General Affairs
Rahul Gandhi is the 'Spoiled Child' of Indian Politics, Says BJP
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BENGALURU, KARNATAKA: Calling the Congress Vice President, a "spoiled child" of Indian politics, the BJP accused the party of behaving with complete irresponsibility under Rahul Gandhi's overall leadership.
"Rahul Gandhi is the spoiled child of Indian politics. He doesn't have a truth; he has no experience and each day more proof comes that instead of trying to be a leader he has become India's most prominent mislead," said BJP spokesperson, MJ Akbar.
He also hit out at Congress-led government in Karnataka for delay in convening session of legislature to discuss drought and farmers issues.
Mr Akbar said, "What we are seeing is a pattern of irresponsibility, whether the Congress is in power as it is in Karnataka or where it is in opposition as it is in Delhi. It is behaving with complete irresponsibility under the overall leadership of Rahul Gandhi."
Accusing the Congress of trying to mislead the people on the issue of Mr Gandhi's foreign trips, Mr Akbar said, "They think all of us here in India have no access to internet, have no access to information. Which world of foolishness they are living in...."
BJP had accused Mr Gandhi of running away from facing the Bihar elections. The Congress has insisted that their party Vice President has gone to the US to attend a conference 'Weekend with Charlie Rose' at Aspen Institute in Colorado, and would be back for campaigning in the Bihar assembly elections.
On the possibility of Rashtriya Swayamsevak Sangh chief, Mohan Bhagwat's comments on reservation, the BJP leader claimed that those comments were "misunderstood and misconstrued", particularly by Bihar Chief Minister, Nitish Kumar and Lalu Prasad.
He said, "They have vested interest in creating misunderstanding. Our position has been clarified over and over again by a person no less than our party President Amit Shah. There is no question of BJP changing the reservation policy at all."
BENGALURU, KARNATAKA: Calling the Congress Vice President, a "spoiled child" of Indian politics, the BJP accused the party of behaving with complete irresponsibility under Rahul Gandhi's overall leadership."Rahul Gandhi is the spoiled child of Indian politics. He doesn't have a truth; he has no experience and each day more proof comes that instead of trying to be a leader he has become India's most prominent mislead," said BJP spokesperson, MJ Akbar.
Mr Akbar said, "What we are seeing is a pattern of irresponsibility, whether the Congress is in power as it is in Karnataka or where it is in opposition as it is in Delhi. It is behaving with complete irresponsibility under the overall leadership of Rahul Gandhi."
Accusing the Congress of trying to mislead the people on the issue of Mr Gandhi's foreign trips, Mr Akbar said, "They think all of us here in India have no access to internet, have no access to information. Which world of foolishness they are living in...."
BJP had accused Mr Gandhi of running away from facing the Bihar elections. The Congress has insisted that their party Vice President has gone to the US to attend a conference 'Weekend with Charlie Rose' at Aspen Institute in Colorado, and would be back for campaigning in the Bihar assembly elections.
On the possibility of Rashtriya Swayamsevak Sangh chief, Mohan Bhagwat's comments on reservation, the BJP leader claimed that those comments were "misunderstood and misconstrued", particularly by Bihar Chief Minister, Nitish Kumar and Lalu Prasad.
He said, "They have vested interest in creating misunderstanding. Our position has been clarified over and over again by a person no less than our party President Amit Shah. There is no question of BJP changing the reservation policy at all."
Important Bills Have to be Passed to Maintain Growth: Union Minister Venkaiah Naidu
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HYDERABAD: Union Minister M Venkaiah Naidu today said important bills like GST Bill and Real Estate Bill need to be passed for economic development, even as he noted that 30 per cent of Indians live below the poverty line.
"We have 30 per cent of Indians living below poverty line. The government has recorded 7.3 per cent GDP growth. If the same pace of growth is continued for two to three years, there is a possibility of India overtaking China's growth rate," he said.
"Initially, the government faced a lot of problems like fiscal deficit, revenue deficit, trade deficit, current account deficit and a trust deficit. We must pass GST Bill, Real Estate Bill and Negotiable Instruments Bill. Mudra scheme has to be strengthened further," he said.
He said that contrary to public notion that large industries create more employment opportunities, it is small enterprises which employ as many as 12 crore people.
"It is the small enterprise sector which our PM wants to target through the Pradhan Mantri Mudra Yojana in order to help budding entrepreneurs," he said.
He said that Reserve Bank of India has allotted Rs. 20,000 crore for Mudra Yojana to provide refinance to last mile financiers.
HYDERABAD: Union Minister M Venkaiah Naidu today said important bills like GST Bill and Real Estate Bill need to be passed for economic development, even as he noted that 30 per cent of Indians live below the poverty line."We have 30 per cent of Indians living below poverty line. The government has recorded 7.3 per cent GDP growth. If the same pace of growth is continued for two to three years, there is a possibility of India overtaking China's growth rate," he said.
He said that contrary to public notion that large industries create more employment opportunities, it is small enterprises which employ as many as 12 crore people.
"It is the small enterprise sector which our PM wants to target through the Pradhan Mantri Mudra Yojana in order to help budding entrepreneurs," he said.
He said that Reserve Bank of India has allotted Rs. 20,000 crore for Mudra Yojana to provide refinance to last mile financiers.
Need for Setting up Blood Banks Along Highways: Minister Jitendra Singh
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NEW DELHI: Citing rise in number of road accidents, Minister of State for Personnel Jitendra Singh today emphasised on setting up blood banks along all major highways.
"With the number of road accidents constantly on the rise, this (blood banks) will supplement timely help to the needy at places where the government infrastructure is still inadequate," Mr Singh said inaugurating the 40th annual national conference of 'Indian Society of Blood Transfusion and Immunohematology (ISBT)'.
"In the next phase, the same facility can also be replicated in the interior belts of rural and semi-urban areas," he added.
Mr Singh emphasised the need to set up readily available blood bank facility along all the major road highways across the country and to begin with, he offered to collaborate with ISBT and related agencies to initiate this process from his own Lok Sabha constituency Udhampur in Jammu and Kashmir.
A team of experts will soon be visiting the districts of Kathua, Udhampur and Reasi in Jammu and Kashmir to work out an early implementation of this plan, he said.
From the experience gained from this area, the same campaign for upgraded empowerment of blood bank facility will also be extended to other states in different parts of the country, including the northeast, Mr Singh said
For example, he said, while about three decades ago, the bulk of blood transfusion was consumed by people suffering from anaemia or protein deficiency, in the present day and time, victims of road accidents and patients of chronic kidney failure resulting from Diabetes, etc. have become major recipients of blood transfusion.
Mr Singh appreciated the efforts of ISBT and said that its role is not confined only to managing and executing blood transfusion but also spreading awareness among the society to encourage voluntary donations.
At the same time, he suggested that the representatives of this organisation should also be incorporated by the Health Ministry in the decision making process regarding blood transfusion and related matters.
NEW DELHI: Citing rise in number of road accidents, Minister of State for Personnel Jitendra Singh today emphasised on setting up blood banks along all major highways."With the number of road accidents constantly on the rise, this (blood banks) will supplement timely help to the needy at places where the government infrastructure is still inadequate," Mr Singh said inaugurating the 40th annual national conference of 'Indian Society of Blood Transfusion and Immunohematology (ISBT)'.
Mr Singh emphasised the need to set up readily available blood bank facility along all the major road highways across the country and to begin with, he offered to collaborate with ISBT and related agencies to initiate this process from his own Lok Sabha constituency Udhampur in Jammu and Kashmir.
A team of experts will soon be visiting the districts of Kathua, Udhampur and Reasi in Jammu and Kashmir to work out an early implementation of this plan, he said.
From the experience gained from this area, the same campaign for upgraded empowerment of blood bank facility will also be extended to other states in different parts of the country, including the northeast, Mr Singh said
For example, he said, while about three decades ago, the bulk of blood transfusion was consumed by people suffering from anaemia or protein deficiency, in the present day and time, victims of road accidents and patients of chronic kidney failure resulting from Diabetes, etc. have become major recipients of blood transfusion.
Mr Singh appreciated the efforts of ISBT and said that its role is not confined only to managing and executing blood transfusion but also spreading awareness among the society to encourage voluntary donations.
At the same time, he suggested that the representatives of this organisation should also be incorporated by the Health Ministry in the decision making process regarding blood transfusion and related matters.
'Security Council Should Be Reformed to Maintain Its Credibility,' Says PM Modi
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NEW DELHI: PM Narendra Modi is addressing the UN General Assembly.
Here are the highlights:
- Mahatma Gandhi had said that we should be concerned about the future that we won't be able to see.
- One of our top agenda is poverty eradication.
- There are 1.3 billion people living in state of poverty worldwide.
- I am in favour of 'Blue Revolution'.
- It should be about about the development of island nations.
- Education and skill development are priorities for us.
- Women empowerment is important to us.
- 'Beti bachao, beti padhao' has become chief feature of our women empowerment programme.
- I belong to a culture where Earth is considered as mother.
- We see the entire world as one family.
- I hope that world will stick to its commitments to climate change and development.
- Our next generation should be raised to protect the environment.
- The Security Council and the United Nations should be reformed so that its credibility is maintained.
- The world is connected and dependent on each other. Our international partnerships need to be centered on progress of the humanity.
- I want everyone to prosper and that's what I pray for: everyone's happiness, and prosperity.
NEW DELHI: PM Narendra Modi is addressing the UN General Assembly.Here are the highlights:
- Mahatma Gandhi had said that we should be concerned about the future that we won't be able to see.
- One of our top agenda is poverty eradication.
- There are 1.3 billion people living in state of poverty worldwide.
- I am in favour of 'Blue Revolution'.
- It should be about about the development of island nations.
- Education and skill development are priorities for us.
- Women empowerment is important to us.
- 'Beti bachao, beti padhao' has become chief feature of our women empowerment programme.
- I belong to a culture where Earth is considered as mother.
- We see the entire world as one family.
- I hope that world will stick to its commitments to climate change and development.
- Our next generation should be raised to protect the environment.
- The Security Council and the United Nations should be reformed so that its credibility is maintained.
- The world is connected and dependent on each other. Our international partnerships need to be centered on progress of the humanity.
- I want everyone to prosper and that's what I pray for: everyone's happiness, and prosperity.
Why Hardik Patel is Distributing Lollipops in Gujarat Towns and Villages
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AHMEDABAD: Hardik Patel has now announced a "lollipop movement" in Gujarat to protest against a 1000-crore package for economically weak students that the state government announced yesterday.
The 22-year-old Mr Patel, who is the face of an agitation for reservation in government jobs and colleges for Patels, alleges that the package does not offer anything substantial to his community.
He has called it a "lollipop" handed to the Patel community and says his organisation the Patidar Anamat Andolan Samiti will protest by distributing lollipops to Patels or Patidars in villages and towns across Gujarat.
He launched his new movement in Rajkot and other parts of the state this evening, only a day after he assured the Gujarat High Court that he would not call for any protest or agitation till September 29, when he has been asked to appear in court next.
The court had on Thursday severely reprimanded Hardik Patel and his lawyer BM Mangukia, saying they had taken "the court for a ride" by filing a petition past midnight earlier this week alleging that Hardik had been abducted and illegally detained by the Gujarat police.
It has asked the lawyer to substantiate the allegations at the next hearing, observing that "prima facie we find that the whole purpose of the petition was mere publicity." Mr Patel had surfaced on Wednesday and held a press conference before he appeared before court.
Also on Thursday, Gujarat Chief Minister Anandiben Patel announced a special scheme with a substantial fee waiver for students from low-income families across communities. It will benefit bright students, irrespective of caste, whose family income is not more than Rs 4.5 lakh per year and annum.
The scheme is seen as an affirmative action that attempts to bypass Hardik Patel's demand to include the influential and wealthy Patels among castes that get the benefit of reservation.
AHMEDABAD: Hardik Patel has now announced a "lollipop movement" in Gujarat to protest against a 1000-crore package for economically weak students that the state government announced yesterday.The 22-year-old Mr Patel, who is the face of an agitation for reservation in government jobs and colleges for Patels, alleges that the package does not offer anything substantial to his community.
He launched his new movement in Rajkot and other parts of the state this evening, only a day after he assured the Gujarat High Court that he would not call for any protest or agitation till September 29, when he has been asked to appear in court next.
The court had on Thursday severely reprimanded Hardik Patel and his lawyer BM Mangukia, saying they had taken "the court for a ride" by filing a petition past midnight earlier this week alleging that Hardik had been abducted and illegally detained by the Gujarat police.
It has asked the lawyer to substantiate the allegations at the next hearing, observing that "prima facie we find that the whole purpose of the petition was mere publicity." Mr Patel had surfaced on Wednesday and held a press conference before he appeared before court.
Also on Thursday, Gujarat Chief Minister Anandiben Patel announced a special scheme with a substantial fee waiver for students from low-income families across communities. It will benefit bright students, irrespective of caste, whose family income is not more than Rs 4.5 lakh per year and annum.
The scheme is seen as an affirmative action that attempts to bypass Hardik Patel's demand to include the influential and wealthy Patels among castes that get the benefit of reservation.
Business Affairs
Delta Electronics to invest Rs 1,460 crore in India, hire 5,400
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Taiwan-based Delta Electronics will invest $225 million (about Rs 1,460 crore) to set up a power supply manufacturing plant and product development centre in India next year.
"We are in the process of acquiring land in Tamil Nadu for setting up power supply manufacturing unit. We expect land title to be transferred to us by November. First set of investment of $150 million of the total commitment will be made next year," Delta India Electronics Managing Director Dalip Sharma said at Renewable Energy India Expo.
The investment is part of the $500 million investment commitment made by the company's CEO Ping Cheng at Digital India event held in July.
Sharma said Delta will hire 5,000 people for working at this plant over a period of next five-seven years.
"We expect to approach Department of Electronics and IT for approval under MSIPS by end of this year," Sharma said.
The Modified Special Incentive Package Scheme (MSIPS) provides subsidy for investments in capital expenditure, which is 20 per cent for investments in special economic zones (SEZs) and 25 per cent in non-SEZs. It also provides for reimbursement of countervailing duty or excise for capital equipment for the non-SEZ units.
The company already has a manufacturing unit at Rudrapur in Uttarakhand.
The company is in process of setting up a research and development centre in Bangalore that will work on software data analytics solution and high power technologies.
"We are at final stage of acquiring land for the R&D centre. Delta will invest another $75 million on this centre and would be hiring 400 engineers for it. Hiring will start from mid of next year," Sharma said.
The company deals in energy solutions, digital surveillance, solar inverters, industrial automation, projectors and commercial displays.
Sharma said Delta India Electronics registered revenues of Rs 1,000 crore in 2014 and expects to clock growth of about 35 per cent by end of this calendar year.
"We are cash flow positive and registering profit. This year we expect our revenue to be around Rs 1,350 crore. We have been following stable business model. Now we see time is ripe is to scale up our business with fresh investments," Sharma said.
Cheng committed that investment in India will be made over period of next 10 years and will create 20,000 new jobs in the country.
Taiwan-based Delta Electronics will invest $225 million (about Rs 1,460 crore) to set up a power supply manufacturing plant and product development centre in India next year.
"We are in the process of acquiring land in Tamil Nadu for setting up power supply manufacturing unit. We expect land title to be transferred to us by November. First set of investment of $150 million of the total commitment will be made next year," Delta India Electronics Managing Director Dalip Sharma said at Renewable Energy India Expo.
The investment is part of the $500 million investment commitment made by the company's CEO Ping Cheng at Digital India event held in July.
Sharma said Delta will hire 5,000 people for working at this plant over a period of next five-seven years.
"We expect to approach Department of Electronics and IT for approval under MSIPS by end of this year," Sharma said.
The Modified Special Incentive Package Scheme (MSIPS) provides subsidy for investments in capital expenditure, which is 20 per cent for investments in special economic zones (SEZs) and 25 per cent in non-SEZs. It also provides for reimbursement of countervailing duty or excise for capital equipment for the non-SEZ units.
The company already has a manufacturing unit at Rudrapur in Uttarakhand.
The company is in process of setting up a research and development centre in Bangalore that will work on software data analytics solution and high power technologies.
"We are at final stage of acquiring land for the R&D centre. Delta will invest another $75 million on this centre and would be hiring 400 engineers for it. Hiring will start from mid of next year," Sharma said.
The company deals in energy solutions, digital surveillance, solar inverters, industrial automation, projectors and commercial displays.
Sharma said Delta India Electronics registered revenues of Rs 1,000 crore in 2014 and expects to clock growth of about 35 per cent by end of this calendar year.
"We are cash flow positive and registering profit. This year we expect our revenue to be around Rs 1,350 crore. We have been following stable business model. Now we see time is ripe is to scale up our business with fresh investments," Sharma said.
Cheng committed that investment in India will be made over period of next 10 years and will create 20,000 new jobs in the country.
Indian Oil to invest Rs 1.5 trillion in seven years
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Indian Oil Corp will make an investment of Rs 1.5 lakh crore, including Rs 50,000 crore for expanding its existing brownfield refineries, in the next five to seven years, a top company official said on Friday.
The company has planned expansion of 10 refineries, infrastructure and other facilities, considering the future demand for energy, IOCL Chairman B Ashok said while adressing a press conference in Coimbatore.
The capacity of its existing Gujarat refinery will be increased to 18 million tonnes from the present 13.7 mt, Mathura to eight million tonnes in two phases, Panipat to 20 mt from the present 15 million tonnes and Barauni to nine million tonnes in two phases from the present six million tonnes, Ashok said.
Besides, the new refinery in Paradip, with a capacity of 11 million tonnes, will commence operation by November, which would lead to Indian Oil refineries holding over 35 per cent share of the national refining capacity and more than 50 per cent market share in retail petroleum products .
Ashok was in Coimbatore to declare the Indian Oil petrol pumps in Coimbatore and Tirupur as fully automated ones and said, of the nearly 25,000 outlets under Indian Oil, 7,700 have been automated.
Indian Oil Corp will make an investment of Rs 1.5 lakh crore, including Rs 50,000 crore for expanding its existing brownfield refineries, in the next five to seven years, a top company official said on Friday.
The company has planned expansion of 10 refineries, infrastructure and other facilities, considering the future demand for energy, IOCL Chairman B Ashok said while adressing a press conference in Coimbatore.
The capacity of its existing Gujarat refinery will be increased to 18 million tonnes from the present 13.7 mt, Mathura to eight million tonnes in two phases, Panipat to 20 mt from the present 15 million tonnes and Barauni to nine million tonnes in two phases from the present six million tonnes, Ashok said.
Besides, the new refinery in Paradip, with a capacity of 11 million tonnes, will commence operation by November, which would lead to Indian Oil refineries holding over 35 per cent share of the national refining capacity and more than 50 per cent market share in retail petroleum products .
Ashok was in Coimbatore to declare the Indian Oil petrol pumps in Coimbatore and Tirupur as fully automated ones and said, of the nearly 25,000 outlets under Indian Oil, 7,700 have been automated.
Small businesses to be aided through MUDRA Bank, says Finance Minister Arun Jaitley
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Finance Minister Arun Jaitley on Friday said the government will help small entrepreneurs through the MUDRA Bank scheme.
"Following the MUDRA scheme, we will start a scheme so that small entrepreneurs can get help and, in turn, contribute to the development and improvement of the financial condition of the nation," Jaitley said at the 99th birth anniversary celebration function of Pandit Deen Dayal Upadhyay.
Jaitley will hand over loan-sanction letters here to beneficiaries at a mega campaign organised by the Punjab National Bank (PNB).
The distribution of loan sanctions to borrowers by Jaitley is part of the mega credit campaign to be conducted by public sector banks across the country between September 25 and October 2.
The campaign is aimed at generating credit to micro enterprises and also to create an eco-system of bank credit to aspiring small and micro entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY).
"Micro entrepreneurs, very small traders, fruit sellers and mechanics etc. would be actively participating in the said campaign," a finance ministry statement said.
All public sector banks, regional rural banks and private sector banks have a target of Rs.1,22,000 crore during the current financial year for disbursement to small and micro enterprises.
The newly set up MUDRA (Micro Units Development and Refinance Agency) Bank is a public sector financial institution aimed at providing loans at low rates to microfinance institutions and non-banking financial institutions which then provide credit to MSMEs.
The MUDRA bank is going to provide succour to more than 5.77 crore small business units which can look forward to easy financial assistance from it, union Law Minister D.V. Sadananda Gowda said on Thursday.
MUDRA Ltd has been established as a subsidiary of SIDBI with an initial corpus of Rs.5,000 crore to provide capital to all banks seeking refinancing of small business loans under PMMY.
During the current fiscal up to September 22, a total of 35.60 lakh borrowers have availed credit totalling Rs.24,123 crore from MUDRA. Of these, 52 percent beneficiaries are women and around 50 percent are new enterprises.
PMMY loans do not need to be supported by collateral security.
Finance Minister Arun Jaitley on Friday said the government will help small entrepreneurs through the MUDRA Bank scheme.
"Following the MUDRA scheme, we will start a scheme so that small entrepreneurs can get help and, in turn, contribute to the development and improvement of the financial condition of the nation," Jaitley said at the 99th birth anniversary celebration function of Pandit Deen Dayal Upadhyay.
Jaitley will hand over loan-sanction letters here to beneficiaries at a mega campaign organised by the Punjab National Bank (PNB).
The distribution of loan sanctions to borrowers by Jaitley is part of the mega credit campaign to be conducted by public sector banks across the country between September 25 and October 2.
The campaign is aimed at generating credit to micro enterprises and also to create an eco-system of bank credit to aspiring small and micro entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY).
"Micro entrepreneurs, very small traders, fruit sellers and mechanics etc. would be actively participating in the said campaign," a finance ministry statement said.
All public sector banks, regional rural banks and private sector banks have a target of Rs.1,22,000 crore during the current financial year for disbursement to small and micro enterprises.
The newly set up MUDRA (Micro Units Development and Refinance Agency) Bank is a public sector financial institution aimed at providing loans at low rates to microfinance institutions and non-banking financial institutions which then provide credit to MSMEs.
The MUDRA bank is going to provide succour to more than 5.77 crore small business units which can look forward to easy financial assistance from it, union Law Minister D.V. Sadananda Gowda said on Thursday.
MUDRA Ltd has been established as a subsidiary of SIDBI with an initial corpus of Rs.5,000 crore to provide capital to all banks seeking refinancing of small business loans under PMMY.
During the current fiscal up to September 22, a total of 35.60 lakh borrowers have availed credit totalling Rs.24,123 crore from MUDRA. Of these, 52 percent beneficiaries are women and around 50 percent are new enterprises.
PMMY loans do not need to be supported by collateral security.
US media honchos seek speedier digitisation of Indian system
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Describing India as the biggest market, America's media honchos have called for speedier digitisation of the Indian system, including early expansion of the 4G network, during a one-of-its kind meeting with the Prime Minister Narendra Modi.
During the meeting wherein the focus was on the role that the media and entertainment industry can play in development and generation of employment opportunities in the country, CEOs of the top media houses appreciated PM Modi for energetic and dynamic leadership and expressed optimism about the future of India, a statement said.
The CEOs representing 40 per cent of the world's entertainment industry were enthusiastic about the digital transformation that is taking place in India through the 'Digital India' initiative. They said that the current strong trajectory of the Indian economy makes it at a unique moment to accelerate growth in this sector.
The CEOs present included Rupert Murdoch, executive chairman News Corp and 21stCentury Fox; James Murdoch, CEO, 21st Century Fox; Robert Thompson, CEO, News Corp; Uday Shankar, CEO, Star India; David Zaslav, president and CEO, Discovery Communications and Michael Lynton, CEO, Sony Entertainment. Others present at the round table were Michael Roth, CEO, Interpublic Group of Companies; Shane Smith, CEO, Vice Media; Martin Sorrell, CEO, WPP; Jeff Bewkes, CEO, Time Warner; Nancy Dubuc, CEO, A&E Networks; Anthony Pratt, chairman, Visy Industries; William Duhamel, Route One Investment Company and Jeff Ubben, CEO, ValueAct Capital.
All of them said that India is the biggest market for them in terms of the phenomenal growth of the entertainment channels, in terms of the youth in India wanting more such content. They asked for speedier digitisation of the Indian systems, External Affairs Ministry spokesperson Vikas Swarup told reporters.
Shane Smith for instance said that he wanted as soon as possible rolling of the 4G systems. This is the bandwidth that they need for their program contents to be rolled out and to reach people as fast as possible.
All the CEOs said that India is already a big market for them and they do not have any issues with the existing norms. What they wanted was speedier expansion of broad band infrastructure, he said.
_092515013520.jpg "Prime Minister Narendra Modi")
Describing India as the biggest market, America's media honchos have called for speedier digitisation of the Indian system, including early expansion of the 4G network, during a one-of-its kind meeting with the Prime Minister Narendra Modi.
During the meeting wherein the focus was on the role that the media and entertainment industry can play in development and generation of employment opportunities in the country, CEOs of the top media houses appreciated PM Modi for energetic and dynamic leadership and expressed optimism about the future of India, a statement said.
The CEOs representing 40 per cent of the world's entertainment industry were enthusiastic about the digital transformation that is taking place in India through the 'Digital India' initiative. They said that the current strong trajectory of the Indian economy makes it at a unique moment to accelerate growth in this sector.
The CEOs present included Rupert Murdoch, executive chairman News Corp and 21stCentury Fox; James Murdoch, CEO, 21st Century Fox; Robert Thompson, CEO, News Corp; Uday Shankar, CEO, Star India; David Zaslav, president and CEO, Discovery Communications and Michael Lynton, CEO, Sony Entertainment. Others present at the round table were Michael Roth, CEO, Interpublic Group of Companies; Shane Smith, CEO, Vice Media; Martin Sorrell, CEO, WPP; Jeff Bewkes, CEO, Time Warner; Nancy Dubuc, CEO, A&E Networks; Anthony Pratt, chairman, Visy Industries; William Duhamel, Route One Investment Company and Jeff Ubben, CEO, ValueAct Capital.
All of them said that India is the biggest market for them in terms of the phenomenal growth of the entertainment channels, in terms of the youth in India wanting more such content. They asked for speedier digitisation of the Indian systems, External Affairs Ministry spokesperson Vikas Swarup told reporters.
Shane Smith for instance said that he wanted as soon as possible rolling of the 4G systems. This is the bandwidth that they need for their program contents to be rolled out and to reach people as fast as possible.
All the CEOs said that India is already a big market for them and they do not have any issues with the existing norms. What they wanted was speedier expansion of broad band infrastructure, he said.
FM Arun Jaitley makes a pitch for voice reforms in World Bank
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Finance minister Arun Jaitley has underlined the need for voice reforms in the World Bank with a view to according greater say to emerging economies in the activities of the multilateral lending agency.
The minister raised the issue of voice reforms and increase in capital base of the agency at a meeting with the visiting World Bank Managing Director Sri Mulyani Indrawati on Thursday, a Finance Ministry statement said.
India has been seeking voice and quota reforms in multilateral bodies like the International Monetary Fund (IMF) and the World Bank so that emerging economies could have more clout in the working of these institutions.
Speaking on the occasion, Indrawati informed the minister about the World Bank Group's agenda and strategy for achieving the twin goals of removal of global poverty and increasing shared prosperity, in line with the Sustainable Development Goals (SDGs), 2015.
She assured support of the World Bank Group for India's development strategies through delivery of diversified programmes of financing, knowledge exchange and capacity building.
The issues concerning the Indian economy and priorities of the government too came up for discussion during the meeting.
Besides, the statement said, the discussion focused on the Prime Minister's Six Priority Areas for World Bank financing, road map and timelines for World Bank Group's capital increase, procurement, environment and social safeguards framework.
Indrawati is on a 3-day visit to India from September 22-24. This is her second visit to India in her capacity as the MD, World Bank Group.
The meeting was also attended by Economic Affairs Secretary Shaktikanta Das, senior officials of the finance ministry and representatives of the World Bank.
Finance minister Arun Jaitley has underlined the need for voice reforms in the World Bank with a view to according greater say to emerging economies in the activities of the multilateral lending agency.
The minister raised the issue of voice reforms and increase in capital base of the agency at a meeting with the visiting World Bank Managing Director Sri Mulyani Indrawati on Thursday, a Finance Ministry statement said.
India has been seeking voice and quota reforms in multilateral bodies like the International Monetary Fund (IMF) and the World Bank so that emerging economies could have more clout in the working of these institutions.
Speaking on the occasion, Indrawati informed the minister about the World Bank Group's agenda and strategy for achieving the twin goals of removal of global poverty and increasing shared prosperity, in line with the Sustainable Development Goals (SDGs), 2015.
She assured support of the World Bank Group for India's development strategies through delivery of diversified programmes of financing, knowledge exchange and capacity building.
The issues concerning the Indian economy and priorities of the government too came up for discussion during the meeting.
Besides, the statement said, the discussion focused on the Prime Minister's Six Priority Areas for World Bank financing, road map and timelines for World Bank Group's capital increase, procurement, environment and social safeguards framework.
Indrawati is on a 3-day visit to India from September 22-24. This is her second visit to India in her capacity as the MD, World Bank Group.
The meeting was also attended by Economic Affairs Secretary Shaktikanta Das, senior officials of the finance ministry and representatives of the World Bank.
General Awareness
PM Modi first Indian PM to visit Ireland in 60 years – An overview
Prime Minister Narendra Modi visited Ireland on 23rd September, 2015 for his maiden day-long visit to Ireland’s capital city Dublin for strengthening ties and deepening cooperation.
(Irish Prime Minister – Enda Kenny)
(Irish President – Michael D. Higgins)
(Ireland Currency – Euro)
(India Ambassador to Ireland – Mrs Radhika Lal Lokesh)
- The first Indian Prime Minister to visit the country in almost 59 years.
- The last Indian prime minister to visit Ireland was Jawaharlal Nehru in 1956.
HIGHLIGHTS OF VISIT
- Ireland support for India’s membership of UN Security council and international export control regimes including NSG (Nuclear supplier group) during wide ranging talks which also covered global challenges like terror and radicalisation.
- PM visits not only promote business links between two countries, but also give a strong boost to tourism ties that are already growing at 14%per year.
- Science and technology and education are two other areas where India and Ireland have a good history of cooperation like Ireland’s Science Centre in Karnatakais one example of that cooperation. Irish experts gave India institutions like theGeological Survey of India and the first Linguistic Survey of India.
- Announcement of direct flight between the two countries which will help the students as well the professionals who come from India to Ireland.
- PM Modi presented reproductions of selected manuscripts from National Archives of India to Irish PM.
- Irish PM presents a Irish cricket team jersey to PM Narendra Modi and Hurling (Irish national sport) bat (hurly) and a ball (sliotar)
FACTS ABOUT INDIA IRELAND RELATIONSHIP
- Ireland is home to around 26,000 persons of Indian origin, of which around 17,000 are Indian citizens.
- The Directive Principles of State Policy in the Indian Constitution are inspired by the Irish Constitution
- Relations between India and Ireland date back to independence and in 2013, the total trade in goods and services were pegged at €2.48 billion.
- The key items of Irish export include computer hardware and software, pharmaceuticals and chemicals, food and machinery.
- Indian exports to Ireland cover textiles, garments and clothing accessories, pharmaceuticals, light engineering goods and chemicals.
(Irish Prime Minister – Enda Kenny)
(Irish President – Michael D. Higgins)
(Ireland Currency – Euro)
(India Ambassador to Ireland – Mrs Radhika Lal Lokesh)
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