfect levels for Investment for one year for around 30% annual return
on investment. Silver is also good investment for year 2012. As per stars Silver
may give you 20% to 25% annual return in commodities market. As per stars silver
may show upward move in spot and electronic trading at International and
domestic bullion market.2-3 Year target for silver should be Rs 100,000 per kg
3- Crude oil likely to see great upward
movement. Upper levels of crude oil should be between USD 105 to 111 in
international electronic trading. Profit booking in crude oil likely to see by
mid of February 2012. Timely profit booking is strongly recommended in commodity
market
4- Copper is also expected to give
around 15% gain in spot and electronic trading in commodity market. Copper may
see above Rs 422 levels during year 2012 in electronic trading
5- Euro may see some recovery against US
dollars but US dollar remain dominate world currency market. Some Asian currency
will also gain height
6-GDP growth of India
is expected to between 7.5% to 8.5 during year 2012-13
7-Indian economy - A very special revolutions is expected during 2012 to 2013- in field Agriculture, banking, insurance, health care, energy sectors. Astro-Economics says that India is going to bring great revolutions in field of Power, infrastructure, educations, Technical educations, health, Sports etc Indian economy will perform better in Technical educations, power, infrastructure, telecommunication etc.
8-Most benefited state of India- Rajasthan , west Bengal Bihar, Gujarat and Tamil Nadu, are in top of list for best benefited state of India during year 2012
9-During year 20012-13 there are great chances that Indian and Chinese currencies may turn important currency in world currency club . Indian currency rupee may show strength against US dollar expected levels for Indian rupee would be below Rs 49 -45 against one us dollar.
7-Indian economy - A very special revolutions is expected during 2012 to 2013- in field Agriculture, banking, insurance, health care, energy sectors. Astro-Economics says that India is going to bring great revolutions in field of Power, infrastructure, educations, Technical educations, health, Sports etc Indian economy will perform better in Technical educations, power, infrastructure, telecommunication etc.
8-Most benefited state of India- Rajasthan , west Bengal Bihar, Gujarat and Tamil Nadu, are in top of list for best benefited state of India during year 2012
9-During year 20012-13 there are great chances that Indian and Chinese currencies may turn important currency in world currency club . Indian currency rupee may show strength against US dollar expected levels for Indian rupee would be below Rs 49 -45 against one us dollar.
10-Indian writer or scientist is
expected to earn name and fame at world levels. Indian electronic media may
launch world services during 2012-13
11- Political seen- As per stars There
should not be any problem for Congress (I). There will be some difficulties but
with help of stars all problem will be solve. Some senior Congress leader may
face problem during 2012
12-The above advance predictions are made base on study of stars, and numerology
12-The above advance predictions are made base on study of stars, and numerology
Col Ajay (Astromoneyguru)
www.astromoneyguru.com
Budget 2013 to impact negatively Sun Pharma, Cadila In Sikkim
source: the economic times
NEW DELHI: Negatives outweigh positives in the Union Budget
2013 for the pharmaceutical sector as increase in basic tax structure will
materially impact the performance of a few players in the sector, Sharekhan said in a report.
The proposal of the Union Budget 2013 to increase the basic excise duty and extend the applicability of alternate minimum tax (AMT) to units controlled by partnerships under certain conditions are some of the key provisions which would materially impact the performance of a few players in the pharmaceutical (pharma) sector.
The provisions related to weighted deduction of 200% for in-house research and development (R&D) expenditure have been extended for another five years.
A higher allocation of funds for building infrastructure in rural areas and concession in customs duty on import of medical devices including raw materials for medical devices are some of the key bounty for the sector.
Sun Pharma and Cadila Healthcare to take steeper impact among peers: These proposals are set to increase the tax burden for companies like Sun Pharmaceutical Industries (Sun Pharma; 59% contribution of profits from partnership-based undertakings), Cadila Healthcare (58% of profits being contributed by partnered undertakings) and Torrent Pharmaceuticals (Torrent Pharma; undisclosed profit from partnership based undertakings), as they have manufacturing units in Sikkim which are being controlled by partnership firms floated to by-pass taxation meant for only companies.
Sharekhan revises earnings estimates, target prices for Sun Pharma, Cadila Healthcare and Torrent Pharma to factor the new provisions proposed in the budget, which would lead to an incurrence of a higher effective tax rate for the mentioned companies.
Accordingly, Sharekhan has revised downwards the earnings estimate for Sun Pharma by 10% and 9% for FY2013 and FY2014 respectively while Cadila Healthcare's earnings estimates have been reduced by 5% and 6% for FY2013 and FY2014 respectively.
Torrent Pharma, which started its partnership based manufacturing units in FY2011, is likely to have a marginal impact of 2-3% in FY2013 and FY2014 assuming a 25% contribution to consolidated profits from its partnership firm based in Sikkim.
The proposal of the Union Budget 2013 to increase the basic excise duty and extend the applicability of alternate minimum tax (AMT) to units controlled by partnerships under certain conditions are some of the key provisions which would materially impact the performance of a few players in the pharmaceutical (pharma) sector.
The provisions related to weighted deduction of 200% for in-house research and development (R&D) expenditure have been extended for another five years.
A higher allocation of funds for building infrastructure in rural areas and concession in customs duty on import of medical devices including raw materials for medical devices are some of the key bounty for the sector.
Sun Pharma and Cadila Healthcare to take steeper impact among peers: These proposals are set to increase the tax burden for companies like Sun Pharmaceutical Industries (Sun Pharma; 59% contribution of profits from partnership-based undertakings), Cadila Healthcare (58% of profits being contributed by partnered undertakings) and Torrent Pharmaceuticals (Torrent Pharma; undisclosed profit from partnership based undertakings), as they have manufacturing units in Sikkim which are being controlled by partnership firms floated to by-pass taxation meant for only companies.
Sharekhan revises earnings estimates, target prices for Sun Pharma, Cadila Healthcare and Torrent Pharma to factor the new provisions proposed in the budget, which would lead to an incurrence of a higher effective tax rate for the mentioned companies.
Accordingly, Sharekhan has revised downwards the earnings estimate for Sun Pharma by 10% and 9% for FY2013 and FY2014 respectively while Cadila Healthcare's earnings estimates have been reduced by 5% and 6% for FY2013 and FY2014 respectively.
Torrent Pharma, which started its partnership based manufacturing units in FY2011, is likely to have a marginal impact of 2-3% in FY2013 and FY2014 assuming a 25% contribution to consolidated profits from its partnership firm based in Sikkim.
Tuesday, March 20, 2012
Banking, pension Bills will be taken up in Budget session: Pranab
Business Line The
Finance Minister, Mr Pranab Mukherjee (left), with the RBI Governor, Dr D
Subbarao, and the Finance Secretary, Mr R. S. Gujral, at the post-Budget meeting
with Directors of the Central Board of the Reserve Bank of India in the Capital
on Monday. — Photo: Ramesh Sharma
New Delhi, March 19:
The Finance Minister, Mr Pranab Mukherjee, said that crucial
pieces of legislation such as the Direct Taxes Code, the Bill for creating a
pensions regulator and banking reforms are likely to be taken up for
consideration and passage during the second leg of the current Budget session.
Mr Mukherjee also hinted at hiking diesel and cooking gas (LPG)
prices after the Budget session
Addressing newspersons after the post-Budget board meeting of the
Reserve Bank of India, Mr Mukherjee said, “After the Budget session of
Parliament is over, I shall discuss with various State governments, Chief
Ministers, leaders of political parties and try to work out an overall mechanism
through which we will be able to deal with some of the crucial issues for which
the collective support of all stakeholders are called for.”
He was replying in response to a query on what steps were being
taken to contain fuel subsidy, following hardening global oil prices.
Mr Mukherjee also said that the Government aims to bring those
pieces of legislation where the Standing Committee on Finance has given its
reports, for consideration and passage during the second leg of the Budget
session starting April 24.
The Committee has given its report on, among others, the Direct
Taxes Code, the Pension Bill, the Insurance Bill and the Banking Bill.
He has also requested the Chairman of the Standing Committee, Mr
Yashwant Sinha, to give a report on the Constitutional Amendment for the
introduction of the Goods and Services Tax during the monsoon session.
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