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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
Friday, Jun 13
18:00 Manufacturing Sales (MoM) 1 -2.8% -2.0% -1.4%
19:30 Michigan Consumer Expectations Index 2 58.4 47.9
19:30 UoM 1-year Consumer Inflation Expectations 2 5.1% 6.6%
19:30 Michigan Consumer Sentiment Index 3 60.5 53.5 52.2
19:30 UoM 5-year Consumer Inflation Expectation 2 4.1% 4.2%
22:30 Baker Hughes US Oil Rig Count 1 442
Saturday, Jun 14
01:00 CFTC Gold NC Net Positions 1 $187.9K
01:00 CFTC Oil NC Net Positions 1 168K
01:00 CFTC GBP NC Net Positions 1 £35.2K
01:00 CFTC AUD NC Net Positions 1 $-63.2K
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