A case of fraudulent appointment of no fewer than 11 youth as Junior Engineers and Technical Assistants in the Rural Development Department in Kishtwar has come to fore. Complaints against these youth having produced fake engineering certificates were lodged with authorities by persons who thought their genuine rights had been violated led to the unraveling of this fraudulent case of fake certificates. It is reported that these youth had studied at Polytechnic in Jammu but managed to obtain engineering certificates from Chhatisgarh. Now the ACD and the RDD are preparing to make enquiries from Chhatisgarh whether the certificates issued to the youth are genuine. These people had been appointed under MGNREGA and posted in Marwah, Dachhan, Nagsani and other blocs. The question is why was not full scrutiny of their fake engineering certificate made at the time of their appointment? Why were the norms of recruitment of fresher violated and appointment orders issued? Agreeing that in case it is proved that a fraud has been played on the Government, and the individual will be punished according to the law, the questions remains what about those who allowed them to take up the jobs without having scrutinized their documentation. On the face of it one can say that there has been a nexus of sorts between the applicants and the authorities charged with the responsibility of processing their case. It appears this is a scam though the fraud is yet to be established. Earlier also there were reports of fraudulent appointments in which authorities were also involved. Now that this case of fraud has come to the notice of the public, we hope the Government will conduct quick and impartial enquiry into the happening and if fraud is established, the culprits will be brought to book. The real facts about this case should be made public so that justice is done to one and all.
Gur prices end quiet on little doing
NEW DELHI, Feb 9: Gur (Jaggery) prices ended steady in the national capital today following small buying support against adequate stocks position.
Muzaffarnagar and Muradnagar gur market also ended steady in thin trade.
Marketmen said sufficient position of stocks against restricted buying mainly held gur prices unaltered.
The following are today’s quotations per quintal:
Gur chakku 2,800-2,900, pedi 2,900-3,000, dhayya 3,000-3,100 and shakkar 3,200-3,300.
Muzaffarnagar: Rasket 2,350-2,400, chakku 2,600-2,750 and khurpa 2,600-2650.
Muradnagar: Pedi 2600-2,650 and dhayya 2,650-2700. (PTI)
Hyderabad, Vijaywada freights up on less position of trucks
NEW DELHI, Feb 9: Freight rates for 10-tonne load for Vijaywada and Hyderabad rose by Rs 1000 in the local truck transport market today on short position of trucks.
Transporters said besides busy cargo movements, tight position of trucks in the markets, mainly pushed up freights.
Delhi to Vijaywada rates moved up by Rs.1000 to Rs.51,000. Hyderabad freights also went up by Rs.1000 at Rs.48,000.
The following are today’s freights per 10-tonne load: Jaipur 14,000 Hyderabad 48,000
Chandigarh 15,000 Vijayawada 51,000
Ludhiana 18,000 Bangalore 63,000
Kanpur 19,000 Chennai 65,000
Indore 20,000 Mysore 68,000
Ahmedabad 22,000 Pondicherry 69,000
Baroda 24,000 Coimbatore 72,000
Patna 27,000 Kochi 74,000
Surat 25,000 Thiruvananthapuram 80,000 Mumbai 28,000 Goa 50,000
Pune 30,000 Gwalior 10,000
Kolkata 32,000 Guwahati 50,000. (PTI)
Mustard oil trades lower on subdued demand
NEW DELHI, Feb 9: Mustard oil prices traded lower by Rs 50 per quintal in lacklustre trade on the wholesale oils and oilseeds market today due to subdued local demand against sufficient supplies.
However, other edible and non-edible oils moved in a narrow range on little doing and settled around previous levels.
In the national capital, mustard expeller oil (Dadri) shed Rs 50 at Rs 8250 per quintal.
The following were today’s quotations per quintal:
Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 1,100-1,250.
Edible oils: Groundnut Mill Delivery (Gujarat) 12,250, Groundnut Solvent Refined (per tin) 2,100-2,150, Mustard expeller (Dadri) 8,250, Mustard Pakki Ghani (per tin) 1,300-1,380, Mustard Kachi Ghani (per tin) 1,385-1,485, Sunflower 6,300, Sesame Mill Delivery 11,100, Soybean Refined Mill Delivery (Indore) 7,550, Soyabean Degum (Kandla) 7,100, Crude Palm Oil (Ex-Kandla) 7,400, Cottonseed Mill Delivery (Haryana) 7,000, Palmolein (RBD) Rs 7,650, Palmolein (Kandla) 7,150, Rice Bran (phy) 3,800 and Coconut (per tin) 1,360-1,410.
Non-edible oils: Linseed 6,350, Mahuwa 4,000, Castor 8,750-8,850, Neem 4,950-5,050, Rice Bran 3,130-3,230 and Palm Fatty 3,225-3,300.
Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175. (PTI)
Bajra inches up on scattered demand
NEW DELHI, Feb 9: Barring a rise in bajra on scattered demand, the wholesale grains market today held steady in limited deals.
Marketmen said scattered demand mainly helped bajra prices to trade higher.
In the national capital, bajra inched up by Rs 10 to Rs 1,340-1,345 per quintal.
The following are today’s quotations per quintal:
Wheat MP (deshi) 2,050-2,250, Wheat dara (for mills) 1,580-1,585, Chakki atta (delivery) 1,590-1,595, Atta Rajdhani (10 kg) 210, Shakti bhog (10 kg) 210, Roller flour mill 850-870 (50 kg), Maida 900-950 (50 kg) and Sooji 950-980 (50kg).
Basmati rice (Lal Quila) 10,000, Shri Lal Mahal 10,000, Super Basmati Rice, 9,500, Basmati common new 7,900-8,000, Rice Pusa-(1121) new 7,000-7,800, Permal raw 2,150-2,250, Permal wand 2,425-2,475, Sela 2,650-2,700 and Rice IR-8 1,750-1,800, Bajra 1,340-1,345, Jowar yellow 1,400-1,425, white 2,225-2,425, Maize 1,430-1,460, Barley 1,400-1,410, Rajasthan 1,080-1,090. (PTI)
Rajmah rises on tight supply
NEW DELHI, Feb 9: In limited deals, rajmah prices rose by Rs 50 per quintal on the wholesale pulses market today on firm demand from retailers against tight supplies following less arrivals from producing belts.
However, other pulses continued to move in a tight range on alternate bouts of trading and settled at previous levels.
Marketmen said besides firm demand, tight stocks availability due to less arrivals from producing regions mainly led to rise in rajmah chitra prices.
In the national capital, rajmah chitra moved up by Rs 50 to Rs 7,700-8,550 per quintal.
The following are today’s pulses rates per quintal:
Urad 3,300-3,650, Urad Chilka (local) 4,100-4,450, best 4,550-5,050, Dhoya 5,000-5,100, Moong 5,150-5,750, Dal Moong Chilka local 5,700-6,100, Moong Dhoya local 6,100-6,200 and best quality 6,800-6,900.
Masoor small 3,550-3,750, bold 3,700-3,900, Dal Masoor local 4,200-4,300, best quality 4,300-4,400, Malka local 3,825-3,925, best 4,025-4,125, Moth 3,400-4,000, Arhar 3,650-3,850, Dal Arhar Dara 5,150-5,350.
Gram 3,450-3,800, Gram Dal (local) 4,050-4,150, best quality 4,350-4,450, Besan (35 kg) Shakti bhog 1,760, Rajdhani 1,760, Rajmah Chitra 7,700-8,550, Kabli Gram small 3,500-6,000, dabra 2,700-2,800, imported 4,700-5,100; Lobia 3,500-4,600, Peas white 2,600-2,625 and green 2,700-2,800. (PTI)
Prices end flat in narrow movements
NEW DELHI, Feb 9: The local steel market remained flat today as saria and other steel prices continued to trade in a tight range on lack of worthwhile buying support and settled around previous levels.
Traders said lack of worthwhile buying support from constructions units mainly kept steel prices flat.
The following are today’s quotations per tonne:
CTD saria (Kamdhenu): 8-mm 49,000, 10-mm 47,500, 12-mm 46,500, 16-25 mm 47,100.
Saria Jai Bharat (TMT): 8-mm 45,100, 10 mm 44,800, 12-mm 44,100, 16-25 mm 44,400.
Amba shakti (TMT): 8-mm 45,400, 10-mm 43,100, 12-mm 42,100, 16-25 mm 42,600.
MS Angle: (50×5) (50×6) 42,000, (40×5) (40×6) 42,800.
Angle Capital (ISI) (40X5) (40×6) 43,800, (35X5) (65X6) 33,900. Girder 125X65 RS 39,300. (PTI)
Copper, nickel strengthen on industrial demand
NEW DELHI, Feb 9: Prices of copper and nickel strengthened by Rs 2 per kg on the local metals market today due to increased industrial demand.
The rise in demand amid a firming trend in overseas markets mainly strengthen copper and nickel prices.
In the national capital, copper mixed scrap and nickel (4×4) advanced by Rs 2 each to Rs 450 and Rs 1078-1081 per kg respectively.
The following are metal rates per kg:
Zinc ingot 123-129, nickel plate (4×4) 1,078-1,081, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 450, chadri deshi 285.
Lead ingot 145, lead imported 143, aluminium ingots 134, sheet cutting 135, aluminium wire scrap 139 and aluminium utensils scrap 134. (PTI)
LIC Nomura Mutual Fund launches new scheme
HYDERABAD, Feb 9: LIC Nomura Mutual Fund today launched its Rajiv Gandhi Equity Saving Scheme (RGESS) Series 1, a close ended equity tax advantage savings scheme for equity investors in India.
The scheme offers tax benefits under Section 80 CCG over and above the tax rebate offered under Section 80 C of the IT Act, 1961.
The New Fund Offer (NFO) will open for subscription on February 9, 2013 and close on February 25, 2013. The units will be available at par (Rs.10) during the NFO and at NAV related prices thereafter.
The scheme will not be open for subscription on an ongoing basis.
Speaking at the launch, Director & Chief Executive Officer, LIC Nomura MF Nilesh Sathe thanked Ministry of Finance for such novel initiative and said ‘The scheme will encourage flow of saving in financial instruments and improve the participation in domestic capital market and will also provide tax rebate to the investors’.
The investment objective of the scheme is to generate opportunities for growth while providing income tax benefits under section 80CCG of the Income Tax Act 1961 by active management of portfolio investing predominantly in RGESS eligible equity and equity related instruments, the release added. (UNI)
Signs of upturn in economy, growth likely to be 5.5%: FM
MUMBAI, Feb 9: Not happy with CSO’s growth projection, Finance Minister P Chidambaram today said there are signs of upturn in the economy and it is likely to grow at a higher rate of 5.5 per cent this fiscal and further improve to 6-7 per cent in 2013-14.
“While 5 per cent growth rate of CSO is low and is a matter of concern…We believe growth will be closer to 5.5 per cent rather than CSO’s estimate of 5 per cent”, he said while launching the Rajiv Gandhi Equity Savings Scheme (RGESS) here.
The Minister further said that Central Statistical Organisation’s (CSO) estimate of 5 per cent was not the lowest of the decade.
“It is still higher than the two record lows of 2000-01 and 2002-03. There are signs of upturn and that will take us back to high growth path,” Chidambaram said.
The Minister further said: “We should without any reason, denigrate our own performance and record.
“I have no doubt in my mind that we will come out of trough and we will climb back to growth rate of between 6-7 per cent next year and then between 7 and 8 per cent in the year after.”
CSO’s advance growth estimate of 5 per cent for the current fiscal has evoked sharp reaction from Finance Ministry which said that it has based the projection on data available till November, and ignored the signs of uptrend. (PTI)