PLEA IN HC CLAIMS DISCREPANCY IN PRINTED, DESTROYED CURRENCY
The Bombay High Court has
sought a response from the Centre and the Central Economic Intelligence Bureau
(CEIB) on a petition claiming discrepancies in currency notes printed, supplied
and destroyed by the RBI annually. The petition came up for hearing on Monday
before a division bench of Justices B P Dharmadhikari and Revati Mohite Dere
which directed the finance ministry and the CEIB to file their affidavits in
response by April 12. As per the petition filed by activist Manoranjan Roy,
from 2000 to March 2018, the Reserve Bank of India (RBI) destroyed soiled
currency notes excess to the ones printed annually by four printing presses in
the country. On comparison between the Right to Information (RTI) replies
received from the four printing presses which work under the Union finance
ministry and an annual report prepared by the RBI, there seem to be
inconsistencies, it claimed. This issue cannot be ignored and by way of the
petition, we have sought a thorough probe to be ordered, Nizam added. The
petition claimed that after the Union government's demonetisation decision in
November 2016, the RBI had received Rs 15.28 lakh crore worth notes in the
denominations of 500 and 1,000 against the figure of Rs 14.11 lakh crore that
was claimed to be in circulation. The difference is of over Rs 1.16 lakh crore.
The petition is seeking a court-monitored probe into this anomaly, Nizam said.
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RBI TO SOON PUT INTO CIRCULATION RS 100 BANK NOTES IN NEW
SERIES
The Reserve Bank of India
(RBI) Tuesday said it would shortly put into circulation new-series Rs 100
denomination bank notes bearing the signature of its Governor Shaktikanta Das.
The RBI will shortly issue Rs 100 denomination bank notes in Mahatma Gandhi
(new) series bearing the signature of Das, the central bank said in a release.
The design of these notes is similar in all respects to the Rs 100 bank notes
in circulation currently. All bank notes in the denomination of Rs 100 issued
by the RBI in the past will continue to be legal tender, the RBI said.
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NEW TWIST IN AYODHYA CASE, SC BACKS MEDIATION FOR AMICABLE
SETTLEMENT
In another twist to the
politically sensitive Ram Janambhoomi-Babri Masjid land case in Ayodhya, the
Supreme Court Tuesday asked the contending parties to explore the possibility
of amicably settling the decades old dispute through mediation saying it may
help in healing relations. Even if there is one per cent chance of settling the
dispute amicably, the parties should go for mediation, a five-judge
constitution bench headed by Chief Justice Ranjan Gogoi suggested. The top
court said it would pass an order on March 5 on whether to refer the matter to
a court-appointed mediator. We would like to know your (both parties) views on
it. We do not want any third party to make a comment to jeopardise the entire
process, the bench said.
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MSME MINISTER URGES BANKS TO EXTEND COLLATERAL FREE CREDIT TO
MSMES
Union Minister for Micro,
Small and Medium Enterprises (MSMEs), Giriraj Singh has urged the banks to extend
collateral free credit to MSMEs to create entrepreneurs who will then be able
to generate greater employment opportunities. Singh said that since the
government had increased the extent of collateral free credit up-to Rs 2 crore
to trading establishments in the country, the number of beneficiaries has
crossed 18 lakh. Banks need to ensure that they provide need-based finances to
the small entrepreneurs. Government has already increased the credit limit for
collateral free lending to Rs 2 crore from Rs 1 crore. But banks should now do
the handholding, Singh said at an event organized by National SC-ST Hub,
Ministry of MSME. There are women entrepreneurs who need collateral free loans.
If banks fear lending without collaterals then let me assure you, based on my
experience, that there is recovery. Participation of women in entrepreneurship
is a must for leading the nation forward, the minister said. He informed the
gathering that the corpus of the Credit Guarantee Fund Trust for Micro and
Small Enterprises (CGTMSE) scheme has been raised from Rs 2,500 crore to Rs
7,500 crore. He further said that after increasing the limit, loans have been
disbursed to 18 lakh entrepreneurs under this scheme till last month and we
hope this will cross 20 lakh by March 31, this year.
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NEARLY 2 CRORE JOBS CREATED IN 16 MONTHS TO DECEMBER 2018: CSO
REPORT
Nearly 2 crore jobs were
created in 16 months to December 2018, according to the payroll data of the
Employees State Insurance Corporation (ESIC). During September 2017 and
December 2018, as many as 1.96 crore new subscribers joined the scheme. Similarly,
the EPFO data showed that employment generation in the formal sector almost
trebled to touch a 16-month high of 7.16 lakh in December 2018 compared to 2.37
lakh in the year-ago month. It indicated that around 72.32 lakh new subscribers
were added to social security schemes of the EPFO from September 2017 to
December 2018.
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INDIAN E-COMMERCE MARKET TO TOUCH USD 84 BILLION IN 2021:
REPORT
The fast growing e-commerce
market in the country will touch USD 84 billion in 2021 from USD 24 billion in
2017 on account of a healthy growth in organised retail sector, a report said
Tuesday. A fast growing economy and robust demographics provide a positive
outlook to the consumer businesses in India, the report said. These factors
will fuel the retail market growth in the country, making India the third
largest retail market in Asia and fourth largest in the world, it said. The
retail market in India is expected to grow to USD 1.2 trillion by 2021 from USD
795 billion in 2017, it said. Further, as the internet penetration in the
country increases and more international retailers start operating in India,
the share of organised retail market is expected to increase from 12 per cent
in 2017 to 22-25 per cent by 2021. This will also be driven by the growth of
e-commerce market from USD 24 billion in 2017 to USD 84 billion in 2021, the
report said.
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COMMERCE MINISTER INTERACTS WITH FPOS ON AGRI EXPORT POLICY
Commerce Minster discussed
with the FPOs about measures that may be implemented by them in order to boost
exports of products from specific regions of the states. In order to implement
the Agriculture Export Policy 40 clusters have been formed across the country
and through NABARD, APEDA, MPEDA and Plantation Boards farmer’s organizations
will be given all assistance in order to ensure that farmers get adequate
market price and are able to export their produce. Commerce Minister suggested
that FPOs must form federations which can become engines of growth in the
districts. Minister informed that he is writing to all FPOs to take the lead
and ensure that the object of the Agriculture Export Policy of doubling farmers
income is implemented. Commerce Minister assured all FPOs that he will look
into each of their problems and ensure that these are solved at the earliest. The
agri export policy is aligned with the vision of doubling of farmers’ income by
providing the farmers the benefit of export opportunities through a stable
trade policy regime. The main aim of the policy is to double agriculture
exports to USD 60 billion by 2022. Export duty on sugar has been removed and
high-level delegations have visited Indonesia, Malaysia, China and Bangladesh
to explore export prospect of raw and refined sugar during this sugar season.
Special efforts have also been made to boost agricultural exports to China.
GACC has approved total 24 Indian rice mills for export of rice to China. A
protocol for export of fish meal to China has also been signed on 28.11.2018
with GACC China to pave the way for export of Indian fish oil and fish meal to
China.
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LOKPAL LAW WOULD HAVE BEEN PASSED HAD DELHI BEEN A FULL STATE:
SISODIA
The issue of full
statehood to Delhi resonated during the budget session in Delhi Assembly on
Tuesday when Deputy Chief Minister Manish Sisodia asserted that the Lokpal
legislation would have been passed in the national capital had the status been
granted to it. He was backed by Chief Minister Arvind Kejriwal, who said the
biggest challenge facing Delhi is it is a half-state. Kejriwal said people in
Delhi are paying more than Rs 1.5 lakh crore income tax and Delhi just got Rs
534 crore from the Centre. This is exploitation, he said. If Delhi becomes a
(full) state, this will stop. UP gets Rs 1.5 lakh crore. Some states get Rs 10
lakh crore. Mumbai pays the highest income tax and Delhi is the second, he
said. Sisodia, in his budget speech, said corruption would have been eradicated
had Delhi been granted full statehood. If Delhi were a full-fledged state,
within two months of forming the government, the Lokpal law would have been
passed in Delhi, for which the country had witnessed a big movement, he added. The
AAP government Tuesday presented a Rs 60,000-crore budget for 2019-20, laying
emphasis on education, health and transport and said it is two times more than
the first budget presented by it in 2014-15. Sisodia said the budget is
dedicated to the soldiers martyred in the Pulwama attack.
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GUJARAT: 12.54 LAKH YOUTH GOT JOBS IN LAST FIVE YEARS, 4.16
LAKH REMAIN JOBLESS
As many as 16.71 lakh
youth in Gujarat were registered unemployed till recently over the last five
years. Of those, 12.54 lakh are working now. The MLAs had also sought details
on all 33 districts of Gujarat. The question was included in an unstarred
questionnaire that was tabled in Gujarat assembly on Friday. As per the
details, 4.16 lakh youth remained unemployed. Ahmedabad district topped in all
categories that are registered unemployed youth, jobs given and the persons
remained unemployed. Ahmedabad district had a total of 2.21 lakh jobless youth
at district level exchanges and, of those, 1.72 lakh youth got jobs. The
Gujarat government counts only those youth as unemployed who are registered
with employment exchanges run by the labour and employment departments.
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UTTAR PRADESH TOPS PM KISAN PAYOUT WITH 40% SHARE OF RS 2,000
CRORE
Uttar Pradesh, the top
beneficiary of the PM Kisan minimum income guarantee scheme for small and
marginal farmers, has also cornered the lion’s share of the total disbursals
under the scheme, which was formally launched by Prime Minister Narendra Modi
at Gorakhpur on Sunday. Of the 10 million pan India beneficiaries, who received
their first instalment of Rs 2,000 under the scheme, more than 4 million, or 40
per cent, belonged to UP alone. The payment was facilitated directly to the
bank accounts at the click of a button by Modi. UP accounts the maximum number
of 21.4 million farmers, or nearly 18 per cent, of targetted beneficiaries. He
informed the state has also speeded up the preparation and validation of the
detail of the remaining 11.4 million farmers before forwarding them to the
Centre for processing and disbursal of their first instalment going forward.
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POWER MINISTER LAUNCHES STAR LABELLING FOR ENERGY EFFICIENT
HOMES
Country on path to achieve
100% household electrification by 31 March, 2019 and our next goal is 24x7
power for all households said Shri RK Singh. He congratulated States for electrifying
2.5 crore households under Saubhagya in a record time of 17 months. Laying the
roadmap for achieving 24x7 power for all Shri Singh said that this will be done
by strengthening the distribution network, improving the DISCOMs health,
reducing the transmission & distribution losses, using technology to
improve billing and collection efficiency and energy efficiency. However the
hours of power supplied to agriculture sector will be as per state's policies
so as to reduce waterwastage and prevent over exploitation ofour already
stressed ground water resources. The objective of the labelling programme is to
make an instrument over the energy performance of a home which will gradually
lead to an effective tool while deciding over the home prices in future. It
also aims to provide a benchmark to compare one home over the other on the
energy efficiency standards so as to create a consumer driven market transformation
solution for Energy Efficiency in housing sector. With the implementation of
Energy efficiency label for Residential Buildings it is estimated to achieve an
energy saving of up to 40% over the conventional houses with annual savings of
90 Billion Units by the year of 2030. Further, the Labelling mechanism will
reduce in energy bills for home buyers. The likely CO2 emission deduction by
2030 will be 320 MT CO2 annually.
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PRESS BRIEF ON ETA EXEMPTION
To help promote ‘Make in
India’ by manufacturing latest and high-tech products for domestic as well as
for exports and to encourage domestic research & development activities
innovation - DoT has issued instructions liberalising import norms for prototype,
sample products and test & measurement equipment in license exempt bands
without the need of ‘Equipment Type Approval (ETA)’. The devices with
radio-interfaces include laptops, notebooks, smart accessories, short range
devices, Cameras, Scanners, Printers and mobile handsets. In addition, the DoT
also has enabled ETA through self-certification in its step forward for
commercial / finished product imports under the above categories, simplifying
regulatory regime while ensuring compliance as well as reducing transaction
costs. These measures will enhance ease of doing business in the regulation of
consumer wireless products and reduce timelines for clearances. The National
Digital Communication Policy 2018 has initiated several policy actions to
catalyse investments in digital communication sector.
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COLLABORATING CLOSELY WITH ELECTION COMMISSION, SETTING UP
CROSS-FUNCTIONAL TEAM IN INDIA: TWITTER
Social media giant Twitter
Tuesday said it is working collaboratively with the Election Commission of
India and is taking a number of steps, including setting up a cross-functional
team, to ensure integrity and transparency on its platform ahead of general
elections. Colin Crowell said the company is putting in place a dedicated
cross-functional team that works on site integrity and is prepared to deal with
issues of manipulation. India is important to Twitter and this election is top
priority for us. The meeting was substantive and respectful. So what I tried to
convey to the Committee was the seriousness with which we are undertaking a
variety of activities to prepare for the elections, Crowell told. The American
company is also said to have agreed to appoint a nodal officer to work with the
Election Commission to address any issue that arises during the elections. Crowell
also outlined that the company has recently launched its Ads Transparency
Centre (ATC) in India to bring greater transparency into political spending
here and that it is working proactively with political parties and candidates
to verify their accounts ahead of the elections.
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JET PILOTS TO STICK TO ROSTER HOURS FROM 1 MARCH; OPERATIONS
TO BE HIT
Jet Airways' operations
are likely to be hit from next month with its pilots' union NAG deciding to
adhere to the duty roster from 1 March over non- payment of salaries union
sources said on Monday. Members of the National Aviator's Guild will not fly
over and above roster hours from 1 March, they said.
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SURESH PRABHU MEETS REPRESENTATIVES OF PHARMA AND CHEMICALS
INDUSTRIES
Suresh Prabhu, met
representatives of pharma and chemicals industries along with chairmen of
Pharmexcil and Chemexcilin New Delhi. Commerce Minister said that the Ministry
recognizes certain issues that need to be addressed for enhancing exports in
the chemical sector and he promised to take up all the issues with other
Ministries and Departments of Government of India. Minister elaborated that expansion
of Interest Equalization Scheme needs to be done by adding more tariff lines, the
process of environmental clearance to be speeded up especially relating to
product mix and also expeditious approval process. There is also a need for the
removal of pre-import condition for advance authorization (with prospective
effect). Minister further said that additional MEIS support for specific
commodities for specific markets due to disadvantage arising out of other
countries FTAs also needs to be addressed. Suresh Prabhu stated that Commerce
Ministry will seek support from Indian embassies and missions abroad to
understand the market profile of the country and then disseminate the same
among the domestic industries. Suresh Prabhu said that Commerce Ministry
supports pharma exports through its schemes of reimbursement of product
registrations abroad upto Rs 50 lakh per year- this ceiling has been enhanced
recently to Rs 2 crore per year with additional components, which will encourage
exporters to register and sell more products in new and potential markets.
Commerce Ministry also provides financial support to industry for participation
in trade events, BSMs abroad and in organizing flagship industry events in
India, like IPhex and CPhI. Minister also said that the Ministry is
facilitating market access in important markets like China, Russia and CIS and
Vietnam. The other initiatives of the Commerce Ministry include highlighting
and resolving pending issues with various Government of India Departments, like
waiver of GST to incentivize export of R&D services, extending validity of
CoP and waiver of NOC for exports. India’s pharma exports have grown handsomely
from USD 15.43 billion in 2014-15, based on current trends. India is likely to
record highest ever pharma exports this FY 2018-19 of approx. USD 19 billion. Pharma
exports for April-December 2018-19 are USD 13.94 billion, a growth of 9.32%
over the previous year. Exports to the most important and competitive markets
of US and EU have grown by 8.74 % and 12.88 % respectively.
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PM KISAN SCHEME: 10 MILLION MORE FARMERS MAY GET RS 2,000 THIS
WEEK
The government is likely
to transfer Rs 2,000 each to at least 10 million more farmers by Friday
carrying forward the PM-KISAN scheme. The government has so far registered 37.1
million farmers from across the country. Though BJP-ruled states are still
ahead, data from Congress-ruled states has also started trickling in. We have
transferred Rs 2,000 each to 1.01 crore farmers on last Sunday. Now, the next
transfer to another one crore is likely to happen by March 1. We will be
deciding the date soon, said a senior agriculture department official, who is
part of this exercise. He said after the first transfer, the Centre is receiving
response from almost all states and Union Territories except Madhya Pradesh,
West Bengal and Delhi, which are yet to upload data.
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DAC APPROVES ACQUISITION OF DEFENCE EQUIPMENT WORTH 2700
CRORES
The Defence Acquisition
Council (DAC) chaired by Raksha Mantri Smt Nirmala Sitharaman met and accorded approval
for acquisition of defence equipment for about Rs 2700 Crores Approval was
granted for procurement of three Cadet Training ships for the Indian Navy, which
would be utilised to provide basic sea training for officer cadets including
women officer undertrainees. The ships would be capable of undertaking Hospital
Ship duties, providing Humanitarian Assistance and Disaster Relief, undertaking
Search and Rescue (SAR) missions and Non-Combatant Evacuation Operations.
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SHRI JUAL ORAM TO LAUNCH MSP FOR MINOR FOREST PRODUCES AND
VALUE ADDITION COMPONENT OF VAN DHAN
Jual Oram will launch the
Minimum Support Price (MSP) for Minor Forest Produces and the Value Addition
component of Van Dhan on 28th February, 2019. The Ministry of Tribal Affairs is
now scaling up the Van Dhan Scheme and is ready to extend it to all tribal
Districts of the Country in phases starting with the Aspirational Districts
with substantial tribal population. The Prime Minister of India launched the
Van Dhan Scheme in Bijapur District of Chhattisgarh on 14th April, 2018. The
Ministry also expanded the coverage of the Minimum Support Price (MSP) for Minor
Forest Produce Scheme to 50 Minor Forest Produces. The MSP has also been raised
between 30% to 40% in case of each of the Commodities. The Ministry of Food
Processing Industries and Ministry of Tribal Affairs have decided to set up two
Minor Forest Produce Processing Units at Jagdalpur in Chhattisgarh and Raigarh
in Maharashtra at the cost of almost approximately Rs. 11 Crores. TRIFED has
also launched the Friends of Tribes Scheme for sourcing of CSR funds from
Public Sector Organizations (PSUs) were requested to fund tribal
Entrepreneurship Development Programme through their CSR initiatives.
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CONSUMER MARKET TO TREBLE BY 2028 TO RS 335 LAKH CRORE: REPORT
The consumer market is
expected to grow at 12 percent annually over the next decade and touch Rs 335
lakh crore, says a report. The consumer market was around Rs 110 lakh crore in
2018, clipping past 13 percent annually in the past decade when it stood at Rs
31 lakh crore in 2008. Between 2008 and 2028, the share of private consumption
in GDP has increased from 56.8 to 62 percent, higher than the emerging market
average which is expected to stay constant at 50-51 percent, the Boston
Consulting Group (BCG) said in a report Tuesday. These households have grown at
10 percent annually in the past decade to double their share from 6 percent in
2008 to 12 percent in 2018. Subsequently, consumption by the affluent and the
elite grew at 20 percent annually to corner one-third of the total consumption
pie, it said. While clothing and footwear grew 16 percent CAGR, for healthcare
it was 14 percent. Categories like financial services, social protection and
jewellery also registered strong growth of 15-19 percent annually, it said.
Online retail market grew at a rapid 78 percent albeit on a small base in the
last 10 years, taking the share of online retail to 2.8 percent of total retail
spending in 2018 from 0.1 percent in 2008.
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WHY UNIVERSAL BASIC INCOME IS A BAD IDEA
Ten million farmers have
received their first instalment of Rs 2,000 under the PM-Kisan scheme, and will
receive Rs 6,000 in a full year. Meanwhile, Rahul Gandhi has promised a minimum
income for all if elected. Many experts believe India is on track to a Universal
Basic Income (UBI). This has long been advocated by economists such as Pranab
Bardhan and Vijay Joshi. Arvind Subramanian, in his Economic Survey in 2017,
predicted that India would move towards a quasi-basic income I disagree.
Politicians will surely hand out cash, just as they have handed out freebies in
the past. But the benefit will not be universal, but targeted at specific
votebanks. And the sums involved will be modest, not remotely enough to live
on. You could call this universal pocket money, but not a basic income.
Theorists say every citizen should get an equal national dividend. But giving
Mukesh Ambani and the poorest beggar the same benefit looks both silly and
unfair to politicians and voters. Targeted transfers make political and moral
sense. Cash transfers to the needy are desirable, but not equally large
transfers to the rich. Rahul Gandhi’s promise of topping up the income of every
poor person sounds like a guarantee of a poverty-line income. But will poor
people below the poverty line work at all if they get the same income
regardless of whether they work or not? No, the scheme has not been thought
through. It looks more affordable than UBI, being targeted at the poor. The
World Poverty Clock suggests that barely 6% of Indians are below the World
Bank’s poverty line of $1.90 aday at purchasing power parity. In practice, enormous
difficulties and scams will arise in estimating who is poor. If village
sarpanches are asked to certify incomes -they already certify caste status - then
for a small bribe, they will certify virtually everybody to be poor, making a
mockery of the scheme. UBI has been advocated by thinkers from the extreme left
to the extreme right. The leftists say it will add to the long list of human
rights and entitlements, as a dividend to all for being shareholders in the
nation. On the right, Milton Friedman saw UBI as a way of eliminating a host of
badly conceived and targeted subsidies and replacing them with a single cash
grant. In theory, non-merit subsidies could be abolished, freeing funds for
UBI. In practice, politicians dare not eliminate existing freebies, and keep
expanding the list. Before the 2018 state election, economists praised
Telangana chief minister K Chandrashekar Rao for offering a cash grant of Rs
8,000 per acre per farmer, rather than a loan waiver (as the Congress was
doing). They said a cash grant was economically more efficient But now Rao has
offered a loan waiver as well. Lesson: cash transfers will be in addition to —
not in place of — other freebies. Indian democracy creates competition between
parties in offering freebies, subsidies and quotas. So, the list of freebies
keeps expanding, leaving no fiscal space for grand new schemes like UBI.
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SC TO HEAR CENTRE'S PLEA SEEKING STAY ON POSSIBLE EVICTION OF
TRIBALS, FOREST DWELLERS
The Supreme Court has
agreed to hear on Thursday the Centre's plea seeking a stay on the possible
eviction of around 11.8 lakh tribals and traditional forest dwellers, whose
claim for right over forest land has been rejected under the Scheduled Tribes
and Other Forest Dwellers (Recognition of Forest Rights) Act 2006. A bench
headed by Chief Justice Ranjan Gogoi took note of the submissions of Solicitor
General Tushar Mehta that the Centre's plea be listed for hearing on an urgent
basis. The apex court had earlier asked 21 states to apprise it about the
action taken by them over the eviction of tribals and forest dwellers whose
claim have been rejected. The top court, in its February 13 order, had asked
the chief secretaries of the states concerned to file affidavits stating
whether those against whom the rejection orders were passed, have been evicted
or not and if not, the reasons for the same.
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MODI ASKS YOUTHS TO QUESTION RAJYA SABHA MPS OVER LACK OF
HOUSE PRODUCTIVITY
Prime Minister Narendra
Modi Wednesday took a dig at the Opposition over Rajya Sabha's lack of
productivity and said it is a matter of concern He told youngsters to question
the members of Rajya Sabha, where opposition parties have a numerical advantage
over his government, of their respective states, saying it will lead to
nation-wide pressure on them. Modi said the productivity of the outgoing 16th
Lok Sabha, where the government enjoys a big majority, was 85 per cent and it
passed 205 bills, as he credited the development to the full majority voters
gave to the BJP in the 2014 general elections. The Rajya Sabha's productivity
was only eight per cent in the last session where the interim budget was
passed. Modi asked youngsters to organise events upon returning home and invite
Rajya Sabha members from their states as chief guests and question them.
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CONG WILL PASS WOMEN'S RESERVATION BILL IF VOTED TO POWER IN
2019: SCINDIA
The Congress will pass the
Women's Reservation Bill in the first session of Parliament itself if it is
elected to power in the 2019 Lok Sabha polls, senior party leader Jyotiraditya
Scindia said. The Bill, which lays down 33 per cent reservation for women in
Parliament and state Assemblies, was passed in the Rajya Sabha on March 9,
2010, and awaits the nod of the Lok Sabha. He said UPA chairperson Sonia
Gandhi, current party chief Rahul Gandhi and he himself were in favour of
women's empowerment.
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CRUDE STEEL OUTPUT IN INDIA AT 9.18 MILLION TONNE IN JANUARY :
REPORT
India's crude steel output
fell about two per cent to 9.180 million tonne (MT) during January 2019,
according to World Steel Association (worldsteel). The country had produced
9.354 MT during the same month in 2018, according to worldsteel's latest
report. Global crude steel production for the 64 countries reporting to the
association was 146.70 MT in January 2019, up one per cent compared to the year
ago month, it said. While India produced 9.2 MT of crude steel in January 2019,
Japan and South Korea produced 8.1 MT and 6.2 MT, respectively.
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ANAROCK SELLS FLATS WORTH RS 22,000 CRORE SINCE APRIL 2017; TO
BE PROFITABLE IN FY19 WITH RS 200 CRORE REVENUE
Homegrown property
brokerage firm Anarock has sold around 24,000 housing units worth Rs 22,000
crore since its inception in April 2017 despite slowdown in real estate market,
a top company official said. The company achieved a turnover of around Rs 90
crore last fiscal and is likely to more than double its revenue and be
profitable in the current 2018-19 fiscal, Anuj Puri said. Anarock sold 13,000
flats worth Rs 12,000 crore during the 2017-18 fiscal year and has achieved
sales bookings of 11,000 units worth Rs 10,000 crore till January in the
current fiscal.
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CENTRAL GENOMICS AND QUALITY LABORATORY FACILITY WILL HELP
FARMERS
Radha Mohan Singh praised
the NRRI for its stellar role in the development of agriculture not only in
Eastern region but also at the national front. Since its inception in 1946, the
Institute contributed immensely in country's Green Revolution and steered
groundbreaking research in development of high-yield rice varieties thereby
helping achieve self-sufficiency in rice production. Shri Singh said that for
ensuring nutritional security, for the first time in the world, the Institute
recently released two high-protein rice varieties (CR Dhan 310, CR Dhan 311)
and two climate-smart varieties (CR Dhan 801 and CR Dhan 802), which are
tolerant to both submergence and drought and few biotic stresses to face the
challenges of climate change. He added that the Institute is working on
developing and popularizing super-yielding varieties and agro-technologies for
higher productivity, profitability, climate resilience and sustainability of
rice farming. He said that the NRRI is the nodal agency for planning,
implementation and monitoring of Bringing Green Revolution in Eastern India
(BGREI) programme which is being implemented in 118 districts of seven Eastern
states. Singh congratulated NRRI for developing Mobile App ‘riceXpert’ which is
helping in providing information to farmers in real time besides facilitating
the flow of information from scientist to farmers.
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SUPREME COURT SAYS ADANI POWER ELIGIBLE FOR CARRYING COST
Holding that Adani Power
is eligible for carrying cost, the Supreme court ruled that the generating
company is entitled to adjustment in its monthly tariff payment from the date
on which the exemption notifications became effective. A Bench led by justice
RF Nariman while dismissing the appeals by Haryana discoms — Uttar Haryana
Bijli Vitran Nigam and Dakshin Haryana Bijli Vitran Nigam — held that Article
13.4.1 of the PPA makes it clear that adjustment in monthly tariff payment on
account of change in law shall be effected from the date of the change in law,
in case the change in law happens to be by way of adoption, promulgation,
amendment, re-enactment or repeal of the law or change in law. It further said
that if the change in law is on account of a change in interpretation of law by
a judgment of a court or tribunal or governmental instrumentality, then the
monthly tariff payment shall be effected from the date of the said
order/judgment of the competent authority/tribunal or the governmental instrumentality
and the case would fall under sub-clause (ii) of clause 4.1.
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ADANI GROUP EMERGES HIGHEST BIDDER FOR GUWAHATI AIRPORT
Adani Group has emerged as
the highest bidder to operate Guwahati airport, a senior AAI official said
Tuesday. Adani Group has put in the highest bid of Rs 160 as per passenger fee
for Guwahati airport. This means that Adani Group has won all six airports that
were put up for privatisation, the official at Airports Authority of India (AAI)
said.
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TO ACHIEVE SUSTAINABLE GROWTH, CITIES MUST BECOME MORE
LIVEABLE & SAFER WITH CLEAN AIR
Shri Hardeep S. Puri, has
said that in terms of sheer numbers, the largest urban transformation of the
21st century is happening in India. He said, India’s unique pattern of
urbanization is not a corollary but a driving force of this growth story. With
70% of India’s built environment for 2030 yet to take shape, its impending
urban transformation also represents significant opportunities for domestic and
international investments, he added. Puri said, to achieve sustainable growth,
the cities will have to become more liveable and safer with clean air; adequate
infrastructure; reliable utilities; and opportunities for learning and
employment. He said, the solution lies in inclusive urbanization processes that
prioritize quality of life for all, focusing especially on the needs of
vulnerable urban groups for employment, housing, sanitation, healthcare and
education. Most importantly, planning must incorporate long-term resource
sensitivity and community involvement at every step, while benchmarking smart
and measurable outcomes for all stakeholders, he emphasised. Shri Puri informed
that currently all 100 Smart Cities have established their SPVs. The Minister
also laid emphasis that the time has come when the need for the City
governments to take ‘digital leadership’ has become more pronounced. Making
cities ‘Data Smart’ is key in realizing the full potential of technology
interventions and innovation ecosystems in cities:, he said. India must
rejuvenate its cities promptly to address the increasing aspirations of urban
dwellers and attract the investment that will further drive growth and
development. Cities in India face a range of challenges to meet demand and
supply gaps in urban regions, in such areas as water, waste management, energy,
mobility, the built environment, education, healthcare and safety.
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NATIONAL CANCER INSTITUTE AT JHAJJAR DEDICATED TO THE NATION
AS PART OF AIIMS, NEW DELHI
J P Nadda clarified that
there should be no confusion in this matter- the National Cancer Institute at
Jhajjar, Haryana recently dedicated to the nation by Prime Minister Shri
Narendra Modi is an integral part of AIIMS, New Delhi and is a specialty
tertiary healthcare institute dedicated for cancer care. This is second campus
of the AIIMS Delhi only. He also clarified that all the facilities as envisaged
for Jhajjar shall be developed there only and shall not be shifted elsewhere. Built
at a cost of Rs. 2035 crores, NCI is the largest investment by the Government
of India in a single hospital project and holds the unique distinction of being
one of the mega healthcare projects to be completed in a record time of 3 years
from the first shovel to the first patient. The proposed AIIMS will be built at
the cost of Rs. 1299 crores on 223 acres of land. The Institution will consist
of a hospital with a capacity of 750 beds, trauma center facilities, medical
college with an intake of 100 MBBS students per year, nursing college with an
intake of 60 B.Sc. (Nursing) students per year, residential complexes, 1000
seat auditorium and allied facilities / services, broadly on the pattern of
AIIMS, New Delhi.
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POLLUTION IN GANGA HARMING RIVERBED SEDIMENTS TOO: STUDY
The excessive amounts of
human waste and toxic effluents that find their way into the Ganga river are
not only polluting the water but also causing deficit of dissolved oxygen in
the riverbeds in some of the most polluted stretches of the river, a new study
has found. The amount of dissolved oxygen in a river depends on atmospheric
supply of oxygen, photosynthetic process, and oxygen-consuming metabolic and
chemical processes. If dissolved oxygen falls below the threshold of 2
milligram per litre, it can lead to mass killing of fish and harm other aquatic
life Also, the sediment oxygen demand in the riverbed sediment was associated
with a high level of oxygen-demanding chemicals rather than organic matter
alone. High amount of organic carbon and oxygen-demanding chemicals such as
ammonia, iron and manganese are flushed into the river from different sources.
So far, most of the agencies focus mainly on biological oxygen demand (due to
organic matter) including those in wastewater treatment. Our results suggest
that for rejuvenation of Ganga, authorities should focus also on the reduction
of chemical oxygen demand along with the biological oxygen demand to enhance
the ecological assimilation capacity of the river, said Pandey.
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KEJRIWAL POSTPONES HUNGER STRIKE ‘IN VIEW OF INDO-PAK SITUATION’
Arvind Kejriwal has
postponed his hunger strike proposed from March 1 in view of the prevailing
Indo-Pak situation. The AAP convener had two days ago announced to go on strike
on the issue of complete statehood for Delhi. In view of prevailing Indo Pak
situation, I am postponing my upwas for full statehood of Delhi. We all stand
as one nation today, Kejriwal tweeted hours after he hailed the Indian Air
Force for carrying out the strikes at a terror camp in Balakot. Kejriwal’s
decision comes after India struck Jaish-e-Mohammed’s (JeM) biggest camp in
Pakistan early Tuesday in a major preemptive action killing a large number of
terrorists and trainers of the Pak-based terror group preparing to carry out
suicide attacks in this country.
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POLLUTION IN GANGA HARMING RIVERBED SEDIMENTS TOO: STUDY
The excessive amounts of
human waste and toxic effluents that find their way into the Ganga river are not
only polluting the water but also causing deficit of dissolved oxygen in the
riverbeds in some of the most polluted stretches of the river, a new study has
found. Dissolved oxygen is an important parameter that determines health and
rejuvenation capacity of any riverine ecosystem. If dissolved oxygen falls
below the threshold of 2 milligram per litre, it can lead to mass killing of
fish and harm other aquatic life. The dissolved oxygen in subsurface water and
at the interface of sediment and water was lowest in the Jajmau region in
Kanpur, the most polluted stretch of Ganga where over 202 MLD of industrial
effluents are directly released into the river. In the case of the two drains,
the dissolved oxygen at the interface of sediment and water was close to zero
at the mouth of both the drains. In both these cases, the sediment oxygen
demand was highest in Jajmau region and the mouth of the two drains.
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KEY MISSIONS LAUNCHED ON FOUNDATION DAY OF DEPARTMENT OF
BIOTECHNOLOGY
The Union Minister
emphasized the role of Department of Biotechnology during the last 33 years in creating
a large scale impact across the multiple sectors by development and
commercialization of affordable solutions for healthcare, improved crop
varieties, animal diagnostics and technology for generation of clean energy. Further,
he highlighted the progress made in the area of capacity building, generation
of new knowledge, translational research and in nurturing of Biotechnology
startup ecosystem. The Minister announced key missions at the foundation day ceremony
including Atal Jai Anusandhan Biotech Mission - Undertaking Nationally Relevant
Technology Innovation (UNaTI), which is expected to transform Health,
Agriculture and Energy sectors during the next 5 years. This mission includes
GARBH-ini - A Mission to promote Maternal and Child Health and develop
prediction tools for pre-term berth, IndCEPI - A Mission to develop affordable
vaccines for endemic diseases, Development of Biofortified and Protein Rich
wheat - contributing to POSHAN Abhiyan, Mission on Anti Microbial Resistance
for Affordable Diagnostics and Therapeutics and Clean Energy Mission -
Innovative Technology interventions for Swachh Bharat. The Secretary
highlighted the role of (BIRAC) in promoting and nurturing innovation and
entrepreneurship over the years which has resulted in support to more than 500
startups, 35 bioincubators spread across the country. Approximately 175 IPs
have been generated and 140 products and technologies commercialized; besides
this, the Department has supported more than 15000 scientists and 5000 skilled
research manpower said Dr. Swarup.
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BUILDERS NEED TO DEVELOP ONLINE, SOCIAL MEDIA PRESENCE: REPORT
No real estate developer
has a monthly traffic of 10 lakh on its website a study has said while
suggesting builders to improve their online as well as social media presence to
boost sales. None of the 50 websites of property developers that we studied had
a traffic of one million (10 lakh) per month, online visibility management
platform SEMrush and property consultant Colliers said in a report. Out of the
50 websites studied, only 16 had a traffic of more than 50,000 per month, it
said. Lodha topped the list of 'top 20 developers' websites by traffic' with a
web traffic of 7.13 lakh during last month, followed by Sobha (6.10 lakh),
Prestige (6.08 lakh), Godrej Properties (5.46 lakh) and Mahindra Lifespaces
(nearly 4.2 lakh). The detailed study from January to December 2018 shows that
over 1 lakh people search monthly for buying and renting houses or flats around
India, and more than 900 crore pages cater to these searches, Fernando Angulo,
corporate speaker, SEMrush, said.
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
Thanks & Regards,
CS Meetesh Shiroya
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