Monday, September 2, 2013

India Downgraded (Food Security Bill, taking India back to 1945)

67% of Population, 82 crore people.... what this states is India as a Poor nation that 67% of people do not have food.

However, why we had left the 33% of Population that do not need the food from the Food Security Bill..  assume that we have 33% of politicians who are wealthy and do not need food from Government.

This clearly states that, we do not need to create any 'Jobs', rather we make our people beg for food from the Government.

We do not need any rating agencies to rate our country's credibility, perhaps our Parliament itself had downgraded the country.

If the food is replaced with 'Job', the Bill will be named as 'Job Security Bill' .. which would be appreciated and upgraded the country.

Pathetically, now India is having 67% of NPA (non performing assets).
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UPA successfully carried its ambitious food security bill through the Rajya Sabha on Monday, paving the way for a right to cheap wheat, rice and coarse grains for 67% of India’s population.
With the Lok Sabha passing it last week, the bill now has to go through just one formality: the President’s assent.
The food entitlement for 82-crore people will be a major poll plank for the UPA, but has also raised fears of a widening fiscal deficit.
Earlier, Leader of the Opposition Arun Jaitley called the bill a mere “repackaging” – even adding that the quantum of allocation for BPL families was being reduced — Sitaram Yechury of the CPM demanded universal coverage and not just for 67 % people.
In his reply, Food Minister KV Thomas defended the allocation limit of R25 kg per family for categories other than antyodaya, who would still get 35 kgs of food grains. He said that even till now states were giving lower quantum to include more people. “Only 32-crore families were included till now; we have made it 82-crore,” Thomas said.
Replying to claims that many opposition states had better schemes, Thomas pointed out that charged with procurement, storage and provision of grains to states, the Centre’s subsidy component was higher than states.
On Left’s demand for universal coverage, Thomas said the Centre could not procure beyond a point without adversely affecting prices in the market.   
Leader of Opposition in the Rajya Sabha Arun Jaitley on Monday said the bill is offering lesser food at costlier prices. “This bill should appropriately be called The Repackaging of Existing Food Schemes Bill”, Jailtely contended.
He said all existing food schemes provide for subsidy this year upto R113,000 crores. “The Minister has informed the Rajya Sabha on 23rd August 2013 that after the food bill, the subsidy will increase to R125,000 crores. The much touted food bill will thus increase the subsidy by only R12,000 crores”, Jaitley said.
“Are we expanding the right? Are we increasing outlay? The answer is no. For BPL we are reducing the quantum (from 35 kgs a family to 5 kgs a person, meaning about 25 kgs per family). It is just a repackaging,” Jaitley said.

He questioned the hurry of the government in bringing the food security ordinance, when Parliament was to meet in a month’s time.

Microsoft to acquire Nokia device business for $7.2 bln


(Reuters) - Microsoft Corp (MSFT.O) on Tuesday said it would buy Nokia's (NOK1V.HE) mobile phone business for 5.44 billion euros, and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction closed.
Finland's Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple (AAPL.O) and Samsung (005930.KS).
Analysts say Elop's bold bet in 2011 to adopt Microsoft's untested Windows Phone software has yet to pay off.
The deal is expected to close in the first quarter of 2014 and is subject to approval by Nokia's shareholders and regulatory approvals. Nokia partnered in 2011 with Microsoft and uses Microsoft's Windows software to run its mobile phones.
"It's a bold step into the future - a win-win for employees, shareholders and consumers of both companies," Microsoft's outgoing CEO, Steve Ballmer, said in a statement.
"Bringing these great teams together will accelerate Microsoft's share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services."
Nokia said in a statement it expected that Elop, along with senior executives Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber, would transfer to Microsoft when the deal was concluded. It did not say what roles they would take at Microsoft.
Nokia board chairman Risto Siilasmaa would take over CEO duties while the Finnish firm looked for a new CEO, it said.

Elop, a Canadian hired by Nokia in 2010 from Microsoft, has been one of the favourites to take over as Microsoft chief when Ballmer steps down.