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  INSIDE THIS ISSUE
   
   
   
  01 MAIN
   
   
  02 NEWSMAKER
   
   
  03 INVESTMENT UPDATE
   
   
  04 EYE ON ECONOMY
   
   
  05 POLICY
   
   
 

06 FEATURE

   
   
  07 TRAVEL
   
   
  08 CALENDAR
   

   
  HIGHLIGHTS
   
 

RBI governor sees signs of recovery
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02. NEWSMAKER

Continued from Page 1
General Election 2009: Results


A large number of voters in a queue to cast their vote at a polling booth Davesamaj College for Women, during the 5th and final Phase of General Election-2009, in Chandigarh on May 13, 2009

It was a painstaking exercise that left out nobody — not even the solitary voter in the Gir forest in Gujarat. Guru Bharatdasji Maharaj was the only voter at his polling station, but three poll officials went to collect his vote. In hilly Arunachal Pradesh, there were four polling stations with just three voters each. The poll panel said officials reached the polling stations on foot and had to travel for three or four days from the nearest helipad or road. In the mangrove forests of Sundarbans, too, voters crossed on boats the narrow creeks and water channels that criss-cross the delta, and exercised their franchise. With the entire forested region crisscrossed by rivers, the Election Commission also ferried its officials and equipment on boats. Boats were also the primary mode of transport in the islands of Andaman and Nicobar and Lakshadweep.

“The Andaman and Nicobar group of Islands is one constituency and is 700 km long. Many places require 35-40 hours journey by boats,” the Election Commission said. And, if in Minicoy Island, EVMs were ferried by helicopters, in Assam’s Sonitpur district two bullock carts were kept on standby to transport poll material as the roads were not in good shape.


The Polling Officials collecting the EVM and other related materials for the use in the 5th phase of General Election-2009 from one of the distribution centre at Leh, Ladhakh on May 12, 2009.

And in some areas of the state, tamed elephants were kept ready to carry polling personnel and EVMs in case of rains. If the poll officials took special steps, some voters went the extra mile to exercise their franchise. In Udaipur, a groom rode up to a polling station on a white mare, saying he had to vote on the way to his wedding.

Another man, who rode to the polling station was Bhadaru in Kasumpti, Himachal Pradesh. Why did he have to ride? Because he was 127 years old, a man who had voted in independent India’s first election in 1952. About 67 boats were used to ferry officials and polling material in voting stations located on remote sandbars along the Brahmaputra river. It was a similar uphill task in other places too. Like in West Bengal’s Darjeeling district, where poll officials trekked 12 km up the Himalayas to reach the polling station at Srikhola. Once they reached, they had neither electricity nor piped water, just like the 692 registered voters. In Himachal Pradesh’s tribal belt of Kinnaur as well, the ballot involved a trek through miles of rugged, cold and inhospitable Himalayan terrain and a chilly night at the polling station before election day. In Jaisalmer district in Rajasthan, the Election Commission set up six mobile booths to facilitate voters in the Barmer parliamentary constituency.

Council of Ministers
PRESIDENT ALLOTS PORTFOLIOS TO 27 CABINET MINISTERS, 7 MINISTERS OF STATE (INDEPENDENT CHARGE) AND 38 MINISTERS OF STATE
Cabinet Ministers
Sr. Name Of Minister Portfolio
1. Shri Virbhadra Singh Minister of Steel
2. Shri Vilasrao Deshmukh Minister of Heavy Industries and Public Enterprises
3. Shri Ghulam Nabi Azad Minister of Health and Family Welfare
4. Shri Sushil Kumar Shinde Minister of Power
5. Shri M. Veerappa Moily Minister of Law and Justice
6. Dr. Farooq Abdullah Minister of New and Renewable Energy
7. Shri S. Jaipal Reddy Minister of Urban Development
8. Shri Kamal Nath Minister of Road Transport and Highways
9. Shri Vayalar Ravi Minister of Overseas Indian Affairs
10. Smt. Meira Kumar Minister of Water Resources
11. Shri Dayanidhi Maran Minister of Textiles
12. Shri A. Raja Minister of Communications and Information Technology
13. Shri Murli Deora Minister of Petroleum and Natural Gas
14. Smt. Ambika Soni Minister of Information and Broadcasting
15. Shri Mallikarjun Kharge Minister of Labour and Employment
16. Shri Kapil Sibal Minister of Human Resource Development
17. Shri B.K. Handique Minister of Mines and Minister of Development of North Eastern Region
18. Shri Anand Sharma Minister of Commerce and Industry
19. Shri C.P. Joshi Minister of Rural Development and Minister of Panchayati Raj
20. Kum. Selja Minister of Housing and Urban Poverty Alleviation and Minister of Tourism
21. Shri Subodh Kant Sahay Minister of Food Processing Industries
22. Dr. M.S. Gill Minister of Youth Affairs and Sports
23. Shri G.K. Vasan Minister of Shipping
24. Shri Pawan K. Bansal Minister of Parliamentary Affairs
25. Shri Mukul Wasnik Minister of Social Justice and Empowerment
26. Shri Kantilal Bhuria Minister of Tribal Affairs
27. Shri M.K. Alagiri Minister of Chemicals and Fertilizers
Ministers of State with Independent Charge
1. Shri Praful Patel Minister of State (Independent Charge) of Ministry Civil Aviation
2. Shri Prithviraj Chavan Minister of State (Independent Charge) of Ministry of Science and Technology; Minister of State (Independent Charge) of Ministry of Earth Sciences and Minister of State in the Prime Minister's Office; Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Ministry of Parliamentary Affairs
3. Shri Sriprakash Jaiswal Minister of State (Independent Charge) of the Ministry of Coal and Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation
4. Shri Salman Khursheed Minister of State (Independent Charge) of the Ministry of Corporate Affairs and Minister of State (Independent Charge) of the Ministry of Minority Affairs
5. Shri Dinsha J. Patel Minister of State (Independent Charge) of the Ministry of Micro, Small and Medium Enterprises
6. Smt. Krishna Tirath Minister of State (Independent Charge) of the Ministry of Women and Child Development
7. Shri Jairam Ramesh Minister of State (Independent Charge) of the Ministry of Environment and Forests
Minister Of State
1. Shri Srikant Jena Minister of State in the Ministry of Chemicals and Fertilizers
2. Shri E. Ahamed Minister of State in the Ministry of Railways
3. Shri Mullappally Ramachandran Minister of State in the Ministry of Home Affairs
4. Shri V. Narayansamy Minister of State in the Ministry of Planning and Minister of State in the Ministry of Parliamentary Affairs
5. Shri Jyotiraditya Scindia Minister of State in the Ministry of Commerce and Industry
6. Smt. D. Purandeswari Minister of State in the Ministry of Human Resource Development
7. Shri K.H. Muniyappa Minister of State in the Ministry of Railways
8. Shri Ajay Maken Minister of State in the Ministry of Home Affairs
9. Smt. Panabaka Lakshmi Minister of State in the Ministry of Textiles
10. Shri Namo Narain Meena Minister of State in the Ministry of Finance
11. Shri M.M. Pallam Raju Minister of State in the Ministry of Defence
12. Shri Saugata Ray Minister of State in the Ministry of Urban Development
13. Shri S.S. Palanimanickam Minister of State in the Ministry of Finance
14. Shri Jitin Prasad Minister of State in the Ministry of Petroleum and Natural Gas
15. Shri A. Sai Prathap Minister of State in the Ministry of Steel
16. Smt. Preneet Kaur Minister of State in the Ministry of External Affairs
17. Shri Gurdas Kamat Minister of State in the Ministry of Communications and Information Technology
18. Shri Harish Rawat Minister of State in the Ministry of Labour and Employment
19. Professor K.V. Thomas Minister of State in the Ministry of Agriculture and Minister of State in the Ministry of Consumer Affairs, Food & Public Distribution
20. Shri Bharatsinh Solanki Minister of State in the Ministry of Power
21. Shri Mahadev S. Khandela Minister of State in the Ministry of Road Transport and Highways
22. Shri Dinesh Trivedi Minister of State in the Ministry of Health and Family Welfare
23. Shri Sisir Adhikari Minister of State in the Ministry of Rural Development
24. Shri Sultan Ahmed Minister of State in the Ministry of Tourism
25. Shri Mukul Roy Minister of State in the Ministry of Shipping
26. Shri Mohan Jatua Minister of State in the Ministry of Information and Broadcasting
27. Shri D. Napoleon Minister of State in the Ministry of Social Justice and Empowerment
28. Dr. S. Jagathrakshakan Minister of State in the Ministry of Information and Broadcasting
29. Shri S. Gandhiselvan Minister of State in the Ministry of Health and Family Welfare
30. Shri Tusharbhai Chaudhary Minister of State in the Ministry of Tribal Affairs
31. Shri Sachin Pilot Minister of State in the Ministry of Communications and Information Technology
32. Shri Arun Yadav Minister of State in the Ministry of Youth Affairs and Sports
33. Shri Pratik Prakashbapu Patil Minister of State in the Ministry of Heavy Industries and Public Enterprises
34. Shri R.P.N. Singh Minister of State in the Ministry of Road Transport and Highways
35. Shri Shashi Tharoor Minister of State in the Ministry of External Affairs
36. Shri Vincent Pala Minister of State in the Ministry of Water Resources
37. Shri Pradeep Jain Minister of State in the Ministry of Rural Development
38. Ms. Agatha Sangma Minister of State in the Ministry of Rural Development

60 per cent turnout

 An estimated 428 million of India’s 714 million electorate voted in the five-phase general elections that saw a turnout of 60 percent, the Election Commission announced in New Delhi on May 13. On May 13, when the last round of polling was conducted in 86 constituencies in seven states and two union territories, 62 percent of the voters had exercised their franchise, Chief Election Commissioner Navin Chawla told reporters. The first round of the elections on April 16 saw a turnout of over 60 percent, on April 23 it was 55 percent, on April 30 the figure was 50 and the fourth round on May 7 saw 57 percent of voters casting their ballot. In the last Parliamentary elections in 2004, 57.65 percent of the 671.4 million electorate had voted.

Election Commission satisfied with polls: Chief Election Commissioner Naveen Chawla

The Election Commission on May 13 said it was “immensely satisfied” with the entire process of the five-phase general elections that started on April 16 and ended on May 13. “The entire poll process was largely peaceful,” Chief Election Commissioner Naveen Chawla said at a press conference in New Delhi. He said that the homework to conduct the elections started way in advance. “We have been intensely preparing over the last five months for this general election,” he said. The Commission put in relentless efforts to make it happen, he added. Chawla also praised former Chief Election Commissioner N. Gopalaswami for overseeing the arrangements for the polls. “The full Commission would like to express its gratitude to N. Gopalaswami, who oversaw all the arrangements for the general elections,” Chawla said.

Budget 2009-10 to be out by first week of July, says Pranab

Finance Minister Pranab mukherjee said that the budget for the year 2009-10 will be presented in the first week of July, showing the policies and priorities of the new UPA Government.

While talking to mediapersons, Pranab said, "I would not like to have a second batch of vote on account... the budget will be presented in the first week of July." He further said that the problems regarding the economy raised by him in the interim budget will also be addressed in the budget, specially those sectors that are strongly affected by the global financial crisis. The budget is required to be passed by July 31, by the Government and if the budget doesn't gets approved before July 31, another vote on account will be seeked by the Government.

Stable govt will ensure faster growth: Barclays

The UK-based investment bank Barclays Research expects the economy to do even better on account of an expected stable government at the Centre. It has said the general election results point to the formation of a strong and stable government. This improves the short-term and medium-term outlook for GDP growth. Sailesh Jha, director, Asia Economics Research, said he sees a strong pick-up in investment on the back of robust domestic consumption and strong demand for exports. The impact on the GDP is likely to be about 100-200 basis points on account of a few factors.

Barclays’ latest India report says, “We see risks to our FY09-10 and FY10-11 GDP growth forecasts as tilted to the upside by around 150 bps. The ability of a strong coalition government increases the possibility of significant structural reforms in financial, infrastructure, retail, and property sectors.”

This could increase the trend GDP growth rate of India over the next five years, Barclays has said. “Recent high-frequency indicators on consumers and investment spending are already showing signs of improvement. We believe GDP growth bottomed in Q4 2008. There is also some anecdotal evidence which suggests that credit growth and labour market conditions are improving, while sentiment on the economy’s outlook seems to be turning from neutral to negative,” it adds. Election outcome is set to have a crucial bearing on capital flows. The capital account in the balance of payments is likely to turn surplus from deficit in the second half of calendar year 2009 as growth and global liquidity improve. The rupee is expected to strengthen to Rs 45 levels by December 2009 from earlier forecast of 47. It is expected to strengthen further to Rs 44 level.

Even the current account in the balance of payments is likely to improve. It is expected to turn into a surplus of $1.8 bn (0.3% of GDP) in the second half of calendar year 2009 from a deficit of $1.9 bn (-1.9% of GDP) in the first half. This is because goods and services exports are seen to rebound as demand conditions improve in the industrialised economies. In addition, remittances are also expected to accelerate. Even the trade balance will improve as the oil import bill is set to dip and on improved outlook for exports. Barclays has revised its balance of payments (BoP) forecast for FY10 to $44.4 bn (4% of GDP) from-$3.4bn (-0.4% of GDP). Its FY09 BoP forecast is revised to $-23.8bn (-2.2% of GDP).



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