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Civil society methods should be rational: Pranab
Oppn not in favour of Hazare’s Bill
To defuse Anna crisis, govt pins hopes on Oppn
Anna Bill submitted to House panel
I thought I’d retired, but after Annaji’s call... am still working: Hegde
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SC: Horoscope can be age-proof evidence
Paschimbanga evokes mixed reactions
Nitish inspects flood-hit areas
Reddy wants an image change
Historian RS Sharma dead
Aerospace park in TN on cards
Book cops in rape cases, says panel
When Javed Akhtar had his way
Nagas call for indefinite bandh in Manipur
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Civil society methods should be rational: Pranab
Kolkata, August 21 Mukherjee said a new chapter had began in law formation. “It is good that the civil society has come forward to participate in the pre-legislative consultation. We don’t know if the attempt will be a success but it surely is a new attempt in our democracy”, he remarked. Mukherjee wanted that the process of the participation of the civil society in this regard should be rational and within the framework of the Constitution. Pranab Mukherjee questioned the way civil society leaders had been carrying on with their movement despite the Prime Minister making it clear that the government was open to dialogue on the Lokpal Bill. "The Prime Minister and the Home Minister have made the position of the government quite clear in respect of the issue. I have nothing more to add," Mukherjee told reporters here to a query. Speaking at a function in Howrah, Mukherjee said that the leaders of the civil society movement for a Lokpal Bill have given an impression as if they have become legislators. "The way the civil society movement is continuing in the country, it gives an impression that the leaders have become legislators," Mukherjee said. Prominent CPM politburo member Biman Bose, however, strongly criticised Anna Harare. He said the laws were needed for combating corruptions. But these laws could not be framed in streets and maidans but in the Parliament and the state legislatures. “We welcome Hazare’s fight against corruption but not the methods he has adopted”, he remarked, while talking to mediamen after the end of the party’s state committee meeting at Alimuddion Street. Manmohan Singh and Mukherjee today shared the dais with the Chief Minister Mamata Banerjee and the Governor M K Narayanan at the concluding ceremony of the diamond jubilee celebration of Saha Institute of Nuclear Science at Salt Lake. In his address, the Prime Minister applauded the country’s scientists and other intellectuals for their achievements in various fields. He assured them that his government would provide all help to the scientists and technologists to enable them to go ahead with their research works in their respective fields. The finance minister, the chief minister and the Governor also appreciated the young scientists and the researchers at the institute for their outstanding work. Tomorrow, the Prime Minister will attend the silver jubilee celebration of IIM, Joka in south Kolkata and the IIT, Kharagpur before his returning back to the capital. (With inputs from PTI)
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Oppn not in favour of Hazare’s Bill
New Delhi, August 21 The Opposition has already announced its plans to launch separate agitations for a strong Lokpal. Nine parties, led by the Left Front, will hold their nationwide agitations on August 23. The BJP has decided to hold demonstrations and dharnas all over the country on August 25 for a strong and effective Lokpal. BJP vice-president Mukhtar Abbas Naqvi has also written to Prime Minister Manmohan Singh to expedite the passage of the Lokpal Bill, if need be through a special session of Parliament but his letter is silent on Anna Hazare's demand that the official Lokpal be withdrawn from the Parliamentary Standing Committee and Anna Hazare's Bill be adopted. He told The Tribune, “The Prime Minister should sense the mood of the nation and act accordingly.” Others like Samajwadi Party president Mulayam Singh Yadav have also come out in support of Anna Hazare’s campaign against corruption. But that is where the Opposition support for Anna Hazare ends. There is, so far, no vocal support in the Opposition camp for scrapping the government’s Lokpal Bill, nor is any party willing to back his ultimatum to introduce the Bill by Tuesday and pass it before August 30. The BJP is cautious about anything which appears unconstitutional or denigrates Parliament and MPs. Last week, when Communications Minister Kapil Sibal posed a direct question to Leader of Opposition Sushma Swaraj what she thought of Anna’s letter undermining Parliament and MPs, Sushma had to dissociate her party from such an act. BJP spokesman Prakash Javadekar spelt out the position today saying, “We only say that a good strong Bill with the Prime Minister in it should be passed. This Bill is very weak and the selection panel for the Lokpal in this Bill is dominated by the government appointees. We are dead opposed to this Bill. We want a strong Lokpal with Prime Minister in it, that is our party position and nothing beyond that.” He, however, refrained from supporting Anna's Bill. As for the CPM, a member of its politburo said, “The Bill (Lokpal) introduced in Parliament is very weak. It needs to be strengthened. We demand a strong and effective Lokpal who will act as a deterrent against the prevailing corruption.” In the same breath, the member also said, “Parliamentary democracy should prevail.”
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To defuse Anna crisis, govt pins hopes on Oppn
New Delhi, August 21 UPA sources said if the opposition parties do not extend overt support to Team Anna’s street protests and continue to maintain their distance from its demand for the passage of its Bill by August 30, the situation could be brought under control within a reasonable time. On the other hand, it could take a turn for the worse if opposition parties like the BJP and Left Front, which have the capacity to mobilise cadres, join hands with Team Anna. “It all depends on the degree of their involvement as well as the nature of their involvement,” remarked a senior UPA minister, adding that the ongoing protests would acquire a different colour if Anna Hazare becomes a rallying point for a combined opposition. Although the UPA government came in for criticism from opposition parties for arresting Anna during last week’s debate on this issue in Parliament, none of them said they favoured Team Anna’s version of the Lokpal Bill. Nor has any opposition party asked the government to accept Team Anna’s demand for the passage of its Bill by this month-end. Drawing solace from this development, the UPA government believes it is critical to take the opposition into confidence. It is being suggested that senior leaders like Pranab Mukherjee should hold separate talks with opposition parties to explain the dangerous implications of Team Anna’s demands for parliamentary institutions and the need for unity among the political class. A senior UPA minister said no political party would accept the devaluation of Parliament. There is near unanimity in the ruling coalition that the government cannot and should not succumb to Team Anna’s ultimatum. At the same time, UPA leaders believe it is equally imperative to open a dialogue with Team Anna as it bungled badly by arresting the Gandhian, who has emerged as a symbol of people’s battle against corruption.
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Anna Bill submitted to House panel
New Delhi, August 21 "The Congress itself is keen on having a strong Lokpal Bill. Therefore, if Anna Hazare's Jan Lokpal bill is discussed along with the official Lokpal Bill by the standing committee, the final product is bound to be more meaningful and strong," Aron told IANS Sunday. As opposed to the Lokpal Bill, the Jan Lokpal Bill seeks to include the prime minister, the higher judiciary, the conduct of MPs inside parliament and the mass of government employees within its ambit. Hazare's fast for the Jan Lokpal Bill entered its sixth day Sunday. He is protesting at Ramlila ground in the capital. A member of the Lok Sabha from Bareilly in Uttar Pradesh, Aron said: "I have also sought an appointment with members of the (parliamentary) standing committee so that I can put across my arguments in favour of Jan Lokpal Bill." Aron said he made the request August 18. Abhishek Singhvi, Congress spokesman who is also chairman of the parliamentary standing committee related to the ministry of Personnel, Public Grievances, Law and Justice, said he had got a copy of the Jan Lokpal Bill as moved by Aron. "A copy was sent to me... We will discuss it. No view is closed," he said. — IANS
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I thought I’d retired, but after Annaji’s call... am still working: Hegde
New Delhi, August 21 Hegde, also a member of the Lokpal Joint Drafting Committee, said Hazare was not asking for the chair of Prime Minister or President but was only fighting against corruption and the need for a strong legislation to deal with the menace. “We are confident that we will all stand behind Annaji and his cause for any number of days. We stand by him until his demands are met,” the former Supreme Court judge told the large gathering at Ramlila Maidan, the venue of Hazare's indefinite on Lokpal issue. “Our leaders keep talking about people of the country being supreme. But in reality they have become supreme rather than the people. Public servants have become supreme.... Real independence has not reached the aam aadmi. His voice must be heard,” he said. Observing that corruption was one of the burning issues, he said: “Annaji doesn't want the chair of Prime Minister or the chair of President. He is just fighting for the cause of (eradicating) corruption. Can anybody say there is no corruption in the country or can anybody say it can be ignored?” he asked. Hegde said the country had been waiting for a Lokpal for the past 42 years when the first Bill on Lokpal was introduced in Parliament as no government could get the measure passed. He said there were many scams other than the 2G scam that have not come to light yet. “The CAG has recently released a report on KG basin. God knows how many zeroes will be there in that scam,” he said. Hegde said around 35 people had launched an indefinite fast in Bangalore to express solidarity with the Gandhian. “Day by day, the number of people coming to the fast site in support of them are increasing by the thousands. Yesterday there were at least 25,000 people at the candle light march at Freedom Park," he claimed. He said there was no "visible" development in rural parts of the country where many villages lacked electricity and primary health centres. “I thought I would spend my days at home after retirement. But after Annaji's call for fight against corruption, I am still working at the age of 72,” he said. “The consequences may be severe. How much time it takes, we should stand behind Annaji,” he told the gathering. — PTI
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SPOs taken off anti-Naxal drive: Chhattisgarh to SC
New Delhi, August 21 In a status report, the state government said it had also taken back the arms and ammunition given to the SPOs. “It is submitted that SPOs have not been deployed in any of the operations against the Maoists ever since the order. Arms and ammunition issued to the SPOs have been recalled.” Also, further deployment and duties of the members of the Auxiliary Armed Police Force would be “in strict compliance with the provisions” of an ordinance promulgated by the state government on July 28 this year, the state said. Under the ordinance, the state had absorbed the SPOs in the auxiliary police force for six months. In its order, the Supreme Court had ordered the state government to “immediately cease and desist” from recruiting tribals as SPOs or Koya Commandos and arming them to counter the Maoists or Naxalites, particularly in Dantewada and densely forested districts. The court had also directed the Centre to “cease and desist, forthwith, from using any of its funds for supporting, directly or indirectly, the recruitment of SPOs.” Further, the Bench had expressed dismay over the government’s assertion that the “only option for the state was to rule with an iron fist” to restore normalcy. It was unfortunate that the people of Chhattisgarh were affected by human rights violations committed both by the Naxalites and the government, the court had noted.
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SC: Horoscope can be age-proof evidence
New Delhi, August 21 “Horoscope is a very weak piece of material to prove age of a person and that heavy onus lies on a person who wants to press it into service to prove its authenticity,” a Bench comprising Justices Mukundakam Sharma and Anil R Dave held in a verdict. Explaining authenticity, the Bench said horoscope should have been prepared immediately after the birth of the litigant and by a person with special knowledge of making it. The creator of the horoscope or the writer must be examined to verify the handwriting. The apex court delivered the judgment on an appeal by the Registrar General of the Madras High Court over the dispute in the age of a person who had joined as Judicial Magistrate in November 1988. According to the school leaving certificate of M Manickam, he was born on March 19, 1947, but on the basis of his horoscope he claimed he was born on November 24, 1950. In other words, he contended he was younger by three years, eight months and five days as compared to the age mentioned on the certificate. The apex court, however, rejected Manickam’s contentions, observing that his horoscope had been made about 25 years after his birth. Further, going by the signature of his father on the school certificate it was clear that he was a “man of letters and there was no reason” as to why he would have given a wrong date of birth, it pointed out.
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Paschimbanga evokes mixed reactions
Kolkata, August 21 Cricketer Debang Gandhi feels that the changed name is appropriate. "I am happy that the government has settled for a name that is in our vernacular language." An all-party meeting here yesterday, presided over by Chief Minister Mamata Banerjee, unanimously decided to rename the state as 'Paschimbanga.' Expressing happiness that the name 'West' has been dropped from the state's name, veteran writer and Sahitya Academy chairman Sunil Ganguly said, "but the word 'Paschim' remains. It would have been better if the name 'Bangla' was adopted since the rest of the country refers to the state as 'Bengal' in English and 'Bangla' in Hindi." To educationist Sunanda Sanyal, 'Paschimbanga' is the best option. "Earlier West Bengal came last during national presentations owing to its alphabetical position. Paschimbanga is better," he said. During the tenure of Jyoti Basu, the Left Front government proposed the name 'Paschimbanga,' while Congress wanted it to be 'Bangla.' Agreeing to the Congress' suggestion, the government passed a resolution in the Assembly seeking the change of name to 'Bangla.' This time, however, the Left suggested the name 'Bangla,' while the Congress wanted 'Paschimbanga.' Parliamentary Affairs Minister Partha Chatterjee told newsmen after the all-party meeting that the government wanted to change the name of the state to get the administrative advantage. Actor-film-maker Aparna Sen thinks that the state should have been renamed 'Bengal' to move it up the alphabetical ladder. "I don't see the point in renaming the state Paschimbanga as the letter P is low in the alphabetical ladder. Bengal would have been better," she said. Partha Mitra, a medical representative and amateur group theatre actor, said there has hardly been any change since the West Bengal had always been referred to as Paschimbangla in Bengali. "East Bengal doesn't exist. So why call the state Paschimbanga?" Mitra asked. Dissident Trinamool Congress MP Kabir Suman, however, sees no difference in the new name. "We were already calling the state Paschimbanga in Bengali. So what was wrong with West Bengal?" he said. The BJP, which had objected to its exclusion from the all-party meet that decided on the change of nomenclature, had earlier opposed a proposal to drop the word 'West' or 'Paschim' from the name of the state, saying that it would be obliterating a part of history: the partition of India. — PTI
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Finally, Uttarakhand’s ‘Binayak Sen’ Rahi freed
Dehradun, August 21 Rahi, who is popularly known as Uttarakhand’s Binayak Sen, today denied being zonal commander of the CPI (Maoists) or having links with any armed struggle. However, he admitted being sympathiser of the Maoist movement. Interacting with mediapersons in Dehradun, Rahi said the Uttarakhand Police wrongly portrayed him as a Maoist commander and the laptop and the hard disc shown to be confiscated from his possession were all concocted. Rahi was arrested by the Uttarakhand Police on December 22, 2007, primarily on the charge of being a zonal commander of the CPI (Maoists), a charge which he has denied all through. The Uttarakhand Police had claimed that Rahi was a threat to the security of the state due to his Maoist links. A week ago, the Nainital High Court had granted bail to Rahi, following which he was released from the Hariwar jail today. Rahi alleged that he was tortured by the police when he was in the jail. He claimed that he was picked up from Dehradun itself on December 17, 2007, and not arrested at Nanakmata as claimed by the police. “I was picked up from Araghar Chowk, Dehradun, by policemen in civil clothes, who came in a Maruti van. I was blindfolded and taken to Haspur Khatt in Udham Singh Nagar, from where I was shown as arrested,” Rahi alleged, adding that during the way he was tortured. He said during his imprisonment, no journalist was allowed to meet him. “A few, who came to meet him, visited him in disguise of friends and not mediapersons,” he added. Rahi expressed gratitude to the mediapersons and his friends for their unstinted support to him all through his ordeal. Referring to his future course of action, Rahi said he would now continue to raise the issue of landless and poverty-ridden classes. He also expressed his concern over various innocent Maoist sympathisers languishing in jails. He said he would work for the release of those sympathisers. Shikha, who had launched a crusade for her father’s freedom, and Revolutionary Democratic Front’s Uttarakhand president Jeewan Chand were also present.
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Nitish inspects flood-hit areas
Patna, August 21
Kumar carried out an aerial survey of the flood-affected region like Bhagalpur, Katihar, Navgachhia, Munger, Khagaria, Begusarai, Bhojpur, Chapra, Buxur, Vaishali, Samastipur, Lakhisarai and Patna to take a stock of the flood situation. He directed the officials of the flood-affected districts to provide relief materials, including polythene sheets, to the affected people. Kumar further directed the district officials to keep abreast with the flood situation round-the-clock and monitor relief measures. The Chief Minister said the Health Department had been directed to arrange for medicines and DDT sprays to check outbreak of diseases once the floods subsided. — PTI
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Reddy wants an image change
An elaborate Rs 100 crore plan is being prepared to boost publicity for the government schemes and project him as a clean and efficient leader. The recent “state of the nation” survey, commissioned by a television channel, showed that Kiran, a cricketer-turned-politician, occupied the lowest rung of the popularity ladder among the 20 Chief Ministers. Chosen by the Congress high command to succeed the septuagenarian leader K Rosaiah in November last year, Kiran is saddled with a plethora of challenges, including an intensifying Telangana statehood agitation, internal squabbles and the growing political threat from the fledgling YSR Congress Party headed by YS Jagan Mohan Reddy. Kiran’s advisers and officials have drawn up a scheme to improve his brand image and visibility among the public through huge hoardings at key traffic junctions in major cities, wall writings detailing the government schemes, prominently displaying his photos on the publicity material pertaining to the welfare schemes and rechristening some of the programmes after him. A Rs 27-crore proposal has been cleared for installing massive hoardings with eulogising references to the Chief Minister and his dream for the state’s progress and prosperity. Similarly, about Rs 70 crore will be spent on wall writings across the state that will give details of various ongoing welfare schemes with Kiran’s picture being prominently displayed on them. This apart, the officials are insisting that the mobile emergency medical vans, christened as “108 Service”, must carry the picture of the Chief Minister. This is a popular service even among the rural voters. The focus of the current exercise is to build a brand image for Kiran. According to official sources, the Chief Minister is particularly worried that his hard work is going unrecognised by the people. There is a growing feeling among Kiran’s supporters that the prevailing volatile political atmosphere, in the wake of the Telangana agitation, has deprived him of his due share of positive media coverage. Though the Chief Minister has been extensively touring the state and launching development programmes on a regular basis, the general perception about his government is that it has been ineffective and uninspiring.
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Historian RS Sharma dead
Patna, August 21 Sharma was undergoing treatment for various ailments at a private hospital where he breathed his last yesterday, they said. Chief Minister Nitish Kumar has expressed grief at the demise of the renowned historian and said Sharma would be remembered for his academic achievement. — PTI
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Aerospace park in TN on cards
Chennai, August 21 Official sources said the TIDCO was scouting for land for an MRO (Maintenance, Repair, Operations) facility near the Chennai airport and has requested SIPCOT (State Industries Promotion Corporation of Tamil Nadu) to allot 100 acres in suburban Sriperumbudur. This is mainly for setting up of aircraft-component manufacturing park. Larsen and Toubro-Ramboll has been appointed consultant to carry out the feasibility study and marketing assistance. The project is being set up on 3,000 acres in Perambalur special economic zone, where an integrated aerospace park would come up with the focus on manufacturing and assembling aircraft, the recently tabled policy note in the Assembly said. “Creating an aerospace park which can support manufacturing and assembling of an aircraft is the ultimate objective of this programme,” it said. On setting up of the first Financial City, media and entertainment park near Chennai, Industries Minister SP Velumani said 187 acres had been identified at Sholinganallur and Perumbakkam villages near the “IT Corridor”. Price Waterhouse Coopers (PwC) has been appointed as consultants for preparing a comprehensive development plan. Tenders for selection of a developer or a joint venture partner to develop the first phase of Financial City on 25 acres would also be floated, the policy note said. The government has also allotted 7,900 acres for SIPCOT for allotment to industries. “..land acquisition is in progress. Accordingly 1,179 acres (in Tuticorin), Cheyyar (Vallam-Vadagal) 1,780 acres, expansion of Oragadam 616 acres, Madurai Industrial park 1,478 acres and a new industrial park at Villupuram district at 720 acres have been sanctioned,” it said. The SIPCOT would thus be able to allot them to industries whenever required. The SIPCOT has also allotted 100 acres to set up separate country-specific industrial clusters for investors from Japan, Korea, Finland, Germany and France to attract more foreign investments. “Under this proposal, acquisition of land in Sriperumbudur is in progress,” it said. — PTI
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Book cops in rape cases, says panel
New Delhi, August 21 Commission chairman PL Punia said that on the basis of affidavits given by the seven alleged rape victims of Bhatta Parsaul, commission's member Latha Priyakumar has written to Noida SSP for registration of rape cases against the accused cops. Following clashes between protesters and the police in the village and neighbouring areas in May, Congress general secretary Rahul Gandhi had visited the affected farmers and alleged that burnt bodies were found and women were raped, which raised a political storm with Uttar Pradesh Government denying the charges. Women and Child Welfare Minister Krishna Tirath in a written reply in Rajya Sabha on August 12 had said there was no confirmation of any rape in Greater Noida villages in Uttar Pradesh. The minister said in her written reply that “an inquiry committee constituted by the National Commission for Women visited the Bhatta Parsaul villages in Uttar Pradesh on 12-05-2011. No specific case of rape has been confirmed by the Inquiry Committee.” Punia said the seven victims of the village had personally appeared before the commission member Latha Priyakumar last week and testified that they were raped by the Noida policemen. Besides registration of rape case, the commission member hearing the case has also sought re-investigation into the charges made by the seven alleged victims. “The Commission has written to the SSP for re-investigation of the case, which should be done by a woman police officer,” Punia said. — PTI
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Jantar Mantar
Lycricist-scriptwriter Javed Akhtar enjoys a lot of clout in the UPA dispensation. Not only did the ruling coalition nominate him to the Rajya Sabha, but it went out of its way to amend the Copyright Bill to accommodate his demand that lyricists and composers may not waive off their right to receive royalties to the producer for using their material in media other than films. It is well known that Javed Akhtar had been lobbying hard for these amendments with ministers and senior Congress functionaries. Human Resource Development Minister Kapil Sibal apparently brushed off objections from his colleagues when the Bill was discussed by the Cabinet recently, stating that it was only the Southern film industry which had opposed these amendments while these had endorsed wholeheartedly by the leading lights of Bollywood like Javed Akhtar and Mahesh Bhatt. Bristling at Sibal’s casual reference to the South Indian film producers, new Environment Minister Jayanti Natarajan, who is an avid film buff, reminded him curtly that South India has a huge and thriving film industry and its views could not be dismissed lightly. Home Minister P Chidambaram backed her, but to little avail.
Matrimonial vs political alliance
Lok Sabha MP M. Thambi Durai from the AIADMK has a serious problem on hand these days. His daughter wants to marry the son of a local Congress leader and he does not know how to break this news to his supreme leader, Tamil Nadu Chief Minister J. Jayalalithaa, who exercises complete control over her party members. Worried that he could invite his leader’s wrath, Thambi Durai has been fobbing off his daughter on some pretext or the other. But his daughter remains adamant and is insisting that he take a quick decision on her marriage. Thambi Durai is now planning to approach Jayalalithaa to get her approval before he sets the date for the mahurat but, in the meantime, he is persuading the boy’s father to desert the Congress and join the AIADMK.
Size matters for seating
Rajya Sabha chairman Hamid Ansari received an unusual request from West Bengal member Tutu Bose, who completed his term in the Upper House last week, to make way for his son Srinjoy. Bose, who weighs no less than 100 kg, requested the chairman during the course of his farewell speech that special seating arrangements may be made for his son who happens to be twice his size. A flummoxed Ansari asked Rajiv Shukla, Minister of State for Parliamentary Affairs, if something could be done in this regard. Shukla informed him that it was not possible to arrange for a separate chair for any member since all the seats are numbered. But the ever-creative Shukla came up with a quick solution: seat a thin member next to the bulky Srinjoy Bose so as to avoid a squeeze.
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Nagas call for indefinite bandh in Manipur
Guwahati, August 21 The UNC-sponsored bandh has affected all Naga inhabited districts, including Senapati, Chandel, Ukhrul and Tamenglong, besides crippling traffic on the NH-39, NH-53 and NH-150 much to the worry of the people in Manipur valley. The UNC said its counter-agitation was a move to express Naga people’s resentment over “attempts to bifurcate Naga areas in order to create new districts”. The UNC has accused the Manipur government of mishandling the present crisis over the SHDDC agitation. There have already been violent agitations along the NH-39 and NH-53 with scores of vehicles and government offices set on fire by the SHDDC volunteers since August 1 last. “Handling of the present crisis and the biased attitude demonstrated by the government of Manipur has been viewed as a deliberate attempt to pit one community against the other,” alleged the UNC that reiterated that it would not accept bifurcation of “Naga areas” without the wishes and consent of Nagas. The Sadar Hills area is a part of Naga-dominated Senapati district. The UNC then stated that the Nagas had signed four memorandum of understanding (MoUs) with the government of Manipur, wherein the MoU of 1998 stated that resolution to the conflict on the issue of Sadar Hills will be brought about through a consensus of the people concerned in the interest of bringing about lasting peace and harmony between the Nagas and the Kukis. Meanwhile, Manipur Pradesh Congress Committee (MPCC) president Gaikhangam has stated that though the demand for the creation of a Sadar Hills district was genuine, any hasty decision may precipitate an unwanted situation. Chief Minister Ibobi Singh has said that granting of the demand for a full-fledged Sadar Hills district cannot override the peace of the state and the sentiment of other communities.
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Personal finance
These are the three questions I am encountered with most persistently as a financial market professional. I am sharing with you my perspectives & observations on these three crucial areas of investor
concern.
Asset Allocation
To sum up, when you diversify across asset classes you not only reduce dependency on one asset class, but also gain handsome returns by switching across assets over
time. A simple rule to remember is that higher the risk, higher the return. So balance your investments between FDs, Mutual Funds, Equity, Gold etc. based on your objective.
Please remember that the markets are dynamic, so you can't just allocate your resources & forget it. You need to stay in tune with the trend if you want your investments to bring home better yields.
Retiring wealthy
For example, if one wants Rs 1 crore at 60 years, a 50-year-old guy needs to save Rs 55,000 per month to get 1 crore in next 10 years,assuming a return of 8% every year. However, a 40-year-old investor needs to save Rs 17,000 a month to get Rs 1 crore at
60. Remember, a 20-year-old young investor can get Rs 1 crore at 60 by investing only Rs 2,500 per month. It's really amazing yet very simple.
Compounding is the best reason for starting early. The sooner you begin investing the better - every day that you are invested is a day that your money is working for you. Make a conscious attempt to start saving from today. It's a very good habit.
Can I be the next Warren Buffet?
Equity investors in India don't have wonderful experiences compared to what they read in books. When you read about success of Warren Buffet and when you see that the stocks you invested in last year are down by 50% today, you feel Buffet has a magic wand to make things work for him.
The process of equity investing is simple to understand but tough to follow.
It requires patience, discipline and understanding of the subject. Buying stocks based on rumors or tips may work for you for some time, but in most cases it doesn't work for you. The strategy does not click not because you bought bad stock per se, but because of a lack of understanding and depth with the investor as well as the advisor.
I would suggest, invest in equities if your financial goals are more than five years away. You may invest directly into the equity markets, if you have the skill and the time. Alternatively, consider efficient equity mutual funds and ULIP funds.
You can invest in these funds either in lump-sum or you may also consider investing in a systematic way over a period of time.
Discipline is all about investing for long-term and monitoring it regularly. One big mistake every investor should avoid is to try and time the
market. As Peter Lynch pointed out in his investors test, an investor who tried to time the market over the past 20 years had the misfortune to be out of the stocks and in cash during ‘the best 15 months’. This investor has given up 76% return in that 15-month period.
The key and time-tested mantra for investors will always remain the following. Invest regularly for long term, stay away from hype, focusing on value, selling when there is greed and buying when there is fear.
By following these you may not be able to catch the top and the bottom of the market cycle perfectly, no one can do that anyways, but you can surely, more than often, emerge as a winner. Best wishes to you for accomplishing your financial goals.
Vikram Kotak is Chief Investment Officer at Birla Sun Life Insurance Co. Ltd. He is a qualified chartered accountant and is experienced in debt & equity markets, corporate finance & research. The views expressed in this article are his own
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Global cues to dominate sentiment
Europe faces bank liquidity and bank solvency crises of different degrees of severity through most of the Euro area.
Apprehensions that France would be downgraded from AAA levels has created uncertainty as it could lead to problems for France and other European nations in terms of capital adequacy and adverse consequences for some banks in France and elsewhere in the
EU Indian domestic market opened high following recovery in global market but was not able to sustain due to various concerns hovering the mind of
investors. Although the week was only of four days the market fell 4.5 per cent, which in fact was more than global counterparts. The major concerns apart from global slowdown are continuation of high inflation and interest rate which would impact the investments in infra and capital goods.
Interest sensitive sectors like Banking, Reality and Auto were worst affected as still apprehensions are there that RBI may raise interest rate by 25 basis points in September. Non-performing asset (NPA) management and credit growth are the two major challenges to be faced by banks. Towards the fag end of the week IT sector also reacted downwards due to US recession concerns. The mid caps and small-caps reacted more than nifty shredding 6.5 per cent and 8 per cent respectively.
Gold prices went up as considered to be safe investment and people start shifting their investment from the risky high beta equity investment to the fixed income investment and Gold. The markets in terms of valuation has become compelling as it is trading at a multiple of 13.1 for FY12, which is much below the long term average of
15. In the coming week, Nifty major support is at 4,750 but if it breaks the same then one should be cautious in the short term.
However we recommend the investors that risk return trade off is now favourable and one should invest in large caps which are fundamentally sound but every dip in the market would be a buying opportunity as Indian domestic story is intact.
(Madhumita Ghosh is Senior Vice President- PMS & Research, Wealth ManagementUnicon Financial Intermediaries Pvt Ltd. Views expressed are personal)
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FMCG: A BRIGHT SPOT IN A SLOWING ECONOMY
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Kolkata, August 21
Contending that corruption can no longer be ignored and the voice of the ‘aam-aadmi’ should now be heard, former Karnataka Lokayukta N Santosh Hegde today expressed confidence.
Lycricist-scriptwriter Javed Akhtar enjoys a lot of clout in the UPA dispensation. Not only did the ruling coalition nominate him to the Rajya Sabha, but it went out of its way to amend the Copyright Bill to accommodate his demand that lyricists and composers may not waive off their right to receive royalties to the producer for using their material in media other than films. It is well known that Javed Akhtar had been lobbying hard for these amendments with ministers and senior Congress functionaries.
Hyderabad, August 21
Asset allocation sounds a very serious subject, but it is simple if you try it. Asset allocation is the most important decision that an investor must make to achieve his financial goals and effectively manage risks. It is simply not putting all your eggs in one basket. For example interest rates and equities normally have negative correlation, which means they move in opposite directions. So if you are investing only in one class, you are more likely to face short-term jerks.
Let’s look at some data, in the last 10 years, equity markets have given 17% Compounded Annual Growth Rate (CAGR) on its popular BSE 30 or Nifty 50 index. This is against bank fixed deposits, which have given average return of 9%. Inflation in India in the last one decade has averaged between 7-8%. Now, if an investor had all his money in bank deposit, he would have worried, as he generated only 1-2% real return (real return is Gross return - inflation rate).
Let us turn our attention to the last three years. The equity markets have given less than 2% CAGR, with inflation over 8%. So here a Bank fixed deposit has fared better than equity market. However, another asset like Gold has given more than 25%
CAGR. 
Look at risk-return ratios & decide what risk & return suits
you.
Another question commonly faced is how can I become wealthy quickly, retire at 40 or 45 and enjoy right through my retirement years. My answer to that is to start saving
early.
Global markets continued to bleed on Euro zone
concerns.
While the Euro zone sovereign debt issue will continue to plague the markets, ECB and the Euro zone will resort to all possible means in order to thwart any major
collapse.
Even though items of your personal consumption may be costing you just a little more than previously, the Fast Moving Consumer Goods (FMCG) category is emerging as one bright spot in an otherwise slowing economy.
