SONU

Congress will wait till bypolls end

2011-08-08T13:37:00.002+05:30

Jagan's supporters say that Rosaiah will eventually give in but will try and hold on to power for however long he can.

However, Congress leaders point out that everything will remain quiet and none of their leaders will speak about it in the open until the Telangana by-polls are over.

Currently, the Telangana sentiment is running high. But at the same time, the Congress is aware of the support Jagan's father enjoyed in certain parts of the region.

If Jagan is able to sustain it, then his place as a top leader in the Congress will cemented, they point out.

'Everyone associates Jagan with his father'

2011-08-08T13:36:00.003+05:30

A state Congress MLA says that most of Jagan's supporters have worked behind the scene to ensure that the yatra turns out to be a success.

Although it is being said that the yatra is non-political, in the long run it benefits the Congress, he says, adding that the crowds have come out in large numbers and each one associates Jagan with his father who they all know was a Congress leader.

The Jagan camp says that the stand of the state Congress camp will be clear in a couple of days. Jagan enjoys the support of 80 per cent of the Congress leaders over his main opponent and state chief minister, K Rosaiah.

A message for the supporters

2011-08-08T13:36:00.000+05:30

Jagan's camp says that 80 per cent of the state Congress is with them and it is just a matter of time before they come out in the open and speak in his favour.

They are just playing a wait and watch game and will come out in the open once the high command finally realizes that Jagan is the leader in Andhra Pradesh, the aide said.

Meanwhile, the Sakshi news channel run by Jagan showed a message by him to YSR's fans on the occasion.

"I have been asked to give a message on the occasion of my father's birth anniversary by his well-wishers from abroad. I am happy you are celebrating my father's birthday. Mahatma Gandhi said 'my life is a message to the nation to see'."

"Our leader Rajasekhara Reddy also belonged to the same league. His life is a message to the state of Andhra Pradesh. The way he lived and his affectionate way of wishing people is a message. I learnt a lot from him. One who spoke to him just once can learn a lot from him. I thank each one of you with folded hands for your love and affection," he said in the message

'I do not feel lonely'

2011-08-08T13:34:00.000+05:30

The young leader unveiled a statue of late Rajasekhara Reddy on the occasion of his father YSR's birth anniversary. He later paid tributes to his father at the 'Vijaya Vatika', which was built to mark the culmination of the state-wide 'padayatra' undertaken by Rajasekhara Reddy ahead of 2004 assembly elections.

Speaking on the occasion, Jagan said he does not feel lonely, as his father had given him a huge family that comprised the whole of Andhra Pradesh.

Later, he left for Loddaputti village to console the family of Pyla Chandramma who died following the death of death of his father last year.

Security personnel had a very difficult time

2011-08-08T13:31:00.002+05:30

Jagan, hanging out from his vehicle's open door waved his hands at the people as crowd, specially of youth surged towards him to touch him and garland him. Security personnel had a very difficult time to control the crowds and make the vehicles move.

Jagan, who kickstarted his yatra by paying tributes to his late father Dr Rajasekhara Reddy, is confident that the Congress will ultimately support him.

He realizes the importance of being in the party and under no circumstance will even think of forming another party unless the high command acts in a haphazard manner, a close aide touring

Thousands turn up for Jagan's yatra

2011-08-08T13:30:00.000+05:30

Brushing aside reservations of the party high command, Congress MP Y S Jagan Mohan Reddy on Wednesday resumed his controversial 'Odarpu yatra' in Srikakulam district of Andhra Pradesh.

The roads and streets in Ichapuram town of Srikakulam, where Jagan started his yatra on the occasion of his father YS Rajasekhara Reddy's birth anniversary, turned in to a sea of humanity as boisterous crowds gathered outside the railway station to receive the young leader.

They also lined up the entire route of Jagan's procession.

Completely ignoring the directions of party high command, Jagan's condolence tour was turned in to a colourful road show with his supporters carrying Jagan's photographs. His cutouts were also put up at many places.

Sega Movie Review

2011-08-06T18:18:00.000+05:30

Sega Story

The story opens in North Chennai slums where two young boys are left lonely from their family. A noble person Sekhar takes care of both the brothers and they grow big in a decent way. Sekhar takes care of elder brother Balaji (Muthukumar) and his sibling Karthik (Nani) and makes them study.

Karthik spend most of his time with his close friend Vishnu (Karthik Kumar) who hails from the same locality and maintains a bike workshop. As years pass by Revathy who works at a Xerox shop and also the daughter of Sekhar falls in love with Karthik. Meanwhile Jothi turns as a pimp and works with drug dealer Ammaji (Jennifer) in the same area.

At one point Vishnu meets Vani (Bindu Madhavi) who is a call girl and falls in love with her. Knowing that Vishnu is in love with Vani, Jothi decides to use him for his drug dealings. He assigns him a task of transporting drugs to Pondicherry and Karthik also joins him in this dealing. Vishnu accepts to take up this deal as he wants to take Vani from that place. But at one point of time Vishnu comes across the truth that it was a plan by Jothi to bump him off and he returns to Chennai. It was on the same night Vishnu gets killed and the guilt falls on Karthik as he accompanied him.

How Vishnu was killed? What are the circumstances that lead to Vishnu’s murder? What was Karthik doing when Vishnu was killed? Is Karthik the real culprit? If not how will he prove that he didn’t kill Vishnu? What is the situation of Viji? You can get the reply for all these questions on the big screen.

Performances:

Nani is completely natural while playing the character of Karthik. He has shown different variations like a brother, lover and also a close friend to Vishnu in the best way possible.

Karthik Kumar as Vishnu did his best.

Nithya Menon performed well on her limits but her character has a limited scope while Bindu Madhavi is the show stealer as she got into the skin of the character of a prostitute.

Muthu kumar is fine. Rest of the casts were adequate.

Technicalities:

Music by Joshua Sridhar is melodious and soothing. Three songs are good to the ears and blend with the storyline. Joshua’s music is said to be the highlight of the film. Cinematography by Om Prakash is very smooth and certainly he created magic with his visuals. Dialogues are mediocre. Editing by Anthony is adequate bit could have been better in the second half. Art department is upto the mark.

Debutant director Anjana Ali Khan has come up with a good storyline and she needs to be commended for taking up such realistic subject on the dark side of drugs and prostitution. However, the problem with Sega is it lacks in its narration due to the slow-paced screenplay.

Analysis:

Sega is made with the backdrop of North Madras showcasing the dark side of drugs and Prostitution. However, you don’t get a particular clarity as Sega is strictly related to which genre? A dark film or a love story or a thriller? The story is a bit confusing. The first half has nothing to offer except some breezy moments with a thin storyline while the entire second half moves on a predictable note which takes away the interest of the audiences. Predictable story, confusing narration and ineffective direction played as a spoilsport for Sega.

Final Verdict

Watch it at your own risk!!!

Ram Charan to Marry this Yearend?

2011-08-06T17:58:00.000+05:30

Mega Power Star Ram Charan is likely to tie knot this yearend.

With the Mega family visiting Prathap Reddy’s (Chairman of Apollo hospitals) family a few days ago, the buzz about engagement between Upasana Kamineni and Ram Charan is spreading like a wild fire. Upasana is granddaughter of Prathap Reddy. She is the Vice President of Apollo Philanthropy & Editor of BPositive magazine.

A reliable source said that Mega Family and Reddy’s family discussed about the nuptials which is expected this yearend.

The source added that Ram Charan wanted to wait for two more years but it is his father who insisted saying that it is the right time for Ram Charan to marry.

Soon after Allu Arjun's marriage to Sneha Reddy, rumors were rife that Chiranjeevi would take the cue and finally agree to Cherry marrying his childhood friend Upasana, the granddaughter of Dr Prathap C Reddy, founder-chairman, Apollo Hospitals. Seems like Chiranjeevi has yielded to the young star's wishes.

100% Love Movie Review

2011-08-06T14:33:00.001+05:30

Story:

100% Love Balu (Naga Chaitanya) is a brilliant student and always tops his class. Maha Lakshmi (Tamanna) is maradalu of Balu and she comes from village and stays in Balu’s house to do her graduation in the same college. Balu has the typical ego possessed by state rankers and he is obsessed by it. His studies get disturbed with the entry to Maha Lakshmi as she starts dominating him over a period of time. This leads to differences and ego clashes between Balu and Maha Lakshmi. There is also a subplot of two separated grand parents. The rest of the story is all about how Balu and Mahalakshmi realise that they are made for each other.

Artists Performance:100 percent love Naga Chaitanya: Naga Chaitanya who has done the role of an intense lover in YMC follows it up with a fun-filled character of Balu with a mental complex in 100% Love. He wore spectacles and a light beard and it suited the character very well. It is tailor-made character for him. His diction and accent is also changed in this film and it sounds little like that of Allu Arjun.

100% LoveTamanna: Tamanna looks fabulous in the movie. Her traditional hairdo in the beginning of the movie is not attractive, but she is gorgeous when she lets her hair loose in the latter part of the movie, She is an asset to the movie. Sukumar has shown bias towards heroine character in this movie as he etched her role as a magnanimous, understanding and empathising girl.

100 percent loveOthers:KR Vijaya and Vijay Kumar did the role of grandparents. There are around 10 kids who entertain you will their mischief and innocence in the first half. Satyam Rajesh did a cameo and it is really good. MS Narayana did his second most preferred character (after drunkard) - college principal. Anand and Tara Alisha are good as beaus of lead pair. Naresh and Dharmavarapu Subramanyam are okay.

Technical departments:100% LoveStory - screenplay - direction: Looks like Sukumar is carrying his school-day memories all along. The entire writing for the first half of the movie is taken from the college life and is wrote in a realistic, yet entertaining way. Sukumar brought the family angle in the second half to bring all-roundness to the commercial aspect of the script. The basic conflict of this movie is driven by the complexity of the male lead. Heroine character that enters as a nobody into the life of hero starts getting mature, intelligent, magnanimous and sexy as the story progresses. Sukumar is in his elements with 100% Love movie. He has also toned down the eccentricity he has shown in Arya 2 hero characterization to make 100% Love hero character an universally acceptable one. There are a few redundant and dull moments in the second half, but he managed to get everything right in the scenes that followed. Sukumar’s creativity is wild, and it if it’s kept under permissible limits - he is going to do wonders. The only unconvincing part for me in the script is the separation of grandparents, which forms the central point of the movie. Screenplay penned by J Hari Prasad is good. I liked the way the story is narrated from point of view of hero in the first half and the point of view of heroine in the second half.

100 percent loveOther departments: Music by Devi Sri Prasad is superb. All songs are good. They are so good that I expected so much out of the picturization of the songs. The only song that completely satisfied my expectations is whistles-worth ‘diyyalo’. The second best is ‘Infatuation’ song followed by ‘A square’. Devi Sri Prasad has also excelled in the background score (the clucking sound of a hen/chicken used as bgm for chicken-eating episodes). Cinematography is decent. But there is no vibrancy in visuals. There could be a problem with lighting, photography, color-grading or visual effects (or the projection system in theater). This movie would have been really cool if the visuals are more vibrant (like Arya movie). Editing is fine. There is only one fight in the movie which is composed by Ram Lakshman. Pixelloid who are usually brilliant with their work should have taken more time in the visual effects as they look little patchy in the first song. The first time producer Bunny Vaas has done a neat job in assembling the best of the team to deliver a nice product. However, he should have invested more time/effort on the visuals output of the movie.

100% LoveAnalysis:I always have a feeling that movie quality/passion will be reflected in the title cards. And Sukumar never disappoints. The title cards of this movie are one of the best I had seen in Telugu films. First half of the movie is full of fun and frolic. Second half has family orientation and goes on a routine track. This movie is all about little nuances about psychology and fun. Plus points are Sukumar’s creative thinking and music. There are a few dull moments in the second half, but they are not going to disturb the flow of the movie. The negative shade in hero characterization might not appeal to a few. On a whole, 100% Love is a cool film with nice entertainment. Go and watch it 100%.

Trade talk: This movie is made on a budget of 10.5 crores. 40% of it is recovered through the sale of satellite and audio rights. Nizam, East and West territories are retained by the producer and the rest are sold at a reasonable prices. With it’s entertainment quotient and youth(1st half)/family(2nd half) orientation, 100% Love is likely to get profits to everybody involved in the supply chain (producer, distributor and exhibitor).

180 Movie Review

2011-08-06T13:31:00.001+05:30

Story:

180 Manu (Siddharth) lands in Hyderabad and starts living in a rented house. He keeps helping the people around and gets noticed by a curious photo journalist (Nitya Menen). He looks mysterious, but she falls for his charm and helpful nature. The rest of the story is all about who Manu is and is about his mysterious past.

Artists Performance:

180Siddharth comes up with a natural and mature performance in the role that has got multiple shades. Priya Anand surprises you with her looks and acting prowess in this movie. She has a major portion in the movie and the director projected her from the best of the angles. Nitya Menen is natural. Mouli, Tanikella Bharani and Geetha are good in supporting roles.

Technical departments:

180Story - screenplay - direction: The basic story has reference to a couple of Telugu films. Jayendra has a refined sense of humor and it reflects very well in the first half of the movie. If you are a class film lover, you will get impressed with first half despite snail-paced narration. Jayendra has created confusion and redundancy while narrating the last half-an-hour of the movie. The last half-an-hour forms the crux of the movie. The narration and direction of the movie is suave and sophisticated. The screenplay should have been better towards the end of the movie.

180Other departments:

Since Jayendra comes from advertising field and technical background (QUBE projection), he made sure that look and feel of the film is superior. Each and every frame in this movie is like a photo frame. Music (songs and background music) by Sharath is very good. Cinematography by Bala Subramaniem is of top notch quality. The RED camera work is as good as any regular camera that is used to shoot feature films. Locations are superb. Dialogues by Anuradha Umarji are nice. The entire film looks slick in terms of visuals and sound.

180Analysis:

The director Jayendra has given a press note to all the reviewers requesting not to reveal the story in the reviews. It is pretty hard to write an analysis without revealing the story. First half of the film is nice with entertainment (though slow-paced and classy). Latter part of the second half dwells into the main story. The romance part of the film is good, but the emotional content should have been effective. The plus points of the film are casting and technical aspects (cinematography, music and postt-production). On the flip side, the narration of the film is very slow and the last half-an-hour of the film is a bit confusing. We have to wait and see how multiplex and ‘A’ center movie lovers embrace the movie.

Sonia Gandhi shifted out of ICU after surgery: Congress

2011-08-06T12:34:00.000+05:30

New Delhi: Congress president Sonia Gandhi has been shifted out of the intensive care unit (ICU) of an American hospital. She was operated upon on Thursday and remained in the ICU for 24 hours.

"Her family has expressed gratitude on her behalf for all the messages and good wishes that have been sent to her," said a statement issued by the Congress party on Saturday.

Yesterday, the party said her surgeon had indicated that her operation was successful. It did not say where the surgery was performed, but said the Congress president's son Rahul Gandhi, daughter Priyanka and son-in-law Robert Vadra were with her. The Congress has also said that, "As this is a personal matter that pertains to her health and medical treatment, her family requests that her privacy be respected."

Special prayers were held in her constituency Rae Bareli, as the political establishment came to grips with the news. In Parliament, the Sonia-effect was felt on proceedings - for example, during a discussion on Telangana, Sarve Satyanarayana, a Telangana MP, said, "Sonia Gandhi is like my mother. We wish her well."

Former Andhra Pradesh Chief Minister K Rosaiah went a step further when he called for a temporary break to the agitations over the Telangana issue in the state. "The final decision has to be taken by them (Central Government). As UPA chairperson, Sonia Gandhiji needs to give her advice. Since she is unwell, the agitators should give a temporary break to their campaign. They can voice their demands after her return," Mr Rosaiah said in Hyderabad.

Pointing out that such breaks were given even during India's independence movement, Mr Rosaiah said, "All the leaders including Sushma Swaraj have wished speedy recovery of Sonia Gandhiji. I appeal all the leaders of Telangana and other regions to observe restraint and think calmly."

But while Telangana leaders may choose to wait, the Congress faces some tough days ahead with pressing issues such as the indictment of Delhi Chief Minister Sheila Dikshit in the government auditor's report on the Commonwealth Games. Rahul Gandhi is expected to return in the next few days, but the Congress leaders are not indicating whether Mr Gandhi, and his caretaker team, will tackle these issues in Sonia Gandhi's absence.

KANCHANA MOVIE REVIEW

2011-07-26T13:25:00.000+05:30

Choreographer turned director Raghava Lawrence already surprised us with a thriller ‘Muni.’ Now comes sequel ‘Kanchana.’ With hot Lakshmi Rai and special appearance from Sarath Kumar, let us see how far Lawrence was able to shock you?

Raghava (Lawrence) is a tapori young guy scared of darkness and ghosts. He is a good cricketer living with brother (Sriman), sister-in-law or Vadina (Mano Bala) and mother (Kovai Sarala). While searching for a new ground to play cricket with his team, Raghava enters into a disturbing place where problems start. He brings home a family of three ghosts unknowingly which become scary. In this mean time, Raghava’s younger sister-in-law (Lakshmi Rai), a model enters the house and obviously romance begins.

Raghava starts to behave as a lady/eunuch wearing saris, bathing with haldi, wearing bangles. Dismayed by his behavior, Kovai Sarala approaches a Muslim Peer to confirm that Raghava’s body is invaded by three ghosts. When Peer brings out one of the ghosts, here comes the flashback.

Kanchana Movie Review

Karthik (Sarath Kumar) is a transgender (Hizra or Eunuch) thrown away by parents. With help of an old Muslim Baba, he changes to ‘she’ renaming as Kanchana working for the welfare of eunuchs. Kanchana adopts one more eunuch and admits her into doctor course. Time when Kanchana saves Rs.25 Lakhs to construct a hospital for poor, local MLA (Devan) encroaches upon this land, killing Kanchana and her entire family. All three dead bodies are buried in the same land.

This is the exact land where Raghava goes to play cricket and is caught by the evil spirit of Kanchna whose ambition is to kill MLA and his family. How did Kanchana accomplish the task using the body of Raghava forms climax?

Character of Ragahava was routine one for Lawrence while he scored distinction for portraying the terror filled Kanchana. Mannerisms are quite well caught with in his own direction. Climax song is where Lawrence was powerful n spooky. Hot Lakshmi Rai was cornered only forthe sake of songs. Kovai Sarala was too loud and can be called cacophonic. Sarath Kumar’s performance as Hizra is touching, throwing light on the social stigma of this community.

Technicalities wise direction of Lawrence most of the time succeeded in keeping the audience in attention. Story and scripting is similar to ‘Muni’ but Raghava made minor changes to introduce anxiety factor on the screen. Dialogues are not great without any lip sync. Being a dubbing movie, Lawrence should have taken care of these minor issues. Music by Thaman is babbling in background and songs wise unimpressive. Production values of Bellamkonda are okay.

Out of the Movie Kanchana: Strictly speaking Kanchana is no different from Muni. Only difference we find is a better execution from Lawrence this time added with a social issue around Eunuchs that gave scope for a better performance.

First half an hour is filled with Arava Athi which is unbearable especially in comedy episodes of Kovai, Lawrence, Mano Bala. Episodes of Lawrence taking Kovai to bath room, Mano Bala and Kovai scared of each other are peaks of frustration. Till second half, Kanchana does not actually enter into main story. Interval block was picturized well. Once the second half begins, Lawrence went on to show comedy mixed horror scenes. Entry of Sarath Kumar raised the pitch and climax is regular but drafted with grip and perfection.

Over all Kanchana have its own plus points in the form of few thrilling moments in first half and second half. It is second half that will gel well with mass audience in B & C centers. Commercially this project has already provided table profit for Bellamkonda. Obviously he can expect for more profits to flow in as there is enough space at BO with no substantial releases in future.

Actual release date of movie is tomorrow that is 15th. Confidence of Bellamkonda and Lawrence made them to screen special premier for press today (14th) morning. Looks as if, their confidence is going to work out this time. Lawrence even shocks you with delcaration of 'Muni 3' to follow soon.

Rating : 3 / 5

Final Word : A nice trail than Muni

Kanchana Movie credits

Starcast: Lawrence, Lakshmi Rai, Sarathkumar, Kovai Sarala, Devadarshini
Director: Lawrence Raghavendra
Music: Thaman S

Nanna Movie Review

2011-07-26T13:23:00.001+05:30

Nanna which marks the blend of Vikram and director Vijay, is said to be a film that's ardently moving and enjoyable at the same time. The actor , who is known for rendering different characters on screens, gets another fascinating role. Bid adieu to those movies where hero bashing goons. Movie started to tell stories from real life experiences. Nanna undeniably make people aware of new innovative ideas to come up with and bought in front of the silver screen. Being a dubbed Movie Nanna bought so many in to theatres. What magic did Nanna holded for audience.

Story line

Shedding light on the movie , the plot moves around a father and his daughter. Vikram who plays the role of Krishna in the movie is a mentally challenged man. He is having a mental growth of five year old boy who works in a chocolate factory in Ooty. His wife passed away and he is taking care of his daughter Sara.

One day the father and Daughter is detached, when his father in law take away his daughter from him. There the story takes it point. Amala Paul plays the role of Vikram’s sister in law who takes care of Sara after she had been separated from his father. Vikram now is in search for his daughter . Audience are able to see entirely different Anushka on screen. Playing the role of a lawyer Anushka comes as a helping hand for Vikram to get back the custody of his daughter through court. Santhanam comes as the junior to Anushka in the movie. The movie moves on with legal battles and arguments in the court.

Star Performance

Krishna will bring applause in the career of Chiyaan Vikram, another feather cap in Vikram’s head. He holds the scene by evoking fun. Hardly there will be scenes where we will not turn our face from Krishna. He is there as a five year old boy from the beginning till the end of the movie. Young Sarah will create vibrations. Her onscreen chemistry with Vikram has been amazing. She will drive audience to the theatres. Anushka in a completely different role adds beauty to the movie . She is the tailored role for being an Advocate in the Movie . Her appearance and character traits will make people grasp that Anushka can wear any Character. Her performance is remarkable.

Nanna Movie Review

Mynaa fame Amala Paul needs three cheers who plays a very thorny role with a right sensitivity. Santhanam with his funny jokes makes us think and also touches the heart in emotional sequences. Nasser playing his role prefect completes the prefect casting of Vijay’s movie that bought smile in millions.

Technicalities

Camera’s adds beauty to the movie . One picture reveals thousand word than a word, a special cheer for Nirav Shah who had rolled the camera to nook and corner bought every emotions and sensibilities in every frame. His method of soft tones adds beauty to the narration of the movie. Giving peppy value to the lyric Na Muthukaumar’s lyrics got some wonderful tones which will provide strength to the movie’s script. The music adds value to the script.

Director Vijay manages to extract the best form his characters as well as his technicians , where audience will be able to see the perfection in every touch. Adding the positive value to the movie Naanna will be the best in Vikram’s career, excellent music by G V Prakash will make people block the tickets.

Fianl Word:

Film with a different script , blend of humor and emotional elements , Nanna – a perfect choice for a perfect weekend

Rating: 4 /5

Cast - Vikram, Anushka, Amala Paul, Santhanam

Music – G V Prakash

Cinematogarphy – Nirav Shah

Direction – A L Vijay

Rate hikes to hurt growth, says industry

2011-07-26T13:11:00.001+05:30

India Inc on Thursday expressed disappointment over the interest rate hike announced by the Reserve Bank, stating that fresh investment and economic growth will take a hit due to the increasing cost of finance.

"I fear economy (growth) will contract because when input costs go up, prices of goods will increase," the Chairman of Ficci's Finance Committee, Udayan Bose, said.

Read: RBI hikes rates, loans to get dearer

The RBI raised the short-term lending rate by 25 basis points to 7.50 per cent on Thursday and signalled that its tight monetary policy stance will remain a key tool to rein in inflation, which is currently hovering above 9 per cent.

However, the industry felt that high interest rates will hurt growth. "When the growth curve was 9-9.5 per cent, interest rates were low," Bose said, apprehending this would not be the last rate hike by the central bank.

"I don't think so," he said when asked whether it would be the last interest rate hike.

Experts see more rate hikes ahead

The latest rate hike is the tenth by the RBI in the last 15 months and the banks have increased their lending rates by between 150 and 300 basis points between July, 2010, and May, 2011.

Checklist: How to get that loan

Assocham President Dilip Modi said while the successive rate increases since March, 2010, have not been able to control inflation, "high input prices, rising finance costs and global uncertainties are adding to negative sentiments".

According to CII Director General Chandrajit Banerjee, "The current spell of inflation, being largely associated with supply-side bottlenecks and imported commodities, cannot be addressed by monetary tightening alone."

He said it was time the government looked at the fiscal policy as well to maintain a balance between growth and inflation.

PHD Chamber President Salil Bhandari said the investment sentiment has dipped significantly, as tight monetary conditions have hit financial markets, "causing negative wealth effects".

Year-on-year non-food credit growth remained at 20.6 per cent in early June 2011, despite moderation.

Loans will pinch more as RBI hikes interest rates by 50 bps

2011-07-26T13:05:00.000+05:30

The Reserve Bank of India on Tuesday hiked short-term lending and borrowing rates sharply by 50 basis points for the third time in three months to tame high inflation, a move that would make all personal and corporate loans more expensive.

The RBI has also revised its fiscal-end inflation projection to 7 per cent from 6 per cent earlier.

With Tuesday's increase of 0.50 per cent, the short-term lending (repo) rate has been hiked to 8 per cent and the short-term borrowing (reverse repo) rate has also been increased by a similar margin to 7 per cent.

It, however, has retained the cash reserve ratio (CRR) at 6 per cent.

"Notwithstanding signs of moderation, inflationary pressures are clearly very strong... inflation continues to be the dominant macroeconomic concern. On the basis of this assessment, it has been decided to increase policy repo rate by 50 basis points from 7.5 to 8 per cent with immediate effect," RBI Governor D Subbarao said while announcing the quarterly review of the monetary policy.

This is the 11th time since March, 2010, that the RBI has raised the interest rate to check inflation, which is currently ruling at over 9 per cent.

The RBI's unexpected decision led to a sharp decline of over 300 points in the BSE Sensex on Tuesday morning. The 30-share Sensex fell to 18,570 soon after announcement of the policy, although it had opened in positive terrain.

- With PTI inputs

we came close to producing the perfect bowling performance

2011-07-26T13:04:00.002+05:30

London, July 25 (AFP): England captain Andrew Strauss said his side had come close to producing the perfect bowling performance to take 20 India wickets during a crushing 196-run in the first Test here at Lord's.

However, Strauss warned England not to let their standards drop with the second Test of this four-match series starting at Trent Bridge on Friday.

Stuart Broad, reverting to a fuller length, led the way early on with four for 37 as India were bowled out for 286 in reply to England's first innings 474 for eight declared.

And on Monday it was the turn of fellow seamer James Anderson to take centre stage, with the Ashes star returning figures of five for 65 as India, chasing what would have been a Test record fourth innings victory total of 458, were dismissed for 261.

India may have been missing injured opener Virender Sehwag, out with a shoulder injury, at Lord's but they still boasted a strong batting order including Rahul Dravid, Sachin Tendulkar and Venkatsai Laxman.

But not even the celebrated trio could get India to a total of 300 in either innings, with first Broad and then Anderson denying Tendulkar, still stuck on 99 international hundreds, a maiden Test century at the ground.

"It was an outstanding bowling performance by the whole attack over five days," said Strauss.

"You do have to work hard for your wickets here and I think it showed the value of persistent lines and lengths."

"That's the only way of taking wickets here and I think we did that brilliantly," added Strauss who has spent all his professional career with Lord's-based county side Middlesex.

"I think over the two innings that was as close to the perfect bowling performance we've had in the last two years and that is saying a lot because we have had a lot of exceptional bowling performances."

Ashes-holders England will replace India at the top of the ICC's Test Championship table if they win this series by two Tests.

But Strauss added: "We are aware it's the opening salvo in the series. There's a lot of cricket still to be played, so we can't get too satisfied with ourselves. We have to be ready to go on Friday."

Broad, having struggled lately, looked back to somewhere near his best with the ball at Lord's.

He also made an unbeaten 74 as, with Matt Prior (103 not out), he helped rally England's second innings from the depths of 62 for five to a total of 269 for six declared.

"When your place in the side is called into question, it's a big test of character as much as anything," Strauss said of Broad.

"Stuart showed immense character over the five days. He bowled very well and his second innings 70-odd was crucial to the outcome of the game."

"It was a timely reminder to everyone of what a great talent he is."

Despite Broad's all-round contribution, Kevin Pietersen was named man-of-the-match for his first innings 202 not out that laid the platform for England's victory.

Pietersen's innings began in overcast, seam-bowler friendly conditions although India were handicapped by the loss for much of this match of left-arm quick Zaheer Khan, who broke down with a hamstring strain.

"That was one of the great innings I've seen since being involved with the England side, in very difficult circumstances," Strauss said of Pietersen's double century.

"He had to be smart in the way be played their seamers, he had to graft and then when we had the opportunity to attack, he attacked."

England came into this contest on the back of seven wins in their previous eight Test series (the other was drawn away to South Africa) and Strauss said: "To be No 1, you have to grab your opportunities and I think we did that very well in this game.

"We have demonstrated that, when we play well, we are a match for anyone."

Gunshots that shocked the world

2011-07-26T13:00:00.000+05:30

A 32-year-old Norwegian killed at least 84 people at a youth summer camp of Norway's ruling political party, on the small, holiday island of Utoeya. Anders Behring Breivik is later charged with the killings, as well as with an earlier bombing in the centre of Oslo which killed at least seven people.

World this week

2011-07-26T12:57:00.000+05:30

In this July 19, 2011 photo, a leopard attacks a forest guard at Prakash Nagar village near Salugara, on the outskirts of Siliguri, India. The leopard strayed into the village area and attacked several villagers, including at least four guards, before being caught by forest officials, according to news reports. The leopard, which suffered injuries caused by knives and batons, died later in the evening at a veterinary center. The forest guard being attacked was injured. (AP Photo)

Poonam Pandey to strip on Bigg Boss 5?

2011-07-25T14:36:00.000+05:30

She claims to have rejected more than 30 offers for reality shows, films and item numbers since then, and states: “It’s been hard to say no, but I’ve no regrets. Whatever I choose will be my debut in Bollywood and keeping that in mind, I need something really big and unforgettable. Of course, some of these offers have been substantial but not the way I see myself debuting.”

She gushes about Khatron Ki Khiladi: “It was wonderful just being around Akshay sir (host Akshay Kumar). Though we never spoke about films, we did play cricket once,” she recollects.

Poonam Pandey to Strip on Bigg Boss 5?

Rumors that an offer of Rs2 crore has been made to her has been corroborated by her - “It’s nice being in news, but when I hear that I’ve been offered a certain amount to strip on national television in a reality show, I wonder to myself — Rs2 crore isn’t enough to strip,” Poonam laughs.

Poonam Pandey evidently doesn't know the difference between Bigg Boss and her regular job.

Her claim to fame has kept her visible and prominent even after our World Cup Win.

“The other day, I walked down my lane to have panipuris and people standing there kept murmuring my name. Whatever the reason, the way I’m recognised everywhere makes me feel on top of the world,” she states.

In other news, Poonam Pandey has stated her intentions of finishing her education; she might even apply to the IIMs.

"The thought itself is so inspiring! Why not IIMs?" But since getting through IIMs calls for hard work and determination, and most importantly lots of time to prepare, Poonam you need to stay focused!

Akki's Sole Cyber Pal… Sallu!

2010-04-24T10:13:00.001+05:30

The renowned face on Facebook posted his blogs on a website and was initiated into Twitter by his spouse Twinkle. Though, unlike other B town folks, Akshay Kumar prefers to keep a lowwwwww profile… and only tweets newsy tidbits to his abiding admirers.

A recent sample from Akki, currently canning scenes in Canada for Anees Bazmee's 'Thank You', states, "Who says being an actor is a cakewalk? Shooting an action sequence in downtown Vancouver in less than 2 degrees."

Akki's made one startling exception, though. Among the cine fraternity, Action Kumar has identified the star he has no qualms tweeting to. Salman Khan! The duo shared screen space in 'Mujhse Shaadi Karogi' and matters were hunky dory for a while… although they did have some starry differences later.

Apparently, all that is a matter of the past, as Akki did walk the ramp for Sallu's 'Being Human' at a reputed fashion week. The Akki Sallu bond now seems to be fortifying in cyberspace. Hah, quite virtually…

Flirt Imran Imitates Akshay?

2010-04-24T10:09:00.000+05:30

Saturday Apr 24 12:21 AM

Imran Khan's a super flirt? Yeah, if you heed Punit Malhotra, director of 'I Hate Luv Storys', who jokingly states in a tabloid chat, "My hero Jay Dingra is a compulsive flirt and I think it was easy for Imran to play him… since he was playing himself! My character is not based on any single actor."

Khan, however, asserts that he's modelled his cine Casanova along the lines of… Akshay Kumar!

"I was very confused as to how I could play Jay, a suave and confident Romeo who has a way with ladies," confesses Khan in a news quote. "I decided to base it on Akshay. I've met him twice, he's known to be a ladies man and is very cool and chilled out."

Flattered or flustered, Akki?

CHE GUEVARA

2010-01-31T10:35:00.000+05:30

During the Cuban Revolution of 1956-1959, led by Fidel Castro, which Ernesto Che Guevara participated in and became a commander in the Rebel Army, the goals of the Revolution changed from one of deposing the Dictator Fulgencio Batista, to a broader based social and economic movement, which featured agrarian reform as one of its main tenants. A large part of the Guerilla forces led by Castro and Guevara, sometimes above 80 percent, were peasants, some dispossessed, all abused by feudal land arrangements of Cuba before the Revolution. Many of the campesinos worked day in and day out for just barely enough to support a family. Nearly all the peasants were diseased or malnourished. This fact led Castro and Guevara to understand the need for the Agrarian Reform program instituted soon after the Revolution was accomplished, while they were still fighting the Revolutionary War (Guevara, 102).

Che's agrarian program was simple. It was the Zapatista line of "Land for those who work it." This seemed simple to him and was justified by the reality of the countryside, where those who worked the land had nothing and it caused all sorts of problems. This line was subverted by leaders of the national movement which was supposedly coordinating activities with revolutionary aims throughout the country. In reality there were several factions within the national movement that were decidedly against each other, and in fact fought with each other and stole from each other, and there was, as was revealed after the Revolution ended indeed no harmony between those who had different agendas. By November 1958, Che's version of Agrarian Reform was being put into place in the "liberated zone" (the zone controlled by the Rebel Army), which included confiscation of land owned by those who sympathized with Batista, and a granting of land to all those who had worked it or paid rent on it for 2 years or more. This caused all sorts of problems among the revolution's "allies", who turned out to be opportunists and tried to block the reform where they could not gain some advantage. Among those whose agenda ran counter to the Revolutionary program was a group called Front II who operated in the Sierra Escambray Mountains, near the town of Sancti-Spiritu and insisted on collecting dues on the agrarian programs instituted by the Revolutionary J-26 Movement (Taibo, 211). Earlier in the struggle, a provisional government created by the revolution's "allies" in Miami, Florida, was condemned for their opportunistic tendencies by Fiedel Castro. This group of Cuban "Revolutionary" leaders (which included some in the city component of the Revolutionary J-26 Movement) decided, without including representation, or even consultation with those who were actually conducting the Revolution in the Sierra Maestra, that the government would be a coalition government of all the "revolutionary" movements throughout Cuba (Guevara, 211-227). These and several other things, (including banditry in the name of the Revolution and the desire among several other "revolutionary" elements for a military junta in Havana) led to early controversy in the Revolutionary movement of Cuba.

After the Revolution, the conflict came to a head. Che leading the Rebel Army, felt that the Rebel Army should be the guarenteeors of the agrarian reform, since the army was made of those who were peasants and those peasants were fighting not only for the Revolution, but indeed that they were fighting for a better way for the peasants of Cuba. Before the agrarian question was settled, the Cuban government in March nationalized the telephone company, and the public transportation system, and then ordered rents cut in half and lowering of the price of medicine. This was certainly the flavor of the Cuban government to come. The Agrarian Reform Law was signed into effect in May of 1959. It confiscated plantations over 1000 acres and then paid for the expropriation with bonds maturing in 29 years. Then these lands would be turned into farm co-ops run by the government or split up among the peasants who lived on them. Che rejected the act's moderation, calling it a "timid law, which did not take on so basic a task as suppressing the plantation owners" (Taibo, 277).

The Cuban Government took heat for this act from both sides. From the left, Castro was accused of mollifying large landowners and from the right he was accused of betraying the revolution by changing the aims of the movement from eliminating the dictatorship to agrarian reform. But as it happened, this was the agrarian reform that was presented in Cuba after the revolution, and from it Che moved on to other things.

On October 7, 1959, Che became the director of the Industrialization program of the National Agrarian Reform Institute (INRA) (Taibo, 288). His job was to coordinate activities among the nation's industries which had been nationalized over the past 10 months. Che's job consisted of keeping the business under his direction going no matter what. Carlos Rodriguez, in a speech in 1987 described the purpose behind this very well. These businesses were necessary, even if they weren't what capitalists would call "profitable." They provided things the people of Cuba needed. They weren't profitable, because they had to be practically given to people of Cuba, who had little money. These products included such commodities as medicines and other essentials. Che instituted a system where the workplaces would be organized as to what they produce, and the economy would be funded by a central funding agency tied to the Cuban treasury. From there it would be easier to coordinate different businesses in the Cuban economy, and direct for production. This was another step in making Cuba a Communist nation (the agrarian reform was the first). Around this time Che also instituted a principle known as Voluntary labor, which consisted of men doing work for free during a day. It was the beginning of Che's philosophy of "a new man", where people worked for the benefit of society and from that an individual received his reward. This "moral" incentive (as opposed to a material one, where the worker receives a monetary incentive or a house or something for working hard) was far more important to Che's "New" man because it involved improving the lives of the many over the life of the individual.

In late November 1959, Che became the head of the National Bank of Cuba. When he took on the job, he left the job at the INRA to Orlando Borrego. But Che still oversaw the work at the INRA and returned to the work within the next year. Che immediately set to reforming the banking system, despite the lack of skilled economists within the bank. Che mentioned that foreign money interests had a hand in virtually every aspect of the Cuban economy, and this would cause great problems as the Revolution depended. Che implemented several controls over the amount of foreign currency held in reserve by Cuba. One of Guevara's main problems in the running of the Cuban National bank was trying to control capital flight from Cuba after the Revolution. With no capital, Cuba was not able to industrialize. Much of the capital flight early on in Che's administration was offset by a discount in the loans Cuba received for foreign nations. Nonetheless, Che did have success in the area of the agrarian reform while with the bank, and was proud to sign the first deeds of the peasants for the lands they had been given.

Later, in 1960, as the Soviet Union was offering to help Cuba financially, Che began to understand the real problem of Cuban industrial development to be that Cuba is producing only raw materials while manufactured goods had to be imported. This added up to a trade deficit from which Cuba could never recover, as long as it only manufactured raw materials. Che, along with others in the Government set about on a plan to eradicate Cuba's imports, by buying factories and machinery from Eastern European nations. He organized the bookkeeping apparatus in Cuba's economy to offset the monetary losses of some "unprofitable" industries with the gain of others, thus allowing the Cuban economy to continue without laying off more workers. Che rejected the appeals for raising wages, saying that if there were no increase in manufacture, raises would amount to simply printing more money, and then the money would be worth less, and people would become poorer. This explanation is an indication of Che's simple, yet poignant view of the economic principles upon which a socialist nation could lay. Cuba would have to produce more for there to be raises, and yet the Cuban economy continued in its course of rapid industrialization. Throughout this time, Che continued to work with voluntary labor brigades every weekend, setting the example for the entire countryside.

In the beginning of July, the United States stopped importing sugar from Cuba. It was the first sign of trouble for the Cuban economy. The cancellation of the sugar quota marked the beginning of the blockade of Cuba by America. The Soviet Union was quick to buy up the surplus of sugar which the Americans had refused to buy. Cuba became a cold war pawn, as the United States refused to trade with Cuba, and the Soviet Union picked up the opportunity, and then the United States admonished Cuba for trading with her cold war enemy. The Cuban Government returned the favor by nationalizing foreign assets within Cuba, to include oil and sugar refineries which were owned by Americans. It was a viscious cycle which led to the severing of all ties between America and Cuba, and the thrust of Cuba into the waiting arms of The Soviet Union.

Here Che's early criticism of the Soviet Union became apparent. Taibo's biography tells of a meeting Guevara had with French economist Rene Dumont. Dumont suggested, as Taibo puts it , that "nationalization and state takeovers [do] not necessarily add up to socialism" (Taibo, 306) that peasants did not feel like they owned the business that they operated, and this would lead to absenteeism and theft from the co-operatives. Che's opposition to the co-operatives was voiced here, saying it would set up a system like America's in socialist nations, where workers work for material gain, rather for the benefit of society. Che's notion of the "new man" spoken of before was developing here. People were, according to Che's economic thought, to work for the benefit of society, and from that receive their benefit. The co-operative then involved a heightened sense of individual ownership rather than work for the good of all, and it promoted a continued atomization of the workers (peasants included) for individual gains. This is why there is theft, because there is individual greed and motivation. This is why there is absenteeism, because workers don't see the benefit for all of society in their work, or they discount their work's importance. This is why there is not increased production, because the workers are waiting for material incentives which will not come, which cannot come. The Soviet system tries to incorporate worker ownership into its model, where what is needed is instead worker responsibility. This notion of the "new" man had permeated Che's economic thinking by mid 1960.

By October 1960, a report was compiled showing the critical state of the Cuban economy. It was with-held from Guevara's opinion. This report stated that Cuba's economic reserves would dry up in four months (Taibo, 309). On October 13, the United States declared an embargo on all goods entering and leaving Cuba. Cuba, in response, nationalized more sugar mills, banks and factories, giving Che's INRA a total of about 615 business to run, along with 160 sugar mills and all the mines on the island (Taibo, 309). This of course caused predictions for shortages, due to a skyrocket of demand (due to increased real wages among Cuban citizens after the Revolution and inability to import) in eggs and razor blades. This was the first sector to be hurt by the American blockade. Consumer goods disappeared over the next few years, as the Cuban economy tried to shift emphasis toward manufactured goods that it still had to import but could not now. Medicine was an early casualty of the embargo, and the United States turned a deaf ear to the fact that the embargo was killing Cuban citizens because the Cuban government did not have sufficient pharmaceuticals to treat people who were ill.

In late October 1960, Che was again abroad. His first stop was in Czechoslovakia where he obtained a sizable credit, and then he continued to Moscow, where the Cold War political game continued to be played out. Moscow announced that whatever Cuba needs they shall have. This declaration of close association was the start of several long term problems in Cuba's economy, the first and most notable being the Cuban Missile Crisis just a year and a half later and the over reliance of the Cuban Economy on the Soviet Union which collapsed in 1989, tearing the Cuban economy down with it and almost causing the end of the Revolution in Cuba. Che went on to China and received a 60 million dollar credit from China, as well as a promise from the Chinese to buy Cuban sugar. Guevara got guarantees from North Vietnam and East Germany. Upon returning to the USSR, Che had found outlets for the entire harvest of Cuban sugar.

In late February, 1961, the Industrial Department (the INRA) became the Ministry of Industry, and Guevara was appointed its Minister. He drafted a board of directors and set about to develop a centralized approach to governing the economy of Cuba. This included centralized planning of the output and centralized control of the finances of the economy. Immediately the ministry set about reorganizing the workforce so there was more people cutting sugar or picking coffee, and less people working in the surplus labor conditions of the factories. The goal was to keep people in work, to keep unprofitable blockaded industries working. This was done mainly through volunteer labor programs. In March, rationing was declared for milk, meat, shoes and toothpaste (Taibo, 322). Che insisted that even ministers of the government obey the ration.

At the end of April 1961, Che declared that all ministers will visit their factories twice a month or be docked pay. About the same time he announced that Industrial output had increased, which was excellent news. This included a 75 percent growth in steel and iron output. He also outlawed interrogations in the workplace concerning political ideologies of workers, in the wake of the Bay of Pigs invasion. However demand was fast outpacing supply and there was inflation. There were problems installing machinery purchased from Eastern Europe because there was not factories to install the machines in. The Cuban economy was traveling forward on what Taibo called "revolutionary momentum" (Taibo, 331). Later in 1961, at a National Production meeting, Che harshly spoke of the lack of quality control in Cuba. All the increases in production meant nothing if none of the products were any good. He commented, as an example of how the Coca Cola tasted like cough syrup. He sharply criticized the industries for considering quality counterrevolutionary. Despite it all, living standards were 60 percent higher in 1961 than they had been in 1959 (Taibo, 340).

In early 1962, Guevara attacked the problem of wage discrepancies, which eventually led to the simplifying of the wage scales in Cuba, and leveled wages downward. Further attempts to reorganize volunteer labor programs were made to make it more cost effective. In 1963, Che announced a switch in tactics of the Cuban economy from making new investments to consolidation of those Cuba had already made. Furthermore, a program for education of managers and workers was underway, at Che's insistence. He also criticized the growing beurocracy that caused inefficiency in production. At the beginning of 1964, Che unveiled the new industrial investment plan which was smaller than the previous year's, and included a higher emphasis on agricultural products. This was the first step in Cuba's long plan to return to sugar manufacture being chief among concerns. As well, Che continued (and put more emphasis in fact) to working volunteer labor. Taibo quotes reports from the Ministry of Industry that say Che put in more then 240 hours of volunteer labor in the first half of 1964, among all his other responsibilities. The Ministry of Industry combined had put in 1,683,000 hours (Taibo, 385).

In late 1964, Che Guevara went to New York to speak before the United Nations. He then completed a whirlwind tour of Latin America and Africa, before returning to Cuba. Upon returning, Che decided that he would go to the Congo to support the Revolution there and try to bring Cuban guerilla tactics to a nation struggling against an oppressive dictatorship. He resigned all his offices and renounced his citizenship of Cuba and gave away all his property. Guerilla was the vocation he decided he would return to and this is the vocation he had when he died.

The Cuban experience was one fraught with mistakes made because of inexperience. Che was never one to hide facts, and he was always self critical. But no matter what, one fact remains that no capitalistic critic of Che Guevara or the Cuban revolution will ever be able to erase. The people of Cuba enjoyed a better life after the revolution than before it. Illiteracy was wiped out. Unemployment was eliminated. Cuba became somewhat of an industrial power. It may have hurt making the transition, but the pain was necessary. In April 1961, the United States sponsored the failed invasion of Cuba, called in America, "The Bay of Pigs". The invasion was aborted because the Cuban people did not raise up to greet the exiled invaders with open arms, as the American government expected they would. The Cuban people instead, defended the Revolution, and formed militias which stopped the invasion on the beach where it had landed. The Cuban people were in full support and in full defense of the Revolution at the place called Giron Beach. Che summed up the Revolution, and the progress of the Revolution to that point in History when he explained why there was no popular support for the invasion that America had looked for with the following words: "You can't expect that a man who was given a thousand acres by his father and just shows up here to get his thousand acres back won't be killed by a countryman who used to have nothing, and now has a terrible urge to kill the guy because he [the inheritor] wants to take his [the defender] land away from him." (Taibo, 327) .