General Affairs
25 States In India Are Free From Open Defecation: PM Modi
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While addressing the Mahatma Gandhi International Sanitation Convention on Sunday, Prime Minister Narendra Modi said that the sanitation coverage in rural areas has increased rapidly after his government came to power in 2014.
He also added that until now as many as 25 states of the country have declared themselves open defecation free (ODF).
"The result of this "Janbhavna" is that the radius of rural sanitation before 2014 was approximately 38 per cent but today it is 94 per cent. The number of ODF villages has surpassed five lakhs. Twenty-five states of India have declared themselves free from open defecation," he said.
The event was organised by the Ministry of Drinking Water and Sanitation to mark the beginning of the 150th birth anniversary celebrations of Mahatma Gandhi.
Elaborating further on the issue, the Prime Minister said, "Four years ago, 60 per cent of the global population defecating in open was in India, it has been reduced to 20 per cent today. In these four years, not just toilets were built or villages and cities have become ODF but regular use of toilets is also more than 90 per cent."
"Today I accept in front of you that if I did not understand Gandhi and his views so deeply, the sanitation campaign would never have been in the priority list of our government. I got inspired from Bapu, which in turn helped me in making Swachh Bharat Abhiyan a reality," he said.
Prime Minister Narendra Modi asserted that with rich philosophies, ancient inspiration, modern technology and effective programmes, India is moving fast towards achieving sustainable development goals."
"Our government is equally stressing on nutrition as well as on sanitation," he added.
In his concluding remark, Prime Minister Narendra Modi said, "four Ps namely political Leadership, Public funding, Partnerships and People's participation are necessary to make the world clean".
He also added that until now as many as 25 states of the country have declared themselves open defecation free (ODF).
"The result of this "Janbhavna" is that the radius of rural sanitation before 2014 was approximately 38 per cent but today it is 94 per cent. The number of ODF villages has surpassed five lakhs. Twenty-five states of India have declared themselves free from open defecation," he said.
The event was organised by the Ministry of Drinking Water and Sanitation to mark the beginning of the 150th birth anniversary celebrations of Mahatma Gandhi.
Elaborating further on the issue, the Prime Minister said, "Four years ago, 60 per cent of the global population defecating in open was in India, it has been reduced to 20 per cent today. In these four years, not just toilets were built or villages and cities have become ODF but regular use of toilets is also more than 90 per cent."
"Today I accept in front of you that if I did not understand Gandhi and his views so deeply, the sanitation campaign would never have been in the priority list of our government. I got inspired from Bapu, which in turn helped me in making Swachh Bharat Abhiyan a reality," he said.
Prime Minister Narendra Modi asserted that with rich philosophies, ancient inspiration, modern technology and effective programmes, India is moving fast towards achieving sustainable development goals."
"Our government is equally stressing on nutrition as well as on sanitation," he added.
In his concluding remark, Prime Minister Narendra Modi said, "four Ps namely political Leadership, Public funding, Partnerships and People's participation are necessary to make the world clean".
PM To Unveil 64-Feet Statue Of Peasant Leader Sir Chhotu Ram In Rohtak
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Prime Minister Narendra Modi will unveil a 64-feet-tall statue of peasant leader late Sir Chhotu Ram at his native village Garhi Sampla in Haryana's Rohtak district on October 9, Union Steel Minister Chaudhary Birender Singh said Tuesday.
The prime minister will also visit a museum where belongings of Sir Chhotu Ram are kept and see a documentary on his life, Mr Singh told reporters.
After the event, PM Modi will address a public rally, the minister informed and indicated that the prime minister may also make some major announcements.
Replying to a question that whether PM Modi is expected to make any major announcements at the rally, in which farmers from adjoining states are also taking part, Mr Singh said, "He (PM) may do so."
Mr Singh, who is grandson of Sir Chhotu Ram, further said the statute has been designed by renowned sculptor Ram V Suthar and his son Anil Suthar.
"He (Sir Chhotu Ram) was farmers' voice during the undivided India. Farmers across the country and even in Pakistan remember him because of the courage he showed to protect the rights of the farmers under the British Raj. He helped farmers in getting back their land from money lenders. He is remembered as a hero by the farmers," Mr Singh said.
On today's farmer protest, Mr Singh said it is the present government that has taken farmer-friendly initiatives like doubling their income, increasing MSP, etc. Those who are not aware of government efforts will keep on criticising, the minister said.
The function will also be attended by Governors of Haryana, Himachal Pradesh, Jammu and Kashmir and Rajasthan Chief Minister Vasundhara Raje, he added.
The prime minister will also visit a museum where belongings of Sir Chhotu Ram are kept and see a documentary on his life, Mr Singh told reporters.
After the event, PM Modi will address a public rally, the minister informed and indicated that the prime minister may also make some major announcements.
Replying to a question that whether PM Modi is expected to make any major announcements at the rally, in which farmers from adjoining states are also taking part, Mr Singh said, "He (PM) may do so."
Mr Singh, who is grandson of Sir Chhotu Ram, further said the statute has been designed by renowned sculptor Ram V Suthar and his son Anil Suthar.
"He (Sir Chhotu Ram) was farmers' voice during the undivided India. Farmers across the country and even in Pakistan remember him because of the courage he showed to protect the rights of the farmers under the British Raj. He helped farmers in getting back their land from money lenders. He is remembered as a hero by the farmers," Mr Singh said.
On today's farmer protest, Mr Singh said it is the present government that has taken farmer-friendly initiatives like doubling their income, increasing MSP, etc. Those who are not aware of government efforts will keep on criticising, the minister said.
The function will also be attended by Governors of Haryana, Himachal Pradesh, Jammu and Kashmir and Rajasthan Chief Minister Vasundhara Raje, he added.
PM Modi To Receive UN's 'Champions Of The Earth Award' Tomorrow
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Prime Minister Narendra Modi will receive the United Nation's highest environmental honour 'Champions of The Earth Award' at a special ceremony tomorrow.
PM Modi and French President Emmanuel Macron have been named as recipients of the prestigious award for their exemplary leadership and advocating action on sustainable development and climate change.
The award, announced on September 26 on the sidelines of 73rd UN General Assembly in New York, will be presented by UN Secretary General Antonio Guterres, an official statement said.
Prime Minister Modi has been selected in the leadership category for his pioneering work in championing the International Solar Alliance and for his unprecedented pledge to eliminate all single-use plastic in India by 2022, it said.
The annual 'Champions of the Earth' prize is awarded to outstanding leaders from government, civil society and the private sector whose actions have had a positive impact on the environment.
PM Modi and French President Emmanuel Macron have been named as recipients of the prestigious award for their exemplary leadership and advocating action on sustainable development and climate change.
The award, announced on September 26 on the sidelines of 73rd UN General Assembly in New York, will be presented by UN Secretary General Antonio Guterres, an official statement said.
Prime Minister Modi has been selected in the leadership category for his pioneering work in championing the International Solar Alliance and for his unprecedented pledge to eliminate all single-use plastic in India by 2022, it said.
The annual 'Champions of the Earth' prize is awarded to outstanding leaders from government, civil society and the private sector whose actions have had a positive impact on the environment.
New Dwarf Planet Spotted At The Very Fringe Of Solar System
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A previously unknown dwarf planet circles through the far reaches of our solar system, the International Astronomical Union's Minor Planet Center announced Tuesday. Officially designated 2015 TG387, the small and spherical object is probably a ball of ice. Astronomers first observed the dwarf planet on Oct. 13, 2015, from the Subaru telescope at Hawaii's Mauna Kea Observatories. Embracing the near-Halloween October spirit - and for want of something pronounceable - its discoverers nicknamed 2015 TG387 "the Goblin."
The Goblin is "about 300 kilometers in diameter, on the small end of a dwarf planet," said Scott Sheppard, an astronomer at the Carnegie Institution for Science in Washington who discovered the object along with colleagues at Northern Arizona University, University of Hawaii and the University of Oklahoma. Dwarf planet Pluto, by comparison, is six times as wide.
Sheppard has embarked on an ongoing survey to find tiny planetoids on the solar system's outer rim. He's interested in the Goblin because it "always stays well beyond the giant planet region," referring to the lineup of our solar system's four biggest planets: Jupiter, Saturn, Uranus and Neptune. Because 2015 TG387 exists so far away, speaking in terms of miles becomes unwieldy. Instead, astronomers refer to its orbit in astronomical units, or AU, where 1 AU is the distance between the sun and Earth. Pluto sits at an average of 40 AU from the sun. The Goblin comes no closer than 65 AU.
Only a few known objects in our solar system have comparable orbits, such as dwarf planets 2012 VP113 (nickname: Biden) and Sedna. And 2015 TG387's lopsided elliptical orbit takes it much farther away than those two remote objects - at its farthest, the Goblin reaches 2,300 AU, into a region of space called the Oort cloud. This also means the Goblin takes 40,000 years to complete one orbit of the sun. If we set our calendars by 2015 TG387, then one "Goblin year" ago the last of the Neanderthals walked the earth.
Confirming the orbit of 2015 TG387 required repeated observations, through May 2018, because the planet moves so slowly. The astronomers were lucky to catch the Goblin when they did. As it travels along 99 percent of its orbit, 2015 TG387 is too far and too faint to be detected. Sheppard said he predicts thousands of objects the same size as 2015 TG387 dot the rim of our solar system. But they are likewise too distant to be seen the vast majority of the time. He anticipates astronomers will be able to detect only another dozen or so objects in the next few years of the survey.
"Objects such as 2015 TG387 allow us to probe not only the makeup of the solar system itself but also the gravitational mechanisms that sculpt it," said Konstantin Batygin, a planetary scientist at the California Institute of Technology who was not involved with the observation. "This is a great discovery indeed."
The Goblin's orbit is very skewed, and so is Sedna's and Biden's. Sheppard says a large and unknown planet could be "shepherding" these dwarf planets, directing them like a cosmic border collie around the solar system's fringe.
Sheppard is not the only astronomer to propose that a putative planet, called Planet Nine or Planet X, lurks at the dark edge of the solar system. The planet, if it exists, would be bigger than the Goblin or Pluto. Batygin, in a 2016 paper in the Astronomical Journal, estimated Planet Nine would be up to 10 times as massive as Earth.
As such, Planet Nine would be a "massive perturber," as Sheppard called it in a 2014 Nature article. Smaller objects like the Goblin have to dance around Planet Nine, or else they would collide with it or be ejected from their orbits. So far, all of the objects Sheppard has spotted appear to dance as predicted.
"This clustering can only be maintained if the solar system hosts an additional, yet unseen, super-Earth type planet," Batygin said. He added, "I'm running code as we speak that evaluates how the inferred orbit and mass of Planet Nine are affected by this new object." The Goblin sits right in the middle of the cluster of known objects, he said, and the astronomical search helps scientists home in on Planet Nine's location.
In 2016, Sheppard told The Washington Post that he put the odds of Planet Nine's existence at about 60 percent. Now he's up to 80 percent, he said. "If the trends are true, then we don't know of another explanation for why they would be grouped in an orbit like this," Sheppard said. Though the trends have held, the astronomers admit they are dealing with a small number of known objects. For now, Sheppard is eager to find more.
The Goblin is "about 300 kilometers in diameter, on the small end of a dwarf planet," said Scott Sheppard, an astronomer at the Carnegie Institution for Science in Washington who discovered the object along with colleagues at Northern Arizona University, University of Hawaii and the University of Oklahoma. Dwarf planet Pluto, by comparison, is six times as wide.
Sheppard has embarked on an ongoing survey to find tiny planetoids on the solar system's outer rim. He's interested in the Goblin because it "always stays well beyond the giant planet region," referring to the lineup of our solar system's four biggest planets: Jupiter, Saturn, Uranus and Neptune. Because 2015 TG387 exists so far away, speaking in terms of miles becomes unwieldy. Instead, astronomers refer to its orbit in astronomical units, or AU, where 1 AU is the distance between the sun and Earth. Pluto sits at an average of 40 AU from the sun. The Goblin comes no closer than 65 AU.
Only a few known objects in our solar system have comparable orbits, such as dwarf planets 2012 VP113 (nickname: Biden) and Sedna. And 2015 TG387's lopsided elliptical orbit takes it much farther away than those two remote objects - at its farthest, the Goblin reaches 2,300 AU, into a region of space called the Oort cloud. This also means the Goblin takes 40,000 years to complete one orbit of the sun. If we set our calendars by 2015 TG387, then one "Goblin year" ago the last of the Neanderthals walked the earth.
Confirming the orbit of 2015 TG387 required repeated observations, through May 2018, because the planet moves so slowly. The astronomers were lucky to catch the Goblin when they did. As it travels along 99 percent of its orbit, 2015 TG387 is too far and too faint to be detected. Sheppard said he predicts thousands of objects the same size as 2015 TG387 dot the rim of our solar system. But they are likewise too distant to be seen the vast majority of the time. He anticipates astronomers will be able to detect only another dozen or so objects in the next few years of the survey.
"Objects such as 2015 TG387 allow us to probe not only the makeup of the solar system itself but also the gravitational mechanisms that sculpt it," said Konstantin Batygin, a planetary scientist at the California Institute of Technology who was not involved with the observation. "This is a great discovery indeed."
The Goblin's orbit is very skewed, and so is Sedna's and Biden's. Sheppard says a large and unknown planet could be "shepherding" these dwarf planets, directing them like a cosmic border collie around the solar system's fringe.
Sheppard is not the only astronomer to propose that a putative planet, called Planet Nine or Planet X, lurks at the dark edge of the solar system. The planet, if it exists, would be bigger than the Goblin or Pluto. Batygin, in a 2016 paper in the Astronomical Journal, estimated Planet Nine would be up to 10 times as massive as Earth.
As such, Planet Nine would be a "massive perturber," as Sheppard called it in a 2014 Nature article. Smaller objects like the Goblin have to dance around Planet Nine, or else they would collide with it or be ejected from their orbits. So far, all of the objects Sheppard has spotted appear to dance as predicted.
"This clustering can only be maintained if the solar system hosts an additional, yet unseen, super-Earth type planet," Batygin said. He added, "I'm running code as we speak that evaluates how the inferred orbit and mass of Planet Nine are affected by this new object." The Goblin sits right in the middle of the cluster of known objects, he said, and the astronomical search helps scientists home in on Planet Nine's location.
In 2016, Sheppard told The Washington Post that he put the odds of Planet Nine's existence at about 60 percent. Now he's up to 80 percent, he said. "If the trends are true, then we don't know of another explanation for why they would be grouped in an orbit like this," Sheppard said. Though the trends have held, the astronomers admit they are dealing with a small number of known objects. For now, Sheppard is eager to find more.
'Second Freedom Struggle' Against Modi Government, Says Congress
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The Congress Working Committee (CWC) today called for a "second freedom struggle" against the Modi government to combat the ideology of "hate and violence", saying the same reason had led to the assassination of Mahatma Gandhi.
The meeting organized at Mahadev Bhavan, Sevagram Ashram, in Wardha district of Maharashtra on the 149th birth anniversary of Mahatma Gandhi, the CWC also condemned the use of force against protesting farmers on their way to the national capital.
Addressing a press conference, party spokesperson Randeep Singh Surjewala said the CWC has passed two resolutions recalling the contribution of Mahatma Gandhi to the "Indian thought process, its soul and body".
"(Former prime minister) Lal Bahadur Shastri's call of 'Jai Jawan Jai Kisan' is not just a slogan but a way of life. We will continue to fight for farmers' rights," he said.
Mr Surjewala said the second freedom struggle will be against the Modi government for practising politics of "hatred, divisiveness, fear, polarisation, crushing dissent and debates".
"The Modi government is against India's plurality and is indulging in politics of revenge, falsehood and betrayal. It is easy to talk about Gandhiji in speeches. It's just political opportunism," he said.
The CWC underscored the hypocrisy of those who vilified Gandhi and his thoughts, but are brazenly championing it now, he said.
"The second freedom struggle will be against the government that practices politics of hate, vendetta, threat, murder, intimidation, crushing healthy debate and dissent," he said.
"Farmers who had come to seek grievance redressal were beaten up and lathi charged. Water canons and tear gas was also used. We condemn the autocratic Modi government and the prime minister who is drunk with power. We express solidarity with the farmers and resolve to redress their grievances if voted to power," he said.
The CWC meeting was presided over by Congress president Rahul Gandhi and attended among others by UPA chairperson Sonia Gandhi and former prime minister Manmohan Singh.
The meeting organized at Mahadev Bhavan, Sevagram Ashram, in Wardha district of Maharashtra on the 149th birth anniversary of Mahatma Gandhi, the CWC also condemned the use of force against protesting farmers on their way to the national capital.
Addressing a press conference, party spokesperson Randeep Singh Surjewala said the CWC has passed two resolutions recalling the contribution of Mahatma Gandhi to the "Indian thought process, its soul and body".
"(Former prime minister) Lal Bahadur Shastri's call of 'Jai Jawan Jai Kisan' is not just a slogan but a way of life. We will continue to fight for farmers' rights," he said.
Mr Surjewala said the second freedom struggle will be against the Modi government for practising politics of "hatred, divisiveness, fear, polarisation, crushing dissent and debates".
"The Modi government is against India's plurality and is indulging in politics of revenge, falsehood and betrayal. It is easy to talk about Gandhiji in speeches. It's just political opportunism," he said.
The CWC underscored the hypocrisy of those who vilified Gandhi and his thoughts, but are brazenly championing it now, he said.
"The second freedom struggle will be against the government that practices politics of hate, vendetta, threat, murder, intimidation, crushing healthy debate and dissent," he said.
"Farmers who had come to seek grievance redressal were beaten up and lathi charged. Water canons and tear gas was also used. We condemn the autocratic Modi government and the prime minister who is drunk with power. We express solidarity with the farmers and resolve to redress their grievances if voted to power," he said.
The CWC meeting was presided over by Congress president Rahul Gandhi and attended among others by UPA chairperson Sonia Gandhi and former prime minister Manmohan Singh.
Business Affairs
Salaries and perks of MPs cost exchequer Rs 1,997 crore in 4 years
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The government has spent Rs 1,997 crore towards salaries and perks of parliamentarians in the past four financial years, according to response to an RTI query.
While Rs 71.29 lakh was spent on an average for a member of Lok Sabha, Rs 44.33 lakh was spent on a Rajya Sabha member, the Lok Sabha secretariat said in response to the RTI application, filed by activist Chandra Shekhar Gaud.
Lok Sabha has 545 members (543 elected and 2 Nominated from the Anglo-Indian Community by the President). Rajya Sabha has a strength of 245 members.
The Lok Sabha MPs got more than Rs 1,554 crore as emoluments in the past four financial year commencing from 2014-15.
Each Lok Sabha member were paid average Rs 71,29,390 annually since fiscal 2014-15, it said.
Similarly, the members of Rajya Sabha got more than Rs 443 crore as emoluments in past four fiscals, it said.
A breakup of the total amounts reveals that each Rajya Sabha MP received Rs 44,33,682 annually in the past four fiscals.
Meanwhile, Jagdish Chhokar, founder member of the Association for Democratic Reform, an NGO, said the increasing burden on the government coffers in paying salaries and perks to MPs should be reviewed.
"There is no issue if the salary of MPs' is hiked 10 times but they must not get reimbursements for transport, house, vehicle, food, medical, air travel, telephone and other things from the state exchequer," he said.
While Rs 71.29 lakh was spent on an average for a member of Lok Sabha, Rs 44.33 lakh was spent on a Rajya Sabha member, the Lok Sabha secretariat said in response to the RTI application, filed by activist Chandra Shekhar Gaud.
Lok Sabha has 545 members (543 elected and 2 Nominated from the Anglo-Indian Community by the President). Rajya Sabha has a strength of 245 members.
The Lok Sabha MPs got more than Rs 1,554 crore as emoluments in the past four financial year commencing from 2014-15.
Each Lok Sabha member were paid average Rs 71,29,390 annually since fiscal 2014-15, it said.
Similarly, the members of Rajya Sabha got more than Rs 443 crore as emoluments in past four fiscals, it said.
A breakup of the total amounts reveals that each Rajya Sabha MP received Rs 44,33,682 annually in the past four fiscals.
Meanwhile, Jagdish Chhokar, founder member of the Association for Democratic Reform, an NGO, said the increasing burden on the government coffers in paying salaries and perks to MPs should be reviewed.
"There is no issue if the salary of MPs' is hiked 10 times but they must not get reimbursements for transport, house, vehicle, food, medical, air travel, telephone and other things from the state exchequer," he said.
Meet the new board members of IL&FS
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The government on Monday superseded the existing board of debt-laden Infrastructure Leasing & Financial Services (IL&FS) with six new board members. Apart from announcing Kotak Mahindra Bank MD Uday Kotak as Chairman of the board of cash-strapped infrastructure development and finance company, the government also nominated technocrats who have had varied experience in their careers.
With old members out and new members in, we bring you the details on who will lead the turnaround at IL&FS.
Uday Kotak
Managing Director and CEO of Kotak Mahindra Bank, Uday Kotak owns close to 30 per cent stake in the private lender. In 2016, Kotak was the sole Indian in Forbes' list of 40 of the most powerful people in the financial world. He headed the 21-member panel which was constituted by Securities Exchange Board of India (Sebi) on corporate governance reforms. The panel recommended limiting chairmanship to only non-executive directors and appointing at least one woman as independent director. Under Kotak's leadership, Kotak Mahindra Bank acquired ING Vysya Bank in 2014. Last year, Kotak sold a less than 1 per cent stake in Kotak Mahindra Bank for a whopping Rs 1,687 crore to comply with RBI's guidelines to cut promoter holding.
Ghyanendra Nath Bajpai
Former chairman of the Life Insurance Corporation of India (LIC), who went on to become chairman of capital market watchdog Sebi, Ghyanendra Nath Bajpai is known for his visionary leadership. Bajpai is a Non-Executive Director and Chairman of the Board of Directors of Future General India Insurance Company Ltd. He was also the chairman of the Corporate Governance Task Force of International Organization of Securities Commissions, Insurance Institute of India and served on the governing boards of Indian Institute of Management, Lucknow and National Insurance Academy.
Born in Kanpur in 1942, Bajpai joined the LIC in 1965 as assistant administrative officer. In September 2000, Bajpai became the chairman of LIC for a 25-month term.
Malini Shankar
Malini Shankar is an officer of the Indian Administrative Service (IAS), currently posted as the Director General, Shipping. Shankar obtained her doctoral degree in Public Policy/ Institutional Economics from the Indian Institute of Technology, Madras (India) and Management degree from the Asian Institute of Management, Manila, Philippines. She also holds a Master's Degree in Chemistry from Mount Holyoke College, Massachusetts, USA. She had her professional mid-career training at the IIAP (Institut Internationale d'Administration Publique), in Paris, France.
Shankar has been a Director at Sardar Sarovar Narmada Nigam Ltd. She served as a Director of Maharashtra State Financial Corporation from June 18, 2007 to February 15, 2010.
Vineet Nayyar
Vineet Nayyar is the Executive Vice Chairman of Tech Mahindra. In a career spanning over 40 years, Nayyar has worked with the Government of India, international multilateral agencies and in the corporate sector (both public and private). He played a crucial role in integrating scam-hit Satyam with Tech Mahindra.
He started his career with the Indian Administrative Service (IAS) and held a series of senior positions, including that of a District Magistrate, Secretary - Agriculture & Rural Development for the Government of Haryana and Director, Department of Economic Affairs, Government of India.
Nayyar was also the founding Chairman and Managing Director of the state-owned Gas Authority of India and has served as the Managing Director of HCL Corporation Ltd., and as the Vice Chairman of HCL Technologies Ltd. He was also a co-founder and Chief Executive Officer of HCL Perot Systems. He received a master's degree in development economics from Williams College, Massachusetts. Nayyar was awarded the Ernst and Young 'Entrepreneur of the year [Manager]' for the year 2013. Nayyar also served two tenures with the World Bank holding diverse portfolios including Director of Oil and Gas Department and Chief of Energy operations for East Asia and from 1978 to 1986.
Girish Chandra Chaturvedi
Girish Chandra Chaturvedi is the non-executive chairman of ICICI Bank. He is also the chairman and member of Warehousing Development and Regulatory Authority of India.
Chaturvedi is a former Indian Administrative Services officer who retired in January 2013 as Secretary, Ministry of Petroleum and Natural Gas. He has earlier served as Director (Government Nominee) on the Boards of Canara Bank, Bank of Baroda, IDBI Bank Ltd, IDFC Ltd, GIC Re of India, New India Assurance Co. Ltd, United India Insurance Co. Ltd, Agriculture Insurance Co. of India, Institute of Banking Personnel Selection and National Insurance Academy.
Chaturvedi did his post-graduation in Physics at University of Allahabad. He also has an M.Sc. Social Policy and Planning in Developing Countries from London School of Economics. He has also served as chairman of Pension Fund Regulatory & Development Authority, Petronet LNG Ltd, Indian Strategic Petroleum Reserves Ltd and Oil Industries Development Board.
Nand Kishore
Nand Kishore is a senior bureaucrat and former Deputy Comptroller and Auditor General (CAG). Kishore is a 1981 batch officer of Indian Audit and Account Service.
With old members out and new members in, we bring you the details on who will lead the turnaround at IL&FS.
Uday Kotak
Managing Director and CEO of Kotak Mahindra Bank, Uday Kotak owns close to 30 per cent stake in the private lender. In 2016, Kotak was the sole Indian in Forbes' list of 40 of the most powerful people in the financial world. He headed the 21-member panel which was constituted by Securities Exchange Board of India (Sebi) on corporate governance reforms. The panel recommended limiting chairmanship to only non-executive directors and appointing at least one woman as independent director. Under Kotak's leadership, Kotak Mahindra Bank acquired ING Vysya Bank in 2014. Last year, Kotak sold a less than 1 per cent stake in Kotak Mahindra Bank for a whopping Rs 1,687 crore to comply with RBI's guidelines to cut promoter holding.
Ghyanendra Nath Bajpai
Former chairman of the Life Insurance Corporation of India (LIC), who went on to become chairman of capital market watchdog Sebi, Ghyanendra Nath Bajpai is known for his visionary leadership. Bajpai is a Non-Executive Director and Chairman of the Board of Directors of Future General India Insurance Company Ltd. He was also the chairman of the Corporate Governance Task Force of International Organization of Securities Commissions, Insurance Institute of India and served on the governing boards of Indian Institute of Management, Lucknow and National Insurance Academy.
Born in Kanpur in 1942, Bajpai joined the LIC in 1965 as assistant administrative officer. In September 2000, Bajpai became the chairman of LIC for a 25-month term.
Malini Shankar
Malini Shankar is an officer of the Indian Administrative Service (IAS), currently posted as the Director General, Shipping. Shankar obtained her doctoral degree in Public Policy/ Institutional Economics from the Indian Institute of Technology, Madras (India) and Management degree from the Asian Institute of Management, Manila, Philippines. She also holds a Master's Degree in Chemistry from Mount Holyoke College, Massachusetts, USA. She had her professional mid-career training at the IIAP (Institut Internationale d'Administration Publique), in Paris, France.
Shankar has been a Director at Sardar Sarovar Narmada Nigam Ltd. She served as a Director of Maharashtra State Financial Corporation from June 18, 2007 to February 15, 2010.
Vineet Nayyar
Vineet Nayyar is the Executive Vice Chairman of Tech Mahindra. In a career spanning over 40 years, Nayyar has worked with the Government of India, international multilateral agencies and in the corporate sector (both public and private). He played a crucial role in integrating scam-hit Satyam with Tech Mahindra.
He started his career with the Indian Administrative Service (IAS) and held a series of senior positions, including that of a District Magistrate, Secretary - Agriculture & Rural Development for the Government of Haryana and Director, Department of Economic Affairs, Government of India.
Nayyar was also the founding Chairman and Managing Director of the state-owned Gas Authority of India and has served as the Managing Director of HCL Corporation Ltd., and as the Vice Chairman of HCL Technologies Ltd. He was also a co-founder and Chief Executive Officer of HCL Perot Systems. He received a master's degree in development economics from Williams College, Massachusetts. Nayyar was awarded the Ernst and Young 'Entrepreneur of the year [Manager]' for the year 2013. Nayyar also served two tenures with the World Bank holding diverse portfolios including Director of Oil and Gas Department and Chief of Energy operations for East Asia and from 1978 to 1986.
Girish Chandra Chaturvedi
Girish Chandra Chaturvedi is the non-executive chairman of ICICI Bank. He is also the chairman and member of Warehousing Development and Regulatory Authority of India.
Chaturvedi is a former Indian Administrative Services officer who retired in January 2013 as Secretary, Ministry of Petroleum and Natural Gas. He has earlier served as Director (Government Nominee) on the Boards of Canara Bank, Bank of Baroda, IDBI Bank Ltd, IDFC Ltd, GIC Re of India, New India Assurance Co. Ltd, United India Insurance Co. Ltd, Agriculture Insurance Co. of India, Institute of Banking Personnel Selection and National Insurance Academy.
Chaturvedi did his post-graduation in Physics at University of Allahabad. He also has an M.Sc. Social Policy and Planning in Developing Countries from London School of Economics. He has also served as chairman of Pension Fund Regulatory & Development Authority, Petronet LNG Ltd, Indian Strategic Petroleum Reserves Ltd and Oil Industries Development Board.
Nand Kishore
Nand Kishore is a senior bureaucrat and former Deputy Comptroller and Auditor General (CAG). Kishore is a 1981 batch officer of Indian Audit and Account Service.
Indians likely to benefit as UK unveils post-Brexit immigration plans
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British Prime Minister Theresa May on Tuesday unveiled a major post-Brexit overhaul of the UK's immigration system, which she said is aimed at a level playing field for nationals from all countries by ending "freedom of movement once and for all" for European Union (EU) citizens.
Indians may benefit from the new rules, which will focus on highly-skilled migration as opposed to low-skilled workers, but an added obligation on companies being required to sponsor families of such high-skilled professionals may prove a hurdle in the long term.
"When we leave (the EU) we will bring in a new immigration system that ends freedom of movement once and for all. For the first time in decades, it will be this country that controls and chooses who we want to come here," May said in a statement.
"It will be a skills-based system where it is workers' skills that matter, not where they come from. It will be a system that looks across the globe and attracts the people with the skills we need, she said.
"The UK government said the new so-called skills-based system will make sure low-skilled immigration is brought down and set the UK on the path to reduce immigration to sustainable levels," a key manifesto pledge of the ruling Conservative Party.
The new regime, details of which are yet to be fully specified, is expected to be in place by 2021 once the transition period for Britain's exit from the EU is complete.
Under rules for skilled workers, applicants will continue to be required to meet a minimum salary threshold, which may be hiked further, and have their families sponsored by their future employers.
"Successful applicants for high skilled work would be able to bring their immediate family but only if sponsored by their future employers," the government statement noted.
There are also plans to introduce in-country security checks to be carried out to make operations faster at passport control at the borders, a similar system of prior authorisation currently operated by the US.
This new swift system of e-gate visa checks for visitors coming into the UK on short-stay tourist or business trips will be limited to low risk countries , which is unlikely to include India.
The proposals follow a crucial government-commissioned report from the Migration Advisory Committee (MAC) last month, which had recommended that high-skilled workers must be given priority over visa applications from low-skilled workers.
The report was based on an immigration policy that had a level playing field for EU nationals and applicants from other countries, proposals which were accepted by the UK Cabinet last week.
A White Paper detailing exactly how the new system will work will be published in the coming weeks, ahead of a new Immigration Bill to be laid out before Parliament next year, the government said.
The announcement was widely expected since the Migration Advisory Committee had called for an end to preferential access to EU workers after Brexit.
Under the EU's current free movement rules, citizens from within the 28-member economic bloc have so far been able to enter the UK freely and look for work on arrival as opposed to strict visa norms that apply to non-EU workers from countries like India.
The current cap on skilled workers is set at 20,700 per year for migrants from non-EU countries like India, something the committee had recommended should be done away with.
However, whether this would ultimately benefit skilled professionals from countries like India will depend on the additional requirements imposed upon applicants and the UK-based companies seeking to employ them.
UK Home Secretary Sajid Javid will lay out some of the contours of the new plans as part of his speech to the ongoing Conservative Party annual conference in Birmingham later on Tuesday.
The major immigration overhaul announcement is being seen as a counter-point to the arrival at the conference of the British PM's key Brexit rival, former foreign secretary Boris Johnson, who is due to make a speech attacking her strategy on negotiating an exit deal with the EU.
The issue of migration continues to be a highly contentious one, with control over borders to end free movement of people from member-countries having played a crucial part in the campaign for leaving the EU in the June 2016 Brexit referendum.
Indians may benefit from the new rules, which will focus on highly-skilled migration as opposed to low-skilled workers, but an added obligation on companies being required to sponsor families of such high-skilled professionals may prove a hurdle in the long term.
"When we leave (the EU) we will bring in a new immigration system that ends freedom of movement once and for all. For the first time in decades, it will be this country that controls and chooses who we want to come here," May said in a statement.
"It will be a skills-based system where it is workers' skills that matter, not where they come from. It will be a system that looks across the globe and attracts the people with the skills we need, she said.
"The UK government said the new so-called skills-based system will make sure low-skilled immigration is brought down and set the UK on the path to reduce immigration to sustainable levels," a key manifesto pledge of the ruling Conservative Party.
The new regime, details of which are yet to be fully specified, is expected to be in place by 2021 once the transition period for Britain's exit from the EU is complete.
Under rules for skilled workers, applicants will continue to be required to meet a minimum salary threshold, which may be hiked further, and have their families sponsored by their future employers.
"Successful applicants for high skilled work would be able to bring their immediate family but only if sponsored by their future employers," the government statement noted.
There are also plans to introduce in-country security checks to be carried out to make operations faster at passport control at the borders, a similar system of prior authorisation currently operated by the US.
This new swift system of e-gate visa checks for visitors coming into the UK on short-stay tourist or business trips will be limited to low risk countries , which is unlikely to include India.
The proposals follow a crucial government-commissioned report from the Migration Advisory Committee (MAC) last month, which had recommended that high-skilled workers must be given priority over visa applications from low-skilled workers.
The report was based on an immigration policy that had a level playing field for EU nationals and applicants from other countries, proposals which were accepted by the UK Cabinet last week.
A White Paper detailing exactly how the new system will work will be published in the coming weeks, ahead of a new Immigration Bill to be laid out before Parliament next year, the government said.
The announcement was widely expected since the Migration Advisory Committee had called for an end to preferential access to EU workers after Brexit.
Under the EU's current free movement rules, citizens from within the 28-member economic bloc have so far been able to enter the UK freely and look for work on arrival as opposed to strict visa norms that apply to non-EU workers from countries like India.
The current cap on skilled workers is set at 20,700 per year for migrants from non-EU countries like India, something the committee had recommended should be done away with.
However, whether this would ultimately benefit skilled professionals from countries like India will depend on the additional requirements imposed upon applicants and the UK-based companies seeking to employ them.
UK Home Secretary Sajid Javid will lay out some of the contours of the new plans as part of his speech to the ongoing Conservative Party annual conference in Birmingham later on Tuesday.
The major immigration overhaul announcement is being seen as a counter-point to the arrival at the conference of the British PM's key Brexit rival, former foreign secretary Boris Johnson, who is due to make a speech attacking her strategy on negotiating an exit deal with the EU.
The issue of migration continues to be a highly contentious one, with control over borders to end free movement of people from member-countries having played a crucial part in the campaign for leaving the EU in the June 2016 Brexit referendum.
Made at a cost of Rs 90 lakh, Mumbai's most expensive toilet is now open for public use
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Mumbai's iconic promenade at Marine Drive now has a plush toilet to go with its surrounding art deco architecture. The toilet, made at an estimated cost of Rs 90 lakh, has earned the reputation of being the city's most expensive toilet. It was opened for public use on Tuesday.
Constructed under a Corporate Social Responsibility (CSR) initiative by the Jindal Group and Samatech, the swanky toilet has been handed over to the Brihanmumbai Municipal Corporation (BMC) for maintenance. The civic body will keep the facility free for use for the next two months after which it may levy a fee.
Usually, BMC spends around Rs 25-30 lakh on an average to construct a public toilet but the building material and designing came for free to the civic body. "Several other companies and consultants have contributed their expertise and materials free of cost for the [Marine Drive] project. The design of the toilet goes with the art deco architecture [around] and was built using weathering steel. It has solar panels installed on the roof which will generate enough power to illuminate the toilet," said Akshat Gupta, co-founder of Samatech, as mentioned in a report in Hindustan Times.
Yuvasena Chief @AUThackeray ji inaugurated the sustainable toilets at Marine Drive along with @Tarinijhanda ,These toilets are powered by solar panel, and has vacuum which saves water. @TheJSWGroup@AGSawant@PandurangSakpalpic.twitter.com/uMYilUNMbp
- Vishal Parab (@vishalparab16) October 1, 2018
Gupta also said that they have made sure that the waste is not disposed of in Marine Drive. The waste will be taken from the sewage tanks to BMC's sewage treatment plants.
Yuva Sena head Aaditya Thackeray who inaugurated the toilet on Monday said that keeping the toilet clean is the responsibility of citizens.
This is also the only public toilet in a 2.8 km radius of the promenade at Marine Drive.
According to the daily, a civic official who wished to remain anonymous said that the it would take BMC up to Rs 1 lakh per month including house-keeping services, sewage transport and maintenance of solar panels.
Constructed under a Corporate Social Responsibility (CSR) initiative by the Jindal Group and Samatech, the swanky toilet has been handed over to the Brihanmumbai Municipal Corporation (BMC) for maintenance. The civic body will keep the facility free for use for the next two months after which it may levy a fee.
Usually, BMC spends around Rs 25-30 lakh on an average to construct a public toilet but the building material and designing came for free to the civic body. "Several other companies and consultants have contributed their expertise and materials free of cost for the [Marine Drive] project. The design of the toilet goes with the art deco architecture [around] and was built using weathering steel. It has solar panels installed on the roof which will generate enough power to illuminate the toilet," said Akshat Gupta, co-founder of Samatech, as mentioned in a report in Hindustan Times.
Yuvasena Chief @AUThackeray ji inaugurated the sustainable toilets at Marine Drive along with @Tarinijhanda ,These toilets are powered by solar panel, and has vacuum which saves water. @TheJSWGroup@AGSawant@PandurangSakpalpic.twitter.com/uMYilUNMbp
- Vishal Parab (@vishalparab16) October 1, 2018
Gupta also said that they have made sure that the waste is not disposed of in Marine Drive. The waste will be taken from the sewage tanks to BMC's sewage treatment plants.
Yuva Sena head Aaditya Thackeray who inaugurated the toilet on Monday said that keeping the toilet clean is the responsibility of citizens.
This is also the only public toilet in a 2.8 km radius of the promenade at Marine Drive.
According to the daily, a civic official who wished to remain anonymous said that the it would take BMC up to Rs 1 lakh per month including house-keeping services, sewage transport and maintenance of solar panels.
Govt mulls 100% FDI in insurance broking
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The government is mulling permitting 100 per cent foreign direct investment (FDI) in insurance broking to give a boost to the sector, sources said.
The FDI policy, at present, allows 49 per cent foreign investment in the insurance sector that encompasses insurance broking, insurance companies, third party administrators, surveyors and loss assessors as defined by the Department of Industrial Policy and Promotion (DIPP).
The DIPP is an arm of the commerce and industry ministry which deals with FDI related matters and promoting ease of doing business in the country.
Representations have been made to the government time and again on the issue that insurance brokers should be treated at par with other financial services intermediaries, where 100 per cent FDI is permitted.
"Insurance broking is like any other financial or commodity broking services. The issue was recently discussed in a high level inter-ministerial meeting. The government is positively looking at the matter," sources said.
The official, however, clarified that the FDI cap for insurance companies would remain at 49 per cent.
The finance minister has recently held meeting on the subject and the Prime Minister's Office too has sought views of the DIPP on the matter.
Industry experts have stated that the insurance sector is being impacted due to weak distribution networks.
There is a need to strengthen the distribution network to support the sector as a whole. Insurance penetration in the country was 3.4 per cent in 2015 against the world average of 6.2 per cent.
The FDI policy, at present, allows 49 per cent foreign investment in the insurance sector that encompasses insurance broking, insurance companies, third party administrators, surveyors and loss assessors as defined by the Department of Industrial Policy and Promotion (DIPP).
The DIPP is an arm of the commerce and industry ministry which deals with FDI related matters and promoting ease of doing business in the country.
Representations have been made to the government time and again on the issue that insurance brokers should be treated at par with other financial services intermediaries, where 100 per cent FDI is permitted.
"Insurance broking is like any other financial or commodity broking services. The issue was recently discussed in a high level inter-ministerial meeting. The government is positively looking at the matter," sources said.
The official, however, clarified that the FDI cap for insurance companies would remain at 49 per cent.
The finance minister has recently held meeting on the subject and the Prime Minister's Office too has sought views of the DIPP on the matter.
Industry experts have stated that the insurance sector is being impacted due to weak distribution networks.
There is a need to strengthen the distribution network to support the sector as a whole. Insurance penetration in the country was 3.4 per cent in 2015 against the world average of 6.2 per cent.
General Awareness
Asian Development Bank (ADB)
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What to study?
For Prelims and Mains: Particulars and significance of the programme, and Key facts on ADB and SASEC.
Context: The Asian Development Bank (ADB) and the Government of lndia have signed a $150 Million Loan to finance continued improvements to road connectivity and efficiency of the International Trade Corridor in West Bengal and North-Eastern Region of lndia.
South Asia Sub-regional Economic Cooperation Road Connectivity lnvestment Program, approved in 2014, aims to expand about 500 kilometers of roads in lndia’s North Bengal and North-Eastern Region that will enable efficient and safe transport within lndia and regionally with other SASEC member countries.
The Program is an important initiative in Regional Connectivity aimed at increasing domestic and regional trade through North Bengal-North East Region International Trade corridor by upgrading key roads.
Significance of the project:
The Project will upgrade about 65 kilometers of lmphal-Moreh Section of National Highway in Manipur, construction of about 1.5 km of an international bridge between lndia and Nepal, and completion of about 103 km of a State Highway in Manipur between lmphal and Tamenglong under Project-I.
The Project will reduce transaction costs along the targeted cross-border corridors substantially, creating economies of scale and commercial prosperity.
Background:
Manipur being a landlocked state with almost 90% of the area under difficult terrain presently has only road transport as a means of mass transport system within the state. Hence development of the road infrastructure is of paramount importance to improve connectivity and progress of the State and to ensure that the administrative set up reaches the isolated and remote habitats.
About SASEC:
The SASEC programme of ADB was formed in 2001 in response to the request of Bangladesh, Bhutan, India and Nepal to assist in facilitating economic cooperation among them. Sri Lanka and Maldives joined the sub-regional group in 2014.
As a project-based partnership, SASEC programme has been helping enhance cross-border connectivity, facilitate faster and more efficient trade and promote cross-border power trade.
The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.
What to study?
For Prelims and Mains: Particulars and significance of the programme, and Key facts on ADB and SASEC.
Context: The Asian Development Bank (ADB) and the Government of lndia have signed a $150 Million Loan to finance continued improvements to road connectivity and efficiency of the International Trade Corridor in West Bengal and North-Eastern Region of lndia.
South Asia Sub-regional Economic Cooperation Road Connectivity lnvestment Program, approved in 2014, aims to expand about 500 kilometers of roads in lndia’s North Bengal and North-Eastern Region that will enable efficient and safe transport within lndia and regionally with other SASEC member countries.
The Program is an important initiative in Regional Connectivity aimed at increasing domestic and regional trade through North Bengal-North East Region International Trade corridor by upgrading key roads.
Significance of the project:
The Project will upgrade about 65 kilometers of lmphal-Moreh Section of National Highway in Manipur, construction of about 1.5 km of an international bridge between lndia and Nepal, and completion of about 103 km of a State Highway in Manipur between lmphal and Tamenglong under Project-I.
The Project will reduce transaction costs along the targeted cross-border corridors substantially, creating economies of scale and commercial prosperity.
Background:
Manipur being a landlocked state with almost 90% of the area under difficult terrain presently has only road transport as a means of mass transport system within the state. Hence development of the road infrastructure is of paramount importance to improve connectivity and progress of the State and to ensure that the administrative set up reaches the isolated and remote habitats.
About SASEC:
The SASEC programme of ADB was formed in 2001 in response to the request of Bangladesh, Bhutan, India and Nepal to assist in facilitating economic cooperation among them. Sri Lanka and Maldives joined the sub-regional group in 2014.
As a project-based partnership, SASEC programme has been helping enhance cross-border connectivity, facilitate faster and more efficient trade and promote cross-border power trade.
The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.
For Prelims and Mains: Particulars and significance of the programme, and Key facts on ADB and SASEC.
Context: The Asian Development Bank (ADB) and the Government of lndia have signed a $150 Million Loan to finance continued improvements to road connectivity and efficiency of the International Trade Corridor in West Bengal and North-Eastern Region of lndia.
South Asia Sub-regional Economic Cooperation Road Connectivity lnvestment Program, approved in 2014, aims to expand about 500 kilometers of roads in lndia’s North Bengal and North-Eastern Region that will enable efficient and safe transport within lndia and regionally with other SASEC member countries.
The Program is an important initiative in Regional Connectivity aimed at increasing domestic and regional trade through North Bengal-North East Region International Trade corridor by upgrading key roads.
Significance of the project:
The Project will upgrade about 65 kilometers of lmphal-Moreh Section of National Highway in Manipur, construction of about 1.5 km of an international bridge between lndia and Nepal, and completion of about 103 km of a State Highway in Manipur between lmphal and Tamenglong under Project-I.
The Project will reduce transaction costs along the targeted cross-border corridors substantially, creating economies of scale and commercial prosperity.
Background:
Manipur being a landlocked state with almost 90% of the area under difficult terrain presently has only road transport as a means of mass transport system within the state. Hence development of the road infrastructure is of paramount importance to improve connectivity and progress of the State and to ensure that the administrative set up reaches the isolated and remote habitats.
About SASEC:
The SASEC programme of ADB was formed in 2001 in response to the request of Bangladesh, Bhutan, India and Nepal to assist in facilitating economic cooperation among them. Sri Lanka and Maldives joined the sub-regional group in 2014.
As a project-based partnership, SASEC programme has been helping enhance cross-border connectivity, facilitate faster and more efficient trade and promote cross-border power trade.
The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.
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