One US Dollar costs Rs.58.16 on 10th June!
Yes, it is a life-time low of rupee against the dollar,making the struggling
economy furthur vulnerable.
The rupee has slumped by 8 per cent from 53.80 on April 30.
The forex traders were critical of the Reserve Bank for its inaction
in the matter.
The rising rupee will make the oil companies hike the rates soon.
The record low of rupee is sending shock waves to the economy
and all import intensive sectors such as auto,capital goods,metal
products and power will be affected.
Foriegn Institutional Investors are pulling out,fearing furthur erosion
of their value of their stocks.
Still some people are rejoicing.Exporters,including IT companies and oil
companies from the private sector are happy as their income is in
Doller terms.

DoT Order on 78.2% IDA merger

Value of the rupee has gone down to 57.07 today against US dollar
even as Prime Minister and Finance Minister make tall claim of the
Economic growth.
And what about the economic growth!
The GDP has slipped to 4.8 % for the last quarter of the financial year,
2012-13 and the average for the fiscal year to only 5 per cent.
This is natural adverse effect of the neo liberal policy being pursued
by the UPA government.
The Manmohan Singh government has granted concessions to the
cporporates tothe extent of Rs. 31 lakh crore since it came to power in 2004whereas the subsidies to the poor and the peasants are cut drastically.
The vast majority of the total population,77 % are struggling with a
meager income of less than Rs.20 per day.

• THE INDEFINITE STRIKE PROPSED FROM 12-06-2013 BY FORUM OF BSNL UNIONS/ASSOCIATIOS HAS BEEN AVERTED FOLLOWING ISSUING OF PRESIDENTIAL ORDER BY DOT FOR 78.2 % IDA MERGER ON TODAY,THE 10-06-2013.
  THE FORUM LEADERS INCLUDING COM.VAN.NAMBOODIRI ANDCOM.P.ABHIMANYU,GENERAL SECRETARY,BSNL EU HAVE MET THE CMD,BSNL AND DEMANDED THAT IT SHOULD HAVE FINANCIAL EFFECT FROM THE DATE ON WHICH THE PROPOSAL WAS APPROVED BY THE BSNL BOARD.BUT CMD HAS STATED THAT THE DATE OFEFFECT WILL BE FROM THE DATE OF PRESEDENTIAL ORDER, IE FROM 10-06-2013 AND BSNL WILL ISSUE THE ORDER ON TOMARROW PENSIONERS WILL ALSO GET THE BENEFIT AND SEPERATE ORDER WILL BE ISSUED FOR THE SAME CHQ CONGRATULATES ALL THE FORUM LEADERS AND THE WORKERS FOR THIS GREAT ACHIEVEMENT.CHQ ALSO CONGRATULATES ALL THE AIBDPA UNITS WHO SUPPORTED THE STRIKE AND PARTICIPATED IN THE DEMONSTRATION AND DHARNA ENMASSE THERE IN NO DOUBT THAT THE GREAT UNITY OF ALL THE UNIONS IN BSNL AND THE DETERMINATION OF THE WORKERS HAS BROUGHT THIS ACHIEVEMENT.

Shri.R.K.Upadhyaya,CMD,BSNL has informed Com.P.Abhimanyu,General Secretary,
BSNLEU over phone at 1845 hrs today that 78.2% IDA merger has been approved
by the DOT and the order may be issued by DOT on today or Monday.
However Forum leaders have cautioned against any llet up in the strike
preparations untill the order is issued.

The Forum of BSNL Unions/Associations has decided to intensify the preparations
for the Indefinire Strike from 12-06-2013 for immediate settlement of 78.2%
IDA fixation.
A meeting of the Forum held on 06-06-2013 after the discussion they had with
Secretary,DOT reviewed the situation took the following decisions.
1.Conduct Press Meet on 10th June at Circle and District levels.
2.Lunch hour Demonstration on 11th June.
3.Meet the Secretary,BRPSE on 7th June.

Today,the Forum leaders tried to meet the Secretary,BRPSE ,but could not meet
him as he is out of the country and will return only on 17th June.However the
Leaders met the Director who told them that BRPSE is not concerned with the
issue of 78.2% IDA fixation as BSNL has not yet been declared as a sick unit.

Forum leaders including Com.P.Abhimanyu,General Secretary,BSNLEU met Shri.F.M.
Farooqui,Secretary,DOT on today,the 6th June and discussed
the issue of 78.2 per cent IDA merger.The Secretary,DOT has
assured the leaders that he would take all the necessary steps
to settle the issue.He also told the leaders that he would like
to meet them within one or two days.
The leaders also handed over to the Secretary,DOT a copy of
the memorandum submitted to the Group of Ministers formed
for the revival of BSNL and MTNL.

The Mass Dharna called upon by the Forum of BSNL Unions/
Associations on 5th June turned to be a massive ptotest action
all over the country.The Dharna was the second phase of action
for immediate settlement of 78.2 per cent IDA merger for the
pay fixation w e f 01-01-2007.
The resentment and anger of the workers was reflected in Dharna
with the huge partcipation in all the places.It is nothing but the
question of honouring the agreement reached between the unions
and BSNL management.
The mass Dharna held in front of GMT Office,Alappuzha was
inaugurated by Com.K.G.Jayaraj,General Secretary,AIBDPA.
A good number of AIBDPA members also participated.Leaders
of all the unions addressed the Dharna
The Forum has already decided for an Indefinite Strike from
12-06-2013 if the issue is not settled.
The Forum leaders wii meet the DOT Secretary on 6th June
and discuss the issue.

The Union Cabinet on 4th June has cleared a proposal to install
2199 mobile towers in the nine naxal affected states at a cost of
3046.12 crore.
The decision comes in the aftermath of May 25 Maoist rampage in which
seniorCongress leaders were killed in Chhattisgarh.
The project would be executed BSNL and the towers will come up
in locations identified by the Home Ministry.BSNL has already
installed towers at 363 locations.Universal Service Obligation Fund
would meet the capital expenditure net of revenue for five years
The strenghtened telecom net work will result in increase in penetration
of mobile connectivity in the country,especially naxal affected areas
and other areas facing security challenges.This will ensure affordable
and equitable access of communication,informmation and governance
to people.
Why BSNL is entrusted with this project;;certainly not because of any
newfound love for BSNL..The fact is that no private telecom company
is prepared to take up the project in Maoist affected areas.Only
BSNL has the commitment to the people and the country.

There has been widespread oppositon against the appointment of Shri.
Sashi Kant Sharma as the CAG (Comptrolller and Auditor General of
India) mainly due to the fact that he was serving as the Defence Secretary
when he was tipped for the top job.Some of the dealings in the defence
Department had attracted sharp criticism from the formere CAG,Shri.
Vinod Rai..Naturally it will be improper to audit the accounts of the
Defence Department by the same person who was the defence Secretary
during the period.
It was humiliation and embarrasment for the UPA government during the
tenure of Shri.Vinod Rai who unearthed a number of scams incurring huge
loss to the government exchequer.
Some eminent persons including Shri.N.Gopalaswami,former Chief Election
Commissioner,the former Chiefs of the Naval Staff,Admiral R.H.Tahiliani and
Admiral L.Ramdas have challenged the appointment of Shri.Sharma as CAG
in the court through a public interest litigation petition.The petition is listed
for July first week along with a similar petition filed by advocate Maohar lal
Sharma.
The petitioners have stated that the appointment was arbitrary and no
system was followed and violative of rule of law.