PM rejects Opposition demand for removing `tainted' ministers

         New Delhi: Prime Minister Manmohan Singh has categorically rejected the Opposition's demand of removing the `tainted' ministers from his cabinet. "This is not the first time that ministers who have been charged have held on to their portfolios. I think the previous government itself had several (of them). Now making a difference between chargesheeted for one person and others.... I don't think it is a very tenable distinction," Singh said here Wednesday while speaking to reporters after the presentation of Padma awards. Singh further said, "well, I think, there are compulsions of coalition politics. People of India have given a verdict. You cannot deprive large sections of people they represented." Regarding the disruption of the Lok Sabha's first session during his government, Singh hoped that better sense will prevail with the Opposition and that it will cooperate with the government in orderly conduct of business of the Parliament.

Economic growth at 8.2 per cent in 2003-04 (Go To Top)

          New Delhi: Driven by 7.3 per cent growth in the manufacturing sector and over nine per cent in agriculture, economic growth more than doubled at 8.2 per cent in 2003-04 compared to four per cent in the previous year. Barring mining, construction and financial services, all other sectors recorded a higher growth with hotel and transport sectors clocking a double digit growth of 11.2 per cent in 2003-04 from seven per cent in 2002-03.

Decision on hike in PF interest rate put off  (Go To Top)

          New Delhi: A decision to hike the interest rate of the employees providend fund (EPF) has been deferred till July 13 by the Board of Trustees which met in the acapital on Wednesday. A statement from the Labour minister's office on Tuesday said Sis Ram Ola supported a demand by majority of trade unions for an increase in interest rate to over 35 million EPF subscribers. The fund paid a 9.0 percent interest rate for the financial year ending March 2004, with an additional 50 basis points as a one time golden jubilee bonus. "A consensus will be formed for the rate of interest for the Employee Provident Fund accounts for the year 2004-2005. We will forward our recommendations to the finance ministry soon so that a final ordinance can be issued after that," Ola said after meeting labour union representatives in New Delhi ahead of the EPF board meeting.

         The previous Bharatiya Janata Party government had progressively cut the EPF's rate from 12 percent to its current level to bring it in line with the overall decline in interest rates. Left wing political parties, which are closely linked with most of the labour unions, have demanded that the government hike interest rate on the pension fund. The communists give vital support to the Congress-led coalition that took office last month. The trustees panel, which includes labour union members, decided to offer a 9.5 percent interest rate for the year ending March 2004 on the pension fund including a bonus of 50 basis points by dipping into its reserves. Finance Ministry officials say even at nine percent, EPF subscribers get a return of more than 12 percent because the scheme is tax-exempt. The government introduced a higher nine percent pension scheme for the elderly in July last year to insulate their earnings from falling interest rates and delink them from other small savings schemes run by the government.

Cow slaughter banned in Jharkhand (Go To Top)

          Ranchi: Cow slaughter has been banned in Jharkhand. The decision was announced by the ruling coalition led by Bharatiya Janata Party which met in state capital Ranchi and decided to bring an ordinance soon to the effect. "We have decided to take an important step to ban the cow slaughter in the state. There have been many reports of cow slaughter. So the state government decided to impose a ban on the cow slaughter to stop any incidents of killing of cows," Arjun Munda, Jharkhand chief minister, told newsmen. Cow slaughter is banned in most states, except Kerala, West Bengal and the seven states of the northeast. The northeast is dominated by Christians and non-Hindu tribes people and beef -- much cheaper there than mutton or chicken -- is a vital source of protein.

Amrita Pritam conferred Padma Vibhushan (Go To Top)

         New Delhi: Renowned author Amrita Pritam, eminent scientist Jayant Narlikar, and former Supreme Court Chief Justice M.N. Venkatachaliah were on Wednesday conferred this year's Padma Vibhushan awards, second highest civilian honour. The awards were presented by President A.P.J. Abdul Kalam at an investiture ceremony held in Rashtrapati Bhawan. Prime Minister Manmohan Singh and other cabinet ministers were present on the occasion. In all, President Kalam honoured 96 eminent personalities with civilian awards. These include some from overseas as well, whose achievements in various fields have been recognised by the nation. Actor Soumitra Chatterjee, filmmaker Gulzar, writer M V Kamath, noted Urdu author Gopi Chand Narang, and musicians Madurai T N Seshagopalan and Dr N Rajam, along with dancer Alarmel Valli were among the the third highest Padma Bhushan recipients. Recipients of the next category Padma Shri awards included actor Anupam Kher, santoor player Bhajan Sopori, musician Hariharan, long jumper Anju George and cricketer Rahul Dravid. These awards are in recognition of distinguished service of a high order to the nation, in any field, including services rendered by government servants.