General Affairs
India, Germany Join Hands To Clean River Ganga
-
NEW DELHI: India today joined hands with Germany to attain "pristine" status of Ganga by adopting river basin management strategies used for cleansing rivers like Rhine and Danube of pollutants.
Ministry of Water Resources and German International Cooperation (GIZ), owned by the German government, signed an agreement in this regard today.
The agreement was signed in the presence of Water Resources, River Development and Ganga Rejuvenation secretary Shashi Shekhar and German Ambassador to India Dr Martin Ney.
The objective of the agreement is to enable responsible stakeholders at national and state levels to apply integrated river basin management approach for Ganga's rejuvenation, the Ministry said in a statement.
"Initial actions will focus on Uttarakhand, with scope of expansion to other upstream Ganga States. The ultimate goal is to adopt successful river basin management strategies used for Rhine and Danube and replicate the same, wherever possible for attaining pristine status of river Ganga," it said.
The agreement will be based on "Indo-German Knowledge Exchange" and practical experience on strategic river basin management issues, effective data management system and public engagement, it said.
The project will closely cooperate with other national and international initiatives including Indo-German bilateral projects like 'Support to National Urban Sanitation Policy (SNUSP)' and 'Sustainable Environment-friendly Industrial Production' (SEIP).
The duration of the project is three years, from 2016 to 2018, and German contribution it will be to the tune of Rs 22.5 crore, it said.
Speaking on the occasion, Dr Ney said his country understands the "devotion and cultural importance" of Ganga and will do its best to bring back "Mother Ganga to its pristine glory".
Thanking the German Government, Mr Shekhar said the European country's technical know-how will be "immensely fruitful" in pollution abatement of Ganga.
"Now onwards, we will move at a much faster pace for cleaning of river Ganga," Mr Shekhar was quoted as saying. 'Namami Gange' is the Union government's flagship programme that aims at reducing pollution and conserving the river. The government has solicited support from various countries to rejuvenate Ganga.
Government of Germany, with its experiences in cleaning and rejuvenating European rivers such as Rhine, Elbe and Danube rivers, was keen to join hands for collaboration with Government of India, the statement said.
NEW DELHI: India today joined hands with Germany to attain "pristine" status of Ganga by adopting river basin management strategies used for cleansing rivers like Rhine and Danube of pollutants.Ministry of Water Resources and German International Cooperation (GIZ), owned by the German government, signed an agreement in this regard today.
The objective of the agreement is to enable responsible stakeholders at national and state levels to apply integrated river basin management approach for Ganga's rejuvenation, the Ministry said in a statement.
"Initial actions will focus on Uttarakhand, with scope of expansion to other upstream Ganga States. The ultimate goal is to adopt successful river basin management strategies used for Rhine and Danube and replicate the same, wherever possible for attaining pristine status of river Ganga," it said.
The agreement will be based on "Indo-German Knowledge Exchange" and practical experience on strategic river basin management issues, effective data management system and public engagement, it said.
The project will closely cooperate with other national and international initiatives including Indo-German bilateral projects like 'Support to National Urban Sanitation Policy (SNUSP)' and 'Sustainable Environment-friendly Industrial Production' (SEIP).
The duration of the project is three years, from 2016 to 2018, and German contribution it will be to the tune of Rs 22.5 crore, it said.
Speaking on the occasion, Dr Ney said his country understands the "devotion and cultural importance" of Ganga and will do its best to bring back "Mother Ganga to its pristine glory".
Thanking the German Government, Mr Shekhar said the European country's technical know-how will be "immensely fruitful" in pollution abatement of Ganga.
"Now onwards, we will move at a much faster pace for cleaning of river Ganga," Mr Shekhar was quoted as saying. 'Namami Gange' is the Union government's flagship programme that aims at reducing pollution and conserving the river. The government has solicited support from various countries to rejuvenate Ganga.
Government of Germany, with its experiences in cleaning and rejuvenating European rivers such as Rhine, Elbe and Danube rivers, was keen to join hands for collaboration with Government of India, the statement said.
Pak Must Act Against Those Guilty Of Attacks On India: Nicolas Sarkozy
-
NEW DELHI: Asserting that France wants Pakistan to act against those who carry out attacks against India and "bring them to book", former French President Nicolas Sarkozy today said India's neighbour needs to do more in the war against terror.
Mr Sarkozy, who is currently on a visit to India, is slated to meet Prime Minister Narendra Modi.
Underscoring that "France is by India's side", he said the country wants that "India's neighbours especially Pakistan must take action so that those who carried out the attacks are brought to the book".
"Pakistan needs to cooperate and those guilty (of terror attacks on India) should be arrested," he said at a conference organised by the FICCI.
Asked about his message to Pakistan, Mr Sarkozy later told reporters: "Pakistan is a really important and big country. Everyone recognizes its importance but it needs to be more involved inwar against terrorism".
Calling terrorism a "cancer" that has spread widely, the former French President said, "We need to fight against barbarians who want to target European and Indian population".
Noting that "India suffers from terror attacks and we know where they are coming from," Sarkozy said that closing one's eyes amounts to "complicity" in the act.
Emphasising upon deeper cooperation between nations in the fight against terror, the 61-year-old chief of the Republicans party said that without cooperation, terrorists will find safe havens.
Mr Sarkozy, who was the French President from May 2007 to May 2012, came to India twice on official visit. He was the chief guest at the Republic Day parade in 2008.
NEW DELHI: Asserting that France wants Pakistan to act against those who carry out attacks against India and "bring them to book", former French President Nicolas Sarkozy today said India's neighbour needs to do more in the war against terror.Mr Sarkozy, who is currently on a visit to India, is slated to meet Prime Minister Narendra Modi.
"Pakistan needs to cooperate and those guilty (of terror attacks on India) should be arrested," he said at a conference organised by the FICCI.
Asked about his message to Pakistan, Mr Sarkozy later told reporters: "Pakistan is a really important and big country. Everyone recognizes its importance but it needs to be more involved inwar against terrorism".
Calling terrorism a "cancer" that has spread widely, the former French President said, "We need to fight against barbarians who want to target European and Indian population".
Noting that "India suffers from terror attacks and we know where they are coming from," Sarkozy said that closing one's eyes amounts to "complicity" in the act.
Emphasising upon deeper cooperation between nations in the fight against terror, the 61-year-old chief of the Republicans party said that without cooperation, terrorists will find safe havens.
Mr Sarkozy, who was the French President from May 2007 to May 2012, came to India twice on official visit. He was the chief guest at the Republic Day parade in 2008.
Judicial Custody Of Chhagan Bhujbal, Nephew Extended Till April 27
-
MUMBAI: A special court today extended till April 27 the judicial custody of NCP leader and former Maharashtra Deputy Chief Minister Chhagan Bhujbal and his nephew and former lawmaker Samir Bhujbal in connection with a money laundering case.
The duo appeared before the special judge PR Bhavke via a video link from the Arthur Road jail.
Enforcement Directorate Lawyer Hiten Venegaonkar told the court dealing with Prevention of Money Laundering Act (PMLA) cases that investigations were on and the custody of the duo was further needed. Chhagan Bhujbal was arrested on March 14.
The Enforcement Directorate had told the court earlier it had attached properties of Mr Bhujbals worth Rs 131.86 crore, while remaining properties worth Rs 708.30 crore were yet to be identified and attached.
The Enforcement Directorate had filed on March 30 an 11,500-page charge sheet, which names Chhagan Bhujbal, his son Pankaj, nephew Samir, corporates like DB Realty, Balwa group of companies, Neelkamal Realtors and Builders Private Limited, Neelkamal Central Apartment LLP and Kakade Infrastructure.
The agency has filed two FIRs against Chhagan Bhujbal, his family members and others under the anti-money laundering laws, based on FIRs filed by the state Anti-Corruption Bureau, to probe alleged irregularities in the construction of the state guesthouse 'Maharashtra Sadan' in Delhi and the Kalina land grabbing case in Mumbai.
The high court, in December 2014, had constituted a special investigation team (SIT) comprising the ED and state Anti-Corruption Branch officials to conduct the inquiry against Mr Bhujbal and others.
The ACB complaint names Pankaj and Samir for offences such as cheating, conspiracy, criminal breach of trust under the Indian Penal Code, and under the Maharashtra Ownership Flats Act.
MUMBAI: A special court today extended till April 27 the judicial custody of NCP leader and former Maharashtra Deputy Chief Minister Chhagan Bhujbal and his nephew and former lawmaker Samir Bhujbal in connection with a money laundering case.The duo appeared before the special judge PR Bhavke via a video link from the Arthur Road jail.
The Enforcement Directorate had told the court earlier it had attached properties of Mr Bhujbals worth Rs 131.86 crore, while remaining properties worth Rs 708.30 crore were yet to be identified and attached.
The Enforcement Directorate had filed on March 30 an 11,500-page charge sheet, which names Chhagan Bhujbal, his son Pankaj, nephew Samir, corporates like DB Realty, Balwa group of companies, Neelkamal Realtors and Builders Private Limited, Neelkamal Central Apartment LLP and Kakade Infrastructure.
The agency has filed two FIRs against Chhagan Bhujbal, his family members and others under the anti-money laundering laws, based on FIRs filed by the state Anti-Corruption Bureau, to probe alleged irregularities in the construction of the state guesthouse 'Maharashtra Sadan' in Delhi and the Kalina land grabbing case in Mumbai.
The high court, in December 2014, had constituted a special investigation team (SIT) comprising the ED and state Anti-Corruption Branch officials to conduct the inquiry against Mr Bhujbal and others.
The ACB complaint names Pankaj and Samir for offences such as cheating, conspiracy, criminal breach of trust under the Indian Penal Code, and under the Maharashtra Ownership Flats Act.
IIT Fee Hike Not Applicable To Existing Students, Says Education Ministry
-
KOLKATA: Amid protests by students of IIT-Kharagpur, the education ministry today clarified that students who are already enrolled in undergraduate courses have been spared from the 122 per cent fee hike.
In a letter written to directors of all IITs, the Human Resource Development Ministry today said, "It is hereby clarified that the revised fee would be applicable for students taking admission starting from academic year 2016-17 onwards."
The students currently studying would continue to pay at the existing rates, it said.
The order came a day after IIT-Kharagpur students protested by shouting slogans at the campus against the fee hike.
IIT- Kharagpur director Partha Pratim Chakraborty wrote an open letter to students saying that the protests have left him "very unhappy".
"Unfortunately for me, in this instance, many undergraduate students did not have the basic courtesy to first engage with us before creating a disturbance and made some very unusual remarks on those receiving the waivers," he said, hoping that better sense would prevail in the future.
"In the social media, other than expressing their problems, many students made disparaging comments on those receiving waivers which was completely unwarranted," Mr Chakraborty said.
The government had recently decided to increase the annual fees for undergraduate courses from existing Rs 90,000 to Rs 2 lakh, a rise of 122 per cent, from the upcoming academic session.
KOLKATA: Amid protests by students of IIT-Kharagpur, the education ministry today clarified that students who are already enrolled in undergraduate courses have been spared from the 122 per cent fee hike.In a letter written to directors of all IITs, the Human Resource Development Ministry today said, "It is hereby clarified that the revised fee would be applicable for students taking admission starting from academic year 2016-17 onwards."
The order came a day after IIT-Kharagpur students protested by shouting slogans at the campus against the fee hike.
IIT- Kharagpur director Partha Pratim Chakraborty wrote an open letter to students saying that the protests have left him "very unhappy".
"Unfortunately for me, in this instance, many undergraduate students did not have the basic courtesy to first engage with us before creating a disturbance and made some very unusual remarks on those receiving the waivers," he said, hoping that better sense would prevail in the future.
"In the social media, other than expressing their problems, many students made disparaging comments on those receiving waivers which was completely unwarranted," Mr Chakraborty said.
The government had recently decided to increase the annual fees for undergraduate courses from existing Rs 90,000 to Rs 2 lakh, a rise of 122 per cent, from the upcoming academic session.
NIT Students Meet Rajnath Singh, Demand Shifting Campus Outside Srinagar
-
NEW DELHI: A group of NIT, Srinagar students today met Union Home Minister Rajnath Singh and discussed about the ongoing stir on the campus following clashes between local and outstation students.
During the 20-minute meeting, the students placed various demands, including shifting of the National Institute of Technology (NIT) campus from Srinagar.
The Home Minister is understood to have assured the aggrieved students of security on the campus and suggested them to concentrate on their studies, official sources said.
Tension started brewing inside the NIT campus, located on the banks of Dal Lake in Jammu and Kashmir, on March 31 after India lost to West Indies in semi-final of the T-20 World Cup cricket tournament prompting some local students to rejoice and burst fire crackers.
The incident led to protests by outstation students, resulting in clashes between the two groups.
The situation has since been volatile there. Paramilitary forces have been deployed in the campus. The local police are manning the main gate of the institute.
Yesterday, Jammu and Kashmir Chief Minister Mehbooba Mufti had dismissed the possibility of shifting NIT out of the Valley.
"As far as demands of some students to shift the NIT campus out of Srinagar is considered, let me make it clear that it won't be possible," she had said.
The Ministry of Human Resource Development had sent a three-member team to the campus last week to take stock of the situation. The team will be in Srinagar till the ongoing exams conclude.
NEW DELHI: A group of NIT, Srinagar students today met Union Home Minister Rajnath Singh and discussed about the ongoing stir on the campus following clashes between local and outstation students.During the 20-minute meeting, the students placed various demands, including shifting of the National Institute of Technology (NIT) campus from Srinagar.
Tension started brewing inside the NIT campus, located on the banks of Dal Lake in Jammu and Kashmir, on March 31 after India lost to West Indies in semi-final of the T-20 World Cup cricket tournament prompting some local students to rejoice and burst fire crackers.
The incident led to protests by outstation students, resulting in clashes between the two groups.
The situation has since been volatile there. Paramilitary forces have been deployed in the campus. The local police are manning the main gate of the institute.
Yesterday, Jammu and Kashmir Chief Minister Mehbooba Mufti had dismissed the possibility of shifting NIT out of the Valley.
"As far as demands of some students to shift the NIT campus out of Srinagar is considered, let me make it clear that it won't be possible," she had said.
The Ministry of Human Resource Development had sent a three-member team to the campus last week to take stock of the situation. The team will be in Srinagar till the ongoing exams conclude.
Business Affairs
Jewellers call off 42-day strike after govt's assurance
-
Jewellers in the national capital on Wednesday temporarily called off their 42-day strike , demanding rollback of proposed excise duty on non-silver jewellery, for 12 days after the government's assurance that there will be no harassment by excise officials.
"We have decided to temporarily call off the strike till April 24 after the government's assurance," Surinder Kumar Jain, Vice-President of All India Sarafa Association said.
Jewellers in Maharashtra have also called off their strike temporarily from April 14 to April 24, Maharashtra Rajya Saraf Suvarnakar Federation President Fatechand Ranka said.
Jewellery houses remained closed since March 2 after Finance Minister Arun Jaitley in Budget proposed levying 1 per cent excise duty on non-silver jewellery.
Jewellers, bullion traders and artisans reopened their establishments on Tuesday in Rajasthan, said Subhash Mittal, President, Rajasthan Sarafa Sangh in Jaipur.
"If the government does not consider our demand of rolling back its decision of imposing 1 per cent excise duty, we will resume our strike from April 25," said Ram Avtar Verma, President of Bullion and Jewellery Association.
Meanwhile, jewellers in Meerut also reopened their shops on Wednesday.
The gems and jewellery industry is estimated to have incurred over Rs 1 lakh crore loss due to the 42-day strike.
Over three lakh jewellers from more than 300 associations kept their establishments closed across the country since March 2.
Jewellers are also against the mandatory quoting of PAN by customers for transactions of Rs 2 lakh and above.
The Centre has already constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of the jewellers.
The panel, which has been asked to submit its report in 60 days, will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and other relevant issues.
Jewellers in the national capital on Wednesday temporarily called off their 42-day strike , demanding rollback of proposed excise duty on non-silver jewellery, for 12 days after the government's assurance that there will be no harassment by excise officials.
"We have decided to temporarily call off the strike till April 24 after the government's assurance," Surinder Kumar Jain, Vice-President of All India Sarafa Association said.
Jewellers in Maharashtra have also called off their strike temporarily from April 14 to April 24, Maharashtra Rajya Saraf Suvarnakar Federation President Fatechand Ranka said.
Jewellery houses remained closed since March 2 after Finance Minister Arun Jaitley in Budget proposed levying 1 per cent excise duty on non-silver jewellery.
Jewellers, bullion traders and artisans reopened their establishments on Tuesday in Rajasthan, said Subhash Mittal, President, Rajasthan Sarafa Sangh in Jaipur.
"If the government does not consider our demand of rolling back its decision of imposing 1 per cent excise duty, we will resume our strike from April 25," said Ram Avtar Verma, President of Bullion and Jewellery Association.
Meanwhile, jewellers in Meerut also reopened their shops on Wednesday.
The gems and jewellery industry is estimated to have incurred over Rs 1 lakh crore loss due to the 42-day strike.
Over three lakh jewellers from more than 300 associations kept their establishments closed across the country since March 2.
Jewellers are also against the mandatory quoting of PAN by customers for transactions of Rs 2 lakh and above.
The Centre has already constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of the jewellers.
The panel, which has been asked to submit its report in 60 days, will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and other relevant issues.
Sensex gains 481 points, Nifty ends at 7,850 on bumper monsoon cheer, M&M top gainer
-
Extending gains for the third consecutive session, the S&P BSE Sensex jumped 481 points to end above its crucial psychological level of 25,000, while broader CNX Niftyreclaimed its key 7,850-mark.
The headline indices came close to their highs for the year as data showing easing inflation and a government forecast for an above-average monsoon rains sparked hopes for the economy and for more rate cuts by the Reserve Bank of India.
The 30-share index ended the day at 25,626, up 481.16 points, while broad-based 50-share index quoted 7,850, up 141.50 points at close.
Market breadth turned fairly positive with 28 of the 30 Sensex components ending the day in green.
Mahindra & Mahindra was the best performer on both the benchmark indices and gained over 7 per cent.
Meanwhile, gains were also supported as surprisingly upbeat Chinese trade data offered hopes the Asian giant was finally stabilising, sending the MSCI's broadest index of Asia-Pacific shares outside Japan up 1.5 percent.
"Expectations are now building up with respect to future growth, which is somewhat positive compared to what it was two years ago," said Dhananjay Sinha, head of research at Emkay Global Financial Services.
Domestic stock markets will remain closed on Thursday and Friday for public holidays.
Banks were among the leading gainers after data released late on Tuesday showed retail inflation eased in March to a six-month low while industrial output beat market expectations and grew at an annual rate of 2.0 per cent in February.
Sentiment was also boosted after the weather office said on Tuesday monsoon rains were expected to be above average in 2016 after two consecutive years of drought.
State Bank of India and ICICI Bank rose 2.16 per cent and 5.50 per cent, respectively.
Agriculture-related stocks jumped for a second straight session on the monsoon forecast. Jain Irrigation Systems rose 1.62 percent, while Insecticides (India) Ltd soared 4.54 per cent.
Hopes of revival in rural demand also boosted two-wheeler maker Hero MotoCorp and consumer goods firm Hindustan Unilever. Hero MotoCorp and Hindustan Unilever were up 3.33 per cent and 2.85 percent, respectively.
Meanwhile, Wipro rose 2.89 per cent after the software services exporter said it would consider a buyback of shares at a board meeting on April 20.
Extending gains for the third consecutive session, the S&P BSE Sensex jumped 481 points to end above its crucial psychological level of 25,000, while broader CNX Niftyreclaimed its key 7,850-mark.
The headline indices came close to their highs for the year as data showing easing inflation and a government forecast for an above-average monsoon rains sparked hopes for the economy and for more rate cuts by the Reserve Bank of India.
The 30-share index ended the day at 25,626, up 481.16 points, while broad-based 50-share index quoted 7,850, up 141.50 points at close.
Market breadth turned fairly positive with 28 of the 30 Sensex components ending the day in green.
Mahindra & Mahindra was the best performer on both the benchmark indices and gained over 7 per cent.
Meanwhile, gains were also supported as surprisingly upbeat Chinese trade data offered hopes the Asian giant was finally stabilising, sending the MSCI's broadest index of Asia-Pacific shares outside Japan up 1.5 percent.
"Expectations are now building up with respect to future growth, which is somewhat positive compared to what it was two years ago," said Dhananjay Sinha, head of research at Emkay Global Financial Services.
Domestic stock markets will remain closed on Thursday and Friday for public holidays.
Banks were among the leading gainers after data released late on Tuesday showed retail inflation eased in March to a six-month low while industrial output beat market expectations and grew at an annual rate of 2.0 per cent in February.
Sentiment was also boosted after the weather office said on Tuesday monsoon rains were expected to be above average in 2016 after two consecutive years of drought.
State Bank of India and ICICI Bank rose 2.16 per cent and 5.50 per cent, respectively.
Agriculture-related stocks jumped for a second straight session on the monsoon forecast. Jain Irrigation Systems rose 1.62 percent, while Insecticides (India) Ltd soared 4.54 per cent.
Hopes of revival in rural demand also boosted two-wheeler maker Hero MotoCorp and consumer goods firm Hindustan Unilever. Hero MotoCorp and Hindustan Unilever were up 3.33 per cent and 2.85 percent, respectively.
Meanwhile, Wipro rose 2.89 per cent after the software services exporter said it would consider a buyback of shares at a board meeting on April 20.
Demand for fuel hit 15-year high last fiscal
-
Fuel demand surged to its highest level in at least 15 years in the fiscal year ended March, driven by growing appetite for gasoline-guzzling vehicles and a boost in mining and manufacturing activity.
Fuel consumption, a proxy for oil demand, rose 10.9 per cent to 183.5 million tonnes between April 2015 and March 2016, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Consumption of gasoline or petrol rose 14.5 per cent to 21.8 million tonnes, its highest level in at least 15 years as passenger vehicle sales grew at their fastest pace in five years in the last fiscal.
Demand for gasoil, or diesel, grew at its fastest pace in four years, rising 7.5 per cent to 74.6 million tonnes.
Global carmakers are launching new compact sedans and hatchbacks in India at competitive prices and higher vehicle sales are expected to help push India ahead of China as the energy demand growth leader.
Separately, government's thrust on mining to curb costly imports, plan to double coal output by 2020 and a renewed manufacturing push under Prime Minister Narendra Modi's flagship 'Make In India' drive helped boost consumption of diesel, which makes up about 40 per cent of refined fuels used in India.
Scanty rainfall in Asia's third-largest economy also buoyed diesel demand, although IMD predicts above average rains in the four-month monsoon season that begins in June.
Parts of the country are currently facing scarcity of water which has raised the demand for diesel-fired gensets to run tube wells for agriculture.
India, currently the world's third-largest oil consumer, will have more than doubled its current oil use to 10 million barrels per day (bpd) by 2040, according to the International Energy Agency (IEA), about on par with China's consumption last year.
Demand for cooking gas rose 8.6 percent as the government wants to replace use of heavily subsidised kerosene with the cleaner fuel, while naphtha consumption was 20.9 percent higher in the last fiscal.
Fuel demand surged to its highest level in at least 15 years in the fiscal year ended March, driven by growing appetite for gasoline-guzzling vehicles and a boost in mining and manufacturing activity.
Fuel consumption, a proxy for oil demand, rose 10.9 per cent to 183.5 million tonnes between April 2015 and March 2016, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Consumption of gasoline or petrol rose 14.5 per cent to 21.8 million tonnes, its highest level in at least 15 years as passenger vehicle sales grew at their fastest pace in five years in the last fiscal.
Demand for gasoil, or diesel, grew at its fastest pace in four years, rising 7.5 per cent to 74.6 million tonnes.
Global carmakers are launching new compact sedans and hatchbacks in India at competitive prices and higher vehicle sales are expected to help push India ahead of China as the energy demand growth leader.
Separately, government's thrust on mining to curb costly imports, plan to double coal output by 2020 and a renewed manufacturing push under Prime Minister Narendra Modi's flagship 'Make In India' drive helped boost consumption of diesel, which makes up about 40 per cent of refined fuels used in India.
Scanty rainfall in Asia's third-largest economy also buoyed diesel demand, although IMD predicts above average rains in the four-month monsoon season that begins in June.
Parts of the country are currently facing scarcity of water which has raised the demand for diesel-fired gensets to run tube wells for agriculture.
India, currently the world's third-largest oil consumer, will have more than doubled its current oil use to 10 million barrels per day (bpd) by 2040, according to the International Energy Agency (IEA), about on par with China's consumption last year.
Demand for cooking gas rose 8.6 percent as the government wants to replace use of heavily subsidised kerosene with the cleaner fuel, while naphtha consumption was 20.9 percent higher in the last fiscal.
PM Narendra Modi to launch national e-mandi initiative
-
Prime Minister Narendra Modi will formally launch a National Agriculture Market (NAM) portal on Thursday, to enable 21 mandis across 8 states attempt e-trading on a pilot basis. The chosen mandis will be able to connect with other mandis within the same state, but not at a national level at the moment.
"This will be the first step towards the establishment of a National Agriculture Market," Radha Mohan Singh, Union Agriculture and Farmers Welfare Minister, said.
The 12 states that are part of the pilot programme are Gujarat, Telangana, Uttar Pradesh, Jharkhand, Madhya Pradesh, Rajasthan, Haryana and Himachal Pradesh. The government has listed 25 commodities, including wheat, maize, chana, jowar, bajra, potato and cotton to be traded with NAM.
While six mandis in Uttar Pradesh will get connected, the pilot project in Telengana will involve five mandis.
Addressing a press conference in New Delhi, Singh said the move will help farmers realise better prices for their produce. "Today, a farmer who approaches a licensee (trader) in a mandi doesn't know what the rate of his produce in another market is. The e-platform will provide him an opportunity to learn that, thereby eliminating the chances of being exploited", Singh said.
According to him, the idea of NAM has come from Karnataka, where a series of amendments to the State Agriculture Produce Marketing Committee (APMC) Act has resulted in farmers getting the freedom to sell their produce in the market of their choice. APMC, in its original form restricts the movement of agricultural produce and thereby limits the ability of the farmer to bargain for a better price.
"We took all state agriculture ministers on a visit to Karnataka to learn how the State has linked 40 - 50 markets through e-trading platform. Everywhere there is electronic display of the prices of produce in all other markets. Farmers can thus opt to sell at a place where he can fetch the best price", the minister said.
Since agri-market reforms are integral to NAM, reforms of State APMC Act in terms of a single license for trading to be valid across the state, single point of levy of market fee and provision for electronic auction as a mode for price discovery, has been made a pre-condition for integration with NAM. The minister said many states and Union Territories have expressed their willingness to join NAM. Twelve of them have presented detailed proposals for integration.
NAM scheme was approved on 1 July, 2015 with a budgetary allocation of Rs 200 crores. The objective is to link 585 regulated markets with the common e-platform by March 2018.
Prime Minister Narendra Modi will formally launch a National Agriculture Market (NAM) portal on Thursday, to enable 21 mandis across 8 states attempt e-trading on a pilot basis. The chosen mandis will be able to connect with other mandis within the same state, but not at a national level at the moment.
"This will be the first step towards the establishment of a National Agriculture Market," Radha Mohan Singh, Union Agriculture and Farmers Welfare Minister, said.
The 12 states that are part of the pilot programme are Gujarat, Telangana, Uttar Pradesh, Jharkhand, Madhya Pradesh, Rajasthan, Haryana and Himachal Pradesh. The government has listed 25 commodities, including wheat, maize, chana, jowar, bajra, potato and cotton to be traded with NAM.
While six mandis in Uttar Pradesh will get connected, the pilot project in Telengana will involve five mandis.
Addressing a press conference in New Delhi, Singh said the move will help farmers realise better prices for their produce. "Today, a farmer who approaches a licensee (trader) in a mandi doesn't know what the rate of his produce in another market is. The e-platform will provide him an opportunity to learn that, thereby eliminating the chances of being exploited", Singh said.
According to him, the idea of NAM has come from Karnataka, where a series of amendments to the State Agriculture Produce Marketing Committee (APMC) Act has resulted in farmers getting the freedom to sell their produce in the market of their choice. APMC, in its original form restricts the movement of agricultural produce and thereby limits the ability of the farmer to bargain for a better price.
"We took all state agriculture ministers on a visit to Karnataka to learn how the State has linked 40 - 50 markets through e-trading platform. Everywhere there is electronic display of the prices of produce in all other markets. Farmers can thus opt to sell at a place where he can fetch the best price", the minister said.
Since agri-market reforms are integral to NAM, reforms of State APMC Act in terms of a single license for trading to be valid across the state, single point of levy of market fee and provision for electronic auction as a mode for price discovery, has been made a pre-condition for integration with NAM. The minister said many states and Union Territories have expressed their willingness to join NAM. Twelve of them have presented detailed proposals for integration.
NAM scheme was approved on 1 July, 2015 with a budgetary allocation of Rs 200 crores. The objective is to link 585 regulated markets with the common e-platform by March 2018.
How 8% govt bonds have made a comeback after 5 yrs
-
The cut in small savings deposit rates has brought 8 per cent government of India bonds back in flavour.
In a move to align the short term savings interest rates with market rates, the government on March 18, 2016 cut interest rate on kisan vikas patra to 7.8 per cent from 8.7 per cent.
Also, returns from post office term deposits of one, two and three years which command an interest rate of 8.4 per cent have been revised. Now, a 1-year Time Deposit will get 7.1 per cent, 2-year Time Deposit will earn 7.2 per cent and 3-Year Time Deposit will attract interest of 7.4 per cent.
All the above changes which came into effect from April 1, 2016 have made 8 per cent government of India taxable savings bonds more attractive for investors.
According to an Economic Times report, these government bonds were out of flavour during the last five years but with recent cut in interest rates of small savings schemes, investors have started locking their money in these bonds.
There is no maximum limit for investment in these bonds which have a maturity period of six years.
The cut in small savings deposit rates has brought 8 per cent government of India bonds back in flavour.
In a move to align the short term savings interest rates with market rates, the government on March 18, 2016 cut interest rate on kisan vikas patra to 7.8 per cent from 8.7 per cent.
Also, returns from post office term deposits of one, two and three years which command an interest rate of 8.4 per cent have been revised. Now, a 1-year Time Deposit will get 7.1 per cent, 2-year Time Deposit will earn 7.2 per cent and 3-Year Time Deposit will attract interest of 7.4 per cent.
All the above changes which came into effect from April 1, 2016 have made 8 per cent government of India taxable savings bonds more attractive for investors.
According to an Economic Times report, these government bonds were out of flavour during the last five years but with recent cut in interest rates of small savings schemes, investors have started locking their money in these bonds.
There is no maximum limit for investment in these bonds which have a maturity period of six years.
General Awareness
India ranks 44 in 2016 Global Connectivity Index, Digital India seen as driver of growth
-
-
India placed at the 44th positionamong 50 different countries in a Global Connectivity Index (GCI) report has been compiled Electronics major by Huawei.
- The 50 countries assessed by GCI 2016 account for 90 percent of global GDP and 78 percent of the world’s population.
- Huawei claims that the GCI also includes survey results from3,000 firms across 10 verticals in 10 nations.
- The Huawei Global Connectivity Index 2016 notes initiatives like Digital India are driving growth and improved broadband penetration.
- The report says such initiative will enable last-mile connectivity, connecting many people for the first time, and enables a whole new opportunity for the telecom operators.
GCI calculation Method:
- GCI score for each country has been calculated on the basis of its ICT infrastructure includingbroadband, data centers, cloud services, big data and IoT.
- The methodology for calculating GCI broadly includesfour different ‘vertical indicators’ as identified by Huawei which includes
- Supply,
- Demand,
- Experience and
- Potential includes a set of indicators that points out the future development of a digital economy
The Top 5 countries with top rated and last 5 countries in the survey that sprawls globally 50 countries
Top 5 Conutries
Country Rank United States 1 Singapore 2 Sweden 3 Switzerland 4 United Kingdom 5
Last 5 Countries
Country Rank Algeria 45 Kenya 46 Ghana 47 Nigeria 48 Bangladesh 49 Pakistan 5
India placed at the 44th positionamong 50 different countries in a Global Connectivity Index (GCI) report has been compiled Electronics major by Huawei.- The 50 countries assessed by GCI 2016 account for 90 percent of global GDP and 78 percent of the world’s population.
- Huawei claims that the GCI also includes survey results from3,000 firms across 10 verticals in 10 nations.
- The Huawei Global Connectivity Index 2016 notes initiatives like Digital India are driving growth and improved broadband penetration.
- The report says such initiative will enable last-mile connectivity, connecting many people for the first time, and enables a whole new opportunity for the telecom operators.
GCI calculation Method:- GCI score for each country has been calculated on the basis of its ICT infrastructure includingbroadband, data centers, cloud services, big data and IoT.
- The methodology for calculating GCI broadly includesfour different ‘vertical indicators’ as identified by Huawei which includes
- Supply,
- Demand,
- Experience and
- Potential includes a set of indicators that points out the future development of a digital economy
The Top 5 countries with top rated and last 5 countries in the survey that sprawls globally 50 countriesTop 5 ConutriesCountry Rank United States 1 Singapore 2 Sweden 3 Switzerland 4 United Kingdom 5 Last 5 CountriesCountry Rank Algeria 45 Kenya 46 Ghana 47 Nigeria 48 Bangladesh 49 Pakistan 5
No comments:
Post a Comment