General Affairs
India to Check Illegal Mining Through Satellites
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BENGALURU: India would soon use indigenous space technology to check illegal mining and guard its mineral wealth using satellite imagery, a top official said today.
"We are in talks with the Indian space agency to use its earth-observation and remote sensing satellites for tracking illegal mining activity and guard the rich mineral assets in the country," Mines Secretary Balwinder Kumar said at a trade event in Bengaluru.
The Indian Bureau of Mines (IBM) will soon sign an agreement with the Indian Space Research Organisation (ISRO) to utilise its space applications for monitoring mining activity and study its impact to protect the environment.
"We are meeting ISRO officials on October 1 in New Delhi to work out modalities, as arrangements are in place to use space technology to regulate mining activity," Mr Kumar said.
As a watchdog, IBM regulates scientific development of mineral resources and protects environment of mines other than coal, petroleum and natural gas, atomic minerals and minor minerals.
Rampant illegal mining in Karnataka and Goa led to closure of iron ore mines and judicial intervention by the Supreme Court, leading to the setting up of an empowered committee to regulate and monitor mining activity under rehabilitation and resettlement system.
Prime Minister Narendra Modi on September 7 directed various ministries to make use of space-based technology in collaboration with ISRO for the common good of all.
The city-based space agency will enhance its satellite capacity to meet the needs of the mining sector in coordination with the respective states.
Mr Kumar was in Bengaluru to participate in the inaugural event of the three-day annual Mining, Exploration Convention and Trade Show, organised by the Federation of Indian Mineral Industries (FIMI) in association with the Mines Ministry, at the Bangalore International Exhibition Centre.
BENGALURU: India would soon use indigenous space technology to check illegal mining and guard its mineral wealth using satellite imagery, a top official said today."We are in talks with the Indian space agency to use its earth-observation and remote sensing satellites for tracking illegal mining activity and guard the rich mineral assets in the country," Mines Secretary Balwinder Kumar said at a trade event in Bengaluru.
The Indian Bureau of Mines (IBM) will soon sign an agreement with the Indian Space Research Organisation (ISRO) to utilise its space applications for monitoring mining activity and study its impact to protect the environment.
"We are meeting ISRO officials on October 1 in New Delhi to work out modalities, as arrangements are in place to use space technology to regulate mining activity," Mr Kumar said.
As a watchdog, IBM regulates scientific development of mineral resources and protects environment of mines other than coal, petroleum and natural gas, atomic minerals and minor minerals.
Rampant illegal mining in Karnataka and Goa led to closure of iron ore mines and judicial intervention by the Supreme Court, leading to the setting up of an empowered committee to regulate and monitor mining activity under rehabilitation and resettlement system.
Prime Minister Narendra Modi on September 7 directed various ministries to make use of space-based technology in collaboration with ISRO for the common good of all.
The city-based space agency will enhance its satellite capacity to meet the needs of the mining sector in coordination with the respective states.
Mr Kumar was in Bengaluru to participate in the inaugural event of the three-day annual Mining, Exploration Convention and Trade Show, organised by the Federation of Indian Mineral Industries (FIMI) in association with the Mines Ministry, at the Bangalore International Exhibition Centre.
India's 100 Richest Includes Only 4 Women
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SINGAPORE: Four women feature in this year's Forbes list of 100 richest Indians including O P Jindal group Chairperson Savitri Jindal and generic drugs maker USV Pharma Chairperson Leena Tewari.
Wife of Havells founder, Vinod Gupta and Indu Jain of Bennett, Coleman & Co are the other two women in the list.
The four women have a collective wealth of USD 9.2 billion and account for nearly three per cent of the total networth of all in the coveted list whose collective wealth amount to USD 345 billion.
Mr Jindal has retained the tag of being the richest woman in India with a networth of USD 3.8 billion, according to the annual India rich list compiled by business magazine Forbes.
"After recovering last year, Savitri Jindal's O P Jindal group, which she chairs, saw its fortunes decline, mostly from a sharp fall in shares of Jindal Steel & Power, run by younger son Naveen. The company shut down operations at its Australian mine, citing mounting losses," Forbes said.
Mr Jindal is ranked 23rd on the list which was topped by Mukesh Ambani for the ninth year in a row with a net worth of USD 18.9 billion.
Among the four women on the list, Mr Jindal was followed by newcomer Leena Tewari who chairs privately held generics maker USV Pharma, ranked 54th on the list.
On USV Pharma, Forbes said "the firm has its roots in a small venture started by her grandfather, Vithal Balkrishna Gandhi, a noted social reformer and politician, to import medicines. It expanded into manufacturing in a joint venture with an American company in 1961."
Indu Jain of Bennett, Coleman & Co was ranked 57th on the list with a networth of USD 1.9 billion.
Vinod Gupta, wife of Qimat Rai Gupta, who died in November 2014, appears on the list after inheriting her husband's shares in electrical fittings maker Havells India, though she doesn't hold an executive or board position. Gupta was ranked 74th on the list.
"Her husband founded the company in 1971 as an electrical trading business in Delhi. The USD 1.4 billion (revenues) Havells, which makes cables, fans and wires, is run by son Anil, the youngest of her 3 children. Fortune includes stake held by brother and nephew," Forbes said.
SINGAPORE: Four women feature in this year's Forbes list of 100 richest Indians including O P Jindal group Chairperson Savitri Jindal and generic drugs maker USV Pharma Chairperson Leena Tewari.Wife of Havells founder, Vinod Gupta and Indu Jain of Bennett, Coleman & Co are the other two women in the list.
The four women have a collective wealth of USD 9.2 billion and account for nearly three per cent of the total networth of all in the coveted list whose collective wealth amount to USD 345 billion.
Mr Jindal has retained the tag of being the richest woman in India with a networth of USD 3.8 billion, according to the annual India rich list compiled by business magazine Forbes.
Mr Jindal is ranked 23rd on the list which was topped by Mukesh Ambani for the ninth year in a row with a net worth of USD 18.9 billion.
Among the four women on the list, Mr Jindal was followed by newcomer Leena Tewari who chairs privately held generics maker USV Pharma, ranked 54th on the list.
On USV Pharma, Forbes said "the firm has its roots in a small venture started by her grandfather, Vithal Balkrishna Gandhi, a noted social reformer and politician, to import medicines. It expanded into manufacturing in a joint venture with an American company in 1961."
Indu Jain of Bennett, Coleman & Co was ranked 57th on the list with a networth of USD 1.9 billion.
Vinod Gupta, wife of Qimat Rai Gupta, who died in November 2014, appears on the list after inheriting her husband's shares in electrical fittings maker Havells India, though she doesn't hold an executive or board position. Gupta was ranked 74th on the list.
"Her husband founded the company in 1971 as an electrical trading business in Delhi. The USD 1.4 billion (revenues) Havells, which makes cables, fans and wires, is run by son Anil, the youngest of her 3 children. Fortune includes stake held by brother and nephew," Forbes said.
40 Minutes, 3 Pages: Court Makes Hardik Patel Write Down His Allegations
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AHMEDABAD: Hardik Patel appeared today in the Gujarat High Court, which asked him to detail in writing his allegations of being abducted and illegally detained by the state police. For about 40 minutes, the 22-year-old politician sat in court and wrote on three sheets of paper, which then were ordered to be kept in sealed cover by the court.
Observing that the allegations of Hardik being in illegal custody prima facie seem "unsatisfactory," the court has also asked Mr Patel's lawyer B Mangukya to substantiate on September 29, such allegations in his petition to the court two days ago. Hardik Patel must be present in court that day, it said.
In the meantime, the court has said, the state police can proceed in the cases it has registered against Hardik Patel for defying prohibitory orders while holding a rally in north Gujarat. However, police sources revealed that his arrest was unlikely at least till Tuesday when the High Court continues hearing in the case.
On Mr Mangukya's panicked petition that Hardik was missing and had been picked up by the police, the court had at 2.30 am on Wednesday issued orders to the state government to produce him by today.
But Hardik Patel surfaced on Wednesday in Viramgam, about 60 km from Ahmedabad and held a press conference, where he alleged that armed men had abducted him from a village in north Gujarat on Tuesday and held him captive overnight in a car.
He also alleged that they threatened him to call off his agitation for reservation in government jobs and colleges for the Patel community. Hardik Patel is the face of that massive agitation.
The state police has denied detaining Mr Patel. It has said that Mr Patel had fled in a vehicle on Tuesday when they tried to detain him for holding a large public meeting in the north Gujarat village without permission. Mr Patel had addressed a crowd of about 2000 to 3000 people.
The police arrested 13 of his associates.
When Hardik Patel was briefly detained after a massive rally in Ahmedabad last month, there was violence in many of Gujarat's cities.
He was arrested on Saturday last, after he attempted to hold a protest rally in Surat for which he did not have permission.
AHMEDABAD: Hardik Patel appeared today in the Gujarat High Court, which asked him to detail in writing his allegations of being abducted and illegally detained by the state police. For about 40 minutes, the 22-year-old politician sat in court and wrote on three sheets of paper, which then were ordered to be kept in sealed cover by the court.Observing that the allegations of Hardik being in illegal custody prima facie seem "unsatisfactory," the court has also asked Mr Patel's lawyer B Mangukya to substantiate on September 29, such allegations in his petition to the court two days ago. Hardik Patel must be present in court that day, it said.
In the meantime, the court has said, the state police can proceed in the cases it has registered against Hardik Patel for defying prohibitory orders while holding a rally in north Gujarat. However, police sources revealed that his arrest was unlikely at least till Tuesday when the High Court continues hearing in the case.
But Hardik Patel surfaced on Wednesday in Viramgam, about 60 km from Ahmedabad and held a press conference, where he alleged that armed men had abducted him from a village in north Gujarat on Tuesday and held him captive overnight in a car.
He also alleged that they threatened him to call off his agitation for reservation in government jobs and colleges for the Patel community. Hardik Patel is the face of that massive agitation.
The state police has denied detaining Mr Patel. It has said that Mr Patel had fled in a vehicle on Tuesday when they tried to detain him for holding a large public meeting in the north Gujarat village without permission. Mr Patel had addressed a crowd of about 2000 to 3000 people.
The police arrested 13 of his associates.
When Hardik Patel was briefly detained after a massive rally in Ahmedabad last month, there was violence in many of Gujarat's cities.
He was arrested on Saturday last, after he attempted to hold a protest rally in Surat for which he did not have permission.
On Its First Birthday, Mangalyaan Flaunts Stunning Images of Mars
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NEW DELHI: Mangalyaan, India's maiden mission to Mars, completed a year in space today and as part of the first anniversary celebrations, the Indian Space Research Organisation (ISRO) has launched a 'Mars Atlas' in Bengaluru. The Mars Orbiter Mission (MOM) has sent back some stunning images of the Red Planet including the best collection of the full disc of Mars and charted the highest volcanoes and deepest valleys of the Solar System.
Over 100 images from a collection of 350 acquired by the Mars Colour Camera on the spacecraft have been compiled in a form of a scientific atlas.
The atlas contains over 100 images.
These images and the data sent by the mission will help to unlock the mystery of the Red Planet.
According to the ISRO, "the knowledge acquired by the analysis of the data suggests enhanced possibility of the presence of life on this now dry and dusty planet."
This possibly refers to the Mangalyaan recording signals of the presence of methane gas in the Martian atmosphere.
The signals still need to be scientifically validated and hence we will have to wait for final confirmation if India's low cost mission will rewrite history of life as we know it in the universe.
According to ISRO Chairman AS Kiran Kumar, the space organization will also release a book 'Fishing hamlet to Mars' on November 5.
"Mars (mission) is expected to last for many years now, because it has gone through solar conjunction also; so we don't see much of a problem," Mr Kumar added.
Scripting space history, India on September 24, 2014, had successfully placed its low-cost Mars spacecraft in orbit around the Red Planet on its very first attempt, breaking into an elite club of three nations.
NEW DELHI: Mangalyaan, India's maiden mission to Mars, completed a year in space today and as part of the first anniversary celebrations, the Indian Space Research Organisation (ISRO) has launched a 'Mars Atlas' in Bengaluru. The Mars Orbiter Mission (MOM) has sent back some stunning images of the Red Planet including the best collection of the full disc of Mars and charted the highest volcanoes and deepest valleys of the Solar System.
The atlas contains over 100 images.
According to the ISRO, "the knowledge acquired by the analysis of the data suggests enhanced possibility of the presence of life on this now dry and dusty planet."
This possibly refers to the Mangalyaan recording signals of the presence of methane gas in the Martian atmosphere.
The signals still need to be scientifically validated and hence we will have to wait for final confirmation if India's low cost mission will rewrite history of life as we know it in the universe.
According to ISRO Chairman AS Kiran Kumar, the space organization will also release a book 'Fishing hamlet to Mars' on November 5.
"Mars (mission) is expected to last for many years now, because it has gone through solar conjunction also; so we don't see much of a problem," Mr Kumar added.
Scripting space history, India on September 24, 2014, had successfully placed its low-cost Mars spacecraft in orbit around the Red Planet on its very first attempt, breaking into an elite club of three nations.
China to Host ASEAN Defence Ministers Amid South China Sea Tension
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BEIJING: China said today it will host defence ministers from the Association of South East Asian Nations (ASEAN) next month, amid tension between some of its members and China over the disputed South China Sea.
The October 15-16 informal summit will take place in Beijing and China has invited the defence ministers of all 10 members, Chinese Defence Ministry spokesman Wu Qian told a regular monthly news briefing.
Chinese Defence Minister Chang Wanquan will have a "deep exchange of views" with participants, he added, without elaborating.
China has overlapping claims with Vietnam, the Philippines, Malaysia, Taiwan and Brunei in the South China Sea, through which $5 trillion in ship-borne trade passes every year.
China's increasingly assertive moves to press its sovereignty claims have rattled its neighbours and aroused concern in the United States, though China says it has no hostile intent.
A US expert said this month, citing satellite photographs, China appeared to be carrying out preparatory work for a third airstrip in contested territory in the South China Sea.
Wu declined to comment when asked whether China was indeed building a third airstrip, repeating the government's standard line that its construction work in the South China Sea was to satisfy "necessary defence needs".
China stepped up creation of artificial islands in the South China Sea last year, drawing strong criticism from Washington.
BEIJING: China said today it will host defence ministers from the Association of South East Asian Nations (ASEAN) next month, amid tension between some of its members and China over the disputed South China Sea.The October 15-16 informal summit will take place in Beijing and China has invited the defence ministers of all 10 members, Chinese Defence Ministry spokesman Wu Qian told a regular monthly news briefing.
Chinese Defence Minister Chang Wanquan will have a "deep exchange of views" with participants, he added, without elaborating.
China's increasingly assertive moves to press its sovereignty claims have rattled its neighbours and aroused concern in the United States, though China says it has no hostile intent.
A US expert said this month, citing satellite photographs, China appeared to be carrying out preparatory work for a third airstrip in contested territory in the South China Sea.
Wu declined to comment when asked whether China was indeed building a third airstrip, repeating the government's standard line that its construction work in the South China Sea was to satisfy "necessary defence needs".
China stepped up creation of artificial islands in the South China Sea last year, drawing strong criticism from Washington.
Business Affairs
Sensex falls over 80 pts on derivatives expiry, weak global cues
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The benchmark Bombay Stock Exchange (BSE) Sensex fell over 100 points in early trade as participants cut down bets in view of the September series expiry in the derivatives segment amid a sluggish global trend.
The 30-share barometer, which had gained 171.15 points on Wednesday, fell 100.98 points, or 0.39 per cent, to 25,722.01, with capital goods, metal, power and oil & gas sector stocks contributing to the fall in a big way.
Also, the National Stock Exchange (NSE) Nifty declined 15.20 points, or 0.19 per cent, to 7,830.75.
Brokers said squaring-up of positions by participants with today being the last trading session of the September derivatives expiry and a weak trend at other Asian bourses following overnight losses on the Wall Street as weak Chinese and US factory data added to growth worries dampened sentiment.
Hong Kong's Hang Seng was down 1.03 per cent. Japan's Nikkei, which opened after a long weekend, plunged 2.34 per cent while Shanghai Composite rose 0.18 per cent in early trade today.
The Dow Jones Industrial Average ended 0.31 per cent lower in Wednesday's trade.
The benchmark Bombay Stock Exchange (BSE) Sensex fell over 100 points in early trade as participants cut down bets in view of the September series expiry in the derivatives segment amid a sluggish global trend.
The 30-share barometer, which had gained 171.15 points on Wednesday, fell 100.98 points, or 0.39 per cent, to 25,722.01, with capital goods, metal, power and oil & gas sector stocks contributing to the fall in a big way.
Also, the National Stock Exchange (NSE) Nifty declined 15.20 points, or 0.19 per cent, to 7,830.75.
Brokers said squaring-up of positions by participants with today being the last trading session of the September derivatives expiry and a weak trend at other Asian bourses following overnight losses on the Wall Street as weak Chinese and US factory data added to growth worries dampened sentiment.
Hong Kong's Hang Seng was down 1.03 per cent. Japan's Nikkei, which opened after a long weekend, plunged 2.34 per cent while Shanghai Composite rose 0.18 per cent in early trade today.
The Dow Jones Industrial Average ended 0.31 per cent lower in Wednesday's trade.
PM Narendra Modi's US trip gives tech giants chance to press on growth
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Prime Minister Narendra Modi's trip this weekend to Silicon Valley gives Facebook and Google the chance to press him on issues that have bedevilled them in India, a market they see as vital to their aggressive global expansion.
Among their concerns are unreliable electricity, slow Internet speeds and an education system that does not produce the engineers they need.
For Facebook and Google, India is a crucial market. With 1.3 billion people, it is the world's second most-populous country - and they are blocked from China, the most populous, making success in India even more critical for their global growth.
For well-travelled Modi, the first trip to the US West Coast by an Indian leader in more than 30 years is a chance to get help on his top policy initiatives, including "Digital India," which aims to connect thousands more Indian villages to the Internet and create more tech jobs.
"I've been in the Valley for two decades, and I've never seen Indian policy or leadership have a deep engagement with the Valley" until now, said Punit Soni, chief product officer for Flipkart, India's largest e-commerce company and a former Google executive.
Facebook and Google executives were scheduled to travel to Seattle for a visit this week by Chinese President Xi Jingping, but sources close to the companies told Reuters they would not be meeting with him one on one.
In contrast, Modi is visiting Google's campus and will hold a town hall with Facebook CEO Mark Zuckerberg. Both Facebook and Google declined to comment ahead of Modi's visit.
Modi clearly understands the power of social media: His more than 30 million "likes" on his Facebook page and 15 million Twitter followers make him the second most-followed political leader after US President Barack Obama.
Modi is eager to bring jobs to India for the 1 million Indians entering the job market each year, foreign policy experts said. India needs to maintain GDP growth of 9 per cent a year to provide them all jobs, but the rate is currently hovering at about 7 per cent. He sees technology as vital to increasing that rate.
Facebook and Google have added staff in India over the past five years - although neither breaks out staff numbers by region - but Modi will likely press for even more, seeking deals for them to build research and development centres in India and for the companies to employ more local Indians.
"(Modi's) top programs ... are based on the idea that international companies will invest money and bring in technological know-how to build out the infrastructure - digital and otherwise - that India needs," said Mukesh Aghi, president of the US-Indian Business Council.
Prime Minister Narendra Modi's trip this weekend to Silicon Valley gives Facebook and Google the chance to press him on issues that have bedevilled them in India, a market they see as vital to their aggressive global expansion.
Among their concerns are unreliable electricity, slow Internet speeds and an education system that does not produce the engineers they need.
For Facebook and Google, India is a crucial market. With 1.3 billion people, it is the world's second most-populous country - and they are blocked from China, the most populous, making success in India even more critical for their global growth.
For well-travelled Modi, the first trip to the US West Coast by an Indian leader in more than 30 years is a chance to get help on his top policy initiatives, including "Digital India," which aims to connect thousands more Indian villages to the Internet and create more tech jobs.
"I've been in the Valley for two decades, and I've never seen Indian policy or leadership have a deep engagement with the Valley" until now, said Punit Soni, chief product officer for Flipkart, India's largest e-commerce company and a former Google executive.
Facebook and Google executives were scheduled to travel to Seattle for a visit this week by Chinese President Xi Jingping, but sources close to the companies told Reuters they would not be meeting with him one on one.
In contrast, Modi is visiting Google's campus and will hold a town hall with Facebook CEO Mark Zuckerberg. Both Facebook and Google declined to comment ahead of Modi's visit.
Modi clearly understands the power of social media: His more than 30 million "likes" on his Facebook page and 15 million Twitter followers make him the second most-followed political leader after US President Barack Obama.
Modi is eager to bring jobs to India for the 1 million Indians entering the job market each year, foreign policy experts said. India needs to maintain GDP growth of 9 per cent a year to provide them all jobs, but the rate is currently hovering at about 7 per cent. He sees technology as vital to increasing that rate.
Facebook and Google have added staff in India over the past five years - although neither breaks out staff numbers by region - but Modi will likely press for even more, seeking deals for them to build research and development centres in India and for the companies to employ more local Indians.
"(Modi's) top programs ... are based on the idea that international companies will invest money and bring in technological know-how to build out the infrastructure - digital and otherwise - that India needs," said Mukesh Aghi, president of the US-Indian Business Council.
Govt in talks with World Bank for funding of smart cities, AMRUT plan
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The World Bank is in talks with the government to provide some initial funding for the latter's smart cities programme and the Amrut initiative for urban revitalisation.
"The World Bank is in discussions with the government to provide some funding in the initial stages for the smart cities and Amrut (Atal Mission for Rejuvenation and Urban Transformation) programmes," the bank's country director Onno Ruhl told reporters here on Thursday.
He was speaking at the launch of a World Bank report on urbanisation, titled "Leveraging Urbanisation in South Asia: Managing Spatial Transformation for Prosperity and Livability", released by Sri Mulyani Indrawati, visiting World Bank managing director and chief operations officer.
"India's urbanisation drive will be the biggest of its kind in the next 30 years. The government's implementing of the 14th Finance Commission recommendations will help in devolving finances to states for the programme," Ruhl said.
The report says, South Asia's urban population grew by 130 million between 2000-11, and is poised to rise by almost 250 million by 2030.
"Cities in South Asia are not fulfilling their potential for transforming their economies, putting enormous demands on their infrastructure, as in Mumbai which I just visited," Indrawati said.
"The World Bank can help by citing examples of cities dealing successfully with various issues, to provide clarity and accountability," she added.
The report says policymakers must address three "fundamental urban governance deficits" by way of empowering urban governments, providing them adequate resources and strengthening mechanisms to hold them accountable.
The World Bank is in talks with the government to provide some initial funding for the latter's smart cities programme and the Amrut initiative for urban revitalisation.
"The World Bank is in discussions with the government to provide some funding in the initial stages for the smart cities and Amrut (Atal Mission for Rejuvenation and Urban Transformation) programmes," the bank's country director Onno Ruhl told reporters here on Thursday.
He was speaking at the launch of a World Bank report on urbanisation, titled "Leveraging Urbanisation in South Asia: Managing Spatial Transformation for Prosperity and Livability", released by Sri Mulyani Indrawati, visiting World Bank managing director and chief operations officer.
"India's urbanisation drive will be the biggest of its kind in the next 30 years. The government's implementing of the 14th Finance Commission recommendations will help in devolving finances to states for the programme," Ruhl said.
The report says, South Asia's urban population grew by 130 million between 2000-11, and is poised to rise by almost 250 million by 2030.
"Cities in South Asia are not fulfilling their potential for transforming their economies, putting enormous demands on their infrastructure, as in Mumbai which I just visited," Indrawati said.
"The World Bank can help by citing examples of cities dealing successfully with various issues, to provide clarity and accountability," she added.
The report says policymakers must address three "fundamental urban governance deficits" by way of empowering urban governments, providing them adequate resources and strengthening mechanisms to hold them accountable.
India seeks LNG price cut from Qatar as gas prices cool
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India is seeking from its largest liquefied natural gas (LNG) supplier Qatar a cut in gas prices to match the 60 per cent slump in global rates in the last one year.
India buys 7.5 million tonnes of LNG a year on a long-term 25 year contract, indexed to a moving average of crude oil price. The price of LNG from Qatar comes close to $13 per million British thermal unit as compared to the $6-7 rate at which it is available in the spot or current market.
"Petronet LNG Ltd is working to mitigate the impact of the higher prices under the long-term contracts so as to bring the LNG prices more in line with the current market conditions," Oil Secretary Kapil Dev Tripathi said here. Tripathi, who is also the chairman of Petronet, said the prices of LNG in the spot or current markets have come down considerably in the past one year.
"While this is good for the consumers, this has also created a disparity in the prices of LNG under the long-term contracts vs the spot prices," he said while addressing Petronet's 17th annual general meeting (AGM). The high price of LNG under the long-term contract has led to users in fertiliser and power industry finding it cheaper to use alternate fuels like naphtha and fuel oil.
Petronet LNG Ltd, which has been buying LNG from Qatar on a long-term contract since 2004, has reduced the annual offtake by at least 30 per cent this year because of the high price. Tripathi said international oil and gas markets have been facing a challenging environment for the past many months due to the sudden and sharp collapse in oil prices. "Although various factors have contributed to this volatility, the emergence of the USA as a large producer of shale oil and shale gas has been the primary reason for the abundance of oil and gas, resulting in reduced imports into the USA," he said.
"This, coupled with the start in production of various LNG projects, has increased the availability of LNG around the world," he said. India, he said, is the fourth largest importer of LNG in the world. "A total of about 14 million tons per annum of LNG is imported into India currently and almost 80 per cent of these imports come to Petronet's two terminals (at Dahej in Gujarat and Kochi in Kerala)," he said. While Qatar has been the largest supplier of LNG to India for the past many years, various other countries are now selling LNG to India. "This helps the country diversify its sources of imports," he said.
Tripathi said Dahej capacity will be raised by 50 per cent to 15 million tons by December 2016 and a further expansion to 17.5 million tons is planned.
India is seeking from its largest liquefied natural gas (LNG) supplier Qatar a cut in gas prices to match the 60 per cent slump in global rates in the last one year.
India buys 7.5 million tonnes of LNG a year on a long-term 25 year contract, indexed to a moving average of crude oil price. The price of LNG from Qatar comes close to $13 per million British thermal unit as compared to the $6-7 rate at which it is available in the spot or current market.
"Petronet LNG Ltd is working to mitigate the impact of the higher prices under the long-term contracts so as to bring the LNG prices more in line with the current market conditions," Oil Secretary Kapil Dev Tripathi said here. Tripathi, who is also the chairman of Petronet, said the prices of LNG in the spot or current markets have come down considerably in the past one year.
"While this is good for the consumers, this has also created a disparity in the prices of LNG under the long-term contracts vs the spot prices," he said while addressing Petronet's 17th annual general meeting (AGM). The high price of LNG under the long-term contract has led to users in fertiliser and power industry finding it cheaper to use alternate fuels like naphtha and fuel oil.
Petronet LNG Ltd, which has been buying LNG from Qatar on a long-term contract since 2004, has reduced the annual offtake by at least 30 per cent this year because of the high price. Tripathi said international oil and gas markets have been facing a challenging environment for the past many months due to the sudden and sharp collapse in oil prices. "Although various factors have contributed to this volatility, the emergence of the USA as a large producer of shale oil and shale gas has been the primary reason for the abundance of oil and gas, resulting in reduced imports into the USA," he said.
"This, coupled with the start in production of various LNG projects, has increased the availability of LNG around the world," he said. India, he said, is the fourth largest importer of LNG in the world. "A total of about 14 million tons per annum of LNG is imported into India currently and almost 80 per cent of these imports come to Petronet's two terminals (at Dahej in Gujarat and Kochi in Kerala)," he said. While Qatar has been the largest supplier of LNG to India for the past many years, various other countries are now selling LNG to India. "This helps the country diversify its sources of imports," he said.
Tripathi said Dahej capacity will be raised by 50 per cent to 15 million tons by December 2016 and a further expansion to 17.5 million tons is planned.
Cooperative federalism is the answer to Centre-State power games
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The Central government and the states are continually skirmishing with each other. If it is not Arvind Kejriwal vs Najeeb Jung in Delhi, it is the Union government vs the Rest over the GST - or land acquisition, or water, or mining, police... the list is long.
So, whither cooperative federalism, so that the country can move forward more quickly, asks Vidhi, a legal policy advisory group set up a team of young lawyers. Its other name is Centre for Legal Policy.
It has proposed a set of solutions in areas of centre-state jurisdiction trouble such as ecommerce, land acquisition, GST and redesigning Delhi's governance. The solutions are available in a briefing book Cooperative Federalism - From Rhetoric to Reality that was released on Wednesday evening in Delhi by former RBI governor and Chairman of the 14th Finance Commission Y.V. Reddy, Justice B.N. Srikrishna, former judge of the Supreme Court who headed the Sixth Pay Commission and the Committee on Telengana, and Ashok Ganguly, former Chairman of Hindustan Unilever.
On Goods and Services Tax (GST), Vidhi proposes that the 2014 Amendment Bill may be modified so that the GST Council's role is strengthened. The bill should state that "The Council will take decisions that are binding on the Centre and States". Currently, there is scope for confusion as to whether the recommendations of the Council are binding or not.
Another modification is "Where consensus is not possible within the Council, a decision should be taken by three fourths majority with each state and the Centre getting one, non-weighted vote." Finally, if either state or Centre is aggrieved, it may challenge the recommendation before the Supreme Court under Article 131 of the Constitution.
But on GST, Reddy, who as head of the 14th Finance Commission had recommended an unprecedented increase in the share of tax revenues transferred from Centre to the States, gently chided the gathering against growing too frustrated. "I understand the frustration in the delay of GST adoption. But when you look back to 50 years ago and what a mess our taxation structure was, we have come a long way in rationalising taxes."
Reddy, who was at his humorous best, recounted his experience of Centre-State perceptions in the early 1970s. He was with the planning department in Andhra Pradesh, and had also been made a member of the task force on decentralisation of the central Planning Commission. It was a formidable body then with stalwarts like laconic Sukhumoy Chakravarty and the acerbic B.S. Minhas.
"Once during one of our meetings, Professor Minhas told me - We find that planning is best in Andhra Pradesh but development is best in Punjab where there is no planning." That put me in my place, Reddy said.
Another gem was from 1983 when N.T. Rama Rao was elected chief minister of Andhra Pradesh. The debate raged in the planning department whether to allocate more funds for ongoing projects or to set aside more for new projects. At this point, a wag remarked: "If the public wanted the old projects to go through, they would have voted for the existing government. Clearly they want new schemes and hence voted a new government."
"Many people tell me I am very pro-states, but it's not true. I am equally indebted to the Union government," said Reddy.
Justice Srikrishna said that cooperative federalism was "an elastic term" and there is a flaw that is rather visible as the boundaries of power sharing between Centre and states have never been properly defined. Moreover, for true cooperative federalism, you need strong states but history has shown that states have never remained indestructible in India. "So many states have been formed, reformed over the years," he said.
However, he said the flaw - of not defining power sharing - may prove to be a virtue, as it gives flexibility to both Centre and states in their dealings.
The Central government and the states are continually skirmishing with each other. If it is not Arvind Kejriwal vs Najeeb Jung in Delhi, it is the Union government vs the Rest over the GST - or land acquisition, or water, or mining, police... the list is long.
So, whither cooperative federalism, so that the country can move forward more quickly, asks Vidhi, a legal policy advisory group set up a team of young lawyers. Its other name is Centre for Legal Policy.
It has proposed a set of solutions in areas of centre-state jurisdiction trouble such as ecommerce, land acquisition, GST and redesigning Delhi's governance. The solutions are available in a briefing book Cooperative Federalism - From Rhetoric to Reality that was released on Wednesday evening in Delhi by former RBI governor and Chairman of the 14th Finance Commission Y.V. Reddy, Justice B.N. Srikrishna, former judge of the Supreme Court who headed the Sixth Pay Commission and the Committee on Telengana, and Ashok Ganguly, former Chairman of Hindustan Unilever.
On Goods and Services Tax (GST), Vidhi proposes that the 2014 Amendment Bill may be modified so that the GST Council's role is strengthened. The bill should state that "The Council will take decisions that are binding on the Centre and States". Currently, there is scope for confusion as to whether the recommendations of the Council are binding or not.
Another modification is "Where consensus is not possible within the Council, a decision should be taken by three fourths majority with each state and the Centre getting one, non-weighted vote." Finally, if either state or Centre is aggrieved, it may challenge the recommendation before the Supreme Court under Article 131 of the Constitution.
But on GST, Reddy, who as head of the 14th Finance Commission had recommended an unprecedented increase in the share of tax revenues transferred from Centre to the States, gently chided the gathering against growing too frustrated. "I understand the frustration in the delay of GST adoption. But when you look back to 50 years ago and what a mess our taxation structure was, we have come a long way in rationalising taxes."
Reddy, who was at his humorous best, recounted his experience of Centre-State perceptions in the early 1970s. He was with the planning department in Andhra Pradesh, and had also been made a member of the task force on decentralisation of the central Planning Commission. It was a formidable body then with stalwarts like laconic Sukhumoy Chakravarty and the acerbic B.S. Minhas.
"Once during one of our meetings, Professor Minhas told me - We find that planning is best in Andhra Pradesh but development is best in Punjab where there is no planning." That put me in my place, Reddy said.
Another gem was from 1983 when N.T. Rama Rao was elected chief minister of Andhra Pradesh. The debate raged in the planning department whether to allocate more funds for ongoing projects or to set aside more for new projects. At this point, a wag remarked: "If the public wanted the old projects to go through, they would have voted for the existing government. Clearly they want new schemes and hence voted a new government."
"Many people tell me I am very pro-states, but it's not true. I am equally indebted to the Union government," said Reddy.
Justice Srikrishna said that cooperative federalism was "an elastic term" and there is a flaw that is rather visible as the boundaries of power sharing between Centre and states have never been properly defined. Moreover, for true cooperative federalism, you need strong states but history has shown that states have never remained indestructible in India. "So many states have been formed, reformed over the years," he said.
However, he said the flaw - of not defining power sharing - may prove to be a virtue, as it gives flexibility to both Centre and states in their dealings.
General Awareness
UNESCO World Heritage Sites in India
UNESCO World Heritage Sites
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This list contains the places chosen by the UNESCO as heritage sites in India.UNESCO is a specialized agency of United Nations.UNESCO was created for the conservation and protection of the worlds inheritance of books,works of art and monuments of history and science.As of now there are 32 world Heritage sites in India.25 cultural sites and 7 natural sites and also sites which are on tentative list.
- This list contains the places chosen by the UNESCO as heritage sites in India.UNESCO is a specialized agency of United Nations.UNESCO was created for the conservation and protection of the worlds inheritance of books,works of art and monuments of history and science.As of now there are 32 world Heritage sites in India.25 cultural sites and 7 natural sites and also sites which are on tentative list.
List of 25 cultural Heritage Sites.
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Name of the Site Location Year of Inscription Agra Fort Uttar Pradesh 1983 Ajanta Caves Maharashtra 1983 Buddhist Monuments at Sanchi Madhya Pradesh 1989 Champaner-Pavagadh Archaeological Park Gujarat 2004 Chhatrapati Shivaji Terminus (formerly Victoria Terminus) Maharashtra 2004 Churches and Convents of Goa Goa 1986 Elephanta Caves Maharashtra 1987 Ellora Cave Maharashtra 1983 Fatehpur Sikri Uttar Pradesh 1986 Great Living Chola Temples Tamil Nadu 1987 Group of Monuments at Hampi Karnataka 1986 Group of Monuments at Mahabalipuram Tamil Nadu 1984 Group of Monuments at Pattadakal Karnataka 1987 Hill Forts of Rajasthan Rajasthan 2013 Humayun’s Tomb, Delhi Delhi 1993 Khajuraho Group of Monuments Madhya Pradesh 1986 Mahabodhi Temple Complex at Bodh Gaya Bihar 2002 Mountain Railways of India Darjeeling, West Bengal
Nilgiri, Tamil Nadu
Kalka-Shimla, Himachal Pradesh
1999 Qutb Minar and its Monuments, Delhi Delhi 1993 Rani-ki-Vav (the Queen’s Stepwell) Gujarat 2014 Red Fort Complex Delhi 2007 Rock Shelters of Bhimbetka Madhya Pradesh 2003 Sun Temple, Konârak Orissa 1984 Taj Mahal Uttar Pradesh 1983 The Jantar Mantar, Jaipur Rajasthan 2010
Name of the Site Location Year of Inscription Agra Fort Uttar Pradesh 1983 Ajanta Caves Maharashtra 1983 Buddhist Monuments at Sanchi Madhya Pradesh 1989 Champaner-Pavagadh Archaeological Park Gujarat 2004 Chhatrapati Shivaji Terminus (formerly Victoria Terminus) Maharashtra 2004 Churches and Convents of Goa Goa 1986 Elephanta Caves Maharashtra 1987 Ellora Cave Maharashtra 1983 Fatehpur Sikri Uttar Pradesh 1986 Great Living Chola Temples Tamil Nadu 1987 Group of Monuments at Hampi Karnataka 1986 Group of Monuments at Mahabalipuram Tamil Nadu 1984 Group of Monuments at Pattadakal Karnataka 1987 Hill Forts of Rajasthan Rajasthan 2013 Humayun’s Tomb, Delhi Delhi 1993 Khajuraho Group of Monuments Madhya Pradesh 1986 Mahabodhi Temple Complex at Bodh Gaya Bihar 2002 Mountain Railways of India Darjeeling, West Bengal
Nilgiri, Tamil NaduKalka-Shimla, Himachal Pradesh1999 Qutb Minar and its Monuments, Delhi Delhi 1993 Rani-ki-Vav (the Queen’s Stepwell) Gujarat 2014 Red Fort Complex Delhi 2007 Rock Shelters of Bhimbetka Madhya Pradesh 2003 Sun Temple, Konârak Orissa 1984 Taj Mahal Uttar Pradesh 1983 The Jantar Mantar, Jaipur Rajasthan 2010
List of Seven Natural Heritage Sites
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Name Of the Site Location Year of Inscription Great Himalayan National Park Conservation Area Himachal Pradesh 2014 Kaziranga National Park Assam 1985 Keoladeo National Park Rajasthan 1985 Manas Wildlife Sanctuary Assam 1985 Nanda Devi and Valley of Flowers National Parks Uttarakhand 1988 Sundarbans National Park West Bengal 1987 Western Ghats Covers Four states
(Kerala ,Karnataka,Tamilnadu and Maharashtra)
2012
Note:In the case of western ghats a total of thirty nine properties (including national parks, wildlife sanctuaries and reserve forests) were designated as world heritage sites – twenty in the state of Kerala, ten in Karnataka, five in Tamil Nadu and four in Maharashtra
Name Of the Site Location Year of Inscription Great Himalayan National Park Conservation Area Himachal Pradesh 2014 Kaziranga National Park Assam 1985 Keoladeo National Park Rajasthan 1985 Manas Wildlife Sanctuary Assam 1985 Nanda Devi and Valley of Flowers National Parks Uttarakhand 1988 Sundarbans National Park West Bengal 1987 Western Ghats Covers Four states
(Kerala ,Karnataka,Tamilnadu and Maharashtra)2012 Note:In the case of western ghats a total of thirty nine properties (including national parks, wildlife sanctuaries and reserve forests) were designated as world heritage sites – twenty in the state of Kerala, ten in Karnataka, five in Tamil Nadu and four in Maharashtra
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