General Affairs
In Speech, PM Narendra Modi Defends Notes Ban, But Critics Say Hard Facts Missing
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Prime Minister Narendra Modi, in his second televised address since November 8, today defended his decision to demonetise the country's highest-value currency bills.
PM Modi described the gigantic demonetisation drive, which withdrew 86 per cent of the currency from the system, as "a historic purification ritual" to cleanse the system of tax evasion and corruption. "This will play an important role in changing the direction of the nation in times to come," he said.
The PM also used his 45-minute-long speech to announce financial assistance to groups that will be key in the upcoming and crucial election in Uttar Pradesh.
The speech came weeks before the government is expected to announce its annual budget, probably in February, and ahead of the model code of conduct, which will kick in as soon as the dates for the Uttar Pradesh election are announced, and prohibits any announcements that could influence voters.
PM Modi offered a 4 per cent discount on interest rates for home loans for up to 9 lakh rupees taken out in 2017 in urban areas and said rural housing will be expanded by 33 per cent. He also said the government would increase credit guarantees for small businesses and provided additional incentives for digital transactions.
Reducing the interest on certain loans for agriculture will be welcomed by farmers, a key constituent of the Uttar Pradesh election.
The withdrawal of 500- and 1,000-rupee bills on November 8 caused widespread disruption owing to India's near-complete dependence on cash transactions, and this evening's televised speech was seen as an opportunity to offer financial relief to people suffering most.
But critics said the PM had failed to disclose crucial information like how much of the abolished currency (which totaled about 15.5 lakh crores) has been returned, or the amount of new notes that have been made available. "Disappointed with PM's speech, many questions were left unanswered. His decision paralysed economy; country can't run this way," tweeted Randeep Surjewala of the Congress. Opposition leaders said that PM Modi, who had asked for: just 50 days" to resolve the cash crisis, has failed to meet his deadline, which expires now. "Financial Emergency continues in the name of black money cleanup. Money not available in banks. Still no concrete solutions to problems," tweeted West Bengal Chief Minister Mamata Banerjee who has played a pivotal role in the opposition's attack on the PM within and outside parliament.
Though the long lines at banks have thinned out in recent days, the new notes remain in short supply and experts say only about 40 per cent of ATMs are working.
Analysts have forecast that economic growth will be hit this quarter as a result. But the government is confident that long term gains will outweigh the short term pain and has repeatedly stressed that the PM's radical decision was aimed at banishing the shadow economy, boosting taxes, beating corruption and moving towards a cashless society.
"In this fight against corruption and black money, it is clear that you would like to walk shoulder to shoulder with us (the government)," PM Modi said, speaking first in Hindi and then in English. "For us in government, this is a blessing."
The Prime Minister, who swept to power in 2014 on the back of promises to root out graft, said the authorities would continue to stamp it out. "Serious offences by bank and government officials have come to light. No one will be spared," he said.
PM Modi described the gigantic demonetisation drive, which withdrew 86 per cent of the currency from the system, as "a historic purification ritual" to cleanse the system of tax evasion and corruption. "This will play an important role in changing the direction of the nation in times to come," he said.
The PM also used his 45-minute-long speech to announce financial assistance to groups that will be key in the upcoming and crucial election in Uttar Pradesh.
PM Modi offered a 4 per cent discount on interest rates for home loans for up to 9 lakh rupees taken out in 2017 in urban areas and said rural housing will be expanded by 33 per cent. He also said the government would increase credit guarantees for small businesses and provided additional incentives for digital transactions.
Reducing the interest on certain loans for agriculture will be welcomed by farmers, a key constituent of the Uttar Pradesh election.
But critics said the PM had failed to disclose crucial information like how much of the abolished currency (which totaled about 15.5 lakh crores) has been returned, or the amount of new notes that have been made available. "Disappointed with PM's speech, many questions were left unanswered. His decision paralysed economy; country can't run this way," tweeted Randeep Surjewala of the Congress. Opposition leaders said that PM Modi, who had asked for: just 50 days" to resolve the cash crisis, has failed to meet his deadline, which expires now. "Financial Emergency continues in the name of black money cleanup. Money not available in banks. Still no concrete solutions to problems," tweeted West Bengal Chief Minister Mamata Banerjee who has played a pivotal role in the opposition's attack on the PM within and outside parliament.
Though the long lines at banks have thinned out in recent days, the new notes remain in short supply and experts say only about 40 per cent of ATMs are working.
Analysts have forecast that economic growth will be hit this quarter as a result. But the government is confident that long term gains will outweigh the short term pain and has repeatedly stressed that the PM's radical decision was aimed at banishing the shadow economy, boosting taxes, beating corruption and moving towards a cashless society.
"In this fight against corruption and black money, it is clear that you would like to walk shoulder to shoulder with us (the government)," PM Modi said, speaking first in Hindi and then in English. "For us in government, this is a blessing."
The Prime Minister, who swept to power in 2014 on the back of promises to root out graft, said the authorities would continue to stamp it out. "Serious offences by bank and government officials have come to light. No one will be spared," he said.
General Dalbir Singh Suhag Retires From Service, Thanks Government For Support
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Army chief General Dalbir Singh Suhag on Saturday retired after 43 years in service. General Suhag thanked the government for giving the army a "free hand" to conduct operations.
General Dalbir Singh will shortly hand over charge to his successor General Bipin Rawat.
"After 43 years of service to the nation I superannuate today. I salute the martyrs who made supreme sacrifices," Dalbir Singh said after inspecting a guard of honour at the South Block lawns in New Delhi.
"Gratitude to the Prime Minister (Narendra Modi) for the support and free hand in conducting operations. For impetus on modernisation," General Dalbir Singh said.
He also thanked the government for "granting one rank one pension (OROP) to the ex-servicemen".
Praising the strength of the Indian Army, he said: "Indian Army is the finest and strongest army in the world. Our leaders are competent and soldiers are brave."
General Dalbir Singh will shortly hand over charge to his successor General Bipin Rawat.
"Gratitude to the Prime Minister (Narendra Modi) for the support and free hand in conducting operations. For impetus on modernisation," General Dalbir Singh said.
He also thanked the government for "granting one rank one pension (OROP) to the ex-servicemen".
Praising the strength of the Indian Army, he said: "Indian Army is the finest and strongest army in the world. Our leaders are competent and soldiers are brave."
69 Trains Delayed, 4 Cancelled Due To Fog In North India
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At least 69 trains were running late while four were cancelled on Saturday due to heavy fog in many parts of north India, a railway official said.
According to the Northern Railway official, the the Brahmputra Mail and Vikramshila Express were running 26 hours late while Nandan Kanan Express was running 16 hours behind schedule.
The official added that the Udyan Abha Toofan Express, Sampoorna Kranti Express from New Delhi to Rajendra Nagar, Taj Express and Kalka Mail were cancelled.
The official also said that 16 trains were rescheduled.
Meanwhile, according to the Delhi International Airport Limited, which manages operations at the Indira Gandhi International Airport here, flight operations were not affected on Friday.
According to the Northern Railway official, the the Brahmputra Mail and Vikramshila Express were running 26 hours late while Nandan Kanan Express was running 16 hours behind schedule.
The official added that the Udyan Abha Toofan Express, Sampoorna Kranti Express from New Delhi to Rajendra Nagar, Taj Express and Kalka Mail were cancelled.
The official also said that 16 trains were rescheduled.
Meanwhile, according to the Delhi International Airport Limited, which manages operations at the Indira Gandhi International Airport here, flight operations were not affected on Friday.
New Zealand's Auckland First World City To Bring In 2017
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New Zealand's Auckland has become the first major world city to welcome 2017, with fireworks erupted from the 328 metre tall Sky Tower in the city centre. Polynesia and Pacific islands including Samoa, Tonga and Kiribati entered 2017 at 11.00 am (Auckland time), BBC reported.
Many cities around the world have stepped up security for New Year's Eve celebrations, after a year in which attackers drove lorries into crowds in Berlin and Nice.
In Paris, Madrid and New York, concrete barriers and heavy goods vehicles will be used to block off central squares where crowds gather to celebrate, the BBC said.
Last year, celebrations in Europe were also overshadowed by security arrangements.
In Paris and Brussels, cities that saw major terrorist attacks in 2015, official celebrations were cancelled.
A "leap second" will be added to the countdown in countries in the GMT timezone to compensate for a slowdown in the Earth's rotation.
The extra second will occur as clocks strike midnight and a time of 23:59:60 GMT will be recorded, delaying 2017 momentarily.
This is required because standard time lags behind atomic clocks.
Many cities around the world have stepped up security for New Year's Eve celebrations, after a year in which attackers drove lorries into crowds in Berlin and Nice.
Last year, celebrations in Europe were also overshadowed by security arrangements.
In Paris and Brussels, cities that saw major terrorist attacks in 2015, official celebrations were cancelled.
A "leap second" will be added to the countdown in countries in the GMT timezone to compensate for a slowdown in the Earth's rotation.
The extra second will occur as clocks strike midnight and a time of 23:59:60 GMT will be recorded, delaying 2017 momentarily.
This is required because standard time lags behind atomic clocks.
BJP Forms Government In Arunachal Pradesh As Chief Minister Pema Khandu, 32 Others Join Party
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In a fast paced development, a BJP government was today installed in Arunachal Pradesh after 33, out of 43 Peoples' Party of Arunachal (PPA) MLAs led by Chief Minister Pema Khandu, joined the saffron brigade in this politically fragile state.
Mr Khandu paraded the MLAs before Assembly Speaker Tenzing Norbu Thongdok who accepted their joining.
The high-voltage political drama began since late Thursday night after PPA President Kahfa Bengia temporarily suspended Mr Khandu, his deputy Chowna Mein and five legislators from the primary membership of the party for alleged anti-party activities.
The PPA, an alliance partner of the North East Democratic Alliance (NEDA) government in the state, yesterday selected Takam Pario as the new chief minister of the state.
However, the political equation changed when majority of the PPA MLAs who initially extended support to Mr Pario, later shifted their allegiance to Mr Khandu.
The PPA today also suspended four other party MLAs including Honchun Ngandam, Bamang Felix, Punji Mara and Pani Taram.
"Lotus has finally bloomed in Arunachal. The people of the state will see a new dawn of development in the new year under the new government," Mr Khandu told reporters in the Assembly premises.
Elaborating on the decision to merge with the BJP, the chief minister said that circumstances compelled the MLAs to take the decision in the interest of the people and the state.
"After several years of Congress misrule we observed that there was no visible development in the state. We joined the PPA with the intention to take the state to progress and prosperity, but there too, we find similar condition where the party president treated the MLAs undemocratically.
"So with focus on development, our MLAs decided to join the BJP for overall progress of the state," the chief minister said.
Terming the decision of the PPA president to suspend the MLAs as "undemocratic," Mr Khandu said that before such a move the party leadership should have issued show cause notice to the MLAs.
"There was no significant development in the state since last year due to political turmoil, but now with NDA government at the Centre, the state will witness a sea change in the coming years," Mr Khandu said adding, "the decision to join the BJP is a blessing in disguise for the people and the state."
"Until and unless there is stability in the government, no development could take place. There will be no more dissident politics and we shall now only focus on development," Mr Khandu asserted.
When asked about the court case filed by Arunachal Pradesh Congress Committee (APCC) President Padi Richo against the joining of Congress MLAs with PPA which is pending with the Gauhati High court and which would be taken up on January 7 next, Khandu said that the joining was done in accordance to the Constitution.
Mr Khandu paraded the MLAs before Assembly Speaker Tenzing Norbu Thongdok who accepted their joining.
The high-voltage political drama began since late Thursday night after PPA President Kahfa Bengia temporarily suspended Mr Khandu, his deputy Chowna Mein and five legislators from the primary membership of the party for alleged anti-party activities.
The PPA, an alliance partner of the North East Democratic Alliance (NEDA) government in the state, yesterday selected Takam Pario as the new chief minister of the state.
The PPA today also suspended four other party MLAs including Honchun Ngandam, Bamang Felix, Punji Mara and Pani Taram.
"Lotus has finally bloomed in Arunachal. The people of the state will see a new dawn of development in the new year under the new government," Mr Khandu told reporters in the Assembly premises.
Elaborating on the decision to merge with the BJP, the chief minister said that circumstances compelled the MLAs to take the decision in the interest of the people and the state.
"After several years of Congress misrule we observed that there was no visible development in the state. We joined the PPA with the intention to take the state to progress and prosperity, but there too, we find similar condition where the party president treated the MLAs undemocratically.
"So with focus on development, our MLAs decided to join the BJP for overall progress of the state," the chief minister said.
Terming the decision of the PPA president to suspend the MLAs as "undemocratic," Mr Khandu said that before such a move the party leadership should have issued show cause notice to the MLAs.
"There was no significant development in the state since last year due to political turmoil, but now with NDA government at the Centre, the state will witness a sea change in the coming years," Mr Khandu said adding, "the decision to join the BJP is a blessing in disguise for the people and the state."
"Until and unless there is stability in the government, no development could take place. There will be no more dissident politics and we shall now only focus on development," Mr Khandu asserted.
When asked about the court case filed by Arunachal Pradesh Congress Committee (APCC) President Padi Richo against the joining of Congress MLAs with PPA which is pending with the Gauhati High court and which would be taken up on January 7 next, Khandu said that the joining was done in accordance to the Constitution.
Business Affairs
Patanjali Biggest Disruptive Force In FMCG Space: Report
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Patanjali Ayurved, the FMCG venture promoted by yoga guru Ramdev, was the biggest disruptive force in India's fast moving consumer goods (FMCG) market, according to a report.
"Patanjali Ayurved has turned out to be the most disruptive force in the Indian FMCG market...it witnessed a whopping annual growth of 146 per cent in fiscal year 2016 grossing a turnover of $769 million, whereas its peers including ITC, Dabur, Hindustan Unilever, Colgate-Palmolive and Procter & Gamble struggled to get a growth much less than double digit," said a Assocham-TechSci research report.
It further said: "Initially, the company focused only on the development of Ayurvedic medicines, but gradually started manufacturing food items and cosmetics...With around 500 products, many of them in FMCG category, the company has significantly increased its market share. Many of its product launches have impacted share of other FMCG companies in that product category."
According to the report, some of Patanjali Ayurved's brands which have eaten into the market share of established firms include Dant Kanti, Atta noodles and Kesh Kanti.
Acharya Bal Krishna, a close disciple of yoga guru Ramdev, owns close to 94 per cent Patanjali Ayurved. Rest of the small holdings are dispersed among a small group of individuals.
The paper said India is also emerging as a strong regional export hub for the domestic and multinational FMCG players leveraging the country's cost competitivenes.
In 2015, the total Indian FMCG market was $43 billion of which 60 per cent is concentrated in urban areas while the rest is in the rural areas.
"Patanjali Ayurved has turned out to be the most disruptive force in the Indian FMCG market...it witnessed a whopping annual growth of 146 per cent in fiscal year 2016 grossing a turnover of $769 million, whereas its peers including ITC, Dabur, Hindustan Unilever, Colgate-Palmolive and Procter & Gamble struggled to get a growth much less than double digit," said a Assocham-TechSci research report.
It further said: "Initially, the company focused only on the development of Ayurvedic medicines, but gradually started manufacturing food items and cosmetics...With around 500 products, many of them in FMCG category, the company has significantly increased its market share. Many of its product launches have impacted share of other FMCG companies in that product category."
According to the report, some of Patanjali Ayurved's brands which have eaten into the market share of established firms include Dant Kanti, Atta noodles and Kesh Kanti.
Acharya Bal Krishna, a close disciple of yoga guru Ramdev, owns close to 94 per cent Patanjali Ayurved. Rest of the small holdings are dispersed among a small group of individuals.
The paper said India is also emerging as a strong regional export hub for the domestic and multinational FMCG players leveraging the country's cost competitivenes.
In 2015, the total Indian FMCG market was $43 billion of which 60 per cent is concentrated in urban areas while the rest is in the rural areas.
PM Modi's 10 Key Economic Announcements In New Year Address
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Prime Minister Narendra Modi in his New Year's eve address announced some key measures to ease the hardship of small industries and farmers who have been hit hard by demonetisation. The Prime Minister also announced new housing schemes for the urban and rural poor.
Finance Minister Arun Jaitley said the PM's announcements will enhance economic activities.
Here are the 10 important announcements by PM Modi:
1) Micro and small enterprises will now get loans up to Rs 2 crore under the government's credit guarantee scheme. The earlier limit was Rs 1 crore. Under the credit guarantee scheme, banks extend collateral-free credit to the micro and small enterprise (MSME) sector. The guarantee is provided by the government.
2) Interest will be waived for farm loans taken from district cooperate banks and central government-owned banks for the first 60 days.
3) The government will provide Rs 20,000 crore to NABARD fund to give loans to farmers.
4) Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.
5) Banks have also been asked to increase working capital loans from 20 per cent of turnover to 30 per cent for enterprises that transact digitally.
6) The government would build 33 per cent more houses in villages under the 'Pradhan Mantri Grameen Awas Yojana'.
7) In 2017, villagers who want to renovate/extend their homes will get a 3 per cent subsidy/rebate on interest rates for loans up to Rs 2 lakh.
8) The urban poor will get 4 per cent rebate on home loans of up to Rs 9 lakh. Loans up to Rs 12 lakh will get an interest rate rebate of 3 per cent.
9) 3 crore farmers who have Kisan Credit Cards, will be given RuPay debit cards within three months. RuPay debit cards will do away with the need for farmers to go to the banks to withdraw money.
10) Senior citizens will now get an assured 8 per cent interest on their deposits up to Rs. 7.5 lakh for 10 years. The interest will be given on a monthly basis.
Finance Minister Arun Jaitley said the PM's announcements will enhance economic activities.
Here are the 10 important announcements by PM Modi:
1) Micro and small enterprises will now get loans up to Rs 2 crore under the government's credit guarantee scheme. The earlier limit was Rs 1 crore. Under the credit guarantee scheme, banks extend collateral-free credit to the micro and small enterprise (MSME) sector. The guarantee is provided by the government.
2) Interest will be waived for farm loans taken from district cooperate banks and central government-owned banks for the first 60 days.
3) The government will provide Rs 20,000 crore to NABARD fund to give loans to farmers.
4) Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.
5) Banks have also been asked to increase working capital loans from 20 per cent of turnover to 30 per cent for enterprises that transact digitally.
6) The government would build 33 per cent more houses in villages under the 'Pradhan Mantri Grameen Awas Yojana'.
7) In 2017, villagers who want to renovate/extend their homes will get a 3 per cent subsidy/rebate on interest rates for loans up to Rs 2 lakh.
8) The urban poor will get 4 per cent rebate on home loans of up to Rs 9 lakh. Loans up to Rs 12 lakh will get an interest rate rebate of 3 per cent.
9) 3 crore farmers who have Kisan Credit Cards, will be given RuPay debit cards within three months. RuPay debit cards will do away with the need for farmers to go to the banks to withdraw money.
10) Senior citizens will now get an assured 8 per cent interest on their deposits up to Rs. 7.5 lakh for 10 years. The interest will be given on a monthly basis.
At $15.2 Billion, 2016 Second-Biggest Year For Private Equity Investments
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Private equity investments in 2016 hit $15.2 billion, making it the second-most successful one after 2015 that saw deals worth $17.3 billion materialising, says a report.
According to Venture Intelligence, PE investors bet $15.2 billion across 620 deals in 2016 while in 2015, it was $17.3 billion across 775 transactions.
Moreover, 2016 was the biggest in terms of buyouts.
"PE investors have bet as much as $4.3 billion to acquire controlling stakes in 27 companies, the highest-ever tally for buyout deals in the country (surpassing the $3.2 billion across 24 companies in 2015)," the report said.
In the largest PE deal of the year (and the largest single PE investment in India till date), the publicly-listed Reliance Communications sold a 51 per cent stake in its tower assets unit Reliance Infratel to Canada's Brookfield Infrastructure Group for $1.65 billion (Rs. 11,000 crore).
Among other major deals, Blackstone bought out Hewlett Packard from its majority holding in listed IT Services and BPO firm Mphasis through an $1.1 billion deal while AION Capital partnered with former GE Capital executives Pramod Bhasin and Anil Chawla to take over the commercial lending business of GE Capital in India for $300 million.
Infrastructure investments - notably led by Canada-headquartered investors - dominated the list of big-ticket investments during 2016.
Canada's Brookfield committed $1.65 billion to buy a majority stake in telecom tower firm Reliance Infratel and pension fund CDPQ along with others invested $850 million in Tata Power's SPV Resurgent Power while Fairfax Holdings invested over $300 million each in Bangalore International Airport and Sanmar Chemicals.
IT and ITeS companies, which attracted $4.7 billion across 359 transactions in 2016, saw their share of the PE investment pie decline sharply to 31 per cent, from 45 per cent in 2015.
BFSI (Banking, Financial Services and Insurance) companies attracted over $2.7 billion across 53 transactions in 2016, the report said.
According to Venture Intelligence, PE investors bet $15.2 billion across 620 deals in 2016 while in 2015, it was $17.3 billion across 775 transactions.
Moreover, 2016 was the biggest in terms of buyouts.
"PE investors have bet as much as $4.3 billion to acquire controlling stakes in 27 companies, the highest-ever tally for buyout deals in the country (surpassing the $3.2 billion across 24 companies in 2015)," the report said.
In the largest PE deal of the year (and the largest single PE investment in India till date), the publicly-listed Reliance Communications sold a 51 per cent stake in its tower assets unit Reliance Infratel to Canada's Brookfield Infrastructure Group for $1.65 billion (Rs. 11,000 crore).
Among other major deals, Blackstone bought out Hewlett Packard from its majority holding in listed IT Services and BPO firm Mphasis through an $1.1 billion deal while AION Capital partnered with former GE Capital executives Pramod Bhasin and Anil Chawla to take over the commercial lending business of GE Capital in India for $300 million.
Infrastructure investments - notably led by Canada-headquartered investors - dominated the list of big-ticket investments during 2016.
Canada's Brookfield committed $1.65 billion to buy a majority stake in telecom tower firm Reliance Infratel and pension fund CDPQ along with others invested $850 million in Tata Power's SPV Resurgent Power while Fairfax Holdings invested over $300 million each in Bangalore International Airport and Sanmar Chemicals.
IT and ITeS companies, which attracted $4.7 billion across 359 transactions in 2016, saw their share of the PE investment pie decline sharply to 31 per cent, from 45 per cent in 2015.
BFSI (Banking, Financial Services and Insurance) companies attracted over $2.7 billion across 53 transactions in 2016, the report said.
RBI Relaxes ATM Daily Withdrawal Limit To Rs 4,500 From Rs 2,500
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Following expiry of the deadline to deposit demonetised currency in banks, the RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, with this facility, to be effective from January 1, coming as a new year gift to citizens.
"On a review of the position, the daily limit of withdrawal from ATMs has been increased with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card," the Reserve Bank of India said in a notification issued late on Friday.
The RBI further said "there is no change in weekly withdrawal limits", which remains at Rs 24,000.
The central bank also asked banks to ensure that disbursals on ATMs should predominantly be in the denomination of Rs 500.
As per data released by the RBI on December 21, it has supplied currency amounting to Rs 5.92 lakh crore till December 19, as against the Rs 15.4 lakh crore pulled out of the system through the demonetisation of high-value currency announced on November 8.
Following expiry of the deadline to deposit demonetised currency in banks, the RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, with this facility, to be effective from January 1, coming as a new year gift to citizens.
"On a review of the position, the daily limit of withdrawal from ATMs has been increased with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card," the Reserve Bank of India said in a notification issued late on Friday.
The RBI further said "there is no change in weekly withdrawal limits", which remains at Rs 24,000.
"On a review of the position, the daily limit of withdrawal from ATMs has been increased with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card," the Reserve Bank of India said in a notification issued late on Friday.
The RBI further said "there is no change in weekly withdrawal limits", which remains at Rs 24,000.
The central bank also asked banks to ensure that disbursals on ATMs should predominantly be in the denomination of Rs 500.
As per data released by the RBI on December 21, it has supplied currency amounting to Rs 5.92 lakh crore till December 19, as against the Rs 15.4 lakh crore pulled out of the system through the demonetisation of high-value currency announced on November 8.
PM's Announcements To Enhance Economic Activities: Arun Jaitley
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The slew of measures announced by Prime Minister Narendra Modi will enhance economic activities and pave way for "cleaner and bigger GDP", Finance Minister Arun Jaitley said on Saturday.
In a series of tweets, Mr Jaitley said: "PM's announcements will enable a cleaner & bigger GDP...PM's announcements will enhance economic activities."
Referring to the sops announced for different sectors, he said agriculture, MSME and housing segments will get a fillip. The finance minister, who will be presenting the Budget for 2017-18 in February, also said the government is committed to cleansing political funding.
On the announcement of fixed 8 per cent interest rate on 10-year deposits up to Rs 7.5 lakh for senior citizens, Mr Jaitley said it is "great news".
In his address to the nation, PM Modi said home loans in urban areas up to Rs 9 lakh and Rs 12 lakh will receive interest subvention of 4 per cent and 3 per cent, respectively. Also, in rural areas home loans up to Rs 2 lakh will get interest rebate of 3 per cent.
PM Modi also said government will bear a 60-day interest burden on farm loans taken for rabi crops and also doubled Nabard funding corpus to Rs 41,000 crore.
In a series of tweets, Mr Jaitley said: "PM's announcements will enable a cleaner & bigger GDP...PM's announcements will enhance economic activities."
Referring to the sops announced for different sectors, he said agriculture, MSME and housing segments will get a fillip. The finance minister, who will be presenting the Budget for 2017-18 in February, also said the government is committed to cleansing political funding.
On the announcement of fixed 8 per cent interest rate on 10-year deposits up to Rs 7.5 lakh for senior citizens, Mr Jaitley said it is "great news".
In his address to the nation, PM Modi said home loans in urban areas up to Rs 9 lakh and Rs 12 lakh will receive interest subvention of 4 per cent and 3 per cent, respectively. Also, in rural areas home loans up to Rs 2 lakh will get interest rebate of 3 per cent.
PM Modi also said government will bear a 60-day interest burden on farm loans taken for rabi crops and also doubled Nabard funding corpus to Rs 41,000 crore.
General Awareness
List of Museums in India
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A museum is a place where we store and exhibits the objects of historical ,scientific,artistic and cultural areas.The given below list contains the state wise list of museums in India .Andaman and Nicobar Islands
Name Location Anthropological Museum Port Blair Samudrika (Naval Marine Museum) Delanipur
Andhra Pradesh
Name Location Bhagwan Mahavir Government Museum Kadapa INS Kursura Visakhapatnam Victoria Jubilee Museum Vijayawada Visakha Museum(Visakhapatnam Municipal Corporation Museum) Visakhapatnam Salar Jung Museum Darushifa Birla Science Museum Hyderabad Nizam Museum Hyderabad AP State Archaeology Museum or Hyderabad Museum Hyderabad
Arunachal Pradesh
Name Location Jawaharlal Nehru Museum Itanagar
Assam
Name Location Assam State Museum, Guwahati Mayong Central Museum and Emporium Mayong Srimanta Sankaradeva Kalakshetra Guwahati
Bihar
Name Location Patna Museum Patna Bihar Museum Patna Gandhi Smriti Sangrahalaya Bhitiharwa Gaya Museum Gaya Maharaja Lakshmeshwar Singh Museum Darbhanga Chandra Shekhar Singh Museum Jamui Srikrishna Science Centre Patna Bihar Police Museum Patna Rajendra Smriti Sangrahalaya (Rajendra Memorial Museum) Patna
Chandigarh
Name Location Government Museum and Art Gallery Chandigarh International Dolls Museum Chandigarh Museum of Evolution of Life Chandigarh
National Capital Territory of Delhi
Name Location Indian Air Force Museum Palam, Delhi Eternal Gandhi Multimedia Museum New Delhi National Gandhi Museum New Delhi National Gallery of Modern Art New Delhi National Handicrafts and Handlooms Museum New Delhi National Museum New Delhi National Museum of Natural History New Delhi National Rail Museum New Delhi National Science Centre Delhi Nehru Memorial Museum & Library New Delhi Parliament Museum New Delhi Teen Murti Bhavan New Delhi Sanskriti Kendra Museum Delhi Shankar’s International Dolls Museum Delhi
Goa
Name Location Goa Chitra Museum Benaulim Goa Science Centre Panaji Goa State Museum Panaji Naval Aviation Museum Vasco da Gama
Gujarat
Name Location Baroda Museum & Picture Gallery Vadodara Calico Museum of Textiles Ahmedabad Gandhi Smarak Sangrahalaya Ahmedabad Gujarat Science City Ahmedabad Lalbhai Dalpatbhai Museum Ahmedabad Kaba Gandhi No Delo Rajkot Kirti Mandir Porbandar Kutch Museum Bhuj Maharaja Fateh Singh Museum Vadodara Sabarmati Ashram Ahmedabad Sanskar Kendra Ahmedabad Sardar Vallabhbhai Patel National Memorial Ahmedabad Swaminarayan Museum Ahmedabad Watson Museum Rajkot
Haryana
Name Location Dharohar Museum Kurukshetra University
Himachal Pradesh
Name Location Library of Tibetan Works and Archives Dharamsala Shivalik Fossil Park Saketi
Jammu and Kashmir
Name Location Munshi Aziz Bhat Museum of Central Asian and Kargil Trade Artifacts Kargil Dogra Art Museum Jammu
Jharkhand
Name Location Ranchi Science Centre Ranchi State Museum Jharkhand
Karnataka
Name Location Government Museum Bangalore Kempegowda Museum Bangalore Visvesvaraya Industrial and Technological Museum Bangalore HAL heritage and Aerospace Museum Bangalore Law Museum Bangalore Regional Museum of Natural History Mysore Folklore Museum Mysore Jayachamarajendra Museum Mysore Mysore Rail Museum Mysore Government Museum(Shivappa Nayaka Palace) Shivamogga
Kerala
Name Location Arakkal Museum Ayikkara Teak Museum Nilambur Sardar Vallabhbhai Patel Police Museum Kollam Krishnapuram Palace Kayamkulam Indo-Portuguese Museum Kochi Vallathol Museum, Thrissur Thrissur Mural Art Museum Thrissur Archaeological Museum, Thrissur Thrissur Vaidyaratnam Ayurveda Museum Thrissur Indian Business Museum Kozhikode Kerala Soil Museum Thiruvananthapuram Napier Museum Thiruvananthapuram Pazhassi Raja Archaeological Museum Kozhikode Wayanad Heritage Museum Ambalavayal Hill Palace Thrippunithura
Madhya Pradesh
Name Type Bharat Bhavan Bhopal Regional Science Centre Bhopal Remember Bhopal Museum Bhopal Central Museum Indore Indira Gandhi Rashtriya Manav Sangrahalaya Bhopal Maharaja Chhatrasal Museum Dhubela Rani Durgavati Museum Jabalpur
Maharashtra
Name Location Prince of Wales Museum (Chhatrapati Shivaji Maharaj Vastu Sangrahalaya) Mumbai National Gallery of Modern Art Mumbai Nehru Planetarium Mumbai Nehru Science Center Mumbai Ballard Bunder Gatehouse Mumbai Bhau Daji Lad Museum Mumbai Cavalry Tank Museum Ahmednagar Coin Museum Nasik Cowasji Jehangir Hall Mumbai Darshan Museum Pune Joshi’s Museum of Miniature Railway Pune Mahatma Phule Museum Pune Mani Bhavan Mumbai Nagpur Central Museum Nagpur Raja Dinkar Kelkar Museum Pune Raman Science Centre Nagpur National Maritime Museum Mumbai Shree Chhatrapati Shahu Museum Kolhapur Siddhagiri Gramjivan Museum (Kaneri Math), Kolhapur Kolhapur
Manipur
Name Location Manipur State Museum Imphal Sekta Archaeological Living Museum Imphal
Mizoram
Name Location Mizoram State Museum Aizawl
Odisha
Name Location Odisha State Museum Bhubaneswar Regional Museum of Natural History Bhubaneswar, Odisha
Punjab
Name Location Netaji Subhas National Institute of Sports( National Institute of Sports) Patiala Sanghol Museum Sanghol Sikh Ajaibghar Balongi
Rajasthan
Name Location City Palace Museum Jaipur Albert Hall Museum Jaipur Archaeological Museum – Amer Jaipur Govt. Museum , Ajmer Bharatiya Lok Kala Museum, Udaipur Govt. Museum,Bharatpur Bharatpur Govt. Museum, Alwar Govt. Museum Jodhpur Mehrangarh Museum Jodhpur Umaid Bhavan Palace Museum Jodhpur
Sikkim
Name Location Namgyal Institute of Tibetology, Gangtok
Tamil Nadu
Name Location Gandhi Memorial Museum Madurai Gass Forest Museum Coimbatore Government Museum(Madras Museum) Chennai Government Museum Karur Government Museum Cuddalore Government Museum Pudukkottai Mahakavi Bharathi Memorial Library Erode Regional Railway Museum Chennai Railway Heritage Centre Tiruchirappalli Government Museum Tiruchirappalli
Telangana
Name Location Alampur Museum, Alampur Mahbubnagar AP State Archeology Museum(Hyderabad Museum) Hyderabad Birla Science Museum Hyderabad Salar Jung Museum Darushifa
Tripura
Name Location Tripura Government Museum ,Agartala
Uttar Pradesh
Name Location Allahabad Museum Allahabad Kanpur Sangrahalaya(Kanpur Museum) Kanpur Government Museum(Mathura museum) Mathura Sarnath Museum Varanasi Jhansi Museum Jhansi Anand Bhavan Allahabad
West Bengal
Name Location Birla Industrial & Technological Museum Kolkata Gurusaday Museum Kolkata Indian Museum Kolkata Malda Museum English Bazar Rabindra Museum Kalimpong National Museum Kolkata Netaji Museum Kolkata Victoria Memorial Hall
A museum is a place where we store and exhibits the objects of historical ,scientific,artistic and cultural areas.The given below list contains the state wise list of museums in India .Andaman and Nicobar Islands
| Name | Location |
| Anthropological Museum | Port Blair |
| Samudrika (Naval Marine Museum) | Delanipur |
Andhra Pradesh
| Name | Location |
| Bhagwan Mahavir Government Museum | Kadapa |
| INS Kursura | Visakhapatnam |
| Victoria Jubilee Museum | Vijayawada |
| Visakha Museum(Visakhapatnam Municipal Corporation Museum) | Visakhapatnam |
| Salar Jung Museum | Darushifa |
| Birla Science Museum | Hyderabad |
| Nizam Museum | Hyderabad |
| AP State Archaeology Museum or Hyderabad Museum | Hyderabad |
Arunachal Pradesh
| Name | Location |
| Jawaharlal Nehru Museum | Itanagar |
Assam
| Name | Location |
| Assam State Museum, | Guwahati |
| Mayong Central Museum and Emporium | Mayong |
| Srimanta Sankaradeva Kalakshetra | Guwahati |
Bihar
| Name | Location |
| Patna Museum | Patna |
| Bihar Museum | Patna |
| Gandhi Smriti Sangrahalaya | Bhitiharwa |
| Gaya Museum | Gaya |
| Maharaja Lakshmeshwar Singh Museum | Darbhanga |
| Chandra Shekhar Singh Museum | Jamui |
| Srikrishna Science Centre | Patna |
| Bihar Police Museum | Patna |
| Rajendra Smriti Sangrahalaya (Rajendra Memorial Museum) | Patna |
Chandigarh
| Name | Location |
| Government Museum and Art Gallery | Chandigarh |
| International Dolls Museum | Chandigarh |
| Museum of Evolution of Life | Chandigarh |
National Capital Territory of Delhi
| Name | Location |
| Indian Air Force Museum | Palam, Delhi |
| Eternal Gandhi Multimedia Museum | New Delhi |
| National Gandhi Museum | New Delhi |
| National Gallery of Modern Art | New Delhi |
| National Handicrafts and Handlooms Museum | New Delhi |
| National Museum | New Delhi |
| National Museum of Natural History | New Delhi |
| National Rail Museum | New Delhi |
| National Science Centre | Delhi |
| Nehru Memorial Museum & Library | New Delhi |
| Parliament Museum | New Delhi |
| Teen Murti Bhavan | New Delhi |
| Sanskriti Kendra Museum | Delhi |
| Shankar’s International Dolls Museum | Delhi |
Goa
| Name | Location |
| Goa Chitra Museum | Benaulim |
| Goa Science Centre | Panaji |
| Goa State Museum | Panaji |
| Naval Aviation Museum | Vasco da Gama |
Gujarat
| Name | Location |
| Baroda Museum & Picture Gallery | Vadodara |
| Calico Museum of Textiles | Ahmedabad |
| Gandhi Smarak Sangrahalaya | Ahmedabad |
| Gujarat Science City | Ahmedabad |
| Lalbhai Dalpatbhai Museum | Ahmedabad |
| Kaba Gandhi No Delo | Rajkot |
| Kirti Mandir | Porbandar |
| Kutch Museum | Bhuj |
| Maharaja Fateh Singh Museum | Vadodara |
| Sabarmati Ashram | Ahmedabad |
| Sanskar Kendra | Ahmedabad |
| Sardar Vallabhbhai Patel National Memorial | Ahmedabad |
| Swaminarayan Museum | Ahmedabad |
| Watson Museum | Rajkot |
Haryana
| Name | Location |
| Dharohar Museum | Kurukshetra University |
Himachal Pradesh
| Name | Location |
| Library of Tibetan Works and Archives | Dharamsala |
| Shivalik Fossil Park | Saketi |
Jammu and Kashmir
| Name | Location |
| Munshi Aziz Bhat Museum of Central Asian and Kargil Trade Artifacts | Kargil |
| Dogra Art Museum | Jammu |
Jharkhand
| Name | Location |
| Ranchi Science Centre | Ranchi |
| State Museum | Jharkhand |
Karnataka
| Name | Location |
| Government Museum | Bangalore |
| Kempegowda Museum | Bangalore |
| Visvesvaraya Industrial and Technological Museum | Bangalore |
| HAL heritage and Aerospace Museum | Bangalore |
| Law Museum | Bangalore |
| Regional Museum of Natural History | Mysore |
| Folklore Museum | Mysore |
| Jayachamarajendra Museum | Mysore |
| Mysore Rail Museum | Mysore |
| Government Museum(Shivappa Nayaka Palace) | Shivamogga |
Kerala
| Name | Location |
| Arakkal Museum | Ayikkara |
| Teak Museum | Nilambur |
| Sardar Vallabhbhai Patel Police Museum | Kollam |
| Krishnapuram Palace | Kayamkulam |
| Indo-Portuguese Museum | Kochi |
| Vallathol Museum, Thrissur | Thrissur |
| Mural Art Museum | Thrissur |
| Archaeological Museum, Thrissur | Thrissur |
| Vaidyaratnam Ayurveda Museum | Thrissur |
| Indian Business Museum | Kozhikode |
| Kerala Soil Museum | Thiruvananthapuram |
| Napier Museum | Thiruvananthapuram |
| Pazhassi Raja Archaeological Museum | Kozhikode |
| Wayanad Heritage Museum | Ambalavayal |
| Hill Palace | Thrippunithura |
Madhya Pradesh
| Name | Type |
| Bharat Bhavan | Bhopal |
| Regional Science Centre | Bhopal |
| Remember Bhopal Museum | Bhopal |
| Central Museum | Indore |
| Indira Gandhi Rashtriya Manav Sangrahalaya | Bhopal |
| Maharaja Chhatrasal Museum | Dhubela |
| Rani Durgavati Museum | Jabalpur |
Maharashtra
| Name | Location |
| Prince of Wales Museum (Chhatrapati Shivaji Maharaj Vastu Sangrahalaya) | Mumbai |
| National Gallery of Modern Art | Mumbai |
| Nehru Planetarium | Mumbai |
| Nehru Science Center | Mumbai |
| Ballard Bunder Gatehouse | Mumbai |
| Bhau Daji Lad Museum | Mumbai |
| Cavalry Tank Museum | Ahmednagar |
| Coin Museum | Nasik |
| Cowasji Jehangir Hall | Mumbai |
| Darshan Museum | Pune |
| Joshi’s Museum of Miniature Railway | Pune |
| Mahatma Phule Museum | Pune |
| Mani Bhavan | Mumbai |
| Nagpur Central Museum | Nagpur |
| Raja Dinkar Kelkar Museum | Pune |
| Raman Science Centre | Nagpur |
| National Maritime Museum | Mumbai |
| Shree Chhatrapati Shahu Museum | Kolhapur |
| Siddhagiri Gramjivan Museum (Kaneri Math), Kolhapur | Kolhapur |
Manipur
| Name | Location |
| Manipur State Museum | Imphal |
| Sekta Archaeological Living Museum | Imphal |
Mizoram
| Name | Location |
| Mizoram State Museum | Aizawl |
Odisha
| Name | Location |
| Odisha State Museum | Bhubaneswar |
| Regional Museum of Natural History | Bhubaneswar, Odisha |
Punjab
| Name | Location |
| Netaji Subhas National Institute of Sports( National Institute of Sports) | Patiala |
| Sanghol Museum | Sanghol |
| Sikh Ajaibghar | Balongi |
Rajasthan
| Name | Location |
| City Palace Museum | Jaipur |
| Albert Hall Museum | Jaipur |
| Archaeological Museum – Amer | Jaipur |
| Govt. Museum , | Ajmer |
| Bharatiya Lok Kala Museum, | Udaipur |
| Govt. Museum,Bharatpur | Bharatpur |
| Govt. Museum, | Alwar |
| Govt. Museum | Jodhpur |
| Mehrangarh Museum | Jodhpur |
| Umaid Bhavan Palace Museum | Jodhpur |
Sikkim
| Name | Location |
| Namgyal Institute of Tibetology, | Gangtok |
Tamil Nadu
| Name | Location |
| Gandhi Memorial Museum | Madurai |
| Gass Forest Museum | Coimbatore |
| Government Museum(Madras Museum) | Chennai |
| Government Museum | Karur |
| Government Museum | Cuddalore |
| Government Museum | Pudukkottai |
| Mahakavi Bharathi Memorial Library | Erode |
| Regional Railway Museum | Chennai |
| Railway Heritage Centre | Tiruchirappalli |
| Government Museum | Tiruchirappalli |
Telangana
| Name | Location |
| Alampur Museum, Alampur | Mahbubnagar |
| AP State Archeology Museum(Hyderabad Museum) | Hyderabad |
| Birla Science Museum | Hyderabad |
| Salar Jung Museum | Darushifa |
Tripura
| Name | Location |
| Tripura Government Museum | ,Agartala |
Uttar Pradesh
| Name | Location |
| Allahabad Museum | Allahabad |
| Kanpur Sangrahalaya(Kanpur Museum) | Kanpur |
| Government Museum(Mathura museum) | Mathura |
| Sarnath Museum | Varanasi |
| Jhansi Museum | Jhansi |
| Anand Bhavan | Allahabad |
West Bengal
| Name | Location |
| Birla Industrial & Technological Museum | Kolkata |
| Gurusaday Museum | Kolkata |
| Indian Museum | Kolkata |
| Malda Museum | English Bazar |
| Rabindra Museum | Kalimpong |
| National Museum | Kolkata |
| Netaji Museum | Kolkata |
| Victoria Memorial Hall |
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