Anna Continues Fast, Debate In LS Tomorrow; One Law Not Enough To Fight Corruption Says Rahul Gandhi; Nifty At 18-Mth Low, Sensex Down 297 Pts; U.S. Mkts Dip As Bernanke Offers No Signs Of New Stimulus

Friday, Aug 26, 2011

BREAKING NEWS
ANNA CONTINUES FAST; DEBATE IN LS TOMORROW
Parliamentary Affairs Minister PK Bansal said that the Lok Sabha is likely to take up the Lokpal debate tomorrow. The Lok Sabha will debate the four versions of the Lokpal bills on Saturday. BJP backed the Jan Lokpal Bill but with amendments. BJP leader Sushma Swaraj today moved motion in Lok Sabha under rule 184 and under rule 168 in Rajya Sabha. The party said that a discussion in Parliament on the anti-corruption Lokpal Bill must be followed by a vote. Meanwhile, sharp differences broke out among Team Anna, government and the Opposition today over the wording of the resolution for the debate in both Houses of Parliament on various drafts of the Lokpal Bill. read more
ONE LAW NOT ENOUGH TO FIGHT CORRUPTION: RAHUL
Breaking his silence, Congress leader Rahul Gandhi appeared to disapprove of Anna Hazare's fast, saying "individual dictates" must not weaken democratic process as dangerous precedents could be set. Rahul made a grand gesture on the anti-graft debate in Parliament and called for fortifying the Lokpal Bill by making it a constitutional body like the Election Commission. But Gandhi, expected to announce a game-changing formula, offered no solution to the present deadlock. (SEE 'TOP STORIES & TOP VIDEOS' -- RAHUL GANDHI'S SPEECH IN LOK SABHA) read more
LEAD STORIES
NIFTY CLOSES NEAR 18-MTH LOW, SENSEX BELOW 16K
Fresh build-up of shorts, sell-off by FIIs weighed on the markets. Nifty ended at 4,747.80, down 91.8 points; Sensex at 15,848.83, down 297.5 points. read more
ADI GODREJ OFFERS 1,750 ACRES TO MUMBAI FOR GREEN LUNG
Adi Godrej has offered 1,750 acres of land to Mumbai city for developing it as a nature reserve to protect its dwindling mangrove forests. read more
FED CHIEF BERNANKE OFFERS NO SIGNS OF NEW STIMULUS
Federal Reserve Chairman Ben Bernanke said he stands ready to use additional tools to help the U.S. economy in its nascent recovery. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 15848.83 -297.5
NSE 4747.8 -91.8
TURNOVER
Rs. 113,763 cr
BSE CASH
Rs. 2,240 cr
NSE CASH
Rs. 10,148 cr
NSE F&O
Rs. 101,374 cr
BULLION
GOLD 26828 +452
SILVER 62011 +60
CRUDE
NYMEX 84.33 -0.97
BRENT 109.68 -0.94
FOREX
$ / Re 46.15 +0.11
£ / Re 74.952 +0.01
€ / Re 66.299 +0.14
EVENTS

27 August
Team Anna Calls For 'Dilli Chalo'


29-30 August
6th Annual Conference On Coal In India, The Imperial, New Delhi
Life Science Conclave 2011, The Lalit, New Delhi


31 August
'Wise Men' Of Business To Meet


5 September
SAT To Hear Sahara's Plea On OFCDs


5-7 September
India Japan Global Partnership Summit, Tokyo, Japan


6-7 September
10th Annual Conference On IT In Power, The Grand, New Delhi
World Energy Policy Summit, ITC Maurya, New Delhi

EXPERT VIEWS

"I would respectfully request Anna to break the fast once the government has given assurance. Anna has delivered tremendous service to the nation by his movement and we need him to be strong to fight an even bigger battle. If there is a reason of chance for success then Parliament should go ahead."

NR Narayana Murthy
Chairman Emeritus, Infosys
"Today, the proposed law is against corruption. Tomorrow, the target may be something less universally heralded. It may attack the plurality of our society and democracy. Witnessing the events of the last few days, it would appear that the enactment of a single bill will usher in a corruption-free society. I have serious doubts about this belief."

Rahul Gandhi
Congress General Secretary
"I feel I am not in Team Anna any more by the way things are going. These (telling Parliament what to do) are not democratic things. I can't justify these things that you give command to Parliament. No (it should not be done). I have been a judge and I believe in certain democratic principles. And to me, it's very difficult to digest."

Santosh Hegde
Social Activist

WATCH OUT
Indianomics
US Fed Chief Ben Bernanke is expected to announce steps to stir up the sluggish US economy. If he hints that he will go for another round of quantitative easing (i.e. buy bonds from banks and print dollars to pay them) it could mean higher commodity prices and more money into Indian and emerging market equities. But will he? On Indianomics this week catch a galaxy of financial wizards who will decode what Bernanke says and what it means to your job, your EMIs and the price you pay for petrol and food.
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