Warming may push India into war with neighbours: IPCC

New Delhi: Asia is facing the brunt of climate change and will see a severe stress on water resources and foodgrain production in the future, increasing the risk of armed conflict among India, Pakistan, Bangladesh and China, the latest report of a UN panel has warned. 

    The UN’s Intergovernmental Panel on Climate Change, in its report assessing the impact of climate change on human health, settlements and natural resources, carried a dire warning: The worst is yet to come if no measures are taken to curb the ill-effects of global warming. 
    The report, released on Monday, said India, like other developing economies, may lose up to 1.7% of its GDP if the annual mean temperature rises by 1 degree Celsius compared to pre-industrialization level, hitting the poor the hardest. It also predicted a rise in extreme weather events like the flash floods in Uttarakhand and cyclone Phailin if steps were not taken to check the rise in temperature. 
ALARM BELLS 
More extreme weather events in most parts of the globe in coming years 
Maldives, China, India, Pak, Bangladesh and Sri Lanka among most affected in Asia 
Possible armed conflict over fresh water resources in South Asia and China (Himalayan river basins) by middle of 21st century Impacts of climate change will touch everyone: Pachauri New Delhi:Warning of tough times if temperatures are allowed to rise, chairman of the UN Intergovernmental Panel on Climate Change R K Pachauri said on Monday, “Nobody on this planet is going to be untouched by the impacts of climate change.” 
    He made the statement while releasing the IPCC's report in Yokohama, Japan. The report warned that a rise in temperatures would also affect ‘beach tourism’ in many countries. India stands out as the most vulnerable among 51 countries where beach tourism is an important sector. 
    Climate change is not just about the future. The IPCC said people around the world were already getting hit as it directly affects livelihoods, reduces foodgrain production, destroys homes and raises food prices. These trends will accelerate if climate change is left unchecked. Among other things, the report warned that climate change would increase the risk of armed conflict around the world because it would worsen poverty and economic shocks. “Climate change is already becoming a determining factor in the national security policies of states,” said a statement issued by the UN Framework Convention on Climate Change, which has been working to arrive at a global climate deal by 2015 to fight the menace effectively through combined efforts of nations. Though the report does not have countryspecific predictions, its region-wise findings brought out many eye-opening conclusions for India. 
    Aromar Revi, lead author of one of the chapters of the report, said the impacts of climate change would be felt severely in the Indo-Gangetic plains, affecting poor people in the region. “The areas which are facing frequent floods these days may face droughtlike situation. We cannot ignore the changes which are taking place either in the Indus river basin or in Brahmputra river system over the longer period,” said Revi, explaining the implications of the report in Delhi. 
    Another lead author, Surender Kumar, explained how climate change would affect the poorer nations. He said if mean temperatures increased beyond 1 degree C, it would knock 3% off the GDP of developing economies.

The report warned that climate change will hit livelihoods, reduce foodgrain production and increase risk of armed conflicts for resources

Sensex, Nifty at new peaks, gain nearly 20% in a yr

Mumbai: Boosted by strong foreign fund buying, both the BSE sensex and the NSE nifty closed at new highs for the sixth consecutive session on Monday, taking the total gain for the just concluded financial year to 19% for the sensex and 18% for the nifty. 

    The gains in the benchmark indices came on the back of a $13.4 billion net buying by foreign investors even as mutual funds were net sellers. Significantly, the 
market gains during FY14 also propelled the total wealth of investors to Rs 74 lakh crore, near the all-time peak of Rs 77.6 lakh crore recorded on November 5, 2010. The gains in the sensex during the year came as 26 of its 30 constituents closed higher, led by Hindalco, Maruti Suzuki and Tata Motors. 
    One of the highlights of the year was the sharp slide in the market between July and August when the Indian rupee went into a tailspin and touched its lifetime low against the dollar at 68.93 in intra-day trades. From its August 28 low of 17,449, the sensex has rallied a little over 28% to its current all-time closing high level. Since the August dip, as the rupee appreciated about 10% to its sub-60 close now, FIIs have been net buyers in the stock markets. 
    In addition, falling inflation, improved current account deficit and a gradual strengthening of other economic fundamentals also helped the market, brokers and dealers said. A strong mandate in favour of the BJP in four state elections in December last also helped improved investor sentiment.

Modi promises to act against Ashok Chavan Slams Cong For Ticket To Ex-CM Tainted By Adarsh

Mumbai/Nanded:The BJP’s prime ministerial candidate, Narendra Modi, on Sunday lashed out against Congress president Sonia Gandhi and vicepresident Rahul Gandhi for nominating former chief minister Ashok Chavan as a candidate for the general elections. He also promised to prosecute all politicians involved in the Adarsh scam if the BJP came  to power after the polls.      Addressing an election rally in Nanded, Chavan’s home town and from where he has been nominated, Modi said it appeared that neither Sonia nor Rahul were determined to eradicate corruption in politics. “It’s doublespeak. Rahul Gandhi had declared that there will be absolutely no compromise with corrupt politicians and stern action will be taken against politicians involved in the Adarsh scam. I was shocked to see Ashok Chavan’s name in the list of Congress candidates. It’s a gift to Chavan and reflects Rahul Gandhi’s doublespeak on corruption,” Modi said. “The shahzada (prince) has been misleading the people of the country, saying that he doesn’t tolerate corruption or corrupt people. Is this the Congress’s way of tackling corruption?”      Modi said it was shocking that Adarsh flats meant for the widows of Kargil war heroes had been sold to netas and looted for obvious reasons (the society was actually set up for the ‘welfare of retired and serving defence personnel’).  Youth Congress leader’s ‘rape-murder’ may hit party’s poll chances in Latur T he alleged rape and murder of a female Youth Congress leader in Latur on March 21 and the subsequent arrest of two party office-bearers on Saturday could hit the party’s prospects in Latur, report Syed Rizwanullah & Himanshu Nitnaware. Mahendra Vikramsinh Chavan, president of the Latur assembly constituency affairs in-charge of the YC, and his associate Sameer Killarikar were on Sunday remanded in police custody. According to police, the 26-year-old woman had gone with the duo who asked her to attend some programmes to mark MLA Amit Deshmukh’s birthday celebrations. Deshmukh is the son of the late former chief minister Vilasrao Deshmukh. P 9 ‘BJP will stagger food security rollout’ B JP leader Yashwant Sinha on Sunday hit out at Union finance minister P Chidambaram for “making it a habit” to leave behind a fragile economy, and indicated that his party, if voted to power, may stagger the rollout of the food security law. “(Managing) inflation will be the first priority. Or else, the RBI will not be able to get space for a cut in interest rates,” Sinha said, adding that there was a case for reviewing the controversial gas price formula, which will double the price of the fuel. P 8 Smriti Irani is set to fight Rahul in Amethi The BJP appears on the verge of fielding Smriti Irani against Rahul Gandhi in a bid to tilt the hitherto lopsided battle in Amethi. If it does go ahead, it will be a three-way fight between Rahul, Smriti and AAP’s Kumar Vishwas. The decision to field Smriti, a Rajya Sabha MP, stems from the estimate that the anti-Congress mood in the country may have rendered even the family stronghold of Amethi vulnerable. However, there is no clarity on pitting Uma Bharati against Sonia Gandhi in Rae Bareli. P 9 Modi vows to purge politics of crime      In a speech that lasted 25 minutes, the BJP’s prime ministerial candidate, Narendra Modi, devoted 15 minutes to Ashok Chavan and the Gandhis.      Taking a dig at Chavan, the BJP leader said, “The former CM has not spared even his sister (by opposing the re-nomination of her husband and sitting MP Bhaskrao Patil Khatgaonkar). No one steals the right of a sister, but Chavan has done so. Instead of withdrawing in favour of his sister (her husband), he snatched her right.’’      He said the nation was keen to know from both Sonia and Rahul as to what prompted them to nominate Chavan. “They have been promising a corruption-free India, but their actions do not reflect their promises. Once we come to power, we will take stern action against all politicians named in the [report of the Adarsh judicial] commission,” Modi said.      He said it was unfortunate that despite strictures against Chavan by the judicial commission, the Congress chose to nominate him. “I am surprised at (Sonia) Gandhi’s statement that since no court has barred him from contesting the polls, the Congress has nominated him... A crime was committed in the name of providing benefits to the widows of Kargil war martyrs. I will not spare those who have looted the widows of the Kargil martyrs.”      Modi said he intended to cleanse politics of criminal elements and corruption. “It’s a part of my cleansing (shuddhikaran) plan. All pending cases against MLAs and MPs will be tackled within a year. I will not discriminate while cleansing the system. The guilty will have to spend time in jails and those found innocent will be spared. Even other parties will have to toe the line, and will not dare field criminal or corrupt candidates in future.”      Modi instantly struck a chord with the gathering when he spoke in Marathi, wishing everyone on Gudi Padwa. He said that one of the ‘panchpyaras’ accompanying Guru Gobind Singh was a Gujarati. “We have constructed a big hospital in Gujarat to commemorate the association of the Gujarati panchpyara with Guru Gobind Singhji.”      Modi reiterated that he would bring back black money stashed in foreign banks. Corrupt officials will be dealt with sternly while honest ones will be rewarded, he said. He also launched a scathing attack on the central government for “playing with the sentiments of the people”, particularly women who have faced sexual assault, by introducing “Nirbhaya funds”. “Last year, they said they had made a provision of Rs 1,000 crore in Nirbhaya funds to help oppressed women, but not a single paisa was spent. This year, too, they have made a similar provision,” he said.      As per Modi’s original itinerary, he was expected to address election rallies in Amravati and Akola. But when the Congress nominated Chavan, Nanded was added to Modi’s campaign list.      Refuting Modi’s allegations, Chavan said it was unfortunate that the BJP’s prime ministerial candidate was making allegations without doing his homework. “I am innocent. I am not involved in corruption. Neither am I convicted, nor have I been barred by any court or the EC from contesting the polls,” Chavan said.      Congress spokesperson Sachin Sawant criticized Modi for his uncalled-for statement against the Gandhis. “Modi has no moral right to speak against Chavan. Politicians who were convicted or jailed were members of Modi’s Gujarat cabinet,” Sawant said. Pending criminal cases against MLAs and MPs will be tackled within a year if Narendra Modi becomes the PM, the BJP leader told voters in Nanded

EC O N O M Y, B U SI N E S S , E N T R E P R E N E U RS H I P

    The entire tax regime – both direct (personal and corporate income tax) and indirect – needs a revisit. Given that less than 3% of the population shows any taxable income at all, there’s clearly a need to bring many more into the net instead of burdening the already taxed. It’s also high time the field were levelled and rich farmers were made to pay income tax. 

    Tax rates for personal taxpayers should be made more reasonable, in keeping with infl ation, if nothing else. The salaried class would benefit from reintroduction of standard deduction (a flat amount that is deducted from income, with the balance subject to tax). The bulk of taxpayers comprise the salaried class and reintroduction of standard deduction, abolished from April 2005, is the simplest way to usher in an additional tax reform for this class. This will also usher in equity, as currently individual taxpayers who are professionals or businessmen are entitled to offset their business expenses against income. Salaried taxpayers only get certain tax sops – such as HRA, LTA, medical or transport allowance – but these in large cities translate into peanuts, such as the Rs 800 per month tax-free travel allowance. 
INDIRECT TAXES: SEAMLESS, PAN-INDIA REGIME 
    On the indirect tax front, political compulsions have repeatedly delayed introduction of the streamlined pan-India goods & service tax (GST). Value Added Tax, which has replaced statespecific sales tax in most states since April 2005, started off on the right note – with an intent to provide for uniform tax rates, an input tax credit mechanism to prevent ‘tax on tax’, and relatively standard processes. Today, because of local revenue compulsions, states have increased VAT rates and blocked or reduced input tax credit (which allowed a credit for taxes paid on intra-state purchases), 
thus hampering pan-India trade. India needs to be a seamless, not a fragmented, marketplace. VAT must be put back on track by bringing about uniformity in tax rates, rules and procedures in different states. In the long run, call it GST or by any other name (say, central VAT or consumption tax), but there needs to be an economically effi - cient indirect tax regime that promotes growth. Many developed countries have introduced a federal consumption tax. This is also emerging as the preferred alternative to customs duties in the context of trade liberalization. 
NO RETROSPECTIVE CHANGES 
    Retrospective amendments to law must be introduced only in the rarest of rare occasions to correct a flaw in the tax provisions and not to earn revenue. Otherwise it will only add to pending litigation (worth Rs 2.7 lakh crore in 2012-13). 
REVIEW APPEALS 
    Areview of the appeals process may be worth undertaking. The first stage of tax appeal in India is the Commissioner (Appeals). Some countries ensure that the appeals division is independent and has no links with the tax department which is responsible for tax assessment, scrutiny and tax demands. In the US, the appeals division is an independent body, whose officers are evaluated based on their ability to settle cases without next-step litigation. 
END WASTEFUL GOVT EXPENDITURE 
    Instead, focus on a handful of critical areas such as education, healthcare, infrastructure and law and order/security, but with a far stricter audit of performance and finances. Give taxpayers a clear, unambiguous idea of where and how their money is being spent. Several ministries, ranging from textiles and steel to culture and youth affairs can be disbanded. Also, the government should exit slothful, perenially-hemorrhaging undertakings like Air India. 
ALLOCATE RESOURCES IN A TRANSPARENT MANNER 
    Some of the biggest corruption scandals of the past several years have arisen out of either misconceived or rigged allocation of resources such as coal, ore, spectrum and land. The 1991 industrial policy of the Narasimha Rao government was meant to usher out the licence raj, but just the opposite has happened; 
    sale of government-controlled resources has 
    become the new frontier of talism. The process by which natural resources are allocated to the private sector must be made transparent and designed to serve public interest rather than the government of the day and its favoured few. This can be done once it is recognized that maximizing short-term revenues for the government does not maximize 
    public interest. Public interest is best served when we ensure a healthy, competitive industry, which is then able to offer goods and services to consumers at a reasonable price. A one-step e-auction, conducted by an independent body, is the best means of addressing these multiple objectives. 
BRING BLACK MONEY BACK 
    Areport by Global Financial Integrity states that India has lost nearly $213 billion (about Rs 14 lakh crore) in illicit capital fl ight since Independence (till 2008). Even if, say, 20% of it can be brought back, through an amnesty scheme, that is close to Rs 3 lakh crore, which is more than the Centre’s annual education and healthcare budgets. The repatriated funds could be taxed at 3-5% above current Indian rates, as a moderate penalty. Three-fourths of it (Rs 2.25 lakh crore) could be exclusively earmarked for spending on health, education and infrastructure, and the remaining one-fourth (Rs 75,000 crore) could be distributed as a onetime rebate among all individual taxpayers in proportion to their taxable income – as a reward for honesty (yes, it might be diffi cult to execute, but worth considering). Total income tax collections are budgeted at less than Rs 2.5 lakh crore in 2013-14. A large inflow of dollars would also help strengthen the rupee. In the US, the American Jobs Creation Act, 2004, offered a temporary tax sop to companies that repatriated dividends by imposing a tax levy of just 5% instead of 35%. However, the repatriated money was allowed to be spent on specific permissible activities like R&D and capital expenditure which would promote growth and job creation. (It could not be used for, say, declaring dividends or for share buybacks.) 
CREATE JOBS THROUGH PVT SECTOR INCENTIVES 
    About 50% of India’s 1.21 billion population is less than 25 years old. The government will need to ensure that the employment expectations of its skilled and educated youth are met – a need that cannot be fulfi lled via government sector employment or funded schemes alone. The participation of the private sector is critical. Tax exemptions, grants for job creation, credits against tax payable, weighted deductions for the cost of new hires and their training costs are some of the variants used globally to encourage job creation in the private sector. Countries such as Hungary, Portugal and Switzerland offer tax breaks for investments that result in a specific number of new jobs. Luxembourg incentivizes both training and hiring – 10% of training costs and 15% of gross salary paid to persons who were earlier unemployed can be offset as a credit against corporate income tax. Direct incentive by way of a cash grant is available on newly created jobs in the Slovak Republic. 
PROMOTE FOREIGN DIRECT INVESTMENT 
    All industries, including retail, media and defence, should be opened up to FDI. The Indian retail market is expected to be worth $500 billion by 2020 and could create up to 100 million jobs in the next 10 years. Also, a decision taken by the Union Cabinet to allow FDI in a sector must be respected across the country; states mustn’t be allowed to block entry. 
PRIVATIZE AND DISINVEST AS FAR AS POSSIBLE 
    PSUs should be privatized as far as possible – especially in industries such as aviation, hotels and steel – but in a fair, transparent manner (just as with resource allocation). Elsewhere, the disinvestment route should be taken. 
MAKE IT EASIER TO START A BUSINESS 
    India ranks 134th among 189 countries, according to a World Bank report on ease of doing business. On ease of starting a business, it ranks even lower: 166. The report says that 35 permissions/procedures are required to construct a warehouse, which takes an average of 168 days. One can only imagine the time and number of clearances it takes to build a factory. Small businesses, too, face frustrating hurdles: for instance, to open a bar & restaurant in Maharashtra, 38 licences are required, many of which date back to colonial times and are outright bizarre. This allows corrupt inspectors to make money at every turn; those who resist, are harassed till they pay up or shut shop. Why should it be so difficult to start a business? It provides employment, creates wealth and generates revenue for government. There’s a crying need to drastically reduce the number of permissions required, set a tight time limit for them to be granted (if all the paperwork is in order) and penalize babus if they take longer. Also, the entire system should be online and transparent. 
PROMOTE MICRO, SMALL & MEDIUM ENTERPRISES 
    MSMEs generate the largest employment (nearly six crore) after agriculture. In terms of value, MSMEs account for 45% of total manufacturing output, 40% of exports, and contribute around 8% to GDP. 
But they find themselves stymied by their very regulatory definition. For instance, under the MSME Development Act, a small enterprise in the manufacturing sector is one whose investment is between Rs 25 lakh and Rs 5 crore, and for the service sector Rs 10 lakh to Rs 2 crore, which is too low. Those who wish to expand find themselves bereft of credit – which either flows to the ‘well-defined’ MSME sector or large companies. For growth to be encouraged, there is a need to redefine what constitutes MSMEs. Across the European Union, three parameters are used to define what constitutes a micro, small or medium-sized enterprise: employee strength, turnover, balance sheet value. While employee strength is a fixed criterion, a company can chose to opt for either the turnover or balance sheet criterion. In the MSM ranking, a medium-sized enterprise is one which employs fewer than 250 persons and which has either an annual turnover of less than 50m euros (Rs 426cr) or a balance sheet value of not more than 43m euros (Rs 366cr). If enterprises fall in this range they are eligible for a variety of funding. Providing a tax credit or investment allowance to MSMEs is another solution. 
FLEXIBLE LABOUR MKT, BUT WITH A SAFETY NET 
    Innumerable surveys around the world have shown that labour market infl exibility actually hurts creation of jobs – employers are wary of hiring even in boom time if they are not allowed to trim their workforce in a downturn. A flexible labour market, on the other hand, gives employers the confidence to add staff. But this 
must be accompanied by a comprehensive social security programme, including unemployment benefits/insurance and assistance in retraining and finding alternative avenues of income generation. (Obviously, people who have no interest in working cannot be kept on a dole.) 
EASE LAND ACQUISITION FOR INDUSTRY 
    Industry is complaining that the new law will make it very difficult for it to acquire land, even for important infrastructure projects. There is a need for better compensation, but the price of acquisition should not be so exorbitant that it hobbles industry. A middle path that is fair to all sides needs to be found.

30,000cr stimulus to economy expected from poll spending From Advertising To Travel, Many Sectors Will Gain

NewDelhi:The country’s faltering economy is likely to get a significant stimulus from election spending by political parties, candidates and the government, which estimates suggest could be as much as Rs 30,000 crore. 

    The Rs 30,000 crore figure is comparable to the $4 billion (around Rs 20,000 crore at the prevailing exchange rate) additional spending that the government announced in 2008 to shield the economy from the impact of the global financial crisis. 
    It is, however, less than the $7 billion raised and spent by political parties in the 2012 US presidential polls. ‘Notes for votes’ will be big part of poll spend 
New Delhi: The election spend is often more effective than official economic stimuli as the money is actually spent—virtually without any transmission loss—in a short time. Moreover, there is a “trickledown effect” as it often reaches the poorest voter. 
    This poll there will be a sharp increase in expenditure from the 2009 elections, when total spending was estimated at Rs 10,000-Rs 15,000 crore. Experts pointed out that a large chunk of the spending by political parties and candidates is in cash, which makes it difficult to estimate the actual amount spent. 
    “Spending will increase significantly in these elections. The estimate is about Rs 30,000 crore,” said N Bhaskara Rao, chairman of the Centre for Media Studies, a New Delhibased think tank, adding that the figure includes the expenditure by the Centre. “No other election can match the 2014 elections.” He said the figure was based on an elaborate analysis undertaken by the think tank, which has been tracking various segments of elections since 1997. 
    The 2014 general elections come at a time when growth is estimated to have slowed to a decade low of 4.9% and the industrial sector is weighed down by the slowdown in global and domestic demand. 
    Several sectors of the economy, ranging from advertising, air charter services, security services, food and beverages, transport, liquor, fuel and automobiles are expected to see hefty activity thanks to the sharp increase in spending. “Election spending provides a very sizeable boost to the economy. Traditionally we have seen it adds 0.2-0.3% to growth,” said Pronob Sen, chairman of the National Statistical Commission. 
    Officially, the spending will only be a fraction of the amounts being talked about. In 2009, 8,070 candidates contested the polls. Assuming a similar number this time, and taking into account the expenditure ceiling for each candidate of Rs 70 lakh for the 2014 polls in most states, spending by candidates should officially be in the region of Rs 560 crore. In addition, government spending on general elections would add up to about Rs 1,000 crore. 
    Rao said a large chunk of the expenditure by parties and candidates is likely to involve unaccounted money, which is used for what he described as “notes for votes”. 
    For the full report, log on to www.timesofindia.com 

VETERANS BACK IN FRAY 
CONGRESS Veerappa Moily 
| CHIKKABALLAPUR 
Pawan Kumar Bansal | CHANDIGARH V Narayanasamy 
| PUDUCHERRY 
Rita Bahuguna Joshi 
| LUCKNOW 
Shashi Tharoor 
| THIRUVANANTHAPURAM 
Subodh Kant Sahay 
| RANCHI Raj Babbar | GHAZIABAD GLAM QUOTIENT Nagma MEERUTBJP Shobha Karandlaje | UDUPI-CHIKMAGALUR 
Shahnawaz Hussain | 
BHAGALPUR 
RJD rebel Ramkripal Yadav | PATLIPUTRA Yashwant Sinha’s son Jayant | HAZARIBAGH Rajiv Pratap Rudy | SARAN Ex-home secy R K Singh | ARA S S Ahluwalia l DARJEELING Sushma Swaraj | 
VIDISHA 
Poonam Mahajan 
MUMBAI NORTH-CENTRAL

Eastern Freeway to become India's longest in April Last 3Km Stretch, Tunnel To Be Inaugurated

Mumbai: The entire stretch of Eastern Freeway from Orange Gate in south Mumbai till Ghatkopar will be thrown open to public in the third week of April, making it the longest such dedicated corridor in the country. The 16.59-km route can be covered in 25 minutes, cutting down on travel time by almost 50 minutes. 

    Usually, it takes one-and-a-half to two hours to cover the stretch by road, depending on traffic. 
    “The last 3 km portion of the Freeway from Chembur to Ghatkopar-Mankhurd Link Road is on the verge of completion. Once that stretch is inaugurated, it will especially benefit motorists from Ghatkopar and those travelling to Thane and beyond,” said a senior official of MMRDA, the implementing agency of the project. The first stretch of the Freeway—9.29km of elevated corridor from Orange Gate to Anik and 4.3km groundlevel stretch till Shivaji Chowk in Chembur—was opened in June 2013. The official further said, “We have undertaken several measures such as improving the condition at the Panjrapole junction in Chembur so that the waiting time at the signal can be reduced. We plan to shorten the radius of the rotary island at the signal to provide more road space.” The entire project cost Rs 1,463 crore. 
    Besides the 3-km stretch, the second tunnel, meant for vehicles bound for south Mumbai, will also be opened. “The work on the second tunnel is complete. But the road surface there is being improved and so, the entire width is not available to traffic for the time being,” the official added. Work on a pair of ramps near Bhakti Park, which will help motorists take the freeway to Chembur, is also at an advanced stage of completion. Two other pairs of ramps—one at the Govandi ROB junction and the other at Ghatkopar-Mankhurd Link Road—will also be inaugurated at the same time. A fourth one, which will help vehicles to and from Wadala, Dadar, Mahim and Matunga access the Freeway will be ready in May. 
    Diversion of vehicles to the Freeway has already eased snarl on Dr Ambedkar Marg, Rafi Ahmed Kidwai Marg, MbPT road and the Eastern Express Highway. The opening of the last phase will help further reduce congestion on Dr Ambedkar road. Around 50% fuel consumption and that in the levels of harmful emissions and noise are also likely to go down. 
    Explaining the delay of the last stretch, officials said that MMRDA had to rehabilitate 495 families. Rehabilitating them, land acquisition and hurdles faced by the presence of transformers and pumping stations in the way pushed back the deadline, an official said. 
Kherwadi flyover 
    he south-bound arm of the Khe-Trwadi flyover is likely to be opened in May. The 585-m-long flyover, costing Rs 28 crore, is expected to reduce snarls on the Western Express Highway. MMRDA’s metropolitan commissioner UPS Madan said, “We hope to finish the work by May. After that work on the north-bound fank will begin.” 
    A traffic official said, “Though the corridor is meant for south-bound traffic, we may allow north-bound vehicles on it in the evening. But a final call will be taken later.” TNN

Motorists can cover 16.59 km from south Mumbai till Ghatkopar in 25 minutes

Online ads firm Quikr raises 548cr from foreign investors

Mumbai: Quikr, a Mumbai-based online and mobile classifieds player, has raised $90 million (Rs 548 crore) from a clutch of marquee investors led by a Swedish private equity fund, Kinnevik.      The development signals the robust growth in India’s consumer internet businesses which have seen a steady flow of investor funds on the back of a fast growing internet population. The other big investors which have pumped in funds in Quikr are PE major Warburg Pincus, Norwest Venture Partners, Ebay and Nokia Growth Partners.      Last month, Ebay Inc led a $134 million investment in online marketplace Snapdeal, even as collectively domestic online retailers such as Flipkart, Myntra, Jabong raised more than $600 million in the past nine months.      The five-year old company, founded by Pranay Chulet, an IIT-Delhi and IIMCalcutta alumnus has to date raised $150 million in funds, and competes withthe likes of OLX, which is backed by the South African internet and media giant Naspers. Quikr boasts of 30 million unique monthly users across 1,000 cities and towns with as many as 12 million listings through its mobile and online platforms and is being valued at about $250 million. Quikr eyes 100m users in 3-4 years  Mumbai: Based on the concept of the American classifieds giant Craigslist, Quikr registers listings for categories like jobs, automobiles, used goods, services and electronics.      Pranay Chulet told TOI that the investment will be used to continue to build the business.      “We should be able to cross 100 million unique users in about three to four years,” said Chulet, who grew up in a small mining town in Rajasthan before going to IIT-Delhi and IIM-Calcutta. He later worked in New York for ten years as a consultant before coming back to India in 2008 to start Quikr a year later.      Quikr which provides a platform to consumers to help them buy, sell, rent various products and services has other investors including Matrix Partners India and Omidyar Network. Quikr was formerly known as Kijiji.in an Ebay-owned platform .      This $90 million round, which is by far the biggest for Quikr, has got on board a new investor in Kinnevik, one of the largest listed investment companies in Europe with total assets of $7 billion, which has ploughed in top dollars in Rocket Internet, the world famous German incubator of internet companies including Jabong and FabFurnish in India.      However, Quikr will be the Stockholm-based fund’s first direct investment in India. The PE firm specialises in online investments mainly focused around e-commerce and marketplaces. Warburg Pincus, the New York-based PE biggie, which is also a part of this round of  funding, first invested first in Quikr in 2012.      “We are excited about Kinnevik joining us in our journey as we build the business from here on. We liked their experience in the classifieds space,” Chulet said. A decade long economic buoyancy and changing lifestyles of a large demography makes India one of the last potentially big frontiers for global investors both financial and strategic ones like Ebay. Mumbai-based investment bank Avendus Capital was the lead advisor to Quikr on the deal along with Investec. Pranay Chulet (40), founder of Quikr

Rahul compares Modi to Hitler, says he stole Guj farmers' land Can A Thief Be A Chowkidar, Asks Cong VP

Balasinor (Gujarat): In what could turn out to be the “maut ka saudagar” moment of this Lok Sabha elections, Congress vice-president Rahul Gandhi on Tuesday compared the BJP’s prime ministerial candidate Narendra Modi to Hitler, and accused him of stealing land belonging to farmers, calling him a thief. 

    Addressing a large crowd in Balasinor in Gujarat’s Panchmahal Lok Sabha constituency, Rahul hit out without taking Modi’s name but his target was unmistakable: “Congressmen follow Mahatma Gandhi and meet people 
and visit their homes. Other leaders are like Hitler. Hitler believed there was no need to learn from the people. Whatever will happen in Germany will be done by Hitler.” 
    Ridiculing Modi for his request to the people to make him the “chowkidar” of the country, Rahul said, “This man says make me the chowkidar and corruption will go. How can he be the chowkidar of India when in Gujarat he has stolen farmers’ land and gifted it to select industrialists?” Rahul added, “Chor ko chowkidar kaise bana dein?” 
    Responding to Rahul’s reference to Hitler, BJP spokesman Ravi Shankar Prasad told TV channels, “These are dialogues of the 1970s. They have no relevance in 2014.” 
    During his 25-minute address, Rahul raked up the issue of former Karnataka chief minister B S Yeddyurappa being brought back into the BJP and mocked the party’s claim of battling corruption. 
    “If they were serious then why did they allow three convicted ministers to serve in Gujarat? There was no Lokayukta in Gujarat until the Supreme Court intervened,” Rahul said. 
    The last time a Nehru-Gandhi family member had addressed a gathering in Balasinor was Indira Gandhi in 1972. 
    Rahul also derided the BJP’s schemes of raising money from people who attended Modi’s rallies. 
Cong leaders shy away from poll race I n a development that betrays nervousness in the Congress ranks about the party’s prospects, shipping minister G K Vasan has pulled out of the Lok Sabha poll fray, citing his responsibilities as a campaigner in Tamil Nadu. I&B minister Manish Tewari too is reportedly not keen to take the field from his constituency Ludhiana, where the scene has become complicated with the entry of noted activist H S Phoolka on a AAP ticket. P 19 Record 75L voters enrol at spl camp The Election Commission’s special camp on March 9 drew some 75 lakh people to enroll as voters across the country. EC sources said this was the highest number of applications they had received in a single day. UP led the count, with 15.4 lakh enrolment requests, followed by Andhra with 11 lakh and Maharashtra with 6.88 lakh. Delhi had 1.5 lakh requests, beating states like Jharkhand and Haryana. P 7 & 13 ‘Money collected from Guj being used for one person’s marketing’ 
    We don’t take money from youtoshow you our advertisements. Money collected from Gujarat is being used for one person’s marketing across India. We use your money for your welfare,”Rahulsaid. 
    On Modi’s efforts to usurp Sardar Patel’s legacy, Rahul advised him to spend time reading about Sardar. “Building a statue of Sardar is fine but you need to know a little more about him before building it. Sardar Patel had said RSS philosophy was toxic for the country,” he said. Rahul claimed the BJP had originally even opposed naming the Ahmedabad airport after the freedom-fighter. 
    Rahul said as a seven-yearold,hedrankAmul milk in Delhi. “Now, it’s being projected as if it is alsosomeone’s personal achievement. The BJP would even take credit for RTI, MNREGA, andtheRighttoFood Act, if they were given the chance in thefuture,”hesaid. 
    “This person talks of eliminating the Congress but no one can wipe out the organization nurturedby Gandhiji and Sardar Patel. He talks of Gujarat model in thecountry buthere BPL criteria is only Rs 11 per day. In malnutrition, Gujarat model is shining,” Rahul said, adding, “despitecourtorders RTI commissioners have not been appointed and Lokayukta could be appointed only after a gap of 10 years and court’s interference.” 
    Seeking to draw a parallel between the BJP's India Shining Campaign in 2004 Lok Sabha polls and its focus on Gujarat’s development under Modi, Rahul said it is being publicized in the whole country that Gujarat shines but its glitter is limited to “10-15 industrialists” andthe poor have notbenefitedfrom it.

IN, OUT & ON THE FENCE

Actor-activist GUL PANAG likely to contest from Chandigarh on AAP ticket. Her dad, Lt Gen H S Panag is already an AAP member. Gul, a postgraduate from Punjab Univ, also runs an NGO

MODI-KEJRIWAL faceoff likely if the Gujarat CM contests outside the state. If Modi sticks to home turf, AAP chief likely to sit out polls, prepare for Delhi assembly re-election

Comedian RAJU SRIVASTAVA 
returned his SP ticket from Kanpur, alleging lack of support from the local unit, which has since been dissolved

Rahul said the BJP had initially opposed naming the Ahmedabad airport after freedom-fighter Sardar Patel

THE POWER OF ONE

Almost exactly a decade ago, the day after the 2004 Lok Sabha elections were announced, The Times of India launched its special ‘Dance of Democracy’ coverage, bringing readers a 360° ringside view of one of the great wonders of the modern world. In every election since, whether general or state, ‘Dance of Democracy’ has sought to empower, entertain and enlighten you with ground-level reportage, numbers-driven analyses, and agenda-setting thought pieces. We will do all that and more in the weeks to come, capturing the sights, smells and sounds of the mother-of-all political carnivals on earth, even as we help you separate choice from noise. 

    Ours is by far the largest democracy in the known universe, equal to the population of the next five democracies, including the US and Brazil. We have been called a flawed democracy, and indeed there are times when we find ourselves drowning in hopelessness and cynicism, when the only change we see is for the worse. But it is also the flaws that help us appreciate beauty when it shines through. And there is no greater beauty than to behold the will of the people being given voice without their having to resort to violence. “Ballot over bullet” has become a clichéd newspaper headline, but it’s one of those clichés we should never take for granted. Imagine the power of 815 million people exercising their constitutionally-given franchise in a largely disciplined and peaceable manner, voting in and out representatives and governments that they, in their collective wisdom, believe will or won’t serve their interests. There is a magic to it that people in totalitarian states can never grasp, and those in smaller democracies can only wonder at. How can a nation where so many cannot read or write, or get a decent meal a day, or have access to basic amenities like water and electricity show such dignity in the face of so much adversity? Much of the credit goes to our founding fathers, who set a path that their often-lessthan-illustrious successors have not been able to deviate from (except one, and she paid the price when she did call an election). 
    No one can dispute that the ‘system’ has imperfections. We know only too well how routinely and horribly our elected representatives let us down, through sloth, corruption and worse — forgetting that they are meant to be servants, not masters. But at least there is a check-and-balance in the form of elections. They give us a chance to hold our representatives accountable. The Times of India will try to help you make the best decision you can — not by telling you whom you should vote for, because that’s your call to make and nobody else’s, but by bringing you all the information and insight you need. The stakes are huge — for you, and for the nation. These elections could well shape the destiny of India, for better or for worse. (We can only hope it will be for the better.) The best thing about an election is that each of us has a voice — an equal music, if you will. An opportunity such as this comes to us but once in five years. Do you want to let it pass you by? Democracy, in its purest form, is about the power of one. Be the one.