Belgian Ambassador at Gurdwara Rakab Ganj sahib, New Delhi for meeting the Belgian Delegation and for the Ardaas of Laleman Tine, who expired in Leh on 27th August.
Sunday, August 30, 2009
Belgian Ambassador at Gurdwara Rakab Ganj sahib, New Delhi
Belgian Ambassador at Gurdwara Rakab Ganj sahib, New Delhi for meeting the Belgian Delegation and for the Ardaas of Laleman Tine, who expired in Leh on 27th August.
Laleman Tine, bachelor student of Theology and Religious Studies.
De sporen van je leven
Kan ik lezen
In zoveel dingen om ons heen.
Je bent gedroomd
Verwacht
Er echt geweest
Nu dragen wij je
In gedachten mee
Van hier naar daar
En over de tijd heen.
Je was er ooit.
Je bent er nog steeds.
Dag kind
Uit ons leven
Vaak ver weg
Vaak dichtbij
Wij spreken nog je naam
Wij dromen nog je dromen
Wie het niet kan horen
Tonen we zoveel dingen
Rondom ons
Jouw sporen zie je goed.
Dag kind
Zo spreekt de Heer.
Al gaat het nog zo diep,
dit lijden zal ik keren.
Ik hoorde toen je roep.
Vrees niet.
Ik maak je vrij.
Ik zal je niet beschamen, mijn kind, je bent bij Mij.
Ik riep je toch bij je naam.
The traces of your life
Can I read
In so many things around us.
You're dreaming
Expected
There really was
Now we carry you
Them in mind
From here to there
And over time.
You were there once.
You're still there.
Child Day
From our life
Often far away
Often close
We still speak your name
We still dream your dreams
Who can not hear
We show so much
Around Us
Your tracks see you well.
Child Day
Thus says the Lord.
Everything is still so deep,
I will turn this suffering.
I heard when you call.
Fear not.
I make Fri
I will not disappoint you, my child, you're with me.
I called you by name anyway.
Source : http://theo.kuleuven.be/page/indiablog/
SikhsIndia
Kan ik lezen
In zoveel dingen om ons heen.
Je bent gedroomd
Verwacht
Er echt geweest
Nu dragen wij je
In gedachten mee
Van hier naar daar
En over de tijd heen.
Je was er ooit.
Je bent er nog steeds.
Dag kind
Uit ons leven
Vaak ver weg
Vaak dichtbij
Wij spreken nog je naam
Wij dromen nog je dromen
Wie het niet kan horen
Tonen we zoveel dingen
Rondom ons
Jouw sporen zie je goed.
Dag kind
Zo spreekt de Heer.
Al gaat het nog zo diep,
dit lijden zal ik keren.
Ik hoorde toen je roep.
Vrees niet.
Ik maak je vrij.
Ik zal je niet beschamen, mijn kind, je bent bij Mij.
Ik riep je toch bij je naam.
The traces of your life
Can I read
In so many things around us.
You're dreaming
Expected
There really was
Now we carry you
Them in mind
From here to there
And over time.
You were there once.
You're still there.
Child Day
From our life
Often far away
Often close
We still speak your name
We still dream your dreams
Who can not hear
We show so much
Around Us
Your tracks see you well.
Child Day
Thus says the Lord.
Everything is still so deep,
I will turn this suffering.
I heard when you call.
Fear not.
I make Fri
I will not disappoint you, my child, you're with me.
I called you by name anyway.
Source : http://theo.kuleuven.be/page/indiablog/
SikhsIndia
Saturday, August 29, 2009
Life-sentence for 3 in anti-Sikh riot case
Life-sentence for 3 in anti-Sikh riot case
NEW DELHI, August 29, 2009
A trial court here on Saturday sentenced three to life imprisonment, holding them guilty of making attempts to murder three members of a Sikh family during the anti-Sikh riots at Shastri Nagar in North Delhi in 1984.
Riots had broken out in the Capital in the wake of the assassination of the then Prime Minister Indira Gandhi.
Additional Sessions Judge Surinder Singh Rathi awarded life imprisonment to the three, Mangal Sen alias Billa, Brij Mohan Verma and Bhagat Singh, holding them guilty of offences of attempt to murder, rioting and dacoity.
The court had held them guilty on August 22.
While sentencing the three accused, the Judge passed severe strictures against the Delhi police and the State machinery for their role during the riots in the Capital. “Even though we boast of being the world’s largest democracy and Delhi being its national capital, the sheer mention of the incidents of the 1984 anti-Sikh riots in general and the role played by the Delhi police and State machinery in particular makes our heads hang in shame in the eyes of the world polity,’’ the Judge observed.
“It is evident that our society is becoming more and more intolerant towards one another, and this dangerous trend is acquiring dangerous proportions,’’ the Judge further stated.
The Judge expressed particular uneasiness over the fact that the convicts who had looted the victims and burnt their house were not strangers to them (victims) but were their next door neighbours.
In the instant case, Joginder Singh and his two sons, Jagmohan Singh and Gurvinder Singh were seriously injured while their house was burnt down by a mob, led by the three accused on November 1, 1984.
with thanks : source : http://beta.thehindu.com/news/cities/Delhi/article11404.ece
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
NEW DELHI, August 29, 2009
A trial court here on Saturday sentenced three to life imprisonment, holding them guilty of making attempts to murder three members of a Sikh family during the anti-Sikh riots at Shastri Nagar in North Delhi in 1984.
Riots had broken out in the Capital in the wake of the assassination of the then Prime Minister Indira Gandhi.
Additional Sessions Judge Surinder Singh Rathi awarded life imprisonment to the three, Mangal Sen alias Billa, Brij Mohan Verma and Bhagat Singh, holding them guilty of offences of attempt to murder, rioting and dacoity.
The court had held them guilty on August 22.
While sentencing the three accused, the Judge passed severe strictures against the Delhi police and the State machinery for their role during the riots in the Capital. “Even though we boast of being the world’s largest democracy and Delhi being its national capital, the sheer mention of the incidents of the 1984 anti-Sikh riots in general and the role played by the Delhi police and State machinery in particular makes our heads hang in shame in the eyes of the world polity,’’ the Judge observed.
“It is evident that our society is becoming more and more intolerant towards one another, and this dangerous trend is acquiring dangerous proportions,’’ the Judge further stated.
The Judge expressed particular uneasiness over the fact that the convicts who had looted the victims and burnt their house were not strangers to them (victims) but were their next door neighbours.
In the instant case, Joginder Singh and his two sons, Jagmohan Singh and Gurvinder Singh were seriously injured while their house was burnt down by a mob, led by the three accused on November 1, 1984.
with thanks : source : http://beta.thehindu.com/news/cities/Delhi/article11404.ece
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
Governing body formed for University at Nankana Sahib
Governing body formed for University at Nankana Sahib
Published on Friday, August 28, 2009 by Azaad
Nankana Sahib, Pakistan: Efforts of Sikhs from all over the world have yielded a positive outcome with decks being cleared for the establishment of proposed world-class Baba Guru Nanak International University at Nankana Sahib in Pakistan. The government of that country has formed a governing body for the supervision and management of the project.
The university is being set up at the birth place of Guru Nanak Dev to perpetuate his memory and impart education about Sikhism, Sikh rituals and Sikh culture not only to Pakistan-based Sikh students, but also to Sikh students from rest of the world. The project is likely to be inaugurated in November, said USA-based Dr Pritpal Singh, who has been made a member of the governing board.
The demand for the university had gained momentum in 2006-07 when a number of Sikh leaders from across the world met then Pakistan Prime Minister Shaukat Aziz and prevailed upon him to initiate the project. SGPC chief Avtar Singh is said to have pleaded for setting up the university at that time.
Though the Evacuee Trust Property Board of Pakistan has nominated the president of the Pakistan Sikh Gurdwara Parbandhak Committee (PSGPC) as member of the government body, the name of Avtar Singh has not found its way into the list.
The orders issued by the board project director, Col Azhar Ul Haq Adeeb (retd), on August 26 said the chairman of the Evacuee Trust would also be the chairman of the governing committee. Other members of the governing board included Mian Imran Masood (executive director), Zafer Saeed Padhiar, a member of Pakistan’s National Assembly, Rai Shah Jehan Bhatti, president of the PSGPC, Dr Pritpal Singh from California, US, Manmohan Singh Khalsa from the UK, Azhar Ehsaan Advocate, Faqir Syed Saif Uddin, Sardar Sham Singh, Sardar Bishan Singh, and Sardar Mastaan Singh.
“The university is being set up on 2,500 acres being provided by the Pakistan government at Nankana Sahib. The Gurmat Sangeet faculty is being set up at the proposed university and its entire expences will be borne by the American Gurdwara Parbandhak Committee. The university will be set up on the lines of Oxford or Cambridge universities,” said Dr Pritpal Singh, President of the AGPC.
With thanks : source : http://sikhsangat.org/2009/08/governing-body-for-gnd-nankanasahib/
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
World Sikh foundation to open a Sikh university in Himachal
World Sikh foundation to open a Sikh university in Himachal
Aug 28th, 2009 | By Shalender Kalra
Nahan: World Sikh foundation has decided to open a Sikh university of international standards at Paonta sahib in Himachal. For the purpose the foundation have constituted a committee for identifying the land. Interacting with media persons at Paonta sahib today the chairman of the foundation Prof Jaswant Singh Mann said that GURU GOVIND SINGH JI had spent four and half years at Paonta sahib during the time he tried the expansion of education at this town. He also informed the media persons that around 500 corers would be spent on the opening of the university in different levels. Chairman of the foundation also said that the informal dialogue was already being done with the chief Minister Prof prem Kumar Dhumal on the project. He added that the similar university would also be opened in Srinagar of Jand K.
Prof Mann said that the land was already identified in Srinagar. He said that before July 2010 the first phase of the Sikh university would be completed. He also urged the local people to support the project in the welfare of the society. He also announced the members of the committee for identifying the land.
with thanks : source : http://nvonews.com/2009/08/28/world-sikh-foundation-to-open-a-sikh-university-in-himachal/
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
Aug 28th, 2009 | By Shalender Kalra
Nahan: World Sikh foundation has decided to open a Sikh university of international standards at Paonta sahib in Himachal. For the purpose the foundation have constituted a committee for identifying the land. Interacting with media persons at Paonta sahib today the chairman of the foundation Prof Jaswant Singh Mann said that GURU GOVIND SINGH JI had spent four and half years at Paonta sahib during the time he tried the expansion of education at this town. He also informed the media persons that around 500 corers would be spent on the opening of the university in different levels. Chairman of the foundation also said that the informal dialogue was already being done with the chief Minister Prof prem Kumar Dhumal on the project. He added that the similar university would also be opened in Srinagar of Jand K.
Prof Mann said that the land was already identified in Srinagar. He said that before July 2010 the first phase of the Sikh university would be completed. He also urged the local people to support the project in the welfare of the society. He also announced the members of the committee for identifying the land.
with thanks : source : http://nvonews.com/2009/08/28/world-sikh-foundation-to-open-a-sikh-university-in-himachal/
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
Friday, August 28, 2009
Let turban wearing Sikhs join US military: Lawmakers
Let turban wearing Sikhs join US military: Lawmakers
IANS 28 August 2009, 01:08pm IST
NEW YORK: Forty-one members of the US House of Representatives have written to defense secretary Robert Gates to permit Sikhs wearing their
religious symbols to join the military.
Sikh organisations have been lobbying with US lawmakers after the refusal by the army to let two Sikhs with turbans join active duty a few months ago.
Captain Kamaljit Singh Kalsi, a doctor, and Second Lieutenant Tejdeep Singh Rattan, a dentist, were told to remove their turbans by the military when they were about to enter active duty after completing their preliminary programme.
In their letter to Gates, the lawmakers say: "We do not believe that any American should have to choose between his religion and service to our country, and urge you to take all necessary steps to ensure that these two officers - and other Sikhs that may wish to serve - are able to maintain their articles of faith.
"Including Sikh Americans will enrich the military's understanding of diverse cultures, languages, and religions, thereby allowing us to fully appreciate not only the rich fabric of our own country but also the lands where we send our soldiers into harm's way."
Citing the example of Canada, Sweden and other countries where Sikhs are allowed to wear their symbols in the armed forces, Sikh organisations led by Sikh Coalition have urged Secretary Gates to end this discrimination by the US army.
The coalition said they will continue their 'Sikh right to serve' campaign till the US military changes its "exclusionary policy" against Sikhs.
with thanks : source : http://timesofindia.indiatimes.com/NEWS/World/US/Let-turban-wearing-Sikhs-join-US-military-Lawmakers/articleshow/4944410.cms
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
IANS 28 August 2009, 01:08pm IST
NEW YORK: Forty-one members of the US House of Representatives have written to defense secretary Robert Gates to permit Sikhs wearing their
religious symbols to join the military.
Sikh organisations have been lobbying with US lawmakers after the refusal by the army to let two Sikhs with turbans join active duty a few months ago.
Captain Kamaljit Singh Kalsi, a doctor, and Second Lieutenant Tejdeep Singh Rattan, a dentist, were told to remove their turbans by the military when they were about to enter active duty after completing their preliminary programme.
In their letter to Gates, the lawmakers say: "We do not believe that any American should have to choose between his religion and service to our country, and urge you to take all necessary steps to ensure that these two officers - and other Sikhs that may wish to serve - are able to maintain their articles of faith.
"Including Sikh Americans will enrich the military's understanding of diverse cultures, languages, and religions, thereby allowing us to fully appreciate not only the rich fabric of our own country but also the lands where we send our soldiers into harm's way."
Citing the example of Canada, Sweden and other countries where Sikhs are allowed to wear their symbols in the armed forces, Sikh organisations led by Sikh Coalition have urged Secretary Gates to end this discrimination by the US army.
The coalition said they will continue their 'Sikh right to serve' campaign till the US military changes its "exclusionary policy" against Sikhs.
with thanks : source : http://timesofindia.indiatimes.com/NEWS/World/US/Let-turban-wearing-Sikhs-join-US-military-Lawmakers/articleshow/4944410.cms
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
Sad demise - a girl student from Belgium expired
We are very sorry to inform you that Laleman Tine, bachelor student of Theology and Religious Studies of the Delegation from the Interdisciplinary Centre for the Study of Religion & Worldview, K.U.Leuven, Belgium, Expired in Leh on 27th August.
The delegation was in Gurdwara Rakab ganj sahib for 3 days, earlier in this month for studying Sikhism. The delegation will be in Delhi on Sunday, on the last day of the trip as they have to catch the late night flight. For more details please contact Dr.Gurdeep kaur - Cell number 9811317078
SikhsIndia
Thursday, August 27, 2009
His beard is taller than you
His beard is taller than you
August 26, 2009 04:38:00 PM
By Ashley Gebb/Appeal-Democrat
At 7 feet, 8-plus inches, Sarwan Singh's beard is quite a sight to behold.
But any emotions the Sikh man holds about the hairs flowing from his face are of gratitude and respect rather than pride. Singh credits God for blessing him with such lengthy wisps, and in accordance with his religion, has not disfigured his body by cutting them.
"God has given a beard to everybody, but he has given him a special gift," said Yuba city resident Sukhcharan Singh.
Sarwan Singh, 43, lives in Surrey, Canada, but has spent the last three weeks at the Gurdwara Sahib on South George Washington Boulevard in Yuba City. Sukhcharan Singh is videotaping the religion and music teacher while he reads the holy scriptures of the Guru Granth Sahib aloud in Punjabi.
The tapes will create a recording for other Sikhs who may not have access or time to practice themselves. To read the Guru Granth Sahib in its entirety would take 80 hours, so the men have broken it down into 2 1/2 hour chunks.
Twice daily, Sarwan Singh prepares for the recording session with a cup of tea to warm his vocal cords, taking care to keep his beard clean while doing so.
It was not until about 10 years ago, when he moved from India to Canada, that Singh realized a knee-length beard was a bit of an oddity. His friends finally urged him to contact Guinness World Records.
The record-keepers measured Singh's strands at 7 feet, 8 inches in November. The previous record was held by Shamsher Singh of Punjab, India, whose beard measured 6 feet long in 1997. The men do not know one another.
Sarwan Singh's recorded length is from chin to tip, but his longest hair sprouts from just above the throat. The beard has since grown a few more inches.
"He might beat his own record!" Sukhcharan Singh said with a laugh.
Previous record-holders, before Guinness changed its standards, boasted beard lengths in the double digits, but bottom hairs were not actually attached and instead clung to matted knots.
A bright white smile peeks out amid Singh's bushy black, silver and gray strands that start around his jaw. The number of hairs gradually dwindle as they near his feet, tapering off at less than 10 wisps for the bottom few inches.
He estimates he spends about half an hour a day shampooing, conditioning and supplementing the hair with natural oils to keep it silky smooth. Speaking through Sukhcharan Singh as translator, he said he occasionally brushes the beard to keep it free from tangling.
Despite all the care and maintenance they demand, Sarwan Singh treats his hairs with patience.
As he talks, reads or simply stands, he gently fingers the tips of silver, gray and black wisps or drapes them over his hands. When a clean surface is available, Singh allows the strands to coil onto the floor; otherwise he wraps the beard into a loose knot below his chin.
The hair on his head, hidden by the traditional Sikh wrap, grows at a normal rate and length, he said.
Singh urges Sikh children to take pride in their religion and be proud to grow their hair. If he can take care of an almost-8-foot-long beard, they can respect God and their bodies, he said.
The beard is somewhat of a fascination among children.
During Singh's first days in Yuba City, Sikh youngsters were clambering around him, eager for photo opportunities. He stood atop an upturned milk crate so his beard could flow nearly all the way to the ground, although never touching the actual floor or dirt.
Every aspect of living with his world-record beard is in honor of and respectful of his religion and his creator, Singh said.
"We have to live this way, with whatever he has given us," he said.
Contact Appeal-Democrat reporter Ashley Gebb at 749-4724 or agebb@appealdemocrat.com
with thanks : source : http://www.appeal-democrat.com/news/singh-85917-beard-sarwan.html
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A sikh blog
Dera, Sikh followers clash averted
Dera, Sikh followers clash averted
TNN 26 August 2009, 10:56pm IST
LUDHIANA: A serious clash was averted between dera followers and members of the Sikh community, when the latter objected to the organization of an
‘Akhand Paath’ near the Model Town Extension, on Tuesday night.
Following information that followers of Dera Satkartar Das were allegedly organizing a paath, a large number of people from the Sikh community gathered outside the dera and shouted slogans.
Panicked by the situation, dera followers pelted stones at the gathered crowd. Before the situation could worsen, the police was immediately summoned which reached the spot in no time.
Both parties were pacified and they finally reached a compromise at the Model Town police station. In the meantime, sewadar of the dera, Jaswinder Singh, said the Akhand Paath had been organized to celebrate the birthday of Baba Shri Chand Jee. “I had brought the religious scriptures from the gurdwara and had sought permission from the Akal Takht to do so,” he added.
Meanwhile, some people received minor injuries in the incident.
with thanks : source : http://timesofindia.indiatimes.com/news/city/ludhiana/Dera-Sikh-followers-clash-averted/articleshow/4938262.cms
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A Sikh blog
TNN 26 August 2009, 10:56pm IST
LUDHIANA: A serious clash was averted between dera followers and members of the Sikh community, when the latter objected to the organization of an
‘Akhand Paath’ near the Model Town Extension, on Tuesday night.
Following information that followers of Dera Satkartar Das were allegedly organizing a paath, a large number of people from the Sikh community gathered outside the dera and shouted slogans.
Panicked by the situation, dera followers pelted stones at the gathered crowd. Before the situation could worsen, the police was immediately summoned which reached the spot in no time.
Both parties were pacified and they finally reached a compromise at the Model Town police station. In the meantime, sewadar of the dera, Jaswinder Singh, said the Akhand Paath had been organized to celebrate the birthday of Baba Shri Chand Jee. “I had brought the religious scriptures from the gurdwara and had sought permission from the Akal Takht to do so,” he added.
Meanwhile, some people received minor injuries in the incident.
with thanks : source : http://timesofindia.indiatimes.com/news/city/ludhiana/Dera-Sikh-followers-clash-averted/articleshow/4938262.cms
SikhsIndia
www.sohnijodi.com - A sikh web portal
www.sikhsindia.blogspot.com - A Sikh blog
Wednesday, August 26, 2009
Ocean of pearls
The trailer begins with the wording, "THE GURU IS THE OCEAN FILLED WITH PEARLS". But a scene in the trailer, where a sikh guy is shown cutting his own hairs is horrible. Sorry, i could not view it as it hurted me a lot.
SikhsIndia
www.sohnijodi.com
www.sikhsindia.blogspot.com
Punjab bleeding itself to stay afloat
Punjab bleeding itself to stay afloat
Published on Tuesday, August 25, 2009 by Azaad
Punjab: Deprived of cash flow and faced with a huge subsidy bill, the cash-strapped Punjab government has virtually been selling off over Rs 400 crore of its government securities each month this year, in order to stay afloat.
Since January 2009, the Punjab government has raised Rs 3,458 crore by getting its state development loans (SDL) auctioned through the Reserve Bank of India (RBI). This is not all; Punjab plans to raise Rs 5,000 crore through selling its SDL during this financial year.
In this fiscal alone (since April 2009) Punjab has auctioned its state development loans worth Rs 1,743 crore. With the state government facing additional liability on account of the implementation of recommendations of the Fifth Pay Commission from this month onwards, the state will be raising Rs 500 crore through yet another auction of its SDL by the RBI on August 25.
In spite of the limited resources to raise money, Punjab has a huge annual subsidy bill of Rs 4,500 crore. With the power subsidy bill going up to an astounding Rs 3,142 crore (up from Rs 2,602 crore last year), and no signs of an increase in its revenue, the state is relying heavily on these SDLs to raise money.
Other than the power subsidy, the state government also subsidises the Local Bodies Department for octroi, sewerage and house tax, besides subsidising its populist ‘atta-dal’ scheme. While the government spending is on the rise, revenue growth is barely over 5 per cent for this year.
Talking to The Tribune, Punjab Finance Minister, Manpreet Badal, agreed that the huge subsidy bill of the state was responsible for such heavy borrowings. “Though we are within our prescribed borrowing limit of 3.5 per cent of the gross state domestic product (GSDP), the fact is that we will need more money this year as the power subsidy bill.” It is estimated that the power bill will increase by Rs 542 crore this year on account of increase in per unit cost of power by about 40 paisa.
Official sources in the RBI said that these state development loans are auctioned by various state governments to raise money for their development activities. Generally, banks bid for these loans as they are supposed to invest a certain prescribed percentage of their funds in government securities. Since this investment in government stocks is reckoned as an eligible investment in government securities by banks for the purpose of Statutory Liquidity Ratio (SLR), banks participate in these auctions. These stocks also qualify for ready forward facility.
with thanks : source : http://sikhsangat.org/2009/08/punjab-bleeding-itself-to-stay-afloat/
SikhsIndia
www.sohnijodi.com
www.sikhsindia.blogspot.com
Published on Tuesday, August 25, 2009 by Azaad
Punjab: Deprived of cash flow and faced with a huge subsidy bill, the cash-strapped Punjab government has virtually been selling off over Rs 400 crore of its government securities each month this year, in order to stay afloat.
Since January 2009, the Punjab government has raised Rs 3,458 crore by getting its state development loans (SDL) auctioned through the Reserve Bank of India (RBI). This is not all; Punjab plans to raise Rs 5,000 crore through selling its SDL during this financial year.
In this fiscal alone (since April 2009) Punjab has auctioned its state development loans worth Rs 1,743 crore. With the state government facing additional liability on account of the implementation of recommendations of the Fifth Pay Commission from this month onwards, the state will be raising Rs 500 crore through yet another auction of its SDL by the RBI on August 25.
In spite of the limited resources to raise money, Punjab has a huge annual subsidy bill of Rs 4,500 crore. With the power subsidy bill going up to an astounding Rs 3,142 crore (up from Rs 2,602 crore last year), and no signs of an increase in its revenue, the state is relying heavily on these SDLs to raise money.
Other than the power subsidy, the state government also subsidises the Local Bodies Department for octroi, sewerage and house tax, besides subsidising its populist ‘atta-dal’ scheme. While the government spending is on the rise, revenue growth is barely over 5 per cent for this year.
Talking to The Tribune, Punjab Finance Minister, Manpreet Badal, agreed that the huge subsidy bill of the state was responsible for such heavy borrowings. “Though we are within our prescribed borrowing limit of 3.5 per cent of the gross state domestic product (GSDP), the fact is that we will need more money this year as the power subsidy bill.” It is estimated that the power bill will increase by Rs 542 crore this year on account of increase in per unit cost of power by about 40 paisa.
Official sources in the RBI said that these state development loans are auctioned by various state governments to raise money for their development activities. Generally, banks bid for these loans as they are supposed to invest a certain prescribed percentage of their funds in government securities. Since this investment in government stocks is reckoned as an eligible investment in government securities by banks for the purpose of Statutory Liquidity Ratio (SLR), banks participate in these auctions. These stocks also qualify for ready forward facility.
with thanks : source : http://sikhsangat.org/2009/08/punjab-bleeding-itself-to-stay-afloat/
SikhsIndia
www.sohnijodi.com
www.sikhsindia.blogspot.com
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