Prime Minister Modi launches Sovereign gold bond scheme

    As declared earlier, Prime Minister Narendra Modi launched a gold monetization, a gold bond scheme and also India’s first official gold coin on Thursday at New Delhi.   On this occasion he said “House or any immovable properties or even a car usually named after men in the family but women usually don't own anything. They own gold and it is a matter of their strength for them. Women should be empowered with registering movable properties on their names. Hence, we are introducing this gold bond scheme.”   He further said “It is estimated that India has around 20,000 tons of gold reserves in the form of ornaments with Indians. Then how anyone can say India is a poor country. If we put the gold in our homes there is risk of theft. If we put the gold in bank lockers we have to pay the carrying charges. However, it won’t earn any returns for us. This gold bond schemes will not protect your gold from loss or theft or carrying charges, but also earns you good returns periodically.”   Sovereign gold bond scheme details: Gold bonds will be issued by Reserve Bank of India on behalf of the Government of India. Hence, the gold deposits are highly secured. The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc. The bonds are also available paper form if the investor opts for it. These bonds are issued in denominations of one gram gold and in multiples thereof.   The Sovereign gold bond can be used as collateral for loans and can be sold or traded on stock exchanges. The tenor of the bond is for a minimum of 8 years. However, investors are allowed to exit in 5the, 6th and 7th years. Investors are assured of the market value of gold at the time of maturity and periodical interest.   The minimum deposit for this scheme is 2 grams and maximum is 500 grams per person per fiscal year. Investor receives the ongoing market price at the time of redemption/ premature redemption. However, there might be a risk of capital loss if the market price of gold declines, though the investor does not lose in terms of the units of gold which he has paid for.   Gold Monetization scheme details: Notified banks will accept gold in any form and in shape from the people. People can choose any of the three different terms for their gold deposits. The Short Term (1-3 years) as any regular bank deposits and for Medium (5-7 years) and Long (12-15 years) Term Government Deposit Schemes.   Coins and bars can earn interest apart from the appreciation of value. The gold deposits either short term or medium or long term will earn interest based on gold weight and its appreciation value. People can take back their gold in form gold metal with purity of 995 fineness or in rupees as wished at the end of the term.   Apart from earning interest from these gold deposits, depositors are exempted from capital gains tax, wealth tax and income tax on these bonds redemption value.   Indian Gold Coin details: While the Sovereign gold bond scheme is intended to encourage the investors to deposit their unused gold and earn interest on it, Indian Gold Coin is vice versa. Designated & recognized MMTC outlets will sell these coins. Initially, the coins will be available in denominations of 5 and 10 grams. A 20 grams bar/bullion will also be available.   These first ever national gold coins will have the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other side. The Indian gold coin will be of 24 karat purity and 999 fineness and carries hallmark as per the BIS standards. The Indian Gold Coin is comes in anti-counterfeit features and tamper-proof packaging. The Indian Gold Coin is also part of Indian Gold monetization program.

Sarika and kids death: Murder or Suicide?

  The mysterious death of Sarika and her three kids in the fire accident that happens in former Congress MP Sirisilla Rajaih’s house two days ago has left many unanswered questions. First question is whether is it suicide or planned murder by Rajaiah family? This incident can be seen in two different angles.   Chances for suicide: Since Sarika has made suicide attempts twice in the past, this may be assumed as a suicide. Sarika wrote a letter to Congress high command requesting not to give chance to her father-in-law Rajaiah to contest in the Warangal by elections. The timing of this incident also strengthens this suspicion of suicide. She might have committed suicide along with her children to take revenge on her in-laws who have been harassing and spoiled her whole life. If seen the consequent developments after her death, it can be understood.   Rajaiah lost the chance of contesting by elections. Police arrests him, his wife and his son under suspicion of murder. This case will ruin Rajaiah’s political life forever. He and his family members were arrested. Whether or not proved guilty, Sarika and her kids’ deaths may put them behind bars for harassing her. Even if Rajaiah’s family members really want to murder her, then they may not choose this time for doing such crime when Rajaiah is all set to contest in the by elections. So, Sarika may commits suicide to take revenge on her in-laws.   May be a planned murder: Sarika’s husband, who is indulged in extramarital affair with a woman named Sana, was living with her in Hyderabad for a long time. He rarely visits his father’s home in Warangal where his wife Sarika and children are also living in the first floor in the same building. He was present in his father’s home, when this fire accident took place. This is raising suspicion on him.   According to neighbors, Sarika and Rajaih’s wife Madhavi used to fight quite often because of Anil had neglected her and children as he is maintaining second family in Hyderabad. Police found that fire broke when gas leaked from the cylinder kept in Sarika’s bed room which is very unusual.   Generally gas cylinders are kept in kitchen room and not in the bed room. Police found the regulator was removed from the gas cylinder. Generally, when fire breaks due to gas lockage, cylinder will explode like a huge bomb, but it didn’t explode? Probably, it didn’t because the gas cylinder may be empty? So, someone in Rajaiah family probably Sarika’s husband Anil may be sedated and sets fire to them when they are asleep? May be!   Generally, if anyone caught in fire, he or she may definitely try to escape from it. Sarika also can escape from her room but she didn’t. Probably she and her children may be sedated with their food supplied by Rajaiah’s wife or someone else. Moreover, if she is not sedated then she can easily escape from the room, if the room doors are not locked from outside.   Police are questioning Rajaiah and his family members about this incident. Clues team has collected evidences. So, police have to find out whether this is a suicide or a brutal murder by someone.

Is BJP really strengthening in the AP state?

  These days BJP leaders of the AP state are singing chorus saying their party is gradually strengthening in the state. First, D Purandeswari said it and then Kavuri Sambhasivarao takes lead from her.   Purandeswari justified her statement saying that BJP enrolled total 23 lakhs members in the state until now. Indeed, it is a good sign for the party because it is half mark of TDP strength in the state. But, Kavuri has very peculiar reason for justifying his statement.   He said the people of the state are gradually distancing from the ruling TDP due to many reasons. He opined that Congress party’s future is blink in the state and YSR Congress party is unable to strengthen itself despite serious efforts. So, obviously people of the state are getting close to the BJP impressed with the way Prime Minister Narendra Modi is eliminating corruption and developing the country, said Kavuri.   There is nothing wrong in believing so if it helps to boost the morale of the party cadre. But, merely believing so without putting any efforts to strengthen the party won’t help it anyway. Very few BJP leaders of the state are seen taking active part in strengthening the party. Few others like Purandeswari, Somu Veerraju and Kavuri are seen focusing their attention on their alliance partner TDP government rather than putting efforts to strengthen their party.   They seem to be thinking that their anti-TDP stand itself is enough to strengthen their party, whereas Kavuri is admitting that YSR Congress is not able to strengthen itself despite putting serious efforts. If so, how these BJP leaders believe that their party is gradually strengthening even though they won’t put any efforts for it. They should think whether is it possible for any political party to become strong without putting any efforts and if not then what efforts they are putting for it.

Is he right choice for BJP in Warangal by elections?

  With BJP confirmation of its candidate Dr. Pagadipati Devaiah, now the picture is clear for Warangal Lok Sabha by elections. Ruling TRS party is fielding Dayakar, Congress party is fielding Sirisilla Rajaiah and Left parties are supporting independent candidate G Vinod Kumar. TDP is supporting BJP candidate in these by elections.   BJP took the Warangal seat although it doesn’t have any strong candidate, who can face TRS and Congress candidates. It searched for a suitable candidate all these days and finally zeroed upon Dr. Pagadipati Devaiah, who is debuting into politics with these by elections.   Dr. Pagadipati Devaiah (69) is a native of Warangal district. He was born in 1946. He pursued his MBBS degree from Osmania Medical College and pediatric anesthesiologist from Harvard University. Later he settled in the US. Although, he is a doctor by profession he is running software companies in US and Telangana as well. According to available information, he is engaged in social service activities since last few years in the state.   Hence, it is clear that he has no previous political experience. He is unfamiliar for people of Warangal, although he is a native of the district. His age factor also may be a big drawback for him, especially when compared with TRS candidate Dayakar and independent candidate G Vinod Kumar, who are below 50s. Other than him, everyone has vast political experience. So, he has to face them all and win the elections.

Why TRS chooses January for GHMC elections?

  All political parties in Telangana state are desperately waiting for the GHMC elections since last 12 months. Hence, they are expected to welcome TRS Government commitment made to high court on Monday for conducting GHMC elections before end of January next year without fail. But, the Congress party describes it as a last desperate attempt made by the ruling TRS party to win the elections.   Congress leader Marri Shashidhar Reddy argued that TRS Government intentionally picked that month knowing that more than 90 per cent of Andhra people settled in twin cities will leave for their native places on the eve of Pongal festival and may take some time to return Hyderabad. He said TRS may be planning to conduct in between that period and hoping to win the elections.   As if reacting to his allegation, TRS MP Vinod Kumar said “GHMC elections were delayed because of the deadly mistakes conducted by the previous TDP and Congress Governments. It take this much time to clear that mess created by them in the past. There are no other reasons for postponing the GHMC elections. We are sure all Seemandhra people living in Hyderabad will certainly utilize their right to vote in the GHMC elections.”   But, if the elections are conducted between January 9th and 18th definitely majority of Andhra people may miss the elections. Many people start for their native places on January 9th (Saturday) and may return 18th morning (Monday) using two Sundays in between. So, all of they may miss the elections if conducted in between these dates.

Can late YSR breathe life into YSRCP in Telangana?

  Ever since YSR Congress party announces that it will be contesting in Warangal by elections, its rival parties and even people of the state are asking why…which is an unusual question for any political party. The reason for their doubt is its unusual behavior in the state. It is not any big secret that it has good terms with the ruling TRS party and do not want any friction with it. So, it remains mum on many serious issues while all other parties in the state are indulged in a serious battle with the TRS government.   Any political party can’t expect the people to vote for it when it remained silent spectator of their problems. YSR Congress leaders of the state are also may be well aware about it. But, they seem to be relying upon late YSR Rajashekhar Reddy goodwill. Then also they may know that the deceased can’t breathe life into them in the prevailing political situation in the state. Yet, they are gearing for Warangal by elections, probably not to win but to split the votes of TDP, BJP, Congress and Left parties thus to help the ruling TRS party indirectly.   YSR Congress party leaders of the Telangana state held a meeting at Hanmakonda on Sunday, where they sung chorus about reviving late Rajashekhar Reddy’s regime. They all vow to strive hard for their candidate’s victory but none of them know who their candidate is. State party president Ponguleti Srinivas Reddy said “Jagan Mohan Reddy will announce name of our party candidate and he will file nomination on November 4th.” Although, he is not sure about party candidate’s name, he is very sure about the date because it is the last date for filing nominations.