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Many poverties
A contentious statement on Indian poverty, put out some years ago by Arjun Sengupta, said that 78 per cent of Indians lived on less than Rs 20 a day. That figure always looked problematic, but has become a favourite statistical weapon in the hands of the Left. So it is just as well that the Suresh Tendulkar report on poverty has effectively nailed that number. The Tendulkar report says that 25.7 per cent of urban residents are below the new definition of the poverty line, because they spend less than Rs 578.80 per month. That is Rs 19/day, close to the Sengupta benchmark. Given the urban-rural mix of 28:72, if the Sengupta claim of 78 per cent for the country as a whole (urban and rural) is correct, then 92 per cent of all rural residents would have to be consuming less than Rs 20/day.

Singur land not 'formally' sought: Industry minister
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.

News of the day

DoT relents; to seek Trai views on uniform licence fee
After initial resistance, the Department of Telecom (DoT) has relented and would now seek telecom regulator Telecom Regulatory Authority of India"s (Trai) recommendations on a proposal to bring in a uniform licence fee.
Business Opportunities

Godrej Consumer Products net jumps 167% at Rs 93 cr

Godrej Consumer Products Ltd, the manufacturer and supplier of consumer durables, posted 167 per cent rise in consolidated net profit at Rs 93 crore for the quarter ending September 30, 2009 as compared to Rs 34.73 crore in the corresponding period last year. - Market wipes out gains of 5 weeks in 9 sessions - LG Electronics Q3 global sales soar to $11.2 bn - High Court approves merger of two units with Godrej Consumer - LG to invest Rs 25 cr in home appliances category - Early Diwali cheer for consumer durables firms - Analysts" corner Total consolidated income of the company sharply increased by 64 per cent to Rs 589.47 crore from Rs 358.81 crore in the quarter under consideration. On standalone basis, the company’s net profit during the second quarter of the current financial year jumped 112% to Rs 68.54 crore from Rs 32.26 crore on a turnover of Rs 349.61 crore versus 272.14 crore.


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