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AAP tears into Centre's notification, right to impeach LG sought

AAP tears into Centre's notification, right to impeach LG sought 

 

A resolution against the Centre's decree giving Lt. Governor Najeeb Jung the final say in transfers and postings of bureaucrats was moved on Tuesday in the Delhi assembly while an AAP lawmaker demanded that state legislatures should have the power to impeach governors.
 
Buoyed by the Delhi High Court's observation that the lt. governor must act on the advice of the council of ministers, Aam Aadmi Party legislators took turns to criticise the Narendra Modi government's order giving Lt. Governor Najeeb Jung the final say in matters pertaining to services, police, law and order.
 
The May 21 notification had also stripped Delhi's Anti Corruption Branch of its power to act against central government employees.
 
On the first day of the two-day special session of the assembly called by the Arvind Kejriwal-led AAP government to discuss the home ministry's notification, Deputy Chief Minister Manish Sisodia moved the resolution, saying the Centre had encroached upon the rights of the Delhi assembly.
 
"It (notification) is encroachment on the rights of the legislative assembly of Delhi. They (central government) have tried to dilute the spirit of the Constitution," Sisodia told the assembly.
 
He said the BJP-led government at the Centre was "unconstitutionally trying to impose President's Rule in Delhi".
 
"This government has taken corruption head-on and achieved unprecedented success. The Centre is trying to thwart Delhi government's attempts," Sisodia added.
 
Taking the tussle with Jung a notch higher, AAP legislator Adarsh Shashtri demanded that a resolution be passed in the assembly to amend the Constitution to enable state legislatures to impeach governors and Lt. Governors.
 
"We should pass a resolution asking parliament to review the recommendations of the Sarkaria Commission and the articles 155 and 156 of the Constitution to allow state legislatures to have the power to impeach governors and Lt. Governors," Shastri said.
 
AAP lawmaker Somnath Bharti moved a private member's resolution against the union home ministry's notification. The house will take up the resolution on Wednesday and it is likely to be passed.
 
The resolution moved by Bharti contended that the May 21 central notification was "contrary to and violative of the provisions of the Constitution of India".
 
"This house finds this act of the ministry of home affairs as an attempt on the part of the central government to encroach upon the legislative powers of this august house conferred by the Constitution."
 
The notification was issued following the ongoing tussle between the AAP government and Lt. Governor Jung over the appointment and transfer of bureaucrats. Both also approached President Pranab Mukherjee to seek his intervention for a resolution of the issue.
 
Meanwhile, BJP member O.P. Sharma was marshalled out of the assembly after he made critical remarks against Speaker Ram Niwas Goel.
 

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Over 70 percent of Everest glacier's volume may be lost by 2100: Study

It is a first approximation to how the Himalayan glaciers will react to increasing temperatures in the region

 

Over 70 percent of the glacier volume in the Mount Everest region in the Himalayas could be lost in 85 years if greenhouse gas emissions continue to rise, a new paper suggests. It also indicates more flood risk in the future in the Kosi river downstream from Nepal to India.
 
The paper, "Modelling glacier change in the Everest region, Nepal Himalaya", published on Wednesday in The Cryosphere, a journal of the European Geosciences Union (EGU), said the glacier volume could be reduced between 70 and 99 percent by 2100.
 
It is a first approximation to how the Himalayan glaciers will react to increasing temperatures in the region. The results depend on how much greenhouse gas emissions continue to rise and on how this will affect temperature, snowfall and rainfall in the area.
 
A team of researchers from Nepal, France and the Netherlands have found the Everest glaciers could be very sensitive to future warming and that sustained ice loss through the 21st century is likely.
 
If greenhouse gas emissions continue to rise, the glaciers could experience dramatic change in the decades to come, said the study.
 
"The signal of future glacier change in the region is clear: continued and possibly accelerated mass loss from glaciers is likely given the projected increase in temperatures," said Joseph Shea, a glacier hydrologist at the International Centre for Integrated Mountain Development (ICIMOD) in Kathmandu.
 
"Our results indicate that these glaciers may be highly sensitive to changes in temperature and that increases in precipitation are not enough to offset the increased melt," Shea said.
 
Increased temperatures will not only increase the rates of snow and ice melt but can also result in a change of precipitation from snow to rain at critical elevations, where glaciers are concentrated. Together, these act to reduce glacier growth and increase the area exposed to melt, said the leader of the study.
 
The researchers studied glaciers in the Dudh Kosi basin in the Nepal Himalayas, which are home to some of the world's highest mountain peaks, including Mt Everest, and to over 400 sq km of glacier area.
 
"Apart from the significance of the region, glaciers in the Dudh Kosi basin contribute meltwater to the Kosi river, and glacier changes will affect river flows downstream," Shea said.
 
Changes in glacier volume can impact the availability of water, with consequences for agriculture and hydropower generation.
 
While increased glacier melt initially increases water flows, ongoing retreat leads to reduced meltwater from the glaciers during the warmer months, with greatest impact for the local populations before the monsoon when rainfall is scarce, said the paper.
 
Glacier retreat can also result in the formation and growth of lakes dammed by glacial debris. Avalanches and earthquakes can breach the dams, causing catastrophic floods that can result in river flows 100 times greater than normal in the Kosi basin.
 
The Kosi river is known as the "sorrow of Bihar" as it has caused widespread damage in the past due to flooding and frequent change in its course.
 
To find out how glaciers in the region will evolve in the future, the researchers started by using field observations and data from local weather stations to calibrate and test a model of glacier change over the past 50 years.
 
"To examine the sensitivity of modelled glaciers to future climate change, we applied eight temperature and precipitation scenarios to the historical temperature and precipitation data and tracked how glacier areas and volumes responded," said study co-author Walter Immerzeel of Utrecht University in the Netherlands.
 
"Our estimates need to be taken very cautiously, as considerable uncertainties remain," said Patrick Wagnon, a glaciologist at the L'Institut de Recherche pour le Developpement in Grenoble in France.
 
The paper stresses that "the signal of future glacier change in the region is clear and compelling" and that decreases in ice thickness and extent are expected for "even the most conservative climate change scenario".

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Nifty, Sensex weak. Bank Nifty struggling – Tuesday closing report
Nifty will turn higher, it can stay above 8,300, while Bank Nifty is in a no-man’s land
 
We had mentioned in Monday’s closing report that if the NSE’s CNX Nifty closes below 8,320 it will turn weaker. On Tuesday, except for the time when it hit its intra- day high, the 50-stock benchmark moved in the red for remaining session. Nifty reached exactly the break point mentioned above and closed marginally above it.
 
S&P BSE Sensex opened at 27,634 while Nifty opened at 8,377. Both the benchmark indices moved from the high of 27,676 and 8,379 to the low of 27,474 and 8,320, respectively. Sensex closed at 27,531 (down 112 points or 0.41%) while Nifty closed at 8,339 (down 31 points or 0.37%). Today although the Bank Nifty moved in the red for most of the session, during last few minutes, the index gained momentum and closed in the green. It opened at 18,339 and moved in the range of 18,226 and 18,378 and closed at 18,329 (up 4 points or 0.02%). NSE recorded a volume of 65.87 crore shares. India VIX rose 0.80% to close at 17.0675.
 
Reserve Bank of India (RBI) Governor Dr Raghuram Rajan had said that while the country’s macro-economic parameters have improved, growth was still slow in picking up. Meanwhile, finance Minister Arun Jaitley said India has to bring the tax rate to global level while at the same time remove the exemptions.
 
The Ministry of Labour & Employment Tuesday announced that the government has decided to constitute an inter-ministerial committee to hold threadbare discussions with representatives of Central Trade Unions on 10-point charter of demands and other issues being raised by them and for recommending measures to address those issues.
 
Government expects inflation to remain under control as it has adequate stocks to deal with shortage of foodgrain in the eventuality of poor monsoon, Chief Economic Advisor Arvind Subramanian said today.
 
The RBI has room to further ease its monetary policy, he told reporters.
 
A slowdown in exports is likely to bring down India's growth rate by 0.4% point in 2015, a report by global brokerage firm HSBC has said.
 
Retail investors' holding in NSE-listed companies has hit a 6-year high of 21.35% at the end of March 2015, with a valuation of nearly Rs8 lakh crore, from 20.99% on March 2014, according to Prime Database, the holding went up to 21.35% at the end of March 2015. 
 
In other words, the market valuation (in terms of Nifty-50 market cap over the period) is up by 25.79%. At the end of March 2015 the Nifty was up by 26.65% since March 2014 which means retail investors have actually reduced their holdings.
 
Coming back to stock markets, Dish TV rose 14.21% to close at Rs96.85 on the BSE. The stock hit it 52-week high after it posted superb March 2015 quarter results. It was the top gainer in ‘A’ group on the BSE. It posted a net profit of Rs35.01 crore for the March 2015 quarter as compared to net loss of Rs149.05 crore for March 2014 quarter. Its revenues increased from Rs636.91 crore to Rs754.72 crore for the relevant period.
 
PMC Fincorp fell 8.13% to close at Rs11.30 on the BSE. It was the top loser in ‘A’ group on the BSE. It hit its new 52-week low today.
 
BHEL rose 2.88% to close at Rs241 on the BSE, in spite of posting a weak March 2015 quarter. It was the top gainer in the Sensex 30 pack while Vedanta today again was the top loser in the pack. It fell 2.33% to close at Rs195.35. 
 
US stock markets were closed Monday for the Memorial Day Holiday. 
 
Federal Reserve Vice Chairman Stanley Fischer said yesterday that the central bank expects to follow a gradual and relatively slow trajectory of short-term interest-rate increases over the next three to four years to bring borrowing costs back to normal levels.
 
Most of the Asian indices closed in the green. Shanghai Composite (2.02%) was the top gainer while SET Composite index (0.67%) was the top loser.
 
There were news that China plans to launch in July a mutual-fund recognition program between Hong Kong and mainland China, which will allow cross-border sales of funds between the two markets.
 
European indices were trading in the red. US Futures were trading marginally lower.
In Europe, a Greek government spokesperson reportedly said that Greece intends to keep repaying its debt. Greece is scheduled to repay euro 1.6 billion ($1.76 billion) to the IMF between 5 June and 19 June 2015.
 

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