General Affairs
Rs. 1 Lakh Crore Disbursed In Loans For Small Businesses: Amit Shah
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NEW DELHI: Narendra Modi government has ensured that more than Rs. one lakh crore in loans is disbursed to micro units and enterprises in just one financial year, BJP president Amit Shah today said as he termed it as a big "success" in providing self employment to people.
Addressing a gathering after distributing small loans to poor and landless people at an event in New Delhi, Mr Shah rued that around 60 crore people did not have bank accounts even six decades after independence.
"60 crore people were without bank accounts. They had no connect with the economy. BJP government under Narendra Modi came out with Jan Dhan scheme and made a successful attempt of opening 20 crore accounts and helped them connect with the economy.
"The government did not stop there. Those families who got connected through this, their security was also taken care of and a Rs. two-lakh accident insurance was given to them withRs. 12 per annum.
"After that, the Modi government brought Mudra Bank. To encourage self employment, there cannot be anything better that this....
"In just one financial year, the Narendra Modi government has disbursed around Rs. one lakh crore loan to small scale enterprises and units. And the number of people who have taken loan has gone up to 45 lakh. This is a major success for self employment and making a new beginning. This is a big achievement," he said.
He said that if every poor person has to be connected with the development of the country, then he has to be helped in becoming self employed so as to contribute in the development of the country.
Mr Shah said that the concept of micro finance is being taken forward through 'Chaupal', or gathering of stakeholders organised by Swadeshi Jagran Manch.
He said that by making it compulsory for every nationalised bank branch to give loan to at least one dalit, the government has also given opportunity to Dalit entrepreneurs and this has generated a positive impact in the community.
Mr Shah also talked about Skill India and Start Up India. He said that after so many years, a government has come out with thoughts and policies to help the people standing at the end of the line.
NEW DELHI: Narendra Modi government has ensured that more than Rs. one lakh crore in loans is disbursed to micro units and enterprises in just one financial year, BJP president Amit Shah today said as he termed it as a big "success" in providing self employment to people.Addressing a gathering after distributing small loans to poor and landless people at an event in New Delhi, Mr Shah rued that around 60 crore people did not have bank accounts even six decades after independence.
"60 crore people were without bank accounts. They had no connect with the economy. BJP government under Narendra Modi came out with Jan Dhan scheme and made a successful attempt of opening 20 crore accounts and helped them connect with the economy.
"After that, the Modi government brought Mudra Bank. To encourage self employment, there cannot be anything better that this....
"In just one financial year, the Narendra Modi government has disbursed around Rs. one lakh crore loan to small scale enterprises and units. And the number of people who have taken loan has gone up to 45 lakh. This is a major success for self employment and making a new beginning. This is a big achievement," he said.
He said that if every poor person has to be connected with the development of the country, then he has to be helped in becoming self employed so as to contribute in the development of the country.
Mr Shah said that the concept of micro finance is being taken forward through 'Chaupal', or gathering of stakeholders organised by Swadeshi Jagran Manch.
He said that by making it compulsory for every nationalised bank branch to give loan to at least one dalit, the government has also given opportunity to Dalit entrepreneurs and this has generated a positive impact in the community.
Mr Shah also talked about Skill India and Start Up India. He said that after so many years, a government has come out with thoughts and policies to help the people standing at the end of the line.
Rahul Gandhi Attacks Government Over Net Neutrality Issue
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NEW DELHI: Rahul Gandhi today accused the government of delaying a decision on the issue of net neutrality on the "pretext" of repeated discussions and took a dig at Prime Minister Narendra Modi, saying his 'Digital India' scheme cannot become a "euphemism" for an Internet controlled by large remote corporations.
Insisting that the Congress has always stood for 'Freedom of the Internet' and 'Net Neutrality', he said the party wanted that Internet Service Providers (ISPs)/Telecom Service Providers (TSPs) and government should treat all data on Internet equally.
"With Digital India, people would get more access to the Internet - the whole Internet - and not primarily a filter on the web. This is imperative for India to grow in 21st Century.
I sincerely hope that TRAI report and Modi government will adhere to this bounden need espoused by millions of Indians", the Congress Vice President said in a statement.
He told the Prime Minister that 'Digital India' "cannot become a euphemism for an Internet controlled by large remote corporations. Digital India should mean Internet connectivity as a public utility, open ended and generative."
"Congress Party's and my belief is shaped by our faith that Internet users should be free to connect to any website or service that they want, enabling a level playing field on the 'world wide web'. We recognize the danger of privileging a private platform over a public Internet introducing a new digital divide," he said.
He wanted the government to realise that Internet is a powerful poverty alleviation tool, offering unbounded opportunities limited only by imagination, whether it is a farmer looking for information on monsoon preparedness, artisans connecting with buyers in a market place or a college student from rural India enrolling for an online course.
"NASSCOM has asked for Net Neutrality, over 500 start-up entrepreneurs are pleading for it, young in India have been demanding it, yet we have a government, which under the pretext of repeated discussions, has been delaying framing a clear-cut policy on this", Mr Gandhi said attacking the government.
He charged that the BJP government "quietly looked the other way" when Telecom companies introduced price differential through zero rating plans and attempts to charge for OTT (Over The Top) services.
Telecom Regulatory Authority of India (TRAI) has issued consultation papers on the issue twice over, covering similar questions for consumers to answer on Net Neutrality, free basics and data price differentiation.
"Like millions of Indians out there, I am earnestly hoping to see a TRAI report (scheduled for 31st January) and Modi government's commitment in favor of an open Internet in its entirety where there is no ambiguity in regard to difference in pricing or VOIP", Rahul Gandhi said.
The Congress Vice President said he was aware that past few months haven't been easy for Free Internet and Net Neutrality activists, civil society and researchers, who are engaged in the movement to disseminate useful and relevant information to the public despite "misleading marketing gimmicks."
NEW DELHI: Rahul Gandhi today accused the government of delaying a decision on the issue of net neutrality on the "pretext" of repeated discussions and took a dig at Prime Minister Narendra Modi, saying his 'Digital India' scheme cannot become a "euphemism" for an Internet controlled by large remote corporations.Insisting that the Congress has always stood for 'Freedom of the Internet' and 'Net Neutrality', he said the party wanted that Internet Service Providers (ISPs)/Telecom Service Providers (TSPs) and government should treat all data on Internet equally.
I sincerely hope that TRAI report and Modi government will adhere to this bounden need espoused by millions of Indians", the Congress Vice President said in a statement.
He told the Prime Minister that 'Digital India' "cannot become a euphemism for an Internet controlled by large remote corporations. Digital India should mean Internet connectivity as a public utility, open ended and generative."
"Congress Party's and my belief is shaped by our faith that Internet users should be free to connect to any website or service that they want, enabling a level playing field on the 'world wide web'. We recognize the danger of privileging a private platform over a public Internet introducing a new digital divide," he said.
He wanted the government to realise that Internet is a powerful poverty alleviation tool, offering unbounded opportunities limited only by imagination, whether it is a farmer looking for information on monsoon preparedness, artisans connecting with buyers in a market place or a college student from rural India enrolling for an online course.
"NASSCOM has asked for Net Neutrality, over 500 start-up entrepreneurs are pleading for it, young in India have been demanding it, yet we have a government, which under the pretext of repeated discussions, has been delaying framing a clear-cut policy on this", Mr Gandhi said attacking the government.
He charged that the BJP government "quietly looked the other way" when Telecom companies introduced price differential through zero rating plans and attempts to charge for OTT (Over The Top) services.
Telecom Regulatory Authority of India (TRAI) has issued consultation papers on the issue twice over, covering similar questions for consumers to answer on Net Neutrality, free basics and data price differentiation.
"Like millions of Indians out there, I am earnestly hoping to see a TRAI report (scheduled for 31st January) and Modi government's commitment in favor of an open Internet in its entirety where there is no ambiguity in regard to difference in pricing or VOIP", Rahul Gandhi said.
The Congress Vice President said he was aware that past few months haven't been easy for Free Internet and Net Neutrality activists, civil society and researchers, who are engaged in the movement to disseminate useful and relevant information to the public despite "misleading marketing gimmicks."
International Fleet Review Big Opportunity For India, Says PM Modi
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NEW DELHI: India is proud to be hosting the International Fleet Review, which is a "big opportunity" for the country, Prime Minister Narendra Modi said today.
"It is a matter of pride that India is hosting a big event in the first week of February. The whole world is coming as a guest, and our navy is preparing for it," PM Modi said in his radio address 'Mann Ki Baat'.
He noted that warships and naval ships of several countries were assembling off Visakhapatnam for the review.
"This is an attempt to establish a consonance between our military power and the military powers of the world. This is a joint exercise... a big opportunity," he said.
PM Modi called upon the people to support the programme, observing that India has a rich maritime history.
"Land boundaries divide us, but the water, the ocean, unites us," he said.
At least 50 navies are participating in the International Fleet Review, one of the biggest events of its kind ever held in India.
There will be 24 foreign navy ships and 25 chiefs of navies attending the event.
NEW DELHI: India is proud to be hosting the International Fleet Review, which is a "big opportunity" for the country, Prime Minister Narendra Modi said today."It is a matter of pride that India is hosting a big event in the first week of February. The whole world is coming as a guest, and our navy is preparing for it," PM Modi said in his radio address 'Mann Ki Baat'.
He noted that warships and naval ships of several countries were assembling off Visakhapatnam for the review.
"This is an attempt to establish a consonance between our military power and the military powers of the world. This is a joint exercise... a big opportunity," he said.
PM Modi called upon the people to support the programme, observing that India has a rich maritime history.
"Land boundaries divide us, but the water, the ocean, unites us," he said.
At least 50 navies are participating in the International Fleet Review, one of the biggest events of its kind ever held in India.
There will be 24 foreign navy ships and 25 chiefs of navies attending the event.
Day After Mystery Death, Manish Sisodia Says Will Inspect School Safety
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NEW DELHI: A day after a child drowned in a Delhi school, Deputy Chief Minister Manish Sisodia said he would personally visit the city's schools to review safety aspects.
This afternoon, following a meeting with senior government officials to review security preparations, Mr Sisodia said, "In the coming month, all schools will prepare a safety report and provide a declaration... based on these reports i will personally go and inspect schools."
All corners of the schools will be thoroughly inspected, the minister said, adding, "Schools have to be safe for kids... yesterday's incident has shocked me, how could an innocent child die while roaming around in a school campus?"
On Saturday, a six-year-old student of a private school in south Delhi, Ryan International School, was found dead on the campus. Devansh Meena's body was found dead in a pit near the school's amphitheatre.
The police are recording the statement of the school staff, including the principal.
School authorities said the boy, who had come to the school for a poetry competition, had gone missing from class. The authorities have claimed that Divyansh had a tendency of running away from class. The claim will be verified by a doctor, who has been summoned.
The family has alleged that the principal had tried to keep the matter quiet.
This was the second death in a Delhi school within a week. On January 27, a five-year-old boy had drowned in a septic tank in a corporation-run school when he went to the toilet.
This afternoon, following a meeting with senior government officials to review security preparations, Mr Sisodia said, "In the coming month, all schools will prepare a safety report and provide a declaration... based on these reports i will personally go and inspect schools."
All corners of the schools will be thoroughly inspected, the minister said, adding, "Schools have to be safe for kids... yesterday's incident has shocked me, how could an innocent child die while roaming around in a school campus?"
The police are recording the statement of the school staff, including the principal.
School authorities said the boy, who had come to the school for a poetry competition, had gone missing from class. The authorities have claimed that Divyansh had a tendency of running away from class. The claim will be verified by a doctor, who has been summoned.
The family has alleged that the principal had tried to keep the matter quiet.
This was the second death in a Delhi school within a week. On January 27, a five-year-old boy had drowned in a septic tank in a corporation-run school when he went to the toilet.
Ammunition Cache Including Live Cartridges Recovered From Canal In Pathankot
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PATHANKOT: A cache of ammunition was today found dumped in Upper Bari Doab canal at Malikpur in the district which is on high alert since the attack on the airbase earlier this month.
Some boys, who were taking bath in the Upper Bari Doab canal in Pathankot, accidentally found the ammunition, police said.
"As the water level was low, the boys discovered the ammunition lying at the bottom of the canal and then they raised an alarm," Pathankot DSP (Rural) Kuldeep Singh said.
Two magazines along with 59 live cartridges of AK-47 rifle, two magazines and 29 live cartridges of INSAS rifle and 16 rounds and two shells of .315 rifle were recovered, he said.
The investigations are underway, the DSP said.
Security had already been stepped up in Pathankot and surrounding areas following a terror attack at Pathankot Airforce station on January 2 in which seven security personnel were killed.
Few days back, Punjab police had arrested a resident of Madhya Pradesh from a railway station in Pathankot and recovered a country-made pistol along with two live cartridges.
On January 28, a 25-year-old Afghan national was caught by railway police for travelling without ticket at Pathankot Cantt railway station.
PATHANKOT: A cache of ammunition was today found dumped in Upper Bari Doab canal at Malikpur in the district which is on high alert since the attack on the airbase earlier this month.Some boys, who were taking bath in the Upper Bari Doab canal in Pathankot, accidentally found the ammunition, police said.
"As the water level was low, the boys discovered the ammunition lying at the bottom of the canal and then they raised an alarm," Pathankot DSP (Rural) Kuldeep Singh said.
Two magazines along with 59 live cartridges of AK-47 rifle, two magazines and 29 live cartridges of INSAS rifle and 16 rounds and two shells of .315 rifle were recovered, he said.
The investigations are underway, the DSP said.
Security had already been stepped up in Pathankot and surrounding areas following a terror attack at Pathankot Airforce station on January 2 in which seven security personnel were killed.
Few days back, Punjab police had arrested a resident of Madhya Pradesh from a railway station in Pathankot and recovered a country-made pistol along with two live cartridges.
On January 28, a 25-year-old Afghan national was caught by railway police for travelling without ticket at Pathankot Cantt railway station.
Business Affairs
Economy can grow 8% in coming fiscal year: Jayant Sinha
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The Indian economy can grow by 8 per cent in the coming fiscal year as long as there is a favourable monsoon after two years of drought, deputy finance minister Jayant Sinha said on Saturday.
Speaking on the sidelines of the Economic Times Global Business Summit, Sinha said that a favourable rainy season could add between 0.5 and 1 percentage point to growth in Asia's third-largest economy.
Speaking about capital requirements of public sector banks so that they meet Basel III global risk norms, which kick in from March 2019, Minister of State for Finance Jayant Sinha said that the government will fully support it.
"We are working very closely with RBI and banks to ensure all of our PSU banks meet their capital adequacy fully compliant with RBI and Basel III requirements. We are fully there to support our banks," he said.
Public sector banks need Rs 1.80 lakh crore to meet Basel III norms. While the government will provide Rs 70,000 crore, the remaining Rs 1.1 lakh crore will have to be raised by banks.
As per the capital infusion road map, PSU banks will get Rs 25,000 crore this fiscal and as well as the next fiscal and Rs 10,000 crore each in 2017-18 and 2018-19.
Out of Rs 25,000 crore set for the current fiscal, the government has infused about Rs 20,088 crore in 13 public sector banks.
On the revision of GDP numbers, Sinha said it is a fairly routine process and reset as better estimates come in.
"As previous years' GDP numbers have also been revised and brought down... it is going to make a difference to current year's numbers as well," he said.
Earlier this week, the government has marginally revised downward the economic growth for 2014-15 to 7.2 per cent, from the earlier estimate of 7.3 per cent, after factoring in the latest data on agriculture and industrial production.
"We should be able to achieve the 8 per cent mark next year if we have a normal monsoon. We should see it adding 0.5-1 per cent to GDP growth... when you have a deficient rainfall for two years, obviously that is going to be a drag on the economy and that's why we couldn't achieve the 8 per cent growth target," he explained.
As the legacy problems diminish, the economy will gather momentum, he hoped.
The Indian economy can grow by 8 per cent in the coming fiscal year as long as there is a favourable monsoon after two years of drought, deputy finance minister Jayant Sinha said on Saturday.
Speaking on the sidelines of the Economic Times Global Business Summit, Sinha said that a favourable rainy season could add between 0.5 and 1 percentage point to growth in Asia's third-largest economy.
Speaking about capital requirements of public sector banks so that they meet Basel III global risk norms, which kick in from March 2019, Minister of State for Finance Jayant Sinha said that the government will fully support it.
"We are working very closely with RBI and banks to ensure all of our PSU banks meet their capital adequacy fully compliant with RBI and Basel III requirements. We are fully there to support our banks," he said.
Public sector banks need Rs 1.80 lakh crore to meet Basel III norms. While the government will provide Rs 70,000 crore, the remaining Rs 1.1 lakh crore will have to be raised by banks.
As per the capital infusion road map, PSU banks will get Rs 25,000 crore this fiscal and as well as the next fiscal and Rs 10,000 crore each in 2017-18 and 2018-19.
Out of Rs 25,000 crore set for the current fiscal, the government has infused about Rs 20,088 crore in 13 public sector banks.
On the revision of GDP numbers, Sinha said it is a fairly routine process and reset as better estimates come in.
"As previous years' GDP numbers have also been revised and brought down... it is going to make a difference to current year's numbers as well," he said.
Earlier this week, the government has marginally revised downward the economic growth for 2014-15 to 7.2 per cent, from the earlier estimate of 7.3 per cent, after factoring in the latest data on agriculture and industrial production.
"We should be able to achieve the 8 per cent mark next year if we have a normal monsoon. We should see it adding 0.5-1 per cent to GDP growth... when you have a deficient rainfall for two years, obviously that is going to be a drag on the economy and that's why we couldn't achieve the 8 per cent growth target," he explained.
As the legacy problems diminish, the economy will gather momentum, he hoped.
Alibaba launches Hindi portal to tap small cities, rural areas in India
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Alibaba.com, the wholesale trading platform of China's Alibaba Group, is planning to double its user base in India over the next few years. Making further inroads into the Indian market, the China-based online shopping portal on Friday unveiled its first physical trade facility centre in the country at Jaipur.
Going forward, Alibaba.com plans to open more such centres providing physical and online trade facilitation services in key cities and SME education centers in selected industry hubs in the country.
To tap the smaller cities and rural areas of the country, the company also launched a Hindi portal to connect small and medium businesses with global buyers.
"We are excited about working with our Indian partners to provide comprehensive and dedicated trading solutions for local Indian sellers to explore more cross-border trading opportunities. Our ongoing efforts in India also showcase our long-term commitment to the market," Alibaba.com Head Global Business Development Timothy Leung said in a statement.
By providing information and services in Hindi, the site will enable Indian traders, especially those from small cities and rural areas, to easily connect with merchants worldwide, he added.
He said the company will make Trade Assurance Programme available on the portal, providing a full set of protections for buyers in global trading.
Alibaba.com will refund the Indian merchants for the supplier if the supplier does not meet the shipping time or the quality of products fails to meet contract requirements.
Alibaba group's B2B arm has said it aims to more than double user base in India over the next few years through on-boarding of over five million businesses on its wholesale trading platform.
Alibaba.Com, which connects buyers and wholesale suppliers globally, has 40 million users globally and 4.5 million users in India.
The company will offer a collateral-free SME finance support programme.
The logistics and credit services will be provided by Jeena and Capital Float, respectively, offering financing support to Indian SMEs in cross-border trading based on their historical trade information and credit profile, it said.
"Access to credit has always been a big bottleneck to the global ambitions of small Indian businesses. This new credit scheme can enable SMEs to break limits and set the stage for them to realize their true potential," Capital Float CEO and founder Gaurav Hinduja said.
Alibaba.com, the wholesale trading platform of China's Alibaba Group, is planning to double its user base in India over the next few years. Making further inroads into the Indian market, the China-based online shopping portal on Friday unveiled its first physical trade facility centre in the country at Jaipur.
Going forward, Alibaba.com plans to open more such centres providing physical and online trade facilitation services in key cities and SME education centers in selected industry hubs in the country.
To tap the smaller cities and rural areas of the country, the company also launched a Hindi portal to connect small and medium businesses with global buyers.
"We are excited about working with our Indian partners to provide comprehensive and dedicated trading solutions for local Indian sellers to explore more cross-border trading opportunities. Our ongoing efforts in India also showcase our long-term commitment to the market," Alibaba.com Head Global Business Development Timothy Leung said in a statement.
By providing information and services in Hindi, the site will enable Indian traders, especially those from small cities and rural areas, to easily connect with merchants worldwide, he added.
He said the company will make Trade Assurance Programme available on the portal, providing a full set of protections for buyers in global trading.
Alibaba.com will refund the Indian merchants for the supplier if the supplier does not meet the shipping time or the quality of products fails to meet contract requirements.
Alibaba group's B2B arm has said it aims to more than double user base in India over the next few years through on-boarding of over five million businesses on its wholesale trading platform.
Alibaba.Com, which connects buyers and wholesale suppliers globally, has 40 million users globally and 4.5 million users in India.
The company will offer a collateral-free SME finance support programme.
The logistics and credit services will be provided by Jeena and Capital Float, respectively, offering financing support to Indian SMEs in cross-border trading based on their historical trade information and credit profile, it said.
"Access to credit has always been a big bottleneck to the global ambitions of small Indian businesses. This new credit scheme can enable SMEs to break limits and set the stage for them to realize their true potential," Capital Float CEO and founder Gaurav Hinduja said.
3 Wipro call centre staff arrested over UK telecom fraud
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Three employees of a call centre run by Wipro for UK telecom firm TalkTalk have been arrested over security breach allegations, according to British media.
The Kolkata-based workers were arrested earlier this month following a data security review by the London-based firm, which then alerted Indian police. The arrests came months after TalkTalk was hit by a high-profile hacking in October last year when personal details of its customers were compromised. But the company have indicated that the latest arrests in India are not related to last years data breach.
"Following the October 2015 cyber-attack, we have been conducting a forensic review to ensure that all aspects of our security are as robust as possible including that of our suppliers. Acting on information supplied by TalkTalk, the local police have arrested three individuals who have breached our policies and the terms of our contract with Wipro. We are also reviewing our relationship with Wipro," TalkTalk said in a statement.
"We are determined to identify and deal effectively with these issues and we will continue to devote significant resource to keeping our customers' data safe," the phone and broadband service provider added. News of the arrests was first reported on Britain's 'Channel 4 News' last evening. It reported that Indian police had made the arrests over the last fortnight in relation to allegations of theft of customers data and using it to con them out of thousands of pounds.
"Wipro is committed to maintaining the integrity and confidentiality of all customer data and has a zero tolerance policy on securitybreaches," Wipro said in a statement. Wipro is working closely with the customer in the investigation and will continue to extend its full cooperation to the investigating authorities. "We are unable to comment on the matter that is currently under investigation," it added.
Three employees of a call centre run by Wipro for UK telecom firm TalkTalk have been arrested over security breach allegations, according to British media.
The Kolkata-based workers were arrested earlier this month following a data security review by the London-based firm, which then alerted Indian police. The arrests came months after TalkTalk was hit by a high-profile hacking in October last year when personal details of its customers were compromised. But the company have indicated that the latest arrests in India are not related to last years data breach.
"Following the October 2015 cyber-attack, we have been conducting a forensic review to ensure that all aspects of our security are as robust as possible including that of our suppliers. Acting on information supplied by TalkTalk, the local police have arrested three individuals who have breached our policies and the terms of our contract with Wipro. We are also reviewing our relationship with Wipro," TalkTalk said in a statement.
"We are determined to identify and deal effectively with these issues and we will continue to devote significant resource to keeping our customers' data safe," the phone and broadband service provider added. News of the arrests was first reported on Britain's 'Channel 4 News' last evening. It reported that Indian police had made the arrests over the last fortnight in relation to allegations of theft of customers data and using it to con them out of thousands of pounds.
"Wipro is committed to maintaining the integrity and confidentiality of all customer data and has a zero tolerance policy on securitybreaches," Wipro said in a statement. Wipro is working closely with the customer in the investigation and will continue to extend its full cooperation to the investigating authorities. "We are unable to comment on the matter that is currently under investigation," it added.
Double-digit growth possible if reforms go on: Arvind Panagariya
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India is expected to get on to a double-digit growth in the next 2-3 years if reform process continues, NITI Aayog Vice-Chairman Arvind Panagariya said today.
Besides, he expressed hope that GST will be implemented as both parties concerned broadly agree on the comprehensive indirect tax reforms.
"The scope of India to expand is quite considerable as long as our reform process moves in right direction. We have reason to expect that we will, as I have been arguing, in next 2-3 years begin to touch a double-digit growth. So, I see a very optimistic future," he said at the ET Global Business Summit.
Even today, he said, when the world market is not growing or growing slowly, India is a very large market with merchandise exports alone at about USD 18 trillion and services exports at $5 trillion.
"So, if we stay on the reform path and do the right thing, I think the pie that exists is very large. Our current share is 1.75 per cent of $18 trillion... and about 3 per cent of $5 trillion in services exports," he said.
On reforms, Panagariya is confident that GST will go through.
"This is something which has had support from both sides.
India is expected to get on to a double-digit growth in the next 2-3 years if reform process continues, NITI Aayog Vice-Chairman Arvind Panagariya said today.
Besides, he expressed hope that GST will be implemented as both parties concerned broadly agree on the comprehensive indirect tax reforms.
"The scope of India to expand is quite considerable as long as our reform process moves in right direction. We have reason to expect that we will, as I have been arguing, in next 2-3 years begin to touch a double-digit growth. So, I see a very optimistic future," he said at the ET Global Business Summit.
Even today, he said, when the world market is not growing or growing slowly, India is a very large market with merchandise exports alone at about USD 18 trillion and services exports at $5 trillion.
"So, if we stay on the reform path and do the right thing, I think the pie that exists is very large. Our current share is 1.75 per cent of $18 trillion... and about 3 per cent of $5 trillion in services exports," he said.
On reforms, Panagariya is confident that GST will go through.
"This is something which has had support from both sides.
GM India launches new Chevrolet Cruze, price up to Rs 17.81 lakh
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General Motors India today launched its new Chevrolet Cruze sedan priced between Rs 14.68 lakh and Rs 17.81 lakh (ex-showroom, New Delhi).
The new Chevrolet Cruze is powered by a turbocharged 2.0-litre diesel engine and comes with both a 6-speed manual and 6-speed automatic transmission, the company said in a statement.
GM India President and Managing Director Kaher Kazem said the car has new styling and added features along with the most powerful diesel engine in its segment.
"Since its launch, Cruze continues to be one of the largest-selling Chevrolet nameplates, selling over 3.5 million units globally," he added.
The Cruze is now equipped with features including the 'MyLink' Infotainment System and rear vision camera as well as new LED daytime running lights among others, the company said.
GM India claims that as per ICAT, the automatic transmission version of the new Chevrolet Cruze delivers fuel economy of 14.81 kmpl, while the manual variant returns a fuel efficiency of 17.9 kmpl.
General Motors India today launched its new Chevrolet Cruze sedan priced between Rs 14.68 lakh and Rs 17.81 lakh (ex-showroom, New Delhi).
The new Chevrolet Cruze is powered by a turbocharged 2.0-litre diesel engine and comes with both a 6-speed manual and 6-speed automatic transmission, the company said in a statement.
GM India President and Managing Director Kaher Kazem said the car has new styling and added features along with the most powerful diesel engine in its segment.
"Since its launch, Cruze continues to be one of the largest-selling Chevrolet nameplates, selling over 3.5 million units globally," he added.
The Cruze is now equipped with features including the 'MyLink' Infotainment System and rear vision camera as well as new LED daytime running lights among others, the company said.
GM India claims that as per ICAT, the automatic transmission version of the new Chevrolet Cruze delivers fuel economy of 14.81 kmpl, while the manual variant returns a fuel efficiency of 17.9 kmpl.
General Awareness
USAID extends funding for projects for TB-free India
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US Agency for International Development’s (USAID) has extends the funds for the TB-free India project. India has the highest number of tuberculosis cases in the world. In India nearly2.2 million TB cases are annually reported.
Key Highlights about the Project
Aim: To adopt and implement the best observe and improvement for the prevention, detection, and treatment of TB, by raising awareness and to reduce the social stigma associated with the disease, and empowering communities.
- Under the Tuberculosis Health Action Learning Initiative (THALI) project, the World Health Partners (WHP) are has been awarded USD 7.5 million for implementing activities in Kolkata.
- Similarly Karnataka Health Promotion Trust (KHPT) is also awarded with UDS 7.5 million to for work in Bangalore, Hyderabad, and Pune.
- The projects will help to provide solutions and best practices for the successful diagnosis and treatment of TB in country.
- REACH (Resource Group for Education and Advocacy for Community Health) is awarded by USD 6 million and signed to continue their help, and try to make TB-free India campaign by the governments Call.
- These awards will help the government to provide novel solutions for the prevention and treatment of TB, especially among under-served urban slum residents and other low-income populations.
- USAID has worked with the Indian government to help identify and treat 15 millionpatients for TB in the last 18 years.
Keys
- US Ambassador to India-Richard R Verma
- Union Health Minister JP Nadda
- US Agency for International Development’s (USAID) has extends the funds for the TB-free India project. India has the highest number of tuberculosis cases in the world. In India nearly2.2 million TB cases are annually reported.Key Highlights about the ProjectAim: To adopt and implement the best observe and improvement for the prevention, detection, and treatment of TB, by raising awareness and to reduce the social stigma associated with the disease, and empowering communities.
- Under the Tuberculosis Health Action Learning Initiative (THALI) project, the World Health Partners (WHP) are has been awarded USD 7.5 million for implementing activities in Kolkata.
- Similarly Karnataka Health Promotion Trust (KHPT) is also awarded with UDS 7.5 million to for work in Bangalore, Hyderabad, and Pune.
- The projects will help to provide solutions and best practices for the successful diagnosis and treatment of TB in country.
- REACH (Resource Group for Education and Advocacy for Community Health) is awarded by USD 6 million and signed to continue their help, and try to make TB-free India campaign by the governments Call.
- These awards will help the government to provide novel solutions for the prevention and treatment of TB, especially among under-served urban slum residents and other low-income populations.
- USAID has worked with the Indian government to help identify and treat 15 millionpatients for TB in the last 18 years.
Keys- US Ambassador to India-Richard R Verma
- Union Health Minister JP Nadda
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