2100 HRS.

9th January, 2013

THE HEADLINES:

• India strongly condemns Pak attack on Indian soldiers at Line of Control in Jammu and Kashmir.

• Railways announce hike in passenger fares effective from 21st of this month.

• Supreme Court dismisses Sahara Group's plea on refunding over 17,400 crore rupees to investors.

• President confers the prestigious Pravasi Bharatiya Samman Award to Mauritian President among others.

• Saina Nehwal and 2 other Indian shuttlers advance to the pre-quarterfinals of Korea Open Super Series.

[]<><><>[]

Outraged by the brutal killing of two of its soldiers by intruding Pakistani troops, India today strongly protested to Pakistan, warning that the unacceptable incident will have adverse impact on bilateral ties. As strong reactions by the government and political parties came, Pakistan High Commissioner Salman Bashir was summoned by Foreign Secretary Ranjan Mathai, who conveyed India's deepest concern and protest over yesterday's attack in which two Indian soldiers were killed. Pakistan was also asked to immediately investigate these actions that are in contravention of all norms of international conduct and ensure that these do not recur.

External Affairs Minister Salman Khurshid said the Pakistan envoy was spoken to in very strong terms and the deepest concern and protest over the incident was conveyed.

It is more than clear now at this time as to who is responsible of violation and who is responsible of an act which is inhuman and can not possibly be accepted.

Referring to last month's Indo-Pak discussions on Confidence Building Measures, wherein maintaining the sanctity of the LoC, was emphasised, Mr Khurshid said violation of ceasefire is a matter of great concern. He added if it is not immediately contained, it will have adverse impact on the bilateral relations.

We have to be careful that forces that are attempting to derail all the goodwork that has been done towards normalization should not be successful.

India's Director General of Military Operations Lt Gen Vinod Bhatia spoke to his Pakistani counterpart Maj Gen Ashfaq Nadeem to complain about the attack.

Reacting sharply to the incident, Defence Minister A K Antony said Pakistan Army's action is highly provocative.

[]<><><>[]

The Congress today reacted with anger and outrage over the incident. Party leader and Information and Broadcasting Minister Manish Tewari called for drawing of red lines while dealing with Pakistan. He said that Pakistan must respect rules of engagement and the ceasefire agreement.

BJP has termed the incident as inhuman and barbaric. Talking to reporters in New Delhi today, party spokesperson, Ravishankar Prasad said that it is a move to promote infiltration in the state. He also said that in the past few years, the number of ceasefire violations have increased.

CPI said the provocative action by Pakistan was totally unacceptable and condemnable.

Pakistan has denied involvement of its troops in the attack in which two Indian soldiers were killed.

[]<><><>[]

Now passengers will have to pay more while travelling in trains as the Railways today announced an across the board hike in fares with effect from the 21st of this month. Making the announcement in New Delhi, Railway Minister Pawan Kumar Bansal said the Second Class ordinary suburban fares have been raised by 2 paise per kilometer and Second Class ordinary non-suburban services by 3 paise per Kilometer. Second class Mail and Express train fares have been increased by 4 paise per kilometer and Sleeper class by 6 paise per Km. Mr. Bansal said the hike in AC Chair Car and AC three Tier, will go up by 10 paise per kilometer. Three paise per kilometer additional increase has been made in First Class, six paise in AC-2 Tier and 10 paise additional hike in AC First Class apart from the existing hike of 10 paise, 15 paise and 30 paise per kilometer in these classes.

Mr. Bansal said that additional 6,600 crore rupees revenue will be generated per year out of which 1000 crore will be fetched by AC Classes. He said the fare hike announced after a decade had become imperative to bring down losses.

There has been no revision in the basic fares for the last over 10 year. This has had very telling effect on the finances of the railways and the losses in the passenger segment which are thousand 159 crore in the year 2004-5 raised to 19,964 crore in 2010-11 and is likely to increase to 25,000 crore rupees in the year 2012-13.

Mr. Bansal also said, there will be no fresh passenger fare hike in the forthcoming rail budget.

[]<><><>[]

Congress spokesperson Rashid Alvi said the rail fare hike was inevitable. Talking to All India Radio, he said the consideration for a hike in railway fares was going on for a long time and it is in the interest of the country.

It was inevitable to raise the fare of the railways. It was in the interest of the country, it was in the interest of Railways that is the reason, government has taken this step.

The BJP opposed the fare hike demanding an immediate roll back. Talking to AIR party spokesperson Rajiv Pratap Rudy said, the hike was undemocratic.

The Parliamentary procedure demand that when the budget has to be presented within a month, the government is trying to hoodwink the nation by imposing the hike in the railways. It is a betrayal of a common man and unacceptable to the BJP.

Left parties also criticised the government's decision to hike rail fares, calling it unjustified and demanded a rollback in fares for non-AC travel. CPI National Secretary D Raja said the hike would have a cascading effect on the people who were already burdened with price rise.

[]<><><>[]

The Supreme Court has dismissed Sahara group's plea seeking review of its August 31 verdict to refund over 17,400 crore rupees collected from 2.21 crore depositors. In its order, the apex Court said that after examining all the records, it was dismissing, applications seeking permission for open court listing, intervention and directions or stay.

The two Sahara group firms - Sahara India Real Estate Corporation Ltd and Sahara Housing Investment Corporation Ltd - are to refund the amount with 15 per cent interest to its investors. In an order on 5th of December, a bench headed by Chief Justice Altamas Kabir, had directed the two Sahara group firms to make immediate payment of 5,120 crore rupees and the balance in two instalments.

The bench had also directed the group to supply the documents relating to investors within 15 days.It warned that failure to fulfill its directive on payment of the money to SEBI will lead to attachment of assets.

[]<><><>[]

President Pranab Mukherjee today conferred the prestigious Pravasi Bharatiya Awards to the President of Mauritius Rajkeshwur Purryag and other persons at the concluding function of three day Pravasi Bharatiya conclave at Kochi. Speaking on the occasion Mr. Mukherjee called upon Indian Diaspora to play a decisive role in the county's journey to become a strong, just and equitable society and in taking its rightful place in comity of nations. Delivering the valedictory address at the Pravasi Bharatiya Divas In Kochi this evening he urged Overseas Indians to help in building a knowledge society, while continuing to engage culturally and emotionally.

Noting that the revival of investment rate in the country is a must for the economy to regain its eight per cent plus growth levels the President urged the assembled Diaspora to help in the process by investing in Indian companies and by establishing new ventures.

You all could help in the process of investing in Indian companies and establishing new ventures. The yield of Indian equity market is amongst highest in the world and many of the most famous companies have established business here for seeking to do so.

[]<><><>[]

India and Kazakhstan today signed the Inter-Governmental Protocol to enhance cooperation in energy sector. The Protocol was signed in New Delhi after the 10th meeting of the India-Kazakhstan Inter-Governmental Commission on Trade, Economic, Scientific, Technological, Industrial and Cultural cooperation. Petroleum Minister Veerappa Moily led the Indian delegation at the two-day talks while the Kazakhstan side was headed by Bulat Akchulakov, Vice Minister of the country's Oil and Gas. Mr Moily called for setting up Joint Venture projects in Kazakhstan for manufacturing finished products from their minerals and raw material which could be exported to India.

[]<><><>[]

Prime Minister Dr. Manmohan Singh launched the National Electric Mobility Mission Plan 2020 in New Delhi today. Speaking on the occasion, Dr. Singh termed the mission as a very important milestone in our country’s efforts for a cleaner and greener transport system for the future. Urging for reducing the transport sector’s dependence on oil, Dr. Singh said, this can be achieved by faster adoption of the full range of electric vehicle technologies, including hybrid vehicles.

These technologies are not only more efficient, but are also cleaner. They have the potential of contributing substantially to our efforts of mitigating the adverse impact of economic development on the environment.

Pointing out that over 80 percent of India’s requirements of petroleum products is being imported, Dr Singh said, high international prices of oil contribute significantly to high import bills, trade deficit and inflation, putting a big strain on our economy.

[]<><><>[]

The Andhra Pradesh High Court today took up for hearing, a petition by Majlis Ittehadul Muslimeen Legislator Akbaruddin Owaisi seeking to quash all cases registered against him in connection with his alleged inflammatory speech. In his petition Akbaruddin has also sought to prevent new cases on the issue. Justice Narsimha Reddy issued notices to the state government to file an affidavit on the issue.

In a related development, a local court at Nirmal in Adilabad district rejected a petition filed by the legislator seeking transfer of his case to Hyderabad to enable him to get better medical facilities. Akbaruddin was arrested yesterday in Hyderabad and later shifted to Nirmal in connection with his alleged provocative speech delivered at the small town last month. He is presently in Adilabad Jail on a 14 day judicial remand.

[]<><><>[]

In Assam, three children were killed and several others injured in an explosion near a primary school in Tinsukia district today. State Home Secretary said while one child died on the spot, two others succumbed to injuries in the hospital. Police said the cause of the explosion, which took place at Kharjan pool area of Digboi town in the evening, is yet to be ascertained. Army and police personnel have rushed to the spot and the area has been cordoned off.

[]<><><>[]

In West Bengal, nine persons have reportedly died in Malda in North Dinajpur district today due to biting cold. The state is reeling under intense coldwave. The met department has issued coldwave warning for the next 24 hrs.

[]<><><>[]

BUSINESS WORLD

The Sensex at the Bombay Stock Exchange declined 76 points, or 0.4 per cent, to close at a one-week low of 19,667, today, on investor caution ahead of industrial output data and third-quarter corporate results. The Nifty fell 30 points, to 5,972.But stock markets in Japan, Hong Kong, and Singapore gained about 0.5 percent, each.The rupee appreciated 23 paise, to 54.75 against the dollar.Gold declined 30 rupees, to 31,040 rupees per ten grams in Delhi. But silver rose 100 rupees, to 58,100 rupees per kilo. And Brent crude oil futures stood below 112 dollars a barrel, while US crude fell 19 cents, to 92.96 dollars a barrel.Pradeep Kumar, AIR News

[]<><><>[]

London Olympics bronze-medallist Saina Nehwal and 2 other Indian shuttlers today advanced into the pre-quarterfinals of the season-opening Korea Open Super Series Badminton tournament at Seoul. Third seed, Saina, conceded the first game, but got her act together in time, as she notched up a 17-21, 21-9, 21-19 win over Sapsiree Taerattanachai of Thailand in the Women's Singles opening round.

Rising shuttler PV Sindhu also reached the pre-quarterfinals, after defeating Lindaweni Fanetri of Indoesia, 22-20, 21-16.

In the Men's Singles, London Olympic quarterfinalist, P. Kashyap disposed off Briton Rajiv Ouseph 21-19, 21-16 to make it to the pre-quarters.