Citizens' Issues
How to reaffirm age-old ties between India and Sri Lanka

PM Modi should offer the very best of terms that Sri Lanka would be happy with so that there is mutual trust, confidence and create conditions to ensure our age-old traditional relations, which are above petty politics

 

Prime Minister Narendra Modi will be visiting Sri Lanka on 13th and 14 March 2015, responding to the invitation of President Maithripala Sirisena, who made his first overseas visit to India to meet the Indian leaders.  Modi will be the first Indian Prime Minister, in 24 years, to visit this beautiful island nation.  He is expected to make short visits to other two neighbours, Mauritius and Seychelles during this trip.
 
It may be recalled that President Sirisena visited to reaffirm Sri Lanka's desire to maintain close relations with India. His trip also tried to ensure that there are no misunderstandings that former President Mahindra Rajapaksa's tilt towards China may have caused in the minds of the Indian populace. President Sirisena is expected to visit China over the next few weeks and indications are that he would maintain cordial relations with them as well. Such a move will strengthen the relations with all concerned.
 
During his brief visit, there are chances that the Indian PM may be invited to address the Sri Lankan Parliament.  If this is done, it is expected that PM Modi will offer India's hand of friendship in every conceivable way and offer all assistance that Sri Lanka may need in its development. Trade and investment are expected to be important issues that will be discussed in great detail.
 
PM Modi, in his tight schedule, will officially hand over some 20,000 homes built by India in the Northern Province.  In doing so, he will be the first Indian prime minister to visit both Jaffna and Talaimannar, where he is expected to commission a railway line. He is scheduled to open a cultural centre at Jaffna also.
 
In the past, there has been speculation about Indian concerns with regard to the implementation of the 13th Amendment and rehabilitation of Tamil refugees in the bilateral talks with Sri Lankan leaders. It is best that PM Modi leaves this issue out of his agenda and treats it as a totally internal problem of the Sri Lankan Tamil population with their own elected government.
 
There have been talks of fishing rights and mishaps that involve fishermen from both sides violating each other’s fishing areas. These squabbles are left to the wisdom of the fishing folks themselves, instead of governments getting into the fray. All these issues can and should be resolved peacefully, and not by force, by any third party.
 
In so far as the attempt by China to secure business from Sri Lanka, this ought to be considered as a business attempt by an interested party, rather than making it an issue for political discussion. If anything, PM Modi should offer the very best of terms that Sri Lanka would be happy with so that there is mutual trust, confidence and create conditions that will ensure our age-old traditional relations, which are above petty politics. No doubt, President Sirisena will also be understanding and accommodative in dealing with such prickly issues. It is just as much in their interests to keep China at bay.
 
(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US.)
 

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NSEL publishes book to clear air over Rs5,600 crore payment crisis

In a two-volume book, NSEL says the series of action that have been taken against the company, FTIL and their directors are far beyond the legal

 

Facing a barrage of problems on several fronts, scam-hit National Spot Exchange Ltd (NSEL) has launched a massive media outreach explaining the circumstances leading to the Rs5,600-crore payment crisis as well as how it has been “singled out” and no action has been taken against the real culprits.
 
Seeking a “fair chance” to explain its stand, NSEL in a two-volume book titled ‘Truth about NSEL’ attempts to clear the air around its promoter Financial Technologies India Ltd (FTIL), and how its new board is attempting to recover and rebuild the exchange.
 
The books explain the NSEL's point of view on various aspects of the crisis that surfaced in end July 2013.
 
“Many a version of the saga has been floated and is doing the rounds in all forms of media. In most of the stories, the villainy has been laid on NSEL, FTIL, and on the promoters of FTIL. An impression, which is far from the truth, is being created to our own dismay,” said NSEL Joint Managing Director Prakash Chaturvedi in a covering letter issued along with the book.
 
Stating that the NSEL crisis was used as an opportunity and excuse to kill the group, he said, “The series of action that have been taken against NSEL, FTIL and their directors are far beyond the legal. The decisions appear motivated to single out NSEL and FTIL.
 
“Simultaneously, little or no action has been taken against the real collective forces responsible for creating this force majeure accident,” he said.
 
While NSEL on its part has been concentrating on making recoveries from defaulting members, Chaturvedi said, “This unfortunately is being interpreted as its weakness and NSEL, therefore, has decided to reveal the facts for the consumption of all the important opinion and decision makers in the country.”
 
The NSEL unfortunately has been “prey to a conspiracy carefully crafted by an unholy alliance of market competitors, some bureaucrats, and their political masters,” he said.
 
He also said “the crisis was engineered by fuelling the market with the objective of first contriving a settlement default and then disallowing a calibrated shutdown, which culminated in a payment crisis for the exchange.”
 
While explaining who benefited from the crisis, NSEL in the book said: “Only the egos of a couple of officials who were keen to destroy the group... Can India afford such officials who could undermine national interest? ”
 
The book also said that NSEL’s parent company FTIL suffered the most from the crisis.
 
“Not only injustice was meted to FTIL but added to it are other painful measures such as the hurry to declare promoters not ‘fit and proper’, the vilification campaign, unverified rumours, which have pushed the group into a corner grasping for a little justice,” the book added. 
 

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February car sales up 6.85%, bikes decline 8.22%

Domestic passenger car sales grew 6.85% to 1.72 lakh units, while motorcycle sales fell 8.22% to 7.74 lakh units during February

 

Passenger car sales in India grew 6.85% to 1.72 lakh units during February compared with 1.60 lakh units in the same month of 2014.
 
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), February motorcycle sales fell 8.22% to 7.74 lakh units from 8.43 lakh units, a year ago.
 
Total two-wheeler sales in February 2015 declined 1% to 12.1 lakh units from 12.20 lakh units compared with same month last year.
 
According to SIAM, total sales of commercial vehicles during February increased 10.1% to 52,843 units from 47,982 units in the year-ago period.
 
Total sale of vehicles across categories registered a growth of 0.15% to 15.26 lakh units in February 2015 as against 15.24 lakh units in the same month last year, SIAM added.
 

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COMMENTS

vishal

2 years ago

More people are able to buy cars now for two reason the declining price of petrol and car loans are more easily available now. But parking a car is a problem for people with out a car parking area inside their house. Many people started using the footpath outside their house for this purpose not bothering the inconvenience to others. Driving a two wheeler is becoming like driving a cycle in a busy road now a days involving accidents.

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