With less than 24 hours left for the high-level Policy Implementation Committee meet of the DMK to take a decision whether to continue ties with the PMK, it seems that Dr S Ramadoss, the supremo of the Vanniyar-backed party PMK, would take a decision to walk out of the DPA alliance by then.
As an indication to this, an urgent Executive Committee meeting of the PMK was convened today at Thailapuram Gardens near Villupuram. It is expected that the top team would give powers to Ramadoss to decide on the issue.
Though PMK sources claimed that the meet was not an emergency one, party circles said that it was organised with a sole motive to discuss on the future course action of the party, as Chief Minister and DMK supremo M Karunanidhi on Friday made known the mood in the DMK camp about the PMK.
It is said that those who spoke in the PMK meet came down heavily on the ‘big brother attitude’ of the ruling DMK. They also reportedly alleged that the DMK government was not ready to constitute a welfare board for Vanniyars, even after it set up one for the gypsies.
Stating that attempts were being made by the DMK to portray PMK as one that always stood for violence, one of the senior leaders of the party reportedly said, ‘they are just unable to respond politically to issues and arguments made by the PMK in people’s fora. And they are also unable to stomach the popularity of the PMK among the public.’
Meanwhile, journalists were not kept off the Executive Committee meeting. When asked, PMK office- bearers said, ‘there will be no important decision today. If any, we will inform you without fail.’
Expectations are on a high in the DMK circles that the PMK would be shown the exit door at the High-level Policy Implementation Committee meet of the party in Chennai tomorrow.
According to sources in the party, ‘Our leader, who is always known for patience and maintaining smooth relationship with allies, is irked by the attitude of the PMK. Hence, they will be made to walk out of the alliance.’
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Wednesday, June 18, 2008
Monday, June 16, 2008
DMK women’s meet calls for Sethu project implementation
CUDDALORE: The State-level conference of the women’s wing of the Dravida Munnetra Kazhgam that began here on Saturday laid equal stress on the implementation of the Sethusamudhram project and protecting the rights of women.
Vasanthi Ganesan, a party functionary, who hoisted the party flag, called upon the women to unite themselves to make the Sethusamudhram project a reality. It was the bounden duty of women who upheld the ideals of the Dravidian movement to join hands to get the project implemented.
Ms. Ganesan said the DMK president and Chief Minister M. Karunanidhi who had been espousing the cause of women, was hoping to enhance the economic status of Tamil Nadu through the Sethusamudhram project.
She noted that only the Dravidian movement was holding women in high esteem and therefore, propagated the self-respect marriages.
Another functionary Noorjahan Begum termed the women’s rally a “historic” occasion. She expressed her gratitude to Mr. Karunanidhi for giving her an opportunity to inaugurate the rally.
She said the self-help group started in 1989 at Dharmapuri by Mr. Karunanidhi had grown from strength to strength and now Tamil Nadu could boast of lakhs of SHGs.
Sankari Narayanan, MLA, said that by securing share in property for women, Mr. Karunanidhi had restored their self-respect.
S.P. Sargunapandian thanked the Chief Minister for having sat through over four-and-half hours to witness the rally.
Finance Minister K.Anbalagan, Electricity Minister Arcot N.Veeraswami, PWD Minister Durai Murugan, and Kanimozhi, MP, participated.
Vasanthi Ganesan, a party functionary, who hoisted the party flag, called upon the women to unite themselves to make the Sethusamudhram project a reality. It was the bounden duty of women who upheld the ideals of the Dravidian movement to join hands to get the project implemented.
Ms. Ganesan said the DMK president and Chief Minister M. Karunanidhi who had been espousing the cause of women, was hoping to enhance the economic status of Tamil Nadu through the Sethusamudhram project.
She noted that only the Dravidian movement was holding women in high esteem and therefore, propagated the self-respect marriages.
Another functionary Noorjahan Begum termed the women’s rally a “historic” occasion. She expressed her gratitude to Mr. Karunanidhi for giving her an opportunity to inaugurate the rally.
She said the self-help group started in 1989 at Dharmapuri by Mr. Karunanidhi had grown from strength to strength and now Tamil Nadu could boast of lakhs of SHGs.
Sankari Narayanan, MLA, said that by securing share in property for women, Mr. Karunanidhi had restored their self-respect.
S.P. Sargunapandian thanked the Chief Minister for having sat through over four-and-half hours to witness the rally.
Finance Minister K.Anbalagan, Electricity Minister Arcot N.Veeraswami, PWD Minister Durai Murugan, and Kanimozhi, MP, participated.
Women will be in forefront for Sethu canal project: Kanimozhi
CUDDALORE: After organising an impressive rally that lasted over five hours on Saturday, the DMK women’s wing switched gears to debate on issues that affected the everyday lives of people on Sunday.
Rajya Sabha MP Kanimozhi, the daughter of Chief Minister M. Karunanidhi, launched a frontal attack on parties that criticised the policies of the Dravida Munnetra Kazhgam government and asserted that women in the DMK would be in the forefront of the fight to complete the Sethusamudram project.
Placing Chief Minister M. Karunanidhi’s plea that the Sethusamudram project should go ahead even if it meant a change of name to Ramsethu to placate the believers of Lord Rama, Ms. Kanimozhi said that even Periyar had said that he would smear vermillion on his forehead if it was of some help to the common man.
Dismissing the criticism of the Chief Minister’s stand on the change of name, she said that it would be better if leaders spoke on issues after verifying the historical facts and reading up history.
Ms. Kanimozhi pointedly referred to the distant past when religion held sway and caste was supreme to draw lessons for the present. Touching upon Manusmrithi, she said people, especially women, outside the varna system were denied the right to wealth because this was the first step to subjugate people. It was a DMK government that first gave equal rights in property to women, she said.
Ms.Kanimozhi referred to portions in the Bhagavad Gita, which, she said, was quoted by many to justify the violence in Narendra Modi’s Gujarat.
Mr. Modi, she said, was accorded a red-carpet welcome in this State when Jayalalithaa was Chief Minister. “Tamil Nadu will become a Gujarat if you give space to such elements,” she said.
Recalling PMK founder Ramadoss statement that Mr. Karunanidhi had “failed” in his ranking, Ms. Kanimozhi said that Mr.Karunanidhi had been ranked very high by Periyar.
“Thanthai Periyar hadgiven him a certificate [of competence]; he does not require it from anyone else,” she said.
Sunday, June 15, 2008
DMK's First Women's Conference held at Cuddalore
DMK's first women's conference was held at Cuddalore on 14th and 15th of this month. Arrangements for the conference were started about two months earlier. Since then, there were visit, after visit, after visit at ministers cadre to check the progress of the work. Elaborate stage arrangements were made at Manjakuppam maidanam - the venue of the meeting. Since there there was an extensive coverage of this function by media at state level, I stop with this. I have posted below the 'Street Photos', to give you a feel of how it has been. 
Wednesday, June 04, 2008
Engg admissions made easier
CHENNAI: The state government has reduced the minimum eligibility marks to be scored in plus two for admission to BE/B Tech courses. The move will help self-financing engineering colleges to fill more seats from the coming academic year.
In future, students belonging to the most backward community (MBC) with an aggregate score of 45% in higher secondary board examinations will be eligible to join engineering colleges as against the 50% marks required earlier. Likewise, BC students need an aggregate score of just 50%, instead of the prevailing 55%. Students competing in the open category have to score 55% instead of 60%. Students belonging to the SC/ST community can join BE/B Tech programmes with a mere pass in plus two, as is the existing norm, higher education minister K Ponmudy announced in the assembly on Tuesday.
The minister pointed out 14,721 seats had fallen vacant last year in self-financing engineering colleges in the state. “Reducing the eligibility marks will provide access to engineering education to more students and also help colleges fill up seats,” he said.
For a few years now, managements of unaided engineering colleges have been demanding that students who have passed plus two must be allowed to join engineering colleges.
In a related move, the government has decided to establish five government engineering colleges through the respective Anna Universities in Tindivanam, Villupuram, Panruti, Nagapattinam and Ramanathapuram creating 1200 BE/B Tech seats. Also, the Anna University (Chennai) will increase its students' intake by 360 from the coming academic year and the existing government engineering colleges will cumulatively add 600 seats, Ponmudy said.
The government has also enhanced the quota in engineering colleges for children of ex-servicemen from 81 to 150 seats and the sports quota has been increased to 100 seats from the existing 42 (See Box). The Tamil Nadu State Council for Technical Education would be established.
Finishing school
Meanwhile, the ministry has decided to launch a Finishing School for students of government engineering and polytechnic colleges. Engineering graduates, polytechnic diploma holders and final year students can enroll in the school to learn industry-specific job skills. The school would seek to bridge the gap between the academia and industry by equipping students with IT and software skills for a minimal fee.
Ponmudy said from 2008-09, the shift system of education, which has been successfully implemented in state-run arts and science colleges, would be extended to government polytechnic colleges. This would provide an opportunity for more rural and economically-weaker students.
Undergraduate students of arts and science colleges can now simultaneously enroll for a diploma course or ITI certification course from the coming academic year. This will enhance their employability, the minister said.
To enable 91% of the state's labour force which is unskilled, the government has decided to offer them certificate courses through the Tamil Nadu Open University. The courses will be imparted in polytechnic colleges in each district, which shall function on Saturdays, Sundays and national holidays. Labourers who are literate can join the programme and appear for the examination at their workplace itself.
In future, students belonging to the most backward community (MBC) with an aggregate score of 45% in higher secondary board examinations will be eligible to join engineering colleges as against the 50% marks required earlier. Likewise, BC students need an aggregate score of just 50%, instead of the prevailing 55%. Students competing in the open category have to score 55% instead of 60%. Students belonging to the SC/ST community can join BE/B Tech programmes with a mere pass in plus two, as is the existing norm, higher education minister K Ponmudy announced in the assembly on Tuesday.
The minister pointed out 14,721 seats had fallen vacant last year in self-financing engineering colleges in the state. “Reducing the eligibility marks will provide access to engineering education to more students and also help colleges fill up seats,” he said.
For a few years now, managements of unaided engineering colleges have been demanding that students who have passed plus two must be allowed to join engineering colleges.
In a related move, the government has decided to establish five government engineering colleges through the respective Anna Universities in Tindivanam, Villupuram, Panruti, Nagapattinam and Ramanathapuram creating 1200 BE/B Tech seats. Also, the Anna University (Chennai) will increase its students' intake by 360 from the coming academic year and the existing government engineering colleges will cumulatively add 600 seats, Ponmudy said.
The government has also enhanced the quota in engineering colleges for children of ex-servicemen from 81 to 150 seats and the sports quota has been increased to 100 seats from the existing 42 (See Box). The Tamil Nadu State Council for Technical Education would be established.
Finishing school
Meanwhile, the ministry has decided to launch a Finishing School for students of government engineering and polytechnic colleges. Engineering graduates, polytechnic diploma holders and final year students can enroll in the school to learn industry-specific job skills. The school would seek to bridge the gap between the academia and industry by equipping students with IT and software skills for a minimal fee.
Ponmudy said from 2008-09, the shift system of education, which has been successfully implemented in state-run arts and science colleges, would be extended to government polytechnic colleges. This would provide an opportunity for more rural and economically-weaker students.
Undergraduate students of arts and science colleges can now simultaneously enroll for a diploma course or ITI certification course from the coming academic year. This will enhance their employability, the minister said.
To enable 91% of the state's labour force which is unskilled, the government has decided to offer them certificate courses through the Tamil Nadu Open University. The courses will be imparted in polytechnic colleges in each district, which shall function on Saturdays, Sundays and national holidays. Labourers who are literate can join the programme and appear for the examination at their workplace itself.
Petrol up by Rs 5; diesel up by Rs 3; LPG up by Rs 50
Petrol prices have been hiked by Rs 5 per litre, diesel by Rs 3 per litre and LPG price hiked by Rs 50 per cylinder.
PV Bhide, Revenue Secretary at the announcement of the oil price decision said, "We have been requested by the Ministry of Petroleum and Natural Gas for a reduction in customs duty and excise duty on crude oil and petroleum products. This was to enhance the realisation of the oil marketing companies. While there are tremendous demands on the revenue especially for programmes and schemes in the social sector, it has been decided to make certain duty changes in customs and excise.
These duty changes will result in an estimated loss of revenue of about Rs 22,660 crore for the 10-month period remaining this year. The composition of these changes are - customs duty on crude will be made nil from 5%. Customs duty on HSD and petrol will be reduced from 7.5% to 2.5%. Customs duty on other petroleum products will be reduced from 10% to 5%. Finally, excise duty on HSD and petrol will be reduced by Re 1 per litre each. So, Re 1 on petrol and Re 1 on diesel.
The total effect of all this is, Rs 15,500 crore is the customs duty reduction on crude; Rs 500 crore customs duty results in the reduction on petroleum products. The excise cuts will cause us a loss of Rs 6,660 crore."
The price hike will be effective from midnight today.
The Secretary, Petroleum and Natural Gas, Shri MS Srinivasan elaborated on the duties and taxes:
"We are coming to duty and taxes portion. We have requested the Ministry of Finance to give thought to some duty and price cuts with a view to partly mitigating the adverse impact on oil companies as a result of huge under recoveries. Although there is tremendous demand on the revenue especially for programmes in the social sector, the Finance Ministry has agreed and decided to make certain duty changes in customs and excise. These duty changes will result to an estimated loss of revenue of Rs 22,660 crore for the remaining 10 months of this current fiscal.
Following are the duty changes:
1) Reduction in customs duty on crude from the present 5% to zero
2) Reductions in the customs duty on diesel and petrol from the present 7.5% to 2.5%.
3) Reductions in customs duty on all other petroleum products from including ATF from 10% to 5%.
What it really means is that it is an accost of 5% reduction in customs duty on crude and products and reduction in excise duty on petrol and diesel by Rs 1/ litre. The total annual reduction in under recovery as a result of this would be Rs 21,000 crore of for the public sector oil marketing companies and it is Rs 22,660 crore for the Ministry of Finance for the whole oil sector.
As the result of the duty changes that is excise duty and customs duty reductions by Ministry of Finance the under recoveries for the oil marketing companies will come down by roughly Rs 22,000 cr this year."
Meanwhil Oil Minister, Murli Deora spoke exclusively to CNBC-TV18 saying that a roll back of the fuel price hike is not on the cards. He added that the price hike was unavoidable. He also said that the he would ask for a SLR status for oil bonds but the RBI disagreed with the proposition.
“We have been requested by the Ministry of Petroleum and Natural Gas for a reduction in customs duty and excise duty on crude oil and petroleum products. This was to enhance the realisation of oil marketing companies. While there are tremendous demands on the revenue, especially for programmes and schemes in the social sector, it has been decided to make certain duty changes in customs and excise. These duty changes will result in an estimated loss of revenue of about Rs 22,660 crore for the 10-month period remaining this year," said PV Bhide, Revenue Secretary, Ministry of Finance.
"Customs duty on crude will be made nil from 5%. Customs duty on HSD and petrol will be reduced from 7.5% to 2.5%. Customs duty on other petroleum products will be reduced from 10% to 5%. Excise duty on HSD and petrol will be reduced by Re 1 per litre each. The excise cuts will cause us a loss of Rs 6,660 crore," he added.
Murli Deora and MS Srinivasan at the press conference:
Q: Do you think there is likely to be a rollback because the Left has not come on Board, you have admitted that you have spoken with Prakash Karat and he is opposed to this kind of a hike, they have opposed to all kinds of hike.
Deora: No, it doesn’t matter, they will come when they will realize; first of all I must say they have not supported this. But sooner or later they'll realize that is the only solution available; there is no other alternative. We explained them how much losses they are making, what will happen to the oil companies, what will happen to the refineries, which are coming in Paradip (Orissa), in Bina in Bhatinda (Punjab) the three big refineries are supported by the three oil companies. So if they lose money there is no money too.
Q: What the Left is saying? They are planning a nationwide agitation and this is what you have said, they have come out very strongly at this kind of a hike?
Deora: We will explain to them and they will get out of the demonstration. Everything will be taken care of.
Q: The Prime Minister said that he is likely to be giving the reason for this hike?
Deora: Yes, he is addressing the nation today at 8 pm.
Q: There are other allies on Board; how have you convinced them that this is a requirement?
Deora: Most of the people may not say that they support. But in their heart they are supporting because there is no other solution, there is no other alternative available.
Q: Is there likely to be a rollback, should we expect some kind of a relief?
Deora: Forget there were rollbacks.
Q: When will the price hike be effective from?
Srinivasan: From midnight tonight.
Q: How much will other recoveries come down by?
Srinivasan: Rs 2,45,305 crore from that due to Finance Ministry's steps under recoveries will come down by about Rs 22,000 crore and with the price revision now announced, to take effect from midnight tonight the under recoveries will come down by an additional Rs 21,123 crore this year.
Taking into account the upstream contribution as against Rs 26,000 crore last year, this year we are proposing that upstream sharing of the subsidiary burden be hiked to Rs 45,000 crore as against Rs 26,000 crore last year.
As against absorption of Rs 16,000 crore by the three oil marketing companies last year, this year we are proposing that they absorb Rs 20,000 crore and this leaves a balance of Rs 1,35,000 core. Suitable provisions will be made by the Ministry of Finance as agreed in today’s meeting for oil bonds on a QoQ basis.
Q: On percentage of bonds?
Srinivasan: The bond requirement now stands at after adjusting all Rs 2,55,000 crore minus Rs 22,000 crore by way of Finance Ministry minus an additional Rs 21,123 crore by way of price revision, minus another Rs 40,000 crore by way of upstream sharing minus an additional Rs 20,000 crore to be absorbed. It stands at roughly Rs 1.35 lakh crore. It has been decided that bonds to the extent required will be provided for.
Q: On addressing liquidity problem?
Srinivasan: We are dealing in two specific oil companies functioning here, one is the liquidity position or cost crunch and the other is the profitability. The chairman of IOC was referring to the companies that were running out of cash and hence they may have to limit their imports of crude oil which will automatically lead to lesser availability of finished products.
Now with a view to addressing to the liquidity problem effectively, RBI and oil companies have entered into an arrangement yesterday, as per which the bonds will be disposed off by the oil companies in favour of the RBI and RBI will place adequate or required number of dollars in the hands of the oil companies subject to a maximum of Rs 1,000 crore a day, so that imports will continue as per the requirement of oil companies.
This will also solve the problem of rupee depreciation, which normally occurs whenever oil companies go and purchase dollars in the open market for meeting the crude oil requirements. Here RBI takes the advance, gives them the dollars then RBI enters the secondary market and engages in open market operations. So this way the operation is smoother now and liquidity problem is overcome.
Q: On oil bonds and statutory liquidity ratio (SLR) status?
Srinivasan: The main purpose of all this arrangement is that they get liquidity. The main objective of SLR is grand liquidity, so as long as liquidity is obtained I think that's all that matters really.
Q: On inflation?
Srinivasan: If under recoveries are covered in full, the inflation impact is assessed debt around 4.7%. Here the price hike proposed is only Rs 22,000 crore which is the direct payment which the consumer has to make. So one could work out the percentage it will be 0.5 – 0.6%.
Q: On long-term strategy?
Srinivasan: The long-term strategy to keep examining the possibility of reflecting market prices locally so that the economy doesn’t come to a halt and this has to be done stage wise. We will be revisiting the issue after 4-5 months.
PV Bhide, Revenue Secretary at the announcement of the oil price decision said, "We have been requested by the Ministry of Petroleum and Natural Gas for a reduction in customs duty and excise duty on crude oil and petroleum products. This was to enhance the realisation of the oil marketing companies. While there are tremendous demands on the revenue especially for programmes and schemes in the social sector, it has been decided to make certain duty changes in customs and excise.
These duty changes will result in an estimated loss of revenue of about Rs 22,660 crore for the 10-month period remaining this year. The composition of these changes are - customs duty on crude will be made nil from 5%. Customs duty on HSD and petrol will be reduced from 7.5% to 2.5%. Customs duty on other petroleum products will be reduced from 10% to 5%. Finally, excise duty on HSD and petrol will be reduced by Re 1 per litre each. So, Re 1 on petrol and Re 1 on diesel.
The total effect of all this is, Rs 15,500 crore is the customs duty reduction on crude; Rs 500 crore customs duty results in the reduction on petroleum products. The excise cuts will cause us a loss of Rs 6,660 crore."
The price hike will be effective from midnight today.
The Secretary, Petroleum and Natural Gas, Shri MS Srinivasan elaborated on the duties and taxes:
"We are coming to duty and taxes portion. We have requested the Ministry of Finance to give thought to some duty and price cuts with a view to partly mitigating the adverse impact on oil companies as a result of huge under recoveries. Although there is tremendous demand on the revenue especially for programmes in the social sector, the Finance Ministry has agreed and decided to make certain duty changes in customs and excise. These duty changes will result to an estimated loss of revenue of Rs 22,660 crore for the remaining 10 months of this current fiscal.
Following are the duty changes:
1) Reduction in customs duty on crude from the present 5% to zero
2) Reductions in the customs duty on diesel and petrol from the present 7.5% to 2.5%.
3) Reductions in customs duty on all other petroleum products from including ATF from 10% to 5%.
What it really means is that it is an accost of 5% reduction in customs duty on crude and products and reduction in excise duty on petrol and diesel by Rs 1/ litre. The total annual reduction in under recovery as a result of this would be Rs 21,000 crore of for the public sector oil marketing companies and it is Rs 22,660 crore for the Ministry of Finance for the whole oil sector.
As the result of the duty changes that is excise duty and customs duty reductions by Ministry of Finance the under recoveries for the oil marketing companies will come down by roughly Rs 22,000 cr this year."
Meanwhil Oil Minister, Murli Deora spoke exclusively to CNBC-TV18 saying that a roll back of the fuel price hike is not on the cards. He added that the price hike was unavoidable. He also said that the he would ask for a SLR status for oil bonds but the RBI disagreed with the proposition.
“We have been requested by the Ministry of Petroleum and Natural Gas for a reduction in customs duty and excise duty on crude oil and petroleum products. This was to enhance the realisation of oil marketing companies. While there are tremendous demands on the revenue, especially for programmes and schemes in the social sector, it has been decided to make certain duty changes in customs and excise. These duty changes will result in an estimated loss of revenue of about Rs 22,660 crore for the 10-month period remaining this year," said PV Bhide, Revenue Secretary, Ministry of Finance.
"Customs duty on crude will be made nil from 5%. Customs duty on HSD and petrol will be reduced from 7.5% to 2.5%. Customs duty on other petroleum products will be reduced from 10% to 5%. Excise duty on HSD and petrol will be reduced by Re 1 per litre each. The excise cuts will cause us a loss of Rs 6,660 crore," he added.
Murli Deora and MS Srinivasan at the press conference:
Q: Do you think there is likely to be a rollback because the Left has not come on Board, you have admitted that you have spoken with Prakash Karat and he is opposed to this kind of a hike, they have opposed to all kinds of hike.
Deora: No, it doesn’t matter, they will come when they will realize; first of all I must say they have not supported this. But sooner or later they'll realize that is the only solution available; there is no other alternative. We explained them how much losses they are making, what will happen to the oil companies, what will happen to the refineries, which are coming in Paradip (Orissa), in Bina in Bhatinda (Punjab) the three big refineries are supported by the three oil companies. So if they lose money there is no money too.
Q: What the Left is saying? They are planning a nationwide agitation and this is what you have said, they have come out very strongly at this kind of a hike?
Deora: We will explain to them and they will get out of the demonstration. Everything will be taken care of.
Q: The Prime Minister said that he is likely to be giving the reason for this hike?
Deora: Yes, he is addressing the nation today at 8 pm.
Q: There are other allies on Board; how have you convinced them that this is a requirement?
Deora: Most of the people may not say that they support. But in their heart they are supporting because there is no other solution, there is no other alternative available.
Q: Is there likely to be a rollback, should we expect some kind of a relief?
Deora: Forget there were rollbacks.
Q: When will the price hike be effective from?
Srinivasan: From midnight tonight.
Q: How much will other recoveries come down by?
Srinivasan: Rs 2,45,305 crore from that due to Finance Ministry's steps under recoveries will come down by about Rs 22,000 crore and with the price revision now announced, to take effect from midnight tonight the under recoveries will come down by an additional Rs 21,123 crore this year.
Taking into account the upstream contribution as against Rs 26,000 crore last year, this year we are proposing that upstream sharing of the subsidiary burden be hiked to Rs 45,000 crore as against Rs 26,000 crore last year.
As against absorption of Rs 16,000 crore by the three oil marketing companies last year, this year we are proposing that they absorb Rs 20,000 crore and this leaves a balance of Rs 1,35,000 core. Suitable provisions will be made by the Ministry of Finance as agreed in today’s meeting for oil bonds on a QoQ basis.
Q: On percentage of bonds?
Srinivasan: The bond requirement now stands at after adjusting all Rs 2,55,000 crore minus Rs 22,000 crore by way of Finance Ministry minus an additional Rs 21,123 crore by way of price revision, minus another Rs 40,000 crore by way of upstream sharing minus an additional Rs 20,000 crore to be absorbed. It stands at roughly Rs 1.35 lakh crore. It has been decided that bonds to the extent required will be provided for.
Q: On addressing liquidity problem?
Srinivasan: We are dealing in two specific oil companies functioning here, one is the liquidity position or cost crunch and the other is the profitability. The chairman of IOC was referring to the companies that were running out of cash and hence they may have to limit their imports of crude oil which will automatically lead to lesser availability of finished products.
Now with a view to addressing to the liquidity problem effectively, RBI and oil companies have entered into an arrangement yesterday, as per which the bonds will be disposed off by the oil companies in favour of the RBI and RBI will place adequate or required number of dollars in the hands of the oil companies subject to a maximum of Rs 1,000 crore a day, so that imports will continue as per the requirement of oil companies.
This will also solve the problem of rupee depreciation, which normally occurs whenever oil companies go and purchase dollars in the open market for meeting the crude oil requirements. Here RBI takes the advance, gives them the dollars then RBI enters the secondary market and engages in open market operations. So this way the operation is smoother now and liquidity problem is overcome.
Q: On oil bonds and statutory liquidity ratio (SLR) status?
Srinivasan: The main purpose of all this arrangement is that they get liquidity. The main objective of SLR is grand liquidity, so as long as liquidity is obtained I think that's all that matters really.
Q: On inflation?
Srinivasan: If under recoveries are covered in full, the inflation impact is assessed debt around 4.7%. Here the price hike proposed is only Rs 22,000 crore which is the direct payment which the consumer has to make. So one could work out the percentage it will be 0.5 – 0.6%.
Q: On long-term strategy?
Srinivasan: The long-term strategy to keep examining the possibility of reflecting market prices locally so that the economy doesn’t come to a halt and this has to be done stage wise. We will be revisiting the issue after 4-5 months.
Six electrocuted in Gingee temple fest
VILLUPURAM: Six devotees were electrocuted and 31 others injured when an electric wire from a pole snapped and fell onto an iron grill at Sri AngalammanTemple at Melmalayanur, near Gingee, on Tuesday night.
According to sources, a large number of devotees from various parts of the state congregated at the temple to witness Oonjal utsavam (swing festival) on New Moon Day.
According to police, a devotee had tried to jump over the wall to have a closer look at the proceedings near the oonjal utsavam that forms an important part of the monthly festivities.
In the process, he tripped and while falling to the ground, grabbed at the overhead electric wire strung to electric poles put up to illuminate the event.
The snapped wire fell on the iron grill around the shrine and electrocuted the six devotees.
Murugan (24), Ravi (28) of Uthiramerur, Pachaiyammal (35) of Velur and Ravi of Ambattur and two other unidentified persons a 60-year-old woman and a 50-year-old man were killed in the incident.
Among the injured, three devotees, Kuppan (42) of Kasimedu, Vasanthi (48) of Vriddachalam and Kannan (16) of Ambattur were admitted to JIPMER in Puducherry.
According to sources, a large number of devotees from various parts of the state congregated at the temple to witness Oonjal utsavam (swing festival) on New Moon Day.
According to police, a devotee had tried to jump over the wall to have a closer look at the proceedings near the oonjal utsavam that forms an important part of the monthly festivities.
In the process, he tripped and while falling to the ground, grabbed at the overhead electric wire strung to electric poles put up to illuminate the event.
The snapped wire fell on the iron grill around the shrine and electrocuted the six devotees.
Murugan (24), Ravi (28) of Uthiramerur, Pachaiyammal (35) of Velur and Ravi of Ambattur and two other unidentified persons a 60-year-old woman and a 50-year-old man were killed in the incident.
Among the injured, three devotees, Kuppan (42) of Kasimedu, Vasanthi (48) of Vriddachalam and Kannan (16) of Ambattur were admitted to JIPMER in Puducherry.
Saturday, May 31, 2008
Police officers reshuffled in TN
Villupuram / Chennai, May 31: In a major reshuffle of IPS officers, Tamil Nadu Government tonight transferred 29 officers in the rank of superintendent of police (SP).
Under the exercise, Ariyalur, Villupuram, Namakkal, Krishnagiri, Thanjvaur, Thiruvarur, ramanathapuram and Nilgiris districts would have new police chiefs.
Deputy Commissioner of Police, headquarters, Coimbatore City, has been transferred and posted as SP of Ariyalur District in place of M S Muthusamy, who moves to Chennai as Deputy Commissioner of Police, T Nagar vice S Lakshmi, an official release said here.
Lakshmi has been transferred as DCP, Madhavaram, Chennai.
Deputy Commissioner of Police, Pulianthope, Chennai, S Sampathkumar has been posted as SP of Villupuram District vice A Amalraj, has been posted as DCP, Ambattur, Chennai in place of K Joshi Nirmal Kumar.
Nilgiris District SP Vidya D Kulkarni will be the new SP of Namakkal in place of Y John Nicholson, who has been shifted as DCP, Law and Order, Tiruchirappali vice N Rajasekaran.
SP of Krishnagiri District P C Thenmozhi moves to Thanjavur as the district police chief in place of Amit Kumar Singh, who will be the SP of Tiruvarur district.
Anisa Husain, who was the SP of Tiruvarur district, will replace Tenmozhi in Krishnagiri district.
Joint SP, Chidambaram, Sub-Division, is transferred and posted as SP of Ramanthapuram District in place of R Thirugnanam, who will be the SP, Enforcement, Salem.
Joint SP, Panruti sub-division, has been transferred and posted as SP of Erode District in place of Sonal V Misra while Joint SP, Thakkali sub-division, will be new SP of Nilgiris District
Under the exercise, Ariyalur, Villupuram, Namakkal, Krishnagiri, Thanjvaur, Thiruvarur, ramanathapuram and Nilgiris districts would have new police chiefs.
Deputy Commissioner of Police, headquarters, Coimbatore City, has been transferred and posted as SP of Ariyalur District in place of M S Muthusamy, who moves to Chennai as Deputy Commissioner of Police, T Nagar vice S Lakshmi, an official release said here.
Lakshmi has been transferred as DCP, Madhavaram, Chennai.
Deputy Commissioner of Police, Pulianthope, Chennai, S Sampathkumar has been posted as SP of Villupuram District vice A Amalraj, has been posted as DCP, Ambattur, Chennai in place of K Joshi Nirmal Kumar.
Nilgiris District SP Vidya D Kulkarni will be the new SP of Namakkal in place of Y John Nicholson, who has been shifted as DCP, Law and Order, Tiruchirappali vice N Rajasekaran.
SP of Krishnagiri District P C Thenmozhi moves to Thanjavur as the district police chief in place of Amit Kumar Singh, who will be the SP of Tiruvarur district.
Anisa Husain, who was the SP of Tiruvarur district, will replace Tenmozhi in Krishnagiri district.
Joint SP, Chidambaram, Sub-Division, is transferred and posted as SP of Ramanthapuram District in place of R Thirugnanam, who will be the SP, Enforcement, Salem.
Joint SP, Panruti sub-division, has been transferred and posted as SP of Erode District in place of Sonal V Misra while Joint SP, Thakkali sub-division, will be new SP of Nilgiris District
Villupuram student is third in State
M .Thirumal scores 493 out of 500
Pass percentage this year is 68
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VILLUPURAM: Villupuram has the honour of producing a State third-rank holder in the SSLC examinations held in March, 2008. M.Thirumal of A.K.T.Memorial High School, Kallakurichi, has done the honour by scoring 493 out of 500.
Thirumal, son of M.Murugan, a security guard in the Tamil Nadu State Transport Corporation depot at Sankarapuram, has scored centum in mathematics. He nurses the ambition of becoming an aeronautical engineer.
The coaching provided in the school helped him to follow the syllabus systematically, he said.
The district toppers are: M.Thirumal (493/500) of A.K.T. Memorial High School; R.Anbarasi (492) of Bharati high school, Bangaram; and, J.Pavithra (490) of A.K.T. Memorial High School and N.Sridevi (490) of Government Girls High School, Thirukkoilur. Of the 40,182 candidates, including 20,375 boys and 19,807 girls, sat for the examinations, 27,320 (13,628 boys and 13,692 girls) passed out successfully.
The pass percentage this year was 68, as against last year’s 60 per cent. As many as 495 candidates scored centum in mathematics, eight in science and nine in social science.
The government school fared extremely well and of them not less than five — located at Eraiyur, Paithanthurai, Jalavadi, Maniampalayam and Vellimalai — have produced cent per cent results.
The aided schools that attained 100 per cent results are: A.K.T. Memorial High School, Bharathi HS at Bangaram, Pon.Nehru HS at Thiruvennainallur, Christu Special School at Sankarapuram, Henna John Special School at Thirukkoilur, Jeeva HS at Poondi, Kurinji HS at Poondi, Kuilapalayam HS, Mount Park HS at Thiagadurgam, Sri Vivekananda HS at Erwaipattinam and Sakthi HS at Kaniyamur.
The top-rankers from government schools are: N.Sridevi (490) and S.Vigneswari (488) of Government Girls High School at Thirukkoilur and M.Shanmugham (485) of Government High School at Arasamangalam.
The meritorious candidates from the matriculation schools are: S.Sajitha (486) of St.Joseph Mat.High School at Tindivanam, H.Anugraha (482) of Ramakrishna Gurukulam at Idaikkal and A.Pavithran (481) of Ramakrishna Vidyalaya.
The toppers from the Anglo-Indian stream are: M.Meera (483), J.Bharani Krishnan (480) and K.Mahalakshmi (475), all from Sacred Heart School at Tindivanam.
The top-ranking candidates from the oriental stream are: V.Bhuvanesh (482), A.Bhaskar (477) and S.Hariprasad (463), all from Kamakoti Oriental High School at Villupuram.
Pass percentage this year is 68
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VILLUPURAM: Villupuram has the honour of producing a State third-rank holder in the SSLC examinations held in March, 2008. M.Thirumal of A.K.T.Memorial High School, Kallakurichi, has done the honour by scoring 493 out of 500.
Thirumal, son of M.Murugan, a security guard in the Tamil Nadu State Transport Corporation depot at Sankarapuram, has scored centum in mathematics. He nurses the ambition of becoming an aeronautical engineer.
The coaching provided in the school helped him to follow the syllabus systematically, he said.
The district toppers are: M.Thirumal (493/500) of A.K.T. Memorial High School; R.Anbarasi (492) of Bharati high school, Bangaram; and, J.Pavithra (490) of A.K.T. Memorial High School and N.Sridevi (490) of Government Girls High School, Thirukkoilur. Of the 40,182 candidates, including 20,375 boys and 19,807 girls, sat for the examinations, 27,320 (13,628 boys and 13,692 girls) passed out successfully.
The pass percentage this year was 68, as against last year’s 60 per cent. As many as 495 candidates scored centum in mathematics, eight in science and nine in social science.
The government school fared extremely well and of them not less than five — located at Eraiyur, Paithanthurai, Jalavadi, Maniampalayam and Vellimalai — have produced cent per cent results.
The aided schools that attained 100 per cent results are: A.K.T. Memorial High School, Bharathi HS at Bangaram, Pon.Nehru HS at Thiruvennainallur, Christu Special School at Sankarapuram, Henna John Special School at Thirukkoilur, Jeeva HS at Poondi, Kurinji HS at Poondi, Kuilapalayam HS, Mount Park HS at Thiagadurgam, Sri Vivekananda HS at Erwaipattinam and Sakthi HS at Kaniyamur.
The top-rankers from government schools are: N.Sridevi (490) and S.Vigneswari (488) of Government Girls High School at Thirukkoilur and M.Shanmugham (485) of Government High School at Arasamangalam.
The meritorious candidates from the matriculation schools are: S.Sajitha (486) of St.Joseph Mat.High School at Tindivanam, H.Anugraha (482) of Ramakrishna Gurukulam at Idaikkal and A.Pavithran (481) of Ramakrishna Vidyalaya.
The toppers from the Anglo-Indian stream are: M.Meera (483), J.Bharani Krishnan (480) and K.Mahalakshmi (475), all from Sacred Heart School at Tindivanam.
The top-ranking candidates from the oriental stream are: V.Bhuvanesh (482), A.Bhaskar (477) and S.Hariprasad (463), all from Kamakoti Oriental High School at Villupuram.
Friday, May 30, 2008
Varnam the movie is based on a real life incident that happened in Villupuram
Giri, Ashwatha and Sampath will make their debut in the movie Varnam directed by SM Raju who is again a fresh face to the industry. S M Raju has been a software engineer in the US for the past 18 years and has worked with Santhosh Sivan as assistant director.
Silandhi fame Monica is the only known face in this movie. This movie is based on a real life incident that happened in Villupuram. Shooting for the film is going on at fast pace at Dindugul. ALKA Films Corporation is producing the film and the music composition for the movie is by Isaac Thomas Kodukupali.
New jeeps for Villupuram BDOs
VILLUPURAM: Collector Brajendra Navnit handed over new jeeps to 17 Block Development Officers (BDOs) in the district on Thursday.
Mr. Navnit said Local Administration Minister M.K.Stalin had announced in the Assembly that 250 new vehicles would be provided to those in the ranks of the assistant directors, assistant engineers and the BDOs at a total cost of Rs. 16.75 crore. Accordingly 17 new jeeps were procured for Villupuram district at a cost of Rs 76.11 lakh.
Mr. Navnit said Local Administration Minister M.K.Stalin had announced in the Assembly that 250 new vehicles would be provided to those in the ranks of the assistant directors, assistant engineers and the BDOs at a total cost of Rs. 16.75 crore. Accordingly 17 new jeeps were procured for Villupuram district at a cost of Rs 76.11 lakh.
Thursday, May 29, 2008
‘Red Ribbon’ to halt at Villupuram
Special Correspondent
VILLUPURAM: The Red Ribbon Express will halt at platform No. 3 at Villupuram junction on June 5 and 6.
The general public and students will have free access to the train on both days.
The artists who travel along with the train will stage plays to create awareness of HIV/AIDS.
A cycle caravan and bus caravan will tour the interior areas to spread information about the afflictions and return to the junction before the train leaves.
VILLUPURAM: The Red Ribbon Express will halt at platform No. 3 at Villupuram junction on June 5 and 6.
The general public and students will have free access to the train on both days.
The artists who travel along with the train will stage plays to create awareness of HIV/AIDS.
A cycle caravan and bus caravan will tour the interior areas to spread information about the afflictions and return to the junction before the train leaves.
Tuesday, May 27, 2008
World top 500 websites and it's ranking
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Monday, May 26, 2008
Villupuram Map — Satellite Images of Villupuram
Welcome to the Villupuram google satellite map! This place is situated in South Arcot, Tamil Nadu, India, its geographical coordinates are 11° 56' 0" North, 79° 29' 0" East and its original name (with diacritics) is Villupuram. See Villupuram photos and images from satellite below, explore the aerial photographs of Villupuram in India.
You can also dive right into Villupuram on unique 3D satellite map by Google Earth. And last but not least you will find Villupuram and India travel services offer including cheap flights, cheap hotels and other accommodation deals at the bottom of this page.
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