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January-February
Is the season considered auspicious for weddings. And among other things,
weddings mean buying gold. Last year, over 490 tonnes of the yellow metal
were sold in India. But the results of a survey, released in December,
show that when buying gold-which costs Rs 400-460 per gram-consumers lost
out on almost Rs 10,000 crore every year. Conducted nationwide in the
last quarter of 2001 by the Bureau of Indian Standards (BIS) in association
with local consumer organisations, the survey's aim was to ascertain adulteration
in gold ornaments.
Pure
gold is "24 carat" but is too soft to work on. So Indians prefer
the 22 carat gold that has been strengthened with an alloy. The survey,
however, found that what is sold as 22 carat was actually anything from
15 to 20 carat. Of the 15 samples tested at Mumbai 12 (80 per cent) were
adulterated; the figure was 86 per cent for Delhi. Gold ornaments made
in Jaipur showed 91 per cent purity while those from Hyderabad had 65
per cent purity. This means buyers paid one-thirds more than the quoted
price. On average, buyers were losing out on around 15 per cent value
in gold purchases. The BIS survey included Zaveri Bazar, the main retailing
outlet for precious metals in Mumbai, and posh south Delhi shops, the
implication being that cheating does not depend on the size of the establishment.
Of an estimated one lakh jewellery shops in the country, the globally
accepted hallmark certification guaranteeing the quality of precious metals
is available only in about 250. Hallmarking adds just 1 per cent to the
price of jewellery, says BIS. It had warned the RBI as far back as 1997
that gold items were adulterated. But as long as buyers do not demand
guarantee checks, the golden rip-off will continue.
-Sakuntala Narasimhan
Roving Eye
Band
Stand: It's a first in the parliamentary history of India, which has
no precedence of regional (or arguably, any other kind of) cooperation
among MPs from different parties. Over a third of the 54 MPs of both Houses
from the four north Indian states of Jammu and Kashmir, Himachal Pradesh,
Haryana and Punjab have decided to band together for the development of
the region. Among their demands: doubling the rail track between Jalandhar
and Jammu Tawi, introduction of a uniform tax structure in the region,
establishment of an international airport in Chandigarh, a fruit and vegetable
market in Haryana near the Delhi border, and diagnostic centres of Chandigarh's
Post Graduate Institute of Medical Sciences in each of the four states.
Bin Laden's Man in Bihar: Police in Bhagalpur, Bihar, are looking
into the antecedents of Mohammad Tahir who was arrested by Jammu police
on December 24 along with a terrorist called Raja Qamar Ayub belonging
to the Al Qaida terrorist network. Tahir, a maulvi, was reportedly acting
as a conduit for Al Qaida. Police say Tahir may be one of the suspected
members of the Harkat-ul-Ansar who escaped from the custody of the Hyderabad
Police in 1993.
Atal
Blows His Candles: To celebrate Prime Minister A.B. Vajpayee's birthday,
a day somewhat more famous as Christmas, Minister of State in the PMO
Vijay Goel came up with a birthday card that Vajpayee did not and, possibly,
could not quite receive. The 30ft x 48ft plywood creation was built over
10 days and stood outside the Red Fort for two days so as to be signed
by at least 1,00,000 people. The event managers, Show Craft, also sent
a model of the card to 7 Race Course Road.
In the evening, Goel took sycophancy to lyrical levels by organising
a kavi sammelan. Also released was a book of poems by Vajpayee, translated
into English by diplomat Pavan Varma.
"I never thought I would be recognised as a poet," Vajpayee
confessed. How perceptive of Mr Goel.

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