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.....👍✌

Thursday, March 27, 2014

Loosening import duties on gold may spike demand
As the general election in India nears to close, Indian jewelers have crossed their fingers anticipating that the new government may take steps in relaxing the import rules imposed over the year. With the wedding and festive seasons at full swing in India gold demand for jewelry may spike in the coming days. Jewelers in India are expecting axing of 10% import duty so that they can supply enough jewelry this season. Due to the stringent import regulations in 2013, Indian jewelers had to face immense supply crunch of stocks which made it difficult to satisfy the rising demand.

Commenting on the expectation of the rebounding of India’s Gold import, Mr. T.S Kalyanaraman, the chairman of a South India-based jewelry – the Kalyan Jewelers expressed his belief that the new Government may relax the import curbs very soon so that the jewelry industry would recover. While addressing the media, Kalyanaraman said that a recovery of gold shipments in India from mid-year will definitely help in uplifting overseas purchases of gold in 2014. He adds that they expect to surpass the gold import of 2013 that stood at 825 metric tons by this year. Since jewelers are struggling to meet raw material supply, the regulations on gold bullion import are expected to be taken out this year, which may further spur smuggling.

In 2013, owing to the ballooning current account deficit of the country, India had increased the import tax on gold thrice starting from 2% to reach the record high of 10%. This stringent rule fell as a wind fall on Indian jewelers as the shipment declined while dragging down the CAD to controllable levels. It created shortage of stocks in India which rendered many jewelers and artisans jobless. The gold import is expected to continue its downward movement until June, after which it is expected to rebound by the end of June to reach the same figures of 2013.

According to the predictions by Societe General SA and Goldman Sachs Inc., gold is likely to fall below $1,000 an ounce amid the expectation of rebounding. According to Kalyanaraman, the smuggled gold demand in India may further increase by 40% to 50 % if the import duty is not eased and demand for jewelry continue to surge in India. He added that the demand for gold has triggered several small jewelers in India to sell their stocks without bills or showing the official figures. 

Courtesy: Resource Investor