Lame excuses will force us to audit spending on popularity slogans: SC to Delhi on air pollution

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New Delhi, Nov 15 | The Supreme Court on Monday slammed the Delhi government for making “lame excuses” in connection with air pollution in the capital.

A bench headed by Chief Justice N.V. Ramana and also comprising Justices D.Y. Chandrachud and Surya Kant told senior advocate Rahul Mehra, representing the national capital government, that ‘the Delhi government wants to accuse the farmers for stubble burning as a major contributory factor for air pollution in the capital’. It pointed out that it is an insignificant source of pollution here.

The bench, citing the Centre’s affidavit, said stubble burning is only contributing 4 per cent to air pollution in winters.

According to the Centre’s affidavit, stubble burning is not a major factor leading to severe air pollution level in the capital, rather the agricultural burning leads to merely 11 per cent contribution to PM 2.5 and PM 10 concentration.

The bench queried Mehra, “How many machines do you have for road cleaning?”

As Mehra started making submissions, Justice Kant said: “These kind of lame excuses will force us to hold an audit of the revenue you are earning and spending on the popularity slogans.”

Justice Chandrachud told Mehra, “We want some positive steps…how will you augment the number of machines..”.

The bench told Mehra to refrain from passing the buck on municipal corporations, and sought a clear answer from the Delhi government on steps it proposes to take to curb air pollution.

Mehra started submissions on the measures taken towards road cleaning, and submitted that the municipal corporations may be asked to file an affidavit detailing the same. At this juncture, the bench asked him not to pass on the buck to the municipal corporation and cited that in some other matter they have learnt that they do not have money to pay salaries on time. “You want to pass on the buck to them”, said the bench.

After receiving instructions, Mehra informed the bench that there are 69 machines (mechanical road sweeper machines) and added that the government will work on war footing to curb air pollution.

The top court was hearing a plea by a minor Aditya Dubey seeking directions on stubble burning which is leading to air pollution in the capital.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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