Unwed mother can claim guardianship of her child without disclosing name of father: Supreme Court
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NEW DELHI: An unwed mother has not to reveal name of father of her child for claiming guardianship of the child, the Supreme Court on Monday ruled.
A bench headed by Justice Vikramajit Sen held that consent of father is also not required while deciding guardianship of the child if the mother does not wish to disclose the parentage of the child.
The Supreme Court set aside order of trial court and Delhi high court directing an unwed mother, who filed guardianship petition for her Child, to disclose father's name to get his consent.
The court said that welfare of child should be of paramount importance while deciding such issues and the court should not insist for name of father if a lady does not want to disclose it.
NEW DELHI: An unwed mother has not to reveal name of father of her child for claiming guardianship of the child, the Supreme Court on Monday ruled.A bench headed by Justice Vikramajit Sen held that consent of father is also not required while deciding guardianship of the child if the mother does not wish to disclose the parentage of the child.
The Supreme Court set aside order of trial court and Delhi high court directing an unwed mother, who filed guardianship petition for her Child, to disclose father's name to get his consent.
The court said that welfare of child should be of paramount importance while deciding such issues and the court should not insist for name of father if a lady does not want to disclose it.
3 Union ministers, 2 MPs to man mini-PMO in Kashi
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LUCKNOW: The mini-PMO in Prime Minister Narendra Modi's constituency has just turned grander. The small secretariat set up last year to listen to the people's complaints, will be manned by three Union ministers, two MPs and three senior leaders of the party.
While the mini-PMO already has an in charge, the presence of these leaders, say party workers, would ensure quicker disposal of grievances. "The new arrangement has been made to ensure more relief to the people in the prime minister's constituency," said Shiv Shankar Pathak who heads Modi's 'jan sampark karyala' (PR office), popularly known in Varanasi as the mini-PMO.
According to party sources, it's after the prime minister's direction that the party has asked three Union ministers Manoj Sinha, Santosh Gangwar and Mahesh Sharma to be physically present at Varanasi office one by one on Saturdays to address the issues of the electorate. On the remaining two Saturdays, two MPs Mahendra Nath Pandey and Vinod Sonkar will chip in.
Apart from these three ministers and two MPs, senior functionaries of the party who have also been deployed are state president Laxmikant Bajpayi, leader of the legislature party in the assembly, Suresh Khanna and the party leader in the council, Hridaya Narain Dixit. They would report on Sundays. So, it was Suresh Khanna's turn on this Sunday.
This is for the first time that such an elaborate arrangement has been made for a constituency of any prime minister, particularly in UP. Even when BJP's Atal Bihari Vajpayee was the PM and got elected from Lucknow, it was only senior leader, Lalji Tandon, who would handle his constituency affairs.
In the Congress regime too, when Rajiv Gandhi was prime minister and was elected from Amethi, there was no such massive deployment of ministers and senior functionaries of the party to nurse his constituency.
Even in the present regime, the constituency of Union home minister Rajnath Singh is being taken care of by his representative Diwakar Tripathi alone and no minister is posted to address the grievances and demands of Lucknowites.
LUCKNOW: The mini-PMO in Prime Minister Narendra Modi's constituency has just turned grander. The small secretariat set up last year to listen to the people's complaints, will be manned by three Union ministers, two MPs and three senior leaders of the party.While the mini-PMO already has an in charge, the presence of these leaders, say party workers, would ensure quicker disposal of grievances. "The new arrangement has been made to ensure more relief to the people in the prime minister's constituency," said Shiv Shankar Pathak who heads Modi's 'jan sampark karyala' (PR office), popularly known in Varanasi as the mini-PMO.
According to party sources, it's after the prime minister's direction that the party has asked three Union ministers Manoj Sinha, Santosh Gangwar and Mahesh Sharma to be physically present at Varanasi office one by one on Saturdays to address the issues of the electorate. On the remaining two Saturdays, two MPs Mahendra Nath Pandey and Vinod Sonkar will chip in.
Apart from these three ministers and two MPs, senior functionaries of the party who have also been deployed are state president Laxmikant Bajpayi, leader of the legislature party in the assembly, Suresh Khanna and the party leader in the council, Hridaya Narain Dixit. They would report on Sundays. So, it was Suresh Khanna's turn on this Sunday.
This is for the first time that such an elaborate arrangement has been made for a constituency of any prime minister, particularly in UP. Even when BJP's Atal Bihari Vajpayee was the PM and got elected from Lucknow, it was only senior leader, Lalji Tandon, who would handle his constituency affairs.
In the Congress regime too, when Rajiv Gandhi was prime minister and was elected from Amethi, there was no such massive deployment of ministers and senior functionaries of the party to nurse his constituency.
Even in the present regime, the constituency of Union home minister Rajnath Singh is being taken care of by his representative Diwakar Tripathi alone and no minister is posted to address the grievances and demands of Lucknowites.
CVC probes babus over 47 missing SEZ files
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NEW DELHI: The Central Vigilance Commission has started an investigation against senior officials of the commerce ministry for 47 missing files of Special Economic Zones allocated to some of the country's top companies.
The SEZ files in question went missing from the ministry after the Comptroller and Auditor General of India (CAG) began reviewing the concessional land allotment made to the companies in some of the country's favoured locations and big cities. The CAG audit, which pointed out missing files, was tabled in Parliament in December 2014.
The CVC is investigating if the commerce ministry has found "any specific official responsible for irregular allotment of land and whether any undue benefits have been granted to developers in violation of rules".
A source said while the CVC is looking at fixing responsibility on the bureaucrats for lapses, a parallel inquiry has been initiated by the Central Bureau of Investigation against corporate beneficiaries who may have bypassed norms in SEZ allocations.
These key missing files include those relating to SEZ land allotted to DLF, Parsvanath, Moradabad SEZ and Handicraft, Infosys SEZs in Mysore, Bangalore and Mangalore and files of Wipro Ltd. No details of these SEZ units were available, including their application, documents submitted by these developers to fulfil their eligibility and papers substantiating approvals of the board of approval in the ministry.
When the audit team insisted on verifying details of these allotments and status of the projects, the ministry officials said the files were not traceable the source said. "We wrote letters demanding these files, but were told they are not available," said a senior audit official.
Besides writing to the ministry to provide details, the CVC has sought help of the auditor in identifying officials responsible for these missing files.
The list of 47 also includes Adani Port and SEZ, Essar Hazira, Moser Baer India in Greater Noida, Mahindra Worldcity, Chengalpattu, Suzlon SEZ, Bengal Shapoorji Infrastructure Development Pvt Ltd, Diamond and Gems Development Corporation (SURSEZ) and L&T Hi-tech City, among others. It is still not verifiable if all the corporates whose SEZ files have gone missing are involved in corrupt practices.
CAG in its audit had observed that these cases could not be audited for lack of cooperation from the commerce ministry. The ministry also did not provide the auditor with the current status of these projects, whether the developers had started the SEZ projects or land was diverted for commercial exploitation as had been revealed in several other cases during the audit.
Out of 45,635 hectares of land notified in the country for SEZ purposes, operations commenced in only 28,488 ha (approx 62%). In fact, the audit identified 5,402 ha of land in six states diverted for commercial purposes by developers against the SEZ norms.
NEW DELHI: The Central Vigilance Commission has started an investigation against senior officials of the commerce ministry for 47 missing files of Special Economic Zones allocated to some of the country's top companies. The SEZ files in question went missing from the ministry after the Comptroller and Auditor General of India (CAG) began reviewing the concessional land allotment made to the companies in some of the country's favoured locations and big cities. The CAG audit, which pointed out missing files, was tabled in Parliament in December 2014.
The CVC is investigating if the commerce ministry has found "any specific official responsible for irregular allotment of land and whether any undue benefits have been granted to developers in violation of rules".
A source said while the CVC is looking at fixing responsibility on the bureaucrats for lapses, a parallel inquiry has been initiated by the Central Bureau of Investigation against corporate beneficiaries who may have bypassed norms in SEZ allocations.
These key missing files include those relating to SEZ land allotted to DLF, Parsvanath, Moradabad SEZ and Handicraft, Infosys SEZs in Mysore, Bangalore and Mangalore and files of Wipro Ltd. No details of these SEZ units were available, including their application, documents submitted by these developers to fulfil their eligibility and papers substantiating approvals of the board of approval in the ministry.
When the audit team insisted on verifying details of these allotments and status of the projects, the ministry officials said the files were not traceable the source said. "We wrote letters demanding these files, but were told they are not available," said a senior audit official.
Besides writing to the ministry to provide details, the CVC has sought help of the auditor in identifying officials responsible for these missing files.
The list of 47 also includes Adani Port and SEZ, Essar Hazira, Moser Baer India in Greater Noida, Mahindra Worldcity, Chengalpattu, Suzlon SEZ, Bengal Shapoorji Infrastructure Development Pvt Ltd, Diamond and Gems Development Corporation (SURSEZ) and L&T Hi-tech City, among others. It is still not verifiable if all the corporates whose SEZ files have gone missing are involved in corrupt practices.
CAG in its audit had observed that these cases could not be audited for lack of cooperation from the commerce ministry. The ministry also did not provide the auditor with the current status of these projects, whether the developers had started the SEZ projects or land was diverted for commercial exploitation as had been revealed in several other cases during the audit.
Out of 45,635 hectares of land notified in the country for SEZ purposes, operations commenced in only 28,488 ha (approx 62%). In fact, the audit identified 5,402 ha of land in six states diverted for commercial purposes by developers against the SEZ norms.
MP CM Shivraj Singh Chouhan says 'not fair to link all deaths with Vyapam'; Congress demands his sacking
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NEW DELHI/BHOPAL: Amid Congress's demand for his sacking, MP chief minister Shivraj Singh Chouhan said that it was not fair to link all unnatural deaths in the state with the Vyapam scam.
The MP CM was speaking to reporters after the death of a woman trainee sub-inspector in Sagar district.
Adding to the string of deaths since the past two days, the body of trainee sub-inspector Anamika Sikarwar (25) was found on Monday in a lake adjacent to the Police Training Academy at Sagar district headquarters in Madhya Pradesh.
Anamika Sikarwar was selected as a sub-inspector in an exam conducted by Vyapam but police said that her selection has nothing to do with Vyapam scam and she was not a suspected beneficiary.
The chief minister quickly denied that the incident was linked to the Vyapam probe.
"It is sad and unfortunate incident. But with all responsibility I say that there is no connection of that unfortunate incident with Vyapam or its probe. And it is not fair to link all such unfortunate incidents with Vyapam," he said.
Congress, which has sought a Supreme Court-monitored CBI probe, stepped up its attack on Chouhan, demanding that he be sacked to allow an impartial investigation and said that he cannot escape responsibility for the "45 deaths".
"Shivraj Singh Chouhan should be sacked and an impartial probe should be done in the Vyapam scam," Congress spokesperson Randeep Surjewala said in New Delhi.
Congress spokesperson P C Chacko said that there are serious allegations against people close to Chouhan.
"The CM should ask for a CBI probe into the matter if he feels that he is in the clear," Chacko said.
Congress general secretary Digvijay Singh alleged that the death of the woman trainee sub-inspector was linked to the scam.
"Training Cop recruited through Vyapam commits suicide in Sagar Police Academy MP. 46th or 47th (sic)?," he tweeted.
The reference was to mysterious deaths of 45 persons since the massive scam in recruitment by Madhya Pradesh Professional Examination Board (MPPEB), known by its Hindi acronym 'Vyapam', came to light.
TV journalist Akshay Singh had died on Saturday under mysterious circumstances soon after he had interviewed the parents of a girl who was found dead after her name figured in the massive admission and recruitment scandal. Dean Arun Sharma was found dead on Sunday.
The BJP said the state government has no problem in handing over the probe to any agency considered suitable by the Jabalpur high court and Supreme Court.
"The matter had been examined repeatedly by both the Jabalpur High Court and the Supreme Court, and they always expressed and reposed their faith in the investigation by STF under the monitoring and supervision of SIT, constituted by the high court," party spokesperson GVL Narasimha Rao said.
"The state government would be over stepping its jurisdiction and the conduct would be highly improper for the state government to ask for a probe by any other agency without permission from court. The entire probe is being done by SIT under the supervision of a retired judge. So state government has no role to play whatsoever in the investigation," he said.
The MP CM was speaking to reporters after the death of a woman trainee sub-inspector in Sagar district.
Adding to the string of deaths since the past two days, the body of trainee sub-inspector Anamika Sikarwar (25) was found on Monday in a lake adjacent to the Police Training Academy at Sagar district headquarters in Madhya Pradesh.
Anamika Sikarwar was selected as a sub-inspector in an exam conducted by Vyapam but police said that her selection has nothing to do with Vyapam scam and she was not a suspected beneficiary.
The chief minister quickly denied that the incident was linked to the Vyapam probe.
"It is sad and unfortunate incident. But with all responsibility I say that there is no connection of that unfortunate incident with Vyapam or its probe. And it is not fair to link all such unfortunate incidents with Vyapam," he said.
Congress, which has sought a Supreme Court-monitored CBI probe, stepped up its attack on Chouhan, demanding that he be sacked to allow an impartial investigation and said that he cannot escape responsibility for the "45 deaths".
"Shivraj Singh Chouhan should be sacked and an impartial probe should be done in the Vyapam scam," Congress spokesperson Randeep Surjewala said in New Delhi.
Congress spokesperson P C Chacko said that there are serious allegations against people close to Chouhan.
"The CM should ask for a CBI probe into the matter if he feels that he is in the clear," Chacko said.
Congress general secretary Digvijay Singh alleged that the death of the woman trainee sub-inspector was linked to the scam.
"Training Cop recruited through Vyapam commits suicide in Sagar Police Academy MP. 46th or 47th (sic)?," he tweeted.
The reference was to mysterious deaths of 45 persons since the massive scam in recruitment by Madhya Pradesh Professional Examination Board (MPPEB), known by its Hindi acronym 'Vyapam', came to light.
TV journalist Akshay Singh had died on Saturday under mysterious circumstances soon after he had interviewed the parents of a girl who was found dead after her name figured in the massive admission and recruitment scandal. Dean Arun Sharma was found dead on Sunday.
The BJP said the state government has no problem in handing over the probe to any agency considered suitable by the Jabalpur high court and Supreme Court.
"The matter had been examined repeatedly by both the Jabalpur High Court and the Supreme Court, and they always expressed and reposed their faith in the investigation by STF under the monitoring and supervision of SIT, constituted by the high court," party spokesperson GVL Narasimha Rao said.
"The state government would be over stepping its jurisdiction and the conduct would be highly improper for the state government to ask for a probe by any other agency without permission from court. The entire probe is being done by SIT under the supervision of a retired judge. So state government has no role to play whatsoever in the investigation," he said.
SpiceJet lowers fares in limited period offer
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NEW DELHI: Budget airline SpiceJet on Monday rolled out another limited period low fare scheme, offering starting ticket prices as low as Rs 1,899 for flights across western and southern domestic network.
The latest sale offer "Red Hot Fares" with an all-inclusive starting ticket price of Rs 1,899 can be availed for flying on routes such as Mumbai-Goa, Ahmedabad-Mumbai, Bangalore-Hyderabad, Chennai-Bangalore, Pune-Bangalore, and many more, SpiceJet said in a release.
The bookings for the three-day sale are on and would remain open till midnight, July 8, the airline said adding the travel period covered in this sale is July 15 to September 30.
Tickets for this sale can be booked through the SpiceJet website, online travel portals and travel agents.
The sale is not available at SpiceJet's call centre or airport ticket offices, SpiceJet said.
NEW DELHI: Budget airline SpiceJet on Monday rolled out another limited period low fare scheme, offering starting ticket prices as low as Rs 1,899 for flights across western and southern domestic network. The latest sale offer "Red Hot Fares" with an all-inclusive starting ticket price of Rs 1,899 can be availed for flying on routes such as Mumbai-Goa, Ahmedabad-Mumbai, Bangalore-Hyderabad, Chennai-Bangalore, Pune-Bangalore, and many more, SpiceJet said in a release.
The bookings for the three-day sale are on and would remain open till midnight, July 8, the airline said adding the travel period covered in this sale is July 15 to September 30.
Tickets for this sale can be booked through the SpiceJet website, online travel portals and travel agents.
The sale is not available at SpiceJet's call centre or airport ticket offices, SpiceJet said.
Suzuki eyes customers who ‘upgrade to other brands’
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NEW DELHI: Suzuki has decided to roll out its new cars, aimed at younger buyers, with only the 'S' badge. The rear of the new cars will also sport the model's name and a logo denoting the vehicle's engine size, apart from a sticker of the Nexa dealership.
Currently, the badge 'Maruti Suzuki' is there on the boot of all the cars the company sells, including Alto, Swift and WagonR compacts and the Dzire and Ciaz sedans. "All the cars sold through Nexa outlets will have the 'S' logo. We wanted to de-clutter the rear of the car and so removed the Maruti Suzuki badging," R S Kalsi, Maruti Suzuki executive director (sales & marketing), told TOI at Nashik. "The Suzuki badging will be there as it has a good reputation and is associated with Maruti Suzuki."
The first car that rolls out of the upmarket Nexa network, which will have 100 outlets by the end of this fiscal, will be the S-Cross crossover. New cars that will be added include an all-new SUV (by the end of this fiscal), premium sedans and even expensive compacts, Kalsi said.
Maruti dominates the Indian car market and currently has a market share of nearly 47%. But this has been achieved by the sale of mainly value-for-money vehicles and compact cars such as the Alto and the Swift. With Nexa, through which the company aims to "pamper new-age buyers", Suzuki is looking to rope in upmarket customers who usually "upgrade to other brands" when they buy their second or third vehicle.
Maruti has been trying hard to gain a foothold in the premium end of the market, but with little success. Models such as the Kizashi sedan and Grand Vitara SUV, which were being imported here, failed miserably after being retailed through the company's current dealerships. Thus originated the idea of Nexa which will help it match up to competition from companies such as Honda, Toyota and Volkswagen in the premium end.
So the Nexa will carry a premium touch to its dealerships with sales executives—picked from industries such as hospitality, aviation, banking and premium auto dealerships— trained at five-star hotels. Carrying Apple's iPads, they will show aspects related to a vehicle on specialized electronic panels. "These outlets will be totally different from a conventional Maruti dealership. We want to create a different atmosphere, and every customer will be provided with a relationship manager to assist him throughout the age of the car," Kalsi said, adding that 700 executives have already been recruited and have received training with Dale Carnegie.
The company intends to launch vehicles priced near the Rs 10 lakh mark and upwards from Nexa showrooms. Meanwhile, the 'Maruti Suzuki' branding will be maintained on lower-priced cars that will be sold through the existing dealerships.
NEW DELHI: Suzuki has decided to roll out its new cars, aimed at younger buyers, with only the 'S' badge. The rear of the new cars will also sport the model's name and a logo denoting the vehicle's engine size, apart from a sticker of the Nexa dealership.Currently, the badge 'Maruti Suzuki' is there on the boot of all the cars the company sells, including Alto, Swift and WagonR compacts and the Dzire and Ciaz sedans. "All the cars sold through Nexa outlets will have the 'S' logo. We wanted to de-clutter the rear of the car and so removed the Maruti Suzuki badging," R S Kalsi, Maruti Suzuki executive director (sales & marketing), told TOI at Nashik. "The Suzuki badging will be there as it has a good reputation and is associated with Maruti Suzuki."
The first car that rolls out of the upmarket Nexa network, which will have 100 outlets by the end of this fiscal, will be the S-Cross crossover. New cars that will be added include an all-new SUV (by the end of this fiscal), premium sedans and even expensive compacts, Kalsi said.
Maruti dominates the Indian car market and currently has a market share of nearly 47%. But this has been achieved by the sale of mainly value-for-money vehicles and compact cars such as the Alto and the Swift. With Nexa, through which the company aims to "pamper new-age buyers", Suzuki is looking to rope in upmarket customers who usually "upgrade to other brands" when they buy their second or third vehicle.
Maruti has been trying hard to gain a foothold in the premium end of the market, but with little success. Models such as the Kizashi sedan and Grand Vitara SUV, which were being imported here, failed miserably after being retailed through the company's current dealerships. Thus originated the idea of Nexa which will help it match up to competition from companies such as Honda, Toyota and Volkswagen in the premium end.
So the Nexa will carry a premium touch to its dealerships with sales executives—picked from industries such as hospitality, aviation, banking and premium auto dealerships— trained at five-star hotels. Carrying Apple's iPads, they will show aspects related to a vehicle on specialized electronic panels. "These outlets will be totally different from a conventional Maruti dealership. We want to create a different atmosphere, and every customer will be provided with a relationship manager to assist him throughout the age of the car," Kalsi said, adding that 700 executives have already been recruited and have received training with Dale Carnegie.
The company intends to launch vehicles priced near the Rs 10 lakh mark and upwards from Nexa showrooms. Meanwhile, the 'Maruti Suzuki' branding will be maintained on lower-priced cars that will be sold through the existing dealerships.
Your selfie will soon verify online payments
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WASHINGTON: MasterCard is experimenting with a smartphone app which allows people to confirm their identity and authenticate online transactions via a facial scan.
Users will have to download the MasterCard phone app and at checkout they will be asked to hold up their phone to stare and blink at it.
"The new generation, which is into selfies...I think they'll find it cool. They'll embrace it," said Ajay Bhalla, security expert at the American financial services company MasterCard.
Currently, users can set up something called "SecureCode," which requires a password when shopping online.
However, passwords can be forgotten, stolen, or intercepted.
MasterCard is launching a small pilot programme involving 500 people that uses fingerprints - but also facial scans to verify online transactions, 'CNN Money' reported.
MasterCard said it has partnered with every smartphone maker to make this method of verification possible.
MasterCard said a pop-up will ask for authorisation after people buy something. They can choose fingerprint or facial recognition. Users who choose facial recognition have to stare at the phone and blink once.
MasterCard's security researchers believe blinking is the best way to prevent a thief from just holding up a picture of a person and fooling the system.
MasterCard said it does not actually get a picture of the user's finger or face. All fingerprint scans will create a code that stays on the device.
The facial recognition scan will map out a user's face, convert it to 1s and 0s and transmit that over the internet to MasterCard.
Bhalla said MasterCard is also experimenting with voice recognition, so people may be able to simply approve an online transaction by speaking to their phone.
MasterCard is also working with a Canadian firm, Nymi, to develop technology that will approve transactions by recognising a person's unique heartbeat.
WASHINGTON: MasterCard is experimenting with a smartphone app which allows people to confirm their identity and authenticate online transactions via a facial scan.Users will have to download the MasterCard phone app and at checkout they will be asked to hold up their phone to stare and blink at it.
"The new generation, which is into selfies...I think they'll find it cool. They'll embrace it," said Ajay Bhalla, security expert at the American financial services company MasterCard.
Currently, users can set up something called "SecureCode," which requires a password when shopping online.
However, passwords can be forgotten, stolen, or intercepted.
MasterCard is launching a small pilot programme involving 500 people that uses fingerprints - but also facial scans to verify online transactions, 'CNN Money' reported.
MasterCard said it has partnered with every smartphone maker to make this method of verification possible.
MasterCard said a pop-up will ask for authorisation after people buy something. They can choose fingerprint or facial recognition. Users who choose facial recognition have to stare at the phone and blink once.
MasterCard's security researchers believe blinking is the best way to prevent a thief from just holding up a picture of a person and fooling the system.
MasterCard said it does not actually get a picture of the user's finger or face. All fingerprint scans will create a code that stays on the device.
The facial recognition scan will map out a user's face, convert it to 1s and 0s and transmit that over the internet to MasterCard.
Bhalla said MasterCard is also experimenting with voice recognition, so people may be able to simply approve an online transaction by speaking to their phone.
MasterCard is also working with a Canadian firm, Nymi, to develop technology that will approve transactions by recognising a person's unique heartbeat.
Greeks defy Europe with 'No': How India may be impacted
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NEW DELHI: Greece lurched into uncharted territory and an uncertain future in Europe's common currency on Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy.
Here is how India may be impacted:
Indian shares and bonds fell on Monday, raising fears foreign investors would ride out the uncertainty by paring down riskier holdings in emerging markets.
The NSE index fell more than 1 percent, while the 10-year benchmark bond yield was up 1 basis point, after rising as much as 3 basis points earlier.
The volatility in Indian stock markets is likely to continue.
Indian markets had rallied to 2-12 month high on Friday, posting their third consecutive weekly gain. Earlier this week, markets tumbled on worries that Greece would default on its loan repayments to the International Monetary Fund.
Rupee might depreciate
Economists say there could be some temporary volatility in the financial market and if a Greece exit happens, then rupee might depreciate.
The Indian rupee weakened to 63.5600/57 per dollar compared to its previous close of 63.44/45 in early trading.
India may suffer capital outflows
Finance secretary Rajiv Mehrishi said the economic crisis in Greece may trigger capital outflows from India and the government is consulting the RBI to deal with the situation.
India's software and engineering exports may take a hit
With Greece witnessing a full-blown economic crisis, India's software and engineering exports may take a hit, industry and government officials warned on Monday. Engineering exporters' body EEPC India said the economic crisis in Greece will impact engineering exports from India as European Union is the largest destination for such shipments. The industry body said it sees indirect impact from the UK, Italy, Turkey and France.
Better prepared this time
Indian authorities say they are drawing up plans to meet any adverse impact on the economy from the crisis. However, economists say authorities are better prepared this time to face any adverse fallout as the situation in Greece has been volatile for some time. Unlike the earlier global financial crisis, authorities have been preparing to deal with any adverse fallout of a Greece exit, but they say there may be short-term volatility.
Domestic demand drives India's growth
Growth in India is driven by domestic demand and is expected to pick up. Most multilateral agencies see India as a bright spot with GDP growth in 7-8% range.
India has enough forex reserves
RBI governor Raghuram Rajan has said the Indian economy will see through any impact of the Greece crisis. Robust forex reserves, which are at an all-time high of $355 billion, will cushion any possible impact of the crisis
Greece is a short-term risk
Economists say the Greece situation is a short-term risk and authorities must keep a close eye and there should be close coordination between various wings.
Here is how India may be impacted:
Indian shares and bonds fell on Monday, raising fears foreign investors would ride out the uncertainty by paring down riskier holdings in emerging markets.
The NSE index fell more than 1 percent, while the 10-year benchmark bond yield was up 1 basis point, after rising as much as 3 basis points earlier.
The volatility in Indian stock markets is likely to continue.
Indian markets had rallied to 2-12 month high on Friday, posting their third consecutive weekly gain. Earlier this week, markets tumbled on worries that Greece would default on its loan repayments to the International Monetary Fund.
Rupee might depreciate
Economists say there could be some temporary volatility in the financial market and if a Greece exit happens, then rupee might depreciate.
The Indian rupee weakened to 63.5600/57 per dollar compared to its previous close of 63.44/45 in early trading.
India may suffer capital outflows
Finance secretary Rajiv Mehrishi said the economic crisis in Greece may trigger capital outflows from India and the government is consulting the RBI to deal with the situation.
India's software and engineering exports may take a hit
With Greece witnessing a full-blown economic crisis, India's software and engineering exports may take a hit, industry and government officials warned on Monday. Engineering exporters' body EEPC India said the economic crisis in Greece will impact engineering exports from India as European Union is the largest destination for such shipments. The industry body said it sees indirect impact from the UK, Italy, Turkey and France.
Better prepared this time
Indian authorities say they are drawing up plans to meet any adverse impact on the economy from the crisis. However, economists say authorities are better prepared this time to face any adverse fallout as the situation in Greece has been volatile for some time. Unlike the earlier global financial crisis, authorities have been preparing to deal with any adverse fallout of a Greece exit, but they say there may be short-term volatility.
Domestic demand drives India's growth
Growth in India is driven by domestic demand and is expected to pick up. Most multilateral agencies see India as a bright spot with GDP growth in 7-8% range.
India has enough forex reserves
RBI governor Raghuram Rajan has said the Indian economy will see through any impact of the Greece crisis. Robust forex reserves, which are at an all-time high of $355 billion, will cushion any possible impact of the crisis
Greece is a short-term risk
Economists say the Greece situation is a short-term risk and authorities must keep a close eye and there should be close coordination between various wings.
Modi Schemes: Agriculture & Irrigation – Part 2
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Dear Readers & Aspirants, We collected Modi Schemes in Agriculture & Irrigation and make it in PDF format. We Hope it will definitely help you for your SBI PO,IBPS,RBI assistant and many more upcoming Exams. All the Best My Dear Aspirants & Readers.
Kisan Vikas Patra (KVP) Re-Introduced
- The re-launched Kisan Vikas Patra (KVP) will be available to the
- investors in the denomination of Rs. 1000, 5000, 10,000 and 50,000, with no upper
- ceiling on investment. The certificates can be issued in single or joint names and can be transferred from one person to any other person / persons, multiple times. The facility of transfer from one post office to another anywhere in India and of nomination will be available. The certificate can also be pledged as security to avail loans from the banks and in other case where security is required to be deposited. Initially the certificates will be sold through post offices, but the same will soon be made available to the investing public through designated branches of nationalised banks.
- Kisan Vikas Patras have unique liquidity feature, where an investor can, if he so desires, encash his certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six months on pre-determined maturity value. The investment
- made in the certificate will double in 100 months.
- Reintroduction of Kisan Vikas Patra (KVP) is a welcome step not only in the
- direction of providing safe and secure investment avenues to the small investors but will
- also help in augmenting the savings rate in the country. The scheme will also safeguard
- small investors from fraudulent schemes. With a maturity period of 8 years 4 months, the collections under the scheme will be available with the Govt. for a fairly long period to be utilized in financing developmental plans of the Centre and State Governments and will also help in enhancing domestic household financial savings in the country.
* INTEREST RATE –8.7%
HISTORY__
Kisan Vikas Patra (KVP) – a certificate savings scheme was launched by the Government on 1st April, 1988. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations. The maturity period of the scheme when launched was 5 ½ years and the money invested doubled on maturity.
The scheme was very popular among the investors and the percentage share of gross collections secured in KVP was in the range of 9 % to 29 % against the total collections received under all National Savings Schemes in the country. Gross collections under the scheme in the year 2010-11 were Rs. 21631.16 crores which was 9 % of the total gross collections during the year. In the year of its closure, the scheme secured gross collections of Rs. 7575.95 crores (April 2011 to November 2011).
A.Krishi Amdani Beema Yojana
- To give an impetus to the dying agricultural practice
- There is 14 crore hectares of agricultural land in India, of which only 44 per cent in under irrigation
- Pradhan Mantri Gram Sinchai Yojana would be introduced so that more agricultural land is irrigated.
- Talking about the plight of small and marginal farmers he said that most of them were leaving the agricultural practice because of the uncertainty over the produce and returns.
- Krishi Amdani Beema Yojana so that the farmers don’t bear any financial burden if their produce gets destroyed due to unexpected weather or for any other reason.
B.Pradhan Mantri Gram Sinchai Yojana
- ensure water supply to farmers round the year.
- basic contours of the agri-irrigation programme would be on lines of the PMGSY, under which each irrigation project would be selected for releasing funds by the state government after seeking nod of the concerned Zilla Parishad.
- importance in the wake of poor implementation of various irrigation projects in some states despite release of central funds by different ministries under various schemes for several years.
- Besides, water is necessary for farmers as country’s 50 per cent of the agriculture land is rainfed.
C.Pradhan Mantri Sansad Adarsh Gram Yojana
The Saansad Adarsh Gram Yojana was launched last week, for the development of model villages. Under the Yojana, Members of Parliament (MPs) will be responsible for developing the socio-economic and physical infrastructure of three villages each by 2019, and a total of eight villages each by 2024.
The first Adarsh Gram must be developed by 2016, and two more by 2019. From 2019 to 2024, five more Adarsh Grams must be developed by each MP, one each year. This implies that a total of 6,433 Adarsh Grams, of the 2,65,000 gram panchayats, will be created by 2024. Key features of the Yojana are outlined below.
Objectives
Key objectives of the Yojana include:
- The development of model villages, called Adarsh Grams, through the implementation of existing schemes, and certain new initiatives to be designed for the local context, which may vary from village to village.
- Creating models of local development which can be replicated in other villages.
Identification of villages
MPs can select any gram panchayat, other than their own village or that of their spouse, to be developed as an Adarsh Gram. The village must have a population of 3000-5000 people if it is located in the plains, or 1000-3000 people if located in hilly areas.
Lok Sabha MPs can choose a village from their constituency, and Rajya Sabha MPs from the state from which they are elected. Nominated members can choose a village from any district of the country. MPs which represent urban constituencies can identify a village from a neighbouring rural constituency.
Funding
No new funds have been allocated for the Yojana. Resources may be raised through:
- Funds from existing schemes, such as the Indira Awas Yojana, Pradhan Mantri Gram Sadak Yojana, Mahatma Gandhi National Rural Employment Guarantee Scheme, and Backward Regions Grant Fund, etc.,
- The Member of Parliament Local Area Development Scheme (MPLADS),
- The gram panchayat’s own revenue,
- Central and State Finance Commission Grants, and
- Corporate Social Responsibility funds.
D.Soil Health Card Scheme for Every Farmer
AIM_
Farming as an activity contributes nearly 1/6th of our Gross Domestic Product and a majority of our population is dependent on it for their livelihood. Deteriorating soil health has been a cause of concern and that has been leading to sub optimal utilization of farming resources. Imbalanced use of fertilisers, low addition of organic matter and non-replacement of depleted micro and secondary nutrients over the years, has resulted in nutrient deficiencies and decrease in soil fertility in some parts of the country.
- Soil health needs to be assessed at regular intervals so as to ensure that farmers apply the required nutrients while taking advantages of the nutrients already present in the soil.
- Government has launched a scheme to provide every farmer a Soil Health Card in a Mission mode. The card will carry crop wise recommendations of nutrients/fertilizers required for farms, making it possible for farmers to improve productivity by using appropriate inputs.
- Central Government provides assistance to State Governments for setting up Soil Testing Laboratories for issuing Soil Health Cards to farmers. State Governments have adopted innovative practices like involvement of agricultural students, NGOs and private sector in soil testing, determining average soil health of villages, etc., to issue Soil Health Cards.
- A Soil Health Card is used to assess the current status of soil health and, when used over time, to determine changes in soil health that are affected by land management. A Soil Health Card displays soil health indicators and associated descriptive terms. The indicators are typically based on farmers’ practical experience and knowledge of local natural resources. The card lists soil health indicators that can be assessed without the aid of technical or laboratory equipment.
BENFITS
- The scheme will provide all 145 million farm owners in the country with a soil health card in the next three years.
- The budget allotted Rs.100 crore for issuing cards and an additional Rs.56 crore to set up 100 mobile soil testing laboratories across the country.
- The soil health card details existing nutrient status of the soil and crop-wise recommendations of nutrients and fertilizers required, making it easier for farmers to improve productivity by using appropriate inputs.
- “Applying fertilizer, best quality seeds and ample water is not enough. Farmers should nurture their soil and know what inputs to use and in what quantities,” Modi said while launching the scheme. “Starting soil health laboratories could be an employment avenue for rural youth. In Gujarat where every farmer has a soil health card unnecessary expenses on inputs have come down and farmers have saved a lot of money.”
- The agriculture ministry released Rs.86 crore for the soil health card scheme. In comparison, between 2007-08 and April 2014, the ministry had spent Rs.112 crore on the scheme. The flagship scheme of the ministry has been sanctioned Rs.568 crore for the next three years.
- Imbalanced use of fertilizer is has led to declining crop productivity in the country, further fuelled by a skewed fertilizer policy where urea is heavily subsided, leading to overuse.
- While urea consumption increased from 59% to 66% of total consumption in 2012-13 over 2010-11, per hectare consumption of fertilizer declined from 140kg to 128kg over the same period, noted the Economic Survey of 2014. Current trends in farm output reveal that the marginal productivity of soil in relation to the application of fertilizers is declining, it reported.
Note*__
National Project for Management of Soil Health and Fertility, was launched during 2008-09 by the previous United Progressive Alliance government.
- Programme started in rajasthan
- SHC issued in punjab
Kisan Vikas Patra (KVP) Re-Introduced
- The re-launched Kisan Vikas Patra (KVP) will be available to the
- investors in the denomination of Rs. 1000, 5000, 10,000 and 50,000, with no upper
- ceiling on investment. The certificates can be issued in single or joint names and can be transferred from one person to any other person / persons, multiple times. The facility of transfer from one post office to another anywhere in India and of nomination will be available. The certificate can also be pledged as security to avail loans from the banks and in other case where security is required to be deposited. Initially the certificates will be sold through post offices, but the same will soon be made available to the investing public through designated branches of nationalised banks.
- Kisan Vikas Patras have unique liquidity feature, where an investor can, if he so desires, encash his certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six months on pre-determined maturity value. The investment
- made in the certificate will double in 100 months.
- Reintroduction of Kisan Vikas Patra (KVP) is a welcome step not only in the
- direction of providing safe and secure investment avenues to the small investors but will
- also help in augmenting the savings rate in the country. The scheme will also safeguard
- small investors from fraudulent schemes. With a maturity period of 8 years 4 months, the collections under the scheme will be available with the Govt. for a fairly long period to be utilized in financing developmental plans of the Centre and State Governments and will also help in enhancing domestic household financial savings in the country.
* INTEREST RATE –8.7%
HISTORY__
Kisan Vikas Patra (KVP) – a certificate savings scheme was launched by the Government on 1st April, 1988. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations. The maturity period of the scheme when launched was 5 ½ years and the money invested doubled on maturity.
Kisan Vikas Patra (KVP) – a certificate savings scheme was launched by the Government on 1st April, 1988. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations. The maturity period of the scheme when launched was 5 ½ years and the money invested doubled on maturity.
The scheme was very popular among the investors and the percentage share of gross collections secured in KVP was in the range of 9 % to 29 % against the total collections received under all National Savings Schemes in the country. Gross collections under the scheme in the year 2010-11 were Rs. 21631.16 crores which was 9 % of the total gross collections during the year. In the year of its closure, the scheme secured gross collections of Rs. 7575.95 crores (April 2011 to November 2011).
A.Krishi Amdani Beema Yojana
- To give an impetus to the dying agricultural practice
- There is 14 crore hectares of agricultural land in India, of which only 44 per cent in under irrigation
- Pradhan Mantri Gram Sinchai Yojana would be introduced so that more agricultural land is irrigated.
- Talking about the plight of small and marginal farmers he said that most of them were leaving the agricultural practice because of the uncertainty over the produce and returns.
- Krishi Amdani Beema Yojana so that the farmers don’t bear any financial burden if their produce gets destroyed due to unexpected weather or for any other reason.
B.Pradhan Mantri Gram Sinchai Yojana
- ensure water supply to farmers round the year.
- basic contours of the agri-irrigation programme would be on lines of the PMGSY, under which each irrigation project would be selected for releasing funds by the state government after seeking nod of the concerned Zilla Parishad.
- importance in the wake of poor implementation of various irrigation projects in some states despite release of central funds by different ministries under various schemes for several years.
- Besides, water is necessary for farmers as country’s 50 per cent of the agriculture land is rainfed.
C.Pradhan Mantri Sansad Adarsh Gram Yojana
The Saansad Adarsh Gram Yojana was launched last week, for the development of model villages. Under the Yojana, Members of Parliament (MPs) will be responsible for developing the socio-economic and physical infrastructure of three villages each by 2019, and a total of eight villages each by 2024.
The first Adarsh Gram must be developed by 2016, and two more by 2019. From 2019 to 2024, five more Adarsh Grams must be developed by each MP, one each year. This implies that a total of 6,433 Adarsh Grams, of the 2,65,000 gram panchayats, will be created by 2024. Key features of the Yojana are outlined below.
Objectives
Key objectives of the Yojana include:
- The development of model villages, called Adarsh Grams, through the implementation of existing schemes, and certain new initiatives to be designed for the local context, which may vary from village to village.
- Creating models of local development which can be replicated in other villages.
Identification of villages
MPs can select any gram panchayat, other than their own village or that of their spouse, to be developed as an Adarsh Gram. The village must have a population of 3000-5000 people if it is located in the plains, or 1000-3000 people if located in hilly areas.
Lok Sabha MPs can choose a village from their constituency, and Rajya Sabha MPs from the state from which they are elected. Nominated members can choose a village from any district of the country. MPs which represent urban constituencies can identify a village from a neighbouring rural constituency.
Funding
No new funds have been allocated for the Yojana. Resources may be raised through:
- Funds from existing schemes, such as the Indira Awas Yojana, Pradhan Mantri Gram Sadak Yojana, Mahatma Gandhi National Rural Employment Guarantee Scheme, and Backward Regions Grant Fund, etc.,
- The Member of Parliament Local Area Development Scheme (MPLADS),
- The gram panchayat’s own revenue,
- Central and State Finance Commission Grants, and
- Corporate Social Responsibility funds.
D.Soil Health Card Scheme for Every Farmer
AIM_
Farming as an activity contributes nearly 1/6th of our Gross Domestic Product and a majority of our population is dependent on it for their livelihood. Deteriorating soil health has been a cause of concern and that has been leading to sub optimal utilization of farming resources. Imbalanced use of fertilisers, low addition of organic matter and non-replacement of depleted micro and secondary nutrients over the years, has resulted in nutrient deficiencies and decrease in soil fertility in some parts of the country.
- Soil health needs to be assessed at regular intervals so as to ensure that farmers apply the required nutrients while taking advantages of the nutrients already present in the soil.
- Government has launched a scheme to provide every farmer a Soil Health Card in a Mission mode. The card will carry crop wise recommendations of nutrients/fertilizers required for farms, making it possible for farmers to improve productivity by using appropriate inputs.
- Central Government provides assistance to State Governments for setting up Soil Testing Laboratories for issuing Soil Health Cards to farmers. State Governments have adopted innovative practices like involvement of agricultural students, NGOs and private sector in soil testing, determining average soil health of villages, etc., to issue Soil Health Cards.
- A Soil Health Card is used to assess the current status of soil health and, when used over time, to determine changes in soil health that are affected by land management. A Soil Health Card displays soil health indicators and associated descriptive terms. The indicators are typically based on farmers’ practical experience and knowledge of local natural resources. The card lists soil health indicators that can be assessed without the aid of technical or laboratory equipment.
BENFITS
- The scheme will provide all 145 million farm owners in the country with a soil health card in the next three years.
- The budget allotted Rs.100 crore for issuing cards and an additional Rs.56 crore to set up 100 mobile soil testing laboratories across the country.
- The soil health card details existing nutrient status of the soil and crop-wise recommendations of nutrients and fertilizers required, making it easier for farmers to improve productivity by using appropriate inputs.
- “Applying fertilizer, best quality seeds and ample water is not enough. Farmers should nurture their soil and know what inputs to use and in what quantities,” Modi said while launching the scheme. “Starting soil health laboratories could be an employment avenue for rural youth. In Gujarat where every farmer has a soil health card unnecessary expenses on inputs have come down and farmers have saved a lot of money.”
- The agriculture ministry released Rs.86 crore for the soil health card scheme. In comparison, between 2007-08 and April 2014, the ministry had spent Rs.112 crore on the scheme. The flagship scheme of the ministry has been sanctioned Rs.568 crore for the next three years.
- Imbalanced use of fertilizer is has led to declining crop productivity in the country, further fuelled by a skewed fertilizer policy where urea is heavily subsided, leading to overuse.
- While urea consumption increased from 59% to 66% of total consumption in 2012-13 over 2010-11, per hectare consumption of fertilizer declined from 140kg to 128kg over the same period, noted the Economic Survey of 2014. Current trends in farm output reveal that the marginal productivity of soil in relation to the application of fertilizers is declining, it reported.
Note*__
National Project for Management of Soil Health and Fertility, was launched during 2008-09 by the previous United Progressive Alliance government.
- Programme started in rajasthan
- SHC issued in punjab
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