Secret Negotiations Continue Despite Truce with Left
Prime Minister Manmohan Singh is likely to speak to US President George W Bush on the nuclear issue
Palash Biswas
Contact: Palash C Biswas, C/O Mrs Arati Roy, Gosto Kanan, Sodepur, Kolkata- 700110, India. Phone: 91-033-25659551
Email: alashbiswaskl@gmail.com">palashbiswaskl@gmail.com
CPI(M) general secretary Prakash Karat has pulled off a major political victory.But secret Nnegotiations on Nuke Deal continues despite Truce with the Left! Given his determination to bring down the government, there is no doubt that the left parties would have withdrawn support and then arranged to introduce a no-confidence motion in Parliament the moment the government started safeguard negotiations with the IAEA. It was also clear that the Left would have voted along with the ‘communal’ BJP-led NDA to bring down the government. It is the misinformation campaign while the Truth remains the same as the Ruling classes, Left as well as right, have no alternative but to save US interests. So much happen to be on the stake besides the Imperialist Agenda of Post Modern Galaxy Manusmriti Order led by United States Of America!
Prime Minister Manmohan Singh is likely to speak to US President George W Bush on the nuclear issue on Monday night. The talks come in the backdrop of the latest comments by Manmohan Singh at the leadership summit organised by a leading national newspaper.THE IMPRESSION given by the Prime Minister Manmohan Singh and Congress president Sonia Gandhi at a newspaper’s conclave that they were determined to continue their government for a full-term may not put an end to the ongoing speculations for midterm poll. That also may not be to put Indo-US Nuclear deal at cold storage. Singh had said that in life one had to live with disappointments hinting that the nuke deal was not likely to come through at the cost of the government.Unveiling his new vision of ties with Nigeria, Prime Minister Manmohan Singh on Monday said the two countries should seek to upgrade their cooperation on security matters to meet the emerging threats of terrorism and challenges to social fabric.India and Nigeria are expected to sign a defence pact and three other accords to upgrade bilateral ties during Prime Minister Manmohan Singh`s visit. Meanwhile,Bulls ran amok on Dalal Street, home to the country`s stock market, carrying the benchmark Sensex past the 19,000 mark milestone in a record four sessions, as investors bet heavily on blue chip stocks and political truce. UPA chairperson Sonia Gandhi had also ruled out the possibility of mid-term polls in the context of the nuclear deal.After having decided not to take its battle with the Left over the India-US nuclear deal to breaking point, however,Congress may still have to formally communicate this position to the comrades whose support is crucial for the survival of the Manmohan Singh government. Despite both Prime Minister Manmohan Singh and Congress president Sonia Gandhi ruling out early polls and making it evident that the deal would not take precedence over survival of the government at a public function last week, the Left leaders are expecting to be told as much, in so many words.As of now the Congress party’s strategists were working on two things — first, they were assessing the impact of the confrontation and the subsequent fallout if the party decided to go to the polls. Secondly, they were trying to find out if the government could survive without the Left in the Lok Sabha. It seems that the game was up as far as numbers were concerned. If BJP wins in Gujarat and Himachal Pradesh elections and Congress fails to get control over Karnataka politics, it would be difficult for the party to maintain its lead in the national politics after one and half years. This made them to opt for midterm poll.
Following these comments, the government was criticised for allegedly “backtracking” on the issue. This was because earlier, the main party of the coalition, which is the Congress, had forcefully advocated the operationalisation of the deal. This was in spite of the Left, which is lending crucial external support to the government, having voiced its opposition to the same. Accusing the Congress-led UPA government at the Centre of buying time from the Communists to go for a snap poll, BJP said it was prepared to face mid-term elections though the party was against it at this juncture.Though presently Congress was forced to look like bowing down to the left pressures, it may be inevitable for them to go for mid term poll. Presently it was number game more than the left parties over the nuclear deal made the Prime Minister Manmohan Singh’s ‘U turn’.This has only exposed that how the UPA Government was plagued by inherent contradictions. The party is seems to be waiting for the out come of assessment of the public mood in the post-Rama Sethu row.Mayawati only recently declared her intention of keeping an eye on Delhi seat. In the event of hung parliament with neither UPA nor NDA able to form government without her support, she would naturally prefer back those who support her for Prime Ministership.At the same time, no one was sure whether Mayawati would go with the Congress on the nuclear deal after her recent tantrums. Even the secret negotiations with Samajwadi leaders were not re-assuring. But no one is certain whether life will continue as usual when the Parliament meets in November for its Winter Session.
The Left has stated that it was against the deal as US domestic law, the Hyde Act was in conflict with the 123 Agreement. And the Hyde Act according to the Left parties was not in the interest of India. There have been a number of meetings between the Left and the UPA to discuss nuke deal with the Left vehemently against formal negotiations with the IAEA to discuss safeguards. A joint panel formed by the government which also comprises the Left parties, has been confabulating on the issue. The next meeting is slated for October 22 of the panel. Prior to the summit, the latest comment on the controversial deal had come from veteran Left leader A B Bardhan that the government had assured the Left of not proceeding further on the deal until a compromise is reached by the joint panel on the matter. As of now, though the deal has been well and truly put on the backburner, the next meeting of the UPA-Left committee is slated for October 22 and has not been called off. Though the Left may seem to be nitpicking as the Congress leadership has gone public with its views that the deal can wait, the government’s ‘‘Red’’ supporters feel that this has to be communicated to them.
If a senior government emissary, in the next few days, does inform the Left in an official manner that the deal would not be proceeded with, the four parties comprising the Left Front would meet to take a view. This is the position that Left has conveyed to the Congress emissaries who have acted as a bridge with the comrades. Senior Left leader in West Bengal, Biman Bose, said as much according to an agency report. He said the government’s stand would be made clear when the UPA-Left panel next met to discuss the ‘‘foreign policy’’ implications of the deal with the US.
The national secretariat of the Communist Party of India (CPI) on Sunday reiterated the Left parties opposition to operationalisation of the India-U.S. nuclear deal.
Two days after Prime Minister Manmohan Singh and United Progressive Alliance chairperson Sonia Gandhi discounted the possibility of an early election, the CPI said it had not received any formal communication from the government on any change in its position on the deal. “We will see what they have to say at the October 22 meeting of the UPA-Left committee on the deal,” CPI national secretary D. Raja said.
The meeting of the national secretariat was scheduled prior to Dr. Singh and Ms. Gandhi’s comments at the Hindustan Times Leadership Summit. It discussed the prevailing political situation, particularly with reference to the nuclear deal. Price rise was another issue that came up; particularly in the light of the party’s ongoing campaign against it.
The CPI national executive has been scheduled for October 29 followed by a two-day sitting of the national council from October 30.
On the other hand, A pact to jointly develop and produce a fifth generation fighter aircraft for the Indian and Russian air forces could be inked during Defence Minister AK Antony's four-day visit to Moscow Oct 16-19. The issue will figure prominently during the seventh meeting of the India-Russia Inter-Governmental Commission on Military Technical Cooperation (IRIGC-MTC) that will also discuss a range of issues relating to further ramping military ties, additional purchases of Russian defence hardware and cost escalations in deals that have already been inked, a senior official said.
Antony and his Russian counterpart Anatoly Serdyukov will co-chair the IRIGC-MTC meeting. Antony's trip will set the stage for Prime Minister Manmohan Singh's visit to Moscow in November for his annual summit with Russian President Vladimir Putin. External Affairs Minister Pranab Mukherjee had visited Moscow last week.
STOCKHOLM (Reuters) - American economists Leonid Hurwicz, Eric Maskin and Roger Myerson won the 2007 Nobel for economics on Monday for laying the foundations of an economic theory that determines when markets are working effectively.
Hurwicz, a Russian-born American citizen, is at 90 years old the oldest-ever recipient of a Nobel prize.
The Royal Swedish Academy of Sciences said the three established "mechanism design theory", which looks at how well different institutions fare in allocating resources and whether government intervention is needed.
Hurwicz initiated the theory and it was further developed by Maskin of Princeton University and Myerson of the University of Chicago, the academy's citation said.
Hurwicz, born in Moscow in the year of the Russian revolution, is a professor emeritus of economics at University of Minnesota in Minneapolis.
The economists will share a prize of 10 million Swedish crowns (765,000 pounds).
Mumbai:Indian stocks surged 3.5 percent on Monday, storming past 19,000 on the way to their 17th record high in 18 sessions, as the market celebrated easing fears of an early election and rode strong foreign investment inflows.Petrochemicals maker Reliance Industries and top private lender ICICI Bank led the gains.
The 30-share BSE index rose 3.47 percent, or 639.63 points, to 19,058.67, with 28 components gaining. The index, which only crossed 18,000 points for the first time last Tuesday, hit a record of 19,095.75 points during trade.
The leader of India's Congress party and the most powerful politician in the country, Sonia Gandhi, said on Friday she did not want an early election and was hoping to resolve differences with communist allies.
"When in 2004 we won the election we got together as a coalition, we made certain commitments to the electorate, to those who voted for us, and I think it's only fair we fulfill those commitments," she told a seminar in the Indian capital.
"We must do all we can to see to it that we complete those projects and those commitments and that we go till the end of our term which will come in 2009," she said. "No, we are not in favour of an early election."
The government's communist allies have threatened to withdraw crucial parliamentary support if it pushes ahead with a controversial civil nuclear cooperation deal with the United States.
But Gandhi echoed earlier comments from Prime Minister Manmohan Singh suggesting the government might not push the deal at the expense of its own survival.
"The position of the government and my position is that we are working in a coalition. We committed to the people to work for them for the full term and therefore we will try our best, we will work towards bringing a consensus with the left."
She said the nuclear deal "was just one issue within a large number of issues" which the government was pursuing, and said the government was trying to avoid confrontation with the left.
Abuja: It was the night the nearly 30,000-strong Indian community in Nigeria had been waiting for since they saw Jawaharlal Nehru in their midst 45 years ago. And their wish was fulfilled when Prime Minister Manmohan Singh toasted these "ambassadors of goodwill" who have acted as "the bridge that unites India and Nigeria."
“To the members of the Indian community let me say that India is proud of you. You are the bridge that unites India and Nigeria,” Manmohan Singh told enterprising and successful Indians who had come to listen to him from different parts of their adopted homeland in Nigeria on Sunday night.
"You have acquitted yourself most creditably. You have contributed to the development of friendship and goodwill between our countries," Manmohan Singh, the first Indian Prime Minister to come on a bilateral visit to India since Nehru in 1962, said at the glittering Hotel Hilton amidst repeated rounds of applause.
Manmohan Singh began his historic three-day visit to Nigeria on Sunday, a trip that is set to energise relations between India and Africa's oil capital and take bilateral ties to "a higher and qualitatively new footing."
Lauding the "remarkable adaptability and resilience" of Indian communities all over the world, Manmohan Singh promised them that India would do all it could to assure the safety and security of its citizens abroad - a veiled reference to the precarious security situation in the oil-rich Niger Delta where many Indians work in the oil industry.
There have been many cases of foreigners, including Indians, being kidnapped by militants operating in the Niger Delta.
"We have been assured at the highest levels of the host government that this is a matter that is being given high priority. Our mission will offer all necessary assistance to our citizens in distress," he said.
The Indian community in Nigeria has scripted a unique success story in Nigeria with "their initiative, enterprise and hard work".
Indian industry and business has emerged as the second largest employer in Nigeria. Nearly 22,000 Indians are settled in Lagos, the coastal city that is the country's business hub. Other cities Indians have made home in this country are Ibadan, Kaduna and the Nigerian capital Abuja.
"They enjoy a high social and economic standing in Nigeria," India's High Commissioner to Nigeria H H S Viswanathan said.
Indian teachers who came in the 1970s and 1980s have taught a generation of Nigerian leadership and elite and are fondly remembered in this country. The first wave of Indian migration started in the 1950s with mostly Sindhi traders setting their shop. Teachers and doctors followed in the 1970s and 1980s. The 1990s saw a more diverse mix of Indians coming in Africa's largest oil producing country with IT professionals topping the list.
The Prime Minister also enunciated his vision of shaping "a strong contemporary partnership" between India, the largest democracy in the world, and Nigeria, the largest democracy in Africa and praised "the openness of Nigerian society that has created an enabling climate for our people to do well and flourish".
Showcasing a strong and vibrant nation, which has entered a new phase, the Prime Minister invited the Indian community to contribute their "spirit, endeavour and enterprise in the services of your homeland".
Underlining the transformation of India's image in the world, the Prime Minister spoke about the surging confidence to sustain an economic growth rate of 9 to 10 percent in the days to come.
"We need this rapid economic growth to meet our socio-economic objectives and rid our country of chronic poverty. India offers limitless opportunities and is looking to its overseas communities to contribute to their might," he said.
NEW DELHI (Reuters) - Life is ebbing away from India's controversial nuclear cooperation deal with the United States after the government appeared to back down in a row with its communist allies to save itself from a snap election.
But in equal trouble, political analysts said, is the credibility of the government and of Prime Minister Manmohan Singh, who had staked his reputation on a deal which he had said future generations would look back on as historic.
Looking rather crestfallen, Singh seemed to back down at a seminar on Friday, saying it would be a disappointment if the deal did not go ahead, but that life would go on. His government, he said, did not want an early election.
"Dr Singh says it is not the end of life. Which is true enough, but it could be the end of Manmohan Singh," the Business Standard wrote in an editorial titled "A hostage in office".
"There is life after the nuclear deal? Sure," echoed the Indian Express. "But what kind of life?"
The government's communist allies had threatened to withdraw crucial parliamentary support if it pressed ahead with the deal, which would allow India to import U.S. nuclear fuel and reactors despite having tested nuclear weapons but not signed the Non-Proliferation Treaty.
For weeks the government seemed determined to face the left down. Earlier last week, Singh's Congress party and coalition leader Sonia Gandhi called opponents of the deal "enemies of development".
Then, in a meeting with the left last week, came the apparent flip-flop: more talks would be held with the left, and negotiations with the International Atomic Energy Agency -- crucial to the deal -- would remain on hold.
Friends,
This is a succinct summary of political situation by gopelalwani. For six decades we have seen (i) Politicians plundering the nation and going scot-free, year after year, (ii) Power without authority of some, (iii) Leaders devoid of leadership qualities (almost all leaders, prticularly the Left ones, belong to this category), (iv) A judiciary that considers itself above law, not even amenable to its own code of discipline, (v) A Police system that is power unto itself, as one reformist said, 'Dacoits in uniform' and (vi) The Indian Administrative Service with all the authority without any accountability and it runs from top to bottom. Where do we begin?
Seeking solutions through changes in the fundamental law of the land is a time taking, onerous task, with no guarantee of success. The US Presidential system, that so easily turned a vibrant democracy into a Police State without any one ever realizing it, is a glaring example of weaknesses nherent in any system, Parliamentary or Presidential.
Simple solutions are always overlooked: A major restructuring of Indian bureaucracy has been overdue by five decades. I don't see any reason why political partie should not have the right to determine appointment of top officials, heads of various ministries and departments and throw the positions open strictly on merit basis. Which essentially implies that passing the UPSC examination should strictly be viewed as a test of some ability but not competence; competence needs to be proved everyday, not just once. Secondly, w need a system within officialdom wherein competent officers are rewarded far more often. There are thousands of non-IAS officers in various Ministries, languishing at lower level, supervised by utterly incompetent, and contemptible IAS officers. This is the surest prescription for non-performance. Promote and reward competent officers. Thirdly, we need to delink rank with salary. I don't see any reason why a young bright IAS or PCS officer should not earn more than his boss if he/she is competent, motivated, and learns fast. In our profession (of management consulting), we do not penalise officers for making mistakes but reward those who are able to take hard decisions. 80: 20 rule. No one is God, even Gods make mistake. Everyone is enttled to make mistakes but responsible people accept and seldom repeat those mistakes. Finally, this is from my personal experience: If we did not have 15-18% absolutely upright, honest, totally dedicated, and extremely competent officers within our Police, bureaucracy and the army, we'd have been finished as a nation.
Let me support my contention: On this forum I have said several times that the US Government is world's largest criminal enterprise. A former officer of LAPD, Mike Ruppert, has documented how the CIA (world's largest drug runner) avoided transit route via India because of problems they might encounter with India's narcotic sleuths and the Police! Mike exposed the extent and depth of CIA and US Banks involvement in drug trade and money laundering. For his expose Mike faced harassment, destruction of his office, computers and data, and finally had to leave the US for some time. He had to close down his excellent news website 'From The Wilderness'.
Let us not condemn all and every Indian in positions of power and authority; some of them are doing an excellent job. As a former officer of the civil service in England, I found that more British civil servants were incompetent and utter deadwoods than I found here when I made India my home.
One last word: if we can can't reform the IAS, let us ensure that the services (IAS, IPS and IRS) are exclusively reserved for women. They will perform far better than Bihari and UP males from upper castes. At least they have more solid spine and are more humane than men folks.
Best regards
Arun Shrivastava
Manmohan Singh is paying a steep political price for his pursuit of a strategic partnership with the US. The Manmohan Singh government’s retreat on the Indo-US nuclear deal, after three years of do-or-die bravado, can only be explained by that adage: He who fights and runs away, lives to fight another day. Martyrs get memorials and medals, but they don’t get a second chance. Dr. Manmohan Singh and Mrs. Sonia Gandhi, sensibly, have opted for a second chance in preference to a charge of the light brigade toward immediate elections.
The only politician riding high now is Prakash Karat, and that is because he rode steadily through intense turbulence. That is always the litmus test in leadership, the ability to be steadfast in a crisis. He was steady because Marxists have a stabilizer called ideology. It would be incorrect to minimize the storms he was facing. If there was a typhoon charging at him in Delhi, there was a tornado behind his back, in Bengal.
Milestones of Sensex
Here is a look at the journey over the years.
19,000 on Oct 15, 2007: The Sensex has re-written history by recording its fastest 1,000 point surge this afternoon. The barometer, which crossed the 18,000 milestone in late afternoon trade on Tuesday last week (October 9, 2007), has taken just four sessions to scale the 19,000 mark. At 2:43 pm, Bombay Stock Exchange’s Sensex was up 582 points or 3.16 per cent at 19,000.94.
18,000 on Oct 09, 2007: The Sensex opened low this morning with a negative gap of around 89 points at 17,402.24 . However, riding on the strength of information technology majors and a few old economy heavyweights, the barometer bounced back into positive territory in subsequent trades. The bulls shrugging off the political concerns, lifted Sensex to a new high at 18000 mark on global cues. Predictions that the US economy would weaken and funds would continue to find India a safe haven has made the Sensex shoot past to cross 18K.
17,000 on Sep 26, 2007: Sensex soars to all-time high of 17,000 points on 26th September. Barely a week ago, on 20 September 2007 to be precise, the barometer had crossed the 16,000 mark after global markets turned upbeat following a 50 basis point cut in US bank rates.
16,000 on Sep 19, 2007: Sensex crosses the glorious milestone of 16,000 points on 19th of September on account of the positive global cues. The US Fed rate cut which triggered the rally, has driven the Sensex up 363 points at 16,032.
15,000 on Jul 06, 2007: As buying in blue chip stocks gathered momentum, the benchmark BSE index Sensex scaled Mount 15k this afternoon. The landmark figure, which had proved elusive yesterday, appeared a distant dream when the market opened on a highly listless note this morning.
14,000 on Dec 05, 2006: The Sensex opened well past the 14,000 mark - at 14,028.47, to be precise - as the bulls, with their already upbeat mood boosted further by strong global markets, took guard on BSE this morning.
13,900 on Dec 04, 2006: The Sensex, which opened at 13,846.71, around a couple of points higher than its last closing mark, vaulted past the 13,900 mark to a new high of 13,911.64 in a flash and despite having dropped down a bit to 13,898.65, is up with a sharp gain of 53.87 points (0.39%) at present.
13,800 on Dec 01, 2006: At 13,817.77, a few points down from its new lifetime high of 13,820.34, the Sensex has posted a thumping gain of 121.46 points or 0.89% at present.
13,700 on Nov 22, 2006: Sensex past the 13,700 mark. At 13,703.77, the barometer is up with a big gain of 87 points or 0.64% at present.
13,600 on Nov 15, 2006: Sensex is now up 170 points at 13,600.
13,500 on Nov 15, 2006: After opening with a positive gap of over 50 points at 13,476.28, the Sensex breezed past the 13,500 mark to a new high of 13,505.34 in a flash and is currently seen moving around 13,475, up nearly 50 points or 0.37% over yesterday's closing mark.
13,357 on Nov 13, 2006: The Sensex has risen to 13,357.83, notching up a big gain of 74.92 points or 0.6% now. At 3848.60, a few points down from its new high of 3852.95, the Nifty has posted a gain of 23.85 points or 0.36%.
13,213 on Nov 10, 2006: At 13,213.89, the Sensex is 76.40 points or 0.58% ahead of yesterday's closing mark. The Nifty has risen to 3812.75, netting a sharp gain of 16.35 points or 0.43%.
13,163 on Nov 09, 2006: Sensex has moved up to 13,163.74, up 91.23 points or 0.7% over its previous closing mark now.
13,000 on Oct 30, 2006: The Sensex crossed the historic 13,000 mark on Monday.
12,906 on Oct 27, 2006: Robust quarterly earnings of top mobile phone company Bharti Airtel perhaps helped the 30-share benchmark index of the Bombay Stock Exchange to rise 208 points, or 1.6 percent, at 12906. This is the second-highest closing for the Sensex.
12,928 on Oct 16, 2006: Riding on consistent buying and strong macro-economic and corporate performances, the Indian benchmark stock index, Sensex, recorded its highest-ever trading at 12,928. before ending.
Worst days of Sensex: Checkout
12,700 on Oct 13, 2006: Sensex scaled yet another summit today when it moved past the 12,700 mark, re-writing history immediately on commencement of trade this morning.
12,500 on Oct 12, 2006: The BSE Sensex, staged a smart rally on 12th of October ending the session with a massive gain of 184.49 points at 12,537.98. The resultant surge in values of frontline stocks drove the benchmark indices Sensex and the Nifty past the 12,500 and 3600 marks respectively.
12000 on Sept 15, 2006: Amid immense volatility, the Sensex kept gaining ground till it sped past the 12,000 mark to a high of 12,041.70.
12000 on April 20, 2006: The BSE Sensex crossed 12,000 points on April 20, The benchmark BSE-30 Sensex closed at 12,039.55 on April 20, up 143.57 points (or 1.21 per cent). While the NSE`s S&P CNX Nifty index went up by 37.65 points (or 1.06 per cent) to 3573.50.
11000 on March 21, 2006: The overriding bullishness of the Indian stock market got another shot in the arm with the Sensex touching the 11,000 mark. It made this journey from 10,000 to 11,000 in a matter of 42 days.
10000 on Feb 6, 2006: The Sensex crossed the magical 10000-mark in 70 days but closed shy of this level at 9981.
9000 on Nov 28, 2005: It took 78 days to move to the 9000-mark on the back of surging FII inflows and active retail investors participation.
8000 on Sept 8, 2005: The surge in the FII inflow during 2005 was the key factor behind the bull market witnessed in the year 2005. The Sensex crossed the 8000 mark in 78 days.
7000 on June 20, 2005: June 20, 2005 was the day when Sensex travelled to 7000 mark. Though the Sensex crossed 6,000-mark in February 2000, it failed to close past it. It took more than four years for the Sensex to close past this level on Jan 2, 2004. Stock markets across the globe saw huge correction. It took almost 63 months for the Sensex to get back to 7000. Perhaps Ambani Brothers, Mukesh Ambani and Anil Ambani was considered to be superstar in the stock market. The reports of an amicable settlement between the Ambani brothers buoyed market sentiment. Led by the Reliance group pack, the Sensex moved past 7,000 points in about 63 months.
6000 on Feb 11, 2000: On Feb 11, 2000 the sensex entered 6000 mark. The global euphoria for technology sector stocks pushed the stock markets across the globe including the Sensex to historic highs. The index moved past the 6000-mark in a span of 126 days.
5000 on Oct 8, 1999: Exactly 7 years later since 1992, the market moved to a new mark. This was due to the crash following the Harshad Mehta scam that pushed the market into a bearish phase It is reported that it took more than 7 years for the Sensex to cross the 5,000-mark as the BJP-led coalition won the majority in the Lok Sabha election. Harshad not only shook the Parliament, but the stock market too.
4000 on March 30, 1992: Exactly a month later, Harshad Mehta was in limelight. On March 30, 1992 the sensex reached another new peak. Helped by the Harshad Mehta euphoria, the move to the 4000-mark was even more swift with the Sensex taking just 28 days to cross this barrier.
3000 On Feb 29, 1992: In the same month, on Feb 29, 2002 the Sensex crossed the 3000-mark just in a span of 45 days gap.
2000 on Jan 15, 1992: Almost after one and half a year on Jan 15, 1992 the sensex entered 2000 mark. Said that it took nearly 538 days for the index to move to 2,000. The move was due to the liberal economic policy initiatives undertaken by the then finance minister Dr. Manmohan Singh. Present PM appeal to masses had this happen.
1000 points on July 25, 1990: July 25, 1990 was the day on which for the first time, the Sensex had touched the four-digit figure from the time of its debut in 1986 with the base year as 1978-79 and an initial score of 100. A day to remember indeed!
http://www.navhindt imes.com/ articles. php?Story_ ID=10158
Monday, October 15, 2007
Ramana highlights ill-effects of nuclear technology
NT Staff Reporter
Panaji, Oct 14 Dr M V Ramana, fellow of the Centre for
Interdisciplinary Studies in Environment and
Development, Bangalore, going into the bad effects of
nuclear technology, said that nuclear power is
costlier than other sources of power and added that
generation of nuclear power is susceptible to
catastrophic accidents like in the Chernobyl fiasco.
He further said that nuclear power generation produces
radioactive waste which is hazardous to human health
and that nuclear power is closely linked to weapons of
mass destruction.
Dr M V Ramana who was in Goa to attend a conference on
nuclear energy was addressing a joint press conference
with Mr Christopher Fonseca of the All India Trade
Union Congress. Both are also members of the national
co-ordination committee of the Coalition for Nuclear
Disarmament and Peace (CNDP).
Dr Ramana said that nuclear reactors have proven to be
more costly to build than coal or gas-based power
plants of the same capacity. Heavy water used in
reactors, is very expensive to produce and each
reactor requires several hundred tons of that
substance. Because of these capital costs, even though
fuelling expenses are lower in nuclear reactors, on
the whole nuclear electricity is more expensive than
thermal power.
Dr Ramana said imported reactors will be even more
expensive. The current costs of light water reactors
that might be imported from the US or France if the
present nuclear deal goes through is about $ 2000 to $
3000 per kilowatt of capacity. That is the “overnight
construction cost” or the cost without including
interest charges, he said.
Thus, a 1000-megawatt reactor would cost $ 2 or $ 3
billion or Rs 8,000-12,000 crores as per the current
dollar exchange rates. Since the reactor construction
could take five or six years at the very minimum,
there would be substantial interest charges that would
accrue, he said.
Just the capital cost of the reactor would cause the
tariff to be above Rs 4 or Rs 5 per unit of
electricity. Like the Enron power plant, this will
also be unaffordable to the consumer, Dr Ramana said.
He said nuclear reactors are also susceptible to
catastrophic accidents like the one in Chernobyl due
to which around 34,000 cancer deaths have occurred an
