Free Investment ideas & advice for medium term (3-12 months) & long term.

Penny Stock Example

2011-12-15T12:15:00.000+05:30

T spiritual Penny stock story

Chart itself tells the story..

4.55 HIGH on 12 dec 2011 TO 2.26 on 14 Dec 2011 (20%, 20% and 10% down from last 3 days)....

Pls note by the time you read this article, it is down by another 10% today and quoting at 2.04 Rs...

How in just 2-4 days a stock has come down to half its trading value with no chnage in fundamentals of the company..

see the volumes which may guide people studying technical analysis..

Regards,

Navneet

Dow Jones can fall fall cheaply if breaks 11300

2011-11-22T10:26:00.001+05:30

BSE Delisting 22 companies

2011-11-18T00:18:00.000+05:30

The BSE said in a statement that it would suspend 15 companies, with effect from December 19, which have failed to comply with various provisions of the Listing Agreement upto quarters ended December, 2010 and March 2011.

The 15 companies are Artillegence Bio Innovations, Baffin Engineering Projects, Betala Global Securities, CG Impex, Ficon Lease & Finance, Hanjer Fibres, IQ Infotech, Jhagadia Copper, Metalman Industries, MH Mills & Industries, Netvista Information Technology, Prashant India, Raghav Industries, Rose Zinc and Shukun Construction.

If any of these companies comply with all the provisions of the Listing Agreement on or before December 8, trading in securities of the company will be suspended for five trading days, or up to December 23.

In case a company complies with all the provisions of the agreement on or before January 2, 2012, the trading would be suspended for 30 days or up to January 17.

However, in case the company fails to comply with the provisions of the agreement, to the satisfaction of the exchange on or before January 2, the suspension would continue till such time the company complies with the procedure prescribed for revoking suspension in a scrip, the BSE said.

In addition, the BSE said that trading in the securities of seven firms, including Alfavision Overseas India Ltd and Ascent Exim India Ltd, would be suspended for five trading days from November 25 to December 1 on account of late compliance with the provisions of the listing agreement.

The other companies facing five-day suspension include Brindaban Holdings & Trading, Enrich Industries, Mukesh Strips, Richirich Inventures and Shree Rajiv Lochan Oil Extraction.

Best Innovation of year : personal shared drive of 8 GB freeeeeeeeeeeee

2011-10-16T18:02:00.001+05:30

Hi,

Personal shared drive application.

Download, Install, save folders/ files/ movies in this folder on your pc itself.

Share the folder with family and friends. They also Download, Install this application and all your shared files in the folder will be automatically copied in their system dropbox folder on their pc..

Its just your personal shared drive and freeeeeeee….

Enjoy…

It’s like carrying everything on cloud with you and even Always have your stuff when you need it with @Drop box. 2GB account is free! http://db.tt/DHMf8gZe

Regards,

Navneet

Best Innovation of year : personal shared drive of 8 GB freeeeeeeeeeeee

2011-10-16T18:01:00.000+05:30

Hi,

Personal shared drive application.

Download, Install, save folders/ files/ movies in this folder on your pc itself.

Its just your personal shared drive and freeeeeeee….

Enjoy…

It’s like carrying everything on cloud with you and even Always have your stuff when you need it with @Drop box. 2GB account is free! http://db.tt/DHMf8gZe

Regards,

Navneet

Emailing: Nifty 28 Aug 2011 4747 low for rally to 5200.

2011-08-28T16:18:00.001+05:30

Your message is ready to be sent with the following file or link
attachments:

Nifty 28 Aug 2011 4747 low for rally to 5200.

Note: To protect against computer viruses, e-mail programs may prevent
sending or receiving certain types of file attachments. Check your e-mail
security settings to determine how attachments are handled.

Anna Hazare's Social Work

2011-08-22T15:41:00.000+05:30

In 1991 Hazare launched the Bhrashtachar Virodhi Jan Aandolan (BVJA) (People's Movement against Corruption), a popular movement to fight against corruption^[40] in Ralegaon Siddhi. In the same year he protested against the collusion between 40 forest officials and timber merchants. This protest resulted in the transfer and suspension of these officials.^[41]

In May 1997 Hazare protested against alleged malpractices in the purchase of powerlooms by the Vasantrao Naik Bhathya Vimukt Jhtra Governor P. C. Alexander.^[42] On 4 November 1997 Gholap filed a defamation suit against Hazare for accusing him of corruption. He was arrested in April 1998 and was released on a personal bond of 5,000 (US$110).^[43] On 9 September 1998 Hazare was imprisoned in the Yerawada Jail to serve a three-month sentence mandated by the Mumbai Metropolitan Court.^[14][44] The sentencing came as a huge shock at that time to all social activists. Leaders of all political parties except the BJP and the Shiv Sena came in support of him.^[45][46] Later, due to public protests, the Government of Maharashtra ordered his release from the jail. After release, Hazare wrote a letter to then chief minister Manohar Joshi demanding Gholap's removal for his role in alleged malpractices in the Awami Merchant Bank.^[47] Gholap resigned from the cabinet on 27 April 1999.^[48]

In 2003 corruption charges were raised by Hazare against four NCP ministers of the Congress-NCP government.^[49] He started his fast unto death on 9 August 2003. He ended his fast on 17 August 2003 after then chief minister Sushil Kumar Shinde formed a one-man commission headed by the retired justice P. B. Sawant to probe his charges.^[50] The P. B. Sawant commission report, submitted on 23 February 2005, indicted Sureshdada Jain, Nawab Malik, and Padmasinh Patil. The report exonerated Vijaykumar Gavit. Suresh Jain and Nawab Malik resigned from the cabinet in March 2005.^[51]

Three trusts headed by Anna Hazare were also indicted in the P. B. Sawant commission report. 220,000 (US$4,910) spent by the Hind Swaraj Trust for Anna Hazare's birthday celebrations was concluded by the commission as illegal and amounting to a corrupt practice,^[52][53] though Abhay Firodia, an industrialist subsequently donated 248,000 (US$5,530) to the trust for that purpose.^[54] The setting apart of 11 acres of its land by the trust in favour of the Zilla Parishad without obtaining permission from the charity commissioner was concluded as a case of maladministration. The commission also concluded that the maintenance of accounts of the Bhrashtachar Virodhi Janandolan Trust after 10 November 2001 had not been according to the rules and 46,374 (US$1,030) spent by the Sant Yadavbaba Shikshan Prasarak Mandal Trust for renovating a temple was in contravention to its object of imparting secular education.^[52][53]

Right to Information movement

In the early 2000s Hazare led a movement in Maharashtra state which forced the state government to pass a stronger Maharashtra Right to Information Act. This Act was later considered as the base document for the Right to Information Act 2005 (RTI), enacted by the Union Government. It also ensured that the President of India assented to this new Act.^[55] Law professor Alasdair Scott Roberts said:

The state of Maharashtra – home to one of the world's largest cities, Mumbai, adopted a Right to Information Act in 2003, prodded by the hunger strike of prominent activist, Anna Hazare. ("All corruption can end only if there is freedom of information," said Hazare, who resumed his strike in February 2004 to push for better enforcement of the Act).^[56]

On 20 July 2006 the Union Cabinet amended the Right to Information Act 2005 to exclude the file noting by the government officials from its purview. Hazare began his fast unto death on 9 August 2006 in Alandi against the proposed amendment. He ended his fast on 19 August 2006, after the government agreed to change its earlier decision.^[57]

Regulation of Transfers and Prevention of Delay in Discharge of Official Duties Act

Before 2006 in the state of Maharashtra, even honest government officers were transferred to other places according to ministers wish. Sometimes within months of being posted to a place, whereas some corrupt and favoured officials were cozy in their postings for many years in some cases even for 10 to 20 years and since there was not any guideline or law many government officials were reluctant to process files that contained important public proposals and decisions. Anna fought hard for a law whereby a government servant must clear a file within a specified time and that transfers must take place only after three years. After many years of relentless efforts of Anna, finally on 25 May 2006 state government of Maharashtra issued a notification announcing that the execution of the special act, The Prevention of Delay in Discharge of Official Duties Act 2006, aimed at curbing the delay by its officers and employees in discharging their duties. This act provides for disciplinary action against officials who move files slowly and enables monitoring officials who stay too long in a post, or in a department, and for involvement in a corrupt nexus. Within this act, it is mandatory for the government to effect transfers of all government officers and employees, except Class IV workers, after the stipulated three years. Act also prevents the government from effecting frequent transfers of officers before the stipulated three-year tenure, except in case of emergency and under exceptional circumstances. Maharashtra is the first state in the country to have introduced such act.^[28] However, like others, this law has also not been followed in its true spirit.^[58][59]

Campaign against liquor from food grains

Constitution of India Article 47 commits the State to raise the standard of living and improve public health, and prohibit the consumption of intoxicating drinks and drugs injurious to health.^[60][61][62]

In 2007 Maharashtra Government rolled out the grain-based liquor policy aimed to encourage production of liquor from food grain in the light of the rising demand for spirit – used for industrial purposes and potable liquor and Issue 36 licenses for distilleries for making alcohol from food grains.^[62]

Anna Hazare opposed the governments policy to promote making liquor from food grains in Maharashtra. He argued the government that Maharashtra is a food-deficit State and there was shortage of food grains and it is not logical to promote producing liquor from food grains.^[63] One of the State ministers Laxman Dhoble said in his speech that those opposing the decision to allow use of food grains for the production of liquor are anti-farmers and those people should be beaten up with sugarcane sticks.^[64][65] Hazare initiated fast at Shirdi, but on 21 March 2010 government promised to review the policy and Anna ended his 5 day long fast.^[66] But the government later granted 36 licences and grants of of 10 (US$0.22) (per litre of alcohol) to politicians or their sons who were directly or indirectly engaged in making alcohol from foodgrains. Some of the main beneficiaries of these licences includes Amit and Dheeraj Deshmukh, sons of Union Heavy Industries Minister Vilasrao Deshmukh, Bharatiya Janata Party leader Gopinath Munde's daughter Pankaja Palwe and her husband Charudatta Palwe, sons-in-law of P.V. Narasimha Rao, Rajya Sabha MP Govindrao Adik.^[67][63][68] The government approved the proposal for food grain-based alcohol production in spite of stiff opposition from the planning and finance departments saying there is a huge demand in other countries for food grain made liquor in comparison with that of molasses.^[69] Anna filed a Public Interest Litigation against the Government of Maharashtra for allowing food-grains for manufacturing liquor in the Nagpur bench of the Bombay High Court. On 20 August 2009 Maharashtra government stopped the policy. However, distilleries sanctioned before that date and those who started production within two years of sanction were entitled for subsidies.

On 5 May 2011 court refused to hear a Public Interest Litigation saying "not before me, this is a court of law, not a court of justice" as a reason of not hearing the plea.^[70][71] One of Principal Secretary in Maharashtra state C.S. Sangeet Rao, enlighten that there is no law exists to scrap these licences as this is a government policy.^[63]

Jan Lokpal Bill

To download Jan Lokpal Bill in Hindi and English, go to www.indiaagainstcorruption.org

Lokpal Bill movement

In 2011, Hazare initiated a Satyagraha movement for passing a stronger anti-corruption Lokpal (ombudsman) bill in the Indian Parliament as conceived in the Jan Lokpal Bill (People's Ombudsman Bill). The Jan Lokpal Bill was drafted earlier by N. Santosh Hegde, former justice of the Supreme Court of India and Lokayukta of Karnataka, Prashant Bhushan, a senior lawyer in the Supreme Court and Arvind Kejriwal, a social activist along with members of the India Against Corruption movement. This draft bill incorporated more stringent provisions and wider power to the Lokpal (Ombudsman) than the draft Lokpal bill prepared by the government in 2010.^[72] These include placing "the Prime Minister within the ambit of the proposed lokpal's powers".^[73]

Hunger strike in Delhi

Hazare began his fast unto death on 5 April 2011 at Jantar Mantar in Delhi to press for the demand to form a joint committee of the representatives of the Government and the civil society to draft a stronger anti-corruption bill with stronger penal actions and more independence to the Lokpal and Lokayuktas (Ombudsmen in the states), after his demand was rejected by the Prime Minister of India Manmohan Singh.^[74] He stated, "I will fast until Jan Lokpal Bill is passed".^[75]

The movement attracted attention in the media, and thousands of supporters. Almost 150 people reportedly joined Hazare in his fast.^[76] Social activists, including Medha Patkar, Arvind Kejriwal, former IPS officer Kiran Bedi, and Jayaprakash Narayan lent their support to Hazare's hunger strike and anti-corruption campaign. People have shown support in Internet social media such as Twitter and Facebook. Online Signature Campaigns like avaaz got 6.5lakh signatures in just 36 hours. In addition to spiritual leaders Sri Sri Ravi Shankar, Swami Ramdev, Swami Agnivesh and former Indian cricketer Kapil Dev, many celebrities showed their public support through Twitter.^[77][78] Hazare decided that he would not allow any politician to sit with him in this movement. Politicians like Uma Bharti and Om Prakash Chautala were shooed away by the protesters when they came to visit the site where the protest was taking place.^[79] On 6 April 2011 Sharad Pawar resigned from the group of ministers formed for reviewing the draft Lokpal bill 2010.^[80]

The movement gathered significant support from India's youth, visible through the local support and on social networking sites like Facebook and Twitter.^[81] Protests spread to Bangalore, Mumbai, Chennai, Ahmedabad, Guwahati, Shillong, Aizawl and a number of other cities in India.^[82]

End of hunger strike after meeting demands

On 8 April 2011 the Government of India accepted all demands of the movement. On 9 April 2011 it issued a notification in the Gazette of India on formation of a joint committee. It accepted the formula that there be a politician Chairman and an activist, non-politician Co-Chairman. According to the notification, Pranab Mukherjee will be the Chairman of the draft committee while Shanti Bhushan will be the co-chairman. "The Joint Drafting Committee shall consist of five nominee ministers of the Government of India and five nominees of the civil society. The five nominee Ministers of the Government of India are Pranab Mukherjee, Union Minister of Finance, P. Chidambaram, Union Minister of Home Affairs, M. Veerappa Moily, Union Minister of Law and Justice, Kapil Sibal, Union Minister of Human Resource and Development and Minister of Communication and Information Technology and Salman Khursheed, Union Minister of Water Resources and Minister of Minority Affairs. The five nominees of the civil society are Anna Hazare, N. Santosh Hegde, Shanti Bhushan Senior Advocate, Prashant Bhushan, Advocate and Arvind Kejriwal.^[83][84]

On the morning of 9 April 2011 Hazare ended his 98-hour hunger strike by first offering lemon juice to some of his supporters who were fasting with him. Hazare then broke his fast by consuming some lemon juice. He addressed the people and set a deadline of 15 August 2011 to pass the Lokpal Bill in the Indian Parliament.

"Real fight begins now. We have a lot of struggle ahead of us in drafting the new legislation, We have shown the world in just five days that we are united for the cause of the nation. The youth power in this movement is a sign of hope."

Anna Hazare said that if the bill does not pass he will call for a mass nation-wide agitation.^[85][86] He called his movement as "second struggle for independence" and he will continue the fight.^[87]

Differences with the government on draft bill

During the meeting of the joint drafting committee on 30 May 2011, the Union government members opposed the inclusion of the prime minister, higher judiciary and the acts of the MPs under the purview of the Lokpal in the draft bill.^[88] On 31 May 2011, Pranab Mukherjee, chairman of the joint drafting committee sent a letter to the chief ministers of all states and the leaders of the political parties seeking their opinion on six contentious issues in the proposed Lokpal Bill, including whether to bring the prime minister and judges of Supreme Court and High Courts under the purview of the proposed law.^[89] But the civil society members of the drafting committee considered that keeping the prime minister and judges of Supreme Court and High Courts out of the purview of the Lokpal would be a violation of the United Nations Convention against Corruption.^[90]

Anna Hazare and other civil society members decided to boycott the meeting of the joint Lokpal Bill drafting committee scheduled on 6 June 2011 in protest against the forcible eviction of Swami Ramdev and his followers by the Delhi Police from Ramlila Maidan on 5 June 2011, while they were on hunger strike against the issues of black money and corruption and doubting seriousness of the government in taking measures to eradicate corruption.^[91]

On 6 June 2011, the members of the civil society of the joint Lokpal bill drafting committee in New Delhi sent a letter to Pranab Mukherjee, the chairman of the committee, explaining reasons for their absence at the meeting and also asked government to make its stand public on the contentious issues related to the proposed draft legislation. They also decided that the future meetings will be attended only if they were telecast live.^[92] On 8 June 2011 at Rajghat, describing his movement as the second freedom struggle, Anna criticised the Government for trying to discredit the joint Lokpal Bill drafting committee and threatened to go on indefinite fast again from 16 August 2011 if the Lokpal Bill is not passed by then. He also criticised the Government for putting hurdles in the drafting of a strong Lokpal Bill and its attempts to malign the civil society members of the joint Lokpal panel.^[93][94][95]

Indefinite fast

On 28 July 2011 the union cabinet on approved a draft of the Lokpal Bill, which keeps the Prime Minister, judiciary and lower bureaucracy out of the ambit of the proposed corruption ombudsman Lokpal. Hazare rejected the government version by describing it as "cruel joke'' and wrote a letter to Prime Minister Manmohan Singh, and told him his decision to go on an indefinite fast from 16 August 2011 at Jantar Mantar if the government introduced its own version of the bill in Parliament without taking suggestions from civil society members.^[96][97]

Why are you (government) sending the wrong draft? We have faith in Parliament. But first send the right draft, our agitation is against government, not Parliament. The government has overlooked many points. How will it fight corruption by excluding government employees, CBI and prime minister from the Lokpal's purview? We were told that both the drafts would be sent to the Cabinet. But only the government's draft was sent. This is a deceitful government. They are lying. How will they run the country? Now I have no trust in this government. If it is really serious about fighting corruption, why is it not bringing government employees and CBI under Lokpal?- Anna Hazare

Within twenty four hours of cabinet's endorsement of a weak Lokpal Bill, over ten thousand peoples from across the country sent faxes directly to the government demanding a bill with stronger provisions.^[98] The Mumbai Taxi Men's Union, comprises over 30,000 taxi drivers have extended their full support to Hazare's fast by keeping all taxis off the roads on 16 August 2011.^[99] Lawyers of Allahabad High Court described Lokpal Bill proposed by the government as against the interest of the country and pledged their support to Hazare by hunger strike at Allahabad on 16 August 2011.^[100] On 30 July 2011 Vishwa Hindu Parishad supported Hazare's indefinite fast by saying movement for an effective anti-corruption ombudsman needs the backing of people.^[101]

On 1 August, Public interest litigation was filed in the Supreme Court of India by Hemant Patil, a Maharashtra-based social worker and businessman, to restrain Hazare from going on his proposed indefinite fast. The petitioner demanded to prohibit the fast alleging that Hazare's demands are unconstitutional and amount to interference in legislative process.^[102]

Arrest and aftermath

On 16 August 2011, Hazare was arrested four hours before the planned indefinite hunger strike.^[103] Rajan Bhagat, spokesman for Delhi Police, said police arrested Hazare under a legal provision that bans public gatherings and protests at the park in Delhi where he was planning to begin his hunger strike. Police took that action after Hazare refused to meet the conditions put forward by police for allowing the protest.^[104] The conditions included restricting the length of the fast to three days and the number of protesters at the site to 5,000. Later Anna was sent to Tihar jail under judicial custody for 7 days.^[105] After announcements by Prashant Bhushan (Hazare's lawyer), local television, and social media sites (including Facebook), a march of thousands in support of Hazare began from the India Gate to Jantar Mantar.^[106]

Along with Hazare, other key members of the India Against Corruption movement including Arvind Kejriwal, Shanti Bhushan, Kiran Bedi and Manish Sisodia were also detained from different locations. It was reported that about 1,300 supporters were detained in Delhi.^[107] Media also reported that the arrest sparked off protests with people courting arrests in different parts of the country. The opposition parties in the country came out against the arrest, likening the government action to the emergency imposed in the country in 1975. Both the houses of Parliament were adjourned over the issue.^[108]

Eventually, after being kept in judicial detention for 24 hours, he was released by police, but Hazare and his supporters refused to sign bail bond and he was sent to Tihar Jail.^[109] They demanded permission to observe a fast in support of the Janlokpal bill, without any conditions.^[110] Hazare continued his fast inside the jail.^[111]

After his arrest, Anna Hazare received massive support from people across the country. There were reports of "nearly 570 demonstrations and protests by Anna supporters across the country" against the government's imprisonment of Hazare and others.^[73][112] Due to the nationwide protests of millions,^[113] the Indian government agreed to release Hazare from jail and allow him to begin a public hunger strike of fifteen days.^[114] After talks with public authorities Hazare decided to hold his protest at Ramlila Maidan, New Delhi.^[115] On 20 August 2011 Hazare "left the Tihar Jail for the Ramlila Grounds".^[116] Hazare promised reporters "he would fight to the 'last breath' until the government gets his team's Jan Lokpal Bill passed in this session of Parliament, which ends on 8 September."^[73]

Fast at Ramlila Maidan

On August 20, 2011 thousands came to the Ramlila Maidan to show their support for Hazare, while "his advisers made televison appearances to rally public support and defend themselves against criticism that their protest campaign and refusal to compromise is undermining India's parliamentary process."^[117] The National Campaign for People's Right to Information (NCPRI) condemned Hazare's deadline for passing the bill as undermining democracy, which operates by "holding wide-ranging consultations and discussions, allowing for dissent and evolving a consensus. ...He [Hazare] has the right to protest and dissent. But nobody can claim it as an absolute right and deny the right of dissent to others."^[118] The Congress party confirmed that Maharashtra Additional Chief Secretary (Home) Umesh Chandra Sarangi (who has a history of mediating between Hazare and government officials) was meeting with the social activist again "to find points of consensus and defuse the situation".^[119] On August 21, 2011 "tens of thousands" came to Ramlila Maidan to support Hazare as he sat on an elevated platform.^[120] It was reported that Hazare at that point had "lost more than seven pounds since beginning his fast", despite this he stated "'I will not withdraw my hunger strike until the Jan Lokpal bill is passed in the Parliament. I can die but I will not bend.'"^[120]

Electoral reform movement

In 2011, Anna Hazare demanded an amendment to the electoral law to incorporate the option of None of the above in the electronic voting machines during the Indian elections.^[121][122] The "None of the above (NOTA)" is a ballot option that allows an electorate to indicate disapproval of all of the candidates in an electoral system, in case of non-availability of any candidate of his choice, as his Right to Reject. Soon, the Chief Election Commissioner of India Shahabuddin Yaqoob Quraishi supported Hazare's demand for the electoral reforms.^[123]

Protest against atrocities against Swami Ramdev and his supporters

On 8 June 2011, Anna Hazare and thousands of his supporters observed fast from 10 am to 6 pm at Rajghat to protest against the midnight crackdown of 5 June 2011 by the Delhi Police on Swami Ramdev's fast at Ramlila Maidan, New Delhi. The fast was initially planned to be held at Jantar Mantar, but the venue was shifted after the denial of permission by the Delhi police.^[124][93] Anna Hazare held the Prime Minister of India responsible for the atrocities^[125] and termed the police action as a blot on humanity and an attempt to stifle democracy.^[93] According to one of the Anna's young supporters, the large presence of youths in the protest was due to their support to his use of nonviolence means of protest similar to Gandhi.^[126]

Controversies and criticism

Views on Narendra Modi

In a press conference in April 2011, Anna Hazare praised Narendra Modi, the chief minister of Gujarat for his efforts on rural development along with Nitish Kumar, chief minister of Bihar, saying that the same should be emulated by the chief ministers of all states.^[127] Subsequently, Modi wrote an open letter to him, hailing him as a Gandhian and anti-corruption activist^[128] while Digvijay Singh, the General Secretary of the Congress party, criticised him for his comment.^[129] In May 2011, Hazare, during his visit to Gujarat, changed his view and criticised Modi for rampant corruption by Government officials in Gujarat. He urged Modi to appoint a Lokayukta in Gujarat. He also commented that the media had projected an incorrect image of Vibrant Gujarat, very different from the prevalent situation.^[130]

Accusations of corruption

The government of the state of Maharashtra instituted a Commission of Inquiry under Justice PB Sawant in September 2003 to enquire into allegations of corruption against several people, including four ministers in the state as well as the "Hind Swaraj Trust" headed by Hazare. The Commission submitted its report on 22 February 2005 in which it indicted the Hind Swaraj Trust for corrupt practice of spending Rs. 2.20 lakhs of its funds on the birthday celebrations of Hazare.^[131] Two days ahead of Hazare's proposed indefinite fast on 16 August 2011, the ruling party of India, the Indian National Congress, launched an attack on him alleging that "the moral core of Hazare has been ripped apart" by the Justice P B Sawant Commission.^[132]

In response to this allegaton, Hazare's lawyer Milind Pawar, claimed that the commission had remarked about "irregularities" in the accounts, but had not held him guilty of any "corrupt" practices. Pawar said that on 16 June 1998, a celebration was organised to facilitate Hazare on winning an award from a US based NGO and it coincided with his 61st birthday. The trust spent Rs 2.18 lakh for the function. Abhay Phirodia, a Pune-based industrialist, who took the initiative to organise this function donated an amount of Rs 2,48,950 to the trust by cheque soon after the function.^[133]

Hazare himself responded to the allegation by daring the government to file a First Information Report (FIR) against him to prove the charges.^[134]

Accusation of being anti-democratic and anti-dalit

Dalit columnists like Chandrabhan Prasad have opined that the movement initiated by Anna Hazare against corruption and for lokpal bill is taking us to a situation of rejecting representative democracy and also alleged that this movement is an upper-caste uprising against India's political democracy. It is also alleged that the centralization such huge powers in Lokapal which is a non-elected entity will lead the democratic setup to a very dangerous situation.

Dalit activist Kancha Ilaiah also commented in a similar fashion, that "The Anna movement is an anti-social justice, manuvadi movement. The Dalits, tribals, OBCs and minorities have nothing to do with it. We oppose it." Another activist Anoop Kheri claimed that "The language, symbols used by the movement clearly reflects its upper caste Hindu nature, a very rightwing Hindu patriotism is being used to get the entire country against corruption. And as a dalit, I have a problem with it."^[135]

There was also an allegation that an RTI activist was denied permission to protest by having a fast-unto-death at Ralegan Siddhi, by the grama sabha stating the reason that only Anna Hazare can hold such fasts in his village.^[136]

Conspiracy to murder Hazare

Anna Hazare has exposed large corruption in co-operative sugar factories of Maharashtra. One of the sugar factories which Anna exposed corruption is controlled by Padamsinh Bajirao Patil, a member of Parliament of 15th Lok Sabha and higher-ranking Leader of Nationalist Congress Party from Osmanabad, and also a prime accused and conspirator in the 2006 murder case of Indian National Congress leader Pawanraje Nimabalkar.^[137][138]

The conspiracy to kill Hazare was exposed when Parasmal Jain, an accused in the Nimbalkar murder case, in his written confession before a magistrate said that Padamsinh Bajirao Patil had paid a sum of 3,000,000 (US$66,900) to murder Nimbalkar, and also offered him supari (contract killing sum) to kill Anna Hazare.^[139][140] After this written confession, Anna appealed to the state government of Maharashtra to lodge a separate First Information Report ( FIR ) against Padamsinh Bajirao Patil for conspiring to murder him but the government did not take any action in this regard. Anna Hazare decided to lodge a complaint himself and on 26 September 2009, he lodged complaint at Parner police station of Ahmednagar District in Maharashtra against the Nationalist Congress Party (NCP) MP Padamsinha Patil for conspiring to eliminate him.^[141] Padamsinh Patil approached the High Court seeking anticipatory bail but on 14 October 2009, the Aurangabad bench of Bombay High Court rejected the anticipatory bail application of Padamsinh Patil in connection with a complaint filed by Anna after observing that there is a prima facie evidence against him.^[142][143]

Padmasinh Patil appealed for an anticipatory bail in Supreme Court of India which the court rejected on 6 November 2009.^[144] On 11 November 2009 Padmasinh Patil surrendered before the sessions court in Latur as per a directive of the Supreme Court and was sent to judicial remand for 14 days.^[145] On 16 December 2009 Aurangabad bench of Bombay High Court granted bail to him.^[146] As of 16 August 2011 the verdict is pending.

Honours, awards and international recognition

Year of Award or Honor	Name of Award or Honor	Awarding Organization
2008	Jit Gill Memorial Award	World Bank
2005	Honorary Doctorate	Gandhigram Rural University
2003	Integrity Award	Transparency International
1998	CARE International Award	CARE (relief agency)
1997	Mahaveer Award
1996	Shiromani Award
1992	Padma Bhushan	President of India
1990	Padma Shri	President of India
1989	Krishi Bhushana Award	Government of Maharashtra
1986	Indira Priyadarshini Vrikshamitra Award	Government of India

Personal life

Anna Hazare is unmarried. He lives in a small room attached to the Sant Yadavbaba temple in Ralegan Siddhi since 1975. He never visited his home though it is in same village. On 16 April 2011, he declared his bank balance of 67,183 (US$1,500) and 1,500 (US$30) as money in hand.^[147] He owns 0.07 hectares of family land in Ralegan Siddhi which is being used by his brothers. Two other pieces of land donated to him by the Indian Army and by a villager have been donated by him for village use.^[148] He receives only a pension from the Indian army as income.

Writings

· Hazare, Anna; Ganesh Pangare, Vasudha Lokur (1996). Adarsh Gaon Yojana: government participitation in a peoples program : ideal village project of the Government of Maharashtra. Hind Swaraj Trust. p. 95. http://books.google.com/books?id=Eh4pHAAACAAJ&dq=inauthor:%22Anna+Hazare%22&hl=en&ei=OHudTcvOOsXjrAfavIWqBA&sa=X&oi=book_result&ct=result&resnum=1&ved=0CCwQ6AEwAA. Retrieved 2011-08-20.

· Hazare, Anna (in English). My Village – My Sacred Land. New Delhi: CAPART.

· Hazare, Anna (1997). Ralegaon Siddhi: a veritable transformation. Translated by B.S. Pendse. Ralegan Siddhi Pariwar Prakashan,. http://books.google.com/books?id=mCENHAAACAAJ&dq=Anna+Hazare&hl=en&ei=ZnSdTZGjBsmYhQeK3-26BA&sa=X&oi=book_result&ct=result&resnum=3&ved=0CDcQ6AEwAg. Retrieved 7 April 2011.

· Hazare, Anna (2007) (in Marathi). वाट ही संघर्षाची. Pune: Signet Publications.

· (in English) ANNA HAZARE: The Face of Indias Fight Against Corruption. Pentagon Press. 2011. p. 124. ISBN 9788182745452. http://www.sparkbooks.in/cart/index.php?main_page=product_info&cPath=1_49&products_id=62580. Retrieved 14 June 2011.

Anna Hazare's Transformation of Ralegan Siddhi

2011-08-22T15:31:00.000+05:30

Transformation of Ralegan Siddhi

In 1978 after a voluntary retirement from the Indian army, Hazare went to his native village Ralegan Siddhi, a village located in the acute drought-prone and rain-shadow zone of Parner Tehsil of Ahmadnagar district, in central Maharashtra.^[22] It was one of the many villages of India plagued by acute poverty, deprivation, a fragile ecosystem, neglect and hopelessness. Hazare made remarkable economic, social and community regeneration in Ralegan Siddhi. He reinforced the normative principles of human development – equity, efficiency, sustainability and people's participation and made Ralegan Siddhi an oasis of human-made regeneration in a human-made desert without any inputs of industrialisation and technology-oriented agriculture.^[11][23]

Prohibition on alcohol

Anna Hazare recognised that without addressing the menace of alcoholism, no effective and sustainable reform was possible in the village. He organised the youth of the village into an organisation named the Tarun Mandal (Youth Association).^[24] Hazare and the youth group decided to take up the issue of alcoholism. At a meeting conducted in the temple, the villagers resolved to close down liquor dens and ban alcohol in the village. Since these resolutions were made in the temple, they became in a sense religious commitments. Over thirty liquor brewing units were closed by their owners voluntarily. Those who did not succumb to social pressure were forced to close down their businesses when the youth group smashed up their liquor dens. The owners could not complain as their businesses were illegal.^[25]

When some villagers were found to be drunk they were tied to poles/pillars of the temple and flogged, sometimes personally by Hazare. He justified this harsh punishment by stating in an interview to Reader's Digest in 1986 that “rural India was a harsh society”.^[26]

Hazare said, “Doesn’t a mother administer bitter medicines to a sick child when she knows that the medicine can cure her child? The child may not like the medicine, but the mother does it only because she cares for the child. The alcoholics were punished so that their families would not be destroyed.”^[27]

Hazare appealed to the government of Maharashtra to bring in a law whereby prohibition would come into force in a village if 25% of the women in the village demanded it. In July 2009 the state government issued a government resolution amending the Bombay Prohibition Act, 1949. As per the amendments, if at least 25% of women voters demand liquor prohibition through a written application to the state excise department, voting should be conducted through a secret ballot. If 50% of the voters vote against the sale of liquor, prohibition should be imposed in the village and the sale of liquor should be stopped. Similar action can be taken at the ward level in municipal areas. Another circular was issued making it mandatory to get the sanction of the Gram sabha (the local self government) for issuing new permits for the sale of liquor. In some instances, when women agitated against the sale of liquor, cases were filed against them. Hazare took up the issue again. In August 2009 the government issued another circular that sought withdrawal of cases against women who sought prohibition of liquor in their villages.^[28]

It was decided to ban the sale of tobacco, cigarettes, and beedies (an unfiltered cigarette where the tobacco is rolled in tendu also known as Diospyros melanoxylon leaves instead of paper) in the village. In order to implement this resolution, the youth group performed a unique "Holi" ceremony twenty two years ago.^[when?] The festival of Holi is celebrated as a symbolic burning of evil. The youth group brought all the tobacco, cigarettes, and beedies from the shops in the village and burnt them in a ‘Holi’ fire. Tobacco, cigarettes, or beedies are no longer sold.^[29][30]

Grain Bank

In 1980, the Grain Bank was started by him at the temple, with the objective of providing food security to needful farmers during times of drought or crop failure. Rich farmers, or those with surplus grain production, could donate a quintal to the bank. In times of need, farmers could borrow the grain, but they had to return the same amount of grain they borrowed, plus an additional quintal as an interest. This ensured that nobody in the village ever went hungry or had to borrow money to buy grain. This also prevented distress sales of grain at lower prices at harvest time.^[

Watershed development programme

Ralegan is located in the foothills, so Hazare persuaded villagers to construct a watershed embankment to stop water and allow it to percolate and increase the ground water level and improve irrigation in the area. Residents of the village used shramdan (voluntary labour) to build canals, small-scale check-dams, and percolation tanks in the nearby hills for watershed development. These efforts solved the problem of water scarcity in the village and made irrigation possible.^[16][17] The first embankment that was built using volunteer efforts developed a leak and had to be reconstructed, this time with government funding.

In order to conserve soil and water by checking runoff, contour trenches and gully plugs were constructed along the hill slopes. Grass, shrubs and about 3 Lakh ( 300,000 ) trees were planted along the hillside and the village. This process was supplemented by afforestation, nullah bunds, underground check dams, and cemented bandharas (small diversion weirs) at strategic locations.^[25] Ralegan has also experimented with drip and bi-valve irrigation. Papaya, lemon, and chillies have been planted on a plot of 80 acres (32 ha) entirely irrigated by the drip irrigation system. Cultivation of water-intensive crops like sugar cane was banned. Crops such as pulses, oil-seeds, and certain cash crops with low water requirements were grown. The farmers started growing high-yield varieties of crop and the cropping pattern of the village was changed. Hazare has helped farmers of more than 70 villages in drought-prone regions in the state of Maharashtra since 1975.^[31] When Hazare came in Ralegan Siddhi in 1975 only 70 acres (28 ha) of land was irrigated, Hazare converted it into about 2,500 acres (1,000 ha).^[25]

The Government of India plans to start a training centre in Ralegan Siddhi to understand and implement Hazare's watershed development model in other villages in the country.^[32]

Milk production

As a secondary occupation, milk production was promoted in Ralegan Siddhi. Purchase of new cattle and improvement of the existing breed with the help of artificial insemination and timely guidance and assistance by a veterinarian resulted in an improvement in the cattle stock. Milk production has increased. Crossbreed cows are replacing local ones which gave a lower milk yield. The number of milk cattle has also been growing, which resulted in growth from 100 litres (before 1975) to around 2,500 litres per day. The milk is sent to a co-operative dairy (Malganga Dairy) in Ahmednagar. Some milk is given to Balwadi (kindergarten) children and neighbouring villages under the child nutrition program sponsored by the Zilla Parishad.^[33]

From the surplus funds generated, the milk society bought a mini-truck and a thresher. The mini-truck is used to transport milk to Ahmednagar and to take vegetables and other produce directly to the market, thus eliminating intermediate agents. The thresher is rented out to farmers during the harvesting season.^[11]

Education

In 1932, Ralegan Siddhi got its first formal school, a single classroom primary school. In 1962, the villagers added more classrooms through community volunteer efforts. By 1971, out of an estimated population of 1,209, only 30.43% were literate (72 women and 290 men). Boys moved to the nearby towns of Shirur and Parner to pursue higher education, but due to socioeconomic conditions, girls could not do the same and were limited to primary education. Hazare, along with the youth of Ralegan Siddhi, worked to increase literacy rates and education levels. In 1976 they started a pre-school and a high school in 1979. The villagers formed a charitable trust, the Sant Yadavbaba Shikshan Prasarak Mandal, which was registered in 1979.^[34]

The trust obtained a government grant of 400,000 (US$8,920) for the school building using the National Rural Education Programme. This money funded a new school building that was built over the next two months using volunteer labour. A new hostel was constructed to house 200 students from poorer sections of society. After the opening of the school, a girl from Ralegan Siddhi became the first female in the village to complete her Secondary School Certificate in 1982.^[35] Since then the school has been instrumental in bringing in many of changes to the village. Traditional farming practices are taught in this school in addition to the government curriculum.^[17]

Removal of untouchability

The social barriers and discrimination that existed due to the caste system in India have been largely eliminated by Ralegan Siddhi villagers. It was Anna Hazare's moral leadership that motivated and inspired the people of Ralegan Siddhi to shun untouchability and discrimination against the Dalits. People of all castes come together to celebrate social events. Marriages of Dalits are held as part of community marriage program together with those of other castes. The Dalits have been integrated into the social and economic life of the village. The upper caste villagers have built houses for the lower caste Dalits by Shramdaan, Sanskrit for voluntary work without payment, and helped to repay their loans to free them from their indebtedness.^{[36][37][34][38]}

Collective marriages

Most rural poor get into a debt trap as they incur heavy expenses at the time of marriage of their daughter or son. It is an undesirable practice but has almost become a social obligation in India. Ralegan's people have started celebrating marriages collectively. Joint feasts are held, where the expenses are further reduced by the Tarun Mandal taking responsibility for cooking and serving the food. The vessels, the loudspeaker system, the mandap, and the decorations have also been bought by the Tarun Mandal members belonging to the oppressed castes. From 1976 to 1986, 424 marriages have been held under this system.^[34]

Gram Sabha

The Gandhian philosophy on rural development considers the Gram Sabha as an important democratic institution for collective decision making in the villages of India.^[39] Hazare campaigned between 1998 and 2006 for amending the Gram Sabha Act, so that the villagers have a say in the development works in their village. The state government initially refused, but eventually gave in due to public pressure. As per the amendments, it is mandatory to seek the sanction of the Gram Sabha (an assembly of all village adults, and not just the few elected representatives in the gram panchayat) for expenditures on development works in the village. In case of expenditure without the sanction of the Gram Sabha, 20% of Gram Sabha members can lodge a complaint to the chief executive officer of the zilla parishad (the district-level governing body) with their signatures. The chief executive officer is required to visit the village and conduct an inquiry within 30 days and submit a report to the divisional commissioner, who has the power to remove the sarpanch or deputy sarpanch and dismiss the gram sevak involved. Hazare was not satisfied as the amended Act did not include the right to recall a sarpanch. He insisted that this should be included and the state government relented.^[28]

In Ralegan Siddhi, Gram Sabha meetings are held periodically to discuss issues relating to the welfare of the village. Projects like watershed development activities are undertaken only after they are discussed in the Gram Sabha. All decisions like Nashabandi (bans on alcohol), Kurhadbandi (bans on tree felling), Charai bandi (bans on grazing), and Shramdan were taken in the Gram Sabha. Decisions are taken in a simple majority consensus. The decision of the Gram Sabha is accepted as final.

In addition to the panchayat, there are several registered societies that take care of various projects and activities of the village. Each society presents an annual report and statement of accounts in the Gram Sabha. The Sant Yadavbaba Shikshan Prasarak Mandal monitors the educational activities. The Vividh Karyakari Society gives assistance and provides guidance to farmers regarding fertilizers, seeds, organic farming, and financial assistance. The Sri Sant Yadavbaba Doodh Utpadhak Sahakari Sanstha gives guidance regarding the dairy business. Seven co-operative irrigation societies provide water to the farmers from cooperative wells. The Mahila Sarvage Utkarsh Mandal attends to the welfare needs of women.^[

Portfolio Navneet Singhal 9 Infra & Realty stocks

2011-08-19T09:47:00.000+05:30

Hi,

Portfolio Navneet Singhal 9 Infra & Realty stocks.

Buy these 9 stocks in the ratio given.

Out of 100 rs for Infra & Realty, please invest only 68%-69% in these 9 stocks for decent returns in next 4.5 years.

Regards,

Navneet

Black Money Holders Name revealed by wikileaks

2011-08-18T01:13:00.000+05:30

Hi,

This image is taken from http://www.newsofdelhi.com/wp-content/uploads/2011/08/Wikileaks-Black-Money-Holders-India.png

Nothing yet confirmed about its genuineness.

Will provide more update as we get more knowledge about its genuineness.

Regards….

crude oil

2011-08-12T01:00:00.001+05:30

Emailing: Nifty 8 Aug 5057 cmp channel broken downside..

2011-08-08T10:01:00.001+05:30

Your message is ready to be sent with the following file or link
attachments:

Nifty 8 Aug 5057 cmp channel broken downside..

GOLD(en) Channel

2011-07-22T09:39:00.001+05:30

Nifty 21 july 2011 channels

2011-07-21T00:29:00.001+05:30

Nifty simple charting

2011-05-04T00:35:00.001+05:30

Simple charting saying it all…

Regards

Navneet

Navneet Singhal's 14 Stock portfolio update

2011-03-30T00:41:00.000+05:30

Hi,

Original post can be read at http://navneetsinghal.blogspot.com/2011/03/investment-portfolio-navneet-singhals.html

As you can see, we have been very graced by MR Market to collect a return of Avg 8% on 9 stocks in just 9 Days.

The return in shares like DLF 15%, Airtel 13%, IBRealest 12% is phenomenal.

One should book this return for short term and wait for markets to come down again.

One can hold onto Powergrid out of these 9 stocks and book profits in 8 stocks.

8% Avg return in 9 days given by MR. Market is most welcome and we should happily grab it with both hands, knowingly that we expect SENSEX to see 13200 around levels by mid of 2011.

Regards,
Navneet Singhal

Indira Gandhi or Indira Khan or Indira Nehru ?

2011-03-22T18:37:00.001+05:30

I was having this question in my mind from past many days;- How Nehru family became Gandhi Family. Few people answered secret marriage to gandhi by Indira. Hahaha. so I thought lets google it out and I found something very interesting. Now I wonder whether Its GANDHI family or KHAN family.

Nehru-Khan-Gandhi Dynasty: Jawaharlal Nehru was the first prime minister of modern India, and he ruled the country from 1947 to 1964. He was born on 14th November 1889, to Motilal and Swarup Rani Nehru. The family belonged to a Kashmiri Brahmin tribe called ‘Pandit.’

Indira Gandhi, daughter of Jawaharlal Nehru, became prime minister of India in 1966. Mrs. Gandhi was born on November 19, 1917 to Jawaharlal and Kamala Nehru. She was named Indira Priyadarshini Nehru. She fell in love and decided to marry Feroze Khan, a family friend.

Feroze Khan’s father, Nawab Khan, was a Muslim, and mother was a Persian Muslim. Jawaharlal Nehru did not approve of the inter-caste marriage for political reasons. If Indira Nehru were to marry a Muslim she would loose the possibility of becoming the heir to the future Nehru dynasty.

At this juncture, according to one story, Mahatma Gandhi intervened and adopted Feroze Khan, gave him his last name (family name/caste name) and got the name of Feroz Khan changed to Feroz Gandhi by an affidavit in England. Thus, Feroze Khan became Feroze Gandhi.

Though Mahatma belonged to Bania/Gandhi caste (a business tribe) the proposal was acceptable to Nehru for political reasons. Indira Nehru married Feroze (Khan) Gandhi in 1942 and became Indira Gandhi, which helped her politically as daughter of Nehru (the first Prime Minister of the Indian Union) and daughter–in-law of Gandhi (the father of the nation) securing her place in the future Nehru-Gandhi dynasty.

Another story, according to Mr. Arvind Lavakare in a personal communication to author (not me), is that Feroz had a Parsi father whose surname was "GHANDI" not "GANDHI". That was made clear by an advertisement in a major English newspaper of Allahabad. It was Mahatma Gandhi who suggested to Nehru that Feroze's surname be spelt as "GANDHI" instead of the original "GHANDI". An RSS columnist wrote that "Ghandi's" mother was a Muslim, and since an offspring takes on the religion of its mother, Feroz ought to be considered a Muslim.

Indira Gandhi ruled the country from 1966 to 1984, except for a short period from 1977 to 1980.

Rajiv (Khan) Gandhi was born to Indira (Khan) Gandhi and Feroze (Khan) Gandhi. He converted to Christianity to marry Catholic Italian Sonia Miano. He became prime minister in 1984 after Indira was assassinated by her own bodyguards. He ruled the country for 5 years from 1984 to 1989. The Nehru- (Khan)-Gandhi dynasty ended as Sonia, declined to accept the power, after Rajiv was assassinated in 1991. (The non-charismatic non-leaders of Congress (I) party handed over the reins of the party to reluctant Sonia, who now leads the Congress party and soon will lead the Indian Union).

The Nehru-Khan-Gandhi dynasty and the veneration and worship of Catholic Italian Sonia Miano (Khan) Gandhi by the Congress party as well as Indian (both Hindus and Muslims) masses throughout India can be considered as great examples of Indian secularism.

The Nehru-Khan-Gandhi dynasty, revived by Sonia Gandhi, swept back to power with vengeance in 2004 elections after a brief vacation of about 15 years. Sonia Gandhi, who was born in Italy and married into the dynasty, begged her husband to stay out of politics and was drawn into it herself only when the party was in dire need of leadership.

A new generation of Gandhis arrives to save ailing party from disaster at the polls. Sonia Gandhi (55) inducted her son Rahul (34) and daghter Priyanka (33) into politics and they actively participated and won in the recent elections. A calcified, out-of-touch, visionless and nepotistic dynasty is poised once again to lead and the dynasty rule continues in the world's largest democracy, albeit with fresh and young Indo-Italian genes having Brahmin-Christian-Muslim-Parsi blood with charming faces and charisma which no other Indian can claim.

Sonia Gandhi's rise from a small-town in postwar Italy to modern India is a story of love, death and dynasty, culminating in the most sensational victory of an Italian middle class woman ever to become the kingmaker in the Indian Union of a billion people. She will run the country from behind scenes as she installs Manmohan Singh as the Prime Minister of the Indian Union, to avert a brewing foreigner-crisis and save the country.

I am not in favour of last part but atleast now I know how Jawaharlal Nehru family become Gandhi family and how they have used this "GANDHI" name for their political reasons.

Actual Gandhi family is hardly in limelight and less known to the world.

Investment Portfolio Navneet Singhal's 14 Stock portfolio

2011-03-21T02:09:00.001+05:30

Hi,

At this stage of market where our targets to the downside are still to come, we identified a portfolio where in you can start investing your money.

This is a 14 stock portfolio out of which currently only 9 stocks are chosen for buy at current market prices. we will disclose other 5 stocks as and when they are suitable for buying.

for now these 9 stocks will mean 68% value of this portfolio. Its name is Navneet Singhal's 14 Stock portfolio.

At currrent market price, these 9 shares ( 69 number) will cost you 12302 Rs.
so you can invest in multiples of 12302 rs or simple by multiplying the same number with qty of each share to keep balance in portfolio.

This is investment in future of India and we expect this to give us returns not earlier than 2014-2016.

so have a look at it, compute all risks associated with it and then only follow if it matches your style of Investment.

Regards,
CA. Navneet Singhal

2011-01-01T19:12:00.001+05:30

Hi,

A VERY HAPPY NEW YEAR 2011….

For students of Technical Analysis:-

1 Resistance becomes support and vice versa example shown in Nifty weekly chart. ( chart 1)

2 Double bottom on Nifty Daily chart tgt 6335 at least before 7 Feb 2011. (chart 2)

3 Don’t forget our previous posts.

“Till the time this gap is unfilled, we will continue to believe that a new high can come. Here is that analysis. http://navneetsinghal.blogspot.com/2010/10/sensex-tgt-13200-from-21700-on-or.html “

4 http://navneetsinghal.blogspot.com/2010/11/bse-sensex-short-term-update.html and short term support was 18845 and exact low made so far is 18954 and reversed back to 20552 Sensex high so far…

Have a look at the charts.

Thanks & Regards,

CA. Navneet Singhal

www.navneetsinghal.blogspot.com

http://www.simpletaxindia.org/2009/11/tax-benefit-on-life-insurance-premium.html

2010-11-26T15:03:00.001+05:30

http://www.simpletaxindia.org/2009/11/tax-benefit-on-life-insurance-premium.html

Question - 1: Is there any Tax Benefit on the premium I pay for my life insurance policy?

Answer - 1: Rebate is available under Section 80C of Income Tax Act, 1961. For the financial year 2009-10, the basic income tax exemption limit has been raised from Rs1,50,000 to Rs1,60,000. The exemption for women asseesees has been raised from Rs1,80,000 to Rs1,90,000, and for senior citizens it's raised from Rs2,25,000 to Rs2,40,000.

Question - 2: What are the Tax Benefits in case I opt for a Pension Plan?

Answer - 2: Under Section 80CCC, where you have paid premiums for any pension plan, you will receive pension from a fund referred to in Section 10(23AAB). You will be able to avail a deduction of up to Rs 100,000 from the total income.

Question - 3: After the maturity of my policies, will the maturity proceeds be taxable?

Answer - 3: Please note that the maturity proceeds of life insurance policies are not taxable. Under pension plans, you can even withdraw up to one-third of the total maturity amount in cash and the same would be tax-free.

Question - 4: If I pay the premium on policy for my wife/husband, can I claim Tax benefits?

Answer - 4: Life insurance premium paid by you for your wife/husband's policy qualifies for a deduction under Section 80C of the Income Tax Act, 1961. For financial year 2009-10, an assessee, being an individual or Hindu Undivided family (HUF) are entitled to additional relief under Section 80D.

File online ITR-1 or ITR-2 FY 09-10 @Rs 119/-

READ MORE FROM HERE Life Insurance premium paid on wife's Policy eligible for tax rebate?

Saving under 80c whose name can be done?

DEDUCTION U/S 80D MEDICLAIM POLICY

Question - 5: If I stop paying premiums on my life insurance or pension policies, can I claim Tax Benefits?

Answer - 5: If you stop premium payments of your policy, it amounts to discontinuation of the policy and qualifies for Income Tax. In this case you cannot claim any tax benefits. In case you discontinue your premiums after paying for 2 years from commencement of your policy, no tax deduction is allowed on premium paid in the year when policy terminates. The amount of tax deduction allowed on the premium paid in the preceding year, is also taxable in the year when policy terminates.

Question - 6: If I purchase a Unit Linked Insurance Plan (ULIP) and I choose to discontinue my policy, can I claim any tax benefits?

Answer - 6: If you chose to discontinue a Unit Linked Insurance Plan before paying for 5 years from commencement of policy, you are not entitled to any tax benefits.

Question - 7: What are the Tax benefits available on medical insurance premiums?

Answer - 7: In computing the total income of an individual or HUF, any sum paid by any mode other than cash out of his income chargeable to tax (i) to effect or to keep in force an insurance on the health of the individual, his or her spouse or dependant children or member of HUF, and (ii) to effect or to keep in force an insurance on the health of the parent or parents of the individual upto Rs.15,000 each of (i) and (ii) in the previous year and in case the person is a senior citizen upto Rs.20,000 each of (i) and (ii) in the previous year shall be allowed on a deduction.

Question - 8: Can I claim tax benefit on interest on loan taken against insurance policy for purchase/construction of house?.

Answer - 8: Interest on loans taken against an insurance policy is allowed as a deduction from income chargeable under the head “Income from house property” provided the amount of loan is used by the policyholder to acquire/construct /reconstruct/repair or renew any property

Question - 9: Is Service Tax applicable on ULIP products?

Answer - 9: "Service tax is applicable, on the risk cover & fund related charges towards management of investments of Unit Linked Insurance Products included in life insurance premium in accordance with Section 65(105)(zx) of Finance Act 1994, as amended by Finance (No.2) Act 2004 and Section 65(105)(zzzzf) of Finance Act 2008 (inserted w.e.f. May 16,2008) respectively, at the applicable rates and the same would get deducted by way of cancellation of units. The risk cover includes charges towards mortality/morbidity while the fund related charges shall include premium allocation, policy administration, fund management, switching, partial withdrawal and redirection charges which are levied for services provided by the insurer to the policyholder in relation to management of investments under unit linked insurance business."

FAQ ON TAX SAVING DEDUCTIONS....

2010-11-26T14:55:00.001+05:30

FAQ ON TAX SAVING DEDUCTIONS....

Below mentioned article is taken from the above link and written by CA. Sanat Pyne. I am sharing it here along with text and link so that this knowledge is not only spread across but also saved here at our blog for future reference as well. THANKS CA. Sanat Pyne.

1. What is a tax deduction?

A tax deduction is simply an item that helps you reduce your taxable income by the amount of the deduction. So by utilizing that particular deduction, you can reduce the amount of income tax by reducing the amount of your taxable income.

For example: If you have a taxable income of Rs. 2,50,000 for the financial year, and you invest Rs. 70,000 in PPF and Rs. 30,000 in Equity Linked Savings Schemes, then your taxable income is: Gross Taxable Income: Rs. 2,50,000

Deductions:

PPF: Rs. 70,000

ELSS: Rs. 30,000

Total Deductions: Rs. 1,00,000

Net Taxable Income: Rs. 1,50,000

2. How can I save tax using different tax deductions?

There are different tax deductions available to an individual under different Sections of the IT Act. Section 80C for example has a deduction limit of Rs. 1 lakh per annum.

You can save tax by making use of the various deductions available to you under different sections of the IT Act i.e. investing in these instruments.

3. What are the investment avenues available under Section 80C?

The specified investment schemes under section 80C are:

a. Life Insurance Premiums

b. Contributions to Employees Provident Fund (EPF)

c. Public Provident Fund (PPF)

d. National Savings Certificates (NSC)

e. Unit Linked Insurance Plan (ULIP)

f. Repayment of Housing Loan (Principal)

g. Equity Linked Savings Scheme (ELSS) of Mutual Funds

h. Fixed Deposit (FD) with Banks having a lock-in period of five years

i. Pension Funds

4. Does Section 80C include Section 80CCC and 80CCD?

Yes. The total deduction available under Section 80C is Rs. 1 lakh, inclusive of Section 80CCC and Section 80CCD. These two sub sections are to do with pension. Under Section 80CCC, you can invest up to Rs. 1 lakh in a Pension fund of LIC of India or any other insurance company. Under Section 80CCD you can invest in the National Pension Scheme of the Central Government up to 10% of your salary. Any contribution to this scheme of more than 10% of your salary will not be eligible for tax deduction.

5. What is the limit for Section 80CCF: Long Term Infrastructure Bonds?

An additional deduction of Rs. 20,000 has been introduced by way of investment into long term infrastructure bonds.

Here, any investment made into the specified long term infrastructure bonds between April 1st, 2010 and March 31st, 2011 will be eligible for a tax deduction up to Rs. 20,000.

This is in addition to the Rs. 1 lakh deduction available under Section 80C.

6. How does Life Insurance Premium payment contribute to Section 80C investment?

An amount up to Rs. 1 lakh that you pay towards life insurance premium for yourself, your spouse or your children can be included in Section 80C deduction and reduced from your taxable income.

If you are paying premium for more than one insurance policy, all the premiums can be included, subject to the limit of Rs. 1 lakh.

a. Can I include life insurance premiums paid for my parents?

No. Life insurance premium paid for your parents or your in-laws is not eligible for deduction.

b. Does this apply to all life insurance products such as endowment, money back, term plans, ULIPs etc?

Yes. Any premium paid for any life insurance in any life insurance product is eligible for tax deduction under Section 80C.

Also note that any sum, including the bonus, received on maturity of a life insurance policy is tax free. Death benefits received are also exempt from tax.

Most importantly, remember to invest in a life insurance policy only if you need it, and not for the tax benefit. If you opt for it keeping in mind the tax benefit, you may end up being under-insured or possibly over-insured.

7. How do I save tax by contributing to general provident fund?

The GPF is a scheme intended to help government employees and deducted from their salary every month.

An employee can withdraw or take advances from the available fund.

SUMMARY OF GENERAL PROVIDENT FUND

Return (p.a.) :8 %

Risk: NIL

Lock In :Working Life

Income from Investment Interest earned is Tax Free

8. How do I save tax by contributing to the Public Provident Fund (PPF)?

PPF is eligible for tax deduction up to Rs. 70,000. So any amount up to Rs. 70,000 invested towards your PPF account will be eligible for tax deduction. The minimum investment in PPF is Rs. 500 per year and the maximum investment is Rs. 70,000 per year.

The unique feature of PPF is that in case of insolvency it will not be attached to the assets of the insolvent. So this is an attractive tax saving tool for business people in fluctuating and highly leveraged businesses. Withdrawals from your PPF account are allowed during certain years for specific purposes.

SUMMARY OF PPF DETAILS

Return (p.a.) :8.0%

Risk :NIL

Lock In : 15 years

Income from Investment Interest earned is Tax Free

Maturity Proceeds Exempt from tax.

NRI/PIO eligible :No

9. How do I save tax by investing in the National Savings Certificate (NSC)?

NSC is a good medium term investment option. An advantage of the NSC is that it can be pledged as security against a loan to banks/ government institutions.

The minimum investment starts from Rs. 100 and there is no maximum limit for the investment in a year.

Return (p.a.) 8.0% compounded half-yearly, i.e., the effective annual rate of interest is 8.16%.

Risk :NIL

Lock In :6 years

Income from Investment • Interest accrued every year is liable to tax (i.e., to be included in your taxable income).

• However, interest is also deemed to be reinvested and thus eligible for section 80C deduction.

Maturity Proceeds It includes interest which is already taxed

NRI/PIO eligible :No

10. How do I save tax by taking a Unit Linked Insurance Plan (ULIP)?

Unit-Linked Insurance Plan (ULIP) is life insurance solution that provides for the benefits of risk protection and flexibility in investment. Part of the premium you pay goes towards the sum assured (amount you get in a life insurance policy) and the balance will be invested in whichever investments you choose as per what is available under the scheme - equity, debt or a mixture of both.

SUMMARY OF ULIP DETAILS

Return (p.a.) :Market linked

Risk Market and Fund manager risk

Lock In :5 years

Income from Investment: N.A.

Maturity Proceeds • Exempt under Section 10(10)D for any sum received from insurance policy as maturity proceeds. Death benefits are exempt from tax.

• However for ULIPs the maturity benefit is tax free only if the premium paid per year is less the 20% of the life insurance cover. In other words the life cover has to be at least 5 times the premium.

NRI/PIO eligible :Yes

11. How can I use my home loan to save tax?

The EMI (equated monthly installment) that you pay to repay your home loan consists of two components - one is the principal and the other is the interest. The principal component of the EMI qualifies for deduction under section 80C.

Even the interest component can save you significant income tax - but that would be under Section 24 of the Income Tax Act. Currently, anybody with a housing loan gets a deduction up to Rs. 150,000, paid as interest for the loan, from his total income, for a self occupied property.

12. How do I save tax by investing in Equity Linked Savings Schemes (ELSS)?

Investment in ELSS is considered to be one of the best option to save tax because of many reasons like low expenses, short lock-in period, high liquidity and high growth in long-term. Year 2008 and 2009 had been extremely volatile. Still, many mutual funds have delivered positive return in past 3 years.

The limitations in ELSS are that premature withdrawal is not allowed. There is a 3 year lock in period. Also ELSS returns are not guaranteed as they are market linked investments.

SUMMARY OF ELSS DETAILS

Return (p.a.) :Market linked

(The last 5 years' return from ELSS has been approximately 20% compounded annually)*

Risk Market and Fund manager :risk

Lock In :3 years

Income from Investment Basically, dividend which is Tax Free

Maturity Proceeds Long term capital gain on sale of equity oriented mutual fund is tax free.

NRI/PIO eligible :Yes

13. How do I save tax by investing in the 5 Year Bank FD?

A fixed deposit is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of 15 days to five years and above. Investor gets a lump sum (principal + interest) at the maturity of the deposit.

The 5-year tax-saving bank deposit gives tax benefit under Section 80C as the amount you invest in the 5 year FD is deducted from your taxable income.

However interest received on the FD is taxable.

SUMMARY OF 5 YR BANK FD DETAILS

Return (p.a.) Typical interest rate is 8.00 to 8.50% with an additional 0.25 to 0.5% for senior citizens. The interest rate varies between banks and with time.

Risk NIL

Lock In 5 years

Income from Investment Interest received is taxable

Maturity Proceeds Includes interest which is already taxed

NRI/PIO eligible :Yes

14. How do I save tax using the New Pension Scheme?

This is a new, market-linked vehicle for those who do not have an EPF facility to target long-term retirement planning. It is open to any Indian citizen between the age of 18 and 55. Minimum investment is fixed at Rs. 6,000 p.a.

The NPS offers two accounts: tier I and tier II. This is a non-withdrawable account and investments in this keep accumulating till you turn 60.

SUMMARY OF NEW PENSION SCHEME DETAILS

Return (p.a.) :Market Linked

Risk :Market and Fund Manager Risk

Lock In :Till age of 60

Income from Investment :N.A.

Maturity Proceeds • Tax will be levied if you withdraw the money on maturity

• You can save paying tax by transferring the entire corpus to an annuity service provider and receiving a pension

NRI/PIO eligible: No

15. How do I save tax by investing in the Senior Citizens Savings Scheme (SCSS)?

It allows a retired person having a lump sum to invest it at a reasonably good interest rate. If you are 60 years old (or took voluntary retirement at 55), you are eligible for the scheme.

Minimum Investment under the scheme is Rs. 1,000 and maximum Rs. 15 lakhs.

The amount invested into SCSS is eligible for tax deduction under Section 80C thus reducing your taxable income in the year of investment.

This is a popular investment with senior citizens as it offers liquidity as well as periodic income – interest is paid out quarterly.

SUMMARY OF SCSS DETAILS

Return: (p.a.) 9%

Risk :NIL

Lock In :5 years (May be extended for another 3 years at the option of depositor)

Income from Investment :Fully taxable

Maturity Proceeds :Maturity proceeds includes interest which is already taxed every year

NRI/PIO eligible :No

16. How do I save tax by investing in the 5 Year Post Office Time Deposit (POTD)?

POTDs are similar to bank fixed deposits.

Although available for varying time duration like one year, two year, three year and five year, only 5-Yr post-office time deposit (POTD) qualifies for tax saving under section 80C.

The current rate of interest on the 5 year POTD is 7.50% p.a., compounded quarterly. The minimum investment amount is Rs. 200, there is no maximum investment amount. Interest on these deposits is calculated quarterly and paid out annually.

Return (p.a.) Effective 7.71% as interest is compounded quarterly

Risk NIL

Lock In :5 years

Income from Investment :Fully taxable

Maturity Proceeds Maturity proceeds includes interest which is already taxed every year

NRI/PIO eligible :No

17. How do I save tax by taking a Pension Plan?

Today pension plans are available with all life insurance companies. They typically come without any life cover (zero death benefit).

Pension funds are exempted under Section 80CCC, this section stipulates that an investment in pension funds is eligible for deduction from the income.

Section 80CCC investment limit is clubbed with the limit of Section 80C which means that the total deduction available for 80CCC and 80C is Rs. 100,000. This also means that your investment in pension funds up to Rs. 100,000 can be claimed as deduction under section 80CCC.

Of the maturity amount only one-third can be commuted in cash as tax free maturity. The rest of the amount (or the full amount as the case may be) has to be used to by a pension plan (annuity). Pension receipts from the same will be treated as income in the hands of the assessee and taxed accordingly. Recently, the Insurance Regulatory and Development Authority (IRDA) has come out with a clear rule that maturity amount should not be withdrawn as cash this is coming to effect from July 1, 2010. Currently, the maturity amount can be withdrawn as cash but the amount will be added to income and will be taxed accordingly.

BSE SENSEX short term update.

2010-11-22T00:00:00.000+05:30

Hi,

Have a look at the below chart of BSE SENSEX.

BSE Sensex Daily Chart showing Negative Divergence where prices are making new highs while MACD is not.

As you have see the above chart, now have a look at similar formation in DOW Jones. The chart is posted at the following link :-
http://dowjonesusa.blogspot.com/2010/11/dow-jones-21-nov-2010.html

These two charts are very similar and suggest support around the trendline which earlier acted as Resistance for Sensex but is expected to act as support line for time being. For Sensex this support is around 18845 around levels.

Now another chart.

BSE Sensex Weekly chart with 3 Gaps open till date. Latest gap 18823-18845 is the nearest one to be tested for support.

The above Weekly chart of BSE Sensex shows 3 weekly Gap up which are still open. The latest Gap and nearest one is 18823-18845 which is about to be tested for supports.

Even the current A, B, C (3-3-5) Structure is showing 261.8% target as 18845 around levels.

Till the time this gap is unfilled, we will continue to believe that a new high can come. Here is that analysis. http://navneetsinghal.blogspot.com/2010/10/sensex-tgt-13200-from-21700-on-or.html

Also the big picture http://navneetsinghal.blogspot.com/2010/09/nifty-current-wave-scenario-probability.html

Regards,
CA. Navneet Singhal

Onmobile BUY n Forget cmp 335

2010-10-29T15:28:00.000+05:30

Hi,

We recommend value buy on ONMOBILE at cmp 335 for target 450 + in medium term and 700 + in 3 years.

One can add it to our Portfolio, update on the same will follow soon.

Thanks & Regards
CA. Navneet Singhal

SENSEX TGT 13200 FROM 21700 ON OR BEFORE JUNE 2011.

2010-10-04T13:48:00.000+05:30

Hi,

Here is our latest update on Indian Markets.

Below are 3 monthly charts of Sensex for year 1992, 2000 and 2008.

If you remember 8 year cycle theory which was posted many times earlier on our blog then you will understand and will agree with my views easily.

I know that in recent past, we failed to predict the new highs so early and you can doubt our this prediction as well, but then I remember that story of Goats and shepherd who used to shout "wolf, wolf" and all time he was kidding but when he was not kidding, no one believed it. so I know many of you might not believe it but yes I expect that this below analysis will make a breakthrough as its based on simple and 1st principle of Technical Analysis " HISTORY REPEATS ITSELF".

I have labeled everything on charts so you can read them thru here and its simple to understand.

we are revising our targets BUT OUR MAJOR VIEW OF A BIG CORRECTION holds same and below analysis shows its reasons as well..

Other than below mentioned reasons, many other reasons have been posted many times in recent past ( which now seems that they were early signals ) remember with this markets we are also learning for next times to come as History will again repeat itself.

here is the new finding.

so this market can (90% chance) make new high above 21207 +1-2 % ( that is 21700 around)
and then fall upto 13200 around which will be retracement of 61.8% of current rally.
Time frame can be 4-8 months on basis of past data.

Your views and comments are most welcome and if you can find something more which I might have missed out in this analysis then please let me know.

Regards,
Navneet Singhal

Nifty 17the Rank Open Interest BEWARE...

2010-09-21T01:28:00.000+05:30

Hi there bulls........ :)

I know how you feel about the current uptrend.

My duty is to show the light & unless you reject my opinion, I now I have less chance of winning.

so here is something on Open interest from the Author MARTIN PRING.

Rules of Open Interest

Now, there are certain rules to open interest that must be understood and remembered. They have been written in many different publications, so here I have included an excellent version of these rules written by chartist Martin Pring in his book "Martin Pring on Market Momentum":

If prices are rising and open interest is increasing at a rate faster than its five-year seasonal average, this is a bullish sign. More participants are entering the market, involving additional buying, and any purchases are generally aggressive in nature. (PUBLIC IS COMING IN )...

If the open-interest numbers flatten following a rising trend in both price and open interest, take this as a warning sign of an impending top. (YET TO HAPPEN, BUT IT NORMALLY DOESNT GIVE A CHANCE).

High open interest at market tops is a bearish signal if the price drop is sudden, since this will force many 'weak' longs to liquidate. Occasionally, such conditions set off a self-feeding, downward spiral. (YET TO HAPPEN AS VICIOUS CYCLE).

An unusually high or record open interest in a bull market is a danger signal. (THAT'S WHAT IS HAPPENING AND I AM WARNING)...

When a rising trend of open interest begins to reverse, expect a bear trend to get underway. (ITS GONNA BE NEXT PART OF THIS MOVIE)...

With this, Nifty's Open Interest has reached today at 45.26 million which stands now at 17 rank in history of NIFTY highest Open Interest.

Thanks & Regards,
CA. Navneet Singhal