Politicians Do SWIM in Wealth and We in the DEEP Oceans of PREDESTINED Hell Oceans of Poverty, Starvation, Calamities, Destruction and EXODUS,Fighting for SURVIVAL in Starvation, Jobloss, Ill Health nad Unwellness Amidst Inherent Inequality, Injustice, Untouchability, Apartheid and Ethnic Cleansing!
Will an INDIAN political party which has more money power form the government in case of hung parliament?
* Sensex gains 1.2 pct; State Bank leads
* Autos rally on better earnings hopes, M&M up 6.1 pct
* Telecom stocks dip on slower GSM subscriber additions
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - India's main stock index raced
to a 17-month high on Wednesday as the market caught up with
sharp gains across the region after a day's holiday, with
financial issues leading the surge on improving economic
outlook.
Investors were also upbeat after a top policy adviser said
the central bank was likely to hold interest rates at a near
decade-low when it reviews policy on Oct. 27, reinforcing
expectations the government's priority was to boost growth.
[ID:nDEL488547]
The 30-share BSE index .BSESN closed up 1.2 percent, or
204.44 points, at 17,231.11, with 25 of its components
advancing. It rose to 17,274.59 during trade, its highest since
May 21, 2008.
"We may rise another 500-600 points from here but we should
correct after that, as we have risen too fast," said Amitabh
Chakraborty, president of equities at Religare Capital.
He said profit-taking was imminent.
The market has gained almost 79 percent so far this year,
and the benchmark has more than doubled from 8,047.17 points
struck in early March.
Surging foreign portfolio investment on the back of a
recovering economy have underpinned the market, with the inflow
since the start of January edging towards $13 billion -- about
the same that had flowed out last year.
"It is all a money game right now," said Naresh Kumar Garg,
CEO of Sahara Mutual Fund. "Investors should await more cues
and be more careful."
State Bank of India (SBI.BO: Quote, Profile, Research) led the gainers after the top
lender said it was looking to raise up to $1 billion in bonds
to fund growth. The stock closed up 4.5 percent at 2,269.45
rupees.
Metals maker Sterlite Industries (STRL.BO: Quote, Profile, Research) climbed 5.4
percent to 852.40 rupees after Morgan Stanley raised its
12-month price target on the stock to 963 rupees.
"In our view, Sterlite offers one of the best and most
balanced growth opportunities in Indian metals," U.S. brokerage
said in a note.
Housing Development Finance Corp (HDFC.BO: Quote, Profile, Research) added 1.5
percent to 2,799.60 rupees, after it reported a
higher-than-expected 24 percent rise in its second-quarter net
profit late on Monday.
"Given the strong rebound in mortgage loans and
disbursements, we expect HDFC to gain earnings traction in 2H
FY10, which will continue into FY11," BNP Paribas Securities
said in a note reiterating a 'buy' on the stock.
Automobile companies stepped on the gas on expectations for
strong earnings as sales volumes accelerated in recent months.
Top utility vehicle maker Mahindra and Mahindra (MAHM.BO: Quote, Profile, Research)
climbed 6.1 percent while leading vehicle maker Tata Motors
(TAMO.BO: Quote, Profile, Research) firmed 4.1 percent.
Engineering and construction firm Larsen & Toubro (LART.BO: Quote, Profile, Research)
added 2 percent to 1,689.35 rupees, after it won orders worth
$210 million. [ID:nBMA006148]
Private sector lender HDFC Bank (HDBK.BO: Quote, Profile, Research) added 0.1 percent
in seesaw trade, after a forecast-beating 30 percent rise in
quarterly net profit. [ID:nBOM444725]
Telecom companies bucked the trend and dropped after slower
subscriber additions at leading GSM mobile operators Bharti
Airtel (BRTI.BO: Quote, Profile, Research) and Vodafone Essar (VOD.L: Quote, Profile, Research) in September amid
intense price competition. [ID:nBOM541164]
Bharti dropped 3.25 percent to 339.40 rupees and Reliance
Communications (RLCM.BO: Quote, Profile, Research) fell 6.5 percent to 231.60 rupees.
Around 507 million shares changed hands on the Bombay Stock
Exchange, with advancing shares outnumbering declining ones in
the ratio of 1.6:1.
The 50-share NSE index .NSEI closed 1.3 percent higher at
5,118.20.
STOCKS THAT MOVED
* Bajaj Auto Finance (BJFN.BO: Quote, Profile, Research), the consumer durables
financing arm of the Bajaj Group, jumped nearly 14 percent to
324.05 rupees, after its September quarter net profit shot up
almost five times.
* Private sector lender IndusInd Bank (INBK.BO: Quote, Profile, Research) rose 5.35
percent to 124.10 rupees, after its quarter net profit more
than doubled from a year ago.
* State refiners Indian Oil Corp (IOC.BO: Quote, Profile, Research), Bharat Petroleum
Corp (BPCL.BO: Quote, Profile, Research) and Hindustan Petroleum Corp (HPCL.BO: Quote, Profile, Research) dropped
2.25-3.2 percent as oil prices tested 2009 highs. The refiners
are forced to sell products at state-set prices.
MAIN TOP 3 BY VOLUME
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* India rupee report
[INR/]
* India bond report
[IN/]
* Dollar falls broadly, euro climbs to 14-mth high
[FRX/]
* Oil sets 2009 high on weak dollar, economy
[O/R]
* Stocks hit 12-mo highs, dlr at 14-mo low
[MKTS/GLOB]
* Futures sharply higher after Intel Q3; JPMorgan eyed
[.N]
* For closing rates of Indian ADRs
INADR
(Editing by Ranjit Gangadharan)
Politicians swim in wealth, but shy away from bourses
14 Oct 2009, 0122 hrs IST, ET BureauPoliticians rank among the richest in the country. But contrary to popular belief, most of them have steered clear of the stock markets
, as can
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be seen from the affidavits filed by them during the general elections. Deepak Bhardwaj, the 58-year-old hotelier from Delhi, who contested the Lok Sabha polls from West Delhi, has personal assets worth Rs 604 crore. Mr Bhardwaj made his money in real estate in Delhi and by selling his motel chain in Canada. A leader of BSP, Mr Bhardwaj only has Rs 16 crore (self and spouse combined) in shares and debentures, marking just 2.6% of his net assets.
Fifty-three-year-old Khimjibhai Harjivanbhai Patadiya, the independent candidate from Surendranagar, Gujarat, has only Rs 22 lakh in shares and bonds out of the Rs 515 crore worth of personal wealth. Kanwar Singh Tanwar who contested Lok Sabha elections (on a BSP ticket) from south Delhi is worth Rs 155 crore. Mr Tanwar has invested just over Rs 1.65 crore in markets andbonds — the remaining being in land and buildings. Samajwadi Party leader Abu Azmi, who contested from Mumbai North-West, has only Rs 4.5 crore in bonds & shares out of his Rs 124 crore worth of personal assets.
There are several instances of rich politicians maintaining their assets in real estate and fixed deposit instruments. SHCIL bonds, RBI bonds, G-secs, state government bonds and small-savings instruments (NSS & postal savings schemes) — all yielding coupon rates in the range of 6-8.5% — are amongst the top investment asset classes of politicians. Many of them have huge investments in privately-held companies as well.
“Most politicians come from semi-urban or rural background, as a result of which they have a lot in property or fixed assets. A good portion of their movable assets falls into bank deposits or small savings pool,” said ace investment advisor PN Vijay of PN Vijay Financial Services.
“Politicians do not understand stock markets; they perceive it as a risky proposition. Moreover, there is a stigma attached to politicians investing in stocks. They’re scared of rivals accusing them of unholy links with businessmen and punters,” Mr Vijay added.
Till last year, India was Asia’s billionaire capital. But Forbes’ billionaires list 2009 has revealed that India is no longer the top spot in Asia for billionaires, owing to the global financial crisis. Still, the Indian billionaire club is thriving,...
Inside Forbes.com Video Network |
Recent Billionaires Episodes |
http://video.forbes.com/fvn/billionaires/mm_politics020508
Staff Indian billionaires can together write off the country’s fiscal deficit with two-thirds of their wealth, but the US would need more than the fortunes of its billion-dollar citizens for the same. More tham one Hundred KAROREPATI represent we WRETCHED Indian in the Current Parliament! Whom do they REPRESENT at all dsepite all those RUBBISH talks of AUSTRITY and Flagship Welfare Progrramme. All Govt Projects are executed by the NGOs behind which VISIBLE Political Identities and Unvisible SWISS Bank Accounts do follow! Nationalism does mean Hard and Cash Business in Global War Economy and Weapon Industry with Everything on STAKE, Everything on Sale!
West Bengal’s ruling Left Front alleged that the Trinamool Congress-led alliance bagged majority of the Lok Sabha seats from the state by distributing money among voters.
“I am hearing from everyone that money bags have worked,” LF chairman and Communist Party of India-Marxist (CPI-M) state secretary Biman Bose told newspersons here.
“They distributed money among the voters,” he said.
The Trinamool, in alliance with the Congress and the Socialist Unity Centre of India (SUCI), won 26 of the 42 seats in the state, handing the LF its worst drubbing in 32 years.
When it comes to globalization of sports, nothing comes close to the appeal of the Summer Olympics. Remember how China rolled out a red carpet for the opportunity to show they could really-really host the games in style. . . and announce to the world they have arrived.
However, what the games really are about is money … and really big money. London Olympics is still a few years away and money is already rolling in (London 2012: Big money rolling in as sponsors line-up for the Olympics). After the big downturn, American economy needs a boost; and what better boost than the Olympics? (even if it is years away) Why do you think the president of America, perhaps the most ‘powerful’ man in the world is throwing his personal weight on this bid?!
I would love for America to host the Olympics in the coming decade. And hopefully get an opportunity to catch the ‘grand’ opening/closing show. . . . But the Globalized part of me thinks we should give others in the world a chance too. Olympics were held in America last in 1996. There are 204 National Olympic Committees (NOCs). Most countries don’t ever get to host the Olympics and America will get an opportunity in less than 20 years; what gives? Rich get richer? Should we not give others, say a third-world country an opportunity to make a few billion dollars too?
Besides, India would meet over half of its proposed expenditure for the next financial year with its billionaires’ wealth, while the American billionaires’ total wealth would meet only one-third of their country’s proposed $3 trillion expenditure in the next financial year.
According to the latest list of the world’s billionaires, released by the US business magazine Forbes, Americans have regained their dominance in the worldwide billionaires’ wealth with a lion’s share of 44 per cent.
The cumulative wealth of all the Americans among the 793 billionaires globally stands at about $1.05 trillion, which is less than the $1.3 trillion deficit that US President Barack Obama inherited from the previous regime
A day after retiring as Chief Election Commissioner, N. Gopalaswami said that the large proliferation of political parties as well as the use of money power in elections was a matter of continuous concern.
In comparison, Forbes has pegged the total wealth of 25 Indian billionaires, both resident and non-resident, at about $109 billion (over Rs 565,000 crore) — which is much more than the country’s fiscal deficit of Rs 326,515 crore or $63 billion (the revised Budget estimate) for fiscal year ending this month.
Besides, the Indian government proposed its total expenditure for 2009-10, in its interim budget last month, at about Rs 953,231 crore (about $190 billion), which is less than double the total wealth of billionaires in the country.
In comparison, the total expenditure proposed by the US federal government last month for FY10 stands at about $3 trillion — which is nearly three-times the wealth of American billionaires.
While the idea of getting rid of a country’s fiscal deficit or meeting federal expenses with billionaires’ wealth is hypothetical, a number of these billion-dollar networth people are known for their philanthropy.
Another list of Asia’s top philanthropists, published recently by Forbes, had four Indians, two of whom — Sunil Mittal and Anil Agarwal — have also made to the latest list of world’s billionaires. Telecom tycoon Mittal is ranked 59th globally, with a net worth of $7.7 billion, while metal moghul Agarwal is at 468th position with $1.5 billion.
India, whose high economic growth is driven mostly by the private sector, will witness a rise in the number of billionaires as compared to China in 2006, an official with the Forbes Asian Rich List said.
"This year there were 15 billionaires in China but last year in India, we had 20 billionaires," Contributing Editor of Forbes, Justin Doebele said in Beijing on the sidelines of the release of the Forbes' 2006 China Rich List.
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"We expect the numbers to go up as the markets in India have done pretty well this year," Doebele said noting that the Forbes Rich List in India will be mostly based on public listing.
He noted that India had better accounting systems than China, more transparent markets and liquidity. You can trust the numbers in India, again relative to China.
Tine Wee, Executive Director of Forbes Asia, said that Forbes will release the India Rich List, the third annual list, on November 27.
As polling for the first phase of the 15th Lok Sabha elections began , an election commissioner said that the poll panel has not been able to contain money power in the election process, though the noose has been tightened on criminal elements, relatively speaking.
Election Commissioner S.Y. Qureshi admitted that money has been exchanging hands during the campaign.
“We believe we have failed in doing that (stopping cash for votes). Money power is (something) we have not been able to control,” Qureshi said in reply to a question on the news channel CNN-IBN.
“Only when we observe something happening through media do we come down heavily. Lots of money is changing hands. We have not been able to control it,” he said.
The election commissioner denied charges of going overboard in ensuring security in the polls, saying making appropriate security arrangements is the constitutional mandate of the body.
Speaking to reporters, Gopalaswami said that while there were seven national parties and 49 state parties, there are about 950 parties in the 'other' category. 'We are registering at least three parties every week. And the Election Commission does not have the power to deregister parties.'
Hinting that these 'other parties' were a cover for other activities, Gopalaswami narrated the case of a 'political party' which was being investigated by the Income Tax department and consequently changed its name.
'There was this party called Parmarth, but it was nothing but swarth (greed),' he said. 'There always seemed to be one person contributing to the party, so we thought something was fishy.'
The Income Tax department sent its officers and they found 'one board, one chair, one table, possibly one telephone and not even one person'.
'All the money they had collected was invested in shares, jewellery etcetera,' said Gopalaswami.
Then, 'a great transformation took place in the party - from Parmarth, it became Matribhakt party,' he recounted, adding: 'Which is true, as they were paying obeisance to the goddess of wealth Lakshmi.'
Gopalaswami also said that the 'amount of money that is now being spent (in elections) is enormous'.
'In Andhra Pradesh this time, 22 crore rupees has been captured. In Karnataka, Rs.16 crore, whereas in the last assembly elections, Rs.45 crore was caught. If what we catch is five or 10 percent of what is actually spent, then depending on your calculation, the amount of expenditure is Rs.900 crore,' he said.
But the former senior bureaucrat said that the money power in elections was a 'manifestation of a disease, not the actual disease'.
Gopalaswami said it was a reflection of the wider problem of black money in the Indian economy.
He also referred to the efforts to curb criminals standing for elections, saying the matter was still with parliament for consideration.
'Is this really a thinking democracy which allows these kinds of people to contest?'
To curb bogus voting, he suggested that a single unique identity card should be issued all over the country.
Congress general secretary Rahul Gandhi said last February dominance of money power and nepotism was obstructing the entry of youth in politics.
“The youth want to join politics but don’t know the way. Once they enter politics, they don’t find it clean. They are confused about politics and it looks as if there is a wall between them and politics. We have to break this wall,” Gandhi said while addressing a gathering of the party’s district chiefs and grassroots workers at Ramlila Maidan here.
“Once they (youth) enter, they face many problems in moving ahead. At times money power is used and sometimes nepotism blocks the way. They say that they want to work but their work is not recognised. Until we solve all these issues, youth energy cannot be used,” he said.
“We should tap energy of youth in building the nation. But for this, we have to open our closed doors,” he said.
“In our attempt to do away with this, we held elections for the youth Congress in Punjab and (National Students Union of India) NSUI in Uttarakhand, which is a revolutionary step in the history of political organisations in India,” he said.
“I travelled across the country and found that people have one common complaint that there is no accountability. Congress led United Progressive Alliance gave National Rural Employment Guarantee Act (NREGA) to the poor, gave assured employment of 100 days and empowered the weaker section through the Right to Information (RTI) act.”
Cape Town (South Africa), Mar.17 (ANI): West Indian umpire Steve Bucknor, who will appear in his 128th and last Test here, has stirred controversy by saying that money power allowed the Indian cricket board to succeed in having him sacked from a Test match in Perth in 2008.
“Some people are more equal than others,” the Waikato Times quoted Bucknor, as saying in reference to the explosive second test in Sydney in January 2008 that led to India captain Anil Kumble filing a negative report on the West Indies official.
The BCCI then made noises about pulling out of their Australian tour if they didn”t get their way.
Reflecting on a 20-year career that has included a record five World Cup finals, the tall and calm Jamaican says he wasn”t surprised by the fuss the Indian camp made over his efforts in that eventful Sydney Test.
“I know that in the life of everyone there are going to be good times and bad times,” Bucknor told AAP in Cape Town.
“I have survived for a long time. Had it not been for strong-willed people within the ICC, I might have been out due to negative reactions from certain quarters. When you speak to a captain and he’’s not happy, you are reported. If his (national) association is strong enough they may believe that they should take action. Oh, this umpire shouldn”t be within the system because the captain is seeing something wrong, Bucknor said.
“I knew there would have been a moment when things would not have gone as well. But at the same time, I made two mistakes out of more than 40 calls. There are other who will say getting 90 per cent in a game is relatively good, he added.
“I got better than 94 per cent in that particular game, but it wasn”t good enough for some people. So, I was expecting these things to happen because on Earth. . . there are some people who are more equal than others, Bucknor said.
“Because they are more equal, they seem to have more say. And what they say, especially influenced by money, they seem to have their way. So I”m not too surprised,” he added.
Bucknor says Viv Richards is the best batsman he has umpired and Shane Warne the best bowler. He also enjoyed locking horns with Warne and Glenn McGrath.
“The tough bowlers. Shane Warne, Glenn McGrath and Andre Nel,” Bucknor said.
“Even when at times they are annoyed, later on Glenn McGrath will say `Steve, I thought that was the correct decision, but I”m coming back for another one”.
“In other words, he’’s happy for the correct decision. He knows he”ll have to work very hard to get the batsman out so he’’s always gunning at you, he’’s always having a word.
“So I don”t mind it. I like the tough guys, those who will question you. Not being rude but just you know saying, ”What was that missing Steve, if you say so, I”ll accept it”.”
Major charity foundations, government leaders and politicians of all stripes joined forces Thursday to push for progress in ending poverty and hunger and fighting diseases that continue to kill thousands of people each year.UN Secretary General Ban Ki-moon launched the one-day session on reviewing progress achieved so far on implementing the Millennium Development Goals (MDGs). He warned that a financial crisis sweeping across advanced economies would actually have its greatest effect on the poor.
Ban said the financial turmoil besieging many countries, including the largest donors like the US, was only adding to food and energy crises already affecting developing countries.
“The current financial crisis threatens the well-being of billions of people, none more so than the poorest of the poor,” Ban told the UN General Assembly. “This only compounds the damage being caused by much higher prices for food and fuel.”
“We must rise to all of these challenges immediately,” he exhorted the nearly 100 world leaders attending meetings at UN headquarters in New York to achieve the MDGs by its target date of 2015.
Ban called on governments to be “bold” and “generous” in their commitments during the meeting.
Bill Gates and his wife, who run the Bill and Melinda Gates Foundation, and Howard G. Buffett, whose foundation provided hundreds of millions of dollars to global programmes fighting poverty and diseases were present at UN meetings to answer calls for generosity.
The billionaires pledged this week initial funding of $76 million to the World Food Programme that will provide seeds and assistance to farmers over the next five years. The scheme hopes to help a total of 350,000 farmers in 21 developing countries by the end of that period and feed hundreds of thousands of people.
British Prime Minister Gordon Brown told the MDGs session presided over by Ban that the hungry are dying while the UN debated on programmes.
“Facing betrayal of the MDGs, we say again we will come, but many continue to die while we wait,” Brown said. “And I believe our greatest enemy is not war or inequality or any single ideology or a financial crisis; it is too much indifference.”
“Our global leadership itself is being questioned and let us face the shameful truth that while we have made huge advances - 40 million more children at school, three million children living who would otherwise have died, three million getting treatment for AIDS - the 2015 goal to cut maternal in infant mortality will not be met even in 2020 or 2030, not before 2050,” he said.
There are still 75 million of the world’s children not attending school, and the goal of providing education to every child will not be met on present trends in 2015 or 2025 or even in 2100, Brown said.
“I say to the richest countries of the world the poorest of the world have been patient, but a hundred years is too long to wait for justice,” he said.
Brown said he expected around $8 billion in new development initiatives to be put forward during the day.
The goal of reducing maternal mortality has so far eluded the UN despite global efforts involving various governments and organisations. At the UN, Norwegian Prime Minister Jens Stoltenberg launched Thursday a progress report on the global campaign for health.
The report called for urgent and effective international action to accelerate progress towards the UN goals of reducing maternal and child deaths by 2015.
It said in order to save three million mothers and seven million newborns from death each would require an additional 2.4 billion dollars in 2009, and rising to $7 billion in 2015.
The report called for mobilising international support for stronger health systems, including the training and recruitment of over one million health workers.
Stoltenberg and Brown announced a new taskforce that would look at new methods of financing for health programmes.
Bill Gates called health the “gateway to progress”, something that wealthy nations have all too often taken for granted.
It's millionaires and billionaires in Haryana polls
By Jaideep Sarin. Punjab, India, 08:00 PM IST
In a year when Haryana has got much less rainfall, it is raining millionaires and billionaires in the state's electoral fray.
Over 50 percent of the candidates in the fray for the Oct 13 assembly elections are millionaires and the ruling Congress is leading the pack with 80 percent of its 90 candidates being millionaires and billionaires.
Even more startling are the figures of the 42 legislators in the previous assembly who are seeking re-election. Between the February 2005 and October 2009 elections, their assets have increased a whopping 388 percent at an average of Rs.4.8 crore.
One legislator has recorded an increase of nearly 5,500 percent in assets in just over four years.
The figures have been arrived at by a survey of the contestants done by the NGOs, Association for Democratic Reforms (ADR) and National Election Watch (NEW).
At least 50 crorepati candidates have admitted to having assets worth millions but have failed to provide any income-tax permanent account number (PAN) - a must for all major financial dealings.
The ADR-NEW analysis, done from affidavits filed by the candidates, has found that the Congress has given the poll tickets to 72 millionaires and billionaires while the Indian National Lok Dal (INLD) has a list of 56 crorepati candidates.
Other parties are not far behind - Haryana Janhit Congress (HJC) has 44 millionaires, Bharatiya Janata Party (BJP) 41 and Bahujan Samaj Party (BSP) 29.
The average assets of all candidates of the Congress are pegged at over Rs.5 crore while for the INLD and HJC candidates the averages are above Rs.3 crore each.
Millionaire candidates in the February 2005 assembly election were only 19 percent of the 983 contestants compared to over 50 percent millionaires among the 1,222 contestants this time.
HJC candidate Mohit for the Kosli assembly seat has assets of over Rs.93 crore while the richest Congress candidate is industrialist-businessman and former union minister Venod Kumar Sharma for the Ambala city seat with assets of Rs.87 crore.
One of the richest women in India, Savitri Jindal, who belongs to the Jindal Steel group family and is a Congress candidate for the Hisar seat, has assets of over Rs.43 crore.
Ajay Singh Chautala, son of former chief minister Om Prakash Chautala, has declared assets of over Rs.28 crore. He is contesting the Dabwali assembly seat. BJP candidate Abhimanyu (Narnaul seat) also has assets of over Rs.27 crore.
District-wise, the highest number of millionaires are from Faridabad (45), Gurgaon (37) and Hisar (37).
At the other end of the assets spectrum, Ram Niwas, Samast Bharatiya Party candidate for the Israna seat, has declared no assets at all.
Kailash Bhagat, INLD candidate for Kaithal, has declared assets of over Rs.63 crore but has liabilities of Rs.55 crore. Former MP and HJC president Kuldeep Bishnoi has declared assets of Rs.17 crore but has liabilities of Rs.12 crore.
Money power rampant in BJP: Shekhawat
New Delhi, March 26 (IANS) Adding to the woes of the Bharatiya Janata Party (BJP) that is attempting to curb in-house bickering, former Indian vice president and party veteran Bhairon Singh Shekhawat has said 'money power was causing rampant indiscipline in the party'.
'Money power is the root cause of all problems in the BJP and this has resulted in rampant indiscipline within the party,' Shekhawat told newsweekly Outlook in an interview.
'Even god cannot deny that corruption has increased in the BJP,' he maintained.
'I have not been a member of the party for the last seven years but how can one deny the fact which is so apparent. In fact, money has led to indiscipline not only in the BJP but in all other parties,' said Shekhawat, also a former chief minister of Rajasthan.
Commenting on the recent tiff between BJP chief Rajnath Singh and party general secretary Arun Jaitley over the appointment of businessman Sudhanshu Mittal as in-charge of the northeastern states, Shekhawat said this was also an issue related to money power.
'I had been cautioning against this. All parties, including the BJP, ignore merit while deciding candidates for elections. The only criteria is how much money one can spend to win an election.'
'The BJP doesn't resort to same standards while selecting candidates as it used to do earlier...when the basis of selection itself is not right, then how do you expect that honest people and those having high moral standards will get elected?' Shekhawat wondered.
Shekhawat was elected vice president for a five year term in August 2002. In July 2007, he resigned from his post after losing the presidential poll to Pratibha Patil. Till 2002, he was active in politics and was considered one of the chief strategists of the BJP.
Indian Politics - india polls 2009
- UPA Leads in 198 Seats, NDA on 125
KR Iyer submitted 5 mnths ago from Times of India - 'Ghajini' Producer to Contest in LS Polls
KR Iyer submitted 7 mnths ago from Times of India - Vijaykanth launches campaign, rules out electoral alliances
sulekha news submitted 7 mnths ago from Indo Asian News Service - Lalu and Mulayam may join hands: Amar Singh
KR Iyer submitted 7 mnths ago from Times of India - BSP candidate held for killing of 10 policemen
sulekha news submitted 7 mnths ago from Indo Asian News Service - Allahadbad HC dismisses Varun Gandhi's appeal
DDivakaran submitted 7 mnths ago from Times of India - Indian Elections: Battle royal on the cards
KR Iyer submitted 7 mnths ago from Times of India - Congress, NCP strike seat deal in Maharashtra
sulekha news submitted 7 mnths ago from Indo Asian News Service - Hindu outfit comes out in support of Varun
sulekha news submitted 7 mnths ago from Indo Asian News Service - Plea to scrap DMK poll symbol dismissed
sulekha news submitted 7 mnths ago from Indo Asian News Service - BJP backs Varun, but takes on Election Commission
sulekha news submitted 7 mnths ago from Indo Asian News Service - Jagannath Mishra likely to join RJD
sulekha news submitted 7 mnths ago from Indo Asian News Service - Priyanka slams Varun for anti-Muslim comments
KR Iyer submitted 7 mnths ago from Times of India - BJP says Varun will remain its candidate
KR Iyer submitted 7 mnths ago from Times of India - RJD releases list of 26 candidates in Bihar
sulekha news submitted 7 mnths ago from Indo Asian News Service - BJP to decide on Varun's Candidature Today
sulekha news submitted 7 mnths ago from Indo Asian News Service - Varun is BJP's new vote-puller
purefriendship submitted 7 mnths ago from Daily News & Analysis - Pawar, Dutt won't vote for themselves
purefriendship submitted 7 mnths ago from Times of India - UPA could get 257 Lok Sabha seats: Survey
purefriendship submitted 7 mnths ago from Times of India - Election Commission Finds Varun Gandhi Guilty
KR Iyer submitted 7 mnths ago from ibnlive.in.com - Senior Congress leader in Andhra quits party
sulekha news submitted 7 mnths ago from Indo Asian News Service - PIL in SC to purge polls of convicts
KR Iyer submitted 7 mnths ago from Times of India - Sonia Gandhi to launch Congress poll campaign in Karnataka Monday
sulekha news submitted 7 mnths ago from Indo Asian News Service - Congress fields ex cricketer Madan Lal from Himachal
sulekha news submitted 7 mnths ago from Indo Asian News Service - BJD's sole woman MP joins BJP
sulekha news submitted 7 mnths ago from Indo Asian News Service - CPI-M's new ally in Kerala - PDP's Maudany
sulekha news submitted 7 mnths ago from Indo Asian News Service - Angry Congress to go solo in Bihar, can't help, says Lalu Prasad
sulekha news submitted 7 mnths ago from Indo Asian News Service - Azharuddin lobbies for Tonk seat
KR Iyer submitted 7 mnths ago from ndtv - Varun is our candidate from Pilibhit, affirms BJP
sulekha news submitted 7 mnths ago from Indo Asian News Service - Women MPs number yet to touch 50 in Lok Sabha
sulekha news submitted 7 mnths ago from Indo Asian News Service
http://newshopper.sulekha.com/indian-politics/news/money-power-rampant-in-bjp-shekhawat.htm
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