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Congressmen seek US postage stamp on Diwali festival

Washington: Next time you receive a post parcel from the US, don't be surprised to see a colourful display of Diwali on it as some American lawmakers have introduced a resolution seeking issuence of a postage stamp on the popular Indian festival.

Congresswomen Carolyn B Maloney and Grace Meng, besides Indian-American Congressman Ami Bera, have introduced the resolution in the House of Representatives, urging the United States Postal Service (USPS) to create a stamp as per the Diwali Stamp resolution.

The USPS has recognised other major religious holidays such as Christmas, Kwanzaa, Hanukkah, and Eid, with a commemorative stamp earlier.

"Meaning 'row of lights,' Diwali celebrates the triumph of good over evil, the awareness of one's inner light, the dispelling of ignorance, and bringing peace and joy through the awakening gained from this higher knowledge," Maloney said in her remarks on the House floor. She added that this festive and important Indian holiday is also observed in America.

"But despite the significance of this holiday, the United States Postal Service has yet to merit Diwali with the same recognition as other major religious holidays for which stamps are issued such as Christmas, Kwanzaa, Hanukkah, and Eid," Maloney said.

Lit fest row: Police summons writer

Jaipur: Rajasthan Police have lodged an FIR under the SC/ST Act against eminent writer and Professor Ashis Nandy, whose statement regarding corruption among the SC/ST and OBC class fuelled a massive controversy during the recently held Jaipur Literature Festival 2013.

The police have summoned Nandy for questioning. Nandy on Saturday had stoked a major row with his comments that people belonging to OBC, SC and ST communities were the "most corrupt".

"It is a fact that most of the corrupt come from OBCs and Scheduled Castes and now increasingly the Scheduled Tribes," he said participating in a session at the recently conculded Jaipur Literature Festival.

Going further, he had said, "I will give an example. One of the states with the least amount of corruption is state of West Bengal when the CPI(M) was there. And I must draw attention to the fact that in the last 100 years, nobody from OBC, SC and ST has come anywhere near to power. It is an absolutely clean state."

Nandy's comments triggered a storm with BSP chief Mayawati and LJP leader Ram Vilas demanding registration of case under SC/ST Act against Nandy. Mayawati wanted him to be jailed immediately. Congress, BJP, JD(U), CPI as also the SC Commission Chairman P L Punia also condemned the remarks.

While seeking to clarify, Nandy made a flip flop saying he would apologise if he had been misunderstood.

Rate cut expected in RBI policy review

Mumbai/New Delhi: An Interest rate cut is widely expected in the Reserve Bank of India (RBI)'s third quarter review of credit and monetary policy for the financial year 2012-13 Tuesday after the government took steps to bring its finances under control and inflation moderated. The RBI last cut rates in April 2012 by 50 basis points.

The central bank has maintained a tight monetary policy in view of the government's ballooning fiscal deficit and high inflation rates. However, in last month's guidance, it said there was a "reasonable likelihood" of policy easing in the January-March quarter.

Analysts say a convergence of data and government policies builds a compelling case for a much-desired interest rate cut.

The government has partially deregulated the price of diesel and limited the number of subsidised cooking gas cylinders per household per year. Finance Minister P. Chidambaram has said the budget deficit would be contained in the current fiscal to 5.3 percent of Gross Domestic Product (GDP).