Citizens' Issues
Accidents cost India Rs.1.7 lakh crore losses annually
Kolkata : India loses $35 billion each year in road accidents, which is slightly less than the nation's defence budget, a road safety expert said here on Thursday.
 
According to Kamaljit Soi, member of the National Road Safety Council of the ministry of road transport and highways, India is "losing a little less" than its defence budget each year on road accidents.
 
"This is about Rs.1 lakh 70,000 crore in road accidents every year. Human life has become very cheap," Soi told the media here.
 
Emphasising the gravity of the situation, he said: "65 percent of the people who are causing accidents are illiterate. Number of deaths is more in the 15 to 44 age group."
 
Queried on the Kolkata hit-and-run case in which an Indian Air Force officer was killed during the Republic Day Parade rehearsal, and subsequent arrest of prime accused Sambia Sohrab, whose father was a leader of West Bengal's ruling Trinamool Congress, Soi said it's a "good step if action has been initiated in the matter."
 
"Nobody is above the law," Soi, who is also the chairman of Raahat (The Safe Community Foundation), asserted.
 
In the same vein, he said the Bombay High Court ruling in the Salman Khan hit-and-run case, in which he was acquitted, was a "bad example" for the nation.
 
"Everybody should be treated in the same manner. I had vehemently opposed this during the time," he added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

MG Warrier

9 months ago

We talk about poverty, healthcare and other social security issues more and these are getting some attention in the media, though not enough attention from policy makers. Accidents, as they happen in isolation, affecting mostly those near and dear to those getting injured or lose lives, there is no strong lobby to campaign for measures that can prevent some of the accidents on land and in water-bodies. A case study could be that of accidents in Mumbai suburban locals. The causes can be traced to over-crowding of compartments, inadequate safety provisions and so on. While an auto-rikshaw will not be allowed to take more than 3 passengers, just imagine the number of passengers traveling in a bogie of a suburban local during peak hours. Regarding road accidents, many a time the cause is ‘less respect’ for traffic discipline. We take more care to protect comparatively richer citizens from accidents or at least give them faster, better care when they are affected by accidents.

Nippon Life stake hike in Reliance Capital Asset gets SEBI nod
Chennai : With SEBI on Thursday giving the nod for Japanese Nippon Life Insurance to hike its stakes in Reliance Capital Asset Management to 49 percent, the latter's name will be changed to Reliance Nippon Life Asset Management.
 
In a statement, Reliance Capital Asset Management said it has completed the regulatory approval process for increasing the stake of Nippon Life Insurance, a Fortune 500 company and one of the largest life insurer in the world, to 49 per cent from the current 35 percent.
 
The Japanese company will now be investing an aggregate value of Rs.1,196 crore ($184 million) to acquire an additional 14 percent stake in Reliance Capital Asset Management, in tranches.
 
The transaction pegs Reliance Capital Asset Management's valuation at Rs.8,542 crore ($1.3 billion), the highest valuation till date for any asset management company in the country.
 
"In line with the new shareholding structure, the name of the company will also be changed from Reliance Capital Asset Management to Reliance Nippon Life Asset Management. Nippon Life Insurance would also become the co-sponsor in Reliance Mutual Fund, along with Reliance Capital, post the completion of stake sale," the statement added.
 
Before the Securities and Exchange Board of India, the company has already received approval from Competition Commission of India for this stake sale.
 
"We are thankful to the regulators for granting their approvals to this stake sale and will be completing the transaction in next few days," the statement quoted Reliance Capital executive director and group CEO Sam Ghosh as saying.
 
The boards of directors of both the companies - Nippon Life Insurance and Reliance Capital Asset Management - had already approved the increase in stake by the Japanese partner, subject to regulatory approvals.
 
Reliance Capital Asset Management is the largest asset manager in India, in terms of AUM, managing Rs.2,61,424 crore ($39.6 billion) as on December 31, 2015, across mutual funds, pension funds, managed accounts and offshore funds.
 
Nippon Life Insurance had acquired 35 percent stake in Reliance Capital Asset Management in two tranches - 26 percent for Rs.1,450 crore in 2012 and 9 percent for Rs.657 crore later.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Bill to give statutory status to Aadhaar introduced in Lok Sabha
New Delhi : Despite opposition from the Congress and the Biju Janata Dal, Finance Minister Arun Jaitley on Thursday introduced the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill, 2016 in the Lok Sabha.
 
The bill to provide Aadhaar statutory backing and make it the mainstay of the government's direct benefit transfer (DBT) programme for subsidies was tabled in the house as a money bill.
 
Objecting to the presentation of the bill as a money bill, Congress leader Mallikarjun Kharge said, "Congress is ready to cooperate on the bill, but it should not come as a money bill. To avoid Rajya Sabha they are bringing this bill as a money bill."
 
Biju Janata Dal (BJD) leader Bhartruhari Mahtab also objected to the legislation and sought clarification from the minister.
 
"The bill was brought by the UPA government and then it was referred to the standing committee. Lots of recommendations were also made but I don't know the status of the bill in the Rajya Sabha. There are many contentious issues related to Aadhaar number and so the matter was also referred to the Supreme Court," he said.
 
Responding to the queries raised by the members, Jaitley said, "The bill is substantially different from what was brought by the UPA and it is up to the Speaker to decide. The substance of the bill is that whoever gets subsidies will have to produce Aadhaar."
 
The bill seeks to provide for "good governance, efficient, transparent, and targeted delivery of subsidies, benefits and services", from public funds, to the citizens through assigning of unique identity numbers to them.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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