CHIDAMBARAM-MODI ROW HEATS UP

BJP today termed as "wrong and hasty" Finance Minister P Chidambaram's statement that Narendra Modi was giving lessons in economy and sought an apology from him. The controversy erupted when Chidambaram said Modi had quoted him wrongly as having claimed that buying gold leads to inflation. The Finance Minister issued a statement denying having said so and took a dig at Modi, saying he is giving "first lessons in economy". A leading newspaper today said it had incorrectly quoted Modi. He had not mentioned inflation and only said the country was facing an economic crisis. "In his hasty statement, unbecoming of a union minister, he (Chidambaram) betrays his party's incapacity and frustration to politically engage with Modi," BJP spokesperson Nirmala Sitharaman said in a statement. BJP demanded that Chidambaram issue an apology. "Through his hurried statement, typically worded with pompousness and put-on sarcasm, Chidambaram has only rushed to cover up his failures to manage the economy. The minister has failed to check what was actually said by Modi. Had he checked the speech, Chidambaram would have known that 'aarthik sankat' were the exact words used and not inflation," Sitharaman said. She took potshots at Chidambaram, saying while the Finance Minister was interested in delivering "lectures and lessons," Modi is busy providing good governance and development to people in Gujarat. "All 'economists' are already taking due 'note' of Modi's performance vis-a-vis the worsening current account deficit (CAD) for which he (Chidambaram) and his party are solely responsible," Sitharaman said.

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WORLD'S OLDEST WOMAN

Misao Okawa celebrates her 115th birthday in Osaka, western Japan on March 5, 2013. Okawa was formally recognized as the world's oldest woman.

SINGER MANNA DEY IS NO MORE

Legendary playback singer Manna Dey, who mesmerised generations of listeners with his inimitable voice for over five decades with hits like 'ay mere pyara watan', 'laaga chunri me daag' and 'poocho na kaise', died at a hospital here today at the age of 94 after prolonged illness. Dey, who was in and out of Narayana Hrudayalaya Hospital in the last five months for respiratory and renal problems, died of cardiac arrest with his daughter Shumita Deb and son-in-law Jnanranjan Deb by his bedside when the end came at 3.50 AM. The condition of Dey, who had made Bangalore his home for the last many years, deteriorated since yesterday afternoon, hospital spokesman Vasuki said. With the demise of Dey, the void has become complete in the famous quartet of singers Rafi, Mukesh, and Kishore Kumar, who dominated the Hindi music industry from 1950s to 1970s. The mortal remains of Dey, whose unique voice lent a rare dimension to his persona, were cremate...

WILL NIFTY FALL BELOW 2000?

Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...

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