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Saturday, October 3, 2009

Congress had no desire to pursue Bofors case: CPI

The government's move to end investigations into the Bofors case has "exposed" Congress dispensation's will to fight corruption, CPI said today.

"The last decade and a half has shown that the Congress had no desire to go ahead with the Bofors case, when it came too uncomfortably close to higher-ups within it," a resolution adopted at the CPI National Executive meeting said.

Deliberating on the meeting's proceedings, CPI general secretary A B Bardhan said they felt that the government "dragged its feet, intervened frequently and brazenly in the entire process, did everything to weaken the case so that it cannot stand the scrutiny of the courts in India and abroad".

"It has now shamelessly decided to drop it altogether. This exposes Congress government's will to fight corruption," he added.

The government has recently informed the Supreme Court that it has decided to withdraw case against Italian Businessmen Ottavio Quattrocchi.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
19:30 Business Inventories 1 0% 0% 0%
20:00 EIA Natural Gas Storage Change 1 46B 44B 53B
21:00 4-Week Bill Auction 1 4.230% 4.235%
22:15 Fed's Daly speech 2
23:00 Fed's Cook speech 2
Friday, Jul 18
01:30 Total Net TIC Flows 1 $-14.2B
01:30 Net Long-Term TIC Flows 1 $-7.8B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 2.2%
18:00 Housing Starts (MoM) 2 1.300M 1.256M
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