Obama's India visit: The Pak, China factor

New Delhi: As he touches down in India for the longest overseas visit of his Presidency, on top of Barack Obama's agenda will be a frank exchange of views on Af-Pak and the rise of China.

American officials say Washington sees a bigger role for India in the region, especially with US unease over China's growing assertiveness.

But will a stronger India-US relationship impact an already strained India-China relationship?

"I don't see our relationship with the US affecting relations with China and vice versa. It is no longer a binary world or a zero sum game," said National Security Advisor Shiv Shankar Menon.

There is a great degree of concern in India over Obama's Pakistan policy as well. The Obama administration depends deeply on the Pakistani army in an increasingly difficult war on terror. Fresh military aid worth two billion dollars has just been announced. Even Indian officials concede there is only so far America will go on terror.

"He just finished a strategic dialogue with Pakistan. He has given them more aid and the message is clear: the Americans will maintain a balance between India and Pakistan," said Kanwal Sibal, a former foreign secretary.

It will certainly be a tightrope walk for Obama in India as he tackles New Delhi's unease over his Af-Pak policy and US concerns over China.



For NDTV

Polling begins in 4th phase of assembly elections in Bihar

PATNA: Polling began on Monday morning in 42 assembly constituencies in the fourth phase of elections in Bihar amidst strict security.

Around 10.04 crore voters will be eligible to exercise their franchise to decide the fate of 568 candidates, including 58 women.

Voting is being held in Alauli (SC), Suryagarha, Tarapur, Jamalpur, Katoria (SC), Belhar, Sinkandra (SC), Jamui, Jhajha and Chakair declared 'Maoist-hit' between 7 am and 3 pm.

Prominent contestants include BJP stalwarts and ministers Ashwini Kumar Choubey (Bhagalpur), Nand Kishore Yadav (Patna Sahib) Ramnarayan Mandal (Banka), besides JD(U) minister Damodar Raut.

Senior IAS officer Afzal Amanullah's wife Parveen Amanullah is contesting on a JD(U) ticket from Sahebpur Kamal.

LJP president Ramvilas Paswan's brother and state party president Pashupati Kumar Paras is contesting from Alauli.

Deputy Speaker of state Assembly and RJD nominee Shakuni Choudhary is contesting from Tarapur.

While JD(U) is contesting from 25 seats, ally BJP is contesting in the remaining 17.

RJD has fielded candidates in 26 and ally LJP in 16. The Congress is contesting from all 42 constituencies while the BSP is in the fray from 40 seats.

The CPI-ML (L) is contesting 15 seats, CPI (13) and CPI-M (six).

"We have made multi-tier security arrangements for holding free, peaceful and fair polls," Director General of Police Neelmani said.

Borders with Jharkhand and Uttar Pradesh have been sealed and close ground and air surveillance being kept, Neelmani said.

Special Task Force (STF) commandos and senior police officials would maintain air surveillance while patrols would be intensified, he said.

The 42 constituencies are spread over eight districts. Byelection in the Banka Lok Sabha seat is also being held simultaneously with the fourth phase of assembly elections.

The two contenders for the seat are Putul Singh (Ind), widow of former union minister Digvijay Singh and former union minister Jayprakash Narain Yadav of RJD.

Both the NDA and the Congress were supporting the candidature of the independent.

The bypoll was necessitated by the death of Digvijay Singh three months ago.

Read more: Polling begins in 4th phase of assembly elections in Bihar - The Times of India http://timesofindia.indiatimes.com/india/Polling-begins-in-4th-phase-of-assembly-elections-in-Bihar/articleshow/6850355.cms#ixzz1402LkRoP

Sensex snaps three-day fall; ends 91 points up at over 20k

MUMBAI: Snapping a three-day falling streak, the Bombay Stock Exchange benchmark Sensex today gained over 91 points as funds purchased heavy-weight stocks, led by ICICI Bank on its higher earnings, and RBI's move to help increase money supply in the financial system.

The Sensex, after losing 362 points in last three days, remained lower through out the session but rebound in last 30-minute trade to close with a gain of 91.30 points to reach 20,032.34.

The benchmark shuttled between 20,080.33 and 19,768.96 during the day.

The broad-based National Stock Exchange index Nifty also rose by 30 points to 6,017.70, after moving between 6,032.65 and 5,937.10 points.

The fag-end buying picked up after the Reserve Bank of India announced special measures to increase money supply in the financial system, raising hopes of greater liquidity in the equity markets.

Buying was confined largely to the banking sector after the biggest private lender ICICI Bank soared to the highest level since February 2008 as its second-quarter consolidated profit rose 22 per cent.

The stocks of ITC Ltd, the biggest consumer goods maker and index-related, advanced the most in a week after its quarterly profit rose 23 per cent.

Higher earnings by leading companies boosted the market sentiment which encouraged the global funds net buyers in Indian equities for a 41st day on Oct. 27, the longest streak on record.

In the 30-BSE index components, nine gained and 20 decline, while ACC remained unchanged.

The heaviest-weight Reliance Industries rose by Rs 12.75 to Rs 1,095.80; ICICI Bank by Rs 71.35 to Rs 1,161.65, and ITC ltd by Rs 3.90 to Rs 171.15. The three carry nearly 27 per cent weightage on the benchmark.

The banking sector index gained the most by adding 1.52 per cent to 14,016.21 followed by FMCG index by 1.30 per cent to 3,605.10. The oil and gas index also rose by 0.69 per cent to 10,948.82.

Read more: Sensex snaps three-day fall; ends 91 points up at over 20k - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-snaps-three-day-fall-ends-91-points-up-at-over-20k/articleshow/6833166.cms#ixzz13kQq0tfE

FinMin hopeful of getting DTC bill passed next fiscal

STAFF WRITER 13:41 HRS IST

New Delhi, Oct 29 (PTI) The Finance Ministry today said it is hopeful of getting the Direct Taxes Code (DTC) bill approved by Parliament in the next fiscal to enable its implementation from April 1, 2012.

"The draft DTC is with the Parliamentary Standing Committee. It is likely that by February-March, we should receive their comment and by the middle of next year in the monsoon session, it should be voted and made law," Revenue Secretary Sunil Mitra told reporters on the sidelines of a FICCI conference here.

In August, the government decided to delay the implementation of DTC by a year to April 1, 2012.

The DTC, which seeks to replace the Income Tax Act 1961 and simplify direct tax laws, was originally proposed to be implemented from April 1, 2011.