General Affairs
Delhi Government Allots Rs 763 Crore For Metro In Its Budget
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NEW DELHI: Delhi government, which holds a stake in the Delhi Metro Rail Corporation (DMRC), today allocated Rs 763 crore in its Budget for the mass rapid transit system, the daily ridership of which is expected to rise to 41 lakh by this year end.
At present, about 27 lakh people commute daily across the national capital using the Metro. The ridership which is expected to increase to 41 lakh after the completion of its phase-III will bring more areas into its fold, Deputy Chief Minister Manish Sisodia said while presenting the annual Budget.
One section of the under-construction phase-III network, stretching from Jahangirpuri to Badli, was operationalised in November last year.
Last month, the Union government had announced Rs 5,579 crore for DMRC in the Union Budget, a jump of about 31 per cent over the previous year.
Besides, about 248 new mini-buses will be inducted in the Metro feeder bus fleet, taking their count to 517 across 93 routes during 2016-17.
NEW DELHI: Delhi government, which holds a stake in the Delhi Metro Rail Corporation (DMRC), today allocated Rs 763 crore in its Budget for the mass rapid transit system, the daily ridership of which is expected to rise to 41 lakh by this year end.At present, about 27 lakh people commute daily across the national capital using the Metro. The ridership which is expected to increase to 41 lakh after the completion of its phase-III will bring more areas into its fold, Deputy Chief Minister Manish Sisodia said while presenting the annual Budget.
One section of the under-construction phase-III network, stretching from Jahangirpuri to Badli, was operationalised in November last year.
Last month, the Union government had announced Rs 5,579 crore for DMRC in the Union Budget, a jump of about 31 per cent over the previous year.
Besides, about 248 new mini-buses will be inducted in the Metro feeder bus fleet, taking their count to 517 across 93 routes during 2016-17.
Nothing Wrong If Pakistan Wants To Probe Pathankot Terror Case, Says BJP
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NEW DELHI: Under Congress' attack over Pakistan's Joint Investigation Team's visit to India, BJP today said there is nothing wrong if the neighbouring country wanted to probe Pathankot terror case as it claimed that this was the first time Pakistan had offered "assurance" of action.
BJP said the visit came after Prime Minister Narendra Modi demanded firm action from his Pakistan counterpart following the attack and credited the government for the "most successful anti-fidayeen" operation in Pathankot.
"Congress should not level baseless allegations," BJP national secretary Shrikant Sharma said after the opposition party accused the government of rolling out "red carpet" to the Pakistan's team, alleging it was "like asking murderer to come and investigate as to who murdered the child."
Mr Sharma cited the Mumbai terror attack to hit out at Congress, saying it happened due to the Manmohan Singh's government "failure" to act adequately over intelligence input.
"Congress should learn from the past and not level baseless charges," he said.
NEW DELHI: Under Congress' attack over Pakistan's Joint Investigation Team's visit to India, BJP today said there is nothing wrong if the neighbouring country wanted to probe Pathankot terror case as it claimed that this was the first time Pakistan had offered "assurance" of action.BJP said the visit came after Prime Minister Narendra Modi demanded firm action from his Pakistan counterpart following the attack and credited the government for the "most successful anti-fidayeen" operation in Pathankot.
"Congress should not level baseless allegations," BJP national secretary Shrikant Sharma said after the opposition party accused the government of rolling out "red carpet" to the Pakistan's team, alleging it was "like asking murderer to come and investigate as to who murdered the child."
Mr Sharma cited the Mumbai terror attack to hit out at Congress, saying it happened due to the Manmohan Singh's government "failure" to act adequately over intelligence input.
"Congress should learn from the past and not level baseless charges," he said.
India's Economy A Bright Spot Due To Good Policies: PM Modi
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NEW DELHI: Prime Minister Narendra Modi on Monday said that India's economy was a bright spot in the world due to his government's good policies and not good fortune.
Addressing 'Bloomberg India Economic Forum 2016' meeting in Delhi, he said that the Indian economy was doing well despite various problems and bad weather conditions that impacted agriculture.
"We have not been lucky with the global trade. We have not been lucky with the weather. But the fact remains that the Indian economy is doing well as a result of effective management," he said.
Outlining his government economic policies, Prime Minister Modi said all possible efforts were being made to achieve higher growth rate in all sectors.
The Prime Minister said he was confident that despite adverse situations, the government would be able to achieve the desired results.
He said investments during the third quarter of the current fiscal had been a "record" in sectors like agriculture and others.
"This is a concrete evidence that 'Make in India' initiative of the government is having a good impact," he said.
During his speech, which was shown live in various countries, Prime Minister Modi spoke in detail about India's rural economy, saying that once it improved it would have a good effect on other sectors as well.
Stressing on good irrigation and quality seeds, he said that the central government had its focus on the problems of the farmers.
"We plan to double farmers' income in the years to come, he said, adding that the government was investing in cold storages and trying to reduce post-harvest losses of the farmers.
"We will ensure that higher share in profits (from farm produce) goes to the farmers," he said.
"I am sure that we will achieve the target of doubling the income of farmers," the Prime Minister said.
He also criticised the previous central government for its failure to implement the Food Security Act in totality and not doing much through the Mahatma Gandhi National Rural Employment Guarantee Act scheme.
Prime Minister Modi said that his government was performing well in these fields.
He said he would be able to transform the country with public support.
"There will be difficulties, but it's doable and we will do it," the Prime Minister added.
NEW DELHI: Prime Minister Narendra Modi on Monday said that India's economy was a bright spot in the world due to his government's good policies and not good fortune.Addressing 'Bloomberg India Economic Forum 2016' meeting in Delhi, he said that the Indian economy was doing well despite various problems and bad weather conditions that impacted agriculture.
"We have not been lucky with the global trade. We have not been lucky with the weather. But the fact remains that the Indian economy is doing well as a result of effective management," he said.
Outlining his government economic policies, Prime Minister Modi said all possible efforts were being made to achieve higher growth rate in all sectors.
The Prime Minister said he was confident that despite adverse situations, the government would be able to achieve the desired results.
He said investments during the third quarter of the current fiscal had been a "record" in sectors like agriculture and others.
"This is a concrete evidence that 'Make in India' initiative of the government is having a good impact," he said.
During his speech, which was shown live in various countries, Prime Minister Modi spoke in detail about India's rural economy, saying that once it improved it would have a good effect on other sectors as well.
Stressing on good irrigation and quality seeds, he said that the central government had its focus on the problems of the farmers.
"We plan to double farmers' income in the years to come, he said, adding that the government was investing in cold storages and trying to reduce post-harvest losses of the farmers.
"We will ensure that higher share in profits (from farm produce) goes to the farmers," he said.
"I am sure that we will achieve the target of doubling the income of farmers," the Prime Minister said.
He also criticised the previous central government for its failure to implement the Food Security Act in totality and not doing much through the Mahatma Gandhi National Rural Employment Guarantee Act scheme.
Prime Minister Modi said that his government was performing well in these fields.
He said he would be able to transform the country with public support.
"There will be difficulties, but it's doable and we will do it," the Prime Minister added.
11 Maoists Surrender In Chhattisgarh's Kondagaon District
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RAIPUR: Eleven lower-rung Maoists including two women today surrendered in Chhattisgarh's Kondagaon district, police said.
The cadres, three of them carrying cash rewards on their heads, turned themselves in before senior police officials at Kondagaon district headquarter citing disappointment with the Maoist ideology and ill-treatment by senior cadres, Kondagaon Superintendent of Police JS Watti said.
They were active as 'Jan Militia' members of the outlawed CPI (Maoist) in the region and are residents of Bayanar, Rajbeda and Choote Usari villages of the district, he said.
"Among them, Paklu Salam was carrying a reward of Rs 5,000 on his head while a reward of Rs 2,000 each was announced for the arrest of Mistri Netam (30) and Sunita (23)," the SP said.
They will be ensured facilities in accordance with the rehabilitation and surrender policy of the state government, he said.
In a separate incident, six suspected Maoists were arrested during a joint search operation by the security forces in Sukma district of the state.
A composite squad of CRPF, district police and District Reserve Group (DRG) had launched a search operation from Gadiras police station to the interior forests, located around 450 kms away from Raipur, a senior police official said.
During the operation, the security forces nabbed six persons from Gufdi village, he said.
Those arrested were identified as Kalmu Deva (30), was carrying a reward of Rs 5,000 on his head, Sodhi Ganga (26), Sodhi Chula (24), Hemla Joga (24), Madvi Nanda (25) and Kavasi Aayat (26)-- all residents of Gufdi and Bagdeguda villages.
They were allegedly involved in the attack on polling parties during panchayat elections last year and had looted polling materials, the officer said.
The cadres, three of them carrying cash rewards on their heads, turned themselves in before senior police officials at Kondagaon district headquarter citing disappointment with the Maoist ideology and ill-treatment by senior cadres, Kondagaon Superintendent of Police JS Watti said.
They were active as 'Jan Militia' members of the outlawed CPI (Maoist) in the region and are residents of Bayanar, Rajbeda and Choote Usari villages of the district, he said.
"Among them, Paklu Salam was carrying a reward of Rs 5,000 on his head while a reward of Rs 2,000 each was announced for the arrest of Mistri Netam (30) and Sunita (23)," the SP said.
They will be ensured facilities in accordance with the rehabilitation and surrender policy of the state government, he said.
In a separate incident, six suspected Maoists were arrested during a joint search operation by the security forces in Sukma district of the state.
A composite squad of CRPF, district police and District Reserve Group (DRG) had launched a search operation from Gadiras police station to the interior forests, located around 450 kms away from Raipur, a senior police official said.
During the operation, the security forces nabbed six persons from Gufdi village, he said.
Those arrested were identified as Kalmu Deva (30), was carrying a reward of Rs 5,000 on his head, Sodhi Ganga (26), Sodhi Chula (24), Hemla Joga (24), Madvi Nanda (25) and Kavasi Aayat (26)-- all residents of Gufdi and Bagdeguda villages.
They were allegedly involved in the attack on polling parties during panchayat elections last year and had looted polling materials, the officer said.
Shreehari Aney Meets Ex-Lawmaker To Discuss Separate Vidarbha Strategy
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NAGPUR: Intensifying the separate Vidarbha demand, former Maharashtra Advocate General Shreehari Aney and ex-lawamker Datta Meghe have decided to set up a co-ordination committee involving major outfits, spearheading the movement.
Mr Aney met Mr Meghe at his residence yesterday and had a detailed discussion on the issue.
Notably, Mr Aney, who resigned as Advocate General last week in the wake of his remarks over statehood for Marathwada, has already addressed a couple of meetings at the district and taluka-level across Vidarbha region recently.
"We had a good meeting on spearheading the movement of creating separate Vidarbha. We will hold a meeting on April 8 to set up a much required co-ordination committee which will be represented by Vidarbha Pradesh Vikas Parishad, founded 11 years ago; Jan Manch and Vidarbha Economic Development Council (VED)," Mr Meghe told Press Trust of India today.
The former Rajya Sabha lawmaker from the NCP, who may not visit Delhi to take part in the sit-in agitation scheduled on March 31 organised by pro-Vidarbha outfits due to preoccupations, said, Mr Aney will not only participate but also explore the possibility of facilitating a combined meeting of pro Vidarbha leaders with top leadership of parties like BSP, AAP and JD(U) there.
It was also decided that people in general may not get involved in the movement at the first go, therefore, creating awareness about the demand is the top priority, Mr Meghe said.
NAGPUR: Intensifying the separate Vidarbha demand, former Maharashtra Advocate General Shreehari Aney and ex-lawamker Datta Meghe have decided to set up a co-ordination committee involving major outfits, spearheading the movement.Mr Aney met Mr Meghe at his residence yesterday and had a detailed discussion on the issue.
"We had a good meeting on spearheading the movement of creating separate Vidarbha. We will hold a meeting on April 8 to set up a much required co-ordination committee which will be represented by Vidarbha Pradesh Vikas Parishad, founded 11 years ago; Jan Manch and Vidarbha Economic Development Council (VED)," Mr Meghe told Press Trust of India today.
The former Rajya Sabha lawmaker from the NCP, who may not visit Delhi to take part in the sit-in agitation scheduled on March 31 organised by pro-Vidarbha outfits due to preoccupations, said, Mr Aney will not only participate but also explore the possibility of facilitating a combined meeting of pro Vidarbha leaders with top leadership of parties like BSP, AAP and JD(U) there.
It was also decided that people in general may not get involved in the movement at the first go, therefore, creating awareness about the demand is the top priority, Mr Meghe said.
Business Affairs
Investors lose Rs 1.24 lakh cr as Sensex sinks by 371 pts
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Total investor wealth declined by over Rs 1.24 lakh crore on Monday as the benchmark BSE Sensex plummeted by over 371 points due to profit booking in recent out-performers ahead of derivatives settlement on Thursday.
Tracking the weakness, the market capitalisation of BSE-listed companies slumped by Rs 1,24,967 crore to Rs 93,04,375 crore at close on Monday.
The index plunged by 371.16 points or 1.46 per cent to end at 24,966.40, registering its biggest fall in five weeks.
The gauge fell below the psychological 25,000-level to touch a low of 24,895.49 due to widespread profit-booking.
"Markets started the week on a weak note. The weakness persisted during the day, ahead of the expiry on Thursday and followed a strong performance of the markets over the past four weeks," said Dipen Shah, Senior Vice-President & Head of Private Client Group Research, Kotak Securities.
Stock exchanges were closed on Thursday and Friday for 'Holi' and 'Good Friday', respectively.
The index had risen 660.19 points in the past four sessions.
Of the 30-share Sensex pack, 27 lost while NTPC, GAIL and Bajaj Auto finished higher.
Sectorwise, the BSE realty index fell 4.35 per cent, followed by metal 3.92 per cent and consumer durables 3.48 per cent.
At the BSE, 1,998 stocks declined, while 699 advanced.
152 stocks remained unchanged.
Total investor wealth declined by over Rs 1.24 lakh crore on Monday as the benchmark BSE Sensex plummeted by over 371 points due to profit booking in recent out-performers ahead of derivatives settlement on Thursday.
Tracking the weakness, the market capitalisation of BSE-listed companies slumped by Rs 1,24,967 crore to Rs 93,04,375 crore at close on Monday.
The index plunged by 371.16 points or 1.46 per cent to end at 24,966.40, registering its biggest fall in five weeks.
The gauge fell below the psychological 25,000-level to touch a low of 24,895.49 due to widespread profit-booking.
"Markets started the week on a weak note. The weakness persisted during the day, ahead of the expiry on Thursday and followed a strong performance of the markets over the past four weeks," said Dipen Shah, Senior Vice-President & Head of Private Client Group Research, Kotak Securities.
Stock exchanges were closed on Thursday and Friday for 'Holi' and 'Good Friday', respectively.
The index had risen 660.19 points in the past four sessions.
Of the 30-share Sensex pack, 27 lost while NTPC, GAIL and Bajaj Auto finished higher.
Sectorwise, the BSE realty index fell 4.35 per cent, followed by metal 3.92 per cent and consumer durables 3.48 per cent.
At the BSE, 1,998 stocks declined, while 699 advanced.
152 stocks remained unchanged.
PM Narendra Modi to launch 'Stand Up India' scheme on April 5
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Prime Minister Narendra Modi will on April 5 inaugurate Stand Up India initiative which is aimed at creating jobs and promoting entreprenuers among SC, ST and women by extending loans at cheaper rates.
The programme will be launched by Modi at a function to be held at Noida.
The Cabinet, headed by Modi, had in January approved 'Stand up India' scheme for providing credit to SC, ST and women entrepreneurs at lower rates.
Under the scheme, which will be implemented through 1.25 lakh bank branches, banks will give loans at the "least applicable rate" of interest.
Also every bank branch, including private sector, will give loans between Rs 10 lakh and 1 crore to at least one SC/ST and one woman entrepreneur under the scheme.
Prime Minister Narendra Modi will on April 5 inaugurate Stand Up India initiative which is aimed at creating jobs and promoting entreprenuers among SC, ST and women by extending loans at cheaper rates.
The programme will be launched by Modi at a function to be held at Noida.
The Cabinet, headed by Modi, had in January approved 'Stand up India' scheme for providing credit to SC, ST and women entrepreneurs at lower rates.
Under the scheme, which will be implemented through 1.25 lakh bank branches, banks will give loans at the "least applicable rate" of interest.
Also every bank branch, including private sector, will give loans between Rs 10 lakh and 1 crore to at least one SC/ST and one woman entrepreneur under the scheme.
Govt to rely on state miners to meet coal target: Piyush Goyal
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Government will meet its target of doubling coal production by 2020 without the help of private miners, coal and power minister said, ruling out new measures to entice cash-strapped companies to begin mining the commodity.
Govt wants to produce 1.5 billion tonnes of coal by 2020 to power its economy and reduce imports. State-owned Coal India Ltd, the world's largest coal miner, has raised production in line with reaching a target of 1 billion tonnes a year within four years and the government wants private miners to produce much of the remainder.
But only a few companies that won the right to mine coal for their power plants last year have started production as they struggle to recover their costs, while the ministry this month delayed plans to open up commercial mining to private firms because of weak demand and depressed coal prices.
Piyush Goyal, power and coal minister, told Reuters that state-owned companies including power producer NTPC Ltd, Steel Authority of India Ltd and National Aluminium Co Ltd would instead pick up the slack by expanding their own mining operations.
"That target I will meet even if (private companies) don't come in," he said in a interview on March 23. "In the days to come I'll be auctioning out more mines. I've already got my plans in place."
NTPC is on course to produce 300 million tonnes alone by 2020, said Goyal, a former investment banker.
India's success in boosting its coal output after years of missed production targets has been central to Prime Minister Narendra Modi's energy policy.
Despite environmental worries, India plans to continue to depend on burning coal to provide power for its 1.3 billion people, some 300 million of whom still lack access to electricity.
The government last year auctioned off captive mines, sites already near end-users such as power plants, to private firms such as Hindalco Industries Ltd and Adani Power Ltd.
But most companies have not begun mining and have warned that rules prohibiting them from passing on rising costs to end-users make it tough to recover their costs after aggressive bidding during the auctions.
Goyal, however, said he would stick with the current system.
"These coal mines were given out by a system where the price benefit would go out to the people of India. It was a transparent bid by independent people without any compulsion to bid any price," he said. "They bid and they got it."
While Indian demand for coal has been lower-than-expected, Goyal said a major reform of indebted electricity distributors would soon free these utilities to start buying more power, boosting demand for coal.
Total investment into India's energy sector reached around $50 billion this financial year, he said, with roughly the same level expected next year as the government tenders new wind and solar projects and upgrades transmission lines.
Government will meet its target of doubling coal production by 2020 without the help of private miners, coal and power minister said, ruling out new measures to entice cash-strapped companies to begin mining the commodity.
Govt wants to produce 1.5 billion tonnes of coal by 2020 to power its economy and reduce imports. State-owned Coal India Ltd, the world's largest coal miner, has raised production in line with reaching a target of 1 billion tonnes a year within four years and the government wants private miners to produce much of the remainder.
But only a few companies that won the right to mine coal for their power plants last year have started production as they struggle to recover their costs, while the ministry this month delayed plans to open up commercial mining to private firms because of weak demand and depressed coal prices.
Piyush Goyal, power and coal minister, told Reuters that state-owned companies including power producer NTPC Ltd, Steel Authority of India Ltd and National Aluminium Co Ltd would instead pick up the slack by expanding their own mining operations.
"That target I will meet even if (private companies) don't come in," he said in a interview on March 23. "In the days to come I'll be auctioning out more mines. I've already got my plans in place."
NTPC is on course to produce 300 million tonnes alone by 2020, said Goyal, a former investment banker.
India's success in boosting its coal output after years of missed production targets has been central to Prime Minister Narendra Modi's energy policy.
Despite environmental worries, India plans to continue to depend on burning coal to provide power for its 1.3 billion people, some 300 million of whom still lack access to electricity.
The government last year auctioned off captive mines, sites already near end-users such as power plants, to private firms such as Hindalco Industries Ltd and Adani Power Ltd.
But most companies have not begun mining and have warned that rules prohibiting them from passing on rising costs to end-users make it tough to recover their costs after aggressive bidding during the auctions.
Goyal, however, said he would stick with the current system.
"These coal mines were given out by a system where the price benefit would go out to the people of India. It was a transparent bid by independent people without any compulsion to bid any price," he said. "They bid and they got it."
While Indian demand for coal has been lower-than-expected, Goyal said a major reform of indebted electricity distributors would soon free these utilities to start buying more power, boosting demand for coal.
Total investment into India's energy sector reached around $50 billion this financial year, he said, with roughly the same level expected next year as the government tenders new wind and solar projects and upgrades transmission lines.
Raghuram Rajan for guidelines by nations on monetary policy behaviour
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There should be guidelines for responsible monetary policy behaviour globally as aggressive actions by one nation can lead to significant adverse cross-border spillovers on others, RBI Governor Raghuram Rajan has suggested.
"Aggressive monetary policy actions by one country can lead to significant adverse cross-border spillovers on others, especially as countries contend with the zero lower bound. If countries do not internalize these spillovers, they may undertake policies that are collectively suboptimal. Perhaps instead, countries could agree to guidelines for responsible behavior that would improve collective outcomes," Rajan said in a working paper posted on the website of RBI.
He has written working paper titled 'Rules of Monetary Policy' with Prachi Mishra.
Rajan said monetary policy could be broadly characterised and rated based on analytical inputs and discussion.
"Policies that generally have positive or domestic effects could be rated green, policies that should be used temporarily and with care could be rated orange, and policies that should be avoided at all times could be rated red," he said.
Rajan, who was chief economist at IMF, said if a policy has positive effects on both home and foreign countries, and therefore on global welfare, it would definitely be rated green.
The US Federal Reserve has also developed a multi country dynamic general equilibrium model called SIGMA, which has also been used for analysis of spillovers.
Noting that economic analysis of the issues is at an early stage, Rajan said it is unlikely "we will get strong policy prescriptions soon, let alone international agreement on them, especially given that a number of country authorities like central banks have explicit domestic mandates".
He added: "Such a discussion need not take place in an environment of finger pointing and defensiveness, but as an attempt to understand what can be reasonable, and not overly intrusive, rules of conduct."
Rajan said as consensus builds on the rules of conduct, "we can contemplate the next step of whether to codify them through international agreement, see how the Articles of multilateral watchdogs like the IMF will have to be altered, and how country authorities will interpret or alter domestic mandates to incorporate international responsibilities".
Asserting that unconventional monetary policy used by industrialised nations has impact globally, Rajan had said earlier this month that there was a need to discuss the issue and analyse its spillover effect.
Rajan, who was Chief Economist at IMF, has also stated in the paper that the temptation to shift costs can create inefficiencies when countries set their policies unilaterally.
"If countries agree on a set of new rules or principles, which describe the limits of acceptable behavior, it can reduce the inefficiencies and lead to higher welfare in all the countries," he said.
Rajan noted however that this does not mean countries have to coordinate policies, only that they have to become better global citizens "provided we can find clear and mutually acceptable rules".
There should be guidelines for responsible monetary policy behaviour globally as aggressive actions by one nation can lead to significant adverse cross-border spillovers on others, RBI Governor Raghuram Rajan has suggested.
"Aggressive monetary policy actions by one country can lead to significant adverse cross-border spillovers on others, especially as countries contend with the zero lower bound. If countries do not internalize these spillovers, they may undertake policies that are collectively suboptimal. Perhaps instead, countries could agree to guidelines for responsible behavior that would improve collective outcomes," Rajan said in a working paper posted on the website of RBI.
He has written working paper titled 'Rules of Monetary Policy' with Prachi Mishra.
Rajan said monetary policy could be broadly characterised and rated based on analytical inputs and discussion.
"Policies that generally have positive or domestic effects could be rated green, policies that should be used temporarily and with care could be rated orange, and policies that should be avoided at all times could be rated red," he said.
Rajan, who was chief economist at IMF, said if a policy has positive effects on both home and foreign countries, and therefore on global welfare, it would definitely be rated green.
The US Federal Reserve has also developed a multi country dynamic general equilibrium model called SIGMA, which has also been used for analysis of spillovers.
Noting that economic analysis of the issues is at an early stage, Rajan said it is unlikely "we will get strong policy prescriptions soon, let alone international agreement on them, especially given that a number of country authorities like central banks have explicit domestic mandates".
He added: "Such a discussion need not take place in an environment of finger pointing and defensiveness, but as an attempt to understand what can be reasonable, and not overly intrusive, rules of conduct."
Rajan said as consensus builds on the rules of conduct, "we can contemplate the next step of whether to codify them through international agreement, see how the Articles of multilateral watchdogs like the IMF will have to be altered, and how country authorities will interpret or alter domestic mandates to incorporate international responsibilities".
Asserting that unconventional monetary policy used by industrialised nations has impact globally, Rajan had said earlier this month that there was a need to discuss the issue and analyse its spillover effect.
Rajan, who was Chief Economist at IMF, has also stated in the paper that the temptation to shift costs can create inefficiencies when countries set their policies unilaterally.
"If countries agree on a set of new rules or principles, which describe the limits of acceptable behavior, it can reduce the inefficiencies and lead to higher welfare in all the countries," he said.
Rajan noted however that this does not mean countries have to coordinate policies, only that they have to become better global citizens "provided we can find clear and mutually acceptable rules".
Export ills: Is there a Cure?
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In 2012/13, when Pune-based Bharat Forge (BFL), a leading global automotive component manufacturer, faced a major demand contraction in its mainstay business, it quickly diversified its product offerings and increased its revenues from manufacturing equipment and components for the oil and gas, and mining sectors - the high-growth industrial segments back then. This helped the company minimise the impact of revenue loss from the automotive sector.
Cut to the current financial year. While BFL's industrial business fell by 36 per cent in the first nine months of 2015/16 over the corresponding period of 2014/15, its passenger vehicle segment sector grew 112 per cent due to a ramp up in new orders during the same period, limiting the erosion in its overall revenues. Amit B. Kalyani, Executive Director, BFL, says the industrial business, which accounts for almost 35 per cent to its revenues, will remain soft in the near-term. "Weakness continues unabated, largely driven by the (fall in) commodity prices," he adds.
BFL had shipped 7 per cent less tonnage between September and December 2015 compared to the preceding three months. Its standalone earnings for the third quarter were Rs 1,052 crore, lower than the Rs 1,197crore during the preceding quarter. In fact, the crash in commodity prices, fall in demand in metals and commodities from key countries, including China, a glut in oil supply and the resultant record low oil prices have taken a toll on the entire oil, metal and mineral ecosystem. "The whole commodity cycle has finally taken a hit," says Kalyani.
Similarly, India's export earnings from engineering products, too, fell to $4.57 billion in February - down 11.2 per cent from the $5.15 billion registered in February 2015. For BFL, the earnings decline was primarily led by lacklustre demand for products from the global oil and mining industries.
When the Going Gets Tough
Engineering products constitute the biggest chunk of India's merchandise exports followed by gems and jewellery, and petroleum. Revenues from petroleum products fell to $1.83 billion in February 2016, down 28 per cent from $2.56 billion a year ago. Engineering and petroleum products together account for a quarter of India's total merchandise export earnings.
Bharat Forge was, however, lucky. It had the automotive sector to back its revenue stream. But there were several hundreds of small and medium scale engineering units across the country that are finding it extremely difficult to tide over the turbulent times. "Forging units that cater to the oil sector and companies that manufacture pipes for crude oil lines are the worst hit," says S.C. Ralhan, President, Federation of Indian Exporters Organisation (FIEO). Despite the fact that several of these units based out of engineering product hubs, such as Ludhiana and Coimbatore, are working on two shifts instead of the usual three, the sector is facing increasing idle capacities and job losses.
Indian merchandise exports have also been facing the brunt of global economic uncertainties for more than a year now, and export earnings have been falling steadily for the past 15 months in a row. The commerce ministry, which releases trade data on a monthly basis, indicates that November 2015 was the worst month for Indian exports in recent years at $20 billion, down almost 25 per cent compared to November 2014.
December was not great either. Among the petroleum and commodity sectors, oil meals fell 82.93 per cent and iron ore exports dropped 69.54 per cent year-on-year. Petroleum products, in general, fell 47.69 per cent. Exports of leather and leather products, yarn and fabrics, rice, oil seeds and cashew were also in the negative growth trajectory. The only solace was that, in terms of overall percentage of decline, December, with a 14.75 per cent fall, was better than November, which witnessed 24.43 per cent fall. The position, in terms of month-on-month percentage decline improved further at 13.6 per cent in January 2016, and 5.66 per cent in February.
Indian merchandise exports were at $310.3 billion in 2014/15, compared to $314.4 billion in 2013/14 and $300.4 billion in 2012/13. The cumulative value of exports for April-February 2015/16 was $238.42 billion, down 16.73 per cent compared to the $286.31 billion recorded in the corresponding period, last year. Experts say the year-on-year decline in merchandise exports will be sharpest in the current fiscal since the economic liberalisation two decades ago at $260 billion. This, despite an appreciation of 6-7 per cent in the US dollar.
Gloom, Not Doom
The severity of the gloom, however, is not across the board, says Nirmala Sitharaman, Minister of State (Independent Charge) for the Ministry of Commerce and Industry, and the Minister of State for Finance and Corporate Affairs. "There are sectors that are doing well, some are plateauing and others are doing badly," she says. The minister's optimism stems from the fact that the non-oil and non-commodity sectors are not faring as badly as the oil and commodity-linked exports. Also services, which is almost half the size of India's merchandise exports, have not seen a sharp fall. Of the top 30 commodities in the merchandise exports list, 14 showed positive month-on-month growth in February 2016, including drugs and pharmaceuticals that grew by 8.77 per cent, and gems and jewellery, which reversed the negative trend to grow 11.19 per cent.
Two, the ministry believes that non-commodity and non-oil sectors have marginally been impacted by the crisis. While jute-based product exports grew 35.4 per cent during April-November over the previous year, handicraft exports saw 16.9 per cent growth and pharma grew 10 per cent. Net services exports during April-December 2015 were estimated at $54.86 billion, down 3 per cent from the corresponding period of 2014.
Finally, the fall in exports, in rupee terms, has also not been as bad as it was in dollar terms. "The fall is more in terms of money realisation because of currency fluctuation and low commodity prices. It is not as if your products are not wanted, or your competence level has come down. This gloom is not across the board," says Sitharaman. However, despite downplaying the crisis, the government is taking a string of export-friendly measures.
Assistance Helps...
On January 8, Sitharaman invited representatives and trade ministers of all state governments to seek their assistance in the Centre's export-promotion efforts and become members of the Council for Trade Development and Promotion. "After all, all the action is happening in the states. Whether it is land, electricity or local tax structure, most concerns raised by the exporters are related to states and state government policies," says Rita Teaotia, the Commerce Secretary.
The ministry had also called all 34 export promotion councils representing various sectors to suggest ways to improve the situation. Council representatives lobbied for the withdrawal of minimum alternate tax and dividend distribution tax on export-oriented units (EOUs) and special economic zones (SEZs), and argued that these levies were eroding the competitiveness of such zones.
The government had also announced two major initiatives to support exports some time ago. One, it had suggested a 3 per cent interest equalisation (subvention) scheme on pre- and post-shipment rupee export credit to help exporters reduce their interest burden. Two, it had announced an expansion of the scope of Merchandise Exports from India Scheme (MEIS) by bringing in more products and geographies within its ambit. And three, the Centre was trying to speed up bilateral and multilateral agreements by providing a zero-tariff, low-barrier entry for Indian products into partner-country markets.
"We have introduced the interest subvention scheme and revised MEIS in October. It will take some time to see its impact. At the same time, we are also negotiating the RCEP (Regional Comprehensive Economic Partnership) between the 10 ASEAN members and their FTA partners. We are also resuming talks with the EU and are trying to have agreements with Australia and Canada," adds Sitharaman.
...But Also Hurts?
Incidentally, some of the measures intended to promote one sector, are hurting others. For instance, any move to make import of natural rubber costly to protect the interest of rubber growers will directly affect the competitiveness of the Rs 34,000 crore non-tyre rubber industry, which is primarily small and medium scale.
Similarly, the government's recent decision to make steel imports costlier to protect the interests of domestic steel manufacturers is hurting the engineering equipment exporters. "The biggest problem being faced by the engineering industry is the rising cost of raw material, that is, steel. The government is discouraging imports of cheap steel through safeguard duties, minimum import prices, etc.," says Bhaskar Sarkar, Executive Director, Engineering Export Promotion Council (EEPC). According to Sarkar, buying steel at a higher price and selling to the world where overall cost of steel has come down has become a challenge. "If input costs go up, we will just be pushed out of the market," he says.
The Indian pharmaceutical industry, one of the few sectors that has continued to witness growth in the midst of the overall gloom, and the milk and dairy sector have their own concerns when it comes to the free trade agreement proposals the ministry has been negotiating with partner countries to promote exports.
D.G. Shah, Secretary General of Indian Pharmaceutical Alliance, says even the multilateral agreements that India is not part of can harm the interests of the generic drug industry. Referring to the US-led, 12-country Trans-Pacific Partnership, Shah says though India is not a signatory to the treaty, the arrangement would deal a big blow to Indian pharma exports. "An industry that has flourished by export-led growth will have to slow down its investments in manufacturing because it may no longer be able to supply new generics to many countries, " he says.
Even though most measures are industry-friendly, problems persist at the implementation level, too. FIEO's Ralhan, while applauding the efforts, says: "The problem of transfer of shipping bill, verification of MEIS and the delay in release of duty drawback and interest subsidy, have seriously affected the liquidity of exporters." He goes on to add that the government should ensure the benefits announced through policy measures reach the exporters.
Deficit Concerns Remain
All said and done, there is no quick solution to India's export woes as the country can do little to generate external demand. The commerce ministry says that the trend of falling exports is not India-specific. World Trade Organization (WTO) statistics indicate that growth in exports have also fallen for the US (10.51 per cent), European Union (9.48 per cent) and China (7.01 per cent) in November 2015.
However, the overall gloom that impacted both exports and imports proved to be a boon as far as trade deficit was concerned. If we consider merchandise and services, the overall trade deficit of India for April-February 2015/16 was $54.09 billion - 15.79 per cent lower than the $64.24 billion in the corresponding period of last year.
Bhaskar Sarkar, Executive Director, Engineering Export Promotion Council (Photo: Shekhar Ghosh)
A slowdown in traditional channels can also be leveraged to one's own advantage - to become more competitive, to grow up the value chain and explore newer pastures. Sitharaman cites the examples of the Indian automotive component manufacturers and textiles manufacturers, including readymade garments makers, who have set global standards and an export market by virtue of their core competencies. Now, it is time the others follow such examples.
And, even if there is a slowdown in international markets, domestic demand should make up for that. The export slowdown, at least in revenue terms, is unlikely to get over soon as most factors that have led to the current problems, all external, continue.
Therefore, Make in India for the domestic market is certainly an option.
Cut to the current financial year. While BFL's industrial business fell by 36 per cent in the first nine months of 2015/16 over the corresponding period of 2014/15, its passenger vehicle segment sector grew 112 per cent due to a ramp up in new orders during the same period, limiting the erosion in its overall revenues. Amit B. Kalyani, Executive Director, BFL, says the industrial business, which accounts for almost 35 per cent to its revenues, will remain soft in the near-term. "Weakness continues unabated, largely driven by the (fall in) commodity prices," he adds.
BFL had shipped 7 per cent less tonnage between September and December 2015 compared to the preceding three months. Its standalone earnings for the third quarter were Rs 1,052 crore, lower than the Rs 1,197crore during the preceding quarter. In fact, the crash in commodity prices, fall in demand in metals and commodities from key countries, including China, a glut in oil supply and the resultant record low oil prices have taken a toll on the entire oil, metal and mineral ecosystem. "The whole commodity cycle has finally taken a hit," says Kalyani.
Similarly, India's export earnings from engineering products, too, fell to $4.57 billion in February - down 11.2 per cent from the $5.15 billion registered in February 2015. For BFL, the earnings decline was primarily led by lacklustre demand for products from the global oil and mining industries.
When the Going Gets Tough
When the Going Gets Tough
Engineering products constitute the biggest chunk of India's merchandise exports followed by gems and jewellery, and petroleum. Revenues from petroleum products fell to $1.83 billion in February 2016, down 28 per cent from $2.56 billion a year ago. Engineering and petroleum products together account for a quarter of India's total merchandise export earnings.
Bharat Forge was, however, lucky. It had the automotive sector to back its revenue stream. But there were several hundreds of small and medium scale engineering units across the country that are finding it extremely difficult to tide over the turbulent times. "Forging units that cater to the oil sector and companies that manufacture pipes for crude oil lines are the worst hit," says S.C. Ralhan, President, Federation of Indian Exporters Organisation (FIEO). Despite the fact that several of these units based out of engineering product hubs, such as Ludhiana and Coimbatore, are working on two shifts instead of the usual three, the sector is facing increasing idle capacities and job losses.
Indian merchandise exports have also been facing the brunt of global economic uncertainties for more than a year now, and export earnings have been falling steadily for the past 15 months in a row. The commerce ministry, which releases trade data on a monthly basis, indicates that November 2015 was the worst month for Indian exports in recent years at $20 billion, down almost 25 per cent compared to November 2014.
December was not great either. Among the petroleum and commodity sectors, oil meals fell 82.93 per cent and iron ore exports dropped 69.54 per cent year-on-year. Petroleum products, in general, fell 47.69 per cent. Exports of leather and leather products, yarn and fabrics, rice, oil seeds and cashew were also in the negative growth trajectory. The only solace was that, in terms of overall percentage of decline, December, with a 14.75 per cent fall, was better than November, which witnessed 24.43 per cent fall. The position, in terms of month-on-month percentage decline improved further at 13.6 per cent in January 2016, and 5.66 per cent in February.
Indian merchandise exports were at $310.3 billion in 2014/15, compared to $314.4 billion in 2013/14 and $300.4 billion in 2012/13. The cumulative value of exports for April-February 2015/16 was $238.42 billion, down 16.73 per cent compared to the $286.31 billion recorded in the corresponding period, last year. Experts say the year-on-year decline in merchandise exports will be sharpest in the current fiscal since the economic liberalisation two decades ago at $260 billion. This, despite an appreciation of 6-7 per cent in the US dollar.
Gloom, Not Doom
The severity of the gloom, however, is not across the board, says Nirmala Sitharaman, Minister of State (Independent Charge) for the Ministry of Commerce and Industry, and the Minister of State for Finance and Corporate Affairs. "There are sectors that are doing well, some are plateauing and others are doing badly," she says. The minister's optimism stems from the fact that the non-oil and non-commodity sectors are not faring as badly as the oil and commodity-linked exports. Also services, which is almost half the size of India's merchandise exports, have not seen a sharp fall. Of the top 30 commodities in the merchandise exports list, 14 showed positive month-on-month growth in February 2016, including drugs and pharmaceuticals that grew by 8.77 per cent, and gems and jewellery, which reversed the negative trend to grow 11.19 per cent.
Two, the ministry believes that non-commodity and non-oil sectors have marginally been impacted by the crisis. While jute-based product exports grew 35.4 per cent during April-November over the previous year, handicraft exports saw 16.9 per cent growth and pharma grew 10 per cent. Net services exports during April-December 2015 were estimated at $54.86 billion, down 3 per cent from the corresponding period of 2014.
Finally, the fall in exports, in rupee terms, has also not been as bad as it was in dollar terms. "The fall is more in terms of money realisation because of currency fluctuation and low commodity prices. It is not as if your products are not wanted, or your competence level has come down. This gloom is not across the board," says Sitharaman. However, despite downplaying the crisis, the government is taking a string of export-friendly measures.
Assistance Helps...
On January 8, Sitharaman invited representatives and trade ministers of all state governments to seek their assistance in the Centre's export-promotion efforts and become members of the Council for Trade Development and Promotion. "After all, all the action is happening in the states. Whether it is land, electricity or local tax structure, most concerns raised by the exporters are related to states and state government policies," says Rita Teaotia, the Commerce Secretary.
The ministry had also called all 34 export promotion councils representing various sectors to suggest ways to improve the situation. Council representatives lobbied for the withdrawal of minimum alternate tax and dividend distribution tax on export-oriented units (EOUs) and special economic zones (SEZs), and argued that these levies were eroding the competitiveness of such zones.
The government had also announced two major initiatives to support exports some time ago. One, it had suggested a 3 per cent interest equalisation (subvention) scheme on pre- and post-shipment rupee export credit to help exporters reduce their interest burden. Two, it had announced an expansion of the scope of Merchandise Exports from India Scheme (MEIS) by bringing in more products and geographies within its ambit. And three, the Centre was trying to speed up bilateral and multilateral agreements by providing a zero-tariff, low-barrier entry for Indian products into partner-country markets.
"We have introduced the interest subvention scheme and revised MEIS in October. It will take some time to see its impact. At the same time, we are also negotiating the RCEP (Regional Comprehensive Economic Partnership) between the 10 ASEAN members and their FTA partners. We are also resuming talks with the EU and are trying to have agreements with Australia and Canada," adds Sitharaman.
...But Also Hurts?
Incidentally, some of the measures intended to promote one sector, are hurting others. For instance, any move to make import of natural rubber costly to protect the interest of rubber growers will directly affect the competitiveness of the Rs 34,000 crore non-tyre rubber industry, which is primarily small and medium scale.
Similarly, the government's recent decision to make steel imports costlier to protect the interests of domestic steel manufacturers is hurting the engineering equipment exporters. "The biggest problem being faced by the engineering industry is the rising cost of raw material, that is, steel. The government is discouraging imports of cheap steel through safeguard duties, minimum import prices, etc.," says Bhaskar Sarkar, Executive Director, Engineering Export Promotion Council (EEPC). According to Sarkar, buying steel at a higher price and selling to the world where overall cost of steel has come down has become a challenge. "If input costs go up, we will just be pushed out of the market," he says.
The Indian pharmaceutical industry, one of the few sectors that has continued to witness growth in the midst of the overall gloom, and the milk and dairy sector have their own concerns when it comes to the free trade agreement proposals the ministry has been negotiating with partner countries to promote exports.
D.G. Shah, Secretary General of Indian Pharmaceutical Alliance, says even the multilateral agreements that India is not part of can harm the interests of the generic drug industry. Referring to the US-led, 12-country Trans-Pacific Partnership, Shah says though India is not a signatory to the treaty, the arrangement would deal a big blow to Indian pharma exports. "An industry that has flourished by export-led growth will have to slow down its investments in manufacturing because it may no longer be able to supply new generics to many countries, " he says.
Even though most measures are industry-friendly, problems persist at the implementation level, too. FIEO's Ralhan, while applauding the efforts, says: "The problem of transfer of shipping bill, verification of MEIS and the delay in release of duty drawback and interest subsidy, have seriously affected the liquidity of exporters." He goes on to add that the government should ensure the benefits announced through policy measures reach the exporters.
Deficit Concerns Remain
All said and done, there is no quick solution to India's export woes as the country can do little to generate external demand. The commerce ministry says that the trend of falling exports is not India-specific. World Trade Organization (WTO) statistics indicate that growth in exports have also fallen for the US (10.51 per cent), European Union (9.48 per cent) and China (7.01 per cent) in November 2015.
However, the overall gloom that impacted both exports and imports proved to be a boon as far as trade deficit was concerned. If we consider merchandise and services, the overall trade deficit of India for April-February 2015/16 was $54.09 billion - 15.79 per cent lower than the $64.24 billion in the corresponding period of last year.
Bhaskar Sarkar, Executive Director, Engineering Export Promotion Council (Photo: Shekhar Ghosh)
A slowdown in traditional channels can also be leveraged to one's own advantage - to become more competitive, to grow up the value chain and explore newer pastures. Sitharaman cites the examples of the Indian automotive component manufacturers and textiles manufacturers, including readymade garments makers, who have set global standards and an export market by virtue of their core competencies. Now, it is time the others follow such examples.
And, even if there is a slowdown in international markets, domestic demand should make up for that. The export slowdown, at least in revenue terms, is unlikely to get over soon as most factors that have led to the current problems, all external, continue.
Therefore, Make in India for the domestic market is certainly an option.
General Awareness
63rd National Film Awards
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The 63rd National Film Awardswere started as an annual incentive by the Government of India to encourage meaningful films.
The Complete List of Major Winners:
- Best actress: KanganaRanaut for ‘Tanu Weds Manu Returns’KanganaRanaut was adjudged the Best Actress last year for VikasBahl’s Queen, which also emerged as the Best Film. Kangana had earlier won the Best Supporting Actress award for Fashion in 2008.
- Best actor: Amitabh Bachchan for ‘Piku’, this is fourth National Award for Amitabh Bachchan who had earlier won for Agneepath, Paa and Black
- Best Film: ‘Baahubali: The Beginning’
- Best Director: Sanjay LeelaBhansali for ‘BajiraoMastani’
- Best popular film providing wholesome entertainment: ‘BajrangiBhaijaan’
- Best Film Friendly State Award: Gujarat (special mention to UP and Kerala)
Most Film-Friendly State
- Gujarat was named the Most Film-Friendly State at the 63rd National Film Awards, a major step by the Indian government to promote film tourism in the states because this sort of an award will enthuse the states.
- This is the first time that the Ministry of Information and Broadcasting has bestowed this award in order to promote film tourism in states.
The awards bestowed including Best films from various languages across India.
The Complete List of Major Winners:
Best Bodo film DauHuduniMethai Best Punjabi film ChauthiKoot Best Odiya film Pahada Ra Luha Best Marathi film Ringan Best Malyalam film Pathemari Best Konkani film Enemy Best Kannada film Thithi Best Hindi film DumlagaKHaisha Best Bengali film Shankhachil Best Assamese film Kothanodi Best Khasi film Onaatah Best Haryanvi film Satrangi Best Wancho film The Head Hunter Best Manipuri film EibusuYaohanbiyu Best Mizo film Kima’s lode Beyond the Class Best Maithili film MithilaMakhaan Best Sanskrit film Priyamanasam Best Telugu film Kanche Best Tamil film Visaaranai Best Choreography Remo S’Souza (DeewaniMastani in BajiraoMastani) Best Background score Ilaiyaaraja (ThaaraiThappattai) Best Music direction M Jayachandran (KaathirunnuKaathirunnu in EnnuNinteMoideen) Best Costume Designer and Make-up Artist Nanak Shah Fakir Best Editing Late Kishore TE (Visaaranai) Best Dialogues JuhiChaturvedi (Piku) and Himanshu Sharma (Tanu Weds Manu Returns) Best Screenplay Writer (Original) JuhiChaturvedi (Piku) and Himanshu Sharma (Tanu Weds Manu Returns) Best Cinematography SudeepChaterjee (BajiraoMastani) Best Female Playback Singer Monali Thakur (MohMohKeDhage) Best Supporting Actress TanviAzmi (BajiraoMastani) Best Supporting Actor Samuthirakani (Visaaranai) Special Mention RinkuRajguru (Sairat) Special Mention Jayasurya (Su SuSudiVathmeekam&LukkaChuppi) Special Mention Ritika Singh (IrudhiSuttru) Best Children’s Film Duronto Best Film on Environment Conservation/Preservation ValiyaChiraKullaPakshikal Best Film on Social Issues Nirnayakam NargisDutt Award for Best Feature Film on National Integration Nanak Shah Fakir Indira Gandhi Award for Best Debut Film of a Director NeerajGhaywan (Masaan)
The 63rd National Film Awardswere started as an annual incentive by the Government of India to encourage meaningful films.The Complete List of Major Winners:- Best actress: KanganaRanaut for ‘Tanu Weds Manu Returns’KanganaRanaut was adjudged the Best Actress last year for VikasBahl’s Queen, which also emerged as the Best Film. Kangana had earlier won the Best Supporting Actress award for Fashion in 2008.
- Best actor: Amitabh Bachchan for ‘Piku’, this is fourth National Award for Amitabh Bachchan who had earlier won for Agneepath, Paa and Black
- Best Film: ‘Baahubali: The Beginning’
- Best Director: Sanjay LeelaBhansali for ‘BajiraoMastani’
- Best popular film providing wholesome entertainment: ‘BajrangiBhaijaan’
- Best Film Friendly State Award: Gujarat (special mention to UP and Kerala)
Most Film-Friendly State- Gujarat was named the Most Film-Friendly State at the 63rd National Film Awards, a major step by the Indian government to promote film tourism in the states because this sort of an award will enthuse the states.
- This is the first time that the Ministry of Information and Broadcasting has bestowed this award in order to promote film tourism in states.
The awards bestowed including Best films from various languages across India.The Complete List of Major Winners:Best Bodo film DauHuduniMethai Best Punjabi film ChauthiKoot Best Odiya film Pahada Ra Luha Best Marathi film Ringan Best Malyalam film Pathemari Best Konkani film Enemy Best Kannada film Thithi Best Hindi film DumlagaKHaisha Best Bengali film Shankhachil Best Assamese film Kothanodi Best Khasi film Onaatah Best Haryanvi film Satrangi Best Wancho film The Head Hunter Best Manipuri film EibusuYaohanbiyu Best Mizo film Kima’s lode Beyond the Class Best Maithili film MithilaMakhaan Best Sanskrit film Priyamanasam Best Telugu film Kanche Best Tamil film Visaaranai Best Choreography Remo S’Souza (DeewaniMastani in BajiraoMastani) Best Background score Ilaiyaaraja (ThaaraiThappattai) Best Music direction M Jayachandran (KaathirunnuKaathirunnu in EnnuNinteMoideen) Best Costume Designer and Make-up Artist Nanak Shah Fakir Best Editing Late Kishore TE (Visaaranai) Best Dialogues JuhiChaturvedi (Piku) and Himanshu Sharma (Tanu Weds Manu Returns) Best Screenplay Writer (Original) JuhiChaturvedi (Piku) and Himanshu Sharma (Tanu Weds Manu Returns) Best Cinematography SudeepChaterjee (BajiraoMastani) Best Female Playback Singer Monali Thakur (MohMohKeDhage) Best Supporting Actress TanviAzmi (BajiraoMastani) Best Supporting Actor Samuthirakani (Visaaranai) Special Mention RinkuRajguru (Sairat) Special Mention Jayasurya (Su SuSudiVathmeekam&LukkaChuppi) Special Mention Ritika Singh (IrudhiSuttru) Best Children’s Film Duronto Best Film on Environment Conservation/Preservation ValiyaChiraKullaPakshikal Best Film on Social Issues Nirnayakam NargisDutt Award for Best Feature Film on National Integration Nanak Shah Fakir Indira Gandhi Award for Best Debut Film of a Director NeerajGhaywan (Masaan)
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