'Kahaani 2' was meant to happen with me and Sujoy: Vidya Balan

 New Delhi, Jun 2 (PTI) Their brief fall-out after "Kahaani" put a question on the future of the sequel but Vidya Balan and Sujoy Ghosh reunited for part two and the actress says the movie was probably destined to happen with them.

"We were not talking to each other due to, I don't know, some kind of miscommunication. But I think with Sujoy and me that's very understandable because we either get along famously or we don't. So, we should just focus on today," Vidya said with a laugh when asked about her tiff with Sujoy.

Apart from "Kahaani 2", which just wrapped, Vidya is doing a special role in Sujoy's production "TE3N", starring Amitabh Bachchan and Nawazuddin Siddiqui in lead roles.

"We have done another film ('Kahaani 2') together and I am glad that it has worked out. Maybe, 'Kahaani 2' was meant to be with Sujoy and me. Therefore, we patched up. We put in all that we had. Let us see what is in store for us," Vidya told PTI in an interview.

The actress, 38, says she did "TE3N" for the joy of working with Bachchan and Siddiqui.

"I love thriller genre. Ribhu (Dasgupta, director) has done something new within the genre and that interested me. It had Sujoy and Kolkata besides Mr Bachchan and Nawaz in lead roles. I knew there was not much for me but I did it for the joy of it."

Vidya, who will be next seen in Marathi movie "Albela" in the role of yesteryear actress Geeta Bali, says she had slowed down the pace of her work recently due to some health issue.

The actress is now back with a number of movies such as "Begum Jaan", biopic on author Kamla Das and "Kahaani 2".

"I only slowed down because I had some health issue and I focused on it. But thankfully, I am back with full throttle."

The actress says she has her own pace when it comes to doing movies.

"Thankfully, I never had to wait for interesting roles.

Since 2007, when I started making different choices, there has been no dearth of good roles. I just work at my own pace

and pick roles that challenge me."

Vidya will next begin shooting for filmmaker Srijit Mukherjee's Hindi debut "Begum Jaan", which is a remake of the director's Bengali movie "Rajkahini".

"'Begum Jaan' is extremely powerful. I have never done a movie set during the pre-Partition era. I have never done a historical as such. The story is fictional but the background is backed by history. I found that interesting. I have seen Srijit's films and I feel he is an interesting director to work with."

The actress, who previously played Silk Smitha in "The Dirty Picture", says she was drawn to Kamala Das' biopic because of her intriguing persona.

"She was controversial, interesting, individualistic, unique, temperamental... You can use every possible adjective for her. She was a modern woman and I was just intrigued by her persona.

India invites German firms to invest in infra sector

Berlin, May 31 (PTI) Seeking German investment in India's infrastructure sector, Urban Development Minister M Venkaiah Naidu today said the partnership between the two countries "should and will flourish" as he invited participation of its business community in India's "urban renaissance".

"Indo-German partnership should and will flourish. You will be able to see for yourself the winds of change in India.

We are very keen to develop the sectors where you are strong.

We need your involvement," Naidu said while addressing a conference on '100 Indian Smart Cities Conference' here.

He said India is at the "threshold of rapid urbanisation" and is among the "fastest urbanising societies" of the world and is projected to be more urban than rural by 2050.


"With 17 per cent of people living in urban areas at the time of independence, urbanisation increased to over 31 per cent in 2011 and set to reach 40 per cent by 2030," he said, adding that this demographic transition brings along with it "serious challenges and opportunities too".

The High Powered Expert Committee of Indian Government in 2011 has estimated investment requirement for urban infrastructure over the 20-year period (2012-31) at over USD 650 billion and operation and maintenance (O&M) cost at over USD 330 billion.

The total urban infrastructure requirement works out to about USD 1 trillion over a 20-year period.

Naidu listed out various initiatives, including Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Swachh Bharat Mission for addressing the "huge" gaps in urban infrastructure.

Noting that Germany is already assisting in development of Bhubaneswar, Kochi and Coimbatore as smart cities, he said, "My visit is to explore more investment assistance for remaining Smart Cities." 

Highlighting the potential of various shemes, he said the investment in the proposed 100 smart cities works out to USD 40 billion by 2020, while the total outlay under AMRUT is USD 8 billion over five years for 500 cities and estimated cost of implementation of Clean India Mission in Urban areas is USD 10 billion.

He said government will also introduce Public Utility (Resolution of Disputes) Bill later this year for dispute resolution in infrastructure related construction projects, public private partnership (PPP) and public utility contracts.

Stressing that an essential feature of "Urban Renaissance is 'green' development", the minister said, "This we will learn from Germany's leadership in environmental-friendly and sustainable urban development".

Earlier, Naidu and German Minister of Nature Conservation, Forests, Building and Nuclear Safety, Barbara Hendrics, inaugurated the three-day conference.

Leading global companies, policy makers and experts are attending the meet being organised to highlight investment opportunities in India's Smart City Mission.

Parrikar to travel to Singapore; hold talks on Rafale jets

 New Delhi, Jun 1 (PTI) Defence Minister Manohar Parrikar will tomorrow travel to Singapore to take part in the crucial Shangri-La Dialogue, an inter-governmental security forum, on the sidelines of which he will also hold talks with his French counterpart, with both countries looking at closing the deal for 36 Rafale fighter jets soon.

It is expected that Parrikar will strongly put forward India's viewpoint on Asia's complex security challenges, how to manage military competition in the region and make defence policy in uncertain times.

The Shangri-La Dialogue hosted annually by independent think-tank International Institute for Strategic Studies, is being held from June 3-5.

It is attended by defence ministers and military chiefs of 28 Asia-Pacific countries besides those of other countries.

One of the critical meetings Parrikar will have there is with French Defence Minister Jean Yves Le Drian.

The issues pertaining to Rafale jets deal such as consensus on actions to be taken in case of a material breach, stringent liability clause and guarantee by the French side are likely to be discussed when the two leaders meet.

Parrikar had last week said the government is looking at concluding the much-hyped Rafale deal next month, more than a year after Prime Minister Narendra Modi had announced the purchase of 36 fighter jets during his visit to France.

The deal was announced by Modi in April last year when he had said that the jets would be purchased in a government- to-government contract.

Soon after the announcement, the Defence Ministry scrapped a separate process that was on to purchase 126 Rafale fighter jets built by French defence giant Dassault Aviation.

It is expected that the deal would work out be about Eur 7.8 billion including the missiles and other support system.

Modi, Obama have forged close working relationship: think-tank

From Lalit K Jha

Washington, Jun 1 (PTI) Prime Minister Narendra Modi has gone from somebody who was basically a "pariah" to someone who is now going to be celebrated, in the course of just two years, a top American think-tank has said ahead of his meeting with US President Barack Obama at the White House next week.

"This would probably be the Prime Minister's seventh meeting with the President since he took office which probably is a record both for Modi and for the President with respect to meeting a head of government from a country which is not a formal ally of the United States," Ashley Tellis of the Carnegie Endowment for International Peace said yesterday.

"This speaks to the personal relationship that the two have developed over the last two years and also the surprising quality of it, given the history that Modi had with the United States," Tellis told a group of White House reporters ahead of the Obama-Modi meeting next week on June 7 at the White House.

During his US visit, the Prime Minister would also address a joint meeting of the US Congress on June 8.

"The close personal relationship that has now developed between Modi and Obama is one of the surprises of the last two years," Tellis said.

Echoing Tellis, Milan Vaishnav of Carnegie said the personal transformation that Modi has undergone is nothing short of remarkable.

"In the course of just two years, Modi has gone from just who could not step foot on American soil as a legal matter to addressing a joint meeting of the US Congress. He has gone from somebody who was basically a pariah to someone who is now going to be celebrated by Washington.

"Despite that President Obama and the US Government having zero relationship as a matter of stated US Government policy, it is fair to say that the two have forged a close working relationship. It is an achievement that should not be minimised. The two have forged a pretty close rapport and Modi has invested in broadening and deepening ties with the US," Vaishnav said.

Giving "full marks" to the foreign policy success of the Prime Minister in the two years that he has been in power, Tellis said it is "really hard to identify any conspicuous failures" and oddly the two areas where he has fallen short is within the region Pakistan and Nepal.

"The broader foreign policy of India (under Modi) has been remarkable successful," he said.

Modi has demonstrated, if not in words, but certainly by his actions that he is willing to take the relationship as far as he can take, Tellis said.

The India-US relationship, he noted, has a full agenda.

"Defence and defence cooperation is going to be the flagship deliverables coming out of this visit," Tellis added.

India's economic growth surges in March quarter

Labourers works at the construction site of a residential building in Mumbai, February 4, 2016.

REUTERS/SHAILESH ANDRADE/FILES

New Delhi : India gathered momentum in the March quarter to extend its lead as the world's fastest growing large economy, helping Prime Minister Narendra Modi craft an impressive sales pitch for meetings with investors in the United States next week.

Modi is due to travel to Washington on June 7-8 where he will meet heads of top U.S. companies.

Having swept to power two years ago promising to revitalize Asia's third-largest economy, Modi has boosted spending on defense and infrastructure, while consumer demand has risen thanks to lower interest rates.

Those pro-growth policies helped gross domestic product INGDPQ=ECI grow 7.9 percent year-on-year in the March quarter, faster than the December quarter's 7.2 percent.

A Reuters survey of economists had forecast growth of 7.5 in the March quarter.

The strong headline number masks subdued private investment and shrinking exports, which continue to hold India back.

Still, India's growth has overtaken that of fellow Asian giant China, which grew 6.7 percent in the March quarter - the slowest in the world's second largest economy in seven years.

The figures from India's Statistics office also showed GDP grew 7.6 percent in the 2015/16 fiscal year that ended in March, in line with an earlier official estimate. Growth was 7.2 percent in 2014/15.

Success in bringing down inflation has given the Reserve Bank of India (RBI) room to cut its policy repo rate by 150 basis points since January 2015, reducing it to 6.50 percent - the lowest level in more than five years.

The GDP data reinforced expectations that the RBI would keep its policy rate on hold at a review next Tuesday.

"Momentum is building up faster than anticipated and there is a demand pick-up on the horizon," said Shubhada Rao, chief economist at Yes Bank.

"This definitely spells out a positive story that there will soon be a recovery in private sector capex."

Growth in the March quarter was driven by a rebound in farm output, an improvement in mining and a sharp pickup in electricity production.

The farm sector grew by 2.3 percent from a year ago compared with a 1.0 percent contraction in the December quarter.

With good rain forecast, after two successive years of drought, farm sector output should improve in coming months and lift depressed demand in the countryside where two-thirds of Indians live.

Mining grew 8.6 percent in the March quarter, up from 7.1 percent in the previous quarter. Electricity, water and gas production growth jumped to 9.3 percent from 5.6 percent in the December quarter.

India Signs Grant Agreement with IBRD, acting as an Implementing Agency of the Global Environment Facility for US $ 9.20 million for Efficient and Sustainable City Bus Service Project

An agreement for Global Environmental Facility (GEF) Grant of USD 9.20 Million with theWorld Bank for"Efficient and Sustainable City Bus Service Project" was signed here today by Shri Rai Kumar. Joint Secretary (MI), Department of EconomicAffairs on behalf of the Government of India and Mr. Onno Ruhl, Country Director, World Bank (India) on behalf of IBRD, acting as an Implementing Agency of theGlobal Environment Facility. Representatives from Ministry of Urban Development and State Governments of Madhya Pradesh, Maharashtra, Rajasthan and Chandigarh (UT) were also present on the occasion. 

The total program cost is USD 113.0 million, with USD 9.20 million as grant from the GEF and USD 103.07 million from Government of India and state & city governments for funding of buses and ancillary infrastructure. 

The project's development objective is to improve the efficiency and attractiveness of city bus transport and reduce greenhouse gas emissions in the demonstration cities. It comprises: (i) a national capacity building component to be implemented by Ministry of Urban Development (MoUD); and (ii) city demonstration projects in the cities of Bhopal, Chandigarh, Jaipur and Mira Bhayandar. 

Index of Eight Core Industries (Base: 2004-05=100) April, 2016

The summary of the Index of Eight Core Industries (base: 2004-05) are as follows

            The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP).  The combined Index of Eight Core Industries stands at 176.4 in April, 2016, which was 8.5 % higher compared to the index of April, 2015. Its cumulative growth during April to March, 2015-16 was 2.7 %.

Coal

            Coal production (weight: 4.38 %) decreased by 0.9 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 4.6 % over corresponding period of previous year.

Crude Oil

            Crude Oil production (weight: 5.22 %) decreased by 2.3 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 decreased by 1.4 % over the corresponding period of previous year.

Natural Gas

            The Natural Gas production (weight: 1.71 %) decreased by 6.8 % in April, 2016 overApril, 2015. Its cumulative index during April to March, 2015-16 declined by 4.2 % over the corresponding period of previous year.

Refinery Products (93% of Crude Throughput)

            Petroleum Refinery production (weight: 5.94%) increased by 17.9 % in April, 2016 overApril, 2015. Its cumulative index during April to March, 2015-16 increased by 3.8 % over the corresponding period of previous year.

Fertilizers

            Fertilizer production (weight: 1.25%) increased by 7.8 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 11.3 % over the corresponding period of previous year.

Steel (Alloy + Non-Alloy)

            Steel production (weight: 6.68%) increased by 6.1 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 declined by 1.4 % over the corresponding period of previous year.

Cement

            Cement production (weight: 2.41%) increased by 4.4 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 4.7 % over the corresponding period of previous year.

Electricity

            Electricity generation (weight: 10.32%) increased by 14.7 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 5.2 % over the corresponding period of previous year.

India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters;

Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16

The Provisional Accounts for 2015-16 have been released by the Government today (31.5.2016). Fiscal Deficit in 2015-16 stands at 3.9% of GDP as estimated both in BE and RE of 2015-16. This is a significant improvement over the Fiscal Deficit of 4.1% in 2014-15 and 4.7% in 2013-14.

Revenue Deficit has also shown significant improvement due to increase in Capital Expenditure of the Central Government. Revenue Deficit which stood at 3.2% of GDP in 2013-14 has improved to 2.9% in 2014-15 and 2.5% in 2015-16. The Capital expenditure has increased substantially to Rs 2,35,253 crore in 2015-16 which is an increase of Rs. 38,572 crore over 2014-15 and Rs.47,578 crore over 2013-14.

Similarly, the Plan Expenditure in 2015-16 is Rs. 4,71,081 crores which is higher by Rs. 8437 crores over the previous year despite substantial increase in share of tax devolution to the States.

The Gross tax collection at Rs. 14,56,887 crore has shown 17% growth as compared to Fiscal 2014-15. The Gross tax collection has improved to 10.74% of GDP (tax-GDP ratio) in 2015-16 as compared to 10.06% in 2013-14. The devolution of tax collections to State Governments in 2015-16 is Rs..5,06,193 crore, which shows an increase of Rs. 1,68,385 crore over the devolution of Rs.3,37,808 crore in 2014-15. In 2013-14 the tax share devolution to the States was Rs. 3,18,230 crore.

Non Tax Receipts are Rs. 2,50,744 crore this year as compared to Rs..1,97,766 crore last year and Rs.1,98,865 crore in 2013-14.

The above highlights clearly indicate that the fiscal parameters are very robust and in line with the Budget projections. Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16, India continues to remain a bright spot in world economy with robust macro economic and fiscal parameters. 

Microsoft Nadella meets PM Modi

The Microsoft CEO, Shri Satya Nadella calling on the Prime Minister, Shri Narendra Modi, in New Delhi on May 30, 2016.

The Microsoft CEO, Shri Satya Nadella calling on the Prime Minister, Shri Narendra Modi, in New Delhi on May 30, 2016.

India-US to sign 2 key pacts during Homeland Security Dialogue

New Delhi, May 30 (PTI) India and the US are likely to sign two key agreements in July that would exempt prominent Indian citizens from immigration checks in America and pave the way for exchange of information on terrorists on a real time basis.

The two pacts on Global Entry--a US Customs and Border Protection programme that permits speedy clearance for pre-approved, low-risk travellers upon arrival in America and the Homeland Security Presidential Directive-6 (HSPD-6), which allows access to information on terrorists-- are expected to be signed during the Homeland Security Dialogue.

Home Minister Rajnath Singh will lead the Indian delegation at US-India Homeland Security Dialogue to be held in Washington in July, while the US team would be headed by Secretary of Homeland Security Jeh Charles Johnson.

The US has been pressing for India's inclusion in the Global Entry so that high dignitaries like former Presidents, former Prime Ministers, former Union Ministers, film stars, top industrialists and frequent flyers could visit America without any hassle, a senior government official said.

Initially, the names of around 2,000 prominent Indians could figure in the coveted list, which would be expanded gradually after proper background checks of each individual.

Individuals included in the list enter the US through automatic kiosks at select airports. At airports, programme members proceed to Global Entry kiosks, present their machine-readable passport, place their fingerprints on the scanner for fingerprint verification and complete a customs declaration.

The kiosk issues the traveller a transaction receipt and directs the traveller to baggage claim and the exit.

Two important conditions for inclusion of an individual in the Global Entry programme are that he or she should not have any criminal record or be in anyway connected with a money laundering case.