General Affairs
NCP Will Remain in Bihar Grand Alliance: JD-U, RJD
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PATNA: A day after rumblings of discontent in the NCP over seat-sharing, Bihar's ruling JD-U and its ally RJD today said that Sharad Pawar's party will remain part of the grand alliance to take on the BJP-led NDA in the coming state Assembly elections.
Leaders of both the Janata Dal-United (JD-U) and Rashtriya Janata Dal (RJD) said that the issue would be sorted out soon.
Senior Nationalist Congress Party (NCP) leader Tariq Anwar, party MP from Katihar in Bihar, yesterday expressed displeasure after his party was given only three of the 243 Assembly seats to contest and threatened that the NCP may go it alone.
"The NCP is a part of our alliance and will be a part. We will talk to the NCP leaders to redress their grievances," JD-U spokesperson Ajay Alok said.
Alok is considered close to Chief Minister Nitish Kumar. He said the JD-U was in favour of talks with NCP leaders over the issue of seat sharing.
"There is no question of the NCP pulling out of the grand alliance," he said.
RJD spokesperson Shakti Yadav too said Lalu Prasad and Nitish Kumar will talk to NCP leaders, including Tariq Anwar, on the issue. "The NCP will be part of our alliance in the coming polls," Shakti Yadav said.
When Lalu Prasad, Nitish Kumar and senior Congress leader C.P. Joshi yesterday announced the seat-sharing formula among the parties in the grand alliance, no leader of the NCP was present at the joint press meet in Patna.
According to NCP leaders, party leaders and workers have expressed strong reservation over allotment of only three seats to the party.
"We have informed top NCP leaders, including Tariq Anwar, about the anger among the party leaders and workers over only three seats given to us to contest," an NCP leader said.
Another NCP leader questioned Chief Minister Nitish Kumar and RJD chief Lalu Prasad that a consensus had been reached over seat-sharing which, he said, was far from the truth.
PATNA: A day after rumblings of discontent in the NCP over seat-sharing, Bihar's ruling JD-U and its ally RJD today said that Sharad Pawar's party will remain part of the grand alliance to take on the BJP-led NDA in the coming state Assembly elections.Leaders of both the Janata Dal-United (JD-U) and Rashtriya Janata Dal (RJD) said that the issue would be sorted out soon.
Senior Nationalist Congress Party (NCP) leader Tariq Anwar, party MP from Katihar in Bihar, yesterday expressed displeasure after his party was given only three of the 243 Assembly seats to contest and threatened that the NCP may go it alone.
"The NCP is a part of our alliance and will be a part. We will talk to the NCP leaders to redress their grievances," JD-U spokesperson Ajay Alok said.
Alok is considered close to Chief Minister Nitish Kumar. He said the JD-U was in favour of talks with NCP leaders over the issue of seat sharing.
"There is no question of the NCP pulling out of the grand alliance," he said.
RJD spokesperson Shakti Yadav too said Lalu Prasad and Nitish Kumar will talk to NCP leaders, including Tariq Anwar, on the issue. "The NCP will be part of our alliance in the coming polls," Shakti Yadav said.
When Lalu Prasad, Nitish Kumar and senior Congress leader C.P. Joshi yesterday announced the seat-sharing formula among the parties in the grand alliance, no leader of the NCP was present at the joint press meet in Patna.
According to NCP leaders, party leaders and workers have expressed strong reservation over allotment of only three seats to the party.
"We have informed top NCP leaders, including Tariq Anwar, about the anger among the party leaders and workers over only three seats given to us to contest," an NCP leader said.
Another NCP leader questioned Chief Minister Nitish Kumar and RJD chief Lalu Prasad that a consensus had been reached over seat-sharing which, he said, was far from the truth.
Captured Pak Terrorist Flown to Delhi by National Investigation Agency
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JAMMU, JAMMU AND KASHMIR: Pakistani terrorist Naveed, who was captured last week after an attack on a paramilitary convoy in Udhampur, Jammu and Kashmir, was brought to Delhi today in a special aircraft.
Yesterday, Naveed was questioned by the chief of the National Investigation Agency (NIA), Sharad Kumar, for two hours at a Joint Interrogation Centre on the outskirts of Jammu.
Sources say NIA is likely to write a letter rogatory to Pakistan to seek information about Naveed's activities in his country. With such a move, India will place it on record that it believes Naveed is from Pakistan, which has denied it.
Soon after he was caught, Naveed said he was from Faisalabad in Pakistan.
Sources say in Delhi, the terrorist will be subjected to a polygraph test, layered voice analysis test and psycho-analysis.
The NIA is also trying to get details of calls made by Naveed from India. Sources say the agency will use the Mutual Legal Assistance Treaty that it shares with 40 countries, not including Pakistan, to try and get Voice over Internet Protocol (VoIP) details of Naveed's conversations with his alleged handlers in Pakistan during his stay in Kashmir.
According to sources, Naveed allegedly made calls to Pakistan and other terrorists using Whatsapp and Viber services. The agency will contact all countries who maintain VoIP servers under the Treaty. VoIP is a technology that allows making voice calls using a broadband internet connection.
Sources say during the investigations, the NIA and Jammu and Kashmir police have got vital details of a larger terrorist network and their handlers from across the border. So far, 11 people have been detained. Sources say that Naveed stayed in various parts of Kashmir Valley for nearly two months after having entered India through the Line of Control.
JAMMU, JAMMU AND KASHMIR: Pakistani terrorist Naveed, who was captured last week after an attack on a paramilitary convoy in Udhampur, Jammu and Kashmir, was brought to Delhi today in a special aircraft.Yesterday, Naveed was questioned by the chief of the National Investigation Agency (NIA), Sharad Kumar, for two hours at a Joint Interrogation Centre on the outskirts of Jammu.
Sources say NIA is likely to write a letter rogatory to Pakistan to seek information about Naveed's activities in his country. With such a move, India will place it on record that it believes Naveed is from Pakistan, which has denied it.
Soon after he was caught, Naveed said he was from Faisalabad in Pakistan.
Sources say in Delhi, the terrorist will be subjected to a polygraph test, layered voice analysis test and psycho-analysis.
The NIA is also trying to get details of calls made by Naveed from India. Sources say the agency will use the Mutual Legal Assistance Treaty that it shares with 40 countries, not including Pakistan, to try and get Voice over Internet Protocol (VoIP) details of Naveed's conversations with his alleged handlers in Pakistan during his stay in Kashmir.
According to sources, Naveed allegedly made calls to Pakistan and other terrorists using Whatsapp and Viber services. The agency will contact all countries who maintain VoIP servers under the Treaty. VoIP is a technology that allows making voice calls using a broadband internet connection.
Sources say during the investigations, the NIA and Jammu and Kashmir police have got vital details of a larger terrorist network and their handlers from across the border. So far, 11 people have been detained. Sources say that Naveed stayed in various parts of Kashmir Valley for nearly two months after having entered India through the Line of Control.
GST on Ice, Reform Agenda Hit Again: 10 Latest Developments
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Here are the 10 latest developments on this big political story:
- The Goods and Services Tax (GST) Bill aims at boosting economic growth. It creates a national sales tax that would subsume a complicated network of central and state levies, a chaotic structure that inflates costs.
- Supporters say GST will add up to two percentage points to economic growth and boost domestic trade while creating a unified national market.
- The delay in the passage of the GST Bill will make it tougher for the government to meet a self-imposed deadline of next April for its launch.
- The PM has the option of calling a special sitting of Parliament to pass the Bill before the next scheduled session in winter. But that would be pointless unless the Congress agrees to a debate and vote on the bill. "We have not decided on that (special session) yet," said Finance Minister Arun Jaitley today.
- After Parliament sanctions the GST, it must be approved by half of India's states.
- The Congress says it will continue disruptions within and outside Parliament demanding the resignation of three of the PM's colleagues, including Foreign Minister Sushma Swaraj.
- The GST was considered low-hanging fruit among free-market reforms as it has rare bipartisan support. The Bill was first introduced by the Congress when it was in power.
- Political opposition had already forced the government to abandon new rules it had suggested for how industry can acquire farmland. The changes to existing laws were seen as necessary for reviving stalled projects worth billions of dollars and for creating vital infrastructure and industrial corridors.
- Top Indian tycoons on Wednesday appealed to feuding lawmakers to shed differences and approve the GST which intends to cut red tape and make it easier to move goods and services around the country.
- Congress sources say the party was determined to deprive the PM of the chance to claim the GST reform as a major accomplishment in his Independence Day speech on Saturday.
Here are the 10 latest developments on this big political story:
- The Goods and Services Tax (GST) Bill aims at boosting economic growth. It creates a national sales tax that would subsume a complicated network of central and state levies, a chaotic structure that inflates costs.
- Supporters say GST will add up to two percentage points to economic growth and boost domestic trade while creating a unified national market.
- The delay in the passage of the GST Bill will make it tougher for the government to meet a self-imposed deadline of next April for its launch.
- The PM has the option of calling a special sitting of Parliament to pass the Bill before the next scheduled session in winter. But that would be pointless unless the Congress agrees to a debate and vote on the bill. "We have not decided on that (special session) yet," said Finance Minister Arun Jaitley today.
- After Parliament sanctions the GST, it must be approved by half of India's states.
- The Congress says it will continue disruptions within and outside Parliament demanding the resignation of three of the PM's colleagues, including Foreign Minister Sushma Swaraj.
- The GST was considered low-hanging fruit among free-market reforms as it has rare bipartisan support. The Bill was first introduced by the Congress when it was in power.
- Political opposition had already forced the government to abandon new rules it had suggested for how industry can acquire farmland. The changes to existing laws were seen as necessary for reviving stalled projects worth billions of dollars and for creating vital infrastructure and industrial corridors.
- Top Indian tycoons on Wednesday appealed to feuding lawmakers to shed differences and approve the GST which intends to cut red tape and make it easier to move goods and services around the country.
- Congress sources say the party was determined to deprive the PM of the chance to claim the GST reform as a major accomplishment in his Independence Day speech on Saturday.
India Stands Educated About Congress, Family That Controls It: Arun Jaitley
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NEW DELHI: Union Finance Minister Arun Jaitley is speaking on the Monsoon Session of Parliament.
Here are the highlights of what he said:
- GST was a proposal that the Congress had agreed to earlier.
- Now they ae opposing it only because they are in the opposition.
- GST would have created a common market across the country. It would have enabled the easy movement of goods and contributed to GDP growth.
- Their aim was to delay GST. We will not tell you our strategy, but we are determined it happens by April 1.
- It is unfortunate that the supreme leader of a mainstream party would enter the well of the House.
- Congress Party's real intent was to not let the economy grow; they used "lung power" to try and halt progress.
- India stands educated about both the Congress Party and the family that controls it.
- These are disruptions without a cuase.
- You cannot help disruptions without a cause.
- They represent about 50 seats. 44 from the Congress and the Left 9.
- None of the others... they were not the protagonists of the disruptions.
- A certain level of maturity is required. In this case, the more senior he (Rahul Gandhi) becomes, the more immature he becomes.
- When seniority is thrust on you, a certain level of maturity is required. In this case, the more he (Rahul Gandhi) grows, the more immature he gets.
- The problem was never in the Lok Sabha. We could have done more.
- There are apologists who say it is up to the government to wave a magic wand and run Parliament.
- This ignores the numerical realities.
- The politics of obstructionism is primarily from the Rajya Sabha.
- After a token protest on the issue, most other non-Congress parties expressed the desire that the House must run.
- The composition of the Rajya Sabha keeps changing from time to time, they should remember that.
- In the last few days, it was the Congress and the Congress only that was coming to the well.
- I gave the example of 1975. When the family loses, the Congressmen take it personally.
- The people who read from a written script are often repetitive.
- The numbers in the Rajya Sabha, even for a Constitutional amendment, was loaded against the Congress.
- Therefore, they prevented a debate by not allowing the House to come to order.
NEW DELHI: Union Finance Minister Arun Jaitley is speaking on the Monsoon Session of Parliament.Here are the highlights of what he said:
- GST was a proposal that the Congress had agreed to earlier.
- Now they ae opposing it only because they are in the opposition.
- GST would have created a common market across the country. It would have enabled the easy movement of goods and contributed to GDP growth.
- Their aim was to delay GST. We will not tell you our strategy, but we are determined it happens by April 1.
- It is unfortunate that the supreme leader of a mainstream party would enter the well of the House.
- Congress Party's real intent was to not let the economy grow; they used "lung power" to try and halt progress.
- India stands educated about both the Congress Party and the family that controls it.
- These are disruptions without a cuase.
- You cannot help disruptions without a cause.
- They represent about 50 seats. 44 from the Congress and the Left 9.
- None of the others... they were not the protagonists of the disruptions.
- A certain level of maturity is required. In this case, the more senior he (Rahul Gandhi) becomes, the more immature he becomes.
- When seniority is thrust on you, a certain level of maturity is required. In this case, the more he (Rahul Gandhi) grows, the more immature he gets.
- The problem was never in the Lok Sabha. We could have done more.
- There are apologists who say it is up to the government to wave a magic wand and run Parliament.
- This ignores the numerical realities.
- The politics of obstructionism is primarily from the Rajya Sabha.
- After a token protest on the issue, most other non-Congress parties expressed the desire that the House must run.
- The composition of the Rajya Sabha keeps changing from time to time, they should remember that.
- In the last few days, it was the Congress and the Congress only that was coming to the well.
- I gave the example of 1975. When the family loses, the Congressmen take it personally.
- The people who read from a written script are often repetitive.
- The numbers in the Rajya Sabha, even for a Constitutional amendment, was loaded against the Congress.
- Therefore, they prevented a debate by not allowing the House to come to order.
'For 30 Years BJP Lied About My Father': Rahul Gandhi on Bofors Controversy
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NEW DELHI: In a sharp response to Foreign Minister Sushma Swaraj's barbs in Parliament referencing the Bofors controversy, Rahul Gandhi said today: "For 30 years the BJP has lied about my father."
The Bofors scandal of the 1980s was based on allegation that Swedish defence manufacturer Bofors paid huge kickbacks to Rahul Gandhi's father and then prime minister Rajiv Gandhi and others for the sale of an artillery gun to India. In 2004, a court in Delhi said there was no evidence that Rajiv Gandhi had accepted bribes. Rajiv Gandhi was assassinated in 1991.
"The judicial system of India has cleared Rajiv Gandhi," the Congress vice president said today to questions on Sushma Swaraj alleging that kickbacks were paid to the Gandhis.
While rebutting the Congress' allegations that she had committed a crime by helping disgraced cricket tycoon Lalit Modi get urgent travel documents in Britain last year, Mrs Swaraj had said: "Since you like holidaying so much, next time you take a break, I suggest you read up on your family history, read all the kale karname (wrong deeds) and ask, 'momma, how much money did we make in the Quattrocchi case...?"
The BJP has always accused the Congress of letting Ottavio Quattrocchi, an alleged middleman for Bofors, get away without facing action.
Sushma Swaraj also raised another allegation against Rajiv Gandhi, that he let Warren Anderson, the chief of Union Carbide, leave India days after a deadly gas leak from the factory left thousands dead in Bhopal in 1984.
NEW DELHI: In a sharp response to Foreign Minister Sushma Swaraj's barbs in Parliament referencing the Bofors controversy, Rahul Gandhi said today: "For 30 years the BJP has lied about my father."The Bofors scandal of the 1980s was based on allegation that Swedish defence manufacturer Bofors paid huge kickbacks to Rahul Gandhi's father and then prime minister Rajiv Gandhi and others for the sale of an artillery gun to India. In 2004, a court in Delhi said there was no evidence that Rajiv Gandhi had accepted bribes. Rajiv Gandhi was assassinated in 1991.
"The judicial system of India has cleared Rajiv Gandhi," the Congress vice president said today to questions on Sushma Swaraj alleging that kickbacks were paid to the Gandhis.
While rebutting the Congress' allegations that she had committed a crime by helping disgraced cricket tycoon Lalit Modi get urgent travel documents in Britain last year, Mrs Swaraj had said: "Since you like holidaying so much, next time you take a break, I suggest you read up on your family history, read all the kale karname (wrong deeds) and ask, 'momma, how much money did we make in the Quattrocchi case...?"
The BJP has always accused the Congress of letting Ottavio Quattrocchi, an alleged middleman for Bofors, get away without facing action.
Sushma Swaraj also raised another allegation against Rajiv Gandhi, that he let Warren Anderson, the chief of Union Carbide, leave India days after a deadly gas leak from the factory left thousands dead in Bhopal in 1984.
Business Affairs
Indian Oil Q1 profit doubles on higher refining margins
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Indian Oil Corp, the nation's biggest oil company, on Thursday reported 2.5-fold jump in its June quarter net profit to Rs 6,436 crore as refining margin rose to seven-year high.
It reported net profit of Rs 6,435.70 crore, or Rs 26.51 per share, for April-June quarter of the current fiscal, compared with Rs 2,522.94 crore, or Rs 10.39 a share, in the year-ago period.
Variation in profit is majorly due to higher refinery and petrochemical margins, IOC Chairman B Ashok said. It earned $10.77 on turning every barrel of crude oil into fuel in the first quarter of 2015-16, compared with a gross refining margins (GRMs) of $2.25 per barrel.
GRMs are the highest since June quarter of 2008-09 fiscal when we clocked $16.81 per barrel margin, he said.
"Refinery throughput was 5.5 per cent higher at 13.568 million tonnes. Our refinery margin in the quarter was Rs 6,521 crore as compared to Rs 705 crore in the corresponding period of last financial year. Petochem margin rose to Rs 1,875 crore from Rs 719 crore," he said.
GRMs were higher because of inventory gain of $4.78 per barrel, he said.
Ashok said GRMs were high because of inventory gain as well as better operational performance. There was a total of Rs 3,218 crore of inventory gain, resulting from valuation of oil rising between the time it is bought, processed and sold.
There was an inventory gain of Rs 2,395 crore on crude oil in the first quarter as compared to an inventory loss of Rs 426 crore a year ago.
Also there was an inventory gain of Rs 823 crore on product, up from Rs 589 crore in the first quarter of last fiscal, he said.
He said IOC received most of the revenue loss on sale of public distribution system kerosene and subsidised cooking gas compensated by the government (Rs 1,732.95 crore) and upstream oil firms such as Oil and Natural gas Corp Ltd (ONGC) (Rs 878.84 crore).
Company's borrowings have come down to Rs 52,519 crore as on June 30 from Rs 55,247 crore as on March 31, he said.
Total income from operations fell 19.2 per cent year-on-year (up over 7 per cent sequentially) to Rs 1.01 lakh crore due to fall in crude oil prices.
Other income during the June quarter plunged 80 per cent to Rs 362.4 crore while tax expenses shot up 169 per cent to Rs 2,764.2 crore compared to same quarter last year. Finance costs also slipped 35.2 per cent to Rs 592.2 crore from Rs 913.9 crore.
Indian Oil Corp, the nation's biggest oil company, on Thursday reported 2.5-fold jump in its June quarter net profit to Rs 6,436 crore as refining margin rose to seven-year high.
It reported net profit of Rs 6,435.70 crore, or Rs 26.51 per share, for April-June quarter of the current fiscal, compared with Rs 2,522.94 crore, or Rs 10.39 a share, in the year-ago period.
Variation in profit is majorly due to higher refinery and petrochemical margins, IOC Chairman B Ashok said. It earned $10.77 on turning every barrel of crude oil into fuel in the first quarter of 2015-16, compared with a gross refining margins (GRMs) of $2.25 per barrel.
GRMs are the highest since June quarter of 2008-09 fiscal when we clocked $16.81 per barrel margin, he said.
"Refinery throughput was 5.5 per cent higher at 13.568 million tonnes. Our refinery margin in the quarter was Rs 6,521 crore as compared to Rs 705 crore in the corresponding period of last financial year. Petochem margin rose to Rs 1,875 crore from Rs 719 crore," he said.
GRMs were higher because of inventory gain of $4.78 per barrel, he said.
Ashok said GRMs were high because of inventory gain as well as better operational performance. There was a total of Rs 3,218 crore of inventory gain, resulting from valuation of oil rising between the time it is bought, processed and sold.
There was an inventory gain of Rs 2,395 crore on crude oil in the first quarter as compared to an inventory loss of Rs 426 crore a year ago.
Also there was an inventory gain of Rs 823 crore on product, up from Rs 589 crore in the first quarter of last fiscal, he said.
He said IOC received most of the revenue loss on sale of public distribution system kerosene and subsidised cooking gas compensated by the government (Rs 1,732.95 crore) and upstream oil firms such as Oil and Natural gas Corp Ltd (ONGC) (Rs 878.84 crore).
Company's borrowings have come down to Rs 52,519 crore as on June 30 from Rs 55,247 crore as on March 31, he said.
Total income from operations fell 19.2 per cent year-on-year (up over 7 per cent sequentially) to Rs 1.01 lakh crore due to fall in crude oil prices.
Other income during the June quarter plunged 80 per cent to Rs 362.4 crore while tax expenses shot up 169 per cent to Rs 2,764.2 crore compared to same quarter last year. Finance costs also slipped 35.2 per cent to Rs 592.2 crore from Rs 913.9 crore.
Tata Steel to continue talks to sell long-products unit in Europe
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Tata Steel is continuing discussions to sell its loss-making long-products business in Europe, the company said on Wednesday, after talks with Swiss-based Klesch Group failed.
"I think it will be fair to say that we will require 4-5 months to, at least, understand the strategic options," said Koushik Chatterjee, Executive Director and Chief Financial Officer of Tata Steel.
Tata Steel, Europe's second-largest steelmaker, said last week it had spun off the long-products unit, which makes items such as plates, sections and wire rods, into a standalone business to better pursue strategic options after talks with Klesch failed.
The company has been forced to cut costs and jobs following its ill-timed entry into Europe, where steel demand has languished after the financial crisis and clients have turned to cheaper imports.
On Tuesday, Tata Steel warned against "significant uncertainty" in Europe.
The company's long-products operation employs 6,500 people, mostly in Scunthorpe in the English midlands, and makes products for use in construction, railways, shipbuilding and engineering.
Tata Steel is continuing discussions to sell its loss-making long-products business in Europe, the company said on Wednesday, after talks with Swiss-based Klesch Group failed.
"I think it will be fair to say that we will require 4-5 months to, at least, understand the strategic options," said Koushik Chatterjee, Executive Director and Chief Financial Officer of Tata Steel.
Tata Steel, Europe's second-largest steelmaker, said last week it had spun off the long-products unit, which makes items such as plates, sections and wire rods, into a standalone business to better pursue strategic options after talks with Klesch failed.
The company has been forced to cut costs and jobs following its ill-timed entry into Europe, where steel demand has languished after the financial crisis and clients have turned to cheaper imports.
On Tuesday, Tata Steel warned against "significant uncertainty" in Europe.
The company's long-products operation employs 6,500 people, mostly in Scunthorpe in the English midlands, and makes products for use in construction, railways, shipbuilding and engineering.
Huge explosions in China's Tianjin port area kill 17, hurt 400
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Two massive explosions caused by flammable goods ripped through an industrial area in the northeast Chinese port city of Tianjin late on Wednesday, killing 17 people and injuring as many as 400, official Chinese media reported.
Authorities had lost contact with 36 firefighters on the scene, the official Beijing News newspaper reported, citing the Tianjin fire department.
The force of the explosions unnerved residents across much of the city of 15 million people, with some posting videos on the Internet that showed giant fireballs shooting into the sky and shockwaves buffeting apartment blocks and cars.
Fires were still burning after dawn, with photographs on Chinese news websites showing what appeared to be several destroyed buildings as well as torched cars at a multi-storey car park inside a logistics base at Tianjin Port. The port, one of the busiest in China, was operating normally, a port official said.
President Xi Jinping demanded that authorities quickly extinguish the fires and "make full effort to rescue and treat the injured and ensure the safety of people and their property", China Central Television (CCTV) said on its official microblog.
CCTV said the blasts erupted in a shipment of explosives at around 11:30 pm local time (1530 GMT), triggering a shockwave that was felt kilometres (miles) away. The second blast came roughly 30 seconds after the first, state media said.
Video posted on YouTube from what appeared to be an apartment building some distance from the scene showed fire shooting into the night sky from the initial blast when the second, much bigger, explosion rocked the area, sending a huge fireball into the air.
Seconds later, shockwaves hit the apartment building.
"Our building is shaking. Is this an atomic bomb?" said a frenzied voice inside.
In other amateur video which appears to be shot closer to the scene, people scream from inside a car as the shockwave hits from the second blast, rocking their vehicle.
The official People's Daily newspaper said the death toll was 17 while other state media said six firefighters were among the dead.
The official Xinhua news agency gave varying estimates of between 300 and 400 injured, with 32 critically hurt.
PANIC
Xinhua said the explosions ripped through a warehouse storing "dangerous goods". The first explosion was equivalent to 3 tonnes of TNT and the second blast 21 tonnes of TNT.
It identified the owner of the warehouse as Tianjin Dongjiang Port Ruihai International Logistics.
The company's website said it was a government-approved firm specialising in handling "dangerous goods". Company officials could not immediately be reached for comment.
Canadian teacher Monica Andrews told the BBC that she awoke in panic after what she thought was an earthquake.
"I ... looked out the window and the sky was red ... I just watched a second explosion go off and (it was) just pure chaos, everyone leaving their apartment buildings thinking it's an earthquake, cars trying to leave the complex and ... it was crazy the amount of light that this explosion and fire lit up," she said.
Pictures posted on Chinese media websites also showed residents and workers, some bleeding, fleeing from near the scene. Citing a local hospital, Xinhua said people had been hurt by broken glass and stones.
"CCTV said on its website about 100 fire trucks had been sent to the scene. Several fire trucks had been destroyed and nearby firefighters wept as they worked to extinguish flames", the Beijing News said.
Tianjin is home to around 15 million people, making it one of the biggest cities in China.
Industrial accidents are not uncommon in China following three decades of breakneck economic growth. A blast at an auto parts factory in eastern China killed 75 people a year ago when a room filled with metal dust exploded.
Two massive explosions caused by flammable goods ripped through an industrial area in the northeast Chinese port city of Tianjin late on Wednesday, killing 17 people and injuring as many as 400, official Chinese media reported.
Authorities had lost contact with 36 firefighters on the scene, the official Beijing News newspaper reported, citing the Tianjin fire department.
The force of the explosions unnerved residents across much of the city of 15 million people, with some posting videos on the Internet that showed giant fireballs shooting into the sky and shockwaves buffeting apartment blocks and cars.
Fires were still burning after dawn, with photographs on Chinese news websites showing what appeared to be several destroyed buildings as well as torched cars at a multi-storey car park inside a logistics base at Tianjin Port. The port, one of the busiest in China, was operating normally, a port official said.
President Xi Jinping demanded that authorities quickly extinguish the fires and "make full effort to rescue and treat the injured and ensure the safety of people and their property", China Central Television (CCTV) said on its official microblog.
CCTV said the blasts erupted in a shipment of explosives at around 11:30 pm local time (1530 GMT), triggering a shockwave that was felt kilometres (miles) away. The second blast came roughly 30 seconds after the first, state media said.
Video posted on YouTube from what appeared to be an apartment building some distance from the scene showed fire shooting into the night sky from the initial blast when the second, much bigger, explosion rocked the area, sending a huge fireball into the air.
Seconds later, shockwaves hit the apartment building.
"Our building is shaking. Is this an atomic bomb?" said a frenzied voice inside.
In other amateur video which appears to be shot closer to the scene, people scream from inside a car as the shockwave hits from the second blast, rocking their vehicle.
The official People's Daily newspaper said the death toll was 17 while other state media said six firefighters were among the dead.
The official Xinhua news agency gave varying estimates of between 300 and 400 injured, with 32 critically hurt.
PANIC
PANIC
Xinhua said the explosions ripped through a warehouse storing "dangerous goods". The first explosion was equivalent to 3 tonnes of TNT and the second blast 21 tonnes of TNT.
It identified the owner of the warehouse as Tianjin Dongjiang Port Ruihai International Logistics.
The company's website said it was a government-approved firm specialising in handling "dangerous goods". Company officials could not immediately be reached for comment.
Canadian teacher Monica Andrews told the BBC that she awoke in panic after what she thought was an earthquake.
"I ... looked out the window and the sky was red ... I just watched a second explosion go off and (it was) just pure chaos, everyone leaving their apartment buildings thinking it's an earthquake, cars trying to leave the complex and ... it was crazy the amount of light that this explosion and fire lit up," she said.
Pictures posted on Chinese media websites also showed residents and workers, some bleeding, fleeing from near the scene. Citing a local hospital, Xinhua said people had been hurt by broken glass and stones.
"CCTV said on its website about 100 fire trucks had been sent to the scene. Several fire trucks had been destroyed and nearby firefighters wept as they worked to extinguish flames", the Beijing News said.
Tianjin is home to around 15 million people, making it one of the biggest cities in China.
Industrial accidents are not uncommon in China following three decades of breakneck economic growth. A blast at an auto parts factory in eastern China killed 75 people a year ago when a room filled with metal dust exploded.
Stocks to watch out for today: Coal India, DLF and more
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The Bombay Stock Exchange (BSE) Sensex and National Stock Exchange (Nifty) closed more than one per cent down on Wednesday, hitting a two-week low, as uncertainty over the fate of Goods and Services Tax Bill and global volatility following devaluation of the Chinese yuan weighed on blue chips.
The 30-share barometer of BSE closed at 27,512.26, down by 353.83 points or 1.27 per cent. On similar lines, the NSE index Nifty closed 112.90 points or 1.33 per cent down at 8,349.45.
Below are the key stocks that may stay in focus today:
- Coal India: The state-run coal miner's consolidated net profit dropped by 6.6 per cent to Rs 3,764.34 crore in the April-June quarter ended June 30, 2015 due to higher expenses. Total income from operations of the company during the quarter dropped to Rs 37.74 crore, over Rs 67.25 crore in the year-ago period. Shares of the company closed at Rs 371.45 on BSE, down 5.53 per cent from previous close.
- Telecom stocks: The Union cabinet cleared a proposal on Wednesday that had suggested allowing telcos to share spectrum in the same band in order to reduce call drops.
- DLF: DLF has raised Rs 1,000 crore through issuance of non-convertible debentures as part of its strategy to boost internal cash flows. Apart from this, the real-estate company is expected to announce its quarterly result today. Shares of the company closed at Rs 117.20, down by 5.71 per cent.
- IndusInd Bank:IndusInd Bank has raised Rs 5,081 crore by issuing six crore new shares via Qualified Institutional Placement (QIP) and preferential issuances. Shares of the bank closed at Rs 910.55 apiece, down 4.2 per cent on BSE.
- Nestle: The US health regulator USFDA said its tests have found the lead in the Maggi noodles within acceptable levels for US consumers. Shares of the company closed at Rs 6184.70 apiece, down 1.91 per cent on BSE.
The Bombay Stock Exchange (BSE) Sensex and National Stock Exchange (Nifty) closed more than one per cent down on Wednesday, hitting a two-week low, as uncertainty over the fate of Goods and Services Tax Bill and global volatility following devaluation of the Chinese yuan weighed on blue chips.The 30-share barometer of BSE closed at 27,512.26, down by 353.83 points or 1.27 per cent. On similar lines, the NSE index Nifty closed 112.90 points or 1.33 per cent down at 8,349.45.
Below are the key stocks that may stay in focus today:
- Coal India: The state-run coal miner's consolidated net profit dropped by 6.6 per cent to Rs 3,764.34 crore in the April-June quarter ended June 30, 2015 due to higher expenses. Total income from operations of the company during the quarter dropped to Rs 37.74 crore, over Rs 67.25 crore in the year-ago period. Shares of the company closed at Rs 371.45 on BSE, down 5.53 per cent from previous close.
- Telecom stocks: The Union cabinet cleared a proposal on Wednesday that had suggested allowing telcos to share spectrum in the same band in order to reduce call drops.
- DLF: DLF has raised Rs 1,000 crore through issuance of non-convertible debentures as part of its strategy to boost internal cash flows. Apart from this, the real-estate company is expected to announce its quarterly result today. Shares of the company closed at Rs 117.20, down by 5.71 per cent.
- IndusInd Bank:IndusInd Bank has raised Rs 5,081 crore by issuing six crore new shares via Qualified Institutional Placement (QIP) and preferential issuances. Shares of the bank closed at Rs 910.55 apiece, down 4.2 per cent on BSE.
- Nestle: The US health regulator USFDA said its tests have found the lead in the Maggi noodles within acceptable levels for US consumers. Shares of the company closed at Rs 6184.70 apiece, down 1.91 per cent on BSE.
Union cabinet clears spectrum sharing by telcos
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The Cabinet cleared a proposal on Wednesday that had suggested allowing telcos to share spectrum in the same band in order to reduce call drops. Telcos will now be able to share their unused spectrum thereby enhancing network quality and reducing operational costs. There was no decision on spectrum trading norms, which is expected to lead to greater consolidation in the sector.
"Fulfilling the government's commitment to improve spectral efficiency and quality of service, which is very essential to fulfil the dream of Digital India, the Union Cabinet... today gave its approval to the guidelines on spectrum sharing arising from the recommendations of the Telecom Regulatory Authority of India (Trai)," an official release said.
Spectrum sharing would be allowed only where both the licensees have spectrum in the same band and leasing of spectrum will not be permitted, the statement added. Besides, sharing may be permitted where both entities possess spectrum for which market price has been paid. Spectrum usage charge (SUC) will be levied on the entire spectrum holding in a particular band and all access spectrum, including traded spectrum, will be sharable.
According to the release, SUC rate of each of the licensees post-sharing shall increase by 0.5 per cent of aggregate gross revenue. However, in respect of spectrum in 800 MHz (CDMA) acquired in the auction held in March 2013, sharing of spectrum shall be permitted only if differential of latest auction price and March 2013 auction price on prorata basis on the balance period of right to use the spectrum is paid.
Sharing may be permitted where both sharing entities are having administratively allotted spectrum and where one entity has spectrum acquired through auction or liberalised spectrum and the other has spectrum allotted administratively, sharing shall be permitted only after spectrum charges are paid for liberalising the administratively allocated spectrum.
The Cabinet cleared a proposal on Wednesday that had suggested allowing telcos to share spectrum in the same band in order to reduce call drops. Telcos will now be able to share their unused spectrum thereby enhancing network quality and reducing operational costs. There was no decision on spectrum trading norms, which is expected to lead to greater consolidation in the sector.
"Fulfilling the government's commitment to improve spectral efficiency and quality of service, which is very essential to fulfil the dream of Digital India, the Union Cabinet... today gave its approval to the guidelines on spectrum sharing arising from the recommendations of the Telecom Regulatory Authority of India (Trai)," an official release said.
Spectrum sharing would be allowed only where both the licensees have spectrum in the same band and leasing of spectrum will not be permitted, the statement added. Besides, sharing may be permitted where both entities possess spectrum for which market price has been paid. Spectrum usage charge (SUC) will be levied on the entire spectrum holding in a particular band and all access spectrum, including traded spectrum, will be sharable.
According to the release, SUC rate of each of the licensees post-sharing shall increase by 0.5 per cent of aggregate gross revenue. However, in respect of spectrum in 800 MHz (CDMA) acquired in the auction held in March 2013, sharing of spectrum shall be permitted only if differential of latest auction price and March 2013 auction price on prorata basis on the balance period of right to use the spectrum is paid.
Sharing may be permitted where both sharing entities are having administratively allotted spectrum and where one entity has spectrum acquired through auction or liberalised spectrum and the other has spectrum allotted administratively, sharing shall be permitted only after spectrum charges are paid for liberalising the administratively allocated spectrum.
General Awareness
GOVT SCHEMES 2014-15: Miscelenous programmes Part 9
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Dear Readers & Aspirants, We collected Gov Schemes in Miscelenous programmes and make it in PDF format. We Hope it will definitely help you for your Exams.All the Best My Dear Aspirants & Readers.
- Modi Schemes: Banking & Insurance Part 1
- Modi Schemes: Agriculture & Irrigation – Part 2
- Modi Schemes: Technology Part 3
- Modi Schemes: Environmental and Health Part 4
- Modi Schemes: child and Women Empowerment Part 5
- Modi Schemes: Rural infrastructure Part 6
- Modi Schemes: Urban Infrastructure Part 7
- MODI schemes: Tourism & Pilgrimage Development and Augmentation Yojana Part 8
#1.Pandit deendayal upadhyay shramev yojana
The Prime Minister lauded the efforts of the Ministry of Labour and Employment in launching a series of schemes simultaneously, which took into account the interests of workers, as well as the employers. He said the
**Shram Suvidha Portal has simplified compliance of 16 labour laws, through a single online form.
He said the transparent Labour Inspection Scheme for random selection of units for inspection, would end undue harassment of the “Inspector Raj” while ensuring better compliance.
The Prime Minister expressed his concern that as much as Rs. 27,000 crore was lying unclaimed with the Employees Provident Fund Organization. He said this money belonged to poor workers of India, and the portability provided for Employees Provident Fund through the Universal Account Number would put an end to such money being locked up and not reaching the intended beneficiary.
The Prime Minister said the initiative of appointing National Brand Ambassadors of Vocational Training would instill pride and confidence in ITI students. The Prime Minister also honoured selected brand ambassadors.
The Apprentice Protsahan Yojana and the Effective Implementation of revamped Rashtriya Swasthya Bima Yojana (RSBY) for labour in the unorganized sector were also launched today.
The Prime Minister said the “Shramev Jayate” initiatives were an essential element of the “Make in India” vision, as they would pave the way for skill development of youth in a big way, and even create an opportunity for India to meet the global requirement of skilled labour workforce in the years ahead.
features
That would allot Labour Identification Number (LIN) to nearly 6 lakhs units and allow them to file online compliance for 16 out of 44 labour laws
- An all-new Random Inspection Scheme: Utilizing technology to eliminate human discretion in selection of units for Inspection, and uploading of Inspection Reports within 72 hours of inspection mandatory
- Universal Account Number: Enables 4.17 crore employees to have their Provident Fund account portable, hassle-free and universally accessible
- Apprentice Protsahan Yojana: Will support manufacturing units mainly and other establishments by reimbursing 50% of the stipend paid to apprentices during first two years of their training
- Revamped Rashtriya Swasthya Bima Yojana: Introducing a Smart Card for the workers in the unorganized sector seeded with details of two more social security schemes
#2.Deen dayal upadhyaya grameen kaushalya yojana
*Features _
- Enable Poor and Marginalized to Access Benefits
- Demand led skill training at no cost to the rural poor , Inclusive Program Design
- Mandatory coverage of socially disadvantaged groups (SC/ST 50%; Minority 15%; Women 33%)
- Shifting Emphasis from Training to Career Progression
- Pioneers in providing incentives for job retention, career progression and foreign placements
- Greater Support for Placed Candidates
- Proactive Approach to Build Placement Partnerships
- Enhancing the Capacity of Implementation Partners
Regional Focus_
- Greater emphasis on projects for poor rural youth in Jammu and Kashmir (HIMAYAT),
- The North-East region and 27 Left-Wing Extremist (LWE) districts (ROSHINI)
- All program activities are subject to Standard Operating Procedures that are not open to interpretation by local inspectors. All inspections are supported by geo-tagged, time stamped videos/photographs
#3.PAHAL scheme _ Pratyaksh Hanstantrit Labh _ LPG debt scheme
- The Direct Benefit transfer of LPG (DBTL) scheme PAHAL (Pratyaksh Hanstantrit Labh) has been re-launched in 54 districts on 15 November 2014 in the 1st Phase and will be launched in the rest of the 622 districts of the country on 1 January 2015.
- Consumers who wish to join the scheme will have to either link their Aadhaar number into their bank account and their LPG consumer or if they do not possess Aadhaar number, they will have to link their bank account directly with their 17 digit LPG Id. Once a Consumer joins the scheme, he will get the cylinders at market price and will receive LPG subsidy directly in his bank account. A sum of Rs.568 will be paid in advance to the consumer, in the bank account, who now joins the scheme, as soon as he makes the first booking for a cylinder after joining the scheme to ensure that he has extra money required to pay for the first LPG cylinder at market price. This is in addition to subsidy that is paid on each cylinder. Camps are being set up at various banks, and LPG distributor’s premises to enable LPG consumers to open bank account and enroll for Aadhaar if they need to do so to join the scheme.
- To keep consumers informed about their status in the scheme, consumers will receive SMS at every stage in the scheme. To avail of this feature all LPG consumers are requested to register their mobile number with their distributor if they have not done so. They are also advised to receive cylinders only with cash memos to be assured of their subsidy transfer.
- The scheme will cover over 15.3 crore consumers across 676 districts of the country. Currently over 6.5 crore consumers i.e. 43% have already joined the scheme and will receive subsidy in their bank account.
- DBTL is designed to ensure that the benefit meant for the genuine domestic customer reaches them directly and is not diverted. By this process public money will be saved. All LPG customers are requested to immediately join the scheme as above.
- All LPG consumers who are yet to join the scheme must do so quickly. Those who do not have bank accounts must first open bank accounts and then submit the required details to their LPG distributor/Bank for becoming cash transfer compliant.
- As on 30 December 2014, an amount of Rs.624 crore has been transferred to over 20 Lakh LPG consumers since the launch of the scheme on 15th November 2014.
- LPG consumers who do not wish to avail the LPG subsidy for LPG cylinders can simply choose to opt out of subsidy. Over 12000 citizens have already voluntarily given up subsidy freeing up crores of subsidy amount for their less privileged brethren.
#4.MAHATMA GANDHI PRAVASI SURAKSHA YOJANA (MGPSY)
Ministry of Overseas Indian Affairs has introduced a Pension and Life Insurance fund scheme called Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) for the Overseas Indian workers having Emigration Check Required (ECR) passports.
Objective
objective of MGPSY is to encourage and enable the overseas Indian workers by giving government contribution to:
- Save for their Return and Resettlement (R&R)
- Save for their old age,
- Obtain a Life Insurance cover against natural death during the period of coverage.
- The government contribution available under the MGPSY is for a period of five years or till the return of subscribed worker back to India, whichever is earlier.
The main attractions of MGPSY are:
- Government contribution of Rs.1,000 per annum in line with Swavalamban platform for all MGPSY subscriber who save between Rs.1,000 and Rs.12,000 per year in NPS-Lite.
- An additional government contribution of Rs.1,000 per annum by MOIA for the overseas Indian women workers who save between Rs.1,000 to Rs.12,000 per year in NPS-Lite.
- A special government contribution of Rs.900 by MOIA towards Return and Resettlement (R&R) of the overseas Indian workers who save Rs.4,000 or more per annum.
- Dear Readers & Aspirants, We collected Gov Schemes in Miscelenous programmes and make it in PDF format. We Hope it will definitely help you for your Exams.All the Best My Dear Aspirants & Readers.
- Modi Schemes: Banking & Insurance Part 1
- Modi Schemes: Agriculture & Irrigation – Part 2
- Modi Schemes: Technology Part 3
- Modi Schemes: Environmental and Health Part 4
- Modi Schemes: child and Women Empowerment Part 5
- Modi Schemes: Rural infrastructure Part 6
- Modi Schemes: Urban Infrastructure Part 7
- MODI schemes: Tourism & Pilgrimage Development and Augmentation Yojana Part 8
#1.Pandit deendayal upadhyay shramev yojanaThe Prime Minister lauded the efforts of the Ministry of Labour and Employment in launching a series of schemes simultaneously, which took into account the interests of workers, as well as the employers. He said the**Shram Suvidha Portal has simplified compliance of 16 labour laws, through a single online form.He said the transparent Labour Inspection Scheme for random selection of units for inspection, would end undue harassment of the “Inspector Raj” while ensuring better compliance.The Prime Minister expressed his concern that as much as Rs. 27,000 crore was lying unclaimed with the Employees Provident Fund Organization. He said this money belonged to poor workers of India, and the portability provided for Employees Provident Fund through the Universal Account Number would put an end to such money being locked up and not reaching the intended beneficiary.The Prime Minister said the initiative of appointing National Brand Ambassadors of Vocational Training would instill pride and confidence in ITI students. The Prime Minister also honoured selected brand ambassadors.The Apprentice Protsahan Yojana and the Effective Implementation of revamped Rashtriya Swasthya Bima Yojana (RSBY) for labour in the unorganized sector were also launched today.The Prime Minister said the “Shramev Jayate” initiatives were an essential element of the “Make in India” vision, as they would pave the way for skill development of youth in a big way, and even create an opportunity for India to meet the global requirement of skilled labour workforce in the years ahead.featuresThat would allot Labour Identification Number (LIN) to nearly 6 lakhs units and allow them to file online compliance for 16 out of 44 labour laws- An all-new Random Inspection Scheme: Utilizing technology to eliminate human discretion in selection of units for Inspection, and uploading of Inspection Reports within 72 hours of inspection mandatory
- Universal Account Number: Enables 4.17 crore employees to have their Provident Fund account portable, hassle-free and universally accessible
- Apprentice Protsahan Yojana: Will support manufacturing units mainly and other establishments by reimbursing 50% of the stipend paid to apprentices during first two years of their training
- Revamped Rashtriya Swasthya Bima Yojana: Introducing a Smart Card for the workers in the unorganized sector seeded with details of two more social security schemes
#2.Deen dayal upadhyaya grameen kaushalya yojana*Features _- Enable Poor and Marginalized to Access Benefits
- Demand led skill training at no cost to the rural poor , Inclusive Program Design
- Mandatory coverage of socially disadvantaged groups (SC/ST 50%; Minority 15%; Women 33%)
- Shifting Emphasis from Training to Career Progression
- Pioneers in providing incentives for job retention, career progression and foreign placements
- Greater Support for Placed Candidates
- Proactive Approach to Build Placement Partnerships
- Enhancing the Capacity of Implementation Partners
Regional Focus_- Greater emphasis on projects for poor rural youth in Jammu and Kashmir (HIMAYAT),
- The North-East region and 27 Left-Wing Extremist (LWE) districts (ROSHINI)
- All program activities are subject to Standard Operating Procedures that are not open to interpretation by local inspectors. All inspections are supported by geo-tagged, time stamped videos/photographs
#3.PAHAL scheme _ Pratyaksh Hanstantrit Labh _ LPG debt scheme- The Direct Benefit transfer of LPG (DBTL) scheme PAHAL (Pratyaksh Hanstantrit Labh) has been re-launched in 54 districts on 15 November 2014 in the 1st Phase and will be launched in the rest of the 622 districts of the country on 1 January 2015.
- Consumers who wish to join the scheme will have to either link their Aadhaar number into their bank account and their LPG consumer or if they do not possess Aadhaar number, they will have to link their bank account directly with their 17 digit LPG Id. Once a Consumer joins the scheme, he will get the cylinders at market price and will receive LPG subsidy directly in his bank account. A sum of Rs.568 will be paid in advance to the consumer, in the bank account, who now joins the scheme, as soon as he makes the first booking for a cylinder after joining the scheme to ensure that he has extra money required to pay for the first LPG cylinder at market price. This is in addition to subsidy that is paid on each cylinder. Camps are being set up at various banks, and LPG distributor’s premises to enable LPG consumers to open bank account and enroll for Aadhaar if they need to do so to join the scheme.
- To keep consumers informed about their status in the scheme, consumers will receive SMS at every stage in the scheme. To avail of this feature all LPG consumers are requested to register their mobile number with their distributor if they have not done so. They are also advised to receive cylinders only with cash memos to be assured of their subsidy transfer.
- The scheme will cover over 15.3 crore consumers across 676 districts of the country. Currently over 6.5 crore consumers i.e. 43% have already joined the scheme and will receive subsidy in their bank account.
- DBTL is designed to ensure that the benefit meant for the genuine domestic customer reaches them directly and is not diverted. By this process public money will be saved. All LPG customers are requested to immediately join the scheme as above.
- All LPG consumers who are yet to join the scheme must do so quickly. Those who do not have bank accounts must first open bank accounts and then submit the required details to their LPG distributor/Bank for becoming cash transfer compliant.
- As on 30 December 2014, an amount of Rs.624 crore has been transferred to over 20 Lakh LPG consumers since the launch of the scheme on 15th November 2014.
- LPG consumers who do not wish to avail the LPG subsidy for LPG cylinders can simply choose to opt out of subsidy. Over 12000 citizens have already voluntarily given up subsidy freeing up crores of subsidy amount for their less privileged brethren.
#4.MAHATMA GANDHI PRAVASI SURAKSHA YOJANA (MGPSY)Ministry of Overseas Indian Affairs has introduced a Pension and Life Insurance fund scheme called Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) for the Overseas Indian workers having Emigration Check Required (ECR) passports.Objectiveobjective of MGPSY is to encourage and enable the overseas Indian workers by giving government contribution to:- Save for their Return and Resettlement (R&R)
- Save for their old age,
- Obtain a Life Insurance cover against natural death during the period of coverage.
- The government contribution available under the MGPSY is for a period of five years or till the return of subscribed worker back to India, whichever is earlier.
The main attractions of MGPSY are:- Government contribution of Rs.1,000 per annum in line with Swavalamban platform for all MGPSY subscriber who save between Rs.1,000 and Rs.12,000 per year in NPS-Lite.
- An additional government contribution of Rs.1,000 per annum by MOIA for the overseas Indian women workers who save between Rs.1,000 to Rs.12,000 per year in NPS-Lite.
- A special government contribution of Rs.900 by MOIA towards Return and Resettlement (R&R) of the overseas Indian workers who save Rs.4,000 or more per annum.
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