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Friday, 29 April 2016

Shri J P Nadda chairs high level review meeting on Dengue


The Union Minister for Health & Family Welfare, Shri J.P. Nadda chairing the high level review meeting on preparedness regarding Dengue situation, in New Delhi on April 29, 2016. The Secretary (Health and Family Welfare), Shri B.P. Sharma is also seen.

Let us work together to create a mosquito-free environment: J P Nadda
Shri J P Nadda, Union Minister for Health and Family Welfare, held a high level meeting to review the preparedness of the Delhi administration and other stakeholders in prevention and control of Dengue in Delhi, here today. Shri Satyender Jain, Health Minister of Delhi was present at the meeting in addition to Mayors of the Delhi Corporations and senior offers of the Union Health Ministry, Ministry of Urban Development, National Vector-Borne Disease Control Programme (NVBDCP), National Centre for Disease Control (NCDC), Delhi Cantonment, CPWD, ICMR etc.

Taking stock of the situation, Shri Nadda was briefed on the preparations of the Health Ministry and Delhi Administration to prevent the spread of Dengue in the NCT of Delhi. Shri Nadda stated that the Union Health Ministry has been proactive in taking measures to prevent Dengue. Various meetings with the States through video conferencing have been held by the Secretary (HFW). Multiple advisories have been shared with the States to build their capacity, the Minister informed. He also added that training has been provided to health workers and a working plan has been sent to the States to ensure timely implementation of various activities that need to be undertaken for vector control.

Shri Nadda stated that the Union Health Ministry has already provided all logistical and technical support to the Delhi Government in terms of surveillance and diagnostic kits to strengthen their efforts in addressing Dengue. Noting that community participation and empowerment are the most crucial areas in Dengue prevention, Shri Nadda urged all the stakeholders to start rigorous awareness campaigns regarding the preventive steps to be taken by the people in their communities. He mentioned that recently on World Health Day, ‘India Fights Dengue’ mobile application has been launched. He also suggested awareness activities to be taken up in schools, colleges and various localities with the help of the school administration and the RWAs.

He also suggested that all available information on the measures taken by the Delhi Government and Delhi Corporations should be easily available to the people through various media channels. 

Bullet Train between Ahmedabad and Mumbai with financial and technical assistance from Government of Japan

The Mumbai-Ahmedabad high speed rail project has been sanctioned at total completion cost of ₹ 97,636 crore as per details below (in ₹):

·      Construction cost                                                            :  44,621 crore
(Track/Station/Depot/Electric/
Signalling & Telecom) 

·      Rolling Stock                                                                    :   5,255 crore
·      Land                                                                                  :   9,863 crore
·      Miscellaneous                                                                    :  27,533 crore
(Management/Contingency/
Escalation/Consultancy/
Import Duty etc.)
  
·      Interest during construction                                    :  10,359 crore

The feasibility study of the project has been completed and implementing agency (National High Speed Rail Corporation Limited) has been formed in February, 2016.

The project will be implemented through financial and technical assistance from Government of Japan. The assistance involves provision of Japanese Yen loan for approximately 81% of total project cost at 0.1% per annum interest for 50 years with 15 years moratorium and transfer of technologies of construction.
This Press Release based on information given by the Minister of State for Railways Shri Manoj Sinha in a written reply to a question in Rajya Sabha on 29.04.2016 (Friday).

India clarifies on issues regarding M/S Agusta Westland International Limited (AWIL)

In the matter pertaining to acquisition of Agusta Westland helicopters, the undisputed central issue that stands out is corruption, especially bribery. Any other line of assumption, approach and effort, as is being attempted in some quarters, is misleading, tries to hide the wrong-doers and is driven by instincts of self preservation. 

Ever since the new government was given the responsibility to serve the people, it has acted with speed, drive and purpose to empower the country's masses. It continues to relentlessly pursue fearless and transparent governance. One of the core goals of our governance has been to unearth and uproot corruption, and punish the corrupt. 

It is indeed tragic that a small section of the Indian polity has attempted, unsuccessfully, to divert and diffuse the public discourse on this matter. They question the speed of the government processes, especially the investigation. But, they do not ask how the corrupt influenced the process of acquisition in the first place and bled the nation. They donot admit corruption; they instead boldly proclaim, "catch us if you can". 

The present government has taken effective action to bring out the truth and will leave no stone unturned in pursuing all means to bring to justice the corrupt and the wrong-doers in this case. 

The investigative agencies remain determined to bring to justice the key perpetrators of this misdeed, both inside and outside the country. 

The government has acted proactively and with alacrity against Agusta Westland International and Finmeccanica. It is the present government which through its order dated 3 July 2014, put on hold all procurement/acquisition cases in the pipeline of six companies figuring in the FIR registered by the CBI, namely: M/S Agusta Westland International Ltd., UK, M/S Finmeccanica, Italy, and its group companies, including subsidiaries and affiliates, M/S IDS, Tunisia, M/S Infotech Design System (IDS), Mauritius, M/S IDS Infotech Ltd, Mohali and M/S Aeromatrix Info Solution Pvt Ltd, Chandigarh. 

In doing so, we did not let the preparedness of our defence forces suffer. At the same time, we also ensured that no new capital procurement was made thereafter from these companies in the tenure of the present Government. 

The factually misinformed have also made a mention regarding clearance of a joint venture involving Agusta Westland by the Foreign Investment Promotion Board. This proposal was approved on 2nd September 2011 based on an application by Indian Rotorcraft Ltd a joint venture of Tata Sons with Agusta Westland NV, Netherlands. This was later changed to Agusta Westland S.p.A Italy due to reorganization within the group. On 7th February 2012, an industrial licence for the manufacture of helicopters was granted by the Department of Industrial Policy and Promotion to Indian Rotorcraft Ltd. However, the validity of licence has since expired. 

In their drive to divert the public attention from their own corruption, some have said that the Modi government permitted Augusta Westland to bid for 100 Naval Utility Helicopters in April, 2015. The fact is that a techno-commercial Request for Proposal (RFP) for Naval Utility Helicopters was issued to eight vendors on 4 August 2012. In response to the RFP, M/S Eurocopters, France and M/S Agusta Westland S.p.A Italy submitted their techno-commercial proposals on 4 March 2013. RFP of the procurement case was retracted by the Government on 13 October 2014. 

The Indian Navy has hosted on the website a Request for Information for more than 100 Naval Utility Helicopter in October 2014. No Request for Proposal has been issued, therefore the question of permitting Agusta Westland to bid for the Naval Utility Helicopter in April 2015 does not arise. The government is exploring whether their manufacturing can be pursued under "Make in India". 

On the core issue of corruption, the timeline of actions taken by the CBI and Enforcement Directorate clearly shows due rigour and diligence with which these agencies have pursued all aspects of their investigations, including the arrest and extradition of three foreign nationals namely Mr. Carlo Gerosa, Mr. Guido Haschke Ralph and Christian Michel James. 

CBI has so far investigated over 100 witnesses. In September and November 2014, couple of accused have been arrested and their property attached. A criminal complaint was also filed. Letter of Requests were sent out by ED and CBI to Mauritius (July 2013), Tunisia and Italy (December 2013), British Virgin Islands, Singapore and U.K. (September 2014), UAE and Switzerland (December 2014). The agencies are continuing to pursue responses to the LRs from the countries concerned. 

Further, an open ended non bailable arrest warrant was issued by CBI against Mr. Christian James Michel on 24 September 2015. Red Corner notices were issued in December 2015 and January 2016 through Interpol under Prevention of Money Laundering Act and Prevention of Corruption Act on charges of conspiracy and abuse of official position in giving favours to M/s AWIL. 

Extradition request has also been made for Christian Michel James. A request for provision arrest for the purpose of extradition was made to the U.K. authorities on 4 January 2016 by CBI. Enforcement Directorate, another autonomous agency to handle private money laundering and Foreign Exchange irregularities, has also separately sent a Red Corner seeking arrest and a request for his extradition from the U.K. on 29 February 2016. 

By asking why did Prime Minister and BJP government not take any action on the alleged offer dated 08.11.2015 made by James Christian Michael to be questioned by CBI and ED including on Indian soil, some have even tried to side with a wanted criminal. 

It is well known that any understanding/agreement with an accused outside the frame of law is a criminal act in itself. James Christian Michael is a criminal wanted by the Indian law enforcement agencies. We are pursuing all legal means to arrest him and have him extradited to India. Mr. Michel should submit himself to the Indian legal system rather than make elliptical references to offers that are suspect in intent and reality. We are determined that the law must take its course against Mr. Michel and his associates in this matter. 

Those who cannot see Prime Minister succeed even hint at him cutting a deal. Nothing could be farther from the truth. Prime Minister Modi did not cut any deal of any sort. His only goal and priority is the development of comprehensive national power, and empowerment of our masses. 

A few have even sought to link one of the accused with Shri Ajit Doval, present NSA, as also Shri Nripendra Mishra, Principal Secretary to the Prime Minister. This is a totally baseless assertion, devoid of reason and logic, and indicative of malicious intent. In reality, there is no such connection. 

Individuals in some quarters have even gone to the extent of ascribing intent to the technicalities of the CAG audit of the state governments of Rajasthan and Chattisgarh. They ask as to whey did Modi government not take any action against Chhattisgarh Chief Minister, Dr. Raman Singh despite an indictment of Chhattisgarh government by CAG in purchase of Agusta Westland Helicopter, which led to loss to public exchequer (according to CAG) of Rs.65 lakh? 

But, the government has been proactive in seeking response from the State governments also. As per the State Government of Chattisgarh, the Public Accounts Committe of the Chattisgarh Vidhan Sabha took cognizance of the CAG report regarding the acquisition that was done in 2007, and took the evidence of State Government officials. After analyzing the evidence of officials and the report of the State Government, the PAC closed the matter. 

Similarly, as per the State Government of Rajasthan, the alleged loss to public exchequer according to CAG was not on account of any irregularity in the procurement process, but due to the expenditure incurred on account of lack of planning and basic infrastructure prior to procurement, such as pilot training and maintenance. In this case too, the acquisition was done in 2005. 

The Government appeals to the countrymen to recognize the nature and depth of corruption in Agusta Westland case. The investigative agencies will stay their course in unveiling the corrupt and holding them accountable to our public. 

Memorial for Netaji Subhas Chandra Bose to be Set up in Delhi - Dr. Mahesh Sharma

3rd Batch of 25 Declassified Files Relating to Netaji Subhas Chandra Bose Released on Web Portal www.netajipapers.gov.in
The 3rd batch of 25 declassified files relating to Netaji Subhas Chandra Bose were released online on web portal www.netajipapers.gov.in by Dr. Mahesh Sharma, Minister of State for Culture and Tourism (I/C) and Civil Aviation in National Archives of India here today. Addressing on the occasion, the Minister said that the Government will soon set up a Memorial for Netaji Subhas Chandra Bose in the heart of Delhi to fulfill the long pending demand for it. He said that the release of declassified files on Netaji is a continuing process as it meets continued public demand to access these files and also facilitates research scholars and students to carry out further research on the doyen of the freedom movement.
The present batch of 25 files consists of 05 files from the Prime Minister’s Office (PMO), 05 files from Ministry of Home Affairs (MHA), and 15 files from Ministry of External Affairs (MEA) pertaining to the period 1956 to 2009.


It may be recalled that first lot of 100 files relating to Netaji, after their preliminary conservation treatment and digitization, were put in the public domain in web portal www.netajipapers.gov.in by the the Prime Minister of India, Shri Narendra Modi on 23 January 2016, on the occasion of the 119th birth anniversary of Netaji.  The second lot of 50 files were released online on web portal by Dr. Mahesh Sharma, Minister of State for Culture and Tourism (I/C) and Civil Aviation on 29 March 2016.
Ministry of Cultu

            These many files having passed the scrutiny of the specially constituted Committee having experts from the field of Archives which looks into the aspects such as:
1.      To ascertain the physical conditions of the files and carry out necessary repair and conservation wherever needed, through Conservation Unit.
2.      To verify the quality of digitization for enabling the digitized records to upload in the web portal ‘www.netajipapers.gov.in’.
3.      To check if there are any duplication in the files.

 are being released on the internet for use by the researchers and general public.
It may further be added that in 1997 the National Archives of India had received 990 declassified files pertaining to the Indian National Army (Azad Hind Fauj) from the Ministry of Defence, and in 2012, 1030 files/ items pertaining the Khosla Commission (271 files/ items) and Justice Mukherjee Commission of Inquiry (759 files/ items) from the Ministry of Home Affairs. All these files/ items are already open to the public under the Public Records Rules, 1997.

Merger of National Stock Exchange Limited (NSEL) and Financial Technologies India Limited (FTIL)

New Delhi : The Ministry has issued the Final Order on 12.02.2016 for amalgamation of National Spot Exchange Limited (NSEL) with Financial Technologies (India) Ltd. (FTIL) under Section 396 of the Companies Act, 1956.  However, the same has been kept in abeyance pursuant to Orders of the Hon’ble High Court of Bombay.

                   A total of 50,389 representations (physical papers as well as emails) were received during March, 2015 to October, 2015 in response to the public notice issued by the Ministry of Corporate Affairs, in compliance of provisions of section 396(4)(b) of the Companies Act, 1956.  The profile of the authors of these representations, together with their dispositions in respect of the merger proceedings given in Annexure –I.

                     People’s representatives and others have also represented to the Ministry to initiate action against the persons behind such objections.  Representations have been received asking for early action against the persons responsible in the matter.  Other than the Ministry of Corporate Affairs, the Economic Offences Wing (EOW) of Mumbai Police and the Directorate of Enforcement (ED) are also investigating the matter.  Properties valued at Rs. 5757 crores (approx.) of the accused have been attached by EOW while 32 common properties valued at Rs. 740 crore (by ED) and Rs. 1222.89 crore (by EOW) have been attached.  Further, directions have also been given to the Securities and Exchange Board of India to examine and take necessary action against the defaulting brokers.

Annexure -I

Details of representations received in respect of proposed amalgamation of NSEL with FTIL in the Ministry


Name
Categories of Senders
In favour of merger
Against the merger
Suggestions by senders
Total Records
2618
45803
1
48422
0
0
0
0
0
1203
0
1203
0
0
0
0
479
5
0
484
0
81
0
81
39
1
0
40
0
2
0
2
0
6
0
6
0
1
0
1
9
0
0
9
66
68
7
141
Total Records
3211
47170
8
50389

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.

Indian Accounting Standards

New Delhi : The Road Map for implementation of Indian Accounting Standards (Ind AS) for commercial Banks (Banks), Insurance Companies (Insurers) and Non-Banking Financial Companies (NBFCs) was announced on 18/01/2016 and implementation schedule is drawn as follows: 

(i) Banks (excluding Urban Cooperative Banks and Regional Rural Banks), All-India Term-lending Refinancing Institutions (i.e. Exim Bank, NABARD, NHB and SIDBI) to adopt Accounting Standards for Periods beginning from 01/04/18 onwards for preparation of financial statements. 

(ii) NBFCs with networth of Rs. 500 crore and more to adopt Accounting Standards for Periods beginning from 01/04/18 onwards for preparation of financial statements. 

(iii) NBFCs that are listed or in the process of being listed and having networth of less than Rs. 500 crores to adopt Accounting Standards for periods beginning from 01/04/19 onwards for preparation of financial statements. 

(iv) Unlisted NBFCs having networth between Rs. 250 crores and Rs 500 crores to adopt Accounting Standards for Periods beginning from 01/04/19 onwards for preparation of financial statements. 

(v) Holding subsidiary, Joint Venture or associate companies of (iii) and (iv) above to adopt Accounting Standards for Periods beginning from 01/04/19 onwards for preparation of financial statements. 

These Ind AS are converged with International Financial Reporting Standards (IFRS). Minimum carve outs have been made in order to address country specific requirements. 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today. 

Thursday, 28 April 2016

PSLV-C33 successfully launches India's Seventh Navigation Satellite IRNSS-1G

The Prime Minister, Shri Narendra Modi witnessing the successful launch of IRNSS-1G, in New Delhi on April 28, 2016.



Sriharikota: In its thirty fifth flight (PSLV-C33), ISRO's Polar Satellite Launch Vehicle successfully launched the 1425 kg IRNSS-1G, the seventh satellite in the Indian Regional Navigation Satellite System (IRNSS) today afternoon from Satish Dhawan Space Centre SHAR, Sriharikota. This is the thirty fourth consecutively successful mission of PSLV and the thirteenth in its 'XL' configuration. 

The Prime Minister of India, Shri Narendra Modi, heartily thanked and congratulated all the ISRO scientists and team ISRO for completing IRNSS constellation and dedicated IRNSS to the nation as ‘NavIC’ (Navigation Indian Constellation). He appreciated India’s space community for making the country proud through such achievements which have helped in improving the life of common man. 

After PSLV-C33 lift-off at 1250 hrs (12:50 pm) IST from the First Launch Pad with the ignition of the first stage, the subsequent important flight events, namely, strap-on ignitions and separations, first stage separation, second stage ignition, heat-shield separation, second stage separation, third stage ignition and separation, fourth stage ignition and satellite injection, took place as planned. After a flight of 19 minutes 42 seconds, IRNSS-1G was injected into an elliptical orbit of 283 km X 20,718 km inclined at an angle of 17.867 degree to the equator (very close to the intended orbit) following which the satellite successfully separated from the PSLV fourth stage. 

After separation, the solar panels of IRNSS-1G were deployed automatically. ISRO's Master Control Facility (MCF) at Hassan, Karnataka took over the control of the satellite. In the coming days, four orbit manoeuvres will be conducted from MCF to position the satellite in the Geostationary Orbit at 129.5 deg East longitude. 

IRNSS-1G is the seventh of the seven satellites constituting the space segment of the Indian Regional Navigation Satellite System. IRNSS-1A, 1B, 1C, ID, IE and 1F, the first six satellites of the constellation, were successfully launched by PSLV on July 02, 2013, April 04, 2014, October 16, 2014, March 28, 2015, January 20, 2016 and March 10, 2016 respectively. All the six satellites are functioning satisfactorily from their designated orbital positions. 

IRNSS is an independent regional navigation satellite system designed to provide position information in the Indian region and 1500 km around the Indian mainland. IRNSS provides two types of services, namely, Standard Positioning Services (SPS) - provided to all users and Restricted Services - (RS), provided to authorised users. 

A number of ground facilities responsible for satellite ranging and monitoring, generation and transmission of navigation parameters, etc., have been established in eighteen locations across the country. Today’s successful launch of IRNSS-1G, the seventh and final member of IRNSS constellation, signifies the completion of the IRNSS constellation. 

India seeks Mallya's deportation from the UK

New Delhi, Apr 28 (PTI) India has asked the UK to deport Vijay Mallya, whose Kingfisher Airlines has been accused of defaulting bank loans of over Rs 9,400 crore, citing the revocation of his passport and a non-bailable warrant against him.

External Affairs Ministry also emphasised that India will continue pursuing Mallya's deportation matter with the UK authorities.

Four days after MEA revoked the liquor baron's passport, ministry Spokesperson Vikas Swarup said, "The ministry has written to the High Commission of the UK in Delhi requesting the deportation of Vijay Mallya so that his presence can be secured for investigations against him under the Prevention of Money Laundering Act 2002." 

He further said that Indian High Commission in the UK will also be issuing a similar note verbale to the UK Foreign and Commonwealth Office.

"Mallya's passport was revoked last week in view of these (PMLA) investigations and non-bailable warrant issued by the Special Judge, Mumbai. We will continue to pursue this matter with UK authorities," Swarup added.

ED has approached the MEA seeking initiation of deportation proceedings against Mallya, charged with money laundering in the Rs 900 crore IDBI loan fraud case.

Mallya, who had left India on March 2 for the UK, can approach the British authorities to grant him permission to continue his stay in that country or challenge the revocation of his passport.

Sensex plunges 461 pts on F&O expiry, BOJ stimulus shock



Mumbai, Apr 28 (PTI) Snapping its two-day rally, the BSE Sensex today crashed over 461 points -- its biggest single-day decline in three weeks -- to crack below the 26,000-mark after BOJ took investors by surprise by deciding against fresh stimulus and due to caution in view of April F&O expiry.

Depressed global cues following subdued Asian markets added to the widespread sell-off.

BOJ, whose meeting ended on Thursday, maintained status quo on interest rates. Earlier, the US Federal Reserve chose to keep its policy unchanged while signalling confidence in the economic outlook.

The broader NSE Nifty went below the psychological 7,900-mark.

Investors remained cautious in the face of expiry of April series contracts in the derivatives segment, which dampened sentiment.

The index was dragged down by losses mainly in metal, oil & gas, FMCG, infrastructure and auto stocks.

Participants were seen offloading their long bets in futures and options (F&O) segment instead of carrying them forward to the next series for May.

The Sensex resumed higher, then slipped into the negative zone as selling intensified. It ended at 25,603.10, a fall of 461.02 points, or 1.77 per cent -- its biggest single-day fall since April 5.

The index gained 385 points over the past two sessions.

The broader Nifty crashed 132.65 points, or 1.66 per cent, to 7,847.25.

"While the Fed decided to keep policy rates unchanged...

the Bank of Japan (BOJ) disappointed market expectations," said Shreyash Devalkar, Fund Manager Equities, BNP Paribas Mutual Fund.

Japan's Nikkei sank 3.61 per cent while Shanghai Composite Index shed 0.27 per cent. European shares also fell largely in tandem with sell-off on Asian markets.

Market heavyweights like HDFC plunged 3.21 per cent, ITC 3 per cent, M&M 2.99 per cent, Maruti Suzuki 2.94 per cent, GAIL 2.52 per cent, Tata Steel 2.50 per cent and NTPC 2.45 per cent.

Bharti Airtel remained strong for most of the session on the back of better-than-expected Q4 earnings, but then succumbed to profit-taking and ended 0.23 per cent down.

Hindustan Unilever, Bajaj Auto, BHEL, Infosys, Adani Ports, SBI, RIL, Cipla, ONGC, Hero MotoCorp, ICICI Bank, Tata Motors and Coal India all lost ground.

Foreign portfolio investors net bought shares worth Rs 411 crore yesterday, provisional data showed.

In the 30-share Sensex constituents, 27 ended lower and three higher.

The BSE oil&gas index suffered the most by losing 2.18 per cent, followed by metal (2.16 per cent), power (2.01 per cent), auto (1.99 per cent), FMCG (1.95 per cent), PSU (1.90 per cent), capital goods (1.49 per cent) and IT (1.42 per cent).

Selling pressure also dragged down the BSE small-cap index by 1.05 per cent and mid-cap by 0.78 per cent.

Wednesday, 27 April 2016

Sensex continues to rule above 26K, ends higher by 57 pts

Mumbai, Apr 27 (PTI) The S&P BSE benchmark sensex continued to rule above 26K level for the second consecutive , moving up by another 57 points to close at 26,064.12 in view of short-covering from operators ahead of the expiry of futures and options April contract tomorrow.

Persistent foreign capital inflows also boosted the market. Foreign portfolio investors (FPIs) and Foreign Institutional Investors (FIIs) bought shares worth a net Rs 512.22 crs yesterday, as per provisional data released by the stock exchanges.

Shares of Telecom, Refinery, FMCG, Energy, IT and Teck sectors firmed up on good buying enquiries but Banking, Power Finance and Realty sectors declined on selling pressure.

The Sensex resumed lower at 25,956.42 and hovered between 26,092.93 and 25,885.24 before ending at 26,064.12, showing a gain of 56.82 points or 0.22 per ent.

It has gained by 385.19 points or 1.50 per cent in two days.

The NSE 50-share Nifty also rose by 17.25 points or 0.22 per cent to 7,979.90.

In overseas stock markets, Asian stocks ended lower as traders awaited policy decisions from the Federal Reserve and the Bank of Japan. Key indices in China, Hong Kong, Japan, Sinagpore, South Korea and Taiwan moved down by 0.21 pct to 0.69 pct.

European markets were trading narrowly mixed as key indices in France and Germany moved up by 0.04 pct to 0.13 pct while UK's FTSE was quoted down by 0.23 pct. .