General Affairs
India Can Be Among World Top 3 In Science And Technology: PM Modi
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India can be among the top three countries in the world when it comes to science and technology by 2030, Prime Minister Narendra Modi told 11,000 scientists today at the 104th session of the Indian Science Congress at Tirupati in Andhra Pradesh, where he received a rockstar welcome.
But for scientists to prosper, they needed to get out of deep-rooted silos' he added. Taking a shot at the entrenched bureaucracy that runs in the Indian scientific scene, the Prime Minister said "If we want science to deliver, we must not constrain it."
"Our ministries, our scientists, R&D institutions, industries, start-ups, universities and IITs, all should work together seamlessly. In particular, our infrastructure and socio-economic ministries must make appropriate use of science and technology," he said.
By 2030 India will also be among the most attractive destinations for the best talent in the world, PM Modi said. "The wheels we set in motion today will achieve this goal," he said.
Possibly with an eye on the cashless society that he champions, PM Modi said, "We need to develop an Inter-Ministerial National Mission in the Cyber-Physical Systems to secure our future by creation of basic R&D infrastructure, manpower and skills."
PM Modi, also said scientists need to keep an eye on the rise of disruptive technologies and be prepared to leverage them for growth.
In his 25-minute speech, PM Modi felt there was huge opportunity by research, training and skilling in robotics, artificial intelligence, digital manufacturing, big data analysis, deep learning, quantum communication and internet-of-things.
"I am sure that our scientists will further meet the challenges of enhanced quality of basic research, its technology translation and its societal connect. Let Science and Technology become a strong tool of inclusive development and betterment of the weakest and poorest segments of our society," he said.
But for scientists to prosper, they needed to get out of deep-rooted silos' he added. Taking a shot at the entrenched bureaucracy that runs in the Indian scientific scene, the Prime Minister said "If we want science to deliver, we must not constrain it."
By 2030 India will also be among the most attractive destinations for the best talent in the world, PM Modi said. "The wheels we set in motion today will achieve this goal," he said.
PM Modi, also said scientists need to keep an eye on the rise of disruptive technologies and be prepared to leverage them for growth.
In his 25-minute speech, PM Modi felt there was huge opportunity by research, training and skilling in robotics, artificial intelligence, digital manufacturing, big data analysis, deep learning, quantum communication and internet-of-things.
"I am sure that our scientists will further meet the challenges of enhanced quality of basic research, its technology translation and its societal connect. Let Science and Technology become a strong tool of inclusive development and betterment of the weakest and poorest segments of our society," he said.
Mobile Phone Makers Get 2-Month Extension For Panic Button
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The government has extended the deadline by two months for mobile phone manufacturers to implement the panic button feature in new handsets.
"On the request of mobile device manufacturers, we have extended the period for implementing panic button in new handsets by two months ... the players had made a request saying they have unsold inventory of mobile phones without the panic button ... so we have given them an extension till February 28," Telecom Secretary J S Deepak said.
The government in April 2016 mandated that all mobile phones in the country from January 1, 2017, will be sold with panic button feature.
As per the order, pressing the panic button will make a call to single emergency number 112.
"The mobile phone makers have taken up the task to enable more than 2 crore phones every month with panic button very seriously. The industry is completely ready. There is a minor aberration because of demonetisation which will be corrected in next 1-2 months," industry body ICA National President Pankaj Mohindroo said.
Also, the government has mandated that from January 1, 2018, no mobile handset manufacturer shall sell a new device in India without the facility of identifying the location through satellite-based GPS.
The concept of a device with panic button feature was floated after brutal gangrape of a paramedical student in Delhi. The Ministry of Finance approved a Nirbhaya Fund following the incident, under which integration of the police administration with mobile phone network to trace and respond to distress calls with minimum response time, was to be done.
Meanwhile, the trial run of ambitious helpline 112, that will be India's equivalent to 911 of the US's all-in-one emergency services, has been halted owing to numerous blank calls that were being received on the number, according to a senior police officer.
"On the request of mobile device manufacturers, we have extended the period for implementing panic button in new handsets by two months ... the players had made a request saying they have unsold inventory of mobile phones without the panic button ... so we have given them an extension till February 28," Telecom Secretary J S Deepak said.
As per the order, pressing the panic button will make a call to single emergency number 112.
Also, the government has mandated that from January 1, 2018, no mobile handset manufacturer shall sell a new device in India without the facility of identifying the location through satellite-based GPS.
The concept of a device with panic button feature was floated after brutal gangrape of a paramedical student in Delhi. The Ministry of Finance approved a Nirbhaya Fund following the incident, under which integration of the police administration with mobile phone network to trace and respond to distress calls with minimum response time, was to be done.
Meanwhile, the trial run of ambitious helpline 112, that will be India's equivalent to 911 of the US's all-in-one emergency services, has been halted owing to numerous blank calls that were being received on the number, according to a senior police officer.
Hopeful China Would Agree On Getting Masood Azhar Designated As Terrorist By UN: Rajnath Singh
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India is hopeful that China will agree with its position on getting Jaish-e-Mohammed chief Masood Azhar designated as a terrorist by the United Nations, Home Minister Rajnath Singh said today. Interacting with the media in Delhi, Mr Singh said, "We still expect China to support our stand."
On December 30 last year, China had blocked India's proposal to list JeM chief and Pathankot mastermind Masood Azhar as a designated terrorist by the UN, triggering a sharp reaction from New Delhi which termed it as "unfortunate blow" and a step that confirms prevalence of double standards in the fight against terrorism.
India's proposal was submitted in February to the 1267 Sanctions Committee of the UN Security Council.
A fresh listing request will be required for Azhar to be banned by the UN, officials had said.
However, India had said it will continue to push forward with resolute determination "through the use of all options available with us to bring perpetrators of terrorist violence to justice".
China had blocked India's proposal citing lack of "consensus" on the issue.
The ban would have forced imposition of asset freeze and travel ban on him by countries, including Pakistan.
China was the only member in the 15-nation UN body to put a hold on India's application with all other 14 members of the Council supporting New Delhi's bid to place Azhar on the sanctions list.
On December 30 last year, China had blocked India's proposal to list JeM chief and Pathankot mastermind Masood Azhar as a designated terrorist by the UN, triggering a sharp reaction from New Delhi which termed it as "unfortunate blow" and a step that confirms prevalence of double standards in the fight against terrorism.
A fresh listing request will be required for Azhar to be banned by the UN, officials had said.
China had blocked India's proposal citing lack of "consensus" on the issue.
The ban would have forced imposition of asset freeze and travel ban on him by countries, including Pakistan.
China was the only member in the 15-nation UN body to put a hold on India's application with all other 14 members of the Council supporting New Delhi's bid to place Azhar on the sanctions list.
High Court To Hear CBI's Plea Against Bail To SP Tyagi In VVIP Chopper Scam Case
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CBI's petition challenging the bail granted to former IAF chief SP Tyagi in AgustaWestland chopper scam case on the ground that he could allegedly "hamper" the probe will be heard on January 9, the Delhi High Court today said.
The plea filed by the probe agency came up before Justice IS Mehta, who fixed it for hearing on next Monday after Mr Tyagi's counsel said they would file a reply on the petition.
Additional Solicitor General Tushar Mehta, appearing for the CBI, told the court that their plea challenges the bail granted by a trial court to Mr Tyagi on December 26.
"This is a petition challenging grant of bail. On the last date, the high court had issued notice on the petition and had observed that today the endeavour will be to finish the matter. There is some urgency," Mehta told the court.
To this, the court said, "renotify the matter for Monday for reply, if any, and disposal".
On December 30, the high court had sought Tyagi's response on CBI's plea challenging his bail in the case. The agency had alleged that he could "hamper" its probe and "alert" other accused if he remained out of custody.
71-year old Tyagi, who was arrested by CBI on December 9 along with Sanjeev Tyagi and lawyer Gautam Khaitan in the case relating to alleged irregularities in procurement of 12 VVIP choppers from UK-based AgustaWestland during the UPA-2 regime, was granted bail by a trial court on December 26.
During the earlier hearing, the agency had claimed in the high court that if Mr Tyagi remained out on bail, he could "alert other potential accused".
The agency had also said that its probe was "multi-layered" as it was spread across several countries since various companies were allegedly used to "camouflage the bribe money".
CBI had admitted before the high court that though FIR was registered in 2013, the "real core investigation started only a few months back" and therefore, it did not want Mr Tyagi to be out on bail till the charge sheet is filed.
A trial court had granted bail to Tyagi, who had retired as IAF chief in 2007, saying CBI has failed to state the alleged bribe amount and when it was paid.
While granting the relief, the trial court also took note of Mr Tyagi's advancing age and his health conditions and said no purpose would be served by keeping him behind the bars.
CBI had earlier argued before the trial court that Mr Tyagi had allegedly "abused his official position" and during his tenure as the air chief, he had made huge investments in land and other properties and not disclosed the source of his income.
The plea filed by the probe agency came up before Justice IS Mehta, who fixed it for hearing on next Monday after Mr Tyagi's counsel said they would file a reply on the petition.
Additional Solicitor General Tushar Mehta, appearing for the CBI, told the court that their plea challenges the bail granted by a trial court to Mr Tyagi on December 26.
"This is a petition challenging grant of bail. On the last date, the high court had issued notice on the petition and had observed that today the endeavour will be to finish the matter. There is some urgency," Mehta told the court.
To this, the court said, "renotify the matter for Monday for reply, if any, and disposal".
71-year old Tyagi, who was arrested by CBI on December 9 along with Sanjeev Tyagi and lawyer Gautam Khaitan in the case relating to alleged irregularities in procurement of 12 VVIP choppers from UK-based AgustaWestland during the UPA-2 regime, was granted bail by a trial court on December 26.
During the earlier hearing, the agency had claimed in the high court that if Mr Tyagi remained out on bail, he could "alert other potential accused".
The agency had also said that its probe was "multi-layered" as it was spread across several countries since various companies were allegedly used to "camouflage the bribe money".
CBI had admitted before the high court that though FIR was registered in 2013, the "real core investigation started only a few months back" and therefore, it did not want Mr Tyagi to be out on bail till the charge sheet is filed.
A trial court had granted bail to Tyagi, who had retired as IAF chief in 2007, saying CBI has failed to state the alleged bribe amount and when it was paid.
While granting the relief, the trial court also took note of Mr Tyagi's advancing age and his health conditions and said no purpose would be served by keeping him behind the bars.
CBI had earlier argued before the trial court that Mr Tyagi had allegedly "abused his official position" and during his tenure as the air chief, he had made huge investments in land and other properties and not disclosed the source of his income.
Sealdah-Ajmer Express Derailment: 4 Railway Officials Suspended
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Railways today suspended four officials for alleged laxity in connection with the
derailment of the Sealdah-Ajmer Express on December 28.
The action was taken against the Rura station in-charge on duty Mahesh Kumar Vaishya, traffic inspector Dharm Singh Meena, senior section engineer SK Verma and RP Singh by the North-Central Railway after a departmental inquiry, Chief Public Relations Officer Vijay Kumar said.
Meanhwile, a separate probe into the incident is being carried out by the Commissioner of Railway Safety (Northern Region), Shailesh Kumar Pathak, who is expected to submit his report to the ministry within a month.
Mr Pathak had visited the accident spot and Kanpur on December 30 and 31 where he recorded the statements of railway officials, the CPRO said.
Fifteen coaches of the Sealdah-Ajmer Express derailed in Kanpur Rural district, injuring at least 62 passengers.The accident took place near Rura Railway Station, when the train was crossing a bridge over a dry canal in the area."
The action was taken against the Rura station in-charge on duty Mahesh Kumar Vaishya, traffic inspector Dharm Singh Meena, senior section engineer SK Verma and RP Singh by the North-Central Railway after a departmental inquiry, Chief Public Relations Officer Vijay Kumar said.
Meanhwile, a separate probe into the incident is being carried out by the Commissioner of Railway Safety (Northern Region), Shailesh Kumar Pathak, who is expected to submit his report to the ministry within a month.
Mr Pathak had visited the accident spot and Kanpur on December 30 and 31 where he recorded the statements of railway officials, the CPRO said.
Fifteen coaches of the Sealdah-Ajmer Express derailed in Kanpur Rural district, injuring at least 62 passengers.The accident took place near Rura Railway Station, when the train was crossing a bridge over a dry canal in the area."
Business Affairs
PM Modi's New Year Sops To Cost Government Rs 3,500 Crore Annually: SBI
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The government will have to make an additional budgetary provision to the tune of Rs 3,500 crore to pay for the slew of welfare measures announced by Prime Minister Narendra Modi for the poor, pregnant women and farmers on the eve of the New Year, says a report.
"The overall fiscal impact of all these measures announced by the PM on December 31, will be around Rs 3,500 crore per year, which is minimal compared to the social and economic benefits," SBI Research said in a note on Tuesday.
PM Modi announced a slew of schemes for multiple beneficiaries last Saturday, in a bid to soften the blow of demonetisation drive between November 8 and December 30.
In what looked like a mini-Budget speech, PM Modi announced interest subventions for agricultural loans, financial assistance of Rs 6,000 for pregnant women and an increase in the number of houses being built for poor by a third, among others.
The note said the interest subvention on agri loans will result in a fiscal burden of Rs 1,300 crore, schemes for women and children will be a fiscal drag of another Rs 1,200 crore and the benefits under the PM Awas Yojana will cost Rs 1,000 crore to Exchequer.
PM Modi had announced loans of up to Rs 9 lakh taken in the new year under two new scheme -- Pradhan Mantri Awas Yojana -- will receive interest subvention of 4 per cent and loan of upto Rs 12 lakh will get a 3 per cent interest waiver.
For rural areas, the number of houses being built for poor will be increased by 33 per cent. In addition, another scheme is being put in place for the neo-middle and middle-class in rural areas where loans up to Rs 2 lakh for new housing loans or extension will receive an interest subvention of 3 per cent.
Farmers will get 60 days interest waiver on crop loans taken for the Rabi sowing and those who have already paid will get back the money into their accounts to the tune of the 3 per cent interest waiver.
They will get even better access to loans from cooperative societies with the government adding Rs 20,000 crore to the Rs 21,000 crore fund created by Nabard last month.
"The overall fiscal impact of all these measures announced by the PM on December 31, will be around Rs 3,500 crore per year, which is minimal compared to the social and economic benefits," SBI Research said in a note on Tuesday.
PM Modi announced a slew of schemes for multiple beneficiaries last Saturday, in a bid to soften the blow of demonetisation drive between November 8 and December 30.
In what looked like a mini-Budget speech, PM Modi announced interest subventions for agricultural loans, financial assistance of Rs 6,000 for pregnant women and an increase in the number of houses being built for poor by a third, among others.
The note said the interest subvention on agri loans will result in a fiscal burden of Rs 1,300 crore, schemes for women and children will be a fiscal drag of another Rs 1,200 crore and the benefits under the PM Awas Yojana will cost Rs 1,000 crore to Exchequer.
PM Modi had announced loans of up to Rs 9 lakh taken in the new year under two new scheme -- Pradhan Mantri Awas Yojana -- will receive interest subvention of 4 per cent and loan of upto Rs 12 lakh will get a 3 per cent interest waiver.
For rural areas, the number of houses being built for poor will be increased by 33 per cent. In addition, another scheme is being put in place for the neo-middle and middle-class in rural areas where loans up to Rs 2 lakh for new housing loans or extension will receive an interest subvention of 3 per cent.
Farmers will get 60 days interest waiver on crop loans taken for the Rabi sowing and those who have already paid will get back the money into their accounts to the tune of the 3 per cent interest waiver.
They will get even better access to loans from cooperative societies with the government adding Rs 20,000 crore to the Rs 21,000 crore fund created by Nabard last month.
Infosys, Wipro Leaders Warn of Challenging Times for Indian IT
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The leaders of two of India's largest technology services companies, Infosys Ltd. and Wipro Ltd., have warned employees that their industry faced a grave threat from rising political and economic conflict around the world.
Employees need to innovate and bring out their best to survive, Infosys Chief Executive Officer Vishal Sikka said in a year-end note to staff. In a separate memo, Wipro Chairman Azim Premji identified recent political and social developments as a huge risk to a globalized industry like IT services, though he didn't mention specific issues.
Asia's largest providers of IT services, which include leader Tata Consultancy Services Ltd., have lost business as their corporate customers reined in spending. They've been buffeted by macroeconomic swings in the two largest markets of Britain and the U.S., together accounting for about four-fifths of revenues in India's $108-billion IT services export industry. Britain's planned exit from the European Union cast uncertainty over the outlook for IT spending, while U.S. President-elect Donald Trump has threatened to choke the flow of overseas workers Wipro and Infosys rely on.
After years of stupendous growth, India's IT industry trade body Nasscom in November cut its revenue forecast for the current year.
"At a time when the world around us seems ever more influenced by the baser instincts and tendencies, we must bring the best of our intentions, and the best of our imagination, our knowledge and our conviction, to all that we do," Sikka wrote.
Premji said 2016 raised questions and obstacles which could not be ignored.
"These questions have arisen from developments in the political arena, from the fast-unfolding environmental crisis and from forces that want to shape the world into a place of exclusion, conflict and suspicion," Premji said in his memo.
Employees need to innovate and bring out their best to survive, Infosys Chief Executive Officer Vishal Sikka said in a year-end note to staff. In a separate memo, Wipro Chairman Azim Premji identified recent political and social developments as a huge risk to a globalized industry like IT services, though he didn't mention specific issues.
Asia's largest providers of IT services, which include leader Tata Consultancy Services Ltd., have lost business as their corporate customers reined in spending. They've been buffeted by macroeconomic swings in the two largest markets of Britain and the U.S., together accounting for about four-fifths of revenues in India's $108-billion IT services export industry. Britain's planned exit from the European Union cast uncertainty over the outlook for IT spending, while U.S. President-elect Donald Trump has threatened to choke the flow of overseas workers Wipro and Infosys rely on.
After years of stupendous growth, India's IT industry trade body Nasscom in November cut its revenue forecast for the current year.
"At a time when the world around us seems ever more influenced by the baser instincts and tendencies, we must bring the best of our intentions, and the best of our imagination, our knowledge and our conviction, to all that we do," Sikka wrote.
Premji said 2016 raised questions and obstacles which could not be ignored.
"These questions have arisen from developments in the political arena, from the fast-unfolding environmental crisis and from forces that want to shape the world into a place of exclusion, conflict and suspicion," Premji said in his memo.
Get Rs. 5 Discount On Online Payment Of LPG Cylinder
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After petrol and diesel, buying and paying for cooking gas (LPG) online will get consumers a discount of Rs. 5 per cylinder.
State-owned fuel retailers, Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) will offer "an upfront discount of Rs. 5 on every LPG refill to all LPG customers who will book and pay for it online," an official statement said here.
To provide cash-less transactions, the government had asked oil companies to pay consumers 0.75 per cent discount on cashless fuelling of petrol and diesel at petrol pumps.
This has now been extended to cooking gas (LPG).
"Customers can make payment through existing online modes i.e net banking, credit and debit cards at the time of web-booking their refills," the statement said.
On doing so, customers will get the discounted amount displayed on their screens. This net amount payable will be retail selling price minus incentive amount of Rs. 5 per cylinder.
"The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder," it said.
A subsidised LPG cylinder of 14.2-kg currently costs Rs. 434.71 in Delhi. A non-subsidised bottle of similar size, which consumer not having a subsidised connection buy, costs Rs. 585. Even for the subsidised users, non-subsidised LPG cylinder is also they have to buy after exhausting their quota of 12 bottles at sub-market rates.
The oil firms offer a 0.75 per cent discount on the price of petrol and diesel to consumers paying by cards or mobile wallets to push people towards digital payments in the face of a severe cash crunch brought in by the demonetisation of Rs. 500 and Rs. 1,000 notes.
Such discount is credited to customer's account by way of 'cash back' within maximum three working days.
Petrol currently costs Rs. 70.60 a litre in Delhi and the discount translates into 53 paisa. Similarly, on the price of Rs. 57.82 for diesel, the discount comes to 43 paisa per litre.
Stating that the discounts are aimed to encourage consumers to increasingly shift to digital payment modes to achieve the objective of no-cash or less-cash based transactions, the statement said, "The incentive will encourage more and more LPG consumers to go for cashless mode transactions."
State-owned fuel retailers, Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) will offer "an upfront discount of Rs. 5 on every LPG refill to all LPG customers who will book and pay for it online," an official statement said here.
To provide cash-less transactions, the government had asked oil companies to pay consumers 0.75 per cent discount on cashless fuelling of petrol and diesel at petrol pumps.
This has now been extended to cooking gas (LPG).
"Customers can make payment through existing online modes i.e net banking, credit and debit cards at the time of web-booking their refills," the statement said.
On doing so, customers will get the discounted amount displayed on their screens. This net amount payable will be retail selling price minus incentive amount of Rs. 5 per cylinder.
"The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder," it said.
A subsidised LPG cylinder of 14.2-kg currently costs Rs. 434.71 in Delhi. A non-subsidised bottle of similar size, which consumer not having a subsidised connection buy, costs Rs. 585. Even for the subsidised users, non-subsidised LPG cylinder is also they have to buy after exhausting their quota of 12 bottles at sub-market rates.
The oil firms offer a 0.75 per cent discount on the price of petrol and diesel to consumers paying by cards or mobile wallets to push people towards digital payments in the face of a severe cash crunch brought in by the demonetisation of Rs. 500 and Rs. 1,000 notes.
Such discount is credited to customer's account by way of 'cash back' within maximum three working days.
Petrol currently costs Rs. 70.60 a litre in Delhi and the discount translates into 53 paisa. Similarly, on the price of Rs. 57.82 for diesel, the discount comes to 43 paisa per litre.
Stating that the discounts are aimed to encourage consumers to increasingly shift to digital payment modes to achieve the objective of no-cash or less-cash based transactions, the statement said, "The incentive will encourage more and more LPG consumers to go for cashless mode transactions."
Oil Prices Hit 18-Month Highs As Markets Eye Output Cuts
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Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members to cut production, which kicked in on Sunday, will drain a global supply glut.
Benchmark Brent crude jumped more than 2 per cent to a high of $58.37, up $1.55 a barrel and its highest since July 2015. By 0940 GMT, Brent eased slightly to trade at $58.22, up $1.40.
US light crude oil hit an 18-month high of $55.24, up $1.52 a barrel, also its highest since July 2015.
Oil futures markets were closed on Monday for New Year public holidays.
January 1 marked the official start of a deal agreed by OPEC and other exporters such as Russia to reduce output by almost 1.8 million barrels per day (bpd).
"First signals suggest the OPEC and non-OPEC production cuts are raising hopes that the global oil oversupply will diminish," said Hans van Cleef, senior energy economist at ABN AMRO Bank N.V. in Amsterdam.
Ric Spooner, chief market analyst at CMC Markets, agreed. "Markets will be looking for anecdotal evidence for production cuts," he said. "The most likely scenario is OPEC and non-OPEC member countries will be committed to the deal, especially in early stages."
Libya, one of two OPEC countries exempt from the output cuts, has increased its production to 685,000 bpd, from around 600,000 bpd in December, an official at the National Oil Corporation said on Sunday.
Elsewhere, non-OPEC Middle Eastern oil producer Oman told customers last week that it would cut its crude oil term allocation volumes by 5 per cent in March.
Non-OPEC Russia's oil production in December remained unchanged at 11.21 million bpd, near a 30-year high, but it was preparing to cut output by 300,000 bpd in the first half of 2017 in its contribution to the accord.
Benchmark Brent crude jumped more than 2 per cent to a high of $58.37, up $1.55 a barrel and its highest since July 2015. By 0940 GMT, Brent eased slightly to trade at $58.22, up $1.40.
US light crude oil hit an 18-month high of $55.24, up $1.52 a barrel, also its highest since July 2015.
Oil futures markets were closed on Monday for New Year public holidays.
January 1 marked the official start of a deal agreed by OPEC and other exporters such as Russia to reduce output by almost 1.8 million barrels per day (bpd).
"First signals suggest the OPEC and non-OPEC production cuts are raising hopes that the global oil oversupply will diminish," said Hans van Cleef, senior energy economist at ABN AMRO Bank N.V. in Amsterdam.
Ric Spooner, chief market analyst at CMC Markets, agreed. "Markets will be looking for anecdotal evidence for production cuts," he said. "The most likely scenario is OPEC and non-OPEC member countries will be committed to the deal, especially in early stages."
Libya, one of two OPEC countries exempt from the output cuts, has increased its production to 685,000 bpd, from around 600,000 bpd in December, an official at the National Oil Corporation said on Sunday.
Elsewhere, non-OPEC Middle Eastern oil producer Oman told customers last week that it would cut its crude oil term allocation volumes by 5 per cent in March.
Non-OPEC Russia's oil production in December remained unchanged at 11.21 million bpd, near a 30-year high, but it was preparing to cut output by 300,000 bpd in the first half of 2017 in its contribution to the accord.
BSE Gets Sebi Nod For Launching IPO: 7 Things To Know
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Market regulator Sebi has given its nod to BSE to launch its Initial public offering or IPO. The BSE, which is India's largest and Asia's oldest stock exchange will raise an estimated Rs 1,500 crore by listing on the National Stock Exchange. The exchange had filed draft papers with capital market regulator Sebi in September to float an IPO. The IPO issue of the BSE is being managed by 8 merchant banks.
Here are 7 things to know about the upcoming IPO
1) The BSE IPO will offer 29,955,434 equity shares by the existing shareholders through the offer for sale (OFS) route.
2) The sale of share accounts for around 30 per cent of the total holding.
3) BSE had reported a 40 per cent increase in consolidated net profit at Rs 52.72 crore for the first quarter to June 2016.
4) Some of the big ticket shareholders in the stock exchange are Caldwell India Holdings, Bajaj Holdings Investment, Singapore Exchange, Acacia Banyan Partners, Mauritius-based arms of American investor George Soros' Quantum Fund and foreign fund Atticus. In total there are around 9,000 shareholders in the bourse.
5) As many as 262 shareholders will be selling their shares in the upcoming issue. The Singapore Exchange, which holds 5.09 million shares, or a 4.7 per cent stake, in the company will make a complete exit by selling its stake in the IPO.
6) According to the stock exchange's website, there are 2, 881 companies that currently trade on the BSE Platform.
7) The market capitalization of the companies listed on BSE is estimated to be Rs 1,07,48,608 crore.
Here are 7 things to know about the upcoming IPO
1) The BSE IPO will offer 29,955,434 equity shares by the existing shareholders through the offer for sale (OFS) route.
2) The sale of share accounts for around 30 per cent of the total holding.
3) BSE had reported a 40 per cent increase in consolidated net profit at Rs 52.72 crore for the first quarter to June 2016.
4) Some of the big ticket shareholders in the stock exchange are Caldwell India Holdings, Bajaj Holdings Investment, Singapore Exchange, Acacia Banyan Partners, Mauritius-based arms of American investor George Soros' Quantum Fund and foreign fund Atticus. In total there are around 9,000 shareholders in the bourse.
5) As many as 262 shareholders will be selling their shares in the upcoming issue. The Singapore Exchange, which holds 5.09 million shares, or a 4.7 per cent stake, in the company will make a complete exit by selling its stake in the IPO.
6) According to the stock exchange's website, there are 2, 881 companies that currently trade on the BSE Platform.
7) The market capitalization of the companies listed on BSE is estimated to be Rs 1,07,48,608 crore.
General Awareness
Chandrababu Naidu Launches Arogya Raksha Scheme to cover APL Families
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Chandrababu Naidu, Chief Minister of Andhra Pradesh launched a new health scheme, Arogya Raksha Scheme on January 1, 2017 at Tummalapalli Kalakshetram in Vijayawada to provide the medical treatment to the people of the Above Poverty Line at Rs. 1200 premium per annum.
- Aim: The main objective of Arogya Raksha scheme is to cover the Above Poverty Line (APL) families in the state and provide them the health insurance and ensure “Health for All” by providing them insurance coverage at a negligible premium amount.
- While launching the scheme, the CM said that the scheme aims to make Andhra Pradesh as “Arogyandhra Pradesh” and the state government aims to achieve the ambitious target of making the state among top three best developed state in the country by 2020 and first best developed state by 2050.
- The Chief Minister dedicated the two schemes, Arogya Raksha and Swasta Vidya Vahini- launched at 222 places to provide nutritious food to students in the state on December 24, as the New Year Gift to the state.
Features of Arogya Raksha Scheme
The Arogya Raksha Scheme would provide health insurance coverage to about 35 Lakh Above Poverty Line families in the state.
- Under the scheme, an end-to-end cashless service would be rendered to a total of 1044 diseases covered under the scheme. Unlike other insurance schemes pre existing disease will not be considered.
- To avail the Arogya Raksha scheme benefits, every individual of the family would be required to pay Rs. 100 per month or Rs. 1200 per annum as policy premium.
- A total of 432 hospitals including 80 government general hospitals have been enrolled for the implementation of the scheme.
- The scheme would provide an insurance coverage of up to Rs. 2 Lakh per annum and free treatment in any 432 corporate hospitals in the state.
- Under Arogya Raksha Scheme, the government is also providing free medical treatments to government employees and Journalists of the state Andhra Pradesh.
- The new born can be registered under the Scheme by paying Rs.100/- per month for the remaining financial months while the newly married couple either the wife or husband belongs to other state can be registered under one family by paying the entire annual premium.
Registration for the Scheme
To avail the benefit of Arogya Raksha scheme interested applicants should enroll themselves into the scheme between January 1-February 28, 2017. The coverage period would however start from 1st April 2017. The applicants should approach Mee Seva centers across the state to enroll their names.
- Registration can be done through http://www.ntrvaidyaseva.ap.gov.in.
- There are a total of 5481 Mee Seva Centers across the state where the application forms for Arogya Raksha scheme can be filled.
- Arogya Raksha scheme would be linked to the Aadhar Number of the beneficiaries and in order to avail the cashless treatment through the scheme, the applicant would need to show the Aadhar number at any of the listed private and government hospitals.
Fund for the scheme
- The World Health Organisation, Bill Gates Foundation and other noted health organizations would support the government in implementing this scheme.
- The scheme is estimated to cost Rs 160.56 crore and the government would sanction the necessary allocations for the scheme in the budget session 2017-2018.
- Aim: The main objective of Arogya Raksha scheme is to cover the Above Poverty Line (APL) families in the state and provide them the health insurance and ensure “Health for All” by providing them insurance coverage at a negligible premium amount.
- While launching the scheme, the CM said that the scheme aims to make Andhra Pradesh as “Arogyandhra Pradesh” and the state government aims to achieve the ambitious target of making the state among top three best developed state in the country by 2020 and first best developed state by 2050.
- The Chief Minister dedicated the two schemes, Arogya Raksha and Swasta Vidya Vahini- launched at 222 places to provide nutritious food to students in the state on December 24, as the New Year Gift to the state.
- Under the scheme, an end-to-end cashless service would be rendered to a total of 1044 diseases covered under the scheme. Unlike other insurance schemes pre existing disease will not be considered.
- To avail the Arogya Raksha scheme benefits, every individual of the family would be required to pay Rs. 100 per month or Rs. 1200 per annum as policy premium.
- A total of 432 hospitals including 80 government general hospitals have been enrolled for the implementation of the scheme.
- The scheme would provide an insurance coverage of up to Rs. 2 Lakh per annum and free treatment in any 432 corporate hospitals in the state.
- Under Arogya Raksha Scheme, the government is also providing free medical treatments to government employees and Journalists of the state Andhra Pradesh.
- The new born can be registered under the Scheme by paying Rs.100/- per month for the remaining financial months while the newly married couple either the wife or husband belongs to other state can be registered under one family by paying the entire annual premium.
- Registration can be done through http://www.ntrvaidyaseva.ap.gov.in.
- There are a total of 5481 Mee Seva Centers across the state where the application forms for Arogya Raksha scheme can be filled.
- Arogya Raksha scheme would be linked to the Aadhar Number of the beneficiaries and in order to avail the cashless treatment through the scheme, the applicant would need to show the Aadhar number at any of the listed private and government hospitals.
- The World Health Organisation, Bill Gates Foundation and other noted health organizations would support the government in implementing this scheme.
- The scheme is estimated to cost Rs 160.56 crore and the government would sanction the necessary allocations for the scheme in the budget session 2017-2018.
Chandrababu Naidu, Chief Minister of Andhra Pradesh launched a new health scheme, Arogya Raksha Scheme on January 1, 2017 at Tummalapalli Kalakshetram in Vijayawada to provide the medical treatment to the people of the Above Poverty Line at Rs. 1200 premium per annum.
Features of Arogya Raksha Scheme
The Arogya Raksha Scheme would provide health insurance coverage to about 35 Lakh Above Poverty Line families in the state.
Registration for the Scheme
To avail the benefit of Arogya Raksha scheme interested applicants should enroll themselves into the scheme between January 1-February 28, 2017. The coverage period would however start from 1st April 2017. The applicants should approach Mee Seva centers across the state to enroll their names.
Fund for the scheme
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