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The Mint Report for 02 June 2010

The Mint Report for 02 June 2010
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First Published: Wed, Jun 02 2010. 11 53 PM IST
Updated: Wed, Jun 02 2010. 11 53 PM IST
A stunning victory for Mamata Banerjee’s Trinamool Congress on Wednesday. The party beat all expectations to sweep to power in the Kolkata Municipal Corporation elections. All in all, Trinamool picked up 95 out of the total 141 wards. The ruling Left Front got just 33, the Congress won a mere 10.
Wednesday’s surprise victory is a blow to the CPM. The party has been trying to regain lost ground in West Bengal after it won just 15 out of 42 Lok Sabha seats in last year’s elections. The CPM’s big challenge now will be next year’s assembly elections in which it will face a strengthened Trinamool. West Bengal has been ruled by the C P M for more than three decades.
Production of the world’s cheapest car is all set to accelerate. On Wednesday, Tata Motors inaugurated a new factory for the Nano in Sanand in Gujarat. The new plant will be able to churn out up to a quarter of a million Nanos every year. The company currently has orders for more than 200,000 Nanos, but has actually sold only about 34,000.
The department of telecommunications wants to hang up on Trai. It’s getting legal advice on whether it can avoid consulting the telecom regulator every time it changes a rule. The move comes at a time when Trai has clashed with the department over changing license terms for 2G services. As of now, the department of telecommunications refers all planned changes to Trai.
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First Published: Wed, Jun 02 2010. 11 53 PM IST