Recently in Jaggampeta, in East Godavari District, Andhra Pradesh,India, A petrol Bunk owner mixed water to adulterate Petrol. (News from EENADU,District Edition)
It is called height of Innocence or Height of Adulteration?
why our Government is talking about Globalization? de regulating the Petrol prices etc.. etcc.. blahaa , Blahhaaaaa!!
This government does not have the proper mechanism , and proper intention to handle the Petrol Adulteration. The existing mechanism failed in monitoring & controlling the Adulteration.
the government is taking about the global linked pricing system, but quality is village level.
Both should match. or else this government will have to pay a lot in future.
please share your views. G.VENKAT RAO
email: venkatrao.zeevi@gmail.com
Thursday, January 20, 2011
Tuesday, January 18, 2011
» China becomes a lender to the world
What is the optimum level of forex reserves that a country should have? We believe that the reserves should be able to provide sufficient cushion for paying import bills and also to service external debt comfortably. Many experts believe that China crossed these landmarks long time back. But still, the accumulation of reserves has not slowed down one bit. In fact, if anything, it has only increased. And these reserves, rather than being a source of pride are beginning to look like embarrassment. For should the value of dollar erode substantially, China's reserves too would take a massive hit. Little wonder, the dragon nation has stepped up its efforts to utilise its huge reserves and it has zeroed in on lending to other countries as one such option.
FT reports that China has actually ended up lending more money to other developing countries than the World Bank over the past two years. It is estimated that while the dragon nation loaned out US$ 110 bn in 2009 and 2010, World Bank could manage to lend about US$ 10 bn less during roughly the same period. We believe that while the move is indeed a smart one, all bets would be off should the dollar start losing value rapidly.
FT reports that China has actually ended up lending more money to other developing countries than the World Bank over the past two years. It is estimated that while the dragon nation loaned out US$ 110 bn in 2009 and 2010, World Bank could manage to lend about US$ 10 bn less during roughly the same period. We believe that while the move is indeed a smart one, all bets would be off should the dollar start losing value rapidly.
» TCS grabs the crown from Infosys
Infosys, so far, has always set the trend when it came to the performance of the IT sector during any quarter. But it has not been the case this time around. Infosys' performance for 3QFY11 was quite tepid as sales and profits grew by a mere 2.3% QoQ and 2.5% QoQ respectively. Just when one thought that the rest of the IT sector is set to report lukewarm numbers as well, TCS came out with robust set of results. TCS witnessed a healthy 13% QoQ and 14% QoQ growth in sales and profits respectively. This was led by double digit growth in volumes and a growth in demand from all geographies. What is more, based on the discussions with its clients, TCS is upbeat about the demand environment going forward too. On the other hand, the Infosys management has remained more cautious with respect to billing rates and the demand recovery in the US and Europe. Of course, Infosys traditionally has always chosen to maintain a cautious stance as far as the outlook is concerned. And so, its growth should probably pick up in the coming quarters. But for the time being, the 'IT crown' certainly belongs to TCS.
Will US Fed need a bailout?
Through the global crisis, banks have been going bust left, right and centre. Some have been allowed to fail while some of the luckier ones were bailed out. But the underlying reason for all of them was the same - liabilities were higher than assets.
Imagine if this were to happen to the world's most powerful central bank. Yes. We are talking about the US Fed. The bank's liabilities have been going up thanks to the rounds of quantitative easing that it undertook. But at the same time, asset creation has lagged behind. The central bank has been using most of its money in buying the treasury bonds. If and when inflation starts to kick in, the value of these bonds would start to take a hit. As a result, experts have started to question - will the US Fed need a bailout in times to come?
As per its Chief, Mr. Bernanke, this is impossible. In case such a situation should arise, then the bank would just not put its profits back into the treasury as it normally does. The theoretical way out is to sell bonds and suck up the excess liquidity. But this would impact the country's growth rates. Another way to avoid this from happening is to just open up the money printing press and shower notes from the helicopter. We are all aware that Mr. Bernanke is only too happy to resort to the latter method.
Imagine if this were to happen to the world's most powerful central bank. Yes. We are talking about the US Fed. The bank's liabilities have been going up thanks to the rounds of quantitative easing that it undertook. But at the same time, asset creation has lagged behind. The central bank has been using most of its money in buying the treasury bonds. If and when inflation starts to kick in, the value of these bonds would start to take a hit. As a result, experts have started to question - will the US Fed need a bailout in times to come?
As per its Chief, Mr. Bernanke, this is impossible. In case such a situation should arise, then the bank would just not put its profits back into the treasury as it normally does. The theoretical way out is to sell bonds and suck up the excess liquidity. But this would impact the country's growth rates. Another way to avoid this from happening is to just open up the money printing press and shower notes from the helicopter. We are all aware that Mr. Bernanke is only too happy to resort to the latter method.
Tuesday, January 4, 2011
How rich is the Shirdi temple? Very
Press Trust of India, Updated: January 04, 2011 17:05 IST (Via NDTV)
The famous pilgrim centre of Shri Saibaba temple in Shirdi, one of the richest temples in Maharashtra, has ornaments and jewellery worth over Rs. 32 crore and investments running into Rs. 427 crore, according to official documents.
The administration of Shri Saibaba Sansthan Trust (Shirdi), governed by the Managing Committee which was constituted by the Maharashtra Government way back on August 23, 2004 has Kisan Vikas Patras worth more than Rs. 51.71 crore besides Government of India eight-percent Saving Bonds amounting to Rs. 48.15 crore and Rs. 8 crore in non-redeemable bonds of Maharashtra Jeevan Pradhikaran, and Rs. 3.19 crore in various nationalised banks.
It has Rs. 47.82 crore as Trust Corpus Fund.
The temple trust has ornaments and jewellery including Gold worth Rs. 24,41,10,640 crore, Silver--Rs. 3.26 crore; Silver coins-- Rs. 61.2 lakh; Gold Coins--Rs. 1.28 crore and Gold pendants worth Rs. 1.12 crore, the Trust Auditor Sharad S Gaikwad said in its annuul audit for 2009-10 as the annual report was tabled in the State Legislature during its winter session in December 2010 here.
The total worth of the ornaments and jewellery stands at over Rs. 32.23 crore.
The temple has earned a surplus income of Rs. 94.67 crore in year 2009-10 as against Rs. 87.22 crore in year 2008-09.
The total income during the year 2009-10 was Rs. 164.88 crore by way of rent, interest on savings bank accounts, investments and donations against over Rs. 151.51 crore in previous year. The immovable property and buildings are worth Rs. 7.92 crore including the Statue of Saibaba worth Rs. eight lakh, the annual report stated.
The famous pilgrim centre of Shri Saibaba temple in Shirdi, one of the richest temples in Maharashtra, has ornaments and jewellery worth over Rs. 32 crore and investments running into Rs. 427 crore, according to official documents.
The administration of Shri Saibaba Sansthan Trust (Shirdi), governed by the Managing Committee which was constituted by the Maharashtra Government way back on August 23, 2004 has Kisan Vikas Patras worth more than Rs. 51.71 crore besides Government of India eight-percent Saving Bonds amounting to Rs. 48.15 crore and Rs. 8 crore in non-redeemable bonds of Maharashtra Jeevan Pradhikaran, and Rs. 3.19 crore in various nationalised banks.
It has Rs. 47.82 crore as Trust Corpus Fund.
The temple trust has ornaments and jewellery including Gold worth Rs. 24,41,10,640 crore, Silver--Rs. 3.26 crore; Silver coins-- Rs. 61.2 lakh; Gold Coins--Rs. 1.28 crore and Gold pendants worth Rs. 1.12 crore, the Trust Auditor Sharad S Gaikwad said in its annuul audit for 2009-10 as the annual report was tabled in the State Legislature during its winter session in December 2010 here.
The total worth of the ornaments and jewellery stands at over Rs. 32.23 crore.
The temple has earned a surplus income of Rs. 94.67 crore in year 2009-10 as against Rs. 87.22 crore in year 2008-09.
The total income during the year 2009-10 was Rs. 164.88 crore by way of rent, interest on savings bank accounts, investments and donations against over Rs. 151.51 crore in previous year. The immovable property and buildings are worth Rs. 7.92 crore including the Statue of Saibaba worth Rs. eight lakh, the annual report stated.
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