ML sectoral trends

Shares of airlines companies advanced 5%, shares of garment companies advanced 4%, while shares of healthcare companies and transport & logistics companies ended flat. Stocks of real estate companies tanked 12%, while stocks of telecom companies and steel companies declined 10% and 9%, respectively.

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Urban Inflation

Combined inflation for urban and rural areas eased to 4.48% in November 2014 from 5.52% in October 2014, continuing the downward trend. Inflation in urban areas eased to 4.69%  from 5.63% in October. Food inflation in urban areas eased to 3.40% from 5.58% in October. Prices of vegetables in urban areas, surprisingly, declined by 15.94% year-on-year in November. Inflation related to fuel & power increased marginally to 2.74% from 2.46% in October. Inflation for housing remained steady at around 8%. Inflation for clothing declined to 5.75% and miscellaneous items declined, marginally, to 4.04%.

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Open letter to Defence Minister Parrikar from a Veteran

The 'deeply hurt, bruised and wounded conscience of ex-servicemen of India's Armed Forces', are expressing their anguish towards the bureaucracy, who they feel is responsible for the step-motherly treatment meted out to defence forces all the time

 

Cdr Ravindra Waman Pathak (Retd), a member of the Governing Body and Pension Cell of Indian Ex Servicemen Movement, wrote an open letter to Defence Minister Manohar Parrikar. In the letter, Cdr Pathak has raised several issues like the long-standing demand of ex-servicemen for ‘one rank, one pension’ (OROP).
 
In the letter Cdr Pathak has expressed deep anguish regarding the bureaucracy, which he feels is responsible for the step-motherly treatment meted out to defence forces. "It is this specially empowered bureaucracy which, without even a shred of any commensurate knowledge, over the past 67 years, has mastered and honed the craft of repeatedly hurting the pride and morale of the soldiers' right from the Chiefs to the sepoy. 'Jai Jawan' is handy only at crunch time or prior to elections, where after the Armed Forces are routinely relegated to the status of a 'necessary evil' type heavy baggage that the nation, perforce, has to be burdened with. This bureaucracy has been successful in contouring the political thought process in the same mould," he said.
 
India's defence budget is in the region of $46 billion or about Rs3 lakh crore. The OROP would cost 1.3% or Rs4,000 crore of the defence budget. China's defence budget size is $126 billion i.e. more than Rs8 lakh crore. Manpower wise, India has 13.25 lakh active military personnel and 21.43 lakh active reserves compared with China's 22.85 lakh active military personnel and 23 lakh active reserves.
 
Here is the letter sent by Cdr Pathak to the Defence Minister:
 
 

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COMMENTS

DN RAO

2 years ago

It is shocking news for me that Maj. Sandeep Unnikrishan who has sacrificed his life for the nation has been given only Rs.1 lakh as compensation. It is the shameful act on the part of the then Govt. of India for giving negligible amount as compensation to his family members. All the rules of Indian Army which were framed earlier should be scrapped and ONE RANK ONE PENSION SHOULD BE INTRODUCED immediately BY THE PRESENT GOVT. OF INDIA. By doing this, it will enhance the moral of Bharat Army i.e. I mean Indian Army.

Sreeramulu Seethepalli

2 years ago

How do we make the Raksha Mantri read it?

John Philipose

2 years ago

The biggest enemy of Good Governance in this unfortunate nation, is the Government. This is applicable to all ministries. The only way to root out this evil, once and for all, is to scrap the IAS, lock, stock & barrel. Let this nation be ruled by Technocrats-who have some knowledge of the topic on which decision needs to be made. Today's scenario - Imagine a cobbler giving you a haircut, or a Piles surgeon operating your Brain!

REPLY

K M Rao

In Reply to John Philipose 2 years ago

There is a need to revamp the administrative set up. The "steel frame" has simply failed our country. There is absolutely no hope unless the present administration system is changed from the roots. Unless something is done on this important matter, we can only construe the so called "Good Governance" is yet another empty rhetoric. What is good governance without setting right the basic flaws!

THANGAVELU

2 years ago

Ex-servicemen are getting raw deal from the very own ministry (Defence Ministry) in an unpatriotic way. It is hard fact that these decision makers never ever felt hardcore defence life, even for a day. Servicemen sacrifices goes unheard and silently make them voiceless. If this trend is not corrected by Defence Minister and Prime Minister, their morale will be down. Will this Govt stand on what they preach to practice ? Only time will tell.

Suketu Shah

2 years ago

The BJP govt needs atleast 5 yrs time to clean the mess done by congress of the last 60 yrs.Anyone expecting them to produce results in any lesser timke frame is either unrealistic or pro-congress.

SuchindranathAiyerS

2 years ago

The only cold comfort that the Armed Forces can, perhaps, look for is that they are not alone. All Indians excluded from The New Imperium created by the Nehru-Gandhi-Ambedkar dispensation of Neta-Babu-Cop-Milard-Crony Kleptocracy and those privileged to claim more resources than others by India's iniquitous Constitution vary from step children to orphans under the Indian State. However,the Armed Forces feel the pinch almost as badly, perhaps, as the former "uptrodden" whom the Republic down trod to establish the supremacy of the New Imperium. The Armed Forces have also been qualitatively stripped to ensure that they cannot defend India from its primary enemies, the ruling kleptocracy.

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