General Affairs
Decision Making Should Be Accommodative: President Pranab Mukherjee
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NEW DELHI: In an apparent message to law makers and Government against the backdrop of the stalled Goods and Services Tax (GST) Bill, President Pranab Mukherjee today said it was their duty to ensure reforms and enactment of progressive legislations for which a spirit of accommodation and consensus building should be the preferred mode of decision making.
For revitalising the forces of growth, the President said there is need for reforms and progressive legislation.
"It is the bounden duty of the law makers to ensure that such legislation is enacted after due discussion and debate. A spirit of accommodation, cooperation and consensus-building should be the preferred mode of decision-making. Delays in decision-making and implementation can only harm the process of development," he said in his address to the nation on the eve of 67th Republic Day.
The President's remarks assume significance in the context of the deadlock over the Constitution amendment bill on the GST following Congress' three main demands which the Government has refused to concede.
The President said last year the country was denied the bounty of nature with large parts of India affected by severe drought, other areas reeled under devastating floods.
Unusual weather conditions impacted agricultural production. Rural employment and income levels suffered, President Mukherjee said.
"The year 2015 has been a year of challenges during which the global economy remained subdued. Unpredictability ruled the commodity markets. Uncertainty marked the institutional responses. In such troubled environment, no one nation could be an oasis of growth.
"India's economy also had to face the blowback. Weak investor sentiments led to withdrawal of funds from emerging markets including India putting pressure on the Indian rupee. Our exports suffered. Our manufacturing sector is yet to recover fully," he said.
The President said this year, with an estimated growth rate of 7.3 per cent, India is poised to become the fastest growing large economy.
"Contraction in global oil prices has helped maintain external sector stability and control domestic prices. Despite occasional setbacks, industrial performance this year has been strong," President Mukherjee said.
The President said the advent of the "Fourth Industrial Revolution" demands that free and creative man should also be able to master the velocity of change to absorb disruptions which are getting embedded in the systems and societies.
"An eco-system that fosters critical thinking and makes teaching intellectually stimulating is necessary. It must inspire scholarship and encourage unfettered respect for knowledge and teachers," he said.
President Mukherjee said it must instill a spirit of reverence towards women that will guide social conduct of an individual throughout his life.
"It must breed a culture of deep thought and create an environment of contemplation and inner peace. Through an open-minded approach to the wider spectrum of ideas emanating from within, our academic institutions must become world-class," he said.
Cautioning on the alarming levels of pollution in cities, the President said everyone has the right to lead a healthy, happy and productive life in India.
"This right has been breached, especially in our cities, where pollution has reached alarming levels. Climate change has acquired real meaning with 2015 turning out to be the warmest year on record," he said.
President Mukherjee said multiple strategies and action at various levels is necessary.
"Innovative solutions of urban planning, use of clean energy, and changing the mindsets of the people call for active participation of all stakeholders. Permanence of such changes can be ensured only if people own these change," he said.
NEW DELHI: In an apparent message to law makers and Government against the backdrop of the stalled Goods and Services Tax (GST) Bill, President Pranab Mukherjee today said it was their duty to ensure reforms and enactment of progressive legislations for which a spirit of accommodation and consensus building should be the preferred mode of decision making.For revitalising the forces of growth, the President said there is need for reforms and progressive legislation.
"It is the bounden duty of the law makers to ensure that such legislation is enacted after due discussion and debate. A spirit of accommodation, cooperation and consensus-building should be the preferred mode of decision-making. Delays in decision-making and implementation can only harm the process of development," he said in his address to the nation on the eve of 67th Republic Day.
The President said last year the country was denied the bounty of nature with large parts of India affected by severe drought, other areas reeled under devastating floods.
Unusual weather conditions impacted agricultural production. Rural employment and income levels suffered, President Mukherjee said.
"The year 2015 has been a year of challenges during which the global economy remained subdued. Unpredictability ruled the commodity markets. Uncertainty marked the institutional responses. In such troubled environment, no one nation could be an oasis of growth.
"India's economy also had to face the blowback. Weak investor sentiments led to withdrawal of funds from emerging markets including India putting pressure on the Indian rupee. Our exports suffered. Our manufacturing sector is yet to recover fully," he said.
The President said this year, with an estimated growth rate of 7.3 per cent, India is poised to become the fastest growing large economy.
"Contraction in global oil prices has helped maintain external sector stability and control domestic prices. Despite occasional setbacks, industrial performance this year has been strong," President Mukherjee said.
The President said the advent of the "Fourth Industrial Revolution" demands that free and creative man should also be able to master the velocity of change to absorb disruptions which are getting embedded in the systems and societies.
"An eco-system that fosters critical thinking and makes teaching intellectually stimulating is necessary. It must inspire scholarship and encourage unfettered respect for knowledge and teachers," he said.
President Mukherjee said it must instill a spirit of reverence towards women that will guide social conduct of an individual throughout his life.
"It must breed a culture of deep thought and create an environment of contemplation and inner peace. Through an open-minded approach to the wider spectrum of ideas emanating from within, our academic institutions must become world-class," he said.
Cautioning on the alarming levels of pollution in cities, the President said everyone has the right to lead a healthy, happy and productive life in India.
"This right has been breached, especially in our cities, where pollution has reached alarming levels. Climate change has acquired real meaning with 2015 turning out to be the warmest year on record," he said.
President Mukherjee said multiple strategies and action at various levels is necessary.
"Innovative solutions of urban planning, use of clean energy, and changing the mindsets of the people call for active participation of all stakeholders. Permanence of such changes can be ensured only if people own these change," he said.
India Gears Up For Republic Day Celebrations Amidst Tight Security
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NEW DELHI: Elaborate security arrangements were in place across the country for the Republic Day celebrations tomorrow with police in the national capital and neighbouring states keeping an eye out on "drones", which have been perceived as a major threat.
The national capital is already on high alert ahead of the official celebrations here -- where French President Francois Hollande is the Chief Guest -- after inputs were received about the presence of key members of several terror outfits in Delhi.
In the national capital, as many as 71 high-rise buildings in the vicinity of Rajpath will be shut down either partially or completely tomorrow in view of the Republic Day parade.
Delhi Police Chief BS Bassi had asked his force and police departments of the neighbouring states to keep a vigilant eye on drones, as they have been perceived as a major threat to security, according to a senior police official.
The matter attained priority after a UAV was spotted near IGI Airport in New Delhi around three months ago but its source or handler could not be tracked by the police, following which Delhi Police announced a reward of Rs. 1 lakh last month for any information about it.
State capitals and major cities across the country have seen security being beefed up at vulnerable places and key installations.
In Punjab, which was recently shaken by the strike at the Pathankot air force base, additional personnel have been posted at bus stands, railway stations and government buildings, officials said.
Similar arrangements are in place in Haryana and the Union Territory of Chandigarh. Both states and Chandigarh are on high alert following the terror attack at Pathankot.
In Jammu and Kashmir, security has been stepped up across the Valley to thwart any plan by militants to disrupt the celebrations.
Police and paramilitary CRPF personnel have been deployed in Srinagar and at entry points to the summer capital of the state, police said, adding that barricades have been erected for carrying out random searches of vehicles entering the city.
Police personnel have been carrying out area domination exercises in the areas around Bakshi Stadium in Srinagar, where the Valley's main parade will be held on Tuesday, and around the venues at district headquarters, they said.
NEW DELHI: Elaborate security arrangements were in place across the country for the Republic Day celebrations tomorrow with police in the national capital and neighbouring states keeping an eye out on "drones", which have been perceived as a major threat.The national capital is already on high alert ahead of the official celebrations here -- where French President Francois Hollande is the Chief Guest -- after inputs were received about the presence of key members of several terror outfits in Delhi.
In the national capital, as many as 71 high-rise buildings in the vicinity of Rajpath will be shut down either partially or completely tomorrow in view of the Republic Day parade.
Delhi Police Chief BS Bassi had asked his force and police departments of the neighbouring states to keep a vigilant eye on drones, as they have been perceived as a major threat to security, according to a senior police official.
The matter attained priority after a UAV was spotted near IGI Airport in New Delhi around three months ago but its source or handler could not be tracked by the police, following which Delhi Police announced a reward of Rs. 1 lakh last month for any information about it.
State capitals and major cities across the country have seen security being beefed up at vulnerable places and key installations.
In Punjab, which was recently shaken by the strike at the Pathankot air force base, additional personnel have been posted at bus stands, railway stations and government buildings, officials said.
Similar arrangements are in place in Haryana and the Union Territory of Chandigarh. Both states and Chandigarh are on high alert following the terror attack at Pathankot.
In Jammu and Kashmir, security has been stepped up across the Valley to thwart any plan by militants to disrupt the celebrations.
Police and paramilitary CRPF personnel have been deployed in Srinagar and at entry points to the summer capital of the state, police said, adding that barricades have been erected for carrying out random searches of vehicles entering the city.
Police personnel have been carrying out area domination exercises in the areas around Bakshi Stadium in Srinagar, where the Valley's main parade will be held on Tuesday, and around the venues at district headquarters, they said.
Government To Challenge All Court Orders Favouring Employees
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NEW DELHI: All court orders that favour employees and quash government policies will be challenged, as per draft guidelines finalised by the Centre.
The move comes as various ministries are making several references to the Department of Personnel and Training (DoPT) seeking interpretation of existing guidelines "without exercising due diligence".
The ministries are advised not to make any references unless there are difficulties relating to interpretation or application of these guidelines or any relaxation in rules or instructions is warranted to mitigate a genuine hardship faced the government servant, the DoPT has said in the draft guidelines.
In case where the judgement has gone in favour of applicant or petitioner and a scheme or guidelines outlining government policy has been quashed, "the administrative department may take a decision to file Writ Petition or Special leave Petition (as the case may be) in consultation with DoPT and Department of Legal Affairs (DoLA)", it reads.
Citing existing instructions, the DoPT said a common counter reply should be filed before a court of law on behalf of the Union of India by the concerned administrative department or ministry where the petitioner is serving or has last served.
"A unified stand should be adopted instead of bringing out each department's or ministry's point of view in the said reply. It further provides that it is primarily the responsibility of the administrative ministry to ensure that timely action is taken at each stage a court case goes through and that a unified stand is adopted on behalf of government of India at every such stage," the DoPT said.
In no case should the litigation be allowed to prolong to the extent that it results in contempt proceedings, it said.
In case where the policy of DoPT has not been quashed, but the judgement or order of court or a tribunal has gone in favour of respondents or applicants, "the administrative department may take a decision to file Writ Petition or Special Leave Petition (as the case may be) in consultation with DoPT and DoLA", the draft proposal said.
The DoPT has sought comments on these guidelines from all ministries by February 5.
NEW DELHI: All court orders that favour employees and quash government policies will be challenged, as per draft guidelines finalised by the Centre.The move comes as various ministries are making several references to the Department of Personnel and Training (DoPT) seeking interpretation of existing guidelines "without exercising due diligence".
In case where the judgement has gone in favour of applicant or petitioner and a scheme or guidelines outlining government policy has been quashed, "the administrative department may take a decision to file Writ Petition or Special leave Petition (as the case may be) in consultation with DoPT and Department of Legal Affairs (DoLA)", it reads.
Citing existing instructions, the DoPT said a common counter reply should be filed before a court of law on behalf of the Union of India by the concerned administrative department or ministry where the petitioner is serving or has last served.
"A unified stand should be adopted instead of bringing out each department's or ministry's point of view in the said reply. It further provides that it is primarily the responsibility of the administrative ministry to ensure that timely action is taken at each stage a court case goes through and that a unified stand is adopted on behalf of government of India at every such stage," the DoPT said.
In no case should the litigation be allowed to prolong to the extent that it results in contempt proceedings, it said.
In case where the policy of DoPT has not been quashed, but the judgement or order of court or a tribunal has gone in favour of respondents or applicants, "the administrative department may take a decision to file Writ Petition or Special Leave Petition (as the case may be) in consultation with DoPT and DoLA", the draft proposal said.
The DoPT has sought comments on these guidelines from all ministries by February 5.
Congress Failed To Protect Constitution In Arunachal Pradesh, Says BJP
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NEW DELHI: The BJP today accused the Congress of having failed to protect the Constitution in Arunachal Pradesh and said the ruling party in the state has lost the constitutional authority to remain in power.
"Politically, this is an internal matter of the Congress and constitutionally, in either of the way in which the decision is pending in the Supreme Court, they have lost the constitutional authority to be in the government in Arunachal Pradesh," BJP spokesperson Sudhanshu Trivedi told reporters.
"And morally, I would like to ask one question -- Why are you (Congress) running away from calling the house and proving majority or going for a floor test?"
"In fact, you are not able to convene your own legislative party meeting itself," he added.
The BJP leader also accused the Congress of misleading the nation over the issue.
"They will reach the Supreme Court. They will reach the President but they will not convene the (assembly) session and not even the legislature party meeting. The Congress should refrain from making political statements as the case is pending before the constitutional bench of the Supreme Court," he said.
Mr Trivedi said that constitutionally, there was a provision that any government cannot remain in power if it is not able to conduct the next session of the assembly within six months after the conclusion of the previous session.
"The previous session of the Arunachal Pradesh assembly ended on July 21, and a session must be convened before January 21," he said.
NEW DELHI: The BJP today accused the Congress of having failed to protect the Constitution in Arunachal Pradesh and said the ruling party in the state has lost the constitutional authority to remain in power."Politically, this is an internal matter of the Congress and constitutionally, in either of the way in which the decision is pending in the Supreme Court, they have lost the constitutional authority to be in the government in Arunachal Pradesh," BJP spokesperson Sudhanshu Trivedi told reporters.
"And morally, I would like to ask one question -- Why are you (Congress) running away from calling the house and proving majority or going for a floor test?"
"In fact, you are not able to convene your own legislative party meeting itself," he added.
The BJP leader also accused the Congress of misleading the nation over the issue.
"They will reach the Supreme Court. They will reach the President but they will not convene the (assembly) session and not even the legislature party meeting. The Congress should refrain from making political statements as the case is pending before the constitutional bench of the Supreme Court," he said.
Mr Trivedi said that constitutionally, there was a provision that any government cannot remain in power if it is not able to conduct the next session of the assembly within six months after the conclusion of the previous session.
"The previous session of the Arunachal Pradesh assembly ended on July 21, and a session must be convened before January 21," he said.
Russia Invites Japan To Fish Around Disputed Islands
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DAVOS, SWITZERLAND: Russia is inviting foreign partners to help it develop fisheries around Pacific islands where Moscow and Tokyo have rival territorial claims and says it will give Tokyo priority; but if it doesn't jump at the chance, other investors will.
President Vladimir Putin's special envoy for Russia's Far Eastern region Yuri Trutnev said the offer was part of a broader plan to develop a huge territory rich in resources but poorly developed and lacking infrastructure from roads and labour to communications. A farming project with China was also proposed.
Disputes over the islands known as the Kuriles in Russia and the Northern Territories in Japan have strained relations between the two countries since World War Two, when Soviet forces occupied four of them at the southern end of the chain.
Moscow has angered Tokyo in recent years by having state officials visit the islands, situated seven time zones from the Russian capital, and stepping up military activities there. Japan says the islands are part of its territory, lying at their southernmost reach less than 20 Km (12 miles) from Hokkaido.
"We want to develop the Kuriles at a brisk pace," Russian Deputy Prime Minister Trutnev told Reuters on the sidelines of the World Economic Forum in Davos.
"The conditions are ideal there for fishing and fish farming. So we are inviting Japanese companies, and are ready to give them priority in joint ventures ..."
"But if they turn it down - we will find others who are willing to work with us. And I know that it can be of great interest to other foreign investors," he said.
Japan has shown no interest in such offers in the past, eschewing any action that would imply Russian sovereignty.
Trutnev said Russia, the world's biggest country by territory with one of the world's longest coastlines, is responsible for only 2 percent of global fish farming and should boost this industry by several times.
FARMING WITH CHINA
Trutnev is overseeing some 80 new projects in the Far East as part of Putin's plan to develop the territory.
Inside Russia, a project that is making waves is a plan for a $10 billion agricultural joint venture with China, which would help farm new territories.
Many Russians disapprove of any encroachment by China, with its appetite for natural resources, on a Russian Far East rich in reserves from timber and water to gas and minerals. Some fear the territories could in the course of time be lost to Moscow's control.
Trutnev says he understands the project is facing some opposition in Russia: "But to live in harmony you need to cooperate.
The lack of cooperation only leads to higher risks."
"We need to put together very concrete terms - how much land can be farmed, the quality of soil, what will be planted ..."
He said Chinese investors would be obliged to hire an 80 per cent Russian workforce and many top managers should also be Russians.
China would benefit by boosting its food security while Russia would develop new territories and create new jobs. A recent steep rouble devaluation as a result of low oil prices has made many projects cheaper for foreign investors, Trutnev said.
"There is no other place on the planet with such a huge and sparsely populated territory ... China has significant water supply problems while we possess 37 per cent of water resources of the Asia-Pacific region," he said.
DAVOS, SWITZERLAND: Russia is inviting foreign partners to help it develop fisheries around Pacific islands where Moscow and Tokyo have rival territorial claims and says it will give Tokyo priority; but if it doesn't jump at the chance, other investors will.President Vladimir Putin's special envoy for Russia's Far Eastern region Yuri Trutnev said the offer was part of a broader plan to develop a huge territory rich in resources but poorly developed and lacking infrastructure from roads and labour to communications. A farming project with China was also proposed.
Disputes over the islands known as the Kuriles in Russia and the Northern Territories in Japan have strained relations between the two countries since World War Two, when Soviet forces occupied four of them at the southern end of the chain.
"We want to develop the Kuriles at a brisk pace," Russian Deputy Prime Minister Trutnev told Reuters on the sidelines of the World Economic Forum in Davos.
"The conditions are ideal there for fishing and fish farming. So we are inviting Japanese companies, and are ready to give them priority in joint ventures ..."
"But if they turn it down - we will find others who are willing to work with us. And I know that it can be of great interest to other foreign investors," he said.
Japan has shown no interest in such offers in the past, eschewing any action that would imply Russian sovereignty.
Trutnev said Russia, the world's biggest country by territory with one of the world's longest coastlines, is responsible for only 2 percent of global fish farming and should boost this industry by several times.
FARMING WITH CHINA
Trutnev is overseeing some 80 new projects in the Far East as part of Putin's plan to develop the territory.
Inside Russia, a project that is making waves is a plan for a $10 billion agricultural joint venture with China, which would help farm new territories.
Many Russians disapprove of any encroachment by China, with its appetite for natural resources, on a Russian Far East rich in reserves from timber and water to gas and minerals. Some fear the territories could in the course of time be lost to Moscow's control.
Trutnev says he understands the project is facing some opposition in Russia: "But to live in harmony you need to cooperate.
The lack of cooperation only leads to higher risks."
"We need to put together very concrete terms - how much land can be farmed, the quality of soil, what will be planted ..."
He said Chinese investors would be obliged to hire an 80 per cent Russian workforce and many top managers should also be Russians.
China would benefit by boosting its food security while Russia would develop new territories and create new jobs. A recent steep rouble devaluation as a result of low oil prices has made many projects cheaper for foreign investors, Trutnev said.
"There is no other place on the planet with such a huge and sparsely populated territory ... China has significant water supply problems while we possess 37 per cent of water resources of the Asia-Pacific region," he said.
Business Affairs
Sensex closes 50 points up on firm oil prices, stable rupee
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Positive global indices, coupled with firm crude oil prices and as table rupee, supported the upward movement of the Indian equity markets during on Monday.
Initially, both the bellwether indices opened on a positive note in sync with their Asian peers. Even the firm closing of the domestic and the US markets last week supported the upward trajectory.
Moreover, the short-covering rally was supported by firm oil prices and a stable rupee. It gained eight paise at the opening. It started the week at 67.55 to a US dollar from its previous close of 67.63 to a greenback.
Further, expectations of an additional stimulus from the ECB (European Central Bank) by March this year boosted investors confidence.
However, gains were capped by profit bookings and caution over the upcoming rate setting meeting of the FOMC (Federal Open Market Committee) scheduled for January 27-28.
The FOMC assumes significance as higher interest rates in the US are expected to lead away FPIs (Foreign Portfolio Investors) from emerging markets such as India.
In addition, selling pressure was witnessed on account of the F&O (Futures and Options) expiry slated for Thursday.
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) gained 50.29 points or 0.21 per cent at close.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 13.70 points or 0.18 per cent up at 7,436.15 points.
The S&P BSE Sensex, which opened at 24,540.97 points, closed at 24,485.95 from the previous day's close at 24,435.66 points.
"Firm closing from last week and positive Asian markets today supported the Indian market gains. Even the positive sentiments eminating out of last week's Chinese macro-data and ECB's announcements restored the risk taking appetite of investors," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS.
"Rupee and oil, both being on a firm note have boosted sentiments," James said.
Vaibhav Agarwal, vice president and research head at Angel Broking, elaborated that profit booking at higher levels and weak opening in Europe has resulted in markets giving up early gains.
"The broader markets however continue to remain positive with the small cap index up significantly higher than the benchmarks," Agarwal explained.
"In the absence of any major trigger, we expect markets to continue to react to global cues with some selling pressure ahead of the F&O expiry," Agarwal said.
Nitasha Shankar, vice president for research with YES Securities, cited healthy buying activity in high beta stocks.
"Banking stocks continue to see short covering rally. Barring the FMCG (fast moving consumer goods) index, all major indices are trading higher with decent gains. Metal, pharma and reality stocks are outperforming," Shankar noted.
Positive global indices, coupled with firm crude oil prices and as table rupee, supported the upward movement of the Indian equity markets during on Monday.
Initially, both the bellwether indices opened on a positive note in sync with their Asian peers. Even the firm closing of the domestic and the US markets last week supported the upward trajectory.
Moreover, the short-covering rally was supported by firm oil prices and a stable rupee. It gained eight paise at the opening. It started the week at 67.55 to a US dollar from its previous close of 67.63 to a greenback.
Further, expectations of an additional stimulus from the ECB (European Central Bank) by March this year boosted investors confidence.
However, gains were capped by profit bookings and caution over the upcoming rate setting meeting of the FOMC (Federal Open Market Committee) scheduled for January 27-28.
The FOMC assumes significance as higher interest rates in the US are expected to lead away FPIs (Foreign Portfolio Investors) from emerging markets such as India.
In addition, selling pressure was witnessed on account of the F&O (Futures and Options) expiry slated for Thursday.
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) gained 50.29 points or 0.21 per cent at close.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 13.70 points or 0.18 per cent up at 7,436.15 points.
The S&P BSE Sensex, which opened at 24,540.97 points, closed at 24,485.95 from the previous day's close at 24,435.66 points.
"Firm closing from last week and positive Asian markets today supported the Indian market gains. Even the positive sentiments eminating out of last week's Chinese macro-data and ECB's announcements restored the risk taking appetite of investors," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS.
"Rupee and oil, both being on a firm note have boosted sentiments," James said.
Vaibhav Agarwal, vice president and research head at Angel Broking, elaborated that profit booking at higher levels and weak opening in Europe has resulted in markets giving up early gains.
"The broader markets however continue to remain positive with the small cap index up significantly higher than the benchmarks," Agarwal explained.
"In the absence of any major trigger, we expect markets to continue to react to global cues with some selling pressure ahead of the F&O expiry," Agarwal said.
Nitasha Shankar, vice president for research with YES Securities, cited healthy buying activity in high beta stocks.
"Banking stocks continue to see short covering rally. Barring the FMCG (fast moving consumer goods) index, all major indices are trading higher with decent gains. Metal, pharma and reality stocks are outperforming," Shankar noted.
RCom raises annual investment to Rs 4,000 crore, turns focus on 3G services
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Telecom operator Reliance Communications has raised its annual investment to Rs 4,000 crore with focus on 3G services while it ended 2G service in five circles including Bihar, West Bengal and Assam.
"I am happy to share we are increasing financial guidance for capex this year from Rs 3,000 crore to Rs 4,000 crore. Much part of this capex will be invested in financing our 3G footprint and strengthening our footprint in MP-CG (Madhya Pradesh, Chhattisgarh) where we acquired 900 Mhz spectrum,"Reliance Communications chief executive for Consumer Business Gurdeep Singh said.
He said part of the investment will go in upgrading core network for 4G service, which the company may launch in couple of months from now.
Similar level of investment is expected to be made in coming years as the company will continue to focus on 3G and 4G services.
He said the company is seeing uptake of 3G service and device penetration in its market has reached to level where the company needs to invest for profitable growth.
RCom has also closed servicing 2G customers in five circles-West Bengal, Bihar, Assam, Odisha and Northeast areas as it failed to win back 900 Mhz. RCom lost 8.5 million 2G customers as result of ending the service in these areas.
The impact was visible on company's result in third quarter ended December 31. RCom had reported a 15 per cent decline in consolidated net profit to Rs 171 crore for the period compared with net profit of Rs 201 crore a year ago.
Total income also declined by 2.9 per cent to Rs 5,277 crore compared with Rs 5,435 crore last fiscal.
Singh said the roaming agreement with Vodafone is for 3G services and it provides network back to customer where they find 3G coverage gap.
"This (pact with Vodafone) is not a 2G ICR. It is 2G ICR for fall back to our 3G customers should they hit a black patch in the coverage within a circle much like anybody else. This is not a ICR that lets us acquire 2G subscribers from the network. We are a pure play 3G operator in these five circles," Singh said.
He said the company has added 386 sites for 3G across 186 towns in the circles where it closed 2G service.
Singh said Rs 5,383.84 crore paid by the company for spectrum liberalisation to government in 16 telecom circles was funded by proceed it received from Reliance Jio as well as from internal accruals.
Both the companies have signed a pact under which, RCom will trade CDMA grade spectrum in 800 MHz band in nine service areas where Jio doesn't have the radiowaves. In 17 circles, the two companies will share spectrum.
Telecom operator Reliance Communications has raised its annual investment to Rs 4,000 crore with focus on 3G services while it ended 2G service in five circles including Bihar, West Bengal and Assam.
"I am happy to share we are increasing financial guidance for capex this year from Rs 3,000 crore to Rs 4,000 crore. Much part of this capex will be invested in financing our 3G footprint and strengthening our footprint in MP-CG (Madhya Pradesh, Chhattisgarh) where we acquired 900 Mhz spectrum,"Reliance Communications chief executive for Consumer Business Gurdeep Singh said.
He said part of the investment will go in upgrading core network for 4G service, which the company may launch in couple of months from now.
Similar level of investment is expected to be made in coming years as the company will continue to focus on 3G and 4G services.
He said the company is seeing uptake of 3G service and device penetration in its market has reached to level where the company needs to invest for profitable growth.
RCom has also closed servicing 2G customers in five circles-West Bengal, Bihar, Assam, Odisha and Northeast areas as it failed to win back 900 Mhz. RCom lost 8.5 million 2G customers as result of ending the service in these areas.
The impact was visible on company's result in third quarter ended December 31. RCom had reported a 15 per cent decline in consolidated net profit to Rs 171 crore for the period compared with net profit of Rs 201 crore a year ago.
Total income also declined by 2.9 per cent to Rs 5,277 crore compared with Rs 5,435 crore last fiscal.
Singh said the roaming agreement with Vodafone is for 3G services and it provides network back to customer where they find 3G coverage gap.
"This (pact with Vodafone) is not a 2G ICR. It is 2G ICR for fall back to our 3G customers should they hit a black patch in the coverage within a circle much like anybody else. This is not a ICR that lets us acquire 2G subscribers from the network. We are a pure play 3G operator in these five circles," Singh said.
He said the company has added 386 sites for 3G across 186 towns in the circles where it closed 2G service.
Singh said Rs 5,383.84 crore paid by the company for spectrum liberalisation to government in 16 telecom circles was funded by proceed it received from Reliance Jio as well as from internal accruals.
Both the companies have signed a pact under which, RCom will trade CDMA grade spectrum in 800 MHz band in nine service areas where Jio doesn't have the radiowaves. In 17 circles, the two companies will share spectrum.
HDFC Bank Q3 net profit rises 20%, bad loans up
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Continuing on the growth trajectory, domestic passenger traffic rose 20.34 per cent in December last year over the same period in 2014 on account of the on-going tourists season, with Indian carriers flying a total of 7.70 million customers during the period.
The domestic carriers had ferried 6.44 million passengers in December 2014.
As per the Directorate General of Civil Aviation (DGCA) data, released on Monday, low-cost SpiceJet reported the highest seat occupancy in its aircraft at 92.1 per cent followed by rival IndiGo, which logged 88.5 per cent seat factor during December 2014.
However, IndiGo, continued its leadership in terms of number of passengers flown, transporting a total 2.74 million passengers.
Full service carrier Jet Airways and Air India during this period carried 1.40 million and 1.28 million passengers respectively, according to the Directorate General of Civil Aviation data.
The DGCA attributes the high passenger carriage by the domestic airlines due to the ongoing tourist season in December.
"The passenger load factor in the month of December 2015 has increased compared to previous month primarily due to the ongoing tourist season," the DGCA said.HDFC Bank, country's second-biggest private sector lender by assets, said its quarterly net profit rose by a fifth, broadly in line with analysts' estimates.
The bank's bad loans also rose.
Net profit rose to Rs 3,357 crore ($495 million) for its fiscal third quarter to December 31, from Rs 2,795 crore reported a year earlier, HDFC Bank said in a statement on Monday.
Analysts on average had expected a net profit of Rs 3361 crore, according to data compiled by Thomson Reuters.
Gross non-performing loans as a percentage of total loans rose to 0.97 per cent in the December quarter from 0.91 per cent in the previous three months.
Continuing on the growth trajectory, domestic passenger traffic rose 20.34 per cent in December last year over the same period in 2014 on account of the on-going tourists season, with Indian carriers flying a total of 7.70 million customers during the period.
The domestic carriers had ferried 6.44 million passengers in December 2014.
As per the Directorate General of Civil Aviation (DGCA) data, released on Monday, low-cost SpiceJet reported the highest seat occupancy in its aircraft at 92.1 per cent followed by rival IndiGo, which logged 88.5 per cent seat factor during December 2014.
However, IndiGo, continued its leadership in terms of number of passengers flown, transporting a total 2.74 million passengers.
Full service carrier Jet Airways and Air India during this period carried 1.40 million and 1.28 million passengers respectively, according to the Directorate General of Civil Aviation data.
The DGCA attributes the high passenger carriage by the domestic airlines due to the ongoing tourist season in December.
"The passenger load factor in the month of December 2015 has increased compared to previous month primarily due to the ongoing tourist season," the DGCA said.HDFC Bank, country's second-biggest private sector lender by assets, said its quarterly net profit rose by a fifth, broadly in line with analysts' estimates.
The bank's bad loans also rose.
Net profit rose to Rs 3,357 crore ($495 million) for its fiscal third quarter to December 31, from Rs 2,795 crore reported a year earlier, HDFC Bank said in a statement on Monday.
Analysts on average had expected a net profit of Rs 3361 crore, according to data compiled by Thomson Reuters.
Gross non-performing loans as a percentage of total loans rose to 0.97 per cent in the December quarter from 0.91 per cent in the previous three months.
French firms to invest $10 billion in India
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French companies will invest $10 billion in India over the next five years, chiefly in the industrial sector, Finance Minister Michel Sapin said on Monday during a visit by President Francois Hollande to India.
"Over the last five years, French companies have invested more than $1 billion per year in India," Sapin said in a speech to the Federation of Indian Chambers of Commerce and Industry in New Delhi.
"We estimate that they will continue to invest at least $10 billion over the next five years."
Hollande, invited as guest of honour for Republic Day celebrations, hopes to seal an intergovernmental deal that would pave the way for the sale of 36 Rafale combat jets made by Dassault Aviation.
As part of that deal, there would be significant "offsets", or related French investments that Prime Minister Narendra Modi hopes will support his "Make in India" initiative to develop the manufacturing sector.
"The majority of these investments are meant for the industrial sector, which makes France the major player in Prime Minister Modi's 'Make in India' programme," Sapin said.
French companies will invest $10 billion in India over the next five years, chiefly in the industrial sector, Finance Minister Michel Sapin said on Monday during a visit by President Francois Hollande to India.
"Over the last five years, French companies have invested more than $1 billion per year in India," Sapin said in a speech to the Federation of Indian Chambers of Commerce and Industry in New Delhi.
"We estimate that they will continue to invest at least $10 billion over the next five years."
Hollande, invited as guest of honour for Republic Day celebrations, hopes to seal an intergovernmental deal that would pave the way for the sale of 36 Rafale combat jets made by Dassault Aviation.
As part of that deal, there would be significant "offsets", or related French investments that Prime Minister Narendra Modi hopes will support his "Make in India" initiative to develop the manufacturing sector.
"The majority of these investments are meant for the industrial sector, which makes France the major player in Prime Minister Modi's 'Make in India' programme," Sapin said.
Tech Trends 2016
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Over the past decade, the technology world has grown at an exponential rate. From HD to full HD to 4k resolution in televisions and smartphones, to wearable gadgets and the advent of hybrids, a lot has happened in the personal technology space. The future, on the other hand, holds great promise for technologies such as artificial intelligence and machine learning. A lot has already been achieved in the technology space, such as Internet of Things, artificial intelligence, machine learning and robotics, but 2016 promises to showcase what these innovations are capable of - it would be a year of evolution and may not be about revolution.
Internet of Things (IoT): It has almost become a household name following all the talk around connecting electronics, software and sensors through a network during 2015. But have we achieved anything substantial yet? Not really. While things have gradually started moving towards IoT, 2016 will witness some real work. Says Narendra Nayak, Managing Director, BlackBerry India: "In this increasingly connected world, technologies that connect to machines and devices for seamless interaction will gain greater prominence than those that connect people to people. Mobility, IoT, cloud and analytics are changing the way we interact. In 2016, we expect a wider adoption of IoT technologies and smarter devices in industry scenarios. In the connected IoT ecosystem, data will become the most critical aspect and we will see businesses adopting unified communication approach where text, chat, video, file sharing and screen sharing across devices will become more cohesive. Given the huge opportunity, IoT may begin to shape many more ways we conduct business and live our lives."
Artificial Intelligence: Thanks to artificial intelligence, machines today have become smarter and can react like humans. They have come a long way from just analysing and reading from a database to learning in real time. While it is being actively used in many industries, such as automated processes in manufacturing units and robotics, to health care and finance, and self-driving cars, it's still to realise its full potential. "Over the last few years, digitisation disrupted IT innovation, redefined business models, empowered consumers and redrew the lines of competition across multiple industries. Whether in an education setting that helps students learn in a style that's best suited for them, or in the form of early childhood toys, such as Cogni Toys, thinking systems will permeate businesses and the products and services they produce," says Amit Verma, Vice President and General Manager, Operations, IBM, adding: "We will see more such implementations around education, health care, retail and banking, among others. And all of this will completely redefine how they build strategies to stay ahead in their game, engage and interact with their customers and employees." It's not just the big names, such as IBM, Wipro and Infosys, who are saying this. A recent report by Microsoft Research quotes its Managing Director, Chris Bishop: "The emergence of new silicon architectures are tuned to the intensive workloads of machine learning."
Machine learning: Although a sub-category of artificial intelligence, there will be significant advancements in machine learning as well. It has already made steady progress in the personal technology space with Apple's Siri, Google's Google Now and Microsoft's Cortana, making them part of our daily lives. While it continues to grow, a significant amount of work will be done in the enterprise space, too. Says Akhilesh Tuteja, Partner and Head, IT Advisory Services, KPMG India: "In my view, it will be a defining year where people will move from experimental technology to proof-of-concept. It will happen first in personal technology and then in enterprise, because in enterprise technology you cannot be 90 per cent right." The key drivers for machine learning are computers that have the ability to process a lot of information and data on the cloud in real time. "The reason why machine learning wasn't a big thing in 2014/2015 when developments were happening, was because artificial intelligence requires huge amount of processing capability that cannot be bundled on the phone. What you need is processing on the cloud in real time. So, if you asked a question and the reply came after a few minutes, it wouldn't be of any worth. The gap shrunk in 2015 and, this year, we will have smarter devices to shrink it further," adds Tuteja. Natural language processing or understanding natural language will also become big in the coming year.
Virtual Reality: There has been a lot of buzz around virtual reality since the time Oculus Rift made its debut, followed by Google's Cardboard. Though the biggest names in the technology space - Google, Facebook, Sony, Samsung, HTC, etc. - are focusing on making it big, VR has only been linked with gaming and entertainment. But this technology can be put to some practical use, including education, health care, sports, retail and tourism. This is what 2016 promises to deliver. VR headsets, such as Oculus Rift, HTC Vive, Sony Morpheus, Samsung Gear VR and Microsoft Hololens, along with the host of other brands, are also expected to dominate the floor at the world's biggest technology show - the Consumer Electronics Show at Las Vegas.
Smart Homes: Various technologies put together are pushing this world towards smart homes. The IoT, evolution of high-speed networks and machine learning are contributing towards development of smart homes, which include smart products, smart systems and apps. While Huawei has announced its HiLink open source platform for smart homes, Bosch has created a subsidiary that will offer products and services for connected homes covering security and heating. Google's acquired Nest, too, is working actively in this space. The Rasberry Pi model B+, for instance, runs seven embedded LEDs, a couple of sensors to measure humidity, barometric pressure and temperature, and a stepper motor that remotely opens and closes doors. With connectivity going mainstream and compact chipsets getting affordable, there will be plenty of smart home solutions coming up in 2016.
Bots: After revolutionising the manufacturing sector, robots are actively becoming a part of the services industry, too. Last year we saw Toshiba's Aiko Chichira venturing into departmental stores to interact with customers, Japan's Hen-na Hotel completely operated by robots, and the Pepper humanoid interacting with customers in stores. This New Year will see far-advanced bots, which will have machine learning capabilities that allow smart learning over the codified jobs they do currently. Recently, Australia got its first fire-fighting robot. There are talks about robots patrolling the streets.
Driverless cars: During the past couple of years, we have witnessed frantic activity in the fully autonomous car space. This year will be no different as this segment will continue to witness more innovations. But will it turn into a reality and hit the Ind- ian roads? No. At least, not in 2016.
While most of these technologies will witness development and growth in 2016, they are still futuristic and are likely to settle down in another four to five years. Says Michael Björn, Head of Research, Ericsson Consumer Lab: "Some of these trends may seem futuristic. But consumer interest in new interaction paradigms, such as AI and VR, as well as in embedding the Internet in the walls of homes or even in our bodies, is quite strong. This means we could soon see new consumer product categories appearing - and whole industries transforming - to accommodate this development."
Over the past decade, the technology world has grown at an exponential rate. From HD to full HD to 4k resolution in televisions and smartphones, to wearable gadgets and the advent of hybrids, a lot has happened in the personal technology space. The future, on the other hand, holds great promise for technologies such as artificial intelligence and machine learning. A lot has already been achieved in the technology space, such as Internet of Things, artificial intelligence, machine learning and robotics, but 2016 promises to showcase what these innovations are capable of - it would be a year of evolution and may not be about revolution.
Internet of Things (IoT): It has almost become a household name following all the talk around connecting electronics, software and sensors through a network during 2015. But have we achieved anything substantial yet? Not really. While things have gradually started moving towards IoT, 2016 will witness some real work. Says Narendra Nayak, Managing Director, BlackBerry India: "In this increasingly connected world, technologies that connect to machines and devices for seamless interaction will gain greater prominence than those that connect people to people. Mobility, IoT, cloud and analytics are changing the way we interact. In 2016, we expect a wider adoption of IoT technologies and smarter devices in industry scenarios. In the connected IoT ecosystem, data will become the most critical aspect and we will see businesses adopting unified communication approach where text, chat, video, file sharing and screen sharing across devices will become more cohesive. Given the huge opportunity, IoT may begin to shape many more ways we conduct business and live our lives."
Artificial Intelligence: Thanks to artificial intelligence, machines today have become smarter and can react like humans. They have come a long way from just analysing and reading from a database to learning in real time. While it is being actively used in many industries, such as automated processes in manufacturing units and robotics, to health care and finance, and self-driving cars, it's still to realise its full potential. "Over the last few years, digitisation disrupted IT innovation, redefined business models, empowered consumers and redrew the lines of competition across multiple industries. Whether in an education setting that helps students learn in a style that's best suited for them, or in the form of early childhood toys, such as Cogni Toys, thinking systems will permeate businesses and the products and services they produce," says Amit Verma, Vice President and General Manager, Operations, IBM, adding: "We will see more such implementations around education, health care, retail and banking, among others. And all of this will completely redefine how they build strategies to stay ahead in their game, engage and interact with their customers and employees." It's not just the big names, such as IBM, Wipro and Infosys, who are saying this. A recent report by Microsoft Research quotes its Managing Director, Chris Bishop: "The emergence of new silicon architectures are tuned to the intensive workloads of machine learning."
Machine learning: Although a sub-category of artificial intelligence, there will be significant advancements in machine learning as well. It has already made steady progress in the personal technology space with Apple's Siri, Google's Google Now and Microsoft's Cortana, making them part of our daily lives. While it continues to grow, a significant amount of work will be done in the enterprise space, too. Says Akhilesh Tuteja, Partner and Head, IT Advisory Services, KPMG India: "In my view, it will be a defining year where people will move from experimental technology to proof-of-concept. It will happen first in personal technology and then in enterprise, because in enterprise technology you cannot be 90 per cent right." The key drivers for machine learning are computers that have the ability to process a lot of information and data on the cloud in real time. "The reason why machine learning wasn't a big thing in 2014/2015 when developments were happening, was because artificial intelligence requires huge amount of processing capability that cannot be bundled on the phone. What you need is processing on the cloud in real time. So, if you asked a question and the reply came after a few minutes, it wouldn't be of any worth. The gap shrunk in 2015 and, this year, we will have smarter devices to shrink it further," adds Tuteja. Natural language processing or understanding natural language will also become big in the coming year.
Virtual Reality: There has been a lot of buzz around virtual reality since the time Oculus Rift made its debut, followed by Google's Cardboard. Though the biggest names in the technology space - Google, Facebook, Sony, Samsung, HTC, etc. - are focusing on making it big, VR has only been linked with gaming and entertainment. But this technology can be put to some practical use, including education, health care, sports, retail and tourism. This is what 2016 promises to deliver. VR headsets, such as Oculus Rift, HTC Vive, Sony Morpheus, Samsung Gear VR and Microsoft Hololens, along with the host of other brands, are also expected to dominate the floor at the world's biggest technology show - the Consumer Electronics Show at Las Vegas.
Smart Homes: Various technologies put together are pushing this world towards smart homes. The IoT, evolution of high-speed networks and machine learning are contributing towards development of smart homes, which include smart products, smart systems and apps. While Huawei has announced its HiLink open source platform for smart homes, Bosch has created a subsidiary that will offer products and services for connected homes covering security and heating. Google's acquired Nest, too, is working actively in this space. The Rasberry Pi model B+, for instance, runs seven embedded LEDs, a couple of sensors to measure humidity, barometric pressure and temperature, and a stepper motor that remotely opens and closes doors. With connectivity going mainstream and compact chipsets getting affordable, there will be plenty of smart home solutions coming up in 2016.
Bots: After revolutionising the manufacturing sector, robots are actively becoming a part of the services industry, too. Last year we saw Toshiba's Aiko Chichira venturing into departmental stores to interact with customers, Japan's Hen-na Hotel completely operated by robots, and the Pepper humanoid interacting with customers in stores. This New Year will see far-advanced bots, which will have machine learning capabilities that allow smart learning over the codified jobs they do currently. Recently, Australia got its first fire-fighting robot. There are talks about robots patrolling the streets.
Driverless cars: During the past couple of years, we have witnessed frantic activity in the fully autonomous car space. This year will be no different as this segment will continue to witness more innovations. But will it turn into a reality and hit the Ind- ian roads? No. At least, not in 2016.
While most of these technologies will witness development and growth in 2016, they are still futuristic and are likely to settle down in another four to five years. Says Michael Björn, Head of Research, Ericsson Consumer Lab: "Some of these trends may seem futuristic. But consumer interest in new interaction paradigms, such as AI and VR, as well as in embedding the Internet in the walls of homes or even in our bodies, is quite strong. This means we could soon see new consumer product categories appearing - and whole industries transforming - to accommodate this development."
General Awareness
4th India Africa Hydrocarbons Conference begins in New Delhi
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The fourth edition of India Africa Hydrocarbons Conference (IAHC) has begun on January 21, 2016 in New Delhi. The two day conference aims at enhancing greater cooperation between India and African continent in the field of Hydrocarbons. It also seeks to explore opportunities, bridge boundaries and boost bilateral trade between India and Africa.
4th India Africa Hydrocarbons Conference (IAHC):
- 22 African nations have participated of which 9 are represented by their Ministers.
- These 9 countries are Morocco, Algeria, Liberia, Mauritius, South Sudan, Sudan, Tunisia, Equatorial Guinea and Senegal.
- Provide a global forum and common platform to African Countries to share their vision and chart out the road map for extended energy cooperation.
- Bring together African leaders in and also CEOs from India and abroad to exchange expert insights and develop strategies for enhancing energy cooperation.
India-Africa Relations for Energy Security:
- India and African nations have common colonial past and enjoyed political and cultural ties. However, energy security stands as one of the major focus area of the bilateral ties.
- Presently, India is importing close to 75 per cent of its crude oil and is seeking to diversifying import basket to meet its energy requirements.
- Oil imports from Africa play a significant role in meeting the demands of India. In June 2015, Nigeria had stood as the second largest supplier of oil to India.
- Though Africa has huge hydrocarbon resources, it lacks capital, technology and ability, experience and manpower to exploit these resources for future growth.
- This can serve as the catalyst to encourage proper cooperation in the hydrocarbon energy sector as India can provide investment capital for development needs of African countries.
- The fourth edition of India Africa Hydrocarbons Conference (IAHC) has begun on January 21, 2016 in New Delhi. The two day conference aims at enhancing greater cooperation between India and African continent in the field of Hydrocarbons. It also seeks to explore opportunities, bridge boundaries and boost bilateral trade between India and Africa.
4th India Africa Hydrocarbons Conference (IAHC):
- 22 African nations have participated of which 9 are represented by their Ministers.
- These 9 countries are Morocco, Algeria, Liberia, Mauritius, South Sudan, Sudan, Tunisia, Equatorial Guinea and Senegal.
- Provide a global forum and common platform to African Countries to share their vision and chart out the road map for extended energy cooperation.
- Bring together African leaders in and also CEOs from India and abroad to exchange expert insights and develop strategies for enhancing energy cooperation.
India-Africa Relations for Energy Security:
- India and African nations have common colonial past and enjoyed political and cultural ties. However, energy security stands as one of the major focus area of the bilateral ties.
- Presently, India is importing close to 75 per cent of its crude oil and is seeking to diversifying import basket to meet its energy requirements.
- Oil imports from Africa play a significant role in meeting the demands of India. In June 2015, Nigeria had stood as the second largest supplier of oil to India.
- Though Africa has huge hydrocarbon resources, it lacks capital, technology and ability, experience and manpower to exploit these resources for future growth.
- This can serve as the catalyst to encourage proper cooperation in the hydrocarbon energy sector as India can provide investment capital for development needs of African countries.
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