Decks cleared for Kerala Smart City

The Rs 1,500 crore Smart City project proposed to come up in Kochi inched closer to reality with Kerala government and representatives of the Dubai administration ironing out their differences and inking a new deal on Wednesday. The state cabinet approved the final terms for executing the IT park, expected to create about 1 lakh new jobs. Chief Minister V S Achutanandan said Dubai-based Tecom, the promoter, would not have the right to transfer the freehold land in the project. The project, originally agreed upon in 2007, had failed to take off following differences between the state and Tecom over the latter’s right on the freehold land. The original agreement promised 12% of the 246 acres on which the project is envisaged as freehold. Tecom, however, wanted the right to separate the same. But the state refused, saying the whole project enjoyed SEZ status. With both sides raising the red flag, there was even the fear that it would have to be shelved. But then a prominent NRI businessman, Yusuf Ali, was brought in as an interlocutor. This led to talks between CM Achutanandan and UAE government representative Ahmed Humaiud Al Tayer. Tecom scaled down its demand and both sides decided to execute the project. Land acquisition for the project was completed long back and foundation stone laid in 2007.

CBI arrests A.Raja

The Central Bureau of Investigation (CBI) on Wednesday arrested former telecom minister A Raja along with former telecom secretary Siddharth Behura for taking bribes to allot 2G spectrum licences to companies of his choice, including Swan and Unitech. Raja’s former personal secretary R K Chandolia was also arrested. The former telecom minister, who was forced to resign after an audit report pegged the losses from the undervaluation of spectrum at Rs 1.76 lakh crore, has been accused of conspiring with the two officials to help certain companies garner the coveted licences cheaply. Raja and his officials have been charged with favouring eight telecom companies, some of which did not even fulfill all the criteria laid down by the government for acquiring licences. They have been charged with plotting a criminal conspiracy under Section 120-B of the Indian Penal Code, and Sections 13(I), 13(2) and 13 (2D) of the Prevention of Corruption Act. The arrests can help the CBI satisfy the Supreme Court’s queries about the progress of the probe into the spectrum scam. The top court, which is monitoring the investigation, is to hear the matter on February 10. It can also help the government better deal with the opposition’s attack on the corruption issue . CBI sources said Raja was arrested for alleged misuse of the first-come-first-served policy to favour telecom companies of his choice in the allocation of 2G spectrum licences. He has also been accused of disregarding the fact that some of the companies which got licences should have beendisqualified. Raja had earlier rejected the two charges. However, CBI sources maintained that the arrests were made after investigators gathered strong evidence, including telephone conversations, of a nexus between the minister and the companies that received licences.

Sensex snapshotz

At the bottom of the heap!

NREGA is 5

Somewhere in Kashmir....

Anger swept through Sopore in Jammu and Kashmir on Tuesday over the killing of two girls by local militants and one suspected Lashkar-e-Taiba terrorist late on Monday. Sopore superintendent of police Altaf Khan identified the killers as Muzaffar Naiko and Wasim Gania — students of a madrassa in Muslim Peer locality in Sopore — and the third as an LeT terrorist. Twenty-year-old Akhtara was pumped with four bullets from an AK-47 held inches from her head while her younger sister Arifa (17) was shot in the chest at around 8pm. They were dragged out of sight of their parents and a brother by the terrorists at gunpoint while the girls’ aunts followed them, pleading for their lives. Their cries resounded through the narrow lane of Muslim Peer Mohalla, past 11 shops and hundreds of lit homes, but not one window opened and not a soul stirred. Five hundred yards from their home, the girls were slaughtered. The SP suspects the two girls refused to do the militants’ bidding for which they were killed. “There are around 13 madrassas in Sopore and the government is aware of their existence. We’d informed the authorities about their indoctrination, but nothing was done about it,” said another police officer. SP Khan said these madrassas were breeding grounds for militants. “We have strong inputs that these are run by the Lashkar,” he said. The place they were shot is next to a 300-year-old ‘ziarat’, and the office of local Fruit Growers’ Association, a chemist, and a BSNL dealer. In addition, there is a photo studio and five grocery stores. Yet, none saw or heard anything. The only evidence of their death is the dark brown blood stains in the mud. The girls’ father, Gulam Nabi Dar, works with a government ration shop, and could not afford to educate Akhtara and Arifa. The two unlettered girls embroidered clothes and earned Rs 12 a day. Chief minister Omar Abdullah condemned the killing and said, “The police will certainly get the killers and bring them to justice.”

December 2010 trade data

India’s imports declined for the first time in nine months, falling 11% to $25.1 billion in December 2010, compared to $28.3 billion a year ago. But there was some good news on the export front. Shipments out of India rose at their fastest pace in nearly 33 months. Exports grew 36.4% in December to $22.5 billion on the back of strong performances by engineering goods, gems and jewellery, leather and other products. Although this helped lower the trade deficit to $2.6 billion, the lowest level in three years, this is not good news for the local industry as imports consist of raw materials and inputs that are used for manufacturing. Data released by the commerce ministry showed exports rose 29.5% during April-Dec to $164.71 billion, while imports stood at $246.72 billion, rising 19% from the same year-ago period. The trade deficit in the April-Dec stood at $82 billion, which was higher than $80 billion recorded in April-Dec 2009. The strong export performance comes against the backdrop of fragile economic recovery in some developed markets.

NDA will ask its leaders to declare assets

Pledging to set an example in the fight against black money, the BJP-led NDA said it would direct its MPs, chief ministers and seniormost party leaders to declare their assets and asked the government to make all efforts to bring back Indian slush funds stashed in tax havens. Senior NDA leaders held a press conference to present the report of a task force that was appointed by the BJP to look into the issue of black money stashed abroad. “After discussing recommendations of the report, the NDA leaders decided that it would be appropriate that all those holding political office — whether MPs, leaders of political parties recognised by the Election Commission, or even central office-bearers of political parties—should be obligated to tell the government that we have no money abroad,” NDA chairperson L K Advani said. The opposition alliance also demanded that the government ratify the UN convention against corruption by the end of the Budget session of Parliament. The convention has already been approved by most of the UN member nations, and India is among the 14 countries which have not ratified it, Advani said.