BAMCEF UNIFICATION CONFERENCE 7

Published on 10 Mar 2013 ALL INDIA BAMCEF UNIFICATION CONFERENCE HELD AT Dr.B. R. AMBEDKAR BHAVAN,DADAR,MUMBAI ON 2ND AND 3RD MARCH 2013. Mr.PALASH BISWAS (JOURNALIST -KOLKATA) DELIVERING HER SPEECH. http://www.youtube.com/watch?v=oLL-n6MrcoM http://youtu.be/oLL-n6MrcoM

Friday, October 25, 2013

सुनो भाई साधो आपकी भैंस गयी पानी में पीएफ गया बाजार बीमा पहले ही जा चुका अब वेतन भत्ता भी कब जाये बाजार,इंतजार करें बॉन्ड और इन्फ्रास्ट्रक्चर में होगा पीएफ फंड का निवेश! Sebi, government may change mutual fund policy to route PF money into markets Govt eyes $15 billion rollover of subsidy costs into next budget

सुनो भाई साधो

आपकी भैंस गयी पानी में

पीएफ गया बाजार

बीमा पहले ही जा चुका

अब वेतन भत्ता भी कब

जाये बाजार,इंतजार करें

बॉन्ड और इन्फ्रास्ट्रक्चर में होगा पीएफ फंड का निवेश!


Sebi, government may change mutual fund policy to route PF money into markets


Govt eyes $15 billion rollover of subsidy costs into next budget


पलाश विश्वास

बॉन्ड और इन्फ्रास्ट्रक्चर

में होगा पीएफ फंड का निवेश!


देश बेचो महा चैंपियन पी चिदंबरम स्पेक्ट्रम के वित्त मंत्रालय ने अजीबोगरीब वित्तीय करिश्मे से विदेशी कर्ज और भुगतान संतुलन संकट, वित्तीय घाटा के समाधान का उपाय निकाल लिया है।


दावा है, वित्त मंत्रालय के कर्मचारी वध महोत्सव और श्रमकानून कब्रिस्तान से  सरकार की सारी आर्थिक दिक्कतें दूर हो सकती हैं।


इससे सरकार की विदेशी कर्ज की ब्याज दरें काफी कम हो सकती है,वह विदेशी कर्ज जो देशी औद्योगिक घरानों और इंडिया इंक को टैक्स छूट और स्टीमुलस देने के लिए सन 47 से बेहिसाब लिया जाता है और कभी उसका भुगतान नहीं किया जाता है। सिर्फ ब्याज चुकाया जाता है राजकोष से और हरसाल लाखों करोड़ रुपये ब्याज में चुकाया जाता है। भुगतान संतुलन की चाबी ही गुम हो जाती है।


काला धन पर अंकुश लगाया नहीं जा सकता और सारे कापोरेट कर्णधार सत्ता में हैं, आर्थिक सुधार के रथी महारथी हैं, लालू को जोल भेज दिया,उनकी सांसदी खत्म हो गयी, कहीं पत्ता भी नहीं खड़का। हर दुर्गोत्सव में मूलनिवासी बहुजन निनानब्वे फीसद ब्राह्ममी उत्सव में गैर ब्राह्मणों,आदिवासियों,दलितों और शूद्रों के नरसंहार का महोत्सव बिना जाने बूझे पवित्रतम आस्था के साथ संपन्न होते दखते हैं। लालू को महिषासुर बनाकर मारनेऔर भारतीय राजनीति से सामाजिक न्याय के एक पहेरुआ, देशी देहाती मुहावरों और हिंदी अस्मिता के झंडेवरदार ओबीसी ललुआ को महिषासुर बनाकर निपटाने से इस देश की बावन फीसद ओबीसी को कोई तकलीफ नहीं हुई। क्योंकि उनने चारा खाया और उनको सजा होनी ही चाहिए।


कोयला, टेलीकाम, तेल और एटम बम खाने के बाद आपकी हमारी जमा पूंजी, वेतन, भत्ता, पेंशन, ग्रेच्युटी,पेंशन सबकुछ हजम करके अर्थव्यवस्था के संकट का हल निकाल रहे हैं देश बेचो विशेषज्ञ चिदंबरम।


देश में कारपोरेट,बिल्डर,माफिया,प्रोमोटर राज है। डीएमआईसी मुंबई दिल्ली शैतानी महासत्यानाश गलियारा और अमृतसर कोलकाता महासत्यानाश गलियारे में ग्रामीण भारत के शव पर बीसियों महानगर और बीसियों महासेज सजाने का इंफ्रस्ट्राक्चर महाप्लान है पीपीपी माडल का। भूदान यज्ञ में क्षत्रपों में दान के लिए भारी मारामारी ह।


अब नकदी की किल्लत से जूझ रहे इन्फ्रास्ट्रक्चर यानी प्रोमोटर बिल्डर रियल्टी सेक्टर में दीर्घकालीन  निवेश और बचट के लिए आधा संघी आधा वामपंथी अर्धनारीश्वर चेट्टियार बनिया अर्थमंत्री ने हम सबको थोक भाव से बांस करने का यह महाप्लान बनाया है।


इस प्लान की कामयाबी पर शको सुबह की कोई गुंजाइस नहीं है। सत्ता बदल भी गयी तो कारपोरेट पसंद अगले प्रधानमंत्री के वित्तमंत्री फिर बन सकते हैं अमेरिकी कारपोरेट गुलाम।


बहरहाल पीएफ को बाजार में खपाने की इस सत्यानाशी योजना से कॉरपोरेट बॉन्ड मार्केट का दायरा बढ़ाने में मदद मिलेगी और भारतीय शेयर बाजार में निवेशकों  की अखंड आस्था हासिल की जा सकेगी। राष्ट्रनिर्माण और भारत उदय के लिए जारी रहेगा अबाध कालाधन आवारा  पूंजी प्रावाह।


श्रम विरोधी श्रम मंत्रालय ने दलाल यूनियनों की अखंड खामोशी के मध्य यह प्रस्ताव वित्त वित्त मत्रालय बाजार को फ्री फंड ज्यादा से ज्यादा पूंजी वसूलने की खुली छूट देने की गरज से  प्रोविडेंट फंड योगदान के लिए वैधानिक सैलरी सीमा 6,500 रुपए से बढ़ाकर 15,000 रुपए करना तय कर लिया है।


सौदा यह है कि श्रम मंत्रालय इसके बदले बॉन्ड और इन्फ्रास्ट्रक्चर प्रोजेक्ट में सालाना 90,000 रुपए का पीएफ खातों से  निवेश करेगा। मौजूदा नियमों के मुताबिक, इन सेगमेंट्स में मिनिस्ट्री निवेश नहीं करती है।



एंप्लॉयीज प्रोविडेंट फंड ऑर्गेनाइजेशन (ईपीएफओ) के फंड में फिलहाल 6.5 लाख करोड़ रुपए हैं। लाइफ इंश्योरेंस कॉरपोरेशन के बाद ईपीएफओ भारत का दूसरा सबसे बड़ा नॉन-बैंकिंग फाइनेंशियल इंस्टीट्यूशन है। पिछले महीने फाइनेंस मिनिस्ट्री ने कहा था कि विशेष तौर पर इन्फ्रास्ट्रक्चर सेक्टर गंभीर कैश संकट से जूझ रहा है और उसे पेंशन फंड जैसे लॉन्ग टर्म फंड की सख्त जरूरत है। लेबर मिनिस्ट्री के एक सीनियर अधिकारी ने बताया, 'सरकार का इस साल 4.48 करोड़ रुपए कर्ज जुटाने का इरादा है। राज्यों की तरफ से और 1.6 लाख का कर्ज लिए जाने की उम्मीज है। बैंकों, इंश्योरेंस फर्मों और पेंशन की तरफ से ऐसे सिक्योरिटीज की घरेलू डिमांड तकरीबन 6.2 लाख करोड़ रुपए है यानी कुल 24,000 करोड़ रुपए का गैप है।' अधिकारी के मुताबिक, अगर इस प्रस्ताव को मंजूरी मिल जाती है, तो सरकार काफी सस्ते में कर्ज जुटा सकती है।


दरअसल, सिर्फ ईपीएफओ ऐसे बॉन्ड्स में अतिरिक्त 50,000 करोड़ निवेश करने में सक्षम होगा। साथ ही, बाकी इनवेस्टर्स के उलट ईपीएफओ मैच्योरिटी तक इनवेस्टमेंट बनाए रखता है और ऐसे में डेट मार्केट में उतार-चढ़ाव कम होगा। एंप्लॉयीज की सैलरी का तकरीबन 24 फीसदी पीएफ कटता है और यह उनके ईपीएफ एकाउंट में जाता है। इनमें से तकरीबन एक तिहाई (सैलरी का 8.33 फीसदी) एंप्लॉयीज की पेंशन स्कीम में जाता है, जिसमें सरकार 1.16 फीसदी की सब्सिडी देती है।

इस प्रस्ताव को अब

अमल मे लाया जा रहा है

 इससे कॉरपोरेट डेट की

कॉस्ट कम हो सकेगी और

बॉन्ड मार्केट को भी फायदा मिलेगा

इस बात की संभावना से भी

इनकार नहीं कि देश के

सबसे बड़े रिटायरमेंट फंड को

भविष्य में शेयरों में निवेश के

ऑप्शन पर विचार करना पड़े

क्योंकि तेजी से बढ़ते

इस फंड को निवेश के लिए

ज्यादा से ज्यादा

ठिकाने की जरूरत होगी।

इस साल मई से अगस्त

के दौरान केंद्र सरकार की

बॉरोइंग कॉस्ट में 2 फीसदी

की बढ़ोतरी हुई

दरअसल, डॉलर के मुकाबले

रुपए में कमजोरी से

फॉरेन इनवेस्टर्स को

डेट मार्केट से हजारों करोड़ रुपए

निकालने पर मजबूर होना पड़ा।


सुनो भाई साधो

आपकी भैंस गयी पानी में

पीएफ गया बाजार

बीमा पहले ही जा चुका

अब वेतन भत्ता भी कब

जाये बाजार,इंतजार करें


सरकारी दावा है कि

ईपीएफ का पैसा निकालना

या ट्रांसफर करना

अब काफी आसान

ईपीएफओ कोशिश में है

ट्रांसफर या पैसा निकालने में

सिर्फ 3 दिन का वक्त लगे


जबकि हकीकत यह है

कि वित्तमंत्रालय के

फरमान से

चिदंबरम के

देश बेचो

अभियान के तहत

आपका पीएफ

सेबी के निर्देशन में

ईपीएफ डाल रहा है

शेयर बाजार में

आपके पीएफ खाते को

आनलाइन किया गया

शेयरों के उछलकूद के मुताबिक

कारपोरेट हित में

खपाने के लिए

आपका पीएफ का पैसा अब

कारपोरेट कंपनियों का

म्युचअल फंड है

ऐसा इंतजाम है

और इसके लिए

आधार योजना की तरह

कोई संसदीय अनुमोदन नहीं है


भैंस गयी पानी में

तो डंडा करके

निकाल भी सकते हैं आप

पीएफ का पैसा गया बाजार

तो किसको डंडा करोगे भइया

खुदै डंडा खा जाओगे भइया


आनलाइन होने के बाद भइया

हुआ यह हाल कि

अंग्रेजी अखबार द इकोनॉमिक टाइम्स

के मुताबिक लगभग ढाई करोड़

या 30 फीसदीप्रोविडेंट फंड

खातों से ठगों ने

धोखाधड़ी से पैसे निकाले हैं

इसके लिए उन्होंने फर्जी

पहचान पत्र बनवाए

और बैंकों में खाते भी खोले


अगर आप प्रोविडेंट फंड

में योगदान कर रहे हैं

तो जरा सावधान हो जाइए

जरूरत है कि आप

जल्द से जल्द

अपना खाता चेक करें

देश के लगभग

ढ़ाई करोड़ कर्मचारियों के

प्रोविडेंट खाते से

पैसे गायब हो चुके हैं



शारदा फर्जीवाड़ा का किस्सा

आम हुआ,दागियों

का दाग आम हुआ

चिटफंड कारोबार खुलेआम हुआ


जो लुट गये सो लुट गये

दोबारा लुट गये

मुआवजा के बहाने

राजकोष कसे मुआवजा

किसके बाप का पैसा है भइया


लाइन लगाकर

आंखों की पुतलियां सौंपी

उंगलियों की छाप

भी उनके हवाले कर दी

हर शख्स की जासूसी हो रही

आम हो या खास

यह आसमान हमारा नहीं

अब यह जमीन भी हमारी नहीं

न जंगाल है हमारा

न पहाड़ हमारा

न जला हमारा

नदियां हमारी

न हमारी घाटी कोई

अपने ही घर से

बेदखल लोग हैं हम

अपने ही गांव से उजाड़े गये हम

अपनी ही घाटी में

अपनी ही नदी में

अनंत डूब में

शामिल है हम

सर पर मंडरा रहा है ड्रोन

हर शख्स को खाना मिले या न मिले

हर हाथ को काम मिले या न मिले

हर खेत को पानी मिले या न मिले

हर देह को कपड़ा मिले या न मिले

हर मरीज को दवा मिले या न मिले

हर बच्चे को शिक्षा मिले या न मिले

हर बेटी को घर वर मिले या न मिले


लेकिन मौत सबकी तय है

बेमौत मौत सबकी तय है

जश्न में कयामत तय है

हर श्खस के नाम

मिसाइलें आयातित

हर शख्स मिसाइली निशाने पर

हर दिल की धड़कन

की खबर है उन्हें

हर दिमाग की हलचल

मालूम हो उन्हें

हर किसी के लिए भइया चाक चौबंद

है इंतजाम फर्जी मुठभेड़ का

अपनी ही जनता के विरुद्ध

युद्ध घोषणा कर दी है

कारपोरेट भारतसरकार ने


अर्थव्यवस्था और विकास दरों का खेल यह

विशुद्ध चिटफंड कारोबार है

विशुद्ध शारदा फर्जीवाड़ा है

खाद्य सुरक्षा,सर्वशिक्षा,

मनरेगा,सूचना का अधिकार

सब चिटफंडकंपनियां

सारा कारोबार बेलगाम


अब कारपोरेट को हर

अपराध करने की छूट

ङर घोटाले की छूट

सालाना लाखों करोड़

की टैक्स छूट के अलावा

लाखो करोड़ के

स्टीमुलस के अलावा

लाखों करोड़ के

रक्षा सुरक्षा सौदा

कमीशन के अलावा

करोड़ो करोड़

विनिवेश के अलावा

एफडीआई के तहत

अरबों का कालाधन सफेद

बनाने के केल के अलावा

लेकिन हर नागरिक दागी है

लेकिन हर नागरिक संदिग्ध है

लेकिन हर नागरिक अपराधी है

इसलिए पुतलियां सहेज दी

कारपोरेट अलमारी में

उंगलियों की छाप

सहेज दी सात तालों में

बेदखली की तलवार

हर नागरिक की गरदन पर

छंटनी की तलवार

हर कर्मचारी की गरदन पर


सुनो भाई साधो

जो डिजिटल बायोमेट्रिक

अश्वमेध अभियान यह है

नकद सब्सिडी के लिए

आधार बने या न बने

सब्सिडी लेकिन

अगले बजट से खतम है


सुनो भाई साधो

आपकी भैंस गयी पानी में

पीएफ गया बाजार

बीमा पहले ही जा चुका

अब वेतन भत्ता भी कब

जाये बाजार,इंतजार करें


जब मिलेगा नहीं कोई राशन

राशन कार्ड से कहीं भी

डिजिटल कार्ड को

किस चूल्हे में झोंकेंगे आप


आम लोगों की क्या कहें

अपने पत्रकार गैर पत्रकार बंधु

चातक बने देख रहे

सुप्रीम कोर्ट की ओर

कब होगी अनंत सुनवाई पूरी

और कब मिलेगा मजीठिया


मालिक सारे सध गये

उत्तराखंड का मामला देख लो

केदार आपदा दफा रफा करने के लिए

सैकड़ों चैनलों को करोड़ों के हिसाब से

बेहिसाब विज्ञापन दे दिये

ऊर्जा प्रदेश के भूगोल के मुकाबले

बड़े प्रदेश और भी हैं देश में

फिर केंद्र सरकार भी है


मालिक सारे सरकार में हैं

मालिक मंत्री सांसद विधायक हैं

मालिक कारपोरेट राज के

सबसे बड़े झंडावरदार

तमगा चमकाकर

जो उपलब्धियां बयान करते हैं

ऐसे पत्रकार सारे साध लिये गये

किस बात की कमी है उन्हें

बंगला है,गाड़ी है

पैनल है, विदेश यात्रायें हैं


बाकी जो तुच्छ लोग हैं

मीडिया में मरने खपने को

दे देंगे उन्हें मजीठिया भी

कितना देंगे कैसे देंगे

बाकी उनकी मर्जी

कब देंगे यह भी उनकी मर्जी


अगले बजट में सफाया

होना है सब्सिडी का

कोई सब्सिडी नहीं होगी

तो नकद सब्सिडी

देंगे किस बात की

बाजार निरंकुश है

सुप्रीम कोर्ट के फैसले आते

रहते हैं ,लेकिन कभी

लागू नहीं होता

सुप्रीम कोर्ट का

कोई फैसला

लागू होता है तो

सिर्फ असुर महिषासुर वध के लिए

जैसे चारा घोटाला में सजा

हो गयी लालू यादव को

सामाजिक न्याय के मोर्चे को

जोर का झटका धीरे से लगा

बाकी लोग खलास हैं

छुट्टा साँड़ हैं तमाम अपराधी

राष्ट्रनायक हैं तमाम अपराधी


प्रधानमंत्री कोयला घोटाले

की जांच का सामना करने

को तैयार,राष्ट्र को यह

संदेश है और कहते हैं

पीएमओ ने सौंप दिये

सारे दस्तावेज सीबीआई को

सुप्रीम कोर्ट ने कह दिया

पिंजड़े में बंद तोता है

सीबीआई

तो सीबीआई जो

पीएमओ के मातहत है

वहीं करेगी जांच

लेकिन प्रधानमंत्री इस्तीफा

हरगिज नहीं देंगे

वाह,क्या न्याय है

क्या न्याय प्रक्रिया है


पहचान के लिए काफी है

राशनकार्ड तो पैन कार्ड

बी अलग से बन गया

बहुउद्देशीय पहचान कार्ड

बन रहा था

कहां गायब हुआ

कोई नहीं जाने हैं

बिना संसदीय अनुमोदन के

अभी आधार चालू हैं

लाखों करोड़ खरचे हुए

आपके हमारे सरकारी

अधिसूचना काफी है

लाखों करोड़ खर्च के लिए


सरकार उलट गयी तो

नयी सरकार आजाद है

असंवैधानिक फालतू

गैरकानूनी कोई भी

योजना खारिज

करने के लिए

जैसा पहले भी होता

रहा है

फिर वे स्वतंत्र हैं

अलग से अपनी योजना

चालू करने के लिए

अपने खेमे के लोगों के

हित साधने के लिए

ऐसा भी पहले से  होता

रहा है,हम तमाशबीनहै

अरबों का न्यारा वारा

होता रहता है

संसद को कानोंकान खबर नहीं होती

कैबिनेट की कमिटी

पैसला करती है

मंत्रालयों के फैसलों के विरुद्ध

और केबिनेट को

खबर नहीं होती


वित्तीय सुधार के तमाम

कदम राजस्व घाटा

खत्म करने की दलील से

अधिसूचनाओं मार्फत

संसद की कोई परवाह नहीं

सुप्रीम कोर्ट की

अवमानना कदम दर कदम

संविधान की हत्या

दिन प्रतिदिन

हम सिर्फ जयकारा

लगाते अंधभक्त

इसी खुशफहमी में होते हैं

कि जब चाहे तब

पलट देंगे तख्ता

हर्माद खदेड़कर

बहाल करेंगे

मां माटी मानुष

की सरकार

और हमारे विरुद्ध

चप्पे चप्पे पर

तैनात हो जाता ड्रोन

पल प्रतिपल

गाइडेड मिसाइलों के निशाने पर हम

रेडियो एक्टिव विकिरण की जद में हम

बेदखली के शिकार हो रहे हैं हम

जनसंहार संस्कृति के लिए

तकनीक का होता बखूब

इस्तेमाल

ताकि हर नागरिक को

अलग अलग

वध्य बनाया जा सके

इस अनंत वधस्थल में


पहचान के लिए

कोई एक कार्ड काफी है

तो इतने सारे कार्ड

पर अंधाधुंध खर्च क्यों

ठेके का कारपोरेट राज है

जवाब वहीं से निकालें जनाब


सारी सामाजिक योजनाएं

वोट बैंक समीकरण है

अंधा बांटे रेवड़ी

फिर फिर अपनों को दें

सारी सामाजिक योजनाएं

चिटफंड कारोबार है

चेन पहले से बना हुआ है

रकम बंदरबांट के लिए

जनता को मिलता ठेंगा

कौन है लाभार्थी

कितना लाभ चूं चू कर

पहुंचता ड्रोन आसमान से

बेदखल जमीन तक

कोई नहीं जानै है

ऊपर से मल्टी नेशनल कंपनियां

जिनका कारोबार

यहां फल फूल रहा है

रात दूनी दिन चौगुनी दर पर

वे रोज आंकड़े करते जारी

सारे सत्ताधारी दलाल

अर्थशास्त्री एकमुश्त

करते हुक्का हुआ

कि अर्थ व्यवस्था संकट में है

विकास खतरे में है

राजस्व घाटा

बेलगाम है

इस पर तुर्रा

भुगतान संतुलन है

शेयर बाजार में धमाल है

रुपया गिर रहा है


फिर बंद कमरे में

नीतियां तय हो जातीं

कोई जनप्रतिनिधित्व नहीं है

भोग लगा है राजधानियों में

भोग लगा है विदेशों में

भोग लगा है समितियों में

फिर कारपोरेट लाबिइंग

की बौछार

रुक रुक कर बारिश

हिमपात घनघोर

मूसलाधार आपदाएं

हाईप्रोफाइल रंडीबाज मार्केटिंग

फिर आपका हमारा बंटाधार


हम लोग कब से चिल्ला रहे हैं

कोई सुन ही नही रहा है

पोटेशियम सायोनाइड है

यह कारपोरेट राज


हम लोग कब से चिल्ला रहे हैं

कोई सुन ही नही रहा है

पोटेशियम सायोनाइड

बन गया है यह

लोकतांत्रिक

कारपोरेट

नीति निर्धारण


हम लोग कब से चिल्ला रहे हैं

कोई सुन ही नही रहा है

पोटेशियम सायोनाइड

बन गया है यह

कारपोरेट

सामाजिक सरोकार


हम लोग कब से चिल्ला रहे हैं

कोई सुन ही नही रहा है

पोटेशियम सायोनाइड है

यह बायोमेट्रिक

आधार पहचान का रसायन


हम लोग कब से चिल्ला रहे हैं

कोई सुन ही नही रहा है

पोटेशियम सायोनाइड है

राजकाज का

यह अश्वमेध अभियान


आपको होश नहीं कि

खुल्ले बाजार में

सरेआम लुट रहे हैं आप


आपको होश नहीं कि

खुल्ले बाजार में

पल पल पल प्रतिपल

नंगे हो रहे हैं आप


आपको होश नहीं कि

कि प्रकृति से हो रहा

सामूहिक कारपोरेट

बलात्कार और

आपकी अब खैर नहीं


आपको होश नहीं कि

जल जंगल जमीन ही नहीं

नगरिकता और मानवाधिकार से

वंचित हो रहे हैं आप


आपको होश नहीं कि

बीमा जो आपने कराया

उसका प्रीमियम भी

वापस नहीं मिलेगा


आपको होश नहीं कि

हर महीन जो पीएफ

कटवाते हैं आप

उसे लूटने का

चाक चौबंद

इंतजाम है अब


आपको होश नहीं कि

ग्रेच्युटी भी

मिलना मुश्किल है

और पेंशन अब

सिर्फ फर्जीवाड़ा है


आपको होश नहीं कि

शारदा फर्जीवाड़े के

आप भी है शिकार

और पूरी अर्थ व्यवस्था

अब चिटफंड है


लीजिये आईपीएल का

मजा जनाब बेहिसाब

चियरणों के जलवे से

कीजिये हनुमान जी का

नाला पार

हरगिज मत सोचिये मगर

किसका पैसा कहां से आया

और कहां जा रहा है पैसा

बस,चौकों छक्कों

की बारिश देखिये

और

अस्मिताओं में कैद

अपने अपने द्वीप में

क्रांति के नाम

करते रहिये

हस्तमैथुन


जयपुर। कर्मचारी भविष्य निधि संगठन यानी प्रोविडेंट फंड (पीएफ) विभाग के 40 हजार खातों में तकरीबन 41 करोड़ रु. के नेगेटिव बैलेंस का पता चला है। अकेले जयपुर रीजनल ऑफिस का आंकड़ा 18 हजार खातों का है। वहीं, जोधपुर, उदयपुर और कोटा सब-रीजनल ऑफिसों के 22 हजार अधिक खातों के भी यही हालात हैं। देशभर में तकरीबन 2.5 करोड़ प्रोविडेंट फंड खातों में नेगेटिव बैलेंस की जानकारी आने के बाद से कर्मचारियों और पीएफ खाता धारक चिंता में पड़ गए हैं।

सरकारी कर्मचारियों, कंपनी व संस्थागत कर्मचारियों में यह बात चर्चा का विषय बन गई है कि उनके पीएफ अकाउंट का भी हाल कहीं ऐसा तो नहीं है।  दरअसल, यह गफलत प्रोविडेंट फंड के अधिकारियों और कर्मचारियों के लापरवाही और समय पर सही तरीके से खातों की अकाउंटिंग नहीं करने के कारण सामने आई है।


सेंधमारी की भी आशंका

पीएफ कमिश्नर आरके सिंह मानते हैं कि अकाउंट्स में गड़बड़ हुई है। वे सेंधमारी की आशंका से भी इनकार नहीं करते। उन्होंने बताया कि पिछले दिनों ऐसे 12 खातों का भी पता चला था, जिनमें ज्यादा भुगतान हुआ था। संबंधित अधिकारियों-कर्मचारियों की जिम्मेदारी तय की गई है। इसका भुगतान भी उनकी सैलरी से होगा। यही नियम भी है।


प्रदेश में करीब 33 लाख खाते

प्रदेश में पीएफ के तकरीबन 33 लाख खाते हैं। प्रदेश में रीजनल ऑफिस जयपुर में है जहां 18 लाख खाते हैं। जयपुर रीजनल ऑफिस के तहत 10 जिले आते हैं इनमें जयपुर, चूरू, सीकर, झुंझुनूं, अलवर, दौसा, भरतपुर, अजमेर, धौलपुर और टोंक हैं। वहीं, बाकी खाते 3 सब-रीजनल ऑफिस उदयपुर, कोटा और जोधपुर में हैं।


यूं हुआ नेगेटिव बैलेंस

कई मामलों में पीएफ क्लेम 100 फीसदी दिया गया, लेकिन कर्मचारी की कंपनी ने 90 फीसदी ही रिटर्न दिया तो 10 फीसदी नेगेटिव बैलेंस हो गया। कर्मचारी के कंपनी बदलने के बाद पुराने खाते का पैसा नए अकाउंट में जमा नहीं होने से, पीएफ कर्मचारियों की गलती से भी ओवर-पेमेंट व सही वक्त पर अकाउंट अपडेट नहीं करने से भी ऐसा संभव है।


आपके पीएफ खातों में लगी सेंध, करोड़ों का फर्जीवाड़ा

इकनॉमिक टाइम्स | Oct 18, 2013, 02.06PM IST

पीएफ अकाउंट पर फ्रॉड का खतरा


प्रविडेंट फंड (पीएफ) अकाउंट का 30 फीसदी या करीब 2.5 करोड़ अकाउंट्स में नेगेटिव बैलेंस है। धोखाधड़ी करने वाले लोगों ने फर्जी विड्रॉल क्लेम से एंप्लॉयीज की रिटायरमेंट सेविंग्स में सेंध लगा दी है। इसके लिए फर्जी आइडेंटिटी डॉक्युमेंट्स की मदद से बैंक अकाउंट खोले गए हैं।


पीएफ डिपार्टमेंट पिछले कुछ दिनों में अलग-अलग दो निष्कर्ष से भौंचक्का है। अब डिपार्टमेंट डैमेज कंट्रोल करने में लगा है। इसने सभी फील्ड ऑफिसर्स को सख्त दिशानिर्देश जारी कर इन गड़बड़ियों की जिम्मेदारी तय करने को कहा है। इसके अलावा डिपार्टमेंट ने नेगेटिव बैलेंस को ठीक करने और सिस्टम के जरिए कोई फर्जी दावा नहीं होने को सुनिश्चित करने को कहा है।


करीब 8.15 करोड़ फॉर्मल सेक्टर एंप्लॉयीज की पीएफ अकाउंट को लेकर चिंता बढ़ गई है। इनमें उन लोगों की मुश्किलें ज्यादा बढ़ सकती हैं, जो पिछले कुछ सालों के दौरान कई नौकरियों में शिफ्ट हुए हों और पीएफ बैलेंस निकाल नहीं पाएं हों या उसे ट्रांसफर नहीं करा पाए हों।



FILE

EPF यानी एमप्लाई प्रोविडेंट फंड आपकी सैलरी का छोटा सा हिस्सा (बैसिक सैलरी का 12 प्रतिशत) हर माह आपके पीएफ अकाउंट में जमा होता रहता।


यह बात अधिकतर लोग EPF के बारे में जानते हैं, लेकिन आज हम आपको EPF पर कुछ ऐसी बातें बताने जा रहे हैं, जो न केवल आपको मालूम होनी चाहिए बल्कि आपको उनका लाभ भी लेना चाहिए।





आप अपने पीएफ के लिए किसी को नॉमीनी बना सकते हैं - हालांकि यह ईपीएफ के बारे में बहुत ही बैसिक बातों में से एक है, लेकिन समय बीतने के साथ ज्यादातर लोगों को इसका ध्यान नहीं आता कि वे उनके EPF के लिए अपने परिवार के किसी सदस्य को नॉमीनी बना सकते हैं। यह नॉमीनी EPF अकाउंट वाले की मृत्यु होने की दशा में EPF में जमा राशि के लिए दावा कर सकता है।


आप EPF पर पैंशन भी पा सकते हैं- आपके EPF में जमा हो रही राशि का कुछ भाग आपके पैंशन अकाउंट में भी ट्रांसफर होता है। हालांकि इसमें कुछ टर्म कंडीशन हैं जिनके तहत आप एक समय सीमा के बाद पेंशन के हकदार हो जाते हैं। पैंशन लेने के लिए आपकी उम्र कम से कम 58 वर्ष होनी चाहिए और आपका सेवाकाल कम से कम 10 साल। अगर एक से अधिक कंपनी में आपने काम किया है तो उस दशा में आपका पीएफ ट्रांसफर होना चाहिए। अगर 10 साल से पहले आपने अपना पीएफ निकाल लिया तो फिर आप पैंशन के हकदार नहीं रहेंगे। आप अपना वर्तमान EPFबैलेंस जानने के लिए EPF ई पासबुक ऑप्शन का इस्तेमाल भी कर सकते हैं।


पैंशन पार्ट पर कोई ब्याज नहीं- आपकी सैलरी से हर माह कटने वाले EPF के पैंशन भाग पर आपको कोई ब्याज नहीं मिलता। ब्याज केवल आपको अपने पैंशन पार्ट से अलग EPF राशि पर ही मिलता है। ज्यादातर लोग समझते हैं कि EPF के कुल अमाउंट पर ब्याज मिलता है, लेकिन ऐसा नहीं है।


हो सकता है आपको 100 प्रतिशत EPF राशि न मिले - मान लीजिए कि आपके EPF की कुल राशि 3,50,000 बनती है, जिसमें से 2,50,000 आपके EPF में चला गया और शेष 1 लाख रुपया आपके पैंशन अकाउंट में चला गया। अगर आप अपनी जॉब के 6वें साल में इस्तीफा देते हैं तो आप क्या सोचते हैं आपको 3,50,000 रुपए मिलेंगे? जवाब है नहीं। ऐसा इसलिए है कि आप अपने EPF की 100 प्रतिशत राशि पाते हैं, लेकिन पैंशन अकाउंट में अलग नियम है।


जॉब बदले पर EPF निकालना गैरकानूनी है - ज्यादातर लोग जॉब बदलने के दौरान अपनाEPF निकाल लेते हैं, जो एक आम बात है, लेकिन EPF के नियमों के अनुसार यह गैरकानूनी है। आप अपना EPF ‍तभी निकाल सकते हैं, जबकि आप पिछले दो महीनों से बेरोजगार हैं। नई जगह ज्वाइन करने की दशा में आप अपना EPF ट्रांसफर करवा सकते हैं, उसे निकाल नहीं सकते।


EPF में है जीवन बीमा भी- ज्यादातर लोग यह नहीं जानते कि अगर उनक कंपनी उन्हें ग्रुप लाइफ इंश्योरेंस उपलब्ध नहीं करवा रही है तो EPF में आपका छोटा सा जीवन बीमा भी कवर होता है, इसे एम्प्लाई डिपोजि़ट लिंक्ड इंश्योरेंस कहते हैं।


कब निकाल सकते हैं ईपीएफ- EPF को बीच में निकालने के लिए भी नियम है, लेकिन इसके लिए आपको एक मजबूत कारण देना होगा। जैसे अगर आप अपनी या अपने बच्चों की शादी या उनकी शिक्षा के लिए EPF राशि में से कुछ भाग निकाल सकते हैं।


* आपके या आपके परिवार के किसी सदस्य के इलाज के लिए।

* होमलोन चुकाने के लिए।

* घर की मरम्मत या उसे बनाने के लिए।


HSBC says India's CAD is expected to gradually decline in the coming years and in 2014-15, it is likely to be at 3.2 per cent of GDP.



Global financial services major HSBC today lowered India's current account deficit (CAD) forecast for this financial year to 3.4 per cent of GDP from 4.1 per cent earlier.

HSBC said the country's CAD is at an unsustainable level, and expected to gradually decline in the coming years and in 2014-15, it is likely to be at 3.2 per cent of GDP.

"We expect the CAD to narrow to around USD 62 billion in this fiscal (as against USD 88 billion in FY13), around 3.4 per cent of GDP. This compares to our previous forecast of USD 73 billion (4.1 per cent of GDP)," HSBC said in a research note.

HSBC's CAD projections factored the increase in imports during the festive season and rise in coal imports to help meet demand from power plants in the coming months.

In the next fiscal year, FY15, we expect the deficit to hold broadly steady in nominal terms and decline to 3.2 per cent of GDP.

CAD, the difference between inflow and outflow of foreign exchange, had declined to 3.6 per cent in the January-March quarter after touching a record high of 6.5 per cent in the October-December quarter.

The government plans to bring down CAD to 3.7 per cent or USD 70 billion in the 2013-14 fiscal, from 4.8 per cent or USD 88.2 billion in 2012-13.

HSBC said CAD has narrowed notably in recent months mainly driven by government steps to curb imports, especially gold. Moreover, the softening in domestic demand has dampened imports and helped contain the deficit.

"Encouragingly, the trade deficit has narrowed in recent months, led by slower domestic demand, a weaker currency and policy steps to curb imports. These factors should help narrow the CAD this and next year," HSBC said.

The report further noted that it is important to keep macroeconomic policies tight and step up the implementation of structural reform to further reduce vulnerabilities ahead of Fed tapering and make the CAD sustainable over the medium term.


जैतापुर वालों

कुड़नकुलम वालों

देख लो फुकोसामा का

यह नजारा भीA common complaint among Fukushima workers was the project's dependence on a sprawling and little scrutinised network of subcontractors. (Reuters)



Tetsuya Hayashi went to Fukushima to take a job at ground zero of the worst nuclear disaster since Chernobyl. He lasted less than two weeks.

Hayashi, 41, says he was recruited for a job monitoring the radiation exposure of workers leaving the plant in the summer of 2012. Instead, when he turned up for work, he was handed off through a web of contractors and assigned, to his surprise, to one of Fukushima's hottest radiation zones.

He was told he would have to wear an oxygen tank and a double-layer protective suit. Even then, his handlers told him, the radiation would be so high it could burn through his annual exposure limit in just under an hour.

"I felt cheated and entrapped," Hayashi said. "I had not agreed to any of this."

When Hayashi took his grievances to a firm on the next rung up the ladder of Fukushima contractors, he says he was fired. He filed a complaint but has not received any response from labour regulators for more than a year. All the eight companies involved, including embattled plant operator Tokyo Electric Power Co, declined to comment or could not be reached for comment on his case.

Out of work, Hayashi found a second job at Fukushima, this time building a concrete base for tanks to hold spent fuel rods. His new employer skimmed almost a third of his wages - about $1,500 a month - and paid him the rest in cash in brown paper envelopes, he says. Reuters reviewed documents related to Hayashi's complaint, including pay envelopes and bank statements.

Hayashi's hard times are not unusual in the estimated $150-billion effort to dismantle the Fukushima reactors and clean up the neighbouring areas, a Reuters examination found.

In reviewing Fukushima working conditions, Reuters interviewed more than 80 workers, employers and officials involved in the unprecedented nuclear clean-up. A common complaint: the project's dependence on a sprawling and little scrutinised network of subcontractors - many of them inexperienced with nuclear work and some of them, police say, have ties to organised crime.


और अमेरिका

ऐसे नियंत्रित

करता है

भारतीय

अर्थ व्यवस्था

और

भारत की सरकार

ऐसे ही वाशिंगटन से

तय होती

नीति निर्धारण की दशा दिशा

और ऐसे ही सध जाते हैं

अमेरिकी हित तमाम

India is one of the five fragile economies: US officialIndia was identified as one of five fragile economies that took strong policy response to stabilise foreign exchange markets. (Reuters)

Identifying India as one of the five fragile economies of the world, a senior US official has predicted an uncertain outlook for its future in view of the next year's general elections.

"The big question about India now is what happens in the election next year and who will be the new government. That's a very complicated question," Assistant Treasury Secretary for International Finance Charles Collyns, said.

"India's the world's largest democracy. It has a multiple of political parties. There's one party on the right, the BJP, which would certainly try to push forward pretty aggressive reforms."

"On the other hand, that party's also been associated with less positive social policies, and it's not clear whether they will actually gain power even if they become the largest seat holder in Congress," Collyns said at the George Washington University's Elliott School of International Affairs.

"On the other hand, if you had a coalition of regional governments, which is another possibility, that would probably be pretty negative for reforms. So it's an uncertain outlook," Collyns said.

Collyns said India is one of the five fragile economies of the world. The other four being Brazil, Indonesia, Turkey and South Africa, he said.

"The 'fragile five' are fragile because they have large current account deficits and they've relied heavily on portfolio capital to finance those deficits.

The "fragile five" suffered particular steep depreciations in the exchange rate. So gradually over the summer there was a clear discrimination between the most fragile and other economies," Collyns said.

The Treasury official said, the fragile economies had to take a pretty strong policy response to stabilise their foreign exchange markets.

"Three of them actually had to increase their policy rates. Brazil, India and Indonesia raised their policy rates. But the policy response was much broader than just raising interest rates, as shown in this chart here," he said.

और इस तरह कारपोरेट राज

का खुल्ला खेल

फर्रूखाबादी

जारी रहता

रिजर्व बैंक

और सेबी की

महरबानी से

यही है

यही है

यही है

चिटफंड

कारबार

बेलगाम


SMEs will be eligible for listing if they have not completed a period of more than 10 years after incorporation and its revenues have not exceeded Rs 100 cr.


Market regulator Sebi has issued detailed guidelines, including on eligibility criteria, for listing of start-ups and small and medium enterprises (SMEs) on stock exchanges without an initial public offer (IPO).

The guidelines follow notification of new norms by Sebi earlier this month for permitting listing of start-ups and SMEs on Institutional Trading Platform (ITP) of SME Exchanges.

Through this new route, the SMEs and start-up companies would not need to make a public offer of securities for getting listed in the stock market.

The move would help SMEs and start-ups raise capital from the securities market during their early stages of growth, as lack of exit opportunities in case of unlisted companies come as a major hindrance for small companies to get capital.

As per the new guidelines issued today, a company would be eligible for such listing if it has not completed a period of more than 10 years after incorporation and its revenues have not exceeded Rs 100 crore in any of the previous financial years, among others.

In addition, the company should have got an investment of at least Rs 50 lakh by an alternative investment fund, or a venture capital fund, or by a merchant banker, or an angel investor, or a specialised international multilateral agency, or a public financial institution, among other such investors.

As per rules regarding capital raising by SMEs, the norms said a company may raise funds through private placement or through a rights issue.

"In case of a rights issue, there shall be no option for renunciation of rights and the company seeking to get listed on ITP shall agree to make necessary amendments to its articles of association to this effect," Sebi added.

The market regulator has asked the promoters of SMEs not to hold less than 20 per cent of the post listing capital of the company and the same shall be locked-in for a period of three years from date of listing.


Dilip C Mandal
रोज अपने खांसने-छींकने, कुत्ता टहलाने, दारू पीने, पुरस्कार लेने, अपनी पारिवारिक बंदूक भांजने, विदेश और देश में टूरिज्म करने, सोने-जागने, फलां-फलां जी के साथ, कभी बेडरूम की तो कभी बालकनी की... आदि की तस्वीर छापने और अपना पल पल का हाल बताने वाले आत्ममुग्ध साहित्यकारों-पत्रकारों-बुद्धिजीवियों से क्षमायाचना सहित.


आज मेरे अपने बारे में कुछ. बहुत सहम कर. बेहद हिचक के साथ. साल-दो साल में कभी-कभार तो बनता है. बुरा लगे तो झेल लीजिए. टॉलरेट कीजिए. रोज-रोज की बात नहीं है. कुछ खास नहीं है. बस यूं ही.....http://samachar4media.com/Dilip-Mandal-became-managing-editor-of-india-today.html

http://samachar4media.com/Dilip-Mandal-became-managing-editor-of-india-today.html

samachar4media.com


Finance minister is finding it harder and harder to meet the government's budget promises and may sweep as much as $15 billion in subsidy costs into next year's accounts to ensure he hits fiscal targets ahead of national elections, ministry officials say.


The Finance minister, P. Chidambaram, insists that the fiscal deficit target of 4.8 percent of GDP for the year to March 31, 2014, is a red line that will not be breached. The worst economic downturn since 1991 and a fall in the rupee to a record low have undermined budget assumptions for some months.


But finance ministry officials said the window to raise domestic fuel prices sharply, which would cut subsidies, is closing with state and national elections drawing closer, so shifting some costs into the 2014/15 budget is inevitable.


"It's a given," said one official, who declined to be identified.


The worst-case scenario as of now is that $15 billion in costs will have to be rolled over into next year's budget, the ministry officials said. This assumes that there will be no substantial increase in domestic fuel prices to offset the ballooning subsidies.


By rolling over some costs, Chidambaram can tell voters in the run up to the elections, which must be held by May, that the government met its deficit target. But equally, he will be shackling the next government with costs that could blunt its ability to stimulate an economic recovery.


"Whatever we need to do, we will do. But the fiscal deficit target will be met," said a finance ministry official. "No one should be in doubt about that."


Meeting the target is important also to stave off the ire of ratings agencies as India's credit status sits just one notch above junk. A loss of its investment grade rating would probably increase the government's borrowing costs.


Last year, Chidambaram narrowed the budget deficit by 1 percentage point to 4.9 percent of GDP by pushing nearly $15 billion in subsidy costs into this year's budget and cutting more than $16 billion in planned spending, two ministry officials said.


This year, he could rollover a similar amount in subsidies, the officials said. This will be in addition to spending cuts of $3.2 billion or more that officials are already predicting for the year.


The amount will be partly determined by the success of an auction of telecom spectrum, expected in January. The budget had pencilled in $2 billion for the sale.


But the most critical factor will be whether Chidambaram can gather government support to raise domestic fuel prices to offset ballooning subsidy costs. Some policymakers see that as politically unpalatable ahead of state elections in December, leaving a small window after those votes before the country moves into national elections.


A finance ministry spokesman, D.S. Malik, said it was "too early to say anything at this stage" on how much the rollover would be.


Chidambaram had planned to cap the subsidies for the likes of fuel and food at 2 percent of GDP, or about $38 billion. But finance ministry officials said it could cost as much as 2.9 percent of GDP, or $55 billion, this fiscal year.


Chidambaram had said earlier this month that the jump in subsidy spending must be tackled sooner rather than later to help stabilise an economy shaken this year by the rupee's slump and a record current account deficit. India imports nearly 80 percent of its oil needs and the rupee drop made government fuel subsidies more costly.


SOARING SUBSIDY BILL


Finance ministry officials in September called for an increase in diesel prices of close to 10 percent to offset the pressure on the subsidy bill.


But Prime Minister Manmohan Singh has shied away from raising fuel prices for fear it could upset voters and cost his Congress party the elections.


At the same time, international oil prices have remained stubbornly high and although the rupee has climbed up from its record low, it remains historically weak.


A new law to provide cheap grains to millions of people has increased procurement and storage costs, inflating food subsidies by around 10 percent. Adding to Chidambaram's headache, the fertiliser ministry has asked for a 50 percent hike in its budgeted subsidy.


"The budget will simply collapse, if we continue to provide subsidies on this scale," said a finance ministry official. "There is no alternative to a 3-5 rupees increase in diesel prices."


ASSUMPTIONS


It is not unusual for the government to rollover some costs into the following year's budget, although they are not publicly revealed. However, subsidy spending has massively overshot budgeted estimates for the last three fiscal years forcing up the amount of cost that the government rolls over.


If the economy was booming, Chidambaram would have easily absorbed higher subsidy costs. But GDP rose 5 percent in 2012/13, the weakest pace in a decade. Most analysts expect growth to weaken further this fiscal year, although the budget assumed a rebound to around 6.5 percent.


Ministry officials say the rollover is the result of India's cash-basis accounting, in which income is recorded when cash is received and expenses are recorded when cash is paid out. Many advanced economies follow accrual accounting, in which income and expenses are recorded as they occur regardless of whether cash has actually changed hands.


India's accounting method "never gives you the real picture of your finances," said Devendra Kumar Pant, chief economist at India Ratings & Research. "You start the year on the back foot as you have so much backlog to clear."


Sebi, government may change mutual fund policy to route PF money into markets

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Sebi, government may change mutual fund policy to route PF money into markets


By Reena Zachariah & Shaji Vikaraman, ET Bureau | 25 Oct, 2013, 06.26AM IST



MUMBAI: The Securities & Exchange Board of India and the government are working on sweeping changes to the policy on mutual funds that could see them gain access to a substantial amount of money from the state-administered provident fund and other retirement programmes, a move that could lift the fortunes of the asset management industry.


The long-term mutual fund policy will also feature proposals on tax breaks and incentives besides obliging asset managers to reach out to investors in the hinterland in an attempt to increase the industry's asset base and attract higher investments, said a senior official involved with the drafting of the plan who didn't want to be named.


The policy will also propose the scrapping of differential tax treatment for mutual funds in relation to pension funds and insurance plans. The regulator is of the view that, as with other sectors of the economy, a long-term policy for mutual funds is critical to mobilising domesticsavings for economic expansion and achieving inclusive growth. Over 50% of household savings are currently parked in bank deposits as investors prefer products that protect their principal and ensure assured returns.


"Globally, through tax breaks, pension money comes into mutual funds. In India, we don't allow it. Sebi is of the opinion that a portion of it should be allowed," said the official cited above.


The latest proposals mean mutual funds could tap an over 5-lakh crore corpus, providing a boost to the industry, which has been struggling after Sebi imposed a ban on entry load, or upfront commission, in 2009.


*

Regulator in Talks with Finmin

The capital market regulator is in talks with the finance ministry to allow mutual funds to manage long-term funds such as retirement savings as it proposes to introduce mutual fund-linked retirement plans in line with similar schemes overseas, such as the US 401(k). Since policy is the domain of the government, the finance ministry is also involved in the process and is part of a committee working on the draft.

"The kind of schemes that should be allowed needs to be decided. We have involved the government in the committee. Even on theEPFO (Employees' Provident Fund Organisation), we have sounded them," he said.


The regulator also plans to propose that rules are tweaked to allow EPFO, which comes under the ambit of the labour ministry, to invest up to 15% of its corpus in select equity schemes. EPFO can invest up to 15% of its corpus in shares of companies in which derivatives are allowed. But because of risk-aversion on the part of its trustees,investments in equity mutual fund schemes are not allowed. This is a barrier that the regulator and the finance ministry will have to overcome as there has been resistance from the labour ministry and EPFO to attempts to channel retirement funds to equity markets. EPFO contributions come with tax advantages as well as assured returns.


According to EPFO's annual report for 2011-12, the total corpus available with it is about 5.46 lakh crore and the annual incremental inflow is about 80,000 crore. Sebi is of the viewthat the government could encourage companies and individuals to participate in pension schemes outside EPFO by channeling that money to the mutual funds sector. Since the provident fund corpus comprises contributions from both the employee and employer, workers should be given an option to invest a part of their share in a mutual fund product. Under the EPFO Act, workers earning up to 6,500 per month are required to be members while those drawing more than this threshold can choose to stay out.


"It will be one of the biggest moves to encourage long-term domestic savings into equity markets, which we badly need," said Dhirendra Kumar, CEO of Delhi-based mutual fund tracker Value Research. "Today, retail investors don't have a choice of investing their long-term savings into equities with tax benefits like that of NPS (National Pension Scheme), EPFO or PPF ( Public Provident Fund), which are dominantly fixed-income retirement saving options."


However, the government will also need to provide tax breaks to make such options attractive, he said.


The regulator reckons that a mutual fund-linked retirement plan will give investors a good alternative for parking their retirement savings as they could gain from the expertise of a large pool of asset managers. Another proposal being weighed is an additional tax benefit of 50,000 over and above the existing limit of 1 lakh under Section 80C of I-T Act, besides categorising such investments as EEE, or exempt from tax at three stages - investment, accrual and maturity. The committee working on the policy will also consider whether the surplus funds of cash-rich state-owned companies could be invested in mutual funds.


Currently, the only pension schemes offered by fund houses that are eligible for tax deduction are UTI Retirement Benefit Pension Fund and Templeton India Pension Fund. These schemes were launched in the 1990s and manage assets worth 1,000 crore. Other fund houses haven't been able to launch any new pension schemes as such plans don't automatically qualify for tax breaks, a fund official said.


Economic Times Report


P Chidambaram asks market regulators to take preventive steps to cushion impact of US tapering

NEW DELHI: The government firmed up plans for the next round of financial sector reforms in consultation with regulators and drafted an ambitious strategy to tap large global debt funds to shore up foreign exchange reserves.P Chidambaram also asked financial sector regulators to put in place all possible measures to avoid any adverse impact on India.

Finance minister P Chidambaram also asked financial sector regulators to put in place all possible measures to avoid any adverse impact on India from the US scaling back its stimulus programme, which he expects "sooner or later".


"The opportunity available due to the postponement of the reversal of the monetary policies in advanced economies should be utilised to further address the macroeconomic imbalances," he said at the meeting of the Financial Stability and Development Council (FSDC) held under his chairmanship on Thursday.


There was consensus among council members that the impact of the tapering would not be significant, a finance ministry official said. The government and the regulators will also formulate a joint strategy to tap sovereign wealth funds to attract long-term foreign debt capital into the country.


Sovereign wealth funds from the Middle East and the Nordic countries besides pension funds of Australian state governments will be targeted as part of this exercise. "We want to reach out to potential debt players," the official said.


FSDC, the apex regulatory coordination body, also decided to pick up elements from the FSLRC (Financial Sector Legislative Reforms Commission) report that can be implemented without legislation.



*


"There was near unanimity about implementing the non-legislative recommendations of the FSLRC," the official said.

A Finance ministry statement later said FSDC had decided that all financial sector regulators, including the Forwards Markets Commission, will finalise an action plan for implementation of FSLRC principles relating to regulatory governance, transparency and improved operational efficiency that don't require legislative action.


The Justice BN Srikrishna-headed FSLRC has proposed a new framework for financial sector regulation and proposed a draft Indian Financial Code to replace multiple and archaic financial sectors laws.


FSDC, which includes the Reserve Bank of India, Securities & Exchange Board of India, andInsurance Regulatory & Development Authority, will analyse public comments and feedback to further fine tune the draft Indian Financial Code.


The council also decided that action should be taken to finalise the roadmap for creation of new institutions such as the Resolution Corporation, Public Debt Management Agency, Financial Sector Appellate Tribunal, and Financial Data Management Agency.


FSDC also discussed the corporate distress redressal mechanism under the Companies Act, 2013 and identified the role of regulators and the government in implementing the provisions to prevent and take remedial measures on the issue.


http://economictimes.indiatimes.com/news/economy/policy/P-Chidambaram-asks-market-regulators-to-take-preventive-steps-to-cushion-impact-of-US-tapering/articleshow/24678635.cms


PMO gives Hindalco coal block allocation file to CBI, says ready to share any information

The Prime Minister's Office (PMO) on Friday handed over to the Central Bureau of Investigation (CBI) the file related to the controversial allocation of coal block to Hindalco in Odisha as sought by the investigative agency.


"The CBI had sought the file related to the allocation. We gave the file and got the receipt," a PMO official said.

The PMO told the CBI that it was ready to provide any other information, if required, about the allocation of Talabira coal block made in 2005. The Prime Minister, who has been under opposition attack over the allocation to Hindalco promoted by Kumar Mangalam Birla, has defended the decision as "entirely appropriate" and based on merits of the case presented to him.

Controversy erupted over the allocation after the CBI registered an FIR against Birla and former coal secretary P C Parakh last week.

Parakh has said if he is accused of conspiracy, then the Prime Minister also should be made an accused as he had approved the revised decision, prompting the BJP to demand his resignation.

The Prime Minister had on Thursday said he was ready to face CBI in the matter as he has nothing to hide.

"I am not above the law of the land. If there is anything the CBI or, for that matter anybody, wants to ask me, I have nothing to hide," he told reporters while returning from his two-nation tour of Russia and China.

While defending the decision, the PMO last week issued a statement acknowledging that the final decision of October 1, 2005 "differed" from the earlier recommendation of the screening committee.

It had released the sequence of events which suggested that the norms set by the Prime Minister were relaxed in view of representations made by Birla and Odisha Chief Minister Naveen Patnaik.



Machimar Adhikar Sangharsh Sangathan

Mundra, Kutch, Gujarat, India

Press Statement  | October 24, 2013

CAO found IFC made serious lapses in funding Tata coal plant; President Kim rejects expert findings, thwarts further action

The International Finance Corporation (IFC) broke its own social and environmental rules, says theCompliance Advisor Ombudsman (CAO) which released an investigation report yesterday. A recourse mechanism for communities affected by private sector projects that the World Bank Group supports, CAO found that IFC committed serious violations of its mandatory safeguards in financing its client, the Coastal Gujarat Power Ltd. (CGPL), which manages the 4,000 megawatt Tata Mundra Ultra Mega Power Project in Kutch, Gujarat.

Stopping short of calling for IFC's withdrawal from financing the project, the CAO finds that the 'IFC weaknesses in reviewing the client's risk assessment and mitigation did not support the formation of a robust view that the project met the IFC's policy requirements, that IFC did not consider alternative project design to avoid or minimize impacts, and that IFC has not treated complainants' concerns as compliance issues.'

Machimar Adhikar Sangharsh Sangathan (MASS - Association for the Struggle for Fishworkers' Rights), the organization of fishing families that filed the complaint at the CAO in June 2011, welcomes the report. "The findings reconfirm the concerns we raised since project construction started," Dr. Bharat Patel, General Secretary of MASS said. "CAO's expert findings help bolster our fight to regain the damaged livelihoods of thousands of fishing families in Kutch coast."

MASS asserted that IFC failed to account fisher people as project-affected people, to adequately assess and mitigate environmental and livelihood impacts, and to comply with mandatory performance standards and national regulations, among others. Dispute resolution attempts did not work, leading CAO in 2012 to do a compliance appraisal, which concluded that MASS complaint merited a full investigation.

In more than one year, CAO embarked on an extensive compliance audit process by hiring external experts, conducting field visits, reviewing relevant reports, and crosschecking with the IFC.

Disturbing findings

CAO validated major MASS complaints. It found the IFC committed serious supervision failures and significant policy breaches.

CAO confirmed that IFC did not adequately consider in its risk assessments seasonally resident fishing community and religious minority population to be affected by the project, which excluded them from the application of land acquisition standard, biodiversity conservation and other relevant policies to protect them.

CAO confirmed that that IFC committed major shortcomings in fulfilling requirements to manage impacts on airshed and the marine environment. Specifically, the investigation found that IFC did not ensure that its client correctly applied the 1998 WB guidelines for thermal power that restrict a net increase on emissions of particulates or sulfur dioxide within the airshed. On marine environment, CAO found the IFC to have no robust baseline data on project impacts to marine resources, which constrained it from monitoring marine impacts.

CAO also found that IFC has not assured itself that the plant's seawater cooling system complied with applicable IFC Environmental, Health and Safety (EHS) Guidelines. This compliance failure risks that thermal plume from the project's outfall channel  will extend into shallow waters and estuaries that pose significant ecological risks on marine resources.

CAO also confirmed the failure of the IFC to conduct an adequate cumulative impact assessment. CAO stressed that IFC should have advised its client that environmental and social risks emerging from the project's proximity and relationship with Mundra Port and Special Economic Zone should have been assessed by a third party, with mitigation measures developed.

CAO concluded that IFC's review and adoption of its client's reports are not robust to ensure the Performance Standards and supervision requirements are met.

IFC rejects findings, backs up the client

An eleven-page response written by Anita George and Willian Balmer, IFC's Asia-Pacific Director for Infrastructure and Natural Resources and Director for Environment and Social Governance, respectively dismissed CAO findings. Essentially, they rejected expert findings, defended their project decision and their client and issued no remedial action. After a month of silence, World Bank President Kim cleared management response.

Dr. Kim, a physician by trade, was known for championing public health before joining the Bank. Yet, his approval on the IFC response presents a severe diversion from his typical advocacy. With the decision, thousands of fishing and fishworker families will continue to suffer from air pollution, contaminated water and destroyed marine resources that CAO found to be directly linked with the construction and operation of Tata coal plant. CAO found that this wide range of problems is attributed to IFC. Kim, instead of addressing the findings, stood by his IFC staff and their client, Coastal Gujarat Power Limited (CGPL), ignoring the plight of fishing communities adversely impacted by the deadly investment.

"By clearing the IFC response, President Kim sends a clear message that he supports his staff's denial of science, of expert findings and endorses management's avoidance of accountability," says Dr. Patel.

President Kim contradicts Bank's energy strategy and undermines CAO mandate

"By flatly rejecting the findings of independent audit body, Kim simply revealed a highest form of hypocrisy in his climate stance," says Soumya Dutta, a member of India Climate Justice and coordinator of the Independent Fact Finding Mission that produced the 2012 Real Cost of Powerreport that documented the violations of the company.

Dutta adds: "Kim's endorsement of the management line indicates his real position that coal does not kill and he will continue supporting the deadly coal plants like Tata that are not only disastrous but also facing serious financial issues. It then contradicts the President's energy directions paper and pronouncements on moving the institution away from coal financing. His tall talk on climate change is proving to be a charade."

"That Kim approved management's dismissive reaction reconfirms the lack of public accountability within the IFC," observes Madhuresh Kumar of National Alliance of People's Movements that supports MASS. "Kim sends a damaging signal that the World Bank Group's internal watchdogs like the CAO and the Inspection Panel are more for namesake; and that despite their findings, it is business as usual for the Bank," adds Madhuresh. "Kim simply undermined all the findings of the CAO in favor of their client. The President's clearance smacks of arrogance, refusal to learn lessons and disregard to people and their rights."

"We wonder why an institution like CAO exists if their findings are not given any value and no action is taken upon it," said Soumya Dutta. "If President Kim is serious about the accountability that he talks about, and about learning from the Bank's mistakes to prevent them from occurring again, he should take bold decisions based on the findings.'

Communities demand the World Bank President to stop his charade that he can take people for a ride and take bold actions based on the CAO findings. "Now that World Bank's own investigations found such serious lapses, it is time for the Bank to sit up and take appropriate and immediate actions. We will not agree on anything short of IFC withdrawing financing from the project," Dr. Patel said.

CAO Audit Report: http://www.cao-ombudsman.org/cases/document-links/documents/TermsofReference_CGPLAudit_October242012.pdf

IFC Response to CAO Audit report:  http://www.cao-ombudsman.org/cases/document-links/documents/IFCresponsetoCAOAudit-CoastalGujaratPowerLimited.pdf

Key Observations and Findings of CAO Audit: http://www.bicusa.org/wp-content/uploads/2013/10/Key-Observations-and-Findings.pdf

Contacts / For Interviews:

Bharat Patel (Mundra, Gujarat): +91-9426469803

Soumya Dutta (Delhi): +91-9213763756

Justin Guay (US): +1-202-664-6460

Jelson Garcia (US): +1-202-802-2995

All India Union of Forest Working People

Invites you to Programme on

Women's Resistance Movement against Violence

Programme to commemorate the 60th birthday of

Comrade Bharati RoyChoudhury

27&28th October – Saharnpur, U.P.

29th October – Gandhi Smriti Darshan Samiti, New Delhi

Comrades! The resistance movement against violence spearheaded by marginalized women is gathering momentum these days. The nature of this resistance movement is the defining issue of women's movement. Presently women, especially working class women are challenging all age old forms of violence and emerging as a strong force to reckon with. Violence against women has many forms – sexual, social, economic, and political. Unfortunately, however it is only the sexual aspect of the violence which gets highlighted though violence continues on all aspects but they are very rarely highlighted. Today working class, Dalit, Adivasi, Minority community women are raising their voice and are leading movements against patriarchal, capitalist and feudal oppression. The process of women empowerment in these sections of society is on the rise. Women's participation in land and forest rights, right to livelihood, right to health and education is also continuously on the increase. And for this reason a revolutionary change can be seen in contemprary women's movement.

In Bundelkhand, Kaimur and Terai areas of Uttar Pradesh there has been  strengthening of the landless women's movement for land rights in the last two decades. The struggle for land rights by the landless has been an old struggle which had been going on strongly from the British period till the 70s. In Post 80s such struggles weakened and most progressive sections resigned themselves to the fact that issue of land rights and land reforms had lost momentum. The 90s saw the beginning of capitalist liberalization with structural reform processes and programmes and the issue of land rights and land reforms disappeared from the political horizon. Peasant movements also got limited to articulating demands for the big and medium peasants. Even the mainstream left parties abandoned land reform movements. The era of capitalist liberalization saw the conditions of landless and poor peasants deteriorate even further. What was worse was that the very issue of land rights and land reforms vanished from the political horizon. However, in these bleak situations, in the beginning years of this century, women from the poor and landless sections of society exhibited an unforeseen awakening and brought back the demand for land rights and land reforms into the political horizon very strongly. Women from these sections developed this understanding that without land in their possession they could not ascertain their economic stability, dignity or their children's future. These women did not look at land as commodity but as a source of their livelihood and because they did not look at land in property terms, this struggle for land rights has continued to grow and gather momentum.

It must be remembered that these women came primarily from the landless and poor peasant sections of Adivasi, Dalit and other backward or marginalized sections of society. They evolved as a force protesting against many so called "development" projects and schemes and fighting for a "life of dignity". Urban working women also came up very strongly against injustice and for development rights. And thus this emerging women's power made a strong impact and intervention in the political sphere. Even election equations were affected as the new generation of this section notice of this new socio-political factor. Entrenched political forces, formations and parties had to take notice of this emerging socio-political force and were quite helpless in front of this new political force and bowed down to it. And it was because of this reason that governments had to take serious notice of women's voice and political will, especially those of the landless, marginalized sections and legislate such path breaking acts like MGNREGA, Forest Rights Act, Social Security Act, Domestic violence against women etc. It must be recalled that all these Acts had special provisions for women and the Forest Rights Act, for the first time, granted equal individual and community rights to women over natural resources. Never before had the revenue laws of the country such provisions for women. But still even after 7 years these Acts are not implemented effectively because of lack of political will for change.

It is however important to realize that the movements and struggles of Adivasi, Dalit and other marginalized sections of women have had to face many social, political, economic oppression and opposition. Indian society is primarily feudal, patriarchal and capitalist and the women's movement had to counter all these forces to emerge as a political force. Their road was never easy and they had to face different types of suppressions, oppressions and violence. Wider society did not have much idea or information about this empowerment of the marginalized women as such movements and struggles did not become newspaper headlines and neither has there been any meaningful research in to the same. Discussions on violence against women remained confined to middle class urban women. And what is sad is that mainstream women's movements did not give any recognition to this struggle of the poor and marginalized sections of women. The poor and the marginalized women are just looked upon as victims. History is however witness to the fact that in the advanced western countries it was the struggle of the poor and exploited sections of women which was the precursor of independent women's movement as it emerged in the twentieth century. In countries like India with deep rooted casteism and dominance of eminent domain, the struggles and movements of Adivasi, Dalit and other backward and marginalized sections of women never had any recognition. But it is this movement and struggle which is posing a strong challenge to capitalist globalization, feudalism and patriarchy and demanding basic changes to the very structure of society and governance. It is critically important to recognize and understand this force as it is signaling towards a revolutionary change.

It is in this context that we are organizing a discussion on "Women's Resistance Movement against Violence" which intends to open up discussions around this whole issue. This discussion would be organized in memory of our beloved comrade Bharati Roy Choudhury on her 60th birthday and would be a true tribute to her. She was associated with the struggle of the marginalized women and played a very important and leading role in this movement.

On the occasion of her 60th birthday All India Union of Forest Working People would be organizing a few programmes in which women community leaders playing leading roles in the forest and land rights movement in Uttar Pradesh, Bihar, Jharkhand would be participating. It needs to be emphasized that these women have been fighting for over a decade against all odds to protect the collective and community rights they have won and this has given them an identity of their own. Progressive women's organizations from Delhi would also participate.

A two day programme would be organized in village Nagal Mafi, Saharanpur , U.P. on 27th & 28th October.

A day long discussion session would be organized in Gandhi Smriti and Darshan Samiti  premises, New Delhi on 29th October.

Warm Regards

Jarjum Ete                                                                            Ashok Chowdhury

                                                                                              

(President)                                                                            ( General Secretary)


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