Daily News (In Short)-3-June-2015

#* Maggi noodles in soup, Delhi govt finds samples 'unsafe', warns of legal action against Nestle
The AAP government in Delhi said on Tuesday samples of Maggi noodles it tested were found “unsafe” and officials of manufacturer Nestle India will be summoned, as the popular instant snack brand faced the heat from authorities across the country.Only one of the thirteen specimens tested by the Delhi government’s food safety lab was deemed acceptable, with lead levels in ten of them exceeding the prescribed limit while five were inaccurately branded and contained taste-enhancer monosodium glutamate (MSG) without proper declaration.“On an average, the samples contained 3.5 ppm of lead (anything above 2.5 parts per million is considered too much). The highest was 4.59 ppm,” said health minister Satyendra Jain. “I have asked the Commissioner of Food Safety to study the report. We will take action accordingly.”The Delhi government has decided to initiate a case against the company for selling an unsafe product and impose a financial penalty for “misbranding”, officials said.

#* FIFA needs a profound overhaul: Blatter's opponents rejoice but more work lies ahead
ZURICH: FIFA president Sepp Blatter resigned Tuesday in a stunning capitulation to critics as a US criminal investigation reportedly drew closer to ensnaring the most powerful man in world sport.The Swiss official, who has ruled football's governing body for 17 years, said he would remain in charge until a special congress can choose a new leader and vowed to pursue strong reforms in that time.'Now he's gone. Let's celebrate.' But what lies ahead for FIFA? Photo: AP'Now he's gone. Let's celebrate.' But what lies ahead for FIFA? Photo: AP Blatter noted that he had just won re-election from FIFA members on Friday, but said: "I do not feel that I have a mandate from the entire world of football."
Some of Blatter's opponents rejoiced at his announcement while commercial sponsors urged FIFA to clean up its act and regain public trust."Why didn't he step down last week? Clearly there's a smoking gun of some sort," English FA chief Greg Dyke said.
"He's not been honourable in years. Now he's gone - let's celebrate."UEFA chief Michel Platini, a former ally who last week told Blatter to his face that he should leave, said: "It was a difficult decision, a brave decision, and the right decision."

#* PM Modi to Muslim leaders: I give you my word, if you knock on my door at midnight, I will respond
Prime Minister Narendra Modi assured a delegation of Mulsim leaders that he doesn’t believe in politics that divide people on communal lines, reportedly saying he would be available to address their issues even at midnight.Modi discussed social, economic and educational issues related to Muslims with the 30-member delegation led by Umer Ahmed Ilyasi, chief of the All India Imam Organisation, that called on him on the occasion of Shab-e-Baraat on Tuesday.During the 45-minute meeting, Modi said he “neither believes in politics which seeks to divide people on communal lines, nor will he ever speak communal language”, according to a statement issued by his office.He said the “politics of majority and minority had caused a lot of damage” to the country. Employment and development are the solution to all problems, and Modi said he is focused on delivering them.Ilyasi told The Indian Express that the Prime Minister assured the delegation he would be available to listen to their problems even at midnight.

#* Raghuram Rajan's no-more-RBI-rate-cuts stance is a strong message; govt should take heed
This may be the most dovish move yet from Reserve Bank of India governor Raghuram Rajan. He has raised the inflation forecast from 5.8% to 6% for January 2016 and simultaneously cut rates.When did we last hear of a central bank cutting rates in the very breath that it is raising inflation forecasts. And by an inflation targeting Volckeresque governor, at that!
My guess is Rajan advanced what was in his mind was an August cut, because of the predictions of poor monsoon and not in spite of it.If inflation does go above the RBI’s April trajectory and comes in above 4% in August, because of the poor monsoons, it would have been difficult for the central bank to cut rate then.The RBI would have been open to the charge that they didn’t cut when inflation was undershooting and are cutting when the index is overshooting. Now, when inflation has mildly undershot in March and April and growth is clearly buggered up, a rate cut is more defensible even with an expected rise in inflation forecast 10 months down the line.

#* Bye bye Nehru, hello Ambedkar: Here's what Rahul was doing in Mhow
In June 1915, Babasaheb Bhimrao Ambedkar became a post-graduate of the Columbia University, where he was studying on scholarship instituted by the Gaekwads of Baroda.Under normal circumstances, the Centenary of Ambedkar's post-graduation would have passed off unnoticed. But, the Congress has turned it into a major event; it is celebrating the event as a milestone in India's history.Congress vice president Rahul Gandhi was in Ambedkar's birthplace Mhow on Tuesday (2 June), where he participated in a discussion on the iconic leader and addressed a public meeting.Congress vice president Rahul Gandhi in Mohw, Madhya Pradesh. Image: INCIndiaCongress vice president Rahul Gandhi in Mhow, Madhya Pradesh. Image: INCIndia
Rahul should be grateful to Prime Minister Narendra Modi for helping the Congress discover Ambedkar and many other leaders it had forgotten. For most part of the past six decades, the Congress focussed only on the Nehru-Gandhis, pushing other prominent leaders from pre-Independence India into oblivion.

#* Adani Enterprises crashes 80%, Nestle 10%; Sensex falls 150 points; Nifty below 8200 
NEW DELHI: The S&P BSE Sensex opened lower on Tuesday and was down over 150 points on muted trend seen in other Asian markets. Bank Nifty fell below 200-DMA. Adani Enterprises dropped 80% today as the company hived off its port and power businesses and merged them with Adani Ports, Adani Power. However, investors might now have lost any money. Adani Ports will issue 14,123 shares for every 10,000 Adani Ent shares held; Adani Power will issue 18,596 shares for every 10,000 held. 

#* Janata Parivar merger: In contest with Lalu, Nitish Kumar scores with Congress backing
For all the muscle they are flexing at each other, Lalu Prasad and Nitish Kumar have both kept an alliance as their first objective. On Monday, in fact, both sides appeared to cede some ground on the alliance. JD(U) national president Sharad Yadav said in Saharsa the “CM candidate may be discussed in a post-poll scenario”. This is one of the key obstacles; the JD(U) wants Nitish as the CM candidate while the RJD hasn’t committed itself. And Lalu said, “I have called Nitish and said we must sort out seat sharing. We need to do it fast.” On Tuesday, however, the RJD’s Raghuvansh Prasad Singh said his party has several CM candidates.

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