General Affairs
Indian Navy's Show Of Strength For China Has A Weak Link - Agusta
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Four ships of the Indian Navy's Eastern Command have set sail on Wednesday on a two and a half month deployment through areas that the Chinese Navy considers its own. The ships are headed for Vietnam, Malaysia, the Philippines, Japan, South Korea, Russia and eventually the United States as part of what the Navy calls "a demonstration of its operational reach and commitment to India's 'Act East' policy.
The Rear Admiral commanding the fleet knows that it enters China's backyard, the South China Sea, with a glaring operational shortfall. He has just a single anti-submarine helicopter between the four warships: a Westland Sea King, variant of a chopper that first entered service with the Indian Navy 45 years ago.
The other two helicopters on the decks of the warships are French-designed Chetak helicopters which began flying in India 55 years ago. The Chetaks are unarmed, have no ability to track enemy submarines and serve only a very basic utility role.
The sad state of the Indian Navy's helicopter fleet comes at a time when several state-of-the-art warships are being built at Indian shipyards, perhaps the biggest success of this government's Make-In-India campaign to reduce the import of military equipment. In fact, two of these warships, the guided missile frigates INS Satpura and INS Sahyadri are part of the fleet sailing to the South China Seas. Designed to carry four large anti-submarine helicopters between them, they are making do with the single and elderly Sea King.
The programme to replace hundreds of archaic Indian Navy helicopters, already painfully slow, has been further enervated by the AgustaWestland scam, which involved a corrupt deal for the Air Force to buy 12 VIP helicopters. Agusta and its parent company Finmecannica are now banned from getting government orders.
Last year, the Defence Ministry cleared an essential upgrade for 10 Russia-built Kamov helicopters, which first entered the Navy in the eighties. The deal was worth 2,100 crores.
But advanced surveillance and radar equipment that was to be added is made by a subsidiary of Finmecannica. The Selex systems meant to be installed included infrared sensors to detect targets in low visibility along with a multi-mode phased array radar to lock onto small targets at sea.
NDTV has learned that there is no clear indicator on whether the government will go ahead with modernizing the Russian helicopters for this reason, even though rules allow for Finmecannica systems if the firm is a subcontractor and not the main vendor- in this case, the supplier of the helicopters.
The elderly Sea King anti-submarine helicopters like the one sent with the fleet of warships this week were manufactured by Westland, part of the Finmeccanica chain of companies. Though less than ten of the old choppers are thought to remain fully operational, there is a concern that spares for the ones that are used may be affected as a fallout of the ongoing controversy.
Senior sources in the Indian Navy have told that while the Defence Ministry categorically allows the Navy to source spares for these choppers from Agusta because these were old purchases, there is very little clarity on how to deal with the black-listed company in the future.
Separately, there has been no significant progress in replacing the Sea King with a more modern helicopter. In 2014, the government cleared a 1800 crore deal to acquire 16 multi-role helicopters. One of the two helicopters shortlisted was the European NH-90, which was later blacklisted since it too is manufactured by a consortium that included Finmeccanica.
Concerned about the glaring lack of Naval choppers, the government decided to go ahead with negotiations with the second shortlisted firm, Sikorsky. But in November last year, Sikorsky was acquired by US aviation major Lockheed Martin, and price negotiations for the helicopters have stalled with the new management.
A larger deal for 120 Naval multi-role helicopters worth upwards of US $8 billion has not progressed beyond a very preliminary Request for Information (RFI) stage, and there has been no progress in replacing the outdated Chetak Light Utility Choppers of the Navy.
Caught in the middle of a procurement nightmare entirely out of its control, the Indian Navy continues to make do with old, obsolete helicopters completely at odds with its reputation of being a world-class force capable of projecting force far from India's shores.
The Rear Admiral commanding the fleet knows that it enters China's backyard, the South China Sea, with a glaring operational shortfall. He has just a single anti-submarine helicopter between the four warships: a Westland Sea King, variant of a chopper that first entered service with the Indian Navy 45 years ago.
The other two helicopters on the decks of the warships are French-designed Chetak helicopters which began flying in India 55 years ago. The Chetaks are unarmed, have no ability to track enemy submarines and serve only a very basic utility role.
The sad state of the Indian Navy's helicopter fleet comes at a time when several state-of-the-art warships are being built at Indian shipyards, perhaps the biggest success of this government's Make-In-India campaign to reduce the import of military equipment. In fact, two of these warships, the guided missile frigates INS Satpura and INS Sahyadri are part of the fleet sailing to the South China Seas. Designed to carry four large anti-submarine helicopters between them, they are making do with the single and elderly Sea King.
The programme to replace hundreds of archaic Indian Navy helicopters, already painfully slow, has been further enervated by the AgustaWestland scam, which involved a corrupt deal for the Air Force to buy 12 VIP helicopters. Agusta and its parent company Finmecannica are now banned from getting government orders.
Last year, the Defence Ministry cleared an essential upgrade for 10 Russia-built Kamov helicopters, which first entered the Navy in the eighties. The deal was worth 2,100 crores.
But advanced surveillance and radar equipment that was to be added is made by a subsidiary of Finmecannica. The Selex systems meant to be installed included infrared sensors to detect targets in low visibility along with a multi-mode phased array radar to lock onto small targets at sea.
NDTV has learned that there is no clear indicator on whether the government will go ahead with modernizing the Russian helicopters for this reason, even though rules allow for Finmecannica systems if the firm is a subcontractor and not the main vendor- in this case, the supplier of the helicopters.
The elderly Sea King anti-submarine helicopters like the one sent with the fleet of warships this week were manufactured by Westland, part of the Finmeccanica chain of companies. Though less than ten of the old choppers are thought to remain fully operational, there is a concern that spares for the ones that are used may be affected as a fallout of the ongoing controversy.
Senior sources in the Indian Navy have told that while the Defence Ministry categorically allows the Navy to source spares for these choppers from Agusta because these were old purchases, there is very little clarity on how to deal with the black-listed company in the future.
Separately, there has been no significant progress in replacing the Sea King with a more modern helicopter. In 2014, the government cleared a 1800 crore deal to acquire 16 multi-role helicopters. One of the two helicopters shortlisted was the European NH-90, which was later blacklisted since it too is manufactured by a consortium that included Finmeccanica.
Concerned about the glaring lack of Naval choppers, the government decided to go ahead with negotiations with the second shortlisted firm, Sikorsky. But in November last year, Sikorsky was acquired by US aviation major Lockheed Martin, and price negotiations for the helicopters have stalled with the new management.
A larger deal for 120 Naval multi-role helicopters worth upwards of US $8 billion has not progressed beyond a very preliminary Request for Information (RFI) stage, and there has been no progress in replacing the outdated Chetak Light Utility Choppers of the Navy.
Caught in the middle of a procurement nightmare entirely out of its control, the Indian Navy continues to make do with old, obsolete helicopters completely at odds with its reputation of being a world-class force capable of projecting force far from India's shores.
Five Parties Fail To Open Account In Kerala Elections
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THIRUVANANTHAPURAM: As the Left Democratic Front (LDF) returned to power in Kerala after a five-year hiatus, five parties that cast their lot with either the LDF or the Congress-led United Democratic Front failed to open their assembly account.
In the UDF camp, the Revolutionary Socialist Party (B) and the Janata Dal (United), which had two legislators each in the outgoing house, came a cropper in the May 16 elections.
Another UDF ally Communist Marxist Party's lone candidate CP John too failed to win, a repeat of the 2011 elections.
The Kerala Congress (Democratic), a new ally of the LDF, fought on four seats but ended up losing all. The party was formed just before the assembly elections when four top leaders of the Kerala Congress (Mani) walked out.
The losers included two-time Lok Sabha member Francis George and former legislators KC Joseph, Antony Raju and PC Joseph.
Another loser in the LDF camp was former Lok Sabha member Scaria Thomas, whose party Kerala Congress (Scaria) failed to open its account, as it did in 2011.
In the UDF camp, the Revolutionary Socialist Party (B) and the Janata Dal (United), which had two legislators each in the outgoing house, came a cropper in the May 16 elections.
Another UDF ally Communist Marxist Party's lone candidate CP John too failed to win, a repeat of the 2011 elections.
The Kerala Congress (Democratic), a new ally of the LDF, fought on four seats but ended up losing all. The party was formed just before the assembly elections when four top leaders of the Kerala Congress (Mani) walked out.
The losers included two-time Lok Sabha member Francis George and former legislators KC Joseph, Antony Raju and PC Joseph.
Another loser in the LDF camp was former Lok Sabha member Scaria Thomas, whose party Kerala Congress (Scaria) failed to open its account, as it did in 2011.
MK Stalin's Spirited Campaign Makes It A Close Contest In Tamli Nadu
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CHENNAI: MK Stalin, the long standing heir apparent to DMK chief M Karunanidhi, may have failed to oust AIADMK but a spirited campaign for over a year marked by a makeover virtually made it a close race in Tamil Nadu where traditionally the contests have been one sided.
Analysts now believe that if the DMK had projected him the chief ministerial face instead of his 91-year-old father the whole hog, probably the election verdict could have been different.
Targeting Tamil Nadu Chief Minister and AIADMK chief Jayalalithaa over "inaccessibility", 63-year-old Mr Stalin carefully worked out the campaign beginning with his massive voter outreach programme "Namakku Naame Vidiyal Meetpu Payanam" (We for ourselves, journey to retrieve dawn) as early as last September.
Though his estranged brother Alagiri called it a "comedy show", he continued to vigorously canvas support for his party going for a complete image makeover-- giving up the trademark attire of Dravidian politicians of dhothi and shawl and donning sports shoes -- with an aim of appealing to the huge young electorate.
The reachout plan covered all the 234 assembly constituencies. He made it a point to directly interact with people held a string of programmes and rallies like the Vidiyal Meetru Perani.
He was seen shaking hands with passengers in bus, auto and in other public places and listening to their grievances.
During campaign in open-top vans, he consciously put him arm around party candidates and said this is "democracy and brotherhood" in DMK and mocked at AIADMK men for bowing before their chief Jayalalithaa.
Such gestures were used by DMK to portray their leader as an accessible and affable personality juxtaposing it with the perception of Jayalalithaa as an "inaccessible" leader.
Also, Mr Stalin tried out new initiatives like "Pesalam Vanga," (Come Let us Talk), just like the Chai pe Charcha of Prime Minister Narendra Modi, with the people of his constituency Kolathur in Chennai.
He extensively toured Tamil Nadu, addressed hundreds of public meetings and rallies and even expressed regret for some "mistakes" that happened during the previous DMK tenure and assured people that such things will not be repeated if his party was voted back to power.
DMK today is largely under his control. With his older brother and former Union Minister MK Alagiri expelled from party in 2014, there is no one else in the party who could challenge him.
Analysts now believe that if the DMK had projected him the chief ministerial face instead of his 91-year-old father the whole hog, probably the election verdict could have been different.
Targeting Tamil Nadu Chief Minister and AIADMK chief Jayalalithaa over "inaccessibility", 63-year-old Mr Stalin carefully worked out the campaign beginning with his massive voter outreach programme "Namakku Naame Vidiyal Meetpu Payanam" (We for ourselves, journey to retrieve dawn) as early as last September.
Though his estranged brother Alagiri called it a "comedy show", he continued to vigorously canvas support for his party going for a complete image makeover-- giving up the trademark attire of Dravidian politicians of dhothi and shawl and donning sports shoes -- with an aim of appealing to the huge young electorate.
He was seen shaking hands with passengers in bus, auto and in other public places and listening to their grievances.
During campaign in open-top vans, he consciously put him arm around party candidates and said this is "democracy and brotherhood" in DMK and mocked at AIADMK men for bowing before their chief Jayalalithaa.
Such gestures were used by DMK to portray their leader as an accessible and affable personality juxtaposing it with the perception of Jayalalithaa as an "inaccessible" leader.
Also, Mr Stalin tried out new initiatives like "Pesalam Vanga," (Come Let us Talk), just like the Chai pe Charcha of Prime Minister Narendra Modi, with the people of his constituency Kolathur in Chennai.
He extensively toured Tamil Nadu, addressed hundreds of public meetings and rallies and even expressed regret for some "mistakes" that happened during the previous DMK tenure and assured people that such things will not be repeated if his party was voted back to power.
DMK today is largely under his control. With his older brother and former Union Minister MK Alagiri expelled from party in 2014, there is no one else in the party who could challenge him.
Tarun Gogoi's Hattrick Comes To A Thunderous Stop
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GUWAHATI: Battling anti-incumbency and age, Tarun Gogoi failed to weave his magic to bring Congress back to power after creating history earlier with a hat trick in the last elections.
With once- favourite party colleagues turning bitter foes, the 80-year-old party veteran waged a lonely battle but could not stem the tide against the Congress.
Credited with bringing the dreaded ULFA to the negotiating table, hauling out Assam from the brink of bankruptcy and putting it back on the track of development and progress, third term in office for Mr Gogoi, 80, was marked by dissidence led by his former blue-eyed boy and powerful politician Himanta Biswa Sarma.
Mr Sarma, who was nursing hope to become the state Chief Minister, led a revolt along with a section of Congress legislators after the last Lok Sabha polls in 2014 but Mr Gogoi, who enjoys the confidence of UPA Chairperson Sonia Gandhi, continued in office by effecting a reshuffle in the ministry.
Mr Sarma resigned as minister, from the party and also from the assembly before joining the BJP taking along nine MLAs close to him, who were later disqualified as MLAs and this dealt a major blow to both Mr Gogoi and the Congress which hurt the prospects in the assembly polls considerably.
Notwithstanding the genial smile and a straight-forward approach, Mr Gogoi, who has also served as an Union Minister twice and a six term Lok Sabha MP from the state, possesses a keen political acumen and comes across as a visionary who means business while taking steps for the development of Assam. .
The highlight of Gogoi's 15-year rule was bringing several militant outfits of the state, including the banned ULFA, to the negotiating table, ensuring financial stability of the state government and turning around the state's economy by implementation of various schemes, particularly in the rural areas.
Barring sporadic incidents of violence mostly by the NDFB(S) and the Bodo-Muslim conflict in BTAD areas, Mr Gogoi's third term in office witnessed a relatively violence-free tenure with the Chief Minister claiming that a much improved law and order situation in the state was his single most achievement of his three terms in office.
Mr Gogoi took over the reins of the government for the first time on May 17, 2001 from the then ruling Asom Gana Parishad (AGP) and was faced with the onerous task of bringing the state out of the morass of militant violence and financial instability characterised by a huge debt burden with even government employees not receiving their salaries on time.
Mr Gogoi's initiative in this direction paid dividends with the Congress returning to power for the second consecutive term, albeit with lesser seats, and formed the government in alliance with its coalition partner Bodoland Peoples' Front (BPF).
Mr Gogoi's second term as Chief Minister was a mix of high and low with the multi-crore North Cachar Hills fund diversion scheme creating embarrassment but he successfully countered it by bringing several militant organisations like the ULFA, NDFB (Pro-talk group), DHD, UPDS and others to the negotiating table.
Plagued by ill-health during the last year of his second term, Mr Gogoi underwent three complicated heart surgeries. He again underwent a surgery for replacing his pace maker just a few weeks before campaign began for the assembly polls in 2011. In both cases, he recovered fast and took over charge of both office and election campaign with renewed vigour.
During this year's assembly polls, however, Mr Gogoi led from the front addressing the highest number of public rallies and meetings without giving an inkling about his ill-health or advancing age despite Prime Minister Narendra Modi harping on several occasions on him being "too old who must go".
Mr Gogoi's penchant for politics took roots early in life and though his father had wanted him to study medicine or engineering, he had set his heart on politics, even once announcing to one of his teachers that he wanted to become a Prime Minister when he grows up.
Highly impressed and motivated by then Prime Minister Jawaharlal Nehru who visited Jorhat in 1952, Mr Gogoi, then studying in Class X, began participating in various political activities and much to the annoyance of his father and teachers failed to clear his High School Leaving examinations that year. He managed to appease them when he cleared it next year as a private candidate.
After leaving school, he joined the Jagannath Barooah College where he plunged into students' politics and after his graduation, joined the Allahabad University to pursue a law degree. He, however, fell ill and returned to Assam getting his law degree from Gauhati University.
Mr Gogoi, an active leader of the Assam unit of Bharat Yuvak Samaj, joined the Congress in 1963 and since then has been a party loyalist to the core ardently supporting both Indira Gandhi, her son Rajiv Gandhi and now Sonia Gandhi.
He also served the party as an AICC General Secretary and Joint Secretary in 1980s, besides heading the Assam Pradesh Congress Committee from 1986-90 and again from 1996 to 2001.
His foray into electoral political office began with his election as a member of the Jorhat Municipal Board in 1968 and in 1971 he was elected to the Lok Sabha for the first time from the Jorhat Parliamentary constituency.
Mr Gogoi was member of the fifth, sixth, seven, ten, twelve and thirteenth Lok Sabha and was the Union Minister of Food Processing with independent charge from 1991 to 1995.
Mr Gogoi also served as member in several committees including the Committee on Government Assurances, on External Affairs, Consultative Committee of Ministry of Petroleum and Natural Gas and Committee on Railways.
An ardent sports lover, Mr Gogoi earlier played golf regularly, though he regrets not getting enough time to pursue his hobby as often as he would like, and keenly follows Cricket, Football and Tennis. He is also fond of reading, gardening, good food and earlier enjoyed shopping for his own clothes and accessories.
Married to Dolly Gogoi, a post graduate in Zoology from Gauhati University, in 1972, the couple has a daughter, Chandrima, an MBA who lives abroad with her husband, and a son Gaurav.
With once- favourite party colleagues turning bitter foes, the 80-year-old party veteran waged a lonely battle but could not stem the tide against the Congress.
Credited with bringing the dreaded ULFA to the negotiating table, hauling out Assam from the brink of bankruptcy and putting it back on the track of development and progress, third term in office for Mr Gogoi, 80, was marked by dissidence led by his former blue-eyed boy and powerful politician Himanta Biswa Sarma.
Mr Sarma resigned as minister, from the party and also from the assembly before joining the BJP taking along nine MLAs close to him, who were later disqualified as MLAs and this dealt a major blow to both Mr Gogoi and the Congress which hurt the prospects in the assembly polls considerably.
Notwithstanding the genial smile and a straight-forward approach, Mr Gogoi, who has also served as an Union Minister twice and a six term Lok Sabha MP from the state, possesses a keen political acumen and comes across as a visionary who means business while taking steps for the development of Assam. .
The highlight of Gogoi's 15-year rule was bringing several militant outfits of the state, including the banned ULFA, to the negotiating table, ensuring financial stability of the state government and turning around the state's economy by implementation of various schemes, particularly in the rural areas.
Barring sporadic incidents of violence mostly by the NDFB(S) and the Bodo-Muslim conflict in BTAD areas, Mr Gogoi's third term in office witnessed a relatively violence-free tenure with the Chief Minister claiming that a much improved law and order situation in the state was his single most achievement of his three terms in office.
Mr Gogoi took over the reins of the government for the first time on May 17, 2001 from the then ruling Asom Gana Parishad (AGP) and was faced with the onerous task of bringing the state out of the morass of militant violence and financial instability characterised by a huge debt burden with even government employees not receiving their salaries on time.
Mr Gogoi's initiative in this direction paid dividends with the Congress returning to power for the second consecutive term, albeit with lesser seats, and formed the government in alliance with its coalition partner Bodoland Peoples' Front (BPF).
Mr Gogoi's second term as Chief Minister was a mix of high and low with the multi-crore North Cachar Hills fund diversion scheme creating embarrassment but he successfully countered it by bringing several militant organisations like the ULFA, NDFB (Pro-talk group), DHD, UPDS and others to the negotiating table.
Plagued by ill-health during the last year of his second term, Mr Gogoi underwent three complicated heart surgeries. He again underwent a surgery for replacing his pace maker just a few weeks before campaign began for the assembly polls in 2011. In both cases, he recovered fast and took over charge of both office and election campaign with renewed vigour.
During this year's assembly polls, however, Mr Gogoi led from the front addressing the highest number of public rallies and meetings without giving an inkling about his ill-health or advancing age despite Prime Minister Narendra Modi harping on several occasions on him being "too old who must go".
Mr Gogoi's penchant for politics took roots early in life and though his father had wanted him to study medicine or engineering, he had set his heart on politics, even once announcing to one of his teachers that he wanted to become a Prime Minister when he grows up.
Highly impressed and motivated by then Prime Minister Jawaharlal Nehru who visited Jorhat in 1952, Mr Gogoi, then studying in Class X, began participating in various political activities and much to the annoyance of his father and teachers failed to clear his High School Leaving examinations that year. He managed to appease them when he cleared it next year as a private candidate.
After leaving school, he joined the Jagannath Barooah College where he plunged into students' politics and after his graduation, joined the Allahabad University to pursue a law degree. He, however, fell ill and returned to Assam getting his law degree from Gauhati University.
Mr Gogoi, an active leader of the Assam unit of Bharat Yuvak Samaj, joined the Congress in 1963 and since then has been a party loyalist to the core ardently supporting both Indira Gandhi, her son Rajiv Gandhi and now Sonia Gandhi.
He also served the party as an AICC General Secretary and Joint Secretary in 1980s, besides heading the Assam Pradesh Congress Committee from 1986-90 and again from 1996 to 2001.
His foray into electoral political office began with his election as a member of the Jorhat Municipal Board in 1968 and in 1971 he was elected to the Lok Sabha for the first time from the Jorhat Parliamentary constituency.
Mr Gogoi was member of the fifth, sixth, seven, ten, twelve and thirteenth Lok Sabha and was the Union Minister of Food Processing with independent charge from 1991 to 1995.
Mr Gogoi also served as member in several committees including the Committee on Government Assurances, on External Affairs, Consultative Committee of Ministry of Petroleum and Natural Gas and Committee on Railways.
An ardent sports lover, Mr Gogoi earlier played golf regularly, though he regrets not getting enough time to pursue his hobby as often as he would like, and keenly follows Cricket, Football and Tennis. He is also fond of reading, gardening, good food and earlier enjoyed shopping for his own clothes and accessories.
Married to Dolly Gogoi, a post graduate in Zoology from Gauhati University, in 1972, the couple has a daughter, Chandrima, an MBA who lives abroad with her husband, and a son Gaurav.
Green Tribunal Declares Rs. 5,000 Fine For Dumping Waste In Aravallis
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NEW DELHI: Any individual spotted throwing waste or muck in the Aravalli forest would now have to pay a penalty of Rs. 5000, the National Green Tribunal has said while slamming authorities over reckless dumping of industrial waste and construction debris in the green area.
"Every person who is found to be throwing muck or waste in that area, the respondent authorities are at liberty to seize the vehicles and impose cost of Rs. 5000 as environmental compensation for each of such violations as it will be an apparent violation of our order dated January 22, 2016.
"There will be proper check points at the beginning of the roads and entering towards the Aravalli hills. Let the compliance status report be submitted before the next date of hearing," a bench headed by NGT Chairperson Justice Swantanter Kumar said.
It also directed the Police Commissioners of Gurgaon and Faridabad to ensure that the directions issued by NGT are fully complied and posted the matter for hearing on July 13.
During the hearing, the counsels appearing for different parties assured the tribunal that that they would take immediate steps to ensure that no muck or other waste is thrown in the forest area of Aravalli hills.
The counsels also said that the departments concerned would appoint teams which will keep vigil in the area. On January 22, the tribunal had restrained Haryana Urban Development Authority or HUDA and Gurgaon Municipal Corporation from dumping waste in the Aravalli forest and issued them notice to show cause why environmental compensation not be imposed on them.
The green panel's order came on the plea filed by environmentalist Vivek Kamboj, who had alleged that municipal corporations of Gurgaon and Faridabad were disposing of industrial waste and construction debris in forest areas on the Gurgaon-Faridabad road.
He had also filed photographs showing that tractors which are involved in dumping of waste, belong to HUDA and municipal corporation of Gurgaon.
Mr Kamboj had referred to a newspaper report which said that construction debris was found being dumped in forest area and quoted a resident there who states that lots of vehicles dump waste in forest area on every Sunday morning.
"Every person who is found to be throwing muck or waste in that area, the respondent authorities are at liberty to seize the vehicles and impose cost of Rs. 5000 as environmental compensation for each of such violations as it will be an apparent violation of our order dated January 22, 2016.
"There will be proper check points at the beginning of the roads and entering towards the Aravalli hills. Let the compliance status report be submitted before the next date of hearing," a bench headed by NGT Chairperson Justice Swantanter Kumar said.
It also directed the Police Commissioners of Gurgaon and Faridabad to ensure that the directions issued by NGT are fully complied and posted the matter for hearing on July 13.
During the hearing, the counsels appearing for different parties assured the tribunal that that they would take immediate steps to ensure that no muck or other waste is thrown in the forest area of Aravalli hills.
The counsels also said that the departments concerned would appoint teams which will keep vigil in the area. On January 22, the tribunal had restrained Haryana Urban Development Authority or HUDA and Gurgaon Municipal Corporation from dumping waste in the Aravalli forest and issued them notice to show cause why environmental compensation not be imposed on them.
The green panel's order came on the plea filed by environmentalist Vivek Kamboj, who had alleged that municipal corporations of Gurgaon and Faridabad were disposing of industrial waste and construction debris in forest areas on the Gurgaon-Faridabad road.
He had also filed photographs showing that tractors which are involved in dumping of waste, belong to HUDA and municipal corporation of Gurgaon.
Mr Kamboj had referred to a newspaper report which said that construction debris was found being dumped in forest area and quoted a resident there who states that lots of vehicles dump waste in forest area on every Sunday morning.
Business Affairs
HSBC to halve branches, slash 300 jobs in India
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British banking major HSBC on Thursday announced a consolidation exercise under which it will almost halve the number of branches in the country to 26, which will lead to 300 job losses.
The total number of branches will be coming down to 26 in 14 cities from 50 in 29 cities earlier, with a bulk of impact on presence in smaller centres.
It added that the impacted branches account for only 10 per cent of the customer base in the country.
The exercise will lead to over 300 job losses, which is less than one per cent of its total workforce of over 33,000 people in the country.
The reduction in branches is due to customers' adoption of digital solutions, it said.
"This change reflects changes in customer behaviour, who are increasingly using digital channels for their banking," the bank said in a statement.
"Customer expectations are changing rapidly and we need to adapt accordingly. India is a priority market for HSBC and we will continue to invest to achieve sustainable growth by supporting the needs of our customers," HSBC India's chief executive Stuart Milne said.
The consolidation exercise is the result of a strategic review of retail and wealth management vertical and will be carried out in the coming months in a phased manner, said HSBC, which has been present in India since 1853.
The priority is to ensure "changes are implemented in a manner which will minimise disruption to its customers and its staff", the statement said.
The bank said India was the fourth biggest contributor to the group with a pre-tax profit of $606 million in 2015 and the retail business is "core" to its India franchise.
Even as the physical locations are reduced, the bank will continue to invest in the retail operations, it said, adding that soon, it will be coming out with an "expanded proposition" for top-tier clients.
A list of the impacted branches shared by the bank illustrated that it is withdrawing from smaller cities and towns but will continue to keep its presence in the metros and big cities.
It is closing branches in Guwahati, Indore, Jodhpur, Lucknow, Ludhiana, Thane, Mysore, Nagpur, Nashik, Patna, Raipur, Surat, Trivandrum, Vadodara and Vishakapatnam, while bigger cities like Kolkata (5 branches), Chennai (1), Delhi (2) and Pune (1) will also be impacted.
The bank will continue to have its presence in Ahmedabad, Bengaluru (2 branches), Chennai, Coimbatore, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai (9), New Delhi (3), Noida and Pune, it said.
The announcement comes at a time when the Reserve Bank has asked foreign lenders to turn into wholly-owned subsidiaries (WOS) rather than operate as branches of foreign entities.
Singaporean lender DBS Bank, one of the first ones to apply for WOS conversion, has announced aggressive plans to expand its physical presence in the country.
Digital involves adoption of alternative channels of banking services delivery like mobile and internet.
The introduction of tools like Aadhaar card has only made it easier, wherein now even an account can be opened without a physical visit to any branch.
British banking major HSBC on Thursday announced a consolidation exercise under which it will almost halve the number of branches in the country to 26, which will lead to 300 job losses.
The total number of branches will be coming down to 26 in 14 cities from 50 in 29 cities earlier, with a bulk of impact on presence in smaller centres.
It added that the impacted branches account for only 10 per cent of the customer base in the country.
The exercise will lead to over 300 job losses, which is less than one per cent of its total workforce of over 33,000 people in the country.
The reduction in branches is due to customers' adoption of digital solutions, it said.
"This change reflects changes in customer behaviour, who are increasingly using digital channels for their banking," the bank said in a statement.
"Customer expectations are changing rapidly and we need to adapt accordingly. India is a priority market for HSBC and we will continue to invest to achieve sustainable growth by supporting the needs of our customers," HSBC India's chief executive Stuart Milne said.
The consolidation exercise is the result of a strategic review of retail and wealth management vertical and will be carried out in the coming months in a phased manner, said HSBC, which has been present in India since 1853.
The priority is to ensure "changes are implemented in a manner which will minimise disruption to its customers and its staff", the statement said.
The bank said India was the fourth biggest contributor to the group with a pre-tax profit of $606 million in 2015 and the retail business is "core" to its India franchise.
Even as the physical locations are reduced, the bank will continue to invest in the retail operations, it said, adding that soon, it will be coming out with an "expanded proposition" for top-tier clients.
A list of the impacted branches shared by the bank illustrated that it is withdrawing from smaller cities and towns but will continue to keep its presence in the metros and big cities.
It is closing branches in Guwahati, Indore, Jodhpur, Lucknow, Ludhiana, Thane, Mysore, Nagpur, Nashik, Patna, Raipur, Surat, Trivandrum, Vadodara and Vishakapatnam, while bigger cities like Kolkata (5 branches), Chennai (1), Delhi (2) and Pune (1) will also be impacted.
The bank will continue to have its presence in Ahmedabad, Bengaluru (2 branches), Chennai, Coimbatore, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai (9), New Delhi (3), Noida and Pune, it said.
The announcement comes at a time when the Reserve Bank has asked foreign lenders to turn into wholly-owned subsidiaries (WOS) rather than operate as branches of foreign entities.
Singaporean lender DBS Bank, one of the first ones to apply for WOS conversion, has announced aggressive plans to expand its physical presence in the country.
Digital involves adoption of alternative channels of banking services delivery like mobile and internet.
The introduction of tools like Aadhaar card has only made it easier, wherein now even an account can be opened without a physical visit to any branch.
SpiceJet's fourth quarter net profit surges to Rs 730 million
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SpiceJet Ltd, India's fourth-largest airline by market share, reported fourth-quarter net profit more than tripled on lower fuel prices and as it flew more passengers.
Net profit jumped to 730 million rupees ($10.8 million) for the three months to March 31, from 225 million rupees a year earlier, the airline said on Thursday.
It had a one-time expense of 1.73 billion rupees in the March quarter towards "stabilising and improving the reliability of its fleet", SpiceJet said in a statement.
SpiceJet Ltd, India's fourth-largest airline by market share, reported fourth-quarter net profit more than tripled on lower fuel prices and as it flew more passengers.
Net profit jumped to 730 million rupees ($10.8 million) for the three months to March 31, from 225 million rupees a year earlier, the airline said on Thursday.
It had a one-time expense of 1.73 billion rupees in the March quarter towards "stabilising and improving the reliability of its fleet", SpiceJet said in a statement.
India eyes oil-for-drugs deal with Venezuela to recoup pharma cash
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Indian officials say they have proposed an oil-for-drugs barter plan with cash-strapped Venezuela to recoup millions of dollars in payments owed to some of India's largest pharmaceutical companies.
Several of India's generics producers, led by the country's second-largest player Dr Reddy's Laboratories Ltd, bet heavily on Venezuela as they sought emerging market alternatives to slower-growing economies such as the United States.
But the unravelling of Venezuela's socialist economy amid a fall in oil prices has triggered triple-digit inflation and a full-blown political and financial crisis. Unable to pay its bills, the country is facing severe shortages of even basic supplies such as food, water and medicines.
Dr Reddy's wrote off $65 million in the March quarter, which it said was almost all the money it was owed from Venezuela. Rival Glenmark Pharmaceuticals Inc, another major investor, says it is due $45 million.
"The situation in Venezuela is very precarious ... the government knows it needs to do something about the medicine shortage, that's why it is willing to discuss such a deal," one Indian official told Reuters.
"At this point, even if our companies get back 5 or 10 percent of the payment they are owed, they would be satisfied."
Venezuela's Health Ministry did not immediately respond to a request for comment.
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency.
The Indian officials, who could not be named as they are not allowed to speak to the media, said the trade ministry had proposed a payment mechanism that would allow Venezuela to repay some of the amount owed with oil.
The proposal, seen by Reuters, would use the State Bank of India to mediate the transfer. The plan is now awaiting approval on the Indian side from the finance ministry and the central bank, which regulates such payments.
India, one of the world's biggest oil importers along with the United States and China, had similarly elaborate barter deals with Iran, swapping rice and wheat for oil.
The officials said Venezuela had been receptive to the plan "in principle", but not made any concrete commitments yet.
Indian officials said a "high level" meeting with Venezuela was due in the coming months to discuss the proposed deal.
"The finance ministry has assured us that the government is fully committed to it, but it will take time," said P.V. Appaji, Director General of the Pharmaceutical Export Promotion Council of India, a body under the country's commerce ministry.
India's exports to Venezuela between April 2015 and February 2016 almost halved year-on-year to $125.5 million, compared with a year earlier. Most of that was pharmaceutical products.
The amount owed to Indian companies is modest on a global scale - Novartis AG, Bayer AG and Sanofi SA took heavier hits when they agreed to take bonds from state-owned oil company PDVSA in lieu of cash, sold at a deep discount.
But Venezuela is India's largest trade partner in Latin America and one of its key suppliers of oil.
A deal could also revive sales, albeit at a reduced level, at a time when Venezuela is desperately short of medical supplies, lacking as much as 80 percent of what it needs to treat its population, according to a Venezuelan industry body.
Of course, many other providers in the oil, food and trade sector are pressuring Venezuela to pay its debts at a time when the cash-strapped government is facing growing social unrest. The OPEC country's oil production is also expected to fall this year due to a lack of resources, a power crunch and maintenance problems, likely leaving it with less crude for export.
Both Dr Reddy's and Glenmark have now stopped shipping to Venezuela. But, neither have said they would pull out yet, as they continue to bet on the market's future potential.
Per capita consumption of medicines in Venezuela is high, and its healthcare market was growing at a rate of about 20 percent a year until 2014, when the economic crisis began.
Dr Reddy's Chief Operating Officer Abhijit Mukherjee said last week that Dr Reddy's remained "very focused" on Venezuela, where it has signed deals with two government organisations.
"Only condition to the contract is that we will dispatch (products) only when we get either the LC (licensing certificate) or some advance," he said.
Glenmark said it was evaluating its operations in Venezuela on a month-by-month basis.
"We are extremely encouraged that the Indian government is taking constructive steps to recover our money that is stuck in our own Venezuela subsidiary," said Chairman and Managing Director Glenn Saldanha in an emailed statement.
Indian officials say they have proposed an oil-for-drugs barter plan with cash-strapped Venezuela to recoup millions of dollars in payments owed to some of India's largest pharmaceutical companies.
Several of India's generics producers, led by the country's second-largest player Dr Reddy's Laboratories Ltd, bet heavily on Venezuela as they sought emerging market alternatives to slower-growing economies such as the United States.
But the unravelling of Venezuela's socialist economy amid a fall in oil prices has triggered triple-digit inflation and a full-blown political and financial crisis. Unable to pay its bills, the country is facing severe shortages of even basic supplies such as food, water and medicines.
Dr Reddy's wrote off $65 million in the March quarter, which it said was almost all the money it was owed from Venezuela. Rival Glenmark Pharmaceuticals Inc, another major investor, says it is due $45 million.
"The situation in Venezuela is very precarious ... the government knows it needs to do something about the medicine shortage, that's why it is willing to discuss such a deal," one Indian official told Reuters.
"At this point, even if our companies get back 5 or 10 percent of the payment they are owed, they would be satisfied."
Venezuela's Health Ministry did not immediately respond to a request for comment.
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency.
The Indian officials, who could not be named as they are not allowed to speak to the media, said the trade ministry had proposed a payment mechanism that would allow Venezuela to repay some of the amount owed with oil.
The Indian officials, who could not be named as they are not allowed to speak to the media, said the trade ministry had proposed a payment mechanism that would allow Venezuela to repay some of the amount owed with oil.
The proposal, seen by Reuters, would use the State Bank of India to mediate the transfer. The plan is now awaiting approval on the Indian side from the finance ministry and the central bank, which regulates such payments.
India, one of the world's biggest oil importers along with the United States and China, had similarly elaborate barter deals with Iran, swapping rice and wheat for oil.
The officials said Venezuela had been receptive to the plan "in principle", but not made any concrete commitments yet.
Indian officials said a "high level" meeting with Venezuela was due in the coming months to discuss the proposed deal.
"The finance ministry has assured us that the government is fully committed to it, but it will take time," said P.V. Appaji, Director General of the Pharmaceutical Export Promotion Council of India, a body under the country's commerce ministry.
India's exports to Venezuela between April 2015 and February 2016 almost halved year-on-year to $125.5 million, compared with a year earlier. Most of that was pharmaceutical products.
The amount owed to Indian companies is modest on a global scale - Novartis AG, Bayer AG and Sanofi SA took heavier hits when they agreed to take bonds from state-owned oil company PDVSA in lieu of cash, sold at a deep discount.
But Venezuela is India's largest trade partner in Latin America and one of its key suppliers of oil.
A deal could also revive sales, albeit at a reduced level, at a time when Venezuela is desperately short of medical supplies, lacking as much as 80 percent of what it needs to treat its population, according to a Venezuelan industry body.
Of course, many other providers in the oil, food and trade sector are pressuring Venezuela to pay its debts at a time when the cash-strapped government is facing growing social unrest. The OPEC country's oil production is also expected to fall this year due to a lack of resources, a power crunch and maintenance problems, likely leaving it with less crude for export.
Both Dr Reddy's and Glenmark have now stopped shipping to Venezuela. But, neither have said they would pull out yet, as they continue to bet on the market's future potential.
Per capita consumption of medicines in Venezuela is high, and its healthcare market was growing at a rate of about 20 percent a year until 2014, when the economic crisis began.
Dr Reddy's Chief Operating Officer Abhijit Mukherjee said last week that Dr Reddy's remained "very focused" on Venezuela, where it has signed deals with two government organisations.
"Only condition to the contract is that we will dispatch (products) only when we get either the LC (licensing certificate) or some advance," he said.
Glenmark said it was evaluating its operations in Venezuela on a month-by-month basis.
"We are extremely encouraged that the Indian government is taking constructive steps to recover our money that is stuck in our own Venezuela subsidiary," said Chairman and Managing Director Glenn Saldanha in an emailed statement.
Sensex dips 300 points, Nifty below 7,800 on hawkish US Fed minutes; Adani Ports top loser
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Extending losses for the second day, the S&P BSE Sensex on Thursday settled the day over 304 points lower, while the broader CNX Nifty fell below its key 7,800-mark.
The headline indices tumbled tracking weak global stocks as caution prevailed about the possibility of an interest rate hike by the US Federal Reserve as early as June.
The 30-share index ended the day at 25,399, down 304.89 points, while broad-based 50-share index quoted 7,783, down 86.75 points at close.
Market breadth turned fairly negative with 26 of the 30 Sensex components ending the day in red.
Minutes released on Wednesday showed Fed officials said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment.
The minutes come a day after comments from Fed officials had appeared to signal potential rate hikes.
Reflecting these concerns, Asian stocks fell while the dollar index hovered just below a seven-week high, boosted by sharply higher US Treasury yields.
"Fed rate hike is a worry not just for India but for all emerging markets and it is this uncertainty which is turning markets more volatile," said Daljeet Kohli, director and head of research at IndiaNivesh Securities.
Adani Ports was the worst-performer on both the benchmark indices and fell 6.6 per cent on the Bombay Stock Exchange following Moody's decision to revise the company's rating outlook to "negative" from "stable".
Public sector lenders Punjab National Bank and Corporation Bank fell 2.69 per cent and 4.49 per cent respectively, after reporting quarterly losses on Wednesday.
Among other losers, Castrol India fell 2.25 per cent after majority shareholder BP sold partial stake in the company.
However, Parag Milk Foods jumped 14 per cent in its market debut. The dairy-based branded consumer product company's IPO was oversubscribed 1.9 times on the final day of the offer, which ended on May 11.
Extending losses for the second day, the S&P BSE Sensex on Thursday settled the day over 304 points lower, while the broader CNX Nifty fell below its key 7,800-mark.
The headline indices tumbled tracking weak global stocks as caution prevailed about the possibility of an interest rate hike by the US Federal Reserve as early as June.
The 30-share index ended the day at 25,399, down 304.89 points, while broad-based 50-share index quoted 7,783, down 86.75 points at close.
Market breadth turned fairly negative with 26 of the 30 Sensex components ending the day in red.
Minutes released on Wednesday showed Fed officials said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment.
The minutes come a day after comments from Fed officials had appeared to signal potential rate hikes.
Reflecting these concerns, Asian stocks fell while the dollar index hovered just below a seven-week high, boosted by sharply higher US Treasury yields.
"Fed rate hike is a worry not just for India but for all emerging markets and it is this uncertainty which is turning markets more volatile," said Daljeet Kohli, director and head of research at IndiaNivesh Securities.
Adani Ports was the worst-performer on both the benchmark indices and fell 6.6 per cent on the Bombay Stock Exchange following Moody's decision to revise the company's rating outlook to "negative" from "stable".
Public sector lenders Punjab National Bank and Corporation Bank fell 2.69 per cent and 4.49 per cent respectively, after reporting quarterly losses on Wednesday.
Among other losers, Castrol India fell 2.25 per cent after majority shareholder BP sold partial stake in the company.
However, Parag Milk Foods jumped 14 per cent in its market debut. The dairy-based branded consumer product company's IPO was oversubscribed 1.9 times on the final day of the offer, which ended on May 11.
Moody's says India's private investment remains weak, sees economic growth at 7.5% in 2016, 2017
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Projecting an economic growth rate of close to 7.5 per cent in 2016 and 2017, Moody's Investors Service said the prevailing low headline inflation is expected to continue aided by a good monsoon, allowing RBI to sustain its current accommodative stance.
However, Moody's in a report said India has a strong GDP growth, but private investment remains weak.
Modest exposure to trade in goods and a net-commodity importing status has to some extent shielded the economy from external headwinds. However, weak global growth has meant a 9 per cent annual decline in exports in real terms in fourth quarter of 2015 after declining by an average 5.6 per cent in the first three quarters of 2015. Moreover, investment spending fell in the last quarter of 2015, as did industrial production and capital utilisation rates remain low, it said.
India's overall economic growth, it said, is supported by robust consumer spending, which makes up 55 per cent of aggregate demand in the economy. Prevailing low headline inflation is expected to remain so, given the current forecast of a good monsoon season, and should allow the Reserve Bank of India to sustain its current accommodative stance, Moody's said, adding it expects Indian economy to continue to grow close to an annual rate of 7.5 per cent in real terms in 2016 and 2017, largely driven by private consumption growth.
Private spending will be supported by the implementation of the public sector salary increases, mandated by the 7th Pay Commission, and a rise in rural incomes, provided the forecast of a good monsoon is realised. Looking forward the impact of weaker commodity prices is likely to fade over time with the stabilization of commodity prices.
Combined with the fact that external demand is likely to remain lackluster, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained, it added.
Projecting an economic growth rate of close to 7.5 per cent in 2016 and 2017, Moody's Investors Service said the prevailing low headline inflation is expected to continue aided by a good monsoon, allowing RBI to sustain its current accommodative stance.
However, Moody's in a report said India has a strong GDP growth, but private investment remains weak.
Modest exposure to trade in goods and a net-commodity importing status has to some extent shielded the economy from external headwinds. However, weak global growth has meant a 9 per cent annual decline in exports in real terms in fourth quarter of 2015 after declining by an average 5.6 per cent in the first three quarters of 2015. Moreover, investment spending fell in the last quarter of 2015, as did industrial production and capital utilisation rates remain low, it said.
India's overall economic growth, it said, is supported by robust consumer spending, which makes up 55 per cent of aggregate demand in the economy. Prevailing low headline inflation is expected to remain so, given the current forecast of a good monsoon season, and should allow the Reserve Bank of India to sustain its current accommodative stance, Moody's said, adding it expects Indian economy to continue to grow close to an annual rate of 7.5 per cent in real terms in 2016 and 2017, largely driven by private consumption growth.
Private spending will be supported by the implementation of the public sector salary increases, mandated by the 7th Pay Commission, and a rise in rural incomes, provided the forecast of a good monsoon is realised. Looking forward the impact of weaker commodity prices is likely to fade over time with the stabilization of commodity prices.
Combined with the fact that external demand is likely to remain lackluster, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained, it added.
General Awareness
World’s largest Single Rooftop Solar Power Plant inaugurated in Amritsar
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Investment: Rs 82 Crore (2012) to Rs. 10,000 Crore
Employment Potential: 12,500
World’s largest single rooftop stretch of 42 acre solar power plant of 11.5 Mw capacity was installed in India
Inauguration by: New & Renewable Energy Resources Minister of Punjab Bikram Singh Majithia
Project at: Beas in Punjab
Second biggest Installed Project:
Mandalay Bay Resort Convention Centre, Las Vegas in the United States is next biggest solar photovoltic power station
- Capacity: 6.4 megawatts (Mw)
- Contractors for the project were Indian Giants Tata Power and Larsen and Toubro
Additional Projects Unveiled:
- Seven rooftop solar power plants of 8MW capacity in Beas Dera campus
- Highest single campus generating solar power of 19.5 Mw at multiple rooftops in the country
Power Generation in Punjab:
- 470 MW of solar power and with projects of 500 MW in the pipeline
- State is having capacity to generate solar power of 1,000 MW by the end of FY 2016-17
Minister Speech
- Installation would generate clean and green energy sufficient to power approximately 8,000 domestic homes
- Government has fixed a target of 40,000 MW power generations from different resources of renewable energy by 2022
- Role model to promote other states to repeat such large rooftops on the building/sheds
- Punjab would achieve a target of 2552 MW of renewable energy generation by 2022
About Punjab:
- Capital : Chandigarh
- Governor : Kaptan Singh Solanki
- Chief Minister : Parkash Singh Badal
Investment: Rs 82 Crore (2012) to Rs. 10,000 Crore
Employment Potential: 12,500
World’s largest single rooftop stretch of 42 acre solar power plant of 11.5 Mw capacity was installed in India
Inauguration by: New & Renewable Energy Resources Minister of Punjab Bikram Singh Majithia
Project at: Beas in Punjab- Capacity: 6.4 megawatts (Mw)
- Contractors for the project were Indian Giants Tata Power and Larsen and Toubro
- Seven rooftop solar power plants of 8MW capacity in Beas Dera campus
- Highest single campus generating solar power of 19.5 Mw at multiple rooftops in the country
- 470 MW of solar power and with projects of 500 MW in the pipeline
- State is having capacity to generate solar power of 1,000 MW by the end of FY 2016-17
- Installation would generate clean and green energy sufficient to power approximately 8,000 domestic homes
- Government has fixed a target of 40,000 MW power generations from different resources of renewable energy by 2022
- Role model to promote other states to repeat such large rooftops on the building/sheds
- Punjab would achieve a target of 2552 MW of renewable energy generation by 2022
- Capital : Chandigarh
- Governor : Kaptan Singh Solanki
- Chief Minister : Parkash Singh Badal
Second biggest Installed Project:Mandalay Bay Resort Convention Centre, Las Vegas in the United States is next biggest solar photovoltic power stationAdditional Projects Unveiled:Power Generation in Punjab:Minister SpeechAbout Punjab:
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