Today's News in Media - 18-08-2016
Ftapcci Hyd
Dear all,
POWER
Power Ministry unveils apps for transparency in transmission
The Ministry of Power launched three mobile apps to enhance
transparency in the power transmission sector.The apps
—‘TARANG’, ‘e-Trans’ and ‘DEEP’
— have been developed by the Rural Electrification Corporation
Transmission Projects Company Ltd.The TARANG app will monitor upcoming transmission
projects and the progress of Inter-State & Intra-State transmission systems
in the country, being developed through regulated tariff mechanism as well as
Tariff Based Competitive Bidding(TBCB) route.The ‘e-Trans’ Web
platform is for e-bidding and e-reverse auction for Tariff Based Competitive
Bidding (TBCB) in transmission projects.The ‘DEEP or Discovery of
Efficient Electricity Price’ e-bidding portal is for medium term (1-5
years) purchase of power. Piyush Goyal, Minister of State (Independent Charge)
for Power, Coal, Mines and New & Renewable Energy said that the DEEP
e-bidding portal will help reduce the cost of power procurement.
http://www.thehindubusinessline.com/todays-paper/tp-news/power-ministry-unveils-apps-for-transparency-in-transmission/article9000222.ece
INDUSTRIAL PARK
Now, an exclusive industrial park for women entrepreneurs
In a major boost for women entrepreneurs, the FICCI Ladies
Organisation (FLO), with the support of the Telangana Government, is setting up
an exclusive industrial park for women.Considered to be first such initiative
exclusively aimed at backing women entrepreneurs particularly in the micro,
small, medium enterprises (MSMEs), the industrial park will come up in
Sultanpur, in Medak district of the State, on a 50-acre site, close to the
Outer Ring Road, . The park will be set up about 35 km from the city and 30
minutes drive from the airport.“The Telangana State Industrial and
Infrastructure Corporation Ltd has allotted the land at Rs. 45 lakh per acre while assuring to
allot more land depending upon the response and future requirements of women
entrepreneurs,” Jyotsna Angara, National Board Member, FICCI FLO, said.
http://www.thehindubusinessline.com/todays-paper/tp-news/now-an-exclusive-industrial-park-for-women-entrepreneurs/article9000220.ece
INFRASTRUCTURE
Govt willing to handhold airlines in trouble: Minister
The government is willing to “handhold” the
Bengaluru-based Air Pegasus to restart operations, but will not interfere in
the financial troubles that the airline is facing.This is the message that
Ashok Gajapathi Raju, Union Civil Aviation Minister, conveyed to Shyson Thomas,
Managing Director, Pegasus, whom he met at the Ministry of Civil Aviation here
on Wednesday.“We need to have airlines flying, not on the ground. We want
airlines to survive, (but) we cannot take the liabilities and generate other
problems. We have asked him to interact with the Secretary (Civil Aviation).
Then we will see how we can be of help,” the Minister told BusinessLinesoon after his meeting
with Thomas.
http://www.thehindubusinessline.com/todays-paper/tp-news/govt-willing-to-handhold-airlines-in-trouble-minister/article9000209.ece
NSE
NSE listing: board meet next week
The board of the NSE will meet on August 22 to discuss, among
other things, plans for listing of the bourse in the coming days. The meeting
will take place in the capital, an NSE spokesperson confirmed.However, no
decision has yet been taken on whether the NSE will prefer only a domestic
listing or go in for dual listing (in India and abroad).
http://www.thehindubusinessline.com/todays-paper/tp-markets/nse-listing-board-meet-next-week/article9000203.ece
BANKING
Future tense: tech disruptions threatening the very existence of
banks, says RBI’s R Gandhi
The very existence of banks in future is under threat due to
disruptions caused by technology, and changing consumer preferences besides
tightening regulatory requirements on capital and leverage, according to R
Gandhi, Deputy Governor, Reserve Bank of India.Sounding a caution to existing
banks, Gandhi invoked Bill Gates’ statement: ‘Banking is necessary,
but banks are not adding... it is the emerging trends in technology, regulatory
changes, and consumer behaviour and expectations which are redefining banking
and banks’ role and even endangering banks’ existence.’He
chided banks for overlooking the small and medium enterprise (SME) business
— a $2-trillion opportunity for banks in emerging markets, according to
IFC report.
http://www.thehindubusinessline.com/todays-paper/tp-money-banking/future-tense-tech-disruptions-threatening-the-very-existence-of-banks-says-rbis-r-gandhi/article9000181.ece
How much money should RBI create?
It may sound amazing, but the fact is, it is hard to discern what
the Reserve Bank of India’s monetary policy and reserve management
objectives are. Sample this quote from the RBI’s 2014-15 annual report.
“The balance sheet of the Reserve Bank of India is a reflection of the
activities carried out in pursuance of its currency issue function as well as
monetary policy and reserve management objectives”. It doesn’t tell
us very much, does it?When the RBI is continually expanding its balance sheet,
it perhaps doesn’t have a template to go by. The economic consequences of
such an approach are too serious to be wished away.Indeed, no less a person
than former governor C Rangarajan, in a recent interview, said that the
objectives of the RBI have not been clear in the 80 years of its existence. He
points out that the recent tensions between the political establishment and the
RBI have arisen because the objectives of the central bank have not been
clearly spelt out. He approves of the recent changes, formalising a
quantitative objective for the RBI.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/how-much-money-should-rbi-create/article9000254.ece
VISA
Visa fee hike issue nothing new during US polls: Nasscom President
The information technology and services industry body Nasscom on
Wednesday said issues such as visa fee hike is ‘nothing new’ during
the US elections, but there are some concerns which both the countries should
address.“I wouldn’t say there is any major cause for concern
although we do have in principle very serious concerns at any discriminatory
approaches that are followed in the US. The increase (in visa fee) is
applicable only to the so called 50:50 companies — effectively implying
that it is for Indian companies, although other foreign companies also adopt
the same business model,” R Chandrashekhar, President, Nasscom, told
reporters here.Talking to media on the sidelines of the launch of report
‘The Future of Internet in India’, he said: “What we do see
is, people are looking at all the logical things namely the shortage of skills
in the US, the needs of corporate services to remain competitive, and the US
business houses themselves pointing out the need for immigration to the skill
gaps.”
http://www.thehindubusinessline.com/todays-paper/tp-info-tech/visa-fee-hike-issue-nothing-new-during-us-polls-nasscom-president/article9000196.ece
AGRICULTURE
Why the current FPO model is selling small farmers short
The Farmer Producer Organisations (FPOs) were formed with the
expectation that they would help farmers with small land holdings benefit from
collective bargaining. Although the number of such new groups registered in
recent years has been promising, most of them do not have any commercial clout.
The Small Farmer Agri-business Consortium (SFAC) catalysed the formation of
several FPOs, but most of them have no credible business model.Most of the FPOs
were formed under the National Vegetable Cluster and National Accelerated
Pulses Production Programme funded by the Centre. The Centre and the SFAC were
required to provide subsidies to NGOs for forming FPOs in all the States. And
although more than 5.8 lakh farmers in over 780 FPOs across 25 States have been
mobilised since 2011, funds under the Equity and Credit Guarantee Fund Scheme
have been released only to 44 FPOs till March 2016. The EGF had been launched
to enhance the viability of FPOs, enhance their credit worthiness and for give
members a sense of greater ownership of the FPOs.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/why-the-current-fpo-model-is-selling-small-farmers-short/article9000184.ece
Centre asks States to check hoarding by sugar mills
Continuing with its crackdown on sugar prices, the Central
government has now written to the Maharashtra and Karnataka governments, asking
them to ensure there is no hoarding by sugar mills.“The minister (Food
Minister Ram Vilas Paswan) has written to the CMs (Chief Ministers) of
Maharashtra and Karnataka to make sure that the mills release the stocks in the
market and do not hold up the stocks,” a senior food ministry official
said.Mills in Uttar Pradesh and Tamil Nadu have already released their stocks
in the market, the official added.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/centre-asks-states-to-check-hoarding-by-sugar-mills/article9000185.ece
Farmers’ consortium objects to Centre’s seed licensing
guidelines
Raising their objection on the Centre’s seed licensing
guidelines, a consortium of seven leading national farmer organisations under
the aegis of Rashtriya Progressive Kisan Association (RPKA) on Wednesday
submitted a petition demanding immediate roll-back of the draft Guidelines and
format for GM technology agreements.The draft guidelines were issued by the
Union Ministry of Agriculture and Farmer Welfare in May 2016.The petition
opposing the guidelines was signed by over 325,000 farmers representing the
demands from farmers of 23 States of the country.Farmer leaders of RKPA met DS
Misra, Deputy Commissioner (QC), Ministry of Agriculture & Farmers Welfare
and Ramesh Chand, Member-Agriculture, NITI Aayog.The farmers’ team will
now meet Radha Mohan Singh, Union Agriculture Minister and Anil Madhav Dave,
Environment Minister, besides other top authorities.
http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/farmers-consortium-objects-to-centres-seed-licensing-guidelines/article9000171.ece
AP tobacco crop size fixed at 130 m kg
The Guntur-based Tobacco Board which met in Hyderabad on Wednesday
fixed the crop size for Andhra Pradesh for the 2016-17 crop year at 130 millon
kg based on the indents given by the tobacco trade, according to a press
release.The main agenda of the meeting was the fixation of the crop size. The
board, after detailed discussions and taking into consideration the gloomy
situation in the global market, carry-over stocks, declining demand for tobacco
in domestic markets, growers’ demands for assuring remunerative prices
for their produce, decided to fix a crop size of 130 million kg, adds the
release. Last year (2015-16), the crop size was fixed at 120 million kg.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/ap-tobacco-crop-size-fixed-at-130-m-kg/article9000268.ece
More cold chains, food parks to boost farm incomes
The government plans to set up 100 new cold chain projects at a
cost of Rs. 12,000 crore to Rs.13,000 crore and has kicked off the process to
invite investors to set up six new mega food parks, in a bid to boost farm
sector incomes by establishing farm to fork linkages.Ramesh Abhishek,
Secretary, Industrial Policy and Promotion, said that more than $1 billion of
foreign direct investment (FDI) has come into the sector in the past two years,
including some very big multinational firms such as Kellogg’s, McCain
Foods and Mars International.“This does not include every investment, nor
does it include the impact of the enabling infrastructure created by the food
processing ministry. A lot of projects are already operational on the
ground… the Rs.9,000 crore invested in new cold storage capacity in the
past two years has reduced 10 per cent of the country’s food
wastage,” Mr.Abhishek said. India loses an estimated Rs.92,000 crore a
year due owing to wasted food.
http://www.thehindu.com/todays-paper/tp-business/more-cold-chains-food-parks-to-boost-farm-incomes/article9000463.ece
FOREIGN PORTFOLIO INVESTORS
FPIs emerge net buyers in 2016, but concerns remain
Foreign portfolio investors (FPIs) have emerged net buyers in the
Indian stock markets for the year to-date, highlighting India as an attractive
investment destination among emerging markets with a favourable trade and
settlement cycle, moderate tax rates and adequate investment limits, according
to a report.Portfolio investments in debt and equity in the country by FPIs
have touched Rs.29,918 crore till July 2016 this year have been Rs 29,918
crore.According to PwC’s ‘Foreign Portfolio Investor Survey 2016-17
– India moving in the right direction’, which gathered views from
over 200 participants from across the globe, indicated that investors were
satisfied with the tax rates on capital gains, outcomes of the Minimum
Alternate Tax (MAT) issue and tax audits, the regulator’s response to
queries and the trade and settlement process.
http://www.thehindu.com/todays-paper/tp-business/fpis-emerge-net-buyers-in-2016-but-concerns-remain/article9000460.ece
GST
Government expects tax revenues to increase after
GST roll-out
The government expects its tax buoyancy to
increase after the goods and services tax (GST) is rolled out, a sharp contrast
to many experts warning of disruptions in tax machinery and slower revenue
growth in the initial years of this tax reform. In the medium term expenditure
framework released last week the government expects higher economic growth, GST
and other policy measures to help lift gross tax revenues to 10.9% of gross
domestic product (GDP) in FY18 and 11.1% of GDP in FY1 ..
http://economictimes.indiatimes.com/articleshow/53747750.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
INFRASTRUCTURE
Government extends subsidy scheme to solar-powered
cold storages
In a bid to boost the use of solarpowered cold
storages, the Ministry of New and Renewable Energy has extended its subsidy
scheme to solar refrigeration units as well. Most solar powered items,
including solar lamps and solar heating systems, enjoy a 30% subsidy under
different MNRE programmes. "Solar-powered
cold storages are still at an experimental stage. We hope the subsidy will
encourage their use," said Tarun Kapoor, a joint secretary at the
ministry. There are barely 10 solar ..
http://economictimes.indiatimes.com/articleshow/53747502.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
STATE
KTR promises ‘Digital Telangana’ in two years
The Telangana government after launching the ambitious Mission
Bhagiratha scheme to provide tap connection to each and every household, has
decided to include internet and broadband connections in it to realise the
dream of Digital Telangana within the next two years.Minister for IT and
Municipal Administration K. Taraka Rama Rao made this announcement at Huzurabad
after inaugurating the Telekha Networking Technologies Private Limited, the
first rural-based start-up software company in the State on Wednesday.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/ktr-promises-digital-telangana-in-two-years/article9001167.ece
New districts to be functional from day one
With the draft notification for reorganisation of districts to be
issued on August 22, Telangana State administration is now focused on
allocation of district-level cadre to the newly carved out districts and the
issues that can crop up as a consequence of creation of new districts. Chief
Minister K. Chandrasekhara Rao has given instructions to the officials that by
Vijaya Dasami, October 11, the day new districts will come into existence, they
should become functional in every manner with officers and staff in place in
the Collectorates and departments.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/new-districts-to-be-functional-from-day-one/article9001171.ece
HC stays resumption of land for pharma city
Justice M.S. Ramachandra Rao of Hyderabad High Court stayed the
notices issued by the Revenue authorities to resume the assigned lands for
Pharma city in Ranga Reddy district.The judge was dealing with a writ petition
filed by M. Bharatamma and others. They said that they have been assigned lands
in Meerkhanpet village and now the government wants them for Pharma City in
Kandukur mandal. The Tahsildar issued A-1 notice seeking to resume the lands
for pharma city. These lands will be allotted to Telangana State Industrial
Infrastructure Corporation (TSIIC) for establishment of Green Pharma city.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/hc-stays-resumption-of-land-for-pharma-city/article9001157.ece
Farming, not IT, our first priority, says Etala
Minister for Finance and Civil Supplies Etala Rajender said that
the State government’s top priority was agriculture sector and then comes
the Information Technology (IT).Reacting to former MP Ponnam Prabhakar’s
suggestion to make IT Minister K.T. Rama Rao the Agriculture Minister to
trigger progress in the sector, Mr. Rajender said: “IT does not provide
us food. Which is why agriculture sector should be developed by providing
irrigation sources to farmers”. Participating in the inauguration of
Telekha Networking Technologies, a first rural-based software start-up company
in Huzurabad on Wednesday, he said that the government was focusing more on
agriculture, which is the backbone of India.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/farming-not-it-our-first-priority-says-etala/article9001192.ece
Bheemunipadam, an eco-tourist's heaven in Warangal
The countryside of Warangal district hides many mysteries that
remain unexplored. Tucked away in deep jungle in Gudur mandal, there lies a
beautiful waterfall that takes birth from a natural spring atop a hillock in
pristine forest.As one goes beyond the Gudur mandal headquarters, one witnesses
a row of thick vegetative hills. Kommulancha, Thativarempula and Masampelli
thanda are some of the hamlets located at the foot of the hills. They are
inhabited mostly by tribals.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/bheemunipadam-an-ecotourists-heaven-in-warangal/article9001610.ece
Gadkari to inaugurate VPT’s solar power plant today
Union Minister for Road Transport, Highways and Shipping Nitin
Gadkari will inaugurate the solar power plant, the first among major ports
developed by Visakhapatnam Port Trust, on Thursday.After arrival at 3.30 p.m.,
he will participate in a series of programmes arranged by the VPT.The solar
power plant is developed as per the directive of the Ministry of Shipping near
Visakhapatnam International Airport.This is the first visit by Mr. Gadkari to
the city after becoming Union Minister.According to VPT Chairman M.T. Krishna
Babu, of 10 megawatts, the plant is now generating 6.25 MW. The total cost of
the project is Rs.57.50 crore.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/gadkari-to-inaugurate-vpts-solar-power-plant-today/article9000671.ece
Antwerp Port officials see scope for container service to Vizag port
A high-level delegation from Antwerp Port Authority has expressed
satisfaction over facilities available at Visakhapatnam Port and suggested
exploring introduction of container service between Visakhapatnam and Antwerp
Port.After visiting Visakhapatnam Port and Visakhapatnam Container Terminal
Private Ltd, developed by VCTPL, a joint venture of J.M. Baxi and Group and DP
World under BOT basis, the team said there was huge scope to explore container
business between Visakhapatnam and Europe as the ports in East Coast have so
far been focusing in cargo traffic to the Asian countries.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/antwerp-port-officials-see-scope-for-container-service-to-vizag-port/article9001746.ece
Dutch township floors Belgium Ambassador
The picturesque locales at 17{+t}{+h}century Dutch township of
Bheemunipatnam and the landscape of Visakhapatnam with magnificent beachfront
have floored Ambassador of Belgium Jan Luykx.On conclusion of a two-day
vacation with family, the Dutch and English connection of Bheemunipatnam,
popular as Bheemili, mesmerised the foreign dignitary during his maiden
visit.“We liked Bheemili and Visakhapatnam a lot but what it needs is
protecting the heritage structures and creation of more amenities for tourists
for their recreation,” Mr. Luykx told The
Hindu on Wednesday.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/dutch-township-floors-belgium-ambassador/article9001748.ece
Govt hits the excise gusher with petroleum products
The oil sector has been a double blessing for the economy and the
government. The prolonged run of subdued international crude prices has not
only saved the Centre precious foreign exchange but also solved the issues of
under-recoveries and subsidies that have haunted previous governments.Now, the
oil sector is proving a revenue gusher, too, with petroleum products accounting
for two of every three rupees collected as excise.
http://www.thehindubusinessline.com/todays-paper/govt-hits-the-excise-gusher-with-petroleum-products/article9000195.ece
Indians online to hit 730 mn by 2020
The number of Internet users in India is likely to more than
double to 730 million by 2020, according to a new report. As per the report
‘The Future of Internet in India’, compiled by Nasscom and Akamai Technologies,
there were about 330 million Internet users in the country as of December
2015.India, which has an Internet user base next only to China, will remain the
fastest growing market, the report’s authors wrote, adding that 75 per
cent of the new users would come from rural areas. Interestingly, a majority
(75 per cent) of new users are expected to consume data in local languages.
http://www.thehindu.com/todays-paper/tp-business/indians-online-to-hit-730-mn-by-2020/article9000464.ece
Indian steel firms’ profits to outpace that of regional peers
Indian steel firms such as Tata Steel and JSW Steel are likely to
outpace their regional peers in profitability following increasing domestic
demand backed by 7.5 per cent projected GDP growth.According to Moody's
reported titled “Steel – Asia: Lower Earnings Keep Outlook
Negative,” India’s reform and policy support for infrastructure and
manufacturing, as well as increasing urbanisation, will drive steel
consumption. “In India and Southeast Asia, we expect year-on-year steel
demand to increase by a mid- to high-single-digit percentage in 2016 and
2017,” said the report adding that it won’t be enough to offset the
aggregate effect on the region from the decline in China.Moody’s said the
profitability of Indian steel companies such as Tata Steel will outperform
regional peers’ owing to rising domestic demand and the Indian government's
protectionist measures.
http://www.thehindu.com/todays-paper/tp-business/indian-steel-firms-profits-to-outpace-that-of-regional-peers/article9000461.ece
NLC begins construction work for solar plants
State-run NLC India on Wednesday formally began construction
work for solar power projects with 4,000 MW capacity in Neyveli, about 210 km
from here. These projects are being taken up under the National Solar Mission
announced by the Centre. As part of this, construction of 65 MW solar power
plant on 325 acres in the township began with Neyveli Lignite Corporation (NLC)
India CMD, Sarat Kumar Acharya formally kick-starting the construction
activities. About 2.38 lakh solar photo voltaic modules (solar panels) each
with a power generating capacity of 280/310 watt would be installed under the
project, a company statement said. The power generated would be synchronised
with the Tamil Nadu Electricity Board, it said.
http://www.thehindu.com/todays-paper/tp-business/nlc-begins-construction-work-for-solar-plants/article9000478.ece
Antwerp port offers to help develop AP trade
Belgium’s Antwerp Port Authority, which operates the largest
port in Europe after Rotterdam, has offered its expertise to explore trade
through ports in the east coast of India to Europe and assist in the
development of greenfield ports in Andhra Pradesh. The European nation is also
keen to help develop industrial and petroleum clusters, inland waterways and
smart cities in AP.A team consisting of Ambassador of Belgium in India Jan
Luykx, Belgium Consul-General Dr. Bart De Groof, Antwerp Port Authority Chief
Commercial Officer Luc Arnouts and India Representative Raj Khalid were in
Visakhapatnam to explore various opportunities on Wednesday.
http://www.thehindu.com/todays-paper/tp-business/antwerp-port-offers-to-help-develop-ap-trade/article9000471.ece
This is for the information of the members.
R. KULKARNI
Joint Director