Manmohan asks India Inc to moderate salaries
New Delhi: Prime Minister, Dr Manmohan Singh, has cautioned India Inc on the high levels of remuneration existing in senior managerial ranks. Speaking at the inaugural address at the National Conference and Annual Session of the Confederation of Indian Industry here, Dr Singh said that in a country with extreme poverty, industry should be moderate in the emolument levels it adopts.

He said, "Rising income and wealth inequalities, if not matched by a corresponding rise in incomes across the nation, can lead to social unrest." the Prime Minister said.

Dr Singh also asked industry to desist from non-competitive behaviour such as operating cartels to keep prices high. "It is unacceptable to obstruct the forces of competition from having freer play. It is even more distressing in a country where the poor are severely affected by rising commodity prices," he said.

Maximisation of profits should be within the bounds of decency and greed, he added.

These suggestions were part of a 10-point social charter that the Prime Minister outlined while inviting the Indian industry to partner the Government for creating a humane and just society.

The charter includes a call for the healthy respect for workers and investment in their welfare, corporate social responsibility, employment for the less privileged and investment in people and in their skills.
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Mamata walks out of Nandigram talks
Kolkata: The all-party talks for restoration of peace in Nandigram have failed as Trinamool Congress head Mamata Banerjee walked out if the meeting saying that CPI(M) did not accept the killing of 14 people in the area on March 14 as "genocide" and was trying to force the group to accept a pre-drafted order.

CPI (M) leader Subhas Chakraborty earlier said the incident in Nandigram was the fallout of the troubled law and order in the area in which three police jeeps were set on fire in a few days, and the firing was the result of police effort to restore normalcy in the area.

Banerjee, however, wanted punishment for those involved in the killings on March 14. She left the meeting with seven of her group members, which represented all parties except the Jamait and BJP.
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CFA Institute files petition in HC; to pay $300 for taking exams abroad
Mumbai: The Chartered Financial Analyst (CFA) institute has filed a petition in the Delhi High Court seeking a stay on the notice sent to it from the All India Council for Technical Education (AICTE) to wind up its operations in India. The Institute has also decided to give $300 (Rs12,300) to each of its 7,000 students to write the June 3 examinations outside India.

These locations are Kathmandu, Dhaka, Colombo, Singapore, Thailand, Hong Kong and the United Arab Emirates.

However, students will still have to bear the expenses of boarding and lodging and obtaining a visa.

Students who clear the CFA examinations are mostly employed as financial analysts by investment banks and broking houses. This year, more students from India will write the examinations than from either the UK or Canada.

On a complaint filed by the Hyderabad-based Institute of Chartered Financial Analysts of India, the AICTE had asked the CFA institute to stop its operations in India, as it had not taken the council's clearance.
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