It is reported that the government has taken a serious note of the poor returns on the EPFO fund, from the Fund Managers dealing with the Funds.
The Employees Provident Fund organisation has got about 4.72 crore subscribers and about Rs. 30,000 crore are added every month through the subscriptions. These funds are allocated to the Fund Managers, mainly banks etc, which will have to give good returns so that the subscribers can get benefit out of the same.
In 2008 35% Fund was allocated to SBI, 25% to ICICI Securities and 20% each to Reliance Capital and HSBC. The period is for three years and the the same has ended by March 31st of this year. While ICICI earned 8.72%, HSBC earned 8.64%, SBI 8.61% and reliance 8.57%. This is less than the 9.5% interest granted to the subscribers by the EPFO and hence insufficient.
Further, there is the danger of earning very less returns and also loss sometimes according to the market variations. That is why the workers have been opposing the utilisation of the Pension Fund for the market purposes. It is the hard earned money of the workers and can not be allowed to be misused by the corporates.

A modest initiative has been taken by BSNL to utilise solar power for the mobile towers which will be most suitable in rural areas and villages where the electricity has not even reached. In Alwar District of Rajasthan such solar-powered moblie towers have now been installed. The Universal Service Obligation Fund (USOF) which funds such rural and village projects has certificated the use of solar-powered towers. The towers are installed on contract with Vihaan Networks Ltd which has developed the new towers.

Since November 2010 when the Mobile Number Portability (MNP) was introduced allowing mobile subscribers to change the service providers without changing their number, about one crore thirty lakh ( 13 million )subscribers have utilised the facility.
While some telecos have benefitted, BSNL and MTNL, the public PSUs have lost lakhs of connections, since the port-ins were less and the port-outs were more.
Serious effort on the part of the management and workers of BSNL is required to make a turn about from the present situation.

A good number of cine stars have been lime-lighted in the recent past not for their glamour or acting, but for the wrong reasons. It is mainly for avoiding payment of taxes to the government.
Income-Tax Department has raided the houses and offices of two super-stars in Kerala viz. Mohan Lal and Mammootty and it is reported that more than Rs. 30 crore undeclared income has been confiscated. In addition, it is also reported that money has been deposited in foreign banks. Antiques are also found, the values of which are yet to be assessed.
A few days back, Film producer Ekta Kapoor was detained at Mumbai Airport for undeclared branded goods and she was let off only after paying Rs.53,000 as penalty.Earlier also cine-actors Manisha Lamba, Bipasha Basu, Anushka Sharma and others have been caught and penalised for unaccounted cash and goods.
Legal proceedings were initiated against actor Salman Khan for hunting in the government forest, which got much adverse publicity.
Why are these cinema icons who have got large number of fans cheat the country and the government and earn a bad name. They should be models for the people and not law-breakers.

While most of the ministries of the Central Government are in the path of non-governance, there is one Department which is working 365 X 24 hours non-stop. It is the Department of Disinvestment, very close to the hearts of the Trimurtis ie. Manmohan Singh, Chidmabarm and Ahluwalia, PM, former FM and Chairman Planning Commission. The latest decision of the government is the disinvestment of National Buildings Construction Corporation Limited (NBCC) up to 10%. NBCC is at present having 100% government shares.
In the latest recession in the global market, the Government of India seems to be preparing to reduce the crisis by moping up money through selling the family silver. There is no doubt that resistance will come from the workers of the above PSU against disinvestment.

The propaganda by the vested interests that the Central PSUs are inefficient and are mostly loss-making is exposed as incorrect and ill motivated.While answering a question in the Parliament on Thursday, 11th August, Praful Patel, Minister for Heavy Industries and Public Enterprises told the house that in 2009-10, 158 PSUs earned profit while another 59 PSUs posted loss. More than 70% of the PSUs are earning profit, despite the anti-PSU policy of the Government.

While the number of ministers in the Central Government have been increasing year after year, the Central Government is taking a step-motherly attitude in posting the justified CMDS and Directors in the Central PSUs. As per the reply given in the Parliament by Praful Patel, Minister for Heavy Industries and Public Enterprises, it was stated that ONGC, Coal India Ltd., Hindustan Photo Films, Hindustan Paper Corporation Limited, SVJN Limited, Fertilisers and Chemicals (Travancore) Ltd.,TCIL, Central Electronics Ltd., National Projects Construction Company Ltd. are headless at present.
In the same way posts of 60 Directors in the various PSUs are not filled for years. In BSNL, the important post Director (Finance) is vacant for more than 3 years. Other two posts are also vacant. The indecision and delay in posting the CMDs and Directors are adversely affecting the functioning of these PSUs. Probably, the intention of the government itself may be the same. The Govenment should be compelled to fill up these posts urgently.

Rs. 1,000/- denomination coins will be in the market shortly.
The Parliament on Thursday, 11th August 2011, passed the Coinage Bill 2009 allowing minting of Rs.1,000 coins which will be legal coins in future. The Lok Sabha passed the Bill in March and the Rajya Sabha adopted the same yesterday.
The decision is in continuation of another decision to withdraw the 25 paise coin which was taken some time back by the Government. Eventhough 50 paise coin is legal, its use also is coming down.
All those coins less than 50 paise withdrawn from the market were once very important for transacting small purchases etc. Now they have become part of the collection of the coin collectors.
Earlier there was a demand that the Rs.1,000 notes should be withdrawn as a means of catching black money. Now, Rs.1000 coins are also being minted. It will not be far away that Rs.10,000 notes will be printed.

For the third consecutive day, rioting has been reported in UK protesting against the killing of a youth by the police. Shops have been looted offices have been put on fire and goondas are ruling the streets.
While the riot started as a protest against the killing the youth in an alleged fake encounter, the dissatisfaction of the workers on various counts may also be another reason.

One TV news channel has reported that DMK Minister Azhagiri has grabbed temple land by paying almost only one tenth of the market price. It is also alleged that Santiago Martin, rich businessman but of doubtable deals, has facilitated the deal. Is the third DMK Minister also to be charged for corruption.
How many more ministers of the UPA II government are going to be exposed for corruption?