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Saturday, June 30, 2012

Bull Shit Marxist Ideology!The Marxists Committed Criminal Betrayal once again Supporting Pranab, the Son of the World and the Field Marshal of the Ruling Global Hindutva Hegemony while Mamata Banerjee Dared to Register Revolt against the Market Forc


Bull Shit Marxist Ideology!The Marxists Committed Criminal Betrayal once again Supporting Pranab, the Son of the World and the Field Marshal of the Ruling Global Hindutva Hegemony while Mamata Banerjee Dared to Register Revolt against the Market Forces!

Troubled Galaxy Destroyed Dreams, Chapter-784

Palash Biswas

http://palashbiswaslive.blogspot.in/ 

Bull Shit Marxist Ideology!The Marxists Committed Criminal Betrayal once again Supporting Pranab, the Son of the World and the Field Marshal of the Ruling Global Hindutva Hegemony while Mamata Banerjee Dared to Register Revolt against the Market Forces!

I did not want to write these lines at all. I opted to be diplomatic considering the role of the to be President of India determining Destiny of indian People as I had to be strategic in defence of the Excommunicated, Excluded, Untouchable Communities and Aborigine Humanscape all over the Geopolitics across the Political borders bleeding and divided.

But Economy taken over by the set of Extraconstitutional Genocide Masters, the Coolest ever rothschild Rockfeller Children, Ethnic Cleansing Nuclear Buttons pushed on, Missilic Reforms launched with ruthless cruelty, Civic and Human Rights violated at will and Citizenship deprived with Biometric Identity drive branding the People`s resistance Maoist Antinational, we have no chance to defend at all, Suicide is the ultimate Option of the Rural world!

Corporate Dictation expressed with maximum magnitude with deling liability of Union Carbide. The Marxist Hypocrite Ideological Gimmicks deprived the people of India the last chances of whatsoever resistance.

GST implemented and DTC in pipeline, GAAR Finished, Black Money recycle intensified, Production system Killed, Constitution murdered, Parliament Paralysed and the great Indian Brahaminical Mraxists branded with Historical blunders betrayed the People of India supporting the Enemy of the People, most responsible for the miserable conditions of the Ninety Nine Percent population of India who headed all most all Parliamentary Committees and Empowerd Groups of Ministers!

Eighteen innocent tribal Villagers, children and women butchered in Chhattisgargh and the Killers rule in India while people like Seema Azad and Binayak Sen are branded Maoists!

Mamata may not be Politically Pragmatic. May be  that she is playing political game, but it is fact that she led from the front to oppose Pranab Mukherjee while the Sangh Parivar was eager to support it`s Blue eyed boy and in fact NDA partners JDU and Shivsena did support Pranab.

The Marxists did support Pranab and did not stand with BJP and Sangh Pariwar, but they have to vote with Shiv Sena, again the front runners amongst the flag bearers of Hindutva.

The Anti Communalism Combat Principle of Bihar CM is open to question as Nitish Kumar has soft heart for the slain Genocide Master, the Bhumihar Mukhia Braham Deo  and his Ranveer Sena.

Hence, I decide to clarify my stance here. What Mamata says, Pranab does not deserve to be the President of India, not even for the sake of Bengali Nationalism. Friends!The Situation is very grim and we have to respond. We  may not sit idle like ducks. No deser may accommodate us to hide our heads to see the storm over. This is right now or Never again!

We know, PA sangma does not represent the Tribal People as he belongs to the elite hegemony and happens to be blood brother of Pranab.What if Sangma revolted against Sonia for her foreign origin, so did Pranab also while he tried all his might to topple Rajiv Gandhi, failed and surrendered to become the Enslaved Executive of Genocide Culture with Surgical Precision. Sangma also do not represent North East.He Never did voice against Criminal Violation of Fifth and Sixth Schedule of the Constitution countrywide, never did oppose AFSPA, the Draconian Rule continued since 1958 in Kashmir and North East. He never did support IROM sharmila on Hunger Strike for Eleven years. But Mamata`s resistance and revolt made sangma the candidate who ensured that Pranab should not be elected Unopposed and it Exposed Sangh Pariwar as well as the Hypocrite Marxists.

At least RSP and CPI justified their left identity deciding to abstain.

Mind you, I never had been blind supporter of Mamata Banerjee . neither I chose to be on her pay roll. But the fact remains that it is just for her courage that Indiscriminate land Acquisition stumbled on Block. She led Singur, Nandigram and Lalgragh resistance. Market forces rallied behind her to dislodge the Marxists who ran so blind on the highway of Capitalist development and disabled Trade Union Movement to allow walk Over for the LPG Mafia , MNCs and Corporate Imperialism.

Mamata opted for a Marxist resistance, ironically opposing Marxism and the Marxist just Killed their ideology to deprive Indian people of whatsoever Resistance. It is only for the Brahaminical Marxist Betrayal that aborigin Humanscape has to opt for either Naxal or Maoist line to address the racial discrimination in  resistance against the Economic Ethnic Cleansing.

Mamata is seized within by power mongers but she is more honest, more determined than our Marxist Friends and the forces claiming to lead anti Communalism Combat. Sachhar Committeee report exposed the Marxists how they misused the Muslim Vote Bank in Bengal. Marichjhanpi case is enough to prove Marxist apathy against the untouchable refugees.

I did say long before that Mamata only needs good advisers and some better friends and she has the potential to lead the people of India. I am afraid to say that we have no other Option!

A new service tax regime, based on a negative list of exempted services, will come into effect on Sunday. Get ready to pay even more. The new 12 per cent additional Service Tax comes into effect from Sunday. The new tax covers all services except 38 activities that are put on the negative list.The switch-over to a negative list is aimed at unifying the tax and levies of the Centre and the States, but is also expected to increase the Centre's Service Tax collection up from Rs 97,000 crore last fiscal to Rs 1.24 lakh crore in 2012-13.Among other things, you will now pay more for speed posts, express parcels as well as train travel by First Class and Air-Conditioned Class.Tickets for travel and holidays bought from online portals too will get costlier.Tests such as GMAT and GRE too will be costlier as companies conducting these examinations will now be subject to Service Tax.Private tuition providers too will be subject to the tax if their annual turnover exceeds Rs 10 lakh.Ironically, on the other hand,On the other hand,The Reserve Bank of India (RBI), on Friday, said that Current Account Deficit (CAD) rose to $78.2 billion (4.2 per cent of gross domestic product (GDP)) in 2011-12 from $ 46 billion (2.7 per cent of GDP) in 2010-11, "largely reflecting higher trade deficit on account of subdued external demand and relatively inelastic imports of POL and gold and silver".It is clear, despite monetary exercise, the Exclusive Economy Bottomless lacks the Fiscal Policies to address the deficits in the Fundamentals while the Taxation is Overloaded against the Excluded Ninety Nine Percent and the One percent Elite has to enjoy all the tax heavens,bailouts, stimulus!

With Manmohan, Montek and C Rangrajan having the helms of Economic affair once again, the Second Phase of reform relaunched boom boom! Second Green revolution to follow up with all sets of financial legislations, simple GOs, Illegal Corporate projects like Unique Identity Adhaar card Yojana and Presidential decrees!Is it the most Opportune time that the Marxists chose to support Pranab Mukherjee just to get back favourable equation in West Bengal to get back Power! What about the dream of Revolution, comrades?What about the Protest against the Indo US nuclear deal which is in fact Operationalised while Pranab`s Presidential candidature was being announced in New Delhi and MONTEK and SIBAL were camping in Washington! What about Union carbide Victims, Comrades?

RBI hiked FII limit in government bonds to USD 20 billion while allowing up to USD 10 billion via overseas borrowings route by domestic corporates for refinancing their rupee loans. The steps are expected to curb rupee's fall, which has lost over 26 per cent in last one year.

But, SENSEX has gained nearly 550 points in the last four days coinciding with Prime Minister Manmohan Singh taking over charge of Finance portfolio and signalling speedy revival of the slowing economic growth. Market players cheered Finance Ministry's proposal that the controversial General Anti-Tax Avoidance Rules (GAAR) would not be applicable below a particular limit. India is likely to see acceleration in economic reforms over the next quarter, and it is the right time to invest in the country as valuations have become reasonable, CII President Adi Godrej has said. Bravo!

It is quite interesting that Former President A P J Abdul Kalam has expressed surprise that Congress did not stake claim to form the government for three days after its stunning victory over NDA in the 2004 elections. Kalam`s exposure tells us the story of Power Politics in India where UPA and NDA are in fact aligned to sustain the Corporate rule and both dictated by Corporate Imperialism and bound by Nuclear alliance led by US and Israel which made India prime partner in America`s war against Terror to open up the Emerging Markets. We are Captured. And the Captured People have no Choice. We have to be plundered and the Earth is destined to be gangraped. The prime targets are Nature and Nature associated Communities!

Hours before the CPI-M Politburo 's meeting in New Delhi to take a call on the Presidential elections and the meeting of the central leadership of the four Left parties on the same issue, veteran Leftist and Mr Ashok Mitra,lambasted the candidature of union finance minister Mr Pranab Mukherjee as the country's next President.  It is fortunate that CPIM is in no Position  to expel or Punish Dr Ashok Mitra . But it did punish the rebel view, nevertheless.The Communist Party of India-Marxist (CPI-M) expelled party leader Prosenjit Bose who had attacked the party for supporting UPA candidate Pranab Mukherjee in the presidential race.

"The country is reeling under economic crisis with uncontrolled price rise and here we have a union finance minister who says, if international crude prices go down as well as domestic oil prices are under control and there is a good monsoon this year, then the country's economy might be survive. This sort of "prudence" possessed by the person, who is now being nominated for the post of the country's President! And the party, which controls the ruling coalition at the Centre, is going all guns to seek support for its Presidential candidate and even trying to titillate the feelings of the people by saying that their candidate is home boy and there should be consensus on his candidature. This is a Central government, which can't guarantee food security to its people, but spends crores of taxpayers' money to secure its corrupt ministers," said Mr Mitra while speaking in a seminar organised by the state Left Front committee to mark the foundation day of the LF government in Bengal.  Bose, the convener of party's research unit, had resigned from the party and issued an open letter attacking the party's stand supporting Mukherjee. However, the CPI-M announced it had rejected Bose's letter of resignation and instead expelled him.

"The Politbureau rejects the letter of resignation submitted by Prosenjit Bose, convener of the Research Unit," said a CPI-M statement.

"It rejects the contents of the letter which seeks to malign the political line of the Party. The Polit Bureau expels Prosenjit Bose from the membership of the CPI-M under Article VIII (2) of the party constitution," it said.

In his letter , Bose,a familiar face on TV debates, said the CPI-M had committed a "grave error" by supporting Mukherjee.

Bose, who holds a PhD degree in Economics from Jawaharlal Nehru University, said the party's decision to support Mukherjee was against the line taken by the party congress held earlier this year.

"I protest against the decision by the Polit Bureau to support the candidature of Pranab Mukherjee...I consider this to be a grave error which will harm the party and disturb Left unity," he said in the letter.

Bose also attacked the party leadership, saying they have made "one mistake after another since 2007".

Among the "mistakes", the letter also mentioned the land acquisition in West Bengal, the Nandigram firing and allowing the UPA-I government to approach the International Atomic Energy Agency (IAEA) with the Indo-US nuclear deal.

The left camp was divided over the presidential polls, after the CPI-M and Forward Bloc decided to support Mukherjee in the presidential race, while the Communist Party of India and the Revolutionary Socialist Party (RSP) decided to abstain.

CPI-M has 3.30% votes in the electoral college and Forward Bloc has 0.40%.

Though former chief minister and Politburo member Mr Buddhadeb Bhattacharjee left the venue soon after the seminar started, among Mr Mitra's avid listeners were two other Politburo members, Mr Biman Bose and Dr Surjya Kanta Mishra.

Taking a dig at chief minister and Trinamul Congress supremo Miss Mamata Banerjee, Mr Mitra said: "This lady speaks about ethics, but switches here versions and statements overnight. What she says in the morning turns to something else in the afternoon and she is talking about conscience votes!"  

Among others who spoke at the seminar were journalist Mr N Ram and Prof CP Chandrasekhar of the JNU.


On Saturday, over 40 hours after the "biggest encounter" involving security forces and Maoists in Chhattisgarh, bodies of 19 alleged "hardcore Maoists and Jan Militia members" lay outside their huts in the three villages of Sarkeguda, Kottaguda and Rajpenta in Bijapur.

Villagers alleged no government official had spoken to them or visited their homes, and no autopsies had been carried out on the bodies.

Several bodies appeared to have been brutalised. This correspondent saw deep, hacking cuts, apparently made by axes, on some chests and foreheads. A senior CRPF officer rejected the possibility that the wounds might have been inflicted by security forces. "Our forces have never done such things and will never do this," the officer said.

Bijapur superintendent of police Prashant Agarwal said, "Proper post mortem was conducted in Basaguda thana. A team of doctors visited the thana and a report will be prepared."

Policemen at the thana — where the bodies were kept for about 12 hours before being handed to the families — were unable to say when the post mortem happened. No stitches or other tell-tale marks of an autopsy were visible on the bodies that this correspondent saw in the villages.

At Sarkeguda, the spot deep in the Dandakaranya jungles 520 km south of Raipur where the encounter happened, the stench was overpowering. A rotting pig lay nearby, a bullet in its jaw and two in the torso.

Late in the afternoon, one by one, the villagers began to cremate the bodies.


It sounds rather Funny that  CPI(M) justified its support to UPA Presidential poll nominee Pranab Mukherjee, saying abstention would have not only meant "lining up" with Trinamool Congress but also blunted its intervention in the emerging political scenario.

Noting that both ruling UPA and opposition NDA had been "weakened" as manifested in the way they dealt with the presidential poll, party General Secretary Prakash Karat said it was "necessary to utilise the conflicts and fissures within the ruling alliance between the bourgeois parties. Abstention at this juncture will not help in this regard."

Karat's views in an article in the forthcoming issue of party organ 'People's Democracy' came close on the heels of the expulsion of a youth leader, Prasenjit Bose, who had protested CPI(M)'s support to Mukherjee saying it as a "grave error which will harm the party and disturb Left unity."

The article also came in the wake of some Left parties like CPI, RSP and CPI-ML (Liberation), deciding to abstain from voting in the Presidential poll.

"Abstention in this case would mean lining up with Mamata Banerjee and Trinamool Congress in West Bengal. This would be politically damaging and unacceptable. ... It would (also) blunt the intervention of the party in the developing political scenario," Karat said.

Observing that CPI(M) and other Left parties had been weakened since 2009, he said no illusions should be harboured that "the ruling classes will cease their hostile approach" against the Left, given their "unremitting position" against neo-liberal policies.

Predicting a "renewed push" for neo-liberal reforms that "the big business and international finance capital are clamouring for", he said CPI(M) would like all opposition parties to take a united stand on these issues.


In an account of his innings in Rashtrapati Bhavan in his latest book 'Turning Points", Kalam said that while the Congress emerged the largest party, it did not come forward to stake claim. "In spite of that (being largest party), three days had passed and no party or coalition came forward to form the government. It was a cause of concern for me and I asked my secretaries and rushed a letter to the leader of the the Congress to come forward and stake claim," he has written.

Congress chief Sonia Gandhi met Kalam on May 18 and nominated Manmohan Singh to the PM's post. Kalam said he breathed a sigh of relief after Singh was sworn in on May 22, but he continued to be puzzled that three days went by without any claim. Congress sources said the delay was procedural since the parliamentary party had to meet and elect its leader.

Kalam has recalled the government formation in 2004 as a key event, noting that the task to appoint a PM was very tricky as there was no party with clear majority.

"In this context, the 2004 election was an interesting event. The elections were over, the results had been announced and none of the political parties had the strength to form the government on their own," he recounted.

With the services sector now accounting for 60 per cent of the gross domestic product, the Finance Ministry has set a target of Rs.1.24 lakh crore for service tax collection during 2012-13. This is significantly higher than the Rs.97,000 crore mopped up during the previous fiscal.

As per the negative list-based approach, services such as metered taxis, auto-rickshaws, betting, gambling, lottery, entry to amusement parks, transport of goods or passengers and transmission and distribution of electricity by distribution companies will not come under the service tax net.

Other important services exempted from the levy are solemn activities such as funeral, burial, mutate services and transport of deceased. In the education sector, school and university courses, as also approved vocational studies, have been exempted.

Likewise, auxiliary educational services and renting of immovable property by educational institutions in respect of education will not be taxed. However, coaching classes and training institutions will be taxed.

Among the other services included in the negative list are those provided to government, local authorities or a government authority for repair and maintenance of an aircraft. Likewise, services provided by advocates to other advocates and business entities up to a turnover of Rs. 10 lakh in the preceding financial year will be exempt from the tax.

Services provided by way of public convenience, such as bathroom, washroom, urinals or toilets, are included in the negative list, just as services relating to work contracts for a scheme under the Jawaharlal Nehru National Rural Urban Renewal Mission or the Rajiv Awas Yojana.

On the other hand,The Reserve Bank of India (RBI), on Friday, said that Current Account Deficit (CAD) rose to $78.2 billion (4.2 per cent of gross domestic product (GDP)) in 2011-12 from $ 46 billion (2.7 per cent of GDP) in 2010-11, "largely reflecting higher trade deficit on account of subdued external demand and relatively inelastic imports of POL and gold and silver".

During 2011-12, while growth in exports decelerated sharply to 23.6 per cent (37.5 per cent in 2010-11), imports grew by 31.1 per cent (26.7 per cent).

Imports of oil, up 46.9 per cent, and precious metals, up 49.4 per cent, together contributed nearly 45 per cent of total imports during the year. Notably, international price of the Indian basket of crude oil increased from $85.1 in 2010-11 to $111.9 a barrel in 2011-12. "Consequently, the trade deficit widened to $189.7 billion in 2011-12 from $130.4 billion in 2010-11."

It also said that foreign exchange reserves declined by $12.8 billion for the year ended March 31, 2012, against an increase of $13.1 billion during the previous year.

Foreign exchange reserves (including the valuation effects) declined by $10.4 billion during 2011-12 as against an increase of $25.8 billion, said the RBI.

The valuation gain, reflecting the depreciation of the U.S. dollar against major currencies, accounted for $2.4 billion during 2011-12 compared with $12.7 billion in 2010-11.

"The stress witnessed in India's Balance of Payments (BoP) in the third quarter continued during the fourth quarter of 2011-12 as well due to large increase in imports," the RBI said.

"While capital inflows improved, reflecting significant increase in portfolio investment and non-resident deposits, they fell short of financing requirements, resulting in a drawdown of foreign exchange reserves. The trade deficit during the fourth quarter exceeded $50 billion (10.6 per cent of GDP) and Current Account Deficit rose to $21.7 billion (4.5 per cent of GDP). This was $6.3 billion in the fourth quarter of 2010-11 (1.3 per cent of GDP).

On the Balance of Payments basis, growth in merchandise exports (year-on-year) decelerated sharply to 3.4 per cent during the fourth quarter of 2011-12 from 46.9 per cent during the corresponding quarter of 2010-11. Imports registered a growth of 22.6 per cent compared with 27.7 per cent in the year-ago period.

With export growth remaining substantially lower than import growth, the trade deficit widened to $51.6 billion in the fourth quarter of 2011-12 from $30 billion in the fourth quarter of 2010-11.

"Despite significant improvement in capital inflows in the fourth quarter of 2011-12, there was a drawdown of foreign exchange reserves of $5.7 billion (excluding valuation) as against an increase of $2 billion in the corresponding quarter of 2010-11, mainly because of deterioration in the current account," the apex bank said.

Chief Economic Advisor Kaushik Basu, on Friday, maintained that over the past few months, the government has been making efforts to solve the 'trust problems' with industry without any dilution in recent policies and hoped that with a couple of reforms in place the economy would bounce back from October onwards.

Economy will bounce back

Interacting with journalists on the sidelines of a function here, Dr. Basu said: "We want to work hand-in-hand with industry. There is [an] element of trust problem between industry and the government that has happened. Over the last several months, we were trying to correct it and we will try to correct this as much as possible in the coming months."

Over the last couple of days, there has been a discernible change for the better in business and stock market sentiments after Prime Minister Manmohan Singh took charge of the Finance portfolio from Pranab Mukherjee, who resigned to contest the presidential poll as the UPA's nominee and there has been hectic activity to kick-start the economy.

Asked if the change of guard at the Finance Ministry also signalled a re-think on tax policy issues, Dr. Basu said: "I don't think that any policy step [of recent months] has been diluted…We were giving actually for last couple of months, including during the time when Pranab Mukherjee was the Finance Minister, is the same message, that we want this industry to do well and we want to be as cooperative as possible." Clearing the misconception over, the Prime Minister was building up a 'dream team' — as in 1991 — to push the pending economic reforms, Dr. Basu said: "I don't think that because of reorganisation you are going to see a boost...they are strengthening the economy which we have been working to capitalise on."

Even as economic growth slumped to a nine-year low of 6.5 per cent in 2011-12, Dr. Basu was hopeful of a sharp recovery. "We are hopeful that economy is going to bounce back within 4-5 months. I mean it's October. Before that I can't realistically say that there will be an improvement, but October onwards..." And, "if we can put together a couple of reforms", things would speed up further and GDP growth will pick up any way, he said.

"We have been stressing that we will have to get a couple of reforms in place for which the big stumbling block has been getting all the political parties in the coalition together. So, that we have been working," he said, and without divulging what the reforms would be, went on to add "these [reforms] have been part of government agenda for the last 2-3 months."

Earlier, in his address at the 'Statistics Day 2012' function, organised by the Ministry of Statistics & Programme Implementation, the Chief Economic Advisor said that the country should pay more attention to business ethos. "How easy it is for you to run a business, to trade, to sell goods abroad, to bring in goods from abroad. It is not easy in India," he said while citing a World Bank report on the ease of doing business in various countries. "It's much harder in India...and this also contributes to us not being able to do that well in term of industry," he said.

Stressing on the need for lesser regulations and easier business procedures, Dr. Basu said the purpose of the government was "not to impede and thwart, but to enable and facilitate, to make life easier. Responsibility of government is to enable and facilitate. This really needs to be stressed…Most Commonwealth [countries] have overhauled a lot of their governance system, we need to work much harder on this."

The BSE benchmark Sensex continued its upward march for the fourth week in a row by surging over 457 points to settle the week at about 2-1/2- month high of 17,429.98 due to all-round buying on the back of clarity on tax-avoidance rules and upbeat global sentiment.

The Sensex ended lower over 90 points on Monday after Reserve Bank announced some measures to stem the rupee fall which fell short of market expectations.

RBI hiked FII limit in government bonds to USD 20 billion while allowing up to USD 10 billion via overseas borrowings route by domestic corporates for refinancing their rupee loans. The steps are expected to curb rupee's fall, which has lost over 26 per cent in last one year.

But, it has gained nearly 550 points in the last four days coinciding with Prime Minister Manmohan Singh taking over charge of Finance portfolio and signalling speedy revival of the slowing economic growth.

Market players cheered Finance Ministry's proposal that the controversial General Anti-Tax Avoidance Rules (GAAR) would not be applicable below a particular limit.

The sentiment was mainly boosted on Friday when reports from Europe suggested that a new plan is being worked out to support the ailing banks of the debt-ridden trading bloc, resulting the Sensex to gain by a whopping over 439 points.

Good capital inflows amid smart recovery in the rupee value and lower global crude oil prices too kept the market in positive terrain. Foreign Institutional Investors (FIIs) infused over Rs 1,549 crore in the week, including provisional data of June 29.

The rupee bounced back with a vengeance during the week by 154 paise, or 2.69 per cent, to 55.61 yesterday, after registering its all-time intra-trade low of 57.31 on June 22 and also logging a life-time closing low of 57.15 on the same day, giving some relief to the market, mainly import based companies.

India is likely to see acceleration in economic reforms over the next quarter, and it is the right time to invest in the country as valuations have become reasonable, CII President Adi Godrej has said.

The industry is very confident that over the next quarter, "we will see some strong moves in terms of reforms to accelerate growth", Godrej said at the Confederation of Indian Industry's Annual Reception in London last night.

He said the industry has been in dialogue with the government to suggest policy changes that would reignite the process of investment and growth.

Among CII's recommendations are easing of monetary policy, faster implementation of infrastructure projects and control on subsidies.

Godrej said this would be a good time to invest in India, given that valuations have become extremely reasonable.

This week, Prime Minister Manmohan Singh took additional charge of the Finance Ministry after Pranab Mukherjee resigned to contest presidential elections.

Pushed by Singh after he took charge of the Ministry, his top advisors, including Planning Commission Deputy Chairman Montek Singh Ahluwalia, and bureaucrats have started working overtime to deal with economic slowdown and low investor sentiment.

Meanwhile, signalling the increasing importance the UK attaches to India, British Minister for Energy and Climate Change Gregory Barker has been given additional responsibility for increasing trade and investment with India.

Barker himself made the announcement at the reception. "I have been given additional responsibility for India by the Prime Minister, David Cameron and am delighted to be making this official announcement here today," Barker said.

He will work along with his colleagues Jeremy Brown, Minister of State for Foreign and Commonwealth Affairs, and Lord Green, Minister for Trade.

The move shows the importance that UK gives to India, with three Ministers in the Government having responsibility of increasing bilateral trade and investment relations.

The announcement was received by thunderous applause in the historic Banqueting House, packed to capacity with guests including Ministers, MPs, Lords and Ladies, senior UK Government officials and Chief Executives of a large number of UK, Global and Indian companies.

Earlier in the day, CII in partnership with the Confederation of British Industry (CBI) organised its Annual Conference on "India-UK Partnerships in Reviving and Restoring Economic Growth".

The CII delegation also met UK Chancellor George Osborne, Mayor of London Boris Johnson and Home Affairs Select Committee Chairman Keith Vaz.

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