General Affairs
Tejas inducted into 45 Squadron of the Air Force, to fly in IAF war game
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In a major boost to Make in India in defence sector, the Indian Air Force (IAF) is for the first time planning to deploy the Light Combat Aircraft (LCA) Tejas in its mega pan-India exercise called 'Gaganshakti' in which almost all the combat aircraft of the service will take part in March-April this year.
The LCA Tejas planes have been inducted into the 45 Squadron of the IAF in the Initial Operational Clearance (IOC) configuration and are being readied for carrying out operational roles in the near future.
"A few of the tests have to be done on the LCA which are in the process of being carried out. After these are done, the plan is to deploy the planes in the forthcoming pan-India war games code-named 'Exercise Gaganshakti'," government sources told Mail Today.
This will be a big boost to the Make in India progarmme and will be a big landmark for the indigenous aircraft development project, which is now entering an important phase of getting operational, an IAF official said.
The LCA project approved in 1983 has been marred by delays due to the sanction regime of the United States in the late 1990s and early 2000s and delays on part of laboratories of the DRDO.
However, the programme received a major push from the defence ministry as recently, the defence minister-led Defence Acquisition Council cleared the Rs 48,000 crore project to procure 83 LCA Mk1A from Hindustan Aeronautics Limited and the tender in this regard was issued last week to the public sector firm.
The Gaganshakti exercise is a pan-India war game conducted by the Air Force across its operational commands where the response of the force is checked to the threats faced by it on different fronts.
During the exercise, the IAF will operate its latest acquisitions in a network-centric environment, achieving very high levels of synergy with the Army and the Navy, sources in the Air Force said.
During this exercise, several hundred combat planes including the Su-30MKI, Mirage-2000, Jaguars and MiG 29s would take part and hundreds of missions would be flown with impeccable planning and execution, they said.
The exercise will be based on a scenario that included rapid deployment across the country at all operational Air Force bases.
Meanwhile, defence experts feel that the decision to procure the LCA will reduce the dependence on imports.
The IAF has already placed orders for 20 LCA Mark 1 aircraft which would be more of technology demonstrators but the IAF was more interested in having the LCA Mark 2, which would be a more capable and upgraded version of the indigenous plane in the making for the last over two decades.
The HAL would first deliver the Mark 1 aircraft to the IAF and then would produce the Mark 1A in the interim till the time it is ready with the Mark 2 version.
The project would give a strong push to the indigenous fighter aircraft industry as this would be the first major bulk production order for the plane.
The LCA Tejas planes have been inducted into the 45 Squadron of the IAF in the Initial Operational Clearance (IOC) configuration and are being readied for carrying out operational roles in the near future.
"A few of the tests have to be done on the LCA which are in the process of being carried out. After these are done, the plan is to deploy the planes in the forthcoming pan-India war games code-named 'Exercise Gaganshakti'," government sources told Mail Today.
This will be a big boost to the Make in India progarmme and will be a big landmark for the indigenous aircraft development project, which is now entering an important phase of getting operational, an IAF official said.
The LCA project approved in 1983 has been marred by delays due to the sanction regime of the United States in the late 1990s and early 2000s and delays on part of laboratories of the DRDO.
However, the programme received a major push from the defence ministry as recently, the defence minister-led Defence Acquisition Council cleared the Rs 48,000 crore project to procure 83 LCA Mk1A from Hindustan Aeronautics Limited and the tender in this regard was issued last week to the public sector firm.
The Gaganshakti exercise is a pan-India war game conducted by the Air Force across its operational commands where the response of the force is checked to the threats faced by it on different fronts.
During the exercise, the IAF will operate its latest acquisitions in a network-centric environment, achieving very high levels of synergy with the Army and the Navy, sources in the Air Force said.
During this exercise, several hundred combat planes including the Su-30MKI, Mirage-2000, Jaguars and MiG 29s would take part and hundreds of missions would be flown with impeccable planning and execution, they said.
The exercise will be based on a scenario that included rapid deployment across the country at all operational Air Force bases.
Meanwhile, defence experts feel that the decision to procure the LCA will reduce the dependence on imports.
The IAF has already placed orders for 20 LCA Mark 1 aircraft which would be more of technology demonstrators but the IAF was more interested in having the LCA Mark 2, which would be a more capable and upgraded version of the indigenous plane in the making for the last over two decades.
The HAL would first deliver the Mark 1 aircraft to the IAF and then would produce the Mark 1A in the interim till the time it is ready with the Mark 2 version.
The project would give a strong push to the indigenous fighter aircraft industry as this would be the first major bulk production order for the plane.
Maharashtra bandh: Dalit activists attempt rail-blockade at Virar, Thane, security forces jump in
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The Maharashtra shutdown called by some Dalit parties started with attempts to block suburban train services in Thane and Palghar and processions in Mumbai and elsewhere on Wednesday amidst tight security across the state.
Groups of Dalit activists jumped on the railway tracks, shouting slogans and waving flags to attempt a rail-blockade at Thane and Virar stations in Palghar, but were prevented by the security forces.
In Mumbai, colleges and schools opened as usual but school buses stayed off roads as a precaution. One private school bus was stoned in Chembur but there were no injuries.
Though many taxi-auto rickshaw unions have supported the shutdown, the city's lifeline, the suburban trains and the BEST (Bombay Electric Supply And Transport) buses services were plying near-normally.
Some autos and taxis were seen plying in various areas, but the famed Dabbawalas cancelled their services for the day.
Many shops and establishments also opened for work as usual in the city and suburbs and there were the familiar crowds on roads and highways.
The shutdown evoked greater response in mofussil areas compared to urban pockets of Thane, Nagpur, Pune and other cities.
The coastal Konkan region reported a near-total shutdown, as also Dalit strongholds of Marathwada like Beed, Latur, Solapur, Jalgaon, Dhule, Ahmednagar, Nashik and Palghar.
Internet services were suspended in Aurangabad for the day.
The Maharashtra State Road Transport Corporation (MSRTC) buses in some sensitive districts have been suspended as a precaution after it suffered damages to 187 buses in Tuesday's violence.
The Bharipa Bahujan Mahasangh, a Dalit party headed by Prakash Ambedkar - the grandson of Bharat Ratna B.R. Ambedkar, called for a 'peaceful Maharashtra shutdown' on Wednesday to express anger over the Pune incidents of January 1.
The shutdown call has elicited support from various Dalit parties, Leftist parties, some Maratha groups with the likelihood of other parties supporting it.
Groups of Dalit activists jumped on the railway tracks, shouting slogans and waving flags to attempt a rail-blockade at Thane and Virar stations in Palghar, but were prevented by the security forces.
In Mumbai, colleges and schools opened as usual but school buses stayed off roads as a precaution. One private school bus was stoned in Chembur but there were no injuries.
Though many taxi-auto rickshaw unions have supported the shutdown, the city's lifeline, the suburban trains and the BEST (Bombay Electric Supply And Transport) buses services were plying near-normally.
Some autos and taxis were seen plying in various areas, but the famed Dabbawalas cancelled their services for the day.
Many shops and establishments also opened for work as usual in the city and suburbs and there were the familiar crowds on roads and highways.
The shutdown evoked greater response in mofussil areas compared to urban pockets of Thane, Nagpur, Pune and other cities.
The coastal Konkan region reported a near-total shutdown, as also Dalit strongholds of Marathwada like Beed, Latur, Solapur, Jalgaon, Dhule, Ahmednagar, Nashik and Palghar.
Internet services were suspended in Aurangabad for the day.
The Maharashtra State Road Transport Corporation (MSRTC) buses in some sensitive districts have been suspended as a precaution after it suffered damages to 187 buses in Tuesday's violence.
The Bharipa Bahujan Mahasangh, a Dalit party headed by Prakash Ambedkar - the grandson of Bharat Ratna B.R. Ambedkar, called for a 'peaceful Maharashtra shutdown' on Wednesday to express anger over the Pune incidents of January 1.
The shutdown call has elicited support from various Dalit parties, Leftist parties, some Maratha groups with the likelihood of other parties supporting it.
Even a war has rules: Kumar Vishwas lashes out at Arvind Kejriwal over Rajya Sabha snub
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In a message to the Aam Aadmi Party leadership loaded with sarcasm, a disgruntled Kumar Vishwas today lashed out at his party for not nominating him to the Rajya Sabha.
Shortly after the AAP announced three names for the January 16 election, Vishwas addressed reporters and questioned the decision. "I have been punished for speaking the truth," he said.
"Whatever be the name of those Guptas nominated, congratulations to Kejriwal and them for the loyal work to AAP! They will now sit where Atal Bihari Vajpayee, Indira Gandhi and other stalwarts once sat," the poet-turned-politician said.
"(Arvind) Kejriwal ne mujhe muskurate hue kaha tha, maarunga par shaheed nahi hone dunga. Mera nivedan hai ki shav ke saath chhedchhad na karein, ye yudh ka niyam hota hai (A smiling Kejriwal had said that he will kill me, but will not let be a martyr. My request now is to let the dead body be, it's a rule of war)," he said in Hindi.
"I congratulate Arvind today that I accept my martyrdom," he said. "Main jaanta hu aap (Kejriwal) ki icchha ke bina hamaare dal mein kuch hota nahi. Aapse asehmat reh ke wahan jeevit rehna mushkil hai (I know that nothing happens in the party without Kejrwal's wishes. It's difficult to survive in the party if one disagrees with you)," he said.
The AAP today named its three Rajya Sabha candidates from Delhi including party leader Sanjay Singh, businessman Sushil Gupta and chartered accountant ND Gupta.
Shortly after the AAP announced three names for the January 16 election, Vishwas addressed reporters and questioned the decision. "I have been punished for speaking the truth," he said.
"Whatever be the name of those Guptas nominated, congratulations to Kejriwal and them for the loyal work to AAP! They will now sit where Atal Bihari Vajpayee, Indira Gandhi and other stalwarts once sat," the poet-turned-politician said.
"(Arvind) Kejriwal ne mujhe muskurate hue kaha tha, maarunga par shaheed nahi hone dunga. Mera nivedan hai ki shav ke saath chhedchhad na karein, ye yudh ka niyam hota hai (A smiling Kejriwal had said that he will kill me, but will not let be a martyr. My request now is to let the dead body be, it's a rule of war)," he said in Hindi.
"I congratulate Arvind today that I accept my martyrdom," he said. "Main jaanta hu aap (Kejriwal) ki icchha ke bina hamaare dal mein kuch hota nahi. Aapse asehmat reh ke wahan jeevit rehna mushkil hai (I know that nothing happens in the party without Kejrwal's wishes. It's difficult to survive in the party if one disagrees with you)," he said.
The AAP today named its three Rajya Sabha candidates from Delhi including party leader Sanjay Singh, businessman Sushil Gupta and chartered accountant ND Gupta.
Make in India gets Rs 10,000 crore defence boost
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The Nirmala Sitharaman-led defence ministry has issued a Rs 10,000-crore tender for acquiring 61 advanced air defence gun systems from local manufacturers under the Make in India programme.
The tender was issued by the acquisition wing of the defence ministry and the 61 Close in Weapon Systems (CIWS) air defence systems would be used to replace the Russian-origin systems, including the L-70 and Zu-23 air defence guns.
"The tender cost would be more than Rs 10,000 crore and prominent indigenous defence firms including Tata Power SED, Punj Lloyd, L&T, Mahindra Defence, Bharat Electronics Limited and the Ordnance Factory Board," government sources said here.
Under the programme, the Indian companies will have to tie up with foreign manufacturers, who will help them build the weapon systems under the 'buy and make' clause of the defence acquisition procedure.
Under the project, the Air Force aims to induct homemade CIWS units within the next seven years and will integrate the systems with air command-and-control systems that perform air traffic and surveillance management functions.
In her last few months in office, Sitharaman has been working on increasing the speed of indigenisation in defence sector last week, a tender was issued to the private sector companies for supplying indigenously-manufactured ammunition to armed forces and she made it more viable by increasing the time period from five years to 10 years.
The minister also pushed the services to accept indigenously-manufactured items as the Air Force recently issued a tender to procure 83 Mk1A LCA combat planes for over Rs 50,000 crore.
She has also opened up the manufacturing of over 143 items manufactured only by the ordnance factories to the other small and medium scale private sector companies and they can produce the non-core items for the armed forces.
The tender was issued by the acquisition wing of the defence ministry and the 61 Close in Weapon Systems (CIWS) air defence systems would be used to replace the Russian-origin systems, including the L-70 and Zu-23 air defence guns.
"The tender cost would be more than Rs 10,000 crore and prominent indigenous defence firms including Tata Power SED, Punj Lloyd, L&T, Mahindra Defence, Bharat Electronics Limited and the Ordnance Factory Board," government sources said here.
Under the programme, the Indian companies will have to tie up with foreign manufacturers, who will help them build the weapon systems under the 'buy and make' clause of the defence acquisition procedure.
Under the project, the Air Force aims to induct homemade CIWS units within the next seven years and will integrate the systems with air command-and-control systems that perform air traffic and surveillance management functions.
In her last few months in office, Sitharaman has been working on increasing the speed of indigenisation in defence sector last week, a tender was issued to the private sector companies for supplying indigenously-manufactured ammunition to armed forces and she made it more viable by increasing the time period from five years to 10 years.
The minister also pushed the services to accept indigenously-manufactured items as the Air Force recently issued a tender to procure 83 Mk1A LCA combat planes for over Rs 50,000 crore.
She has also opened up the manufacturing of over 143 items manufactured only by the ordnance factories to the other small and medium scale private sector companies and they can produce the non-core items for the armed forces.
China tried to construct road through Indian territory days after bilateral talks
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China tried to construct a road through Indian territory in Arunachal Pradesh days after India-China border talks in New Delhi.
Days after Ajit Doval - India's National Security Advisor and Special Representative on the boundary issue - met his Chinese counterpart Yang Jiechi, China tried to build a road through Indian territory in Bishing, in the Upper Siang District of Arunachal Pradesh.
The Chinese were pushed back by the Indian troops.
Doval met Jiechi on December 20 in New Delhi.
Sources told India Today, a road building party from China entered Indian territory in a remote part of Arunachal Pradesh on December 26. The ITBP (Indo-Tibetan Border Police) Force and Indian Army, alerted by the villagers rushed and interdicted the Chinese.
The area where the Chinese construction party entered is close to the place where Brahmaputra river enters India, sources said.
Top Army sources said, "The Chinese wanted to construct an Op-track - non metal road to move men and material - around two kilometers away from the nearest ITBP post."
The Op-track is about 600 meters long and a 12-feet wide track was constructed on Indian territory.
Indian troops pushed back the labours, and "seized their equipment," sources said.
Subsequently, Indian troops have barricaded the area since and have been guarding it.
The retreating Chinese team left behind road building equipment like water bowser and heavy-earth movers.
Sources said China has now requested returning the equipment.
Earlier, last year Indian and Chinese troops were engaged in a 73-day stand-off at the Doklam Plateau in Bhutan.
The stand-off between both the troops near the India-China-Bhutan tri-junction started on June 16, when a PLA construction party entered the Doklam area and attempted to construct a road on land that is claimed by Bhutan.
Days after Ajit Doval - India's National Security Advisor and Special Representative on the boundary issue - met his Chinese counterpart Yang Jiechi, China tried to build a road through Indian territory in Bishing, in the Upper Siang District of Arunachal Pradesh.
The Chinese were pushed back by the Indian troops.
Doval met Jiechi on December 20 in New Delhi.
Sources told India Today, a road building party from China entered Indian territory in a remote part of Arunachal Pradesh on December 26. The ITBP (Indo-Tibetan Border Police) Force and Indian Army, alerted by the villagers rushed and interdicted the Chinese.
The area where the Chinese construction party entered is close to the place where Brahmaputra river enters India, sources said.
Top Army sources said, "The Chinese wanted to construct an Op-track - non metal road to move men and material - around two kilometers away from the nearest ITBP post."
The Op-track is about 600 meters long and a 12-feet wide track was constructed on Indian territory.
Indian troops pushed back the labours, and "seized their equipment," sources said.
Subsequently, Indian troops have barricaded the area since and have been guarding it.
The retreating Chinese team left behind road building equipment like water bowser and heavy-earth movers.
Sources said China has now requested returning the equipment.
Earlier, last year Indian and Chinese troops were engaged in a 73-day stand-off at the Doklam Plateau in Bhutan.
The stand-off between both the troops near the India-China-Bhutan tri-junction started on June 16, when a PLA construction party entered the Doklam area and attempted to construct a road on land that is claimed by Bhutan.
Business Affairs
Proposed H-1B visa tweaks underline era of deglobalisation
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There is a buzz about the United States considering a new regulation that would prevent foreign workers from getting H-1B visa extensions while their green card applications are pending. There is a fear it could lead to "self-deportation" of thousands of workers, particularly software engineers employed by IT services companies.
The bigger point is that we are in an era of deglobalisation. While we mostly focus on the United States, former colonial powers are all raising protectionist barriers - be it the UK, other countries in the EU, even Australia and Singapore.
What does this mean for Indian exporters? The cost of doing business will go up several times. They have to live with that. This also has implications for American businesses. What seems to be good for local employees is not necessarily good for businesses. There is a shortage of technical talent in many parts of the world including the US. Businesses would be starved of engineers at a time when the world is transitioning to Digital and new technologies are disrupting how they do business.
And there is no guarantee 'Hire American' would work. Businesses no longer think morally about these issues - they do what is right. The big word here is a 10-letter one - Automation. If they don't get cheaper talent, they could unleash computer robots to do the job.
The bigger point is that we are in an era of deglobalisation. While we mostly focus on the United States, former colonial powers are all raising protectionist barriers - be it the UK, other countries in the EU, even Australia and Singapore.
What does this mean for Indian exporters? The cost of doing business will go up several times. They have to live with that. This also has implications for American businesses. What seems to be good for local employees is not necessarily good for businesses. There is a shortage of technical talent in many parts of the world including the US. Businesses would be starved of engineers at a time when the world is transitioning to Digital and new technologies are disrupting how they do business.
And there is no guarantee 'Hire American' would work. Businesses no longer think morally about these issues - they do what is right. The big word here is a 10-letter one - Automation. If they don't get cheaper talent, they could unleash computer robots to do the job.
Govt notifies electoral bonds to replace cash donations to political parties: All you need to know
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In an attempt to ensure more transparent financing of political parties participating in elections, the government on Tuesday announced the introduction of new electoral bonds that donors can buy from the State Bank of India (SBI). The political parties who get these bonds can in turn encash them only through a designated bank account. The bonds will be available at specified SBI branches for 10 days each in the months of January, April, July and October.
The electoral bonds are aimed at rooting out the current system of largely anonymous cash donations made to political parties which lead to the generation of black money in the economy. The bonds, which would be valid for 15 days, will not carry the donor's name even though the purchaser would have to fulfil KYC norms at the bank, Finance Minister Arun Jaitley said in the Lok Sabha while announcing the contours of the scheme. The window will be for 30 days in the year of a general election, he added.
Jaitley said the purchaser, whose name will not appear on the bonds, would have to make KYC (know your customer) disclosure to the SBI. A citizen of India or a body incorporated in India will be eligible to purchase the bond, he explained. Jaitley said the electoral bond, which will be a bearer instrument, will not carry the name of the payee and can be bought for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh or Rs 1 crore.
He had first announced the concept of electoral bonds while presenting the Budget for 2017-18 on February 1, 2017, to make political funding more transparent. "The government has now finalised the scheme for electoral bonds. The scheme will be notified today," the finance minister said. Although called a bond, the banking instrument resembling promissory notes will not carry any interest. Electoral bonds will allow donors to pay political parties using banks as an intermediary.
When Congress leader Mallikarjun Kharge asked what purpose the bonds would serve when the name of the donor is not disclosed, Jaitley said bonds would get reflected in the balance sheet of the donors. The finance minister explained that electoral bonds, can be given to a registered political party which has secured at least 1 per cent vote in the last Lok Sabha or state assembly elections. That party will have to give one bank account to the Election Commission and it will have to be encashed within 15 days, Jaitley said.
The minister said at present, the donor or quantum and source of funds is not known. The donor will know for which party he is depositing money. The political party will file a return with the election commission. Now, which donor gave to which political party, that is the only thing which will not be known, he explained.
Electoral bonds will ensure clean money and significant transparency against the current system of unclean money, the finance minister said. On why the name of the donor is being kept secret, he said the past experience has shown that once the names are disclosed, there is a tendency to shift to cash donations. The present system is unclean money and new system is a substantial amount of transparency if not total, he added. This will substantially help a lot of opposition parties because in case a disclosure is made it will always be in favour of the ruling party, he said.
People who are expressing apprehension let them suggest a better way, he added. Let me clear misconceptions, if any. I had announced in the Budget speech that political funding needs to be cleaned up. A very large part of donation coming to political parties by the donors, quantum and source is not known.... electoral bonds substantially cleanse the system, he said.
In an attempt to ensure more transparent financing of political parties participating in elections, the government on Tuesday announced the introduction of new electoral bonds that donors can buy from the State Bank of India (SBI). The political parties who get these bonds can in turn encash them only through a designated bank account. The bonds will be available at specified SBI branches for 10 days each in the months of January, April, July and October.The electoral bonds are aimed at rooting out the current system of largely anonymous cash donations made to political parties which lead to the generation of black money in the economy. The bonds, which would be valid for 15 days, will not carry the donor's name even though the purchaser would have to fulfil KYC norms at the bank, Finance Minister Arun Jaitley said in the Lok Sabha while announcing the contours of the scheme. The window will be for 30 days in the year of a general election, he added.
Jaitley said the purchaser, whose name will not appear on the bonds, would have to make KYC (know your customer) disclosure to the SBI. A citizen of India or a body incorporated in India will be eligible to purchase the bond, he explained. Jaitley said the electoral bond, which will be a bearer instrument, will not carry the name of the payee and can be bought for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh or Rs 1 crore.
He had first announced the concept of electoral bonds while presenting the Budget for 2017-18 on February 1, 2017, to make political funding more transparent. "The government has now finalised the scheme for electoral bonds. The scheme will be notified today," the finance minister said. Although called a bond, the banking instrument resembling promissory notes will not carry any interest. Electoral bonds will allow donors to pay political parties using banks as an intermediary.
When Congress leader Mallikarjun Kharge asked what purpose the bonds would serve when the name of the donor is not disclosed, Jaitley said bonds would get reflected in the balance sheet of the donors. The finance minister explained that electoral bonds, can be given to a registered political party which has secured at least 1 per cent vote in the last Lok Sabha or state assembly elections. That party will have to give one bank account to the Election Commission and it will have to be encashed within 15 days, Jaitley said.
The minister said at present, the donor or quantum and source of funds is not known. The donor will know for which party he is depositing money. The political party will file a return with the election commission. Now, which donor gave to which political party, that is the only thing which will not be known, he explained.
Electoral bonds will ensure clean money and significant transparency against the current system of unclean money, the finance minister said. On why the name of the donor is being kept secret, he said the past experience has shown that once the names are disclosed, there is a tendency to shift to cash donations. The present system is unclean money and new system is a substantial amount of transparency if not total, he added. This will substantially help a lot of opposition parties because in case a disclosure is made it will always be in favour of the ruling party, he said.
People who are expressing apprehension let them suggest a better way, he added. Let me clear misconceptions, if any. I had announced in the Budget speech that political funding needs to be cleaned up. A very large part of donation coming to political parties by the donors, quantum and source is not known.... electoral bonds substantially cleanse the system, he said.
Bharat Biotech bags WHO pre-qualification for new Typhoid vaccine
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The World Health Organisation (WHO) on Wednesday announced that at the end of December 2017, it had prequalified the first conjugate vaccine for typhoid, Bharat Biotech's Typbar-TCV. "Typhoid conjugate vaccines (TCVs)," it says "are innovative products that have longer-lasting immunity than older vaccines, require fewer doses, and can be given to young children through routine childhood immunization programs. The fact that the vaccine has been prequalified by WHO means that it meets acceptable standards of quality, safety and efficacy. This makes the vaccine eligible for procurement by UN agencies, such as UNICEF, and Gavi, the Vaccine Alliance."
Conjugate, without getting into jargon, in this case, is really about how the vaccine is designed to make it suitable for consumption by babies in the age bracket of 6 months to 2 years. It can also be administered on adults.
Typhoid is a serious and sometimes fatal disease spread through contaminated food and water. Symptoms include fever, fatigue, headache, abdominal pain, and diarrhea or constipation. For millions of people living in low- and middle-income countries, typhoid is an ever present reality. Global estimates of the typhoid burden range between 11 and 20 million cases and between about 128 000 and 161 000 typhoid deaths annually. Poor communities and vulnerable groups, such as children, are often the most susceptible.
India Market
Earlier, Krishna Ella, chairman and managing director of Bharat Biotech said the company, which has been in the Indian market with this vaccine for the past three years, has been working on this vaccine for the last 14 years and invested its own resources to the tune of Rs 150 crore. "Until this vaccine, there was no vaccine available for children in the age bracket of 6 months to 2 years." He however, was not willing to share any numbers on the revenues, margins and the revenue contribution for the company from the "private market" sales of its products. That is other than what is supplied to global organizations and to government agencies. The vaccine sold in India at an MRP of Rs 1500 in the private market. Ask him, if it is not expensive and he says, could overtime reduce as the volumes pick up. Although he also wishes the government takes up typhoid vaccine in its public health programme. Given that, it is still not been done, he told Business Today that the private market, at the moment, was the only option available for the company to tap resources that can be generated to plough back into research and development. "We have never declared dividend so far and we are debt-free," he says.
Conjugate, without getting into jargon, in this case, is really about how the vaccine is designed to make it suitable for consumption by babies in the age bracket of 6 months to 2 years. It can also be administered on adults.
Typhoid is a serious and sometimes fatal disease spread through contaminated food and water. Symptoms include fever, fatigue, headache, abdominal pain, and diarrhea or constipation. For millions of people living in low- and middle-income countries, typhoid is an ever present reality. Global estimates of the typhoid burden range between 11 and 20 million cases and between about 128 000 and 161 000 typhoid deaths annually. Poor communities and vulnerable groups, such as children, are often the most susceptible.
India Market
Earlier, Krishna Ella, chairman and managing director of Bharat Biotech said the company, which has been in the Indian market with this vaccine for the past three years, has been working on this vaccine for the last 14 years and invested its own resources to the tune of Rs 150 crore. "Until this vaccine, there was no vaccine available for children in the age bracket of 6 months to 2 years." He however, was not willing to share any numbers on the revenues, margins and the revenue contribution for the company from the "private market" sales of its products. That is other than what is supplied to global organizations and to government agencies. The vaccine sold in India at an MRP of Rs 1500 in the private market. Ask him, if it is not expensive and he says, could overtime reduce as the volumes pick up. Although he also wishes the government takes up typhoid vaccine in its public health programme. Given that, it is still not been done, he told Business Today that the private market, at the moment, was the only option available for the company to tap resources that can be generated to plough back into research and development. "We have never declared dividend so far and we are debt-free," he says.
Bank recapitalisation: 6 weak PSU banks to get Rs 7,577 crore from government
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The finance ministry has approved proposal for infusion of Rs 7,577 crore in 6 weak public sector banks (PSBs) as part of the recapitalisation plan to bolster capital adequacy ratio.
All these banks, which got capital support, are under prompt corrective action of the Reserve Bank of India.
The funding comes under Indradhanus plan of the government which promised Rs 70,000 crore over period of four years ending March 2019.
Lenders, which will receive capital through preferential issue of shares, include Bank of India, IDBI Bank and UCO Bank. The actual fund infusion will take place in the next few weeks after they get necessary regulatory approval, including nod from shareholders.
Kolkata-based UCO Bank today announced approval of board for the proposal to issue equity shares on preferential basis to the government against capital contribution of Rs 1,375 crore subject to necessary approval.
Besides, Central Bank of India said the capital raising committee of the board approved raising of equity capital by allotting up to 3.88 crore shares at the issue price of Rs 83.15 per unit aggregating to Rs 323 crore.
At the same time, the government has decided to infuse Rs 2,257 crore in the Bank of India, Rs 2,729 crore in IDBI Bank, Rs 650 crore in Bank of Maharashtra, and Rs 243 crore in Dena Bank.
While the government decides the mode for recapitalisation of all state-run banks, it advanced the release of funds to these six banks to help them meet their equity requirements and enable them to resume normal business and help them come out of prompt corrective action.
Finance Minister Arun Jaitley in October had announced an unprecedented Rs 2.11 lakh crore two-year road map to strengthen PSBs, reeling under high non performing assets (NPAs) or bad loans. Their NPAs have increased to Rs 7.33 lakh crore as of June 2017, from Rs 2.75 lakh crore in March 2015.
The plan includes floating re-capitalisation bonds of Rs 1.35 lakh crore and raising Rs 58,000 crore from the market by diluting government s stake.
The government is working on the modalities for issuing the recapitalisation bonds as it aims to front-load the infusion with an aim to strengthen the state-owned banking sector, sources said, adding that the announcement in this respect, including detailed guidelines, will be made during this month.
Jaitley had also announced that banks would get about Rs 18,000 crore under the Indradhanush plan over the next two years.
Under the Indradhanush road map announced in 2015, the government had announced infusion of Rs 70,000 crore in state- owned banks over four years, while they will have to raise a further Rs 1.1 lakh crore from the market to meet their capital requirement in line with global risk norms, known as Basel-III.
In the last three-and-a-half years, the government pumped Rs 51,858 crore capital in the PSBs. The remaining Rs 18,142 crore will be injected into the banks over the next two years.
All these banks, which got capital support, are under prompt corrective action of the Reserve Bank of India.
The funding comes under Indradhanus plan of the government which promised Rs 70,000 crore over period of four years ending March 2019.
Lenders, which will receive capital through preferential issue of shares, include Bank of India, IDBI Bank and UCO Bank. The actual fund infusion will take place in the next few weeks after they get necessary regulatory approval, including nod from shareholders.
Kolkata-based UCO Bank today announced approval of board for the proposal to issue equity shares on preferential basis to the government against capital contribution of Rs 1,375 crore subject to necessary approval.
Besides, Central Bank of India said the capital raising committee of the board approved raising of equity capital by allotting up to 3.88 crore shares at the issue price of Rs 83.15 per unit aggregating to Rs 323 crore.
At the same time, the government has decided to infuse Rs 2,257 crore in the Bank of India, Rs 2,729 crore in IDBI Bank, Rs 650 crore in Bank of Maharashtra, and Rs 243 crore in Dena Bank.
While the government decides the mode for recapitalisation of all state-run banks, it advanced the release of funds to these six banks to help them meet their equity requirements and enable them to resume normal business and help them come out of prompt corrective action.
Finance Minister Arun Jaitley in October had announced an unprecedented Rs 2.11 lakh crore two-year road map to strengthen PSBs, reeling under high non performing assets (NPAs) or bad loans. Their NPAs have increased to Rs 7.33 lakh crore as of June 2017, from Rs 2.75 lakh crore in March 2015.
The plan includes floating re-capitalisation bonds of Rs 1.35 lakh crore and raising Rs 58,000 crore from the market by diluting government s stake.
The government is working on the modalities for issuing the recapitalisation bonds as it aims to front-load the infusion with an aim to strengthen the state-owned banking sector, sources said, adding that the announcement in this respect, including detailed guidelines, will be made during this month.
Jaitley had also announced that banks would get about Rs 18,000 crore under the Indradhanush plan over the next two years.
Under the Indradhanush road map announced in 2015, the government had announced infusion of Rs 70,000 crore in state- owned banks over four years, while they will have to raise a further Rs 1.1 lakh crore from the market to meet their capital requirement in line with global risk norms, known as Basel-III.
In the last three-and-a-half years, the government pumped Rs 51,858 crore capital in the PSBs. The remaining Rs 18,142 crore will be injected into the banks over the next two years.
Four IIFT students get annual package of Rs 95 lakh
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With top companies participating in the placement programme at Indian Institute of Foreign Trade (IIFT), four students of the institute were offered an annual package of USD 150,000 (over Rs 95 lakh).
The institute, which comes under the commerce ministry, said as many as seven students were offered compensation of USD 80,000 per annum.
"International placements continued to be strong with 31 international roles being offered to our students," IIFT said in a statement.
It said a total of 31 students are placed in international business roles in South America, Thailand, Africa and South-East Asian countries.
British Telecom, DBS, Godrej, Hero MotoCorp, Mother Dairy, Shapoorji Pallonji, Tetra Pak and TVS Motors recruited students for various domains in their international business streams, it added.
"The average compensation offered to the IIFT students is Rs 19.23 lakh per annum, with the domestic average standing at Rs 18.27 lakh per annum," it said.
The institute, which comes under the commerce ministry, said as many as seven students were offered compensation of USD 80,000 per annum.
"International placements continued to be strong with 31 international roles being offered to our students," IIFT said in a statement.
It said a total of 31 students are placed in international business roles in South America, Thailand, Africa and South-East Asian countries.
British Telecom, DBS, Godrej, Hero MotoCorp, Mother Dairy, Shapoorji Pallonji, Tetra Pak and TVS Motors recruited students for various domains in their international business streams, it added.
"The average compensation offered to the IIFT students is Rs 19.23 lakh per annum, with the domestic average standing at Rs 18.27 lakh per annum," it said.
General Awareness
Online portal ‘NARI’
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Context: In a path breaking initiative to empower women, the ministry of Women & Child Development has launched an online portal NARI.
About NARI:
What is it? It is an online portal developed by the Ministry of Women and Child Development which will provide information to women on issues affecting their lives.
Aim: The portal aims to provide women citizens with easy access to information on government schemes and initiatives for women.
Details: The portal contains information about schemes being run by both Central as well as the States Governments. It provides links to the Ministries, Departments and autonomous bodies offering these schemes as well as easy access to online applications and grievance redressal.
About NARI:
What is it? It is an online portal developed by the Ministry of Women and Child Development which will provide information to women on issues affecting their lives.
Aim: The portal aims to provide women citizens with easy access to information on government schemes and initiatives for women.
Details: The portal contains information about schemes being run by both Central as well as the States Governments. It provides links to the Ministries, Departments and autonomous bodies offering these schemes as well as easy access to online applications and grievance redressal.
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