General Affairs
First meeting of NITI Aayog held
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In the first meeting of NITI Aayog on 6 February 2015, Prime Minister Narendra Modi took views of economists to boost growth, said Finance Minister Arun Jaitley.
The ex-officio members and special invitees of the Aayog also attended the first meeting of the body.
The first Vice-Chairman of the Aayog, Arvind Panagariya, and full time member Bibek Debroy and V K Saraswat had joined last month.
The ex-officio members are Home Minister Rajnath Singh, Finance Minister Arun Jaitley, Railway Minister Suresh Prabhu and Agriculture Minister Radha Mohan Singh.
The Aayog's special invitees are Road Transport and Highways Minister Nitin Gadkari, Social Justice and Empowerment Minister Thawar Chand Gehlot and Human Resource Development Minister Smriti Irani.
In the first meeting of NITI Aayog on 6 February 2015, Prime Minister Narendra Modi took views of economists to boost growth, said Finance Minister Arun Jaitley.
The ex-officio members and special invitees of the Aayog also attended the first meeting of the body.
The first Vice-Chairman of the Aayog, Arvind Panagariya, and full time member Bibek Debroy and V K Saraswat had joined last month.
The ex-officio members are Home Minister Rajnath Singh, Finance Minister Arun Jaitley, Railway Minister Suresh Prabhu and Agriculture Minister Radha Mohan Singh.
The Aayog's special invitees are Road Transport and Highways Minister Nitin Gadkari, Social Justice and Empowerment Minister Thawar Chand Gehlot and Human Resource Development Minister Smriti Irani.
Bhalchandra Nemade wins Jnanpith
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Bhalchandra Nemade, whose Kosala (Cocoon) published in 1963 transformed the Marathi novel, has been selected for the 50th Jnanpith Award for 2014.
The award likely to be presented in April , Leeladhar Mandloi, Director, Bharatiya Jnanpith, said on 6 February 2015.
The 10-member selection board, chaired by Namwar Singh, scholar, writer, and critic, selected the 76-year-old litterateur for the award at a meeting in New Delhi.
Nemade is the fourth Marathi writer to win the honour after V.S. Khandekar in 1974; V.V. Shirwadkar, aka Kusumagraj, in 1988; and Govind Karandikar, aka Vinda Karandikar, in 2003.
Bhalchandra Nemade, whose Kosala (Cocoon) published in 1963 transformed the Marathi novel, has been selected for the 50th Jnanpith Award for 2014.
The award likely to be presented in April , Leeladhar Mandloi, Director, Bharatiya Jnanpith, said on 6 February 2015.
The 10-member selection board, chaired by Namwar Singh, scholar, writer, and critic, selected the 76-year-old litterateur for the award at a meeting in New Delhi.
Nemade is the fourth Marathi writer to win the honour after V.S. Khandekar in 1974; V.V. Shirwadkar, aka Kusumagraj, in 1988; and Govind Karandikar, aka Vinda Karandikar, in 2003.
Micromax appointed Shubhajit Sen as new chief marketing officer
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India’s largest mobile vendor, Micromax has appointed Shubhajit Sen as its chief marketing officer (CMO).
His appointment seeks to boost its marketing efforts as it looks to further improve its position in the surging smartphone market in the country.
Before Micromax, Sen served as the executive vice president - marketing of Glaxo Smith Kline Consumer Health Ltd., for 21 years and served as the key resource to accentuate the successful journey of the company.
India’s largest mobile vendor, Micromax has appointed Shubhajit Sen as its chief marketing officer (CMO).
His appointment seeks to boost its marketing efforts as it looks to further improve its position in the surging smartphone market in the country.
Before Micromax, Sen served as the executive vice president - marketing of Glaxo Smith Kline Consumer Health Ltd., for 21 years and served as the key resource to accentuate the successful journey of the company.
Twitter & Google signed a deal to make tweets searchable
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Microblogging site Twitter Inc has reached a deal with Google Inc to make its tweets more searchable online according to reports.
Tweets will be visible in Google search results as soon as they are posted, starting during the first half of the year, the report said.
Twitter and Google engineers have started working on the project, it added. Terms of the deal were not disclosed.
Google previously had to crawl Twitter’s site for the information, which will now come automatically from Twitter.
Microblogging site Twitter Inc has reached a deal with Google Inc to make its tweets more searchable online according to reports.
Tweets will be visible in Google search results as soon as they are posted, starting during the first half of the year, the report said.
Twitter and Google engineers have started working on the project, it added. Terms of the deal were not disclosed.
Google previously had to crawl Twitter’s site for the information, which will now come automatically from Twitter.
Obama appointed Indian CEO Ajay Banga to a key administration position
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US President Barack Obama has appointed top Indian-American executive Ajay Banga to a key administrative position tasked with providing policy advice on international trade matters.
Banga, chairman of US-India Business Council, was appointed member of the Advisory Committee for Trade Policy and Negotiations, said the White House.Business Affairs
US President Barack Obama has appointed top Indian-American executive Ajay Banga to a key administrative position tasked with providing policy advice on international trade matters.
Banga, chairman of US-India Business Council, was appointed member of the Advisory Committee for Trade Policy and Negotiations, said the White House.Business Affairs
Business Affairs
Sensex ends 278 points up; Nifty at 7,489; Lupin top gainer post Q3
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The S&P BSE Sensex extended gains in trade on Friday to end 278 points higher, while broader CNX Nifty closed above its key 7,450-mark.
The benchmark indices gained as state-owned lenders such as State Bank of India recovered from recent sharp losses, but indexes still logged their fourth weekly loss in five highlighting fragility in sentiment.
The 30-share index ended the day at 24,616, up 278.54 points, while broad-based 50-share index quoted 7,489, up 85.10 points at close.
Market breadth turned positive with 22 of the 30 Sensex components ending the day in green.
Lupin was the best performing stock on both the headline indices and gained 9 per cent from intraday lows after the company reported better-than-expected net profit of Rs 530 crore against an average analysts' estimates of Rs 475 crore for the quarter ended December 2015.
The Nifty was down 1.3 per cent for the week after a fall in crude prices hit sentiment and after the Reserve Bank of India (RBI) kept interest rates unchanged on Tuesday.
But traders said they looked forward to a week-long holiday in China next week, given that it removes a potential source of selling pressure. Worries about the world's second largest economy have hit global markets this year.
"We were deeply oversold," said Hemen Kapadia, senior vice president, K R Choksey Securities.
"China on holiday next week aids sentiment."
Public sector banks were among the leading gainers after recent falls. SBI rose 3.16 per cent after falling 12.1 per cent over the last five trading sessions.
PNB has risen more than 5 per cent in the past three trading sessions after falling more than 22 per cent this year.
Tata Power gained as much as 2.46 per cent on optimism about its earnings due out later in the day. StarMine Smart Estimates suggest net income may beat consensus.
The S&P BSE Sensex extended gains in trade on Friday to end 278 points higher, while broader CNX Nifty closed above its key 7,450-mark.
The benchmark indices gained as state-owned lenders such as State Bank of India recovered from recent sharp losses, but indexes still logged their fourth weekly loss in five highlighting fragility in sentiment.
The 30-share index ended the day at 24,616, up 278.54 points, while broad-based 50-share index quoted 7,489, up 85.10 points at close.
Market breadth turned positive with 22 of the 30 Sensex components ending the day in green.
Lupin was the best performing stock on both the headline indices and gained 9 per cent from intraday lows after the company reported better-than-expected net profit of Rs 530 crore against an average analysts' estimates of Rs 475 crore for the quarter ended December 2015.
The Nifty was down 1.3 per cent for the week after a fall in crude prices hit sentiment and after the Reserve Bank of India (RBI) kept interest rates unchanged on Tuesday.
But traders said they looked forward to a week-long holiday in China next week, given that it removes a potential source of selling pressure. Worries about the world's second largest economy have hit global markets this year.
"We were deeply oversold," said Hemen Kapadia, senior vice president, K R Choksey Securities.
"China on holiday next week aids sentiment."
Public sector banks were among the leading gainers after recent falls. SBI rose 3.16 per cent after falling 12.1 per cent over the last five trading sessions.
PNB has risen more than 5 per cent in the past three trading sessions after falling more than 22 per cent this year.
Tata Power gained as much as 2.46 per cent on optimism about its earnings due out later in the day. StarMine Smart Estimates suggest net income may beat consensus.
7th Central Pay Commission: How 2016 is different vs 2008 for macros and markets
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Global financial services major UBS in a report said investors are complacent about any potential change in India's policy framework, especially in the backdrop of 7th Central Pay Commission. The brokerage expects CPC to negatively impact government's fiscal consolidation path and sees states to face bigger impact.
"Impact of CPC on Central government's fiscal is likely 0.4 per cent of GDP, which many investors viewed as not a big deal. The impact is however much bigger on states (over 1.1 per cent of GDP)," said UBS in a report.
UBS added that its baseline scenario is of a staggered, delayed or diluted implementation of CPC, but also said that any delay or dilution to CPC would be a negative surprise for specific sectors and stocks.
The report further noted that consumption boost is not guaranteed even with CPC, neither is it surely sustainable beyond 2-3 quarters.
The brokerage pointed out following five reasons that make macro backdrop in 2016 look very different from that of 2008, the last time India adopted Central Pay Commission (CPC) and expanded fiscally:
- Fiscal deficit: Country's central fiscal deficit was at 2.6 per cent as compared to 4.1 per cent in 2016, while combined fiscal deficit in 2008 came in at 4 per cent versus 6.3 per cent in 2016.
- Current account deficit: CAD widening was financed easily in 2008 given improving global liquidity or risk appetite, although current environment doesn't appear to be as conducive.
- International investors: Global investors invested heavily in government bonds. They were 1/10th of the $30 billion now. They arguably care more for macro stability vs near-term growth.
- GDP growth was slowing: GDP growth was not only slowing but also was ruling below trend versus a recovering (albeit slower than expected) economy now;
- Election scenario: Lok Sabha election was in 2009, while next one is due in 2019.
The global brokerage sees year-end Nifty target in 2016 at 8,200 level, which offers better risk-reward post recent correction. Its downside scenario implies end-2016 Nifty of 7,000.
Global financial services major UBS in a report said investors are complacent about any potential change in India's policy framework, especially in the backdrop of 7th Central Pay Commission. The brokerage expects CPC to negatively impact government's fiscal consolidation path and sees states to face bigger impact.
"Impact of CPC on Central government's fiscal is likely 0.4 per cent of GDP, which many investors viewed as not a big deal. The impact is however much bigger on states (over 1.1 per cent of GDP)," said UBS in a report.
UBS added that its baseline scenario is of a staggered, delayed or diluted implementation of CPC, but also said that any delay or dilution to CPC would be a negative surprise for specific sectors and stocks.
The report further noted that consumption boost is not guaranteed even with CPC, neither is it surely sustainable beyond 2-3 quarters.
The brokerage pointed out following five reasons that make macro backdrop in 2016 look very different from that of 2008, the last time India adopted Central Pay Commission (CPC) and expanded fiscally:
The brokerage pointed out following five reasons that make macro backdrop in 2016 look very different from that of 2008, the last time India adopted Central Pay Commission (CPC) and expanded fiscally:
- Fiscal deficit: Country's central fiscal deficit was at 2.6 per cent as compared to 4.1 per cent in 2016, while combined fiscal deficit in 2008 came in at 4 per cent versus 6.3 per cent in 2016.
- Current account deficit: CAD widening was financed easily in 2008 given improving global liquidity or risk appetite, although current environment doesn't appear to be as conducive.
- International investors: Global investors invested heavily in government bonds. They were 1/10th of the $30 billion now. They arguably care more for macro stability vs near-term growth.
- GDP growth was slowing: GDP growth was not only slowing but also was ruling below trend versus a recovering (albeit slower than expected) economy now;
- Election scenario: Lok Sabha election was in 2009, while next one is due in 2019.
The global brokerage sees year-end Nifty target in 2016 at 8,200 level, which offers better risk-reward post recent correction. Its downside scenario implies end-2016 Nifty of 7,000.
Telcos gear up for auction pricing battle against Trai
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Telecom operators will approach DoT to contest Trai's recommendations on spectrum auctions, especially on pricing of the premium 700 Mhz band.
"We will write to DoT by the end of next week for deferring auction of 700 Mhz band and on possible errors in calculation of price of 700 Mhz band (spectrum). Trai has fixed priced based on formula given 2012. Lot of things in the industry have changed since then," COAI Director General Rajan S Mathews told PTI.
Leading operators had requested the regulator to defer sale of 700 MHz spectrum, saying that ecosystem for providing services in this band was not developed and sale would lead to under-utilisation of the spectrum for several years and block industry's crucial fund.
The Telecom Regulatory Authority of India has recommended a record high base price of Rs 11,485 crore per Mhz for 700 Mhz which alone. If all the available frequencies gets sold at Trai suggested price then it alone will yield a whopping Rs 4 lakh crore.
As per Trai's paper, the cost of delivering mobile services in 700 Mhz band is approximately 70 per cent lower than 2100 Mhz band, which is widely used for 3G services.
The auction plan suggested by total potential revenue of Rs 5.36 lakh crore from the spectrum sale, expected to be held during May-June this year, is more than the double of gross revenues of telecom services industry. Telecom service providers had gross revenue of Rs 2.54 lakh crore in 2014-15 financial year.
Trai has used its old formula given in April 2012 spectrum price recommendation to fix price of 700 Mhz at four times of 1800 Mhz band spectrum price - widely known as 2G spectrum.
Most of telecom operators who have purchased 1800 Mhz band in 2012 or later are using it for 4G services.
Mathews said that Cellular Operators Association of India (COAI) also has objections on Trai's suggestion to reduce block size in 2300 Mhz band and 2500 Mhz band to 10 Mhz while in 2010 telecom operators like Infotel Broadband (now Reliance Jio), Airtel and Aircel were allowed to buy block of 20 Mhz.
"Government should give everyone equal opportunity. Across the world 20 Mhz block is a standard so it should be same in India," Mathews said.
Telecom operators will also raise issue of contiguous spectrum frequency in 1800 Mhz band.
"A contiguous spectrum will not only bring value for industry but also fetch good price in auctions," Mathews said.
While DoT has proposed to auction 21 Mhz of radiowave frequencies in 1800 Mhz band, Trai has suggested that on completion of harmonisation with Defence it can increase to 201 Mhz spectrum in the same band.
Telecom operators will approach DoT to contest Trai's recommendations on spectrum auctions, especially on pricing of the premium 700 Mhz band.
"We will write to DoT by the end of next week for deferring auction of 700 Mhz band and on possible errors in calculation of price of 700 Mhz band (spectrum). Trai has fixed priced based on formula given 2012. Lot of things in the industry have changed since then," COAI Director General Rajan S Mathews told PTI.
Leading operators had requested the regulator to defer sale of 700 MHz spectrum, saying that ecosystem for providing services in this band was not developed and sale would lead to under-utilisation of the spectrum for several years and block industry's crucial fund.
The Telecom Regulatory Authority of India has recommended a record high base price of Rs 11,485 crore per Mhz for 700 Mhz which alone. If all the available frequencies gets sold at Trai suggested price then it alone will yield a whopping Rs 4 lakh crore.
As per Trai's paper, the cost of delivering mobile services in 700 Mhz band is approximately 70 per cent lower than 2100 Mhz band, which is widely used for 3G services.
The auction plan suggested by total potential revenue of Rs 5.36 lakh crore from the spectrum sale, expected to be held during May-June this year, is more than the double of gross revenues of telecom services industry. Telecom service providers had gross revenue of Rs 2.54 lakh crore in 2014-15 financial year.
Trai has used its old formula given in April 2012 spectrum price recommendation to fix price of 700 Mhz at four times of 1800 Mhz band spectrum price - widely known as 2G spectrum.
Most of telecom operators who have purchased 1800 Mhz band in 2012 or later are using it for 4G services.
Mathews said that Cellular Operators Association of India (COAI) also has objections on Trai's suggestion to reduce block size in 2300 Mhz band and 2500 Mhz band to 10 Mhz while in 2010 telecom operators like Infotel Broadband (now Reliance Jio), Airtel and Aircel were allowed to buy block of 20 Mhz.
"Government should give everyone equal opportunity. Across the world 20 Mhz block is a standard so it should be same in India," Mathews said.
Telecom operators will also raise issue of contiguous spectrum frequency in 1800 Mhz band.
"A contiguous spectrum will not only bring value for industry but also fetch good price in auctions," Mathews said.
While DoT has proposed to auction 21 Mhz of radiowave frequencies in 1800 Mhz band, Trai has suggested that on completion of harmonisation with Defence it can increase to 201 Mhz spectrum in the same band.
Railway's revenue to increase by 50% over 5 years: Prabhu
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Hardselling Indian Railways as "the perfect destination", Railway Minister Suresh Prabhu on Friday said its revenue would rise by 50 per cent over the next five years as it scouted for foreign investment.
Addressing India Investment Summit 2016, he said India is the "most happening country" in the world at a time when major economies are witnessing a slowdown, which he said makes it all the more compelling to invest in railway.
The Railways, the Minister said, is trying to create a fund, with the World Bank as anchor and pension and sovereign wealth funds as co-investors.
"The Railways is the perfect destination... stream of income is guaranteed. The Railways is being owned by the Government of India. So, the capital is definitely completely safe," Prabhu told the investors.
On revenue growth, the minister is "sure that in next five years, (it) will increase at least by 50 per cent...so, revenues will rise and that will also provide some sort of comfort to investors".
The total earnings of the Indian Railways during in 2014-15 came in at Rs 1,57,880.5 crore as against Rs 1,40,761.27 crore in the previous year, an increase of 12.16 per cent.
The proposed fund would invest in projects selected by a professional fund managers, he added. The funds would be used for modernisation of railway as well.
Prabhu laid a premium on infrastructure as the best investment destination in India.
"Infrastructure deficiency in India is pretty large. We have to cover lots of ground, we have not still reached the desired destination of at least 10 per cent of GDP going into infrastructure investment and therefore... we need to put money in infrastructure, maybe even for the next two decades minimum," the minister said.
Investment in railway, Prabhu added, would spur economic growth in India, which means benefits for the global economy as well.
Hardselling Indian Railways as "the perfect destination", Railway Minister Suresh Prabhu on Friday said its revenue would rise by 50 per cent over the next five years as it scouted for foreign investment.
Addressing India Investment Summit 2016, he said India is the "most happening country" in the world at a time when major economies are witnessing a slowdown, which he said makes it all the more compelling to invest in railway.
The Railways, the Minister said, is trying to create a fund, with the World Bank as anchor and pension and sovereign wealth funds as co-investors.
"The Railways is the perfect destination... stream of income is guaranteed. The Railways is being owned by the Government of India. So, the capital is definitely completely safe," Prabhu told the investors.
On revenue growth, the minister is "sure that in next five years, (it) will increase at least by 50 per cent...so, revenues will rise and that will also provide some sort of comfort to investors".
The total earnings of the Indian Railways during in 2014-15 came in at Rs 1,57,880.5 crore as against Rs 1,40,761.27 crore in the previous year, an increase of 12.16 per cent.
The proposed fund would invest in projects selected by a professional fund managers, he added. The funds would be used for modernisation of railway as well.
Prabhu laid a premium on infrastructure as the best investment destination in India.
"Infrastructure deficiency in India is pretty large. We have to cover lots of ground, we have not still reached the desired destination of at least 10 per cent of GDP going into infrastructure investment and therefore... we need to put money in infrastructure, maybe even for the next two decades minimum," the minister said.
Investment in railway, Prabhu added, would spur economic growth in India, which means benefits for the global economy as well.
Budget to provide Rs 1.10 lakh crore for Pay panel, OROP: Arun Jaitley
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Budget for the next fiscal needs to provide Rs 1.10 lakh crore for implementing the OROP and 7th Pay Commission award, besides a higher allocation for the farm sector, Finance Minister Arun Jaitley said on Friday.
Addressing the Consultative Committee attached to the Finance Ministry, he also said that India has potential to grow at a much faster pace even as he exuded confidence that fiscal deficit target for current financial year will be within target.
"During the financial year 2016-17, the central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and One Rank One Pension (OROP) Scheme," Jaitley said.
He also said that the agriculture growth in the last two years has suffered mainly due to insufficient monsoons and highest ever amount was given to the states for drought relief during the current financial year, 2015-16.
"More incentives will be given to agriculture sector for increasing agriculture production and productivity," he said.
India, he said, continues to be one of the fastest growing economies in the world, but there is still potential to grow at a much faster pace.
"The world economy is passing through an uncertain and fragile situation... The silver lining is low international commodities and oil prices which in turn has helped in better macroeconomic situation of the country," Jaitley said.
The 7th Pay Commission in November recommended increase in remuneration of about one crore government employees and pensioners which is estimated to impose an additional burden of Rs 1.02 lakh crore in 2016-17. The new pay scales, subject to acceptance by government, will come into effect from January 1, 2016.
The government had last year announced that it will implement OROP under which a uniform pension would be given to armed forces personnel retiring at the same rank with the same length of service. The scheme would be implemented from July 1, 2014.
Budget for the next fiscal needs to provide Rs 1.10 lakh crore for implementing the OROP and 7th Pay Commission award, besides a higher allocation for the farm sector, Finance Minister Arun Jaitley said on Friday.
Addressing the Consultative Committee attached to the Finance Ministry, he also said that India has potential to grow at a much faster pace even as he exuded confidence that fiscal deficit target for current financial year will be within target.
"During the financial year 2016-17, the central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and One Rank One Pension (OROP) Scheme," Jaitley said.
He also said that the agriculture growth in the last two years has suffered mainly due to insufficient monsoons and highest ever amount was given to the states for drought relief during the current financial year, 2015-16.
"More incentives will be given to agriculture sector for increasing agriculture production and productivity," he said.
India, he said, continues to be one of the fastest growing economies in the world, but there is still potential to grow at a much faster pace.
"The world economy is passing through an uncertain and fragile situation... The silver lining is low international commodities and oil prices which in turn has helped in better macroeconomic situation of the country," Jaitley said.
The 7th Pay Commission in November recommended increase in remuneration of about one crore government employees and pensioners which is estimated to impose an additional burden of Rs 1.02 lakh crore in 2016-17. The new pay scales, subject to acceptance by government, will come into effect from January 1, 2016.
The government had last year announced that it will implement OROP under which a uniform pension would be given to armed forces personnel retiring at the same rank with the same length of service. The scheme would be implemented from July 1, 2014.
General Awareness
India submits first Biennial Update Report to UNFCCC
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India has submitted its first Biennial Update Report (BUR) to the United Nations Framework Convention on Climate Change (UNFCCC) towards fulfillment of the reporting obligation. The BUR has been submitted as per the provisions of the UNFCCC Convention which is obligatory on countries to periodically provide national information.
Key highlights of BUR
BUR has been prepared by the Union Ministry of Environment, Forest and Climate Change (UNFCC) under its NATCOM project funded by Global Environment Facility (GEF).
Contains national inventory of Green House Gases (GHG) for 2010 and has been prepared in accordance with the guidelines of Intergovernmental Panel on Climate Change (IPCC).
6 GHGs in Inventory: Carbon dioxide (CO2), Methane (CH4), Perfluorocarbons (PFCs), Nitrous Oxide (N2O), Sulfur Hexafluoride (SF6) and Hydrofluorocarbons (HFCs).
Five categories: It covers agriculture, waste and Land-use, Land-use, Change and Forestry (LULUCF), energy, industrial processes and product use (IPPU),.
India’s emissions: India has emitted around 2,137 million tonnes (mt) of CO2 equivalent GHGs in 2010. About 12% of emissions were offset by carbon sink action of croplands and forests. Thus, total of 1,884.31 million tonnes of CO2 equivalent GHGs were emitted. In 2010, India’s per capita GHG emission was less than one- third of the world’s per capita emissions. It is far below many developed and developing countries.
Category wise Emissions: Energy sector was the prime contributor to emissions with 71%. While, agriculture contributed 18 % and IPPU 8% to the national GHG inventory.
Background
In the conference of Parties (COP)-16 of UNFCCC held in Cancun (Mexico) in 2010 it was decided that the developing countries will submit updates in the form of BUR. The scope of a BUR is to provide an update to the latest National Communication submitted by the country to the UNFCCC. Accordingly, India’s first BUR is an update to the Second National Communication which was submitted in 2012. India had submitted its first national communication in 2004.
- India has submitted its first Biennial Update Report (BUR) to the United Nations Framework Convention on Climate Change (UNFCCC) towards fulfillment of the reporting obligation. The BUR has been submitted as per the provisions of the UNFCCC Convention which is obligatory on countries to periodically provide national information.
Key highlights of BUR
BUR has been prepared by the Union Ministry of Environment, Forest and Climate Change (UNFCC) under its NATCOM project funded by Global Environment Facility (GEF).
Contains national inventory of Green House Gases (GHG) for 2010 and has been prepared in accordance with the guidelines of Intergovernmental Panel on Climate Change (IPCC).
6 GHGs in Inventory: Carbon dioxide (CO2), Methane (CH4), Perfluorocarbons (PFCs), Nitrous Oxide (N2O), Sulfur Hexafluoride (SF6) and Hydrofluorocarbons (HFCs).
Five categories: It covers agriculture, waste and Land-use, Land-use, Change and Forestry (LULUCF), energy, industrial processes and product use (IPPU),.
India’s emissions: India has emitted around 2,137 million tonnes (mt) of CO2 equivalent GHGs in 2010. About 12% of emissions were offset by carbon sink action of croplands and forests. Thus, total of 1,884.31 million tonnes of CO2 equivalent GHGs were emitted. In 2010, India’s per capita GHG emission was less than one- third of the world’s per capita emissions. It is far below many developed and developing countries.
Category wise Emissions: Energy sector was the prime contributor to emissions with 71%. While, agriculture contributed 18 % and IPPU 8% to the national GHG inventory.
Background
In the conference of Parties (COP)-16 of UNFCCC held in Cancun (Mexico) in 2010 it was decided that the developing countries will submit updates in the form of BUR. The scope of a BUR is to provide an update to the latest National Communication submitted by the country to the UNFCCC. Accordingly, India’s first BUR is an update to the Second National Communication which was submitted in 2012. India had submitted its first national communication in 2004.
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