8. Union Cabinet Approves Mega Rs 7lakh crore Project to Develop 83,000 km Highways.
The Union Cabinet on Tuesday has approved the biggest ever highway project to develop and expand approximately 83,000 km of roads at an investment of Rs 6.9 lakh crore by 2022, sources tell ET NOW.
The project also includes the new 28,400 km Bharatmala highway programme connecting border areas, improving international, port and coastal connectivity and developing highway corridors connecting key economic and commercial hubs.
The proposal is aimed at pushing economic activity and generating at least 32 crore man-days across the country in the next five years.
This is perhaps the biggest government announcement before the upcoming Assembly elections. According to the ministry`s estimates, construction of 10,000 km of highways annually has the potential of generating four crore man-days and the mega-highway development programme can be used to counter the allegation that the government has failed to create employment opportunities.
Sources said the focus of the entire plan is to improve the speed of traffic flow on key corridors by providing uniform four-lane roads between two identified points. Most of these corridors will be shorter and access-controlled for faster movement of cargo vehicles.
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“This is definitely one of the widely expected, big-ticket project that we have been talking about for some time now. After National Highway Development Programme, I think this is one of the biggest projects that is being talked about. Of course, there are sub-segments to it,” said Rohit Natarajan of IDBI Capital.
Rohan Suryavanshi from Dilip Buildcon said the move is a massive welcome step, specifically the timing of it.
“We will have elections in a year and a half or so. Just before that, the government’s go-ahead shows its intent clear that it is going ahead with its policy of bringing about changes in the infrastructure space, keeping the focus on development,”.
Finance Minister Arun Jaitley is expected to make major announcements at 4 pm today.
9. Union Cabinet Approves Rs 2.11 lakh crores PSBs` Capitalisation Plan.
The Indian government approved on Tuesday a state bank recapitalisation plan of Rs 2.11 lakh crore over the next two years, in a bid to clean banks` books and revive investment in a slowing economy.
Of the planned sum, recapitalisation bonds will account for Rs 1.35 lakh crore, while Rs 76,000 crore will come from budgetary support and equity issuance, said Rajiv Kumar, India`s financial services secretary.
Finance Minister Arun Jaitley said the recapitalisation of state banks would be followed by a series of reforms. He did not give details.
The nature of the bonds and details of the bonds would be made public during course of time, he said.
Non-performing assets of banks have increased from Rs 2.75 lakh in March 2015 to Rs 7.33 crore as on June 2017.
The finance minister said banks would get Rs 18,000 crore under the Indradhanush plan.
Under Indradhanush roadmap introduced in 2015, the government had announced to infuse Rs 70,000 crore in state- run banks over four years to meet their capital requirement in line with global risk norms, known as Basel-III.
In line with the plan, public sector banks were given Rs 25,000 crore in 2015-16, and similar amount has been earmarked for the following years. Besides, Rs 10,000 crore each would be infused in 2017-18 and 2018-19.
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While banks remain the main source of funding for India`s companies, the stubborn bad debt problem has eaten into bank profits and choked off new lending, especially to smaller firms, at a time when an economy that depends on them is stalling.
Twenty one state-run banks account for more than two-thirds of India`s banking assets. But they also account for a bulk of the record Rs 9.5 lakh crore of soured loans.
"This milestone announcement on recapitalizing banks in one-go is a bold and courageous move and was indeed the need of the hour. It will generate balance in overall demand and supply by bringing more investments in sectors like infrastructure. These funds will also help in efficiently managing risk and credit capital related requirements of the banks. The steps will also encourage private participation thus boosting growth going forward. The thrust to infrastructure will generate direct and indirect positive cascading effects for lot of related sectors and will create feel good factor for all stakeholders," said SBI chairman Rajnish Kumar.
10. Gujarat Government announces additional benefits for karma-yogis working on fix pay on 11 months contract.
Gujarat Government has announced several additional benefits for thousands of karma-yogis working on fix pay on 11 months’ contract. Announcing this yesterday in Gandhingar, Deputy Chief Minister Nitin Patel has said that additional benefits are in the form of 11 additional casual leaves, maximum 90 days maternity leave with pay for women karma yogis after completion of one year for maximum two children, TA/DA up to Rs.250 as per slabs and Rs.2-lakh exgratia amount on accidental or natural death during duty payable to the next in kin.
The additional casual leaves will be subject to permission of the head of the department or competent officer, but they will not be carried forward to the next year.It will benefit the thousands of employees working on fixed pay in different state government offices, boards and corporations, grant-in-aid projects, missions and Government registered organizations.
According to new announcement, the women karma yogi avails maternity leave during the first year service, it will be considered without pay. The increased Daily Allowance for karma yogis on fixed pay up to Rs.20,000 per months will be eligible at the rate of Rs.100 for 6-12 hours duty and Rs.150 for over 12 hours.
Now, the fix pay employee with pay of Rs.20,001 to 40,001 will get Rs.150 for 6- 12 hours and Rs.200 for over 12 hours. That for karma yogis on fixed pay of over Rs.40,001 will be Rs.200 for 6-12 hours and Rs.250 for over 12 hours. The Travelling Allowance for karma yogis of all the fixed pay slabs will be flat either with bus fare or Railway Second Class fare by the shortest route.
In case the karma yogi is eligible for extension of the contract, the fresh contract must be renewed within 15 days. These additional benefits will not be applicable for the employees appointed through out-sourcing.
11. Ministries of Power & Textiles join hands for SAATHI initiative.
Ministries of Power and Textiles have joined hands under a new initiative SAATHI (Sustainable and Accelerated Adoption of efficient Textile technologies to Help small Industries). Under this initiative, Energy Efficiency Services Limited (EESL), a public sector entity under the administrative control of Ministry of Power, would procure energy efficient Powerlooms, motors and Rapier kits in bulk and provide them to the small and medium Powerloom units at no upfront cost.
The SAATHI initiative of the Government will be jointly implemented by EESL and the office of the Textile Commissioner on a pan-India basis. To kick start the implementation, cluster wise demonstration projects and workshops will be organized in key clusters such as Erode, Surat, Ichalkaranji, etc.
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The use of these efficient equipment would result in energy savings and cost savings to the unit owner and he would repay in installments to EESL over a 4 to 5 year period. This is the aggregation, bulk procurement and financing model that EESL has successfully deployed in several sectors like LED bulbs, Smart Meters and Electric Vehicles. The unit owner neither has to allocate any upfront capital cost to procure these equipment nor does it have to allocate additional expenditure for repayment as the repayments to EESL are made from the savings that accrue as a result of higher efficiency equipments and cost savings. The aggregation of demand and bulk procurement will also lead to reduction in capital cost, benefits of which will be passed on to the Powerloom units so that their repayment amount and period would reduce.
The Powerloom sector in India is predominantly an unorganized sector and has a large number of micro and small units which produce 57 percent of the total cloth in the country. There are 24.86 lakhs Powerloom units in this country, most of whom use obsolete technology. With a view to upgrading the technology, the Government of India has been implementing the INSITU upgradation of plain Powerlooms as part of Power Tex India under which plain Powerlooms are attached with process control equipment leading to higher productivity, better quality and more than 50 percent additional value realisation. So far 1.70 lakhs plain Powerlooms have been upgraded under the scheme, with a total Government of India subsidy of Rs. 186 crores.
12. Tamil Nadu Government Laid Foundation Stone for Rs. 198 crores Aerospace Park.
The Tamil Nadu Chief Minister, Edapaddi K Palanswami, today laid the foundation stone for an aerospace park at Kanchipuram district to be set up by the State Government in 245 acres and at an estimated cost of ?198 crore.
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When fully ready, the park will attract a total investment of nearly ?1,000 crore and create job opportunities for nearly 30,000, according to a State government press release.
The aerospace park at Vallam-Vadakkal Sipcot Industrial Park premises in Sriperumbudur will be jointly implemented by State Industries Promotion Corporation Ltd and Tamil Nadu Industrial Development Corporation.
Palaniswami handed over the land allotment order to nine companies, including Tidel Park, Minerva Aviation, Bala Works, Unicorn Pvt Ltd and Wintech Precision Engineering. Nearly 50 companies are expected to have operations at the park, the release said.
A computing and designing centre will be built in 10 lakh sq ft at a cost of ?350 crore with avionics manufacturing facility, and skill development components designing unit. In the first phase, ?180 crore will be invested to set up the centre in 5 lakh sq ft, the release said.
13. Odisha will be the ‘Focus State’ at World Food India-2017.
Odisha is set to participate as a ‘Focus State’ in the World Food India (WFI) 2017, mega international food event, to be held at New Delhi next month.
More than 200 global companies and 41 global CEOs from 30 countries will be participating in the event to be held from November 3 to 5. The event will also see 21 ministerial and business delegations, Medium, Small and Micro Enterprises Minister Prafulla Samal said.
More than 450 domestic companies and leading R&D institutes besides 95 Indian industry captains will make their presence felt.
Additional Chief Secretary, MSME Department LN Gupta said, Odisha will set up its own pavilion with 12 stalls to showcase its strength.
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Odisha Seafood Exporters’ Association along with Directorate of Fisheries will present the seafood sector. Directorate of Horticulture and APICOL along with local industry will showcase processed agro-food items and spices of Odisha, he added.
Business delegates will have B2B meetings with investors and entrepreneurs of other states and countries.
Japan, Denmark and Germany are partner countries in the World Food India-2017 and Italy, Netherlands are `Focus Countries`.A seminar on “Potential of Food Processing Sector in Odisha” will be organised on November 3, at Vigyan Bhawan.
14. Chhat Pooja celebrations begin in Bihar.
Chhath Puja is an Indian thanksgiving festival devoted to the Sun God. People gather on the banks of the River Ganges to take a bath in its holy water, pray and make ritual offerings to the Sun God during the jubilations of Chhath Puja.
Chhath Puja is an elaborate festival noted for its remarkable display of colorful dresses, music, singing and extravagant rituals. Chhath Puja is celebrated mainly in the northern regions of the state of Bihar in India.
Description:
On the day before the festival of Chhath Puja, people gather on the banks of the River Ganges and freshen themselves. The Chhath Festival – Fasting is very popular. Before the beginning of the Chhath Puja, people fast throughout the day continuing it into the early evening.
The fast is followed by worship in the home. The whole family is fed with freshly reaped rice, puris, bananas, coconut and grapefruit. On the second day of the Chhath Puja a 24-hour fast is strictly observed, even water cannot be consumed. The senior women of the household cleanse all the cooking utensils which are necessary for the main part of celebrating Chhath Puja.
The participants go to the river bank with their offerings and pay homage to the Sun God. More celebrations take place with sunset and before sunrise the people get back to the river bank with the offerings to pray to the rising sun. This is considered as the focus of the ceremony. After prayers and bathing in the river, the fast is ended.
Time of Celebration:
The festival of Chhath Puja takes place during the months of October and November, immediately after the festival of Diwali. The Chhath Puja lasts for one night and one day.
15. Rajasthan CM Launches Rajiv Mehrishi`s `India 2017 Yearbook`.
Rajasthan Chief Minister Vasundhara Raje launched an e-book titled `India 2017 Yearbook`, compiled by the Comptroller and Auditor General of India (CAG) and former Union home secretary Rajiv Mehrishi here.
At the event yesterday she said, "This is a must-have book for all. The book does not just serve civil services aspirants but also people from different walks of life such as bureaucrats, corporate, business or journalists. It is simple yet highly informative."
Mehrishi said the e-book includes a plethora of information on important dignitaries, state policy, public schemes and important data about demographics, trade, economy and many other topics.
Additional articles were contributed by a leading group of intellectuals, academics and civil servants, he said.
Mehrishi the young generation was more open to new technology and wants things faster.
"I hope this proves to be a useful tool for those preparing for civil services and other competitive exams," he said.
16. Prime Minister Narendra Modi Inaugurates Global Conference on Consumer Protection.
Consumer protection goes back to the Vedas, Prime Minister Narendra Modi said today, underscoring on the importance his government gives to it. He said a new law to protect consumers is in the works, with stricter provisions against misleading advertisements.
"Consumer protection has had an important role in the country for thousands of years...It is mentioned in the Atharva Veda that there must be no wrongdoing while weighing commodities. The rules of consumer protection have been mentioned in books which were written thousands of years ago. Punishment for trading in a wrong way has also been laid down," said PM Modi while inaugurating a global conference in Delhi.
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The two-day meet will discuss steps taken by Asian countries to implement United Nations guidelines on consumer protection as well as challenges faced by consumers of financial services and e-commerce. About 20 countries are participating, including China, Singapore and South Korea and neighbours Bangladesh and Sri Lanka. Pakistan and North Korea have not been invited.
PM Modi said the new national tax GST is giving India a new business culture and consumers will be biggest beneficiary of the new tax regime. He said prices will come down as a result of competition among companies following implementation of GST which was launched in July this year.
Government officials said the countries participating at the meet will share how they are ensuring consumer protection and the kind of legal framework they have put in place, especially in view of the challenge that online shoppers and those financial services face.
The United Nations (UN) had issued guidelines on consumer protection in 1985. India became the first country to frame its own laws in 1986, which will soon be replaced with the new set.
17. Shri Arun Jaitley Presents Letters of Intent to Seven Shortlisted Companies Under ‘Adopt A Heritage Scheme’ At Closing Ceremony of Paryatan Parv.
Shri Arun Jaitley, Union Finance and Corporate Affairs Minister presented the ‘Letters of Intent’ to Seven shortlisted companies under ‘Adopt a Heritage Scheme’ of Ministry of Tourism at the closing ceremony of ‘Paryatan Parv’ at Rajpath Lawns, New Delhi today. He also presented Certificates to the ‘Best Participating Central Government Ministry and Best Participating State Government’. Shri K.J. Alphons, Minister of State (I/C) for Tourism presided over the function. The Paryatan Parv was organized by Ministry of Tourism in collaboration with other Central Ministries, State Governments and Stakeholders across the from 5th to 25th October 2017.
Ministry of Youth Affairs was given the Certificate of Best Participating Ministry and M/o DONER was given the Runner Up Certificate. Madhya Pradesh was given the Certificate of Best Participating State and Gujarat was given the Runner Up Certificate.
Addressing on the occasion, Shri Arun Jaitley said that the Paryatan Parv is an event to show India’s tourism potential which is available in our country. Geographically India has so many explored and unexplored tourism destinations. Normally religion, Nature and History attract tourism and India has all these. India’s cultural heritages and shrines are remarkable. It has largest sea shore in the world besides forests, wild life and many historical monuments. Whereas many countries in the world have one or two historical monuments to attract tourists, India has a plenty of these. But India lacks in connectivity and large sized airports. But very soon, regional connectivity scheme of Ministry of Civil aviation will start and which will boom tourism in our country.He opined that historical monuments need to be properly maintained and “Adopt a Heritage scheme” is a very good step in this direction. He emphasized that we need an atmosphere of hospitality in our country.
In his address, Shri K.J. Alphons said that ‘Paryatan Parv’ is a celebration of art, culture and tradition and incredible performing arts of India. Many Central ministries and State Governments have participated in this Parv. He said that Tourism contributes to 6.8% of India’s GDP. He opined that there is much more scope for promotion of domestic tourism in our country. He expressed his concern that still there is huge shortage of hotel rooms in our country. He called upon foreigners to come to India to see and experience it. He congratulated all award winners of “Best Participating Ministries and State Governments as well as of “Dekho Apna Desh Contests”.
The ‘Adopt a Heritage Scheme’ of Ministry of Tourism was launched on World Tourism Day i.e. 27th September, 2017 by the President of India. Thereafter, Ministry of Tourism invited Private Sector Companies, Public Sector Companies and Corporate individuals to adopt the sites and to take up the responsibility for making our heritage and tourism more sustainable through conservation and development. This scheme is a unique endeavour of Ministry of Tourism in close collaboration with Ministry of Culture and Archaeological Survey of India (ASI) which envisages developing monuments, heritage and tourist sites across India and making them tourist friendly to enhance their tourism potential and cultural importance, in a planned and phased manner.
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The Inter-Ministerial oversight and vision committee members appreciated the positive response received from reputed organisations in the Initial phase, wherein Fifty Seven (57) responses have been recorded and fourteen (14) monuments have been opted through seven (7) Expression Of Interest(s). After detailed scrutiny, the following stakeholders ranging from hospitality industry, travel industry and banking industry have been shortlisted for vision biding for final selection of Monument Mitras:
- SBI Foundation shortlisted for the adoption of -
- Jantar Mantar, Delhi.
- TK International Limited shortlisted for the adoption of -
- Sun Temple, Konark
- Raja Rani Temple, Bhubaneshwar
- Ratnagiri Monuments, Jajpur, Odisha
- Yatra Online Pvt. Limited shortlisted for the adoption of:
- Hampi, Karnataka
- Leh Palace, Jammu & Kashmir
- Qutub Minar, Delhi
- Ajanta Caves, Maharashtra
- Travel Corporation of India Ltd. shortlisted for the adoption of:
- Mattancherry Palace Museum, Kochi
- Safdarjung Tomb, Delhi
- Adventure Tour Operator Association of India shortlisted for the adoption of :
- Gangotri Temple Area and Trail to Gaumukh
- Mt. StokKangri, Laddakh, Jammu and Kashmir
- Special Holidays Travel Pvt. Ltd. (With) Rotary Club of Delhi shortlisted for the adoption of Agrasen ki Baoli, Delhi
- NBCC shortlisted for the adoption of Purana Quila, Delhi
These Seven shortlisted companies will be the future Monument Mitras who would associate pride with their CSR activities. The projects aims to develop synergy among all partners.
Today in the afternoon, different States/ UTs presented their cultural performances viz. Assam presented Bihu; Daman & Diu presented Macchi Dance; Andhra Pradesh presented Kuychipudi; Rajasthan presented Chari & Ghoomer; Tamil Nadu presented Karakattam Thappattarm; Jammu & Kashmir presented Kashmiri Dances; and Telangana presented Perini. In the evening, Smt. Savita Devi presented ‘Purab Ang Gayaki of Banaras Gharana’ which was followed by Choreographed Cultural Performance by North Zone Cultural Centre.
Paryatan Parv received a very enthusiastic response from other Central Ministries and State Governments, who had come forward in organizing various activities and events and based on reports received, the event which has spread to all regions of the country had been received very well and had attracted participation in large numbers.
18. Indian Navy approves new mission-based deployment plan.
With an eye on increasing Chinese naval presence in the region, the Indian Navy has approved a plan for deploying mission-ready ships and aircraft along critical sea lanes of communications and choke points in the Indian Ocean Region. This was discussed in the ongoing naval commanders’ conference. A total of 14-15 ships will be deployed year-round in the region.
Navy sources told The Indian Express that these ships are being “deployed always ready to meet any eventuality across the spectrum of operations ranging from acts of maritime terrorism and piracy to Humanitarian Aid and Disaster Relief (HADR) missions. These deployments are aimed at maintaining 24/7 and round the year (vigil) with ships being sustained and turned around on station.”
The Navy’s ability to deploy and sustain in tandem with the new mission-based deployment concept has now resulted in greater presence and visibility in the Indian Ocean region.
The areas where these ships and corvettes and surveillance aircraft are being deployed include the Malacca Strait, Andaman Sea, North Andaman Sea, including Bangladesh and Myanmar, Lakshadweep islands and the Maldives, besides Madagascar and the Persian Gulf.
These vessels are being used to monitor increased Chinese presence in these areas.
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The change in the concept to mission-based deployment has necessitated a change in the methods used to sustain and support ships by the Navy. According to sources, the Navy Chief “has approved a new transition cycle for ships from maintenance periods to operational deployments that allow for a focused and gradual transition of ships from periods of maintenance layoffs to full-scale operations.”
The new transition cycle, sources said, focuses efforts of operational commanders on “training and safety inspections of ships” before deployment.
The ongoing naval commanders’ conference also reiterated the navy’s focus on efforts on capacity and capability development of navies in the region.
The conference, according to a navy spokesman, serves as a platform for institutionalized interaction between the naval commanders and senior government officials, as well as with chiefs of the Indian army and the Indian air force.
19. Puducherry Becomes an Associate Member of BCCI.
Puducherry are now the newest associate members of the Board of Control for Cricket in India (BCCI) after the Committee of Administrators (CoA) accepted their proposal.
The Cricket Association of Puducherry (CAP) will represent the Union Territory ahead of the Pondicherry Cricket Association - Kalaimani and Pondicherry Cricket Association - Velmurugan, who were the other two parties who had staked their claims for an associate membership. The final decision in favour of the CAP was taken by the Supreme Court appointed CoA.
P Damodaran, CAP Secretary expressed his excitement over CoA’s decision saying that it would help the game to develop in Puducherry.
“We are delighted with the CoA verdict that picked us above two other contenders. It is the right decision and will really help the game grow in Puducherry,” Damodaran was quoted as saying to The Hindu.
The decision to grant Puducherry the associate membership was granted at the BCCI’s annual special general meeting (SGM) earlier in October.
“The COA is of the view that there is no reason not to accept the recommendation of the Affiliation Committee and grant affiliation to the CAP. The submission made and documents submitted by the claimants do not disclose any reason, let alone compelling reasons, to reject the Affiliation Committee’s recommendation which has been made after two visits to Puducherry.
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“Accordingly, the decision of the COA is that the CAP should be granted associate membership for the Union Territory of Puducherry,” CoA’s release read.
As an associate member Puducherry will be able to take part in the Ranji Trophy as early as next season.
“This means Puducherry will be allowed to play the Ranji Trophy next year. It’s a big thing for cricket in the region and the players stand to benefit immensely. Puducherry can also now host both international matches and the Board’s domestic games,” added Damodaran.
The CAP secretary further revealed that building of a new international stadium in the Union Territory could become a reality. “An international cricket stadium was also in the pipeline,” he said.