Citizens' Issues
Home ministry refuses to reveal names recommended for Padma Awards 2013

Till three years back, MHA was revealing names of all recommended persons for Padma awards together with names of recommending persons or bodies under RTI. But this year it has refused to reveal names of those recommended for Padma Awards 2013. What it is trying to hide?

Amid reports that yesteryear's superstar Rajesh Khanna may conferred the country’s second highest civilian award Padma Vibhushan, it has not come to light that the ministry of home affairs (MHA) is shrinking transparency year after year about selection-procedure of these awards.

 

According to a reply received by Subhash Chandra Agrawal under the Right to Information (RTI) Act, this year the MHA has refused to reveal names of those recommended for the Padma awards. “Till three years back, the MHA had a healthy practice of revealing names of all recommended persons for the Padma awards together with names of recommending persons/bodies under RTI queries. Thereafter the ministry discontinued practice of recommending persons,” the RTI activist said.

 

Apart from Khanna, who passed away on 18th July, renowned filmmaker of ‘Sholay’ fame Ramesh Sippy is likely to be given Padma Shri on the eve of Republic Day this month, official sources told PTI.

 

On 26th December, a high level committee, which includes cabinet secretary Ajit Seth, principal secretary to prime minister Pulok Chatterjee, Union home secretary RK Singh, actor Ratna Pathak Shah, scientist Anil Kakodkar, shortlisted the names of this year’s Padma awardees at its meeting.

 

The names of awardees will be declared on 25 January 2013 after the approval from prime minister Manmohan Singh. Names of Khanna and Sippy were recommended by the ministry of information and broadcasting, sources said.

 

Here are the points for which RTI Activist Agrawal sought information and the reply provided by Central Public Information Officer (CPIO)...

 

1. Last date of receipt of nominations for Padma Awards 2013?

CPIO: Last date for receipt of nominations for Padma Awards 2013 was 20 November 2012

2. Last date of receipt of nominations for Padma Awards 2012?

CPIO: Last date for receipt of nominations for Padma Awards 2013 was 20 November 2011

3. Was there some change in last date for receipt of nominations for Padma Awards 2013 from earlier years including in the year 2012?

CPIO: No

4. If yes, copies of file-notings/documents/correspondence etc on changing last date for receipt of nominations for Padma Awards 2013 from that in earlier years

CPIO: In view of point 3 above, does not arise

5. Are some more changes made in respect of deciding Padma Awards for 2013?

CPIO: No

6. If yes, please provide details together with related file-notings/documents/correspondence etc on making such changes

CPIO: In view of point 5 above, does not arise

7. Is it true that some objections were received at MHA against Padma Awards awarded to certain individuals in the year 2012 also because of non-competence of concerned persons for Padma Awards like also including Arun Firodia who was a wilful defaulter in case of borrowings made from banks as also referred in my RTI application dated 13.08.2012 (wrongly written as 13.03.2012?)

8. If yes, complete information together with related file-notings/ documents/ correspondence etc on remedial steps take to prevent undeserving elements being awarded with Padma Awards?

9. If yes, complete information together with related correspondence

CPIO: (Point 7 to 9) Some objections have been received on conferment of Padma Shri on Shri Arun Firodia. No consolidated report is maintained by this ministry. No action is taken/ proposed to change the Padma Awards procedure on basis of complaints/objections against Padma awards to individuals. (Read Should a wilful defaulter be awarded “Padma Shri” by the government?)

10. Complete list of nominations for Padma Awards 2013 having reached to Union home ministry by the stipulated last date of receiving such nominations also mentioning names of those recommending such nominations, authority through which MHA received such nominations and dates on which such nominations reached separately to recommending authorities and to MHA.

11. Names of members of 'Search Committee' formed to recommend for Padma Awards 2013.

12. Names considered by “Search Committee” for being recommended before Awards Committee for Padma Awards 2013.

13. Names of nominees recommended by “Search Committee” for Padma Awards 2013.

14. Days and time duration on which “Search Committee” met to finalise nominations.

15. Minutes of meetings held by the “Search Committee”.

CPIO: (Points 10 to 15) The procedure for selection of Padma Awards 2013 is under process. Hence the information sought cannot be provided at this stage.

16. Any other related details.

CPIO: Nil.

17. File notings on movement of this RTI petition as well.

CPIO: Relevant file noting comprises one page. Applicant is requested to submit a fee of Rs2 @ Rs2 per page as photocopying charge in favour of the Accounts Officer, MHA.

 

Not satisfied with the reply, Mr Agrawal on 22 December 2012 filed first appeal with the Appellate Authority. He said, “…Rather names of recommended ones and of those recommending should be put on website (by the MHA) so that members of public knowing adverse features of recommended persons may inform the authorities. Likewise public should also know names persons recommending such undeserving recommended personalities. Complete process of selection of Padma awardees including minutes of meetings of Search and Award committees should be put on the website after 26th January."   

 

Coming back to Rajesh Khanna, also a Congress MP from New Delhi constituency from 1992 to 1996, he was never given the Padma award in his lifetime, whereas most of his contemporaries, including Dharmendra, Dev Anand, Shashi Kapoor, Amitabh Bachchan, Dilip Kumar, Hema Malini and Waheeda Rehman, had got one or the other category of Padma awards over the years.

 

Similarly, producer-director Sippy (65), too, would be a late entrant of the Padma hall of fame, if the government finally selects him for this award. Many producers and directors of his generation have been conferred with the Padma awards through the years.

User

COMMENTS

MAZUMDAR

4 years ago

About Padma awards ,similar reply was received by me from MHA-GOI
who are maintaining secrecy unnecessarily.
I am happy that they are ready to part with file notings atleast at a later stage.Earlier they said that "there are no remarks ,
notings , comments for awarding or refusing Padma awards.
I only wish those who really deserve get them and there is no lobbying.

MAZUMDAR-Sscunderabad.

HSBC Managed Solutions: Avoid it

Hybrid schemes investing in gold have not performed well in the past for obvious reasons. And the fund management at HSBC Mutual Fund has been particularly bad

HSBC Mutual Fund plans to launch an open-ended fund of funds scheme—HSBC Managed Solutions India. The scheme would have three different plans, all three of which will invest in a hybrid portfolio of stocks. The growth plan would take on high risk and invest in a portfolio with a high allocation to equity schemes (for details on asset allocation, see table). The remaining part of the portfolio will be spread across debt schemes, gold ETFs (Exchange Traded Funds) and units of overseas schemes. The balanced plan would have a lower allocation to equity schemes and the investment in debt schemes would increase to a maximum of 60%. Here again the scheme would invest a part of it portfolio in gold ETFs and overseas schemes.
 

The conservative plan, as the name suggests, would invest only up to a maximum of 20% in equity schemes, the debt portion would range from 70%-100%. The scheme would also invest up to a maximum of 10% in gold ETFs. We have done an analysis on hybrid schemes in the past and the results have shown that such schemes have not put up a great performance in the past. Not only this, HSBC as a fund house has a poor performance track record.

 

Plan

Asset Allocation

Minimum

Maximum

Managed
Solutions India –
Growth

Equity Schemes

30%

90%

Debt Schemes & Money Market instruments

10%

35%

Gold Exchange Traded Funds

0%

10%

Units of Overseas Funds

0%

25%

Managed
Solutions India –
Balanced

Equity Schemes

10%

70%

Debt Schemes & Money Market instruments

30%

60%

Gold Exchange Traded Funds

0%

10%

Units of Overseas Funds

0%

20%

Managed
Solutions India –
Conservative

Equity Schemes

0%

20%

Debt Schemes & Money Market instruments

70%

100%

Gold Exchange Traded Funds

0%

10%

 

Last year we had shown that schemes which had an allocation to equity, debt and gold have performed poorly. (Read: Hybrid Funds: Adding gold did not help). Just half of them were able to outperform their composite benchmark. Having gold as an investment is risky, apart from which investors have to decide how much they can put in such a fund and how much returns it is expected to generate. Too many complex and global factors influence the price of gold. During a period of economic prosperity, gold can go down quite a bit in a continuous fashion. Yet there are many fund houses which have filed offer documents to launch more of such schemes.
 

Schemes of HSBC Mutual Fund have regularly come up in our performance analysis of equity schemes for all the wrong reasons. Some of its schemes have performed poorly in the last few years. In the past one year when the Sensex rallied by over 20%, three of its five schemes—HSBC India Opportunities Fund, HSBC Equity Fund and HSBC Dynamic Fund underperformed not only the category average but their respective benchmarks as well. The schemes returned an annualised monthly mean of 20.67%, 20.14% and 19.01% compared to their benchmarks that returned over 24%. The only schemes that marginally outperformed the benchmark were the mid-cap and small-cap schemes—HSBC Midcap Equity Fund and HSBC Small Cap Fund with an annualised monthly mean return of 35.14% and 32.86% compared to the benchmark returns of 28.51% and 25.68% respectively.

 

Other details of the scheme:
 

Benchmark
 

Growth plan: Composite Index constituting 80% of BSE 200 Index and 20% of CRISIL Composite Bond Index.
 

Balanced plan: CRISIL Balanced Fund Index.
 

Conservative plan: Composite Index constituting of 90% into CRISIL Composite Bond Index and 10% of BSE 200 Index.
 

Entry and Exit Load: Nil.
 

To read mutual fund analysis on Moneylife, please click here.

User

Sensex, Nifty breaks out: Wednesday Closing Report

As was tentatively suggested last week, the market broke out to a new short-term high. Will the gains be sustained?

The resolution of the US “fiscal cliff” enabled the Indian market closing in the green for the second day. The rally saw the Nifty hitting an intraday high of 6,006, its best since 7 January 2011 and the Sensex scaling a high of 19,757, its best since 6 April 2011. As was tentatively suggested last week, the market broke out to a new short-term high. But the question remains whether the gains be sustained. The National Stock Exchange (NSE) reported a volume of 75.67 crore shares and advance-decline ratio of 1107:643.

 

The market opened on a strong note tracking its Asian peers which were in the positive in morning trade as the House of Representatives late Tuesday night passed the “fiscal cliff” bill by 257 to 167 votes, ending a dramatic New Year's Day showdown over income taxes and deep federal spending cuts.

 

The Nifty opened 32 points up at 5,983 and the Sensex started off at 19,693, a gain of 112 points over its previous close. After inching higher in initial trade, the benchmarks witnessed a minor bout of profit taking, which led the market to its intraday low. At the lows, the Nifty fell to 5,982 and the Sensex slipped to 19,687.

 

Brushing aside the initial hiccups, all-round buying led the benchmarks higher in morning trade. The gains were also supported by news that India’s manufacturing sector growth for December 2012 improved to 54.7 in December, up from 53.7 in November, registering the fastest pace in six months. The upmove helped the market hit its intraday high in noon trade. At the highs, the Nifty scaled 6,006 and the Sensex climbed to 19,757.

 

The indices pared a small part of their gains in subsequent trade and were seen moving sideways in the post-noon session. A positive opening of the key European markets kept the local market in the green till the end of the trading session.

 

The market closed in the positive for the second day in a row. The Nifty closed 42 points (0.71%) to 5,993 and the Sensex climbed 133 points (0.68%) to finish trade at 19,714.

 

Among the broader indices, the BSE Mid-cap index climbed 0.56% and the BSE Small-cap index surged 0.90%.

 

The top sectoral gainers were BSE Consumer Durables (up 1.65%); BSE Capital Goods (up 1.40%); BSE Oil & Gas (up 1.29%); BSE PSU (up 1.02%) and BSE Bankex (up 0.96%). BSE Fast Moving Consumer Goods (down 0.26%) and BSE IT (down 0.07%) were the only losers in the sectoral space.

 

Twenty three of the 30 stocks on the Sensex closed in the positive. The chief gainers were Bajaj Auto (up 3.07%); Maruti Suzuki (up 2.74%); ONGC (up 2.50%); BHEL (up 2.38%) and Sterlite Industries (up 2.19%). The main losers were Wipro (down 0.78%); ITC (down 0.61%); Mahindra & Mahindra (down 0.44%); Coal India (down 0.35%) and Hindustan Unilever (down 0.14%).

 

The top two A Group gainers on the BSE were—Gitanjali Gems (up 8.09%) and Videocon Industries (up 6.47%).

The top two A Group losers on the BSE were—Torrent Power (down 1.99%) and Colgate Palmolive (down 1.90%).

 

The top two B Group gainers on the BSE were—Aarya Global Shares & Securities (up 20%) and Ankit Metal & Power (up 20%).

The top two B Group losers on the BSE were—ArunJyoti Enterprises (down 9.93%) and Arcee Industries (down 9.72%.

 

Out of the 50 stocks listed on the Nifty, 35 stocks settled in the positive. The main gainers were Bajaj Auto (up 3.66%); Jaiprakash Associates (up 3.40%); Maruti Suzuki (up 3.28%); BPCL (up 3.14%) and IDFC (up 3.08%). The top losers were Asian Paints (down 0.97%); Bharti Airtel (down 0.65%); ITC (down 0.59%); M&M (down 0.54%) and Wipro (down 0.48%).

 

Markets across Asia closed mostly in the green on optimism from the US, ending weeks of uncertainty over the “fiscal cliff”. The uptick in the Chinese official purchase managers’ index for December, a sign of a pick up in growth, also supported the sentiments.

 

The Hang Seng jumped 2.89%; the Jakarta Composite gained 0.69%; the Straits Times surged 1.09%; the Seoul Composite climbed 1.71% and the Taiwan Weighted advanced 1.04%.  Bucking the trend, the KLSE Composite declined 0.84%. Markets in China and Japan were closed for trade today.

 

At the time of writing, the CAC 40 of France was trading 2.02% higher, the DAX of Germany surged 1.97% and UK’s FTSE 100 climbed 1.86%. At the same time, the US stock futures were trading with good gains, indicating a positive opening for US stocks.

 

Back home, foreign institutional investors were net buyers of shares totalling Rs665.04 crore on Tuesday while domestic institutional investors were net sellers of stocks aggregating Rs406.14 crore.

 

Emco today said it has got Rs458-crore orders from Power Grid Corporation for execution of a transmission line from Champa to Kurukshetra. The transmission line would be designed to carry 6,000 MW power from generating stations in Chhattisgarh to the Northern Grid. Emco jumped 6.94% to settle at Rs33.90 no the NSE.

 

Reliance Power today said it has synchronised the second 300 MW unit at Butibori thermal power plant in Maharashtra, taking the company's total operating capacity to 1,840 MW. The Butibori project, located near Nagpur, has a total capacity of 600 MW. The first 300 MW unit achieved full load in August last year. The stock gained 1% to close at Rs95.75 on the NSE.

 

L&T Finance Holdings on Tuesday said it has completed the acquisition of auto finance company Family Credit Ltd for Rs120 crore. Family Credit, which was a subsidiary of Societe Generale Consumer Finance, has presence across two-wheeler and auto financing, L&T Finance Holdings said in a filing on the BSE. L&T Finance Holdings closed 0.43% lower at Rs92.80 on the NSE.

User

COMMENTS

snehakamath

4 years ago

In the next few weeks there areonly positive news anticipated.
There is excess liquidity thanks to Japan joining the bandwagon of USA & Europe
It is really rewarding to those who can dare and act now.
GMR,GVKPIL,LITL,Adani,Gati, MRPL,M&M,Tata motors,Tata steel, Voltas, SAIL, GMDC, Infy ,Wipro,Petronet LNG, Indraprasta Gas............The list is endless which can easily give 25% to 30% returns at current prices.Rewards outweigh the risks in these shares

Even banks like SBIN,Canara bank, Andhra bank, Bank of baroda can still give easily +10% return despite having appreciated in the last 5 weeks

snehakamath

4 years ago

In the next few weeks there areonly positive news anticipated.
There is excess liquidity thanks to Japan joining the bandwagon of USA & Europe
It is really rewarding to those who can dare and act now.
GMR,GVLPIL,LITL,Adani,Gati, MRPL,M&M,Tata motors,Tata steel, Voltas, SAIL, GMDC, Infy ,Wipro,Petronet LNG, Indraprasta Gas............The list is endless which can easily give 25% to 30% returns easily

Even banks like SBIN,Canara bank, Andhra bank, Bank of baroda can still give easily +10% return despite having appreciated in the last 4=5 weeks

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