General Affairs
23 Naxals Surrender Before Chhattisgarh Officials In Bastar District
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RAIPUR: 23 Naxals, who were allegedly active in Darbha region -- known for Maoist activities, today surrendered before Chhattisgarh officials in Bastar district.
Altogether 23 cadres, including 3 women, turned themselves in before senior police and administrative officials citing the surrender policy of the state government and disappointment with the Maoist ideology, Bastar Superintendent of Police RN Dash said.
Of those who surrendered, six belong to Kudum Khodra village, five to Chandragiri village, 11 to Biaspur village and another to Pungarpa village, he said.
As per their statement, they were largely influenced by the messages spread in the recent anti-Maoist rallies in Bastar region besides provisions of the surrender policy that prompted them to quit arms, he said.
Most of them were lower rung cadres working as 'janmilitia' and CNM (Chetna Natya Mandli -- a cultural outfit of Maoists) members in Darbha division committee of the banned outfit, the officer said.
Two of them -- Madkami Hidmo and Ando Markam -- were carrying a reward of Rs. 1 lakh each on their heads, Dash said.
Rs. 10,000 each was given to the surrendered rebels as encouragement money, the officer said, adding that as per the policy of the Chhattisgarh government, necessary assistance will be provided to them.
Last week, 70 Naxals had surrendered in Chintalnar area of neighbouring Sukma district.
RAIPUR: 23 Naxals, who were allegedly active in Darbha region -- known for Maoist activities, today surrendered before Chhattisgarh officials in Bastar district.Altogether 23 cadres, including 3 women, turned themselves in before senior police and administrative officials citing the surrender policy of the state government and disappointment with the Maoist ideology, Bastar Superintendent of Police RN Dash said.
Of those who surrendered, six belong to Kudum Khodra village, five to Chandragiri village, 11 to Biaspur village and another to Pungarpa village, he said.
As per their statement, they were largely influenced by the messages spread in the recent anti-Maoist rallies in Bastar region besides provisions of the surrender policy that prompted them to quit arms, he said.
Most of them were lower rung cadres working as 'janmilitia' and CNM (Chetna Natya Mandli -- a cultural outfit of Maoists) members in Darbha division committee of the banned outfit, the officer said.
Two of them -- Madkami Hidmo and Ando Markam -- were carrying a reward of Rs. 1 lakh each on their heads, Dash said.
Rs. 10,000 each was given to the surrendered rebels as encouragement money, the officer said, adding that as per the policy of the Chhattisgarh government, necessary assistance will be provided to them.
Last week, 70 Naxals had surrendered in Chintalnar area of neighbouring Sukma district.
For Violating Odd-Even Rule, Pay Rs. 2,000 Several Times A Day
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NEW DELHI: Those who violate the odd-even rule will have to pay Rs. 2,000 every time they are caught, even if it is multiple times a day, the Delhi government has said.
In the first 15 days of the New Year, odd cars will be allowed on odd dates and even cars will be allowed on even dates, barring exceptions made for women, VIPs, medical emergencies, CNG and hybrid vehicles, and two-wheelers. Both odd and even number cars will be allowed on Sundays.
Those who break the rule will have to pay Rs. 2,000, but it will not be a one-time fine.
To ensure that violators do not take the fine as a "licence" to use the wrong numbered car all day, the government has decided that every time drivers are caught at check-posts, they will be fined.
At a meeting today with various agencies, the government assured the Delhi Police that civil defence volunteers would work with the traffic police and revenue authorities at crossings. "Their main role will be to create awareness and they will carry placards but will not be authorized to stop vehicles," an official said.
Delhi Police Commissioner BS Bassi has said that people must not misuse exemptions for medical emergencies. "I appeal to people in Delhi not to start their New Year by lying about medical emergencies to evade the scheme, which is largely based on common trust," he told reporters.
Mr Bassi also appealed to people not to fake their number plates.
NEW DELHI: Those who violate the odd-even rule will have to pay Rs. 2,000 every time they are caught, even if it is multiple times a day, the Delhi government has said.In the first 15 days of the New Year, odd cars will be allowed on odd dates and even cars will be allowed on even dates, barring exceptions made for women, VIPs, medical emergencies, CNG and hybrid vehicles, and two-wheelers. Both odd and even number cars will be allowed on Sundays.
To ensure that violators do not take the fine as a "licence" to use the wrong numbered car all day, the government has decided that every time drivers are caught at check-posts, they will be fined.
At a meeting today with various agencies, the government assured the Delhi Police that civil defence volunteers would work with the traffic police and revenue authorities at crossings. "Their main role will be to create awareness and they will carry placards but will not be authorized to stop vehicles," an official said.
Delhi Police Commissioner BS Bassi has said that people must not misuse exemptions for medical emergencies. "I appeal to people in Delhi not to start their New Year by lying about medical emergencies to evade the scheme, which is largely based on common trust," he told reporters.
Mr Bassi also appealed to people not to fake their number plates.
PM Modi To Lay Foundation Stone Of Delhi-Meerut Expressway On December 31
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NEW DELHI: Prime Minister Narendra Modi will on December 31 lay the foundation stone of ambitious Delhi-Meerut Expressway project, aimed at easing traffic congestion in the national capital.
The Prime Minister last month launched three important highway projects worth Rs. 10,166 crore to decongest Delhi.
"We are committed to ease the traffic problems of Delhi and are taking a slew of steps. Another major milestone to decongest Delhi will be Delhi-Meerut Expressway, foundation stone of which will be laid by Prime Minister on December 31,"
Road Transport and Highways Minister Nitin Gadkari told PTI.
The minister said presently there is only one route i.e. NH-58 between Delhi and Meerut on which the traffic remains jammed at several places, thus causing a lot of inconvenience to people commuting between Delhi and Meerut.
"An urgent need for an expressway was felt for unhindered fast and safe travel from Delhi to Meerut and vice versa and accordingly the project was prepared," Gadkari said.
The alignment of Delhi-Meerut Express will start from Nizammudin Bridge (Km 00) from Delhi and will continue on existing NH 24 upto Dasna [km 30.38].
"From Dasna there will be completely a new alignment upto Meerut. The alignment will terminate on inner ring road/Meerut bypass near Railway crossing at Meerut," he said.
The project is proposed under four packages with the three packages Nizamuddin Bridge to UP Border, UP Border to Dasna and Dasna to Hapur project cost at Rs. 2,809.6 crore. The fourth package will be a new alignment of Delhi Meerut Expressway from Dasna to Meerut and six laning of connector.
Bids for the Delhi-Hapur section of NH-24 project in three packages on new hybrid annuity model have been invited, the minister said.
It is proposed that new alignment of the expressway from Dasna to Meerut and six-laing of Connector is also to be taken after the completion of 90 per cent land acquisition, he said.
The 87 km project besides 9 km connector will have 6 lane expressway and 44 lane highway, service roads, cycle tracks, flyovers, elevated sections, major and minor bridges, railway overbridges, vehicular underpasses and pedestrian underpasses.
The total land required for three packages is 348.6 hectares of which 343.36 hectare has already been acquired.
Earlier this month Mr Gadkari has said, "The government is committed to decongest Delhi. We have set an ambitious target.
This is to complete the Eastern and Western Peripheral Expressway in 400 days."
The Prime Minister last month laid the foundation stone of 341 km three national highway projects - the Eastern Peripheral Highway, Western Peripheral Highway and 8 laning of the National Highway between Mukarba Chowk in Delhi and Panipat in Haryana.
NEW DELHI: Prime Minister Narendra Modi will on December 31 lay the foundation stone of ambitious Delhi-Meerut Expressway project, aimed at easing traffic congestion in the national capital.The Prime Minister last month launched three important highway projects worth Rs. 10,166 crore to decongest Delhi.
"We are committed to ease the traffic problems of Delhi and are taking a slew of steps. Another major milestone to decongest Delhi will be Delhi-Meerut Expressway, foundation stone of which will be laid by Prime Minister on December 31,"
Road Transport and Highways Minister Nitin Gadkari told PTI.
The minister said presently there is only one route i.e. NH-58 between Delhi and Meerut on which the traffic remains jammed at several places, thus causing a lot of inconvenience to people commuting between Delhi and Meerut.
"An urgent need for an expressway was felt for unhindered fast and safe travel from Delhi to Meerut and vice versa and accordingly the project was prepared," Gadkari said.
The alignment of Delhi-Meerut Express will start from Nizammudin Bridge (Km 00) from Delhi and will continue on existing NH 24 upto Dasna [km 30.38].
"From Dasna there will be completely a new alignment upto Meerut. The alignment will terminate on inner ring road/Meerut bypass near Railway crossing at Meerut," he said.
The project is proposed under four packages with the three packages Nizamuddin Bridge to UP Border, UP Border to Dasna and Dasna to Hapur project cost at Rs. 2,809.6 crore. The fourth package will be a new alignment of Delhi Meerut Expressway from Dasna to Meerut and six laning of connector.
Bids for the Delhi-Hapur section of NH-24 project in three packages on new hybrid annuity model have been invited, the minister said.
It is proposed that new alignment of the expressway from Dasna to Meerut and six-laing of Connector is also to be taken after the completion of 90 per cent land acquisition, he said.
The 87 km project besides 9 km connector will have 6 lane expressway and 44 lane highway, service roads, cycle tracks, flyovers, elevated sections, major and minor bridges, railway overbridges, vehicular underpasses and pedestrian underpasses.
The total land required for three packages is 348.6 hectares of which 343.36 hectare has already been acquired.
Earlier this month Mr Gadkari has said, "The government is committed to decongest Delhi. We have set an ambitious target.
This is to complete the Eastern and Western Peripheral Expressway in 400 days."
The Prime Minister last month laid the foundation stone of 341 km three national highway projects - the Eastern Peripheral Highway, Western Peripheral Highway and 8 laning of the National Highway between Mukarba Chowk in Delhi and Panipat in Haryana.
Jayalalithaa Allots Houses For People Who Lost Homes In Chennai Floods
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CHENNAI: Setting in motion the process of resettling people who had lost their hutments in areas, including the banks of River Adyar in Chennai in recent floods, Tamil Nadu Chief Minister Jayalalithaa today issued orders allotting houses for them.
The government has also announced that families that relocate would get an allowance ofRs. 5,000 towards shifting expenses.
Also, a monthly sustenance dole of Rs. 2,500 for a year, job training for youth and recruitment camps for them will be held to help young men and women in families that had lost their houses.
She issued the orders allocating the houses to five beneficiaries at the Secretariat in Chennai as a token of allotment of 10,000 houses at Okkiam Thuraipakkam and Perumbakkam.
The present allotment was for those who had lost their hutments along River Adyar in recent floods.
The construction work of 10,000 houses is complete and it was done through the Tamil Nadu Slum Clearance Board, an official release in Chennai said.
Ms Jayalalithaa had announced permanent houses for those living along Adyar and Cooum rivers and Buckingham Canal. The initiative was also intended to facilitate free flow of rain water in such waterways.
She had announced building 50,000 houses under the 'Housing for All Scheme' and 50,000 houses through the Tamil Nadu Slum Clearance Board.
TNSCB, in the first phase, has completed building 10,000 houses and it has all facilities including power supply, drinking water, sewage connections, roads and storm water drain, school, healthcare centre and bus facilities, the release added.
The government said those shifting to the new area would be provided food and drinking water for the first three days.
Also, effecting change of address in ration cards, enrolling students in schools would be done immediately.
CHENNAI: Setting in motion the process of resettling people who had lost their hutments in areas, including the banks of River Adyar in Chennai in recent floods, Tamil Nadu Chief Minister Jayalalithaa today issued orders allotting houses for them.The government has also announced that families that relocate would get an allowance ofRs. 5,000 towards shifting expenses.
Also, a monthly sustenance dole of Rs. 2,500 for a year, job training for youth and recruitment camps for them will be held to help young men and women in families that had lost their houses.
She issued the orders allocating the houses to five beneficiaries at the Secretariat in Chennai as a token of allotment of 10,000 houses at Okkiam Thuraipakkam and Perumbakkam.
The present allotment was for those who had lost their hutments along River Adyar in recent floods.
The construction work of 10,000 houses is complete and it was done through the Tamil Nadu Slum Clearance Board, an official release in Chennai said.
Ms Jayalalithaa had announced permanent houses for those living along Adyar and Cooum rivers and Buckingham Canal. The initiative was also intended to facilitate free flow of rain water in such waterways.
She had announced building 50,000 houses under the 'Housing for All Scheme' and 50,000 houses through the Tamil Nadu Slum Clearance Board.
TNSCB, in the first phase, has completed building 10,000 houses and it has all facilities including power supply, drinking water, sewage connections, roads and storm water drain, school, healthcare centre and bus facilities, the release added.
The government said those shifting to the new area would be provided food and drinking water for the first three days.
Also, effecting change of address in ration cards, enrolling students in schools would be done immediately.
CBI Raids In Maharashtra, Odisha Over Chit Fund Scam
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NEW DELHI: The Central Bureau of Investigation (CBI) today conducted searches at 58 locations of Samruddha Jeewan Group of companies across Maharashtra and Odisha in its ongoing probe in the multi-crore chit fund scam, an official said.
The agency carried out the searches at the office premises of the Pune-based private firm and its sister companies.
The residential premises of alleged accused and suspected directors are also being searched, a CBI official said.
The raids are being conducted following two cases registered by the agency against Samruddha Group on charges of criminal conspiracy, fraudulent, criminal breach of trust, and sections of the Prevention of Corruption Act.
"Searches are being conducted at 58 locations in Maharashtra and Odisha against Samruddha Jeewan Group of companies in connection with two alleged chit fund cases," the official said.
"This is one of the chit fund companies that had allegedly collected money from common man without having any valid legal authority," the official said.
The official said the raids are being conducted at 58 locations in Pune, Nasik, Aurangabad, Solapur and Odisha.
NEW DELHI: The Central Bureau of Investigation (CBI) today conducted searches at 58 locations of Samruddha Jeewan Group of companies across Maharashtra and Odisha in its ongoing probe in the multi-crore chit fund scam, an official said.The agency carried out the searches at the office premises of the Pune-based private firm and its sister companies.
The residential premises of alleged accused and suspected directors are also being searched, a CBI official said.
The raids are being conducted following two cases registered by the agency against Samruddha Group on charges of criminal conspiracy, fraudulent, criminal breach of trust, and sections of the Prevention of Corruption Act.
"Searches are being conducted at 58 locations in Maharashtra and Odisha against Samruddha Jeewan Group of companies in connection with two alleged chit fund cases," the official said.
"This is one of the chit fund companies that had allegedly collected money from common man without having any valid legal authority," the official said.
The official said the raids are being conducted at 58 locations in Pune, Nasik, Aurangabad, Solapur and Odisha.
Business Affairs
Sensex ends a tad above 26,000, Nifty at 7,928 amid tepid global cues; Bajaj Auto top gainer
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The S&P BSE Sensex settled 45 points higher after rising as much as 99.65 points in trade on Tuesday, while broader CNX Nifty ended slightly above its key support level of 7,900.
Domestic markets traded in range as investors booked profits made in the previous session while participation remained weak, weighed by year-end holidays and the derivatives contracts expiry later this week.
The 30-share index ended the day at 26,079.48, up 45.35 points, while broad-based 50-share index quoted 7,928.95, up 3.80 points at close.
Market breadth turned positive with 18 of the 30 Sensex components ending the day in green.
Volumes are expected to be thin this week with a majority of foreign institutional investors on holiday.
Meanwhile, weak crude oil prices and caution ahead of the futures and options contracts expiry on Thursday also muted sentiment.
"It all depends on further movements in oil and metal prices. If they stabilise, it will be a boost. If they fall, then there can be some correction," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.
Bajaj Auto was the best performing stock on both benchmark indices and ended the day 2 per cent higher.
Shares of NTPC gained over 3 per cent after the company announced building of a township near its super thermal power project in Nabinagar. The thermal power project is a joint venture between NTPC and Bihar State Power Generation Company.
Among Asian markets, China's Shanghai Composite closed 0.85 per cent higher, while Hong Kong's Hang Seng index gained 0.36 per cent. Japan's Nikkei added 0.58 per cent.
Overnight, US stocks recovered to close marginally in the red after a weak opening, as traders booked profits after strong gains posted last week. Trading volumes however remained low led by the year end holiday season.
Lowdown on markets today
2:20 pm
Sensex at 26,074, up 40 points
Nifty at 7,928, up 2 points
12:47 pm
Sensex at 26,001.15, down 32.98 points
Nifty at 7,905.45, down 19.70 points
11:00 am
Sensex at 26,084 , up 50 points
Nifty at 7,932, up 7 points
9:24 am
Sensex at 26,110.31, up 76.18 points
Nifty at 7,935.40, up 10.25 points
The S&P BSE Sensex settled 45 points higher after rising as much as 99.65 points in trade on Tuesday, while broader CNX Nifty ended slightly above its key support level of 7,900.
Domestic markets traded in range as investors booked profits made in the previous session while participation remained weak, weighed by year-end holidays and the derivatives contracts expiry later this week.
The 30-share index ended the day at 26,079.48, up 45.35 points, while broad-based 50-share index quoted 7,928.95, up 3.80 points at close.
Market breadth turned positive with 18 of the 30 Sensex components ending the day in green.
Volumes are expected to be thin this week with a majority of foreign institutional investors on holiday.
Meanwhile, weak crude oil prices and caution ahead of the futures and options contracts expiry on Thursday also muted sentiment.
"It all depends on further movements in oil and metal prices. If they stabilise, it will be a boost. If they fall, then there can be some correction," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.
Bajaj Auto was the best performing stock on both benchmark indices and ended the day 2 per cent higher.
Shares of NTPC gained over 3 per cent after the company announced building of a township near its super thermal power project in Nabinagar. The thermal power project is a joint venture between NTPC and Bihar State Power Generation Company.
Among Asian markets, China's Shanghai Composite closed 0.85 per cent higher, while Hong Kong's Hang Seng index gained 0.36 per cent. Japan's Nikkei added 0.58 per cent.
Overnight, US stocks recovered to close marginally in the red after a weak opening, as traders booked profits after strong gains posted last week. Trading volumes however remained low led by the year end holiday season.
Lowdown on markets today
2:20 pm
Sensex at 26,074, up 40 points
Sensex at 26,074, up 40 points
Nifty at 7,928, up 2 points
12:47 pm
Sensex at 26,001.15, down 32.98 points
Nifty at 7,905.45, down 19.70 points
11:00 am
Sensex at 26,084 , up 50 points
Nifty at 7,932, up 7 points
9:24 am
Sensex at 26,110.31, up 76.18 points
Nifty at 7,935.40, up 10.25 points
FDI inflows surge 18% during January-September; government expects 45% jump in 2016
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Bullish on a series of reforms unveiled in the year passing-by, the government expects FDI inflows to rise by 40-45 per cent in the New Year while further steps could be on anvil to attract foreign capital.
As per the latest available figure for 2015, FDI inflows during January-September period has increased by 18 per cent to $26.51 billion.
In the entire 2014, India had received FDI worth $28.78 billion as compared to $22 billion in 2013.
"FDI will grow by 40-45 per cent in 2016 despite the global slowdown. The government has taken vast number of policy measures this year," Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant told PTI.
The sectors that have attracted maximum FDI this year include services, computer hardware and software, telecom, automobile and trading.
Singapore is the top source for FDI coming into India, followed by Mauritius, UK, Japan, the Netherlands and the US.
In a bid to streamline the FDI structure, the government this year introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits. It has also relaxed e-commerce norms for foreign companies having manufacturing facilities in India.
Kant said that the steps announced to improve ease of doing business would help India in becoming the most easiest place for investors.
He said that the government is planning to put 98 per cent of sectors, which are open to foreign investments, under the automatic route so that businessmen won't need to visit the Finance Ministry or 'Udyog Bhavan' for any approval.
India's ranking in the World Bank's report on ease of doing business improved to 130th position this year from 142nd last year out of 189 countries. The Prime Minister has set a target to bring this rank to top-50.
For the first time, states have also been ranked in terms of ease of doing business. Gujarat topped the World Bank-compiled ranking of Indian states for bringing in reforms to improve 'ease of doing business'.
Foreign Direct Investment is important for the country as it needs around $1 trillion worth investments between 2012-13 and 2016-17, the 12th Five Year Plan period, to fund infrastructure growth covering sectors such as ports, airports and highways.
Experts said there are huge expectations for a significant jump in FDI flows in 2016, but a lot would depend on the 'Make in India' programme.
"FDI should improve next year but much will depend on the performance of 'Make in India' programme in terms of more reform measures and steps to further improve ease of doing business in the country," said Krishan Malhotra of corporate law firm Shardul Amarchand and Mangaldas.
As part of the reform measures, the government has hiked foreign investment caps, opened new sectors and relaxed norms for several segments.
It permitted portfolio investors to buy up to 74 per cent in local private banks, with full fungibility, while palm, coffee and rubber plantations have been opened up for the first time.
FDI norms have also been eased in real estate, defence, civil aviation and news broadcasting sectors.
Sourcing rules for single brand retailers, particularly for high-tech, have been eased by allowing them to sell online without specific permissions. But there is no change in 51 per cent limit for multi-brand retailers like Wal-Mart.
To improve investment climate, the DIPP has taken a series of steps that include having a time line for clearance of applications, de-licensing the manufacturing of many defence products and introduction of e-Biz project for single window clearance.
Bullish on a series of reforms unveiled in the year passing-by, the government expects FDI inflows to rise by 40-45 per cent in the New Year while further steps could be on anvil to attract foreign capital.
As per the latest available figure for 2015, FDI inflows during January-September period has increased by 18 per cent to $26.51 billion.
In the entire 2014, India had received FDI worth $28.78 billion as compared to $22 billion in 2013.
"FDI will grow by 40-45 per cent in 2016 despite the global slowdown. The government has taken vast number of policy measures this year," Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant told PTI.
The sectors that have attracted maximum FDI this year include services, computer hardware and software, telecom, automobile and trading.
Singapore is the top source for FDI coming into India, followed by Mauritius, UK, Japan, the Netherlands and the US.
In a bid to streamline the FDI structure, the government this year introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits. It has also relaxed e-commerce norms for foreign companies having manufacturing facilities in India.
Kant said that the steps announced to improve ease of doing business would help India in becoming the most easiest place for investors.
He said that the government is planning to put 98 per cent of sectors, which are open to foreign investments, under the automatic route so that businessmen won't need to visit the Finance Ministry or 'Udyog Bhavan' for any approval.
India's ranking in the World Bank's report on ease of doing business improved to 130th position this year from 142nd last year out of 189 countries. The Prime Minister has set a target to bring this rank to top-50.
For the first time, states have also been ranked in terms of ease of doing business. Gujarat topped the World Bank-compiled ranking of Indian states for bringing in reforms to improve 'ease of doing business'.
Foreign Direct Investment is important for the country as it needs around $1 trillion worth investments between 2012-13 and 2016-17, the 12th Five Year Plan period, to fund infrastructure growth covering sectors such as ports, airports and highways.
Experts said there are huge expectations for a significant jump in FDI flows in 2016, but a lot would depend on the 'Make in India' programme.
"FDI should improve next year but much will depend on the performance of 'Make in India' programme in terms of more reform measures and steps to further improve ease of doing business in the country," said Krishan Malhotra of corporate law firm Shardul Amarchand and Mangaldas.
As part of the reform measures, the government has hiked foreign investment caps, opened new sectors and relaxed norms for several segments.
It permitted portfolio investors to buy up to 74 per cent in local private banks, with full fungibility, while palm, coffee and rubber plantations have been opened up for the first time.
FDI norms have also been eased in real estate, defence, civil aviation and news broadcasting sectors.
Sourcing rules for single brand retailers, particularly for high-tech, have been eased by allowing them to sell online without specific permissions. But there is no change in 51 per cent limit for multi-brand retailers like Wal-Mart.
To improve investment climate, the DIPP has taken a series of steps that include having a time line for clearance of applications, de-licensing the manufacturing of many defence products and introduction of e-Biz project for single window clearance.
Telcos cross 100-cr subscriber mark in 2015
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It was a towering feat for the telecom industry in 2015 to cross 100-crore subscriber mark, but the call drop menace spoiled the party and the operators are now pulling up their socks to face greater competition with the imminent entry of Reliance Jio in 2016.
It took a rap on the knuckles by the government for the mobile operators to beef up their network performance, which still remains far from the optimal levels with dropped calls still remaining a problem in many areas.
The government is however are hopeful that the problem of call drops will become a thing of past in the new year with the operators putting up more towers, while more spectrum could also be made available to them at the earliest.
The government will try to auction spectrum as soon as possible depending upon Trai's recommendations, Telecom Minister Ravi Shankar Prasad told PTI.
He, however, added that the scarcity of airwaves is not an issue as spectrum sharing and trading guidelines are already in place that can be used by operators to augment their services. The New Year can also bring in many more new services for the customers at affordable rates. With the government framing a new policy for additional features on mobile phones, customers will be able to communicate in their local languages and access services like e-payment through their phones.
PM has said governance must be available on the mobile phone so we are going to have a good initiative to encourage mobile phone operators by a suitable policy framework to have further features like e-payment, governance issues etc on mobile phones, Prasad said.
For the industry, 2016 can be a 'make or break year' where resolution of issues around call drops, net neutrality debate and availability of spectrum will be critical. Still, consumers can expect to save on mobile bills with availability of public wifi and pressure on internet rates due to expected entry of pan-India 4G player Reliance Jio. Also, most of the incumbent players including Bharti Airtel, Vodafone and Idea Cellular have already their launched the 4G services.
Though data usage of consumers is likely to see a significant increase, the spending may not be in proportion to the usage with availability of public wifi. The pricing would be under pressure and 2016 could see intense completion on the price front, both for data and voice.
Intense completion may give rise to innovative tariff plans including bundling offers, etc, Deloitte Haskins & Sells LLP Partner Hemant Joshi said. The trend is expected to put pressure on financial health of telecom operators as the government has been talking tough on issues like quality of service and call drops and wants the companies to enhance their investment on infrastructure. Bharti Airtel announced an investment to the tune of Rs 60,000 crore in networks over a period of next three years.
It was a towering feat for the telecom industry in 2015 to cross 100-crore subscriber mark, but the call drop menace spoiled the party and the operators are now pulling up their socks to face greater competition with the imminent entry of Reliance Jio in 2016.
It took a rap on the knuckles by the government for the mobile operators to beef up their network performance, which still remains far from the optimal levels with dropped calls still remaining a problem in many areas.
The government is however are hopeful that the problem of call drops will become a thing of past in the new year with the operators putting up more towers, while more spectrum could also be made available to them at the earliest.
The government will try to auction spectrum as soon as possible depending upon Trai's recommendations, Telecom Minister Ravi Shankar Prasad told PTI.
He, however, added that the scarcity of airwaves is not an issue as spectrum sharing and trading guidelines are already in place that can be used by operators to augment their services. The New Year can also bring in many more new services for the customers at affordable rates. With the government framing a new policy for additional features on mobile phones, customers will be able to communicate in their local languages and access services like e-payment through their phones.
PM has said governance must be available on the mobile phone so we are going to have a good initiative to encourage mobile phone operators by a suitable policy framework to have further features like e-payment, governance issues etc on mobile phones, Prasad said.
For the industry, 2016 can be a 'make or break year' where resolution of issues around call drops, net neutrality debate and availability of spectrum will be critical. Still, consumers can expect to save on mobile bills with availability of public wifi and pressure on internet rates due to expected entry of pan-India 4G player Reliance Jio. Also, most of the incumbent players including Bharti Airtel, Vodafone and Idea Cellular have already their launched the 4G services.
Though data usage of consumers is likely to see a significant increase, the spending may not be in proportion to the usage with availability of public wifi. The pricing would be under pressure and 2016 could see intense completion on the price front, both for data and voice.
Intense completion may give rise to innovative tariff plans including bundling offers, etc, Deloitte Haskins & Sells LLP Partner Hemant Joshi said. The trend is expected to put pressure on financial health of telecom operators as the government has been talking tough on issues like quality of service and call drops and wants the companies to enhance their investment on infrastructure. Bharti Airtel announced an investment to the tune of Rs 60,000 crore in networks over a period of next three years.
Reliance MF ups stake to 8% in Indian Hotels
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Reliance Mutual Fund has hiked stake in Tatas-run Indian Hotels to nearly 8 per cent, making the hospitality sector another key area with significant investments by the two Ambani groups.
Elder Ambani sibling Mukesh-led Reliance Industries group is already a major investor in EIH Ltd, the main listed entity from Oberoi group that runs a chain of luxury hotels.
While RIL group firm Reliance Industrial Investments And Holdings Ltd owns a 18.53 per cent stake in EIH Ltd, a small 2.12 per cent stake is also held in the company as a financial investment by Reliance Mutual Fund, which is part of younger Ambani sibling Anil-led Reliance Group.
Expanding its exposure to the hospitality sector, Reliance MF has now increased stake in Indian Hotels Company to 8 per cent through multiple share purchases over the recent months, sources close to the fund house said.
As per the latest available shareholding pattern of Indian Hotels on the BSE website, Reliance MF held 5.42 per cent stake in the company through two separate funds as on September 30, 2015. The total stake of the fund house has now reached near 8 per cent which is a financial investment made by a mutual fund, sources added.
Other major investors in the company include LIC, Franklin Templeton, as also multiple insurers such as General Insurance Corporation of India, New India Assurance and ICICI Prudential Life Insurance.
LIC, New India Assurance and General Insurance Corporation Of India also figure among the major shareholders in EIH Ltd, where Reliance Industries group had acquired stake a few years ago as a 'white knight' or a 'friendly investor' to the promoters to thwart a takeover bid from rival ITC Ltd.
ITC continues to hold 14.98 per cent stake in EIH Ltd.
Lately, the two Reliance groups have been bolstering their positions in their respective businesses. Some of the common sectors where both the groups have significant exposure include telecom, media and defence.
The launch of Reliance Jio by RIL group this weekend saw a family reunion of sorts for the two billionaire brothers as the event was also attended by Anil Ambani, his wife Tina Ambani and sons Anmol and Anshul.
In 2003, Mukesh Ambani had launched Reliance's CDMA mobile business, but that business went to Anil after family split and is now known as Reliance Communications.
The two brothers have already come together for sharing of mobile airwaves or spectrum as well as infrastructure like mobile towers and masts.
Jio has also partnered Reliance Communications, India's fourth-biggest mobile phone carrier, for sharing of mobile masts and leasing of optic fibre network.
The partnership brought together the once-feuding Ambani brothers who had gone separate ways a few years after death of their father Dhirubhai Ambani in 2002. The erstwhile Reliance empire was split between the two in 2005.
In their telecom partnership, Anil's Reliance Communications will access 4G mobile networks of Jio, which, in turn, can use the former's 2G and 3G networks when needed.
Reliance Communications will also enter into a pact with Jio for trading and sharing of 4G mobile radiowaves.
Reliance Mutual Fund has hiked stake in Tatas-run Indian Hotels to nearly 8 per cent, making the hospitality sector another key area with significant investments by the two Ambani groups.
Elder Ambani sibling Mukesh-led Reliance Industries group is already a major investor in EIH Ltd, the main listed entity from Oberoi group that runs a chain of luxury hotels.
While RIL group firm Reliance Industrial Investments And Holdings Ltd owns a 18.53 per cent stake in EIH Ltd, a small 2.12 per cent stake is also held in the company as a financial investment by Reliance Mutual Fund, which is part of younger Ambani sibling Anil-led Reliance Group.
Expanding its exposure to the hospitality sector, Reliance MF has now increased stake in Indian Hotels Company to 8 per cent through multiple share purchases over the recent months, sources close to the fund house said.
As per the latest available shareholding pattern of Indian Hotels on the BSE website, Reliance MF held 5.42 per cent stake in the company through two separate funds as on September 30, 2015. The total stake of the fund house has now reached near 8 per cent which is a financial investment made by a mutual fund, sources added.
Other major investors in the company include LIC, Franklin Templeton, as also multiple insurers such as General Insurance Corporation of India, New India Assurance and ICICI Prudential Life Insurance.
LIC, New India Assurance and General Insurance Corporation Of India also figure among the major shareholders in EIH Ltd, where Reliance Industries group had acquired stake a few years ago as a 'white knight' or a 'friendly investor' to the promoters to thwart a takeover bid from rival ITC Ltd.
ITC continues to hold 14.98 per cent stake in EIH Ltd.
Lately, the two Reliance groups have been bolstering their positions in their respective businesses. Some of the common sectors where both the groups have significant exposure include telecom, media and defence.
The launch of Reliance Jio by RIL group this weekend saw a family reunion of sorts for the two billionaire brothers as the event was also attended by Anil Ambani, his wife Tina Ambani and sons Anmol and Anshul.
In 2003, Mukesh Ambani had launched Reliance's CDMA mobile business, but that business went to Anil after family split and is now known as Reliance Communications.
The two brothers have already come together for sharing of mobile airwaves or spectrum as well as infrastructure like mobile towers and masts.
Jio has also partnered Reliance Communications, India's fourth-biggest mobile phone carrier, for sharing of mobile masts and leasing of optic fibre network.
The partnership brought together the once-feuding Ambani brothers who had gone separate ways a few years after death of their father Dhirubhai Ambani in 2002. The erstwhile Reliance empire was split between the two in 2005.
In their telecom partnership, Anil's Reliance Communications will access 4G mobile networks of Jio, which, in turn, can use the former's 2G and 3G networks when needed.
Reliance Communications will also enter into a pact with Jio for trading and sharing of 4G mobile radiowaves.
Inflation under check in 2015; Kitchen staples beg to differ
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When it comes to inflation, the year 2015 has shown that the macroeconomic data points may not always show the real picture and the cases in point relate to quite a few kitchen staples such as potato, onions and pulses.
For records, the Consumer Price Inflation has remained well under control hovering in the range of 3.66-5.4 per cent so far in 2014, while the industry chambers and some other experts are hopeful that it would keep below 6 per cent mark in the New Year - a target set by the Reserve Bank.
However, the consumers saw an altogether different story in 2016 when they went to the shops to purchase some staple grocery and vegetable items for a good part of the year.
While onion prices again brought tears to the eyes of consumers, prices of tur dal touched record high levels above Rs 200 a kilogram.
Another dataset, the Wholesale Price Index (WPI) based inflation in fact stayed in the negative zone for the entire year, meaning the wholesale prices actually fell and there was no inflation at all.
While it entered the negative zone in November 2014, the WPI inflation stood at (-)3.8 per cent in October 2015.
On the future datapoints, the industry chambers expect the prices to stabilise in the New Year although WPI may come back to the positive territory.
"During 2016, prices are likely to stabilise as industries continue to operate below full capacity. With industrial prices no longer falling, WPI inflation is likely to rise to positive territory while CPI inflation will likely remain in a band of 5-5.5 per cent, CII Director General Chandrajit Banerjee said.
"RBI's target of 6 per cent by January 2016 will be easily met. In fact, inflation is likely to moderate from current levels as measures are taken to moderate the prices of pulses which had shot up on account of deficient rains", he added.
International crude oil prices, which plunged to historic lows on a supply glut during the year, helped India reduce its oil imports bill and consequently commodities' transport cost.
RBI has however cautioned that while oil prices, barring geopolitical shocks, are expected to remain benign for a few more quarters, the uptick of CPI inflation excluding food and fuel for two months in succession warrants vigilance.
When it comes to inflation, the year 2015 has shown that the macroeconomic data points may not always show the real picture and the cases in point relate to quite a few kitchen staples such as potato, onions and pulses.
For records, the Consumer Price Inflation has remained well under control hovering in the range of 3.66-5.4 per cent so far in 2014, while the industry chambers and some other experts are hopeful that it would keep below 6 per cent mark in the New Year - a target set by the Reserve Bank.
However, the consumers saw an altogether different story in 2016 when they went to the shops to purchase some staple grocery and vegetable items for a good part of the year.
While onion prices again brought tears to the eyes of consumers, prices of tur dal touched record high levels above Rs 200 a kilogram.
Another dataset, the Wholesale Price Index (WPI) based inflation in fact stayed in the negative zone for the entire year, meaning the wholesale prices actually fell and there was no inflation at all.
While it entered the negative zone in November 2014, the WPI inflation stood at (-)3.8 per cent in October 2015.
On the future datapoints, the industry chambers expect the prices to stabilise in the New Year although WPI may come back to the positive territory.
"During 2016, prices are likely to stabilise as industries continue to operate below full capacity. With industrial prices no longer falling, WPI inflation is likely to rise to positive territory while CPI inflation will likely remain in a band of 5-5.5 per cent, CII Director General Chandrajit Banerjee said.
"RBI's target of 6 per cent by January 2016 will be easily met. In fact, inflation is likely to moderate from current levels as measures are taken to moderate the prices of pulses which had shot up on account of deficient rains", he added.
International crude oil prices, which plunged to historic lows on a supply glut during the year, helped India reduce its oil imports bill and consequently commodities' transport cost.
RBI has however cautioned that while oil prices, barring geopolitical shocks, are expected to remain benign for a few more quarters, the uptick of CPI inflation excluding food and fuel for two months in succession warrants vigilance.
General Awareness
India may be 3rd largest economy after 2030: Study
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According to a report by the UK think tank Centre for Economics Business and Research (CEBR), India could become the world’s third largest economy after 2030.
- India’s projected GDP in 2030 was USD 10,133 billion, behind China’s USD 34,338 bn and America’s USD 32,996 bn.
Key Highlights of Study
- India will become the largest economy in the Commonwealth in 2019 when it overtakes the British economy.
- India is finally starting to catch up with China and will eventually overtake the communist-giant in the second half of the century.
- Britain will move up to take 4th spot and Brazil will complete the top five.
- As Brazil and India meet the political criteria for membership of the exclusive G8 club of developed democracies, their ascension could see France and Italy kicked out of the group or the club expanded to a G10 as more economies join.
- The UK is set to become the best performing economy in the western world over the next 15 years, boosted by its leading position in global software and IT sectors.
- Europe’s largest economy, Germany will maintain its position in the world’s leading economies as its declining population receives a welcome boost of a 5 million refugees and migrants.
- According to a report by the UK think tank Centre for Economics Business and Research (CEBR), India could become the world’s third largest economy after 2030.
- India’s projected GDP in 2030 was USD 10,133 billion, behind China’s USD 34,338 bn and America’s USD 32,996 bn.
- India will become the largest economy in the Commonwealth in 2019 when it overtakes the British economy.
- India is finally starting to catch up with China and will eventually overtake the communist-giant in the second half of the century.
- Britain will move up to take 4th spot and Brazil will complete the top five.
- As Brazil and India meet the political criteria for membership of the exclusive G8 club of developed democracies, their ascension could see France and Italy kicked out of the group or the club expanded to a G10 as more economies join.
- The UK is set to become the best performing economy in the western world over the next 15 years, boosted by its leading position in global software and IT sectors.
- Europe’s largest economy, Germany will maintain its position in the world’s leading economies as its declining population receives a welcome boost of a 5 million refugees and migrants.
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