Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Monday, September 09, 2013

Steel consumption grows by 0.3% during April-August: JPC
[Editor: The trend is expected to improve in the coming days with Monsoon now coming to an end. Also, if the INR comes down to around Rs.61-62 Vs USD, the company would be able to save around Rs.245-300 Cr on its import of coal (mainly from Australia). Moreover, the coal prices are expected to come down further. CLICK HERE & CLICK HERE. Hence, remain invested in SAIL at Rs.47.5-48 (CMP: Rs.47.85]
New Delhi  September 9, 2013: Impacted by slowdown in domestic economy, the country's steel consumption grew by just 0.3% in the first five months of current fiscal at 30.345 million tonnes (MT).

According to data compiled by Joint Plant Committee (JPC), a Steel Ministry body, real consumption of the metal during the April-August period of the last fiscal was at 30.240 MT.

"Consumption was impacted by the slowdown in the domestic economy," JPC said.

Pulled down by a drop in mining and manufacturing output, India's economic growth in the April-June quarter slid to 4.4%, the lowest in past several years.

Global financial services firm Nomura had pegged the GDP growth at 4.2% for the current fiscal. Generally, steel consumption grows by 1.2 times of the GDP growth number.

Total production for sale, JPC said, grew by 4.9% during the April-August period of the current fiscal at 33.342 MT compared to 31.781 MT in the same period last financial year.

Imports were down by 28.2% to 2.410 MT from 3.357 MT a year earlier. At the same time, exports also dipped to 1.865 MT from 1.919 MT a year ago.

The balance between consumption and availability of steel thus stood at over 3.5 MT by the end of August.

Stating that accumulation of stocks by steel makers was a reflection of the poor economic condition, an analyst tracking the sector said poor demand from the construction and automobile sectors are primary reasons for stocks piling up.

"The trend of subdued demand witnessed in the domestic market due to sluggish economic growth, is likely to be over with Monsoon now coming to an end. Better demand is just a few days away," he said.

India's steel consumption grew by 3.3% during the 2012-13 fiscal to 73.336 MT while captains of the industry were hoping for a 6-7% growth during the current financial year.

Meanwhile, among major producers of steel in the country, state-run Steel Authority of India (SAIL) reported a 0.3% growth in production during the April-August period at 4.170 MT.

RINL reported 9.1% growth at 1.115 MT while Tata Steel's production was at 2.994 MT, a growth of 22.6% over the same period.

Compared to July 2013, production for sale of finished steel declined by six% in August 2013.