my voice

Un-fair price hike on Lipton tea bags by Hindustan Unilever Limited?

2011-05-06T06:17:00.000-07:00

This has reference to the latest hike in the rates for the Lipton Green Tea (20 tea bags packet). The rate as on 01/2011 was Rs. 30.00 (Code no. UCGPR06A). The rate is hiked to Rs.50.00 as on 02/2011 (Code No. UCGPR04A). The increase is over 60%! The tea bags packages were bought in Navi Mumbai. Available for inspection.

We consumers strongly feel that there is no justification for such a steep increase without any change in the quality. This is unjust and unfair business practice. Consumer un-friendly.

I request that the Hindustan Unilever Limited management should review this again and do justice to the MRP.

India – ranked seventh among the world’s most hard working nations!

2011-03-07T01:16:00.000-08:00

A simple survey conducted by Ipsos Global and Reuters, showed that India is ranked seventh among the world’s most hardworking nations. The ten rankings are: Japan, Australia, South Africa, South Korea, USA, Canada and India, Brazil, Sweden and China. It is found that 58.5% of people take all their allotted holidays, while in Japan only 33% of the employees avail of all their allotted paid holidays.

The sample number for the survey, 13,000 people across various countries is too small to make a judgment of this kind. Important to know is the number of “working” hours in a year. Never-the-less, this is a good attempt. Also it will be much different if one considers Indians working in India or Indians working abroad!

Water purifiers and purity of water

2011-01-06T03:13:00.000-08:00

The ground water is one of the major sources of drinking water and the Indian government promised to provide safe drinking water to all by 2012. It is reported that 33% of ground water of India is not fit to drink due to pollution. Besides the harmful bacteria and virus, the pollutants are iron, fluoride, salinity and arsenic. The concentrations generally exceed the tolerance levels prescribed by the authorities.

Bottled water has flooded the market and many companies are selling water purifiers claiming the supply of 100% pure water. There are many models available in the market. Zero B claims their water purifier as “A perfect blend of beauty and technology”. Kent Mineral RO claims to supply water which is purest in the world. Some other company claims 100% “Chemical free water”. The price varies from Rs.1000 to Rs.10,000. The high-pitch advertisements by the companies do not clarify the limitations of such systems. It looks as if the companies are taking the gullible public for a ride. Regulation of the water purifiers is not in sight.

There seems to be no awareness amongst the consumers as to the minimum purity requirement for the potable water. What are the drinking water standards? How and who will monitor the potability of the water supplies, i.e., municipal water supply and ground water supply?

The concerned authorities / departments should intervene immediately and specify the minimum required purity in terms of presence of chemicals, bacteria and virus in the water coming out of these purifiers. In fact, the television channels and news papers should take up this issue and sensitize the viewers about the existing status in domestic water purification systems in India. It can start public debates to discuss the issues involved.

Increasing use of "Party Drugs" by youngsters

2011-01-03T01:57:00.000-08:00

It is reported that the use of so-called party drugs, also called soft drugs is the first step to addiction. The youngsters (11 to 18 years) who used to smoke cigarettes once in a while for “kicks” have started taking soft drugs such as use of Hookahs and natural products such as cannabies, charas, ganja and bhang. These products do give some feeling of “highness” or well-being for a while, but are highly addictive over time.

There drugs do have long-term ill effects. They can cause brain damage, memory loss, loss of concentration, impaired judgment, etc, etc.

Public awareness through the mass media such as television should be used to bring-in awareness about the harmful effects of these drugs. Small ads using film/TV personalities should be made and shown for greater impact. Indian children are well known for hero-worshipping and try to copy the “styles” of these “Stars”.

These personalities should be asked give a few minutes of their time for such a noble cause. The government can provide some income tax benefit to the obliging stars as an incentive. Parents should also be educated to strongly discourage their children from consuming these life-style drugs to prevent addiction.

New Year Greetings

2011-01-01T02:28:00.000-08:00

I wish all my fellow-bloggers and readers:

A Very Happy, Healthy and Prosperous New Year – 2011

I would like to see India (minus corruption and poverty) a fully developed country and not a chronic developing country.

My Voice

Common man is being blackmailed and swindled!

2010-12-24T01:36:00.000-08:00

The prices of vegetables, onions, tomatoes are spiraling to unrealistic heights. This is a clear case of nexus between the politicians and traders (APMC) to enhance the prices and swindle the poor man and get fortunes to the political parties and the politicians. The Food Minister declares that the prices are likely to increase and the very next day the prices increase like a magic band. Very nice planning indeed!

The farmer is not at all benefited. He continues to get almost the same price which he used to get earlier.

It is high time that the APMC type of system is discontinued in India, and the marketing chains such as MORE and RELIANCE FRESH should be permitted and encouraged to buy the vegetables directly from the farmers so that the actual grower get a better price, and naturally the consumers need not pay APMC fixed rates which is three to five times higher than what the farmer gets.

Emission cuts-fundamental shift in India’s stance

2010-12-20T01:43:00.000-08:00

US is praising India’s Environment minister for facilitating the climate deal at Cancun and expressed commitment for accepting emission cuts voluntarily in the future. Unfortunately, there are no targets, but only pledges by the rich countries to reduce future emissions. Without any legally binding emission cuts, nothing is going to happen. There will be constraints only on the developing countries and their developments will be on hold or will be economically not viable for global trade.

Are the voluntary pledges of the rich and polluting countries adequate enough to prevent the dangerous climate changes we are already witnessing today? The threat is for real. It is reported that the world is already emitting 48 billion tons of CO2 equivalent of Green House Gases. To keep the world below 2 degrees C temperature increase, the global emissions must drop to 44 billion tons of CO2 equivalent by 2020.

The world leaders should see the clear writing on the wall that the climate change is already ON, and whatever is planned to be done by 2020 should be done right now. It is now or never.

May be, the world leaders are realizing slowly that the climate change is the naturally occurring cyclic phenomenon and nothing can really be done or achieve by GH gas emission cuts at the cost of much needed global economical development

Exposure to EMF radiations from mobile phones and towers

2010-12-09T22:38:00.000-08:00

The health effect Electro-Magnetic Frequency (EMF) radiation from the towers/mobile phones is of great concern. As reported, the probability of health effects is about 5 times higher in case of children and teenagers. Pregnant women should also be protected from the exposures so that the fetus is not exposed.

It is reported that about 50% of Indian population are using mobile phones! There are several thousands of transmission towers mushrooming all over the country. The convenience of mobile phone in passing on messages is undisputed. But it is over-used and unregulated. That is the concern.

I doubt whether India has a separate regulator to ensure safety from the EMF radiation exposures. It was suggested that BARC/AERB should start monitoring the EMF density in different locations to ensure see compliance with the available international standards. Just formation of committees is not enough. It is already late.

Through mass media communications, the public, both urban and rural, should be made aware of the situation and warn them against using mobile phones indiscriminately and regulate the service providers in installation of towers.

Self regulation is missing in Indian aviation industry

2010-12-06T02:06:00.000-08:00

Why every time the government machinery should intervene in sorting out irrational actions by the industry resulting in public outrage in India? Airlines in India started to charge exorbitant spot domestic air fares without any justifiable reason. The airfares were steeply raised often three to four times the normal fares, particularly during festive seasons! This is not existent in any other public transportation system. If this is permitted, why not allow railways to follow the same and swindle the common man who is already harassed by the inflation?

As of now, there is no transparency in deciding the airfares. Let alone the public, even the regulator (Director General of Civil Aviation), if functioning, is not aware of the modus-operandi followed by the airlines in deciding the airfares.

Following the public outcry, the government seems to have intervened and issued stern warning to the airlines to give fair airfares in consumer-friendly and transparent manner.

The airlines should not be allowed charge fares outside the range of fares which should be decided in consultation with the government regulator. Maybe, the government can also contribute by reducing the sales tax on ATF and control the airport charges which is reported to have gone up by 30% (out-sourcing effect).

Unreal Realty

2010-12-05T07:48:00.000-08:00

In India, it is not shocking. Well established bank officials have taken bribes to dole out multi-crore rupees loans to real estate companies. It is suspected that some of the projects are risky and dubious. Though, apparently it looks like bribes-for-favours scandal, there must be much more than meets the eye. There are inherent irrationalities involved in the realty sector. The realty prices are soaring not because of the actual demand, but the prices are manipulated by the builders. The banks are providing them easy money which helps them to hold-on to the property thereby an artificial demand is created. Prices are rigged by the builders lobby in all the major cities.

The government should intervene and investigate the scandals since government banks and institutions like LIC of India are involved, and it is public money. It is high time that the prices of realty should have some controls and the prices should be justified. The bank officials should be made responsible for the recovery of loans given to the builders in a given time frame. The guilty should be punished and sent to jail. India should not end up in a situation similar to the US sub-prime mortgage crisis.

Medical Insurance claim – agony unlimited

2010-11-29T02:46:00.000-08:00

Why there are so many complaints in the newspapers, of insurance companies not respecting the claims made by the medical insurance policy holders? The very common reason for refusal is “disease pre-existing”.

There are cases where the claims of from the policy holders have been up-held by the Consumer Courts in-spite of the fact that the policy holder did not declare the commonly existing conditions such as diabetes and hypertension while buying medical insurance. The regulatory body, IRDA should clearly bring this out to the public notice and instruct the insurance companies not to resort this type of tactics to refuse insurance claims.

Cashless medical insurance should be made really “cashless” as per the insurance policy. Why the regulators are not intervening and penalize the companies for the torture they are giving to the policy holders? The erring hospitals which delay reimbursements or charge patients indirectly should be blacklisted.

Reliance Fresh – scope for improvement

2010-11-20T02:53:00.000-08:00

The outlet, particularly at CBD, Belapur (Navi Mumbai) is in a bad shape. The so-called FRESH vegetables are not fresh. Old stocks are kept in the racks for extended time periods giving not a good and appreciable sight. The green vegetables (patta vegetables) are not cleaned at all. So much soil in the vegetables. I do not understand how such a big and quality-conscious organization can do such things?

It is also a fact that the outlet must be doing well inspite of so many problems such as non-availability of second weighing machine, improper deployment of the staff, etc, etc. This is not because of the quality but mere helplessness of the consumers. No competition.

The nearby residents are of the firm opinion that the quality of vegetables and fruits should improve. The not-so-fresh vegetables and fruits should be sold at 50% discount (late in the evening) so that these are not wasted. It is criminal to throw-away so much of the vegetables and fruits when poor people do not get to eat these things. Large quantity of spoiled vegetables and fruits are disposed as garbage daily from the Belapur out-let.

Irradiation to Ensure the Safety and Quality of Prepared Meals

2010-11-20T02:31:00.000-08:00

This publication (STI/PUB/1365, 375 pp. Date of Issue: 8 April 2009) presents the results of an FAO/IAEA coordinated research project (CRP) on the use of irradiation to ensure the safety and quality of pre-prepared foods. There is an increasing worldwide demand for pre-prepared and take-away meals. However, the traditional methods of preparing convenience foods via retort-processing and freezing are being replaced in favour of chilled foods, due mainly to their fresher and often more appealing appearance. Chilled prepared foods, however, are non-sterile and their heightened potential for microbiological contamination creates a considerable limitation to their shelf-life. The findings of this CRP demonstrate that radiation processing of pre-prepared meals results in a safer product by eliminating existing pathogens, and thereby reducing health risks while extending the foods’ commercial shelf-life.

This publication presents the findings of the CRP and offers a discussion of the possible further utilization and marketing of this new application of irradiation technology.

Food Adulteration

2010-11-13T07:48:00.000-08:00

The bitter truth is the food items we consume are adulterated in some way or the other. Recently, during the festive season in India, it was observed that the ingredients to make sweets, such as milk, sugar, khoya, ghee, maida, etc are found to be adulterated.

As per the law, no person shall manufacture, sell, stock, distribute or exhibit for sale any article of food, including ready-to-serve food, irradiated food except under a licence issued by the State Commissioner. Manufacture for sale, or sale of adulterated food article is an offence. A complaint can be made to the Food Inspector. The health inspectors in municipalities and municipal corporations are notified as Food Inspectors for purpose of checking adulteration of food and prosecuting the offenders. The Food and Drug Administration (FDA) is not doing enough to control the adulteration.

A complaint can also be made to the Consumer court for compensation for the damage caused on consumption of adulterated food item. The Prevention Food adulteration Act, 1954 stands repealed from the date “The Food Safety and Standards (FS &S) Act 2005” passed by parliament comes into force. If the food article is unsafe, substandard, or misbranded you can complain to the Food Safety Officer of the local area. Under the new Act, the Adjudicating Officer or the court trying the offence also can award compensation to the victim.

The Indian government has not done enough to control the adulteration of food products. There is law existing in the country to prosecute the guilty, but the people are not aware of the laws. The common man does not know whom to complain and how they work! The first thing the government should do is to increase the awareness amongst the public regarding the food adulteration, the local authority to whom the complain should be addressed and also provide proper guidelines to the manufacturers.

Safer CT scans

2010-11-12T01:42:00.000-08:00

CT scanning—sometimes called CAT scanning—is one of the best and fastest noninvasive medical test that helps doctors diagnose and treat medical conditions. CT scanning combines special x-ray equipment with sophisticated computers to produce multiple images or pictures of the inside of the body. The scans are used to diagnose health problems such as cancers, cardiovascular disease, infectious disease, appendicitis, trauma and musculoskeletal disorders

The greatly increased availability of CT, together with its value for an increasing number of conditions, has been responsible for a large rise in popularity. However, the CT is regarded as a moderate to high radiation diagnostic technique. The radiation dose for a particular study depends on multiple factors such as volume scanned, patient build, number and type of scan sequences, and desired resolution and image quality. In United Kingdom, CT scans contributed 47% of the total collective dose from medical X-ray examinations in 2000/2001. World wide, including in developing countries, CT usage has increased considerably which led to an overall rise in the total amount of medical exposures.

The exposure of the patient, particularly children, has potential for induction of caner and hence, the probability of additional rise in fatality from the radiation induced cancer may increase marginally over the background rate. Numerous studies are being conducted on this aspect. Incidents of patients receiving radiation doses more-than-expected have been reported due to equipment failure and improper use of the equipments.

Typical scan doses in milli-Sievert, mSv (Sievert is the unit of radiation dose)

Chest X-ray - 0.1
Head CT - 1.5
Screening mammography - 3
Chest CT - 5.8
Cardiac CT angiogram - 6.7 – 13
Barium enema - 15

[For purposes of comparison, the average background exposure in India is around 2 mSv in one year].

There is a recent advice from the US Food and Drug Administration that the manufacturers, users and regulators should together arrive at an optimal solution to this problem so that over-exposures of the patients are avoided, and the CT scans should be made safer for the benefit of patients.

Cruelty on kids – Reality shows

2010-07-07T00:48:00.000-07:00

There is growing concern, world-over on participation of young children in television shows. In India, as on today, the things are in very bad shape. Dance-based reality shows – typically Dance India Dance Lil. Masters (Zee TV) and Boogie Woogie Kids Champianship (Sony), are the shows showing kids under tremendous pressure to perform. There are many other similar shows in regional languages. Remember the government recently decided not to have exams for kids so that they should not be under exam stress. But the stress levels experienced by the kids in these reality shows are so high that soon the children may turn out to be mental wrecks. Thanks to the TV channels which ruthlessly exploit the kids for TRPs.

The kids are made to under go grueling routines practices; face harsh, ill-planned verdicts from judges; trained to misbehave; undergo constant fear of being eliminated from the shows and sexual gestures and body movements with sexual overtones! The kids may not even know the meaning of such pelvic thrusts! They are only kids and you just watch - what are the things they are forced to undergo on the stage! The children are made to live in fool's paradise. This is open child labour.

In the Lil Masters show, kids are made to dance so violently, often using dangerous tools/chemical that we are surprised why the government and women’s organizations are not intervening in the matter. There are hardly any laws in India to regulate such shows. Self regulation seems to be not in existence. God save the kids.

Unholy, unethical and unhealthy practice – gifts for doctors

2010-07-01T03:18:00.000-07:00

For years now, some Pharma companies follow unhealthy tactics to get doctors promote their medicines – unethical marketing of drugs. As on today, in India there is so-called voluntary code designed to prevent companies from providing incentives like vacations in India and abroad and other freebies to influence their prescribing behaviour. Everyone know that self regulation doesn’t work in India. These marketing techniques result in high cost o the medicines; desirable prescription of generic medicines is over-looked; unnecessary and harmful prescription of new medicines by doctors, negligence of poor patients by the doctors, etc. There are other issues such as: clinical trials of new drugs with fudged data, counterfeit drugs, unnecessary referrals to super specialists and for tests involving radiation exposures such as MRI, CT scans, X-ray examination, etc for kick-back considerations. The practice is further encouraged by the fact that employers/insurance companies foot the bills of the middle class.

In country like India, where the public health care is pathetic and majority of the lower and lower middle class are not covered under any schemes for paying for health care, it is the prime responsibility of the government to bring in stringent legislation proving heavy penalties, to curb this unethical marketing of medicines. Though, there is ban on doctors accepting freebies since the beginning of this year imposed by the Medical Council of India, which became infamous with corruption at the highest level, nothing seems to change. Nobody cares! Nobody to take action on the violators!

Today, July 1 is the Doctors’ Day and do you care?

Clean energy from thrash

2010-04-17T02:27:00.000-07:00

It is reported that in Horsholm, Denmark, about 80% of the heat and 20% of the electricity comes from burning of trash in incinerators. The new kind of cleaner incinerators (waste-to-energy plants) convert local thrash into heat and electricity. The exhaust is filtered and toxins such as mercury and dioxins are not allowed in the plant discharges. Cost reduction, cutting carbon dioxide gas emission, and saving of fossil fuel. Across Europe there are about 400 such plants. The emissions from the plant are well below the current EU’s standards for air and water discharges.

This garbage “disposal with benefits” proposition for waste management should be considered worldwide, particularly in small towns.

World Water Day

2010-03-21T23:24:00.000-07:00

World Water Day is being celebrated today to focus on the importance of well planned, sustainable management of fresh water resources. Everyone knows that every drop of water counts, but everyone takes it for granted and knowingly or unknowingly wastes water in our day-to-day activities. It is observed that in Indian cities, water scarcity is caused by poor management practices. Lot of water is lost in the water distribution network due to poor quality pipings, theft of water encouraged by corrupt municipal officials, etc.

On an average, about 40 liters of water is required by a person for drinking and sanitation and more than a billion people still lack access to fresh water supply around the world.

We must ensure that the water bodies are not polluted by untreated waste water discharges by the industries. Rainwater harvesting, recycling and use of sewage water for gardening and other non-drinking purposes, desalination of sea water and most importantly the prevention of flow of surface water into the sea are some of the “should be done” to conserve and augment the water supply to meet the impending water crisis world-wide.

Connecting the rivers - northern Indian rivers like Ganges with the water-starved southern rivers would have solved the water scarcity in southern part of India during summer months. In addition, this would have given a boost to the agriculture in some of the states to considerable extent.

Ground water pollution and water purifiers

2010-03-15T05:31:00.000-07:00

It is reported that 33% of ground water of India is not fit to drink due to pollution. The pollutants are iron, fluoride, salinity and arsenic and the concentrations exceed the tolerance levels prescribed by the authorities. The ground water is one of the major sources of drinking water and the Indian government promised to provide safe drinking water to all by 2012.

Now, how the domestic water purifiers sold in the market at high costs is going to purify the water with pollution at such high levels. The high-pitch advertisements by the companies should clarify the limitations of such systems. In fact, the companies should replace the old models with the latest models at a considerable discount.

Thus, the consumers get a latest model meeting WHO drinking water standards. The consumers have a right to know whether using the old models they are compromising on the quality of water. If not, there is no issue.

Crazy to think human activity impacts climate

2010-03-05T22:03:00.000-08:00

This title is reproduced from the excerpts from the interview of leading US atmospheric physicist S. Fred Singer by the Indian leading DNA Money. This supports fully the observations made by "icareforyou" consistently in his blogg: http://icareforyou2007.blogspot.com.

For the benefit of my fellow-forum members I reproduce some of the statements made by Prof. Singer.

1. The contribution from humans for the climate change in 20th century is only minute compared to natural causes.
2. Blaming only the CO2 for global warming is not justified when there are other much stronger greenhouse gases such as water vapour and methane are present in the environment. Data does not support IPCC views.
3. The Sun (solar activity), changes in the earth’s orbit and continental drift are responsible for the climate changes we are witnessing today. About 18 cm rise in sea level per century is the norm over 3,000 years.
4. Any drastic control on industrialization will make energy very expensive and affordable only by the rich.

"icareforyou" again emphasizes that industrial developments in developing countries should not be curtailed just on the sake of emission cuts. The climate change seen today is not reversible just by controlling the CO2 emission.

However, there is a need for developing cheaper and cleaner energy sources. Also, global efforts should be made to control emissions of other and much stronger GHGs such as: natural gases, methane, ethanol, N2O and CF4.

Fraud reported in stem cell banks

2010-02-22T03:03:00.000-08:00

Stem cells are the building blocks of life. Researchers are confident that the stem cell research will lead to treatments to wide variety of diseases and disorders such as: bone loss, broken bones, brain damage due to oxygen starvation, severe burns, cancer (some forms), diabetes, heart disease, hepatitis, incomplete bladder control, Huntington's, leukemia, muscular dystrophy, multiple sclerosis, osteoarthritis, Parkinson's, spinal cord injuries, stroke, etc, etc.. However, as it looks, the studies are in laboratory scale. Human trials in large numbers are required to employ the same as a routine mode of treatment. The cost of an effective stem cell treatment is going to cost a few lakh of rupees and the so-called embryonic stem cells require the destruction of embryo/fetus.

The ensuing public debate has prompted authorities around the world to seek regulatory frameworks and highlighted the fact that stem cell research represents a social and ethical challenge. Misuse of the unused embryos is matter of great concern. In US, Human Embryonic Stem Cell Research Advisory Committee provides the necessary guidelines for the research. They address the many ethical, legal, scientific, and policy issues that are of concern to the public, and the scientific community. Finally, it may not come through at all beyond clinical trial stage. Millions of patients are going to be benefited by the research if it is accepted for use beyond the trial stage.

The stem cell banks are mushrooming world-wide. These banks offer to store stem cells from the umbilical cords of newborns for use later in life when illness strikes. However, there are a lot of uncertainties in this banking system. To begin with, the storage facilities need very low temperatures and maintaining such low temperature over large time periods (24x365x a few decades) can not be guaranteed. This seems to be an uncertain and unnecessary insurance. The cost involved is tremendously high. The banks are playing with the emotions of parents and persuading the parents to bank the umbilical cord stem cells. Already frauds are being reported in some countries in stem cell banking.

Governments should warn the public against such activities. Strict regulation is necessary to monitor the stem cell research and the working of such banking systems.

Indian Schools – Common curriculum; Single CET

2010-02-18T04:16:00.000-08:00

Some may that the common syllabus closes options students have today to choose a board of their choice depending upon the children’s capabilities to cope up with the requirements and demands of different boards. But in the long run, a common syllabus for mathematics and science, and common CET for medical and engineering are worth much more for the students in terms of getting fair and equitable deals in admissions for higher and professional education.

The only worry is the corruption prevailing in the country in the education and Indian Administrative set ups. Appropriate committees of upright and sincere officers and educationists should be formed to implement and manage such an important decision. Periodic updating the syllabus, providing infrastructure support in semi-rural and rural areas and transparency in conducting the examinations in all India levels are some of the issues to be looked in to by the authorities. The reform steps are in right direction if implemented impartially.

UN claim of rising temperature wrong

2010-02-17T00:15:00.000-08:00

It is also said that the Chairman of IPCC cooked up facts to corner grants. It is also reported that The Energy and Resources institute (TERI) headed by the Chairman received over 310,000 pounds grants from Carnegie Corporation of NEW York and from European Union. With regard to the UN claim of global warming, new research casts doubt on the UN climate data, suggesting that the world may not be warming at all as stated. The IPCC wrongly linked the warming to floods.

In Indian scenario, it is reported that the year 2009 has been the hottest year ever recorded in India. The long-term annual average temperature was 0.913 degree C in 2009 as compared to 0.514 degree C in 1998. The coastal regions recorded the most increase. It is difficult to say that the temperature rise is due to human activities alone. In the global scenario, of the 12 hottest years in the century, 11 have been in the past 2 decades. Probably, rate of rise in temperature has marginally increased over the last two decades.

However, the blunders committed by the IPCC do not change the overall global picture of some small rise in the average global temperature. Concerted efforts are required in cutting back on greenhouse gas emissions, particularly in the power sector. Fossil fuel plants should be phased out slowly and concerted efforts should be made to develop renewable energy resources, like wind and solar and environmentally clean nuclear power.

Consumer Acts on doctor – justified?

2010-02-13T02:57:00.000-08:00

Supreme Court of Inda lays down 11-point guidelines for courts to decide on complaints against doctors. The Consumer Protection Act should be applicable to complaints where the gross medical negligence is proved without doubt. Often, the medical practitioners are forced to take some life-saving interventions or perform procedures during emergency which may not work successfully and the patient may die or due the intervention the patient may get into some other serious health complications.

Will the doctors be able to take a correct decision when the Consumer Protection Act is hanging over their neck? Can he allow a patient to die just because he is afraid of the decision may or may not save the life of the patient. May be, the doctor should be allowed to take a calculated risk to save a serious patient.

As a common man understood, the Supreme Court says that - doctors in complicated cases have to take chance even if the rate of survival is low. A doctor faced with an emergency normally tries to redeem the patient out of the suffering and the doctor does not gain by acting with negligence.

This implies that the prosecution should handle such cases with lot of care taking into account the doctor’s qualification, experience and past record. The medical negligence should be proved beyond any doubt while dispensing the justice. The above 11 guidelines will be of help in deciding such cases in court of law.

Indian Poverty Line – Suresh Tendulkar Committee

2010-02-10T02:35:00.000-08:00

According to the Suresh Tendulkar Committee released recently, the poverty line in India is upgraded from Rs. 356.30 (rural) and Rs. 538.60 (urban) per capita per month to Rs. 446.68 (rural) and Rs. 578.80 (urban) per capita per month for 2004-05. The International poverty line (WB) is US $1.25 per day for 2005. More than a billion poor people are there in the world today! Not very good news.

Developed countries and developing countries should minimize their spending on war heads, purchase of weapons and space activities and focus on the billion of poor to provide them with food, some shelter and clean drinking water.

Water purification systems –Aquaguard models

2010-01-30T03:28:00.000-08:00

In India, competition for drinking water purification systems has reached its peak with every manufacturer is trying to out-beat the other through high pitch advertisements. Everyone claims that their new model gives 100% pure drinking water. Aquaguard’s new model SENSA SMP+RO+UV claims to be its best model. It is in everybody’s knowledge that Reverse Osmosis is one of the best processes for purification of low-level pollutants from water streams. Ultra Violet radiation is used to kill the germs.

The big question in everybody’s mind is: whether the water coming out of the older models is safe enough for drinking? At that point of time, the same manufacturers claimed 100% safe drinking water from the older models!

Consumers are in a fix. Will the government intervene and regulate these activities? It is time that there should be controls and quality assurance for such purifiers which are marketed in very large numbers in urban areas.

Climate change matters

2009-12-18T01:08:00.000-08:00

It is being brought out in the press that even if the current pledges by nations at Copenhagen to reduce emissions, there will be 3 degree centigrade rise in the temperature by 2050. However, the projected rise was only 2 degree centigrade. This calls for global action “Now or Never” basis. Every country, irrespective of Developed or Developing, should accept this reality and commit to cut down the emissions by 2020 and commit to review further the situation.

Otherwise, the developing countries which are mostly located in warmer regions, dependent on rains and whose major source of income is agriculture will be worst hit by changing rain patterns, floods, drinking water shortage and droughts. Rising sea levels will affect India the most.

Climate change is thus more than just an environmental threat; it is a threat to our social structures, our families and our own lives. It is important for everyone to take action now.

From Japan to Copenhagen - long journey

2009-12-15T04:15:00.000-08:00

The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change (UNFCCC or FCCC), aimed at combating global warming which is assumed to be the result of industrialization. The UNFCCC is an international environmental treaty with the goal of achieving "stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system”. The Protocol was initially adopted on 11 December 1997 in Kyoto, Japan and entered into force on 16 February 2005. As of November 2009, 187 states have signed and ratified the protocol. Most notable non-member of the Protocol is the United States, which is a signatory of UNFCCC and was responsible for 36.1% of the 1990 emission levels.

Under the Protocol, 37 industrialized countries commit themselves to a reduction of four greenhouse gases (GHG) (carbon dioxide, methane, nitrous oxide, sulphur hexafluoride) and two groups of gases (hydrofluorocarbons and perfluorocarbons) produced by them, and all member countries gave general commitments. The countries agreed to reduce their collective greenhouse gas emissions by 5.2% from the 1990 level. Emission limits do not include emissions by international aviation and shipping.

The Protocol allows for several "flexible mechanisms", such as emissions trading, thus allowing developed countries to meet their GHG emission limitations by purchasing GHG emission reductions credits from developing, through financial exchanges, projects that reduce emissions from other countries, etc. The developed countries are also supposed to provide financial support and supply clean technology to other countries.

The objective of the Kyoto climate change conference was to establish a legally binding international agreement, whereby all the participating nations commit themselves to tackling the issue of global warming and greenhouse gas emissions. The target agreed upon was an average reduction of 5.2% from 1990 levels by the year 2012.

China now exceeds the United States as the single largest GHG emitter, and accounts for more than a fifth of global GHG emissions. Per capita emissions in developing countries like India and China are relatively low due to the large population. China, India and other developing countries were not included in any numerical limitation of the Kyoto Protocol, because they were not main contributors to the greenhouse gas emissions in the pre-treaty industrialization period. However, even without responsibility under the Kyoto target, developing countries are also committed to share the common responsibility of all countries to reduce emissions.

India signed and ratified the Protocol in August, 2002. Since India is exempted from the framework of the treaty, it is expected to gain from the protocol in terms of transfer of technology and related foreign investments. India maintains that following the principle of common but differentiated responsibility, the major responsibility of curbing emission rests with the developed countries, which have accumulated emissions over a long period of time. However, the U.S. and other Western nations assert that India, along with China, will account for most of the emissions in the coming decades, owing to their rapid industrialization and economic growth.

In the on-going Climate Change Summit at Copenhagen, a new track “Long Term Cooperative Action” is being readied by selected developed countries which demands that all countries, including emerging economies, make commitments to reduce emissions as equals by 2050. In protest, the majority of G77 members, joined by India and China, staged a walkout. Negotiations are still continuing to find a solution to this global problem.

Climate Change Summit

2009-12-12T04:41:00.000-08:00

Everyone is talking about the climate change due to global warming and naturally everyone is worried about the repercussions of such a scenario in the near future. If one assumes that the climate change is only due to global warming, one of the most serious scenarios due to the climate change will be the watery grave to very many coastal cities around the world and the sensitive industrial units such as refineries and nuclear plants which are ideally situated for convenience of accessibility and cooling water requirements on the sea coasts.

As can be seen from the goings-on in on-going Climate Change Summit at Copenhagen, it is very difficult to come to mutually agreeable and unbiased understanding on the issue. Developed countries are using arm-twisting techniques to brow-beat the developing countries to agree to cap the greenhouse gas emissions to unreasonable levels which are likely to hamper the necessary infrastructure development in the countries. The target year “by 2050” is too far off.

It is the need of the time that the developed rich countries provide clean technologies to the developing countries so that the development is not hampered. The developing countries like India and China also should make all efforts to reduce, at least, non-industrial emissions and commit to employ technology up-gradation to minimize the environmental greenhouse gas pollution.

CAT should conduct re-examination in paper-based format

2009-12-10T01:10:00.000-08:00

The Common Admission Test (CAT), which went online for the first time, has created utter confusion and frustration among the candidates. It is unfair to conduct re-examination for a few candidates and give them the benefit which the organizers are denying to other candidates. There were major disruptions in some centers and in some centers timing of the examination was changed abruptly and in some centers the internet was slow. There were many other problems which are yet to be identified. These issues have caused undesired stress to the candidates resulting in poor performances by many bright candidates.

In view of the secrecy maintained by IIMs regarding the structure of the online test, it is unfair to other candidates to give retest only to a few “Affected” candidates. To be fair to one and all, the organizers (IIMs) should conduct CAT-2009 retest to all the candidates in paper-pencil based format.

Agni-ll test failed again?

2009-11-24T23:37:00.000-08:00

The indigenously built by DRDO, the 2000 km plus range missile, Agni – ll failed to deliver the desired results for the second time in six months. The indigenously developed inertial navigation system (INS) also failed. It is reported that imported INS used to work without fail. Why India is not in position to develop quality products? In any system used in space and defense activities quality control is at-most importance due to the stringent quality requirements of the equipments.

Why India can not even duplicate imported equipments/systems with good quality control? Quality is always compromised by the corrupt officials endangering the important multi-Crore missions. Chandrayan is another example of such failures. India can only beat China in quality because Chinese products are much inferior in quality.

Corruption in high places is the route cause of all failures/miseries suffered by industrial and technological sectors in India.

Global warming – Developed countries cornering India?

2009-11-12T01:23:00.000-08:00

Some studies reported in Nature have indicated that the global warming will be stabilized at 2 degree Celsius above the “below pre-industrial era levels” if CO2 emissions are halved by 2050. The UN Panel of climate scientists has predicted that the average global temperature rising above the threshold of 2 degree will have catastrophic impact on the climate.

Is is understood that India has accepted this as the global limiting level at the Major Economies Forum meeting held recently in Italy. The rich countries which participated in the meeting also agreed to reduce the emissions by 7-14% below 1990 levels by 2030. It looks too small for the countries which have been polluting the environment with green-house gases for so long. The CO2 emission from US was 6.049 billion metric tonnes in 2004 with per capita of 20.4 metric tonnes! Compared to this, India’s emissions stood at 1.342 billion metric tonnes with per capita of 1.2 metric tonnes. China’s emissions were about 4 times higher than that of India.

A United Nations agency in one of the survey reports (2009) rightly pointed out that the industrialized nations should take deep emission cuts of the order of 40% below 1990 levels by 2030 and 80% cut by 2050. In a global carbon budget scenario, the share of industrialized countries should be of the order of 21%. Any consumption of the budget exceeding this by the developed countries would be at the cost of developing countries, which need industrialization in a big way in the coming years.

India should not or should not be made to accept any such discriminatory or legally binding proposals on emission-cut targets in the forthcoming United Nations Conference at Copenhagen in December this year. In support for the global concerns on climate change, India also should develop and employ emissions-free technologies in its future industrial developments.

Lead pollution world-wide – Alarming

2009-11-09T00:39:00.000-08:00

Pollution from lead and other heavy metals are agents of disease for many of the world’s children. In poor countries, the health risks associated with this kind of pollution are all too often seen as the inevitable price of economic development.

Lead exposure is a major health hazard. It is a metal with no known biological benefit to humans. A direct link has been found between early exposure and extreme learning disability, hyperactivity, violence and lethargy. Too much lead in the body interferes with the normal development of the brain, the central nervous system, the kidney and the heart.

An estimated 120 million people worldwide are exposed to lead in the environment, in air, soil, water. It is estimates that over 12 million people are affected by lead contamination from processing of used lead acid batteries and unsafe unregulated recycling throughout the developing world. Dangerous lead contamination is found in children in some 80 countries.

Lead poisoning is determined by measuring the ratio of lead to blood in the human body. The accepted limit of lead in blood is 10 µg/dL.

To take the lead out of blood, a chemical called calcium di-sodium EDTA is injected into the body to form a complex (chelate) with the lead ions in the blood which ultimately passes out in urine and faeces. The concentrations, in such levels are measured using advanced testing equipment such as total reflection x-ray fluorescence unit and germanium photon detectors. International organizations such as IAEA support such activities.

Benefits – Yes but Risk – No

2009-10-29T03:12:00.000-07:00

This is the typical mind-set of any human being. Unless people learn to take a little risk - the level of risk which people always take at their workplaces or during traveling to the work places – no developmental work to improve the living conditions can take place in the country. The West Bengal government always remained anti-industry, causing the industrialists to shift their industries to the more obliging states.

Now, the agitation is to stop nuclear power plants coming in Haripur of East Midnapore. Every one knows that unlike fossil-fuel based thermal power plants, the nuclear power plants do not pollute the environment. Radiation dose received by population living around the plants get negligibly radiation dose. India has considerable expertise in managing nuclear plants safely. Then, why the resistance? The benefits out-weigh risks.

It looks it is only a political issue. The affected persons are likely to be rehabilitated; they will get jobs, get supporting small businesses and of-course the much needed electricity for developmental activities. Like Nandigram, story will be repeated at Haripur. It will again be loss to Bengal.

India leads - 140,000 road mishap fatalities in 2007

2009-10-26T03:48:00.000-07:00

It is indeed shocking and shameful news for every Indian! Human error has been identified as the single largest cause of road accidents. There are very issues to be tackled to reduce this number. The very first reason is the procedure for granting driving license is not at all stringent. Other important reasons are: non-availability of immediate medical care to the accident victims due to red-tapism; use of mobile phones and earplugs while driving; improper road furniture, driving after consuming alcohol, inadequate traffic control measures, etc. Added to this, corruption is rampant in this sector.

The India government should take immediate measures to curb this trend and ensure road safety. There are too many vehicles on the city roads. Unless the existing laws are strictly enforced, the situation is not likely to improve. Who cares?

Swine flu in India – An update

2009-10-05T00:32:00.000-07:00

As per the SIFY news quoting union health ministry, four new swine flu deaths, all of them from Maharashtra State, were reported this Sunday, taking the country's toll due to the contagious virus to 344. With these deaths, the toll in Maharashtra has gone up to 139, the highest among the states in the country. The state sees 7% rise in H1N1 cases in September. The medical officer (epidemic) of the state health services said that throat swabs of only severely ill patients are being tested for the virus since mid-August.

At least 164 fresh infections were reported taking the total number of cases in the country to 10,894. Among the states, Maharashtra has maximum number of cases with 3,024, closely followed by Delhi where around 2,800 people have been infected by the influenza A (H1N1) virus. A study carried out in New Delhi indicated that surgical masks are as good as the costly N95 respirators recommended for preventing the infection.

WHO is actively monitoring the progress of the pandemic through frequent consultations with the WHO Regional Offices and member states and through monitoring of multiple sources of data. As of 27 September 2009, worldwide there have been more than 343,000 laboratory confirmed cases of pandemic influenza H1N1 2009 and over 4100 deaths reported to WHO. All pandemic H1N1 2009 influenza viruses analyzed to date have been antigenically and genetically similar to A/California/7/2009-like pandemic H1N1 2009 virus.

Everyone is waiting for an effective and safe vaccine to control the spread of the virus.

India’s annual inflation rate continues to be negative week after week!

2009-09-07T00:54:00.000-07:00

The government has again reported negative inflation rate for the week ended on 22 August 2009. The inflation rate is based on the Wholesale price index. The government’s view is that the wholesale price index is more closely tracked than consumer-price gauges for economic analysis, as it captures prices of a higher number of products and is released weekly. How the WPI can be negative when the prices of food items at retail level have gone up over 20%?

Union Finance Minister announced that 2004-05 as the base year for the calculation of inflation rate based on wholesale price index (WPI) series in the country. Replying to a question on price indices in the Lok Sabha, the minister said the WPI series is being upgraded with base year 2004-05 in lieu of the existing one with base year 1993-94. He said that the index would provide a better picture of the current scenario of prices.

On the other hand, the consumer price index, which is released on a monthly basis, rose 11.89 percent in July from 9.29 percent in June, as per the government data. The basket in consumer price index measures prices of logically used items by the common man. This index takes into account prices for house rentals, toiletries, phones and school fees.

There are some realistic recommendations made by DNA Analysis, viz., WPI is the least reliable barometer of the price behavior and hence should not be used as a yardstick to express inflation affecting the common man. Consumer price index should be made more comprehensive and should be used, calculated on a monthly basis.

The present arrangement of calculating the inflation rate based on WPI is faulty and should not be used for the calculation of any compensations or allowances.

World Water Crisis

2009-09-03T04:23:00.000-07:00

In 1992, the UN General Assembly designated March 22 as "World Water Day" to draw international attention to the critical lack of clean, safe drinking water worldwide. World Water Day is celebrated since 1993. Nearly 1.1 billion people (roughly 20% of the world’s population) lack access to safe drinking water. The lack of clean, safe drinking water is estimated to kill almost 4,500 children per day. Water is essential to the treatment of diseases, something especially critical for children and aged people.

The amount of water in the world is finite. The number of us is growing fast and our water use is growing even faster. This problem isn’t confined to a particular region of the world. A third of the world's population lives in water-stressed countries now. By 2025, this is expected to rise to two-thirds.

The world water crisis is created by a confluence of factors including climate and geography, lack of water systems and infrastructure, and natural and man-made pollution of water resources. The crisis is worst in developing countries, especially in Sub-Saharan Africa and South Asia. Countries depend only on rains for drinking water. The lack of clean water, coupled with the lack of basic sanitation and a dearth of hygiene education, is one of the largest obstacles to progress and development in these regions and across the world. Time has come to use hi-tech for the production of pure drinking water.

Let all the citizens of the world get sensitized about the world water scarcity which may lead to one of the largest public health issues of our time. World media should wake up to this reality.

Save Water. Do not pollute water. Consume less water. Water is precious.

Reliance – Washing the dirty linen in public

2009-08-19T00:55:00.000-07:00

The Reliance Group of companies of Mukesh Ambani and Anil Ambani together is the largest corporate house in India today. They together can make or break India’s economy. Under such circumstances, in the public and national interest, India government should mediate immediately to sort out the differences rather than supporting one group or the other. The route-cause of the issue should be identified and rectified at the earliest and remedial measures should be taken by the ministries concerned at the intervention of the Prime Minister. The country is being taken for ransom by the irresponsible brothers and this should not be tolerated.

Aquaguard system from Eureka Forbes

2009-07-22T04:57:00.000-07:00

There are at-least four models right now being used by consumers for purification of water for drinking purpose. I use Compact System where it is claimed that water is going through a 3-stage purification system and by e-boiling, every drop is as pure, as safe as water boiled for 20 minutes. It is also claimed that some Electronic Eye continuously scans water to give 100% pure water or no water. I have a few genuine doubts which could not be cleared by the company representatives.

It is high time that the mushrooming companies selling water purification systems are regulated by the Indian government so that the gullible customers are not taken for a ride by so-called marketing executives.

1. Without water testing results how the company can claims that the individual user is drinking 100% pure water? Free water testing, on quarterly basis, should be part of the Annual Maintenance Contract (AMC).
2. How the company ensures that water flow rate doesn’t exceed 1 l.p.m as given in the technical specifications. The sales executives visiting houses are not technically competent enough to satisfy the customers.
3. In AMC, only twice a year the compact cartridge (sediment cum activated carbon) is changed. Whether it is adequate?
4. I suspect the role and effectiveness of the UV system used by the company.
5. Does the customer get his money’s worth? The Compact system costs over Rs.7500/-.
5. Whether all the models sold by the company are equally good in giving the necessary results?

Can somebody answer these questions?

Reservation Bill will not ensure their empowerment

2009-06-29T05:11:00.000-07:00

Reservation Bill will not ensure their empowerment. In India, it is still man’s world. It is possible if men genuinely support the bill and accept the repercussions of the bill. By enforced reservation, you only bring in "dummies" in all spheres of life. It is unfortunate that the government is bringing the Quota for women in government jobs. Already, the efficiency in government departments is low. This quota system is going to further reduce the efficiency and common man is going to suffer more.

The move is unfortunate. Let merit speak for itself and not the caste or gender.

IS INDIA FAKING ECONOMIC RECOVERY?

2009-06-26T03:38:00.000-07:00

After seeing the title “Is China faking economic recovery” in DNA Money, I am tempted to ask whether India is also doing the same since India is also going through similar economic situation. People believe the economy is doing well. But, the actual sector-wise growth rates indicate otherwise. Some rise in the stock market indices should not be taken as any reliable indicators of the health of the economy. When everyone experiences the steep rise in vegetables and other commodities how the government can declare that the inflation is turning negative?

I somehow liked some lines from the Report of Directors, ITC, Limited which is reproduced here, i. e., “With a fairly young population, skilled man power, rising savings and investment rates, a vibrant service sector, a potentially large source of domestic demand and emergence of globally competitive firms, India has multiple growth drivers which hold out promise of stable and sustained growth”. Yes! Best of luck, India.

Aspartame-the artificial sweetener

2009-06-21T06:18:00.000-07:00

Aspartame is the name for an artificial, non-saccharide sweetener. It is the methyl ester of a phenylalanine/aspartic acid dipeptide with a molecular weight C14H18N2O5.This sweetener is marketed under a number of trademark names, including Equal, NutraSweet, and Canderel, and is an ingredient of over 6,000 consumer foods and beverages sold worldwide, including diet sodas and other soft drinks.

At high temperatures, aspartame often breaks down and loses much of its sweetness. Aspartame is also one of the main sugar substitutes used by people with diabetes. Under strongly acidic or alkaline conditions, aspartame generates methanol by hydrolysis. Under more severe conditions, the peptide bonds are also hydrolyzed, resulting in the free amino acids. When dissolved in water, the stability of the compound greatly depends of the pH of the medium and it is reported to be most stable at pH 4.3.

Indian markets are flooded with a product called “Sugar Free – Gold”, manufactured by Acme Remedies and marketed by a Gujarat-based company, Zydus Wellness Limited. Hundred grams of the product costs 90 Rupees and the claim is 100 gm of the product is equivalent to 1 kg of sugar. The product is backed by a very strong marketing strategy through advertisements and common man, mainly with diabetic complaints started using the product to make all kinds of sweets involving high temperatures. The ingredients as printed on the bottle are: dextrose, maltodextrin and Aspartame. The energy content of 0.5 gm of the product is 1.99 kCal.

The artificial sweetener Aspartame has been the subject of controversy since its initial approval by the U.S. Food and Drug Administration (FDA) in 1974. The decomposition products of aspartame such as methanol, formaldehyde and formic acid are not easily eliminated from the body. These are reported to be carcinogens and health effects of long-term usage of the product are still not known. There are hundreds of research reports and technical documents describing various health effects due to the consumption of the product since its discovery in 1965.

Under such doubtful circumstances, and in view of the controversies about the health effects, is it worth using the product to sweeten the food items by the healthy young adults, and sick individuals in countries like India? Better die of diabetes than die of the slow chemical poisoning. Health-conscious young adults should go for natural sweeteners and burn the calories by work-outs and exercises.

All-India judicial Services Examination – Good Move

2009-06-14T03:02:00.000-07:00

Indian judiciary needs strengthening to tackle enormous backlog of cases. In order to make some meaningful progress in the country’s judicial system, the Chief Justice of India is proposing All-India Services Examination in the lines of civil services examination. A very good move indeed if he succeeds.

According to the Chief Justice, this will augment the shortage of judges at all levels which is causing delay in dispensing justice and to weed out backlog of cases and corruption in judiciary.

From a commoners’ point of view, justice delayed is justice denied, which result in citizens taking law into their own hands or local “goonda” elements dispensing justice-a “quick-fix”-for a price.

World No Tobacco Day – May 31

2009-05-30T04:04:00.000-07:00

Everyone knows what the end effect of tobacco consumption is. Tobacco is one of the proven carcinogenic material, consumed by millions of people in various forms such as cigarettes, beedies, gutka, etc. It is a dangerous addiction. Street kids as young as four are smoking tobacco in some form or other! We only hope the tobacco industry realizes what it is doing to millions of people.

The World No Tobacco Day is to spread “Shun-Tobacco” message all around the world. The cancer-affected people say “I wish I hadn’t smoked my first cigarette”. They are also now pressing for introduction of pictorial health warnings on all tobacco packs. In India, pictorial warning of –a skull and bones sign with a message “tobacco and smoking kills” - will be introduced on cigarette and bidi packets from May 31, 2009 onwards. Better late than never.

Everyone of us should support and demand a smoke-free environment. If tobacco is so much harmful why grow it at all? Ban tobacco cultivation.

Hookah bars-ban them

2009-05-21T04:04:00.000-07:00

In India, smoking is banned in public places, including in restaurants, bars and pubs. Public opinion is definitely for the ban. The cigarette smoke contains particulates and hundreds of organic chemicals which are known to cause cancer. The common types of cancers associated with the cigarette smoke are lung cancer and throat cancer. The smoke is harmful even if it is inhaled in a passive way – like non-smokers sitting in a room inhaling the cigarette (tobacco) smoke exhaled by the smokers.

In-spite of the ban, a report in the news paper reveals that only 64% of the restaurants, bars and pubs in Mumbai are complying with the ban and the rest are not able to. The particulate (2.5 micron size) concentration in the air varied from 55 (in bars/restaurants) to 707 (in Hookah bars) microgram per cubic meter of air. The Deonar Dumping ground area records the particulate concentration of 169 microgram per cubic meter of air.

Why the Mumbai Municipal Authorities are not able to crack down on the non-complying hoteliers and enforce the ban, and save the non-smoking customers from inhaling the air contaminated with these deadly pollutants?

Radioactive Cargo in aircrafts

2009-05-12T22:34:00.000-07:00

Millions of radioactive packages are transported regularly by air between different destinations around the world. I believe, India also imports and exports these radioactive sources for different applications, mainly for the diagnosis and treatment of patients in hospitals.

There are very stringent international regulations applicable for transportation of radioactive materials. The rules and regulations apply with respect to type of the radioactive source, nature of the package and the total radioactive material permitted inside the package. The purpose of this is to make sure that even in case of any accident no radioactivity comes out of the package and harm anybody.

Under such situations, there is no reason for any alarm and no need for the media to give undue importance for the presence of radioactive cargo in the aircrafts. Let us not make patients suffer because of our ignorance.

Organised “frauds” in mutual funds’ management?

2009-05-06T02:29:00.000-07:00

Who controls and regulates management of thousands of Crore rupees in Indian financial sector. All along, people suspected some sort of a “Jole” in the mutual funds. For one, the final decision to buy types of equities may be a “one-man show” and purchases and sales may be person-biased. This paves way for a lot of loop holes and opportunities to favour selected companies, which may not be in the interest of gullible Indian investors. Often, there is pressure from politicians and other influential company CEOs to buy or sell equities of particular company at a particular time. For example, the Indian mutual fund managers completely missed April rally. Instead, they pumped in Rs.26,000 Cr into debt, their highest ever investment in a month.

Finally, the investor is the loser. More than 40% of the mutual fund NAVs languish below Rs.10/- and may remain so for a year more. The advertisements are fooling the public and for a heft commission, the agents/sales executives somehow convince the people to buy these funds. Some economist’s suspect organized frauds in the management of mutual funds.

Why the investors are taken for ride, again and again? No regulations? Why PSU banks should support these funds? Any answers?

Restructuring of loans – Sub prime crisis brewing in India?

2009-04-30T06:53:00.000-07:00

Keeping in view of the bank’s margins which are under pressure due to the global economic slowdown, the Reserve Bank of India has provided the banks a breather by revising the method of calculating the current value of restructured loans. The RBI has been decided to modify the formula for computing diminution in the fair value of restructured loan. Diminution means the reduction in the value of loans that have come for restructuring, due to reduction in interest rate or rescheduling of repayment of principal.

At present, while restructuring the loans, banks take into account the benchmark lending rate, Prime Lending Rate, which have been on a rise during the last few years, the RBI said. It is adding to the financial difficulties being faced by banks due to the current downturn. The RBI further said that in the annual balance sheets for the year ending March 2009, the banks will also have to disclose the amount and number of accounts in respect of which applications for restructuring are under way.

Indian banks have restructured Rs.40,304 Cr loans in year to March 31, 2009. This figure is going to rise since State Bank of India (SBI), a biggest lender is yet to come out with its figures. As of now, Axis bank is topping the list with the restrucutured loan of Rs.9961.7 Cr. Under restructural scheme, the banks, depending on the genuineness of the borrower may either give the borrower additional time for repayment or EMI holiday for a while instead of declaring the borrower as defaulter.

More and more applications are coming for restructuring the loans. But, if the economic situation doesn’t improve, and with more and more job loses, the borrowers may not be in a position to pay-back even under restrucutured loan scheme. In housing sector, with the real estate rates falling by 40-50% in urban areas, inventory valuations also will also dip drastically and a sub prime crisis may soon develop in India.

Global Investors started investing in India

2009-04-29T04:22:00.000-07:00

Indian stock markets have partially recovered over the last few sessions of trading. The Sensex has gained over 3200 points since the beginning of the rally. Economists with leading financial institutions also say that the slump period is over and “green shoots” of recovery are sighted. The turning point in the industrial production cycle is expected by mid 2009.

Sensing the change in the economic scenario in India as compared to dismal performance in other countries, global investors have started investing again in a big way. Over Rs.500 Cr was the inflow in the week ended April 22. Since March 9, FIIs have invested Rs.8000 Cr in the Indian markets. Without any significant growth in industrial/agricultural sector, any upward movement of the Sensex is purely speculative and un-sustainable.

Now, the point to be seen is whether the markets can sustain these during and after the elections? What sort of reactions the markets will show for the new coalition (kichdi) government at the centre? What will be extent of long-term effects of the recession in USA in India?

Good move by the market regulator

2009-04-26T04:12:00.000-07:00

Indian stock market regulator, SEBI has amended listing agreement to bring-in greater transparency in reporting by ensuring uniformity in declaring dividends. Dividends will now be on per-share basis and not on percentage basis. This will remove the confusion of the investors regarding the actual return on their investments since the face value of the shares are not uniform. It may one or two rupee, 10 rupee or a hundred rupee.

Per-share dividend declaration will make more sense in Indian markets.

RIL was down-guarded by market analysts

2009-04-26T03:57:00.000-07:00

Reliance Industries Limited was down graded by BNP Paribas and Citigroup Global markets Inc – from buy to hold and from hold to reduce. The gain of over 40% in the share prices is not justified by the performance of the company. The increase may be due to the sudden liquidity rush in Indian markets. The RIL plans to spend about US$4.5 billion on projects this fiscal. The recession world-wide cut demand for fuels and the fourth-quarter net profit fell 9.2% to US$709 million.

Under the circumstances, whether it is justified to merge RPL with RIL in the ratio of 1:16? The shareholders are fooled/confused by these “merger-de-merger” techniques of Ambanis.

Uniformity in tariff structures, and security in Indian ports

2009-04-14T03:33:00.000-07:00

It is a good move by the Indian government to all the port under Tariff Authority for Major Ports (TAMP) as a Regulator in addition to fixing tariffs for major ports. Over the last three to four years, shipping industry and port traffic has grown considerably and major ports currently handle 75% of the total trade in the India. There are also private ports and non-major ports which contribute to about 25% of the port traffic.

India has 12 major Centre-run ports and 183 State-run and private ports. Tariff structure in government-run and privately run ports is different and the competition due to this is helping the smaller state-run and private players. Hence, there is bound to be opposition for this regulatory move.

However, it is necessary that all the ports, major, non-major and private ports should be brought under government regulation so as to have uniformity or transparent differences in the tariff structures. This also will ensure that the necessary safety and security requirements are met in all the ports.

Monetisation to bankroll deficit – India following USA?

2009-04-13T04:25:00.000-07:00

Practice of printing notes, though in vogue for long time, is being practiced by Indian Government and may soon end up in a situation similar to USA. As per the good governance practice, any printing of notes should be backed by the stock of gold/silver in the government treasury. USA is paying a heavy price today for printing dollars to pay for the Iraq war expenditure.

As per the reports appearing in the press, Indian security presses have printed notes worth over Rs. 1.5 lakh Crore. In addition to this the government has borrowed over Rs. 2,61,972 Crore from market and thousands of Crore of rupees were tapped as advances from various sources. All these funds went to meet expensive election gimmicks such as Farm loan waiver, implementation of 6th Pay Commission recommendations, National Rural Employment Guarantee, election expenses and other government subsidies to various sectors.

India government is heading for a financial bankruptcy similar to Pakistan, and what sort of “Khajana” or Treasury will be handed over to any non-Congress government, if formed after the elections? ALL EMPTY!

Radioactive material in scrap – global issue

2009-03-05T02:49:00.000-08:00

Over 300 participants from a total of 62 countries are taking part in the five-day International Conference on Control and Management of Inadvertent Radioactive Material in Scrap Metal, held at Tarragone, Spain, during 23-27 February, 2009. The event is being organized by Spain´s CSN in cooperation with the IAEA. The International experts said in the meeting that further steps are needed to protect people from radioactive material that can inadvertently end up at junk and scrap yards.

In the last three years, the IAEA has become aware of around 500 events involving uncontrolled ionizing radiation sources, about 150 of which were related to sources found in scrap metal or contaminated goods or materials. A large portion of the scrap metal that is consumed annually is traded internationally, and may originate in one country and be transported long distances before being processed in another country. This is clearly a global problem that hence requires the application of a globally harmonized approach involving all stakeholders, says the IAEA official.

The regulatory approach is based on providing International Safety Standards by the IAEA (which is in place), and provide better guidance to regulators, scrap dealers, and metal recycling industries on how to deal with problems when they occur. The scope of the protocol involves the detection and monitoring of radioactivity in the storage facilities and industries where scrap metal is collected and handled. Key elements include creating a register of ascribed companies, monitoring material at the entrance of the facilities as well as the final products and waste, and establishing sequence of actions to be taken when radioactivity is detected in the scrap.

Uncertainty is devastating – Satyam

2009-02-19T02:45:00.000-08:00

Uncertainty with respect to the future of over 40,000 Satyam employees is devastating. There seems to be split at the top. Several senior level employees seem to be not cooperating with the new board and the interim CEO. Still, a lot of muck may be hidden by the so-called “loyal to Rajus” group of senior level employees.

There is no doubt that all the muck need to be cleaned so that the clients’ interest and shareholders confidence is restored back for the smooth transition of the company to any potential buyer. One of the important aspects missing seems to be the employees’ opinion on the present situation and the future. Whole-hearted cooperation from all the top and middle management level employees is important requirement for Satyam to see through this man-made crisis.

Drug from genetically altered animals

2009-02-12T02:33:00.000-08:00

The US-FDA has approved the first drug produced by genetically engineered live-stock. The drug, meant to prevent fatal blood clots, is a protein extracted from the milk of goats that have been given a human gene. The drug is made by a company called GTC Biotherapeutics, which claims that one of its DNA-altered goats can produce as much antithrombin in a year as can be derived from 90,000 blood donations!

Use of the animals as drug factories is something not liked by animal rights activists. More major concern is the possible cross contamination of the food chain and cross- breeding of these animals with normal animals. Results may not be predictable.

It is high time to organize public debates on the ethical and medico-legal aspect of this type of research, and to establish national regulatory frameworks for providing guidelines for the research and to address the public concerns.

Medical insurance – time to reduce the premium

2009-02-05T05:07:00.000-08:00

Medical Insurance is in good demand these days. Insure and feel secure is the “Mantra” of the lower middle class and middle class in India. The reasons for the rush is probably the health consequences of the recent terrorist activities and injuries resulting from riots by political organizations, and umpteen number of road accidents occurring in the cities like Mumbai. Health care costs have also gone up considerably. The premiums paid come under 80D of Income Tax Act, of Rs.15,000 for individuals and Rs.20,000 for senior citizens. One should note that all personal accident policies may not cover terror.

In view of the very significant increase in the demand for vide variety of insurance products, it is necessary that the regulators should ensure that the government and private players in the field do not exploit the consumers by framing conditions which impede fast or timely claims. In fact, the calculations of the amount of premiums payable should take into account the increased life expectancy and better health care facilities available today. There is scope to bring down the premiums, particularly for senior citizens and for elders with old age diseases such as diabetes and hypertension. Organizations such as LIC of India should take a lead in this matter. Profit making should not be the only criteria.

Question is: what type of health-care insurance coverage should be given to the urban and rural poor? The Indian Health Minister should concentrate on such primary and important issues rather than the secondary issues like prohibition and smoking.

Reliance Fresh – Disappointing

2009-02-04T22:34:00.000-08:00

Some of the retail stores in Navi Mumbai - the much talked about retail chain Reliance Fresh seems to be disappointing in terms of offering fresh and cheaper vegetables and fruits to consumers. Take a particular store in Belapur, the store is managed by nobody! There seems to be no designated Manager to whom the customers can voice their suggestions/grievances. The quality of vegetable is not good. The store may be doing business because the residents of Sector 15 do not have any other choice. The dates of manufacturing of most of the items are quite old, at least more than a month. There are communication gaps everywhere between the staff members. The sales persons seems to be not much interested in business, and often seen around in other shops.

The Goli Counter (to sell vada pav & cutlets) started recently is being managed by a person who is really not interested in selling the Goli items. He is so slow and always “blank” faced. He doesn’t keep the timings written there. The items are in good demand. One has to wait, wait & wait. Like me, many are disappointed.

High drug levels in water sources

2009-01-30T00:39:00.000-08:00

In Patancheru, Andhra Pradesh, it is reported that world’s highest pharma chemical levels are found in water sources. The levels of antibiotics are in the so-called treated water is so high that patients can be treated by gulping down the water. Many have become immune to the antibiotics, which is very dangerous from the considerations of treatment of actual diseases. The People must be undergoing slow poisoning. This also serves as eye-opener, and other water sources close to industrial areas need to be monitored to ensure water quality.

The incident is so serious that the Prime Minister’s Office (PMO) intervened and asked for the detailed report. One is shocked at the level of pollution in the water samples and the inaction of the concerned regulators, environment monitoring agencies and NGOs for so long! It seems to be true that everything can be hushed up in India provided one is prepared to bribe the “right” persons in cash or in kind. Satyam’s multi-million rupees fraud is a good example.

Indian Parliament is concerned about Climate Change

2009-01-28T02:52:00.000-08:00

Indian Parliament recently took an important initiative by constituting a Parliamentary Forum on global warming and climate change, with broad-based membership cutting across the party lines. The Forum is expected to seek expert advices from national and international bodies to enhance the quality of debate on the issues concerned with the climate change. The forum will provide the necessary inputs to the policy makers so that the environmental impact from the massive industrialization remains as low as possible. Let the message and the awareness is passed down to the Legislatures at state level, Corporators at City levels and village Panchayats at village levels. All are equally concerned.

Global warming is caused by the “greenhouse effect” of some chemicals, such as carbon dioxide and methane in the environment, generated by human activity. Solar radiation is trapped by these chemicals thus raising the temperature. It is reported that the year 2008 was the eighth warmest year on record. World’s average temperature for 2008 was 0.49 degree C above the 20th Century average of 3.9degree C. The resulting climate changes, such as: forest and crop loss, reduced snowfall accumulations, floods, summer draughts and spread of diseases. It is reported that the incomplete burning of biomass over the years has formed brown haze over the Indian subcontinent, particularly in winter.

What we need today is to bring in greater awareness about the environmental consequences of human activity and do all possible to reduce and control emission of the greenhouse gases and other pollutants into our environment.

Political terrorism

2009-01-23T03:27:00.000-08:00

Mumbaites continues to suffer from terrorist’s activities, either from external organizations or from political terrorism carried out by local and national-level political parties throughout the year. Political terrorism is much more ruthless since crime is perpetuated on us by our own people! There are umpteen reasons such as regionalism, language, inter-state border disputes, reservations in education and jobs, etc Politicians can’t be allowed to hold innocent people to ransom. The CEO of the party should be held responsible for the actions of the party workers

Judiciary finally decided to come down heavily on the government for not protecting the common man, who suffers ultimately due to the political crimes. Fast track courts should be set to tackle terrorism activities carried out by the political parties. The video tapes showing the miscreants indulging in arson and looting should be treated as adequate proof of identification to nail the miscreants. The party should be made to deposit a minimum of Rs.1Crore as deposit till the case is heard by the judges. Political parties should be made to pay for the damages caused by the political miscreants. Damaging public property should be treated as a serious offence and made non-bailable for week at least. Media should refuse to give unwanted publicity to the political terrorists.

Share mobile towers- A call to the service providers

2009-01-19T07:18:00.000-08:00

Navi Mumbai Municipal Corporation (NMMC) has send notices to more than 15 mobile service providers for putting up mobile towers illegally. Some of the towers put up by Reliance and Idea were dismantled. Good move, though it is a little late awakening. The towers are erected on the terraces of buildings without permission from the authorities. The number of the mobile towers has been increasing in residential pockets in Mumbai without any control and concern. The people do not actually know who to approach for redressal.

It is true that a little Radio frequency radiation emitted by the towers is not fatal. Researches so far conducted on the effect on the human body (such as induction of cancers/tumors) of long-term exposure to radio frequency radiation are not showing any conclusive evidence of the health effects. Keeping in mind the uncertainty and the gaps in our knowledge about the health effects of exposure to the RF radiation, it is necessary to control its manufacture and usage (in terms of time /day) through regulation. The mobile towers should not be permitted to be put up in residential areas.

The best option may be to share limited number of towers, allowed to put-up in areas where the population density is less.

Farm loan waiver –Justified?

2009-01-17T02:13:00.000-08:00

India government earlier brought out a package of whopping Rs.70,000 as farm loan waiver to curb increased number of suicides among farmers. It was reported that the farmers were in debt and were unable to pay back the loans taken from the banks. It is well known that the suicides were reported by the farmers who were in debt from the village money-lenders, rather than from the banks. The loan waiver was mainly cashed-in by the rich middle men and the bank officials. The actual farmers remained in debt and were unable to pay back the loan due to many reasons, some are self-made, and some are natural. The banks were unable to take such a heavy burden.

Under such circumstance, whether it is justified the loan waiver of Rs.6000 Crore announced again in last December by the Maharashtra Government? No. The money is being diverted from the much needed infrastructure projects! It is just vote-bank politics, and money making technique by the corrupt politicians and their “chelas”. .

Drug companies agree for ethics code

2009-01-15T03:59:00.000-08:00

Drug promotional activities, such as doling out expensive gifts and foreign trips to doctors are rampant among the drug companies. This practice existed for years and the doctors over-prescribe these costly medicines to patients. It is felt that the government should intervene to curb this menace legally. The Supreme Court has also directed the government to take steps to control price of essential life saving medicines.

The drug company associations have now agreed to frame a uniform Code of Ethics and promises to ensure its effective enforcement, as a matter of self regulation. But, in India self regulation never worked in the past. The government has set up a group of ministers to formulate the “pharma policy” to control the price of life saving drugs and take stringent action against any drug company which deviates from the code of ethics. Now, how to ensure that the medical doctors also follow certain code of conduct so that the patients get a “fair deal” in medical management.

Governments are too lenient on Satyam?

2009-01-13T04:15:00.000-08:00

The way, the government of India and the Andhra Pradesh government is falling-over each other to save Satyam and the fraudsters is really surprising and pointing to involvement of bigger political players in the Rs.7000 Crore fraud. This seems to be only the beginning of more such frauds surfacing in the days to come. Wipro is already in line. The central government continues to subsidize state-owned oil companies incurring loss of thousands of Crore of ruppees to save them from bankruptcy. At this rate, the government will be printing currency notes and go itself “bankrupt” similar to USA, which went on printing dollars to finance the Iraq war and other commitments world-wide. The much appreciated capitalism is going down the drain just because some private players are misusing the system in connivance with the corrupt government and regulatory officials.

Tax payers expect the governments come down heavily on the so-called CEOs and guilty officials immediately so as to build-up the public and client’s confidence in the corporate governance.

Ramalingam Raju’s Satyam

2009-01-07T02:05:00.001-08:00

Fraud of the order of Rs.7,000 Crore by Ramalinga Raju of Satyam Computer Services came to light today, devastating the client’s and investor’s confidence in the IT sector in general, and of course Satyam in particular. The books were manipulated and the company almost raising its hands expressing utter hopelessness.

Government of India and the market regulator, SEBI should immediately intervene to sustain the domestic and foreign client’s confidence so that the face of Indian IT sector is not tarnished beyond repair. The government should immediately appoint a non-Satyam CEO, and investigate the fraud committed on the gullible investors by the Company in collusion with the auditors, bankers and the Board members for so long. The suspects in the fraud should be put behind the bars for a while so that they do not run away. The jobs of the employees should be protected.

Doctors are unethically “obliged”

2009-01-06T04:14:00.000-08:00

It is well known that the pharmaceutical companies are offering “freebies” to doctors, thus obliging them to prescribe their products. There was a report in the Times of India on the subject. The freebies depend on the quantity of the product prescribed, and it can be as expensive as a “trip abroad for two”, “free travel for conferences”, etc. Naturally, this unnecessary promotional expenditure results in enhanced market price of the drugs which is ultimately passed on to the consumer (a patient). For some undisclosed reasons, the India government is very soft in tackling this unethical practice being “practiced” by the doctors, chemists and the pharma companies. This is unacceptable and unethical marketing practice which should be curbed.

The Indian laws to prevent such malpractices are vague in terms of false assurances by the stakeholders of self-regulation and medical ethics. The two concerned organizations, viz., Indian Drug Manufacturers Association (IDMA) and Organization of Pharmaceutical Products of India (OPPI) are not doing enough to curb this menace.

It is time that the Drug Controller General of India should bring in strict regulations, and penalties (such as, blacklisting of the erring doctors and pharma companies) to stop companies from offering of freebies to doctors.

Inefficient fuel subsidies to end in India

2009-01-06T02:45:00.000-08:00

The Prime Minister’s top economic adviser said that the retail fuel prices will not be controlled by the government and instead it will be linked to the global crude oil price variations. It seems to be good move at present situation when the crude oil is just over US$45 a barrel and inflation at a 10-month low of 6.38% as on the week ending on December 20, 2008. It is likely that the government may declare a further cut in petrol and diesel prices for the second tome in a month. Good for the consumers.

The oil price was over US$140 in July 2008 and the state-owned crude oil refiners were selling the fuel below the cost. The government is subsidizing the fuel prices so that consumers are not made to pay the higher fuel prices when the crude oil price sky-rocketed in mid-December last year. India’s 75% of the energy needs are met by oil imports and the burden on the government is too much in this inefficient system of subsidies. The government also needs to address the concerns of the oil companies with shrinking profits and downgrading of the credit ratings. De-linking of the oil pricing mechanism from the government pricing control seems to be good policy move.

Indian stocks & selected business news extracts (December 24, 2008)

2008-12-24T03:34:00.000-08:00

Weakness in the trading continues at stock exchanges in Mumbai. The Bombay Stock Exchange’s benchmark index, Sensex closed at.9568.7, down by 118 points. The NSE’s Nifty-50 closed at 2916.8, down by 51.8 points. In bullion market, the yellow metal is being quoted at Rs.12,927/10gm and silver at Rs.17,150/kg. Crude oil was trading low. Nymex crude was trading at around 38 US dollars a barrel. The US dollar was at around Rs.48.

Fortis Healthcare Board approves issue of Right shares worth Rs.1000 Cr to fund current projects.

Government to infuse stimulation to boost domestic demand through duty cuts. Likely hike in tax exemption.

World Bank debarred the Hyderabad-based Satyam Computer Services for 8 years for lack of documentation on invoices and improper benefit to the bank staff.

Selected Indian business news extracts (December 23, 2008)

2008-12-23T03:15:00.000-08:00

Weakness in the trading continues at stock exchanges in Mumbai. The Bombay Stock Exchange’s benchmark index, Sensex closed at.9686.75, down by 241.6 points. The NSE’s Nifty-50 closed at 2968.6, down by 70.6 points. In bullion market, the yellow metal is being quoted higher at Rs.13,168/10gm and silver at Rs.17,782/kg. Crude oil was trading low. Nymex crude was trading at around 39.9 US dollars a barrel. Expect commodity prices to fall on global slow down. The US dollar was at around Rs.48.8.

Transfer of spectrum allowed within group entities for 3G, broadband services – says DoT

Foreign Exchange Reserve position is comfortable – says Government Eco Panel Head.

RIL D6 Block gas output is likely to commence by January, 2009. Reliance Communications GSM plans to be launched shortly in 100 cities in India. Trials are on.

Selected Indian business news extracts (December 22, 2008)

2008-12-22T03:28:00.000-08:00

Wide-spread losses witnessed today in stocks trading at stock exchanges in Mumbai. The Bombay Stock Exchange’s benchmark index, Sensex closed below 10,000, at.9928.3, down by 171.5 points. The NSE’s Nifty-50 closed at 3039.3, down by 38.2 points. In bullion market, the yellow metal is being quoted higher at Rs.12,963/10gm and silver at Rs.17,765/kg. Crude oil prices flared up. Nymex crude was trading lower at around 42.6 US dollars a barrel. Money market was subdued. The US dollar was at around Rs.47.9.

Current crude prices are straining the margins: says ONGC Chief.

Reliance Industries Limited is under pressure from US to cease gasoline shipments to Iran. Reliance at times provided as much as 30% of Iran’s need for imported petroleum.

Anil Ambani incorporated National Agriculture Produce Marketing Company (APMC), a subsidiary of Reliance Money, to offer spot trading in agro produces, initially on a sate by state basis. The exchange will start operations in select commodities such as castor and sesame in Gujarat. .

Selected Indian business news extracts (December 19, 2008)

2008-12-19T03:22:00.000-08:00

The Sensex continues to be above 10,000. Wide-spread gains in all sectors such as realty and auto. The Bombay Stock Exchange’s benchmark index, Sensex closed at 10,099.9, up by 23.5 points. The NSE’s Nifty-50 closed at 3077.5, up by 16.7 points. In bullion market, the yellow metal is being quoted at Rs.12,757/10gm and silver at Rs.17,457/kg. Nymex crude was trading lower at around 36.1 US dollars a barrel. The US dollar was at around Rs.47.2.

Chanda Kochhar is appointed as MD and CEO of ICICI bank till March 2014. All the best to Chanda. K.V. Kamth is named non-executive Chairman.

Reliance Industries Limited is right-sizing its work-force. New investments such as semi-conductor business are on hold.

India government is likely to table The Insurance Bill in February, 2009. Foreign Direct Investment is to be hiked to 49% from 26% at present.

Selected Indian business news extracts (December 18, 2008)

2008-12-18T05:53:00.000-08:00

The Sensex closes above 10,000 today. Wide-spread gains in all sectors. The Bombay Stock Exchange’s benchmark index, Sensex closed at 10,076.4, up by 361.1 points. The NSE’s Nifty-50 closed at 3060.7, up by 106.4 points. In bullion market, the yellow metal is being quoted at Rs.13,184/10gm and silver at Rs.18,050/kg. Nymex crude was trading lower at around 40.2 US dollars a barrel. The US dollar was at around Rs.47.

More duty cuts expected, says the Finance Minster.

Indian Government is bringing out News Telecast norms. Self regulation is best regulation.

IMS Health, the reference point for global pharmaceutical business data and intelligence, has reported that the annual prescription sales of generics grew by only 3.6% as compared to 11.4% for the corresponding period a year ago.

Selected Indian business news extracts (December 17, 2008)

2008-12-17T06:59:00.000-08:00

The stock markets in Mumbai witnessed fall in almost all stock prices. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9715.3, down by 261.7 points. The NSE’s Nifty-50 closed at 2954.3, down again by 87.4 points. In bullion market, the yellow metal is being quoted higher at Rs.13,210/10gm and silver at Rs.18,002/kg. Nymex crude was trading lower at around 43.1 US dollars a barrel. The US dollar was at around Rs.47.6.

As per the report, Satyam’s deal with Maytas Infra is called off due to opposition from the Satyam’s Board. The stock was being traded at 30% lower than yesterday’s price.

Anil Dhirubhai Ambani Group (ADMG) could face hefty fine if the Directorate of Enforcement (ED) proves charges of illegal withdrawals from their foreign bank accounts.

A lot is expected from Reliance and ADMG to the shareholders on Dhirubhai Ambani’s birthday which falls on December 28. RPL may go on stream on that day.

Selected Indian business news extracts (December 16, 2008)

2008-12-16T03:28:00.000-08:00

The stock markets in Mumbai witnessed smart recovery, sensex hits 10,000-mark at the day’s high. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9976.9, up by 144.6 points. The NSE’s Nifty-50 closed at 3041.7, up again by 60.5 points. Gainers are stocks from Cement, Realty, Technology and Oil &gas sectors. In bullion market, the yellow metal is being quoted at Rs.12,867/10gm and silver higher at Rs.17,449/kg. Nymex crude was trading lower at around 44.7 US dollars a barrel. The US dollar was at around Rs.48.

HCl Technology completes AXON Group buy-out.

DoT, Government of India seeks audit of Reliance Comm’s revenues. As per the report, discrepancy of over 23% was seen in Mobile’s revenues.

Enforcement Directorate (ED) probes misuse of UBS, AG, London accounts – Money laundering probe. RNRL, Reliance Energy are under the ED scanner for possible FEMA violations.

Selected Indian business news extracts (December 15, 2008)

2008-12-15T03:02:00.000-08:00

The stock markets in Mumbai witnessed smart recovery. Strong start to the week. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9832.4 up by 142.3 points. The NSE’s Nifty-50 closed at 2981.2, up by 59.8 points. In bullion market, the yellow metal is being quoted at Rs.12,861/10gm and silver higher at Rs.17,269/kg. Nymex crude was trading higher at around 48.5 US dollars a barrel. The US dollar was at around Rs.48.1.

It is predicted that India is going out-perform other emerging markets. Government is offering sops to stimulate growth.

PSU Banks are offering new home packages with more sops to stimulate demand in housing sector. Interest rate for housing loans upto 5 lakh not to exceed 8.5%.

Indian infotech sector is main focus of Chinese spying. The computers of top executives are being compromised by Chinese hackers and privileged information is being leaked out – corporate espionage is on the rise (DNA News).

Indian nuclear power sector for private players

2008-12-12T04:14:00.000-08:00

GVK Power & Infrastructure is in talks with global majors for collaboration in nuclear power generation as per the Executive Chairman of the firm. Already Indian companies such as Reliance Power and Tatas are planning to enter into the nuclear power sector. The sector is now expected to open up in a big way with the India signing of nuclear deals with US, France and Russia.

India should hurry up with the legal and regulatory changes required to be made for application of radiation for power generation in private sector. Trained man power availability in this specialized field needs to be ensured by the concerned agencies. Any investment in nuclear power sector also should take into account the higher gestation period, of the order of 8-10 years.

Selected Indian business news extracts (December 12, 2008)

2008-12-12T03:32:00.000-08:00

The stock markets in Mumbai today witnessed smart recovery after initial slide. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9690, up by 44.6 points. Banks, fertilizer stocks recovered. The NSE’s Nifty-50 closed flat at 2921.3, up by 1.2 points. In bullion market, the yellow metal is being quoted at Rs.12,677/10gm and silver at Rs.16,938/kg. Nymex crude was trading at around 44.9 US dollars a barrel. The US dollar was at around Rs.48.5.

Final bids for 3G will be on January 5, 2009. 3G memorandum released.

For the first time, IIP for October was negative, indicating setback for economy. Howevr, the expected IIP for the next three months is 2-4%.

Selected Indian business news extracts (December 11, 2008)

2008-12-11T03:38:00.000-08:00

The stock markets in Mumbai were choppy. The Bombay Stock Exchange’s benchmark index, Sensex closed today at 9645.5, down by 9.4 points. The NSE’s Nifty-50 also closed flat at 2920.15, down by 8.1 points. In bullion market, gold dazzles. The yellow metal is being quoted at Rs.12,800/10gm and silver at Rs.17,332/kg. Nymex crude was trading at around 43.8 US dollars a barrel. The US dollar was at around Rs.48.4.

Inflation eases again. Inflation falls to 7-month low of 8% from 8.4%, for the week ended on November 29, 2008.

Monetary policy steps yielded positive results, says Governor, Reserve Bank of India. Banks consider lending rate cuts for housing and small business. Second economic stimulus package next week, says Commerce Minister.

Selected Indian business news extracts (December 10, 2008)

2008-12-10T03:06:00.000-08:00

The stock markets in Mumbai were going strong. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9654.9, up by 492 points. The NSE’s Nifty-50 also closed higher at 2928.2, up by 144.2 points. In bullion market, gold is being quoted at Rs.12,441/10gm and silver at Rs.16,956/kg. Crude prices were volatile. Nymex crude was trading at around 43 US dollars a barrel. The US dollar was at around Rs.50.

A US business daily reported that the former CEO of Vodafone Group, Arun Sarin is among those being considered by board members at Yahoo to take the top job at the internet firm.

Sony Corporation plans to eliminate 16,000 jobs in the largest reduction announced by a Japanese company since the onset of recession world wide and the credit crunch.

Selected Indian business news extracts (December 8, 2008)

2008-12-08T03:03:00.000-08:00

The stock markets in Mumbai were going strong today. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9162.6, up by 197.4 points. The NSE’s Nifty-50 closed at 2784, up by 69.6 points. In bullion market, gold is being quoted at Rs.12,323/10gm and silver at Rs.16,875/kg. Nymex crude was trading low at around 43.2 US dollars a barrel. The US dollar was at around Rs.50.

PM declares economic stimulus package to boost infrastructure. The government announced 4% cut in Cenvat rate to boost demand of commodity in the domestic market. Steel prices to come down. Auto prices to fall by 4% or more.

Mumbai needs a CEO to fight terrorism

2008-12-07T03:44:00.000-08:00

The great Mumbai city was leaderless for three days during the terrorist’s war on the city. Media took full control and of-course is still trying to get some concrete action plan for city’s security. The city Mumbai generates a significant fraction of the revenues for the state and central government.

It is in everybody’s knowledge that the corruption and indifference attitude of the politicians and bureaucrats are responsible for the sorry state of affairs in Mumbai. When politicians of Narayan Rane's kind talk, filth comes out! Until now, even the public was indifferent to the severe civic and security problems facing the mega city. Now that the members of the public are aware of their responsibilities (thanks to the media), the City needs a Good CEO to steer the city to a safe, secure and prosperous destination.

If Indian industry can hire a good CEO of the kind Nandan Nilekani to steer their empires to prosperity, why not a CEO for Mumbai to empower the city to win the battle against terrorism? It is possible.

Selected Indian business news extracts (December 3, 2008)

2008-12-03T02:51:00.000-08:00

The stock markets in Mumbai were choppy. The Bombay Stock Exchange’s benchmark index, Sensex closed at 8747.4, up 8.2 points. The NSE’s Nifty-50 closed at 2656.4, down by 1.35 points. Commodity markets were volatile. In bullion market, gold is being quoted at Rs.12,523/10gm and silver at Rs.16,100/kg. Crude and edible oils decline sharply. Nymex crude was trading low at around 47.2 US dollars a barrel. The US dollar was at around Rs.50.

The US based global power major is believed to be interested in acquiring some fresh assets in India. The company is negotiating with the Chennai-based Indo Tech Transformers to buy out the promoter stake.

British Airways is in talks with Australia’s Qantas Airways about a potential merger of the airlines.

Terrorism insurance risk cover

2008-12-02T22:40:00.000-08:00

Spate of terrorist attacks across India has resulted in people rushing for terrorism insurance risk cover for property. The insurance companies cover the risk through Common Terrorism Insurance Pool of Rs.1,200 Cr. The spate of claims is bound to deplete the pool. It is reported that the Insurance Regulatory Development Authority (IRDA) is planning to meet soon to discuss the modalities of revising the rates for providing the terrorism insurance risk cover.

In India, there are 12 public and private sector insurance companies that provide the insurance cover as an add-on cover to the standard fire insurance policy. The premium is Rs.0.21 per Rs.1000 insured. This is going to be raised.

Selected Indian business news extracts (December 2, 2008)

2008-12-02T02:43:00.000-08:00

Asian markets ended deep in the red. The stock markets in Mumbai recovered by 300 points from the day’s low. Infra and realty stocks gained. The Bombay Stock Exchange’s benchmark index, Sensex closed at 8739.2, down by 100.6 points. The NSE’s Nifty-50 closed at 2657. 8, down by 25.1 points. In bullion market, gold is being quoted at Rs.12,488/10gm and silver at Rs.16,022/kg. Nymex crude was trading low at around 48.7 US dollars a barrel. The US dollar was at around Rs.50.

The Mumbai-based Tata Motors, the makers of Jaguar and Land Rover vehicles, will borrow $1.2 billion to refinance debt from the acquisition.

Recession in the US and Europe has begun to affect India with exports declining 12% in October. Imports registered 10.6% growth in October over the previous year.

Accident insurance – cover for terrorist attacks

2008-12-01T23:45:00.000-08:00

Following the terrorist attack in Mumbai, financial advisors are flooded with questions on accident insurance, such as whether personal accident insurance covers injuries sustained in terrorist attacks. Some say “public sector companies cover it, but private sector firms don’t”. The agents may take gullible public for a ride if one is not inquisitive while buying the insurance cover.

One should confirm from the respective insurance company that the coverage exists or not. It is also suggested that as a guideline, the quantum of personal insurance cover should be at least 3 to 4 times the annual income since most handicap benefits are a percentage of the total cover.

Selected Indian business news extracts (November 28, 2008)

2008-11-28T04:11:00.000-08:00

Mumbai was under siege yesterday by the terrorists. The stock markets in Mumbai remained closed. However, the city has taken this in its stride and today stock markets somewhat rallied. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9092.7, up by 66 points. The NSE’s Nifty-50 closed at 2755, up by 2.8 points. In bullion market, gold is being quoted at Rs.13,000/10gm and silver at Rs.17,037/kg. Nymex crude was trading at around 53.3 US dollars a barrel. The US dollar was at around Rs.50.

India's inflation eases to 6-month low of 8.84% in the week closing November 15, 2008.

The terrorist attack on two iconic South Mumbai hotels, Oberoi and Taj may impact adversely the hotel business, aviation and tourism industry in general.

Indian-born billionaire Lakshmi Mittal has put on hold his investments in the $10billion refinery-cum-petrochemical project planned in Vizag on fears of a recession.

Selected Indian business news extracts (November 26, 2008)

2008-11-26T03:53:00.000-08:00

The Bombay Stock Exchange (BSE)’s benchmark index, Sensex closed with a strong note, at 9026.7, up by 331.2 points. The NSE’s Nifty-50 closed at 2752.2, up by 98.2 points. In bullion market, gold is being quoted at Rs.12,990/10gm and silver at Rs.17,200/kg. Crude prices are getting stabilized. Nymex crude was trading at around 51.6 US dollars a barrel. The US dollar was at around Rs.49.5.

Situation is conductive for fuel price cut, says Indian Petroleum Minister.

The government expects Rs.35,000 Cr from the 3G auction, says Communications Minister.

Mukesh Ambani to start second oil refinery.

Transporters across the country are planning to suspend their operations indefinitely with effect from December 21, 2008. Their demands include reduction in diesel prices, and 6 months moratorium on monthly installments towards repayment of truck finance.

Unfair trade practice by beauty-products manufacturers

2008-11-25T23:34:00.000-08:00

For years, the companies such as P & G, Hindustan Unilever, and Ponds have been playing on the consumer’s preference (?) for white skin with false claims in the advertisements. A good example is Fair and Lovely advertisement. One of my friends with dark skin has used the cream for over 2 decades without any change in the color. The latest products to hit the market are: Olay Total Effects (anti-ageing cream) and some Garnier products.

It is high time that the consumers forward their grievances to the industry watchdog Advertising Standards Control of India (ASCI) and prevail upon to take stringent actions against these companies for unsubstantiated claims through the advertisements. In general, such advertisements need to be regulated.

Selected Indian business news extracts (November 25, 2008)

2008-11-25T04:19:00.000-08:00

The Bombay Stock Exchange’s benchmark index, Sensex closed at 8695.5, down by 207.6 points. The NSE’s Nifty-50 closed lower at 2654, down by 54.2 points. Weak economic data and recession fears continue to grip the market. In bullion market, gold is again volatile and it is being quoted at Rs.13,123/10gm and silver at Rs.17,560/kg. Crude prices stabilized. Nymex crude was trading higher at around 52.3 US dollars a barrel. The US dollar was at around Rs.50.

Citi gets $306 billion lifeline approval from US Federal regulators. Citi shares jump 60% in NYSE. US government however, puts a cap of 1% per share on the dividend. Citibank India is doing well.

Air India and Kingfisher Airlines are planning to bring down the fare by 12-15%.

India’s largest lender State Bank of India said that it has entered into a joint venture with Insurance Australia Group for its foray into the general insurance business.

Selected Indian business news extracts (November 24, 2008)

2008-11-24T03:26:00.000-08:00

The Mumbai Stock Exchange’s benchmark index, Sensex closed at 8903, down by 12.1 points. The NSE’s Nifty 50 closed slightly higher at 2708, up by 14.8 points. Weak economic data and recession fears are gripping the market. In bullion market, gold is volatile and it is being quoted at Rs.13,078/10gm and silver at Rs.16,826/kg. Gold is considered as safe heaven investment. Crude prices eased further. Nymex crude was trading low at around 49.89 US dollars a barrel. The US dollar was at Rs.50.06.

Cobra beer business is up for sale for an estimated 200 million Pounds.

Citi India has equity assets in over 130 companies are worth Rs.8.6 thousand Crores. The Citi Group still holds $20 billion of mortgage-linked securities on its books.

Selected Indian business news extracts (November 14, 2008)

2008-11-14T02:43:00.000-08:00

The Mumbai Stock Exchange’s benchmark index, Sensex slipped further down today. The sensex remained below the 10,000 level, at 9385.4, down by 150.9 points. The NSE’s Nifty 50 closed lower at 2810, down by 38 points. Banking, auto and realty stocks were down. In bullion market, gold is being quoted at Rs.11,653/10gm and silver at Rs.16,230/kg. Crude prices eased further. Nymex crude was trading low at around 57.6 US dollars a barrel. The US dollar was at Rs.49.

Inflation in India slowed down to 8.98% in the week ended November 1, 2008. It is the first time in 5 months that the inflation is at single digit.

The government is planning to impress upon the banks to accelerate lending to realty sector which is facing acute shortage of funds.

Global financial think tank,G20 plan to meet this weekend. It is an emergency summit to decide on how to contain the damage from the global financial crisis. Indian Prime Minister will be present at the summit.

Selected Indian business news extracts (November 7, 2008)

2008-11-07T07:46:00.000-08:00

The Mumbai Stock Exchange’s benchmark index, Sensex showed upward trend today. However, the sensex remained below the 10,000 level, at 9964.2, up by 230 points. The NSE’s Nifty 50 closed higher at 2973, up by 80.3 points. In bullion market, gold is being quoted at Rs.11,549/10gm and silver at Rs.16,970/kg. Crude prices eased further. Nymex crude was trading low at around 62 US dollars a barrel.The US dollar was at Rs.47.6.

There is slowdown everywhere in the industry. Companies, such as Ashok Leyland, Tata Motors, are reducing production of commercial vehicle.

Home, auto and other loans are set to get cheaper. The public sector banks cut PLR by 75 BPS. This will translate into lowering of EMIs. Slashed rates may boost realty sector.

Selected Indian business news extracts (November 6, 2008)

2008-11-06T03:54:00.000-08:00

The Mumbai Stock Exchange’s benchmark index, Sensex showed high volatility today. The sensex closed again below the 10,000 level, at 9734.2, down by another 385.8 points. The NSE’s Nifty 50 closed lower at 2892.6, down by 102.3 points. There were overall loses in the market. In bullion market, precious metals were also subdued and gold is being quoted at Rs.11,519/10gm and silver at Rs.17,046/kg. Crude prices eased further. Nymex crude was trading low at around 64 US dollars a barrel. The US dollar was at Rs.47.66.

Bill Gates says that the recession in US will not last long. It may be there for 6 months.

Foreign and private sector banks expressed their inability to reduce lending rates citing non-availability of liquidity.

Slump in demand for steel forces world’s largest steel maker Arcelor Mittal to cut production by one-third. Commercial vehicles makers cut production. Hyundai feels the heat on the exports of cars as Europe also slips into recession. New auto export hub in Gujrat.

Obama win may boost carbon market. Indian projects could get access to clean technology from the US, depending on how soon the Democrats come up with a plan of action on global warming.

Selected Indian business news extracts (October 23, 2008)

2008-10-23T05:50:00.000-07:00

The Mumbai Stock Exchange’s benchmark index, Sensex is going down a bottom-less pit. The sensex closed below the 10,000 level, at 9771.7 down by another 398 points. The NSE’s Nifty 50 closed at an unbelievable level of 2943, down by 122 points. There were overall loses in the market. In bullion market, precious metals were also subdued and gold is being quoted at Rs.11,570/10gm and silver at Rs.16,911/kg. Crude prices eased further. Nymex crude was trading low at around 67 US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.49.8.

The inflation is easing and it stood at 11.07% as on October 11, 2008. Aviation industry is expecting fuel price cut in view of the decline in crude oil prices.

IT companies, WIPRO and TCS report increase in profit for Q2.

External Commercial Borrowing (ECB) norms are further liberalized to facilitate telecom License fee for 3G spectrum.

Selected Indian business news extracts (October 13, 2008)

2008-10-13T04:24:00.000-07:00

There were overall gains in the stock markets in Mumbai’s Dalal Street. The Mumbai Stock Exchange’s benchmark index, Sensex closed at 11,332, up by 804 points! The NSE’s Nifty 50 closed at 3490.7, up by 210.7 points. India government may ban short-selling of stocks to control market slide.

In bullion market, precious metals were subdued today and gold is being quoted at Rs.13,249/10gm and silver at Rs.18,460 /kg. Nymex crude was trading low at around 81US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.48.1. Cotton declines.

European markets also gain. UK government brings out $64 billion lifeline for banks to build trust and confidence in the banking system. The Indian private banking giant says that the ICICI financial health is stable and there are no loan defaulters in foreign operations.

Selected Indian business news extracts (October 8, 2008)

2008-10-08T06:38:00.000-07:00

Stock markets were choppy in Mumbai’s Dalal Street. The stocks crashed further to a new low level. The Mumbai Stock Exchange’s benchmark index, Sensex closed at 11,328, down by another 367 points. The NSE’s Nifty 50 closed at 3513, down by 92.9 points. In bullion market, precious metals flared up and gold is being quoted at Rs.13,892/10gm and silver at Rs.19,735 /kg. Nymex crude was trading low at around 87 US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.48.0.

IMF cuts down India’s GDP forecast for 2008 to 7.9% from 8.0%.

International Airport to come up at Tirupati. Good for NRIs and tourists to India. They can have Balaji’s Darshan first.

Selected Indian business news extracts (October 7, 2008)

2008-10-07T09:04:00.000-07:00

Stock markets were choppy in Mumbai’s Dalal Street. The stocks crashed to a new low level. The Mumbai Stock Exchange’s benchmark index, Sensex closed at 11,695, down by another 105 points. The NSE’s Nifty 50 closed at 3606, up by 4.2 points. In bullion market, gold is being quoted at Rs.13,441/10gm and silver at Rs.19,289/kg. Nymex crude was trading low at around 90 US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.47.9.

The Indian stock market regulator, SEBI has removed the restrictions on issuing participatory notes (P-notes) by foreign investors to ease foreign fund inflows.

Tata’s Nano plant is shifting to Ahemdabad, Gujarat. West Bengal’s loss is Gujarat’s gain. Tatas are planning to manufacture 2.5 to 3 lakh cars in the first phase.

Revenue collection by direct taxes in India is up by 32.54% during the first half of the current fiscal. Corporate tax contributed significantly.