India’s growth opportunity in defence

India’s growth opportunity in defence

Defence could be the next boom after the IT (information technology) and automotive sectors, hopes Wg Cdr Neelu Khatri (Retd), Manager, Defence Advisory Services, KPMG, New Delhi. “The total defence spending from 2010-2016 would be to the tune of $280 billion. Based on last five years’ average revenue, capital expenditure on major acquisition would translate into about $115 billion,” she mentions, during a recent telephonic interaction with Business Line.

BJP discards ‘untouchability’ agenda, switches to Dalit issues

BJP discards ‘untouchability’ agenda, switches to Dalit issues

INDORE, Feb 17 : Untouchability was part of the Bharatiya Janata Party’s (BJP) “political commitment”, new president Nitin Gadkari said Wednesday, indicating a significant shift in strategy for the party by bringing in issues of Dalit welfare.

Including Dalit issues in the party’s agenda, Gadkari said in the inaugural session of the BJP’s national executive meeting: “The issue of untouchability is a part of our political commitment.”

Several party leaders who attended the session were of the view that this was an indication that the BJP was no longer content to be tagged as a party of middle class urban voters. “We need to expand our base. Dalits are an important constituency and a neglected one too. No national party has taken up their cause in big way on sustained basis. We are going to do that in days to come,” a senior BJP leader who attended the inaugural session told IANS.

'1st pair of 700 MW nuke plants to be ready by 2016'

STAFF WRITER 14:13 HRS IST

Mumbai, Feb 18 (PTI) India's first set of indigenous 700 MW Pressurised Heavy Water Reactors, would be a reality in the next six years, as the excavation work at Kakrapar in Gujarat has already begun, S K Jain, Chairman and Managing Director of NPCIL said.

The Centre had last October given a financial sanction of Rs 24,000 crore for four units of 700 MW of PHWRs, two each at Kakrapar and Rawatbhata in Rajashtan, he said.

"We will begin the first 'pour of concrete' next month in Kakrapar and in Rajasthan power project site for reactor raft and wish to finish the construction of the plants within five years from that day," Jain said at the 22nd annual Heavy Water Day here yesterday.

"Since the Centre has given financial sanction for these four, we will be completing the procurement order of all components by September this year," he said.

Bengal CM admits lapse in alertness of forces

Kolkata, Feb 18 (PTI) West Bengal Chief Minister Buddhadeb Bhattacharjee today admitted that there was definite lack of alertness on the part of the forces leading to the massacre of 24 jawans by Maoists in West Midnapore district.

"There was breach in preparedness and lack of alertness," he said at the state headquarters here while announcing that an enquiry has been ordered to find out how the Maoists could carry out such an audacious attack on the Silda camp housing the Eastern Frontier Rifle (EFR) jawans on February 15.

"I decided to order an enquiry. We want to know the whole truth" including possible intelligence failure, Bhattacharjee, who holds the home (police) portfolio, said.

Terming the attack as heinous, the chief minister said "It was carried out by Maoist squads not only from our state but also from neighbouring states.

RIL, inflation pull down markets, Sensex down 101 pts

STAFF WRITER 17:38 HRS IST

Mumbai, Feb 18 (PTI) Weighed down by the market leader Reliance, the BSE benchmark Sensex snapped its two-day rally to close 101 points down amid rising food inflation.

Rising for the fourth consecutive week, food inflation inched up to 17.97 per cent for the week ended February 6, making markets nervous that the apex bank would have to push up interest rates sooner than later. This comes in the wake of the wholesale price inflation for January hitting a 14-month high of 8.56 per cent.

After opening lower on weak global cues, the 30-issue BSE barometer went down further to end the day 101.07 points lower or 0.62 per cent to 16,327.84. The 50-issue Nifty of the NSE, too, shed 26.25 points or 0.53 per cent to close below the psychological 4,900-mark yet again at 4,887.75.

Topping the jittery mood was a large-scale selling in the interest-senitive realty stocks, battering the index 2.

Food inflation rises to 17.97 pc for the week ended

STAFF WRITER 12:30 HRS IST

New Delhi, Feb 18 (PTI) Food inflation rose marginally to 17.97 per cent for the week ended February 6 on account of rising prices of potatoes and onions.

The wholesale price-based food inflation rose for the fourth consecutive week. In the previous week it stood at 17.94 per cent.

Potato prices were up 57.67 per cent from last year's level, while onions were dearer by 29.92 per cent.

The inflation for primary articles, which include food and non-food items in raw form, increased to 16.23 per cent during the week from 15.75 per cent a week earlier.

The price index for food articles, on weekly basis, moved up 0.1 per cent on account of higher rates of moong and poultry chicken (3 per cent each), while rates of fish marine rose by 2 per cent and barley and wheat became dearer by one per cent each.