RBI LAUNCHES OMBUDSMAN SCHEME FOR DIGITAL PAYMENTS
The Reserve Bank of India has launched the ombudsman scheme for digital payments the banking regulator announced in a release. It had first spoken about the scheme in the December 5 monetary policy statement promising to create a separate ombudsman for digital payments. As announced the Reserve Bank of India (RBI) launched the Ombudsman Scheme for Digital Transactions (OSDT) for redressal of complaints against System Participants as defined in the said scheme, said the regulator in a statement. Further the regulator added that the scheme will provide free of cost redressal mechanism to grievances raised by customers for digital transactions undertaken by them through non-banking channels, like mobile wallets or tech enabled payment companies using UPI for settlements. Transactions undertaken through the banking channels will still be managed by the banking ombudsman. Laying out the jurisdiction of the functioning, the RBI said that the new ombudsman will start working from the 21 existing offices of the Banking Ombudsman and work within the existing territorial jurisdictions.
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DATA NOT FINALISED, SAYS NITI AAYOG ABOUT REPORT ON UNEMPLOYMENT RISING
India's unemployment rate hit a 45-year high of 6.1 per cent in 2017, according to a report based on an official survey, which the government said was yet to be approved To compare, the unemployment rate in the country had gone down to 2.2 per cent in 2011-12, according to NSSO data. Rajiv Kumar, who had previously mounted a defence of lowering of UPA-era GDP growth rates, said the report cited by the newspaper is not finalised. It is a draft report. He said the government will release its employment report by March after collating quarter-on-quarter data. He also debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment. Amitabh Kant, who too was present at the conference, said India is creating adequate number of jobs for new entrants, but probably we are not creating high quality jobs. Two members -- including the acting chairman -- of the National Statistical Commission resigned this week, saying the government had not released the job numbers despite the commission's approval. The NSSO report was based on data collected between July 2017 and June 2018 and is the first official survey post-demonetisation. The news report further said that unemployment was higher in urban areas (7.8 per cent) as compared to 5.3 per cent in rural areas of the country.
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PLAYERS READY TO MIGRATE TO NEW TARIFF ORDER FROM FEBRUARY 1, SAYS TRAI
Telecom regulator Trai announced Thursday that all service providers have confirmed their readiness to migrate to the new tariff regime for broadcasting and cable services from Friday, and directed operators to ensure a smooth switchover without any inconvenience to TV viewers. While customer onboarding for cable services stands at about 62 per cent and for DTH at only 30 per cent, TRAI officials asserted that in case of the latter, the nature of the platform itself will ensure that the customer remains protected and does not face any disruption for the period the prepaid payment is valid. The services will continue till the next recharge for such customers. "The multiple system operators have also assured us that they will allow some channels to be available to customers to avoid any inconvenience, and they will also actively pursue customers to exercise their choice,” Trai Secretary S K Gupta said. Trai, which held a meeting with broadcasters, distribution platform operators (DPOs) and other players on Thursday to review their preparations for the migration said all operators have confirmed their preparedness to make the transition to the new framework from February 1. Trai has unveiled the new tariff order and regulatory regime for the broadcast and cable sector, which would pave the way for consumers to opt for channels they wish to view and pay only for them. It had said every channel should be offered a la carte, with a transparent display of rates on electronic programme guide. The Calcutta High Court, modifying its earlier stay order, on Thursday allowed Trai to bring into operation its new tariff regime and regulations for broadcast and cable sector from February 1. The TRAI had earlier planned implementation of the new regime from January 1, but later extended it by a month.
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GOVERNMENT HOLDS ALL PARTY LEADERS MEETING TO DISCUSS IMPORTANT ISSUES TO COME UP DURING INTERIM BUDGET SESSION OF PARLIAMENT 2019
“Government's focus lies on Issues of National Importance and finding solutions to problems of the people. The country expects from all of us to perform our duties as Parliamentarians in a positive manner and we must deliver to the expectations of the people” said Shri Narendra Modi. A host of issues were brought up by the leaders of parties during the meeting. The Prime Minister assured all leaders that issues raised by them would be taken into consideration by the Government and given due importance. The Government has requested all parties, especially the opposition, for their co-operation for the smooth functioning of both Houses of Parliament and is ready for a constructive discussion on every issue of national importance, as permitted under Rules of Procedure. There was a consensus across party lines on ensuring smooth functioning of the Parliament without disruptions and deadlocks to be resolved through constructive discussions in both the Houses. The Session will mainly be devoted to the Financial Business relating to Interim Budget for 2019 and discussion on the Motion of Thanks on President’s Address. However, essential Legislative and other Business will also be taken up during the Session. The Interim Budget for 2019 will be presented to Lok Sabha on Friday, 1stFebruary 2019, at 11.00 A.M. Three Bills to replace Ordinances namely
(i) the Muslim Women (Protection of Rights on Marriage) Ordinance, 2019;
(ii) the Indian Medical Council (Amendment) Ordinance, 2019; and
(iii) The Companies (Amendment) Ordinance, 2019are required to be passed during the Interim Budget Session, 2019 itself.
Further, some important pending legislations required to be considered and passed during the Session are the Juvenile Justice (Care and Protection of Children) Amendment Bill, 2018, the Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018, the Aadhar and Other Laws (Amendment) Bill, 2019, the Arbitration and Conciliation (Amendment) Bill, 2018, the New Delhi International Arbitration Centre Bill, 2019, the Consumer Protection Bill, 2018, the Dentists (Amendment) Bill, 2017, the DNA Technology (Use and Application) Regulation Bill, 2019, the Personal Laws (Amendment) Bill, 2019, the Jallianwala Bagh National Memorial (Amendment) Bill, 2018, the Citizenship (Amendment) Bill, 2019 and the National Medical Commission Bill, 2017.
LIST OF BILLS LIKELY TO BE TAKEN UP DURING
INTERIM BUDGET SESSION, 2019
I – LEGISLATIVE BUSINESS
• The Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2017.
• The Dentists (Amendment) Bill, 2017
• The Airports Economic Regulatory Authority of India (Amendment) Bill, 2018
• The Juvenile Justice (Care and Protection of Children) Amendment Bill, 2018
• The Protection of Human Rights (Amendment) Bill, 2018
• The Dam Safety Bill, 2018
• The Central Universities (Amendment) Bill, 2018
• The National Institute of Design (Amendment) Bill, 2018
• The Jallianwala Bagh National Memorial (Amendment) Bill, 2018
• The Trade Union (Amendment) Bill, 2019
• The Protection of Children from Sexual Offences (Amendment) Bill, 2019
• The Major Port Authorities Bill, 2016.
• The National Medical Commission Bill, 2017.
• The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2018
• The Lokpal and Lokayuktas and Other Related Law (Amendment) Bill, 2014.
• The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018
• The Representation of People (Amendment) Bill, 2018
• The Arbitration and Conciliation (Amendment) Bill, 2018
• The Transgender Persons (Protection of Rights) Bill, 2018
• The Surrogacy (Regulation) Bill, 2018
• The Consumer Protection Bill, 2018
• The Muslim Women (Protection on Marriage) Bill, 2018(To replace an Ordinance)
• The Indian Medical Council (Amendment) Bill, 2018(To replace an Ordinance)
• The Companies (Amendment) Bill, 2019(To replace an Ordinance)
• The Aadhaar and Other Laws (Amendment) Bill, 2019
• The New Delhi International Arbitration Centre Bill, 2019
• The Personal Laws (Amendment) Bill, 2019
• The DNA Technology (Use and Application) Regulation Bill, 2019
• The Constitution (Scheduled Tribes) Order (Amendment) Bill, 2019
• The Constitution (Scheduled Tribes) Order (Second Amendment) Bill, 2019
• The Motor Vehicles (Amendment) Bill, 2017.
• The Citizenship (Amendment) Bill, 2019
• The Ancient Monuments and Archaeological Sites and Remains (Amendment) Bill, 2018
• The Factories (Amendment) Bill, 2016
• The Whistle Blowers Protection (Amendment) Bill, 2015
• The Finance Bill, 2019.
• The National Commission for Yoga and Naturopathy (NCYN) Bill, 2019
• The Pharmacy Council of Indian Medicine and Homoeopathy Bill, 2019
• The Aircraft (Amendment) Bill 2019.
• The Information Technology (Amendment) Bill, 2019
• The Indian Stamp (Amendment) Bill, 2019
• The National Institute of Food Technology, Entrepreneurship and Management Bill, 2019
• The Unlawful Activities (Prevention) (Amendment) Bill, 2019
• The National Investigation Agency (Amendment) Bill, 2019
• National Council of Educational Research and Training Bill, 2019
• The Cinematograph (Amendment) Bill, 2019
II – FINACIAL BUSINESS
• Discussion and Voting on Third Batch Supplementary Demands for Grants for the 2018-19 and introduction, consideration and passing of the related Appropriation Bill.
• Discussion and Voting on Demands for Grants on Account for 2019-20 and introduction, consideration and passing of the related Appropriation Bill.
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DISAPPOINTED WITH GOVT MOVE TO BRING E-COMMERCE POLICY IN HASTE: FLIPKART
US retail giant Walmart-backed Flipkart on Friday said it is disappointed with the Indian government's decision to implement the changes in rules for e-commerce companies with foreign investment in "haste". The Bengaluru-based company added that it remains committed to compliance "despite the significant work that is required to change our supply chains and systems". Effective February 1, online marketplaces - Walmart-backed Flipkart and Amazon - will have to undertake massive restructuring of their operations in India to ensure compliance. We are disappointed that the government has decided to implement the regulation changes at such haste, but we are committed to doing everything we can to be compliant with the new rules," a Flipkart spokesperson said. The spokesperson added that despite the significant work required to change its supply chains and systems, the company remains confident that it will continue to serve its customers and sellers well.
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GDP GROWTH RATE FOR 2017-18 REVISED UPWARDS TO 7.2%
The government Thursday revised upwards the economic growth rate upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier. Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17, the CSO said. The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2018, said the Central Statistics Office (CSO). The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17. During 2017-18, the growth rates of primary (comprising agriculture, forestry, fishing and mining and quarrying), secondary (comprising manufacturing, electricity, gas, water supply and other utility services, and construction) and tertiary (services) sectors have been estimated as 5 per cent, 6 per cent and 8.1 per cent as against a growth of 6.8 per cent, 7.5 per cent and 8.4 per cent, respectively, in the previous year.
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INDIA'S SHARE IN GLOBAL GDP JUMPED FROM 2.6% IN 2014 TO 3.3% IN 2017: PREZ
President Ram Nath Kovind on Thursday said India's contribution to the global economy has increased from 2.6 per cent in 2014 to 3.3 per cent in 2017 on the back of high growth rate during the last four and a half years. He said the country's GDP has been growing at a rate of 7.3 per cent on an average, making India the sixth largest economy in the world. India is playing a significant role in international trade. The President noted that this is an opportune moment for the country to play a decisive role in the fourth industrial revolution. In the last four and a half years, my Government has infused new hope and confidence among the people of the country, enhanced the country's image and has effectively brought in social and economic change, he said. From day one, Kovind said the mission of Modi government based on transparency was to improve the lives of Indian citizens to eradicate their difficulties owing to poor governance, and to make sure that the benefit of public services reach the lowest strata of the society. The main goal of my government is to improve the life of every Indian, he insisted. The President said in order to simplify the processes, the Modi government has started a scheme wherein loans of amounts up to Rs 1 crore are approved within 59 minutes. Citing data from an international agency, he said of all the bank accounts opened in the world from 2014 to 2017, 55 per cent were opened in India alone. As a result of the expansion in direct benefit transfer (DBT) in the last four and a half years, more than Rs 6,05,000 crore have been directly transferred to the bank accounts of beneficiaries, Kovind said adding that because of this about Rs 1,10,000 crore have been saved from falling into wrong hands. The President said, 34 crore bank accounts have been opened in the country under the 'Jan Dhan Yojana' and almost every family is now connected to the banking system. The President also pointed out that the cost of one GB data which was about Rs 250 in 2014 has now reduced to only Rs 10 to 12.
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GOVERNMENT NOT TO EXTEND FEBRUARY 1 DEADLINE ON REVISED NORMS FOR E-TAILERS
The government Thursday said it will not extend the deadline of February 1 for implementing the revised guidelines for e-commerce companies having foreign direct investment. The Department for Promotion of Industry and Internal Trade (DPIIT) said it had received some representations to extend the deadline of February 1, 2019 to comply with the conditions contained in the Press Note 2 of 2018 series on FDI policy in e-commerce. After due consideration, it has been decided, with the approval of the competent authority, not to extend the deadline it said in a statement.
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AIR INDIA TO GET CAPITAL INFUSION TILL DIVESTMENT
The government will continue to give financial support to debt-ridden Air India, subject to stringent riders on efficiency improvement till the national carrier is divested a person privy to the discussions in the government said. A call on its eventual sale and the terms of the transaction will be taken in the second half of fiscal 2020. The government, which is trying to meet a disinvestment target of ?80,000 crore in fiscal 2019, will come out with a preliminary information document on to the sale of the carrier’s subsidiary Air India Air Transport Services Ltd, said the person mentioned above on condition of anonymity. The government is of the view that it has no choice but to provide financial support if it is not to shut the carrier down but this will be subject to achieving stringent efficiency parameters, said this person. Continued financial support has been necessitated after an attempt to sell majority shareholding in the carrier failed last year. The Union budget is likely to indicate token financial infusion to Air India for fiscal year 2020 though this could be revised.
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AT ALL-PARTY MEET, OPPOSITION INSISTS CONTROVERSIAL BILLS SHOULDN’T BE TAKEN UP
Mr. Azad said the Opposition has asked the government to take up only non-controversial bills for passage in Parliament in the Budget Session. We should take up only those bills which are not controversial on which there is total unanimity, the Leader of Opposition in Rajya Sabha told reporters after an all-party meeting in New Delhi. Mr. Azad also suggested that it will be difficult for Parliament to function if the government pushes for contentious bills
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MANUFACTURING PMI SURGES TO 53.9 IN JANUARY; FACTORY ORDERS EDGE HIGHER
The country's manufacturing sector activity edged higher in January as companies continued to scale up production and employment, driven by the fastest rise in factory orders since December 2017, a monthly survey said Friday. The Nikkei India Manufacturing Purchasing Managers' Index increased from 53.2 in December to 53.9 in January, indicating stronger improvement in the health of the goods producing sector. This is the 18th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. According to the survey, the increase in factory orders was the strongest seen in 13 months. Besides, favourable economic conditions, strengthening demand and sales growth also picked up in January. "The manufacturing industry in January made up for ground lost at the end of 2018, with new business and production expanding at rates not seen for over a year," Pollyanna De Lima, said, adding that it was largely domestic orders that fuelled the accelerations. On the employment front, Indian manufacturing firms added more staff owing to marked growth of new work orders. "Jobs increased for the tenth straight month, albeit only slightly," it noted. "The trend for employment remained encouraging, with job creation evident for the tenth month running. Further confidence in market conditions were shown by a rebound in business sentiment, which reached a five-month high. Firms are planning to increase marketing activity to further benefit from robust demand conditions and hence scale up production volumes," Lima said. The survey noted that inflationary pressures were negligible in the context of historical data.
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CONSUMER PRICE INDEX FOR INDUSTRIAL WORKERS (CPI-IW) - DECEMBER, 2018
The All-India CPI-IW for December, 2018 decreased by 1 point and pegged at 301 (three hundred and one). On 1-month percentage change, it decreased by (-) 0.33 percent between November, 2018 and December, 2018 when compared with the decrease of (-) 0.69 percent for the corresponding months of last year. The maximum downward pressure to the change in current index came from Food group contributing (-) 1.38 percentage points to the total change. The year-on-year inflation measured by monthly CPI-IW stood at 5.24 percent for December, 2018 as compared to 4.86 percent for the previous month and 4.00 percent during the corresponding month of the previous year. Similarly, the Food inflation stood at (-) 0.96 percent against (-) 1.57 percent of the previous month and 4.32 percent during the corresponding month of the previous year. Among others, 4 points decrease was observed in 3 centres, 3 points in 7 centres, 2 points in 16 centres and 1 point in 13 centres. On the contrary, Salem recorded a maximum increase of 6 points followed by Jalpaiguri (5 points). Among others, 2 points increase was observed in 4 centres and 1 point in 12 centres. Rest of the 15 centres' indices remained stationary.
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TREDS PLATFORM, INVOICEMART, ACHIEVES RS 2,000-CR BUSINESS VOLUME
Invoicemart, a digital invoice discounting platform for MSMEs, has achieved business volumes of over Rs 2,000 crore becoming the first TReDS platform to cross this milestone. It has taken just four months for this Trade Receivable Discounting System (TReDS) platform to double business volumes from Rs 1,000 crore, a milestone it achieved in September 2018. TReDS Ltd. (Invoicemart) said, The Government’s push to support MSMEs through various measures has resulted in many private and public sector corporates registering on our platform. We have seen an increase in the value and volume of transactions on a month-on-month basis; this trend may result in our achieving the initial estimate of 11,000 crore by March 2020. Since its launch in 2017, this platform has processed a record 1.4 lakh invoices, and more than 1,300 MSME sellers and 100 buyers have participated on it.
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ASHOK GEHLOT ANNOUNCES RAISE IN UNEMPLOYMENT ALLOWANCE FOR YOUTH
Ashok Gehlot on Thursday announced to raise the unemployment allowance for the youth of the state from March 1. Girls will get Rs 3,500 and boys Rs 3,000 as unemployment allowance for two years, he said. Gehlot said that the Congress in its election manifesto had promised to raise the unemployment allowance for the youth.
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NO POWER IN THE WORLD CAN STOP CONSTRUCTION OF RAM TEMPLE: GIRIRAJ SINGH
Union Minister Giriraj Singh Thursday said no power in the world can stop the construction of a Ram temple in Ayodhya. He said Lord Ram's identity is linked to the country and those viewing him with a religious lens are doing injustice to the nation. Therefore, the temple will be built 200 per cent, whether they (saints) march on February 21 or on another date. Swami Swaroopanand Saraswati on Wednesday said a ceremony to mark the start of construction of a Ram temple in Ayodhya will take place on February 21, even if those gathering there have to face bullets. The date for the planned ceremony, akin to a 'shilanyas', was announced at the end of a three-day congregation of seers at the Kumbh Mela.
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SC TO HEAR PLEAS SEEKING REVIEW OF SABARIMALA VERDICT ON FEB 6
A five-judge constitution bench of the Supreme Court would hear on February 6 a batch of petitions seeking review of its judgment allowing entry of women of all age groups into Kerala's Sabarimala temple. As per a notice uploaded on the apex court's website, the review petitions would be heard by a constitution bench comprising Chief Justice Ranjan Gogoi and Justices R F Nariman, A M Khanwilkar, D Y Chandrachud and Indu Malhotra. On September 28 last year, a five-judge constitution bench, headed by the then Chief Justice Dipak Misra, in a 4:1 verdict had paved the way for entry of women of all ages into the Sabarimala temple, saying the ban amounted to gender discrimination. The notion that the judgment under review is revolutionary, one which removes the stigma or the concept of dirt or pollution associated with menstruation, is unfounded, the association has said in its plea.
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ENGINEERING ASPIRANTS TAKE NOTE: IIT-DELHI TO IMPLEMENT 10% UPPER CASTE QUOTA FROM 2019-20, INCREASE SEATS BY 12.5%
The Indian Institute of Technology Delhi (IIT-D) has decided to increase its seats by 12.5 per cent in the academic year 2019-2020, as per the directions of the Ministry of Human Resource Development. The increase in the percentage of seats has been done to accommodate the 10 per cent quota for Economically Weaker Sections that the Parliament approved earlier this month. The institute will implement the EWS quota for upper castes beginning from the next academic year. The MHRD has directed all central educational institutions to introduce the 10 per cent quota from the new academic session starting in July, and finalise their implementation plan latest by March 31. He also said that the major requirement in terms of funds will be for hostels, as classroom space will not be an issue. Rao added that roughly they have 10,000 students and need to take in 2,500 more students. The large hostels have a capacity of about 800 students. So at least three more hostels are required. But as there is no space for new hostels, so there will need to demolish the 50-year-old hostels, which have about 300 seats and make larger hostels.
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SUBSIDISED LPG PRICE CUT BY RS 1.46; NON-SUBSIDISED RATE REDUCED BY RS 30 A CYLINDER
Domestic cooking gas (LPG) price was cut by Rs 1.46 per cylinder Thursday, the third straight reduction in a month's time due to tax impact on reduced market rate of the fuel. A 14.2-kg subsidised LPG cylinder will now cost Rs 493.53 in the national capital from midnight of Thursday as against Rs 494.99 currently, Indian Oil Corp (IOC), the country's largest fuel retailer, said in a statement. This is the third straight monthly reduction in LPG rate. On December 1, subsidised LPG price was cut by Rs 6.52 per bottle and by Rs 5.91 on January 1. IOC said non-subsidised or market priced LPG rates have been cut by a Rs 30 per cylinder due to fall in price of LPG in international market and strengthening of US dollar-rupee exchange rate. It will now cost Rs 659 per 14.2-kg cylinder in Delhi. The reduction comes on the back of a steep Rs 120.50 cut on January 1 and Rs 133 on December 1. Subsidised cooking gas consumers will get Rs 165.47 per cylinder subsidy in their bank accounts for the month of February, down from Rs 194.01 in January.
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MAHARASHTRA EXTENDS COMPENSATION DEADLINE TO DECEMBER 31 FOR ONION FARMERS
Maharashtra government extended the scope of the compensation that will be given to onion farmers. The state government had announced compensation of Rs 200/quintal for up to maximum 200 quintal per farmer for those farmers who had sold their onion between November 1 to December 15, 2018. Now, farmers who sold onions from December 15 to December 31 will also be eligible to get compensation. The Government Resolution issued said: As onion prices continued to remain subdued even after December 15, elected representatives, farmers and farmers’ organisations had demanded extension of the period of onion incentives to December 31. The minimum onion price at the benchmark Lasalgaon APMC in Nashik was Rs 1.51/kg, while the maximum price was Rs 7/kg on January 30, 2019.
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FRP: DEFAULTING SUGAR MILLS TO FACE ACTION
Following an intense agitation by sugarcane grower farmers demanding Fair and Remunerative Price (FRP) arrears, Maharashtra Sugar Commissioner Shekhar Gaikwad announced that stringent action would be taken against defaulting sugar mills. According to the Sugar Commissioner’s Office, 39 mills that have not paid even 25 per cent of FRP will face immediate action while other sugar mill owners will be summoned for an explanation. Once the Sugar Commissioner issues an order to initiate action, District Collectors can seize the sugar stock in mills and auction it in the market to pay dues to farmers. Farmers have suspended their agitation after the State’s assurance. However, action against sugar mills is likely to create a major political conflict as majority of sugar mills in the State are run by political bigwigs across party lines. Sugar mills have not paid FRP worth ?5,300 crore to sugarcane farmers in the State while farmers are demanding FRP in one go, per the Sugar Control Order.
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UP LOWERS ELECTRIFICATION TARGET, CLAIMS ALL HOUSEHOLDS ELECTRIFIED
The Bharatiya Janata Party (BJP) government in Uttar Pradesh has slashed its household electrification target from 12 million to 7.47 million, saying all households in the state have now been electrified under the Union government’s politically important Saubhagya scheme. Uttar Pradesh is key to the ?16,320 crore Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya) to provide all Indian households with electricity. The state returns the largest number of lawmakers to Parliament. As such, the move by the government acquires a political hue, especially in the run-up to the general elections due by April-May. The National Democratic Alliance wants to showcase its success in providing round-the-clock power across the country. Uttar Pradesh is crucial in this aspect as the state accounts for nearly a third of new connections provided to rural and urban households under Saubhagya. The Saubhagya scheme was to provide electricity connections to 40 million Indian homes by March 2019. However, this was aimed to be completed by December 2018, three months ahead of schedule. This target was reduced to 30 million rural and urban households after it was found that some households did not exist, or had already been electrified, according to Union government officials. Now, the target has come down to 24.847 million households. The drop in the number of targeted households is because of a combination of factors, according to Uttar Pradesh Power Corp. Ltd chairman Alok Kumar. These include illegal connections, multiple households staying together in one house and using a single connection (around 1 million such connections), and overlaps such as the same identified connections being provided by the state government before the launch of the Saubhagya scheme in 2017, he said earlier this month. There is a question mark over the Uttar Pradesh government reducing its target of household electrification. There are around 3.5 million ‘unwilling’ households (those whose connections have not been regularized), a Union government official said. There is a huge political-economy behind these connections and hence this new category of ‘unwilling’ consumers, said the official mentioned above. Subsequent to the electrification of all households, the challenge would be to retain the formalization of close to 25% illegal connections, said Sambitosh Mohapatra, partner (advisory, power and utilities), PricewaterhouseCoopers (PwC) India, the programme manager for implementing the scheme in UP. The Yogi Adityanath government has provided electricity connections to 9.4 million households since coming to power in March 2017, with an additional million connections expected to be given, said Kumar. This is not the end. We will keep on providing connections. Both the government of India and the state government are committed to providing connections to the willing customers, Kumar said.
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IT MIGHT GET TOUGHER BEFORE IT GETS BETTER: JET AIRWAYS CEO TELLS EMPLOYEES IN LETTER
The debt-laden Jet Airways CEO Vinay Dube has asked company employees to brace for tougher times ahead before things get better for the ailing airline. In a letter written to his employees, Dube also said that the finalisation of the resolution plan is very close. “The airline’s key stakeholders are actively engaged towards finalisation of the Resolution Plan. We are very close, and I ask for your continued patience. Given our ongoing challenges, this is a very tall ask,” Dube wrote in his letter. “We are a part of the country’s economic engine and I believe we will come out of our current set of challenges. It might get tougher before it gets better, and our ascendancy will be gradual,” he added.
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AMAZON PULLS SEVERAL ITEMS FROM INDIA WEBSITE AS NEW E-COMMERCE RULES BITE
E-commerce rules that went into effect in India on Friday caused widespread disruption for Amazon.com, forcing it to take down an array of items from its India website including Echo speakers, batteries and floor cleaners. Two sources with direct knowledge of the matter said the products began to disappear from the Amazon India website late on Thursday as it began complying with the revised norms before a midnight deadline. "The company has no choice, they are fulfilling a compliance requirement customers will suffer," said one of the sources. India's new e-commerce investment rules bar online retailers from selling products via vendors in which they have an equity interest, and also from making deals with sellers to sell exclusively on their platforms. By Thursday, numerous items sold by vendors such as Cloudtail, in which Amazon holds an indirect equity stake, were no longer available on the Amazon India site. Clothing from Indian department store chain Shopper's Stop was also no longer available, as Amazon owns 5 percent of the company. The situation in India is "a bit fluid right now," but the country remains a good long-term opportunity, Amazon Chief Financial Officer Brian Olsavsky said on a conference call with reporters following its fourth-quarter earnings announcement.
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SWACHH BHARAT MISSION SCALES UP WASTE MANAGEMENT IN RURAL INDIA
Parameswaran Iyer, reiterated the SBMG's continued commitment to SLWM and shared an overview of the various ongoing initiatives of the Ministry He said that the Mission is on track to deliver an Open Defecation Free (ODF) India well before the set deadline of October 2019 and is focusing increasingly on sustaining the ODF outcomes and ODF-plus activities including SLWM. During the course of the workshop, the district representatives prepared action plans and roadmap towards implementing 46 FSM and GOBAR-DHAN projects in their districts in coordination with the technical experts at the central and State levels. The experts on FSM shared various technological and operational models, specific to different geographic terrains and climatic conditions. Innovative Solid Waste Management initiatives from across the country were shared by the States. This included transforming waste into construction bricks and fuel during the harsh winters in Leh district in Jammu and Kashmir. Kerala showcased the “Green Protocol” being implemented in Thiruvananthapuram district using the 3Rs (Reduce, Reuse and Recycle) to minimize waste generation. Rajgarh district from Madhya Pradesh presented the experience of successfully implementing the GOBAR-DHAN project.
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PETROTECH-2019, THE 13TH INTERNATIONAL OIL & GAS CONFERENCE & EXHIBITION, TO BE ORGANISED FROM 10TH TO 12TH FEBRUARY, 2019
PETROTECH-2019, the 13th International Oil & Gas Conference & Exhibition, being organised under the aegis of the Ministry of Petroleum & Natural Gas, Government of India, is all set to be inaugurated on February 10, 2019. Over 95 Energy Ministers from partner countries have been invited by the Minister for Petroleum and Natural Gas to participate in the Conference. Thethree-day mega event will showcase the recent market and investor friendly developments that have taken place in the India’s oil and gas sector. It is expected to see participation of over 86 eminent speakers and 7000 delegates from around 70 countries, including technologists, scientists, planners, policy-makers, management experts, entrepreneurs, service-providers and vendors. The PETROTECH 2019 exhibition will focus on development in technologies for exploration & production, process control, refining and pipeline and services, systems, products, oil field hardware, software, analytical instruments, Renewable, R&D, HSE, training and publications of technical literature. Exhibition will remain open to visitors from 1000 hrs to 1800 hrs on 10th & 11th February, and up to 1400 hrs on 12 February 2019.
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STERLITE CASE: TN GOVT ACCUSES VEDANTA OF INDULGING IN QUICK-FIXES FOR ENVIRONMENTAL VIOLATIONS
Tamil Nadu government accused Vedanta in the Supreme Court of indulging in quick-fixes every time an environmental violation regarding the operation of its Sterlite copper plant was pointed out. Vedanta countered that the State was bent on harassing the company for political motives. Arguing before a Bench of Justices Rohinton F. Nariman and Navin Sinha, senior advocate Guru Krishnakumar said the State could not have been expected to be a mute spectator to continued environmental violations by the Sterlite plant. Am I as a regulator supposed to let them keep on doing it? Mr. Krishnakumar asked in court on Thursday. So, you said enough is enough Justice Nariman asked with a smile. Rebutting, senior advocate C.A. Sundaram, for Vedanta, said the company has been a victim of harassment from the State Tamil Nadu government govt gave me a bad name and hung me by it. Pollution reports shown now are dated six months after I had shut down operations. They ignored my appeals for daily maintenance to prevent sulphuric acid leaks for fear of loss of face. It was all political for them, Mr. Sundaram countered. Mr. Sundaram submitted that both times the State had accused the plant of breaking pollution norms and ordered its closure the plant had already been shut down for the purpose of maintenance. I was not operating in those months when the government ordered my closure. If I was already closed for maintenance, how is it that they concluded I was polluting? Mr. Sundaram asked. In Dharmapuri, there are industries in the thousands. TDS rate is high. So what are they (State) going to do? Close it all? I have been harassed for political motives. All this links to the election year of 1996, Mr. Sundaram argued. The Tamil Nadu government has alleged in the Supreme Court that pollution from Vedanta's Sterlite copper plant in Thoothukudi went up steadily along with increase in production.
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THAILAND E-VISA ON ARRIVAL FEE DIFFERENT TILL APRIL 30, 2019: VFS
The e-visa on arrival (VoA) for Thailand to avoid the long VoA queues at airports there will cost more than the latter. While the standard eVoA will cost Thai Baht (TBH) 2,600 (about Rs 5,900 at Wednesday exchange rate), the regular VoA fees to be paid after landing in Thailand is TBH 2,000 (about Rs 4,540) — a difference of about Rs 1,360 per passenger. The eVoA service will be in place from February 14 under which the official standard travel authorisation from Immigration Bureau of Thailand is received before starting the journey within 24 to 72 hours. In a bid to boost tourism, Thailand had waived VoA fees for tourists from 20 nations, including Indians, from November 15 to January 13. It has extended the waiver of VoA fees for these 20 nationalities up to April 30, 2019, who are going for tourism there for upto 15 days. For this particular VoA fee waiver period, the eVoA fee will be different. A statement from VFS Global on Thursday said: With the extension of Visa On Arrival fee waiver of 2000 THB to travel to Thailand until April 30, 2019, eligible travellers from 21 countries who avail the eVoA (e Visa on Arrival) service will only have to pay the service charge basis the category applied, during this period. Till April 30, 2019, travellers who opt for the Standard Thailand eVisa on Arrival service will have to only pay the service fee of 600 TBH. Express eVisa on Arrival applicants will only have to pay the service fee of 2,500 TBH online. Thailand tied up with VFS to introduce a eVoA for 21 nationalities, that will allow travellers to receive their travel authorisation online pre-departure within 24 to 72 hours of application being submitted and then get a faster immigration service at dedicated immigration counters at major airports in Thailand. The idea: skip long queues for getting the VoA at Thailand’s major airports.
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CS Meetesh Shiroya
The Reserve Bank of India has launched the ombudsman scheme for digital payments the banking regulator announced in a release. It had first spoken about the scheme in the December 5 monetary policy statement promising to create a separate ombudsman for digital payments. As announced the Reserve Bank of India (RBI) launched the Ombudsman Scheme for Digital Transactions (OSDT) for redressal of complaints against System Participants as defined in the said scheme, said the regulator in a statement. Further the regulator added that the scheme will provide free of cost redressal mechanism to grievances raised by customers for digital transactions undertaken by them through non-banking channels, like mobile wallets or tech enabled payment companies using UPI for settlements. Transactions undertaken through the banking channels will still be managed by the banking ombudsman. Laying out the jurisdiction of the functioning, the RBI said that the new ombudsman will start working from the 21 existing offices of the Banking Ombudsman and work within the existing territorial jurisdictions.
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DATA NOT FINALISED, SAYS NITI AAYOG ABOUT REPORT ON UNEMPLOYMENT RISING
India's unemployment rate hit a 45-year high of 6.1 per cent in 2017, according to a report based on an official survey, which the government said was yet to be approved To compare, the unemployment rate in the country had gone down to 2.2 per cent in 2011-12, according to NSSO data. Rajiv Kumar, who had previously mounted a defence of lowering of UPA-era GDP growth rates, said the report cited by the newspaper is not finalised. It is a draft report. He said the government will release its employment report by March after collating quarter-on-quarter data. He also debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment. Amitabh Kant, who too was present at the conference, said India is creating adequate number of jobs for new entrants, but probably we are not creating high quality jobs. Two members -- including the acting chairman -- of the National Statistical Commission resigned this week, saying the government had not released the job numbers despite the commission's approval. The NSSO report was based on data collected between July 2017 and June 2018 and is the first official survey post-demonetisation. The news report further said that unemployment was higher in urban areas (7.8 per cent) as compared to 5.3 per cent in rural areas of the country.
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PLAYERS READY TO MIGRATE TO NEW TARIFF ORDER FROM FEBRUARY 1, SAYS TRAI
Telecom regulator Trai announced Thursday that all service providers have confirmed their readiness to migrate to the new tariff regime for broadcasting and cable services from Friday, and directed operators to ensure a smooth switchover without any inconvenience to TV viewers. While customer onboarding for cable services stands at about 62 per cent and for DTH at only 30 per cent, TRAI officials asserted that in case of the latter, the nature of the platform itself will ensure that the customer remains protected and does not face any disruption for the period the prepaid payment is valid. The services will continue till the next recharge for such customers. "The multiple system operators have also assured us that they will allow some channels to be available to customers to avoid any inconvenience, and they will also actively pursue customers to exercise their choice,” Trai Secretary S K Gupta said. Trai, which held a meeting with broadcasters, distribution platform operators (DPOs) and other players on Thursday to review their preparations for the migration said all operators have confirmed their preparedness to make the transition to the new framework from February 1. Trai has unveiled the new tariff order and regulatory regime for the broadcast and cable sector, which would pave the way for consumers to opt for channels they wish to view and pay only for them. It had said every channel should be offered a la carte, with a transparent display of rates on electronic programme guide. The Calcutta High Court, modifying its earlier stay order, on Thursday allowed Trai to bring into operation its new tariff regime and regulations for broadcast and cable sector from February 1. The TRAI had earlier planned implementation of the new regime from January 1, but later extended it by a month.
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GOVERNMENT HOLDS ALL PARTY LEADERS MEETING TO DISCUSS IMPORTANT ISSUES TO COME UP DURING INTERIM BUDGET SESSION OF PARLIAMENT 2019
“Government's focus lies on Issues of National Importance and finding solutions to problems of the people. The country expects from all of us to perform our duties as Parliamentarians in a positive manner and we must deliver to the expectations of the people” said Shri Narendra Modi. A host of issues were brought up by the leaders of parties during the meeting. The Prime Minister assured all leaders that issues raised by them would be taken into consideration by the Government and given due importance. The Government has requested all parties, especially the opposition, for their co-operation for the smooth functioning of both Houses of Parliament and is ready for a constructive discussion on every issue of national importance, as permitted under Rules of Procedure. There was a consensus across party lines on ensuring smooth functioning of the Parliament without disruptions and deadlocks to be resolved through constructive discussions in both the Houses. The Session will mainly be devoted to the Financial Business relating to Interim Budget for 2019 and discussion on the Motion of Thanks on President’s Address. However, essential Legislative and other Business will also be taken up during the Session. The Interim Budget for 2019 will be presented to Lok Sabha on Friday, 1stFebruary 2019, at 11.00 A.M. Three Bills to replace Ordinances namely
(i) the Muslim Women (Protection of Rights on Marriage) Ordinance, 2019;
(ii) the Indian Medical Council (Amendment) Ordinance, 2019; and
(iii) The Companies (Amendment) Ordinance, 2019are required to be passed during the Interim Budget Session, 2019 itself.
Further, some important pending legislations required to be considered and passed during the Session are the Juvenile Justice (Care and Protection of Children) Amendment Bill, 2018, the Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018, the Aadhar and Other Laws (Amendment) Bill, 2019, the Arbitration and Conciliation (Amendment) Bill, 2018, the New Delhi International Arbitration Centre Bill, 2019, the Consumer Protection Bill, 2018, the Dentists (Amendment) Bill, 2017, the DNA Technology (Use and Application) Regulation Bill, 2019, the Personal Laws (Amendment) Bill, 2019, the Jallianwala Bagh National Memorial (Amendment) Bill, 2018, the Citizenship (Amendment) Bill, 2019 and the National Medical Commission Bill, 2017.
LIST OF BILLS LIKELY TO BE TAKEN UP DURING
INTERIM BUDGET SESSION, 2019
I – LEGISLATIVE BUSINESS
• The Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2017.
• The Dentists (Amendment) Bill, 2017
• The Airports Economic Regulatory Authority of India (Amendment) Bill, 2018
• The Juvenile Justice (Care and Protection of Children) Amendment Bill, 2018
• The Protection of Human Rights (Amendment) Bill, 2018
• The Dam Safety Bill, 2018
• The Central Universities (Amendment) Bill, 2018
• The National Institute of Design (Amendment) Bill, 2018
• The Jallianwala Bagh National Memorial (Amendment) Bill, 2018
• The Trade Union (Amendment) Bill, 2019
• The Protection of Children from Sexual Offences (Amendment) Bill, 2019
• The Major Port Authorities Bill, 2016.
• The National Medical Commission Bill, 2017.
• The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2018
• The Lokpal and Lokayuktas and Other Related Law (Amendment) Bill, 2014.
• The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018
• The Representation of People (Amendment) Bill, 2018
• The Arbitration and Conciliation (Amendment) Bill, 2018
• The Transgender Persons (Protection of Rights) Bill, 2018
• The Surrogacy (Regulation) Bill, 2018
• The Consumer Protection Bill, 2018
• The Muslim Women (Protection on Marriage) Bill, 2018(To replace an Ordinance)
• The Indian Medical Council (Amendment) Bill, 2018(To replace an Ordinance)
• The Companies (Amendment) Bill, 2019(To replace an Ordinance)
• The Aadhaar and Other Laws (Amendment) Bill, 2019
• The New Delhi International Arbitration Centre Bill, 2019
• The Personal Laws (Amendment) Bill, 2019
• The DNA Technology (Use and Application) Regulation Bill, 2019
• The Constitution (Scheduled Tribes) Order (Amendment) Bill, 2019
• The Constitution (Scheduled Tribes) Order (Second Amendment) Bill, 2019
• The Motor Vehicles (Amendment) Bill, 2017.
• The Citizenship (Amendment) Bill, 2019
• The Ancient Monuments and Archaeological Sites and Remains (Amendment) Bill, 2018
• The Factories (Amendment) Bill, 2016
• The Whistle Blowers Protection (Amendment) Bill, 2015
• The Finance Bill, 2019.
• The National Commission for Yoga and Naturopathy (NCYN) Bill, 2019
• The Pharmacy Council of Indian Medicine and Homoeopathy Bill, 2019
• The Aircraft (Amendment) Bill 2019.
• The Information Technology (Amendment) Bill, 2019
• The Indian Stamp (Amendment) Bill, 2019
• The National Institute of Food Technology, Entrepreneurship and Management Bill, 2019
• The Unlawful Activities (Prevention) (Amendment) Bill, 2019
• The National Investigation Agency (Amendment) Bill, 2019
• National Council of Educational Research and Training Bill, 2019
• The Cinematograph (Amendment) Bill, 2019
II – FINACIAL BUSINESS
• Discussion and Voting on Third Batch Supplementary Demands for Grants for the 2018-19 and introduction, consideration and passing of the related Appropriation Bill.
• Discussion and Voting on Demands for Grants on Account for 2019-20 and introduction, consideration and passing of the related Appropriation Bill.
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DISAPPOINTED WITH GOVT MOVE TO BRING E-COMMERCE POLICY IN HASTE: FLIPKART
US retail giant Walmart-backed Flipkart on Friday said it is disappointed with the Indian government's decision to implement the changes in rules for e-commerce companies with foreign investment in "haste". The Bengaluru-based company added that it remains committed to compliance "despite the significant work that is required to change our supply chains and systems". Effective February 1, online marketplaces - Walmart-backed Flipkart and Amazon - will have to undertake massive restructuring of their operations in India to ensure compliance. We are disappointed that the government has decided to implement the regulation changes at such haste, but we are committed to doing everything we can to be compliant with the new rules," a Flipkart spokesperson said. The spokesperson added that despite the significant work required to change its supply chains and systems, the company remains confident that it will continue to serve its customers and sellers well.
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GDP GROWTH RATE FOR 2017-18 REVISED UPWARDS TO 7.2%
The government Thursday revised upwards the economic growth rate upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier. Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17, the CSO said. The First Revised Estimates for 2017-18 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2018, said the Central Statistics Office (CSO). The CSO has also released the Second Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for 2016-17. During 2017-18, the growth rates of primary (comprising agriculture, forestry, fishing and mining and quarrying), secondary (comprising manufacturing, electricity, gas, water supply and other utility services, and construction) and tertiary (services) sectors have been estimated as 5 per cent, 6 per cent and 8.1 per cent as against a growth of 6.8 per cent, 7.5 per cent and 8.4 per cent, respectively, in the previous year.
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INDIA'S SHARE IN GLOBAL GDP JUMPED FROM 2.6% IN 2014 TO 3.3% IN 2017: PREZ
President Ram Nath Kovind on Thursday said India's contribution to the global economy has increased from 2.6 per cent in 2014 to 3.3 per cent in 2017 on the back of high growth rate during the last four and a half years. He said the country's GDP has been growing at a rate of 7.3 per cent on an average, making India the sixth largest economy in the world. India is playing a significant role in international trade. The President noted that this is an opportune moment for the country to play a decisive role in the fourth industrial revolution. In the last four and a half years, my Government has infused new hope and confidence among the people of the country, enhanced the country's image and has effectively brought in social and economic change, he said. From day one, Kovind said the mission of Modi government based on transparency was to improve the lives of Indian citizens to eradicate their difficulties owing to poor governance, and to make sure that the benefit of public services reach the lowest strata of the society. The main goal of my government is to improve the life of every Indian, he insisted. The President said in order to simplify the processes, the Modi government has started a scheme wherein loans of amounts up to Rs 1 crore are approved within 59 minutes. Citing data from an international agency, he said of all the bank accounts opened in the world from 2014 to 2017, 55 per cent were opened in India alone. As a result of the expansion in direct benefit transfer (DBT) in the last four and a half years, more than Rs 6,05,000 crore have been directly transferred to the bank accounts of beneficiaries, Kovind said adding that because of this about Rs 1,10,000 crore have been saved from falling into wrong hands. The President said, 34 crore bank accounts have been opened in the country under the 'Jan Dhan Yojana' and almost every family is now connected to the banking system. The President also pointed out that the cost of one GB data which was about Rs 250 in 2014 has now reduced to only Rs 10 to 12.
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GOVERNMENT NOT TO EXTEND FEBRUARY 1 DEADLINE ON REVISED NORMS FOR E-TAILERS
The government Thursday said it will not extend the deadline of February 1 for implementing the revised guidelines for e-commerce companies having foreign direct investment. The Department for Promotion of Industry and Internal Trade (DPIIT) said it had received some representations to extend the deadline of February 1, 2019 to comply with the conditions contained in the Press Note 2 of 2018 series on FDI policy in e-commerce. After due consideration, it has been decided, with the approval of the competent authority, not to extend the deadline it said in a statement.
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AIR INDIA TO GET CAPITAL INFUSION TILL DIVESTMENT
The government will continue to give financial support to debt-ridden Air India, subject to stringent riders on efficiency improvement till the national carrier is divested a person privy to the discussions in the government said. A call on its eventual sale and the terms of the transaction will be taken in the second half of fiscal 2020. The government, which is trying to meet a disinvestment target of ?80,000 crore in fiscal 2019, will come out with a preliminary information document on to the sale of the carrier’s subsidiary Air India Air Transport Services Ltd, said the person mentioned above on condition of anonymity. The government is of the view that it has no choice but to provide financial support if it is not to shut the carrier down but this will be subject to achieving stringent efficiency parameters, said this person. Continued financial support has been necessitated after an attempt to sell majority shareholding in the carrier failed last year. The Union budget is likely to indicate token financial infusion to Air India for fiscal year 2020 though this could be revised.
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AT ALL-PARTY MEET, OPPOSITION INSISTS CONTROVERSIAL BILLS SHOULDN’T BE TAKEN UP
Mr. Azad said the Opposition has asked the government to take up only non-controversial bills for passage in Parliament in the Budget Session. We should take up only those bills which are not controversial on which there is total unanimity, the Leader of Opposition in Rajya Sabha told reporters after an all-party meeting in New Delhi. Mr. Azad also suggested that it will be difficult for Parliament to function if the government pushes for contentious bills
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MANUFACTURING PMI SURGES TO 53.9 IN JANUARY; FACTORY ORDERS EDGE HIGHER
The country's manufacturing sector activity edged higher in January as companies continued to scale up production and employment, driven by the fastest rise in factory orders since December 2017, a monthly survey said Friday. The Nikkei India Manufacturing Purchasing Managers' Index increased from 53.2 in December to 53.9 in January, indicating stronger improvement in the health of the goods producing sector. This is the 18th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. According to the survey, the increase in factory orders was the strongest seen in 13 months. Besides, favourable economic conditions, strengthening demand and sales growth also picked up in January. "The manufacturing industry in January made up for ground lost at the end of 2018, with new business and production expanding at rates not seen for over a year," Pollyanna De Lima, said, adding that it was largely domestic orders that fuelled the accelerations. On the employment front, Indian manufacturing firms added more staff owing to marked growth of new work orders. "Jobs increased for the tenth straight month, albeit only slightly," it noted. "The trend for employment remained encouraging, with job creation evident for the tenth month running. Further confidence in market conditions were shown by a rebound in business sentiment, which reached a five-month high. Firms are planning to increase marketing activity to further benefit from robust demand conditions and hence scale up production volumes," Lima said. The survey noted that inflationary pressures were negligible in the context of historical data.
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CONSUMER PRICE INDEX FOR INDUSTRIAL WORKERS (CPI-IW) - DECEMBER, 2018
The All-India CPI-IW for December, 2018 decreased by 1 point and pegged at 301 (three hundred and one). On 1-month percentage change, it decreased by (-) 0.33 percent between November, 2018 and December, 2018 when compared with the decrease of (-) 0.69 percent for the corresponding months of last year. The maximum downward pressure to the change in current index came from Food group contributing (-) 1.38 percentage points to the total change. The year-on-year inflation measured by monthly CPI-IW stood at 5.24 percent for December, 2018 as compared to 4.86 percent for the previous month and 4.00 percent during the corresponding month of the previous year. Similarly, the Food inflation stood at (-) 0.96 percent against (-) 1.57 percent of the previous month and 4.32 percent during the corresponding month of the previous year. Among others, 4 points decrease was observed in 3 centres, 3 points in 7 centres, 2 points in 16 centres and 1 point in 13 centres. On the contrary, Salem recorded a maximum increase of 6 points followed by Jalpaiguri (5 points). Among others, 2 points increase was observed in 4 centres and 1 point in 12 centres. Rest of the 15 centres' indices remained stationary.
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TREDS PLATFORM, INVOICEMART, ACHIEVES RS 2,000-CR BUSINESS VOLUME
Invoicemart, a digital invoice discounting platform for MSMEs, has achieved business volumes of over Rs 2,000 crore becoming the first TReDS platform to cross this milestone. It has taken just four months for this Trade Receivable Discounting System (TReDS) platform to double business volumes from Rs 1,000 crore, a milestone it achieved in September 2018. TReDS Ltd. (Invoicemart) said, The Government’s push to support MSMEs through various measures has resulted in many private and public sector corporates registering on our platform. We have seen an increase in the value and volume of transactions on a month-on-month basis; this trend may result in our achieving the initial estimate of 11,000 crore by March 2020. Since its launch in 2017, this platform has processed a record 1.4 lakh invoices, and more than 1,300 MSME sellers and 100 buyers have participated on it.
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ASHOK GEHLOT ANNOUNCES RAISE IN UNEMPLOYMENT ALLOWANCE FOR YOUTH
Ashok Gehlot on Thursday announced to raise the unemployment allowance for the youth of the state from March 1. Girls will get Rs 3,500 and boys Rs 3,000 as unemployment allowance for two years, he said. Gehlot said that the Congress in its election manifesto had promised to raise the unemployment allowance for the youth.
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NO POWER IN THE WORLD CAN STOP CONSTRUCTION OF RAM TEMPLE: GIRIRAJ SINGH
Union Minister Giriraj Singh Thursday said no power in the world can stop the construction of a Ram temple in Ayodhya. He said Lord Ram's identity is linked to the country and those viewing him with a religious lens are doing injustice to the nation. Therefore, the temple will be built 200 per cent, whether they (saints) march on February 21 or on another date. Swami Swaroopanand Saraswati on Wednesday said a ceremony to mark the start of construction of a Ram temple in Ayodhya will take place on February 21, even if those gathering there have to face bullets. The date for the planned ceremony, akin to a 'shilanyas', was announced at the end of a three-day congregation of seers at the Kumbh Mela.
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SC TO HEAR PLEAS SEEKING REVIEW OF SABARIMALA VERDICT ON FEB 6
A five-judge constitution bench of the Supreme Court would hear on February 6 a batch of petitions seeking review of its judgment allowing entry of women of all age groups into Kerala's Sabarimala temple. As per a notice uploaded on the apex court's website, the review petitions would be heard by a constitution bench comprising Chief Justice Ranjan Gogoi and Justices R F Nariman, A M Khanwilkar, D Y Chandrachud and Indu Malhotra. On September 28 last year, a five-judge constitution bench, headed by the then Chief Justice Dipak Misra, in a 4:1 verdict had paved the way for entry of women of all ages into the Sabarimala temple, saying the ban amounted to gender discrimination. The notion that the judgment under review is revolutionary, one which removes the stigma or the concept of dirt or pollution associated with menstruation, is unfounded, the association has said in its plea.
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ENGINEERING ASPIRANTS TAKE NOTE: IIT-DELHI TO IMPLEMENT 10% UPPER CASTE QUOTA FROM 2019-20, INCREASE SEATS BY 12.5%
The Indian Institute of Technology Delhi (IIT-D) has decided to increase its seats by 12.5 per cent in the academic year 2019-2020, as per the directions of the Ministry of Human Resource Development. The increase in the percentage of seats has been done to accommodate the 10 per cent quota for Economically Weaker Sections that the Parliament approved earlier this month. The institute will implement the EWS quota for upper castes beginning from the next academic year. The MHRD has directed all central educational institutions to introduce the 10 per cent quota from the new academic session starting in July, and finalise their implementation plan latest by March 31. He also said that the major requirement in terms of funds will be for hostels, as classroom space will not be an issue. Rao added that roughly they have 10,000 students and need to take in 2,500 more students. The large hostels have a capacity of about 800 students. So at least three more hostels are required. But as there is no space for new hostels, so there will need to demolish the 50-year-old hostels, which have about 300 seats and make larger hostels.
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SUBSIDISED LPG PRICE CUT BY RS 1.46; NON-SUBSIDISED RATE REDUCED BY RS 30 A CYLINDER
Domestic cooking gas (LPG) price was cut by Rs 1.46 per cylinder Thursday, the third straight reduction in a month's time due to tax impact on reduced market rate of the fuel. A 14.2-kg subsidised LPG cylinder will now cost Rs 493.53 in the national capital from midnight of Thursday as against Rs 494.99 currently, Indian Oil Corp (IOC), the country's largest fuel retailer, said in a statement. This is the third straight monthly reduction in LPG rate. On December 1, subsidised LPG price was cut by Rs 6.52 per bottle and by Rs 5.91 on January 1. IOC said non-subsidised or market priced LPG rates have been cut by a Rs 30 per cylinder due to fall in price of LPG in international market and strengthening of US dollar-rupee exchange rate. It will now cost Rs 659 per 14.2-kg cylinder in Delhi. The reduction comes on the back of a steep Rs 120.50 cut on January 1 and Rs 133 on December 1. Subsidised cooking gas consumers will get Rs 165.47 per cylinder subsidy in their bank accounts for the month of February, down from Rs 194.01 in January.
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MAHARASHTRA EXTENDS COMPENSATION DEADLINE TO DECEMBER 31 FOR ONION FARMERS
Maharashtra government extended the scope of the compensation that will be given to onion farmers. The state government had announced compensation of Rs 200/quintal for up to maximum 200 quintal per farmer for those farmers who had sold their onion between November 1 to December 15, 2018. Now, farmers who sold onions from December 15 to December 31 will also be eligible to get compensation. The Government Resolution issued said: As onion prices continued to remain subdued even after December 15, elected representatives, farmers and farmers’ organisations had demanded extension of the period of onion incentives to December 31. The minimum onion price at the benchmark Lasalgaon APMC in Nashik was Rs 1.51/kg, while the maximum price was Rs 7/kg on January 30, 2019.
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FRP: DEFAULTING SUGAR MILLS TO FACE ACTION
Following an intense agitation by sugarcane grower farmers demanding Fair and Remunerative Price (FRP) arrears, Maharashtra Sugar Commissioner Shekhar Gaikwad announced that stringent action would be taken against defaulting sugar mills. According to the Sugar Commissioner’s Office, 39 mills that have not paid even 25 per cent of FRP will face immediate action while other sugar mill owners will be summoned for an explanation. Once the Sugar Commissioner issues an order to initiate action, District Collectors can seize the sugar stock in mills and auction it in the market to pay dues to farmers. Farmers have suspended their agitation after the State’s assurance. However, action against sugar mills is likely to create a major political conflict as majority of sugar mills in the State are run by political bigwigs across party lines. Sugar mills have not paid FRP worth ?5,300 crore to sugarcane farmers in the State while farmers are demanding FRP in one go, per the Sugar Control Order.
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UP LOWERS ELECTRIFICATION TARGET, CLAIMS ALL HOUSEHOLDS ELECTRIFIED
The Bharatiya Janata Party (BJP) government in Uttar Pradesh has slashed its household electrification target from 12 million to 7.47 million, saying all households in the state have now been electrified under the Union government’s politically important Saubhagya scheme. Uttar Pradesh is key to the ?16,320 crore Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya) to provide all Indian households with electricity. The state returns the largest number of lawmakers to Parliament. As such, the move by the government acquires a political hue, especially in the run-up to the general elections due by April-May. The National Democratic Alliance wants to showcase its success in providing round-the-clock power across the country. Uttar Pradesh is crucial in this aspect as the state accounts for nearly a third of new connections provided to rural and urban households under Saubhagya. The Saubhagya scheme was to provide electricity connections to 40 million Indian homes by March 2019. However, this was aimed to be completed by December 2018, three months ahead of schedule. This target was reduced to 30 million rural and urban households after it was found that some households did not exist, or had already been electrified, according to Union government officials. Now, the target has come down to 24.847 million households. The drop in the number of targeted households is because of a combination of factors, according to Uttar Pradesh Power Corp. Ltd chairman Alok Kumar. These include illegal connections, multiple households staying together in one house and using a single connection (around 1 million such connections), and overlaps such as the same identified connections being provided by the state government before the launch of the Saubhagya scheme in 2017, he said earlier this month. There is a question mark over the Uttar Pradesh government reducing its target of household electrification. There are around 3.5 million ‘unwilling’ households (those whose connections have not been regularized), a Union government official said. There is a huge political-economy behind these connections and hence this new category of ‘unwilling’ consumers, said the official mentioned above. Subsequent to the electrification of all households, the challenge would be to retain the formalization of close to 25% illegal connections, said Sambitosh Mohapatra, partner (advisory, power and utilities), PricewaterhouseCoopers (PwC) India, the programme manager for implementing the scheme in UP. The Yogi Adityanath government has provided electricity connections to 9.4 million households since coming to power in March 2017, with an additional million connections expected to be given, said Kumar. This is not the end. We will keep on providing connections. Both the government of India and the state government are committed to providing connections to the willing customers, Kumar said.
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IT MIGHT GET TOUGHER BEFORE IT GETS BETTER: JET AIRWAYS CEO TELLS EMPLOYEES IN LETTER
The debt-laden Jet Airways CEO Vinay Dube has asked company employees to brace for tougher times ahead before things get better for the ailing airline. In a letter written to his employees, Dube also said that the finalisation of the resolution plan is very close. “The airline’s key stakeholders are actively engaged towards finalisation of the Resolution Plan. We are very close, and I ask for your continued patience. Given our ongoing challenges, this is a very tall ask,” Dube wrote in his letter. “We are a part of the country’s economic engine and I believe we will come out of our current set of challenges. It might get tougher before it gets better, and our ascendancy will be gradual,” he added.
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AMAZON PULLS SEVERAL ITEMS FROM INDIA WEBSITE AS NEW E-COMMERCE RULES BITE
E-commerce rules that went into effect in India on Friday caused widespread disruption for Amazon.com, forcing it to take down an array of items from its India website including Echo speakers, batteries and floor cleaners. Two sources with direct knowledge of the matter said the products began to disappear from the Amazon India website late on Thursday as it began complying with the revised norms before a midnight deadline. "The company has no choice, they are fulfilling a compliance requirement customers will suffer," said one of the sources. India's new e-commerce investment rules bar online retailers from selling products via vendors in which they have an equity interest, and also from making deals with sellers to sell exclusively on their platforms. By Thursday, numerous items sold by vendors such as Cloudtail, in which Amazon holds an indirect equity stake, were no longer available on the Amazon India site. Clothing from Indian department store chain Shopper's Stop was also no longer available, as Amazon owns 5 percent of the company. The situation in India is "a bit fluid right now," but the country remains a good long-term opportunity, Amazon Chief Financial Officer Brian Olsavsky said on a conference call with reporters following its fourth-quarter earnings announcement.
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SWACHH BHARAT MISSION SCALES UP WASTE MANAGEMENT IN RURAL INDIA
Parameswaran Iyer, reiterated the SBMG's continued commitment to SLWM and shared an overview of the various ongoing initiatives of the Ministry He said that the Mission is on track to deliver an Open Defecation Free (ODF) India well before the set deadline of October 2019 and is focusing increasingly on sustaining the ODF outcomes and ODF-plus activities including SLWM. During the course of the workshop, the district representatives prepared action plans and roadmap towards implementing 46 FSM and GOBAR-DHAN projects in their districts in coordination with the technical experts at the central and State levels. The experts on FSM shared various technological and operational models, specific to different geographic terrains and climatic conditions. Innovative Solid Waste Management initiatives from across the country were shared by the States. This included transforming waste into construction bricks and fuel during the harsh winters in Leh district in Jammu and Kashmir. Kerala showcased the “Green Protocol” being implemented in Thiruvananthapuram district using the 3Rs (Reduce, Reuse and Recycle) to minimize waste generation. Rajgarh district from Madhya Pradesh presented the experience of successfully implementing the GOBAR-DHAN project.
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PETROTECH-2019, THE 13TH INTERNATIONAL OIL & GAS CONFERENCE & EXHIBITION, TO BE ORGANISED FROM 10TH TO 12TH FEBRUARY, 2019
PETROTECH-2019, the 13th International Oil & Gas Conference & Exhibition, being organised under the aegis of the Ministry of Petroleum & Natural Gas, Government of India, is all set to be inaugurated on February 10, 2019. Over 95 Energy Ministers from partner countries have been invited by the Minister for Petroleum and Natural Gas to participate in the Conference. Thethree-day mega event will showcase the recent market and investor friendly developments that have taken place in the India’s oil and gas sector. It is expected to see participation of over 86 eminent speakers and 7000 delegates from around 70 countries, including technologists, scientists, planners, policy-makers, management experts, entrepreneurs, service-providers and vendors. The PETROTECH 2019 exhibition will focus on development in technologies for exploration & production, process control, refining and pipeline and services, systems, products, oil field hardware, software, analytical instruments, Renewable, R&D, HSE, training and publications of technical literature. Exhibition will remain open to visitors from 1000 hrs to 1800 hrs on 10th & 11th February, and up to 1400 hrs on 12 February 2019.
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STERLITE CASE: TN GOVT ACCUSES VEDANTA OF INDULGING IN QUICK-FIXES FOR ENVIRONMENTAL VIOLATIONS
Tamil Nadu government accused Vedanta in the Supreme Court of indulging in quick-fixes every time an environmental violation regarding the operation of its Sterlite copper plant was pointed out. Vedanta countered that the State was bent on harassing the company for political motives. Arguing before a Bench of Justices Rohinton F. Nariman and Navin Sinha, senior advocate Guru Krishnakumar said the State could not have been expected to be a mute spectator to continued environmental violations by the Sterlite plant. Am I as a regulator supposed to let them keep on doing it? Mr. Krishnakumar asked in court on Thursday. So, you said enough is enough Justice Nariman asked with a smile. Rebutting, senior advocate C.A. Sundaram, for Vedanta, said the company has been a victim of harassment from the State Tamil Nadu government govt gave me a bad name and hung me by it. Pollution reports shown now are dated six months after I had shut down operations. They ignored my appeals for daily maintenance to prevent sulphuric acid leaks for fear of loss of face. It was all political for them, Mr. Sundaram countered. Mr. Sundaram submitted that both times the State had accused the plant of breaking pollution norms and ordered its closure the plant had already been shut down for the purpose of maintenance. I was not operating in those months when the government ordered my closure. If I was already closed for maintenance, how is it that they concluded I was polluting? Mr. Sundaram asked. In Dharmapuri, there are industries in the thousands. TDS rate is high. So what are they (State) going to do? Close it all? I have been harassed for political motives. All this links to the election year of 1996, Mr. Sundaram argued. The Tamil Nadu government has alleged in the Supreme Court that pollution from Vedanta's Sterlite copper plant in Thoothukudi went up steadily along with increase in production.
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THAILAND E-VISA ON ARRIVAL FEE DIFFERENT TILL APRIL 30, 2019: VFS
The e-visa on arrival (VoA) for Thailand to avoid the long VoA queues at airports there will cost more than the latter. While the standard eVoA will cost Thai Baht (TBH) 2,600 (about Rs 5,900 at Wednesday exchange rate), the regular VoA fees to be paid after landing in Thailand is TBH 2,000 (about Rs 4,540) — a difference of about Rs 1,360 per passenger. The eVoA service will be in place from February 14 under which the official standard travel authorisation from Immigration Bureau of Thailand is received before starting the journey within 24 to 72 hours. In a bid to boost tourism, Thailand had waived VoA fees for tourists from 20 nations, including Indians, from November 15 to January 13. It has extended the waiver of VoA fees for these 20 nationalities up to April 30, 2019, who are going for tourism there for upto 15 days. For this particular VoA fee waiver period, the eVoA fee will be different. A statement from VFS Global on Thursday said: With the extension of Visa On Arrival fee waiver of 2000 THB to travel to Thailand until April 30, 2019, eligible travellers from 21 countries who avail the eVoA (e Visa on Arrival) service will only have to pay the service charge basis the category applied, during this period. Till April 30, 2019, travellers who opt for the Standard Thailand eVisa on Arrival service will have to only pay the service fee of 600 TBH. Express eVisa on Arrival applicants will only have to pay the service fee of 2,500 TBH online. Thailand tied up with VFS to introduce a eVoA for 21 nationalities, that will allow travellers to receive their travel authorisation online pre-departure within 24 to 72 hours of application being submitted and then get a faster immigration service at dedicated immigration counters at major airports in Thailand. The idea: skip long queues for getting the VoA at Thailand’s major airports.
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Thanks & Regards,
CS Meetesh Shiroya
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