AAP demands rupees one crore compensation to Delhi Police martyr

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Posted on June 17, 2014 by sagarmedia,

From: Media Cell AAP1 <mediacellaap1@gmail.com> Tue, 17 Jun ’14 4:02p 

 

 

Dear all,

 

Please find attached Aam Aadmi Party National Convenor Arvind Kejriwal’;s letter to Hon. Lt. Governor of Delhi Shri Najeeb Jung about martyrdom of Delhi Police Constable Shri Manna Ram.

 

Constable Manna Ram was run over by a car when he tried to stop it from entering the No Entry Zone near Zakheera over-bridge.

 

Arvind Kejriwal has pleaded in the letter that Martyr Manna Ram’;s family should be given an ex-gratia of Rs 1 crore. 

 

Regards

 

AAP Media Cell

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Rukayya Begum gets a selfie with Salman Khan

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June 17, 2014 by sagarmedia

The actress did not wait for a second when she saw the Dabangg Khan shooting for his upcoming movie
near the set of Jodha Akbar and rushed to meet him!

While Salman Khan has been at the receiving end of a lot of fanfare over the years, an incident couple of days ago had him completely speechless and grinning. The dabangg Khan was shooting for his upcoming movie in Karjat very close to the sets of Zee TV’s historical drama - Jodha Akbar.  Seeing the actor, getting out of his vanity van, Lavina Tandon ( who plays Rukayya Begum of Jodha Akbar) immediately sprinted to meet the star.

Being the chivalrous man he is,  Salman spent a good amount of time chatting up with the beautiful lady, talking about his upcoming film and her show ‘Jodha Akbar’. While Lavina was on cloud nine on meeting Salman Khan, Salman was stunned to see Lavina suddenly race from her set next door to meet him. If sources are to be believed, the two did not just chat up, but also ended up clicking selfies. Fulfilling her dream of meeting the superstar, Lavina’s happiness knew no bounds after having a word with him. We asked Lavina for her pictures with Salman but she said, “No! This is my personal, private, prized possession … I don’t want this for publicity!”

The visual of a much adorned Mughal era royalty clicking a selfie with a contemporary superstar was striking and had the unit members of Salman’s film chuckling! Do we get to see Lavina in any of Salman’s forthcoming films? All the best, Rukayya!

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Why India needs a weaker rupee

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Why India needs a weaker rupee 

 

Rajiv Kumar

To Me

 

Today at 3:23 PM

Dear Mr.Sagar I am forwarding my latest article Why India Needs a Weaker Rupee which is in continuation from last week’s publication. This appeared in The Financial Express on Tuesday 10th June 2014. Your comments are always appreciated. With Best Regards Rajiv Kumar    Why India Needs a Weaker Rupee The theoretical understanding is that a weak or depreciated currency increases export competitiveness and results in higher exports. The East Asian experience of Japan, China, Korea and Taiwan reinforces this understanding. It is a well-known fact that China achieved its export-led double-digit growth by keeping its exchange rate deliberately undervalued. South Korea and Taiwan had experienced sharp export-led growth in the 1960s and 1970s. During the 1950s, both these countries engaged in traditional import substitution policies, with multiple exchange rates, high levels of trade protection, and repressed financial markets. But, by 1960s, the two countries adopted export-oriented policies which included unification of exchange rates accompanied by currency devaluations. These measures together with other policies like duty-free access for exporters to imported inputs, liberalisation of the import regime and public investment in infrastructure and human capital helped exports to take off in the mid-1960s, and the high growth rate of exports was sustained in the next two decades. This is the essential core of the widely known East Asian miracle. Chinese exports also took off in early 2000 after the currency was unified in 1998 and effectively depreciated by nearly 30% as China was securing its entry into the WTO. Since then, exports rose by an average of 20% annually, increasing its share in world exports, higher than Japan and overtaking Germany as the world’s largest exporter in 2009. Given the above mentioned success of the East Asian economies, their experience should be attractive to the Indian policymakers. However, the argument has been made that, for various reasons, normally not explained, but relying on past performance, Indian exports do not respond positively to currency depreciation. A simple regression exercise between export growth, global growth and real effective exchange rate (REER—using the consumer prices for calculating the relative inflation ratio) yields a positive correlation between export growth and both rupee appreciation and world GDP growth. Regressing non-oil export earnings with REER also yields similar results. These findings correspond to those found in research reports of JP Morgan, Moody’s and NIPFP research by Bhanumurthy and Sharma. In the paper Impact of Exchange Rate Appreciation on India’s Exports by Veeramani in 2008, it was concluded that “…the appreciation of the REER leads to a fall in the dollar value of India’s merchandise exports. However, the degree of the (negative) association between exports and the REER has declined since 2002.” These empirical findings lead to the non-intuitive conclusion that a depreciated currency would not help India’s export performance and global income is the only and by far the stronger driver of Indian exports. Such an argument helps the cause of capital market operators and those seeking to raise external commercial borrowings as it lowers the cost of debt servicing. However, on further empirical probing, it turns out that India’s export behaviour is not all that different from other Asian economies and also not as vexingly counter-intuitive as the above simple regression analysis would have us believe. First, service exports, the fastest rising component of external earnings and particularly software exports, emerge to be clearly and significantly negatively correlated with exchange rate movements. This finding is substantiated by higher revenues of IT and BPO companies as rupee depreciates. Second, we achieve a statistically significant result when merchandise exports are regressed together (and not independently) with both global growth and currency exchange rate with one year lag. Merchandise exports emerge to be positively correlated to global incomes in the same period but are negatively correlated with the REER with a lag of four quarters. This makes eminent sense. Export orders result in physical exports with a time lag that varies across export products. In the case, for example, of mineral exports, only a sustained currency advantage would result in the needed capacity expansion necessary for expansion in exports. Therefore, when carefully analysed, even in the case of Indian exports, we cannot ignore the impact of rupee exchange rate on export performance. We believe exchange rate has to remain stable and relatively depreciated for a sustained period for it to have a positive impact on exports. The exporters have to be assured against currency appreciation if they are to make exports more than just a residual activity. If employment generation is the policy objective, as it should be, export expansion must be an integral part of the policy package and sustaining high export growth requires an assurance of long-term currency softness for the exporters to make the necessary capacity expansion. Several factors like global demand, productivity, competitive infrastructure, trade policies etc contribute to export growth. But we can argue that merchandise goods exports are helped by weak rupee if the depreciation of exchange rate is sustained over time and its volatility is minimised. India’s currency remained considerably overvalued on REER basis from 2012 to first part of 2013 that resulted in a loss of competitiveness of our export sector. This must be rectified and the new government must unambiguously spell out its preference for export promotion in order to achieve its objective of rapid employment generation. India’s services exports—especially software services—are relatively more price-elastic and benefit from a weak rupee. India’s share of services exports in the world improved at a much faster pace than its share of merchandise exports. Services sector contributes around 60% to India’s GDP, 35% to employment, 30% to exports and accounts for more than 40% of FDI into the country. Promoting services exports—that include software, in-bound tourism, health sector earnings—and encouraging our NRI remittances and discouraging outbound tourism and payments to non-resident factors of production requires a suitably depreciated rupee. These measures will provide a real improvement in our current account balance and not the protectionist or administrative measures adopted recently. Therefore, RBI needs to keep a sharp eye on any tendency for the rupee to appreciate, as an overvalued currency hurts India’s composite external earnings and helps directly in widening the current account deficit, thereby increasing the country’s structural external sector vulnerability. RBI’s pronouncements and policy stance should assure India Inc that it will not let the rupee appreciate and will work to reduce currency volatility. RBI Governor Raghuram Rajan had recently quoted a study by the finance ministry which showed that 60-62 was a reasonable range for the rupee against the dollar, given the CPI inflation, export competitiveness etc. We should assure the exporters of keeping it at that level and build up India’s foreign exchange reserves if that is needed to do so. Strong appreciating currency is politically very seductive. With the emergence of strong decisive government at the Centre after the recent elections, capital flows are expected to increase in the short-term, resulting in an appreciation of the rupee. But the new government should resist this temptation to let the rupee appreciate prematurely. Its first priority is employment generation and, for that, the higher the rate of growth of external earnings, the better. Higher exports also result in higher industrial production and higher inflows of foreign direct investments as opposed to portfolio investments that are fickle and result in asset price bubbles. A relatively weak rupee has several advantages. It will inhibit merchandise and service imports; curb wasteful energy-intensive consumption; encourage import substitution; and promote energy conservation and the drive to become energy self-reliant. The exchange rate policy implications for both the government and RBI are hopefully unequivocally clear. (Concluded) Rajiv Kumar & Geetima Das Krishna (Rajiv Kumar is a senior fellow and Geetima Das Krishna is a senior researcher at the Centre for Policy Research, New Delhi.)

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US to send troops to Iraq for their embassy

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Obama today  announced that up to 275 military personnel will be deployed to Iraq after fighters from the Islamic State of Iraq and the Levant (ISIL) seized control of the country’s north and  troops will provide support and security for US personnel and the country’s embassy in the capital, Baghdad. “This force is deploying for the purpose of protecting US citizens and property, if necessary, and is equipped for combat,” Obama said in a letter to US legislators.”This force will remain in Iraq until the security situation becomes such that it is no longer needed.” Obama said he was notifying Congress under the War Powers Resolution.

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BRAZILWORLD CUP 2014:GERMAN,US, WIN, IRAN NIGERIA DRAWS

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Germany beat Portugal 4-0

 

SALVADOR: German ,Portugal match did yielded requisite rhythm for the world class players,spped of euro laden players was quite blended withbountiful of energy,skill and kill for goal although lady luck evadedCristiano Ronaldo but his confidence,to his shots, passes, dribbles through counterparts were subdued by collective best display of German  with Thomas stole the show from the beginning.

German, France Portugal,Italy, English to play Latin American teams will bring the technique and stamina combination to its best. Thomas Mueller scored a hat-trick as Germany beat Portugal 4-0.Cristiano Ronaldo´act of dominating the World Cup was in tatters on Monday.

Bayern Munich star Mueller bagged the first treble of his international career as Germany shrugged off a troubled build-up to the tournament to make a flying start in Group G. But it was a disastrous afternoon at Salvador´s Fonte Nova Arena for Ronaldo and Portugal, who had defender Pepe sent off for a first half headbutt on Mueller.Germans were already leading 2-0, thanks to a penalty from Tomas Muller in the 12th minute and a Mats Hummels header in the 32nd minute, when Portuguese defender Pepe was sent off for head-butting Muller in an off the ball incident.Muller scored his second in added time of the first half and went on to register the first hattrick of this year’s finals in the 78th minute.The Germans would have saved some energy after hardly exerting themselves in the second half.

Portugal and Cristiano Ronaldo will have a lot of thinking to do before their next match. They will have to sort out their defence as their frailties at the back was there for all to see.

Portugal had the first shot of the goal but Hugo Almeida’s tame effort was easily saved.

Ronaldo, who scored all the goals in the win over Sweden including a hattrick in the second leg, then tested Manuel Neur from a tight angle.

Germany slowly started exerting their dominance over the proceedings and strung together some precise passes.

Sami Khedira had a golden chance to give Germany the lead in the eighth minute but his first time shot after a poor clearance from the Portugal keeper went centimetres wide with an open goal waiting.

Just minutes later, the Portugal right back brought down Mario Goetze inside the box to give Germany a spot kick, which Muller slotted in with great precision.

Germany soon started dictating the tempo of the game and looked very comfortable and patient in possession with Portugal struggling to get hold of the ball.

Hummels doubled Germany’s lead with a bullet header from a Toni Kroos corner.

Then came a moment of madness from Pepe.

The Portugal centre-back appeared to push a hand into the face of Muller. The German went down theatrically much to the annoyance of the Portugal defender, who pushed his head into Muller.

The referee had no option but to brandish a straight red card.

With ‘Ole’ chants ringing around the stadium Muller put the game beyond Portugal after Bruno Alves failed to clear his line.

The second was a much slower affair with Portugal failing to breach the opposition defence.

Germany, meanwhile, coasted along with coach Joachim Loew ringing in the changes.

Muller scored his eighth goal in World Cup finals poking in from close range after Portugal keeper palmed Andre Schurrle’s cross straight into the German forward’s path.

Ronaldo tried his best to get onto the score sheet and almost did in the final minutes of the game but his stinging free kick found Neur in the way.

Mueller opened the scoring from the penalty spot after 12 minutes before defender Mats Hummels doubled Germany´s advantage on the half-hour mark.The 24-year-old center forward struck again at the end of the first half before tapping home a close range effort on 78 minutes.

Portugal was in tight spot by the sight of Real Madrid defender Fabio Coentrao being stretchered off in the second half.  Ronaldo hoped to sparkle at the World Cup after helping Real Madrid to the Champions League this season.The 29-year-old winger, who was battling injuries before the tournament, had declared himself 100 percent fit on the eve of the match. The former Manchester United star looked way below his best, and a poorly scuffed free-kick summed up his afternoon of disappointment.

Nigeria, Iran on draw

CURITIBA: -Nigeria and Iran became the first sides to draw at the 2014 World Cup as they played out a turgid 0-0 draw in Curitiba on Monday. Duo side showed much creativity and the final whistle was met by a cacophony of boos from the mainly Brazilian crowd.

After a bright start from Nigeria, Iran who forced the only meaningful save of the afternoon from Vincent Enyeama as the Lille goalkeeper parried Reza Ghoochannejad´s headed effort. A point apiece leaves both sides tied for second place in Group F with Argentina leading the way thanks to their 2-1 win over Bosnia and Hercegovina on Sunday. Nigeria started by far the better of the two sides and had an effort on goal inside three minutes as Victor Moses´ low shot was comfortably held by Alireza Haghighi.

The African champions had the ball in the net moments later, but Ahmed Musa was adjudged to have fouled Haghighi as they challenged for a high ball before Ogenyi Onazi slotted inches wide with Nigeria´s best opening of the half. Nigeria then dropped as they were forced into a change midway through the half when former Everton defender Joseph Yobo replaced the injured Godfrey Oboabona. Iran´s only effort on goal in the opening 45 minutes produced the best stop of the game as Enyeama had to leap to his right to parry Charlton Athletic striker Reza´s header to safety from a fine Ashkan Dejagah corner.

With no sign of a breakthrough coming early in the second-half, Nigeria boss Stephan Keshi introduced Newcastle United´s Shola Ameobi for the ineffectual Moses. Iran then went onto have their best spell in the game with Adranik Timotian firing wildly over when well-placed inside the area.Nigeria ended the game with four strikers on the field in the search for a winner as Stoke City´s Peter Odemwingie was also introduced.Ameobi came close to breaking the deadlock, but his flicked header sailed wide and he was adjudged to have fouled his marker in the process.

Nigeria´s abundance of forward players was leaving them more susceptible to the Iranian counter-attack, however, and Dejagah should have done better when he was picked out at the far post but failed to make a proper connection with his header.

The draw leaves Iran still in search of their first ever World Cup victory, whilst Nigeria´s winless streak in the competition extends to nine games stretching back to 1998.
Nigeria and Iran delivered the first draw of the World Cup on Monday as they ground out a scrappy 0-0 stalemate in their opening match in Group F.
The draw at the Arena da Baixada followed 12 mostly high-scoring and attacking games.After a first half in which Nigeria failed to capitalize on its dominance, the chances were few and far between in the second.

Nigeria came closest to breaking the deadlock in the seventh minute when an Ahmed Musa goal was disallowed after John Obi Mikel was adjudged to have fouled Iran goalkeeper Alireza Haghighi at a corner.

Iran pressed more as the game wore on and nearly scored in the 34th when a Reza Ghoochannejhad header required a sharp save from Nigeria goalkeeper Vincent Enyeama.

US dramatic win over Ghana

US fans  scream for revenge played through the ground after the Black Stars eliminated the Americans from the last two Cups.

Play for ninety minutes   of  see-saw  action, US finally  emerged with a thrilling 2-1 win over Ghana. when Substitute John Brooks  scored a late winner for US in a exciting finale to their opening game against Ghana.

Clint Dempsey scored a shocking goal a half-minute in, but  US  did not hold on to their lead. Captain Demspy finished  first-half with a tissue up his nose to stop the bleeding after John Boye’s kick to his face during a battle for a header in the 31st minute, and he was struggling for breath in the second.

Andre Ayew tied the score  minute after a brilliant back-heel pass from Asamoah Gyan, who had eliminated the US four years ago.

John Brooks  magic thereafter   four minutes later, 20-year-old John Brooks rose to head in Graham Zusi’s corner kick from 8 yards -  first substitute to ever score for the U S  in 30 World Cup games over 84 years. The defender, an unexpected addition to the American teamsheet, was so overcome he fell to the field and was unable to move even after teammates climbed off the dog pile. John Brooks  scored  had made his national team debut only last August, and Brooks hadn’t scored in four appearances. “It was a grind, but it was a wonderful win at the end of the day,” coach Jurgen Klinsmann said. Media agencies

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APGDC wins bid for Kakinada to Srikakulam pipeline

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 16 Jun 2014

We express our hearty congratulations to all for APGDC (Andhra Pradesh Gas Distribution Corporation, a joint venture of GAIL Gas and APGIC) winning the bid for natural gas pipeline from Kakinada to Srikakulam in Andhra Pradesh.